DAILY CURRENT AFFAIRS: SEPTEMBER 20, 2018
DAILY CURRENT AFFAIRS: SEPTEMBER 20, 2018
Daily Current Affairs (September 20, 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.
India and Morocco signed revised Air Services Agreement enabling greater connectivity
India and Morocco signed the revised Air Services Agreement between the two countries enabling greater connectivity through a modernized agreement.
The two sides cleared the legal and technical difficulties and agreed to a modern new text for the Air Services Agreement.
Shri Mohammed Sajid, Minister of Tourism, Air Transport, Handicraft and Social Economy signed for the Moroccan side and the Union Minister of Commerce and Industry and Civil Aviation, Shri Suresh Prabhu signed for the Indian side.
This milestone is enabler for greater air connectivity between India and Morocco and will enable the airlines of each side to enter into code share with airlines of other party, as well as provide greater freedom in mounting direct flights.
Currency: Moroccan dirham
India, Romania Agree To Intensify Cooperation At UN
India and Romania have agreed to intensify cooperation at the United Nations and other multilateral fora in order to address global challenges. Romania will open a consulate in Chennai.
The one to one talks was held between Vice President Venkaiah Naidu and President of Romania, Mr. Klaus Werner Lohannis in Bucharest. Romania was appreciated for its support to India’s bid for permanent membership of United Nations Security Council.
Currency: Romanian leu
President Ram Nath Kovind signs Ordinance banning Instant Triple Talaq practice
President Ram Nath Kovind has signed the ordinance banning the practice of instant triple talaq. The ordinance was cleared by the Union Cabinet.
Under the ordinance, giving instant triple talaq is illegal and void, and will attract a jail term of three years for the husband.
These amendments were cleared by the Cabinet on 29 August.
Atal Bimit Vyakti Kalyan Yojna launched for unemployed insured persons
The Employees State Insurance Corporation (ESIC) has approved a new scheme which would pay cash relief to insured persons during the period of unemployment.
The scheme, Atal Bimit Vyakti Kalyan Yojna, is a relief payable in cash directly to Bank Account of insured person in case of unemployment and while they search for new engagement.
The scheme would benefit insured persons covered under the Employees’ State Insurance Act, 1948. The proposal scheme was approved in the ESIC board meeting chaired by the labour minister Santosh Gangwar.
The ESIC has also approved the proposal for reimbursement of Rs 10 per person to the employers to encourage the seeding of Aadhaar (UID) in ESIC database of their workers and their family members.
The ESIC has approved the proposal for increasing the funeral expenses from existing Rs 10,000 to Rs 15,000 being paid on the death of Insured Person.
Afghanistan President Ashraf Ghani Visits India
The Afghanistan President Ashraf Ghani is due in India for a day-long visit that comes ahead of next month’s parliamentary polls in Afghanistan.
Ghani met Prime Minister Narendra Modi and discussed bilateral ties as well as regional security, including the possibility of peace talks with Taliban.
He also addressed a “civic reception” organised by the India Foundation.
Indian Foreign secretary: Vijay Gokhal
PM Shinzo Abe re-elected as leader of Liberal Democratic Party
In Japan, Prime Minister Shinzo Abe has been re-elected as the leader of the Liberal Democratic Party. The members’ vote gives him another 3 years as the head of the party and keeps Abe in his current role as the Prime Minister.
Abe defeated his only challenger, former defence minister Shigeru Ishiba. It made him to become Japan’s longest- serving Prime Minister.
Currency: Japanese yen
Exercise Avia Indra-18 Commences in Lipetsk, Russia
The exercise Aviaindra is an Air Force level exercise between India and the Russian Federation.
First Aviaindra was conducted in 2014 and has been planned as a bi-annual exercise. The aim of the exercise is focused towards anti-terrorist operations in a bi-lateral scenario.
Exercise Aviaindra 18 is being conducted at Lipetsk, Russia from 17 Sep to 28 Sep 18 and will be conducted in Jodhpur, India from 10 Dec to 22 Dec 18.
BANKING AND ECONOMY
Interest Rates On PPF, NSC, Other Small Savings Schemes Raised
The Small saving schemes such as Public Provident Fund (PPF), National Savings Certificates and Post Office Deposit Scheme will fetch more in the three months period starting October 1. The Government has raised interest rate on these schemes between 30 and 40 basis points (100 bps is 1 percent).
PPF and NSC will earn interest at 8 percent while Senior Citizens Savings Scheme, which has a tenure of five years, will fetch 8.7 per cent.
The country’s largest bank SBI offers 6.85 percent interest on deposit for five years and up to 10 years, while for senior citizens it is 7.35 per cent. On savings accounts, most banks offer 3.5 percent interest. Post office savings account earns 4 per cent.
India Signs Financing Loan Agreement With World Bank For UKWDP
A Loan Agreement for IBRD Credit of US$74 million equivalent for the Uttrakhand Workforce Development Project (UKWDP) was signed with the World Bank.
The Project objective is to improve the quality and relevance of training at priority Industrial Training Institutes (ITIs) and to increase the number of labor-market-relevant workers through short term training in Uttrakhand.
Twenty-five ITI’s have been selected – 13 located in District Centers and 12 ITI’s that are well-linked to industries. Two out of four women’s ITIs in the State will be included in the list.
The Project has a 5-year grace period, and a maturity of 17 years. The closing date for the Project is 30th June, 2023.
Government Appoints New MD & CEOs At 10 PSBs
The government has cleared the appointment of chief executive officers and managing directors (CEOs and MDs) at 10 public sector banks. They are part of the 15 names recommended by the Bank Boards Bureau for elevation.
Of those named, five are currently the deputy managing directors of State Bank of India (SBI) while the other five are executive directors (EDs) at different government-owned banks.
Below is the list of people appointed as MD and CEO at various PSBs:
- Padmaja Chunduru – Indian Bank – until August 31, 2021.
- Mrutyunjay Mahapatra – Syndicate Bank – until May 31, 2020.
- Pallav Mohapatra – Central Bank of India – until February 28, 2021.
- Packirisamy – Andhra Bank – until February 28, 2021.
- Karnam Sekar – Dena Bank – until June 30, 2020.
All of the above people are currently deputy MDs at SBI.
- SS Mallikarajuna Rao – Allahabad Bank for an initial period of three years and could be extendable up to attaining his age of superannuation on January 31, 2022. At present, he is the ED of Syndicate Bank.
- AS Rajeev – Bank of Maharashtra for an initial period of three years from or after December 1, 2018, extendable up to two years after “review of his performance” or further orders. He is currently the ED of Indian Bank.
- Atul Kumar Goel – UCO Bank. He is currently the ED at Union Bank of India.
- S Harisankar – Punjab & Sind Bank. He is the Executive Director of Allahabad Bank.
- Ashok Kumar Pradhan – United Bank of India. Currently, he is the ED of the same bank.
Tajinder Mukherjee Takes Over As CMD of NICL
Tajinder Mukherjee has been appointed as the new Chairman and Managing Director of National Insurance Company Limited (NIC).
Prior to her joining the NIC, she was the General Manager and Chief Underwriting Officer of New India Assurance.
With over 33 years of experience, Mukherjee who joined the United India Insurance Company in 1983, has held several important portfolios
CEO: K. Sanath Kumar
China’s Hangzhou to Host 2022 Asian Para Games
The Asian Paralympic Committee (APC) has confirmed that Hangzhou in China will host the fourth edition of Asian Para Games in 2022. The confirmation came following a visit to Hangzhou in July by APC President Majid Rashed and CEO Tarek Souei.
The third Asian Para Games will be held in Jakarta, Indonesia in 2018.