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08th May 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

Here is the Daily GK Update of 08th May 2021 covering the following news headlines: World Migratory Bird Day, Forest Ponds, Chief Minister of Puducherry, Regulatory Review Authority (RRA 2.0), Lakshmi Vilas Bank.

Daily GK updates are incorporated with the important news that made the current affairs headlines for banking or other competitive exams. Daily GK Update is the complete bag of the important news that held all day long. One should have complete knowledge about banking terms, current affairs news, etc. So, here is the GK update of 08th May 2021 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

08th May 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam_50.1

State News

1. Himachal Pradesh is Building ‘Forest Ponds’ to Harvest Rainwater

08th May 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam_60.1

  • Under the Parvat Dhara scheme, the Himachal Pradesh government has initiated rejuvenation of water sources and recharging aquifers through the forest department with an outlay of Rs 20 crore.
  • The work was started in 10 forest divisions that include Bilaspur, Hamirpur, Jogindernagar, Nachan, Parvati, Nurpur, Rajgarh, Nalagarh, Theog and Dalhousie.
  • Under the scheme, the cleaning and maintenance of existing ponds have been done. Also, the construction of new ponds, contour trenches, dams, check dams and retaining wall to control the soil erosion has been done.
  • The scheme aims to enhance the water level by retaining water for the maximum period. Efforts are also being made to improve the green cover by planting fruit-bearing plants.

Important takeaways for all competitive exams:

  • Himachal Pradesh Governor: Bandaru Dattatreya;
  • Himachal Pradesh CM: Jai Ram Thakur.

2. N Rangasamy Sworn in as Chief Minister of Puducherry

08th May 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam_70.1

  • The All India NR Congress (AINRC) founder leader N Rangasamy has been sworn in as the Chief Minister of the Union Territory of Puducherry, for a record fourth time, on May 07, 2021.
  • N Rangasamy was administered the oath of office and secrecy by Lieutenant governor (additional charge) Tamilisai Soundararajan. Prior to this, the 71-year-old served as Chief Minister of Puducherry from 2001 to 2008 as a member of the Indian National Congress and then from 2011 to 2016 as a member of AINRC.
  • It will be the first time that Rangasamy will be heading a coalition cabinet, National Democratic Alliance (NDA) in the UT, which has members from BJP and AINRC.

Banking News

3. RBI sets up an advisory group to assist RRA 2.0

08th May 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam_80.1

  • The Reserve Bank of India (RBI) has constituted an advisory group to assist the second Regulatory Review Authority (RRA 2.0), which was set by the central bank on May 01, 2021 to streamline regulations and reduce the compliance burden of regulated entities.
  • The Advisory Group will be headed by SBI Managing Director S Janakiraman.
  • The second Regulatory Review Authority (RRA 2.0), has been set up for a period of one year from May 01, 2021, to review the regulations, circulars, reporting systems and compliance procedures for streamlining them and making them more effective.
  • The group will assist the RRA 2.0 by identifying regulations, guidelines, and returns that can be rationalised, and submit reports periodically to RRA containing the recommendations/suggestions.

Important takeaways for all competitive exams:

  • RBI 25th Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

Business News

4. RBI excludes Lakshmi Vilas Bank from second schedule of RBI Act

08th May 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam_90.1

  • The Reserve Bank of India (RBI) has excluded Lakshmi Vilas Bank (LVB) from the Second Schedule of the RBI Act after it was merged with DBS Bank India Ltd (DBIL) last year.
  • A bank mentioned in the Second Schedule of the Reserve Bank of India Act is known as ‘Scheduled Commercial Bank’. 
  • Last year in November, the government had approved the merger of crisis-ridden Lakshmi Vilas Bank with DBS Bank India. The RBI had also superseded the board of the LVB and appointed T N Manoharan, former non-executive chairman of Canara Bank, as the administrator of the bank for 30 days.
  • LVB is the second private sector bank after Yes Bank which has run into rough weather during this year.
  • In March, capital-starved Yes Bank was placed under a moratorium. The government rescued Yes Bank by asking the state-run State Bank of India to infuse Rs 7,250 crore and take a 45 per cent stake in the bank.

Important takeaways for all competitive exams:

  • Lakshmi Vilas Bank Headquarters: Chennai, Tamil Nadu.
  • Lakshmi Vilas Bank Founded: 1926.

