March 2018

1st March 2018

The General Awareness Section of Banking Exams covers numerous sections in it like Banking Awareness, Static GK, and Current Affairs. But the most important thing that you might have noticed is that both the Banking Awareness and Static Awareness questions asked in the General Awareness Section are based on Current Affairs only. The questions on Static and Banking Awareness are related to the countries, events or anything that has been in news for a while. Apart from the GA Section, an excellent knowledge of current news also helps you deal with the PI (Personal Interview) more efficiently so you do not give a mumble jumble answer to the interviewee’s simple questions. Here is the Daily GK Update to get you acquainted with the top events that made the headlines today!!
Current Affairs 01st March 2018: Daily GK Update

National News


1. Important Cabinet Approvals- 28th February 2018

i. The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given the following set of approvals. The important Cabinet Approvals are given as follows-
ii. The Cabinet has approved-
1. An apprised of an MoU between India and Fiji on Cooperation in Renewable Energy.
2. MoU between India and Macedonia on cooperation in the field of Health.
3. Signing of MoU between India and Jordan on Cooperation in Health Sector.
4. Signing of MoU between India and Jordan on Cooperation in the Field of Manpower.
5. Agreement between India and Jordan on Cooperation and Mutual Administrative Assistance in Customs Matters.
6. Amendments to Housing and Telephone Facilities Rules, Constituency Allowance Rules and Office Expense Allowance Rules for MPs.
7. The Trafficking of Persons (Prevention, Protection and Rehabilitation) Bill, 2018.
8. MoU between India and Jordan for mining and beneficiation of Rock Phosphate & MOP and setting up the production facility in Jordan for Phosphoric Acid/DAP/NPKFertilizers.
9. MoU between India and Vietnam on Economic and Trade Cooperation.
10. Doubling of Government guarantee from Rs 9,500 crore to Rs.19,000 crore for procurements of pulses and oilseeds at MSP under Price Support Scheme by NAFED.
11. Continuation of Prime Minister’s Employment Generation Programme (PMEGP) beyond 12th Plan for three years from 2017-18 to 2019-20.

 

2. Union Cabinet Approves Anti-Trafficking Bill Draft
 
i. The apex anti-terror body National Investigation Agency (NIA) will be the nodal authority for probing cases of human trafficking after the government approved a proposal in this regard.
ii. The Union Cabinet okayed the draft Trafficking of Persons (Prevention, Protection and Rehabilitation) Bill, which also proposes a punishment of life imprisonment for repeat offenders. The draft Bill divides various offences into “trafficking” and “aggravated trafficking”.
Static/Current Takeaways Important for Canara Bank PO 2018 Exam-
  • Yogesh Chander Modi is the Director General of NIA.

 

3. 1st Mega Food Park Inaugurated in Maharashtra
i. The first Mega Food Park in the state of Maharashtra Satara Mega Food Park Pvt. Ltd. at Village Degaon, District Satara was inaugurated by Harsimrat Kaur Badal, Union Minister of Food Processing Industries.

ii. This is the 10th Mega Food Park being operationalized in the country and the 8th operationalized during the tenure of the present government. Satara Mega Food Park has been set up in 64 acres of land at a cost of Rs. 139.30 crore.

Static/Current Takeaways Important for Canara Bank PO 2018 Exam-
  • Maharashtra CM- Devendra Fadnavis, Governor- CV Rao.
4. Union Textile Minister Smriti Irani Attends 27th IJIRA in Kolkata
i. Union Textile Minister Smriti Irani attended the 27th Technological Conference of Indian Jute Industries’ Research Association (IJIRA) on Shaping the Future of Jute in Kolkata.

ii. The function was focused on the promotion of geotextiles in the northeast region. Geotextiles are absorbent fabrics which, when used in association with soil, have the ability to separate, filter, reinforce, protect or drain.

Banking/Economy News 

 

5. India to Grow 7.6% in 2018: Moody’s
i. Moody’s Investors Service estimated that India will grow 7.6% in the calendar year 2018 and 7.5% in 2019, amid signs of economic recovery from the impact of demonetisation and GST.
ii. In its global growth forecasts for 2018 and 2019, Moody’s stated the Budget for the fiscal year beginning April 1 (2018-19) includes some measures to stabilise the rural economy that was disproportionately hit by the scrapping of high denomination 500 and 1000 rupee notes.
6. India’s GDP Growth Rises to 7.2% in December Quarter
i. The Indian economy grew at a five-quarter high of 7.2% in the October-December period reflecting overall recovery due to good show by agriculture, manufacturing, construction and certain services.
ii. The economy is expected to grow at 6.6% in the current fiscal ending March 31, as per the second advanced estimates of the Central Statistics Office (CSO).
iii. The earlier estimate was 6.5%. The growth for the second quarter (July-September) has been revised upwards to 6.5%, from 6.3% estimated earlier by the CSO.
Static/Current Takeaways Important for Canara Bank PO 2018 Exam-
  • Arun Jaitley is the Present Finance Minister of India.
7. IndusInd Bank and Ripple Tie-up for Cross-Border Remittances
i. IndusInd Bank announced its partnership with Ripple (the enterprise blockchain solution for Global Payments) to facilitate payments into and out of India. With this affiliation, RippleNet can now provide instant access in emerging markets such as India, Brazil and China.

