08th May 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

Business News

4. RBI excludes Lakshmi Vilas Bank from second schedule of RBI Act

• The Reserve Bank of India (RBI) has excluded Lakshmi Vilas Bank (LVB) from the Second Schedule of the RBI Act after it was merged with DBS Bank India Ltd (DBIL) last year.
• A bank mentioned in the Second Schedule of the Reserve Bank of India Act is known as ‘Scheduled Commercial Bank’. 
• Last year in November, the government had approved the merger of crisis-ridden Lakshmi Vilas Bank with DBS Bank India. The RBI had also superseded the board of the LVB and appointed T N Manoharan, former non-executive chairman of Canara Bank, as the administrator of the bank for 30 days.
• LVB is the second private sector bank after Yes Bank which has run into rough weather during this year.
• In March, capital-starved Yes Bank was placed under a moratorium. The government rescued Yes Bank by asking the state-run State Bank of India to infuse Rs 7,250 crore and take a 45 per cent stake in the bank.

Important takeaways for all competitive exams:

• Lakshmi Vilas Bank Headquarters: Chennai, Tamil Nadu.
• Lakshmi Vilas Bank Founded: 1926.

Summits and Conferences News

5. Prahlad Singh Patel Virtually Participates In G20 Tourism Ministers’ Meeting

• Union Minister of State for Tourism & Culture (I/c), Prahlad Singh Patel participated in G20 Tourism Ministers’ Meeting held in Italy on 4th May 2021.
• This dialogue aimed to collaborate in protecting tourism businesses, jobs and taking initiatives to frame policy guidelines to support the sustainable and resilient recovery of travel and tourism.
• He also conveyed India’s support for the Principles for the transition to a green travel and tourism economy submitted by UNWTO as a further contribution to the policy area “Green Transformation” to embrace sustainability in tourism.

Important Days

6. World Red Cross and Red Crescent Day: 8 May

• The World Red Cross and Red Crescent Day is observed every year on 8 May. The day aims to celebrate the principles of the International Red Cross and Red Crescent Movement, to reduce the suffering of people and enabling them to lead a dignified life with independence, humanity, impartiality, universality, unity and neutrality.
• Theme 2021 World Red Cross and Red Crescent Day: ‘Unstoppable’.
• The day also marks the anniversary of the birth of Henry Dunant (8 May 1828), who was the founder of the International Committee of the Red Cross (ICRC). He was the recipient of the first Nobel Peace Prize.

Important takeaways for all competitive exams:

• President of the ICRC: Peter Maurer.
• Headquarters of ICRC: Geneva, Switzerland.

7. World Thalassemia Day: 08 May

• World Thalassemia Day is celebrated on May 8 every year to commemorate Thalassemia victims and to encourage those who struggle to live with the disease.
• The theme for 2021 World Thalassemia Day is “Addressing Health Inequalities Across the Global Thalassaemia Community”.
• Thalassemia is an inherited blood disorder that is characterised by less haemoglobin and lesser than normal blood cells. A person suffering from thalassemia has at least one of the parents as a carrier of the disease.

8. World Migratory Bird Day: 08 May

• World Migratory Bird Day 2021 is observed globally on 8 May. The aim of the day is to raise awareness of migratory birds and the importance of international cooperation to conserve them.
• “Sing, Fly, Soar – Like a Bird!” is the theme of this year’s World Migratory Bird Day.
• The 2021 World Migratory Bird Day theme is an invitation to people everywhere to connect and re-connect with nature by actively listening to – and watching birds – wherever they are.
• At the same time, the theme appeals to people around the world to use their own voices and creativity to express their shared appreciation of birds and nature.

9. Time of Remembrance and Reconciliation for Those Who Lost Their Lives during the 2nd World War

• Every year during May 8-9, the United Nations marks the Time of Remembrance and reconciliation for those who lost their lives during the Second World War.
• The day pays tribute to all the victims of the Second World War. This year is the 76th Anniversary of World War II.
• The day was declared in 2004 as was commemorated by the United Nations since then. However, the UN urged the NGOs, its member countries and other organizations to join the commemoration of the day through a resolution that was passed in 2010.
• The date, however, is not the official end of the second world war. This is because, Japan did not surrender till August 15, 1945.

Important takeaways for all competitive exams:

• Secretary-General of the United Nations: Antonio Guterres.
• The United Nations (UN) is an organization between countries established on 24 October 1945 to promote international cooperation.

Obituaries News

10. Senior Journalist Shesh Narayan Singh Passes Away of Covid-19

• Veteran senior journalist Shesh Narayan Singh has passed away while undergoing treatment for COVID-19. He was 70.
• A columnist, political commentator and an expert on foreign policy, Shesh Narain Singh had a career spanning over two decades.

11. Veteran Music Composer Vanraj Bhatia Passes Away

• The veteran Music Composer Vanraj Bhatia, who was the best-known composer of Western classical music in India, has passed away after a brief illness. His work ranged from composing music for advertisement films, feature films, mainstream films, television shows, documentaries etc.
• Bhatia won the National Film Award for Best Music Direction for the television film Tamas (1988), the Sangeet Natak Akademi Award for Creative and Experimental Music (1989) and India’s fourth-highest civilian honour, the Padma Shri (2012).