18th November 2020 Current Affairs


Here is the day by day GK replace of 18th November 2020 overlaying the next information headlines: Lakshmi Vilas Bank, Reserve Bank Innovation Hub, Smriti Mandhana, Goldman Sachs.

Daily GK updates are included with the essential information that made the present affairs headlines for banking or different aggressive exams. Daily GK Update is the entire bag of the essential information that held all day lengthy. One ought to have full information in regards to the banking phrases, present affairs information, and so forth. 

Banking News

1. RBI places Lakshmi Vilas Bank below moratorium

  • The Reserve Bank of India (RBI) has positioned cash-strapped Lakshmi Vilas Bank (LVB) below a moratorium for a interval of 1 month and restricted withdrawals at Rs 25,000 for depositors, owing to a critical deterioration within the lender’s monetary place.
  • The central financial institution additionally outdated the board of administrators of LVB for a interval of 30 days owing to a critical deterioration within the monetary place of the financial institution.
  • The transfer was introduced via an order by the Ministry of Finance.
  • The RBI has additionally drafted a scheme of amalgamation for LVB with DBS Bank India Ltd. and goals to finish the merger course of earlier than the moratorium interval ends.
  • DBS Bank India Ltd (DBIL) is a wholly-owned subsidiary of DBS Bank Ltd, Singapore (“DBS”), which in flip is a subsidiary of Asia’s main monetary providers group, DBS Group Holdings Limited.
  • The financial institution invited recommendations and objections, if any, from members, depositors and different collectors of transferor financial institution (LVB) and transferee financial institution (DBIL), on the draft scheme.
  • DBIL will herald extra capital of 2,500 crore upfront, to assist credit score progress of the merged entity.

Important takeaways for all aggressive exams:

  • Lakshmi Vilas Bank Headquarters: Chennai, Tamil Nadu.
  • Lakshmi Vilas Bank Founded: 1926.
  • Lakshmi Vilas Bank President: Avtar Singh Monga.

2. RBI creates Reserve Bank Innovation Hub to spice up monetary inclusion

  • The Reserve Bank of India has created a Reserve Bank Innovation Hub (RBIH).
  • The purpose of Innovation Hub is to advertise innovation throughout the monetary sector by leveraging on expertise and creating an atmosphere which might facilitate and foster innovation.
  • RBIH will collaborate with monetary sector establishments, expertise trade and educational establishments and coordinate efforts for alternate of concepts and growth of prototypes associated to monetary improvements.
  • Reserve Bank Innovation Hub (RBIH) could be managed by a Governing Council (GC) consisting of 10 members (together with a chairperson).
  • Shri Senapathy (Kris) Gopalakrishnan, co-founder and former co-Chairman, Infosys, has been appointed as the primary Chairperson of the RBIH.

Important takeaways for all aggressive exams:

  • Governor of RBI: Shaktikanta Das.
  • Deputy Governors of RBI: BP Kanungo, MK Jain, MD Patra and Rajeshwar Rao.
  • Headquarters of RBI: Mumbai, Maharashtra.

3. Equitas Small Finance Bank appoints Smriti Mandhana as model ambassador

  • Equitas Small Finance Bank has launched a women-centred product ‘Eva’.
  • The Bank has roped in Indian Woman cricketer Smriti Mandhana because the model ambassador for its newly launched product ‘EVA’.
  • Eva is exclusive financial savings account for ladies to deal with the well-being of Indian girls in each facet comparable to well being, wealth and prosperity.

Important takeaways for all aggressive exams:

  • Equitas Small Finance Bank Chairman: Arun Ramanathan.
  • Equitas Small Finance Bank MD and CEO: Vasudevan Pathangi Narasimhan.
  • Equitas Small Finance Bank Headquarter: Chennai, Tamil Nadu.

Economy News

4. Goldman Sachs Projects India’s GDP Forecast at -10.3% in FY21

  • The Investment financial institution, Goldman Sachs has revised upwards the expansion forecast for India in FY21 to -10.3% from its earlier projection of -14.8% in September 2020.
  • For the monetary 12 months 2021-22 (FY22), the Goldman Sachs has projected India’s GDP at 13%.

Defence News

5. 2nd Phase of Exercise Malabar 2020 begins in Arabian Sea

  • The second part of Exercise Malabar 2020 has been organised within the Northern Arabian Sea from 17 to twenty November 2020.
  • The first Phase of Exercise Malabar 2020 was performed within the Bay of Bengal from 03 to 06 November 2020.
  • Exercise Malabar 2020 is the twenty fourth version of MALABAR.
  • The second part will witness joint operations, centred across the Vikramaditya Carrier Battle Group of the Indian Navy and Nimitz Carrier Strike Group of the US Navy.
  • It would come with cross-deck flying operations and superior air defence workouts, superior floor and anti-submarine warfare workouts, seamanship evolutions and weapon firings to additional improve interoperability and synergy between the 4 pleasant navies.

