Current Affairs 11th and 12th February 2018: Daily GK Update

Dear Aspirants,

The General Awareness Section of Banking Exams covers numerous sections in it like Banking Awareness, Static GK, and Current Affairs. But the most important thing that you might have noticed is that both the Banking Awareness and Static Awareness questions asked in the General Awareness Section are based on Current Affairs only. The questions on Static and Banking Awareness are related to the countries, events or anything that has been in news for a while. Apart from the GA Section, an excellent knowledge of current news also helps you deal with the PI (Personal Interview) more efficiently so you do not give a mumble jumble answer to the interviewee's simple questions. Here is the Daily GK Update to get you acquainted with the top events that made the headlines today!!

Current Affairs 11th and 12th February 2018: Daily GK Update

National News

1. Rajnath Singh inaugurates first of its kind spoken Sanskrit centre

i. Union Home Minister Rajnath Singh has launched the Centre for learning Sanskrit language in Gujarat University, Ahmedabad. 
ii. The centre will offer a six-month course for people on how to speak the language. The coordinator of the course, Atul Unagar stated it was possibly the first such course launched in India.

2. Nitin Gadkari Releases India’s 1st Ever Highway Capacity Manual

i. The Minister of Road Transport & Highways Mr Nitin Gadkari released India’s first ever Highway Capacity Manual (HCM) in New Delhi.
ii. The manual is also known as Indo-HCM and it has been developed by CSIR – CRRI on the basis of an extensive, country-wide study of the traffic characteristics on different categories of roads like a single lane, two-lane, multi-lane urban roads, and the associated intersections on these roads.

Static/Current Takeaways Important for Syndicate Bank PO 2018 Exam-
  • CSIR- Council of Scientific & Industrial Research.
  • CRRI- Central Road Research Institute.

International News

3. Mumbai 12th Richest City Globally, New York Tops: New World Wealth Report

i. Mumbai, India's financial capital is the 12th richest city in the world with a total wealth of $950 billion, according to a report by New World Wealth. The list was topped by New York as the richest city in the world.
ii. Total wealth refers to the private wealth held by all the individuals living in each city. It includes all their assets (property, cash, equities and business interests) less any liabilities. The top 3 richest cities in the list are- 
1. New York ($3 trillion).
2. London ($2.7 trillion).
3. Tokyo ($2.5 trillion).

4. PM Modi 3 Nation Visit- India and Palestine sign 6 MoUs

i. India and Palestine have signed six Memorandums of Understanding (MoU)s worth USD 40 million.  This was welcomed by Palestinian President Mahmoud Abbas. 
ii. During the term of this Government, the President of India made the first ever visit to Palestine in 2015.

5. PM Modi 3 Nation Visit- India, Oman Sign 8 MoUs

i. India and Oman have signed eight MoUs in different areas during PM Narendra Modi’s maiden visit to the Gulf nation. The fields in which the agreements were inked include defence, health and tourism.
ii. An MoU on legal and judicial co-operation in civil and commercial matters was also signed. The agreements were inked after Mr Modi held delegation-level talks with the Sultan of Oman, Qaboos bin Said al Said in Muscat.

Static/Current Takeaways Important for Syndicate Bank PO 2018 Exam-
  • Oman Capital- Muscat, Currency- Omani rial.

6. PM Modi 3 Nation Visit- India-UAE Ink 5 Agreements

i. Prime Minister Narendra Modi and Crown Prince Sheikh Mohammad bin Zayed al Nahyan held bilateral talks at the Presidential Palace in Abu Dhabi, the UAE.
ii. PM Modi also laid the foundation stone of the first Hindu temple in Abu Dhabi. The two sides inked 5 agreements related to energy & railway sectors, manpower and financial services.
iii. The 5 MoUs signed between the two nation are as follows-
1. MoU between a consortium led by ONGC and Abu Dhabi national oil company for acquisition of 10% stake in offshore concession was inked.
2. MoU aiming to institutionalize employment of Indian workers in UAE to safeguard their interests was also signed.
3. MoU aiming at technical cooperation in rail sector between Ministry of railways and Federal transport authority and maritime of UAE signed.
4. In the area of financial services, MoU between BSE and Abu Dhabi Securities exchange was also inked.
5. MoU between Government of Jammu and Kashmir and DP World was also signed to establish multi-modal logistics park and hub in Jammu comprising warehouses and specialized storage solutions.

Static/Current Takeaways Important for Syndicate Bank PO 2018 Exam-
  • The United Arab Emirates Capital- Abu Dhabi, Currency- United Arab Emirates dirham.

