DAILY CURRENT AFFAIRS: DECEMBER 7, 2018

Dear Bankersdaily Aspirants,

Daily Current Affairs ( December 7, 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.

NATIONAL

Cabinet approves implementation of Shahpurkandi Dam on river Ravi in Punjab:

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved implementation of Shahpurkandi Dam Project, Punjab on river Ravi. For this, Central Assistance of Rs. 485.38 cr (for irrigation component) would be provided over five years from 2018-19 to 2022-23.
Implementation of this project would help minimising some of the water of the River Ravi which at present is going waste through the Madhopur Headworks downstream to Pakistan.

PUNJAB

Capital: Chandigarh
Chief Minister: Amarinder Singh
Governor: V.P. Singh Badnore

Kiren Rijiju inaugurates All India Police Shooting Competition 2018 at Manesar:

Minister of State for Home Kiren Rijiju has inaugurated the 19th All India Police (AIPDM) Shooting Competition-2018 at Manesar, Gurugram in Haryana. The competition will continue till 11th of this month.

Ravi Shankar Prasad launches National Challenge ‘Ideate for India – creative solutions using technology’ for school students:

Minister for Electronics and IT Ravi Shankar Prasad has launched National Challenge – ‘Ideate for India – creative solutions using technology’ for school students in New Delhi. The challenge will help empower the youth to become the next generation of innovators and technology creators. Over 10 lakh students will participate in the challenge.
‘Ideate For India’ national challenge is a joint collaboration between National e-governance Division and Intel India, supported by the Department of School Education and Literacy of Ministry of Human Resources Development.

Kandhamal Haldi likely to get GI tag:

Odisha’s Kandhamal Haldi (turmeric), famous for its healing properties, is a few steps away from receiving GI tag as the Geographical Indications Journal has advertised its application seeking objections.
Kandhamal Apex Spices Association for Marketing, based at the district headquarter town of Phulbani, had moved for registration ‘Kandhamal Haldi’ which was accepted under sub-section (1) of Section 13 of the Geographical Indications of Goods (Registration and Protection) Act, 1999.

Gehlot inaugurates website of media school for Dalit and tribal youth:

On the 62nd death anniversary of BR Ambedkar, Union minister Thaawarchand Gehlot launched the website of a first-of-its-kind media school to train Dalit and tribal youth in journalism.
The media school, Dr Bhim Rao Ramji Ambedkar School Of Media Empowerment (ASME), supported by the Indian Institute of Mass Communication (IIMC), will have its branches in Pune, Assam, Uttarakhand and other regions. The Pune branch will begin shortly.

Kolkata-Patna becomes India’s second inland container cargo sector:

Kolkata-Patna is India’s new Indus Water Treaty (IWT) origin-destination pair for containerised cargo movement on the National Waterway-1. Plans are at an advanced stage to operationalise Patna-Varanasi sector of NW-1 for container cargo movement.
The ministry of shipping is developing NW-1 (River Ganga) under Jal Marg Vikas Project (JMVP) from Haldia to Varanasi (1,390 Km) with the technical and financial assistance of the World Bank, at an estimated cost of Rs.5,369 crore. The project would enable commercial navigation of vessels with capacity of 1,500-2,000 DWT.

INTERNATIONAL

Cabinet approves agreement between India and Various Countries on December 7^th, 2018:

India and Algeria on cooperation in the field of space sciences, technologies and applications. The agreement was signed in September 2018.
India and Japan in the field of healthcare and wellness and to improve postal services in the Postal field.
India and Morocco for cooperation in the peaceful uses of outer space.
India and Zimbabwe for cooperation in the field of geology, mining and mineral resources.
India and Armenia on joint issue of postage stamp. The Commemorative Postage Stamps depict Manipuri Dance of India and Hov Arek Dance of Armenia.
India and Uzbekistan on cooperation in the exploration and uses of Outer Space for peaceful purposes.
India and Russia on Joint Activities under Human Space flight Programme.
India and Tajikistan on Cooperation on Peaceful uses of Space Technology for Development.
India and South Korea to strengthen and further develop the established relationship for strengthening cooperation in the field of tourism.
India and France in the field of energy efficiency / energy conservation.

Qatar to withdraw from OPEC in January 2019:

Qatar said it was quitting OPEC from January to focus on its gas ambitions, taking a swipe at the group’s de facto leader Saudi Arabia and marring efforts to show unity before this week’s meeting of exporters to tackle an oil price slide.
Doha, one of OPEC’s smallest oil producers but the world’s biggest liquefied natural gas (LNG) exporter, is embroiled in a protracted diplomatic row with Saudi Arabia and some other Arab states.

About OPEC

The Organisation of the Petroleum Exporting Countries (OPEC) is an intergovernmental organisation of 15 nations, founded in 1960 in Baghdad by the first five members (Iran, Iraq, Kuwait, Saudi Arabia, and Venezuela), and headquartered since 1965 in Vienna, Austria.
The current OPEC members are the following: Algeria, Angola, Ecuador, Equatorial Guinea, Gabon, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, the Republic of the Congo, Saudi Arabia (the de facto leader), United Arab Emirates, and Venezuela.
Secretary General of OPEC: Mohammed Sanusi Barkindo (28^th)

Luxembourg to become first country to make all public transport free:

Luxembourg is set to become the first country in the world to make all its public transport free. Fares on trains, trams and buses will be lifted next summer under the plans of the re-elected coalition government led by Xavier Bettel, who was sworn in for a second term as prime minister.
This summer, the government brought in free transport for every child and young person under the age of 20. Commuters need only pay €2 (£1.78) for up to two hours of travel, which in a country of just 999 sq miles (2,590 sq km) covers almost all journeys.

