08th October 2020 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

Read the daily GK update of 08th October 2020. In today's GK Update we are covering the following news headlines: Startup India Showcase, Kasturi Cotton, Tsirkon hypersonic missile, Nobel Prize in Literature, Indian Air Force Day.

Here is the daily GK update of  08th October 2020 covering the following news headlines: Startup India Showcase, Kasturi Cotton, Tsirkon hypersonic missile, Nobel Prize in Literature, Indian Air Force Day.

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 the banking terms, current affairs news, etc. So, here is the GK update of 08th October 2020 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

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National News

1.GoI launches online startup platform ‘Startup India Showcase’

  • The Department for Promotion of Industry and Internal Trade (DPIIT) has launched an online discovery platform for startups called “Startup India Showcase”.
  • The main aim of this website is to make a repository of India’s most promising startups that have proved their capabilities, from across sectors such as fintech, enterprise tech, social impact, health tech, and edutech, among others.
  • The startups mentioned on the website will be handpicked by experts and will go through multiple screening and evaluation rounds.
  • The listed firms will also be considered by the government and corporate buyers as potential suppliers of goods or services.
  • Each startup will have its own profile page, with detailed information about its product and innovation, as well as video and PDF links.
  • The platform will also act as an online networking portal, by mentioning LinkedIn and Twitter pages of the founders.

Important takeaways for all competitive exams: 

  • Minister of Commerce and Industry: Piyush Goyal.

2. Smriti Irani launches first ever Brand & Logo for Indian Cotton

  • Union Minister of Textiles, Smriti Irani has launched the first-ever Brand and Logo for Indian Cotton on Second World Cotton Day through video conferencing.
  • Now India’s premium cotton would be known as ‘Kasturi Cotton’ in the world cotton trade.
  • The Kasturi Cotton brand will represent Whiteness, Brightness, Softness, Purity, Luster, Uniqueness and Indianness.

Important takeaways for all competitive exams: 

  • Chairman-Cum-Managing Director of Cotton Corporation of India: Pradeep Kumar Agarwal.
  • Cotton Corporation of India Headquarters: Mumbai, Maharashtra.
  • Cotton Corporation of India Founded: 31 July 1970.

International News

3. Russia successfully test-fires Tsirkon hypersonic missile

  • Russia successfully test-fired a Tsirkon hypersonic cruise missile in the Arctic.
  • The Missile was fired from the Admiral Gorshkov frigate in the White Sea, Russian Arctic.
  • The missile covered a distance of 450 km with the maximum altitude of its trajectory at 28 km.
  • The flight lasted 4.5 minutes and the missile reached a hypersonic speed of over Mach 8.
  • The Missile is a scramjet-powered manoeuvring anti-ship hypersonic cruise missile.

Important takeaways for all competitive exams:

  • Russia President: Vladimir Putin.
  • Russia Capital: Moscow.
  • Russia Currency: Russian Ruble.

4. Kuwait Prime Minister Sabah Al Khalid Al Sabah Resigns

  • The Kuwaiti government, headed by Prime Minister(PM) Sabah Al Khalid Al Sabah submitted its resignation to Emir Nawaf Al Ahmed Al Jaber Al Sabah in anticipation of the upcoming general elections that are due to be held in November 2020.  He took charge as the PM in 2019. 

Important takeaways for all competitive exams:

  • The emir named Sheikh Meshaal Al-Ahmed Al-Jaber Al-Sabah, currently the deputy head of the National Guard, as the crown prince of Kuwait.
  • Kuwait Capital: Kuwait City.
  • Kuwait Currency: Kuwaiti dinar.

State News

5. Gujarat govt to launch ‘Digital Seva Setu’ programme

  • The state government of Gujarat has announced a ‘Digital Seva Setu’ programme to ensure optimum utilisation of technology for public welfare in rural areas. The program has been initiated under the Centre’s BharatNet Project.
  • Under the ‘Digital Seva Setu’ program, public welfare services will be made available in all the 14,000-gram panchayats in the state by connecting village panchayats through an optical fibre network.
  • Each village panchayat will get e-gram office so that villagers will not have to go all the way to taluka or district-level offices. All the gram panchayats will be connected to the state data centre at Gandhinagar.
  • Initially, 20 services will be offered to villagers under the programme like ration cards, affidavits and certificates for widows, residence, caste, senior citizen, language-based minority, a religious minority, nomad-denotified, and income certificates at their doorstep.

Important takeaways for all competitive exams:

  • Gujarat Chief Minister: Vijay Rupani.
  • Gujarat Governor: Acharya Devvrat.

Agreement News

6. Axis Bank tie-up with Vistara to launch co-branded forex card

  • Axis Bank in partnership with India’s full-service carrier, Vistara launched a Co-Branded Forex Card, ‘Axis Bank Club Vistara Forex Card’ to cater to the needs of international travellers.
  • This is the 1st-ever collaboration by a bank and an Indian airline for a co-branded forex card.

