Current Affairs 01st March 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 Affairs 01st March 2018: Daily GK Update

National News

1. Important Cabinet Approvals- 28th February 2018

i. The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given the following set of approvals. The important Cabinet Approvals are given as follows-
ii. The Cabinet has approved-
1. An apprised of an MoU between India and Fiji on Cooperation in Renewable Energy.
2. MoU between India and Macedonia on cooperation in the field of Health.
3. Signing of MoU between India and Jordan on Cooperation in Health Sector.
4. Signing of MoU between India and Jordan on Cooperation in the Field of Manpower.
5. Agreement between India and Jordan on Cooperation and Mutual Administrative Assistance in Customs Matters.
6. Amendments to Housing and Telephone Facilities Rules, Constituency Allowance Rules and Office Expense Allowance Rules for MPs.
7. The Trafficking of Persons (Prevention, Protection and Rehabilitation) Bill, 2018.
8. MoU between India and Jordan for mining and beneficiation of Rock Phosphate & MOP and setting up the production facility in Jordan for Phosphoric Acid/DAP/NPKFertilizers.
9. MoU between India and Vietnam on Economic and Trade Cooperation.
10. Doubling of Government guarantee from Rs 9,500 crore to Rs.19,000 crore for procurements of pulses and oilseeds at MSP under Price Support Scheme by NAFED.
11. Continuation of Prime Minister's Employment Generation Programme (PMEGP) beyond 12th Plan for three years from 2017-18 to 2019-20.

2. Union Cabinet Approves Anti-Trafficking Bill Draft

i. The apex anti-terror body National Investigation Agency (NIA) will be the nodal authority for probing cases of human trafficking after the government approved a proposal in this regard.
ii. The Union Cabinet okayed the draft Trafficking of Persons (Prevention, Protection and Rehabilitation) Bill, which also proposes a punishment of life imprisonment for repeat offenders. The draft Bill divides various offences into "trafficking" and "aggravated trafficking".

Static/Current Takeaways Important for Canara Bank PO 2018 Exam-
  • Yogesh Chander Modi is the Director General of NIA.

3. 1st Mega Food Park Inaugurated in Maharashtra

i. The first Mega Food Park in the state of Maharashtra Satara Mega Food Park Pvt. Ltd. at Village Degaon, District Satara was inaugurated by Harsimrat Kaur Badal, Union Minister of Food Processing Industries.
ii. This is the 10th Mega Food Park being operationalized in the country and the 8th operationalized during the tenure of the present government. Satara Mega Food Park has been set up in 64 acres of land at a cost of Rs. 139.30 crore.

Static/Current Takeaways Important for Canara Bank PO 2018 Exam-
  • Maharashtra CM- Devendra Fadnavis, Governor- CV Rao.

4. Union Textile Minister Smriti Irani Attends 27th IJIRA in Kolkata

i. Union Textile Minister Smriti Irani attended the 27th Technological Conference of Indian Jute Industries' Research Association (IJIRA) on Shaping the Future of Jute in Kolkata.
ii. The function was focused on the promotion of geotextiles in the northeast region. Geotextiles are absorbent fabrics which, when used in association with soil, have the ability to separate, filter, reinforce, protect or drain.

Banking/Economy News 

5. India to Grow 7.6% in 2018: Moody's

i. Moody's Investors Service estimated that India will grow 7.6% in the calendar year 2018 and 7.5% in 2019, amid signs of economic recovery from the impact of demonetisation and GST.
ii. In its global growth forecasts for 2018 and 2019, Moody’s stated the Budget for the fiscal year beginning April 1 (2018-19) includes some measures to stabilise the rural economy that was disproportionately hit by the scrapping of high denomination 500 and 1000 rupee notes.

6. India’s GDP Growth Rises to 7.2% in December Quarter

i. The Indian economy grew at a five-quarter high of 7.2% in the October-December period reflecting overall recovery due to good show by agriculture, manufacturing, construction and certain services.
ii. The economy is expected to grow at 6.6% in the current fiscal ending March 31, as per the second advanced estimates of the Central Statistics Office (CSO).
iii. The earlier estimate was 6.5%. The growth for the second quarter (July-September) has been revised upwards to 6.5%, from 6.3% estimated earlier by the CSO.

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

7. IndusInd Bank and Ripple Tie-up for Cross-Border Remittances

i. IndusInd Bank announced its partnership with Ripple (the enterprise blockchain solution for Global Payments) to facilitate payments into and out of India. With this affiliation, RippleNet can now provide instant access in emerging markets such as India, Brazil and China.
ii. In 2017, India saw a total of $65 billion move into the country and IndusInd Bank which has significant interests in cross-border remittances, plans to harness the power of Blockchain technology for facilitating global payments.

Static/Current Takeaways Important for Canara Bank PO 2018 Exam-
  • IndusInd Bank commenced operations in 1994
  • IndusInd Bank Chairman- R. Seshasayee, Headquarter- Mumbai, Owner- Hinduja Group.

Sports News

8. Tokyo Unveils Mascots for 2020 Olympics and Paralympics

i. Tokyo unveiled its long-awaited mascot for the 2020 Olympic Games: a futuristic blue-checked, doe-eyed character with pointy ears and “special powers” that was picked by schoolchildren across mascot-mad Japan.
ii. One has an athletic figure and a strong sense of justice. The other is a cherry blossom-inspired superhero.

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