08 October 2016 - Current Affairs

8th October : Indian Air Force Day

  • The Air Force Day 2016 is being observed annually on 8th October across India.
  • This is the 84th celebration of the Day that began in 1932.
  • Today, the Indian Air Force (world’s fourth largest )has displayed various Aircraft at Air Force Station Hindan in Ghaziabad,Uttar Pradesh.
  • The Indian Air Force (IAF) is the air arm of the Indian armed forces.
  • It was officially established on 8 October 1932 as an auxiliary air force of the British Empire and the prefix Royal was added in 1945 in recognition of its services during World War II.

Nobel Peace Prize for Colombia’s Juan Manuel Santos

  • Colombian President Juan Manuel Santos has awarded the Nobel Peace Prize 2016 for his resolute efforts to bring the country’s more than 50-year-long civil war to an end.
  • The award was also a tribute to the Colombian people who had not given up hope of a just peace as well as to the families of the countless victims of the war.
  • More than 260,000 people have been killed and around 45,000 missing over five decades, drawing in several leftist guerrilla groups, right-wing paramilitaries and drug gangs.
The Nobel Peace Prize is one of the five Nobel Prizes created by the Swedish industrialist, inventor, and armaments manufacturer Alfred Nobel, along with the prizes in Chemistry, Physics, Physiology or Medicine, and Literature.

Rajeev Rishi elected IBA Chairman

  • Chairman & Managing Director (CMD) of Central Bank of India Rajeev Rishi has been elected as the Chairman of the Indian Banks’ Association (IBA) for the financial year 2016-17.
  • Rishi took charge from Chairman and Managing director of Dena Bank Ashwani Kumar.
Indian Banks’ Association was formed on 26 Sept 1946 as a representative body of management of banking in India operating in India.

Justice Mohanty Appointed Acting CJ Of Jharkhand HC

  • Justice Pradip Kumar Mohanty has been appointed as the acting chief justice of the Jharkhand High Court.
  • He will replace Justice Virendra Singh.
  • Now Justice Mohanty assumes charge as acting chief justice of Madhya Pradesh, Andhra Pradesh/ Telangana and Jharkhand high courts.

Former CIC Shailesh Gandhi authors e-book on RTI

  • Shailesh Gandhi (69-year), former Central Information Commissioner (CIC) has authored an e-book in order to lend a better interpretation of the Right To Information (RTI) legislation for common people.
  • The e-book (81-page) named ‘RTI Act- Authentic Interpretation of The Statute’.

New Solar Powered Guard Van of Goods Train flagged off

  • Union Railways Minister Suresh Prabhu has flagged off the newly manufactured ‘Guard Van of Goods Train’, in New Delhi.
  • The train has been equipped for the first time with Solar powered Light, Fan, Mobile Charging Point along with the facility of Zero discharge Bio Toilet.

Petroleum Minister launches LPG scheme PMUY in Maharashtra

  • Union Petroleum Minister Dharmendra Pradhan has launched the Pradhan Mantri Ujjwala Yojana (PMUY) in Maharashtra (17th state) to provide free LPG connections to BPL households.
  • A target of 10 lakh connections has been set under PMUY for Maharashtra in 2016-17 out of which one lakh connections are to be provided in Mumbai.
  • The move will benefit 91 lakh households living below the poverty line in Maharashtra over the next three years.

Payment Banks need RBI’s Prior product approval

  • The Reserve Bank of India (RBI) has notified entities that have been granted a payments bank (PB) licence will need to take specific approval for products they would be offering to customers.
  • RBI has issued separate operating guidelines for payments banks in view to focus on financial inclusion.
  • Earlier,RBI had granted in-principle licences to 11 payments banks in August 2015.

Adoption of GST tax will boost India’s medium-term growth: IMF

  • The International Monetary Fund (IMF) has said that adoption of Goods and Services tax (GST ) will boost India’s medium-term growth.
  • It has been mentioned in the IMF’s latest Asia Pacific regional economic update.
  • The IMF opined that as shown by India, progress on reforms could initiate business investment, including already strong FDI inflows, which will further increase domestic demand.
  • Goods and Services tax (GST) is uniform single indirect tax regime throughout the country that has subsumed central and state indirect taxes into single indirect tax.

Know about IMF:

The International Monetary Fund (IMF) is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

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