Current Affairs: Daily GK Update 6,7 and 8 May, 2017

Study Daily Current Affairs from Daily GK Update on Mock4exam.org, and stay updated as well as prepare for General Awareness section of bank exams. Its time to gear up your preparations for  All Govt Exam 2017, and with daily dose of current affairs you can easily prepare G.A and score well.

(1). MoUs Worth Rs 2 Lakh Crores Signed in the India Integrated Transport & Logistics Summit
i. Thirty-four MoUs amounting to about Rs 2 lakh crores were signed in the three-day India Integrated Transport and Logistics Summit that was concluded in New Delhi.
ii. The Summit was attended by around 3000 delegates from India and abroad, which included central and state government organizations, international organizations like World Bank and ADB, delegates, global transport and supply chain experts and representatives of private companies.

(2). RBI tightens Rules for JLFs
i. The Reserve Bank of India (RBI) has tightened the rules around making the Joint Lenders’ Forum (JLF) more effective, directing banks not to break any rules and to meet all deadlines.
ii. The RBI has said that any breach of rules would attract a monetary penalty.
iii. As per the new norms, RBI has lowered the threshold needed for implementing the corrective action plan (CAP).
iv. Now, the decisions agreed to by a minimum of 60% of creditors by value and 50% of creditors would now be valid to implement the CAP.
v. JLFs are meetings held to revitalise stressed assets.
vi. In JLF banks attempt to red-flag stress early and check them by putting in place a corrective action plan (CAP).
(3). Forex Reserves Touch Life Time High of $372.73 billion
i. According to the Reserve Bank of India’s weekly statistical supplement, India’s foreign exchange (Forex) reserves have increased by $1.594 billion to touch a lifetime high of $372.73 billion in the week that ended on April 28.
ii. The increase was due to increase in foreign currency assets (FCAs), The reserves had increased by $1.250 billion to $371.14 billion in the previous week.
iii. The components of India’s Foreign Exchange Reserves include:
Foreign currency assets (FCAs)
Gold Special Drawing Rights (SDRs)
RBI’s Reserve position with International Monetary Fund (IMF)
iv. FCAs constitute the largest component of the Forex Reserves.
v. FCAs consist of US dollar and other major non-US global currencies.
vi. It also comprises of investments in US Treasury bonds, bonds of other selected governments, deposits with foreign central and commercial banks.
vii. The gold reserves stand at $19.869 billion.
viii. SDRs’ value has increased $8.5 million to reach $1.460 billion.
ix. RBI’s reserve position with the IMF also increased by $15.8 million to reach $2.347 billion.
(4). Assam declared as ‘Disturbed’ Area Under AFSPA for 3 More Months
i. The govt has declared the entire Assam as a “disturbed” area under the Armed Forces (Special Powers) Act for another 3 months.
ii. As per the notification, the entire Assam besides bordering areas of Meghalaya has been declared as “Disturbed Areas”.
iii. In addition, the govt has placed three districts of Arunachal Pradesh, namely, Tirap, Changlang and Longding and other areas falling under 16 police stations bordering Assam as “disturbed” area under the AFSPA.
iv. The govt has cited various violent activities carried out by certain insurgent groups like ULFA, NDFB and others as a reason behind the extension of AFSPA.
v. The AFSPA has been under force in the three Arunachal Pradesh districts since January 2016.
vi. Armed Forces (Special Powers) Acts is collective name of several acts passed by Indian parliament for providing special powers to the Indian Armed Forces and to provide army officers and jawans legal immunity for their actions in disturbed areas.
(5). Indian Origin Scientists Elected Fellows of UK Royal Society
i. Three Indian Scientist have been elected as the Fellows of The Royal Society, a premier scientific academy of the United Kingdom and the Commonwealth, for their “outstanding contributions to science“.
ii. Eminent scientists, engineers and technologists from or living and working in the UK and the Commonwealth are elected every year as the Fellows of The Royal Society.
iii. Krishna Chatterjee from Cambridge University has been recognised for his discoveries of genetic disorders of thyroid gland formation, regulation of hormone synthesis and hormone action.
iv. Subhash Khot from New York University is a theoretical computer scientist who is known for his definition of the “Unique Games” problem.
v. Yadvinder Malhi from Oxford University is an ecosystem ecologist who is recognised for his works on understanding the functioning of terrestrial ecosystems and its response to the pressures of global change, including climate change, degradation and loss of large animals.
vi. The Royal Society is a self-governing fellowship society of the world’s most distinguished scientists drawn from all areas of science, medicine and engineering.
vii. It is world’s oldest scientific academy in continuous existence and was established in 1660.
viii. Its mission is to recognise, support and promote excellence in science and to encourage the development and use of science for the benefit of humanity.
(6). India launches South-Asia satellite
i. The “South Asia satellite” for use by countries of the South Asian Association for Regional Cooperation (SAARC) region has been launched on May 5.
ii. The Prime Minister Narendra Modi has hailed the satellite as an invaluable gift of India to South Asia and has further stated that the satellite “will go a long way in addressing South Asia’s economic and developmental priorities.”
iii. The beneficiaries of the satellite will be Nepal, Bhutan, Bangladesh, Afghanistan, Sri Lanka and Maldives.
iv. The total cost of launching the satellite (around Rs 235 crore) would be met by the Government of India.
v. The 2,230 kg satellite called GSAT-09 has been built by the Indian Space Research Organisation (ISRO).
vi. The satellite will provide a full range of applications and services in the fields of telecommunication and broadcasting applications, namely, Television, Direct-to-Home (DTH), Very Small Aperture Terminals (VSATs), Tele-education, Telemedicine and Disaster Management Support.
(7). China’s C919 Passenger Jet completed its Maiden Flight
i. China’s home-grown C919 passenger jet has completed its maiden flight.
ii. China’s C919 is a symbol of China’s ambitions to take market share from Boeing and Airbus in the lucrative global jet market estimated to be worth $2 trillion over the next two decades.
iii. It is a part of China’s broader “Made in China 2025” plan aimed at boosting its domestic high-tech manufacturing.
iv. As a part of its maiden flight, C919 passenger jet undertook an 80-minute flight flying over the Yangtze River delta and touched down at Shanghai’s international airport.
v. C919 is a made by state-owned Commercial Aircraft Corporation of China (COMAC). The aircraft can carry 158-168 passengers.
(8). Heads of 7 PSU Banks Appointed
i. In a major restructuring in the banking sector, Appointments Committee of the Cabinet (ACC), headed by Prime Minister Narendra Modi appointed heads of seven public sector banks besides shifting managing directors of PNB and Bank of India.
ii. PNB Managing Director (MD) Usha Ananthasubramanian has been appointed as the head of Kolkata-based Allahabad Bank.
iii. Melwyn Rego of Bank of India will head the Syndicate Bank.
iv. Rajkiran Rai G, currently executive director of Oriental Bank of Commerce will head Union Bank of India as its MD and CEO for a period of three years.
v. R Subramaniakumar, currently executive director of Indian Overseas Bank, has been made as its MD and CEO.
vi. Sunil Mehta, currently the executive director of Corporation Bank will head the PNB in place of Usha Ananthasubramanian.
vii. The executive director of Canara Bank Dinabandhu Mohapatra will be the MD and CEO of Bank of India.
viii. R A Sankara Narayanan, currently executive director of BoI will be the MD and CEO of Vijaya Bank.
(9). Kashmir based Saqib Majeed has bagged 2016 Wisden-MCC Cricket ‘Photograph of the Year’ Award

