27th & 28th September 2020 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

Here is the daily GK update of 27th & 28th September 2020 covering the following news headlines: Denmark, IRDAI, Lebanon, ADB, RBI, Neetu David, Valtteri Bottas, JIMEX-20.

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 27th & 28th September 2020 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

National News

1. Union Home Minister inaugurates the “Destination North East-2020” Festival

• Union Home Minister Shri Amit Shah has inaugurated the “Destination North East-2020” festival.
• The festival will be held with the theme of “The Emerging Delightful Destinations” which speaks of the tourism destinations emerging stronger and more attractive when the Sector picks up momentum.
• The “Destination North East-2020” festival aims to introduce various cultures of the country to each other along with the tourist destinations of the North East and through this the whole of India will also get familiar with the vibrant and diverse culture of the North East.
• The four-day programme will feature Audio Visual presentation of the tourist spots of the states and the region, messages from state icons and achievers, introduction to prominent local entrepreneurs and virtual exhibition of handicraft/ traditional fashion/ & local products.

2. India & Denmark signs MoU on Intellectual Property cooperation

• India has entered into a Memorandum of Understanding (MoU) with Denmark in the field of Intellectual Property (IP) Cooperation.
• The Department for Promotion of Industry and Internal Trade (DPIIT) signed the MoU with the Danish Patent and Trademark Office, Ministry of Industry, Business and Financial Affairs, Kingdom of Denmark.
• The MoU aims to increase IP cooperation between the two countries by way of exchange of best practices, experiences and knowledge on IP awareness among authorities.
• Both the countries will draw up Biennial Work Plan to implement the MoU which will include the detailed planning for carrying out of the co-operation activities, including the scope of action.
• The MoU will go a long way in fostering the cooperation between India and Denmark, and provide opportunities to both countries to learn from the experience of each other, especially in terms of best practices followed in the other country.

Important takeaways for all competitive exams: 

• Capital of Denmark: Copenhagen; Currency: Danish krone.

3. IRDAI identifies LIC, GIC, New India Assurance as D-SIIs

• The Insurance Regulatory and Development Authority of India (IRDAI) has identified Life Insurance Corporation of India (LIC), General Insurance Corporation of India (GIC) and New India Assurance as domestic systemically important insurers (D-SIIs).
• IRDAI has also subsequently decided to subject the three insurers to enhanced regulatory supervision.
• The Insurance Regulator and Development Authority of India (IRDAI) announced that the three insurers have also been asked to raise the level of corporate governance, identify all relevant risks and promote a sound risk management culture.
• D-SIIs refer to insurers of such size, market importance and domestic and global inter-connectedness whose distress or failure would cause a significant dislocation in the domestic financial system. D-SIIs are perceived as insurers that are ‘too big or too important to fail’ (TBTF).

Important takeaways for all competitive exams: 

• Chairman of Insurance Regulatory and Development Authority of India: Subhash C. Khuntia.

International News

4. Lebanon’s PM designate Mustapha Adib steps down

• The Prime Minister-designate of Lebanon, Mustapha Adib has announced his resignation following his failure to form a new cabinet.
• Mustapha Adib, Lebanon’s former ambassador to Germany, was selected for the post on 31 August 2020.
• The previous government led by Hassan Diab resigned following the Beirut port blast on August 4 that killed some 200 people and left thousands homeless.

Important takeaways for all competitive exams:

State in News

5. ADB approves 300 million dollar loan for Rajasthan’s towns

• The Asian Development Bank (ADB) has approved a 300 million dollar loan to finance inclusive water supply and sanitation infrastructure and services in secondary towns of Rajasthan.
• The project is expected to build citywide access for improved water supply services for about 5.7 lakh people. It will also enhance the sanitation services for about 7.2 lakh people in at least 14 secondary towns.
• Through the project, water supply systems in at least eight project towns are expected to improve by 2027 with about one lakh households including all urban poor households benefiting from five new or rehabilitated water treatment plants and 1,350 km of distribution networks.

Important takeaways for all competitive exams: 

• Chief Minister of Rajasthan: Ashok Gehlot; Governor: Kalraj Mishra.

Banking & Economy News

6. RBI to launch “Positive Pay System” for Cheque Truncation System

• The Reserve Bank of India has announced that it will launch “Positive Pay System” for Cheque Truncation System from 01st January, 2021.
• The “Positive Pay System” will be developed by the National Payments Corporation of India (NPCI) and make it available to participant banks.
• Banks will be required to enable the system for all account holders issuing cheques for amounts of Rs 50,000 and above.
• While availing of this facility is at the discretion of the account holder, banks may consider making it mandatory in case of cheques for amounts of Rs 5,00,000 and above.
• The RBI had announced the Positive Pay mechanism in order to prevent frauds with high value cheques.
• Under this mechanism, cheques will be processed for payment by the drawee bank based on information passed on by its customer at the time of issuance of cheque.
• Banks are advised to create adequate awareness among their customers on features of Positive Pay System through SMS alerts, display in branches, ATMs as well as through their web-site and internet banking.

