18 September 2018 - Daily Current Affairs

18 September 2018 - Daily Current Affairs

1. Govt proposes to merge Dena Bank, Vijaya Bank & Bank of Baroda

• The union government has announced its plan to merge three public sector banks (PSBs) Bank of Baroda, Vijaya Bank, and Dena Bank to create the country’s third-largest lender as part of efforts to revive credit and economic growth.
• The merger will make the banks stronger and sustainable as well as increase their lending ability.
• The move follows top lender State Bank of India last year merging with itself five of its subsidiary banks and taking over Bharatiya Mahila Bank.
• Earlier, The union government has also moved to offload its majority stake in IDBI Bank to Life Insurance Corporation of India.

2. PayU India gets RBI approval to operate its own NBFC

• PayU India has received Reserve Bank of India’s (RBI) approval to operate its own non-banking financial company (NBFC).
• It will help PayU promote inclusive growth in the country by catering to the diverse financial needs of various segments of the society.
• The approval from the central bank is subject to “certain pending RBI compliance”.

International Affairs

3. India & Malta sign three MoUs in the fields of Maritime Cooperation, Tourism and Training

• India and Malta have signed three MoUs in the fields of Maritime Cooperation, Tourism and Training after delegation-level talks between Venkaiah Naidu (Vice President) and Ms. Marie-Louise Coleiro Preca (President of Malta).
• Mr. Naidu is in Malta in the second phase of his visit to three European countries.
• India is the main source of affordable generic drugs in the world and can cooperate in Wellness and Ayurveda sectors.

4. PM Modi and Sheikh Hasina jointly flag off construction of Indo-Bangla pipeline project

• Today, Prime Minister Narendra Modi and Sheikh Hasina (Prime Minister of Bangladesh) has jointly flagged off the construction of India-Bangladesh Friendship Product Pipeline Project through video conferencing.
• The 130-kilometer pipeline will connect Siliguri (West Bengal- India) and Parbatipur (Dinajpur district of Bangladesh).
• The estimated project cost will be 346 crore rupees and it will be completed in 30-month time.
• The capacity of the pipeline will be 1 million metric tons per annum.
• The six-kilometer Indian leg of the pipeline project will be implemented by the Assam-based Numaligarh Refinery Limited and the remaining 124 kilometers of the pipeline project will be implemented by Bangladesh Petroleum Corporation.

Note:

•  The project will replace the existing practice of sending diesel by rail covering a distance of 510 kilometers.

5. Japan conducts the first submarine drill in disputed South China Sea

• Japan has carried out its first submarine drill in the disputed South China Sea, a move that could provoke Beijing which claims most of the disputed waters.
• The anti-submarine drill was conducted in the region to improve strategic techniques.
• China claims most of the resource-rich South China Sea, despite competing claims from Brunei, Malaysia, the Philippines, Taiwan and Vietnam.

6. India & Sri Lanka sign MoU for construction temp-controlled warehouse in Dambulla

• India and Sri Lanka have signed a Memorandum of Understanding (MoU) for construction of a 5000-metric ton temperature-controlled warehouse (for fruits and vegetables) in Dambulla of Central Province.
• The warehouse will be constructed with an Indian grant assistance of 30 crore Sri Lankan rupees.
• This initiative will benefit the farming community by reducing the wastage, particularly in the peak season when there is surplus production.

Appointments

7. Moutaz Mousa Abdallah becomes Sudan’s new Prime Minister

• Moutaz Mousa Abdallah (51-years) has become Sudan’s new Prime Minister.
• A 21-member cabinet was sworn in at the presidential palace in Khartoum.
• Earlier, he served as Minister of Irrigation and Electricity.
• Mousa Abdallah is also holding the finance portfolio in a bid to revive the country’s ailing economy.

8. Prashant Kumar takes charge as SBI CFO

• Prashant Kumar has taken charge as the Chief Financial Officer (CFO) of the State Bank of India.
• Earlier, CFO Anshula Kant has been promoted as Managing Director of SBI.
• Prior to this appointment, Kumar was designated as Deputy Managing Director (HR) & Corporate Development Officer of India's largest bank.
• Anshula Kant is a science graduate and a Law graduate from Delhi University and joined the Bank in the year 1983 as Probationary Officer.

Note:

• A chief financial officer (CFO) is the senior executive responsible for managing the financial actions of a company.

Obituaries

9. Wrestler Ganpatrao Andalkar passes away

• Well-known wrestler Ganpatrao Andalkar (83-year) passed away at a private hospital in Pune yesterday.
• Former Olympian Andalkar (took part in the 1964 Tokyo Olympics) had bagged the coveted "Hind Kesari" title in 1960.
• He also went on to clinch Gold and Silver medals in two different weight categories in the 1962 Jakarta Asian Games.
• Andalkar was also a recipient of the Arjuna award in 1964 and the Maharashtra government's 'Shiv Chhatrapati Award' in 1982 for his contribution to wrestling.

10. India’s first woman IAS officer passes away

• India’s first woman IAS officer (after Independence) Anna Rajam Malhotra (91-year) passed away in Mumbai.
• Anna Rajam Malhotra joined civil services in 1951 and opted for the Madras cadre under then Chief Minister C. Rajagopalachari.
• She later married R.N. Malhotra, who served as Governor of the Reserve Bank of India (from 1985 to 1990).

Note:

• Malhotra born Anna Rajam George in Kerala’s Ernakulam district,she moved to Chennai after her schooling in Kozhikode to pursue higher education at the University of Madras.
• Ms. Malhotra joined the civil services in 1951 and opted for the Madras cadre.

Sports

11. China Open Badminton tournament kicks off at Changzhou today

• Today, The China Open Badminton tournament kicks off at Olympic Sports Center Xincheng Gymnasium in Changzhou, Jiangsu, China.
• Indian shuttlers will also figure in Men's, Women's and Mixed Doubles categories.
• Ace Indian shuttlers PV Sindhu and Saina Nehwal will be seen in action in the Singles opening round.

Note:

• The 2018 China Open is a badminton tournament which will take place at Olympic Sports Center Xincheng Gymnasium in Changzhou, Jiangsu, China (18 to 23 September 2018).
• It had a total prize of USD1,000,000.
• This tournament is organized by Chinese Badminton Association and sanctioned by the BWF.