DAILY CURRENT AFFAIRS: NOVEMBER 1&2, 2018

Daily Current Affairs ( November 1&2, 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

Union Cabinet approves India-Morocco agreement on legal assistance in criminal matters

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the Agreement between India and Morocco on Mutual Legal Assistance in Criminal Matters.

The Agreement will provide a broad legal framework for bilateral cooperation between India and Morocco in investigation and prosecution of crime, tracing, restraint, forfeiture or confiscation or proceeds and instruments of crime.

It aims to increase effectiveness in investigation and prosecution of crime, and in providing the necessary peaceful ambience which is a pre-requisite for the development of society as a whole.

Morocco

Capital: Rabat

Currency: Moroccan dirham

Cabinet Approves Renaming Of Jharsuguda Airport, Odisha As “Veer Surendra Sai Airport, Jharsuguda”

The Union Cabinet chaired by Prime Minister Narendra Modi has approved the renaming of Jharsuguda Airport, Odisha as “Veer Surendra Sai Airport, Jharsuguda”.

CM Naveen Patnaik had also requested restoration of UDAN services at the airport and exploring opportunities for flight operations from Jharsuguda to other states.

Veer Surendra Sai is a well-known freedom fighter of Odisha. It will be a befitting tribute to the contribution of the revered personality associated with the State.

‘Soura Jalanidhi’ Scheme Launched In Odisha

Chief Minister of Odisha Naveen Patnaik has launched ‘Soura Jalanidhi’ scheme which aims at increasing use of solar energy for helping farmers in irrigation.

‘Soura Jalanidhi’ is a dug well based solar pump irrigation system in convergence mode.

Under the scheme, 5,000 solar pumps will be provided to farmers at a subsidy of 90 percent to irrigate 2,500 acres of land. The Chief Minister also launched the web portal of this scheme on the occasion.

The State Government has allocated 27.18 crore for implementation of the scheme.

INTERNATIONAL

Qatar To Host World Corporate Games in 2019

Sports for Life, organisers of the World Corporate Games, announced that the 2019 edition will be held in Qatar under the slogan ‘Qatar, where the World comes to compete’. The 23rd edition is set to be held in November and will be the first ever to take place in the Middle East.

The announcement was made on the sidelines of the Qatar-Germany Investment and Business Forum held in Berlin.

The World Corporate Games take place every 1-2 years and the last edition was held in Houston, Texas in 2017. The Qatar edition of the World Corporate Games is expected to attract 5,000 participants.

Qatar

Capital: Doha

Currency: Qatari riyal

China launches new high-orbit satellite to boost its global navigation system

China has successfully launched a high orbit satellite to boost its home-grown BeiDou global satellite navigation system being built to rival United States Global Position System (GPS).

The satellite was launched from the Xichang Satellite Launch Centre in the southwestern Sichuan Province.

Launched on a Long March-3B carrier rocket, it is the 41st of the BeiDou navigation system, and will work with 16 other Beidou-3 satellites already in orbit. It is also the first BeiDou-3 satellite in high orbit, about 36,000 km above the Earth.

It will be the fourth global satellite navigation system after the US GPS system, Russia’s GLONASS and the European Union’s Galileo.

China

Capital: Beijing

Currency: Renminbi

BANKING AND ECONOMY

NIIF Acquired IDFC Infrastructure Finance

The National Investment and Infrastructure Fund (NIIF) has acquired IDFC Infrastructure Finance (IDFC-IFL), an infrastructure debt fund.

This acquisition is the first investment from NIIF’s strategic fund. IDFs are investment vehicles for channeling investment into India’s infrastructure sector.

IDFC-IFL, with a loan book of Rs 4500 crore, lends to operating infrastructure projects, helping original project financiers to recycle their capital following the commencement of operations.

TCS buys London-based W12 Studios

Tata Consultancy Services (TCS) has acquired design company W12 Studios for an undisclosed sum.

W12 was started in 2012 and is one of the world’s iconic design companies. It has multi-disciplinary capabilities and has won a number of awards.

TCS has planned to expand its interactive business into a significant revenue stream in the next few years.

India Signs $950 Million with Russia for Two Stealth Frigates

India has signed a $950 million contract with Russia for two upgraded Krivak III-class stealth frigates. A government-to-government contract was signed between India and United Shipbuilding Corporation of Russia.

