07th October 2020 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

Here is the daily GK update of  07th October 2020 covering the following news headlines: Sittwe port, Vigraha, Nobel Prize in Chemistry 2020, NCERT books,  RBI’s MPC members.

Daily GK updates are incorporated with the important news that made the current affairs headlines for banking or other competitive exams. Daily GK Update 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 07th October 2020 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

National News

1.Indian-built Sittwe port in Myanmar to be operational in 2021

• India and Myanmar are working towards the operationalization of the Sittwe port in the Rakhine state of Myanmar in the first quarter of 2021.
• The port is part of the Kaladan multi-modal transit transport project which is being viewed as India’s gateway to Southeast Asia.
• Sittwe Port is a deepwater port constructed by India in 2016 at Sittwe, the capital of Rakhine State in Myanmar, on the Bay of Bengal.
• The port will connect India’s landlocked northeastern region with the Bay of Bengal through Mizoram.

Important takeaways for all competitive exams: 

• Capital of Myanmar: Naypyitaw.
• The currency of Myanmar: Burmese kyat.
• President of Myanmar: Win Myint.

Defence News

2. Indian Coast Guard 7th Offshore Patrol Vessel ‘Vigraha’ launched

• The seventh offshore patrol vessel of the Indian Coast Guard (ICG), ”Vigraha” was formally unveiled at the Kattupalli port, Chennai, Tamil Nadu.
• The vessel, built by Larsen and Toubro, is the last in the series of seven OPVs contracted to the company by the Ministry of Defence in 2015.
• It was the first time a private sector shipyard has undertaken the design and construction of offshore patrol vessel class of ships.

Important takeaways for all competitive exams: 

• Indian Coast Guard Director General: Director General Krishnaswamy Natarajan.
• Indian Coast GuardFounded: 18 August 1978.
• Indian Coast Guard Headquarters: Ministry of Defence, New Delhi.

Awards News

3. Nobel Prize in Chemistry 2020 announced

• The 2020 Nobel Prize in Chemistry is awarded to Emmanuelle Charpentier and Jennifer A. Doudna “for the development of a method for genome editing”.
• The Nobel Prize in Chemistry is awarded by The Royal Swedish Academy of Sciences, Stockholm, Sweden.
• Emmanuelle Charpentier and Jennifer A. Doudna have discovered one of gene technology’s sharpest tools: the CRISPR/Cas9 genetic scissors.
• Using these, researchers can change the DNA of animals, plants and microorganisms with extremely high precision.
• This technology has had a revolutionary impact on the life sciences, is contributing to new cancer therapies and may make the dream of curing inherited diseases come true.

Agreement News

4. NCERT books to be converted into Indian Sign Language

• According to Ministry of Social Justice and Empowerment, a Memorandum of Understanding (MoU) has been signed between the Indian Sign Language Research and Training Center (ISLRTC) and the National Council of Educational Research and Training (NCERT) to make educational materials accessible for hearing impaired children.
• It is a historic decision for people with difficulties in speaking or hearing and will empower differently-abled persons.

Important takeaways for all competitive exams: 

• Minister of Social Justice and Empowerment: Thaawar Chand Gehlot.

Summits and Conferences

5. Quad Countries’ Foreign Minister Meet held in Tokyo

• Quad Countries’ Foreign Minister meet held in Tokyo, Japan. All four Quad countries the United States, Japan, India and Australia to hold bilateral discussions over “Free and Open Indo-Pacific” (FOIP) initiative amid coronavirus pandemic.
• This is the second Quad FM meeting. The first was held in 2019.
• The Quad FM meeting was represented by External Affairs Minister of India S Jaishankar, US Secretary of State Mike Pompeo, Australian Foreign Minister Marise Payne, and Japanese Foreign Minister Toshimitsu Motegi.
• They discussed the post-COVID-19 international order and the need for a coordinated response to the various challenges emerging from the pandemic.

Banking News

6. GoI appoints three new economists as RBI’s MPC members

• The Government of India has appointed three new economists as members of the six-member rate-setting Monetary Policy Committee(MPC) of the Reserve Bank of India (RBI).
• The government had formed a committee for selection of these three new members of MPC.
• This search-cum-selection committee for MPC was headed by Economic Affairs Secretary Tarun Bajaj.

The new members are:

• Prof. Ashima Goyal, a professor at the Mumbai-based Indira Gandhi Institute of Developmental Research
• Prof. Jayanth R Varma, a professor of finance at the Indian Institute of Management in Ahmedabad
• Dr. Shashanka Bhide, an agricultural economist and a senior adviser with the National Council of Applied Economic Research in New Delhi

Important takeaways for all competitive exams: 

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

7. ICICI Bank offers debit card for customers availing LAS

• ICICI Bank has launched a debit card facility for the customers availing the Loan Against Securities (LAS) from the Bank. The debit card is available on the Visa platform.
• With this launch, ICICI Bank has become the first bank in India to launch such a facility.
• The LAS debit can be used by customers across all domestic merchant establishments to make seamless POS and online transactions like payments on e-commerce portals among others, using their sanctioned LAS amount.

Important takeaways for all competitive exams: 

• ICICI Bank Headquarters: Mumbai, Maharashtra.
• ICICI Bank MD & CEO: Sandeep Bakhshi.
• ICICI Bank Tagline: Hum Hai Na, Khayal Apka.

Appointments

8. Dinesh Kumar Khara becomes new Chairman of SBI

• The government of India has appointed Dinesh Kumar Khara as the new Chairman of State Bank of India for a period of three years. His appointment is effective from October 7.
• Currently, Khara is the Managing Director in-charge of Global Banking & Subsidiaries.
• The Banks Board Bureau (BBB) had recommended Khara for the post of Chairman of SBI on August 28, ruling out an extension to Rajnish Kumar, whose term is ending on October 6.

Important takeaways for all competitive exams: 

• SBI Founded: 1 July 1955
• SBI Headquarters: Mumbai, Maharashtra.

9. IPS officer MA Ganapathy appointed DG of BCAS

• Senior IPS officer, M A Ganapathy has been appointed as the Director-General of Bureau of Civil Aviation Security (BCAS). He is a 1986 batch IPS officer of Uttarakhand cadre.
• The post of BCAS chief fell vacant after Rakesh Asthana was appointed as the Director-General of Border Security Force in August.

Important takeaways for all competitive exams: 

• Bureau of Civil Aviation Security Founded: 1978.
• Bureau of Civil Aviation Security Headquarters: New Delhi.

Science and Technology

10. C-DAC to commission India’s fastest Supercomputer ‘PARAM Siddhi – AI’

• The Centre for Development of Advanced Computing (C-DAC) will be commissioning India’s largest HPC-AI supercomputer ‘PARAM Siddhi – AI’.
• This initiative will place India among the top countries in global AI supercomputing research and innovation.
• The initiative was headed by Abhishek Das, Scientist and Program Director (HPC-AI Infrastructure Development) at C-DAC, who conceived the idea and designed the architecture for the largest HPC-AI infrastructure in India.

Important takeaways for all competitive exams: 

• C-DAC Director General: Hemant Darbari.
• C-DAC Established: 1988.
• C-DAC Headquarters: Pune, Maharashtra.

Important Days

11. World Cotton Day: 07 October

• World Cotton Day (WCD) is observed globally on 7th October since 2019.
• The international day aims to celebrate the advantages of cotton, ranging from its qualities as a natural fibre to the benefits people obtain from its production, transformation, trade and consumption.

Important takeaways for all competitive exams: 

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