Current Affairs Today October 24 2017

We are here for you to provide the important current affairs October 24 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.

• Daily Current Affairs
• Try our Current Affairs Quiz 2017
• Read Our 2017 Current Affairs
• Current Affairs 2017 October

INDIAN AFFAIRS

Paika Bidroha to be named as 1st War of Independence
On October 23, 2017, Union HRD Minister Prakash Javadekar mentioned that from the next academic session, ‘Paika Bidroha’ (Paika rebellion) of 1817 will included in history text books as ‘the First War of Independence’.
i. In July 2017, the then President Pranab Mukherjee inaugurated year-long celebration of Bi-Centenary of the Paika Bidroha of Odisha.
ii. Central Government has allocated Rs. 200 crore for commemorating it across the country…………………………….Click here to Read more

Andhra Government releases 3rd installment under Crop Loan Waiver Scheme
On 23^rd October 2017, Agriculture Minister of Andhra Pradesh Somireddy Chandramohan Reddy announced the release of third installment under Crop Loan Waiver Scheme.3rd installment under Crop Loan Waiver Scheme:
i. In September 2017, the Andhra Pradesh Government, released Rs.3,600 crores for the third portion of the third installment, under Waiver Scheme in Andhra Pradesh.
ii. The amount will be deposited in the accounts of the farmers with additional 10 % interests. Andhra Pradesh Government, under the leadership of Chief Minister Chandrababu Naidu, has been giving the first preference to the farmers.
iii. According to Somireddy, the crop loan waiver is one of the promises of the Telugu Desam Party (TDP) during its election campaign. However, the government came under criticism for not fulfilling its promise.
Recent schemes of Andhra Pradesh government:
♦  Swachha Andhra Mission – to execute the objectives of Swachh Bharat Mission in Andhra Pradesh
♦  Rs.2000 Unemployment Allowance Scheme in Andhra Pradesh for Unemployed Youth
♦  PMAY-NTR Nagar Scheme Andhra Pradesh – 1.93 Lakh Houses for Urban Poor

INTERNATIONAL AFFAIRS

Nicaragua signs Paris climate agreement
On October 23, 2017, Central American country, Nicaragua officially signed the Paris climate change agreement and presented the relevant documents for the agreement at the United Nations.
i. Paris climate agreement, adopted in December 2015, is an agreement within the United Nations Framework Convention on Climate Change (UNFCCC) through which member countries have committed to take steps for limiting global warming and thereby avoid dangerous climate change.
ii. Earlier, Nicaraguan Government did not sign the agreement arguing that the accord did not put sufficient onus on wealthy countries to tackle climate change and was not ambitious enough in its objectives.
iii. It is to be noted that Nicaragua has no oil and its government pursues a green energy policies. More than 50% of its electricity is produced by geothermic, wind, solar, biomass and wave power.
iv. Now as Nicaragua has signed the Paris Climate Change Agreement, US and Syria are the only countries who are not party to this agreement.
Quick Facts about Nicaragua
♦ Capital – Managua
♦ Currency – Cordoba
♦ Current President – Daniel Ortega

India gifts war memorabilia to Bangladesh
On 22^nd October 2017, India gifted a memorabilia of the Bangladesh Liberation War of 1971 to the Bangladesh Prime Minister Sheikh Hasina.India’s memorabilia to Bangladesh:
i. The memorabilia of the Bangladesh Liberation War of 1971 was handed over to Sheikh Hasina by Indian External Affairs Minister Sushma Swaraj.
ii.During the war, about 10 million Bangladesh people took refuge in India. India and Bangladesh fought together to drive out the Pakistani occupation army.
iii. The memorabilia includes military equipment utilised during the war, artefacts, documents, historical photographs, archival audio and video clippings, maps, battle records, newspaper clippings, documentary films.
iv. The collection is proposed to be displayed at the Bangladesh National Museum in Shahbagh and the Museum of Independence in Suhrawardy Udyan in Dhaka.
About Bangladesh Liberation War of 1971:
♦ Cause – The war began after the Pakistani military launched Operation Searchlight against the people of East Pakistan
♦ Result – Independence of the People’s Republic of Bangladesh

