CURRENT AFFAIRS - SEPTEMBER 2018
DAY: 28 SEPTEMBER
NATIONAL AFFAIRS
News Title 01: Assam to introduce methanol as
cooking fuel
 Public sector Assam Petrochemicals Limited is set
to introduce (in a first in India) methanol as
cleaner, cheaper alternative to liquefied petroleum
gas.
 The pilot project involving 500 burners and stoves,
each fuelled by a 1.2-litre canister of methanol, will
be launched on October 5.
 The company hopes to go for commercial
production after almost two months of monitoring
the project at its headquarters in eastern Assam’s
Namrup town.
News Title 02: Centre cuts borrowing target by
₹72,000 cr.
 The government has decided to reduce its
borrowing requirement for the year by ₹72,000
crore and the borrowing target for the October to
March period has been set at ₹2.47 lakh crore.
 In H1, the borrowing programme was ₹ 2.88 lakh
crore. The reduction of ₹72,000 crore will be
managed by a mix of reducing buy-back as well as
additional flows from small savings schemes.
 The government will end this year’s borrowing
programme on March 8, with borrowings of
₹11,000 crore per week until the beginning of
November and then ₹12,000 crore per week until
March 8.
 Economic Affairs Secretary: Subhash Chandra
Garg.
News Title 03: Sabarimala temple open for women of
all ages, rules SC
 The Supreme Court paved the way for entry of
women of all ages into the Ayyappa temple at
Sabarimala in Kerala.
 The five-judge constitution bench headed by Chief
Justice Dipak Misra, in its 4:1 verdict, said that
To Download Free Bank Study Materials Visit: http://bankexamguru.com/
https://t.me/BankExamGuru
banning the entry of women into the shrine is
gender discrimination and the practice violates
rights of Hindu women.
 The CJI said religion is a way of life basically to link
life with divinity. While Justices R F Nariman and D
Y Chandrachud concurred with the CJI and Justice
A M Khanwilkar, Justice Indu Malhotra gave a
dissenting verdict.
 Justice Nariman said the Sabarimala temple
custom barring women of 10-50 age is not backed
by Article 25 and 26 of the Constitution.
 Custom of barring women is violative of Article 25
(Clause 1) and Rule 3(b) of Kerala Hindu Places of
Public Worship (authorisation of entry) Rules,
1965 is struck down by Justice Nariman.
 Justice Malhotra said equality doctrine cannot
override fundamental right to worship under
Article 25.
BANKING AND FINANCE
News Title 01: Digital insurance product from KBL
 Karnataka Bank, in association with Bajaj Allianz
General Insurance Co, has launched a QR
codebased two-wheeler insurance product.
 A paperless and instant two-wheeler insurance
policy can be issued in two minutes with this
digital initiative.
 Managing Director and CEO of KBL:
Mahabaleshwara MS.
News Title 02: RBI bars Bandhan Bank from opening
new branches
 The RBI pulled up Bandhan Bank for its failure to
bring down promoter holding to 40 per cent as
mandated in the licensing norms for universal
bank.
 The central bank has withdrawn permission to
open new branches and put a freeze on the
remuneration of the MD&CEO, CS Ghosh.
 The bank is taking necessary steps to comply with
the licensing condition to bring down the
shareholding of Non-Operative Financial Holding
or Join our Telegram Channel:
 CURRENT AFFAIRS - SEPTEMBER 2018
Company (NOFHC) in the bank to 40 per cent and
shall continue to engage with RBI in this behalf,
the bank said.
News Title 03: RBI draft warns of action for market
abuse
 The Reserve Bank of India (RBI) issued the draft
guidelines on prohibiting market abuse, which
propose to debar errant participants from
accessing the market.
 “Participants found guilty of market abuse may be
subject to regulatory action, including temporary
or permanent stoppage of access to the markets in
one or more instruments,” the draft guidelines
said.
 It has been proposed that the directions will apply
to all market participants for financial instruments
but shall not apply to transactions or other
activities being carried on in furtherance of public
policy objectives, the central bank said in a
statement.
 The directions, called the Reserve Bank of India
(Prohibition of Market Abuse) Directions 2018,
define what is market manipulation, benchmark
manipulation and misuse of information as well.
 Market participants shall not obtain, or attempt to
obtain, or share any unpublished price-sensitive
information, the central bank said, adding they
shall also not use price-sensitive customer
information for trading on own account or on
account of any other entity.
 They should not intentionally create or transmit
false or inaccurate information that influences
price.
BUSINESS & ECONOMY
News Title 01: States’ average GST revenue shortfall
down to 13% in FY19
 The average revenue shortfall of States due to the
Goods and Services Tax has fallen to 13% in the
ongoing financial year up to August 2018, from
To Download Free Bank Study Materials Visit: http://bankexamguru.com/
https://t.me/BankExamGuru
16% in 2017-18, Finance Minister Arun Jaitley said
after the 30th GST Council meeting.
