Current Affairs 4th and 5th November 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 4th and 5th November 2018: Daily GK Update

National News

1. India, Zimbabwe Sign 6 Agreements In Various Fields


i. During the visit of Vice President of India M Venkaiah Naidu, India has agreed for the deputation of experts in five fields to assist Zimbabwe. Around 6 agreements in various fields were signed in areas including Mining, Visa waiver, Broadcasting and Culture. 
ii. India will extend Line of credits of more than 350 million US Dollars to Zimbabwe for two power projects and a drinking water project. India will give about 3 million US dollar grant for upgradation of Indo-Zim Technology centre. 

Static/Current Takeaways Important For IBPS PO Mains Exam 2018:
  • President of Zimbabwe: Emmerson Mnangagwa, Capital: Harare.

2. National Ayurveda Day: 5 November


i. Ministry of AYUSH observes Ayurveda Day every year on Dhanawantari Jayanti (Dhanteras). The theme of 2018 Ayurveda Day was:  “Ayurveda for Public health”.
ii. This year Ayurveda Day is being observed on 5th November 2018. On this occasion, Ministry has organized a “National Seminar on Entrepreneurship and Business Development in Ayurveda” in association with NITI Aayog at Dr. Ambedkar International centre, Janapth, New Delhi. 


3. 18th Indian Ocean Rim Association Council of Ministers Meeting Held in Durban


i. The 18th Indian Ocean Rim Association (IORA) Council of Ministers Meeting was held in Durban, South Africa. Gen.(Dr.) VK Singh (Retd.), Minister of State for External Affairs, attended the IORA Council of Ministers Meeting.
ii. This meeting took place during the on-going celebrations of the 150th year of the birth anniversary of Mahatma Gandhi and the 100th birth anniversary of Nelson Mandela.

Static/Current Takeaways Important For IBPS PO Mains Exam 2018: 
  • The Indian Ocean Rim Association is an inter-governmental organisation which was established on 7 March 1997.
  • IORA Headquarters in Ebene, Mauritius.

Sports News

4. Subhankar Dey Wins SaarLorLux Open Badminton Tournament 


i. In Badminton, Subhankar Dey has won the SaarLorLux Open at Saarbrucken in Germany. 

ii. In the summit clash, the unseeded Indian defeated fifth-placed Rajiv Ouseph of Britain, in straight games, in what was the first encounter between the two shuttlers.


5. Simone Biles Sets World Record, Wins 13th World Championship Gold 


i. Simone Biles made history by picking up her record 13th career gold medal at the world gymnastics championships in Doha, Qatar. 
ii. Simone Biles became the first ever gymnast to win 13 world championship gold medals. She hails from the USA. 


Banking/Business News

6. Reliance receives India’s 1st LC Payment via Blockchain



i. In a first for India, HSBC Holdings Plc has executed a trade finance transaction using blockchain for an export by Reliance Industries Ltd (RIL) to US-based Tricon Energy. The blockchain-enabled letter of credit (LC) transaction substantially reduced the time taken for such deals.
ii. The use of blockchain offers significant potential to reduce the timelines involved in the exchange of export documentation from the extant 7-10 days to less than a day. 


7. RBI Allows Banks To Provide Partial Credit Enhancement of NBFC Bonds


i. The Reserve Bank of India (RBI) allowed banks to provide partial credit enhancement (PCE) to bonds issued by systemically important non-deposit taking non-banking financial companies (NBFCs) registered with the RBI and housing finance companies (HFCs) registered with the National Housing Bank.
ii. The move is aimed at enhancing the credit rating of the bonds and enabling these NBFCs to access funds from the bond market on better terms. 

Static/Current Takeaways Important For IBPS PO Mains Exam 2018: 
  • Urjit Patel- 24th Governor of RBI, Headquarters- Mumbai, Established on- 1st April 1935, in Kolkata. 
  • PCE, which was introduced in 2015, will help NBFCs and HFCs raise money from insurance and provident or pension funds who invest only in highly-rated instruments.

Obituaries


8.1971 War Hero M.P. Awati Passes Away

i. Vice-Admiral M.P. Awati (retd.), who commanded a naval unit of the Eastern Fleet in the 1971 India-Pakistan war and whose actions led to the destruction of an enemy submarine, passed away.
ii. Vice-Admiral Awati was 91 years old. He was the commanding officer of INS Kamorta during the 1971 Bangladesh Liberation War. He was awarded the Vir Chakra for his leadership and gallantry.



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