GK for Bank Exams: Weekly Digest: Oct 9 to 15

Anti Dumping duty on narrow woven fabric from China

• The Finance Ministry has imposed anti-dumping duty on narrow woven fabric (hook and loop Velcro tapes) from China.
• An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value. Dumping is a process where a company exports a product at a price lower than the price it normally charges on its own home market.

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Brazil Wins Inaugural Brics U – 17 Football Tournament

• Brazil has lifted the 1st BRICS U-17 Football Tournament 2016 held at Goa. In the Finals they defeated South Africa 5-1. 
• The BRICS U-17 Football Cup is a U-17 Football tournament to be played among teams of five BRICS countries - economic block formed by Brazil, Russia, India, China and South Africa. The 1st historic edition was played in Goa, India.

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ICICI Bank executes remittance transactions using blockchain technology

• ICICI has successfully executed transactions in international trade finance and remittance using blockchain technology in partnership with Emirates NBD.
• ICICI is the first bank in the country and among the first few globally to exchange and authenticate remittance transaction messages as well as original international trade documents related to purchase order, invoice, shipping and insurance, among others, electronically on blockchain in real time.

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Death of Thailand’s King

• King Bhumibol Adulyadej of Thailand, one of the longest-reigning monarchs in history, died at age 88.
• Bhumibol ascended to the throne 70 years ago, making him the world's longest-reigning monarch before his death.
• Also known as Rama IX -- a reference to his lineage stretching from Rama I, the founder of the Chakri dynasty -- Bhumibol commanded great love and respect within Thailand.
• Crown Prince Maha Vajiralongkorn is the king's appointed successor.