November 5, 2018

CLICK HERE TO ATTEMPT DAILY QUIZ FOR FREE

NATIONAL NEWS

 

  1. Indian Coast Guard has launched a new offshore patrol vessel named ICGS Varahafrom a corporate shipyard near Chennai, Tamil Nadu.
    • ICGS Varaha has been designed and built indigenously.

 

  1. The country’s first asymmetrical cable-stayed bridge – Signature Bridge has been inaugurated in Delhi which will connect Wazirabad to East Delhi.
    • The pylon of the Signature bridge is tallest structure in Delhi and is double the height of Qutb Minar.

 

INTERNATIONAL NEWS

 

  1. Singapore has maintained its rank as number one Asian city in the Sustainability Index by engineering firm Arcadis.
    • The Sustainability Index assessed cities based on 3 pillars: profit pillar, people pillar and planet pillar.
  1. India has ranked 12th in the world in terms of web-borne threats, according to a recent report by Global Cybersecurity Company, Kaspersky Lab.
    • In the 3rd quarter (July- September), 32.8% of users were attacked by web-borne threats in India.
  1. South Korea’s First Lady Kim Jung-Sook arrived in Delhi to attend the ceremony of a park in Ayodhya dedicated to Indian-born Korean Queen Heo Hwang-ok.
    • Queen Heo, originally named Princess Suriratna, is believed to have travelled to the Korean city of Gimhae from Ayodhya in AD 42 as a 16 year old.
    • The park with a monument was first built in 2000, but is being enlarged with the help of a grant of land from the Uttar Pradesh government.
  1. China backed Pakistan for trying to resolve “outstanding issues” with India through dialogue and appeared to support Islamabad on two other key topics — the expansion of the Nuclear Suppliers Group (NSG) and Counterterrorism.

 

 

BANKING AND ECONOMY

 

  1. RBI allowed banks to support bonds sold by Non-Banking Finance/Housing Companies.
    • According to the permit, it allowed banks to provide Partial Credit Enhancement (PCE) to bonds issued by the Systemically Important Non-Deposit taking Non-Banking Financial Companies (NBFC-ND-SIs) registered with the Reserve Bank of India and Housing Finance Companies (HFCs) registered with National Housing Bank.
    • This shall be done by maintaining the exposure limit of the bank within the aggregate PCE exposure limit of 20 percent.
    • Additionally, the exposure of a bank should be restricted to 1 percent of its capital funds or net worth for a single borrower.
  1. HSBC India and ING Bank Brussels have successfully executed a blockchain- enabled Letter of Credit (LC) transaction between Reliance Industries (RIL) and Tricon Energy.
    • This is an industry-first, as the blockchain platform integrates with Bolero’s Electronic Bill of Lading (eBL) platform to issue and manage an eBL.
    • This allowed a digital transfer of the title of goods from the seller to the buyer in the underlying trade and enabled the underlying trade to be fully digitised.
    • The Letter of Credit (LC) was issued by ING Bank for Tricon Energy USA (importer) with HSBC India as the advising and negotiating bank for RIL, India (exporter).
    • The end-to-end transaction was executed on R3’s Corda blockchain platform which is a single shared application, rather than requiring multiple isolated digital systems across various counterparties, located around the globe, said a statement.
    • The use of blockchain offers significant potential to reduce the timelines involved in exchange of export documentation from the extant 7 to 10 days to less than a day.

 

  1. The Reserve Bank has initiated steps to set up a wide-based digital Public Credit Registry (PCR) to capture details of all borrowers, including wilful defaulters and also the pending legal suits in order to check financial delinquencies.
    • The PCR will also include data from entities like market regulator SEBI, the Corporate Affairs Ministry and the Insolvency and Bankruptcy Board of India to enable banks and financial institutions to get a 360-degree profile of existing and prospective borrowers on a real-time basis.

 

 

SPORTS

  1. Simone Biles became the first ever gymnast to win 13 world championship gold medals, by winning her 13th gold medal at the World Gymnastics Championships in Doha, Qatar.
    • Simone Biles has surpassed the previous all-time record of 12 world championship gold medals by Belarusian Vitaly Scherbo, made in 1996.
  1. Russia’s Karen Khachanov defeated incoming world number one Novak Djokovic to win his first Masters 1000 title at the Paris Masters.

 

 

STATIC FOR THE DAY

Bhungroo – A Water Harvesting System

Periyar Tiger Reserve – Kerala