Important Current Affairs 23rd October 2017

Current Affairs 23rd October 2017: APPOINTMENT

IPPB appoints Suresh Sethi as its MD & CEO

India Post Payments Bank (IPPB) has appointed Mr. Suresh Sethi, the former MD of Vodafone M-Pesa Ltd. as its Managing Director & Chief Executive Officer. 
●    Mr. Sethi had been selected by the Banks Board Bureau from amongst top contenders for the post, from both public and private sector Banking and Fintech professionals. 
●    Mr. Sethi has broad international experience of over 27 years in the Banking and Financial Services industry with Citigroup, YES Bank and Vodafone M-Pesa across India, Kenya, UK, Argentina and US.
●    He has extensively worked in the Financial Inclusion space leveraging Fintech and digital led innovation.
●    His experience in the Digital & Mobile Payments space will be of great relevance to IPPB which aims to deliver financial inclusion with special focus in rural and semi-urban India and among the under-banked segments. 
●    Mr. Sethi takes over from the dynamic leadership of Mr. A.P. Singh who had been the interim MD & CEO of IPPB since January 2017.

Centre appoints Shri Dineshwar Sharma as its Representative in J&K 

In a major development, the Centre today appointed Shri Dineshwar Sharma, former Director of Intelligence Bureau, as the Representative of Government of India to initiate and carry forward a dialogue with the elected representatives, various organizations and concerned individuals in the State of Jammu and Kashmir.
●    Shri Sharma will initiate a sustained interaction and dialogue to understand the legitimate aspirations of the wide cross sections of society, particularly the youth in Jammu and Kashmir and communicate them to the State Government and the Centre.
●    The move comes in the wake of various steps taken by Prime Minister Shri Narendra Modi to address the needs of the people of Jammu and Kashmir. 
●    It may be recalled that during his visit to Srinagar on November 7, 2015, the Prime Minister had announced a package of Rs 80,068 Crores for the overall development of the State. 
●    He has also met the leaders of political parties from time to time and received suggestions with regard to the issue of peace and development in J&K.

Shri Ngangom Sarat Singh appointed as member of the Joint Electricity Regulatory Commission (JERC) for Manipur and Mizoram 

Union Minister of State (IC) for Power and New & Renewable Energy, Shri R.K. Singh administered oath of office and secrecy to Shri Ngangom Sarat Singh, here today, on his appointment as member of the Joint Electricity Regulatory Commission (JERC) for Manipur and Mizoram. 
●    The JERC is a two-member Commission, each member representing the respective participating State.
●    Shri Ngangom Sarat Singh has been appointed as the member from the Manipur side for a period of 5 years, with effect from the date of his taking charge of the post or till he attains the age of 65 years, whichever is the earliest.
●    Shri Ngangom Sarat Singh holds B.Sc. degree in Electrical Engineering and has retired from the post of Superintending Engineer (Electrical) in the Electricity Department of Government of Manipur.
 

Current Affairs 23rd October 2017: NATIONAL NEWS

New Education policy by December: MoS HRD Dr. Satya Pal Singh 

Union Minister of State for Human Resource Development Shri Satya Pal Singh has said that the new education policy is in final stages and it would be announced in December. 
●    Inaugurating a 'National Academic meet' in Thiruvananthapuram today, Dr. Singh said the policy envisages to 'correct' the course of education system in the country, that has followed a colonial mindset. 
●    He pointed out that unfortunately after independence, most of the academicians followed the footsteps of British and Western scholars and deliberately denigrating Indian culture. 
●    Stating that the biggest challenge being faced by the education system and the government is 'how to de-colonise the Indian mind' and the government is working on the policy in this regard. 
●    The Minister said it will be the first education policy that was discussed layer by layer and threadbare.
●    Dr. Singh said improving the quality of education from the primary level, making higher education affordable to people and accessing higher education to more are some of the major issues faced by the education system. 
●    He said skill development is one of the major areas the government has given thrust upon. 

India’s First Pradhan Mantri Kaushal Kendra for Skilling in Smart Cities launched under Skill India Mission in collaboration with NDMC 

To bring momentum in skilling through collaborative efforts, the Union Home Minister Shri Rajnath Singh along with Minister of Petroleum and Natural Gas and Skill Development and Entrepreneurship Shri Dharmendra Pradhan here today inaugurated India's first Pradhan Mantri Kaushal Kendra (PMKK) for Skilling in Smart Cities, in collaboration with New Delhi Municipal Council (NDMC). 
●    The ministers also laid the foundation for a Skill Development Centre at Moti Bagh and a Centre of Excellence at Dharam Marg, New Delhi.
●    Affirming synergies with the Government of India’s flagship programs, the new skill development centres underscore the commitment of the Ministry of Urban Affairs & Housing (MUHA) and the Ministry of Skill Development & Entrepreneurship (MSDE) to support skilling in smart cities. 
●    National Skill Development Corporation (NSDC), an executive arm of MSDE, has collaborated with New Delhi Municipal Council Smart City Limited (NDMCSCL) to extend cooperation for setting up of PMKK Centres for Smart Cities, to provide skill training for unemployed youth through its short-term training (STT) module and contribute to the capacity building of municipal employees through Recognition of Prior Learning (RPL) program.
●    The event also had graceful presence of dignitaries such as Smt. Meenakshi Lekhi, Member of Parliament, Lok Sabha, New Delhi; Shri Naresh Kumar, Chairman, NDMC; Shri Karan Singh Tanwar, Vice – Chairman, NDMC; Shri Surender Singh, MLA & Member, NDMC and other senior officials from MUHA, MSDE, NSDC and NDMC.

RIL market cap inches closer to Rs 6 lakh crore mark

Reliance Industries' market valuation is fast inching closer to the Rs 6 lakh crore mark, buoyed by a rally in its share price.
●    At the close of trade on Monday, the company's market capitalisation stood at Rs 5.94 lakh crore, which is just around Rs 6,000 crore short of the Rs 6 lakh crore mark.
●    Shares of the company rose by 3.05 per cent to close at Rs 938.10 on the BSE. 
●    During the day, the share price jumped 3.63 per cent to Rs 943.45 -- a 52-week high.
●    On the NSE, shares of the company gained 3.28 per cent to end at Rs 939.75.
●    In terms of equity volume, 5.40 lakh shares of the company were traded on BSE and over one crore shares changed hands on NSE during the day. 
●    RIL is the country's most valued firm followed by TCS (Rs 4.95 lakh crore), HDFC Bank (Rs 4.81 lakh crore), ITC (Rs 3.25 lakh crore) and HDFC (Rs 2.74 lakh crore).

Current Affairs 23rd October 2017: WORLD NEWS

Japanese Prime Minister Abe wins big in national elections

Japanese media said Monday that Prime Minister Shinzo Abe's Liberal Democratic Party and a small coalition partner had together secured at least 312 seats in the 465-seat lower house of parliament, passing the 310-barrier for a two-thirds majority. Four seats remained undecided.
●    The victory boosts Abe's chances of winning another three-year term next September as leader of the Liberal Democratic Party. 
●    That could extend his premiership to 2021, giving him more time to try to win a reluctant public over to his longtime goal of revising Japan's pacifist constitution.
●    In the immediate term, the win likely means a continuation of the policies Abe has pursued since he took office in December 2012 — a hard line on North Korea, close ties with Washington, including defense, as well as a super-loose monetary policy and push for nuclear energy. Stocks rose in Tokyo on Monday morning.
●    Abe's ruling coalition already has a two-thirds majority in the less powerful upper house. 
●    Having a so-called supermajority in both houses gives them virtually a free hand to push even divisive policies and legislation.