Daily Current Affairs for Competitive Exams: October 1, 2016

Hello Readers,
Here are today’s important headlines with key details for UPSC, SSC, IBPS and other competitive examinations

1) Union Government constitutes a committee for Monetary Policy

  • The Reserve Bank of India Act, 1934 (RBI Act) has been amended by the Finance Act, 2016, in order to provide a statutory and institutionalized framework for a Monetary Policy Committee for maintaining price stability.
  • As per the provisions of the RBI Act, out of the six members of Monetary Policy Committee, three members will be from the RBI. The other three members of the MPC will be appointed by the Central Government.

About MPC:
In exercise of the powers conferred by section 45ZB of the Reserve Bank of India Act, 1934, the Union Government has accordingly constituted the Monetary Policy Committee of RBI, with the following composition:

  • The Governor of the Bank: Chairperson, ex-officio
  • Deputy Governor of the Bank, in-charge of Monetary Policy: Member, ex-officio
  • One officer of the Bank to be nominated by the Central Board: Member, ex-officio
  • Chetan Ghate, Professor, Indian Statistical Institute (ISI): Member
  • Pami Dua, Director, Delhi School of Economics (DSE): Member
  • Ravindra H. Dholakia, Professor, Indian Institute of Management (IIM) Ahmedabad: Member

The Members of the Monetary Policy Committee appointed by the Union Government will hold office for a period of four years, with immediate effect or until further orders, whichever is earlier.

What will MPC do:

  • The Monetary Policy Committee will be entrusted with the task of fixing the benchmark policy rate (repo rate) required to contain inflation within the specified target level.
  • A Committee-based approach for determining the Monetary Policy will add a lot of value and transparency to monetary policy decisions.
  • The meetings of the Monetary Policy Committee will be held at least 4 times a year and it will publish its decisions after each such meeting.

2) Union Cabinet approves ratification of Paris Agreement

  • The Union Government has approved the ratification of the Paris Agreement on Climate Change on September 29, 2016. The Agreement will be ratified on October 2, 2016.

India’s Ratification of the Paris Agreement:

  • India’s decision to ratify the agreement will take the number <you’ve mentioned a per cent, not a number at the end of this statement> of cumulative level of emission of countries to 51.89 percent.
  • With its decision to ratify the Agreement, India will be one of the key countries that will be instrumental in bringing the Paris Agreement into force.
  • It will underline India’s responsive leadership in the community of nations committed to global cause of environmental protection and climate justice.

About Paris Agreement

  • The Paris Agreement was adopted by 185 nations on December 2015 and India signed the Paris Agreement in New York on 22 April 2016.
  • A total of 191 countries have signed to the Paris Agreement so far.
  • As per the provisions of the Paris Agreement, the treaty will come into force as and when 55 countries contributing to 55 percent of total global emission ratify the agreement.
  • So far, 61 countries have deposited their instruments of ratification, acceptance or approval accounting in total for 47.79 percent of the total global greenhouse gas emissions.

3) International Day of Older Persons 2016

  • The International Day of Older Persons (IDOP) is on October 1, 2016, The theme for this year is ‘Take A Stand Against Ageism.
  • The theme for the 2016 IDOP draws attention to, and challenges negative stereotypes and misconceptions about older persons and ageing.
  • Ageism is a widely prevalent and prejudicial attitude that stems from the assumption that age discrimination, and sometimes neglect and abuse of older persons is a social norm and therefore, acceptable.

4) Tirupati Airport awarded Best Tourist-Friendly Airport

  • Airports Authority of India’s Tirupati Airport was awarded the Best Tourist-Friendly Airport under the category for State Annual Excellence Awards for the year 2015-16 by Andhra Pradesh Tourism, on September 28, 2016.
  • The award was presented on the eve of World Tourism Day by the Chief Minister of Andhra Pradesh Nara Chandra Babu Naidu at Bhawani Islands, Vijayawada.

About Tirupati Airport

  • Tirupati Airport was established in the year 1976.
  • It is a public airport located at Renigunta, a suburb of Tirupati in the state of Andhra Pradesh.
  • The airport is located 14 km away from Tirupati and 39 km from Venkateswara Temple, Tirumala.

5) Renowned Bangla writer Syed Shamsul Haq passes away

  • Syed Shamsul Haq, one of Bangladesh’s best known writers, passed away at the age of 81, on September 27, 2016 in Dhaka, Bangladesh. He was known for his mastery over novels, poetry, essays and plays. He was also vocal against religious fundamentalism.
    About Syed Shamsul Haq
  • He was Born on December 27, 1935, in Kurigram, which was then in Bengal Presidency of British India.
  • His notable writings include Boishakhey Rochito Ponktimala, Ekoda Ek Rajjey, Birotihin Utsab, Protidhwonigon and Opor Purush.
  • He also wrote innumerable patriotic songs which inspired the 1971 Liberation War fighters.
  • He was also awarded with various awards including- Bangla Academy Literary Award (1966), Ekushey Padak (1984) and Swadhinata Padak (2000), the highest civilian award of Bangladesh.

6) Arunachal Pradesh CM flags off all-women Mt. Gorichen Expedition

  • The Chief Minister of Arunachal Pradesh, Pema Khandu, flagged off the all-women Mount Gorichen Expedition, on September 29, 2016.
  • This will be the first all women team attempting to summit Mt. Gorichen, the second highest peak of Arunachal Pradesh. Its altitude is 6488 meter (21286ft) high above sea level. It belongs to the Himalaya Mountain Group and is a sub-range to Assam Himalaya. It is also the Headwaters of the Kameng River in Tawang.
  • Anshu Jansempa, who has climbed Mt Everest twice, is leading the team of 10 members from Jammu and Kashmir, Uttarakhand, Himachal, Sikkim and Arunachal Pradesh with four support staff.

Here is a list of last few articles on Current Affairs and the Monthly Bullet on Current Affairs for SSC
Monthly Bullet Pdf for September 2016

Current Affairs Bullet for September 29, 30
Current Affairs Bullet for September 28
Current Affairs Bullet for September 27
Current Affairs Bullet for September 26
Current Affairs Bullet for September 25
Current Affairs Bullet for September 24
Current Affairs Bullet for September 23
Current Affairs Bullet for September 22