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04 October 2017 - Current Affairs

Government Names Rajnish Kumar as SBI's Next Chairman

  • The Government named Rajnish Kumar as the new chairman of State Bank of India, for a three-year term. Kumar will succeed Arundhati Bhattacharya.
  • At present, Rajnish Kumar is one of the managing directors of SBI. 
  • The Banks Board Bureau (BBB) had interviewed four managing directors for the post at the end of June and had recommended a name to the government. 
  • The government had extended Bhattacharya’s tenure for a year, with effect from October 7, 2016.

Fourth Bi-monthly Monetary Policy Statement Released by RBI

  • On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC) decided to keep the policy repo rate under the liquidity adjustment facility (LAF) unchanged at 6.0 percent.
  • Consequently, the Reverse Repo Rate (RRR) under the LAF remains at 5.75 percent, and the Marginal Standing Facility (MSF) rate and the Bank Rate at 6.25 percent. 
  • The projection of real Gross Value Added (GVA) growth for 2017-18 has been revised down to 6.7 percent from the August 2017 projection of 7.3 percent, with risks evenly balanced.

Piaggio Vehicles Private Ltd to export made in India vehicles to Sri Lanka and Bangladesh.


  • Two Wheeler and Commercial Vehicles Manufacturer Piaggio Vehicles Private Ltd (PVPL) will export it’s products to Sri Lanka and Bangladesh.
  • Piaggio is already exporting to Nepal and South America.
  • It also manufactures 3- and 4-wheeled commercial vehicles at it’s manufacturing facility in Baramati, Maharashtra.
  • Piaggio introduced the new Vespa Red in India. It is built in partnership with RED organisation to fight AIDS.

The Union Government reduced the excise duty on petrol and diesel by ₹2 per liter.

  • The government reduced the excise duty on petrol and diesel by ₹2 per liter to reduce the impact of rising international prices of crude oil.
  • Petroleum Minister Dharmendra Pradhan announced on Tuesday that the rate cuts will be implemented from October 4th.

Navy chief Admiral Sunil Lanba to visit Vietnam to improve military ties.

  • Navy chief Admiral Sunil Lanba will visit Vietnam to build military ties with Vietnam and other countries in the Asia Pacific region.
  • Admiral Lanba is chairman of the chiefs of staff committee.
  • He will hold talks with Vietnam PM Nguyen Xuan Phuc, Defense Minister General Ngo Xuan Lich from October 4 to 7.
  • India has offered the Brah-Mos cruise missiles and the Akash surface-to-air missile to Vietnam.
  • India is also training Vietnamese fighter pilots to fly the Sukhoi-30 jets,and it is also training Vietnamese sailors to operate Kilo-class submarines.

Scorpene Submarine Khanderi begins trial runs.

  • The second Scorpene Submarine Khanderi began sea trials last week.
  • The third submarine Karanj will be launched by the year-end.
  • Khanderi is named after an island fort of Maratha ruler Chhatrapati Shivaji.

Uzbekistan to supply Uranium to India.

  • Uzbekistan, the seventh biggest uranium exporter in the world, will export uranium to India to improve its relations.
  • Prime Minister Narendra Modi and Uzbek President Shavkat Mirziyoyev met during the Shanghai Cooperation Organisation (SCO) Summit in Astana.
  • India currently uses uranium imported from Kazakhstan, Russia and Canada.
  • India will also import uranium from Namibia and Mongolia and Australia.

India A defeated New Zealand A to win the series 2-0.

  •  India A defeated New Zealand A by an innings and 26 runs to win the Test series 2-0.
  • New Zealand scored 211 in their first innings, and 210 in their second innings.
  • Leg-spinner Karn Sharma and left-arm spinner Shahbaz Nadeem got 5/78 in 20.3 overs and 4/41 in 26 overs respectively.

India A women’s team beat Tasmania at the 2017 Australian Hockey League.

  • India A beat Tasmania 1-0 in the first round of the Australian Hockey League.
  • They will now play Western Australia in the second round.

Dr Soumya Swaminathan has been appointed as Deputy Director General of World Health Organisation.

  • Dr Soumya Swaminathan is the director-general of the Indian Council of Medical Research (ICMR).
  • Swaminathan is a paediatrician and clinical scientist known for her research on tuberculosis.
  • Swaminathan is the daughter of Dr M S Swaminathan known as the father of India’s green revolution.
  • Director-General Dr Tedros Adhanom Ghebreyesus announced the new WHO leadership team.
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