Table of Contents
Here is the daily GK update of 3rd November 2020 covering the following news headlines: Typhoon Goni, Miniature train, IBM, ICICI Lombard, AAI, Adani group.
Daily GK updates are incorporated with the important news that made the current affairs headlines for banking or other competitive exams. Daily GK Update is the complete bag of the important news that held all day long. One should have complete knowledge about the banking terms, current affairs news, etc. So, here is the GK update of 3rd November 2020 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.
International News
1. Super Typhoon Goni hits the Philippines
- Super Typhoon Goni, claimed as the world’s strongest typhoon of 2020 has hit the south of the Philippines’ main island of Luzon.
- Goni is one of the strongest storms to hit the Philippines since 2013’s Haiyan, which killed more than 6,300 people.
Important takeaways for all competitive exams:
- Philippines President: Rodrigo Duterte Trending.
- Philippines Capital: Manila.
- Philippines Currency: Philippine peso.
State News
2. India’s 1st solar-powered miniature train launched in Kerala
- India’s first of its kind solar energy-driven miniature train was inaugurated at the Veli Tourist Village, Kerala by Chief Minister Pinarayi Vijayan.
- The train, which would be an attraction for children especially, was part of a string of projects totally worth Rs 60 crore taken up to elevate the facilities at the panoramic destination to international standards.
Important takeaways for all competitive exams:
- Chief Minister of Kerala: Pinarayi Vijayan; Governor: Arif Mohammad Khan.
Agreements
3. IBM, Indian Oil Corporation collaborate for digital services
- Tech giant IBM stated it has collaborated with Indian Oil Corporation Ltd (IOCL) to transform the latter’s customer experience using digital tools. Around 12,400 IOCL distributors covering about 130 million consumers can now use the IndianOil One mobile app and portal, developed by IBM Services.
- The IndianOil One mobile app and portal are part of Indian Oil’s Project ePIC, an integrated platform for Customer Relationship Management (CRM) and Distribution Management System (DMS).
Important takeaways for all competitive exams:
- IBM CEO: Arvind Krishna.
- IBM Headquarters: Armonk, New York, United States.
- Indian Oil Corporation Ltd Chairperson: Shrikant Madhav Vaidya.
- Indian Oil Corporation Ltd Headquarters: New Delhi.
- Indian Oil Corporation Ltd Founded: 30 June 1959.
4. ICICI Lombard, FreePaycard to offer health insurance solutions
- ICICI Lombard in partnership with Freepaycard, an online pre-paid card trading platform, has launched Group Safeguard Insurance.
- This strategic partnership will make the bite-sized health insurance solutions, designed specifically for Freepaycardmembers, available at its multi-category partner retail outlets.
- Freepaycard members can add these health solutions on the go while shopping for other essential goods or services.
Important takeaways for all competitive exams:
- ICICI Lombard CEO: Bhargav Dasgupta.
- ICICI Lombard Headquarters: Mumbai.
Banking News
5. RBI imposes monetary penalty on DCB Bank for rule violations
- The Reserve Bank of India (RBI) imposed monetary penalty on DCB Bank and Jio Payments Bank for various rule violations.
- The central bank has imposed a penalty of Rs 22 lakh on DCB Bank for non-compliance with certain provisions on marketing/distribution of mutual fund/insurance etc.
- The penalty has been imposed in exercise of powers vested in RBI under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
- In the case of Jio Payments Bank, the RBI imposed a penalty of Rs 1 crore for non-compliance with RBI directions on timely submission of application in the case of reappointment of Managing Director and Chief Executive Officer under Section 35B of the Banking Regulation Act, 1949 (the Act).
Important takeaways for all competitive exams:
- Governor of RBI: Shaktikanta Das.
- Deputy Governors of RBI: BP Kanungo, MK Jain, MD Patra and Rajeshwar Rao.
- Headquarters: Mumbai, Maharashtra.
Business News
6. AAI hands over Lucknow airport to Adani group
- The Airports Authority of India (AAI) has handed over the Lucknow airport to the Adani group on lease for a period of 50 years.
