Current Affairs Oct 10, 2015

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01. Banks cannot get relief to inflated road project cost: Even though, banks have granted excess finance to inflated road projects throughout the country, the Finance Ministry has said that the government would not recognize such inflated loans, which could form a major chunk of NPAs in the years to come.

02. IMF expects India to boost reforms: With prediction of a marginal fall in the growth rate in India, IMF has advised India to launch the next phase of reforms and improve the business climate in the country. In India, the ongoing economic recovery is underpinned by robust domestic demand.

03. Maharashtra to impose tax to tackle drought: Maharashtra Government will be levying additional tax by way of surcharge on petrol/ diesel, additional VAT on liquor, cigarettes and beverages, in order to raise more revenue to tackle the drought situation in the state.

04. Renowned Flautist Ramani passes away : N.Ramani, the legendary flautist passed away in Chennai. He is accredited with introducing the long flute, producing the bass sound, instead of high pitch sound. He is the recipient of Sangeetha Kalanidhi Title.

05. Joint Declaration by BRICS Nation for disciplined migration: BRICS nation issued a joint declaration under which orderly and legal migration among member nations will be ensured.

06. NHB okays 6 entities to become housing finance companies: These six companies are Supreme Housing Finance, Nivara Home Finance, Khush Housing Finance Private, Bajaj Housing Finance Capri, Global Housing Finance Pvt Ltd and Hinduja Housing Finance Ltd,

07. New Head for Atomic Energy Commission: Shekar Basu has been appointed as Chairman of AEC. He will also occupy the place of Director, Atomic Energy. Presently he is the Director of Bhabha Atomic Research Centre, Mumbai.

08. Now, railway platform tickets and unreserved tickets can be booked from home: Railways has facilitated booking of platform tickets and unreserved tickets from home, without having to wait in the serpentine queues at the stations.

09. Rate hike imminent says NY Fed Chief: New York Federal Reserve Chief has said that Fed Rate hike is very likely to happen this year, but US economists predict that the rate hike will be delayed until 2016.

10. Mobile app to catch highway traffic regulators: National Highway Authority of India (NHAI) will soon introduce a mobile app to catch traffic violators on highway. Common people can download this app and lodge complaints on various traffic violations made by drivers, including rash driving.