12th December 2020 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

Here is the Daily GK Update of 12th December 2020 covering the following news headlines: Time’s ‘Person of the Year, APVAX, RBL Bank, ICICI Prudential, Water Impact Summit.

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 12th December 2020 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

International News

1. Joe Biden, Kamala Harris jointly named Time’s ‘Person of the Year’ 2020

• US President-elect, Joe Biden and Vice President-elect Kamala Harris have been jointly named Time magazine’s 2020 “Person of the Year”.
• The TIME magazine releases the annual list since 1927, to recognise a person or organisation who affected the news or impacted the country and world the most, for better or worse, during the calendar year.
• Apart from this, Time magazine has named the Korean pop group BTS as its Entertainer of the Year, and basketball star LeBron James as Athlete of the Year.
• Zoom founder Eric Yuan was aptly named Businessperson Of The Year, as the video communications company has come to define the way millions have connected with each other during the pandemic.

2. ADB launches $9 bn “APVAX” for Developing Countries

• The Manila-based Asian Development Bank (ADB) has launched an initiative called, the Asia Pacific Vaccine Access Facility (APVAX), for its developing member countries. The bank has allocated USD 9 billion for APVAX.
• APVAX will play a critical role in helping our developing members meet these challenges, overcome the pandemic, and focus on economic recovery.
• Through APVAX, the ADB will offer rapid and equitable support to its developing members, who need financing to procure vaccines as well as offer appropriate plans and knowledge to be able to safely, equitably and efficiently manage and deliver the COVID-19 vaccine.

Business News

3. RBL Bank, ICICI Prudential join hands for Bancassurance partnership

• RBL Bank and ICICI Prudential have joined hands under a bancassurance partnership. 398 RBL Bank branches across 28 states will distribute ICICI Prudential Life’s protection and savings products.
• The protection products of ICICI Prudential Life will help the bank’s customers to develop a strong financial plan and its long-term savings products will help the customers of the bank to achieve their financial goals.
• This partnership will allow more than 8.7 million customers of RBL Bank to access and purchase ICICI Prudential Life’s customer-centric protection and long-term savings products.
• It provides financial security to the customers and their families through life insurance cover.
• It will deepen and strengthen the multi-channel distribution network of ICICI Prudential Life.
• It will also accelerate the value creation for the bank and ICICI Prudential Life.

Important takeaways for all competitive exams:

• RBL Bank Ltd Incorporated: 1943, under the Indian Companies Act, 1913
• RBL Bank Ltd MD and CEO: Vishwavir Ahuja.
• RBL Bank Ltd Headquarters: Mumbai, Maharashtra.
• RBL Bank Ltd Tagline: Apno Ka Bank.
• The bank’s name was changed from ‘The Ratnakar Bank Limited’ to ‘RBL Bank Limited’ in August 2014.
• ICICI Prudential Life Insurance Ltd Commenced Operations: 2001.
• ICICI Prudential Life Insurance Ltd HeadOffice: Mumbai, Maharashtra.
• ICICI Prudential Life Insurance Ltd MD & CEO: N S Kannan.

Summits and Conferences News

6. BSNL launches World’s 1st Satellite-based Narrowband-IoT Network

• Bharat Sanchar Nigam Limited (BSNL) has partnered with Skylotech India (Skylo), a global machine connectivity solutions company, to launch satellite-based narrow band-Internet of things (NB-IoT).
• This initiative is the world’s first satellite-based NB-IoT network.
• The new indigenous IoT solution has been developed by Skylo and will connect with BSNLs satellite- ground infrastructure to provide PAN-India coverage, including Indian seas. To begin with, the solution will be extended to fishermen, farmers, construction, mining and logistics enterprises.
• The solution is in line with BSNL’s vision to leverage technology to provide affordable and innovative telecom services and products across India’s core sectors.

Important takeaways for all competitive exams:

Important News

7. International Day of Neutrality: 12 December

• International Day of Neutrality is a United Nations recognized day held on December 12 each year to raise public awareness of the value of neutrality in international relations.
• It was officially declared by a UN General Assembly resolution adopted in February 2017 and first observed on December 12, 2017.

8. International Universal Health Coverage Day: 12 December

• International Universal Health Coverage Day is a United Nations’ recognized international day celebrated every year on December 12.
• The Day aims to raise awareness of the need for strong and resilient health systems and universal health coverage with multi-stakeholder partners.
• This year theme of International Universal Health Coverage Day is ‘Health For All: PROTECT EVERYONE’. The theme reflects that to end this crisis (COVID-19) and build a safer and healthier future, we must invest in health systems that protect us all—now.

Obituaries

9. Italy’s 1982 World Cup hero Paolo Rossi passes away

• Paolo Rossi of Italy, who scored 6 goals in the 1982 World Cup, passed away.
• He is the only male player in history to win the World Cup, the Golden Boot, the Golden Ball and Ballon d’Or in the same year. In 1982 was Italy’s first victory after 1938.

Miscellaneous News

10. Lakshadweep becomes India’s 1st UT to be declared 100% Organic

• The Ministry of Agriculture has declared Lakshadweep as India’s first Union Territory to become 100 per cent organic.
• All farming activity in the UT is carried out without the use of synthetic fertilisers and pesticides, which provides access to safer food choices and making agriculture a more environment-friendly activity.
• Lakshadweep is second only to Sikkim, which was India’s first state to be declared completely organic. This comes after the UT received proper certifications and declarations under the Centre’s Paramparagat Krishi Vikas Yojana (organic farming improvement programme).

Important takeaways for all competitive exams:

• Lakshadweep Capital: Kavaratti.
• Lakshadweep Administrator: Praful Khoda Patel.

Check More GK Updates Here

12th December Current Affairs 2020 | Current Affairs Today | Daily Current Affairs 2020

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