Daily GK Updates: 7th October 2020

“Dinesh Kumar Khara appointed SBI chairman for three years.”


  • Dinesh Kumar Khara has been appointed chairman of State Bank of India(SBI) for three years starting October 7.
  • Khara has been in charge of the bank’s associates and subsidiaries in his role as managing director (MD). His tenure saw the listing of the bank’s two insurance arms and its credit card company.
  •  If the government does indeed decide to bear the compound interest component for borrowers who took the moratorium, banks will have to launch a mammoth administrative exercise.
  • An institution the size of SBI will be particularly hard-pressed to juggle this exercise with its regular business. Simultaneously, the old bugbear of bad loans will also have to be kept in check.

Source: Financial Express

“MEITY approves 16 applicants for claiming benefits under the PLI scheme.”

  • The Ministry of Electronics and Information and Technology (MeitY) has approved 16 applicants, including Samsung, Foxconn Hon Hai, Pegatron, Lava, and Bhagwati (Micromax), among others, under the Production Linked Incentive (PLI) scheme.
  • Samsung, Foxconn Hon Hai, Rising Star, Wistron and Pegatron are the international phone manufacturing companies approved under the PLI scheme in Mobile Phone (invoice value Rs15,000 and above) segment.
  • The PLI scheme is aimed at increasing Samsung and Apple’s manufacturing base in the country.
  • The 16 companies approved under the scheme are expected to lead to the total production of over 10.5 lakh crore in the next five years.

Source: Money Control

“3 scientists share Nobel physics prize for black hole research.”

  • The 2020 Nobel Prize for physics has been awarded to Roger Penrose for black hole discovery and Reinhard Genzel and Andrea Ghez for discovering “a supermassive compact object at the centre of our galaxy”.
  • The three laureates share this year’s Nobel Prize in Physics for their discoveries about one of the most exotic phenomena in the universe, the black hole, the Nobel committee said.
  • Roger Penrose invented ingenious mathematical methods to explore Albert Einstein’s general theory of relativity. He showed that the  theory leads to the formation of black holes, those monsters in time and space that capture everything that enters them.
  • Reinhard Genzel and Andrea Ghez discovered that an invisible and extremely heavy object governs the orbits of stars at the centre of our galaxy. A supermassive black hole is the only currently known explanation.

Source: Times of India

“M A Ganapathy Appointed BCAS Chief.”

  • Senior IPS officer M A Ganapathy has been appointed as the Director-General of Bureau of Civil Aviation Security (BCAS), according to a Personnel Ministry order issued on Tuesday.
  • He is a 1986 batch IPS officer of Uttarakhand cadre.
  • The Appointments Committee of the Cabinet has approved the appointment of Ganapathy, IPS, to the post of Director-General, BCAS, for a tenure up to his superannuation on February 29, 2024, the order said.
  • The post of BCAS chief fell vacant after Rakesh Asthana was appointed as the Director-General of Border Security Force in August.

Source: Republic World 

“IFFCO, Prasar Bharati sign MoU to broadcast & promote new agriculture technology & innovations.”

  • Prasar Bharati and Indian Farmers Fertilizer Cooperative Limited, IFFCO have signed a MoU to broadcast and promote new agriculture technology and innovations.
  • According to the agreement, DD Kisan will broadcast various innovative techniques being adopted in agriculture field in easy language through 30 minutes program series for the benefit of farmers.
  • To make the farmers Atamnirbhar, it is necessary that these new agriculture techniques and their implementation should be explained to the farmers. The MoU will help in achieving this objective.

Source: News On Air     

“Afghanistan opener Najeeb Tarakai succumbs to fatal injuries suffered in road accident, dies at the age of 29.”

