12th May 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

Here is the Daily GK Update of 12th May 2021 covering the following news headlines: Har Ghar Jal, Mayflower 400, IREDA, International Nurses Day, National Asset Reconstruction Company, Jana Small Finance 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 12th May 2021 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

International News

1. K P Sharma Oli loses vote of confidence in House of Representatives

  • Nepal Prime Minister K P Sharma Oli has lost the vote of confidence in the House of Representatives.
  • K P Sharma Oli got 93 votes in his favour while 124 voted against him. In the 275-member House of Representatives, he required at least 136 Votes to win the trust vote in the lower of the House of Representatives.
  • After the NCP (Nationalist Congress Party) withdrew its support from the government, PM Oli faced a vote of confidence.
  • In January, K P Sharma Oli was expelled from the primary membership of the Nepal Communist Party for his decision to dissolve the Parliament.

Important takeaways for all competitive exams:

  • Nepal capital is Kathmandu and the currency is Nepalese Rupees.
  • President of Nepal: Bidya Devi Bhandari.

State News

2. Puducherry becomes ‘Har Ghar Jal’ UT

  • Puducherry has achieved the target of 100% piped water connection in rural areas under the Jal Jeevan Mission (JJM). Earlier, Goa, Telangana and Andaman & Nicobar Islands have provided tap water supply to every rural home under Jal Jeevan Mission.
  • So, Puducherry is the fourth State/UT to provide assured tap water supply to every rural home under Jal Jeevan Mission.
  • Jal Jeevan Mission is a flagship programme of the Union Government. It was announced in August 2019. It aims to provide a tap water connection to every rural household of the country by 2024.

Important takeaways for all competitive exams:

  •  Chief Minister of Puducherry: N Rangasamy.

Appointments News

3. Padmakumar Nair Appointed As CEO Of National Asset Reconstruction Company

  • Padmakumar M Nair has been appointed as the CEO of the proposed National Asset Reconstruction Company Ltd. Presently Padmakumar is the Chief General Manager of Stressed Assets Resolution Group at SBI.
  • National Asset Reconstruction Company Ltd. is a proposed bad bank for taking over stressed assets of lenders and was announced by Finance Minister Nirmala Sitharaman in the budget for 2021-22 to consolidate and take over existing stressed assets of lenders and undertake their resolution.
  • Bad bank refers to a financial institution that takes over the bad assets of lenders and undertakes resolution.
  • National Asset Reconstruction Company Ltd (NARCL) will pay up to 15 per cent of the agreed value for the loans in cash and the remaining 85 per cent would be government-guaranteed security receipts.

Economy News

4. Moody’s Projects India’s GDP Forecast for FY22 to 9.3%

  • The rating agency Moody’s has cut the gross domestic product (GDP) forecast of India for FY22 (01 April 2021-31 March 2022) to 9.3 per cent. Earlier this rate was projected at 13.7 per cent.
  • The downward revision in GDP estimates is due to the second wave of Covid infections across the country, which have triggered localised lockdowns and mobility curbs.

5. Nomura Revises GDP Growth Estimate of India in FY22 to 10.8%

  • Nomura has cut the GDP growth estimate of India for the current 2021-22 fiscal (FY22) to 10.8 per cent from the earlier projection of 12.6 per cent.
  • The cut in the GDP rate is due to the impact of the second wave-induced lockdowns. Nomura is a Japanese brokerage having its headquarter in Tokyo.

6. United Nations: India Projected To Grow At 10.1% In 2022

  • The United Nations has projected that the Indian economy would grow at 10.1 per cent in the calendar year 2022, nearly double the 5.9 per cent growth forecast for the country in the January report.
  • But cautioned that the growth outlook of 2021 was “highly fragile” as the country was the “new hotbed of the pandemic.”
  • The mid-year update said that India will register a 7.5-per cent growth rate in the calendar year 2021, after an estimated contraction of 6.8 per cent in 2020.

Important takeaways for all competitive exams:

  • United Nations Headquarters in New York, USA.
  • Mr Antonio Guterres is the Secretary-General of the United Nations.

Banking News

7. Jana Small Finance Bank launches ‘I choose my number’ feature

  • Jana Small Finance Bank has announced the launch of the “I choose my number” feature for all its customers across India.
  • This new feature gives the bank’s existing and new customers the option to select their favourite numbers as their savings or current account number.
  • The bank will allow its customers to choose their favourite numbers as the last 10 digits of their bank account, savings or current.
  • The allocation of the account number chosen by the customer will be subject to the availability of the requested number.
  • This added feature will help customers relate and connect to the bank more closely as they choose auspicious or lucky numbers.

Important takeaways for all competitive exams:

  • The tagline of Jana Small Finance Bank: ‘Paise Ki Kadar’;
  • MD and CEO of Jana Small Finance Bank: Ajay Kanwal;
  • Jana Small Finance Bank Founded: 24 July 2006;
  • Jana Small Finance Bank Headquarters Location: Bengaluru.

