Daily updates 10 July 2021

10 July 2021
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10th July 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

States News

1. Karnataka to develop 46 Kempegowda heritage sites in Bengaluru

• The Karnataka state government has decided to develop 46 Kempegowda heritage sites located in Bengaluru Urban, Bengaluru Rural, Ramanagara, Chikballapura, and Tumakuru districts, in a bid to promote tourism.
• According to Chief Minister B S Yediyurappa, the sites identified to be in three circuits would be developed at a cost of Rs 223 crore for promoting tourism.
• According to the Authority, these sites are developed to help people acknowledge the contribution of Kempegowda or Nada Prabhu Kempegowda, the founding father of Bengaluru.

Important takeaways for all competitive exams:

• Karnataka Capital: Bengaluru;
• Karnataka Chief minister: B. S. Yediyurappa.

2. Manipur enters India’s railway map as first passenger train reaches the state

• A passenger train Rajdhani Express from Assam’s Silchar railway station has reached the Vaingaichunpao railway station in Manipur for a trial run, putting the state on the Indian Railways map.
• The train covered the distance of 11 km between the two northeastern stations, with railway officials onboard.
• The train halted briefly at Manipur’s Jiribam railway station, where railway officials were greeted by local citizens before the national flag was hoisted accompanied by the national anthem.
• Notably, the Vaingaichunpao-Imphal (capital of Manipur) railway line is also under construction. Once completed, it will be the longest railway tunnel near Imphal.

Important takeaways for all competitive exams:

• Chief Minister of Manipur: N. Biren Singh; Governor: Najma Heptulla.

Appointments News

3. Federal Bank gets RBI nod to re-appoint Shyam Srinivasan as MD & CEO

• Federal Bank shareholders have approved the motion to re-appoint Shyam Srinivasan as the Managing Director and Chief Executive Officer of the lender for a period of three years.
• His reappointment will come into effect from September 23, 2021, to September 22, 2024. Srinivasan took over as Federal Bank MD & CEO in 2010 and has been at the helm since then.
• Srinivasan is among the few foreign bankers who chose to move to smaller Indian banks after fairly long, successful stints in foreign banks (the others include RBL Bank’s Vishwavir Ahuja and DCB Bank’s Murali Natrajan).
• Over the last decade, Srinivasan has been at the helm of Federal, the bank has transformed into a mid-sized private bank with a strong focus on retail business, including gold loans and funding small and medium entrepreneurs.

Important takeaways for all competitive exams:

• Federal Bank Headquarters: Aluva, Kerala;
• Federal Bank Founder: K.P Hormis;
• Federal Bank Founded: 23 April 1931.

4. ICC releases Manu Sawhney as CEO

• The International Cricket Council (ICC) has discontinued the services of Manu Sawhney as the Chief Executive Officer (CEO) with immediate effect. The decision was taken by the ICC Board during its meeting.
• Geoff Allardice will continue as Acting CEO supported by the Leadership Team working closely with the ICC Board.
• Sawhney was suspended in March following various allegations in an internal review conducted by an external agency. While Sawhney had referred to the review as a witch-hunt, the ICC Board on Thursday decided to sever ties with the sports management veteran.

Important takeaways for all competitive exams:

• ICC Headquarters: Dubai, United Arab Emirates;

• ICC Founded: 15 June 1909;

• ICC Deputy Chairman: Imran Khwaja;

• ICC Chairman: Greg Barclay.

Agreements News

5. Bharat Dynamics Ltd signs Rs 499-crore deal with Indian Air Force

• The Bharat Dynamics Limited (BDL) has signed a contract with the Ministry of Defence for the manufacture and supply of Akash missiles to the Indian Air Force (IAF). The total worth of the deal is around Rs 499 crore.
• CMD, BDL Commodore Siddharth Mishra (Retd) stated that BDL is supplying Akash Missiles to the Indian Army and Indian Air Force.
• With the announcement from the Union Cabinet regarding clearance of Akash Weapon System for Export, the Company is exploring offering Akash for export to foreign countries.
• Akash is a medium-range mobile surface-to-air missile (SAM) system, being developed under India’s Integrated Guided Missile Development Programme (IGMDP).
• BDL is the prime production agency for projects under IGMDP.
• Akash missile is developed by the Defence Research and Development Organisation (DRDO) and produced by Bharat Dynamics Limited (BDL), both for the Indian Army and the Indian Air Force.