Summits and Conferences News

5. Prahlad Singh Patel Virtually Participates In G20 Tourism Ministers’ Meeting

08th May 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam_100.1

  • Union Minister of State for Tourism & Culture (I/c), Prahlad Singh Patel participated in G20 Tourism Ministers’ Meeting held in Italy on 4th May 2021.
  • This dialogue aimed to collaborate in protecting tourism businesses, jobs and taking initiatives to frame policy guidelines to support the sustainable and resilient recovery of travel and tourism.
  • He also conveyed India’s support for the Principles for the transition to a green travel and tourism economy submitted by UNWTO as a further contribution to the policy area “Green Transformation” to embrace sustainability in tourism.

Important Days

6. World Red Cross and Red Crescent Day: 8 May

08th May 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam_110.1

  • The World Red Cross and Red Crescent Day is observed every year on 8 May. The day aims to celebrate the principles of the International Red Cross and Red Crescent Movement, to reduce the suffering of people and enabling them to lead a dignified life with independence, humanity, impartiality, universality, unity and neutrality.
  • Theme 2021 World Red Cross and Red Crescent Day: ‘Unstoppable’.
  • The day also marks the anniversary of the birth of Henry Dunant (8 May 1828), who was the founder of the International Committee of the Red Cross (ICRC). He was the recipient of the first Nobel Peace Prize.

Important takeaways for all competitive exams:

  • President of the ICRC: Peter Maurer.
  • Headquarters of ICRC: Geneva, Switzerland.

7. World Thalassemia Day: 08 May

08th May 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam_120.1

  • World Thalassemia Day is celebrated on May 8 every year to commemorate Thalassemia victims and to encourage those who struggle to live with the disease.
  • The theme for 2021 World Thalassemia Day is “Addressing Health Inequalities Across the Global Thalassaemia Community”.
  • Thalassemia is an inherited blood disorder that is characterised by less haemoglobin and lesser than normal blood cells. A person suffering from thalassemia has at least one of the parents as a carrier of the disease.

8. World Migratory Bird Day: 08 May

08th May 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam_130.1

  • World Migratory Bird Day 2021 is observed globally on 8 May. The aim of the day is to raise awareness of migratory birds and the importance of international cooperation to conserve them.
  • “Sing, Fly, Soar – Like a Bird!” is the theme of this year’s World Migratory Bird Day.
  • The 2021 World Migratory Bird Day theme is an invitation to people everywhere to connect and re-connect with nature by actively listening to – and watching birds – wherever they are.
  • At the same time, the theme appeals to people around the world to use their own voices and creativity to express their shared appreciation of birds and nature.

9. Time of Remembrance and Reconciliation for Those Who Lost Their Lives during the 2nd World War

08th May 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam_140.1

  • Every year during May 8-9, the United Nations marks the Time of Remembrance and reconciliation for those who lost their lives during the Second World War.
  • The day pays tribute to all the victims of the Second World War. This year is the 76th Anniversary of World War II.
  • The day was declared in 2004 as was commemorated by the United Nations since then. However, the UN urged the NGOs, its member countries and other organizations to join the commemoration of the day through a resolution that was passed in 2010.
  • The date, however, is not the official end of the second world war. This is because, Japan did not surrender till August 15, 1945.

Important takeaways for all competitive exams:

  • Secretary-General of the United Nations: Antonio Guterres.
  • The United Nations (UN) is an organization between countries established on 24 October 1945 to promote international cooperation.

Obituaries News

10. Senior Journalist Shesh Narayan Singh Passes Away of Covid-19

08th May 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam_150.1

  • Veteran senior journalist Shesh Narayan Singh has passed away while undergoing treatment for COVID-19. He was 70.
  • A columnist, political commentator and an expert on foreign policy, Shesh Narain Singh had a career spanning over two decades.

11. Veteran Music Composer Vanraj Bhatia Passes Away

08th May 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam_160.1

  • The veteran Music Composer Vanraj Bhatia, who was the best-known composer of Western classical music in India, has passed away after a brief illness. His work ranged from composing music for advertisement films, feature films, mainstream films, television shows, documentaries etc.
  • Bhatia won the National Film Award for Best Music Direction for the television film Tamas (1988), the Sangeet Natak Akademi Award for Creative and Experimental Music (1989) and India’s fourth-highest civilian honour, the Padma Shri (2012).

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