Important takeaways for all competitive exams: 

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

7. NCAER predicts India GDP for FY21 at -12.6%

• The National Council of Applied Economic Research (NCAER) has projected the GDP growth for the Indian economy at -12.6% For 2020-21 (FY21) with the remaining three quarters expected to witness a fall. For 2021-22, NCAER projects the GDP of India to grow by 7%.

Important takeaways for all competitive exams: 

Appointments

8. Neetu David becomes new head of India women’s selection committee

• The Board of Control for Cricket in India (BCCI) has appointed Neetu David, one of finest woman cricketers of India in the late ’90s and early 2000, as the Chairman of the 5 member women’s national selection panel.
• The other member of the newly-elected panel includes Mithu Mukherjee, Renu Margrate, Arati Vaidya and V Kalpana.
• The Neetu David-led panel has been appointed for a period of four years.
• It replaces the previous panel, led by Hemlata Kala, whose term ended in March 2020. The first assignment of the David-led panel will be to pick three teams for the Women’s T20 Challenge, to held in UAE in November 2020 alongside the IPL play-offs.

Important takeaways for all competitive exams: 

• BCCI interim CEO: Hemang Amin.
• BCCI President: Sourav Ganguly.
• BCCI Headquarters: Mumbai, Maharashtra.
• BCCI Founded: December 1928.

Sports News

9. Valtteri Bottas wins Russian Grand Prix 2020

• Valtteri Bottas (Mercedes-Finland) has won the Formula One Russian Grand Prix 2020 held at Sochi Autodrom, Russia.
• This is his second win of the season. Max Verstappen (Red Bull–Netherlands) came second followed by the 6-time world-champion Lewis Hamilton (Mercedes-Great Britain), who stood third because of penalties.

Defence News

10. India-Japan biennial naval exercise JIMEX-20 begins

• The fourth edition of biennial Japan-India Maritime bilateral Exercise (JIMEX) kicked off in the northern Arabia Sea.
• It is being conducted in a ‘non-contact at-sea-only format’, in view of COVID-19 restrictions. From India, the warships Chennai, Teg, Tarkash and fleet tanker Deepak will represent the Indian Navy, while Japanese warships Kaga and Ikazuchi will represent Japan in the drill.
• JIMEX-20 will showcase a high degree of inter-operability and joint operational skills through the conduct of a multitude of advanced exercises, and further enhance the cooperation and mutual confidence between the two navies.

Important takeaways for all competitive exams: 

• Chief of Naval Staff: Admiral Karambir Singh.

Important Days

11. World Rabies Day: 28 September

• World Rabies Day is observed globally on 28th September every year.
• This day is celebrated to raise awareness about the impact of rabies on humans and animals, provide information and advice on how to prevent the disease and take efforts to control rabies.
• The theme for the 14th WRD in 2020 is ‘End Rabies: Collaborate, Vaccinate’. This year’s theme focuses on vaccination and collaboration.
• The day also marks the death anniversary of the French chemist and microbiologist, Louis Pasteur’, who developed the first rabies vaccine.

Important takeaways for all competitive exams: 

Obituaries News

14. Noted Economist Dr Isher Judge Ahluwalia passes away

• Renowned economist, Dr Isher Judge Ahluwalia passed away.
• She served as the director and then the chairperson of Delhi-based Indian Council for Research on International Economic Relations (ICRIER) for a total of 15 years and built ICRIER into a leading global think tank.
• She was awarded the third-highest civilian award Padma Bhushan in 2009 for her services in the field of education and literature.

15. Former Union Minister Jaswant Singh passes away

• The former Union Minister, Jaswant Singh passed away. He was born in Jasol village of Barmer district in Rajasthan in 1938.
• He had served as the external affairs minister, defence minister and finance minister of India, during the then Prime Minister Atal Bihari Vajpayee’s Cabinet.
• Prior to pursuing a career in politics with the Bharatiya Janata Party (BJP), Mr Singh was an officer in the Indian Army in the 1950s and 60s.
• Jaswant Singh was last elected to the Lok Sabha in 2009. He was expelled from the BJP in 2009 when his book ‘Jinnah: India, Partition, Independence’ was published, in which he reportedly praised the founder of Pakistan, Mohammad Ali Jinnah.

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