Banking News

6. RBI imposes monetary penalty on 14 banks for non-compliance

• The RBI  has imposed penalties on SBI, Bank of Baroda, IndusInd Bank, Bandhan Bank and 10 other lenders for contravention of various regulatory norms, including on lending to NBFCs.
• The penalty imposed on the 14 banks totals Rs 14.5 crore, with a maximum Rs 2 crore fine on Bank of Baroda.
• The central bank imposed Rs 2 crore penalty on the Bank of Baroda, Rs 1 crore each on 12 other banks and Rs 50 lakh on the State Bank of India.
• RBI imposed Rs 1 crore penalty each on Bandhan Bank, Bank of Maharashtra, Central Bank of India, Credit Suisse AG, Indian Bank, IndusInd Bank, Karnataka Bank, Karur Vysya Bank, Punjab and Sind Bank, South Indian Bank, The Jammu & Kashmir Bank and Utkarsh Small Finance Bank.

Important takeaways for all competitive exams:

• RBI 25th Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

7. Axis Bank signs MOU with Indian Army to offer defence service salary package

• The country's third-largest private lender Axis Bank has signed MOU with the Indian Army offering a defence service salary package under its "Power Salute" initiative.
• The Defence service salary package will offer different benefits to all ranks of army officers. The benefits of the MoU will cover both serving Defence personnel as well Defence pensioners.
• According to the bank, it will offer--Personal accidental cover of up to ₹56 lakh to all army personnel; additional up to 8 lakh education grant; total Permanent Disability Cover benefit up to 46 lakh; permanent partial disability cover of up to ₹46 lakh; air accident cover of ₹1 crore, and free additional debit card for a family member.

Important takeaways for all competitive exams:

• Axis Bank Headquarters: Mumbai;
• Axis Bank Founded: 1993;
• Axis Bank MD and CEO of Axis Bank: Amitabh Chaudhry.

8. Axis Bank and Max Bupa Health Insurance enter into a Bancassurance partnership

• Max Bupa Health Insurance, a standalone health insurer, has entered into a bancassurance partnership with Axis Bank, the country’s third-largest private sector bank.
• This partnership will help provide comprehensive health insurance solutions to Axis Bank’s employees and customers.
• The tie-up will enable millions of Axis Bank customers across 4,500 plus branches to gain access to quality healthcare solutions through a range of health insurance products offered by Max Bupa.
• Max Bupa Health Insurance will offer indemnity as well as fixed benefit products, and their customisable variants to the diverse customers of the bank across the country.
• Axis Bank also has an existing health insurance tie-up with Aditya Birla Health Insurance. Bancassurance is a relationship between a bank and an insurance company that is aimed at offering insurance products to the bank’s customers.

Important takeaways for all competitive exams:

• Max Bupa Health Insurance CEO: Krishnan Ramachandran;
• Max Bupa Health Insurance Headquarters: New Delhi, India;
• Max Bupa Health Insurance Founded: 2008.

Awards News

9. Zaila Avant-garde Wins 2021 Scripps National Spelling Bee

• Zaila Avant-garde, an African-American, from New Orleans in Louisiana, has won the 2021 Scripps National Spelling Bee.
• The 14-year-old Avant-garde, who is also an accomplished basketball player, is the first African-American contestant to win the prestigious competition in its 93 years history.
• The 8th-grader Avant-garde correctly spelt “Murraya”, a genus of tropical Asiatic and Australian trees having pinnate leaves and flowers, to win a USD 50,000 prize.
• Scripps National Spelling Bee is an annual spelling bee held in the United States, for children of South Asian descent, to help students improve their spelling, increase their vocabularies, learn concepts and develop correct English usage that will help them all their lives.

Books and Authors

10. Kareena Kapoor introduces a book "The Pregnancy Bible"

• Kareena Kapoor Khan has announced her new book titled Kareena Kapoor Khan's Pregnancy Bible.
• The actor has also called it her 'third child. She shared her experience while writing the book. She was seen wearing a red slip dress as she kept her hair loose parting it in the middle. She was seen bare feet standing near the kitchen countertop.

Important Days

11. National Fish Farmers’ Day: 10 July

• National Fish Farmers’ Day is celebrated every year on 10 July, by the Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying in association with the National Fisheries Development Board (NFDB).
• The event aims to draw attention to changing the way the country manages fisheries resources to ensure sustainable stocks and healthy ecosystems.
• This day is made to honour the fish farmers, aquapreneurs, fisherfolks, stakeholders and whoever else is associated in the fishery for their contribution in the fishery.
• The day is commemorated annually in remembrance of scientists Dr K H Alikunhi and Dr H.L. Chaudhury who had invented induced breeding technology of Indian major carps on 10 July 1957. 2021 will mark 21st National Fish Farmers’ Day.

Miscellaneous News

12. National Film Archive of India adds Aamir Khan's 'PK' to its collection

• National Film Archive of India (NFAI) has announced a significant addition of the original camera negative of Rajkumar Hirani's 2014 film 'PK' in its collection.
• The filmmaker handed the negatives over to Director NFAI, Prakash Magdum, in Mumbai.
• The National Film Archive of India was established as a media unit of the Ministry of Information and Broadcasting in 1964.