Daily Current Affairs 5th, 6th and 7th October 2017

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Daily Current Affairs 5th, 6th and 7th October 2017

1.    President of India To Visit Kerala Tomorrow
The President of India, Shri Ram Nath Kovind, will visit Kerala (Amritapuri, Kollam) tomorrow (October 8, 2017) to attend the launch of welfare progammes organised by the Mata Amritanandamayi Math which include unveiling of Amrita clean water initiatives for rural India and distribution of certificates of official ODF status to 10 villages adopted by Mata Amritanandamayi Math.

2.    India to conduct the First ‘BIMSTEC Disaster Management Exercise- 2017’ next week beginning 10thOctober
The First ‘BIMSTEC Disaster Management Exercise- 2017’ (BIMSTEC DMEx-2017) will be conducted by the National Disaster Response Force (NDRF) as the lead agency next week from October 10-13, 2017 in Delhi and the National Capital Region (NCR). At the 17th BIMSTEC Senior Officials Meeting held in Kathmandu, Nepal on February 7, 2017, it was decided that India would organize the first annual Disaster Management Exercise for the region.

3.    Dialogue of Civilizations – IV being Organized from 8th – 15th October, 2017
‘4th Dialogue of Civilizations’ is being jointly organized by the Archaeological Survey of India, Ministry of Culture and National Geographic in New Delhi from 8th to 15th October, 2017. It will be inaugurated by the Minister of State (Independent charge) for Culture Dr. Mahesh Sharma on 8th October, 2017 (Sunday). Secretary, Ministry of Culture Smt. Rashmi Verma will preside over the function. The theme of the Conference is “Technology and Civilization”. The inaugural function of the Dialogue will be followed by Academic sessions at Ahmedabad and Dholavira and the final dialogue will take place at the important Harappan centre of Dholavira in the Rann of Kachchh.

4.    Filmmaker Kundan Shah is dead
Veteran director Kundan Shah, best known for the dark comedy "Jaane Bhi Do Yaaro", died at his home early today, family sources said. He was 69. Shah passed away after suffering a heart attack. He had studied direction at the Film and Television Institute of India in Pune and made his feature film debut in 1983 with the cult classic "Jaane Bhi Do Yaaro" (1983).
The film did not become a box office success but Shah received his first and only National Award - Indira Gandhi Award for Best First Film of a Director - for the movie which went on to become one of the most celebrated dark satirical comedies in the history of Indian cinema.

5.    India to get its first marine police training institute

Prime Minister Narendra Modi on Saturday announced the setting up of India's first marine police training institute at Gujarat's Devbhumi Dwarka district. Stating that the government is working towards the modernisation of marine police force, PM Narendra Modi said the police will be trained to provide security within a five-kilometre boundary along the coastline.

6.    PM Modi to inaugurate projects worth ?5,925 crore in Gujarat
Prime Minister Narendra Modi will inaugurate development projects worth ?5,925 crore during his two-day visit to poll-bound Gujarat. He will lay the foundation stone for a greenfield airport located near Rajkot and inaugurate a fully automatic milk processing and packaging plant in Surendranagar. He will also lay the foundation stone for widening of Ahmedabad-Rajkot section of NH-47 to six lanes.

7.    Bangalore Metro project gets 300 million euro from European Investment Bank
India will get EUR 300 million from European Investment Bank (EIB) for financing Bangalore Metro Rail Project Phase II- Line R6, according to finance ministry. Bangalore Metro Rail Project Phase II is to be jointly financed by the European Investment Bank (EUR 500 million) and Asian Infrastructure Investment Bank (EUR 300 million).
The project is to be completed in five years from the date of commencement of work. The finance ministry stated that the project aims to ensure modern transport facility for the commuters. The project is expected to generate employment opportunities, and help push the economy. In addition, the metro will help in reducing the number of vehicles on road, consuming less fuel, cutting air pollution, lowering passenger travel time and also in improving the aesthetic value of the city.

8.    State Dept. approves $15bn sale of THAAD missile defense to Saudi Arabia
The US State Department approved the sale of Terminal High Altitude Area Defense (THAAD) to Saudi Arabia for estimated $15 billion the day after Saudi Arabia agreed to buy Russian S-400 air defense system.
The Saudi government has requested 44 THAAD launchers, 360 Interceptor missiles, 16 Fire Control and Communications Mobile Tactical Station Groups and seven AN/TPY-2 THAAD radars, according to the DSCA.

9.    Number of public-sector banks to be brought down to 10-15
The finance ministry is mulling reducing the number of public-sector banks (PSBs) in India by merging some of the banks. the ministry would begin the process of bank mergers once the task of setting right bad loans was taken care of. Currently, there are 21 PSBs in the country. This number would come down to 10-15, he said, adding there will not be a drastic reduction as it would lead to a larger problem of concentration of risks with a single bank.

10.    Govt reduces GST rates on 27 items
Offering relief to small and medium enterprises (SMEs) and exporters from the rigours of complying with the technology-oriented goods and services tax (GST), the federal indirect tax body, GST Council.
The Council also lowered tax rates on 27 products and a few services and asked a panel of state ministers to examine if the 18% GST on air-conditioned restaurants could be lowered, finance minister Arun Jaitley said after the meeting.
The Council, which is headed by Jaitley, decided to continue with two pre-GST era schemes that allow duty-free sourcing of materials for export production till March 2018, a move that will improve the liquidity of exporters by preventing their working capital from getting locked up in tax procedures.

11.    DLF's Kushal Pal Singh is India's wealthiest real estate baron
Delhi-based real estate tycoon Kushal Pal Singh of DLF was named as the top real estate entrepreneur this year on the Grohe Hurun India Real Estate Rich List, where 60 per cent of the list comprises first generation entrepreneurs. Singh, 87, is the wealthiest real estate baron in the country with a fortune of Rs 23,460 crore.
Other self-made entrepreneurs who made the list include Mangal Prabhat Lodha, 61, of Lodha Group in second position and Jitendra Virwani, 51, of Embassy Property Developers, in third position the list revealed. While Lodhas networth stood at Rs 18,610 crore, Virwanis fortune is at Rs 16,700 crore. Smitha V Crishna (66), of Godrej Properties is the richest woman on the list with a fortune of Rs 2,210 crore.

12.    Int'l Campaign to Abolish Nuclear Weapons wins Nobel Peace Prize
The International Campaign to Abolish Nuclear Weapons (ICAN) has been awarded the 2017 Nobel Peace Prize for its "work to draw attention to the catastrophic humanitarian consequences of any use of nuclear weapons". The Peace Prize calls upon nuclear-armed states to initiate negotiations to gradual elimination of the world’s 15,000 nuclear weapons.

13.    Kishore Biyani’s Future Retail buys HyperCity for Rs655 crore
Kishore Biyani-led Future Retail Ltd Thursday announced the Rs655-crore acquisition of HyperCity Retail India Ltd owned by K Raheja Corp. Future Retail owns Big Bazaar, Easyday, Nilgiris and Heritage stores and online furniture store Fabfurnish.com, while HyperCity Retail, a subsidiary of Shoppers Stop Ltd, operates HyperCity large format stores.
The stock-and-cash deal will be completed in three to five months, Future Retail said in a stock exchange filing. Future Retail will allot 9.310 million shares of Rs2 face value to HyperCity Retail’s 15 shareholders at Rs535 per share on a preferential basis. This means that of the total deal value, Rs500 crore will come from these shares. The remaining Rs155 crore will be paid in cash, Future Retail said in the exchange filing.

14.    Aadhaar now a must for post office deposits, PPF, NSC and KVP

The government has made biometric identification Aadhaar mandatory for all post office deposits, PPF, the National Savings Certificate scheme and Kisan Vikas Patra. Existing depositors have been given time till December 31, 2017 to provide the 12-digit unique identification number.
Ministry of Finance has issued four separate Gazette notifications making Aadhaar mandatory for opening all post office deposit accounts, Public Provident Fund (PPF), National Savings Certificate scheme and Kisan Vikas Patra deposits.

15.    76-year-old from Allahabad bags 4 bronze in Masters athletic meet in China

A septuagenarian from Allahabad has bagged four bronze medals for India in the recently concluded 20th Asia Masters Athletics Championship held in Rugao, China.
The performance of Shivnath, 76, has helped India bag a total of 146 medals, including 37 golds, 43 silvers and 66 bronze and finish second behind host China. In all, 20 countries participated in the meet held between September 24 and September 28.
The 200-odd member Indian contingent had four athletes from UP who between them won seven medals, including two gold medals.