Daily Current Affairs - 04th Nov 2017

Asian Women's Boxing Championships: Sonia, Neeraj storm into quarterfinals

  • Sonia Lather and Neeraj have entered the quarterfinals of the Asian Women's Boxing Championships being held in Ho Chi Minh City, Vietnam. Neeraj, a debutant in 51kg category beat Myanmar's Nally Nally. Neeraj will now meet Korea's Pang Chol Mi.While Lather will take on China's Yin Junhua in the quarterfinals.

AU Small Finance gets scheduled commercial bank status

  • AU Small Finance Bank has received Reserved Bank of India (RBI) approval to operate as Scheduled Commercial Bank. This bank's name has now been included in the Second Schedule of Reserve Bank of India Act, 1934.
  • After acquiring scheduled commercial bank status, AU Small Finance Bank will be able to do borrowing and lending with RBI under Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF).
  • It will also help it to acquire business from public sector undertakings (PSUs), corporates, banks, mutual funds, insurance companies and other market participants which can transact with scheduled banks only to comply either regulatory or internal guidelines.
  • AU Small Finance Bank started its banking operation from April 19 this year. Prior to becoming a bank, as Au Financiers (India) Ltd (an Asset Finance NBFC), the company had gained over 20 years of experience in financing the unbanked and underbanked segment in rural and semi urban areas.
  • MD & CEO, AU Small Finance Bank: Sanjay Agarwal

Border Roads Organisation constructs world's highest motorable road in Ladakh

  • The Border Roads Organization (BRO) has constructed the world’s highest motorable road in the Ladakh region of Jammu and Kashmir, passing through Umling La Top at a height of over 19,300 feet. The feat was achieved under “Project Himank” of the BRO.
  • The 86-km-long strategic road connects Chisumle and Demchok villages, located 230 km from Leh, which are a stone's throw away from Indo-China border in the eastern sector.
  • The Project Himank has already constructed roads like Khardung La at an altitude of 17,900 ft and Chang La Pass at 17,695 ft in Leh by connecting Nubra valley and Durbuk valley in the cold desert.
  • This is in response to Chinese aggression of road infrastructure near LAC in Ladakh, BRO constructed the world's highest motorable road.

Colombia signs $300m UN deal to fight cocaine production

  • Colombia has signed a 300 million US dollar agreement with the United Nations (UN) aimed at reducing the production of cocaine. This historic agreement is a unique opportunity to turn the tide against Colombia's coca cultivation and help farmers embrace alternative development.
  • This initiative will provide compensation to farmers if they revert to producing safer crops, such as coffee and cacao.
  • Colombia is ranked as one of the main drug-growing nations in the world by the UNODC.
  • About Colombia
  • President: Juan Manuel Santos Calderón (He was the sole recipient of the 2016 Nobel Peace prize)
  • Capital: Bogota
  • Currency: Colombian peso

Commonwealth Shooting Championships: Prakash, Amanpreet, Jitu win medals in 50m pistol event

  • Indian shooters Prakash Nanjappa, Amanpreet Singh and Jitu Rai made a clean sweep in the 50m pistol event at the Commonwealth Shooting Championships at Gold Coast in Australia. Prakash won the gold medal, Amanpreet the Silver and Jitu settled for bronze medals.
  • Earlier Gagan Narang had won a silver, while Swapnil Suresh Kusale bagged the bronze in the men's 50m rifle prone event. In women's 25m pistol final, Anuraj Singh won the bronze.

DRDO successfully tests guided bomb

  • The Defence Research and Development Organisation (DRDO) has successfully tested an indigenously developed light weight glide bomb, Smart Anti Airfield Weapon (SAAW), which can target large enemy infrastructure, like airfields. The tests were conducted at Chandipur in Odisha.
  • The guided bomb released from an Indian Air Force (IAF) aircraft and guided through precision navigation system, reached the targets at greater than 70 km range with high accuracies.

Ferrari threatens to quit F1

  • Ferrari, the only team to have competed in the Formula One World Championships every year since its inception in 1950, has threatened to quit the sport over the new engine rules.
  • Liberty Media, which now owns the sport, had announced several changes to engine regulations aimed at cost reduction, and while Ferrari chairman Sergio Marchionne agreed with the cost-cutting reasons, and said there were other strategic issues that could force the Italian manufacturer to consider racing elsewhere.