Important takeaways for all competitive exams: 

  • Vistara Headquarters: Gurgaon, Haryana.
  • Vistara CEO: Leslie Thng.
  • Axis Bank Headquarters: Mumbai, Maharashtra.
  • Axis Bank MD and CEO: Amitabh Chaudhry.

Appointment News

7. J Venkatramu appointed MD and CEO of India Post Payments Bank

  • J Venkatramu has been appointed the managing director and chief executive officer of India Post Payments Bank (IPPB).
  • He will succeed Suresh Sethi, who served the post till March 2020.
  • Venkatramuis presently working as the chief digital officer in Equitas Small Finance Bank.
  • He has been appointed to the post of MD and CEO of IPPB for a period of three years.

Important takeaways for all competitive exams: 

  • Prime Minister Narendra Modi had launched IPPB in 2018.
  • India Post Payments Bank (IPPB) was incorporated as Payments Banking Company under Section 22 (1) of Banking Regulation Act, 1949.
  • India Post Payments Bank (IPPB) Headquarters: New Delhi.

8. GoI appoints M Rajeshwar Rao as the RBI Deputy Governor

  • The Centre has appointed M Rajeshwar Rao as the new deputy governor of the Reserve Bank of India on 7th October 2020.
  • Prior to this, M Rajeshwar Rao was an executive director at RBI.
  • He succeeds NS Vishwanathan as the central bank’s fourth deputy governor.
  • NS Vishwanathan resigned from the post in March 2020 before the completion of his term in June, citing health reasons.

Important takeaways for all competitive exams: 

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

Banking News

9. FM launches Indian Bank’s business mentoring programme ‘MSME Prerana’

  • Finance Minister, Nirmala Sitharaman has launched ”MSME Prerana”, an online business mentoring programme for MSMEs by state-run Indian Bank.
  • The programme, to be made available in local languages, is aimed at empowering entrepreneurs through skill development and capacity building workshops.

Important takeaways for all competitive exams:

  • On April 1, 2020, Allahabad Bank amalgamated with Indian Bank.
  • Indian Bank MD and CEO: Padmaja Chunduru.
  • The tagline of Indian Bank: Your Own Bank.

Schemes and Committees

10. API integration between PM SVANidhi, SBI portal launched

  • The Ministry of Housing & Urban Affairs will integrate the application programming interface (API) between SVANidhi portal and various banks to expedite loan sanctioning and disbursement process under Modi government’s PM SVANidhi scheme for nano entrepreneurs.
  • To begin with, the ministry launched the API integration between the PM SVANidhi portal and SBI’s eMudra portal.
  • Ministry would perform similar integration with other banks as well for which a consultative meeting will be held shortly.

Important takeaways for all competitive exams: 

  • Minister of State (IC) of the Ministry of Housing and Urban Affairs: Hardeep Singh Puri.

Awards News

11. Nobel Prize in Literature 2020 announced

  • The Nobel Prize in Literature for 2020 is awarded to the American poet Louise Glück “for her unmistakable poetic voice that with austere beauty makes individual existence universal”.
  • The Nobel Prize in Literature is awarded by The Swedish Academy, Stockholm, Sweden.
  • She made her debut in 1968 with Firstborn and was soon acclaimed as one of the most prominent poets in American contemporary literature.
  • She has received several prestigious awards, among them the Pulitzer Prize (1993) and the National Book Award (2014).

12. Noted Odia Poet Nityananda Nayak to receive Sarala Puraskar

  • Noted Odia poet, Nityanand Nayak will be conferred the prestigious Sarala Puraskar for his poetry work ‘Setebelaku Nathiba’, published in 2017.
  • The poet will be felicitated with a cash award of `5 lakh and a citation. Two other eminent personalities from the State – Ranjit Kumar Nag and Shyamsundar Pattanaik – will be felicitated for their contribution to fields of music and art respectively.
  • While Nag will be awarded the Ila Panda Sangeet Samman, Pattanaik would be felicitated with Ila Panda Chitrakala Samman.
  • The awards comprise a cash award of `1,50,000 and a citation.

Important Days

13. Indian Air Force Day: 08 October

  • Indian Air Force Day is celebrated every year by the Indian Air Force on 8th of October.
  • This year Indian Air Force celebrated its 88th anniversary.
  • Indian Air Force was officially established on 8 October 1932 by the British Empire as the Royal Indian Air Force.
  • The name was changed to Indian Air Force in 1950.

Important takeaways for all competitive exams: 

  • Chiefs of Air Staff: Rakesh Kumar Singh Bhadauria.


14. Former CBI director Ashwani Kumar passes away

  • Former Governor of Manipur and Nagaland, and ex-CBI Director, Ashwani Kumar passed away.
  • He was born at Nahan in Sirmaur district and joined the Indian Police Force in 1973.
  • He was allotted the Himachal Pradesh cadre and while working as the District Superintendent of Police at Shimla in 1985, he was inducted in the newly created Special Protection Group (SPG), where he worked till 1990.

Check More GK Updates Here

8th October Current Affairs 2020 | Current Affairs Today | Daily Current Affairs 2020

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