Current Affairs 16th 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 16th February 2018: Daily GK Update

News Related to National

1. India’s Biggest Global Pharma Conference Begins In Bengaluru

i. India’s biggest Global Conference on Pharma Industry and Medical Devices began in Bengaluru With the theme, ‘Driving NextGen Pharmaceuticals. Union Minister for Chemicals & Fertilisers Ananth Kumar inaugurated the three-day event.

ii. The event is being organised by the Department of Pharmaceuticals (DoP), Ministry of Chemicals and Fertilisers, along with Federation of Indian Chambers of Commerce & Industry (FICCI). 

2. India’s Aadhaar And Umang App Win Award In Dubai

i. India’s Umang App was named winner of the Best M-Government Service award in the Accessible Government category while Aadhar won the best emerging technology award at the recently concluded World Government Summit 2018 in Dubai, where India had the status of ‘Guest of Honour’ country.

ii. The Summit acknowledged technology pioneers for providing global solutions to global challenges. The mobile application Umang App provides users a unified platform that combines government departments and services, facilitating transactions for citizens. The award acknowledged Government of India’s efforts to provide convenient services to its citizens.

News Related to Banking and Finance

3. Yes Bank Lists Country’s First $600m MTN Bond On IndiaINX

i. Private sector lender, Yes Bank has announced the listing of the Bank’s debut US $600 million bond issue under its maiden US $1 billion medium-term note (MTN) bond on country’s first international exchange BSE’s IndiaINX at the International Financial Services Centre (IFSC) at GIFT City in Gandhinagar.

ii. The Yes Bank’s MTN programme— a debt note that matures or has a payback period of 5 years on Global Securities Market (GSM) became the country’s first capital raising platform for international investors in any currency.

Static/Current Takeaways Important for Syndicate Bank PO 2018 Exam-
  • Yes Bank MD and CEO- Rana Kapoor
  • Headoffice of Yes Bank- Mumbai
  • YES BANK is India’s fifth largest private sector Bank.

International News

4. Ethiopia's Prime Minister Resigns To Smooth Path For Political Reform

i. Ethiopia's Prime Minister Hailemariam Desalegn suddenly resigned in what he described as a bid to smooth reforms, following years of violent unrest that threatened the ruling party's hold on Africa's second most populous nation.

ii. The resignation has unprecedented in Ethiopia's history - followed a wave of strikes this week in towns near the capital and demonstrations successfully demanding the release of more opposition leaders.

5. Cyril Ramaphosa Sworn In As New President Of South Africa

i. Cyril Ramaphosa, head of the ruling African National Congress (ANC) has been sworn in as South Africa's new President. He was elected as the new president of South Africa by the ruling party politicians after the resignation of Jacob Zuma. 

ii. The country's 400-member parliament, dominated by the ruling African National Congress Party (ANC), elected Ramaphosa  to finish his predecessor's term, which ends with elections in 2019. The ANC has finished first in every national vote since the end of white-minority rule in 1994.

News Related to Appointment

6. Haruhiko Kuroda Reappointed As Bank Of Japan Chief

i. Japan's government has reappointed Bank of Japan Governor Haruhiko Kuroda for another term and chose an advocate of bolder monetary easing as one of his deputies, a sign the central bank will be in no rush to dial back its massive stimulus program.

ii. The government also submitted to parliament its nomination of Masazumi Wakatabe, a professor at Waseda University and an advocate of aggressive monetary easing, as deputy governor.

Static/Current Takeaways Important for Canara Bank PO 2018 Exam-
  • The Bank of Japan (BOJ) is the central bank of Japan.
  • Headquarters of BOJ: Tokyo, Japan.
  • The Bank of Japan was established under the Bank of Japan Act (promulgated in June 1882) and began operating on 10th October 1882, as the nation's central bank.

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