Current Affairs 2019 | Daily GK Updates : 11 October 2019 Daily Current Affairs 2019:
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National (Current Affairs)
♦Mamallapuram 2nd informal summit
- Prime Minister Narendra Modi, wearing the traditional Tamil attire of ‘Veshti’, welcomed Chinese President Xi Jinping at Mamallapuram, also known Mahabalipuram, for the second informal India-China Summit.
- On 12th October, Prime Minister Modi and President Xi will have a one-on-one meeting followed by delegation level talks. Being an informal summit, both the leaders would engage themselves in open and candid talks touching upon several subjects of bilateral, regional and global importance.
♦PM Modi releases commemorative stamp on Marshal of the Air Force Arjan Singh
- Prime Minister Narendra Modi on 9th October attended the ‘at home’ programme of the Indian Air Force to mark its 87th raising day and released a commemorative stamp to honour Marshal of the Air Force late Arjan Singh.
- “This year we mark the birth centenary of Marshal of the Indian Air Force Arjan Singh DFC (Distinguished Flying Cross). As a tribute to his exemplary service to our nation, a stamp was released. May his courage keep motivating the people of our nation for years to come.
Banking & Financial
♦Forex reserve hits lifetime high of $437.83 billion
- The country’s foreign exchange reserves surged by $4.24 billion to touch a record high of $437.83 billion in the week to October 4, according to the latest data from the Reserve Bank of India.
- In the previous week, the reserves had surged by massive $5.02 billion to $433.59 billion.
- Expressed in US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and the yen held in the foreign exchange reserves.
♦Industrial production drops by 1.1% in August
- Signs of slowdown became more pronounced as the government data on 10 October revealed factory output shrank by 1.1% in August, recording the poorest performance in seven years due to a sharp decline in production of capital goods and consumer durable.
- The Index of Industrial Production (IIP) had shown a growth of 4.8% in August 2018. The previous low in IIP was (-) 1.7% in November 2012.
- The manufacturing sector, which contributes over 77% to the IIP, contracted by 1.2%, the lowest in five years, as against a growth of 5.2% in the year-ago month, according to the data released by the National Statistical Office (NSO).
♦GeM signs MOU with Union Bank of India
- Government e-Marketplace (GeM) signed a Memorandum of Understanding (MoU) with Union Bank of India (UBI) in New Delhi on October 10, 2019. Through this partnership, UBI will be able to offer an array of services including transfer of funds through GeM Pool Accounts (GPA), advising of Performance Bank Guarantees (e-PBG) and Earnest Money Deposit (EMD) to the registered users on the GeM portal.
- Benefit: The MoU will facilitate a cashless, paperless and transparent payment system on the portal and will create an efficient procurement system for government entities.
Note: About Union Bank of India
- Headquarters: Mumbai
- CEO: Rajkiran Rai G.
- TAGLINE: Good people to bank with
♦Mukesh Ambani tops Forbes, Adani to number 2
- Reliance Industries Ltd (RIL) chairman Mukesh Ambani has topped the Forbes list of richest Indians for the 12th consecutive year in 2019. With $51.4 billion net worth on Forbes’ list of richest Indians for the year 2019.
- Gautam Adani has jumped eight spots to end at second position with an income pegged at $15.7 billion.
♦Indian passport falls one rank to 82 on the Henley Index
- The Indian passport has dropped by one rank to end at 82 in the latest global passport Index released by Henley & Partners.
- It rose to the position of 81 in 2018, while dropping a position in 2019 report, to 82nd position.
- The first and second position includes three developed Asian countries – namely, Japan, Singapore and South Korea, while the United States ended up in the 6th position.
|1||Japan and Singapore|
|2||South Korea, Germany and Finland|
|3||Denmark, Italy and Luxembourg|
|4||France, Spain and Sweden|
|5||Austria, Netherlands and Portugal|
♦Yes Bank announced the appointment of Anita Pai as a COO
- Yes Bank announced the appointment of Anita Pai as its chief operating officer and Jasneet Bachal as its chief marketing officer.
- Anita Pai was the Senior General Manager and Head of ATM Business, Branch banking Service and Phone Banking at ICICI Bank. She has also been associated with ICICI Prudential Life Insurance Company Limited and HDFC Limited.
Note: About Yes Bank
- CEO: Ravneet Gill
- Headquarters: Mumbai
♦Ethiopian PM Abiy Ahmed Ali wins Peace Nobel
- The prestigious Nobel Peace Prize for 2019 will be awarded to Prime Minister Abiy Ahmed Ali of Ethiopia, the Nobel Committee announced on 11th October.
- Ali has been selected for his efforts to achieve peace and international cooperation, and in particular for his decisive initiative to resolve the border conflict with neighbouring Eritrea.
Note: About Ethiopia
- Prime minister: Abiy Ahmed
- Capital: Addis Ababa
- Currency: Ethiopian birr
♦11th October: International Day of Girl Child 2019
- Since 2012, October 11 has been marked as International Day of the Girl and aims to highlight and address the needs and challenges girls’ face. It aims at promoting girls’ empowerment and the fulfillment of their human rights.
- Theme 2019: GirlForce: Unscripted and Unstoppable.
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