Daily Current Affairs (August 31, 2018) like many other sections is inevitable and this also helps to score in the Banking awareness , Static GK and Financial Awareness sections. Remember, Banking Awareness and Static Awareness Questions are asked from the General Awareness section. This will also help you to ride your preparations for the forthcoming exams.


Indian Naval ship Sahyadri to participate in 14th exercise KAKADU 2018

The Indian naval stealth warship Sahyadri entered the Port of Darwin in Australia to take part in the maritime exercise KAKADU.

The exercise KAKADU was started in 1993, is a premier multilateral regional maritime engagement hosted by the Royal Australian Navy (RAN) and supported by the Royal Australian Air Force (RAAF).

It is held biennially in Darwin and the Northern Australian Exercise Areas (NAXA).It derives its name from the Kakadu National Park, which is a protected area in the northern territory of Australia, 171 km south-east of Darwin.

Government to launch National Mission on GeM

The National Mission on Government e Marketplace (GeM) will be launched on 5th September 2018 to accelerate the adoption and use of GeM by major central Ministries, State Governments and their agencies.

The aim of the National Mission is to promote inclusiveness, transparency and efficiency in public procurement and achieve cashless, contactless and paperless transaction.

The GeM platform provides online, end to end solution for procurement of commonly used goods and services for all Central Government Departments and State Governments.

e Marketplace is an online marketplace to facilitate procurement of goods and services by various Ministries and agencies of the Government.

Assam Government extends AFSPA in the state for 6 more months

The Assam state government has extended Armed Forces (Special Powers) Act, 1958 (AFSPA) for another six months.

The Act gives special rights and immunity to security forces in carrying out various operations in “disturbed” areas.

The withdrawal of Armed Forces (Special Powers) Act is widely favoured in Assam following lifting of AFSPA from Meghalaya while its coverage area has been reduced in Arunachal Pradesh. AFSPA was clamped in Assam in 1990.


Capital: Dispur

Chief minister: Sarbananda Sonowal

MoU Signed Between Department of Biotechnology and International Energy Agency

The Department of Biotechnology (DBT), Ministry of Science and Technology, and the International Energy Agency (IEA) signed a Memorandum of Understanding (MoU) on Enhancing Innovation for Clean Energy Transition.

The MoU was signed in the presence of Dr. Harsh Vardhan Minister for Science & Technology and Earth Sciences, Environment, Forest and Climate Change, by Secretary DBT, Dr. Renu Swarup and Executive Director of IEA, Dr. Fatih Birol.

Central Government sanctions Rs 730 cr for Narmada project

The Centre has sanctioned Rs 730 crore for the Gujarat’s Sardar Sarovar Dam project on the Narmada river for the current year and also committed soft loan of Rs 1,500 crore for the state’s other irrigation projects.

It was announced by Deputy Chief Minister Nitin Patel. He also announced that the money was sanctioned since the Narmada project is considered one of India’s 99 major irrigational projects.

The target of completing the Narmada project is by December 2019.

ADB to $245 million provide loan for safe, sustainable drinking water service in West Bengal

The Board of Directors of the Asian Development Bank (ADB) has approved a financing package totaling $245 million to provide safe, sustainable, and inclusive drinking water service.

It would benefit to about 1.65 million people in three districts of West Bengal,affected by arsenic, fluoride, and salinity.

The project will provide continuous potable water through metered connections to about 390,000 individual households in three districts—Bankura, North 24 Parganas, and Purba Medinipur.

West Bengal

Capital: Kolkata

Chief minister: Mamata Banerjee

India, ADB sign USD 346 million loan to improve state highways in Karnataka

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India and Asian Development Bank have signed 346 Million dollar loan agreement to improve over 400 kilometers of State highways in Karnataka.

It will enhance connectivity and access to economic centers across 12 districts in Karnataka.

The loan agreement for the Karnataka State Highways Improvement Project was inked between Joint Secretary in the Finance Ministry Sameer Kumar Khare and Country Director of ADB’s India Resident Mission Kenichi Yokoyama.


Capital: Bengaluru

Chief minister: H. D. Kumaraswamy


Vostok-2018: Russia to conduct largest military exercise 

Russia will next month hold its biggest war games since at least the 1980s, with around 300,000 troops and 1,000 aircraft. The exercise will involve units from the Army, Air Force and Navy.

The Vostok-2018 exercises will be carried out from September 11 to 15 in the country’s east with the participation of China and Mongolia.

About 3,200 People’s Liberation Army (PLA) troops and 30 aircraft will take part in the joint exercises in the Tsugol training range in Russia’s far east Trans-Baikal region.

1st SAARC Agri Cooperative Business Forum Begins In Kathmandu

The First South Asian Association for Regional Cooperation (SAARC) Agri Cooperative Business Forum began in Kathmandu.

The theme of three-day Forum is the ‘Organizing and Strengthening Family Farmers’ Cooperatives to attain the Sustainable-Development-Goals-1 and 2 in South Asia’.

It is being co-organized by the Food and Agriculture Organization of the United Nations and Asian Farmers’ Association with the support from the International Fund for Agricultural Development.


The South Asian Association for Regional Cooperation is the regional intergovernmental organization and geopolitical union of nations in South Asia(total 8 countries).

Headquarters: Kathmandu, Nepal

6th RCEP Ministerial Meeting Begins In Singapore

The Union Minister of Commerce & Industry and Civil Aviation Suresh Prabhu is leading the Indian delegation for the 6th RCEP Trade Ministers’ Meeting which begins in Singapore.

The Minister will participate in the RCEP (Regional Comprehensive Economic Partnership) meeting consisting of 10 ASEAN countries and six ASEAN FTA partners namely, India, China, Japan, Korea, Australia and New Zealand.

This will be followed by the 15th India-ASEAN Economic Ministers’ Meeting (AEM) which will take stock of the current level of trade and economic engagement between India and ASEAN.

Regional Comprehensive Economic Partnership is a proposed free trade agreement between the ten member states of the Association of Southeast Asian Nations and the six Asia-Pacific states with which ASEAN has existing free trade agreements.


Kochhar reappointed to ICICI Sec board

Chanda Kochhar has been re-appointed as a director on the board of ICICI Securities with ICICI Bank.

ICICI Bank has a 79.22% stake in the broking and investment banking entity.

Ms. Kochhar, who is in the midst of a probe by ICICI Bank and other regulatory agencies, was seeking reappointment as a director on the board of which she has been a part since October 2008.


Headquarters: Mumbai

YES Bank gets RBI nod for re-appointment of Rana Kapoor

The Reserve Bank of India has approved the appointment of Rana Kapoor as the Managing Director and CEO of YES Bank until further notice.

In June this year, Yes Bank’s shareholders had approved the re-appointment of Rana Kapoor as the chief executive and managing director for three years, subject to final approval from the Reserve Bank of India.

Kapoor is the Founder, Managing Director and CEO of Yes Bank. Prior to establishing Yes Bank, Kapoor was CEO and Managing Director, and main Managing Partner of Rabo India Finance (RIF) (a corporate finance and investment banking organisation).

YES Bank

Headquarters: Mumbai


Asian Games:

Silver Medal Winners:

Sailing: Harsha Gautham and Sweta Shervegar claims silver

India clinched three medals in sailing with Varsha Gautham and Sweta Shervegar clinching silver in the 49er FX Women’s event at the 18th Asian Games.

The 20-year-old Varsha and 27-year-old Sweta combined to produce a total score of 40 after 15 races to finish second at the Indonesia National Sailing Centre.

Bronze Medal Winners:

  • In sailing, Varun Thakkar Ashok and Chengappa Ganapathy Kelapanda win a bronze each in the 49er men’s event.
  • In sailing, Harshita Tomar wins bronze in sailing in the Mixed Open Laser 4.7 event.
  • P.U. Chitra wins a bronze in women’s 1500m.
  • Seema Punia wins a bronze in women’s discus throw.

Luca Modric beats Cristiano Ronaldo to European Player of the Year

Croatian international and Real Madrid midfielder, Luka Modric, has been named the best European player by the continent’s football governing body, UEFA.   

Modric, was an integral part of Madrid’s Champions League winning team, before leading his national side to runners-up position at the 2018 World Cup. He has adjudged the best player at the tournament in Russia.

Wolfsburg’s Pernille Harder won the women’s player of the year award.San Jose Earthquakes defender Guram Kashia won the inaugural #EqualGame award for his work promoting equality.The event was held at Grimaldi Forum, Monaco.