29th October 2020 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

Here is the daily GK update of 29th October 2020 covering the following news headlines: India Energy Forum, Kerala, Young Advocates Welfare Fund, SBI, Dr Tulsi Das Chugh Award.

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 29th October 2020 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

National News

1. PM Modi Inaugurates 4th edition of India Energy Forum

• PM Narendra Modi has inaugurated the 4th India Energy Forum by CERAWeek organised by HIS Markit.
• The theme of this edition is “India’s Energy Future in a World of Change”. India is the third-largest and the fastest-growing aviation market in terms of domestic aviation and Indian carriers are projected to increase their fleet size from 600 to 1200 by 2024.
• According to PM, India’s Energy Plan aims to ensure energy justice while fully following India’s global commitments for sustainable growth.
• This means more energy is needed to improve the lives of Indians with a smaller carbon footprint. He envisioned India’s energy sector to be growth-centric, industry-friendly and environmentally conscious.

State News

2. Kerala becomes the first state to fix floor price for vegetables

• Kerala becomes the first state in the country to fix the floor price for vegetables.
• The floor price will be 20 per cent above the production cost of the vegetable. Even if the market price goes below the floor price, the product will be procured at the floor price from the farmers.
• This is the first time in the country that the floor price is being fixed for vegetables produced in the state.

Important takeaways for all competitive exams: 

• Chief Minister of Kerala: Pinarayi Vijayan; Governor: Arif Mohammad Khan.

3. Young Advocates Welfare Fund launched in Tamil Nadu

• The Young Advocates Welfare Fund has been launched in Tamil Nadu. The Young Advocates Welfare Scheme is aimed at helping such fresh candidates to withstand the initial challenges.
• It provides monthly financial assistance of three thousand rupees each for two years to the lawyers who just come out of law colleges.
• Normally a fresher from law colleges takes three to four years to begin practice as an advocate in the court as the registration in the Bar Council, and the mandatory practicing under a senior advocate takes time.
• Unable to sustain themselves during the initial period, many from poor and rural backgrounds shifted their profession.

Important takeaways for all competitive exams: 

• Tamil Nadu Capital: Chennai.
• Tamil Nadu Chief Minister: Edappadi K. Palaniswami.
• Tamil Nadu Governor: Banwarilal Purohit.
• Tamil Nadu State Dance: Bharathanatyam.

4. Odisha CM launches ‘Sumangal’ & Student Scholarship web portals

• Odisha Chief Minister, Naveen Patnaik has launched two web portals named ‘Odisha State Scholarship Portal’ and ‘Sumangal Portal’.
• The former portal is to help eligible students of the state to avail scholarship benefits in a seamless and transparent manner, while the latter one is to help people avail inter-caste marriage incentives.

Important takeaways for all competitive exams:

• Chief Minister of Odisha: Naveen Patnaik.
• Odisha Capital: Bhubaneswar.
• Odisha Governor: Ganeshi Lal.
• Airports in Orissa: Biju Patnaik International Airport, Jharsuguda Airport, Rourkela Airport, Jeypore Airport and Savitri Jindal Airport.

Banking

5. SBI signs $1 billion loan agreement with JBIC

• State Bank of India (SBI) has signed a loan agreement of up to $1 billion with The Japan Bank for International Cooperation (JBIC).
• The loan will facilitate the operations of Japanese car companies in India. The financing will assist in Government of India’s ‘Make in India’ initiative.
• While $600 million will be financed by JBIC, the rest will come from other participating lenders which include the Sumitomo Mitsui Banking Corporation, MUFG Bank, Mizuho Bank, Shizuoka Bank and Bank of Yokohama.
• JBIC will provide a guarantee for the portion co-financed by the participating banks. The loan is intended to promote the smooth flow of funds for the whole range of business operations of Japanese automobile manufacturers in India.

Important takeaways for all competitive exams:

• Chairman of State Bank of India: Dinesh Kumar Khara.
• SBI Founded: 1 July 1955
• SBI Headquarters: Mumbai, Maharashtra.
• Japan Bank for International Cooperation Headquarters: Tokyo, Japan.
• President & CEO of Japan Bank for International Cooperation: Tadashi Maeda.
• Japan Bank for International Cooperation Founded: 1 October 1999.

Agreement News

6. India Post, US Postal Service sign pact for electronic exchange of customs

• Indian Posts & US Postal Service entered into an agreement for the electronic exchange of customs data related to postal shipments. It will enable to transmit & receive electronic data of international postal items prior to their physical arrival.
• The agreement will make it possible to transmit and receive electronic data of international postal items prior to their physical arrival at the destination and would enable customs clearance of postal items in advance in line with the evolving global postal framework.

Important takeaways for all competitive exams:

• Indian Post Headquarters: New Delhi.
• Director-General of Indian Post: Arundhaty Ghosh.

7. DMRC & SBI card launch multi-purpose smart card

• The SBI Card in association with the Delhi Metro Rail Corporation launched a contactless multi-purpose card that can function as a credit card and as a metro smart card.
• The credit card Delhi Metro SBI Card is designed for regular commuters on Delhi Metro.
• It will enable its users to use it as a smart card with an auto-top up facility whenever the balance is below Rs 100.
• The credit card facility will automatically recharge a top-up value of Rs 200 from the user’s linked card/bank account.
• The card offers an enhanced daily commute experience to millions of metro commuters together with a rewarding experience on their daily purchases.
• The DMRC has identified 100 stations to put up kiosks from where commuters can purchase the card.

Important takeaways for all competitive exams:

• CEO of SBI Card: Ashwini Kumar Tewari; Founded: October 1998.
• SBI Card Headquarters: Gurugram, Haryana.

Books and Authors

9. A book titled “Night of the Restless Spirits” authored by Sarbpreet Singh

• A book titled “Night of the Restless Spirits: Stories from 1984″ authored by Sarbpreet Singh. The author Sarbpreet Singh’s recounts the Sikh massacre of 1984 in this book.
• The book is a fictionalised version of real happenings comprising just eight chapters. It shows the events of 1984 through the prism of many lives & impact on Sikhs. The book is published by Penguin Publication.

Miscellaneous

10. Vice President launches virtual festival of ‘Parampara Series 2020

• Vice President, M Venkaiah Naidu has launched the virtual festival of “Parampara Series 2020-National Festival of Music and Dance” organised by Natya Tarangini in partnership with the United Nations. Natya Tarangini has been organising this for the past 23 years.
• This dance and music festival as the normal life has been disrupted by lockdowns, economic downturns and lack of social interaction caused by the pandemic. It may be noted that this festival has been organized to coincide with the World Day for Audio-visual Heritage.

Important takeaways for all competitive exams: 

• UN HQ: New York, USA.
• UN Secretary-General: Antonio Guterres.

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29th October Current Affairs 2020 | Current Affairs Today | Daily Current Affairs 2020

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