17th November 2020 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

Here is the daily GK update of 17th November 2020 covering the following news headlines: Chief Minister of Bihar, Enforcement Directorate, Punjab National Bank, SBM 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 the banking terms, current affairs news, etc. So, here is the GK update of 17th November 2020 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

State News

1. Nitish Kumar sworn-in as Chief Minister of Bihar for 7th term

  • The Chief of Janata Dal (United), Nitish Kumar has taken an oath as the Chief Minister of Bihar and he will begin his 7th term on 16th November 2020.
  • Bihar Governor Phagu Chauhan administered the oath of office and secrecy to Mr Kumar at Raj Bhavan in Patna.
  • BJP legislature party leader Tarkishore Prasad and Deputy leader Renu Devi have been made the new Deputy Chief Ministers.
  • 14 other ministers were also sworn in along with Mr Kumar. Out of them, seven are from BJP, five from JD (U) and one each from Vikassheel Insaan Party( VIP) and Hindustani Awam Morcha (HAM).

Appointments News

2. ED Director SK Mishra’s tenure extended by one year

  • The Union government has extended the tenure of Enforcement Directorate (ED) Director Sanjay Kumar Mishra by a year after modifying his appointment order that was issued in 2018.
  • His tenure was to end next week as the ED director’s post comes with a fixed term of two years.
  • As per an order issued by the Department of Revenue under the Union finance ministry on Friday, the 2018 order for appointment of Mishra has been modified.
  • “The President of India is pleased to approve the modification in the earlier order dated November 19, 2018, appointing Shri Sanjay Kumar Mishra as director of enforcement in the Enforcement Directorate.

Banking News

3. RBI imposes Rs 1 crore penalty on Punjab National Bank

  • The Reserve Bank of India has imposed a penalty of Rs 1 crore on Punjab National Bank for violating the Payment and Settlement Systems Act, 2007.
  • Punjab National Bank was operating a bilateral ATM-sharing arrangement with Druk PNB Bank Ltd., Bhutan, since April 2010 without prior approval or authorisation from India’s banking regulator.
  • RBI imposed the Rs 1 crore penalty for “contravention of nature referred to in Section 26 (6) of the Payment and Settlement Systems Act, 2007 (PSS Act).”

Important takeaways for all competitive exams:

  • Punjab National Bank Headquarters: New Delhi.
  • Punjab National Bank MD and CEO: S. S. Mallikarjuna Rao.
  • Punjab National Bank Founded: 19 May 1894, Lahore, Pakistan.

4. SBM Bank India set to launch a neo banking platform

  • SBM Bank India, the wholly-owned subsidiary of State Bank of Mauritius has partnered with Fintech PayNearby to launch a neo banking platform.
  • Both firms signed a Memorandum of Understanding (MoU) to build an “open banking” network towards delivering basic banking solutions as well as advanced financial services, to their customers.
  • The partnership would enable the Bank to offer a complete suite of digital and assisted banking solutions through PayNearby’s network of micro-enterprise and retail touchpoints.
  • The deployment of the banking module will be done in a phased manner and will work seamlessly with the existing platforms at PayNearby outlets and touchpoints.
  • SBM Bank India was the first foreign bank in India to obtain a banking licence from the Reserve Bank of India to operate as a Wholly Owned Subsidiary in January 2019.

Important takeaways for all competitive exams:

  • SBM Bank (India) Limited Headquarters: Mumbai, Maharashtra.
  • SBM Bank (India) Limited MD and CEO: Sidharth Rath.
  • SBM Bank (India) Limited Commenced Operations– 1st December 2018.
  • SBM Bank (India) Limited Tagline: We make banking convenient for you.

Business News

5. HDFC Bank, IndusInd in ‘red flag’ list on nearing foreign investment cap

  • HDFC Bank & IndusInd Bank have been put in the ‘red flag’ list, a system used for monitoring foreign portfolio investor (FPI) limits.
  • A listed company enters the list when the available legroom for overseas investment is less than 3% of the permissible limit.
  • FPIs can invest up to 74% in both HDFC Bank and IndusInd Bank.
  • The current FPI shareholding in case of HDFC Bank is 71.3 per cent, while that of IndusInd Bank is 73. 1 per cent.
  • Besides these two, Novartis India and Procter & Gamble Hygiene and Health Care are the only other companies in the red-flag list.

Awards News

6. Dr Susanta Kar Honoured with Prof. A N Bhaduri Memorial Lecture Award-2020

  • Dr Susanta Kar, Senior Scientist, Molecular Parasitology and Immunology, Council of Scientific & Industrial Research- Central Drug Research Institute (CSIR-CDRI) was honoured with “Prof. A N Bhaduri Memorial Lecture Award 2020” by Society of Biological Chemists (India), Bengaluru.
  • The award is given to him for his contribution towards defining the survival tactics of Leishmania Donovani.
  • Leishmania Donovani is a protozoan parasite that infects the macrophages and the causative agent of visceral leishmaniasis (Kala-Azar).

Science and Technology

7. SpaceX launches 4 astronauts into space

  • SpaceX has launched Four Astronauts (3 Americans, 1 Japanese) to the International Space Station on the first full-fledged taxi flight for NASA (National Aeronautics and Space Administration) by a private company.
  • They were launched by Falcon Rocket from the Kennedy Space Center.
  • The capsule has been named as “Resilience”. The crew was led by Commander Mike Hopkins, Shannon Walker, Victor Glover (First Black Astronaut on a long-term space station) mission and Japan’s Soichi Noguchi (First person in 40 years to launch on three types of spacecraft).

Obituaries News

8. Japanese Nobel-prize-winning Masatoshi Koshiba passes away

  • Physicist Masatoshi Koshiba, who shared 2002 Nobel prize for the detection of cosmic neutrinos, passed away.
  • Koshiba’s most famous work involved detecting neutrinos from a distant supernova explosion using a vast detector based in a mine in central Japan.
  • Koshiba, a distinguished professor at the University of Tokyo. Koshiba devised the construction of giant underground chambers to detect neutrinos, elusive particles that stream from the sun.
  • Neutrinos offer a unique view of the sun’s inner workings because they are produced in its heart by the same process that causes the sun to shine.
  • His student, Takaaki Kajita, won the Nobel Prize in physics in 2015 for research at the Super-Kamiokande facility that found neutrinos have mass.

9. Former Pondicherry Lt Guv Chandrawati passes away

  • Former Lt Governor of Pondicherry, Chandrawati passed away. She has a number of 1st to her credit as she was the 1st Member of Parliament (1977), the 1st MLA, 1st minister (1964-66 and 1972-74) & 1st leader of Opposition in the Haryana assembly (1982-85).
  • Chandrawati had also served as the president of the Janata Party from 1977 to 1979.

Miscellaneous News

10. PM Narendra Modi unveils Swami Vivekananda’s statue on JNU

  • Prime Minister Narendra Modi has unveiled a statue of Swami Vivekananda in Jawaharlal Nehru University Campus, New Delhi through video conferencing.
  • It took renowned sculptor Naresh Kumawat seven months to complete this statue of Swami Vivekananda on the JNU campus.
  • Located about 300 metres from a statue of India’s first prime minister, the statue of Swami Vivekananda is about three feet taller than that of Jawaharlal Nehru.
  • The event was also attended by Union Minister for Education Ramesh Pokhriyal Nishank and JNU vice-chancellor Jagadesh Kumar.

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16th November Current Affairs 2020 | Current Affairs Today | Daily Current Affairs 2020

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