  • Afghanistan’s opening batsman Najeeb Tarakai, who appeared in 12 T20Is and 1 ODI between 2014-2019, has succumbed to fatal injuries suffered in a road accident that he met last week.
  • The official handle of the Afghanistan Cricket Board, on October 3, tweeted that the 29-year-old was “severely injured in a car accident” on Friday, October 2, and had to undergo a surgery in Nangarhar.
  • The right-handed batsman last appeared in a competitive cricket fixture in September, participating in the Shpageeza Premier League, represetating Mis Ainak Knights.
  • After making his international debut in 2014, in a game against Bangladesh in Dhaka, he went on to play 11 more T20Is and play his last international game in September last year. His only ODI appearance came against Ireland in 2017, in Greater Noida, wherein he only managed to score 5 off 18.

Source: India Today           

“Govt appoints RBI Monetary Policy Committee’s new members.”

  • The government appointed three eminent economists Ashima Goyal, Jayanth R Varma and Shashanka Bhide as members of the rate-setting Monetary Policy Committee of the RBI, sources said.
  • The Appointments Committee of the Cabinet (ACC), headed by the prime minister, approved the names, the sources said.
  • As per the RBI Act, the three new members would have four-year terms.
  • The RBI had postponed the last meeting of the MPC, which must have a quorum of four, as the appointment of independent members was delayed.

Source: Zee News

“Union Minister Piyush Goyal to announce results of first edition of National Startup Awards on October 6.”

  • Minister of Commerce and Industry Piyush Goyal will release the results of the first edition of National Startup Awards on Tuesday.
  • Ministry of Commerce and Industry in a statement said, the Department for Promotion of Industry and Internal Trade (DPIIT) has conceived the first ever National Startup Awards to recognize and reward outstanding Startups and ecosystem enablers that are building innovative products or solutions.
  • The first edition of the Awards invited applications across 12 sectors which were further sub-classified into a total of 35 categories.
  • These  sectors include Agriculture, Education, Enterprise Technology, Energy, Finance, Food, Health, Industry 4.0  and Urban Services.
  • The winning Startups will get cash prizes of 5 lakh rupees each, along with opportunities to present their solutions to relevant public authorities and corporates, for potential pilot projects and work orders.

Source: DD News

“India and Myanmar agree to operationalise Sittwe port in the first quarter of 2021.”

  • India and Myanmar have agreed to work towards the operationalization of the Sittwe port in the Rakhine state in the first quarter of 2021.
  • The announcement came through a press release issued by the Ministry of External Affairs after the conclusion of the two day long visit of Chief of Army Staff (COAS) General M M Naravane and Foreign Secretary Harsh Vardhan Shringla to Myanmar on 4-5 October.
  • During the visit COAS and Foreign Secretary called on the State Counsellor Aung San Suu Kyi and Commander in Chief of Defence Services Senior General Min Aung Hlaing among several other senior civilian and army officers.
  • Both sides agreed to further strengthen their partnership in connectivity projects, capacity building, power and energy. They also agreed to deepen economic and trade ties, further facilitate people to people and cultural exchanges, and broad-base their defense exchanges across all the three services.
  • India announced a grant of USD 2 million for the construction of the border haat bridge at Byanyu/Sarsichauk in Chin State that will provide increased economic connectivity between Mizoram and Myanmar.

Source: DD News

“SEBI introduces a new level of risk for mutual fund schemes.”

  • Market regulator Securities and Exchange Board of India (SEBI) has a system of product labelling in place that ensures the investor makes investments in mutual fund schemes that correspond to the investor’s risk profile.
  • The product labelling of mutual funds is based on the concept of ‘Riskometer’ and this meter depicts the level of risk in any specific mutual fund scheme.
  • Till now, the Riskometer depicted five risk areas – Low, Moderately Low, Moderate, Moderately High and High Risk. Going forward, there will be a new risk area for the MF schemes.
  • SEBI, based on the recommendation of Mutual Fund Advisory Committee (MFAC), has reviewed the guidelines for product labeling in mutual funds and has decided to introduce, ‘Very High Risk’ as the sixth risk profile for the MF schemes. 

Source: Financial Express