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Current Affairs Today October 16 2017

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We are here for you to provide the important current affairs October 16 2017 which have unique updates of all daily events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, India Today, Indian Express, Business Standard, all Government official websites. Our complete current affairs helps you to get more marks in Banking, insurance, UPSC, SSC, CLAT, Railway and all other competitive Exams.

CAT October 16 2017

INDIAN AFFAIRS

Punjab police launches foot patrolling in all districts
On October 16, 2017, Punjab police launched foot patrolling i.e. an initiative whereby police personnel will patrol designated areas on foot to keep a watch on anti-social elements.
Foot Patrolling by Punjab Police:
i. This initiative has been launched in all districts of Punjab.
ii. Objective of foot patrolling is to reduce incidence of crime by increasing the presence of police in vulnerable locations.
iii. Patrolling by police officials in this way would not only ensure safety and security of women, children and senior citizens but will also build a bridge for people-friendly policing.
iv. Foot patrol will be done by designated officers in their respective areas round the clock every day in eight-hour shifts.
v. All foot patrol officers will be wearing jungle boots, specially designed arm-band and will carry weapons, baton, handcuffs and wireless sets.
vi. Impact of this initiative will be evaluated at regular intervals.

Footwear Design & Development Institute Act 2017 comes into force
Footwear Design & Development Institute (FDDI) has been declared an ‘Institute of National Importance’ as the provisions FDDI Act 2017 have come into force from October 16, 2017.Footwear Design & Development Institute Act 2017 comes into forcei. With the provisions of FDDI Act 2017 coming into force, FDDI will now be upgraded to deal with international standards and address the shortage of trained human resource in the sector.
ii. Courses leading to graduate and post graduate degrees, doctoral and post-doctoral courses and research in the areas of footwear and leather products design and development and allied fields will now be developed and conducted independently by FDDI.
About Footwear Design and Development Institute (FDDI):
FDDI was established up by the Govt. of India in 1986 with an objective to provide human resource and technical services to the industry.
♦ It was established under the aegis of the Union Ministry of Commerce & Industry.
Headquarters of FDDI is located in Noida, Uttar Pradesh.
♦ It has campuses in Noida, Fursatganj (Raebareli), Guna, Chennai, Kolkata, Rohtak, Chhindwara and Jodhpur.

Agricultural Minister Radha Mohan Singh reviews Project CHAMAN, likely to be completed by March 2018
On 16th October 2017, Union Agriculture and Farmers Welfare Minister, Radha Mohan Singh reviewed Project CHAMAN during a presentation on the project in New Delhi.
Project CHAMAN:
i. In order to provide strategic development to the horticulture sector, and to increase farmers income, a pioneer project called CHAMAN, was launched 3 years ago by the Government.
ii. This project is being implemented by Mahalanobis National Crop Forecast Centre (MNCFC) using remote sensing technology. It is likely to be completed in March 2018.
iii. This project gives methodology for preparing reliable estimates of horticulture crops. This methodology will help the farmers to generate better income.
iv. The Minister informed that, it is proposed to hand over the interim reports of North Eastern States Site Suitability Studies to the respective State Governments by January 2018 for immediate consideration.
About Mahalanobis National Crop Forecast Centre (MNCFC):
♦ Objective – to provide in-season crop forecasts and assessment of drought situation
♦ Director – Dr.Shibendu S. Ray

INTERNATIONAL AFFAIRS

Pakistan-Iran sign deal to boost border security
Pakistan and Iran have signed a Memorandum of Understanding (MoU) to improve border security between the two countries.Iran & Pakistan sign agreements to boost security, tradeMore Details about deal between Pakistan-Iran sign to boost border security:
i.  This MoU was signed in Gwadar, Pakistan during the 21st two-day meeting of Pak-Iran Joint Border Commission.
ii. Provincial Chief Secretary Aurangzeb Haque represented the Pakistani side while Iranian side was headed by Deputy Governor of Sistan-Balochistan province, Ali Asghar Mir Shikari.
iii. Issues discussed during this meeting included border situation, security matters, immigration and border trade between two countries.
iv. Iran and Pakistan have also committed to end drugs smuggling, intrusion of illegal immigrants and not supporting terrorist activities on their soil against each other.
Quick Facts about Pakistan and Iran:

Pakistan Iran
Capital Islamabad Tehran
Currency Pakistani rupee Rial
Current Head of Government Prime Minister Shahid Khaqan Abbasi Hassan Rouhani

BANKING & FINANCE

First Investment Agreement signed between NIIF and Abu Dhabi Investment Authority (ADIA)
On October 16, 2017, National Investment and Infrastructure Fund (NIIF) of India signed an investment agreement worth $1 billion with Abu Dhabi Investment Authority (ADIA).
About NIIF and the agreement with ADIA:
i. As a part of this pact, ADIA has become the first institutional investor in NIIF’s Master Fund and a shareholder in NIIF’s investment management company named National Investment and Infrastructure Limited.
ii. NIIF is a fund created by the Government of India for enhancing infrastructure financing in the country.
iii. The fund has been created to attract investments (in commercially viable infrastructure development projects) from both domestic and international sources.
iv. Corpus of the NIIF is proposed to be $6 billion, in which Government of India will invest 49 per cent.
v. The remaining $3 billion will be procured from long-term international investors, such as a sovereign wealth funds, insurance and pension funds, and endowment funds.

Moody’s affirms rating on SBI’s bond programmes
Credit Ratings firm Moody’s Investors Service has affirmed its ratings on domestic as well as foreign currency bond programmes of State Bank of India (SBI).Moody maintains SBI & IDBI ratings unchangedMore Details:
i. Moody’s is expecting that SBI’s financial profile will remain stable over the mid-term.
ii. Ratings on SBI’s senior unsecured debt (issued via its London branch) and its senior unsecured medium term note (MTN) programme have also been affirmed by Moody’s.
iii. Post the merger with associate banks, SBI is now among the top 50 global banks in terms of asset size. However, as reported in its Q1 financial results, the asset quality has deteriorated significantly. This could be due to merger as well as economic disruptions which occurred in Indian economy in past few quarters.
iv. As per Moody’s, recent deterioration in SBI’s asset quality is a one-off event due to amalgamation and is expected to remain stable in near future.
Quick Facts about State Bank of India:
♦ Founded in – 1955
♦ Headquarters – Mumbai
♦ Current Chairman – Rajnish Kumar

Bangkok Bank signs deal with Intellect Design for Digital Transaction Banking Platform
iGTB (Intellect Global Transaction Banking) a specialist firm of Intellect Design Arena Ltd. has been selected by Bangkok Bank, as a technology partner to implement a comprehensive cash management platform and corporate portal.
More Details:
i. Bangkok Bank is Thailand’s market leader in corporate and small and medium-sized enterprise (SME) banking.
ii. The digital portal which will be developed by iGTB for Bangkok Bank will integrate a number of previously separate platforms, thereby enabling a consistent and consolidated view of clients’ working capital and payments activities, irrespective of the country they operate in.
iii. With back-end processing of transactions, risk management and reporting, all centralised and handled in one place, Bangkok Bank’s transaction processing rate will improve significantly.
Quick Facts about Bangkok Bank
♦ Founded in – 1944
♦ Headquarters – Bangkok, Thailand

SEBI revamps expert panel on Market Infrastructure Institutions
On 16th October 2017, SEBI reorganised its committee on Market Infrastructure Institutions (MII) that advises it on reviewing norms related to stock exchanges, clearing corporations and depository participants.
Expert Panel on Market Infrastructure Institutions revamped:
i. The five member expert committee on MII is now chaired by R Gandhi, former Deputy Governor at Reserve Bank of India (RBI).
ii. Other members are Leo Puri, UTI AMC Managing Director, Gopal Naik, Dean, faculty at IIM Bangalore, G Anantharaman, former whole time member SEBI, and S Ravindran executive director at SEBI.
iii. One of the major responsibilities of this committee is overall assessment of the existing MIIs’ framework and identifying areas for review in the SECC (Stock Exchanges and Clearing Corporations) norms and depository participants regulations.
iv. The panel would also be responsible for addressing suggestions received from public under the consultation process.
Committees of SEBI:
♦ Technical Advisory Committee
♦ Committee for review of structure of market infrastructure institutions
♦ Advisory Committee for the SEBI Investor Protection and Education Fund
♦ Takeover Regulations Advisory Committee
♦ Primary Market Advisory Committee (PMAC)
♦ Secondary Market Advisory Committee (SMAC)
♦ Mutual Fund Advisory Committee
♦ Corporate Bonds & Securitization Advisory Committee