30th edition of India – Indonesia Coordinated Patrol (CORPAT) begins in Indonesia
On 24^th October – 5^th November 2017, the 30th edition of CORPAT (Coordinated Patrol) and 3^rd Bilateral exercise between the Indian Navy and the Indonesian Navy is conducted in Belawan, Indonesia.
India – Indonesia Coordinated Patrol (CORPAT):
i. Indian Naval Ship Sukanya under the command of Commander SA Deodhar, arrived at Belawan, Indonesia, to participate in the 30th edition of CORPAT (Coordinated Patrol) and 3rd Bilateral exercise between the Indian Navy and the Indonesian Navy.
ii. The two navies have been carrying out Coordinated Patrols (CORPAT) on respective sides of the International Maritime Boundary Line (IMBL) twice a year since 2002.
iii .The aim of the CORPAT is to enhance mutual understanding and inter-operability between the navies, prosecute vessels involved in unlawful activities and take measures against Sea Pollution.
iv. During the stay at Port Belawan, various activities such as formal reception on board ship, ship open to visitors, guided tours for Indian naval personnel and professional interaction between naval personnel of both the nations have been planned.
About Indonesia:
♦ Capital – Jakarta
♦ Currency – Indonesian rupiah
♦ President – Joko Widodo

BANKING & FINANCE

RBI to make LEI must for companies with over Rs 5 crore exposure
Reserve Bank of India (RBI) is set to make Legal Entity Identifier (LEI) compulsory for companies having aggregate fund-based and non-fund based exposure over Rs 5 crore.About Legal Entity Identifier (LEI):
i. LEI is a unique 20 digit alphanumeric code that will be assigned to corporate borrowers.
ii. Banks will be required to acquire this number from the borrower and report it to the Central Repository of Information on Large Credits (CRILC) database. CRILC is a database in which details of loan above Rs 5 crore are maintained.
iii. On basis of LEI, banks will be able to monitor the aggregate exposure of corporate borrowers.
iv.  Fetching loan details on basis of LEI, will prevent banks from extending multiple loans to companies against the same collateral.
v. By the end of October 2017, RBI will release detailed instruction pertaining to requirement for obtaining LEI.

EEPC signs pact with PNB for export finance
Engineering Export Promotion Council (EEPC) India, the premier trade and investment promotion body has signed a Memorandum of Understanding with Punjab National Bank (PNB) to provide easy access to export finance to the exporters in India.
Terms of MoU between EEPC and PNB:
i. Members of EEPC will be offered foreign currency loans and advisory support to financing projects through 200 authorised foreign exchange branches of PNB.
ii. Exporters can avail loans up to Rs 10 crore at competitive rates. Such loans will be processed within six to seven weeks after application.
iii. Exporters would also be provided with gold cards which would qualify them for additional benefits like quicker sanction and disbursal of loans.
iv. These facilities would first be offered only to EEPC members in eastern region and would be gradually extended to members of the other regions.
Quick Facts about EEPC India:
♦ Setup in – 1955
♦ Sponsored by – Union Ministry of Commerce and Industry
♦ Membership – 12000 members

SBI ties up with Escorts to finance farmers for purchase of tractors
On October 23, 2017, India’s largest public sector bank, State Bank of India (SBI) announced that it has entered into a tie-up with Escorts Limited to finance farmers for the purchase of Escorts tractors.Details about SBI-Escorts Tie-up:
i. As per the terms of the tie-up, farmers across India, who wish to purchase Powertrac and Farmtrac brand tractors manufactured by Escorts, will be provided finance facility by SBI at competitive interest rates.
ii. In India, large number of small and marginal farmers are not able to take full benefit of farm mechanisation because of number of factors including low availability of finance.
iii. This tie-up will help a large number of small and marginal farmers as they will have access to necessary finance for the purchase of heavy duty tractors.
Quick Facts about Escorts Group:
♦ Founded in – 1960
♦ Headquarters – Haryana
♦ Current Chairman and MD – Rajan Nanda