Summits and Conferences

6. PM Modi Virtually Attends twelfth BRICS Summit

  • Prime Minister Narendra Modi has nearly addressed the twelfth (BRICS) Summit.
  • The Summit was held below the Chairmanship of Russian President Vladimir Putin. India will probably be taking on the Chairmanship of the BRICS in 2021 and host the thirteenth BRICS Summit in 2021.
  • It could be the third time that India will take over the BRICS Presidency since its inception. Previously India was the Chair in 2012 and 2016.
  • The theme of the twelfth version of BRICS Summit was “Global stability, shared security and innovative growth”.
  • The key points mentioned by the leaders included intra-BRICS cooperation and different key points within the international context, just like the reform of the multilateral system, measures to mitigate the influence of the continued COVID-19 pandemic, cooperation in Counter-Terrorism, commerce, well being, power and other people to folks exchanges.

7. PM Modi addresses third Annual Bloomberg New Economy Forum

  • Prime Minister Narendra Modi has addressed the third Annual Bloomberg New Economy Forum via video-conferencing.
  • The discussion board witnessed discussions on refuelling the financial system and charting a course for the longer term, because the world financial system is grappling with the COVID-19 pandemic.
  • Some different Speakers of the discussion board included Director-general of the World Health Organisation (WHO) Tedros Adhanom Ghebreyesus, former UK Prime Minister Tony Blair, former US President Bill Clinton, Microsoft founder Bill Gates, and Secretary-General of the United Nations Antonio Guterres.

Sports News

8. Novak Djokovic lifts ATP Year-end No. 1 Trophy for sixth time

  • Serbian tennis star Novak Djokovic has given the ATP Tour No. 1 trophy on 15 November 2020, for ending 2020 because the year-end No. 1 (world primary).
  • With this, he has grow to be the one second participant in tennis historical past, after Pete Sampras, to obtain the trophy sixth time.
  • Earlier Djokovic had completed as world primary in 2011, 2012, 2014, 2015 and 2018.
  • Before this, solely Pete Sampras has managed to complete six years on prime of the rankings which he did between 1993 and 1998.

Important Days

9. third Naturopathy Day is widely known on 18 November

  • The National Naturopathy Day is noticed in India on 18 November yearly, to advertise optimistic psychological and bodily well being via a drugless system of medication, referred to as as Naturopathy.
  • The 48-day program of webinars will proceed until the third National Naturopathy Day, which falls on 18 November 2020.
  • The day was declared by the Ministry of AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homeopathy), Government of India, on November 18, 2018.

Important takeaways for all aggressive exams:

  • Minister of State (IC) of the Ministry of AYUSH: Shripad Yesso Naik

10. World Day of Remembrance for Road Traffic Victims 2020

  • World Day of Remembrance for Road Traffic Victims is marked yearly on Third Sunday within the month of November. In 2020, World Day of Remembrance for Road Traffic Victims falls on 15 November 2020.
  • The function of the day is to recollect these killed and injured on the roads, along with their households, buddies, and others affected.
  • The theme of 2020 World Day of Remembrance for Road Traffic Victims is “First Responders”.
  • The day was began by the British highway crash sufferer charity, RoadPeace, in 1993 and was adopted by the United Nations General Assembly in 2005.

11. National Epilepsy Day 2020

  • In India, November 17 is noticed yearly as National Epilepsy Day, to create consciousness about epilepsy.
  • The month of November is noticed as ‘National Epilepsy Awareness Month’. This National Epilepsy Day is noticed by the Epilepsy Foundation of India.
  • Epilepsy is a diversified set of persistent neurological disarray and causes sudden seizures and matches.
  • The seizures of epilepsy consequence because of the uncommon and excessive actions within the mind and the seizures additionally consequence from the hypersynchronous neuronal mind exercise.

Obituaries News

12. Rajasthan Minister Bhanwarlal Meghwal passes away

  • Rajasthan Social Justice and Empowerment Minister Bhanwarlal Meghwal handed away.
  • The five-time MLA represented the Sujangarh meeting constituency of Churu district of the state.

Miscellaneous News

13. PM Modi unveils ‘Statue of Peace’ in Rajasthan

  • Prime Minister Narendra Modi has nearly unveiled the ‘Statue of Peace’ devoted to Jain Monk Acharya Shree Vijay Vallabh Surishwarji Maharaj.
  • The 151-inch (12.6 ft) tall statue was inaugurated by PM Modi on the event of the 151st beginning anniversary of Acharya Shree Vijay Vallabhsuri, at Vijay Vallabh Sadhana Kendra, Jetpura, in Pali, Rajasthan.
  • The Statue of Peace has been created from Ashtadhatu, which implies 8 metals, and consists of Copper as the foremost constituent.

14. Asia’s 1st photo voltaic power-enabled Textile Mill to be unveiled in Maharashtra

  • The first photo voltaic power-enabled Textile Mill in Asia is about to be arrange in Parbhani district, Maharashtra.
  • Spread throughout 30 acres of land, the Jai Bhawani girls’s cooperative textile mill will probably be first in Asia that may function totally on solar energy. The total value of organising the venture is round Rs. 100 crore.
  • Once useful, the mill will course of cotton to fabric and would offer jobs to many ladies within the district.
  • Parbhani is the main cotton-producing district in Maharashtra and with the operationalization of the mill, it is going to give momentum to the economic sector within the district.