Current Affairs: Daily GK Update 04th November 2017

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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 IBPS RRB PO and with the daily dose of current affairs, you can easily prepare G.A and score well.
i. President of Armenia, Serzh Sargsyan arrived in New Delhi on a three-day visit to India. He attended the World Food India Conference 2017.
ii. Bilateral dialogue between India and Armenia is conducted through the mechanisms of Foreign Office Consultations and Inter-Governmental Commission on Trade, Economic, Scientific and Technological, Cultural and Educational Cooperation.
Important Takeaways from Above News for IBPS PO Mains Exam-
  • Yerevan is the Capital of Armenia. 
  • Its currency is Armenian dram.

i. Renowned Hindi litterateur Krishna Sobti has been chosen for 53rd Jnanpith Award for the year 2017, the Jnanpith Selection Board announced. 
ii. Born in 1925 in Gujarat, now in Pakistan, Sobti, 92, is known for experimenting with new writing styles and creating “bold” and “daring” characters in her stories who were ready to accept all challenges.

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Important Takeaways from Above News for IBPS PO Mains Exam-
  • She has been the recipient of many coveted awards in the past, including Hindi Akademi Awards, Shiroman Awards, Maithli Sharan Gupt Samman, Sahitya Akademi Fellowship and Padma Bhushan.
  • Jnanpith Award for 2016 was given to Shankha Ghosh.
  • Jnanpith Award is India’s highest literary honour.
  • First Jnanpith Award was given to G. Sankara Kurup in 1965.
  • It was instituted in 1961 by Bharatiya Jnanpith trust founded by the Sahu Shanti Prasad Jain family.
i. The Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship, Shri Dharmendra Pradhan was on an official visit to Bangkok, Thailand to participate in the IEF 7th Asian Ministerial Energy Roundtable (AMER7).

ii. India is the current chair of International Energy Forum (IEF) which is promoting the AMER – a biennial event bringing together Energy Ministers and experts from Asian countries.

Important Takeaways from Above News for IBPS PO Mains Exam-
  • Bangkok is the capital of Thailand.
  • Thailand is a constitutional monarchy.
i. Fake news, a term popularised by U.S. President Donald Trump, has been named the word of the year by Collins dictionary due to its widespread use around the world.

ii. The U.K.-based lexicographer found that the use of “fake news” registered a 365% rise in the last 12 months. ‘Fake news’ takes over from Brexit — which was named the definitive word last year.

i. The US Senate has confirmed by a voice vote the nomination of Kenneth Juster as the next US Ambassador to India. Juster, 62, has played a key role in the landmark Indo-US civil nuclear deal.
ii. He will replace Richard Verma as the top American diplomat to India.
Important Takeaways from Above News for IBPS PO Mains Exam-
  • Donald Trump is the 45th President of the United States.
i. The Indian Air Force, along with the Defence Research and Development Organisation (DRDO) successfully tested an indigenously developed lightweight ‘Glide’ bomb in Chandipur in Odisha.

ii. With this DRDO announced that this bomb will soon be inducted into the armed forces. Named SAAW (Smart Anti Airfield Weapon), it was dropped from an IAF aircraft at the Integrated Test Range (ITR).

Important Takeaways from Above News for IBPS PO Mains Exam-
  • S Christopher is the present Chairman of DRDO.
  • General Bipin Rawat is the present and 27th Chief of Army Staff.

i. AU Small Finance Bank has received Reserved Bank of India (RBI) approval to operate as Scheduled Commercial Bank. This bank’s name has now been included in the Second Schedule of Reserve Bank of India Act, 1934.
ii. Now AU Small Finance Bank will be able to do borrowing and lending with RBI under Liquidity Adjustment Facility (LAF) and Marginal Standing Facility (MSF).
Important Takeaways from Above News for IBPS PO Mains Exam-
  • Sanjay Agarwal, MD & CEO, AU Small Finance Bank.
  • AU Small Finance Bank started its banking operation from April 19, 2017.
i. ONGC has received the Information Memorandum from the Department of Investment and Public Asset Management for acquiring the majority stake in fellow public sector undertaking HPCL.
ii. ONGC’s acquisition of 51.11 percent stake in HPCL is in line with the government’s plan to create an integrated energy major with businesses spread across the hydrocarbon value chain.
Important Takeaways from Above News for IBPS PO Mains Exam-
  • ONGC stands for Oil and Natural Gas Corporation Limited.
  • Shashi Shankar has been recently appointed CMD of ONGC.
i. Private sector lender Yes Bank signed an agreement with the government to provide Rs 1,000 crore financing for food processing projects. The funding will be provided to around 100 food processing projects with an average ticket size of Rs 10 crore each.

ii. The Focus will be on projects across backend infrastructure, cold chain creation of new processing units, expansion of existing units, forward linkages and food processing clusters in various locations in India, amongst others.

Important Takeaways from the above News:
  • Yes Bank Headquarters in Mumbai. 
  • CEO of Yes Bank is Rana Kapoor.

i. The Border Roads Organisation (BRO) has built the world’s highest motorable road at a height of over 19,300 feet. The road has been constructed in the Ladakh region of Jammu and Kashmir.
ii. The 86-kilometre long strategic road has been constructed under ‘Project Himank’ of the BRO.
Important Takeaways from Above News for IBPS PO Mains Exam-
  • Lt Gen SK Shrivastava is the Director General Border Roads Organization.
i. The Supreme Court has ruled that technical education cannot be provided through correspondence courses. The Apex Court restrained educational institutions from providing courses in technical education like engineering through distance learning programme.

ii. Two years ago, the Punjab and Haryana high court had ruled that a degree in ‘computer science’ obtained through distance mode could not be considered at par with one attained by attending regular classes.

Important Takeaways from Above News for IBPS PO Mains Exam-
  • Justice Dipak Misra is the present and 45th Chief Justice of India.
i. The Income Tax Department has clarified that the cash sales of agricultural produce by a cultivator to a trader for less than 2 lakh rupees will not attract tax under the Income Tax Act.

ii. A circular issued by the Department stated the cultivator and the trader will also not have to provide their Permanent Account Number.

Important Takeaways from Above News for RRB PO Mains Exam-
  • Sushil Chandra is the Chairman of Central Board of Direct Taxes (CBDT).

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