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Important Current Affairs 10th September 2017

Important Current Affairs 10th September 2017

Current Affairs 10th September 2017: NATIONAL NEWS

Dr Jitendra Singh lauds distinguished contribution of Ahmedabad Space Application Centre 

The Union Minister of State (Independent Charge) of the Ministry of Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr Jitendra Singh has lauded the valuable contribution made by Space Application Center (SAC) Ahmedabad in providing original inputs for enriching the India’s Space Programme and also performing the role of value addition to several of the prestigious Space missions launched from ISRO, Sriharikota. 
●    Currently on a two-day visit to Gujarat, Dr Jitendra Singh held a detailed review meeting with the scientists of Space Application Centre led by its Director, Dr Tapan Misra. 
●    Dr Jitendra Singh made a special note of appreciation for some of the advanced technology developed at SAC, Ahmedabad with regard to origami lens, indigenously developed MMIC, Airborne low mass x-band Mini-SAR for strategic applications and disaster management, optical transceiver satellite mobile radio etc. 

Hon’ble Raksha Mantri Flags off Navika Sagar Parikrama 

Smt. Nirmala Sitharaman, Hon’ble Raksha Mantri flagged-off Indian Naval Sailing Vessel Tarini (INSV Tarini) with an all women crew from INS Mandovi boat pool, Goa at 01:00 PM today (10 Sep17). 
●    This is the first-ever Indian circumnavigation of the globe by an all-women crew and shall attempt to circumnavigate the globe on Indian Navy’s sailing vessel INSV Tarini. 
●    The crew is expected to return to Goa in April 2018, on completion of the voyage. 
●    The expedition will be covered in five legs, with stop-overs at 4 ports viz. Fremantle (Australia), Lyttleton (New Zealand), Port Stanley (Falklands), and Cape Town (South Africa). 
●    The event was attended by Shri Manohar Parrikar, Hon’ble Chief Minister of Goa, Admiral Sunil Lanba, the Chief of the Naval Staff, Vice Admiral AR Karve Flag Officer Commanding-in-Chief, Southern Naval Command, Vice Admiral R Hari Kumar, Controller Personnel Services, IHQ MoD (Navy) besides other senior naval retired and serving officials as well as civilian dignitaries including family members of the crew and sailing enthusiasts.

Successful Flight Test of 3rd Generation Anti Tank Guided Missile – NAG 

India’s indigenously developed 3rd generation Anti Tank Guided Missile (ATGM), Nag has been successfully flight tested twice by DRDO on 8-9-2017 against two different targets in the ranges of Rajasthan.
●    The ATGM Nag missile has successfully hit both the targets under different ranges and conditions with very high accuracy as desired by the Armed Forces.
●    With these two successful flight trials, and the flight test conducted earlier in June in the peak of summer, the complete functionality of Nag ATGM along with launcher system NAMICA has been established and marked the successful completion of development trials of Nag Missile.

Minister of Railways Shri Piyush Goyal chairs a high-level meeting on Safety with Railway Board officials

Minister of Railways and Coal, Shri Piyush Goyal today held a marathon meeting with members of full Railway Board & Safety Directorate of Railway Board to comprehensively review Safety measures for train operations. 
●    A detailed presentation on Safety was made at the meeting. 
●    There was threadbare discussion on the subject and the root cause of repeated cases of train accidents in recent past was thoroughly analysed. 
●    In the meeting, the Minister emphasised that the safety is paramount and there cannot & should not be any compromise on this front.
●     Unmanned Level Crossings accounted for 34% of accidents in 2016-17
●    Derailments due to defects in tracks
●    The special focus of the meeting was to identify measures to reduce accidents due to derailments which has emerged as one of the major causes of Train accidents. 
●    All unmanned level crossings should be eliminated expeditiously on the entire Indian Railway network in a year’s time from now. 

Assam enacts a major labour reform, employers can now fire 300 staff without prior govt nod

In a major labour reform, Assam has enacted the Industrial Disputes (Assam Amendment) Bill, 2017, which authorises employers to retrench up to 300 employees without seeking approval of the government. 
●    Assam assembly passed the bill by a voice voteon Thursday. 
●    Congress MLA, Sherman Ali Ahmed walked out of the House after his demand for a division on the bill was not allowed. 
●    Ahmed had sought an amendment and suggested that instead of increasing the threshold limited it should be reduced to 50. 
●    Minister for labour and employment Pallab Lochan Das argued that the bill has not been enacted to facilitate retrenchment of employees, but deals with issue of closure.

Current Affairs 10th September 2017: ECONOMY

Premium will decrease in crop insurance scheme

The government’s farm insurance scheme is in for a revamp just about one year after launch, with the focus now on increasing competition among insurers, lowering the average premium and widening the scope of cover to include losses due to natural disasters. 
●    There is tremendous potential to improve the Pradhan Mantri Fasal Bima Yojana started last year and a high-level team has asked to make it more holistic in coverage and a win-win proposition for all parties, a senior government official working closely on revamping the scheme. 
●    Under the existing scheme, farmers pay 1.5 per cent to 2 per cent as premium for most crops compared with the average of 11 per cent charged by insurance companies, and the remainder is equally divided and paid by the Centre and the state. 
●    The official said coverage under the insurance scheme may be widened to include damage and loss to housing and property in the event of a natural disaster. 
●    So far, such damage was covered by the National Disaster Response Fund.

PNB customers to pay after 5 free ATM transactions from October

PNB customers will have to shell out money beginning October if they carry out more than five transactions a month from the bank’s ATMs.
●    At present, account holders of the country’s second largest public sector bank can make any number of transactions in a month, financial or non-financial, at the bank’s ATMs without attracting any charge.
●    “The number of free transactions and the charges beyond these free transactions for PNB customers on PNB ATMs have been revised. 
●    The revised charges will be effective from October 1, 2017,” Punjab National Bank (PNB) said in a notice to customers.
●    The bank said savings fund/current/overdraft account holders would all attract charges at Rs 10 per transaction beyond a limit of five times a month even if the PNB card holder makes the transaction at PNB ATM only.
●    Thus, customers will be charged beyond free limits for doing financial transaction where cash withdrawal is being made through ATM and non-financial transaction for issue of mini-statement.

Forex reserves jump on $400 billion mark

India's foreign exchange reserves inch closer to the $400 billion supported by strong inflows from foreign investors into indian markets along with movement in gold reserves with the central bank as per data from the RBI released on Friday. 
●    According to sources in the market, there could be a very rare movement of gold reserves with the RBI which went up by almost $750 million to reach $20.6 billion as on September 1. 
●    "The increase in gold reserves is a big positive and could be mainly driven by lessening of uncertainty over imposition of Goods and Services Tax which could have driven up demand for gold in the market," said Soumya Kanti Ghosh, chief economist, State Bank of India. 
●    Bankers say accumulation of gold as reserves is also a strong point for the central bank as it is considered to be a safe haven much like Dollar. 

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