Daily Current Affairs 7th January 2020 | 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 terms, current affairs news, etc. So, here is the GK update of 7th January to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

National News

1. Union Minister of Commerce and Industries inaugurates NSE Knowledge Hub

  • The Union Minister of Commerce and Industries inaugurated the National Stock Exchange (NSE) Knowledge Hub in New Delhi.
  • The National Stock Exchange (NSE) Knowledge Hub is an Artificial Intelligence (AI) powered learning ecosystem that will assist the banking, financial services and insurance (BFSI) sector.
  • The Knowledge Hub will fill in these gaps and help the financial sector to move into the future.
  • It will enhance skills and help academic institutions in preparing future-ready talent for the financial service industry.
  • It is also available on mobile and attempts to bring together world-class content and learners through this state- of- the- art and future-ready platform.
  • This industry-driven learning eco-system will help India in building next-generation skills and capabilities in the BFSI sector.

Important takeaways for all competitive exams:

  • Union Minister for Commerce and Industries: Piyush Goyal.

2. Bhubaneswar to host 1st edition of Khelo India University Games

  • The 1st edition of Khelo India University Games is scheduled to be held at the KIIT University in Bhubaneswar, Odisha from February 22 to March 1, 2020.
  • Union Sports Minister Kiren Rijiju and Odisha Chief Minister Naveen Patnaik unveiled the logo and jersey of Khelo India University Games.
  • Khelo India University Games will witness over 4,000 athletes from 100 Universities across India vying for top honours in 17 different disciplines namely archery, athletics, boxing, fencing, judo, swimming, weight-lifting, wrestling, badminton, basketball, football, hockey, table tennis, tennis, volleyball, rugby and kabaddi.

Important takeaways for all competitive exams:

  • Governor of Odisha: Ganeshi Lal.
  • Odisha Chief Minister: Naveen Patnaik.

International News

3. United States officially launches “US Space Force”

  • United States President Donald Trump has signed the 2020 National Defense Authorization Act.
  • With the signing of the act, US has authorised the establishment of US Space Force.
  • The US Space Force will become the 6th branch of the armed forces.
  • Space Force would become the youngest US military branch, and the first new service since the establishment of the US Air Force back in 1947.
  • The Space Force would be part of the Department of the Air Force.
  • The launch of the Space Force will be funded by an initial $40m for its first year. It will be led by Air Force General Jay Raymond.

Important takeaways for all competitive exams:

  • President of United States:Donald Trump; Capital: Washington, D.C.

State News

4. Journalists’ Day celebrated on 6th January in Maharashtra

  • Journalists’ Day is being celebrated on 6th of January every year in the state of Maharashtra.
  • The day is celebrated in the memory of late thespian journalist Balshashtri Jambhekar.
  • Balshastri Jambhekar, is also known as ‘The Father of Marathi Journalism’, for his efforts in starting journalism in Marathi language.

Important takeaways for all competitive exams:

  • Chief Minister of Maharashtra: Uddhav Thackeray; Governor: Bhagat Singh Koshyari.

5. 2nd phase of Mission Indradhanush-2 begins

  • The 2nd phase of Mission Indradhanush 2.0 rolled out at block level in 35 districts of Uttar Pradesh.
  • The aim of the program launched by the central government in 2017 is to achieve 90% vaccination coverage in children of less than 2 years in the state.
  • Under the program around 66 thousand sessions will be organized for vaccination of more than 5.5 lakh children and around 1.3 lakh pregnant women of the state.
  • The focus of immunization is on urban, underserved population and tribal areas. Intensified Mission Indradhanush will be conducted till March 2020.

Important takeaways for all competitive exams:

  • UP Present CM: Yogi Adityanath; Governor of UP: Anandiben Patel.


6. Ex-CRPF DG Rajiv Rai Bhatnagar appointed as Advisor to J&K LG

  • Former Director-General of Central Reserve Police Force (CRPF) Rajiv Rai Bhatnagar has been appointed as Advisor to the Lieutenant Governor of Union Territory of Jammu and Kashmir.
  • With this, the Lieutenant Governor of J&K Union Territory will have three Advisors.
  • The other two Advisors: KK Sharma and Farooq Khan were appointed on November 14, 2019.

Important takeaways for all competitive exams:

  • Lieutenant Governor of Union Territory of Jammu and Kashmir: Girish Chandra Murmu.


