Current Affairs Update 27th October, 2015


India–Africa Summit: Terrorism, UNSC reform on Modi’s agenda

  • Over 40 African heads of state and government in attendance, Indo african summit
  • The summit starts on Monday with a senior officials’ meeting, foreign ministers meet the next day.
  • The main summit will take place on Thursday. Leaders will start touching down on Wednesday and have bilateral meetings with Modi the same day before going into the main summit on October 29. The main summit will comprise a plenary session and declarations.
  • Modi said Friday that India and Africa must speak in one voice on UNSC reforms. Egypt is a key member of the Uniting for Consensus group which blocks UNSC expansion.

RBI rejects plan for 100% FDI in banks

  • The Reserve Bank of India (RBI) has turned rbidown a proposal from the government to allow up to 100% foreign direct investment (FDI) in banks, a move that may come as a damper for several private sector lenders such as ICICI Bank and HDFC Bank.
  • In the past the regulator has seen banking as a sensitive sector and opposed allowing significant shareholding by foreign institutional investors, who are seen as short-term investors and can enter or exit a stock for short durations, largely to book profits.

RBI issues gold monetization scheme guidelines for banks

  • The Reserve Bank of India (RBI) on Thursday issued directions for banks on implementation of thgold monetisation
    e gold scheme approved by the government last month with the objective of monetizing India’s massive private holdings of the precious metal.
  • Interest and principal payments on gold deposits under the scheme will be denominated in gold, RBI said. Banks can use the stock of gold they collect as part of their statutory liquidity ratio (SLR) requirement, under which they have to make 21.5% of their investments in government bonds.

RBI, Bangladesh Bank ink Pact on Information EBangladeshxchange

  • The Reserve Bank of India (RBI) has signed a memorandum of understanding (MoU) with Bangladesh Bank for exchange of supervisory information.
  • The RBI has entered into memorandam of understanding, letter for supervisory co-operation and statement of co-operation with supervisors of a few countries to promote greater cooperation and share supervisory information.
  • With this, the RBI has signed 30 such MoUs, one letter for supervisory cooperation and one statement of cooperation, the central bank said in the release.

Underworld gangster Chhota Rajan arrested by Indonesian police in Bali

  • Underworld don Rajendra Sadashiv Nikhalje alias Chhota Rajan, a former aide of fugitive don Dawood Ibrahim, has been arrested by the Indonesian police in the tourist resort of Bali, Central Bureau of Investigation officials said on Monday.Chhota-rajan-240x180_1
  • Rajan, 56, who had survived two attacks on his life, was shuttling between Australia and Indonesia when Australian authorities alerted the Interpol.
  • According to the CBI, Rajan, who also goes by the name of Mohan Kumar, came under the radar of the Australian authorities at the time of his visa renewal.
  • On Sunday, he flew from Australia to Bali. Home minister Rajnath Singh termed Rajan’s arrest a “major success” for the Indian government.

Modi govt to make refund of service tax for IT firms like Infosys, TCS, Wipro easier

  • Infosys, WiproBSE and a host of top-tier IT and ITeS services providers could soon be ableService_Tax_356x200_5828_356 to get their service tax refunds without any upfront scrutiny as the government looks to streamline and speed up the refund mechanism.
  • This is part of the Narendra Modi-led government’s initiative to make it easy to do business in the country.
  • This scheme will cover companies that have a credible tax-paying compliance record and will enable these firms to get service tax  refunds as and when they claim them without having to go through the time-consuming and cumbersome process of first getting these claims scrutinised and audited.


  • Kamal Haasan appointed trustee of Nadigar Sangam (union for film, television, and theatre actors in the state of Tamil Nadu, based in Chennai, India)
  • Anirudhha Kumar appointed director of SJVNLAppointed
  • Jawaharlal Nehru Technological University, Anantapur, Sri Padmavathi Mahila Visvavidyalayam, Tirupati and Dravidian University, Kuppam have got their new Vice-Chancellors.
  • Governor E.S.L. Narasimhan has appointed Dr. Mohammed Moulana Mohiuddin Sarcar, a retired professor of mechanical engineering department of Andhra University College of Engineering as the Vice-Chancellor of the JNTU, Anantapur for three years from the date of his appointment.
  • Similarly, Dr. Durga Bhavani Veeramachaneni, Professor, Department of Communication and Journalism, Sri Padmavathi Mahila Visvavidyalayam in Tirupati has been elevated as the Vice-Chancellor of the varsity.
  • Dr. E. Sathyanarayana, Professor of Statistics (retired), Sri Venkateswara University, Tirupati has been made the Vice-Chancellor of Dravidian University, Kuppam.
  • Nodal Officer Appointed for Local Body Polls: K Mohammed Y Safarulla has been appointed the nodal officer of the project to make results of the local body polls available online.


  • Committee to look into CM Devendra Fadnavis quota flat allotment gets third extension a year after it was constituted. The committee, comprising retired Bombay High Court Justice JA Patil,
  • ‘Committee set up to prepare alternative crop plan for DK’: Karnataka Agriculture Price Commission Chairman Dr T N Prakash Kammaradi said that the State government has issued an order constituting a t
    echnical committee to look into the possibility of forming a separate Arecanut Board at the national-level on the lines of Rubber and Spices Board.
  • Govt denotifies Lapang committee
  • HRD Ministry Appoints Review Committee To Look Into Non-NET, NET Fellowships


  • AR Rahman receives Hridaynath Mangeshkar AwardAwards
  • EC to confer awards to media for creating electoral awareness
  • President gives away Sangeet Natak Akademi awards, fellowships:
    • While leading musicologist S R Janakiraman, theatre doyen and noted filmmaker M S Sathyu,
    • and musicians Vijay Kumar Kichlu and Tulsidas Vasant Borkar were awarded fellowships of the Sangeet Natak Akademi,
    • 35 eminent personalities were honoured with Akademi Awards in the categories of music, dance, theatre, traditional folk/tribal music/dance/theatre and puppetry and overall contribution/scholarship in the performing arts.
  • Dr MN Nandakumara and Sivasakthi Sivanesan honoured with National Indian Arts Awards 2015
    • Pushkala Gopal won Nritya Acharya Award
    • Jasdeep Singh Degun won Tarang Musician of the Year
    • Sanjuran Keerthikumar won Samyo Musician of the Year
    • Yarline Thanabalasingham won Young Musician of the Year
    • Parbati Chaudhury won Young Dancer of the Year
  • summy

    Thank you so much sharing current affairs.

    • Vaibhav

      Your welcome summy

  • bubu



    very good and amazing knoledge

    • Vaibhav

      Keep reading Anish. We are glad you found it useful.