IndusInd Bank launches Cobrand App with MobiKwik
On October 23, 2017, IndusInd Bank and MobiKwik announced the launch of a co-branded wallet, “IndusInd Mobikwik”.
More Details about IndusInd Mobikwik Wallet:
i. IndusInd Mobikwik wallet allows IndusInd bank’s customers to pay at the MobiKwik merchant network using their accounts.
ii. This wallet has a ‘direct debit feature’ which allows IndusInd Bank account holders to link their accounts just once and pay using the co-branded app as and when required. This feature eliminates the need to load the MobiKwik prepaid wallet separately.
iii. 10 million customer of IndusInd bank will be able to use ‘IndusInd Mobikwik’ for hassle free digital payments.
iv.Mobikwik mobile payment platform has a network of over 20,00,000 direct merchants and has 65 million users.
Quick Facts about IndusInd Bank:
♦ Founded in – 1994
♦ Headquarters – Mumbai
♦ Current CEO – Romesh Sobti

BUSINESS

Madhya Pradesh tops in digital initiatives: Report by Coeus Age Consulting
As per a report by Coeus Age Consulting, Madhya Pradesh has emerged as the top state in terms of digital initiatives undertaken by State Government. Coeus Age Consulting is an organisation which provides consultancy services on various aspects of digital economy.
Highlights of Coeus Age Consulting’s Report on Digital Initiatives:
i. A comparative assessment of digital initiatives by 36 states and Union Territories was undertaken by Coeus Age Consulting.
ii. Comparative assessment indicates that a State/UT should not only be good but should be better than other states.
iii. The States/UTs were assessed and given scores on 109 key performance indicators placed under two broad scoring frameworks – Policy and Infrastructure Readiness (PIR) Score and Mission Mode Projects’ Performance (MMP) Score.
iv. Madhya Pradesh attained the maximum score of 100.1.
Digital Initiatives – Top 5 State

TRAI recommends 40 percent reduction in carbon emissions in telecom networks by 2023
In its recommendations to the Department of Telecom, on approach towards sustainable telecommunications, Telecom Regulatory Authority of India (TRAI) has recommended 40 per cent carbon emission reduction in telecom network by 2022-23. 
TRAI’s Recommendations towards sustainable telecommunications
i. Target of reduction in carbon emission be set as 30 per cent by year 2019-20 and 40 per cent by the year 2022-23.
ii. In context of above mentioned targets, 2011-12 has been set as a base year.
iii. Telecom operators should get all the benefits granted by Government under various schemes for using renewable energy technologies.
iv. TRAI has also recommended that report of the carbon footprint of telecom operators should be submitted every year within 45 days after March.
Quick Facts about TRAI:
♦ Founded in – 1997
♦ Headquarters – New Delhi
♦ Current Chairman – R S Sharma

AWARDS & RECOGNITIONS

Cristiano Ronaldo and Lieke Martens win FIFA player-of-the-year awards
Footballer Cristiano Ronaldo has been named FIFA Men’s Player of the Year and Lieke Martens has been named FIFA Women’s Player of the Year.About FIFA Awards 2017:
i. FIFA’s annual ‘The Best’ football award ceremony was held on October 23, 2017 in London, UK.
ii. Cristiano Ronaldo was adjudged best male footballer by securing 43.16% of the total vote.
iii .Male footballers Lionel Messi and Neymar received second and third highest votes respectively.
iv. With 21.72% votes, Lieke Martens of Netherlands national football team was adjudged best female footballer.
v. Zinedine Zidane of Real Madrid Club was awarded FIFA Best Men’s coach and Sarina Wiegman, manager of Netherlands women’s national football team was awarded Best Women’s Coach.
Quick Facts about FIFA:
♦ Founded in – 1904
♦ Headquarters – Zurich, Switzerland
♦ Current President – Gianni Infantino

Meghalaya Election Department enters Limca Book of Records
On 24^th October 2017, an official announced that, the Meghalaya Election Department has entered Limca Book of Records for the formation of the biggest human logo comprising young voters in the state.
Meghalaya Election Department in Limca Book of Records:
i. The logo formation was part of Mission Unite (U and I towards Enrolment) as part of the Special drive to enroll young and left out voters in the age categories of 18 to 21 years held in July 2017 at the Jawaharlal Nehru Sports Complex.
ii. A total of 2,870 students, 113 schools, three colleges participated. The logo size was 120ft x 75ft. This has secured a place in the Limca Book of Records for the record on maximum number of enrolled young and future voters forming human logo formation in one single venue.
iv. Limca Book of Records official Garima Manon congratulated Meghalay Chief Electoral Officer Kharkongor. The Limca Book of Records will hand a certificate to Kharkongor by November 2017.
About Meghalaya Election Department:
♦ Chief Electoral Officer – Frederick Roy Kharkongor
♦ Additional Chief Electoral Officer – T.Lyngwa

APPOINTMENTS & RESIGNS

IPPB appoints Suresh Sethi as its MD & CEO
Suresh Sethi has been appointed as Managing Director and Chief Executive Officer of India Post Payments Bank (IPPB).  About Suresh Sethi:
i. Suresh Sethi replaces AP Singh who had held the post since January 2017.
ii. As stated by Union Ministry of Communications, Suresh Sethi had been selected by the Banks Board Bureau. Several top heads from public and private sector banks as well as reputed finance professionals were vying for this post.
iii. Sethi has 27 years experience in Banking & Finance sector and has held senior level positions in  Citigroup, YES Bank and Vodafone M-Pesa across India, Kenya, UK, Argentina and US.
iv. By capitalising on India Post’s extensive network, IPPB plans to have 650 operational branches across India by early next year. 
Quick Facts about IPPB:
♦ Incorporated in – August 2016
♦ Commenced Operations in – January 2017
♦ Parent Entity – Department of Posts, Govt. of India

Kanwaljit Singh Cheema appointed as principal secretary of BoA in Darjeeling
On 23^rd October 2017, the West Bengal government appointed Kanwaljit Singh Cheema as the principal secretary of Board of Administrators (BoA) in Darjeeling.
Kanwaljit Singh Cheema – principal secretary of BoA:
i. Kanwaljit Singh Cheema, who was the principal secretary of the Mass Education Extension and Library Service Department, has been appointed as principal secretary of the Board Of Administrators. The board was so far run by Barun Roy as an administrator.
ii. On 20^th September 2017, BoA was formed in place of the Gorkhaland Territorial Administration for Darjeeling hills with Binay Tamang as its chairman. The BoA is a nine-member board.
iii. Anoop Kumar Agrawal, principal secretary of the Planning, Statistics and Programme Monitoring Department would replace Cheema at the Mass Education Extension and Library Service Department.
iv. Main Jain, secretary of the state Tourism Department was given the additional charges of the Planning, Statistics and Programme Monitoring Department.
About West Bengal:
♦ Capital – Kolkata
♦ Governor – Keshari Nath Tripathi
♦ Chief Minister – Mamata Banerjee

NS Venkatesh appointed AMFI chief executive
Association of Mutual Funds in India (AMFI)has been hunting for a new CEO for quite some time after the former CEO Rajendran left while half way through in his tenure in the month of December. i. Almost after ten months, India’s mutual fund lobby, Association of Mutual Funds in India (Amfi) is set to get its chief executive officer (CEO) MR. NS Venkatesh.
ii. Before joining AMFI, Venkatesh served in Industrial Development Bank of India (IDBI) for over 19 years, where he held several senior positions, including that of chief financial officer and executive director.
iii. He was also working as the executive director at Lakshmi Vilas Bank.
AMFI
♦ Formed – 1995
♦ Aim – To develop mutual fund markets in India

ACQUISITIONS & MERGERS

Reliance Communications gets final nod from DoT for merger with Sistema
On October 23, 2017, Anil Ambani-led Reliance Communications (RCom) announced that it has received the final approval on its merger with Sistema from the Department of Telecommunication (DoT).
More Details about RCom-Sistema Merger:
i. The merger between Reliance Communication and Sistema Shyam Teleservices Ltd. was announced in 2015.
ii. On account of this deal, RCom will gain nearly two million customers and additional annual revenues of around Rs.700 crore.
iii. In addition to the above benefits, Spectrum portfolio of RCom will be enhanced by 30 MHz in the 800 MHz band, which is useful for 4G services.
iv. Validity of RCom’s spectrum portfolio (valid up to 2021) will also be extended as Sistema has spectrum in eight circles – Delhi, Gujarat, Tamil Nadu, Karnataka, Kerala, Kolkata, UP-West and West Bengal – with validity up to 2033.
v .The closure of merger transaction will be completed in November 2017. However, RCom will carry on SSTL business in India under MTS brand.

SCIENCE & TECHNOLOGY

Myanmar to launch own satellite system in 2019
India’s neighbouring country, Myanmar has announced to launch its own satellite system MyanmarSat-2 in June in 2019. MyanmarSat 2 will carry six C-band and six Ku-band transpondersi. Myanmar Vice President Vice President U Myint Swe told a coordination meeting of the steering committee that state-owned satellite system should be established through three modes viz. to lease the use of satellite transponder of another country (Condosat), joint ownership system and total ownership system.
ii. Myanmar is currently using MyanmarSat-1 on lease system, whereas MyanmarSat-2, will be used on joint ownership system with an undisclosed partner.
iii. Estimated cost for the entire project is USD 155.7 million.
iv. U Myint Swe has insisted ministries that are currently using MyanmarSat 1 to switch over to MyanmarSat 2 as soon as their contracts with foreign firms expire.
Quick Facts about Myanmar:
♦ Capital – Naypyidaw
♦ Currency – Burmese kyat
♦ Current President – Htin Kyaw

SPORTS

Divij Sharan and Scott Lipsky crowned European Open champions
India’s Divij Sharan and America’s Scott Lipsky won the European Open trophy in Antwerp, Belgium.
European Open champions:
i. Divij Sharan and Scott Lipsky defeated Santiago Gonzalez and Julio Peralta by 6-4, 2-6, 10-5 in the finals. They won the 2017 European Open title.
ii. Divij Sharan has won his first title of the 2017 season on the ATP World Tour, and third overall, by winning the European Open trophy.
iii. His first two ATP titles came with compatriot Purav Raja, who now plays with Leander Paes. They had won titles in Bogota (2013) and at Los Cabos (2016).
iv. Divij Sharan will next play a Challenger event in Brest with Scott Clayton and may also play in two home Challengers in Pune and Bangalore in November 2017.
About 2017 European Open:
♦ Date – 16 – 22 October 2017
♦ Surface – Hard / Indoor
♦ Location – Antwerp, Belgium

Thakkar first Indian to top ITTF Junior Circuit standings
Manav Thakkar has become the first Indian to occupy the top spot (3,455 points) on the ITTF World Junior Circuit standings.First Indian to top ITTF Junior Circuit standings:
i. Manav Thakkar hails from Surat. He was previously placed at No. 5 position. He has reached the top position of top ITTF Junior Circuit standings after finishing runner-up at the 2017 Serbian Junior and Cadet Open, Belgrade.
ii. Through this Manav Thakkar has ensured a place for himself in the ITTF World Junior Circuit Finals to be held in February 2018 in Luxembourg.
iii. The players that follow him in ITTF World Junior Circuit standings are American Kanak Jha (2,950 points), Argentinas Francisco Sanchi (2,895 points), Frenchman Bastien Rembert (2,880 points) and Chinese Taipeis Feng Yi-Hsin (2,706 points).
About ITTF:
♦ Full form – International Table Tennis Federation
♦ Headquarters – Lausanne, Switzerland
♦ President – Thomas Weikert

Jitu Rai, Heena Sidhu win Gold in 10m Air Pistol mixed team event at ISSF World Cup
Jitu Rai, a Commonwealth and Asian Games gold-medallist, and Heena Sidhu, also a former Commonwealth Gamesgold-winner, picked up their third gold together in the 10m air pistol mixed team event, being held officially for the first time at an ISSF World Cup on the opening day of competitions .
i. India is hosting the tournament for the first time in its history.
ii. Rai and Sidhu finished with 483.4 points, while Florian Fouquet and Celine Goberville of France took Silver with 481.1. China’s Xiaoxue Cai and Wei Yang came third with 418.2 points.
iii. “It feels great to win here in front of our people, even if this puts a little extra-pressure on us,” said Sidhu at the end of the medal ceremony. “There were high expectations on us and a lot of eyes were looking at me and Jitu for this final, that’s why we trained a lot together in the last days.”
iv. “We like this format, it’s a bit longer than the other ones we tried, but we like definitely like it,” added Rai, who previously won two medals during the ISSF World Cup Stage 1 that took place in New Delhi last February and March.
ISSF WORLD CUP
♦ ISSF – International Shooting Sport Federation
♦ Introduced – 1986

Flemming joins NBA India as head of Basketball operations
The National Basketball Association (NBA) announced Scott Fleming, former India men’s national team head coach, has joined NBA India as Head of Basketball Operations.Flemming – head of Basketball operations – NBA India:
i. Scott Fleming will oversee the league’s youth and elite basketball development in India, including the Reliance Foundation Jr. NBA program, NBA Academy India and NBA Basketball School.
ii. Fleming, was earlier head coach of the Crusaders Basketball team at the Northwest Nazarene University. He served as India men’s head coach from 2012-2015. He spend two years as an assistant coach for Texas Legends of the NBA G League.
iii. He has 25 years coaching experience, including 20 seasons as head coach and athletic director at Mount Vernon Nazarene University (Ohio). He has won two National Coach of the Year awards and a Christian College National Championship.
About National Basketball Association (NBA):
♦ Purpose – men’s professional basketball league in North America
♦ Commissioner – Adam Silver
♦ Headquarters – New York City

OBITUARY

Noted Malayalam director IV Sasi passes away
On 24^th October 2017, noted Malayalam filmmaker I.V.Sasi passed away in Chennai.
Death of IV Sasi:
i. I.V.Sasi was 69 years old. He had been ill for a while. He passed away on 24^th October 2017 in Chennai. He is survived by his wife, a son and a daughter.
ii. His wife Seema is also an actress. He has directed more than 150 movies in his 40 year career. He started his career as an art director for Kaliyalla Kalyanam in 1968.
iii. He made his debut as a director with the movie Ulsavam. He has directed blockbuster movies like Ee Nadu, Itha IvideVare, Angadi, Vartha, Devasuram, Avanazhi and Avalude Ravukal.
iv. He has won various awards like National Film Award, Kerala State Film Awards, Filmfare Awards South, etc.
About I.V. Sasi:
♦ Occupation – Film director
♦ Known for – Malayalam and Tamil movies

IMPORTANT DAYS

World Development Information Day – October 24
On 24^th October 2017, the World Development Information Day was observed all over the world.
World Development Information Day:
i. The UN General Assembly declared 24^th October as  World Development Information Day in 1972. This was done to draw the attention of the world to development problems and the need to strengthen international cooperation to solve them.
ii. The UN General Assembly decided that, the date for the World Development Information Day should coincide with United Nations Day. Hence 24^thOctober was chosen.
iii .The United Nations day aims to make people know about the achievements of the United Nations Organization.
iv. The main aim of World Development Information Day is improving the accessibility of information and the mobilization of public opinion, particularly among young people.
About UN General Assembly:
♦ President – Miroslav Lajcak
♦ Purpose – the main policy-making and representative organ of the UN

Disarmament Week – October 24-30
On 24^th to 30^th October 2017, the Disarmament Week is observed all over the world.
Disarmament Week:
i. The Disarmament week was established in 1978. The observance of Disarmament Week focuses on raising public awareness of the dangers of the arms race and the need for international disarmament.
ii. This week highlights the need to increase the global understanding of the importance of disarmament. An important focus of this week is trying to convince nations to only keep the weapons they need for an adequate police force.
iii. Disarmament Week focuses on both weapons of mass destruction, including nuclear, biological and chemical weapons, and also small arms.
About UN Office for Disarmament Affairs (UNODA):
♦ Purpose – to promote nuclear disarmament
♦ High Representative for Disarmament – Izumi Nakamitsu

United Nations Day – October 24, 2017
United Nations Day is celebrated on 24^th October every year across the world.More Details about United Nations Day:
i. United Nations Day is celebrated on 24^th October every year to mark the anniversary of UN Charter which came into force on October 24, 1945. UN Charter is the foundational treaty of the United Nations.
ii. United Nations General Assembly declared 24^th October as United Nations Day in 1948.
iii. This day is celebrated to spread awareness about aims and achievements of the United Nations Organization.
iv. In 1971, United Nations General Assembly even adopted a resolution declaring United Nations Day as international holiday and recommended that member states should observe this day as a public holiday.
v. Across the world, UN Day is generally marked by meetings, discussions and seminars revolving around role of UN in modern world.