Current Affairs 03rd January 2018: Daily GK Update

Dear Aspirants,

Study Daily Current Affairs from Daily GK Update on Bankersadda and Adda247 app, and stay updated as well as prepare for General Awareness section of bank exams. It’s time to gear up your preparations for Syndicate Bank PO, IBPS Clerk Mains and with the daily dose of current affairs, you can easily prepare G.A and score well.
National News

1. Centre Unveiled Contours of ‘Electoral Bonds’ Scheme
i. The Centre unveiled the contours of the ‘Electoral Bonds’ scheme, which seeks to ensure the flow of clean money to political parties, without revealing the donors’ names.
ii. As per the Finance Minister Arun Jaitley, the electoral bonds will be a bearer instrument in the nature of a Promissory Note and an interest-free banking instrument. A citizen of India or a body incorporated in India will be eligible to purchase the bond from specified branches of the State Bank of India.
iii. The bonds can be purchased for any value in multiples of Rs1,000; Rs10,000; Rs1 lakh; Rs10 lakh; and Rs1 crore.
2. Cabinet Nod to India, UK Pact to Improve Public Transport
i. The Cabinet has approved the signing and implementation of the MoU between Ministry of Road Transport and Highways and ‘Transport for London’ to improve public transport in the country.

ii. The MoU is aimed at improving the overall public transport system, improve passenger services and promote the use of high capacity buses in India. 

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-

  • ‘Transport for London’ is a statutory body established under the Greater London Authority Act, 1999 (UK) to improve public transport in India.
3. GAIL Commissions India’s Second-Largest Rooftop Solar Plant in UP
i. State-owned gas utility GAIL India Ltd has commissioned the country’s second-largest rooftop solar power plant in Uttar Pradesh.
ii. The firm has installed a 5.76 MWp (Mega Watt peak) solar plant at its petrochemical complex at Pata in Uttar Pradesh. The plant over the roofs of warehouses covers a total area of 65,000 square meters.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • Tata Power Solar commissioned a 12 MW solar rooftop project in Amritsar, Punjab which is India’s largest rooftop solar plant.
  • GAIL- Gas Authority of India Limited.
4. Karnataka to Hold ‘Largest B2B Travel Event’ in the Country
i. The Karnataka government announced that ‘Karnataka International Travel Expo’ (KITE) will be held from February 28, billing it as the “largest” B2B travel event in the country. 

ii.  The aim of the event is to project Karnataka globally and attract tourist footfall, with emphasis on promoting the state’s wildlife, luxury and adventure destinations, historical monuments and UNESCO world heritage sites.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • Karnataka CM- Siddaramaiah, Governor- Vajubhai Vala.
5. 171st Araadhanai Music Festival Begins in Tamil Nadu
i. The 171st Araadhanai Music Festival of one of the Trinities of Carnatic music Saint Thyagaraja begins in Thiruvaiyaru, Tamil Nadu. The festival was inaugurated by Governor Banwarilal Purohit.

ii. The main function of the festival is the choral singing of Thyagaraja’s five kritis in Ghana ragas. Over 1,000 musicians from all over the world are expected to pay homage to Saint Thygaraja during the course of the five-day festival.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • Tamil Nadu CM- Edappadi K. Palaniswami, Governor- Banwarilal Purohit.
International News

6. Six Countries Enter UN Security Council
i. Equatorial Guinea, Ivory Coast, Kuwait, Peru, Poland and the Netherlands formally joined the ranks of the non-permanent members of the United Nations Security Council to make a difference.

ii. The UN Security Council has 15 members, including five with permanent seats who have the power to veto resolutions – Britain, China, France, Russia and the United States. The six countries who left the UN Security Council recently are Egypt, Italy, Japan, Senegal, Ukraine and Uruguay.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • The UN Security Council held its first session on 17 January 1946 in London. 

7. UNESCO Enters Turkey’s Endangered ‘Bird Language’ in Intangible Cultural Heritage List
i. The unusual and very efficient whistle language commonly called “bird language” used as a means of communication by villagers in remote northern Turkey entered the UNESCO list of Intangible Cultural Heritage.

ii. UNESCO has accepted the “bird language” of Black Sea villagers as an endangered part of world heritage in need of urgent protection.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • Turkey Capital- Ankara, Currency- Turkish lira, President- Recep Tayyip Erdogan.