i. Kashmir based freelance photographer has bagged prestigious 2016 Wisden-MCC (Melbourne Cricket Council) Cricket ‘Photograph of the Year’ for capturing a stunning image of boys playing cricket at the Nishat garden in the outskirts of Srinagar.
ii. With this Saqib Majeed has become the first Kashmiri and second Asian after Atul Kamble to receive the prestigious award.
iii. Every year MCC publishes a book with a title ‘Wisden Cricketer Almanack’ that includes best sports pictures that were taken across the globe.
iv. This year’s edition of the book will also feature Majeed’s picture.
(10). First Woman Chief Justice of a State High Court Passed Away
i. Justice Leila Seth who became the first woman Chief Justice of a State High Court has passed away at the age of 86.
ii. She has also received the distinction of becoming the first woman to top the London Bar exam as well as the becoming the first female judge of the Delhi High Court.
iii. Leila Seth is the mother of the noted author Vikram Seth.
(11). PM Modi addresses Indian heads of mission meet in New Delhi
i. Prime Minister Narendra Modi addressed an Indian heads of mission meet in New Delhi, which is brainstorming key foreign policy issues and challenges including India’s engagement with major powers as well as strain in ties with Pakistan and China.
ii. The four-day conference, was formally inaugurated by External Affairs Minister Sushma Swaraj.

 

(12). Country’s 1st bio refinery plant inaugurated in Pune

i. Union Minister for Road Transport and Highway Nitin Gadkari inaugurated the country’s first bio-refinery plant which produces ethanol from the variety of biomass.
ii. The project is situated at Rahu in Pune district. Mr. Gadkari stated that Plant can produce one million litre of ethanol per annum by processing a variety of agro-residue like rice and wheat straw, cotton stalk, cane trash, corn cobs with superior product yields.

 

(13). Odisha to introduce boat ambulances in four districts
i. Odisha will introduce boat ambulance service in four districts where people face difficulties in getting health service.
ii. The boat ambulance service will be available in the districts of Koraput, Malkangiri, Kendrapara and Kalahandi where people face problems in availing 108 ambulance service due to intervening large water bodies in the form of rivers and dams disrupting road communication, stated by Health and Family Welfare secretary P K Meherda.