BUSINESS

Myntra, Textile Ministry tie-up to promote handloom industry
On 16th October 2017, E-commerce major Myntra has tied up with the Union Textile Ministry, to work directly with weavers and improve their economic status.
Myntra ties up with Textile Ministry:
i. Myntra has tied up with the Government, involving some of its partner brands also, to bring artisans and their products online.This has been done in a move to support to the Government’s plan to improve demand for arts and handloom products in India.
ii. These products will retail on Myntra through a dedicated online store. This would create a one-stop shop for all handloom products. This would provide the weavers, access to new customers and opportunities.
iii. Myntra is also planning to launch a new handloom brand during its upcoming annual Brand Summit, “The Tech Threads” on 2nd November 2017 in Bengaluru.
About Myntra:
♦ Type – E-commerce – Online shopping
♦  Headquarters – Bengaluru, Karnataka
♦  CEO – Ananth Narayanan

Mahindra launches ‘Prerna’ project for women farmers
On October 15, 2017, auto manufacturer Mahindra and Mahindra celebrated ‘Mahila Kisan Diwas’ and launched a programme, ‘Prerna’ to empower women working in the agriculture sectorMahindra launches ‘Prerna’ project for women farmersAbout Mahindra & Mahindra’s ‘Prerna’ Project:
i. ‘Prerna’ project is aimed at promoting the use of efficient and ergonomic farm tools and equipment by women who work long hours in the fields.
ii. It will be first launched in Odisha, with an aim to positively impact the lives of over 1,500 families across 30-plus villages.
iii. For the first project under ‘Prerna’, Mahindra and Mahindra will collaborate with Central Institution for Women in Agriculture (CIWA), a department of the Indian Council of Agricultural Research (ICAR), and the NGO Pradan (Professional Assistance for Development Action).
Quick Facts about Mahindra and Mahindra:
♦ Founded in – 1945
♦ Headquarters – Mumbai
♦ Current Executive Chairman – Anand Mahindra

BNP Paribas teams up with TCS to deliver Corporate Event Connect
BNP Paribas Securities Services has teamed up with Tata Consultancy Services (TCS) to deliver an innovative blockchain­ based platform, Corporate Event Connect.
About Corporate Event Connect:
i. This platform will provide fast, accurate and secure corporate event announcements to clients around the world.
ii. For a firm involved in securities market, processing information about corporate actions (such as dividend announcements, stock splits, bonus etc.) is one of the most complex task.
iii. Thousands of listed companies announce corporate actions round the year which may be useful for investors/traders. The passing down of such information to investors/traders is done by intermediaries and very often it gets distorted.
iv. By using TCS’ Quartz blockchain technology, BNP Paribas will not only be able to capture and store corporate action information in a structured format but will be able to disseminate the same to its clients in a speedy way without compromising on the accuracy.

AWARDS & RECOGNITIONS

Actor Varun Dhawan to get a wax statue at Madame Tussauds, Hong Kong
Bollywood actor Varun Dhawan’s wax statue is to be displayed in Madame Tussauds wax museum in Hong Kong.Actor Varun Dhawan to get a wax statue at Madame Tussauds, Hong KongVarun Dhawan’s wax statue:
i. Varun Dhawan will unveil his wax statue in the first quarter of 2018. This is his first ever wax figure.
ii. Varun Dhawan’s wax statue is the fourth from India to be displayed in Madame Tussauds, Hong Kong. Already wax statues of Mahatma Gandhi, Narendra Modi and Amitabh Bachchan are on display.
iii. Madame Tussauds sculpting team took more than 200 measurements of Varun Dhawan. His hair and eye colour were also matched.
iv. Varun Dhawan made his acting debut in 2012. Jenny You, General Manager of Madame Tussauds, Hong Kong, said that, Varun Dhawan was one of the most requested figures.
About Madam Tussauds:
♦ Famous wax museum that displays wax statues of famous and historic people including film characters
♦ Founder – Marie Tussaud

