Current Affairs 13th and 14th May 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 13th and 14th May 2018: Daily GK Update

National News

1.UNDP to Set Up Skill Development Centre in Hyderabad

i. Aimed at empowering vulnerable and marginalised women by imparting skills training, the United Nations Development Programme (UNDP) has announced to set up a skill development centre at 'Bharosa,' an integrated support centre for distressed women and children in Hyderabad.
ii. 'Bharosa,' an initiative of Hyderabad City Police, is a state-of-the-art centre to support women and children who are victims of violence.

2. Army Finalises Rs 15,000 crore Ammunition Production Project

i. Indian Army has finalised a mega 15,000 crore rupees project under which a range of ammunition for its critical weapons and tanks will be produced indigenously. 11 private firms would be involved in the ambitious project.
ii. The immediate aim of the project is to create an inventory for all major weapons to enable the forces to fight a 30-day war while the long-term objective is to cut dependence on imports.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • General Bipin Rawat is the present Chief of Army Staff.
  • Field Marshal KM Cariappa was the First Indian Commander-in-Chief of the Indian Army.

3. Par Panel to Look into Black Money Recovery, Performance of PSBs

i. A parliamentary panel headed by veteran BJP leader Murali Manohar Joshi decided to study the recovery of black money and performance of public sector banks (PSBs) among a host of subjects. The 30-member Estimates Committee, in a meeting, decided to study a host of subjects related to various ministries in the year 2018-19.
ii. As per the memorandum of the committee, the panel will look into the import of uranium for nuclear plants, mining activities and environment, upgrading of India Post offices and the drought situation in the country among other matters.

4. High-Level Committee Approves Central Assistance of Rs1,161 crores To 4 States and a UT

i. The Union Home Minister Shri Rajnath Singh chaired a meeting of the High Level Committee (HLC) in New Delhi for Central Assistance to the States/ UT of Assam (affected by floods during 2017-18), Himachal Pradesh (affected by floods/ landslides during 2017-18), Sikkim (affected by floods/ landslides during 2017-18), Lakshadweep (affected by cyclone Ockhi during 2017) and Rajasthan (affected by Kharif drought during 2017).
ii. The HLC approved assistance of Rs 480.87 crore in respect of state of Assam. The HLC also approved assistance from NDRF amounting to Rs 84.60 crore for the state of Himachal Pradesh, Rs 67.40 crore for the state of Sikkim, Rs 2.16 crore for the UT of Lakshadweep and Rs 526.14 crore for the state of Rajasthan. The total assistance approved was Rs 1,161.17 crores.


5. Dharmendra Pradhan, UAE Minister Flag Off 1st Consignment of ADNOC Crude For India

i. Union Petroleum and Natural Gas Minister Dharmendra Pradhan and UAE Minister of State & Abu Dhabi National Oil Company (ADNOC) Group CEO Dr. Sultan Al Jaber flagged off the first consignment of 2 million barrels of ADNOC crude for Mangalore Cavern.
ii. The Petroleum and Natural Gas Minister also had an interactive session with over 250 Indian professionals, business leaders and community representatives working in the UAE. The event was organised by the Embassy of India in Abu Dhabi.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • The UAE Capital- Abu Dhabi, Currency- UAE dirham.

International News


6. Venkaiah Naidu 3-Nation Visit: Complete Highlights

i. Vice President M Venkaiah Naidu was on a five-day visit to South America's Guatemala, Peru and Panama. Bilateral trade and investments were discussed during the visit.
ii. This was the Vice President's first overseas visit after assuming office. He was be accompanied by a high-level delegation, including Minister of State for Tribal Affairs Jasvantsinh Sumanbahi Bhabhor.
Find Complete Highlights Here


7. Army Chief Begins 4-day Visit to Sri Lanka

i. General Bipin Rawat, Chief of the Army Staff is on an official visit to Sri Lanka for four days. During the visit, he will hold talks with top political and military leadership of Sri Lanka and explore new areas of military-to-military cooperation between the ground forces of the two countries.
ii. The visit assumes significance in light of India’s persistent efforts to strengthen the existing bonds of friendship and military cooperation based on mutual interests and understanding.

8. India, Nepal agree to expand their partnership for socio-economic development

i. India and Nepal have agreed to expand their partnership for socio-economic development on the basis of principles of equality, trust, respect and mutual benefit.
ii. In a joint statement issued after Prime Minister Narendra Modi's two-day visit to Nepal. Mr. Modi and his Nepalese counterpart KP Sharma Oli emphasized the need for the regular convening of bilateral mechanisms to review the overall state of bilateral relations.

