Current Affairs Update – 12 November, 2017 - Exam Pundit - IBPS PO | Clerk | SBI PO | Insurance Exams | SSC Exams | Current Affairs


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Sunday, November 12, 2017

Current Affairs Update – 12 November, 2017

Hello and welcome to exampundit. Here are the Important Current Affairs of 12 November, 2017. These are important for the upcoming IBPS PO, Clerk Mains, NICL Assistant, OICL AO exams.

Banking & Financial News

Karnataka inks pacts with Chinese firms

  • Karnataka Chief Minister Siddaramaiah inaugurated the sixth China-India Forum meet being jointly hosted by the Government of China, Chinese People’s Association for Friendship with Foreign Countries (CPAFFC), China-India Friendship Association (CIFA), and Podar Enterprise here on Friday.
  • Karnataka Minister for Large and Medium Industries RV Deshpande said Karnataka expected trade and investments between India and China to increase as India sees big opportunities to attract Chinese companies to Make in India, besides attracting investments.
  • The following MoUs were signed at the Forum: Semiconductor Alliance of China and Beijing Construction & Highway Development Group presented EoI letters to the Karnataka government.
  • Podar Enterprise signed strategic cooperation MoU with Hebei Provincial Government. Podar Advisory and Consulting Enterprise signed tri-party MoU of cooperation with Baoding City Government and Hebei Information Investment Group.
  • Fortune Plus, China, signed MoU for setting up electric vehicle hub with Imperator Autocorp Pvt Ltd. Podar Holding International Pte Ltd signed MoU for cooperation in education with Yigcal University, Shandong.


Air India gets Rs. 1,500 cr loan from Bank of India

  • Debt-laden Air India has received a loan worth of Rs. 1,500 crore from Bank of India to meet urgent working capital needs less than a month after floating a tender in this regard, an airline source said.
  • For the second time in recent months, the flagship carrier has received loans from a public sector lender.
  • Battling multiple headwinds, the disinvestment-bound airline has been working on ways to reduce its debt, including by way of selling non-core assets and expanding operations.
  • The source said the airline has received Rs. 1,500 crore loan from Bank of India after the tender for the amount was floated last month in order to meet “urgent” working capital needs.
  • A tender was issued by the carrier on October 18 in which it had sought government guarantee-backed short-term loans totalling up to Rs. 1,500 crore to meet “its urgent working capital requirements”.
  • Prior to that, the airline had borrowed around Rs. 3,250 crore as short tenure loans from two lenders -- IndusInd Bank and Punjab National Bank, sources had said. This loan too was for meeting urgent working capital needs and the tender was floated in September.

PNB MetLife in distribution pact with Bank of Bahrain and Kuwait

  • Life insurer PNB MetLife has signed a corporate agency agreement with Bank of Bahrain and Kuwait B.S.C (BBK).
  • This tie-up will help PNB MetLife distribute its retail and group products to BBK’s customers in India.
  • With this partnership, BBK customers in India will get access to PNB MetLife’s entire portfolio of products ranging from health, savings, and wealth to rural plans.
  • As on date, BBK, which is one of the largest commercial banks in Bahrain, has branches at Mumbai, Hyderabad, Aluva and New Delhi.
  • The bancassurance tie-up forms an important part of PNB MetLife’s growth strategy and the life insurer has already forged many such alliances including PNB, Karnataka Bank and Jammu & Kashmir Bank.
  • Bancassurance is an arrangement by which a bank and an insurance company partner to enable the insurer sell its products to the bank’s client base.

Mumbai to host Asian Bankers Association summit

  • For the first time, the nation’s financial capital will host the 34th annual conference of the Asian Bankers Association (ABA) this week.
  • The two-day conference will be held in the megapolis from November 16 and will be hosted by State Bank, with the theme of ‘Asia’s turn to transform’, SBI said.
  • The event is expected to see the presence of over 160 domestic as well as international bankers and Reserve Bank deputy governor Viral V Acharya will deliver the special opening address on the second day, a SBI spokesperson told PTI.
  • Founded in 1981, the ABA serves as a forum for advancing the cause of the banking industry and promote regional economic cooperation across the continent.
  • With around 80 members from 25 countries, the association holds conferences on issues of concern to the banking sector, policy advocacy discussions, and training programmes.
  • The this year’s summit will discuss the impact of the ongoing global downturn on the outlook of the Asian economies; economic consequences of the Brexit in March 2019 on Asia, the America-first policy of the Trump administration; implications of fintech on banks, among others.