Defence News

8. Indian and Indonesian navies conduct exercise in Arabian sea

  • The Indian and Indonesian Navies conducted Passage Exercise (PASSEX) in the southern Arabian Sea with a focus on further improving their interoperability. The exercise was aimed at improving interoperability and understanding between both the friendly navies.
  • From the Indian Navy, INS Sharda, an Offshore Patrol Vessel (OPV) with a Chetak helicopter participated in the exercise.
  • From the Indonesian Navy, KRI Sultan Hasanudin, a 90m Corvette took part in the exercise.
  • PASSEXes are regularly conducted by IN with units of Friendly Foreign Countries. The last PASSEX between IN and the Indonesian Navy was conducted on 13 Mar 21 between INS Kalpeni, IN Dornier and KRI Sultan Iskandar Muda.

Important takeaways for all competitive exams:

  • Indonesia President: Joko Widodo;
  • Indonesia Capital: Jakarta;
  • Indonesia Currency: Indonesian Rupiah;
  • Chief of Naval Staff (CNS): Admiral Karambir Singh;
  • Integrated Headquarters of Ministry of Defence (Navy): New Delhi.

Awards News

9. IREDA conferred with Green Urja Award

  • Indian Renewable Energy Development Agency Ltd (IREDA) has been conferred with the “Green Urja Award” for being the Leading Public Institution in the Financing Institution for Renewable Energy this year by the Indian Chamber of Commerce (ICC).
  • IREDA gets the award for the pivotal and developmental role it plays in Green Energy Financing.
  • The award recognises our immense contribution to the development of the Renewable Energy Sector in line with the Hon’ble Prime Minister’s vision of Atma Nirbhar Bharat.

Important takeaways for all competitive exams:

  • IREDA Headquarters location: New Delhi;
  • IREDA Founded: 11 March 1987.

Sports News

10. New Zealand wicketkeeper BJ Watling to retire after World Test Championship

  • New Zealand wicketkeeper-batsman BJ Watling has announced he would be retiring from international cricket after the three Tests, including the World Test Championship final against India, on their upcoming England tour.
  • Watling has played 73 Tests, 28 ODIs and 5 T20Is for the BlackCaps.
  • Watling became just the 9th wicketkeeper to hit a double hundred and the first to hit a double against England when he did so in Bay Oval in 2019.
  • Watling has been involved in two 350-plus stands, one with Brendon McCullum in 2014 against India and the other with Kane Williamson the following year.

Important takeaways for all competitive exams: 

  • Prime minister of New Zealand: Jacinda Ardern.
  • Capital of New Zealand: Wellington.
  • The currency of New Zealand: New Zealand dollar.

Important Days

11. International Nurses Day observed globally on 12 May

  • International Nurse Day is observed globally on 12 May every year. This day is observed to commemorate the birth anniversary of Florence Nightingale.
  • She was also known as Lady with the Lamp. She was the founder of modern nursing and was a British social reformer and statistician.
  • The theme of 2021 International Nurses Day is ‘Nurses: A Voice to Lead – A vision for future healthcare’.
  • Florence Nightingale was put in charge of nursing British and allied soldiers in Turkey during the Crimean War.
  • She is renowned for setting up the Nightingale School of Nursing, at St. Thomas’ Hospital in London (opened 1860) in order to formalize nursing education. She was the first woman awarded the Order of Merit (1907).

Important takeaways for all competitive exams:

  • International Council of Nurse’s headquarters: Geneva, Switzerland.
  • International Council of Nurses founded: 1899.
  • International Council of Nurses President: Annette Kennedy.

Obituaries News

15. Kerala’s Oldest Serving MLA KR Gouri Amma Passes Away at 102

  • The senior-most communist leader of Kerala, KR Gouri Amma, who was the first Revenue Minister in the first communist ministry of the state in 1957, has passed away due to age-related ailments. She was 102.
  • She was the second longest-serving MLA in Kerala Legislative Assembly and also the last surviving member of the first Kerala government. After the split of the Communist Party in 1964, K. R.
  • She joined the newly formed Communist Party of India (Marxist). She formed and headed the political party Janathipathiya Samrakshana Samithy (JSS) in 1994 after her ouster from CPI (M).
  • She was the driving force behind the historic Land Reforms Bill in Kerala. She had won 13 assembly elections, out of the total 17 contested.

Miscellaneous News

13. Mayflower 400: World’s First Unmanned Vessel To Navigate Across Atlantic

  • World’s First Unmanned Vessel named “Mayflower 400” is set to Navigate Across the Atlantic. It has been built by the marine research organization ProMare in collaboration with IBM. It will begin its transatlantic voyage on May 15, 2021, to track aquatic mammals, analyze plastic in the water, and study marine pollution.
  • Mayflower 400 is a completely autonomous ship. It is a 15-m-long trimaran that weighs 9 tons. It is powered by Artificial Intelligence and the Sun’s energy via solar panels.
  • ProMare invested $1 million along with global contributions in the form of technology from India, the United States, and Switzerland to build the ship.

Important takeaways for all competitive exams:

  • IBM Chief Executive Officer(CEO): Arvind Krishna;
  • IBM Headquarters: Armonk, USA.

Check More GK Updates Here

12th May Current Affairs 2021 | Current Affairs Today | Daily Current Affairs 2021

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