Current Affairs 3rd January 2019: Daily GK Update |

Dear Aspirants,

The General Awareness Section of Banking Exams covers numerous sections in it like Banking Awareness, Static GK, and Current Affairs. But the most important thing that you might have noticed is that both the Banking Awareness and Static Awareness questions asked in the General Awareness Section are based on Current Affairs only. The questions on Static and Banking Awareness are related to the countries, events or anything that has been in news for a while. Here is the Daily GK Update to get you acquainted with the top events that made the headlines today!!

Current-Affairs-3rd-January-2019-2018-Daily-GK-Update

National News

1. Cabinet Approves Setting Up HLC for Implementation of Assam Accord

Current Affairs 3rd January 2019: Daily GK Update |_3.1

i. The Union Cabinet took several key decisions including setting up of a high-level committee (HLC) to implement Clause 6 of Assam Accord to hold discussions with all stakeholders on the quantum of reservation of seats in Assam Legislative Assembly and local bodies for Assamese people among other decisions.

ii. Union Cabinet has approved the setting up a high-level committee for implementation of clause 6 of the Assam Accord and measures envisaged in the Memorandum of Settlement, 2003 and other issues related to Bodo community.

2. RBI Forms Expert Panel On MSMEs Under Ex-SEBI Chief UK Sinha

Current Affairs 3rd January 2019: Daily GK Update |_4.1

i. The Reserve Bank of India (RBI) set up an expert committee under former Sebi chairman U.K. Sinha to suggest long-term solutions for the economic and financial sustainability of the MSME sector.

ii. RBI has announced the panel a day after it allowed a one-time restructuring of existing debt up to INR 25 crore for the micro, small and medium enterprises (MSMEs) which have defaulted on payment but the loans given to them have continued to be classified as standard assets.

3. Veer Savarkar International Airport in Port Blair Declared As Authorized Immigration Check Post

Current Affairs 3rd January 2019: Daily GK Update |_5.1

i. Veer Savarkar International Airport in Port Blair has been declared as an authorized Immigration Check post for entry into/exit from India with valid travel documents for all classes of passengers.

ii. The announcement was made by Information, Public Relations and Tourism Division of Andaman and Nicobar Administration. This decision of the Union Government will open up the Port Blair Airport for direct international flight and immigration facilities.

Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:

Port Blair is the capital of Andaman and Nicobar.

4. PM Modi Inaugurated 106th Indian Science Congress At Jalandhar

Current Affairs 3rd January 2019: Daily GK Update |_6.1

i. Prime Minister Narendra Modi has inaugurated the 106th Indian Science Congress (ISC-2019) at Jalandhar, Punjab. The ISC is an annual congregation that witnesses deliberations by top scientific minds of the country.
ii. The theme for which is ‘Future: India-Science and Technology’. This will be his 5th address to Indian Science Congress after assuming office as Prime Minister.

5. West Bengal Government Announced 2 Initiatives for Farmers

Current Affairs 3rd January 2019: Daily GK Update |_7.1

i. The West Bengal government announced two welfare initiatives for farmers. Both initiatives, which are part of the ‘Krishi Krishak Bondhu’ scheme, will come into effect from 1st January 2019.
ii The first of the two initiatives will provide Rs 2 lakh to the family of a deceased farmer. Under the second initiative, farmers would get Rs 2,500 twice a year for growing a single crop on one acre of land.

Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:

West Bengal CM: Mamata Banerjee, Governor: Keshari Nath Tripathi.

6. Centre Approves Renaming Of Allahabad As Prayagraj

Current Affairs 3rd January 2019: Daily GK Update |_8.1

i. Days before Kumbh Mela, the Union Home Ministry has approved the Uttar Pradesh government’s proposal to rename Allahabad as Prayagraj. In October 2018, the Yogi Adityanath-led government had proposed the change in name of Allahabad to Prayagraj.
ii. A No Objection Certificate (NOC) from the MHA will now ensure that names of other institutes in the district, including railway station, High Court and university, are also changed.

Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:

Agartala Airport renamed as Maharaja Bir Bikram Manikya Kishore Airport.
British-era railway station Robertsgang renamed as Sonbhadra.
Iconic Mughalsarai junction renamed after Deen Dayal Upadhyay.
Chhatrapati Shivaji International Airport in Mumbai renamed as Chhatrapati Shivaji ‘Maharaj’ International Airport.

