Current Affairs of 6 October

1. John O’Keefe, May‐Britt Moser, Edvard I Moser win Nobel prize in medicine
 The 2014 Nobel prize in physiology or medicine has been awarded to John O Keefe, May‐Britt Moser and Edvard I Moser for their discoveries of cells that constitute a positioning system in the brain.
Keefe is currently director of the Sainsbury Wellcome Centre in Neural Circuits and Behaviour at University College London.
This year's Nobel Laureates have discovered a positioning system, an "inner GPS" in the brain that makes it possible to orient ourselves in space, demonstrating a cellular basis for higher cognitive function. In 1971, John O'Keefe discovered the first component of this positioning system. He found that a type of nerve cell in an area of the brain called the hippocampus that was always activated when a rat was at a certain place in a room. Other nerve cells were activated when the rat was at other places. O'Keefe concluded that these "place cells" formed a map of the room.
More than three decades later, in 2005, May‐Britt and Edvard Moser discovered another key component of the brain's positioning system. They identified another type of nerve cell, which they called "grid cells", that generate a coordinate system and allow for precise positioning and pathfinding. Their subsequent research showed how place and grid cells make it possible to determine position and to navigate.
2. Flipkart hosts biggest-ever sale, website 'crashes'
Flipkart is hosting what it claims to be its biggest sale today with discounts and offers across 70 categories. The online marketplace is calling it 'The Big Billion Day' and says it has dedicated 10,000 field staff to fulfill orders.
As part of the sale, the company says it is offering multiple items at price of Re 1, up to 30% off on smartphones, laptops starting Rs 15,000, fashion and perfumes at 50% off and toys at 50% off, among others. It's also hosting exchange offers on televisions and phones.
The sale started at 8am with some limited time, limited stock and partner offers. However, Flipkart is receiving flak for not being able to offer a good shopping experience and increasing the selling price before the start of the sale.
The site crumbled due to increased load throwing random errors. A large number of consumers were not getting order confirmation after making payments and some were not able to see items they added to their shopping cart. The consumers shared their grievances on social networking website, Twitter.

3. Skype to block local voice calls from India starting November 10

Internet-based calling service Skype will stop delivering calls on landline and mobile phones in India from November 10. The Microsoft-owned company did not give any reason for this move.
In a statement, Skype said that users will not be able to make calls to phones in India if they are based in India. However, Skype calls to other countries are still enabled for India-based users.

4. With broom in hand, Sachin Tendulkar joins 'Swachh Bharat' campaign
Cricket icon Sachin Tendulkar on Sunday accepted Prime Minister Narendra Modi's nomination as one of the 'ambassadors' of 'Swachh Bharat' campaign by sweeping a road here with a broom in hand.
Tendulkar was one of the nine celebrities nominated by the Prime Minister to spread awareness on cleanliness when he kicked off his ambitious campaign on October 2 on the 145th birth anniversary of Mahatma Gandhi.

5. Pension funds will be allowed to invest in covered bonds, asset-backed securities
 Pension regulator PFRDA will soon allow pension funds to invest in covered bonds and asset-backed securities (ABS), said Chairman RV Verma. The proposed move comes on the heels of the pension funds being allowed to invest in Basel-III compliant bank bonds.
“The main idea is to widen the investment avenues for the pension funds. Inclusion of covered bonds and ABS as eligible instruments for investment would help deepen the capital markets. It will also help the issuers of these two instruments, as more long-term funding will be available to them for asset creation,” Verma told

6. World Bank trims Asia growth outlook, urges reform
 The World Bank has trimmed its growth forecast for developing East Asian economies this year to 6.9 per cent and urged governments to improve conditions for investment and exports.
Monday’s forecast said Asian growth should pick up next year, with the exception of China, as a recovery in developed markets increases demand for exports.
The latest growth outlook is down from the bank’s 7.1 per cent forecast for the region that includes China, Southeast Asia and Pacific Islands. But the region still has the world’s fastest growth.
The bank said the region has the potential to grow faster than other developing regions if governments implement an “ambitious domestic reform agenda” including removing barriers to investment and improving export competitiveness.

7. No exchange of sweets between India and Pakistan at Wagah border on Eid
With tension prevailing at the border, the traditional exchange of sweets between the troops of India and Pakistan along the Wagah border in Punjab on Eid has been called off.
Official sources said during a late evening flag meeting between the sector commanders of the Border Security Force and Pakistan Rangers on Sunday, the other side refused to fix a proper time for the ceremony to be held on Monday.
"The Pakistan side refused the exchange of sweets on Eid today (Monday). They cited no reasons but it is understood that the prevailing tension along J&K border due to unprovoked firing incidents from the other side is the reason," the sources said.
Hence, the BSF did not make any movement along the Wagah border and the border gates remained shut.

