Current Affair October 2015

1. PM - Comprehensive National IPR policy is being finalised
(i) On October 6, Prime Minister Narendra Modi said that a comprehensive national IPR Policy is being finalised to address the long pending concerns of the investors and he expressed hope of rolling out GST by 2016.
(ii) PM Modi with German Chancellor Angela Merkel was addressing the Indo-German Business Summit organised by NASSCOM based on the theme 'Digitising Tomorrow'  in Bengaluru.
(iii) Emphasising on 'Make in India' campaign Modi called for greater collaboration between India and Germany across various sectors such as IT and manufacturing industry among others.
(iv) German Chancellor Merkel added that both India and Germany will tremendously benefit from the Free Trade Agreement (FTA) between European Union and India.
2. Indian Air Force celebrates 83rd anniversary 
(i) The Indian Air Force is celebrating its 83rd anniversary today. The day will be celebrated through enthralling air display  by several aircraft which will be the hallmark of the Air Force Day Parade cum Investiture Ceremony at Air Force Station Hindon in Ghaziabad.
(ii) The Indian Air Force was established on 8th October 1932,  and has turned 83 this year. IAF  since its establishement has proved its might both in times of war and peace.
(iii) Be it the war of 1965, 1971 or Kargil war of 1999 or rescue operation IAF carried out in Jammu and Kashmir, Uttarakhand and Nepal.
3. Productivity linked bonus for non gazetted railway employees
(i) The Union Cabinet on October 7, cleared the payments of productivity linked bonus( PLB) equivalent for 78days for the financial year 2014 and 2015 for non- gazetted railway employees.
(ii) The wage calculation ceiling prescribed for payment of PLB to the eligible non-gazetted railway employees is Rs.3,500 per month, the maximum amount payable per eligible railway employee is Rs. 8,975 for 78 days as per the press release.
(iii) Further the press release added, a  PLB of 78 days' wages was earlier paid for the financial years 2010-11, 2011-12, 2012-13 and 2013-14. This year also it will be paid considering the good financial performance.
4. Forbes: India is home to 14 top Asian Dynasties
(i) Business families from India hold 14 spots in Forbes Asia inaugural ranking of the top 50 Asian dynasties as per the recently released Forbes ranking.
(ii) As per the rankings, half of the richest families in Asia are of Chinese descent, but none hail form mainland China.
(iii) The list is topped by South Korean Lee family, who controls the Samsung Group with a combined wealth of $26.6 billion. Followed by number two on the list is the Lee family of Henderson Land Development from Hong Kong with a combined wealth of $24.1 billion. The Indian family Ambani is ranked third on the list with a combined fortune of $21.5 billion.
5. National War Memorial to come up near India Gate 
(i) The Cabinet chaired by Prime Minister Narendra Modi today approved construction of a National War Museum at Princess Park, near India Gate, New Delhi after over six decades of consultation.
(ii) The proposal to have  national war memorial in memory of the military martyrs of independent India had been pending since 1960.
(iii) The project is to cost an estimated Rs. 500 crore and will be completed in a period of five years. This location of the memorial will be at India Gate which was built by the British as the All India War Memorial to commemorate the sacrifices of 13,300 soldiers who died in World War I and the Third Anglo-Afghan War.
6. Three win Nobel for Chemistry
(i) Three Scientist,  from Sweden, the United States and Turkey won the 2015 Noble Prize in Chemistry for their research on how cells repair damaged DNA,  serving as new solution in treatment of cancer.
(ii) Thomas Lindhal, Paul Modrich and Aziz Sancar won the honour for their research  in "mechanised studies of DNA repair."
(iii) Their work concerned  how cells repair deoxyribonucleic acid (DNA) to prevent damaging errors from appearing in genetic information. Since in cancer, one  of the many of these rapid systems is damaged. This research will prove  to be pioneering in terms of war on cancer.