Current Affairs - October 8, 2017 Current Affairs

India's third largest private sector bank - Axis Bank acquired payments wallet Freecharge for Rs 373 crore in an all-cash deal. Sangram Singh has been appointed as the CEO of Freecharge Payment Technologies Private Ltd.

Axis Bank has completed the acquisition of Freecharge for a cash consideration of 373.27 crore. It has also announced appointment of Sangram Singh as the CEO of Freecharge Payment Technologies Private Ltd. Management of Axis Bank believes that this acquisition will double its customer base and will fast track its digital journey by multiple years.

National Buildings Construction Corporation (NBCC) has signed a MoU with Finlands Fortum Oyj for developing electric vehicle charging infrastructure in upcoming development projects in India. This MoU has been made only for co- operative institutional relationship and does not involve any joint venture or financial implication.

Prime Minister Narendra Modi announced the setting up of India's first marine police training institute at Gujarat's Devbhumi Dwarka district.This announcement was given at the foundation stone-laying ceremony of a bridge between Okha and Beyt Dwarka, during PM Narendra Modi's two day visit to Gujarat.

Prasar Bharati Chairman A Surya Prakash has launched an online application system for music auditions for the All India Radio (AIR) due to the occasion of 64th Akashvani Sangeet Sammelan. AIR expected to arrange the auditions in different genres of music like classical, light, folk, tribal and western.

IDBI Bank informed that its promoter the government of India, has increased its stake in the company to 77.79% by acquiring 3.81% shares through preferential allotment. The government of India has acquired 3.81% shares carrying voting rights in the company due to preferential allotment of equity shares.

India and the European Union agreed to strengthen ties in key areas of trade and security after their 14th summit, which was held on 6th October, 2017. The two sides also inked three pacts, including one on an international solar alliance. India and the EU have been strategic partners since 2004.

Prime Minister Narendra Modi inaugurate development projects worth Rs. 5,925 crore during his two-day visit to poll-bound Gujarat. He laid the foundation for construction of Rs 962 crore Cable Stayed Signature Bridge between Beyt Dwarka and Okha on NH-51, Gujarat. He 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.

Manipur Chief Minister N. Biren Singh has addressed a regional conference of north east labour ministers and officials to take a sincere effort to end the alienation of people from the north east. The conference was held at the Hotel Classic Grande in Imphal. He added that to show our responsibility to initiate a unity among the citizens of the country.

India has finished second in the recently-concluded 20th Asia Masters Athletics Championships in Rugao, China by bagging 37 gold medals in the event. China bagged 146 medals, including 37 golds, 43 silvers and 66 bronze. China was topped.

Central Board of Direct Taxes (CBDT) said it has signed two more advance pricing agreements (APAs) in September 2017 with Indian taxpayers. Objective of APA scheme is to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and thereby reducing litigation.

The Indian Air Force (IAF) on October 8, 2017 celebrated its 85th anniversary at the Hindon Air Force Station in Ghaziabad with a parade and an air show by various aircraft. The IAF was established in 1932 with a strength of six RAF-trained officers and 19 air soldiers. IAF's mission is to secure Indian airspace and to conduct aerial warfare during armed conflict.