7. Important Cabinet Approvals: 2nd January 2019

Current Affairs 3rd January 2019: Daily GK Update |_9.1

i. The Union Cabinet chaired by Prime Minister Narendra Modi has given the following set of approvals. The important Cabinet Approvals are given as follows:
ii. The Cabinet has approved-
1. Apprised of MoU between India and Morocco on Cooperation in the area of Cyber Security.
2. Apprised of Progress under NHM and Decisions of Empowered Programme Committee and Mission Steering Group of NHM.
Find Complete Set of Agreements Here

Ranks and Reports

8. Complaints With Bank Ombudsman Surge 25% In FY18: RBI Report

Current Affairs 3rd January 2019: Daily GK Update |_10.1

i. The number of complaints registered at banking ombudsman offices have seen a 25% increase in the fiscal year 2018, with the majority of these complaints coming from urban centres owing to increased awareness and poor internal redressal mechanisms of banks.

ii. “The banking ombudsman offices in tier-1 cities like New Delhi, Mumbai, Chennai, Kolkata, Bengaluru and Hyderabad accounted for more than 57% of the total complaints received by all BO offices,” the RBI Report on Trend and Progress of Banking in India has stated.

Appointments

9. Saurabh Kumar Appointed As Chairman Of Ordnance Factory Board

Current Affairs 3rd January 2019: Daily GK Update |_11.1

i. Saurabh Kumar has been appointed as the Director General of Ordnance Factories (DGOF) and chairman of the Ordnance Factory Board (OFB). Kumar, a 1982-batch Indian Ordnance Factory Service officer, is an M-Tech in mechanical engineering from the Indian Institute of Technology (IIT), Kanpur.

ii. An expert in the manufacture of ordnance, Kumar was on deputation to the Ministry of Defence as the director of planning and coordination from 2002 to 2009.

Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:

Ordnance Factory Board Headquarters: Kolkata.

10. Hemant Bhargava Appointed LIC’s Acting Chairman

Current Affairs 3rd January 2019: Daily GK Update |_12.1

i. The government has appointed Hemant Bhargava, Managing Director, Life Insurance Corporation of India, as the Acting Chairman.

ii. The move comes after VK Sharma retired from the top job at LIC on December 31. While traditionally the senior-most MD is appointed the chairman, Bhargava is due to retire in July 2019.

Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:

Life Insurance in its modern form came to India from England in the year 1818.
Oriental Life Insurance Company started by Europeans in Calcutta was the first life insurance company on Indian Soil.
LIC Headquarters in Mumbai.

Banking News

11. Cabinet Approves Merger of Vijaya Bank & Dena Bank With Bank of Baroda

Current Affairs 3rd January 2019: Daily GK Update |_13.1

i. The cabinet has approved the merger of Vijaya Bank & Dena Bank with Bank of Baroda. After this merger, Bank of Baroda will become the third biggest public sector bank. The merger will be effective from April 1. This is also the first ever three-way merger in Indian banking.

ii. Bank of Baroda (BoB) finalised the share swap ratio for the merger of Vijaya Bank and Dena Bank with itself. As per the Scheme of Amalgamation, shareholders of Vijaya Bank will get 402 equity shares of BoB for every 1,000 shares held. In case of Dena Bank, its shareholders will get 110 shares for every 1,000 shares of BoB.

Obituaries

12. Sachin’s Coach Ramakant Achrekar Passes Away

Current Affairs 3rd January 2019: Daily GK Update |_14.1

i. Veteran cricket coach Ramakant Achrekar, who trained Bharat Ratna Sachin Tendulkar and Vinod Kambli, among others, passed away following a heart attack.

ii. He was 87 and breathed his last at his home in Dadar. Achrekar, honoured with Padma Shri in 2010 and Dronacharya Award in 1990, was instrumental in shaping the careers of Tendulkar, Kambli and over a dozen other top cricket stars.

13. Veteran Kannada Actor CH Loknath Passes Away

Current Affairs 3rd January 2019: Daily GK Update |_15.1

i. Veteran Kannada actor CH Lokanath passed away after suffering cardiac arrest. He was 91. Lokanath was in the Kannada film industry for nearly six decades and was affectionately addressed as ‘Uncle Lokanath’ by his fans.

ii. He had acted in over 600 movies and more than 1,000 plays. His famous movies are Bhootayyana Maga Ayyu, Minchina Ota, Nagarahaavu, Nodi Swami Navidru Heege, Katha Sangama and Kittu Puttu.