Daily Current Affairs: 4th January 2018

Dear SH Aspirants,
Study Daily Current Affairs and stay updated as well as prepare for General Awareness section of bank exams. It's time to gear up your preparations for IBPS/RBI/SBI/SSC and with the daily dose of current affairs, you can easily prepare G.A and score well.

1. India Cancels $500 Million Deal For Israeli Anti-Tank Missiles

India has cancelled a $ 500 million deal to buy 1,600 Spike anti-tank guided missiles from Israel, the state-owned defense contractor Rafael Advanced Defense Systems announced.

• Spike is a man-portable “fire and forget' missile that can hit moving targets such as a tank.
• India had opted for the Israel's Spike over the Javelin missiles offered by Washington in 2014.

2. Indian Railways to install GPS devices on 2,700 electric locomotives

In a bid to provide real time train information, the government plans to install GPS devices on over 2,700 electric locomotives by December 2018, Parliament was told.

• “Railway Ministry in collaboration with Indian Space Research Organisation (ISRO) is implementing Real-Time Train Information System (RTIS) which involves tracking of train by placing GPS/GAGAN (GPS Aided Geo Augmented Navigation System) based devices on locomotives,” Minister of State for Railways Rajen Gohain told the Lok Sabha in a written reply.
• “In Phase one, the RTIS project will cover about 2,700 electric locomotives in which the GPS device will be installed.
• This phase is planned to be completed by December 2018,” he said.

3. Government approves Rs 6,809-crore Zojila Pass tunnel project in J&K  

The Union Cabinet has approved the construction of Asia's longest bi-directional Zojila Pass tunnel at an estimated cost of Rs 6,089 crore, which will reduce the travel time between Srinagar and Leh to 15 minutes from the current 3.5 hours.

• The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, gave its go-ahead to the 14.2-km long tunnel project in Jammu and Kashmir to provide all-weather connectivity between Srinagar, Kargil and Leh, which remains cut-off from the rest of India during winters due to heavy snowfall.

4. Cabinet approves MoU between India and ‘Transport for London’

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the signing and implementation of the Memorandum of Understanding (MoU) between Ministry of Road Transport & Highways and ‘Transport for London’, a statutory body established under the Greater London Authority Act, 1999 (UK) to improve Public Transport in India.

• The MoU will help to improve the overall public transport system in the country, improve passenger services and promote the use of high capacity buses in India.
• It will go a long way in strengthening ties and promoting bilateral relations between India and United Kingdom.

5. Cabinet approves setting up of new AIIMS in Bilaspur

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval for establishment of new AIIMS in Bilaspur (Himachal Pradesh) under the Pradhan Mantri Swasthya Suraksha Yojana (PMSSY).

• The cost of the project is Rs.1351 crore.
• Under this scheme, AIIMS have been established in Bhubaneshwar, Bhopal, Raipur, Jodhpur, Rishikesh and Patna while work of AIIMS Rae Bareli is in progress.

6. Setting up of National Security Commission

In pursuance of directions given by the Hon’ble Supreme Court for setting up a National Security Commission, a Committee namely “Committee on National Security and Central Police Personnel Welfare (CNS & CPPW)” has been constituted for recommending the names of IPS officers to the Appointments Committee of the Cabinet for appointment at the level of Director General at the centre on 2nd January, 2017. 

The composition of the Committee is as under:-

• Union Home Minister- Chairman
• National Security Adviser- Member
• Cabinet Secretary- Member
• Union Home Secretary- Member
• Director, Intelligence Bureau- Member

7. RBI puts Allahabad Bank under prompt corrective action

Public sector Allahabad Bank said the Reserve Bank has put the lender under prompt corrective action framework post an on-site inspection of high NPAs and negative return of assets for fiscal 2016-17.

• The RBI inspection has revealed high net NPAs (non performing assets) and negative ROA (return on assets) for two consecutive years, it said further.
• For the fiscal 2016-17, the bank had trimmed its net losses to Rs 313.51 crore against Rs 743.31 crore in 2015-16.

8. Nabard, SBI sign MoU with NGOs for financing of JLGs in Bengal

The National Bank for Agriculture and Rural Development (Nabard) and State Bank of India (SBI) have jointly signed an MoU with non-government organisations (NGOs) from West Bengal for financing of 2,500 Joint Liability Groups (JLGs), or informal credit group of farmers.

• The agreement was with five NGOs for promotion of JLGs in Purulia, Paschim Medinipur, Purba Medinipur, Burdwan and North 24 Parganas districts of the state.
• SBI's Chief General Manager, Kolkata circle, Partha Pratim Sengupta said JLGs are basically are credit groups of small and marginal farmers who do not have proper title to their farmland.

9. AB Mathur appointed government interlocutor for talks with ULFA

The Central Government announced the appointment of AB Mathur as the interlocutor on their behalf to hold talks with the United Liberation Front of Assam (ULFA).

• A 1975-batch IPS officer, Mathur served as the former Special Secretary of Research and Analysis Wing (RAW), following his appointment on December 10, 2009.
• The ULFA is a separatist outfit operating in Assam for the indigenous Assamese and seeks to establish a sovereign Assam with an armed struggle in the Assam conflict.
• In 1990, the government of India banned the organisation, citing it as a terrorist organisation.

10. JNPT wins ‘Samudra Manthan – Caring Organisation of the Year’ award

The Jawaharlal Nehru Port Trust, India’s Premier Container Port, has won the ‘Samudra Manthan – Caring Organisation of the Year’ award.

• The award was instituted by Bhandarkar Shipping, which is a leading publication in the maritime industry.
• JNPT is India’s top container port in terms of volume and efficiency parameters.