Current Affairs Daily Updates: 11 – September – 2017

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Mentor for Bank Exams
Current Affairs Daily Updates: 11 – September – 2017
Dear Aspirants,
Welcome to Mentor for Bank Exams Daily Current Affairs Section. Here I am presenting Current Affairs 11 September 2017 happenings of every day are covered here date wise. All types of current affairs like National, International, Economic, Science; Technology are covered in detail in this date wise current affairs section.
AWARDS AND HONOURS
Tahir Mahmood awarded with N R Madhava Menon Best Law Teacher Award
  • Eminent jurist Tahir Mahmood was on 9 September 2017 awarded with the prestigious N R Madhava Menon Best Law Teacher Award 2017 for his distinguished services to legal education and legal profession on the occasion of Law Teachers' Day celebrations.
  • The function was organised by the Society of Indian Law Firms (SILF) and Menon Institute of Legal Advocacy Training (MILAT).
  • The awards are bestowed every year to honour the most deserved law teachers and institutions in India and across the SAARC region.
BANKING AFFAIRS
RBI uses Currency Verification & Processing Machine for processing currency notes
  • The Reserve Bank of India (RBI) on 10 September 2017 stated that it uses sophisticated Currency Verification & Processing (CVPS) Machines for checking numerical accuracy and genuineness of the currency notes including Specified Bank Notes of Rs 500 and Rs 1000 instead of counting machines.
  • As per RBI, the Currency Verification & Processing (CVPS) machines are way superior to the note counting machines.
  • With a view to augment the processing capacity, RBI uses these machines in two shifts and has also been using other machines that are temporarily drawn from commercial banks after suitable modifications.
  • RBI is also exploring other options to augment processing capacity even further.
IndusInd Bank and Bharat Financial Inclusion Sign Exclusivity Agreement for Merger
  • Private sector lender IndusInd Bank and India's second largest Microfinance company Bharat Financial Inclusion have signed a confidentiality agreement for the proposed merger between them.
  • The Hinduja Group controlled bank has informed the exchanges about an ‘exclusivity agreement’ with the micro lender to explore merger or expansion plans.
  • The deal between the two companies may formalise after due diligence, definitive documentation and their shareholders, regulatory, NCLT and other third-party approvals, as applicable.
BUSINESS AND ECONOMIC AFFAIRS
Bharat Petroleum Corporation to get Maharatna status
  • The Bharat Petroleum Corporation (BPCL) is all set to become a Maharatna company. The company is currently a Navratna firm.
  • The decision to grant Maharatna status to BPCL was taken by a panel headed by the Cabinet secretary.
  • The Maharatna and Navaratna state-owned units operate in strategic fields such as petroleum, power supply, coal, heavy engineering, transportation services and telecommunications.
  • As per the government rules, a firm is eligible for Maharatna status if it is already a listed Navratna firm, has an average turnover at least Rs 25000 crore, net worth of Rs 15000 crore and an annual net profit after tax of Rs 5000 crore in the last three years. In addition, the fim should have significant global operations.
  • At present, there are seven Maharatna companies. They are Bharat Heavy Electricals, Coal India, GAIL (India), Indian Oil Corporation, NTPC, Oil and Natural Gas Corporation and Steel Authority of India.
SEBI Advisory Committee To Discuss Trading Hours Extension
  • An advisory committee of the Securities and Exchange Board of India is likely to discuss a proposal for extending stock market trading hours.
  • The stock market in India currently opens at 9 a.m. and closes at 3.30 p.m., but there is a view, including among stock exchanges, that the trade hours could be extended till up to 7.30 p.m. to better align domestic trading with global markets. The 19-member committee is led by Jayanth R Varma, professor, Indian Institute of Management, Ahmedabad.
PNB, BSNL Join Hands for Mobile Wallet Speedpay Rollout
  • Punjab National Bank and state-run firm BSNL teamed up to roll out open mobile wallet Speedpay across 10 states in the country.
  • PNB Speedway wallet will operate like any other mobile wallet for paying bills, recharging phone besides its users will be able to deposit and withdraw money from authorized retail outlets.
