Current Affairs 01st February 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. Apart from the GA Section, an excellent knowledge of current news also helps you deal with the PI (Personal Interview) more efficiently so you do not give a mumble jumble answer to the interviewee's simple questions. Here is the Daily GK Update to get you acquainted with the top events that made the headlines today!!

Current Affairs01st February 2018: Daily GK Update

National News

1. Union Budget 2018-19: Complete Analysis

Budget 2018 Takeaways-
i. As per the FM in the Union Budget, India is expected to become the fifth largest economy very soon.
ii. The Growth rate is expected between 7.2-7.5% in the second half of 2017-18.
iii. Exports are expected to grow 15% in 2018.

2. India Slips to 42nd Place on EIU Democracy Index, Norway Tops

i. India has slipped to 42nd place on an annual Global Democracy Index according to the data compiled by the Economist Intelligence Unit (EIU). India has moved down from 32nd place last year.
The top 5 Countries in the list are- 
  1. Norway, 
  2. Iceland, 
  3. Sweden,
  4. New Zealand and
  5. Denmark.
ii. The index ranks 165 independent states. The list has been divided into four broad categories- full democracy, flawed democracy, hybrid regime and authoritarian regime. North Korea is ranked the lowest at 167th, while Syria is a notch better at 166th place.

Banking/Business/Economy News

3. FY16 GDP Growth Revised up to 8.2%, FY17 Unchanged at 7.1%- CSO

i. The Central Statistics Office (CSO) revised the gross domestic product (GDP) growth rate for 2015-16 to 8.2% from the earlier estimates of 8% and kept the 2016-17 growth unchanged at 7.1%. The real GDP or GDP at constant (2011-12) prices for the years 2016-17 and 2015-16 stand at Rs121.96 trillion and Rs113.86 trillion respectively, according to the CSO statement.
ii. In terms of real gross value added (GVA), it stated that the GVA at constant (2011-12) basic prices grew 7.1% in 2016- 17, as against a growth of 8.1% in 2015-16. 

Static/Current Takeaways Important for Syndicate Bank PO 2018 Exam-
  • Mr Arun Jaitley is the present Finance Minister of India.

4. World Bank Commits $100 million to Boost Tamil Nadu's Rural Economy

i. The government and World Bank signed a $100 million (about Rs 6,40 crore) loan agreement to promote rural economy in selected blocks of Tamil Nadu across 26 districts, benefiting over 4 lakh people.
ii. The funding aimed at promoting rural enterprises, facilitate their access to finance and create employment opportunities for youth particularly women.

Static/Current Takeaways Important for Syndicate Bank PO 2018 Exam-
  • Jim Yong Kim is the 12th President of the World Bank Group.
  • World Bank Headquarters in Washington DC, USA.


5. Lt. Gen Anil Chauhan Takes Charge as DGMO of Indian Army

i. Lt. Gen Anil Chauhan took charge as the new Director General of Military Operations (DGMO) of the Indian Army. He succeeds Lt General A K Bhatt.
ii. Lt Gen Chauhan has held several important posts in the Army and is known for his expertise in counter-insurgency operations in Jammu and Kashmir and the Northeast.

Static/Current Takeaways Important for Syndicate Bank PO 2018 Exam-
  • General Bipin Rawat is the present Chief of Army Staff.


6. World’s Oldest Man Passes Away at 113

i. The world's oldest man Francisco Nunez Olivera has died just over a month after celebrating his 113th birthday. 
ii. He passed away in Spain where he had lived throughout his life. He was born on December 13, 1904.

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