ii. In 2017, India saw a total of $65 billion move into the country and IndusInd Bank which has significant interests in cross-border remittances, plans to harness the power of Blockchain technology for facilitating global payments.

Static/Current Takeaways Important for Canara Bank PO 2018 Exam-
  • IndusInd Bank commenced operations in 1994
  • IndusInd Bank Chairman- R. Seshasayee, Headquarter- Mumbai, Owner- Hinduja Group.
Sports News


8. Tokyo Unveils Mascots for 2020 Olympics and Paralympics

i. Tokyo unveiled its long-awaited mascot for the 2020 Olympic Games: a futuristic blue-checked, doe-eyed character with pointy ears and “special powers” that was picked by schoolchildren across mascot-mad Japan.
ii. One has an athletic figure and a strong sense of justice. The other is a cherry blossom-inspired superhero.

2nd and 3rd March 2018

The General Awareness Section of Banking Exams covers numerous sections in it like Banking Awareness, Static GK, and Current Affairs. But the most important thing that you might have noticed is that both the Banking Awareness and Static Awareness questions asked in the General Awareness Section are based on Current Affairs only. The questions on Static and Banking Awareness are related to the countries, events or anything that has been in news for a while. Apart from the GA Section, an excellent knowledge of current news also helps you deal with the PI (Personal Interview) more efficiently so you do not give a mumble jumble answer to the interviewee’s simple questions. Here is the Daily GK Update to get you acquainted with the top events that made the headlines today!!
Current Affairs 02nd and 3rd March 2018: Daily GK Update

National News


1. Centre approves Rs 2900 crore to make cities safer for women

i. Women and Child Development Ministry has approved projects worth over Rs 2,900 crore under the Nirbhaya fund for eight major cities to make them safer for women.
ii. These cities are Delhi, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad, Ahmedabad and Lucknow. The decision was taken after a meeting of Empowered Committee, which is headed by Women and Child Development Secretary.
Static/Current Takeaways Important for Canara Bank PO 2018 Exam-
  • The Nirbhaya Fund was set up in the aftermath of the gruesome gangrape and murder of a paramedical student in Delhi in 2012, and aims at improving safety for women.
  • Maneka Sanjay Gandhi is the Union Cabinet Minister for Women & Child Development.
  • Manoj Kumar Arora is Private Secretary to Mrs Maneka Sanjay Gandhi, Minister for Women and Child.

 

2. Cabinet clears setting up of NFRA to oversee auditors
i. Union Cabinet has approved the establishment of National Financial Reporting Authority (NFRA). NFRA will act as an independent regulator for the auditing profession which was one of the key changes brought in by the Companies Act 2013. 
ii. The Cabinet also gave nod to the Fugitive Economic Offenders Bill – 2018 to deal with those escaping overseas to avoid getting caught.

 

3. India-Jordan sign 12 agreements
 
i. India and Jordan has renewed their support to the Palestinian cause as the two sides signed 12 agreements, including one on defence cooperation, following a bilateral meeting between Prime Minister Narendra Modi and King of Jordan Abdullah II Ibn Al Hussein.
ii. These include agreement on Defence Co-operation, Visa waiver of Diplomatic & Official Passport holders, Cultural Exchange Programme, Manpower Co-operation agreement, Co-operation in field of Health and Medicine. Setting up of Next Generation Centre of Excellence. MoU for long term supply of Rock Phosphate and Fertilizer/NPK, Customs Mutual Assistance Agreement.
4. Vietnam President Tran Dai Quang Arrives in India on 3-day Visit
i. The Vietnamese President Tran Dai Quang has arrived in India on the 3-day visit. He is scheduled to hold delegation level talks with PM Narendra Modi in New Delhi. Strengthening cooperation in the key areas of defence and trade will be high on the agenda.

ii. The two sides will sign MoUs in the areas of nuclear energy, agriculture and trade and investment. This is Tran’s first visit to India as president.

