Daily Current Affairs Updates– 3rd September 2015:
Daily Current affairs News Updates about the National and International events were listed here. Candidates those who are preparing for IBPS/SBI/PO/Clerk exam and all other competitive exams can use this.
1). Union Government approved the reimbursement of Rs. 113 crores to incur losses on pulseimport
· The 4 governmental agencies which suffered losses by importing pulses are as follows
a. National Agricultural Cooperative Marketing Federation of India (NAFED)
b. Metals and Minerals Trading Corporation of India (MMTC)
c. State Trading Corporation of India (STC)
d. PEC
· This decision of the government was taken as recommended by Union Ministry of Food and Consumer Affairs
· This reimbursement amount will help the government agencies to become
financially sound and to intensify its trading activities to bridge the demand-supply gap
financially sound and to intensify its trading activities to bridge the demand-supply gap
2). West-Central Railway (WCR) became the 1st Railway zone in Indian Railways to eliminate allunmanned level crossings
· This was done as a safety initiative of Indian Railways as the accidents that occurred due to unmanned railway crossings had killed 126 people in 2014-15
· Headquarters of WCR zone – Jabalpur, Madhya Pradesh
· A total of 118 unmanned level crossings of WCR zone were eliminated out of which
a. 80 crossings were eliminated in 2014-15
b. 38 crossings were eliminated in August 2015
· This feat was achieved by constructing 33 Limited Height Sub Ways (LHSW) and manning30 level crossings
3). Union Finance Ministry announced the merger of commodities market regulator Forward Markets Commission (FMC) with Securities Exchange Board of India (SEBI)
· This will create a unified regulator for commodities and capital markets
· 3 national and 6 regional commodity exchanges will come under the national capital market regulator SEBI with an effect from 28th September 2015
· Regulation of commodity derivatives Market will shift to SEBI under the Securities Contracts Regulation Act (SCRA) 1956
· The union government repealed the Forward Contract Regulation Act (FCRA) 1952 thus dissolving the FMC
4). India’s National Stock Exchange (NSE) signed a MoU with the Stock Exchange of Mauritius(SEM) to enable cooperation between the 2 exchanges
· Aim of the MoU are as follows
a. To facilitate a strategic relationship between the 2 organizations
b. To develop channels for sharing knowledge mutually
c. To develop mutual synergies for growth and development
· This MoU will enable cooperation between the two organizations in the following areas
a. Education
b. Training & knowledge transfer in securities markets
c. Product development
d. Indices creation
e. Capacity development in surveillance and investigation
· The following dignitaries were present when the MoU was signed
a. Prime Minister of Mauritius – Anerood Jugnauth
b. Minister of Financial Services – S. Bhadain
5). ICICI Lombard General Insurance entered into a joint venture with the Catholic Syrian Bank(CSB)
· This is a bancassurance tie-up – the bank will act as a insurance agent
· The ICICI Lombard General Insurance will offer its products through the 431 branches of the CSB
· The bank’s 431 branches are distributed across 15 states and 4 union territories of India
· CSB focuses on Small and Medium Enterprises (SME) and retail segments apart from NRI customers
6). South African city of Durban to host the 22nd Commonweath Games in 2022
· The Commonwealth Games Federation (CGF), the nodal agency of this multi-sports events announced this in its General Assembly held in New Zealand
· An African nation has been chosen as the host of the Commonwealth Games for the 1sttime
· Durban was the lone bidder after Edmonton (Cananda) withdrew
· As per the announcement 22nd Commonwealth Games will be held from 18th to 30th July 2022
· The opening ceremony will be held on the birthday of the late South African President and Anti-apartheid leader Nelson Mandela
· 21st Commonweath Games 2018 – Gold Coast, Australia
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