Current Affairs of 3 Nov

OMCs and CSCs Signed MoU - In a move to push the distribution of LPG connections in rural areas, oil marketing companies (OMCs) Bharat Petroleum, India Oil and Hindustan Petroleum authorised through three lakh Common Service Centres (CSCs) across the country Common Service Centres to book and distribute gas cylinders. These OMCs and common service centres signed a memorandum of understanding (MoU) to facilitate LPG services through three lakh Common Service Centres (CSCs) across the country.

Largest Transaction through Rupay - RuPay India’s own homegrown card network RuPay has become the biggest market player with over 459 million transactions constituting more than half of total transactions being made in India. Rupay became the largest payment card network overtaking VISA in June last year when it touched the base of 375 million transactions.

M. Venkaiah Naidu
Vice President on African Tour - The Vice President of India, M. Venkaiah Naidu embarked on his first Africa visit. In his weeklong visit, he will visit Botswana, Zimbabwe and Malawi. On the 1st leg, Vice President will reach Botswana’s capital Gaborone to attend the Official opening of the 13th Annual Global Expo. On the 2nd leg he will visit Zimbabwe and on the last leg, he will visit Malawi. 

Vice President Visited Zimbabwe - India may soon start buying diamonds directly from Zimbabwe, as a Memorandum of Understanding was signed in the presence of Vice President M Venkaiah Naidu in Harare. The Zimbabwe trip is the second leg of Naidu’s three nation tour in Africa. India also promised more $350 million line of credit for three power and water projects to Zimbabwe, which is in addition to the loans of more than $100 million extended to the country.

Aditya Puri
Aditya Puri - HDFC Bank had announced that the RBI had approved the re-appointment of Aditya Puri as MD and CEO of the bank for another two years. Aditya Puri will now serve the office from November 1, 2018 to October 26, 2020.

Atul Kumar Goel
Atul Kumar Goel - Atul Kumar Goel assumed charge as Managing Director and CEO of UCO Bank. 

Dispute over Capital Requirement - Amid a raging controversy over capital levels of Indian banks with the government wanting lower capital requirement. The government wants the capital adequacy ratio of banks to be at 8% as per Basel norms, but RBI has prescribed 9%. On complaints over ‘unnecessary’ high capital requirements, RBI Deputy Governor Mr. Vishwanathan said prudential capital regulations aim to enable banks to sustain unexpected losses without defaulting on its obligations, especially deposits, by maintaining adequate levels of bank capital.

MC Mary Kom
Mary Kom - Olympic bronze medalist and five-time World Champion, MC Mary Kom has been named as the brand ambassador of the 10th edition of the Women's World Championship in New Delhi.

NIIF acquired IDFC Infrastructure Finance - National Investment and Infrastructure Fund (NIIF) has acquired IDFC Infrastructure Finance (IDFC-IFL), an infrastructure debt fund. This acquisition is the first investment from NIIF’s strategic fund. The acquisition is subject to approval from RBI.

Tata Steel - Steel manufacturing giant Tata Steel was announced as an official partner of the men's hockey World Cup 2018 to be staged at the Kalinga Stadium, Bhubaneswar from November 28 to December 16.

Dialogue of the NITI Aayog and DRC - The Fourth Dialogue of the NITI Aayog – Development Research Centre (DRC) of the State Council, Peoples’ Republic of China was held in Mumbai. The Chinese delegation was led by Mr. Li Wei, President of DRC and the Indian delegation was led by Dr Rajiv Kumar, Vice Chairman of NITI Aayog.

India-US Dialogue on Intellectual Property - The first ever India-US Dialogue on Intellectual Property has been launched in Delhi to deepen bilateral strategic cooperation on IP policy. The dialogue was launched by US Chamber of Commerce's Global Innovation Policy Center (GIPC) and FICCI in partnership with the US-India Business Council. It will be convened annually, alternating between New Delhi and Washington, DC. 

World Corporate Games - Qatar will host the 23rd edition of the World Corporate Games 2019. The Games will provide an opportunity for corporations around the world to showcase their competitive prowess through sports.

Azhar Ali
Azhar Ali - Senior Pakistan batsman Azhar Ali announced his retirement from limited overs cricket in order to concentrate fully on Test cricket.