Daily Current Affairs 7 October 2017 for Banking/Insurance/SSC and other related exams.
Centre to examine problems faced by people along border, LoC
Due to ever-present threat of cross-border firing from Pakistan, the Centre has set up a study group to examine the problems being faced by the people living near the International Border and the Line of Control (LoC) in Jammu and Kashmir.
- The group will meet people living in the border areas of Valley, security forces were deployed, district administration officials, local public representatives were assigned their duties and will submit their report within two months. Special secretary in the home ministry Rina Mitra will head the team.
Aadhaar made mandatory for small saving schemes
The Finance Ministry has made Aadhaar mandatory for small saving schemes including post office deposits and Public Provident Fund.
- According to the provision, which is already in effect, all depositors have been given time till December 31, 2017 to provide the 12-digit unique identification number and link it with their accounts.
- The deadline for seeding PAN and bank accounts with Aadhaar has also been set as December 31.
No PAN, Aadhaar details for jewellery above Rs 50,000: GST council
The GST council meet chaired by Finance Minister Arun Jaitley mentioned that permanent account number (PAN) or Aadhaar would not be mandatory if jewellery is purchased above Rs 50,000.
- As per the council, if a person is buying jewellery above Rs 50,000 will not be required to submit thier PAN or Aadhaar card details.
Chhattisgarh bans use of chlorinated plastic and Polyvinyl Chloride
In Chhattisgarh, the state government has banned the use of chlorinated plastic and Polyvinyl Chloride -PVC. The advertising and promotion materials like PVC banners, flex, and hoardings have also been banned with immediate effect. Chhattisgarh government decision is with an objective to conserve and improve the environment.
Mizoram has highest number of clouded leopards in Southeast Asia
Mizoram’s Dampa Tiger Reserve now holds the distinction of housing the highest number of clouded leopards in Southeast Asia, the state government has claimed.
- The density of population of clouded leopards, locally knows as ‘Kelral’, is 5.14 per 100 sq km in the reserve, situated along the Mizoram-Bangladesh-Tripura.
BRICS-themed subway train debuts in China
A BRICS-themed subway train with carriages representing the five member nations including India has started test operations in China’s southeastern Xiamen city.
The subway train, which started its test run, has six carriages, five of which represents different cultures of the BRICS countries — Brazil, Russia, India, China and South Africa.
- The Indian carriage depicts elephants and yoga.
- The Chinese carriage is red and displays icons such as the Great Wall and Tian’anmen Square.
- The Brazilian carriage is green and decorated with images of footballs and football stars.
- The Russian carriage shows off the country’s ballet and matryoshka dolls.
- The South African carriage displays pictures of diamonds.
- The sixth carriage combines cultural elements from all the five BRICS countries.
US FDA approves first test to screen Zika virus in donated blood
The U.S. Food and Drug Administration (FDA) has approved for the first time a test for detecting the Zika virus in donated blood.
- The Zika virus is transmitted primarily by mosquitos (Aedes aegypti), but it can also spread through blood transfusion and sexual contact.
- The cobas Zika test, manufactured by Roche Molecular Systems Inc., is intended for use by blood collection establishments to detect Zika virus in blood donations, not for the individual diagnosis of Zika virus infection.
BANKING & FINANCE
RBI imposes restrictions banking business on Oriental Bank of Commerce
The Reserve Bank of India (RBI) has imposed certain restriction on banking activities of government-owned Oriental Bank of Commerce which has suffered huge losses due to sharp rise in bad loan. This will be the seventh bank among the 21 PSU banks to be placed under restrictions since March this calendar year.
- OBC will face restrictions in terms of opening new branches, hiring staff and lending to sub-investment grade companies. PCA is imposed when thresholds related to capital, asset quality and earnings are breached. The bank can continue to accept deposits and give small tickets loans.
- RBI has placed restrictions on six banks which include Dena Bank, Central Bank of India, IDBI Bank, Indian Overseas Bank, Bank of Maharashtra and UCO Bank
Tata AIA Life launches ‘Eazy Connect’
Private insurer Tata AIA Life announced the launch of ‘Eazy Connect’, that will extend online customer service to social media platforms. The chatbot will be available through social media platforms and is developed to respond to the most frequently asked queries.
HDFC Life, Apollo Munich team up for dual cover
HDFC Life Insurance and Apollo Munich Health have come together to launch ‘Click2Protect Health plan’, which provides both life and health cover under a single plan.
Axis Bank acquires Freecharge, appoints Sangram Singh as CEO
The country’s third largest private sector lender Axis Bank has acquired payments wallet Freecharge for Rs. 373 crore in an all-cash deal and appointed Sangram Singh as its CEO. Sangram Singh has been appointed as the CEO of Freecharge Payment Technologies Private Ltd.
Filmmaker Kundan Shah passes away
National Award-winning director Kundan Shah, best known for his dark satire “Jaane Bhi Do Yaaro” and coming-of-age comedy “Kabhi Haan Kabhi Naa”, has passed away.