Current Affairs 17th 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 17th March 2018: Daily GK Update

National News

1. NITI Aayog Released SATH-E Roadmaps

i. NITI Aayog released comprehensive roadmaps and detailed timelines for its initiative ‘Sustainable Action for Transforming Human Capital in Education (SATH-E)’ project. Amitabh Kant, CEO, NITI Aayog released the forward-looking blueprints.
ii. These roadmaps, which operate between 2018 to 2020, lay out detailed interventions which will be taken by the three participating States- Jharkhand, Madhya Pradesh and Odisha – aiming to become ‘Role Model States’ in school education. 

Static/Current Takeaways Important for Exams-
  • NITI- National Institution for Transforming India.
  • NITI Aayog Vice-Chairman- Rajiv Kumar, CEO- Amitabh Kant.

2. LaQshya Program Launched to Improve Quality of Maternity Care

i. The Ministry of Health and Family Welfare launched 'LaQshya program' aimed at improving quality of maternity care in labour room and maternity Operation Theatre (OT).
ii. ‘LaQshya’ will reduce maternal and newborn morbidity and mortality, improve quality of care during delivery. The Program aims at implementing ‘fast-track’ interventions for achieving tangible results within 18 months.

Static/Current Takeaways Important for Exams-
  • JP Nadda is the present Union Health and Family Welfare Minister of India.

3. Lok Sabha Passes Gratuity Amendment Bill

i. Lok Sabha has passed gratuity amendment bill. The Payment of Gratuity (Amendment) Bill, 2017 aims at increasing the upper ceiling of the gratuity from the present 10 lakh rupees to 20 lakh rupees for employees in the private sector and in Public Sector Undertakings at par with Central Government employees.
ii. The House also passed the Specific Relief (Amendment) Bill, 2017 which seeks to grant a party the right to seek damages from the other side in case of a breach of a business contract and to reduce the discretion of courts in such matters.

International News

4. WEF Energy Transition Index 2018: India Ranks 78th, Sweden Tops

i. India has been ranked at 78th among 114 countries on the World Economic Forum’s (WEF) energy transition index. The list was topped by Sweden.
ii. The report titled 'Fostering Effective Energy Transition' ranks countries on how well they are able to balance energy security and access to environmental sustainability and affordability.
iii. The Top 3 Countries in the List are-
1. Sweden, 
2. Norway 
3. Switzerland 

5. Xi Jinping Re-Elected China President, Wang Vice President

i. Xi Jinping was re-elected as President for a second five-year tenure by China's rubber-stamp parliament. The Parliament has recently allowed Xi to have a life-long tenure.
ii. Xi was also elected as the head of the powerful Central Military Commission, the overall high command of the Chinese military.  He became president in 2013. Wang Qishan has been elected as the new Vice President of China.

Static/Current Takeaways Important for Exams-
  • China Capital- Beijing, Currency- Renminbi.

Economy/Banking News

6. Muthoot Finance Ties Up With Global IME Bank

i. Muthoot Finance, the flagship company of Muthoot Group has tied up with Global IME Bank to expand its money remittance services between Indo Nepal Corridor. Muthoot Finance is the only NBFC to extend the money transfer services from India to Nepal.
ii. In FY16, Muthoot Finance had collaborated with Nepal based Prabhu Bank for money transfer business wherein the company completed 2.2 lakh transactions worth Rs 4.69 billion. 

Static/Current Takeaways Important for Exams-
  • George Alexander Muthoot is the Managing Director Muthoot Finance.

7. SEBI Raises Currency Derivative Trade Limit to $100 Million

i. Capital markets regulator SEBI raised the exposure limit under exchange-traded currency derivatives trading for residents and FPIs to USD 100 million across all currency pairs involving the Indian rupee.
ii. The move will help entities engaged in forex transactions to maintain their currency risks in a better manner.

Static/Current Takeaways Important for Exam-
  • SEBI- Securities and Exchange Board of India.
  • SEBI Chairman- Ajay Tyagi, Headquarters- Mumbai.

8. India and ADB Signed $120 Million Loan to Improve Rail Infrastructure

i. India and the Asian Development Bank (ADB) signed a $120 million loan agreement for completion of works for double-tracking and electrification of railways tracks along high-density corridors to improve the operational efficiency of Indian railways.
ii. ADB loan has a 20-year term, including a grace period of 5 years, an annual interest rate determined in accordance with ADB’s London interbank offered rate (LIBOR)-based lending facility.

Static/Current Takeaways Important for Exams- 
  • President of ADB- Takehiko Nakao, ADB Headquarters- Manila, Philippines, Opened on- 19th December 1966.


9. Nepal Cricket Team Gains ODI Status

i. After Afghanistan’s rapid rise to prominence in limited-overs cricket, Nepal took a massive step forward after achieving One-day International status, after their victory over Papua New Guinea.
ii. Nepal defeated the Pacific nation by six wickets in a playoff game in the ICC World Cup Qualifier being held in Zimbabwe, achieving the distinction for the first time.

Static/Current Takeaways Important for Exams-
  • Prime Minister of Nepal- Khadga Prasad Oli.
  • Currency of Nepal- Nepalese rupee.
  • Kathmandu is the capital city of Nepal.

10. Sri Lanka Pays Tribute to J Dalmiya With Book 'A Tribute to Jagu'

i. Sri Lanka Cricket (SLC) paid tribute to former BCCI president Jagmohan Dalmiya with a book titled, 'A Tribute to Jagu'.
ii. The cricket association felicitated Dalmiya posthumously as the greatest non-Sri Lankan contributor to Sri Lankan cricket.

Read GK Update in Hindi Here

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