Daily GK Update 15th and 16th March 2020: Read Daily GK-Current Affairs Update

Table of Contents

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 15th and 16th March 2020 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

National News

1. GoI pledged $10 million for Covid-19 emergency fund

Government of India has pledged $10 million towards a Covid-19 emergency fund. India has also planned a rapid response team of doctors and specialists for the South Asian Association for Regional Cooperation (Saarc) nations. India suggested Integrated Disease Surveillance Portal (IDSP) that is currently being used to detect infected patients and contact tracing.

Important takeaways for all competitive exams:

SAARC founded: 8 December 1985
Headquarters of SAARC: Kathmandu, Nepal.
Members country of SAARC: Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka.

2. Cabinet hiked dearness allowance of central government employees by 4%

The Union Cabinet chaired by Prime Minister Narendra Modi has approved a 4% hike in Dearness Allowance (DA) for central government employees and Dearness Relief (DR) to pensioners with effect from January 1, 2020. This will be applicable above the existing rate of 17% of the Basic Pay/Pension. The decision is expected to benefit 48 lakh employees and 65 lakh pensioners.

International News

3. Niue declared as world’s first ‘Dark Sky Nation’

The International Dark-Sky Association (IDA) has recognised Niue as a ‘Dark Sky Place’. With this, Niue has become the world’s first whole country to be recognised as a ‘Dark Sky Place’. Niue is a small island nation in the South Pacific Ocean.

Important takeaways for all competitive exams:

Niue Capital: Alofi; Currency of Niue: New Zealand dollar.

State News

4. “Phool Dei” festival commences in Uttarakhand

Uttarakhand celebrates the traditional harvest festival “Phool Dei”. Phool Dei is celebrated on the first day of Chaitra or in mid-March (according to Gregorian calendar). On this traditional festival young girls pluck the first flowers of the season to decorate their houses with flowers and the term ‘Dei’ refers to ceremonial pudding which is the key food in the festival that is made from jaggery, Whiteflour & curd, are offered to everyone.

Important takeaways for all competitive exams:

Governor of Uttarakhand: Baby Rani Maurya.
Jim Corbett National Park is the oldest national park in India and was established in 1936 as Hailey National Park to protect the endangered Bengal tiger. It is located in Nainital district of Uttarakhand.

5. Manipur CM announces CMAST & CMAT scheme to encourage athletes & artists

Manipur Chief Minister N. Biren Singh has announced the scheme for the welfare of sportspersons and artists of the State. These schemes are namely: ‘Chief Minister’s Akhannaba Sanaroising gi Tengbang (CMAST)’ and Chief Minister Artist Sing gi Tengbang (CMAT)’. These schemes would provide benefits to thousands of sportspersons and artistes of the State who have brought laurels to the State and Country.

Important takeaways for all competitive exams:

Governor of Manipur: Najma Heptulla.
Keibul Lamjao National Park is a beautiful place, located in the Bishnupur district of the state of Manipur. The only floating park in the world, located in North East India, and an integral part of Loktak Lake.

Banking News

6. RBI lowers single & group borrower exposure limit for UCBs

The Reserve Bank of India has revised the single borrower and group exposure limit for Urban Cooperative Banks (UCBs). The exposure limit for UCBs has been lowered to reduce the concentration risks originating from large loans. RBI has lowered the single borrower exposure limit for UCBs to 15% of tier I capital. This limit was earlier 15% of tier I and tier II capital. RBI has lowered the group of borrowers exposure limit for UCBs to 25% of tier I capital. This limit was earlier 40% of tier I and tier II capital.

RBI has also decided to increase the Priority Sector Lending (PSL) target for UCBs from 40% to 75% of the Adjusted Net Bank Credit (ANBC), or Credit Equivalent Amount of Off-Balance Sheet Exposure (CEOBSE).

Important takeaways for all competitive exams:

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

Appointments

7. GoI nominates Debasish Panda as director on RBI central board

The Central Government has nominated Debasish Panda as a Director on the Central Board of Reserve Bank of India. He is a Secretary, Department of Financial Services, Ministry of Finance, Government of India, New Delhi. The nomination of Debasish Panda is effective from March 11, 2020, and until further orders.

