GK for Bank Exams: Weekly Digest: 4 to 10 September 2016

G20 summit- Hangzhou (China)

Why is G20 in the News?

• Hangzhou (China) summit on 4^th and 5^th Sep 2016, Chaired by Xi Jinping (Who is he? President of China)

What is G20 or Group of Twenty?

• It is an international forum for the governments and central bank governors from 20 major economies. It was founded in 1999.

Why did they found G20?

• G 20 founded for studying, reviewing, and promoting high-level discussion of policy issues pertaining to the promotion of international financial stability. (Here is the catch, this is why it is important for banking exams)
• The members include 19 individual countries along with the European Union

Where G20 leaders going for group tour next time?

• 2017 G20 summit is in Hamburg, Germany

That is enough; banks won’t expect you to mug up the member nations. Still, if you want here it is:

Panel on changing Indian Financial Year

Sri Arun Jaitley, union Finance minister told in some press conference something on this. It came in news.

• Present Financial Year structure in India: 1^st April to 31^st March
• Proposed structure: Panel yet to report
• Who is heading the Panel? Former Chief Economic Advisor Shankar, Acharya
• Why the changes? The different financial year periods in the different part of the world and international agencies is making data comparison difficult.

 Kaveri River water dispute

It is news due to the Supreme Court direction to Karnataka to release water to Tamil Nadu and ongoing unrest in Southern Karnataka.

• The dispute is mainly between Karnataka and Tamil Nadu.
• Is there a tribunal? Yes, Apart from Karnataka and Tamil Nadu, Puducherry and Kerala are also having the interest in the Kaveri River water.

 Sauni Yojana

Saurashtra Narmada Avtaran Irrigation Yojana (Sauni Yojana)

PM Narendra Modi inaugurated SAUNI Yojana in Rajkot.

This plan is to divert the over flowing flood water of Narmada to Saurashtra Region distributing to 115 reservoirs of eleven districts of Saurashtra

(Saurashtra - Arabian Sea coast of Gujarat state consisting of 11 districts including Rajkot District)

ASEAN

Why is it in the news?

Obama, Modi and other world leaders went to Laos for ASEAN tour after finishing their G20 – Group tour in Hangzhou, China

• Full Form: Association of Southeast Asian Nations
• Founder members:  Indonesia, Malaysia, the Philippines, Singapore, and Thailand
• Membership expanded to include Brunei, Cambodia, Laos, Myanmar (Burma), and Vietnam
• India is not a member of ASEAN
• Secretariat of ASEAN at Jakarta, Indonesia 

Assam's Majuli

It is the largest river island in the world, now declared as a district by Assam Cabinet. Majuli became the first island district of India.

Next big news in GST bill became Law. After ratification by the required states(50%), the President signed the bill to make it law. Let us have important points on GST in banking examination view separately.

If you find any important news of this week is omitted, kindly comment below.