Current Affairs 6th 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 6th July 2018: Daily GK Update

National News

1. Law Commission Recommends Regulating Betting 

i. The Law Commission recommended that gambling and betting on sports, including cricket, be allowed as regulated activities taxable under the direct and indirect tax regimes and used as a source for attracting foreign direct investment (FDI).
ii. The commission's report, 'Legal Framework: Gambling and Sports Betting including Cricket in India', recommends a number of changes in the law for regulating betting and generating tax revenues from it.

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-
  • Law Commission of India works under the Ministry of Law & Justice.

2. Animals Declared As ‘Legal Persons’ In Uttarakhand

i. In a first, the Uttarakhand High Court accorded the status of ‘legal person or entity’ to the animals in the state. The HC stated that "they have a distinct persona with corresponding rights, duties and liabilities of a living person."
ii. The unique status was bestowed upon the state’s animals by a division bench of judges comprising Justice Rajiv Sharma and Justice Lokpal Singh while issuing a series of directions to prevent cruelty against animals.

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-
  • In March 2017, the Uttarakhand High Court had accorded the status of 'living human entities' to the Ganga and Yamuna, the two most sacred rivers of India.
  • Uttarakhand CM- Trivendra Singh Rawat, Governor- Krishan Kant Paul.


3. ISRO Successfully Carries Out Flight Tests For Crew Escape System

i. The Indian Space Research Organisation (ISRO) successfully carried out a flight test for a newly-designed Crew Escape System. According to ISRO, the first ‘Pad Abort Test’ demonstrated the safe recovery of the crew module in case of any exigency at the launch pad.
ii. It was launched from the Satish Dhawan Space Centre at Sriharikota, Andhra Pradesh. It was the first in a series of tests to ascertain the trustworthiness and efficiency of the Crew Escape System. 

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-
  • Dr K Sivan is Chairman of ISRO.
  • ISRO stands for Indian Space Research Organization.
  • Headquarters of ISRO- Bengaluru, Karnataka.

4. Finance Ministry Keeps SSS' Interest Rates Unchanged For July-September Quarter

i. The Finance Ministry has kept the interest rates on small savings schemes, including NSC and PPF, unchanged for the July-September quarter. The move is aimed at matching the hardening interest rates in the banking sector. Interest rates for small savings schemes are notified on a quarterly basis.
ii. The Interest rates on different Small Savings schemes are as follows:
Sl.
No.
Schemes Interest rate (in %)
1. 5 yr Senior Citizen Savings Scheme (Paid Quarterly) 8.3
2. Savings Deposits 4
3. Public Provident Fund (PPF) 7.6
4. National Savings Certificate (NSC) 7.6
5. Kisan Vikas Patra (maturity in 11 months) 7.3
6. Sukanya Samriddhi Account (SSA) 8.1
7. Term Deposit (1-5 years) 6.6-7.4


5 NSG Becomes 1st Central Force To Opt for e-Ticketing Instead of Railway Warrant 

i. The National Security Guard will be the first central paramilitary force to opt for e-ticketing instead of the railway warrant under an agreement signed with the IRCTC.
ii. An MoU was signed between the Indian Railway Catering and Tourism Corporation and the NSG at the headquarters of the special force (New Delhi). This system will eliminate the need for carrying railway warrants by the NSG personnel.

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-
  • NSG is Federal Contingency World Class Zero Error Force to deal with anti-terrorist activities in all its manifestations.
  • It was established in 1984.
  • Sudeep Lakhtakia is the present Director General of NSG.

Banking News

6. YES Bank Gets SEBI Nod To Launch Mutual Fund Business

i. Private lender YES Bank announced that it has received final regulatory approval from the Securities & Exchange Board of India (SEBI) to start mutual fund business.
ii. This approval is subsequent to the Reserve Bank of India's (RBI) approvalYES Asset Management (India), a wholly owned subsidiary of YES Bank, will launch fund offerings across the spectrum in both debt and equity markets over the next 6-12 months.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • Yes Bank MD and CEO- Rana Kapoor.
  • Head office of Yes Bank- Mumbai.
  • YES BANK is India’s fifth largest Private Sector Bank (PSB).

7. ICICI Bank's Mortgage Portfolio Crosses Rs1.5-trillion

i. ICICI Bank has announced that its mortgage loan portfolio crossed the Rs 1.5-trillion milestone, making it the largest private player in the segment, and the lender is targeting to grow it to Rs 2 trillion by FY20.
ii. At Rs 1.5 trillion, the mortgage loan-book is half of the bank's overall retail loan portfolio of around Rs 3 trillion.

Static/Current Takeaways Important for SBI PO/Clerk Exam 2018-
  • ICICI Bank stands for Industrial Credit and Investment Corporation of India.
  • Headquarters of ICICI Bank: Mumbai.
  • Sandeep Bakhshi is the present whole-time director and chief operating officer (COO) of ICICI Bank.

8. 25 Countries In Global Banks’ ‘High Risk’ List

i. China, UAE, Cyprus and significantly, Mauritius, along with 21other countries have been tagged as “high-risk jurisdictions” by global banks acting as custodians for foreign funds which comprise the largest group of investors in the Indian stock market.
ii. Large investors and beneficial owners of these funds entering India through these high-risk jurisdictions will face close scrutiny while non-resident Indians and persons of Indian origin will run into new hurdles in participating in funds set up in these countries for trading on Indian exchanges.
iii. SEBI - registered foreign portfolio funds invest in India through 56 countries. Of these, 25 are now considered ‘high risk’.

Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • SEBI- Securities and Exchange Board of India.
  • SEBI Chairman- Ajay Tyagi, Headquarters- Mumbai.

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