Static/Current Takeaways Important for Dena Bank PO Exam 2018-
  • Kathmandu is the capital city of Nepal.
  • Bidhya Devi Bhandari is present President of Nepal.

Ranks and Reports


9. Fitch predicts 7.3% growth rate of India in 2018-19

i. Credit rating agency Fitch has stated that India's economic growth will accelerate to 7.3% in the current financial year (2018-19) and 7.5% in the next fiscal (2019-20).
ii. In its second-quarter Sovereign Credit Overview for Asia Pacific region, Fitch stated the growth rate will accelerate as money supply has recovered to its pre-demonetisation level and disruptions related to the rollout of GST have diminished.


10. India, Largest Remittance-Receiving Country in World

i. India has become the largest remittance-receiving country in the world, with migrant workers from the country sending home 69 billion US dollars in 2017. According to the report ‘RemitSCOPE – Remittance markets and opportunities – Asia and the Pacific’, remittances to the Asia-Pacific region amounted to 256 billion dollars in 2017.
ii. India with 69 billion Dollars, China with 64 billion Dollars and the Philippines with 33 billion Dollars are the three largest remittance-receiving countries in the world in 2017. Worldwide, an estimated 40% of the total value of remittances goes to rural areas.

Awards


11 Lata Mangeshkar Conferred With Swara Mauli Award

i. Melody queen Lata Mangeshkar was honoured with the Swara Mauli title by spiritual guru Vidya Narsimha Bharati Swami. Mangeshkar, 88, was conferred with the award at her residence in Mumbai.
ii. Her sisters Asha Bhosle and Usha Mangeshkar and brother Hridaynath Mangeshkar were also present.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • Mangeshkar was awarded the Bharat Ratna, the highest civilian award in the country, in 2001 - the second vocalist, after MS Subbulakshmi to receive the honour.


Banking News


12. ICBC Launches China's 1st India-Dedicated Investment Fund

i. A state-run Chinese bank, Industrial and Commercial Bank of China (ICBC) has launched the country's first India-dedicated publicly offered investment fund, saying the Indian market offers the best opportunity for Chinese investors due to the prospects of double-digit growth.
ii. The fund, named the ICBC Credit Suisse India Market Fund, will invest in exchange-traded funds listed on more than 20 exchanges in Europe and the US that are based on the Indian market. It is China's first publicly offered fund for investing in India.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • Industrial and Commercial Bank of China (ICBC) was established on 1 January 1984.
  • Gu Shu is the President of ICBC.
  • It Headquarters in Beijing, China.

13. Fino Payments Bank Launched Digital Suite

i. Fino Payments Bank launched a suite of digital products that can be accessed online and through mobile phones with the focus to build the transaction platform. Fino had launched its mobile banking app BPay in 2017.
ii. The latest initiatives include Unified Payments Interface (UPI), BHIM app - using which customers can access UPI and make P2P payments, net banking, digi savings account which can be opened with only Aadhaar number and PAN card and FasTag for making digital payments at toll plazas on national highways.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • Prof Mahendra Kumar Chouhan is the Chairman, Independent Director of FINO Payments Bank.
  • Rishi Gupta is the Managing Director and Chief Executive Officer of FINO Payments Bank.
  • FINO Payments Bank Limited headquarters in Mumbai, Maharashtra. 

14. Paytm Introduces Automatic Recurring Payments

i. Paytm introduced automatic recurring payments, a new feature that lets users configure the payments app to pay for periodic recurring expenses automatically.
ii. Similar to standing instructions for bank accounts, the ‘My Payments’ feature can be used for high-value payments for a variety of cases.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • Paytm Payments Bank is owned 51 percent by Paytm founder Vijay Shekhar Sharma and 49 percent by One97 Communications Limited.

Obituaries

15. Noted Lyricist, Poet, Politician Balkavi Bairagi Passes Away

i. Noted Hindi film lyricist, Nandram Das Bairagi, popularly known as Balkavi Bairagi, passed away.
ii. Bairagi, a Lok Sabha member between 1984 and 1989 and also a former Rajya Sabha MP. He was 87. He wrote several Hindi poems, among which, "Jhar gaye paat, bisar gayi tehni" is considered a gem by many Hindi poets.

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