- Apart from this, the Adani group has taken over/will take over operations of 5 more airports. In February 2019, the Central Govt had privatised six major airports of the country namely Lucknow, Ahmedabad, Jaipur, Mangaluru, Thiruvananthapuram, and Guwahati.
- The right to run all these 6 airports has been won by Adani Group for 50 years.
- Adani group has taken over the operations of Jaipur, Guwahati and Thiruvananthapuram in September 2020, Mangaluru on October 31, 2020, Lucknow on November 02, 2020, and will take on the operations of Ahmedabad Airport on November 11, 2020.
Appointments
7. Rajiv Jalota becomes new chairman of Mumbai Port Trust
- Indian Administrative Services (IAS) officer, Rajiv Jalota has been appointed as the chairman of Mumbai Port Trust (MbPT).
- The appointment committee of the Union cabinet issued the order for the central deputation.
- The post of MbPT chairman was vacant after former chairman Sanjay Bhatia retired on July 31 and was appointed as Lokayukta of Maharashtra.
Important takeaways for all competitive exams:
- Chief Minister of Maharashtra: Uddhav Thackeray; Governor: Bhagat Singh Koshyari.
8. PVG Menon appoints as CEO of Electronics Sector Skill Council of India
- The Electronics Sector Skill Council of India (ESSCI) announced the appointment of PVG Menon as its chief executive officer.
- Menon will be responsible for overseeing the operations of ESSCI and work closely with its governing Council on strategic issues related to the growth of the electronic systems design and manufacturing (ESDM) industry in India.
- ESSCI works with industry, the National Skill Development Corporation, and the Ministry of Electronics and IT to provide both skilling and re-skilling services to the industry.
Important takeaways for all competitive exams:
- Electronics Sector Skill Council of India Headquarters: New Delhi.
Sports
9. Lewis Hamilton wins F1 Emilia Romagna Grand Prix 2020
- Lewis Hamilton (Mercedes-Great Britain) has won the Emilia Romagna Grand Prix 2020 at Autodromo Internazionale Enzo e Dino Ferrari race track, Italy.
- This was his 9th win of the season and 93rd F1 win of his career. Valtteri Bottas finished second while Daniel Ricciardo finished third. Mercedes won the seventh consecutive constructors’ title for 2020.
10. Shane Watson retires from all forms of cricket
- Australian all-rounder, Shane Watson has announced his retirement from all forms of cricket.
- The 39-year-old will hang up his boots after an illustrious career during which he won two ICC Men’s Cricket World Cups and two ICC Champions Trophy titles.
- He played 59 Tests, 190 ODIs and 58 T20Is.
Books and Authors
11. A book titled “Pandemonium: The Great Indian Banking Tragedy” by T. Bandyopadhyay
- Tamal Bandyopadhyay has authored a book titled “Pandemonium: The Great Indian Banking Tragedy” and will be released on November 09, 2020. This book, published by Roli Books, provides an understanding of the challenges and economic potential of India.
- The book “Pandemonium” accounts how many promoters had swapped equity with debt while the managements of the banks were finding a way to protect their balance sheets until the intervention of the Reserve Bank of India (RBI) against their bad loans.
- The Same issue trouble also affected the developing non-banking financial companies of India who were quick to identify the post-demonetisation easy liquidity and the reluctance of banks to lend which promoted them to borrow short to lend long.
Obituaries
12. James Bond actor Sean Connery passes away
- The Scottish actor, best known for his portrayal of James Bond, Sean Connery passed away.
- Scottish movie legend Connery, who shot to international stardom as the suave and sophisticated British agent James Bond and went on to grace the silver screen for four decades. Connery will be remembered first as British agent 007.
Miscellaneous News
13. India-Pak border to light up with 8000MW renewable park
- India’s border areas with Pakistan in Rajasthan would soon be illuminated with renewable energy.
- The state government will soon ink an MoU with National Thermal Power Corporation (NTPC) and Solar Energy Corporation of India (SECI) to establish Ultra Mega Renewal Energy Power Park.
- The park to be set up near borders areas will be of 8,000 megawatts (MW) capacity, which will comprise 4,310 MW of wind energy; 3,760 MW of solar energy and 120 MW of power from biomass. Currently, Rajasthan’s solar generation capacity is 4,883 MW.
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