Static/Current Takeaways Important for Canara Bank PO 2018 Exam-
  • Vietnam Capital- Hanoi, Currency- Vietnamese dong.
5. World’s Largest Solar Park ‘Shakti Sthala’ Launched in Karnataka
i. The Karnataka government inaugurated the first phase of a 2,000 megawatts (MW) solar park in the drought-prone district, Tumkur. The first phase of the Rs16,500 crore park called “Shakti Sthala” will generate 600MW, while the balance 1,400MW is expected to be commissioned by the end of 2018.

ii. The solar project is the largest in the world, is spread over 13,000 acres and five villages. It is part of the “Karnataka Solar Policy 2014-2021” which aims to decrease dependence on traditional power sources and move to environmentally friendly ones to meet the growing power needs of the state. The park ties in with the centre’s scheme to generate 100 gigawatts (GW) of solar power by 2020.

Static/Current Takeaways Important for Canara Bank PO 2018 Exam-

  • Karnataka CM- Siddaramaiah, Governor- Vajubhai Vala.
International News

6. India, Bangladesh, Russia Sign Pact for Rooppur Atomic Plant

i. Indian companies can now participate in construction and installation works in the “non-critical” category for the Rooppur nuclear power plant in Bangladesh, according to the Russian atomic energy agency Rosatom.
ii. The Rooppur project is the first initiative under an Indo-Russian deal to undertake atomic energy projects in third countries. This will also be the first time Indian companies will be able to participate in a nuclear power project abroad. India, Bangladesh and Russia signed an agreement in this regard in Moscow, Russia.
7. Armen Sarkisian Elected Next Armenian President
i. Armenian lawmakers elected Armen Sarkisian as the new president of Armenia. He will succeed Serzh Sarkisian. Armen Sarkisian was the ambassador to the United Kingdom.
ii. He will assume presidential duties after his predecessor steps down in April 2018. The political shift comes after President Sarkisian in 2015 initiated controversial constitutional amendments to turn the impoverished Moscow-allied country into a parliamentary republic with a powerful Prime Minister.
Static/Current Takeaways Important for Canara Bank PO 2018 Exam-
  • Armenia Capital- Yerevan, Currency- Armenian dram.

Banking/Economy News 

 

8. PNB and ICICI Bank Increases MCLR Rates
i. The Punjab National Bank (PNB) and ICICI Bank hiked the MCLR rates for loan borrowers. Taking a cue from SBI, country’s second-largest private sector lender ICICI Bank also raised the one-year MCLR from 8.2% to 8.3%.
ii. The PNB, which is at the centre of Nirav Modi fraud also increased one-year MCLR to 8.3% from 8.15%.
Static/Current Takeaways Important for Canara Bank PO 2018 Exam-
  • MCLR stands for- Marginal Cost of funds based Lending Rate.

9. SBI hikes lending rate to 8.15%
i. The State Bank raised its lending rates by 20 basis points to 8(point)15 per cent, with immediate effect, setting the tone for the industry to follow suit. This is likely to make home and car loans costlier.
ii. This is the first lending revision by the bank since April 2016 and comes a day after it massively raised the retail and bulk deposit rates.
Sports News


10. Navjot Kaur 1st Indian Woman to Win Gold in Asian Wrestling Championship

i. Navjot Kaur has clinched the 1st gold medal for India in the Asian Wrestling championship in Bishkek, Kyrgyzstan. She defeated Imai Miyu of Japan in the final of women’s 65 kg freestyle. With 1 gold, 2 silver and 1 bronze medal, India was at the second spot in the medals tally.
ii. Vinesh Phogat and Pinki of Indian Railways claimed silver medals while Sakshi Malik won a bronze in the 62-kilogram category. China was leading the table with 4 gold and 1 bronze medal while Japan was at the third place with 1 gold, 1 silver and 2 bronze medals.
Static/Current Takeaways Important for Canara Bank PO 2018 Exam-
  • Kyrgyzstan Capital-  Bishkek, Currency- Kyrgyzstani som.
11. 27th Sultan Azlan Shah Cup Hockey Tournament Begins in Malaysia
i. The 27th Sultan Azlan Shah Cup Hockey tournament begins in the Malaysian city of Ipoh. Six nations – India, hosts Malaysia, defending champions England, Australia, Argentina and Ireland – are taking part in the tournament.
ii. India, currently the world number six side, will take on world number two Argentina in their opening round-robin match.
Static/Current Takeaways Important for Canara Bank PO 2018 Exam-
  • Malaysia Capital- Kuala Lumpur, Currency- Malaysian ringgit.
 
12. IOC restores Russia’s Olympic membership
 
i. International Olympic Committee (IOC) has restored Russia’s Olympic membership with immediate effect following its suspension from the Winter Olympics at Pyeongchang in South Korea. Russia was banned from February’s Games by the IOC over state-sponsored doping.

ii. Before closing ceremony of Winter Olympics, the IOC had stated that the ban would be lifted, as long as there were no more anti-doping violations.

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