  • Under the agreement, BSNL will expand Speedpay services in Punjab, Chandigarh(UT), Haryana, Jammu and Kashmir, Himachal Pradesh, Uttar Pradesh, Bihar, West Bengal, Jharkhand, and Uttarakhand.
INTERNATIONAL AFFAIRS
Second Indian Workers’ Resource Centre Inaugurated in UAE
  • Indian Ambassador in UAE Navdeep Singh Suri inaugurated the second Indian Workers’ Resource Centre (IWRC) in UAE to provide support and counseling to Indians in distress.
  • It provides counseling and support to the overseas Indian Community on legal, personal and financial matters, free of cost.
  • The first IWRC opened in Dubai in 2010.
  • Khalifa bin Zayed bin Sultan Al Nahyan is the President of the United Arab Emirates (UAE).
India & Afghanistan sign four pacts in areas of health and transport
  • External Affairs Minister Sushma Swaraj and Foreign Minister of Afghanistan Salahuddin Rabbani in New Delhi signed four agreements recently. The four agreements were exchanged in areas like health and transport.
  • India’s commitment to support Afghanistan as a secure, stable, united and prosperous nation. Both the nations remain united in overcoming challenges posed by cross border terrorism and safe havens and sanctuaries of terrorism.
Shaheen VI: China-Pakistan Air Forces Joint Exercise
  • The air forces of China and Pakistan began a joint training exercise named “Shaheen VI” and deployed their latest fighter jets and AWACS aircraft.
  • China has dispatched J-11 fighters, JH-7 fighter-bombers, KJ-200 AWACS aircraft and ground forces including surface-to-air missile and radar troops. The exercise will run in China.
  • AWACS is Airborne Warning And Control System, a mobile, long-range radar surveillance and control centre for air defence.
Prince Charles becomes Longest-serving Prince of Wales
  • Prince Charles has become the longest-serving Prince of Wales in history.
  • The 68-year-old broke the record of Queen’s Victoria’s son Albert, who went on to become King Edward VII after holding the title of Prince of Wales for more than 59 years before becoming monarch.
  • The milestone came a day after his wife, Camilla – Duchess of Cornwall, named a Royal Navy aircraft carrier after her husband.
Saudi Arabia suspend dialogue with Qatar
  • Saudi Arabia says it has suspended dialogue with Qatar, shortly after a phone call between the Qatari leader and the Saudi crown prince.
  • The two sides had discussed holding talks to resolve the Qatar crisis, which has seen Doha cut off from Saudi Arabia, Bahrain, Egypt and the UAE.
  • The development came after US President Trump spoke separately with the leaders of Saudi Arabia, Qatar & UAE.
NATIONAL AFFAIRS
Defence Minister Flags off Women’s Circumnavigation Expedition
  • Union Defence Minister Nirmala Sitharaman flagged off the Navika Sagar Parikrama by an all-women crew of Indian Navy aboard Indian Naval Sailing Vessel (INSV) Tarini from INS Mandovi jetty in Goa.
  • It is the first attempt by an Indian all-women crew to circumnavigate the globe.
  • The expedition will cover Australia, New Zealand, Falklands and South Africa.
Venkaiah Naidu laid foundation of Country’s First ‘Green-Field’ Smart City
  • Vice President M Venkaiah Naidu laid the foundation stone for Ranchi Smart City coming up on the Heavy Engineering Corporation (HEC) land.
  • According to the Urban Development Minister CP Singh, this would be the country’s first ‘green-field’ smart city.
  • The smart city is coming up on 656 acres of HEC land which would be fully wi-fi, carbon free, garbage free locality with modernized housing, traffic management system, education hub and equipped with facilities like round the clock power and water supplies.
AIMPLB to form committee to examine Supreme Court’s verdict on Triple Talaq
  • The All India Muslim Personal Law Board (AIMPLB) has decided to constitute a committee comprising experts that would look into the method and process for undertaking large scale community reform program within the Islamic Sharia (Islamic Law).
  • The board passed a resoultion in this connection in its one-day-long marathon meeting that was held in Bhopal to discuss the way forward after Supreme Court of India recently adjudged the popular Islamic divorce practice of instant triple talaq as unconstitutional.
