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Tuesday, September 12, 2017

DAILY CURRENT AFFAIRS: 5 SEP 2017

DAILY CURRENT AFFAIRS: 5 SEP 2017
(DAILY NEWS INDIA)
SHARED BY: WWW.DAILYGK.IN

1.      JOINT INDIA-NEPAL ARMY EXERCISE BEGINS IN SALJHANDI, NEPAL
i. Nepal India Joint Military Exercise Surya Kiran has launched and it is to be held in Nepal Army Battle School at Saljhandi from September 3 to 16. This is the 12th edition of the exercise.
ii. It will have around 350 troops from each side, focusing on counterinsurgency and counter-terror operations. Surya Kiran series of exercises are held alternately in India and Nepal.
iii. The aim of this exercise is to conduct battalion level joint training with emphasis on Counter Terrorism in mountainous terrain. Aspects of Disaster Management have also been included in the exercise.
vi. The Joint Battalion Level Exercise will enhance defence co-operation and relations between the two nations.


2.      FIRST PROJECT OF BRICS DEVELOPMENT BANK STARTS OPERATION
i. The 1st project funded by The New Development Bank, set up by India and other members of the BRICS grouping of emerging economies, has started operation in Shanghai. The $76 million loan with a maturity length of 17 years was granted to Shanghai Lingang Distributed Solar Power Project, under an agreement signed in December 2016.

3.      UBS LOWERS INDIA GROWTH FORECAST TO 6.6% FOR FINANCIAL YEAR 2018
i. Global brokerage firm UBS has lowered India’s GDP growth forecast to 6.6% from 7.2%. The brokerage said that the growth is expected to rise in coming quarters as the economy is getting normalised post implementation of the GST.
ii. According to official data, India’s economic growth slipped to a 3-year low of 5.7% in April-June as disruptions caused by demonetisation spilled to the 3rd straight quarter amid slowdown in manufacturing activities. The report said reforms like implementation of GST, adoption of inflation targeting, a new bankruptcy code, liberalisation of FDI, measures to curb black money and encouraging digitisation would help in improving the productivity dynamics of the country and lay the foundation of a sustainable growth.

4.      DBS BECOMES 2ND BANK TO GET IN-PRINCIPLE NOD TO OPERATE AS WHOLLY-OWNED UNIT
i. Singapore based bank DBS has got final approval to operate as a wholly-owned subsidiary in India.
ii. DBSDBS was the 1st foreign lender to apply for the new operating WOS model two years ago and its approval was delayed due to lack of precedent. The application has been pending with the finance ministry. DBS is the second bank after State Bank of Mauritius to receive the nod for its operation in India .
5.      KARNATAKA BANK BAGS IDRBT AWARD
i. Karnataka Bank has bagged the ‘best bank’ award among small banks for the use of technology for financial inclusion.                                                                      
ii. It is the 13th IDRBT Banking Technology Excellence Awards 2016-17. Mahabaleshwara MS, MD & CEO of the bank had received the award from Sudarshan Sen, Executive Director of RBI, in Hyderabad.
iii. Mahabaleshwara said in his speech that this recognition will further motivate the bank in implementing its IT strategies more effectively in promoting financial inclusion.

6.      GOVERNMENT FORMS TASK FORCE FOR SPEEDY IMPLEMENTATION NAMAMI GANGE
i. The Union Ministry of Water Resources, River Development, and Ganga Rejuvenation constituted a task force for speedy implementation of various ongoing Namami Gange program.
ii. The task force is expected to have ministers and officials from water resources, urban development, drinking water and sanitation and rural development.
iii. Namami Gange programme is a program of Union Government aiming at integrating various efforts to clean and protect River Ganga.
iv. Namami Gange programme will cover 8 states, 47 towns and 12 rivers under project. It has budgetary outlay of Rs.20,000 cr to accomplish objectives of effective abatement of pollution and conservation and rejuvenation of River Ganga.
v. Nitin Gadkari replaced Uma Bharti in the ministry allegedly as the Namami Ganga Mission.

7.      9TH BRICS SUMMIT @ XIAMEN, CHINA
i. The 9th BRCIS Summit is held from 3-5 Sept, 2017 in Xiamen, China. The participating countries are the five member nations – Brazil, Russia, India, China and South Africa. The summit is hosted by China for the second time after the 2011 Summit.
ii. The 1st BRIC Summit was held in Yekaterinburg, Russia. Since then, the Summit has become an annual event. Till date, eight summits have been held.
iii. The theme of the 2017 BRICS Summit  was “BRICS: Stronger Partnership for a Brighter Future”.

OBJECTIVE QUESTIONS BASED ON TODAY’S NEWS

Q1.  The first project funded by The New Development Bank, set up by India and other members of the BRICS grouping of emerging economies, has started operation in what place?
a)  Fujin
b)  Shangai
c)  Beijing
d)  Xiamen

Q2. Where did the Joint India-Nepal army exercise begins?
a)  Saljhandi
b)  Bharatpur
c)  Kathmandu
d)  Butwal

Q3. Which bank becomes 2nd to get in-principle nod to operate as wholly-owned unit in India?
a)  Bank of United kingdom
b)  State Bank of Mauritius
c)  State Bank of Libenon
d)  DBS Bank

Q4. Which bank bagged the ‘best bank’ award among small banks for the use of technology for financial inclusion in IDRBT Banking Technology Excellence Awards 2016-17?
a)  City union Bank
b)  Andhra Bank
c)  Karnataka Bank
d)  Punjab National Bank

ANSWERS
1 - B    2 - A    3 - D    4 - C   


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