National News
1. Prime Minister
Launches India Post Payments Bank
i.
Prime Minister Narendra Modi launched a payments bank of the Department of
Posts that
will take banking to the doorstep of every citizen through an unmatched network
of post offices and almost 3 lakh postmen and ‘Grameen Dak
Sewaks’.
ii.
The India Post Payments Bank (IPPB) will be like any other banks but its operations will be on a
smaller scale without involving any credit risk. It will carry out most banking
operations like accepting deposits but won’t advance loans or issue credit
cards.
iii. The payments bank
will accept deposits of up to Rs 1 lakh, offer remittance services, mobile payments/transfers/purchases
and other banking services like ATM/debit cards, net banking and third-party
fund transfers. The IPPB would be available through 650 branches and 3,250
access points.
Static/Current Takeaways
Important for Indian Bank PO Exam 2018-
·
Suresh
Kumar Sethi is the Managing Director & CEO of IPPB.
International News
2. AYUSH Minister
Inaugurates 4th International Ayurveda Congress at Netherlands
i.
Minister of State for AYUSH Shripad Yesso Naik inaugurated the Fourth
International Ayurveda Congress (IAvC) at the Netherlands.
ii. The congress would focus on
promotion and propagation of Ayurveda in the Netherlands and its neighbouring
countries of Europe. A special Seminar is also organized by the Indian Embassy
titled “India-Netherlands collaboration in Healthcare, including
Ayurveda”.
Static/Current Takeaways
Important for Indian Bank PO Exam 2018-
·
Netherlands Capital: Amsterdam, Currency: Euro and USD.
3. 4th
BIMSTEC Summit Concludes
i. The
4th BIMSTEC Summit has been successfully concluded in Kathmandu, the capital
of Nepal.
ii. The Prime Minister of Nepal K.P. Sharma Oli presented draft Kathmandu declaration which was unanimously adopted by the all member states.
ii. The Prime Minister of Nepal K.P. Sharma Oli presented draft Kathmandu declaration which was unanimously adopted by the all member states.
iii. Key points of
the Kathmandu Declaration:
1. The Kathmandu Declaration
has underlined the importance of multidimensional connectivity as
a key enabler to economic integration for the shared prosperity of the
region.
2. The declaration also
highlighted the importance of trade and investment as one of
the major contributing factors for fostering economic and social development in
the region.
3. The BIMSTEC leaders
strongly condemned terrorism in all its forms and
manifestations and stressed that there can be no justification whatsoever for
any act of terrorism.
4. An MoU was also
signed during concluding session of 4th BIMSTEC summit on the establishment
of BIMSTEC Grid Interconnection to enhance energy cooperation among
the member states.
5. Sri
Lanka has become the new chair of the BIMSTEC.
Banking/Economy News
4. SBI Hikes Benchmark
Lending Rate By 0.2%
i. Home, auto and other
loans would become costlier as the country’s largest lender, State Bank
of India, has increased its benchmark lending rate or MCLR by 0.2%, a
development followed by other lenders. The new rates are effective
with immediate effect.
ii. SBI has increased the
lending rate by 20 basis points across all tenors up to three years. Now SBI’s
overnight and one-month tenor marginal cost of funds based lending rate
(MCLR) stands at 8.1% as against 7.9%.
Static/Current Takeaways
Important for Indian Bank PO Exam 2018-
·
SBI Chairman- Rajnish Kumar, Headquarters- Mumbai, Established
on- 01st July 1955.
5. GDP Growth
Soars To 8.2% In 1st Quarter Of Current Fiscal
i. Indian economy
grew by 8.2% in
the first quarter (April-June) of the current fiscal, the
highest in over two years. This announcement was made by Finance Minister,
Arun Jaitley. The manufacturing sector grew by 13.5% which
signals very good turnaround in the sector.
ii. In a related development
Reserve Bank of India stated Non-food credit growth in the system
accelerated to 10.6% for July as compared to previous year, driven by
loans to the services sector growing at the faster clip.
iii. Credit to the services sector grew 23% for the reporting period, up from the year-ago period's 4.9%.
iii. Credit to the services sector grew 23% for the reporting period, up from the year-ago period's 4.9%.
Appointments
6. Binoy Kumar Assumes
Charge of Secretary in Steel Ministry
i. Binoy Kumar has taken
over as Secretary, Ministry of Steel, Government of India. He had been posted as
Officer on Special Duty in the Ministry.
ii. Prior to this, Binoy Kumar
held the post of Special Secretary, Logistics, in the Department of
Commerce.
Asian Games 2018
7. Amit Panghal Wins Gold In Boxing
i. India's 22-year-old boxer Amit
Panghal defeated 2016 Olympic champion Hasanboy Dusmatov (Uzbekistan) in
the men's 49kg final to bag gold at the Asian Games 2018.
ii. Amit was the only Indian
boxer who made it to a final at the quadrennial event.
Static/Current Takeaways
Important for Indian Bank PO Exam 2018-
·
The
Host cities for Asian Games 2018 are Jakarta and Palembang,
Indonesia.
·
Bhin Bhin, Kaka, and Atung are the mascots of the 2018 Asian
Games.
8. Pranab, Shibnath Wins India's 1st Ever Bridge Gold
India's 60-year-old Pranab Bardhan and 56-year-old Shibnath Sarkar |
i. India's 60-year-old Pranab
Bardhan and 56-year-old Shibnath Sarkar won the men's pair bridge event to bag
the country's first-ever gold in bridge at the Asian Games.
ii. The card game has been
featured as a sport at the Asian Games for the first time, in the 2018
edition. China won silver in this event.
Obituaries
9. Jain Muni Tarun Sagar Passes Away
i.
Jain Muni Tarun Sagar passed
away at the age of 51 in Delhi's Radhapuri Jain temple due to prolonged
illness.
ii. The monk, who was known for his lecture series 'Kadve Pravachan', was suffering from jaundice and other ailments.
ii. The monk, who was known for his lecture series 'Kadve Pravachan', was suffering from jaundice and other ailments.