Current Affairs 06th 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. Here is the Daily GK Update to get you acquainted with the top events that made the headlines today!!

Current Affairs 06th March 2018: Daily GK Update

National News

1. Conrad Sangma Takes Oath as New CM of Meghalaya

i. National People’s Party President Conrad Sangma takes oath as the Chief Minister of Meghalaya.
ii. Meghalaya threw up a fractured mandate recently. The Congress, which has been in power in the state for the last 10 years, has won 21 seats.

Static/Current Takeaways Important for Exams-
  • Conrad Sangma is currently Member of Parliament, Lok Sabha from Tura Parliamentary constituency.
  • Mr Sangma was the state's youngest Finance Minister in 2008.
  • Meghalaya Capital- Shillong, Governor- Ganga Prasad.

2. Smriti Irani Inaugurated FICCI Frames 2018 in Mumbai

i. The Union Minister for Information & Broadcasting and Textiles, Smriti Zubin Irani inaugurated the FICCI Frames 2018, in Mumbai. She has also released the FICCI-EY Media & Entertainment Report 2018 named 'Re-imagining India's M&E Sector'.
ii. As per the report, the Indian M&E sector hit Rs 1.5 trillion ($22.7 billion) in 2017, growth of around 13% over 2016. With its current trajectory, it is expected to cross Rs 2 trillion ($31 billion) by 2020, at a CAGR of 11.6%.

Static/Current Takeaways Important for Exams-
  • FICCI stands for Federation of Indian Chambers of Commerce and Industry.
  • President of FICCI- Rashesh Shah.

3. International Yoga Festival Held in Rishikesh

i. Uttarakhand Chief Minister Trivendra Singh Rawat inaugurated the week-long 29th annual, world-famous International Yoga Festival (IYF) in Rishikesh's Parmarth Niketan.
ii. The IYF offers daily classes from 4 a.m. until 9:30 p.m. with more than 80 revered saints, yogacharyas, presenters and experts from nearly 20 countries around the world.

4. Biplab Deb to be Tripura's New Chief Minister

i. The Bharatiya Janata Party has named the party' State president Biplab Kumar Deb as the chief ministerial candidate for Tripura. He will replace Manik Sarkar. Jishnu Devvarma has been named for Deputy Chief Minister.
ii. The decision was announced after the meeting of BJP Legislature Party in Agartala. The swearing-in ceremony is likely to be held on March 8.

Static/Current Takeaways Important for Exams-
  • Tripura Capital- Agartala, Governor- Tathagata Roy.

5. India's 1st Helicopter Taxi Service Launched in Bengaluru

i. India's first helicopter taxi service was launched in Bengaluru to fly passengers from Kempegowda International Airport to Electronic City.
ii. The service is expected to reduce the time taken to cover the distance from 2 hours to 15 minutes. The helicopter will seat up to six people apart from the pilot and the service will cost Rs3,500 plus GST.

6. Rs. 5600 crore Sanctioned Under Swadesh Darshan Scheme and Rs. 687.92 crore Under PRASHAD Scheme

i. A total amount of Rs. 5638.87 crore was sanctioned with the release of Rs. 2148.17 crore since 2014-15 till date under the Swadesh Darshan Scheme of Ministry of Tourism. Under the Swadesh Darshan scheme, thirteen thematic circuits have been identified for development.
ii. Meanwhile, under the PRASHAD scheme, 23 projects have been sanctioned to 15 States for a total amount of Rs.687.92 crore with the release of Rs.241.28 crore since 2015-16 till date. The objective of the ‘National Mission on Pilgrimage Rejuvenation and Spiritual, Heritage Augmentation Drive (PRASHAD) is of holistic development of identified pilgrimage and heritage destination.

Static/Current Takeaways Important for Exams-
  • K. J. Alphons is the Union Minister of State (I/C) for Tourism.

International News

7. Indian Military Ranked 4th Strongest in World, USA Tops

i. Out of 133 countries, India is ranked fourth on a global index for its military strength, only the United States, Russia and China are ranked above India on the list, according to the latest report of the Global Firepower index 2017.
ii. Neighbouring Pakistan is ranked 13th. India maintained its position above France in the top five military powers in the world.

8. Marshall Islands 1st Country to Launch Own Cryptocurrency as Legal Tender

i. The Marshall Islands is creating its own digital currency in a bid to raise money. In doing so it becomes the first country in the world to recognize a cryptocurrency as legal tender.
ii. The small Pacific Island nation passed the Sovereign Currency Act to create the ‘sovereign’, or SOV. The cryptocurrency will have equal status with the US dollar and, unlike many cryptocurrencies, users will have to reveal their identity in order to use SOV.

Static/Current Takeaways Important for Exams-
  • Capital of Marshall Island- Majuro, Currency- United States Dollar.


Banking News 

9. RBI Slaps Penalty on Axis Bank and Indian Overseas Bank

i. The Reserve Bank of India (RBI) has imposed a penalty of Rs 3 crore on private sector Axis Bank for violation of non-performing asset (NPA) classification norms, and Rs 2 crore on state-run Indian Overseas Bank (IOB) for not complying with the Know Your Customer (KYC) regulations.
ii. A statutory inspection of Axis Bank, with reference to its financial position, revealed "violations of various regulations issued by RBI in the assessment of NPAs", or bad loans.

Static/Current Takeaways Important for Exams-
  • Axis Bank CEO- Shikha Sharma, Headquarter- Mumbai.
  • MD & CEO of IOB- R. Subramaniakumar, Headquarters- Chennai.

10. RBI to Conduct Additional Repo Operations to Provide Liquidity Support to Banks

i. According to the Reserve Bank of India, it will conduct additional variable rate repo operations for longer tenors up to 31 days every Tuesday in the month of March 2018 for Rs 25,000 crore each to provide additional liquidity support to banks.
ii. What this means is that the central bank is ready to provide liquidity aggregating Rs 1 lakh crore to the banking system in the current month. 

Static/Current Takeaways Important for Exams-
  • Dr Urjit Patel is the 24th Governor of RBI.
  • RBI Headquarters in Mumbai.

Sports News

11. MS Dhoni Becomes Brand Ambassador Of Gaming Platform Dream 11

i. Mahendra Singh Dhoni has become a brand ambassador of gaming platform Dream11.
ii. Currently, the gaming platform has a user base of 2 crore sports fans playing "fantasy cricket, football, kabaddi and NBA".

Obituaries

12. Veteran Actor Shammi Passes Away

i. Veteran Bollywood actor, who was fondly called 'Shammi aunty' by many in the film fraternity passed away at the age of 89. Born as Nargis Rabadi she has appeared in over 100 films.
ii. She was well-known for her work in television series like Dekh Bhai Dekh, Zabaan Sambhal Ke, and Shriman Shrimati.


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