7. PM Modi 3 Nation Visit- PM Modi Meets CEOs at India-Oman Business Meet

i. On the last day of PM Modi's 3 Nation visit, he addressed business leaders at the 'India-Oman Business Meet', organised by Ministry of Commerce and Industry of Oman, in association with Embassy of India in Muscat.
ii. This forum aims at uplifting Omani and Indian entrepreneurs to conduct successful businesses with the other.

Static/Current Takeaways Important for Syndicate Bank PO 2018 Exam-
  • Oman Capital- Muscat, Currency- Omani rial.

Banking/Business/Economy News

8. PM Modi 3 Nation Visit- ONGC Videsh, Partners Acquire 10% Stake in Abu Dhabi Oilfield

i. ONGC (Oil and Natural Gas Corporation) Videsh Ltd and its partners have acquired a 10% in a large offshore oilfield Abu Dhabi National Oil Co.’s (ADNOC) in Abu Dhabi for $600 million. It is the first time any Indian company has set foot in oil-rich Emirate.
ii. The current production of this field is about 400,000 barrels of oil per day (20 million tonnes per annum) and Indian consortium’s annual share shall be about 2 million tonnes. The contract for the concession was signed in Abu Dhabi in presence of Abu Dhabi Crown Prince Sheikh Mohamed bin Zayed al-Nahyan and Prime Minister Narendra Modi.

Static/Current Takeaways Important for Syndicate Bank PO 2018 Exam-
  • ONGC Videsh Ltd (OVL) is the overseas arm of state-owned ONGC, Indian Oil Corp. (IOC) and a unit of Bharat Petroleum Corp. Ltd (BPCL).

9. SBI Wrote Off Bad Loans Worth Over Rs 20,000 crore Last Fiscal

i. The country’s largest lender SBI wrote off bad loans worth Rs 20,339 crore in 2016-17, the highest among all the public sector banks, which had a collective write off of Rs 81,683 crore for the fiscal. The data pertains to the period when the associate banks of SBI were not merged with it.
ii. Besides SBI, Punjab National Bank had a write-off of Rs 9,205 crore in 2016-17, followed by Bank of India (Rs 7,346 crore), Canara Bank (Rs 5,545 crore) and Bank of Baroda (Rs 4,348 crore).

Static/Current Takeaways Important for Syndicate Bank PO 2018 Exam-
  • SBI Chairman- Rajnish Kumar, Headquarters- Mumbai, Established on- 01st July 1955.

10. Direct tax collections rise 19.3% in April- January


i. Direct tax collections grew by nearly 20% between April and January this year with strong growth in both corporate and personal income tax receipts. According to official data released, net direct tax collections grew by 19.3% up to January 2018 to Rs 6.95-lakh crore.
ii. While net corporate income tax grew by 19.2%, personal income tax receipts rose by 18.6% in January this year. Gross tax collections also grew at a robust 13.3% to Rs 8.21-lakh crore between April 2017 and January 2018.


Sports News

11. Sharmila Nicollet, 1st Indian Golfer to Qualify for China LPGA Tour

i. Sharmila Nicollet has become the first Indian golfer to qualify for the China Ladies PGA Tour. The 26-year-old Bengaluru golfer fought her way back into the tournament in the last two rounds to earn a card for the Tour.
ii. Sharmila had played on the Ladies European Tour before losing her full card, played her three rounds in the CLPGA Tour Qualifying School.


12. Rohan More Becomes 1st Asian to Swim Across Ocean Seven

i. Pune-based swimmer, Rohan More became the first Asian as well as the first Indian to swim across the Ocean Seven. He is the youngest to complete it. He swam across the Cook Strait between North and South Islands of New Zealand in 8 hours and 37 minutes.
ii. With this, More becomes only the ninth person in the world to complete it. He has received the Tenzing Norgay Award from the Indian Ministry of Youth Affairs and Sports. The award was presented by President Ram Nath Kovind.


Obituaries

13. Pakistani Activist Asma Jahangir Passes Away

i. Asma Jahangir, Pakistan’s renowned human rights lawyer, social activist and an outspoken critic of the country’s powerful military establishment, passed away of cardiac arrest. She was 66.
ii. She was the first woman to serve as the president of Supreme Court Bar Association of Pakistan.


14. Golden Globe Award Winner Musician Johann Johannsson Passes Away

i. Acclaimed Icelandic musician and Oscar-nominated composer Johann Johannsson has passed away aged 48.
ii. In 2014, he was nominated for BAFTA, Grammy and Oscar awards for his score for ‘Theory of Everything,’ and won the Golden Globe award, making him one of the most well-known composers Iceland has produced.

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