Daily Current affairs - October 9th, 2017 for all competitive exams
The Indian Air Force (IAF) is celebrating its 85th anniversary on 08th October 2017.
- The celebrations would be marked by a stellar show in the skies by various aircraft at the Hindon Air Force Station in Ghaziabad. President Ram Nath Kovind has greeted the Indian Air Force on its 85th Anniversary.
- Defence Ministry stated that the air display has commenced with flag bearing skydivers of famous AKASH GANGA Team dropping out of AN-32 aircraft in their colourful canopies.
Govt launches Intensified Mission Indradhanush (IMI)
The government has launched Intensified Mission Indradhanush (IMI). Through this programme, the Government aims to reach each and every child under two years of age and all those pregnant women who have been left uncovered under the routine immunisation programme.
- The special drive will focus on improving immunization coverage in select districts and cities to ensure full immunization to more than 90% by December 2018.
- Intensified Mission Indradhanush will have inter-ministerial and inter-departmental coordination, action-based review mechanism and intensified monitoring and accountability framework for effective implementation of targeted rapid interventions to improve the routine immunization coverage.
- IMI is supported by 11 other ministries and departments, such as Ministry of Women and Child Development, Panchayati Raj, Ministry of Urban Development, Ministry of Youth Affairs among others.
Pradhan Mantri Gramin Digital Saksharta Abhiyan launched
Prime Minister Narendra Modi recently launched the Pradhan Mantri Gramin Digital Saksharta Abhiyan (PMGDISHA) at Gandhinagar in Gujarat.
- PMGDISHA is government initiative with an objective to impart digital literacy among the people residing in rural areas. It is an important initiative under Modi’s vision of ‘Digital India’ that intends at making one person in every family digitally literate.
- This scheme will focus on making at last six crore people in rural areas (across States/UTs) digitally literate. By March 31, 2019, it is expected to reach around 40 per cent rural households in the country.
- Under free of cost PMGDISHA scheme, people in the rural area will be trained to operate a computer, tablet, smartphones, etc. They will be taught how to access the Internet, government services, undertake digital payment, compose e-mails, etc.
PM Modi lays Foundation Stone for Bhadbhut Barrage over Narmada River
Prime Minister Narendra Modi has laid the foundation stone for Bhadbhut Barrage to be built over Narmada River in Bharuch Gujarat. Mr Modi also flagged off the Antyodaya Express between Udhna in Surat and Jaynagar in Bihar.
- Earlier in the day, the Prime Minister has inaugurated a new 500-crore rupees civil hospital and a medical college in Vadnagar, Gujarat.
- The Prime Minister, in his hometown (Vadnagar), also launched the intensified mission Indradhanush to accelerate progress towards the goal of full immunization coverage.
Prasar Bharati launches Online Application System for AIR Auditions
Prasar Bharati Chairman A Surya Prakash has launched an online application system for music auditions across all genres for the All India Radio.
- The initiative was launched on the occasion of 64th Akashvani Sangeet Sammelan in New Delhi. It is believed that with the introduction of this facility, the aspirants who want to apply and get themselves graded will have a better experience in terms of accessibility and availability.
President launches Mata Amritanandamayi Math Project Jeevamritham in Kerala
President Ram Nath Kovind has launched 100 crore rupees Mata Amritanandamayi Math Project "Jeevamritham "to provide the filtration system for cleaning drinking water to 5000 villages across India, in Kollam district in Kerala.
- The President also distributed the certificates to three villages out of 12 villages in the States of Bihar, UP, Tamil Nadu, Madhya Pradesh, Chattisgarh, Uttarakhand, Maharashtra and Kerala, which were adopted by the Math, verified as Open Defecation Free by Swatch Bharat Abhiyan.
Haj Committee Recommends Abolishing of Subsidy
The government was appointed Committee on Haj Policy has recommended phasing out of subsidy for Haj pilgrims and allowing women devotees above 45 years of age to travel in a group of at least four without a male.
- The Committee presented its report on New Haj policy 2018-22 to Minority Affairs Minister Mukhtar Abbas Naqvi in Mumbai.
- In view of the Supreme Court direction, the Ministry had set up the Panel under the Chairmanship of former Secretary Afzal Amanullah to review the existing Haj Policy and to suggest a framework for new Haj policy 2018-22.
India, Ethiopia Sign Agreements on Trade, Communication
India and Ethiopia has signed agreements on trade, communication and media to boost bilateral ties. The agreements were signed after wide-ranging talks between President Ram Nath Kovind and his Ethiopian counterpart Mulatu Teshome at Addis Ababa in Ethiopia.
- The two leaders discussed economic relations between the two countries and also support to Ethiopia in the power healthcare, and education sectors.
- The President also thanked Ethiopia for its participation in the International Solar Alliance (ISA), established in 2015.
Hurricane Nate moves Toward the second Landfall on Gulf Coast in the USA
In the United States, hurricane Nate has made landfall near the mouth of the Mississippi River in Louisiana. According to the US National Hurricane Center, the storm with maximum sustained winds of 137 kilometres per hour is moving north and a second landfall is expected on the Mississippi coast later.
- A state of emergency has been declared in four southern US states with Hurricane Nate gathering strength. Louisiana, Mississippi, Alabama and parts of Florida have issued hurricane warnings and evacuation orders.
- The measures apply to parts of the city of New Orleans, which was devastated by Hurricane Katrina 12 years ago.
Why do we need external benchmarks while pricing loans?
An internal Study Group constituted by the Reserve Bank of India (RBI) has recommended that banks should set interest rates based on an external benchmark and not as per internal benchmarks as is the practice now.
- The present loan pricing regime, that is, the marginal cost of fund based lending rate (MCLR) or the base rate under the previous regime were both calculated based on banks’ internal factors such as cost of funds. They are insensitive to changes in the policy interest rate or repo rate.
- The study group has cited 13 possible candidates as external benchmarks including the weighted average call rate (WACR), collateralised borrowing and lending obligation (CBLO) rate, market repo rate. However, the report also said that no instrument in India met all the requirements of an ideal benchmark.
‘BIMSTEC Disaster Management Exercise- 2017’
India is all set to hold the first ‘BIMSTEC Disaster Management Exercise- 2017’. BIMSTEC DMEx-2017 will be conducted by the National Disaster Response Force (NDRF) as the lead agency.
- Delegates from all seven nations of the ‘Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation’ (BIMSTEC) grouping, – namely Bangladesh, Bhutan, India, Myanmar, Nepal, Sri Lanka and Thailand, representatives from Embassies/High Commissions of BIMSTEC nations in Delhi, National Disaster Management Authority (NDMA), and Senior Officers from the Nodal Ministries will participate in the event.
- This Exercise will be a platform for sharing Best Practices on all aspects of Disaster Risk Reduction (DRR), strengthening regional response and coordination for Disaster Management among the BIMSTEC member countries.
