Current Affairs 04th October 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 04th October 2018: Daily GK Update

National News

1. Important Cabinet Approvals: 03rd October 2018 
Important Cabinet Approvals- 04th October 2018

i. The Union Cabinet chaired by Prime Minister Narendra Modi has given the following set of approvals. The important Cabinet Approvals are given as follows-
ii. The Cabinet has approved- 
1. Redevelopment of Railway Stations by IRSDC as Nodal Agency, through simplified procedures and longer lease tenure.

2. Cabinet Hikes MSP of Rabi Crops

i. Cabinet Committee on Economic Affairs, CCEA, has increased the Minimum Support Price (MSP) for all Rabi crops for the current financial year which will be marketed in 2019-20 season. The MSP of wheat has been raised by 105 rupees per quintal,  Masur by 225 per quintal, and Gram by 220 per quintal.
ii. According to Union Minister Ravishankar Prasad, the decision is a step towards doubling the farmers' income. The decision will give additional return to the farmers of 62,635 crore rupees by way of increasing the MSP of notified crops to at least 50 per cent return over cost of production. 

3. National Khadi Festival 2018 Held in Mumbai 

i. The National Khadi Festival 2018 is being organised by Khadi and Village Industries Commission (KVIC) to promote Khadi products. 
ii. The festival was inaugurated by Union Minister for Micro Small & Medium Enterprises, Giriraj Singh in Mumbai on the occasion of Gandhi Jayanti 2018. The main objective of the festival is to promote the products of cottage industry and create awareness regarding the art of states. 

Static/Current Takeaways Important for RRB Clerk Mains Exam 2018-
  • Vinai Kumar Saxena is the present chairman of KVIC. 

4. First Regional Conference on 'Women in Detention and Access to Justice' in Shimla

i. The Bureau of Police Research and Development (BPR&D), Ministry of Home Affairs is organising the First ever Regional Conference at Shimla on 'Women in Detention and Access to Justice' in collaboration with the Prison Department, Himachal Pradesh. 
ii. The Conference was inaugurated by Shri Acharya Devvrat, the  Governor of Himachal Pradesh. Expected Outcome of the Conference will be to help in ensuring better implementation of Prison Reform and Rehabilitation Program in order to improve the conditions of Women Inmates and their Access to Justice.

Static/Current Takeaways Important for Indian Bank PO Exam 2018-
  • The Supreme Court has constituted a three-member committee headed by its former judge Justice Amitava Roy to look into the aspect of jail reforms. 

5. India and ADB sign $ 150 Million Loan Agreement to support India’s First Global Skills Park

i. Asian Development Bank (ADB) and the Government of India signed a $150 million Loan Agreement in New Delhi to establish a Global Skills Park (GSP) in Madhya Pradesh, the First Multi-Skills Park in India, to enhance the quality of Technical and Vocational Education And Training (TVET) System in the State and create a more skilled workforce.
ii. This Project will help improve the quality and relevance of the State’s TVET programs and will help impart advanced job-ready skills training of international standards that can meet the employment needs of the State’s emerging sectors.

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • The Asian Development Bank is a regional development Bank established in 1966.
  • Headquarters of ADB is in Manila, Philippines.
  • Takehiko Nakao is Present President of the Asian Development Bank. 

6. NMCG  Partnered with TSAF to Launch “Mission Gange”

i. National Mission for Clean Ganga (NMCG) has partnered with Tata Steel Adventure Foundation (TSAF) to launch a month-long rafting expedition of a team of 40 members which will be led by the first Indian woman to scale Mount Everest Ms. Bachendri Pal. 
ii. The expedition will start from Haridwar on October 5th 2018 traversing a distance of around 1500 km encompassing 8 major towns. It will conclude in Patna in Bihar.

7. Russian President Vladimir Putin In India On 2-Day Visit 

i. Russian President Vladimir Putin reached New Delhi on a two-day visit to India. He will attend the 19th India-Russia Annual Bilateral Summit in New Delhi. During the visit, President Putin will hold delegation level talks with Prime Minister Narendra Modi. 
ii. The Russian President will also address the India-Russia Business Summit and will interact with a group of talented children. 