France plans New Caledonia self-rule referendum in November 2018

  • The French Pacific territory of New Caledonia will hold a referendum on self-rule next year, under a deal reached with the French government. The French government and New Caledonian politicians agreed on the size of the electorate, locations for polling stations and the presence of UN election observers. The new political agreement could pave the way for independence of New Caledonia.
  • If a majority opts for independence it will be the first French territory to break away since Djibouti in 1977 and Vanuatu in 1980.
  • New Caledonia, located east of Australia, has about 275,000 inhabitants. It is a French territory comprising dozens of islands in the South Pacific. It's known for its palm-lined beaches and marine-life-rich lagoon,
  • About New Caledonia
  • Capital: Noumea
  • Currency: CFP franc

India offers to share real-time maritime data

  • India has made an offer to share intelligence of maritime movements in the Indian Ocean in real-time with 10 Indian Ocean littoral States. The information to be shared includes movement of commercial traffic as well as intelligence.
  • Indian Navy is hosting Navy and Maritime Chiefs of 10 countries of IOR at the first GMC to identify common threats in the region and evolve a mechanism on how to tackle them.
  • As India gears up to counter China’s increased presence in the Indian Ocean Region (IOR).

India Post Payment Bank to become operational in 650 districts by April 2018

  • The Union government said that India Post Payments Bank will become operational in all 650 districts of the country by April next year. These banks will facilitate financial inclusion and be linked to 1.55 lakh rural post offices and carry out banking services.
  • Two such banks are already operational in Ranchi and Raipur.
  • MD & CEO of India Post Payments Bank (IPPB): Suresh Sethi

Indian Hockey team storm into final of Asia Cup

  • The Indian women's hockey team continued its splendid run to stun defending champions Japan 4-2 in the semi-final of the Asia Cup hockey tournament Kakamigahara, Japan.
  • Two goals from Gurjit Kaur and one goal each from Navjot Kaur and Lalremsiami ensured India's entry into Sunday's final where they will face China.

Jnanpith Award for Krishna Sobti

  • Hindi litterateur Krishna Sobti has been chosen for this year’s Jnanpith Award, the Jnanpith Selection Board announced in a meeting. Ms. Sobti, 92, is known for experimenting with new writing styles and creating bold and daring characters in her stories. Her language is highly influenced by the intermingling of Hindi, Urdu and Punjabi cultures.
  • Her choice of subjects spans Partition, relationships between men and women, the changing dynamics of Indian society, and the gradual deterioration of human values.

Kenneth Juster’s appointment as US envoy to India confirmed

  • Kenneth Juster, a top economic expert on India, was unanimously confirmed by the Senate as the next U.S. Ambassador to New Delhi, filling a key position as the two countries push forward their strategic ties.
  • He will replace Indian-American Richard Verma as the top American diplomat to India. The position has been lying vacant since January 20 after Mr. Verma resigned from the post.
  • Mr. Juster, 62, is an old India hand who played a key role in developing the landmark Indo-U.S. civil nuclear deal.

Spain issues international arrest warrant for Catalan leader Puigdemont

  • A judge in Spain has issued a European arrest warrant for former Catalan president Carles Puigdemont and his cabinet colleagues who fled to Belgium after facing charges including sedition and rebellion.
  • The warrant, which adds two further indictments of perjury and willful disobedience of the law, is the first step in attempts to extradite the Catalan leadership to face trial which carries a possible sentence of 30 years on conviction.
  • They all face charges of rebellion, sedition and misuse of public funds for pursuing Catalan independence.

US president Trump Departs on 11-Day Asia Trip

  • President Donald Trump embarked on the longest trip of his presidency -a five-country, 11-day tour of Asia designed to strengthen diplomatic and economic partnerships while contending with North Korea's nuclear threat.
  • He will visit Japan, South Korea, China, Vietnam and the Philippines. It will be the longest tour of Asia by a US president in 25 years.
  • Mr Trump is expected to show a united front with South Korea and Japan while pressing China to take a stronger line with Pyongyang.

Yes Bank signs MoU with government for Rs 1,000 crore financing

  • Private sector lender Yes Bank has signed an agreement with the government to provide Rs 1,000 crore financing for food processing projects. The funding will be provided to around 100 food processing projects with an average ticket size of Rs 10 crore each.
  • Focus will be on projects across backend infrastructure, cold chain creation of new processing units, expansion of existing units, forward linkages and food processing clusters in various locations in India, amongst others.