Current Affairs 27th July 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 27th July 2018: Daily GK Update

National News

1. Parliament Passes Fugitive Economic Offenders Bill 2018 

i. The Parliament approved a legislation to help the government bring back fugitives involved in white-collar crimes to stand trial in India. The fugitive Economic Offenders Bill, 2018 will become law after the President’s assent and will empower the government to seize both local and overseas assets of alleged offenders, such as Vijay Mallya, Nirav Modi and Mehul Choksi.
ii. This will help the government confiscate properties of fugitives even before they are convicted. The bill also provides for confiscation of benami properties. ED will be the apex agency to implement the law. 

2. IRDAI Forms Panel to Review 3rd Party Motor Cover Costs 

i. Insurance regulator Insurance Regulatory and Development Authority of India (IRDAI) has constituted a 16-member committee to examine motor third party insurance pricing aspects and make recommendations on the premium rates for 2019-20. 
ii. IRDAI Member P.J. Joseph has been appointed as the Chairman of the committee. This is for the first time IRDAI has formed such a committee. 

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-
  • IRDAI stands for Insurance Regulatory and Development Authority of India.
  • Headquarters of IRDAI is in Hyderabad.
  • Subhash Chandra Khuntia is Chairman of IRDAI. 

3. 6th India-UK Science & Innovation Council Meeting Held in New Delhi 

i. The 6th India-UK Science & Innovation Council (SIC) meeting held in New Delhi discussed a range of issues on S&T cooperation between the two countries.
ii. Dr. Harsh Vardhan, Minister of Science & Technology, Earth Sciences & Environment, Forests and Climate Change, India and Mr. Sam Gyimah, Minister for Universities, Science, Research and Innovation, UK led the Indian and UK delegations respectively. 


4. Odisha CM Inaugurates Rs 300 crore Irrigation Dam Project 

i. Odisha Chief Minister Naveen Patnaik inaugurated the Rs 300 crore Rukura Medium Irrigation Dam project in Sundargarh district. 
ii. This project will irrigate 5,800 hectares of the agricultural field. Mr Patnaik stated that his promises to provide irrigation to an additional 10 lakh hectare of land ahead of 2014 elections, will be fulfilled by 2019. 

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018- 
  • Ganeshi Lal is the present Governor of  Odisha. 
  • Hirakud Dam built over Mahanadi River is situated in Odisha.

Ranks and Reports


5. Indian Women's Compound Archery Team Reaches World Rank 1 

i. Indian women's compound archery team created history by becoming the world rank one side in the category. The team is six points ahead of the Chinese Taipei team. 
ii. With the contribution from each member, the women's compound archery team jumped to the top spot with 342.6 points, with the Chinese Taipei team standing second with a difference of six points.


6. 4 Indian-Origin Names In List of Fortune's 40 Young Influential People 

i. Four persons of India-origin, including three women, have been named by Fortune among 40 of the most influential and inspiring young people in business under the age of 40. Instagram Cofounder and CEO Kevin Systrom and Facebook founder Mark Zuckerberg, both 34, are tied for first place on the Fortune '40 Under 40' list. 
ii. The 4 people (with Rank) from India-Origin in the list are-
1. Dhivya Suryadevara (4th), CFO of General Motors
2. Anjali Sud (14th), CEO of Vimeo
3. Baiju Bhatt (24th), Cofounder and Co-CEO of Robinhood
4. Anu Duggal (32nd), founding partner of Female Founders Fund.


7. Karnataka Tops In Renewable Energy: IEEFA Report 

i. According to the US-based Institute for Energy Economics and Financial Analysis (IEEFA) report, Karnataka is the new national leader in renewable energy generation. It has surpassed Tamil Nadu that had for quite some time been India's best renewable market.
ii. Karnataka has a sum of 12.3 gigawatts (GW) of renewable capacity installed till March 2018. IEEFA's report was titled as "Karnataka's Electricity Sector Transformation"

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018- 
  • Karnataka CM- HD Kumaraswamy, Governor- Vajubhai Vala. 

International News

8. BRICS Summit 2018 Concludes: Johannesburg Declaration Adopted 

i. The heads of state and government of all five BRICS nations including Brazil, Russia, India, China and South Africa convened for the 10th BRICS Summit in Johannesburg, South Africa. The theme of BRICS Summit 2018 was ‘BRICS in Africa: Collaboration for inclusive growth and shared prosperity in the 4th Industrial Revolution'. 
ii. The summit saw the BRICS leaders come together and discuss various international and regional issues of common concern and adopted the 'Johannesburg Declaration' by consensus.
iii. The declaration comes as the United States and China remain deadlocked in a trade war over tariffs. 

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018- 
  • BRICS is made up of China, Brazil, Russia, India and South Africa.
  • In December 2010, China, as the Chair, invited South Africa to join BRIC and attend the Summit in Sanya, China. 
  • The 1st BRIC Summit was held in June 2009 in Yekaterinburg, Russia. 

Business News


9. HCL Technologies displaces Wipro as India’s third largest IT services firm 

i. HCL Technologies Ltd surpassed Wipro Ltd to become India’s third-biggest software services firm in the three months, marking the first change in the pecking order of the country’s $167 billion information technology (IT) outsourcing industry in six years. 
ii. Noida-based HCL Technologies announced that its dollar revenue increased 0.8% to $2.05 billion in the quarter ended 30 June from the preceding three months. Bengaluru-based Wipro’s dollar revenue declined 1.7% sequentially to $2.03 billion in the first quarter.


Awards

10. Ramon Magsaysay Award Winners 2018 Announced: Complete List of Winners 

i. The Ramon Magsaysay Award is an annual award established to perpetuate former Philippine President Ramon Magsaysay's example of integrity in governance, courageous service to the people, and pragmatic idealism within a democratic society.
ii. Two Indians, Bharat Vatwani (for Restoring Health & Dignity to troubled lives) and Sonam Wangchuk (for Harnessing nature, culture & education) made the country proud as their names figured in the list of 2018 Ramon Magsaysay Award winners.
Find The Complete List of Winners Here