Daily Current Affairs Updates– 3rd September 2015

    Daily Current Affairs – 3rd September 2015
    Daily Current Affairs Updates– 3rd September 2015:
    Daily Current affairs News Updates about the National and International events were listed here. Candidates those who are preparing for IBPS/SBI/PO/Clerk exam and all other competitive exams can use this.

    1).Union Government approved the reimbursement ofRs. 113 crores to incur losses onpulse import
    ·        The 4 governmental agencies which suffered losses by importing pulses are as follows
    a.   National Agricultural Cooperative Marketing Federation of India (NAFED)
    b.   Metals and Minerals Trading Corporation of India (MMTC)
    c.   State Trading Corporation of India (STC)
    d.   PEC
    ·        This decision of the government was taken as recommended byUnion Ministry of Food and Consumer Affairs
    ·        This reimbursement amount will help the government agencies to become financially sound and to intensify its trading activities to bridge thedemand-supply gap

    2).West-Central Railway (WCR) became the1st Railway zone in Indian Railways to eliminate allunmanned level crossings
    ·        This was done as a safety initiative of Indian Railways as the accidents that occurred due to unmanned railway crossings had killed126people in2014-15
    ·        Headquarters of WCR zone –Jabalpur, Madhya Pradesh
    ·        A total of118unmanned level crossings of WCR zone were eliminated out of which
    a.   80crossings were eliminated in2014-15
    b.   38crossings were eliminated inAugust 2015
    ·        This feat was achieved by constructing33 Limited Height Sub Ways(LHSW) and manning30 level crossings

    3).Union Finance Ministry announced the merger of commodities market regulatorForward Markets Commission(FMC) withSecurities Exchange Board of India (SEBI)
    ·        This will create a unified regulator for commodities and capital markets
    ·        3 national and6 regional commodity exchanges will come under the national capital market regulator SEBI with an effect from28thSeptember 2015
    ·        Regulation of commodity derivatives Market will shift to SEBI under theSecurities Contracts Regulation Act (SCRA) 1956
    ·        The union government repealed theForward Contract Regulation Act (FCRA) 1952thus dissolving the FMC

    4). India’sNational Stock Exchange (NSE) signed a MoU with theStock Exchange of Mauritius(SEM) to enable cooperation between the 2 exchanges
    ·        Aimof the MoU are as follows
    a.   To facilitate a strategic relationship between the 2 organizations
    b.   To develop channels for sharing knowledge mutually
    c.   To develop mutual synergies for growth and development
    ·        This MoU will enable cooperation between the two organizations in the followingareas
    a.   Education
    b.   Training& knowledge transfer in securities markets
    c.   Product development
    d.   Indices creation
    e.   Capacity development in surveillance and investigation
    ·        The following dignitaries were present when the MoU was signed
    a.   Prime Minister of Mauritius –Anerood Jugnauth
    b.   Minister of Financial Services –S. Bhadain

    5).ICICI Lombard General Insurance entered into a joint venture with theCatholic Syrian Bank(CSB)
    ·        This is abancassurance tie-up – the bank will act as a insurance agent
    ·        The ICICI Lombard General Insurance will offer its products through the431branches of the CSB
    ·        The bank’s 431 branches are distributed across15 states and4 union territories of India
    ·        CSB focuses onSmall and Medium Enterprises (SME) and retail segments apart from NRI customers

    6). South African city ofDurban to host the22nd Commonweath Games in 2022
    ·        TheCommonwealth Games Federation (CGF), the nodal agency of this multi-sports events announced this in itsGeneral Assembly held inNew Zealand
    ·        An African nation has been chosen as the host of the Commonwealth Games for the1st time
    ·        Durban was the lone bidder afterEdmonton(Cananda) withdrew
    ·        As per the announcement 22ndCommonwealth Games will be held from18thto 30th July 2022
    ·        The opening ceremony will be held on the birthday of the late South African President and Anti-apartheid leaderNelson Mandela
    ·        21stCommonweath Games2018Gold Coast, Australia
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