01st May 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

Business News

3. SIDBI launches SHWAS and AROG Loan Schemes for MSMEs

• The Small Industries Development Bank of India (SIDBI), has launched two loan products for MSMEs to help them with the required financial support in the fight against the COVID-19 pandemic.
• These two new quick credit delivery schemes will facilitate funding for production and services related to the supply of oxygen cylinders, oxygen concentrators, oximeters and essential drugs by MSMEs.

The two new loan products are:

• SHWAS – SIDBI assistance to Healthcare sector in War Against Second wave of COVID19.
• AROG – SIDBI Assistance to MSMEs for Recovery & Organic Growth during COVID19 pandemic.
• The schemes are devised under the guidance of the Government of India (GoI) which facilitates funding for production and services related to the supply of oxygen cylinders, oxygen concentrators, oximeters and essential drugs.

Important takeaways for all competitive exams:

• CMD of SIDBI: S Ramann;
• SIDBI set up on 2nd April 1990;
• SIDBI Headquarters: Lucknow, Uttar Pradesh.

Appointments News

4. Amitabh Chaudhry Re-appointed as MD & CEO of Axis Bank

• Amitabh Chaudhry has been re-appointed as the Managing Director and CEO of the private sector lender Axis Bank for three more years by the bank board. His second 3 years term will begin with effect from January 1, 2022, up to December 31, 2024.
• Chaudhry was first appointed as Managing Director (MD) and CEO of Axis Bank for a period of three years, with effect from January 1, 2019 up to December 31, 2021. Prior to that, he was the MD and CEO of HDFC Standard Life Insurance Company.

Important takeaways for all competitive exams:

• Axis Bank Headquarters: Mumbai;
• Axis Bank Founded: 1993.

Agreements News

5. TRIFED inks MoU with ‘The LINK Fund’ for tribal development

• Tribal Co-operative Marketing Federation of India (TRIFED), has entered into a Memorandum of Understanding (MoU) with The LINK Fund, for a collaborative project titled “Sustainable Livelihoods For Tribal Households in India”.  Under the project, both the organisations will work together towards:
• Tribal Development and Employment Generation, by providing support to tribals for increasing value addition in their produce and products;
• Sustainable livelihoods and value addition, for the increase in income and employment generation through technological intervention for efficiency in value addition for MFPs, produce and crafts diversification, skill training and enhancement of value additions in minor forest produce.

6. Indian Bank signs MoU with BSNL

• Indian Bank signed an MoU with Bharat Sanchar Nigam Limited to provide seamless telecom services to the Indian Bank at competitive market rates. This means the telco might be availing its services to the bank for a lower market rate than usual.
• The bank is already using the services of BSNL and Mahanagar Telephone Nigam Limited for its Wide Area Network across the country Dr VK Sanjeevi, chief general manager of Chennai Telephones said that BSNL and its subsidiary MTNL is connecting 5,000 branches and ATMs of Indian Bank.

Important takeaways for all competitive exams:

• Indian Bank Headquarters: Chennai, Tamil Nadu.
• Indian Bank CEO: Padmaja Chunduru.
• Indian Bank Tagline: Your Own Bank, Banking That’s Twice As Good.
• Bharat Sanchar Nigam Limited Chairman & MD: Pravin Kumar Purwar.
• Bharat Sanchar Nigam Limited Headquarters: New Delhi.

Ranks and Reports News

7. LIC Among Top Ten Most-Valuable Insurance Brand Globally

• The state-owned insurance behemoth ‘Life Insurance Corporation (LIC)’ has emerged as the third strongest and the tenth most valuable insurance brand globally, in Brand Finance Insurance 100 report for 2021.
• The annual report is released by London-based brand valuation consultancy firm Brand Finance, to identify the most valuable and strongest insurance brands globally.

According to the report:

1. Most Valuable Indian Insurance Brand – LIC (10th)
2. Most Strongest Indian Insurance Brand – LIC (3rd)
3. Most Valuable Global Insurance Brand – Ping An Insurance, China
4. Most Strongest Global Insurance Brand – Poste Italiane, Italy

Important Days

8. International Workers’ Day: 1st May

• International Labour Day (also known as May Day or International Workers’ Day) is celebrated across the world on the 1st of May every year.
• The day celebrates the struggle, dedication and commitment of the working class and is an annual public holiday in several countries.
• On 1 May 1886, Chicago and a few other cities were the sites of a major union demonstration in support of the eight-hour workday demand.
• In 1889, the International Socialist Conference declared that in commemoration of the Haymarket affair, 1 May would be an international holiday for the labour force, now known as International Workers’ Day.

Important takeaways for all competitive exams:

• Headquarters of International Labour Organization: Geneva, Switzerland.
• President of International Labour Organization: Guy Ryder.
• International Labour Organization Founded: 1919.

Obituaries New

9. Senior TV Journalist Rohit Sardana Passes Away

• Renowned TV journalist and news anchor, Rohit Sardana, has passed away, due to a heart attack, following the deadly COVID-19 infection. The young journalist was just 41-year-old. Sardana was associated with Zee News since 2004, before moving to AajTak in 2017.
• With Zee News, he hosted Taal Thok Ke, a programme that discusses contemporary issues in India, while with AajTak, he was hosting the debate show ”Dangal.” Sardana was awarded the Ganesh Shankar Vidyarthi Puraskar by the Indian government in 2018.

Miscellaneous News

10. Vaishali Hiwase becomes 1st woman to be appointed officer commanding in BRO

• Vaishali S Hiwase became the first woman officer to be appointed as officer commanding in the Border Roads Organisation (BRO) where she will be responsible for providing connectivity through an Indo-China border road. Vaishali is from Wardha, Maharashtra, and has completed a successful demanding tenure in Kargil.
• In a first, the Border Roads Organisation (BRO) has appointed a woman officer to command a Road Construction Company (RCC) tasked to provide connectivity in a high-altitude area along the India-China border.

Important takeaways for all competitive exams: