Sunday, 31 December 2017

Current Affairs - December 31, 2017

Here's your daily summary of Current Affairs.

IDBI Bank receives capital infusion of Rs 2729 cr from Government of India

Public sector IDBI Bank has received the capital infusion of Rs 2,729 cr from the government of India. The government had in October 2017 unveiled a Rs 2.11 lakh cr two-year roadmap for strengthening NPA-hit public sector banks. The help includes recapitalisation bonds, budgetary support, and equity dilution. The stock of the bank closed 0.83% down at Rs 59.85 on the BSE. Mahesh Kumar Jain is the MD and CEO of IDBI Bank.

Former Football star elected President of Liberia

Former football star George Weah has been elected as Liberia's president. The closest rival of Mr Weah was his opponent Joseph Boakai. Mr Weah won the elections with more than 60% of the vote. He succeeded Ellen Johnson Sirleaf, Africa's first elected female president, in Liberia's first democratic handover in decades.
The Liberian Capital is Monrovia and its Currency is the Liberian dollar.

KKR gets RBI permission to start India’s first foreign-owned Asset Reconstruction Company

US buyout giant KKR & Co has become the first foreign investor to fully own an asset reconstruction company (ARC) in India as it received approval from the Reserve Bank of India. KKR, one of the most aggressive investors in financial services, plans to deploy a major chunk from its record Asia fund for buying troubled assets in the country, multiple sources with direct knowledge of the matter.

World’s largest Human Genome Project launched in China

The world's largest human genome research project of 100,000 people was launched by China to document their genetic makeup for a study that aims to help generate the precision medicines of the future. It is the country's first large project detecting the genetic links between health and sickness and will involve 100,000 people from different ethnic backgrounds and regions. The project includes four stages - collecting, sequencing gene samples, gathering the data and sharing the findings.

78th session of Indian History Congress underway in Kolkata

The three day long 78th session of the Indian History Congress begun in Kolkata. The Indian History Congress had six sections this time - Ancient India, Medieval India, Modern India, Countries Other than India, Archaeology and Contemporary India. The aim of conducting Indian History Congress is for promotion and encouragement of the scientific study of Indian History.

Jitu Rai wins 50m pistol gold in National Shooting Championship

In Shooting, ace Indian marksman Jitu Rai won the Men's 50-metre pistol national title, setting a new record score of 233 at the 61st National Shooting Championships in Thiruvananthapuram. Rai got the better of Navy man Omkar Singh who shot 222.4 in the finals. Jitu's army teammate Jai Singh secured bronze with an effort of 198.4. Rai's score of 233 was a new record in the finals of the event. Rai also won the team gold in the event combining with Jai and Omprakash Mitherwal for a total of 1658, beating Team Air Force, who managed a total of 1626. Punjab with 1624 points won the bronze.

Vinay Sahasrabddhe appointed President of ICCR

BJP leader and Rajya Sabha MP Vinay Sahasrabuddhe has been appointed as the President of the Indian Council for Cultural Relations (ICCR). He will succeed scholar Lokesh Chandra, who has completed his three-year term. Sahasrabuddhe is currently the vice president of the Rambhau Mhalagi Prabodhini which is South Asia’s only training and research academy for elected representatives and voluntary social workers.  The ICCR is an autonomous organization under the Ministry of External Affairs. It was founded in 1950.

Amardeep Singh appointed Director of SFIO

Veteran IAS Officer Amardeep Singh has been appointed as Director of the Serious Fraud Investigating Office (SFIO). He is a 1993 batch IAS Officer of the Nagaland cadre. Currently, he is a Secretary in the Ministry of Corporate Affairs. The SFIO is a fraud-investigating agency under the Ministry of Corporate Affairs. The SFIO is involved in major fraud investigations and is the coordinating agency with the IT Dept and the CBI.

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Saturday, 30 December 2017

Current Affairs - December 30, 2017

Here's your daily summary of Current Affairs.

Viswanathan Anand wins World Rapid Chess Tournament

India’s ace chess player Viswanathan Anand won the World Rapid Chess tournament title in Saudi Arabia by beating Russia’s Vladimir Fedoseev 2-0 in a two-game tie-break. Saudi Arabia hosted the world chess tournament for the first time. The women’s title was won by China’s Ju Wenjun. Dronavalli Harika was the best-placed Indian, finishing 19th.

Pluto Exchange launches India’s first mobile app for transacting in Bitcoins

Cryptocurrency dealer 'Pluto Exchange' announced the launch of India’s first mobile application for transacting in virtual currencies. The Pluto Exchange mobile app offers a solution to the coordination problem between payment processors, financial gateways and banks. The app would permit a range of transactions, including payments, remittances, business-to-business commerce, supply chain finance, asset management and trading.          
The founder and Chief Executive of Pluto Exchange is Bharat Verma.

SEBI caps cross-shareholding in Rating Agencies at 10 %     
Markets regulator SEBI stated that cross-holding in credit rating agencies (CRAs) will be capped at 10 percent and also decided to raise the minimum net worth requirement to Rs 25 crore from the current Rs 5 crore. Also, the board of SEBI has approved a slew of measures for tightening the financial and operational eligibility of the promoters of CRAs, besides greater disclosure requirements for them.

India Ranks 5th in countries with Highest NPA levels    
India has the highest level of non-performing assets (NPA) among BRICS countries and is ranked fifth on a list of countries with the highest levels of NPAs, as per the report by CARE Ratings. The only countries ranked higher than India on the list are Greece, Italy, Portugal, and Ireland. All these countries, along with Spain, are commonly referred to as PIIGS, and have been victims of sovereign debt crises in recent years. At 9.85 percent, India’s NPA ratio is over 400 basis points higher. Spain is the only PIIGS country ranked lower than India on the list, with an NPA ratio of 5.28 percent. PIIGS includes Portugal, Italy, Ireland, Greece, and Spain.

Small Savings Interest Rate cut by 20 bps     

The government slashed interest rates on small savings schemes, including National Savings Certificate (NSC) and Public Provident Fund (PPF), by 0.2 percentage point for the January-March period from the rates applicable in the previous quarter. This will prompt banks to lower deposit rates. As per the finance ministry notification, rates have been reduced across the board for schemes such as National Savings Certificate (NSC), Sukanya Samriddhi Account, Kisan Vikas Patra (KVP) and Public Provident Fund (PPF). However, interest on savings deposits has been retained at 4 percent annually.

Bank of Baroda enters into MOU with POORTI Agri Services (P) Ltd     

Bank of Baroda has entered into MOU with POORTI Agri Services Pvt. Ltd to enable the farmers to purchase agricultural inputs such as fertilizers, pesticides, seeds etc. provided by POORTI. This is a Platform for Online Ordering & Rural Transformation of India known as “POORTI”. POORTI is a well-established company providing multi-party mobile commerce platform for easy ordering of fertilizers, pesticides, seeds by farmers with loans given by banks.   
The Chairman of Bank of Baroda is Ravi Venkatesan and its Managing Director & CEO is P.S.Jayakumar.

India signs agreement with World Bank for UP Tourism Project

An agreement for IBRD Credit of USD 40 Million from World Bank for “U.P. Pro-Poor Tourism Development Project” was signed between India and the World Bank. The programme size is approximately USD 57.14 million, of which USD 40 million will be financed by the Bank, and the remaining amount will be funded out of State Budget. The programme duration is 5 years. The Project Objective is to increase tourism-related benefits for local communities in targeted destinations. The major districts under attractions in Uttar Pradesh are Agra, Mathura, Vrindavan, Barsana and Govardhan in the Braj region.

Fiscal Deficit crosses FY 17-18 target in Nov 17 itself  
India's fiscal deficit at the end of November breached the target and touched 112 percent of the budget estimate for 2017-18. This was mainly due to lower GST collections, and higher expenditure. In absolute terms, the fiscal deficit the difference between expenditure and revenue stood at 6.1 lakh cr rupees during the April to November 2017 period, according to Controller General of Accounts data. During the same period of the last fiscal, the deficit had stood at 85.8 percent of that year's target. Data showed that the government's revenue receipts were 53.1 percent of the budget estimate during the April to November 2017 period.

Indian Science Congress 2018 to be held in Manipur        
The 105th edition of the Indian Science Congress will be held in Manipur in March 2018. It was originally scheduled to be held in Hyderabad’s Osmania University in Jan 2018 but the University opted out of the same citing security reasons and hence it had to be shifted to Manipur. Traditionally, the Indian Science Congress is the first public event which the Prime Minister of India will attend every New Year, but this time it will not be so due to the postponement. The first edition of the ISC was held in Kolkata in 1914 and the last and the 104th one was held in Tirupathi.

Prince Harry named President of African Parks     

Britain’s Prince Harry has been named the President of the African Parks, a conservation group which manages wildlife in Africa. Harry’s role will be to preserve Africa’s natural heritage and support wildlife and communities that live around the conservation areas. The African Parks were founded in 2000 and manage 10 parks in 7 African nations currently.

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Friday, 29 December 2017

IBPS PO Main Exam Result 2017 Declared

IBPS PO Main 2017 results have been declared. Candidates can check their results on the official website -

The Institute of Banking Personnel has declared IBPS PO Main 2017 exam result. The IBPS PO Main examination was held on 26th November 2017 to fill 3562 vacancies.

Step-by-Step Guide To Check IBPS PO Main Exam Result 2017

Here is step-by-step guide to check your IBPS PO Main Exam Result 2017

Step 1: Visit the official website -
Step 2: Click on the notification that states,
“Click here to check Results Status of Common Recruitment Process for Probationary Officers / Management Trainees Phase VII (CWE PO/MT - VII)
Step 3: Enter your Registration Number or Roll Number and Password or Date of Birth, security code and Login to your profile
Step 4: Download your result and take a print for further reference.

Congratulations to all the candidates who made it so far. Candidates who are short-listed for the final round i.e. the interview process should start their preparation. It is important for a candidate to crack the interview round to become a Bank PO.

Final Results of the IBPS PO 2017

The final result of IBPS PO 2017 will be tabulated by considering the cumulative score of Mains and the Interview round. At last a merit list is prepared and the candidates whose names are mentioned in the list are offered the appointment letter by the allotted Bank.

Call Letters for IBPS PO 2017 Interview Process

The Call Letters for the final Interview round is expected to be released at the beginning of January 2018. The interviews are expected to be conducted in the month of January and February 2018 and the provisional allotment results are expected to be declared in the month of April 2018.

5 Interview Tips for IBPS PO 2017

Here are 5 simple tips that will help you crack the interview for IBPS PO 2017

-> Update yourself with current affairs for past 6 months
-> Dress appropriately.
-> Focus on your strengths that are related to the job responsibility of a Bank PO.
-> Stay calm and confident.
-> Have a minimum sleep of 6 hours on the night before the interview.

Watch the video to learn simple 3 steps in which you can introduce yourself in an interview.

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Current Affairs - December 29, 2017

Here's your daily summary of Current Affairs.

SBI gets Board approval to raise Rs 8000 cr to comply with Basel III norms

According to the country's largest lender, SBI, its board has approved raising Rs 8,000 crore through various sources, including masala bonds, to meet Basel III capital norms. Masala bonds are rupee denominated specialised debt instruments that can be floated in overseas markets only to raise capital. Banks in India have to comply with the global capital norms under Basel III by March 2019, three months later than the internationally agreed time frame by January 2019.

India successfully test fires AAD interceptor missile        
India successfully test-fired its indigenously developed Advanced Air Defence (AAD) supersonic interceptor missile, capable of destroying any incoming ballistic missile at low altitude, from a test range in Odisha. This was the third supersonic interceptor test carried out this year in which an incoming ballistic missile target was successfully intercepted, within a 30km altitude of the earth’s atmosphere by an interceptor. The interceptor is a 7.5-meter long single stage solid rocket propelled guided missile equipped with a navigation system.

Bugs Bunny creator Bob Givens dies aged 99       
American Bob Givens, one of the animators behind designing the iconic characters Bugs Bunny and Elmer Fudd, died at the age of 99. He was an animator for more than 60 years. He also brought his skills to TV advertising, animating cartoon insects for Raid bug-killer commercials. Givens served in the US army during the Second World War, before returning to the animation industry.

IPS Officer Abhay appointed Director General of Narcotics Bureau       

Senior IPS officer Abhay was appointed Director General of Narcotics Control Bureau (NCB). He is at present working in Central Reserve Police Force (CRPF). The Appointments Committee of the Cabinet has approved his appointment to the post till November 18, 2019. The post was lying vacant after R R Bhatnagar took over as DG of CRPF in April 2017.

Singer Chitra wins prestigious Harivarasanam Award from Kerala Government    
Veteran singer K S Chitra has been selected for prestigious 'Harivarasanam' award 2017, instituted by the Kerala government. The award carrying a cash prize of Rs 1 lakh, citation and plaque would be presented to the veteran playback singer at a function on January 14, 2018.    

  • The 'Harivarasanam' awards were instituted in 2012.       
  • Singers K J Yesudas, M Jayachandran, S P Balasubramanyam, Gangai Amaran and M G Sreekumar are among the earlier winners.
Anisa Sayyed wins 25m pistol gold in National Shooting Championships      

Haryana shooter Anisa Sayyed won the women’s 25m pistol gold with a new record at the ongoing 61st National Shooting Championship Competitions (61st NSCC), in Thiruvananthapuram. Anisa shot a new finals national record score of 33 to prevail over the Maharashtra duo of Shital Shivaji Thorat and Rahi Sarnobat, who won the silver and bronze medals respectively at the National Games Shooting Range.

100th Indian Economic Association Conference Inaugurated in Guntur          

President Ramnath Kovind inaugurated the 100th Annual Conference of the Indian Economic Association at Acharya Nagarjuna University in Guntur of Andhra Pradesh. The event will be held for four days. Indian Economic Association is a registered body of Indian economic professionals with an objective of providing a forum for debate and discussion of policy-oriented issues. The Association currently has 5000 plus members, both individual and institutional.    

  • The Indian Economic Association (IEA) was established in 1917. 
  • The President of IEA (Conference) is Prof. C. Rangarajan.            
  • The President of IEA (Association) is Prof. Sukhadeo Thorat.

Orissa Government to set up Heritage Cabinet        

The Orissa Government has decided to set up a Heritage Cabinet under the chairmanship of the Chief Minister Navin Patnaik. The objective is to preserve the relics and monuments across the state. This has been done by bifurcating the tourism and culture ministry through a Cabinet decision taken on the 26th December 2017. The Cabinet also took a decision to set up an Odiya Language Commission.

Paul Antony has been appointed as Chief Secretary of Kerala   

Paul Antony, an IAS Officer of the 1983 batch, has been appointed as the Chief Secretary of the Kerala Government. He will take charge on 1st Jan 2018. He will replace K.M.Abraham who will retire on 31st December 2017. Paul Antony is currently the Additional Chief Secretary.

Rajasthan Government sets up E Mitra ATMs at 9900 locations in the State   

The Rajasthan Government is setting up Automated Service Machines E Mitra Plus at Atal Seva Kendra in 9900 locations across the State. It will also be available in 2500 urban locations in the state. Through these E Mitra Plus ATMs, the public can avail of 380 services of various Government departments. They have human less interface and are linked to Aadhar cards. Through these, the public can make payment through cards as well as cash. Currently, over 60 lakh transactions with a turnover of over Rs 700 cr take place through the E Mitra machines.

New norms on shareholding pattern in Mutual Funds announced by SEBI   
The board of Securities and Exchange Board of India (SEBI) has decided that any shareholder owning at least 10 % stake in an AMC will not be allowed to have 10 % or more stake in another mutual fund house operating in the country. Further, a sponsor of a mutual fund, its associates, group company and its asset management company will be restricted from holding 10 % or more stake in a rival AMC. In addition, such entities will be barred from having a representation on the board of another mutual fund house.        
In addition, SEBI has decided to come out with a fresh consultation paper on Investment Advisor in order to segregate advisory and the role of a distributor. To prevent the conflict of interest that exists between ’advising’ of investment products and ‘selling’ of investment products by the same entity/person, there should be clear segregation between these two activities, the regulator has said.

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Thursday, 28 December 2017

Current Affairs - December 28, 2017

Here's your daily summary of Current Affairs.

Forbes names Vin Diesel as top-earning actor of 2017    
Vin Diesel has been named the top-grossing actor of 2017 by Forbes, with 1.6 billion in global ticketing receipts from his film 'The Fate of the Furious'. The second spot was occupied by Dwayne Johnson 'The Rock', with 1.5 billion receipts. 'Wonder Woman' actress Gal Gadot, whose films earned $1.4 billion worldwide, featured in the third spot on the list.

Anuksha Sharma named “PETA”’s Person of the year     

Actress Anushka Sharma has been named PETA's Person of the Year by animal rights organisation People for Ethical Treatment of Animals (PETA). Anushka, a vegetarian, has nabbed the title for helping to protect dogs from fireworks to advocating for horses who are forced to pull carriages in Mumbai. She was named PETA's Hottest Vegetarian Celebrity in 2015. PETA is the largest animal rights organization in the world. The President of PETA is Ingrid Newkirk. PETA India, based in Mumbai, was launched in January 2000.
IRDAI allows Insurance Companies to do offshore business from GIFT IFSC

Insurance regulator IRDAI has issued regulations for insurance firms to carry out offshore business from Gujarat-based GIFT International Financial Services Centre (IFSC). With this, Insurance operations will get a major boost. Under the regulations, for the first time in the country, foreign insurers are permitted to open IFSC Insurance Office (IIO) at GIFT IFSC. GIFT IFSC already hosts three major insurance players, GIC Re, New India and ECGC. IRDAI- Insurance Regulatory and Development Authority of India. T.S.Vijayan is the Chairman of IRDAI.

DGCA permits Dornier 228 aircraft for commercial use     

The Directorate General of Civil Aviation (DGCA) has allowed Hindustan Aeronautics Ltd (HAL) - manufactured Dornier 228 to be used for civilian flights. The 19-seater aircraft has, till now, been used by defence forces and is the first plane to be made in the country for commercial flights. HAL can sell this plane to airlines in India and it can be used by them for regional flights under the Indian government's ambitious UDAN (Ude Desh Ka Aam Naagrik) scheme.
Saudi Arabia hosts World Chess Tournament for the first time   

Saudi Arabia is hosting a world chess tournament for the first time, nearly two years after the country’s top cleric issued a religious edict against playing the board game. The tournament has been named as the King Salman World Rapid and Blitz Chess Championships. The world’s top three chess players from Norway, Armenia and Azerbaijan are participating in the tournament.

World Bank agrees for a $118 million loan for Tamil Nadu farmers     
The Government of India, the Government of Tamil Nadu and the World Bank signed a 318 million loan agreement for the Tamil Nadu Irrigated Agriculture Modernization Project to promote climate resilient agriculture technologies, improve water management practices, and increase market opportunities for small and marginal farmers. About 500,000 farmers, of which a majority are small and marginal, are expected to benefit from improved and modernized tank irrigation systems. The 318 million loan from the IBRD has a 5-year grace period and a maturity of 19 years.
India set to become the world’s fifth largest economy by 2018   

India is set to leapfrog Britain and France next year to become the world's fifth-largest economy in dollar terms. The Centre for Economics and Business Research (Cebr) consultancy’s 2018 World Economic League Table painted an upbeat view of the global economy, boosted by cheap energy and technology prices. Deputy Chairman of Cebr, Douglas McWilliams said, despite temporary setbacks, India's economy has still caught up with that of France and the UK and next year, will overtake both of them. He said, India’s ascent is part of a trend that will see Asian economies increasingly dominate the top 10 largest economies over the next 15 years.
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