7. India-Russia to sign MoUs on AK-203 assault rifles

  • The Indian Army is to sign a Memorandum of Understanding (MoU) for the procurement of over 7.5 lakh AK-203 assault rifles with Russia.
  • The rifles will be manufactured by the Indo-Russian Rifles Private Limited (IRRPL) at Korwa in Uttar Pradesh.
  • The facility is being set up between the Ordnance Factories Board (OFB) from the Indian side, and Rosoboron Exports and Kalashnikov on the Russian side.
  • The OFB owns 50.5% equity and Russian side holds the remaining 49.5%. The Army has been looking to replace the indigenous INSAS (Indian National Small Arms System) rifles in use with a modern rifle.

Important takeaways for all competitive exams:

  • President of Russia: Vladimir Putin; Capital: Moscow; Currency: Russian Ruble.


8. RBI revises supervisory framework for Urban Co-operative Bank

  • The Reserve Bank of India has revised its supervisory framework for Urban Co-operative Banks (UCBs).
  • The revised framework aims to expedite resolution of UCBs experiencing financial stress.
  • The revised framework stipulates the thresholds for various parameters that could trigger a corrective action by the UCBs or a supervisory action by the central bank.
  • A UCB may be placed under supervisory action framework under the following conditions:
  • When its Net Non-Performing Asset (NPA) exceeds 6% of its net advances.
  • When its Capital to Risk (Weighted) Assets Ratio (CRAR) falls below 9%.
  • When it incurs losses for two consecutive financial years or has accumulated losses on its balance sheet.
  • RBI could also undertake different actions like imposition of all-inclusive directions under section 35A of the Banking Regulation Act, 1949.
  • Issue of show cause notice for cancellation of banking license may also be considered by the RBI if continued normal functioning of the UCB is no longer considered to be in the interest of its depositors.

Important takeaways for all competitive exams:

  • RBI 25th Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

9. Shivalik Mercantile Co-op. Bank Ltd gets RBI’s approval to become SFB

  • The Reserve Bank of India (RBI) has granted “in-principle” approval to Shivalik Mercantile Co-operative Bank Limited for transition into a Small Finance Bank (SFB).
  • The transition into a SFB will be under the “Scheme on voluntary transition of Urban Co-operative Bank into a Small Finance Bank” issued on September 27, 2018.
  • The “in-principle” approval granted will be valid for 18 months to enable the applicant to comply with the requirements under the Scheme, the Guidelines for ‘on tap’ Licensing of Small Finance Banks in the Private Sector and fulfil other conditions as stipulated by the RBI.
  • On being satisfied that the applicant has complied with the requisite conditions laid down by RBI as part of “in-principle” approval, the RBI would consider granting it a licence for commencement of banking business under Section 22 (1) of the Banking Regulation Act, 1949 as a SFB.

Important takeaways for all competitive exams:

  • RBI 25th Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.


10. Uber ties up with Hyundai to develop electric air taxis

  • Uber Technologies Inc and automaker Hyundai Motor have teamed up to develop electric air taxis.
  • The partnership aims to make small self-flying cars to ease urban congestion.
  • The team is heading towards a goal of launching Uber Air by 2023 and urban air mobility service in 2028.
  • Hyundai is the first carmaker to join Uber’s air taxi project.
  • Hyundai will produce and deploy the vehicles while Uber will provide aerial ride-share services. Uber has partnered with eight companies for its air taxi project.

Science and Technology

11. Challakere to be ISRO’s astronaut training hub

  • The Indian Space Research Organisation (ISRO) has proposed Human Space Flight Centre (HSFC) at Challakere in Chitradurga district of Karnataka.
  • The facility is expected to become operational in 3 years.
  • ISRO aims to establish a self-contained training facility here. At present, astronauts part of Gaganyaan Mission, the Human Spaceflight Programme of ISRO are trained in Russia.
  • The centre aims at bringing in all the features that are provided by Russia and begin training astronauts within the country.

Important takeaways for all competitive exams:

  • ISRO Chairman: K. Sivan; Headquarters: Bengaluru; Established: 1969.