8. Pakistan State Bank Allows use of Chinese Currency Yuan for Bilateral Trade & Investment Activities
i. Pakistan has allowed Chinese currency Yuan for exports and financing transactions. According to Pakistan, external affairs ministry, both public and private sector enterprises of Pakistan and China are free to choose Yuan for bilateral trade and investment activities.

ii. As per current foreign exchange regulations, Chinese Yuan is an approved foreign currency for denominating foreign currency transactions in Pakistan.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • Pakistan Capital- Islamabad, Currency- Pakistani rupee.
  • Chinese Capital– Beijing, President- Xi Jinping.
Banking/ Economy/ Business News

9. India’s GDP Growth at 6.5% in FY18, will Accelerate to 7.6% in FY20: HSBC
i. As per the HSBC report, India’s growth rate is expected to accelerate at around 6.5 percent in 2017-18 and is likely to improve further to 7.6 percent by 2019-20.

ii. The result is expected as key sectors would revive from disruptions related to the implementation of GST and demonetisation.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • HSBC Headquarters in London, United Kingdom.
  • HSBC was established in 1865 to finance trade between Europe and Asia.
  • Present CEO of HSBC- Stuart Gulliver.

10. No Charges on Debit Card Transactions up to Rs 2,000: Finance Ministry
i. Customers will not have to pay any transaction charges for payments through debit card, BHIM app and other payment made for up to Rs 2,000.

ii. Union Cabinet had recently approved a proposal that government will bear the merchant discount rate (MDR) charges on transactions up to Rs 2,000 made through debit cards, BHIM UPI or Aadhaar-enabled payment systems to promote digital transactions.

iii. The merchant discount rate (MDR) will be borne by the government for two years with effect from January 1, 2018 by reimbursing the same to banks.

11. HDFC Bank Partners with Rajasthan Govt. to Promote Startup Culture
i. HDFC Bank has announced a partnership with Rajasthan Government to promote and nurture startups in the state.
ii. Under this partnership, HDFC Bank will team up with the state government to provide end-to-end solutions like current accounts, credit cards and other solutions to startups under its SmartUp programme
Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • HDFC Bank- India’s largest private bank by market capitalization
  • HDFC Bank Chairman- Aditya Puri.
  • Reserve Bank of India labelled HDFC Bank as ‘domestic systematically important bank’—in other words, ‘too big to fail’.

12. SBI, NABARD Tie up to Promote Joint Liability Groups in Bengal
i. State Bank of India and NABARD have signed an agreement with five NGOs in Bengal for the promotion of 2,500 joint liability groups (JLGs) in select districts of the State.

ii. JLGs are informal groups of 4-10 members engaged in similar economic activities and willing to jointly undertake the responsibility to repay loans taken by the group from a bank.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-

  • NABARD-National Bank for Agriculture and Rural Development.
  • NABARD Chairman- Harsh Kumar Bhanwala, Headquarters- Mumbai.

13. RBI Bonds Scheme Being Replaced by 7.75% Savings Bonds Scheme
i. According to the Finance Ministry, RBI Bonds Scheme has not been closed but the interest rate on such papers lowered to 7.75 percent. The 8 percent Savings Bonds Scheme, also known as RBI Bonds Scheme, is not being closed but is being replaced by 7.75 percent Savings Bonds Scheme.

ii. These taxable bonds are meant for individual other than Non-Resident Indians with no maximum limit for investment.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • Arun Jaitley is the Present Finance Minister of India.
  • R K Shanmukhan Chetty was the first Finance Minister of Independent India.

Sports News
14. G Sathiyan Becomes India’s Highest-Ranked Player in Latest ITTF Rankings
i. G Sathiyan has become India’s highest-ranked player in the latest International Table Tennis Federation (ITTF) rankings. He surpasses his compatriot the legendary Sharath Kamal.

ii. The current ranking of Sathiyan is 49. As for the women, Manika Batra is topping the world chart among Indians at 62th.

Static/Current Takeaways Important for IBPS Clerk Mains 2017 Exam-
  • Thomas Weikert Germany is the present President of ITTF.

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