Luxembourg

Capital: Luxembourg City
Currency: Euro

BANKING & BUSINESS

Exim Bank extends USD 500 mn loan to Tanzania for water supply projects:

Export-Import Bank of India (Exim Bank) has extended a credit facility of USD 500 million to Tanzania for water supply projects in the country.
Exim Bank signed an agreement on May 10, 2018, with the Tanzania government for making available a Government of India-supported line of credit of USD 500 million for the purpose of financing water supply schemes.

HDFC ERGO Announces Corporate Agency Tie-up with Federal Bank:

HDFC ERGO General Insurance Company, India’s leading private sector general insurance company and Federal Bank, announced tie-up for the distribution of HDFC ERGO’s range of non-life insurance offerings to the customers of the Bank through its network branches.

HCL Tech to buy certain IBM software assets for $1.8 billion, shares slump 7%:

IBM agreed to sell $1.8 billion in software assets to India’s HCL Technologies Ltd., part of Big Blue’s effort to focus more on cloud computing. HCL, based in New Delhi, is buying seven businesses focused on markets such as e-commerce and human resources. The transaction is expected to close by mid-2019.

APPOINTMENTS

Government appoints Lalit Kumar as its nominee on ICICI Bank:

The government has appointed Lalit Kumar, a 1995-batch Indian Economic Service (IES) officer as the new government nominee on private sector ICICI Bank.
Kumar who is at present an Economic Advisor in the department of financial services of the finance ministry will replace Lok Ranjan, who has been laterally transferred to Department of Personnel and Training (DOPT).
The role of the government’s nominee director on the private sector bank had come into limelight after allegations surfaced against former ICICI Bank CEO Chanda Kochhar on conflicts of interest in sanctioning of loan to Videocon.

Wasim Khan appointed Managing Director of PCB:

Leicestershire chief executive Wasim Khan has been appointed as the Managing Director of the Pakistan Cricket Board. The 47-year-old has been in the role at Grace Road for four years, with the club saying it has made “significant progress” during his time in charge.

Dr Krishnamurthy Subramanian appointed new chief economic advisor:

The government appointed Dr Krishnamurthy Subramanian, associate professor and executive director (Centre for Analytical Finance) of Indian School of Business (ISB), Hyderabad, as the new chief economic adviser to the finance minister for a period of three years.
He replaces Arvind Subramanian, who resigned from the post on June 20 this year. His term was supposed to end in May 2019 but he wanted to return to academic research in the US.

Former Indian Diplomat Preeti Saran Elected to UN’s Socio-Economic, Cultural Panel:

Preeti Saran, a former senior Indian diplomat, has been elected to an Asia Pacific seat on the UN’s Committee on Economic, Social and Cultural Rights (CESCR). Saran was elected to the CESCR for a term beginning on January 1, 2019 and expiring on December 31, 2022.

AWARDS

Charlotte Prodger Wins the 2018 Turner Prize:

Charlotte Prodger has won the 2018 Turner Prize, one of the world’s most highly esteemed art prizes. She will receive £25,000, or about $31,800. Forensic Architecture, Naeem Mohaiemen, and Luke Willis Thompson were also shortlisted for the award, which recognizes one artist based in the United Kingdom each year.

SPORTS

Italy Wins Admiral’s Cup Sailing Regatta 2018:

Team Italy represented by Midshipman Vincenzo Rocco and Midshipman Alberto Cabras won the Admiral’s Cup Sailing Regatta 2018 at Ettikulam Beach at Indian Naval Academy (INA), Ezhimala.
Team Singapore represented by 2nd Lieutenant Koh Yi Qian and 2nd Lieutenant Dillon How was the Runners-Up and Team USA represented by Midshipman Jessica Mc Jones and Midshipman Tyler Fleig came third.

Maheshwari Chauhan retains women’s skeet title:

Rajasthan’s Maheshwari Chauhan retained her women’s skeet title at the 62nd National Shooting Championship Competitions (NSCC) for shotgun events in Jaipur.
The bronze medal was won by Punjab’s Simran Preet Kaur Johal, who later picked up three gold in other events. Simran won the women’s team, junior women’s and junior women’s team gold to add to her women’s skeet bronze.

IMPORTANT EVENTS OF THE DAY

Armed Forces Flag Day – 2018

Since 1949, 07 December is observed as Armed Forces Flag Day throughout India to honour the martyrs as well as men and women in uniform, who valiantly fight on our borders to safeguard the country’s honour. The ‘Armed forces Flag Day Fund’ (AFFDF) has been constituted by the Government of India for the welfare and rehabilitation of the Ex-Servicemen (ESM) community.

OBITUARY

Congress MP Maulana Asrar-ul-Haque Qasmi passes away at 76:

Maulana Asrar-ul-Haque Qasmi, noted Islamic scholar and Congress Lok Sabha MP from Bihar’s Kishanganj constituency, passed away following a heart attack. He was 76.

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