Static/Current Takeaways Important for NIACL Mains Exam 2018- 

  • Russian Capital: Moscow, Currency: Ruble, President: Vladimir Putin. 

Important Days

8. World Animal Day: 4 October 

i. World Animal Day is celebrated at various parts of the world on 4th October to raise the status of animals in order to improve welfare standards around the globe. 
ii. World Animal Day was originated by Heinrich Zimmermann. He organized the first World Animal Day on 24 March 1925 at the Sports Palace in Berlin, Germany. 


9. Chanda Kochhar Quits As CEO of ICICI Bank 

i. Chanda Kochhar has quit as CEO of ICICI Bank with immediate effect. The private lender has appointed Sandeep Bakhshi as managing director and chief executive officer for five years, subject to regulatory approval. 
ii. In June, a panel was set up under retired Supreme Court judge Justice Srikrishna to probe allegations against Chanda Kochhar. 

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • ICICI Bank stands for Industrial Credit and Investment Corporation of India.
  • Headquarters of ICICI Bank: Mumbai.

Business News

10. RBI Allows State-Owned Oil Companies To Borrow Long Term Working Capital 

i. The Reserve Bank of India (RBI) has allowed state-owned oil companies to borrow long-term working capital from overseas. RBI relaxed the policy on borrowing up to 10 billion US dollar from the overseas by the state-owned fuel retailers. 
ii. Till now oil marketing companies including Indian Oil Corp, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd, were not allowed to raise External Commercial Borrowing (ECB) for working capital needs on a long-term basis. Now, the RBI has allowed them to raise ECB of minimum maturity of 3 or 5 years. 

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 

  • Urjit Patel- 24th Governor of RBI, Headquarters- Mumbai, Established on- 1st April 1935, in Kolkata. 


11. Swachh Survekshan Grameen Awards 2018 Announced

i. Prime Minister Narendra Modi gave awards to top Ranked State, District and State with maximum citizen participation based on the National Swachh Survekshan Grameen 2018 commissioned by Ministry of Drinking Water and Sanitation. 
ii. Haryana was ranked as the best State while Satara District of Maharashtra was ranked as the best district as per the ranking undertaken by Swachh Survekshan Grameen 2018. 
(A) Top 3 States-
1. Haryana, 
2. Gujarat, 
3. Maharashtra. 
(B) Top 3 Districts- 
1. Satara, Maharashtra, 
2. Rewari, Haryana, 

3. Pedapalli, Telangana.

Ranks and Reports

12. Mukesh Ambani Richest Indian For 11th Consecutive Year: Forbes 

i. Reliance Industries’ Chairman Mukesh Ambani has emerged as the richest Indian for the 11th consecutive year with a net worth of USD 47.3 billion, according to Forbes magazine. Ambani is also the year’s biggest gainer, adding USD 9.3 billion to his wealth amid the continuing success of his Reliance Jio broadband telco service. 
ii. As per the ‘Forbes India Rich List 2018’, Wipro Chairman Azim Premji has retained the second spot; while ArcelorMittal Chairman and CEO Lakshmi Mittal moved a place ahead to the third slot with a net worth of USD 18.3 billion.

Source- The Forbes

Static/Current Takeaways Important for Indian Bank PO Exam 2018- 
  • Forbes- American Business Magazine, Founded in- 1917.
  • Headquarters- New York City, USA.

Sports News

13. 18-Year-Old Prithvi Shaw Youngest Indian To Score Century On Test Debut 

i. Prithvi Shaw has become the youngest Indian to score a century on Test debut, achieving the feat aged 18 years and 329 days against Windies in Rajkot, Gujarat. Shaw broke the 59-year-old record set by AA Baig (20 years and 126 days). 
ii. Shaw is only the second Indian after Sachin Tendulkar to score a Test ton before turning 19. Prithvi Shaw captained India Under-19 to World Cup victory in February 2018. 

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