Daily Current Affairs 31st August 2019 | Daily GK Update

Dear Aspirants,

General awareness section is the most important part of every competitive exam, it can help you score well in the exam if you are updated with all the current news. Banking Awareness, Static GK and the current news are the parts that make the GA section complete. It is important to know what is happening in and outside of India. GK updates are incorporated with the important news that made the headlines today. It is the complete bag of the important news that held all day long. One should have complete knowledge about the banking termscurrent affairs newsetc. So, here is the GK update of 31st August to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

National News

1. Government announces Mega Merger of Public Sector Banks

i. Union Finance Minister Nirmala Sitharaman has announced a big consolidation of public sector banks. Under the scheme of amalgamation, 10 public sector banks are to be merged into four banks
ii. After the amalgamation, the total number of Public Sector Banks in the country will come down to 12 from 27 banks in 2017
iii. The amalgamation of banks will be in the following manner:
  • Punjab National Bank, Oriental Bank of Commerce and United Bank of India to be merged into one single bank, with business of Rs 7.95 trillion to make India’s 2nd largest bank.
  • Canara Bank and Syndicate Bank are to be merged to become the 4th largest public sector bank with business of Rs 15.2 lakh crore.
  • Union Bank of India, Andhra Bank and Corporation Bank are to be merged to become the 5th largest public sector bank with business of Rs 14.6 lakh crore.
  • Indian Bank will be merged with Allahabad Bank to become the 7th largest public sector bank with business of Rs 8.08 lakh crore.
iv. The government has also announced capital infusion of over Rs 55,000 crore into public sector banks: PNB (Rs 16,000 crore), Union Bank of India (Rs 11,700 crore), Bank of Baroda (Rs 7000 crore), Indian Bank (Rs 2500 crore), Indian Overseas Bank (Rs 3800 crore), Central Bank (Rs 3300 crore), UCO Bank (Rs 2100 crore), United Bank (Rs 1600 crore) and Punjab and Sind Bank (Rs 750 crore).
2. Most awaited “Assam’s National Register of Citizens List” released

i. State coordinator of the National Register of Citizens, Prateek Hajela has released the most awaited Assam’s final National Register of Citizens list. The list has been made accessible online and at all NRC seva kendras in the state. 
ii. The process of NRC Update was started in the state of Assam as per order of the Supreme Court of India in 2013. The NRC took five years and Rs 1,220 crore before getting published.
iii. Important findings of the NRC:
  • From the 3.29 crore applicants, a total of 3.11 crore people have been found eligible for inclusion in final NRC list.
  • 19.06 lakh people have been excluded from the final NRC list.
  • Those excluded from the final NRC list will have 120 days to approach the Foreigners’ Tribunals. If a person is dissatisfied with the tribunal’s decision, he/she can appeal against it.
  • Foreigners tribunals is a place where bona fide citizens, whose names do not figure in the final NRC, can approach to challenge their exclusion.
  • To accommodate excluded people, detention camps have been set up across the state of Assam.
iv. The NRC list is the biggest exercise India has undertaken to expel illegal immigrants residing illegally in India. The updation process of NRC was carried out under The Citizenship Act, 1955, and according to the rules framed in the Assam Accord.
3. CBDT constitutes five-member “Startup Cell” for startups

i. The Central Board of Direct Taxes has announced the creation of a five-member special cell “Startup Cell” for startups. The “Startup Cell” will address the grievances of the startups with relation to angel tax and other tax-related issues. 
ii. Startup entities can approach the cell for speedy resolution of their grievances. The ‘startup cell’ will be headed by the member (Income Tax and Computerisation) of the board.
iii. Start-up Cell has been constituted by CBDT with the following ex-officio members:
  • Member (Income Tax and Computerisation): Chairman
  • Joint Secretary (tax policy and legislation-II): Member
  • Commissioner of I-T (ITA): Member
  • Director (ITA-I): Member Secretary
  • Under Secretary(ITA-I): Member
Static/Current Takeaways Important For IBPS RRB PO Mains:
  • Chairman of CBDT: Pramod Chander Mody.

State News

4. “Special Tiger Force” for Corbett Reserve to be set up by Uttarakhand

i. The Uttarakhand government has decided to form a Special Tiger Force for Corbett Tiger Reserve. The STPF will be effective in checking illegal human intrusion into the reserve through villages located on its fringes. 
ii. The STPF will serve as a second layer of protection for tigers at the Corbett Tiger Reserve.
Static/Current Takeaways Important For IBPS RRB Clerk Mains:
  • Chief Minister of Uttarakhand: Trivendra Singh Rawat; Governor: Baby Rani Maurya.
5. Meghalaya launches ‘Walk to Work’ campaign

i. Chief Minister of Meghalaya launched the ‘Walk to Work’ campaign in the state. The campaign is a part of Fit India Movement which has been launched in the country by the Prime Minister. 
ii. The campaign comes with the multiple benefits like cost cutting of fuel including reduction of CO2 emission, reduction in congestion in the city and the most important “health and fitness” for the citizens.

Static/Current Takeaways Important For IBPS RRB PO Mains:

  • Chief Minister of  Meghalaya: Conrad K Sangma; Governor: Tathagata Roy.

6. Central TB Division signs MoU to fight tuberculosis with help of AI

i. The Central TB Division of the Health Ministry has signed an MoU with Wadhwani Institute for Artificial Intelligence. Under the MoU, the division seeks to explore the application of cutting-edge Artificial Intelligence technology in its fight against tuberculosis (TB).
ii. Wadhwani AI would support the National TB programme by helping it become AI-ready. This would including developing, piloting, and deploying the AI-based solutions.
7. P.K. Sinha appointed as Officer on Special Duty in PMO

i. The Appointments Committee of the Cabinet has approved the appointment of P.K. Sinha as “Officer on Special Duty” in the office of the Prime Minister. P K Sinha was earlier serving as the Cabinet Secretary before the appointment of Rajiv Gauba.

Summit and Conference

8. “Mega Vendor Meet 2019” held at Lucknow

i. Research Designs and Standards Organization organized the “Mega Vendor Meet 2019” at Lucknow. The special meet was organized to expand vendor base and spread information on greater business opportunities in Railways Sector.
ii. Research Designs and Standards Organization is a research wing of Indian Railways.

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