Current Affairs 07th March 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. Here is the Daily GK Update to get you acquainted with the top events that made the headlines today!!

Current Affairs 07th March 2018: Daily GK Update

National News

1. Neiphiu Rio Appointed Nagaland CM

i. Nagaland Governor PB Acharya has appointed Neiphiu Rio as the new Chief Minister of the state.  Mr Rio will replace TR Zeliang.
ii. Mr Rio will take the oath of his duties shortly. The Governor has also requested Mr Rio to prove his majority on the floor of the House on or before 16th of March.

Static/Current Takeaways Important for Exams-
  • Neiphiu Rio is currently Member of Parliament, Lok Sabha from Northern Angami-II Parliamentary constituency. 
  • Nagaland Capital- Kohima, Governor- PB Acharya.

2. Iraq Becomes India’s Biggest Oil Supplier

i. Iraq has become India’s biggest crude oil supplier by overtaking Saudi Arabia with a wide margin in this current financial year.
ii. Iraq supplied 38.9 million tonnes (MT) of oil, which was more than 20% of country’s oil needs. India is 80% dependent on imports to meet its oil needs.

Static/Current Takeaways Important for Exams-
  • Iraq Capital- Baghdad, Currency- Iraqi dinar

3. Transport Ministry Launches a Scheme and Sukhad Yatra App

i. Union Minister for Road Transport & Highways Nitin Gadkari has announced that soon there will be no human interface in granting driving licences to heavy vehicle drivers in the country. He has launched the scheme for District Driving Training Centres in New Delhi.
ii. The process of approving such driving licenses will be made fully computerised. The Minister also launched Sukhad Yatra mobile App and Toll-free Emergency number (1033) for highway users.

International News

7. Washington Becomes 1st State to Approve Net-Neutrality Rules

i. Washington has become the first state to enact its own net-neutrality requirements after U.S. regulators repealed Obama-era rules designed to keep the internet an even playing field.
ii. The new law also requires internet providers to disclose information about their management practices, performance and commercial terms. Violations would be enforceable under the state’s Consumer Protection Act.

5. European Development Bank Approves India’s Membership

i. India is all set to become the 69th member of the European Bank for Reconstruction and Development (EBRD) after shareholders of the international financial institution gave their nod to the country’s candidature.
ii. The formal membership process will now get underway, which includes the purchase of shares by India at an estimated cost of around 1 million euros. The EBRD’s Board of Governors voted in favour of India’s membership application.

Static/Current Takeaways Important for Exams-
  • Suma Chakrabarti is the President of the European Bank for Reconstruction and Development.
  • EBRD headquarters in- London, UK,  Established in- 1991.

6. Forbes Billionaires List 2018: Amazon's Bezos Richest, Mukesh Ambani Ranked 19

i. With a fortune worth $110 billion, Amazon founder Jeff Bezos is the world's richest man and tops a 2018 Forbes Magazine list of billionaires. According to the Forbes, Bezos is the first person to top $100 billion as number one on the Forbes list of the World's Billionaires.
ii. Microsoft founder Bill Gates is second ($90 billion), investment guru Warren Buffet third ($84 billion)Bernard Arnault and family fourth ($72 billion), and Facebook founder-CEO Mark Zuckerberg fifth ($71 billion).
iii. Indian industry titan Mukesh Ambani, the chairman of Reliance Industries Limited, is 19th on the list. He's valued at $40.1 billion.

Static/Current Takeaways Important for Exams-
  • Forbes- American Business Magazine, Founded in- 1917.
  • Headquarters- New York City, USA.

Business News 

7. Microsoft Inks Renewable Energy Deal for Bengaluru Facility

i. Tech giant Microsoft has inked its first renewable energy deal in India for powering its new facility in Bengaluru. The facility, which will be operational starting June, is spread over 5.85 lakh square feet.
ii. The agreement will see Microsoft purchase 3 megawatts of solar-powered electricity from Atria Power for its new office building in Bengaluru, meeting 80% of the projected electricity needs at the facility.

Static/Current Takeaways Important for Exams-
  • Microsoft Corporation is an America Based technology company.
  • CEO- Satya Nadella, Headquarters- Washington DC.

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