Current Affairs - October 25, 2017 Current Affairs

The Union Cabinet approved the biggest ever highway project to develop and expand approximately 83,000 km of roads at an investment of Rs 6.9 lakh crore by 2022. The project also includes the new 28,400 km Bharatmala highway program connecting border areas, improving international, port and coastal connectivity.

The World Polio Day (WPD) is observed every year by the World Health Organization (WHO) on October 24 to raise awareness about the hazards of the crippling and potentially fatal infectious disease. The day was established by Rotary International over a decade ago to commemorate the birth of Jonas Salk, who led the first team to develop a vaccine against poliomyelitis.

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. It was 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.

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). On account of this deal, RCom will gain nearly two million customers and additional annual revenues of around Rs.700 crore. Spectrum portfolio of RCom will be enhanced by 30 MHz in the 800 MHz band, which is useful for 4G services. 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.

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. LEI is a unique 20 digit alphanumeric code that will be assigned to corporate borrowers. 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.

India gifted a memorabilia of the Bangladesh Liberation War of 1971 to the Bangladesh Prime Minister Sheikh Hasina. The memorabilia of the Bangladesh Liberation War of 1971 was handed over to Sheikh Hasina by Indian External Affairs Minister Sushma Swaraj. 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. The collection is proposed to be displayed at the Bangladesh National Museum in Shahbagh and the Museum of Independence in Suhrawardy Udyan in Dhaka.

The Meghalaya Election department has entered the Limca Book of Records for the formation of the biggest human logo by newly-enrolled young voters of Meghalaya. Limca official Garima Manon conveyed this in a message to the office of Meghalaya Chief Electoral Officer on October 24, 2017. It will feature in the forthcoming edition of the book 2018. A total of 2870 students from 113 schools, 3 colleges in the age group of 18 and 19 enrolled as new voters and formed a 75 feet by 120 feet size human logo named You 'N' I on July 1, 2017.

Gujarat Government announces additional benefits for karma-yogis working on fix pay on 11 months contract. The additional benefits are in the form of 11 additional casual leaves, maximum 90 days maternity leave with pay for women karma yogis after completion of one year for maximum two children, TA/DA up to Rs.250 as per slabs and Rs.2-lakh exgratia amount on accidental or natural death during duty payable to the next in kin.

The Andhra Pradesh Government, released Rs.3,600 crores for the third portion of the third installment, under Waiver Scheme in Andhra Pradesh. 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.

Manav Thakkar has become the first Indian to occupy the top spot (3,455 points) on the ITTF World Junior Circuit standings. 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.

The Reserve Bank of India imposed a monetary penalty of Rs 2 crore on IDFC Bank for contravention of regulatory restrictions pertaining to loans and advances. The penalty has been imposed in the exercise of powers vested in RBI under the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to certain directions issued by RBI.

The Asian Development Bank and the Government of India signed a $300 million loan to continue a series of fiscal reforms in the State of West Bengal to improve the quality of public service delivery. The Second West Bengal Development Finance Program targets a further increase in public investment through the reduction of unproductive expenditure.

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. 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.