Current Affairs 01 September 2018

1. Prime Minister Launches India Post Payments Bank:-

  • Prime Minister Narendra Modi launched a payments bank of the Department of Posts that will take banking to the doorstep of every citizen through an unmatched network of post offices and almost 3 lakh postmen and ‘Grameen Dak Sewaks’.
  • The India Post Payments Bank (IPPB) will be like any other banks but its operations will be on a smaller scale without involving any credit risk. It will carry out most banking operations like accepting deposits but won’t advance loans or issue credit cards.
  • The payments bank will accept deposits of up to Rs 1 lakh, offer remittance services, mobile payments/transfers/purchases and other banking services like ATM/debit cards, net banking, and third-party fund transfers. The IPPB would be available through 650 branches and 3,250 access points. 

2. Binoy Kumar Assumes Charge of Secretary in Steel Ministry:-

  • Binoy Kumar has taken over as Secretary, Ministry of Steel, Government of India. He had been posted as Officer on Special Duty in the Ministry. 
  • Prior to this, Binoy Kumar held the post of Special Secretary, Logistics, in the Department of Commerce. 

3. Justice Ranjan Gogoi to take charge as Chief Justice of India on October 3:-

  • Current Chief Justice of India Deepak Misra will retire on 2nd October 2018. As per convention, the senior-most judge is eligible to be the Chief Justice of India. 
  • Ranjan Gogoi is expected to retire on November 17 as the Supreme Court judge. He has served as a judge in Gauhati High Court and Chief Justice of Punjab and Haryana High Court.

4. Amit Panghal Wins Gold In Boxing:-

  • India's 22-year-old boxer champion Hasanboy Amit Panghal defeated 2016 Olympic Dusmatov (Uzbekistan) in the men's 49kg final to bag gold at the Asian Games 2018.
  • Amit was the only Indian boxer who made it to a final at the quadrennial event.

5Jain monk Tarun Sagar passes away at 51:-

  • Tarun Sagar was 51 years old. He was born on 26th June 1967 in Damoh district of Madhya Pradesh. His original name was Pawan Kumar Jain.
  • His lectures called “Kadve Pravachan” were very popular and he was followed by many people from the Jain community.

6. AYUSH Minister Inaugurates 4th International Ayurveda Congress at the Netherlands:-

  • Minister of State for AYUSH Shripad Yesso Naik inaugurated the Fourth International Ayurveda Congress (IAvC) at the Netherlands. 
  • The congress would focus on promotion and propagation of Ayurveda in the Netherlands and its neighboring countries of Europe. A special Seminar is also organized by the Indian Embassy titled India-Netherlands collaboration in Healthcare, including Ayurveda”. 

7. AYUSH Minister Inaugurates 4th International Ayurveda Congress at the Netherlands:-SBI Hikes Benchmark Lending Rate By 0.2%:-

  • Home, auto, and other loans
  • would become costlier as the country’s largest lender, State Bank of India, has increased its benchmark lending rate or MCLR by 0.2%, a development followed by other lenders. The new rates are effective with immediate effect.
  • SBI has increased the lending rate by 20 basis points across all tenors up to three years. Now SBI’s overnight and one-month tenor marginal cost of funds based lending rate (MCLR) stands at 8.1% as against 7.9%.

8. GDP Growth Soars To 8.2% In 1st Quarter Of Current Fiscal:-

  • The Indian economy grew by 8.2% in the first quarter (April-June) of the current fiscal, the highest in over two years. This announcement was made by Finance Minister, Arun Jaitley. The manufacturing sector grew by 13.5% which signals a very good turnaround in the sector. 
  • In a related development Reserve Bank of India stated Non-food credit growth in the system accelerated to 10.6% for July as compared to previous year, driven by loans to the services sector growing at the faster clip.
  • Credit to the services sector grew 23% for the reporting period, up from the year-ago period's 4.9%. 

9.  Pranab, Shibnath Wins India's 1st Ever Bridge Gold:-

  • India's 60-year-old Pranab Bardhan and 56-year-old Shibnath Sarkar won the men's pair bridge event to bag the country's first-ever gold in the bridge at the Asian Games. 
  • The card game has been featured as a sport at the Asian Games for the first time, in the 2018 edition.  China won silver in this event.

10. India & Pakistan agree to undertake Indus water treaty tours to work on hydro projects:-

  • On September 1, 2018, India and Pakistan agreed to undertake the Indus Waters Treaty tours in the Indus basin on both sides.
  • This agreement came after the two-day high-level bilateral talks on the Indus Waters Treaty in Lahore on August 18, 2018.

Current Affairs Month