 

(14). India organized festival in Egypt to mark Tagore’s birth anniversary
i. India has organized a cultural festival in Egypt to mark the 156th birth anniversary of the famous Indian poet, Rabindranath Tagore.
ii. The Tagore festival is being organized by the Maulana Azad Centre for Indian Culture, the cultural wing of the Indian Embassy in Cairo which is conclude on May 12 with ‘Rituranga -Play of Seasons’ and will be performed by members of the Indian community at the Hanager Theatre.
iii. Rabindranath Tagore received the Nobel Prize for Literature in 1913. He was the first non-European to win this prestigious award, in recognition for his collection of poems, ‘Gitanjali’.

 

(15). Hinduja brothers top UK’s rich list
i. The Hinduja brothers have topped the 2017 list of the richest 1,000 people in the UK with an estimated fortune of 16.2 billion pounds, a massive 3.2 billion pound hike in their fortunes over the previous year.
ii. Besides brothers Srichand and Gopichand Hinduja there are over 40 Indian-origin super-rich in this year’s (2017) list which also includes a record number of British billionaires with 14 new ones emerging over the last year.

 

(16). 3 Indian scientists elected fellows of Royal Society
i. Three Indian Scientist have been elected as the Fellows of The Royal Society, a premier scientific academy of the United Kingdom and the Commonwealth, for their “outstanding contributions to science“.
ii. Krishna Chatterjee from Cambridge University has been recognised for his discoveries of genetic disorders of thyroid gland formation.
iii. Subhash Khot from New York University has been credited for throwing insight into unresolved problems in the field of computational complexity.
iv. Yadvinder Malhi from Oxford University is recognised for his works on understanding the functioning of terrestrial ecosystems and its response to the pressures of global change, including climate change, degradation and loss of large animals.

 

(17). Prabhat Kamal bezboruah 1st non-IAS to head tea board
i. Renowned tea planter from Assam Prabhat Kamal Bezboruah has been named the new chairman of the Tea Board of India by replacing Shri Santosh Sarangi, stated by the Union government.
ii. With this, Bezboruah becomes the first non-IAS and an industry insider to be at the helm of the Kolkata-headquartered Tea Board, the governing body of the industry.

 

(18). Facebook Launches ‘Express Wi-Fi’ in India
i. Facebook has launched its ‘Express Wi-Fi’ commercially in India and the service is now available via 700 hotspots across four states of Uttarakhand, Gujarat, Rajasthan and Meghalaya.
ii. For the expansion of service, Facebook has announced a partnership with Bharti Airtel for setting up an additional 20,000 hotspots covering millions of Indians over the next few months

 

(19). Emmanuel Macron elected as President of France
i. Pro-European centrist leader Emmanuel Macron has been elected as President of France.
ii. Mr. Macron will also become the first President from outside the two traditional main parties since the modern republic’s foundation in 1958.

 

(20). Sachin Tendulkar conferred with Fellowship Award in UK
i. India’s cricket icon Sachin Tendulkar plans to support charities and various initiatives to help the under-privileged people.
ii. He has received the Fellowship Award at the 7th annual Asian Awards in UK. India’s playback singer Adnan Sami won the award for ‘Outstanding achievement in Music’.

 

(21). Saqib Majeed wins 2016 Wisden-MCC Cricket ‘Photograph of the Year’ award

i.Kashmir based freelance photographer Saqib Majeed has bagged prestigious 2016 Wisden-MCC (Melbourne Cricket Council) Cricket ‘Photograph of the Year’ for capturing a stunning image of boys playing cricket at the Nishat garden in the outskirts of Srinagar. ii. With this Saqib Majeed has become the first Kashmiri and second Asian after Atul Kamble to receive the prestigious award.

 

(22). Pakistani sitarist Ustad Raees Khan dies
i. Legendary sitar player Ustad Raees Khan Passed awayd. He was 77.
ii. Ustad Raees was born in 1939 in Indore, India in a family of musicians. He belonged to the Mewati Gharana of Indian classical music.

 

(23). Shiva thapa wins silver at Asian Boxing Championship
i. Indian boxer Shiva Thapa ended up with a silver medal in the 60-kg category at the Asian Boxing Championships in Tashkent, Uzbekistan.
ii. Thapa also became the first boxer from the country to win medals at three consecutive championships. He lost the final match to Elnur Abduraimov from Uzbekistan as he got injured at the beginning of the Match.

 

(24). Great Britain wins Sultan Azlan Shah Cup hockey tournament
i. Great Britain beat Australia 4-3 in a thrilling hockey final of the 26th edition of the Azlan Shah Cup at Ipoh, Malaysia.
ii. This victory came to Great Britain in the Azlan Shah Cup after 23 years. Australia is the world champions and had won the Azlan Shah title nine times. Great Britain becomes the first team from the British Isles to win the Azlan Shah title since 1994.

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