Gopal Gowda gets ‘Kalakar Puraskar’ award
This year’s ‘Kalakar Puraskar’ instituted by Mandd Sobhann will be conferred on renowned Konkani folk artiste Gopal Gowda.
About Kalakar Puraskar:
i. This award was instituted by Mandd Sobhann, to honor Konkani artistes from the fields of folk arts, theatre, music and dance.
ii. Mandd Sobhann is an organisation that is working towards the aim of protecting Konkani identity.
iii. The award carries a cash award of Rs 25,000 and a citation.
Accomplishments of Gopal Gowda:
i. Gopal Gowda has been selected for ‘Kalakar Puraskar’ for his immense contribution to the preservation, promotion and popularisation of ‘Kudmi’ Konkani folk arts.
ii. Gopal Gowda is a noted Kudmi folk artiste and his troupe has rendered more than 200 performances across India.
iii. He would be presented ‘Kalakar Puraskar’ at a function in Mangaluru, Karnatka  on November 5, 2017.

Eminent poet Prabha Varma chosen for Padma Prabha Puraskaram
Prabha Varma, an eminent poet, lyricist and journalist has been selected for this year’s Padma Prabha Puraskaram for his contribution to Malyalam literature.Eminent poet Prabha Varma chosen for Padma Prabha Puraskarami. Padma Prabha Puraskaram is conferred for contributions to the field of Malayalam literature.
ii. It was instituted by the Padmaprabha Foundation in memory of freedom fighter and socialist Padmaprabha.
iii. The award carries a cash prize of Rs 75,000, a plaque and a citation.
iv. Prabha Varma’s name was chosen for this award by a jury headed by novelist M Mukundan.
v. Other recognitions won by Prabha Varma include Kendriya Sahitya Academi, Kerala Sahitya Academi and Vayalar awards, Mahakavi Puraskaram.
vi. Major works of Prabha Varma are ‘Chandananaazhi’,’Kalaprayaaga’, ‘Avicharithram’ and ‘Manjinotu Veyil Enna Poleyum’.
Prabha Varma, an eminent poet, lyricist and journalist has been selected for this year’s Padma Prabha Puraskaram for her contribution to Malyalam literature.
i. Padma Prabha Puraskaram is conferred for contributions to the field of Malayalam literature.
ii. It was instituted by the Padmaprabha Foundation in memory of freedom fighter and socialist Padmaprabha.
iii. The award carries a cash prize of Rs 75,000, a plaque and a citation.
iv. Prabha Varma’s name was chosen for this award by a jury headed by novelist M Mukundan.
v. Other recognitions won by Prabha Varma include Kendriya Sahitya Academi, Kerala Sahitya Academi and Vayalar awards, Mahakavi Puraskaram.
vi. Major works of Prabha Varma are ‘Chandananaazhi’,’Kalaprayaaga’, ‘Avicharithram’ and ‘Manjinotu Veyil Enna Poleyum’.

ACQUISITIONS & MERGERS

Bharti Airtel, Millicom concludes deal to combine operations in Ghana
Bharti Airtel Limited and Millicom International Cellular S.A with their respective subsidiaries (Airtel Ghana and Tigo Ghana) came out with the conclusion to combine their operations in Ghana.
i. The Ghana National Communications Authority (NCA) granted approval for the merger proposal early this month.
ii. After the merging of both companies, they will be sharing the ownership and governance rights equally.
iii. Roshi Mohan current CEO of Tigo Ghana, will be new CEO of the newly formed joint entity. Both the companies will have Board representations and Management positions in the merged entity.
Other details
The combined business would serve nearly 10 million customers, of which 5.6 million are data customers.
♦ This combined entity will become Ghana’s second largest mobile operator with nearly 10 million subscribers.
♦ It would cover more than 80% of Ghana’s population with high-speed data, providing the widest 3G coverage across the country, and the expected revenue is close to $300 million.
♦ Mobile Financial Services will also be greatly enhanced with combined agent networks and platforms.