Prime Minister Narendra Modi to address students in New Delhi on theme of ‘Young India, New India'
  • Prime Minister Narendra Modi will address Students' Convention in New Delhi on the theme of ‘Young India, New India' to mark the 125th anniversary of Swami Vivekananda's Chicago address and BJP ideologue Deendayal Upadhyaya's centenary celebrations.
  • Swami Vivekananda strongly believed in the power of "Yuva Shakti' (youth power) and saw a vital place for youngsters in the realm of nation-building.
Assam govt to provide skill training to 30000 surrendered militants
  • The Assam government would be providing skill development training to around 30,000 surrendered militants. The training will also be extended to jail inmates.
  • Along with providing training to the surrendered militants, the Assam government would be training over 24000 Assamese youth under the Prime Minister Kaushal Vikas Yojna.
  • The Assam Skill Development Mission would be providing skill training in 40 sectors. The training sessions would be starting by the end of September 2017.
Netaji statue unveiled at Naval base in Kolkata
  • An eight feet bronze statue of Indian freedom struggle leader Subhash Chandra Bose was unveiled at the Naval base INS Netaji Subhash at Kolkata.
  • The statue was unveiled by Netaji’s niece-in-law Krishna Bose and Eastern Naval Command Chief, Vice Admiral H.C.S. Bisht by cutting the ribbon together.
SCIENCE AND TECHNOLOGY / DEFENCE AFFAIRS
3rd Generation Anti Tank Guided Missile NAG successfully test-fired
  • Defence Research and Development Organisation (DRDO) successfully test-fired NAG, the 3rd generation Anti Tank Guided Missile (ATGM), against two different targets in the ranges of Rajasthan.
  • The ATGM NAG missile successfully hit both the targets at different ranges and it marks the successful completion of development trials of NAG Missile.
  • The missile is equipped with highly advanced Imaging Infrared Radar (IRR) seeker and has integrated avionics technology in its arsenal.
SPORTS AFFAIRS
India finishes 5th at Moscow Shotgun World Championships
  • India has finished fifth in the medals tally with one gold and two silver medals at the Moscow Shotgun World Championships.
  • Only 16 of the 76 participating nations got amongst the medals and Italy topped the tally with nine gold medals for a total of 17 medals in all.
  • Both their Olympic skeet champions Gabrielle Rossetti and Diana Bacosi were also crowned world champions in the process.
  • The USA stood second with five gold medals for a total of 12. Hosts Russia were third in the overall tally with two golds for a total of eight.
Nadal wins US Open for his 16th Grand Slam title
  • Rafael Nadal has won his third US Open Grand Slam title in New York. Nadal defeated South Africa’s Kevin Anderson 6-3, 6-3, 6-4 to grab the prestigious title.
  • The Spaniard has now won two Slams in the same year for the first time since 2013, having won 5the French Open in June 2017.
India wins 2nd SABA U-16 Championship
  • India has won 2nd South Asian Basketball, SABA, Under – 16 Championship. India defeated Bhutan by 131-50 in its last league match at Kathmandu in Nepal. India remained unbeaten in its all four matches and accumulated 8 points.
  • Bangladesh finished second and host Nepal third. The championship was played in a round robin league format.
  • India has now qualified for 2017 International Basketball Federation, FIBA, Under-16 Asian Championship to be played in Malaysia later this year.
India wins 37 medals at 2017 Commonwealth Weightlifting Championship
  • India won 37 medals, including 23 Gold, in the just-concluded Commonwealth Weightlifting Championships in Gold coast Australia.
  • India on the penultimate day of 2017 Commonwealth Weightlifting Championships bagged two gold medals, one silver and two bronze to wrap up their successful campaign in style.
  • In the last five days of the Championships, 34 new records were created by the Indians.
Sloane Stephens lifts US Open Women’s Singles Title
  • Unseeded American Sloane Stephens lifted the US Open women’s singles title.
  • Sloane ranked 83rd completed a spectacular return from injury to beat 15th seed Keys 6-3, 6-0 in the finals.
  • The 24-year-old was ranked as low as 957th six weeks ago went on to become only the fifth unseeded woman to win a major title in the Open era. Sloane stunned Venus Williams in the semifinal.