Current Affairs Daily Digest – October 10′ 2017


  1. Amul named best FMCG co by IAA

India’s largest food products marketing organisation, Gujarat Cooperative Milk Marketing Federation Ltd (GCMMF), which markets the Amul brand of milk and milk products, has been recognised as the country’s best Fast Moving Consumer Goods (FMCG) company in the food sector by the International Advertising Association (IAA).

Amul was presented the Fifth IAA Leadership Award for this recognition at Mumbai. The prestigious awards instituted by the IAA’s India Chapter recognise excellence towards contribution in marketing, advertising and media sectors as well as celebrate outstanding achievements of individuals and teams.

  1. Matam Venkata Rao takes charge as ED, Canara Bank

Matam Venkata Rao took charge as Executive Director of Canara Bank. Rao had previously worked as General Manager of Allahabad Bank. He had headed the bank’s verticals, including corporate credit, debt restructuring and retail banking.

He was instrumental in launching a transformative project in Allahabad Bank to put the focus on asset-centric banking. He is a Certified Associate of the Indian Institute of Bankers.

  1. Facebook India MD Umang Bedi steps down, Sandeep Bhushan to be interim MD

Facebook India managing director Umang Bedi has stepped down from his position. Sandeep Bhushan has been named the interim managing director, as per Facebook.

Bedi was appointed as the managing director in mid-2016, taking over the India business from Kirthiga Reddy who moved to the company’s headquarters in Menlo Park, the US.

  1. Rajnath Singh inaugurates the First BIMSTEC Disaster Management Exercise

The Union Home Minister Shri Rajnath Singh inaugurated the four-day first Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation Disaster Management Exercise (BIMSTEC DMEx-2017)

The Exercise is being conducted by the National Disaster Response Force (NDRF) as the lead agency from October 10-13, 2017 in Delhi and the National Capital Region (NCR). At the 17th BIMSTEC Senior Officials Meeting held in Kathmandu, Nepal on February 7, 2017, it was decided that India would organize the first annual Disaster Management Exercise for the region.

  1. President of India inaugurates India water Week-2017

The President of India Ram Nath Kovind, inaugurated India Water Week-2017(October 10, 2017) in New Delhi. It is fundamental to the economy and to ecology – and to human equity.

The issue of water is becoming still more critical in view of climate change and related environmental concerns.

Better and more efficient use of water is a challenge for Indian agriculture and industry alike. It requires us to set new benchmarks in both our villages and in the cities we build.

  1. India Slips to 8th Rank in Valuable Nation Brand List

India is ranked the eighth most valuable nation brand while the United States retained its top position and China took the second spot in the League of Nations according to Brand Finance’s Nation Brands 2017.

India went down one spot over the previous year, the report said, because the economy grew at its slowest pace. India switched places with Canada and its brand value dropped by one percentage point while that of Canada’s rose 14 per cent.

  1. IIT Kharagpur Signs MoU with Samsung for Digital Academy

IIT-Kharagpur has signed a Memorandum of Understanding (MoU) with Samsung India for the setting up of a digital academy on the institute’s campus.

The Department of Computer Science and Engineering in the institute will host the Samsung Innovation Lab and train students on the Internet of Things (IoT) through Tizen-based operating systems, commonly used by the company for its mobile phones and home appliances.

  1. IIT researchers develop tool to synthesise new molecules

Indian Institutes of Technology in Delhi and Madras have developed a machine learning tool that can fish out new ways of synthesising novel molecules.

The algorithm that Raman and IIT Delhi computer scientist Sayan Ranu created does this by mining the repertoire of biochemical reactions available in public databases maintained by research groups across the world.

The scientists who recently reported their work in the journal Bioinformatics, have aptly named the software tool Reaction Miner. Aravind Sankar, a dual degree student in IIT Madras’ Computer Science Department, also contributed to the work.

  1. IMF lowers India’s growth forecast over demonetisation, GST

India’s economic growth for 2017 and 2018 will be slower than earlier projections, the International Monetary Fund (IMF) said in its latest World Economic Outlook released on October 10.

The report cited “lingering impact” of demonetisation and the Goods and Services Tax for the expected slow down during the current and the next year.

The IMF projected India to grow at 6.7% in 2017 and 7.4% in 2018, which are 0.5 and 0.3 percentage points less than the projections earlier this year, respectively.

  1. MasterCard launches India innovation centre

MasterCard has announced the launch of its innovation centre to focus on solving “India-specific” problems in the areas of technology and financial enablement. This would be their second innovation centre, after Singapore, in Asia and ninth globally.

Labs are the future-proofing arm of MasterCard to generate sustainable innovation. The labs are like a sandbox within the organisation to try out new technology that is consumer-oriented and can be built and deployed to market.

  1. October 10, 2017: World Mental Health Day

The World Health Organisation recognises World Mental Health Day on 10 October every year. The day provides an opportunity “for all stakeholders working on mental health issues to talk about their work, and what more needs to be done to make mental health care a reality for people worldwide”. This year’s theme set by the World Federation for Mental Health is mental health in the workplace.

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Read Current Affairs Daily Digest For September 2017