Debjani Ghosh appointed First Woman NASSCOM President

  • The National Association of Software and Service Companies (NASSCOM) on Friday announced the appointment of Debjani Ghosh, former MD, Intel South Asia, as the NASSCOM President-Designate, succeeding R Chandrashekhar, President, NASSCOM upon the completion of his term in March 2018.
  • Ghosh has held other posts at Nasscom in the past. She has been a member of company’s executive council and a trustee of Nasscom Foundation. To find the next President, the Nasscom President Succession Committee was set up by its chairman in March 2017, a Nasscom release said.


Former France Culture Minister Audrey Azoulay appointed new UNESCO chie

  • Member States of the United Nations Educational, Scientific and Cultural Organization (UNESCO) on Friday appointed Audrey Azoulay, a former culture minister of France, to the top post of the agency.
  • Born in 1972, Ms. Azoulay was France’s Minister of Culture and Communication from February 2016 to May 2017.
  • She has occupied senior positions in France’s public broadcasting sector and then served as rapporteur to France’s public auditing authority, the Cour des comptes, and as a European Commission legislative expert on issues of culture and the media.
  • Ms. Azoulay served France’s National Cinema Centre (CNC), first as Deputy Audiovisual Director, then as Director of Financial and Legal Affairs, and finally as Deputy Director-General.

Former India goalkeeper Bhaskar Ganguly appointed AIFF ombudsman

  • The Supreme Court on Saturday appointed former India goalkeeper Bhaskar Ganguly to the two-member committee which will oversee the working of the All India Football Federation (AIFF) following the removal of its erstwhile President Praful Patel.
  • Ganguly, who served as captain of the Indian team at the 1982 Asian Games, will serve as ombudsman along with former Chief Election Commissioner S.Y. Quraishi.
  • They have been tasked with formulating the AIFF constitution within eight weeks.
  • The apex court also stayed the recent order of the Delhi High Court against top ranked AIFF officials and allowed all elected committees of the federation to function on a regular basis.
  • The Delhi High Court had on October 31 set aside the election of Praful Patel as AIFF President on the grounds that it was conducted without following the National Sports Code and asked for fresh polls within five months.
  • The High Court had also appointed S.Y. Quraishi as the AIFF administrator. The order came two days after India successfully hosted the FIFA U-17 World Cup for the first time. Patel had said during the tournament that India was also looking to host the FIFA U-20 World Cup.

Awards & Honors

Dipa Karmakar honoured with D.Litt. by NIT Agartala

  • India's star gymnast Dipa Karmakar has been conferred a D.Litt. degree from the National Institute of Technology (NIT) Agartala.
  • Expressing happiness on being honoured with the degree, Karmakar said she wanted to achieve such a degree once and that it would further add to her responsibility towards the people of the country.
  • The 24-year-old Tripura girl is the first Indian woman gymnast to have qualified for the Olympics. She finished fourth in the final round of the women's vault event at the Rio Olympics Games in Brazil last year.
  • The director of NIT, Agartala, Professor Ajoy Kumar Ray, handed over the degree to Karmakar, during the 10th convocation programme at the Rabindra Satabarshiki Bhavan here.

World News

ASEAN inks free trade, investment pacts with Hong Kong in Manila

  • Hong Kong on Sunday signed free trade and investment pacts with the ten-nation Association of Southeast Asian Nations, in what one of the Chinese territory's senior officials called a "loud and clear" vote against rising regional trade protectionism.
  • The pacts conclude nearly three years of talks, are expected to take effect on January 1 at the earliest, and aim to bring "deeper and bolder" integration of market access with the bloc, said Edward Yau, Hong Kong's commerce and development secretary.
  • Total merchandise trade between Hong Kong and ASEAN was HK$833 billion ($107 billion) last year, official figures show. Total services trade was HK$121 billion ($16 billion) in 2015.
  • The ASEAN Hong Kong China Free Trade Agreement (AHKCFTA) was signed on the sidelines of a summit of the regional grouping in the Philippine capital of Manila.



Team ExamPundit

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