8. India set to build supercomputer grid
Determined to raise India’s ranking in the world of high-performance computers, the government is set to clear a Rs. 4,500-crore ($730 million) mission this month to build supercomputers nearly 40 times quicker than our fastest one.
A finance ministry panel mandated to clear all big-ticket investments recently okayed the National Supercomputing Mission, jointly steered by the department of science and technology and the department of electronics and information technology.
“The seven-year-long project would be placed before cabinet soon,” a top government source told HT.
The mission intends to set up 73 supercomputing facilities on a buy-and-build approach at academic and research institutions across the country and network them into a grid. Three of them — the first ones to be set up over the first three years — would be India’s first supercomputers capable of peta-scale computing and would join a global league of just 37 such machines.


9. Novak Djokovic thrashes Tomas Berdych to win fifth China Open title
Novak Djokovic thrashed Tomas Berdych in a one-sided contest to win
his fifth China Open title on Sunday, while Maria Sharapova overcame Petra Kvitova 6-4, 2-6, 6-3 in the women’s final to move up to number two in the world rankings.
Top seed Djokovic took 66 minutes to seal a 6-0, 6-2 win against Berdych, who raised his arms in celebration when he won a game to avoid the ignominy of a double bagel with the Serbian player leading 6-0, 5-0 and serving for the match.
Berdych managed to win back-to-back games, but the world No1 sealed an easy win to continue his love affair with the Beijing tournament, where he now has a 24-0 record.

10. Country celebrates Eid-ul-Azha today; Prime Minister Narendra Modi greets nation on the occasion
The nation is observing and celebrating the Muslim festival of Eid-ul-Azha with traditional gaiety and devotion across the country today.
On this occasion, Muslims from all walks of life wear new clothes and attend an open-air prayer meetings. The faithfuls are offering Eid prayers in Eidgahs and mosques.
People in most parts of the country have begun to offer special Eid-ul-Azha prayers. They sacrifice a sheep or goat and share the meat with family members, neighbors and the poor.
Prime Minister Narendra Modi also greeted the nation on the occasion of Eid-ul-Zuha, wishing that the festival strengthens spirit of harmony and compassion in the society. "Best wishes on Eid-ul-Zuha," Modi tweeted ahead of the Muslim festival. 


1. John O’Keefe, May‐Britt Moser, Edvard I Moser win Nobel prize in medicine
 The 2014 Nobel prize in physiology or medicine has been awarded to John O Keefe, May‐Britt Moser and Edvard I Moser for their discoveries of cells that constitute a positioning system in the brain.
Keefe is currently director of the Sainsbury Wellcome Centre in Neural Circuits and Behaviour at University College London.
This year's Nobel Laureates have discovered a positioning system, an "inner GPS" in the brain that makes it possible to orient ourselves in space, demonstrating a cellular basis for higher cognitive function. In 1971, John O'Keefe discovered the first component of this positioning system. He found that a type of nerve cell in an area of the brain called the hippocampus that was always activated when a rat was at a certain place in a room. Other nerve cells were activated when the rat was at other places. O'Keefe concluded that these "place cells" formed a map of the room.
More than three decades later, in 2005, May‐Britt and Edvard Moser discovered another key component of the brain's positioning system. They identified another type of nerve cell, which they called "grid cells", that generate a coordinate system and allow for precise positioning and pathfinding. Their subsequent research showed how place and grid cells make it possible to determine position and to navigate.
2. Flipkart hosts biggest-ever sale, website 'crashes'
Flipkart is hosting what it claims to be its biggest sale today with discounts and offers across 70 categories. The online marketplace is calling it 'The Big Billion Day' and says it has dedicated 10,000 field staff to fulfill orders.
As part of the sale, the company says it is offering multiple items at price of Re 1, up to 30% off on smartphones, laptops starting Rs 15,000, fashion and perfumes at 50% off and toys at 50% off, among others. It's also hosting exchange offers on televisions and phones.
The sale started at 8am with some limited time, limited stock and partner offers. However, Flipkart is receiving flak for not being able to offer a good shopping experience and increasing the selling price before the start of the sale.
The site crumbled due to increased load throwing random errors. A large number of consumers were not getting order confirmation after making payments and some were not able to see items they added to their shopping cart. The consumers shared their grievances on social networking website, Twitter.

3. Skype to block local voice calls from India starting November 10

Internet-based calling service Skype will stop delivering calls on landline and mobile phones in India from November 10. The Microsoft-owned company did not give any reason for this move.
In a statement, Skype said that users will not be able to make calls to phones in India if they are based in India. However, Skype calls to other countries are still enabled for India-based users.