The frigates are built by Yantar Shipyard of Russia and will be powered by Ukrainian gas turbine engines. They will be equipped with Indian-built radar, sonar, communication suites and anti-ship BrahMos missile systems.

The 4,000-ton Krivak III vessels will also accommodate two multirole helicopters and will be used for anti-submarine and airborne early warning missions.

India has already built seven basic versions of Krivak-class stealth frigates under the Navy’s Project 17A scheme at state-owned shipyards Mazagon Dock Limited, and Garden Reach Shipbuilders and Engineers.

RANKING

India ranks 77 in World Bank’s Ease of Doing Business 2019

India leapfrogged to the 77th rank in the World Bank’s latest Ease of Doing Business rankings, jumping 23 notches from last year.

The report also recognises India as one of the top 10 improvers in this year’s assessment, for the second successive time. India is the only large country this year to have achieved such a significant shift.

In the ‘Trading Among Borders’ indicator, India’s rank improved by 66 positions, moving from 146 in 2017 to 80 in 2018.

In the World Bank Group’s annual ease of doing business rankings, the top 10 economies are New Zealand, Singapore and Denmark, which retain their first, second and third spots, respectively, for a second consecutive year.

India ranks 66 in Global Passport Index, Singapore tops the chart

The Indian passport was ranked 66th in the world in the latest ranking of the Global Passport Index. The ranking was based on the passports’ visa-free score.

The ranking of Indian passport, granting its holders visa-free access to 66 countries, improved nine notches since the previous year.

As per the annual passport index, Singapore and Germany have the world’s “most powerful” passport with access to 165 countries.

Falling in the last place of the list is Afghanistan, ranked 91 with a score of 22, followed by Pakistan and Iraq at 90 with a score of 26, Syria at 88.

APPOINTMENTS AND RESIGNATIONS

4 new members sworn-in as Supreme Court Judges
Justices Hemant Gupta, R Subhash Reddy, M R Shah and Ajay Rastogi were sworn in as judges of the Supreme Court.

Chief Justice Ranjan Gogoi administered oath of office to the four judges. The apex court has a sanctioned strength of 31. With the elevation of these four new judges, the strength has risen from 24 to 28.

Atul Goel takes over as MD, CEO of UCO Bank

Atul Kumar Goel has assumed charge as Managing Director and CEO of UCO Bank. Prior to this assignment, he was executive director of Union Bank of India.

Goel takes over from R K Takkar who completed his three-year tenure on November 1, 2018.

He started his career as Chartered Accountant in Allahabad Bank in 1992 and worked various segments including corporate credit, foreign exchange and treasury.

Atul Goel

Headquarters: Kolkata

RBI Clears Re-Appointment of Aditya Puri as HDFC Bank CEO

RBI has approved re-appointment of Aditya Puri as managing director of Private sector HDFC Bank for another two years.

Puri has been with the bank since 1994, making him the longest-serving head of any private bank in the country. During his tenure, Puri has led the bank through two major mergers in the Indian banking industry — merger of Times Bank Limited and Centurion Bank of Punjab Limited with HDFC Bank.

HDFC Bank

Headquarters: Mumbai

Bajpai quits IL&FS board

Former Securities and Exchange Board of India (Sebi) chairman GN Bajpai resigned as director of debt-laden IL&FS Group.

Kotak Mahindra Bank managing director Uday Kotak is the chairman of the government-appointed board seeking to find a solution to the cash-strapped company.

Infrastructure Leasing & Financial Services Limited is an Indian infrastructure development and finance company.

SPORTS

Pankaj Advani Wins Asian Snooker Tour Title

Pankaj Advani has become the first Indian to win the Asian Snooker Tour title. Pankaj Advani achieved this feat by defeating Chinese player Joe Seati by 6-1 in the second leg of the Asian Snooker Tour held in China.

Pankaj Advani is a Padma Bhushan awardee and he has won the Asian Billiards Championship title in March 2018.

IMPORTANT DAYS

World Vegan Day – November 1

World Vegan Day is an annual event celebrated by vegans around the world every 1 November.

The commemoration of this event began in 1994 by a UK celebrity, Louise Wallis, who was at the time the chair of The Vegan Society.

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