Current Affairs 12th May 2021 , Daily GK Update

Daily GK Update 12 May 2021, Daily Current Affairs 2021 

Current Affairs 12th May 2021: Here we are regularly update the Daily GK Update & daily Current affairs 2021. If you are preparing for Government Job Exams then it is very important for you to read the Daily Current Affairs 2021, Daily GK Update 2021. All the important updates based on current affairs 2021 are included in this Daily Current Affairs 2021 article. All the serious candidates are advised to bookmark this page and read the GK Update on daily basis. It will help you mug up the important current affairs 2020 / Daily GK Update for LIC, IBPS, SBI PO, SSC, Railways  , SBI Clerk 2021 State and NRA CET Exam of 2021.

Banking & Financial

UN raises India’s growth forecast to 7.5% for calendar year 2021

• The United Nations has raised India’s growth forecast to 7.5 per cent for calendar year 2021, marking a 0.2 per cent increase from its projection in January, but said the country’s outlook for the year remains highly fragile.
• The surging Covid-19 infections and inadequate vaccination progress in many countries threaten a broad-based recovery of the world economy.

Moody’s cuts India’s FY22 GDP forecast to 9.3% from 13.7% earlier

• Moody’s Investors Service slashed India’s growth forecast to 9.3% for the current financial year, a 4.4 percentage point drop from 13.7% projected in February, on account of the second wave of Covid-19 surging across states.
• The negative economic impact of the resurgence in cases will be limited to the April-June quarter and would be followed by a strong rebound in the second half of FY22.

Note: India GDP projected F22 (2021-2022)

• SBI-10.4%
• IMF-12.5%
• India Ratings and Research (Ind-Ra)- 10.1%
• S&P Global Ratings-11%
• United Nations Conference on Trade and Development (UNCTAD)-5%
• HSBC: 11.2%
• Care Rating– 10.2%

Jana Small Finance Bank launches ‘I choose my number’ feature

• Jana Small Finance Bank has announced the launch of the “I choose my number” feature for all its customers across India.
• This new feature gives the bank’s existing and new customers the option to select their favourite numbers as their savings or current account number.

Note: About Jana Small Finance Bank

• MD and CEO: Ajay Kanwal
• Headquarters: Bengaluru.
• Founded: 24 July 2006
• Tagline: ‘Paise Ki Kadar’

 Award

Gita Mittal to be awarded Arline Pacht Global Vision Award

• Former Chief Justice of Jammu & Kashmir High Court, Justice Gita Mittal, has been declared as one of the two recipients of the Arline Pacht Global Vision Award for 2021.
• She shares the honour with Margarita Luna Ramos from Mexico.
• Arline Pacht Global Vision Award: International Association of Women Judges (IAWJ) instituted this award in 2016. Justice Mittal would be the first Indian judge to receive the award. Award is presented to a sitting/retired woman judge to recognize her contribution to IAWJ.

Appointment

PESB picks Arun Kumar Singh as next CMD of BPCL

• The Public Enterprises Selection Board (PESB), the government’s head-hunter, has picked Arun Kumar Singh as the chairman and managing director of state-run oil refining and marketing firm Bharat Petroleum Corporation Ltd (BPCL).
• Arun Kumar Singh is currently director, marketing at BPCL and holding additional charge of Director, Refineries.

Note: About BPCL

• Headquarters: Mumbai
• Founded: 1952

Padmakumar Nair Appointed As CEO Of National Asset Reconstruction Company

• Padmakumar M Nair, Chief General Manager of Stressed Assets Resolution Group at SBI, will head the National Asset Reconstruction Company Ltd, the proposed bad bank for taking over stressed assets of lenders.
• Finance Minister Nirmala Sitharaman in the budget for 2021-22 had announced that an asset reconstruction company or a bad bank would be set up to consolidate and take over existing stressed assets of lenders and undertake their resolution.
• Bad bank refers to a financial institution that takes over bad assets of lenders and undertakes resolution.

Important Day

12th May: International Nurses Day

• International Nurses Day is a day observed every year on May 12 to honour nurses. The International Council of Nurses (ICN) celebrated the day for the first time in 1965.
• The day also happens to be the birth anniversary of Florence Nightingale, an English nurse who was also a social reformer and a statistician.
• Theme 2021: Nureses: A Voice to Lead – A vision for future healthcare.

Obituary

Table tennis veteran Chandrasekar passes away

• Veteran table tennis player and coach Venugopal Chandrasekhar passed away on 12^th May in Chennai. Popularly known as ‘Chandra’, he died at the age of 63.
• Chandra was one of the most popular paddlers of his time who won three national championships. He was the president of Tamizhaga Table Tennis Association.

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