4. With broom in hand, Sachin Tendulkar joins 'Swachh Bharat' campaign
Cricket icon Sachin Tendulkar on Sunday accepted Prime Minister Narendra Modi's nomination as one of the 'ambassadors' of 'Swachh Bharat' campaign by sweeping a road here with a broom in hand.
Tendulkar was one of the nine celebrities nominated by the Prime Minister to spread awareness on cleanliness when he kicked off his ambitious campaign on October 2 on the 145th birth anniversary of Mahatma Gandhi.

5. Pension funds will be allowed to invest in covered bonds, asset-backed securities
 Pension regulator PFRDA will soon allow pension funds to invest in covered bonds and asset-backed securities (ABS), said Chairman RV Verma. The proposed move comes on the heels of the pension funds being allowed to invest in Basel-III compliant bank bonds.
“The main idea is to widen the investment avenues for the pension funds. Inclusion of covered bonds and ABS as eligible instruments for investment would help deepen the capital markets. It will also help the issuers of these two instruments, as more long-term funding will be available to them for asset creation,” Verma told

6. World Bank trims Asia growth outlook, urges reform
 The World Bank has trimmed its growth forecast for developing East Asian economies this year to 6.9 per cent and urged governments to improve conditions for investment and exports.
Monday’s forecast said Asian growth should pick up next year, with the exception of China, as a recovery in developed markets increases demand for exports.
The latest growth outlook is down from the bank’s 7.1 per cent forecast for the region that includes China, Southeast Asia and Pacific Islands. But the region still has the world’s fastest growth.
The bank said the region has the potential to grow faster than other developing regions if governments implement an “ambitious domestic reform agenda” including removing barriers to investment and improving export competitiveness.

7. No exchange of sweets between India and Pakistan at Wagah border on Eid
With tension prevailing at the border, the traditional exchange of sweets between the troops of India and Pakistan along the Wagah border in Punjab on Eid has been called off.
Official sources said during a late evening flag meeting between the sector commanders of the Border Security Force and Pakistan Rangers on Sunday, the other side refused to fix a proper time for the ceremony to be held on Monday.
"The Pakistan side refused the exchange of sweets on Eid today (Monday). They cited no reasons but it is understood that the prevailing tension along J&K border due to unprovoked firing incidents from the other side is the reason," the sources said.
Hence, the BSF did not make any movement along the Wagah border and the border gates remained shut.

8. India set to build supercomputer grid
Determined to raise India’s ranking in the world of high-performance computers, the government is set to clear a Rs. 4,500-crore ($730 million) mission this month to build supercomputers nearly 40 times quicker than our fastest one.
A finance ministry panel mandated to clear all big-ticket investments recently okayed the National Supercomputing Mission, jointly steered by the department of science and technology and the department of electronics and information technology.
“The seven-year-long project would be placed before cabinet soon,” a top government source told HT.
The mission intends to set up 73 supercomputing facilities on a buy-and-build approach at academic and research institutions across the country and network them into a grid. Three of them — the first ones to be set up over the first three years — would be India’s first supercomputers capable of peta-scale computing and would join a global league of just 37 such machines.


9. Novak Djokovic thrashes Tomas Berdych to win fifth China Open title
Novak Djokovic thrashed Tomas Berdych in a one-sided contest to win
his fifth China Open title on Sunday, while Maria Sharapova overcame Petra Kvitova 6-4, 2-6, 6-3 in the women’s final to move up to number two in the world rankings.
Top seed Djokovic took 66 minutes to seal a 6-0, 6-2 win against Berdych, who raised his arms in celebration when he won a game to avoid the ignominy of a double bagel with the Serbian player leading 6-0, 5-0 and serving for the match.
Berdych managed to win back-to-back games, but the world No1 sealed an easy win to continue his love affair with the Beijing tournament, where he now has a 24-0 record.

10. Country celebrates Eid-ul-Azha today; Prime Minister Narendra Modi greets nation on the occasion
The nation is observing and celebrating the Muslim festival of Eid-ul-Azha with traditional gaiety and devotion across the country today.
On this occasion, Muslims from all walks of life wear new clothes and attend an open-air prayer meetings. The faithfuls are offering Eid prayers in Eidgahs and mosques.
People in most parts of the country have begun to offer special Eid-ul-Azha prayers. They sacrifice a sheep or goat and share the meat with family members, neighbors and the poor.
Prime Minister Narendra Modi also greeted the nation on the occasion of Eid-ul-Zuha, wishing that the festival strengthens spirit of harmony and compassion in the society. "Best wishes on Eid-ul-Zuha," Modi tweeted ahead of the Muslim festival. 


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