 Mr. Jaitley said that the GST Council had agreed to
set up a seven-member Group of Ministers (GoM)
to look into the various aspects i.e) an additional
rate, including whether it should be levied only on
Kerala’s taxpayers, or on the entire country.
 Bihar Deputy Chief Minister Sushil Kumar Modi is
the Convenor of the GoM, whose members will
include Himanta Biswa Sarma, Finance Minister,
Assam; T.M. Thomas Isaac, Finance Minister,
Kerala; Sudhir Mungantiwar, Finance & Excise
Minister, Maharashtra; Sashi Bhusan Behera,
Finance & Excise Minister, Odisha; Manpreet Singh
Badal, Finance Minister, Punjab; and Prakash Pant,
Finance Minister, Uttarakhand.
 The GoM has to submit its report by October 31,
2018.
 “Article 279(A)(4)(f) of the GST Act has a
provision that, with the permission of the GST
Council, a special rate can be imposed to raise
additional resources during any natural disaster,”
Mr. Jaitley said at a press conference.
 Regarding the State-wise revenue position, the
Union Finance Minister said that there were only
10 States with a revenue deficit of more than 20%,
and that there were six States that had a revenue
surplus.
 He also said the revenue position for States was by
and large stronger across the board in 2018-19
than in 2017-18.
News Title 02: BSE waives off trading charges on
commodities
 The BSE, which is venturing into commodity
derivatives has waived off transaction charges for
the first year of operations to encourage more
participants to join the commodity market.
 The exchange has received SEBI approval for
launch of delivery-based futures contract in gold
(1 kg) and silver (30 kg).
APPOINTMENTS AND RESIGNS
or Join our Telegram Channel:
 CURRENT AFFAIRS - SEPTEMBER 2018
News Title 01: Dayakaran Sridhar appointed Chief of
Digital Banking and Strategy by AU Small Finance
Bank
 AU Small Finance Bank has appointed Dayakaran
Sridhar as Chief of Digital Banking and Digital
Strategy.
 With 21 years of experience in the BFSI sector,
Sridhar has led digital business in institutions such
as Axis Bank, ICICI Prudential Life Insurance,
Kotak Securities and Citi Bank.
 MD & CEO of AU Small Finance Bank: Sanjay
Agarwal.
News Title 02: Surjit Bhalla-headed advisory group on
trade to help formulate future policies
 The government has constituted a high-level
advisory group on trade headed by economist
Surjit Bhalla to look at ways to boost India’s share
and importance in global merchandise and
services trade in the challenging world scenario.
 Other members of the group include former
Foreign Secretary S Jaishankar, former Commerce
Secretary Rajeev Kher, Principal Economic Advisor
Sanjeev Sanyal, NCAER Director-General Shekhar
Shah, Foreign Policy Advisor Vijay Chauthaiwale,
IIM Bangalore’s Pulok Ghosh, former Ambassador
of India to the WTO Jayant Dasgupta, Luthra &
Luthra’s Rajiv K Luthra and CII DG Chandrajit
Banerjee.
 The panel of trade experts will examine the
prevailing international trade dynamics, including
the rising protectionist tendencies, especially on
the part of major economies, non-engagement by
some countries on outstanding issues and
commitments, including the Doha Development
Agenda, and their insistence on pursuing
negotiating mandates, in many cases prematurely
and without efforts, to build consensus and
common understanding.
SPORTS
To Download Free Bank Study Materials Visit: http://bankexamguru.com/
https://t.me/BankExamGuru
News Title 01: Asia Cup 2018: India holds nerve in a
thriller to lift seventh title
 India beat Bangladesh by 3 wickets wickets in Asia
cup final at Abudhabi, UAE.
 Bangladesh batted first all out for 222runs in 48.3
overs.
 India chased it at the last ball of second innings.
 Man of the match: Liton Das (Bangladesh) for
scoring 121 in final.
 Man of the series: Shikhar Dhawan
News Title 02: Sable breaks 37-year-old National
record
 Avinash Sable erased Gopal Saini’s 37-year-old
National record to retain the men’s 3000m
steeplechase title in style on the concluding day of
the National Open athletics championships.
 The 24-year-old Armyman gave a commanding
performance to set the new mark of 8:29.80 and
became the first Indian to do a sub-8:30.
 Saini had clocked 8:30.88 in the Asian athletics
championships at Tokyo in 1981.
 Sable’s previous best was 8:39.81, achieved in the
same competition on the same day in Chennai last
year.
 Asian Games gold medallist Arpinder Singh took
the men’s triple jump gold medal effortlessly.
 Current Asian Games medallist Ayyasamy Dharun,
who took the lead after the last hurdle, timed
49.67 to break the meet record in men’s 400m
hurdles.
or Join our Telegram Channel: