latest current Affairs for SSC & Bank Exams

Indigenously built INS Tarmugli commissioned in Indian Navy
The Indian Navy has commissioned indigenously built highly maneuverable Fast Attack Craft INS Tarmugli at the commissioning ceremony held in Visakhapatnam, Andhra Pradesh. INS Tarmugli will be based in Visakhapatnam under the Naval Officer-in-Charge (Andhra Pradesh). It would be deployed for coastal patrol and surveillance operations along the East Coast of India.

Odisha Governor promulgates ordinance for official use of Odia
Odisha Governor Dr SC Jamir has promulgated Odisha Official Language (Amendment) Ordinance, 2016 to ensure use of Odia in all government systems. The ordinance was promulgated as per provisions of the Article 213 of the Constitution. It empowers the state government to formulate laws to implement Odisha Official Language Act, 1954. It will amend the Language Act and use Odia in the official businesses of the Government including in writing files, letters and all other official documents.

Delhi-based NGO Routes 2 Roots awarded Inter-cultural Innovation Award 2016
Routes 2 Roots, a Delhi-based Non-profit organization (NGO), has been awarded prestigious Inter-cultural Innovation Award 2016. The award was bestowed upon the NGO for their unique Student Exchange Program, which allowed children in schools from India and Pakistan to connect with each other. The award was given by United Nations Alliance of Civilizations (UNAOC) in Baku, Azerbaijan.

Sarbananda Sonowal sworn-in as Assam Chief Minister
BJP leader and former Union Minister Sarbananda Sonowal (54) was sworn-in as the 14th Chief Minister of Assam after winning 2016 state assembly election with absolute majority. State Governor Padmanabha Balakrishna Acharya administered the oath of office and secrecy to Sarbananda Sonowal at the oath taking ceremony held in Khanapara, Guwahati. Besides, Governor also administered oath of office and secrecy to the 10 ministers of his government. With this, maiden BJP government assumed power in the North Eastern state for first time in the political history of independent India. Sarbananda Sonowal also became second tribal chief minister of Assam after Jogen Hazarika who was in the office 1970s.

Union Government shortlist 13 Cities for Smart Cities Mission in 2nd batch
The Union Ministry of Urban Development has shortlisted 13 cities from 13 States/UTs in the list of second batch of Smart Cities Mission. These cities were shortlisted based on scores obtained in Fast Track competition conducted for 23 cities from as many States and Union Territories. This competition list was topped by Lucknow in Uttar Prades and was followed by Warangal in Telangana and Dharmashala in Himachal Pradesh. In the Fast Track competition, 23 cities had participated from which these 13 were selected. These 23 cities were having the highest ranking and had failed to get representation in the first round of competition held in January 2016.

S K Sharma appointed CMD of Nuclear Power Corporation of India
Renowned scientist S K Sharma was appointed the Chairman and Managing Director (CMD) of Nuclear Power Corporation of India Limited (NPCIL). In his new role, Mr Sharm will be responsible for design, construction, commissioning and operation of nuclear power reactors. He has been appointed to the new post for a period of five years. At present,he is working as Distinguished Scientist and Director (Operations) in NPCIL.

Mohun Bagan wins 2016 Indian Federation Cup football tournament
Mohun Bagan FC has won the 2016 Indian Federation Cup football tournament title for the 14th time. They have won the tournament after a gap of 8 years and last was won in 2008. In the final match played at the Indira Gandhi Athletic Stadium in Guwahati (Assam), they defeated Aizawl FC by 5-0 goals. For Mohun Bagan FC the Jeje Lalpekhlua scored two goals while Haitian Sony Norde, Dhanachandra Singh and Bikramjit Singh scored one each. Aizawl FC for the first time had played in the final match. They had defeated I-League champions Bengaluru FC in the quarterfinals before getting the better of Sporting Clube de Goa to book a place in the Final for the first time.

CURRENT AFFAIRS:-

1. The 18th SAARC Summit commenced here Wednesday morning. Apart from host Nepal, all seven heads of state and government are in Kathmandu to attend the summit.
2. MGNREGS has come to halt in Odisha due to paucity of funds, Chief Minister Naveen Patnaik today asked the centre to immediately release Rs 1195.40 crore to the state, to resume it.
3. President Pranab Mukherjee today urged the private sector to work for enhancing quality of higher technical education in the country in view of changing global situation.
4. Tennis players Maria Sharapova and Ana Ivanovicwill start the new season at the Brisbane International here, the only premier-level event in the opening week of 2015, organisers confirmed Wednesday.
5. The US space agency NASA is planning to kickstart a challenge for developing airships that can break records in terms of duration of flight at high altitudes.
6. Micro-blogging site Twitter has launched a new feature where retailers will tweet special offers that can be used to get money back on certain purchases.
7. Prime Minister Narendra Modi led the nation in paying homage to the martyrs and victims of the 26/11 Mumbai terror attacks sixth anniversary on Wednesday.
8. The Senate Foreign Relations committee has scheduled the confirmation hearing of Indian-American Richard Rahul Verma, President Barack Obama’s nominee to be US Ambassador to India, on December 02.
9. The 3D printer at the International Space Station (ISS) has created the first printed object in space – a part of the printer itself – paving the way to future long-term space expeditions.
10. Over 7,000 sq km of the seafloor has been scoured so far but no debris of the missing Malaysia Airlines Flight MH370 has been found, the chief coordinator of the Joint Agency Coordination Center (JACC) for the search of the missing airliner said Wednesday.                                                                                                                                                         
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                                      IMPORTANT BANKING RELATED TERMS

v  Exchange Rate: Rate at which the domestic currency can be converted into foreign currency and vice versa.

v  Cheque: Cheque is a negotiable instrument containing conditional order to pay sum of money to the person mentioned on it or to the bearer of the instrument.

v  Crossing: Two parallel lines drawn on the top left corner of the cheque

v  Account Payee Cheque: Account payee cheque can be routed only through accounts

v  Post dated Cheque: The date on the check beyond today’s date then cheque becomes post dated.

v  Stale Cheque: A cheque which has completed the stipulated validity period of the cheque is called as the stale cheque (The validity period of 6 months as at present)

v  Mutilated cheque: It is a damaged cheque

v  Bounced Cheque: It is nothing but an ordinary bank check that any bank can refuse to encash or pay because of the fact that there is no sufficient balance in the bank account of the originator

v  At Par cheque: It is payable anywhere in India

v  Multi city cheque: A cheque which is payable in any branch of a particular bank

v  Travellers Cheque: Cheques issued by a bank and function as cash but are protected against loss or theft when travelling.

v  Money Laundering: Conversion of money which is illegally obtained

v  Linked Account: Any account linked to another account in the same bank where funds can be transferred electronically between accounts and carry out other specified services as well

v  Consumer durables loans: Loan granted by banks for purchasing of whitegoods

v  Collateral: A borrower needs to provide some kind of security to the bank in case of high ticket loans, such security is called ‘collateral’

v  Floating Rate:An interest rate that is referenced to a market rate and is revised as per the change in the interest rates in the economy. When interest rates in the economy rise, floating rates rise and vice versa.

v  Inflation: Decreasing the value of money in this statemoney looses the value hence prices will go up.

                                                                                        

                                                    

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