Current Affairs 5th April 2019 | Daily GK Update

Dear Aspirants,
The General Awareness Section plays an important role in scoring well above cut off marks in any competitive exam. The Banking Awareness and Static Awareness questions asked in the General Awareness Section are based on Current Affairs mainly. So you need to prepare well this section to score good marks. Here is the Daily GK Update to get you acquainted with the top events that made the headlines today!!


National News

1. 7th Foreign Office Consultations Between India and Italy Held In Delhi

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i. The 7th Foreign Office consultations between India and Italy were held in New Delhi. The Indian side was led by Secretary (West), Ministry of External Affairs, A. Gitesh Sarma. 
ii. These consultations were aimed to provide an opportunity to review the follow-up actions taken after the visit of Italian Prime Minister Giuseppe Conte in October 2018 as well as the entire range of bilateral relations.
Static/Current Takeaways Important For LIC AAO Mains Exam:
  • Italy Capital: Rome, Currency: Euro.

2. BSNL Gets Licence For WiFi On Flights

i. State-owned telecom service provider Bharatiya Sanchar Nigam Limited (BSNL) has received a licence from the Department of Telecommunications to provide Internet and mobile services on flights. 
ii. BSNL and its satellite partner, Inmarsat, will be able to offer in-flight connectivity to airlines.

3. BSE, India INX Become First Indian Exchanges To Sign MoU With Moscow Exchange

i. BSE (earlier known as Bombay Stock Exchange) and India International Exchange (India INX) have signed a memorandum of understanding with Moscow Exchange (MOEX) to connect investor community and companies in both countries besides allowing a capital formation platform.
ii. BSE and India INX are the first Indian exchanges to enter into the MoU with Moscow exchange. The exchange companies have agreed to the secondment of senior personnel to enhance understanding of activities in each other’s market.
Static/Current Takeaways Important for LIC AAO Exam:
  • BSE MD & CEO: Ashishkumar Chauhan, MOEX CEO: Alexander Afanasiev.
4. BIS and IIT-Delhi Inks MoU On Standardisation and Conformity Assessment

i. The Bureau of Indian Standards (BIS) has inked an MoU with the Indian Institute of Technology, Delhi (IIT-D) to collaborate in the field of standardisation and conformity assessment. 
ii. According to the MoU, IIT Delhi will provide infrastructure support for research and development projects of relevance to standardisation and BIS will provide financial support to IIT Delhi for projects.

    Static/Current Takeaways Important for LIC AAO Exam:
    • BIS is the National Standard Body of India established under the BIS Act 2016.
    • Surina Rajan is the Director General of BIS.
    • Bureau of Indian standards (BIS) came into existence, through an act of parliament dated 26 November 1986, on 1 April 1987.
    • BIS has its Headquarters at New Delhi and its 05 Regional Offices (ROs) are at Kolkata (Eastern), Chennai (Southern), Mumbai (Western), Chandigarh (Northern) and Delhi (Central).
    5. India Inks MoU To Set Up Agriculture, Rural Development Institute In Malawi

    i. India has signed an MoU with the National Bank for Agriculture and Rural Development Consultancy Service (NABCONS) for setting up the India-Africa Institute of Agriculture and Rural Development (IAIARD) in Malawi, a landlocked country in southeastern Africa.
    ii. Ministry of External Affairs signed with NABCONS for setting up IAIARD, an attempt to complement the efforts of the Government of India to enhance capacity in the areas of agro-financing and entrepreneurship development for African countries.
    Static/Current Takeaways Important For LIC AAO Mains Exam:
    • Malawi Capital: Lilongwe, Currency: Malawian kwacha.


    6. CS Rajan Appointed MD of IL&FS
    i. CS Rajan has been appointed Managing Director while Vineet Nayyar named as Executive Vice-Chairman of Infrastructure Leasing & Financial Services (IL&FS). 
    ii. Rest of the new board comprises of Bijay Kumar as the deputy managing director and GC Chaturvedi, Nand Kishore, Malini Shankar, and N Srinivasan as non-executive directors.
    Banking/Business/Economy News

    7. Paytm Money Receives SEBI Approval To Start Stock Broking Services

    i. The Securities and Exchange Board of India (SEBI) has given approval to Paytm Money the investment and wealth management platform of the mobile payments company to start offering broking services. 
    ii. It had applied for the licence in October 2018. Paytm Money has also received membership of NSE and BSE.
    8. Karnataka Bank Signs Pact With Bharti AXA For Insurance Products

    i. Karnataka Bank has entered into an MoU with Bharti AXA Life Insurance Company to distribute the latter’s life insurance products. 
    ii. The bank will be able to provide a wide choice of life insurance products to its customers across 836 branches, supported by the products of Bharti AXA Life Insurance Company. This is the third such tie-up by the bank after PNB MetLife Life Insurance Company and LIC of India. 
    Static/Current Takeaways Important For LIC AAO Mains Exam:
    • Mahabaleshwara MS is the Managing Director and Chief Executive Officer of Karnataka Bank.
    • Headquarters in: Mangalore.
    9. RBI Tweaks LCR Norms To Boost Liquidity 

    i. In a bid to further improve the cash position of banks, RBI has tweaked Liquidity Coverage Ratio (LCR) norms to provide an additional 2% window to lenders. 
    ii. As per RBI Governor Shaktikanta Das, this move will harmonise the liquidity requirements of banks and release additional money for lending.

    Static/Current Takeaways Important For LIC AAO Mains Exam:

    • RBI 25th Governor: Shaktikant Das, Headquarters: Mumbai, Founded: 1 April 1935, Kolkata. 
    • LCR indicates the proportion of highly liquid assets held by banks to ensure their ability to meet short-term obligations. 
    10. Fitch keeps India’s rating unchanged at BBB

    i. Rating agency Fitch retained India’s sovereign rating at ‘BBB-‘, the lowest investment grade, with a stable outlook for the 13th straight year.
    ii. Fitch expects growth of 6.8% in current fiscal 19-20 and 7.1% in the next fiscal 20-21.

    Static/Current Takeaways Important For LIC AAO Mains Exam:

    • Fitch Headquarters- New York CEO- Paul Taylor, Founded-1914.  

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