SCIENCE & TECHNOLOGY

Indigenously built Anti-Submarine Warship INS Kiltan commissioned into Navy
On October 16, 2017, Union Defence Minister Nirmala Sitharaman commissioned India’s third indigenously built Anti-Submarine Warfare (ASW) corvette INS Kiltan into the Indian Navy. The commissioning ceremony was held at Visakhapatnam, Andhra Pradesh and was attended by Chief of Naval Staff, Admiral Sunil Lanba.
i. INS Kiltan is the third of the four ASW corvettes to be built under Project-28.It has been designed by Directorate of Naval Design and has been built by Garden Reach Shipbuilders and Engineers (GRSE), Kolkata.
ii. INS Kiltan is 109 meters long and 14 meters at the beam. Its displacement tonnage (ship’s weight) is 3500 tonnes……………….Click here to view more detail

Indian Navy aircraft P81 in Philippines to search missing sailors  
The Indian Navy long-range maritime reconnaissance aircraft P 8I has dispatched to Manila to undertake a Search and Rescue operations (SAR) to find the missing sailors of a merchant vessel that sank off the coast of Phillippines.Indian Navy aircraft P81i. The aircraft took off at 11:45pm on October 15 to Manila in search of the missing sailors of MV Emerald Star which sank in North East of Philippines.
ii. The aircraft will land by 09:00 local time (0100 UTC) and will start Search and Rescue (SAR) operations straightaway.
iii. The rescue aircraft is carrying two SAR kits which contains a 10-men inflatable dinghy, emergency food and water supply onboard which will be helpful for the survivors.
iv. The ship which sank was carrying 26 Indians on board and 16 Indians have been already rescued.
Indian Navy
♦ First station – INS Garuda
♦ Supreme Commander- President of India
♦ Former Name – Royal Indian Navy

SPORTS

Mohun Bagan lifts Governor’s Gold Cup for 10th time
Football club Mohun Bagan has won the 37th All India Governor’s Gold Cup football tournament.
i. Mohun Bagan defeated Partha Chakra by a narrow 1-0 margin to win the 37th All India Governor’s Gold Cup.
ii. The final match was played at Paljor Stadium in Gangtok, Sikkim.
iii. The only goal scored during the final match was by Mohun Bagan’s striker GA Kramah.
iv. With this victory, Mohun Bagan won the Governor’s Golden Cup for the 10th time.
v. Sikkim Chief Minister Pawan Kumar Chamling was present during the final match and gave away trophies and cash prize to winners and the runner-up.

Kavita Devi becomes first Indian woman wrestler to sign with WWE
On 15th October 2017, Kavita Devi, a former competitive powerlifter, became the first Indian woman to be signed by the World Wrestling Entertainment (WWE).Kavita Devi becomes first Indian woman wrestler to compete in WWEKavitha Devi – 1st Indian woman wrestler to sign with WWE:
i. Jinder Mahal, the current WWE champion, made this announcement in a special visit to New Delhi. Kavitha Devi would begin training at the WWE Performance Center in Orlando, Florida, by January 2018.
ii. Kavita Devi hails from Haryana. She underwent training to become a professional wrestler under the guidance of The Great Khali (Dalip Singh Rana).
iii. She won a gold medal at the 2016 South Asian Games. Also, she is the first Indian woman to compete in a WWE ring.
iv. The WWE Performance Center helps to develop skills of wrestlers through in-ring training, physical preparedness and character development.
About WWE:
♦ Headquarters – Stamford, Connecticut, United States
♦ Chairman & CEO – Vince McMahon

Legendary Brazilian sailor Scheidt announced his retirement from Olympics
On 16th October 2017, Brazilian sailor Robert Scheidt announced his retirement from Olympic competition.
Robert Scheidt’s retirement:
i. Robert Scheidt has ended his 25 year career. He is 44 years old. He said that, he would continue to participate in non-Olympic events and support Brazil’s sailors to prepare for the 2020 Tokyo Games.
ii. Robert Scheidt said that, his decision to retire, has been very tough for him to make. He said he no longer felt competitive.
iii. Scheidt won Olympic gold in the laser class in 1996 and 2004. He also won silver at the Sydney 2000 and Beijing 2008 Olympic Games. He won bronze in London in 2012 and finished fourth in Rio in 2017 games.
About
♦ Achievements – 2 gold medals, 2 silver medals and 1 bronze medal from 5 Olympic Games and a Star Sailors League Final
♦ Sailing Classes – Laser, Star

