Current Affairs Oct 16, 2015

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01. DRDO missile complex in Hyderabad named after Dr.Abdul Kalam: The prestigious DRDO missile complex in Hyderabad was renamed as Dr.Abdul Kalam missile complex. Dr.Abdul Kalam had worked in this complex for nearly two decades and also had been its director for a short period.

02. Supreme Court strikes down NJAC: In a major judgment, Supreme Court has struck down as “unconstitutional” the National Judicial Appointments Commission (NJAC) and passed orders to stick with the age old collegiums system to make top level judicial appointments in the country.

03. TRAI tightens screws on Telecom companies: Telecom Regulatory Authority of India (TRAI) has made it mandatory for telecom companies to compensate the consumers for dropped calls at the rate of Re.1/= per call. This will come into effect from January 01st 2016.

04. Personal loans through ATMs: HDFC bank which sanctions personal loans through its online portal has gone a step further and planning to sanction loans through its 11000+ ATMs located throughout the country. Already 12% of the retail loans of HDFC bank are being sanctioned through its portal.

05. 16th October is ‘World Food Day’: The theme of the World Food Day which was observed on October 16th is ‘Social Protection and Agriculture’. On this day, awareness is created about challenges of hunger and encourage people to fight against hunger.

06. Malaysia to invest in India: The Construction Industry Development Board of Malaysia has planned to invest around US $ 30 billion in the areas of housing projects and urban development in India. The projects are being carried out in New Delhi city, adjoining the railway station and Garhmuktheswarar in Uttar Pradesh.

07. Rameshwaram comes under AMRUT: The birth place of late President Dr.Abdul Kalam, Rameshwaram has been included as the 498th city under Atal Mission for Rejuvenation and Urban Transformation (AMRUT). Including Rameshwaram, Tamil Nadu would have 32 cities under AMRUT.

08. RBI forms financial inclusion corpus: By merging two existing funds, RBI has formed a single Financial Inclusion Fund with an initial corpus of 2000 crores. The fund will aim at supporting activities relating to development and promotion of financial inclusion in the country in a big way.

09. Railways to purchase power from Adani: Railways will purchase power from Adani group at Rs.3.69 per unit. Adani will supply 50 MW of power to the Railways under the new scheme of competitive bidding-based procurement.

10. E-surveillance outside ATMs: A few banks have started removing the security guards placed in front of the ATMs and have opted for e-surveillance for them. Axis Bank has taken the lead in this project followed by SBI and HDFC. With e-surveillance coming into place, nearly two lakhs security guards posted outside the ATMs throughout the country, are set to lose their jobs over the next couple of years.