Important takeaways for all competitive exams:

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

8. Prashant Kumar becomes new MD & CEO of YES Bank

Prashant Kumar has been appointed as Chief Executive and Managing Director of the Yes Bank. Sunil Mehta has been appointed as non-executive chairman of YES Bank. Mahesh Krishnamurthy will serve as a non-executive director of the bank, while Atul Bheda as a non-executive director.

Important takeaways for all competitive exams:

Headquarters of Yes Bank: Mumbai, Maharashtra.
Yes Bank established: 2004.

Ranks and Reports

9. India ranked 12th globally in ‘Women On Board 2020’ study

India has been ranked 12th in the world as per study titled ‘Women On Board 2020’. The list was topped by Norway with 40.72% women on board. A study on ‘Women On Board 2020′ has been done jointly by global recruitment tendering platforms MyHiringClub and Sarkari-Naukri. The study was based on the presence of women in companies’ board globally.

Key results of study on ‘Women On Board 2020’:

Norway topped the list with 40.72% women on board
Around 54% of employees in Asia and 39% in India are women
India ranked 12th in the world in women member presence on board
Among 628 listed companies from India, 55% companies were having women directors

Sports

10. Viktor Axelsen & Tai Tzu Ying wins All England Championship

Viktor Axelsen of Denmark and Tai Tzu Ying of Chinese Taipei have won the men’s and women’s singles title respectively at All England Championship held in Birmingham, England. Viktor Axelsen of Denmark defeated Chinese Taipei’s Chou Tien-chen by 21-13, 21-14 to win the men’s singles title of All England Championship. Tai Tzu Ying of Chinese Taipei defeated Chinese Chen Yu Fei by 21-19, 21-15 to win the women’s singles title of All England Championship.

11. Achanta Sharath Kamal wins men’s singles title in Oman Open

Achanta Sharath Kamal has won the ITTF Challenger Plus Oman Open men’s singles title. He defeated Marcos Freitas of Portugal by 4-2 in the final match.

Important takeaways for all competitive exams:

Oman Capital: Muscat; Currency: Omani rial.

Important Days

12. National Vaccination Day: 16th March

India observes National Vaccination Day every year on 16th March which is also known as National Immunization Day. The day is being celebrated to convey the importance of vaccination to the people of the country. The prime purpose behind the celebration of National Vaccination Day is to make all people aware of arming against polio and eradicating it completely from the world.

Important takeaways for all competitive exams:

World Immunization Week 2020 celebrated in the last week of April (24 to 30 April).
The theme of World Immunization Week 2020: VaccinesWork for All.

13. World Consumer Rights Day observed globally on 15th March

World Consumer Rights Day is celebrated globally on March 15 every yea to raise global awareness about consumer rights and needs. Celebrating World Consumer Rights Day is a chance to demand that the rights of all consumers are respected and protected, and to protest against market abuses and social injustices which undermine those rights.

Theme of World Consumer Rights Day 2020: “The Sustainable Consumer”.

Miscellaneous News

14. Maharashtra approves renaming of Mumbai Central station

The Mumbai Central station is going to be renamed as Nana Shankarseth Mumbai Central railway station. The Maharashtra state government has approved a proposal for renaming the Mumbai Central station as Nana Shankarseth Mumbai Central railway station. Nana Shankarseth was a Maharashtrian philanthropist and an educationist who contributed a lot for the development of Mumbai.

Important takeaways for all competitive exams:

Chief Minister of Maharashtra: Uddhav Thackeray; Governor: Bhagat Singh Koshyari.

15. Microsoft launches website to track COVID-19

Microsoft has launched a web portal to track the spread of COVID-19 worldwide. The web portal has been launched by Microsoft’s Bing team. The portal aims to track the spread of novel coronavirus in the world. The website is accessible at “bing.com/covid” and provides up-to-date infection statistics for each country. The web portal displays the information by aggregating data from sources like the World Health Organization (WHO), the US Centers for Disease Control and Prevention (CDC), and the European Centre for Disease Prevention and Control (ECDC).

Important takeaways for all competitive exams: