Current Affairs& GK for Banking/SSC Exams- 6th October 2016

Dear Readers, we are presenting Daily Current Affairs for All Exams- 6th October 2016.

 Daily Current Affairs
Current Affairs& GK for Banking/SSC Exams
1. GSAT-18 successfully launched on board Ariane-5 from Kourou
1. India’s latest communication satellite GSAT-18 was today successfully launched by a heavy duty rocket of Arianespace from the spaceport of Kourou in French Guiana.
2. The launch was originally scheduled for yesterday, but deferred by 24 hours owing to unfavourable weather conditions at Kourou, a French territory located in northeastern coast of South America.
3. GSAT-18, built by the Indian Space Research Organisation (ISRO), aims at providing telecommunications services for the country by strengthening ISRO’s current fleet of 14 operational telecommunication satellites.

2. CCEA approves acquisition of 11% stake in JSC Vankorneft by ONGC Videsh
1. The Cabinet Committee on Economic Affairs (CCEA) on 5 October 2016 gave its approval to an acquisition by ONGC Videsh Ltd (OVL) for 11% stake in JSC Vankorneft from Rosneft Oil Company (Rosneft), Russia’s national oil company.
2. The OVL will pay 930 million US dollar for acquiring 11 per cent in Vankorneft.The acquisition is in line with ONGC’s stated objective of adding high quality international assets to India's exploration and production portfolio.
3. Earlier in May 2016, OVL completed the formalities for acquisition of 15% stake in Vankorneft at a cost of 1.284 billion US dollar, which gave OVL 4.11 MMTOE.

3. Union Finance Ministry sets up Public Debt Management Cell
1. Union Finance Ministry constituted a Public Debt Management Cell (PDMC). The cell was created to streamline government borrowings and better cash management with the overall objective of deepening bond markets.
2. The Joint Secretary (Budget), Department of Economic Affairs, Ministry of Finance would be the overall in-charge of the ODMC.
3. As an interim arrangement, the PDMC will be housed at the RBI's Delhi office. In about two years, the PDMC will be upgraded to a statutory Public Debt Management Agency (PDMA).

4. Gaganjeet Bhullar wins 2016 Shinhan Donghae Open
1. India’s Ganganjeet Bhullar on 2 October 2016 won the 2016 Shinhan Donghae Open in South Korea. It is his sixth title on the Asian Tour.
2. Bhullar carded a final round four-under-par 67 for a tournament total of 15-under 269 at the Bear’s Best Cheongna Golf Club in Incheon.
3. Scott Vincent of Zimbabwe and South Korea’s Kim Tae-woo finished a stroke behind.The Shinhan Donghae Open is a men's professional golf tournament that has been held annually in South Korea since 1981.

5. Nitin Gadkari launches Indian Bridge Management System
1. To make sure that the bridges across India remains safe, the Union Minister of Road Transport and Highways and Shipping Nitin Gadkari on 4 October 2016 launched the Indian Bridge Management System (IBMS) in New Delhi.
2. IBMS is being developed to create an inventory of all bridges in the country and rate their structural condition so that timely repair and rehabilitation work can be carried out based on the criticality of the structure.
Major Highlights of Indian Bridge Management System (IBMS)
• IBMS is the largest platform in the world owned by a single owner, with database that could exceed one lakh fifty thousand bridge structures.
• So far one lakh and fifteen thousand bridges have been intventorized, of which eighty five thousands are culverts and the rest are bridges.
• At the time of creation, each bridge was assigned with a unique identification number or National Identity Number based on the state, RTO zone and whether it is situated on a National Highway, State Highway or is a district road.

6. Union Cabinet approves setting up of India's first Medipark in Tamil Nadu
1. The Union Cabinet on 5 October 2016 approved setting up of a Medical Devices Manufacturing Park (Medipark) at Chengalpattu, Kanchipuram District, Tamil Nadu through a special purpose Vehicle.
2. For this purpose, HLL Lifecare Ltd, a Mini Ratna PSU under Union Ministry of Health & Family Welfare, will sub-lease 330.10 acres of land at Chengalpattu. The shareholding of HLL in the project will be above 50 percent.
Highlights of the Medipark
• The Medipark project will boost the local manufacturing of hi-end products at a significantly lower cost, resulting in affordable healthcare delivery to a large section of people.
• It will contribute to the development of medical devices and technology sector and allied disciplines in the country.

7. Sushil Chandra appointed as Chairman of CBDT
1. The Union Government has appointed senior Indian Revenue Service (IRS) officer Sushil Chandra as the Chairman of the Central Board of Direct Taxes (CBDT). Decision in this regard was taken by the Appointments Committee of the Cabinet (ACC) chaired by Prime Minister Narendra Modi in New Delhi. Sushil Chandra is IRS officer of 1980 batch.
2. Prior to this appointment he was serving as member of CBDT. He will succeed Rani Singh Nair, who will retire on October 31, 2016.

8. Former ISRO Chariman UR Rao becomes first Indian to be inducted into IAF Hall of Fame
1. Former ISRO Chairman and space scientist Prof Udupi Ramachandra Rao became the first Indian to be inducted in the Hall of Fame of International Astronautical Federation (IAF). 
2. He was inducted during the closing ceremony of the 67th IAF Congress 2016 held at Guadalajara, Mexico for his outstanding contribution to the progress of astronautics.

9. J&K Bank appoints Parvez Ahmed as Chairman & CEO
1. Jammu and Kashmir Bank today appointed Parvez Ahmed as Chairman and CEO of the bank.
2. He has been appointed Chairman for a period of three years, Jammu and Kashmir Bank
3. He replaces Mustaq Ahmad, who completed his term on October 5.

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