Current affairs updates for August 24th , 2017 – General Awareness GK for IBPS, SBI, SSC Exams

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This is a extract of our 10by10 Current Affairs show – Live Video Stream from Youtube.
Watch the show live every evening at 08.00P.M. (as of 24/08/2017).

1. Prabhu offers to quit but Modi says ‘wait’

Ashwani Lohani is Railway Board chief


Railway Minister Suresh Prabhu offered his resignation on Wednesday owning “full moral responsibility” for recent train accidents, even as Air India Chairman and Managing Director Ashwani Lohani replaced A.K. Mital as Chairman of the Railway Board.
Mr. Prabhu said “I am extremely pained by the unfortunate accidents, injuries to passengers and loss of precious lives. It has caused me deep anguish. I met Prime Minister Narendra Modi taking full moral responsibility. Honourable PM has asked me to wait,” in a series of tweets.

2. SC: liquor sale ban

does not extend to municipal areas


The Supreme Court has clarified that its nationwide ban on sale of liquor within a distance of 500 metres along National and State Highways does not extend to licensed establishments municipal areas.
The clarification comes as a huge relief for bar and hotel owners who were forced to shut down operations post the December 15 ban. Thousands were left jobless after these establishments were closed down.

3. OBC list to be sub-categorised

Proposal gets Union Cabinet’s nod


In a move that could have a far-reaching political and social impact, the Union Cabinet approved a proposal to set up a commission which will examine the issue of sub-categorisation of the Other Backward Classes (OBC).
The committee has a three-point mandate. One, it has to examine the “extent of inequitable distribution of benefits of reservation” among various castes and communities that come under the Central OBC list.

4. Supreme Court Declared

Right To Privacy Is Fundamental Right


A nine-judge Constitution Bench of the Supreme Court told Right to Privacy is a Fundamental right which will impact the lives of 134 crore Indians and may give a massive jolt to government’s Aadhaar push.
Delivering a unanimous verdict, Supreme Court overruled the earlier eight-judge bench judgment in MP Sharma case and six-judge bench judgment in Kharak Singh case — both of which had ruled that privacy is not a Fundamental Right.
Supreme Court said Right to Privacy is intrinsic to Right to Life granted under Article 21 of the Constitution.

5. Modi breaks protocol to meet Deuba

‘friendly neighbour Nepal’ gets a warm welcome


Nepal Prime Minister Sher Bahadur Deuba, who arrived here on Wednesday, asserted Kathmandu’s role in regional affairs, and committed himself to the new democratic Constitution of his country.
The official visit will begin only on Thursday, Prime Minister Narendra Modi broke protocol and held a formal meeting with Mr. Deuba in the evening. After the meeting, Mr. Modi said in a social media post, “Happy to welcome Right Honourable Shri Sher Bahadur Deuba ji, Prime Minister of close and friendly neighbour Nepal.”

6. New mechanism to spur PSB mergers

Cabinet gives in-principle approval for oversight body


Paving the way for quicker consolidation among public sector banks, the Cabinet approved ‘in-principle’ the constitution of an alternative mechanism, likely to be a ministerial group, that will oversee the proposals for mergers among banks.
Finance, Corporate Affairs and Defence Minister Arun Jaitley said that “As of today, there are 20 public sector banks plus the State Bank of India (SBI),” after the Cabinet meeting on Wednesday, adding SBI’s five subsidiaries and Bharatiya Mahila Bank had already been merged with the country’s largest bank.

7. RBI not for NBFCs taking deposits

Licenses given not to be revoked


The Reserve Bank of India (RBI) is not in favour of allowing non-banking finance companies (NBFCs) to accept deposits, Deputy Governor N.S. Vishwanathan said, adding that while the central bank has given a few NBFCs licenses to accept deposits, it would not do so in the future.

8. Banks must tighten bankruptcy norm

Lenders should start proceedings over NPAs beyond 3 months


To accelerate stress resolution in the banking system, Reserve Bank of India (RBI) Deputy Governor Viral Acharya said
“I think we should give banks three months to rectify the account. You can’t rectify the account, it is a NPA, you’ve to file this case in bankruptcy. Chapter closed,” referring to the recent decision by the markets regulator, Securities and Exchange Board of India, directing companies to disclose any loan default within a day.

9. Deepan pips Swapnil to title

Himanshu Sharma’s conquest of Sriram Jha earns him the third spot


After over five hours of drama and suspense, a determined Deepan Chakkravarthy landed a crushing blow to overnight leader Swapnil Dhopade’s title-aspirations and claimed the honours in the National Challengers chess championship.
Needing a victory to deny Swapnil a well-deserved title, Deepan came for the 13th round determined to test his rival to the hilt. Sensing that Swapnil was playing for a draw needed to emerge as champion, Deepan exploited the passivity of his rival. Gradually, Swapnil cracked under pressure.

10. Karnataka ropes in Microsoft to help farmers

to develop a farm price forecasting model


Karnataka Agriculture Department has signed a Memorandum of Understanding with Microsoft India to develop a unique “farm price forecasting model” using latest IT tools in a bid to help farmers, administrators and other stakeholders to understand the market behaviour in advance.
The proposed initiative is said to be the first-of-its-kind in the country as it is a “multi-variate” one that takes into consideration various factors beyond the conventional supply-demand equation while forecasting the prices for crops. It will examine a slew of related factors including weather, rainfall and external factors that impact market behaviour.


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