DAILY CURRENT
AFFAIRS: 5 SEP 2017
(DAILY NEWS INDIA)
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