OBITUARY

Filmmaker Lekh Tandon passes away
On 15th October 2017, veteran filmmaker, Lekh Tandon, passed away at his residence in Powai, Mumbai.
Death of Lekh Tandon:
i. Lekh Tandon was bed-ridden for the last five to six months and was fed through a pipe. He died on 15thOctober 2017. His funeral was held in Powai on 16th October 2017.
ii. He was 88 years old. He was born in Lahore in 1929. Some of his famous movies are Professor (in 1962), Prince (in 1969), Ek Baar Kaho and Agar Tum Na Hote.
iii. His film Amrapali (in 1966) was selected as Indian entry for the best foreign language film at 39th Academy awards.
iv. He also bagged Filmfare Best Screenplay Award in 1978.Tandon has also acted in films like Swades, Chennai Express, Rang De Basanti etc.
About Lekh Tandon:
♦ Occupation – actor, director
♦ Works – numerous Bollywood movies and Indian TV Serials

Shamsher Khan, India’s first Olympic swimmer, passes away at 87
On 15th October 2017, India’s first Olympic swimmer, Shamsher Khan passed away in Andhra Pradesh’s Guntur district.Shamsher Khan, India's first Olympic swimmer, passes away at 87 Shamsher Khan’s death:
i.Shamsher Khan suffered from prolonged illness. He was 87 years old. He is survived by three daughters and two sons.
ii. Shamsher Khan represented India in 1956 Melbourne Olympics. He died at his house in Islampur, a small village near Repalle, in Guntur.
iii. Khan complained of chest pain and died before he was taken to hospital. The last rites were performed in Islampur on 16thOctober 2017.
iv. He was the first swimmer to represent India in Olympics. In 1954, he created national record in the 200-meter butterfly event. He served the Indian Army. He took part in the 1962 war against China and the 1971 war against Pakistan.
v. After serving for 24 years, he retired in 1973 as Subedar. He lived his last years in poverty.
About Shamsher Khan:
♦ Born – Kaithepalli, Guntur, Andhra Pradesh
♦ Sport  – Swimming

Poet Punyaslok Dasgupta passes away
On 15th October 2017, poet Punyaslok Dasgupta, died of kidney ailment at a hospital in Jalpaiguri, West Bengal.
Punyaslok Dasgupta’s death:
i. Punyaslok Dasgupta was 66 years old. He is survived by his daughter. He was known for his simplicity and was loved by the common man.
ii. Dasgupta did not follow any particular poetry style. Some of his important works are ‘Kuashar Bagan’ and ‘Chander Sangeet’.
iii. He was widely known for his hospitality. Poets and eminent persons used to often visit his house at Dhupguri area, in West Bengal.
iv. On the orders of Chief Minister Mamata Banerjee, district officials escorted Dasgupta’s body from the Jalpaiguri district hospital to his home.
About Punyaslok Dasgupta:
♦ Occupation – Poet
♦ Language – Bengali

IMPORTANT DAYS

World Food Day – October 16
On 16th October 2017, World Food Day was observed all over the world.World Food DayWorld Food Day:
i. The theme for World Food Day 2017 is ‘Change the future of migration. Invest in food security and rural development’.
ii. Food and Agriculture Organization (FAO) celebrates World Food Day to mark its creation. FAO was formed on 16th October 1945.
iii. World Food Day is a day dedicated to manage global hunger. It is held annually on 16th October.
iv. People from all over the world come together to show their commitment to eradicate worldwide hunger.
v. On this day, events are organized in more than 150 countries across the world. These events promote worldwide awareness and action for those who suffer from hunger and for the need to ensure food security and nutritious diets for all.
About Food and Agriculture Organization (FAO):
♦ Headquarters – Rome, Italy
♦ Head – Jose Graziano da Silva