Summits and Conferences

12. Kochi to host Global Investors Meet: ASCEND 2020

  • Kochi, Kerala will host the Global Investors Meet: ASCEND 2020. ASCEND 2020 will showcase 18 mega projects with over Rs 100 crore investment each and offering direct employment to over 9,000 people.
  • The projects include: Kochi-to-Palakkad integrated manufacturing cluster, an electronic hardware park in Ernakulam district, integrated solid-waste management systems in Thiruvananthapuram, Thrissur and Malappuram, a medium density fibreboard plant in Perumbavoor and a defence park at Ottappalam, and many other projects.
  • The meet will be organised by the Industries Department. The Invest Kerala Portal: “invest.kerala.gov.in” will also be showcased at the meet.
  • Invest Kerala Portal is a single-window facilitator for hassle-free investment promotion launched under its ease of doing business initiative.

Important takeaways for all competitive exams:

  • Chief Minister of Kerala: Pinarayi Vijayan; Governor: Arif Mohammed Khan.

13. Kochi to host global meet on marine ecosystem MECOS-3

  • Kochi will host the 3rd international symposium on marine ecosystems challenges and opportunities (MECOS-3) from January 7 to 10.
  • This symposium will be organised by the Marine Biological Association of India.
  • Eminent marine scientists, oceanographers, fisheries researchers and marine biotechnologists from across the globe are expected to participate in the third international symposium on (MECOS-3).
  • The symposium is aimed at reviewing the concerns involved in the marine ecosystem and formulating strategies for the better and sustainable utilisation of marine wealth by enhancing livelihood options

Important takeaways for all competitive exams:

  • CM of Kerala: Pinarayi Vijayan; Governor of Kerala: Arif Mohammed Khan.

14. Rajnath Singh inaugurates National Traders Convention in Delhi

  • Defence Minister inaugurated the National Traders Convention at Ramlila Maidan, Delhi.
  • The convention has been organised by Confederation of All India Traders and will deliberate upon various issues concerning traders, including “onslaught of e-commerce companies on retail trade by their malpractices and violation of FDI policy”.
  • The aim of this convention will be to discuss the role of the trading community in achieving a 5 trillion dollar economy goal.

Important takeaways for all competitive exams:

  • Union Defence Minister: Rajnath Singh.


15. CISF to observe 2020 as ‘year of mobility’

  • The Central Industrial Security Force (CISF) will observe 2020 as the ‘year of mobility’ that will have a special focus on the creation of more residential units and implementation of various welfare measures for the troops.
  • In the year 2020, the Central Industrial Security Force (CISF) will aim at creating an infrastructure for their families.
  • It will also aim at focusing on sports and physical fitness leveraging modern gadgetry.
  • It is essential to equip the forces with modern instruments as the force plays a major role in the security system of the country.
  • They guard civil airports, nuclear power stations, mines, thermal power stations in the private domain as well.

Important takeaways for all competitive exams:

  • Director-General of CISF: Rajesh Ranjan; CISF established: 1969.


16. Leo Carter becomes 7th cricketer to hit six 6s in an over

  • New Zealand‘s batsman Leo Carter has become the seventh batsman in the history of cricket to smash six 6s in an over.
  • He achieved the feat in New Zealand’s domestic T20 tournament Super Smash.
  • Representing Canterbury, he smashed Knight’s bowler Anton Devcich for six 6s in the 16th over of the innings.
  • Other 6 players who have achieved the feat are: Gary Sobers (West Indies), Ravi Shastri (India), Herschelle Gibbs (South Africa), Yuvraj Singh (India), Ross Whiteley (England) and Hazratullah Zazai (Afghanistan).
  • When it comes to T20 cricket, Carter is just the fourth batsman to achieve the feat. Yuvraj is the only batsman to have scored six 6s in an international T20I.

17. P Magesh Chandran wins 95th Hastings International Chess title

  • India’s P Magesh Chandran wins the title in the 95th edition of the prestigious Hastings International Chess Congress at Hastings in England. France’s Romain Edouard, who was the only player to end the tournament a half-point behind Chandran, took the second spot.


18. Home Minister lays foundation stone of Delhi Cycle Walk

  • Union Home Minister has laid the foundation stone of Delhi Cycle Walk project.
  • The project will be installed at Tughlakabad in the National Capital New Delhi.
  • The project aims to make the city most walkable and environment friendly.
  • Delhi Cycle Walk will have network of over 220 km.
  • This cycle walk will cover abundant forests, dense residential areas and work places in close proximity in the city.

Important takeaways for all competitive exams:

  • Union Home Minister: Amit Shah.

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