Current Affairs 1st Nov 2018

National News

1. Malayalam Film Olu To Be Opening Film At 49th IFFI 

i. Malayalam film Olu will be the opening film at the 49th International Film Festival of India, IFFI 2018. This was decided by the jury for the Indian Panorama. The IFFI will be held in Goa in November 2018.
ii. The Feature Film Jury of thirteen members was headed by acclaimed film director and screenwriter, Rahul Rawail. The Non-Feature film Jury selected the Marathi film Kharvas directed by Aditya Suhas Jambhale as the Opening non-feature film. 

2. Cabinet Approves Renaming Of Jharsuguda Airport, Odisha As “Veer Surendra Sai Airport, Jharsuguda”

i. The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the renaming of Jharsuguda Airport, Odisha as “Veer Surendra Sai Airport, Jharsuguda”. Veer Surendra Sai is a well-known freedom fighter of Odisha. 

ii. Renaming of the Jharsuguda airport in his name will fulfill the long-pending demand of the Odisha Government, which reflects the sentiments of the local public of the respective area. It will also be a befitting tribute to the contribution of the revered personality associated with the State.

3. India Signs $950 Million Contract With Russia To Buy Two Stealth Frigates

i. India has signed a $950 million contract with Russia for two upgraded Krivak III-class stealth frigates. A government-to-government contract was signed between India and United Shipbuilding Corporation of Russia last week for the supply of two stealth frigates.

ii. The 4,000-ton Krivak III vessels will also accommodate two multirole helicopters and will be used for anti-submarine and airborne early warning missions.

4. 'Soura Jalanidhi' Scheme Launched In Odisha

i. Odisha Chief Minister Naveen Patnaik launched the Soura Jalanidhi scheme that aims to increase use of solar energy for helping farmers in irrigating their land.

ii. 'Soura Jalanidhi', is a dug well based solar pump irrigation system in convergence mode. Under the scheme, 5,000 solar pumps will be given to Odisha farmers at a subsidy of 90% to irrigate 2,500 acres of land. 

5. Important Cabinet Approvals: 1st November 2018

i. The Union Cabinet chaired by Prime Minister Narendra Modi has given the following set of approvals. The important Cabinet Approvals are given as follows-

ii. The Cabinet has approved- 
1. Agreement between India and Morocco on Mutual Legal Assistance in Criminal Matters
2. MoU between India and Korea for strengthening cooperation in the field of Tourism

Find The Complete Approvals Here

Business/Economy News

6. Ease of Doing Business Index 2019: India Ranks 77th, New Zealand Tops 

i. India jumped 23 positions in the World Bank's Ease of Doing Business Index 2019 and is now ranked 77 out of 190 countries in 2018, a development that could help the country attract more foreign investments. 

ii. According to the Doing Business Report (DBR, 2019), New Zealand topped the list, followed by Singapore, Denmark, and Hong Kong. India has become the top-ranked country in South Asia for the first time and third among the BRICS. 

Static/Current Takeaways Important For IBPS PO Mains Exam 2018: 

·         The President of the World Bank is Jim Yong Kim.

·         The World Bank Headquarters in Washington, D.C., United States.

7. NIIF Acquires IDFC Infrastructure Finance 

i. The National Investment and Infrastructure Fund (NIIF) has acquired IDFC Infrastructure Finance (IDFC-IFL), an infrastructure debt fund. This acquisition is the first investment from NIIF’s strategic fund. The acquisition is subject to approval from RBI.
ii. IDFs are investment vehicles for channelling investment into India's infrastructure sector. 

8. 6th Tranche Of Electoral Bonds Sale Kicked Off 

i. The finance ministry has announced that the sixth tranche of electoral bonds sale has been started and will continue for 10 days. Electoral bonds are being pitched as an alternative to cash donations made to political parties as part of efforts to bring transparency in political funding. 

ii. State Bank of India (SBI), in the sixth phase of sale, has been authorised to issue and encash electoral bonds through its 29 authorised branches.

Static/Current Takeaways Important For IBPS PO Mains Exam 2018: 

·         As per provisions of the scheme, electoral bonds may be purchased by a person, who is a citizen of India or entities incorporated or established in India. SBI is the only authorised bank to issue such bonds. 

Appointments

9. RBI Clears Re-Appointment of Aditya Puri as HDFC Bank CEO 

i. HDFC Bank had announced that the RBI had approved the re-appointment of Aditya Puri as MD and CEO of the bank for another two years. Aditya Puri will now serve the office from November 1, 2018 to October 26, 2020.
ii. Puri has been with HDFC Bank since 1994, making him the longest-serving head of any private bank in the country. 

Static/Current Takeaways Important For IBPS PO Mains Exam 2018: 

·         HDFC Bank Headquarters in Mumbai. 

Sports News

10. Tata Steel Named Official Partner of FIH Men's Hockey World Cup 2018 

i. Steel manufacturing giant Tata Steel was announced as an official partner of the men's hockey World Cup 2018 to be staged at the Kalinga Stadium, Bhubaneswar from November 28 to December 16.

ii. Tata Steel, the 10th-largest steel producer in the world, signed the agreement with the quadrennial event to continue their efforts of promoting development through sports across the country. 

11. Pankaj Advani Became First Indian To Win Asian Snooker Tour Title

Pankaj Advani

i. Nineteen-time world champion Pankaj Advani has won the second leg of the Asian Snooker Tour in Jinan, China.
ii. Advani delivered a power-packed performance to outclass China’s Ju Reti 6-1 in the final and become the first Indian to win an Asian Snooker Tour event.

Obituaries

12. African American Playwright Ntozake Shange Passes Away 

i. Playwright, poet and author Ntozake Shange, whose most acclaimed theatre piece is the 1975 Tony Award-nominated play “For Colored Girls Who Have Considered Suicide/When the Rainbow is Enuf,” had passed away. She was 70.