Current Affairs 8th October 2017 - Banking, SSC, UPSC Affairs

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Around 54,000 petrol pumps all over India will go on a day-long strike on October 13 in support of their long-pending demands. All India Petroleum Dealers Association President Ajay Bansal told that they will go on indefinite strike from October 27, if the demands are not met. Their Demands are: 1) Implementation of the pending agreement signed with oil marketing companies on November 4, 2016, scrapping unfair penalties imposed under Marketing Discipline Guidelines, and approved but not given dealer margins. 2) The Daily Mechanism has not benefitted the customer and the RO dealer by far and large. The policy needs to be reconsidered. 3) The proposed Home Delivery is riddled with safety issues, which could lead to serious mishaps and hence should be reconsidered. 4) The petroleum products should be brought under GST so that the dream of One Nation, One Tax could be fulfilled.  

India and the European Union agreed to strengthen ties in key areas of trade and security after their 14th summit, which was held on 6th October, 2017. The two sides also inked three pacts, including one on an international solar alliance. India and the EU have been strategic partners since 2004. Important Persons: President of the European Council - Mr. Donald Franciszek Tusk President of the European Commission - Mr. Jean-Claude Juncker.

Veteran director Kundan Shah, best known for the dark comedy Jaane Bhi Do Yaaro, passed away at the age of 69. He was one of the 24 directors who returned their National Awards in 2015 in support of protesting FTII students and against the growing environment of intolerance in the country.

Bangalore Metro Rail Project Phase II has received Rs. 3,800 crore from European Investment Bank. The project will be jointly financed by European Investment Bank and Asian Infrastructure Investment Bank, which will give over Rs. 3,800 crore (EUR 500 million) and Rs. 2,300 crore (EUR 300 million) respectively.

Prime Minister Narendra Modi inaugurate development projects worth ₹5,925 crore during his two-day visit to poll-bound Gujarat. He laid the foundation for construction of Rs 962 crore Cable Stayed Signature Bridge between Beyt Dwarka and Okha on NH-51, Gujarat. He lay the foundation stone for a greenfield airport located near Rajkot and inaugurate a fully automatic milk processing and packaging plant in Surendranagar. He will also lay the foundation stone for widening of Ahmedabad-Rajkot section of NH-47 to six lanes.

U.S. State Department has approved the possible sale of a THAAD (Terminal High Altitude Area Defense) anti-missile defence system to Saudi Arabia at an estimated cost of $15 billion (Rs. 98,000 crore). The deal includes 44 THAAD launchers and 360 missiles along with fire control stations and radars.

Prime Minister Narendra Modi announced the setting up of India's first marine police training institute at Gujarat's Devbhumi Dwarka district. This announcement was given at the foundation stone-laying ceremony of a bridge between Okha and Beyt Dwarka, during PM Narendra Modi's two day visit to Gujarat.

The Indian Air Force (IAF) on October 8, 2017 celebrated its 85th anniversary at the Hindon Air Force Station in Ghaziabad with a parade and an air show by various aircraft. The IAF was established in 1932 with a strength of six RAF-trained officers and 19 air soldiers. IAF's mission is to secure Indian airspace and to conduct aerial warfare during armed conflict.

Former Reserve Bank of India (RBI) Governor Raghuram Rajan’s name figures in this year’s list of possible winners of Nobel Prize in economics brought out by Clarivate Analytics. In its list of probable Nobel Prize in Economics winners 2017, Clarivate Analytics has named six contenders - Colin F Camerer, George F. Loewenstein, Robert E. Hall, Michael C. Jensen, Stewart C. Myers, and, of course, Raghuram G. Rajan Rajan is currently the Katherine Dusak Miller Distinguished Service Professor of Finance at the Booth School of Business, University of Chicago.

India’s  third largest private sector bank - Axis Bank acquired payments wallet Freecharge for Rs 373 crore in an all-cash deal. Sangram Singh has been appointed as the CEO of Freecharge Payment Technologies Private Ltd.

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    Topics covered in the 8th October 2017 Current Affairs are
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  • Obituary,
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  • Schemes,
  • Appointments,
  • Important Days & its Theme for Current as well as upcoming Year,
  • Books & Its Authors,
  • Agreements & MoUs,
  • Budget, Taxes,
  • Various Important Lists & Indexes,
  • Visits by World Presidents, Prime Ministers,
  • Political affairs and all Current News.

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