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Daily GK Current Affairs viable of 4th and 5th July 2021

Daily GK Current Affairs News viable of 4th and 5th July 2021.Here is the Regular current affairs viable of 4th and 5th July 2021. covering the following news headlines: Lokayukta, Sirisha Bandla, Austrian Grand Prix, Mithali Raj, Karsten Warholm, Indian Space Research Organisation, Investment Promotion Agency 2021 award. 

Daily Current Affairs update are incorporated with the important news that made the current affairs headlines for competitive exams. Daily Current Affairs Update is the complete box of the important news that held all day long. One should have complete knowledge about banking terms, current affairs news, etc.

So, here is the GK update of 4th and 5th July 2021 to help you prepare the Current affairs part. After reading this section, you can successfully attempt current affairs quiz.

Here current affairs have been categorized which is as follows:

  • Banking News
  • Defence News
  • Sports News
  • Awards News
  • Miscellaneous News

Banking News

  1. RBI imposes Rs 25 lakh penalty on Punjab & Sind Bank
  • The Reserve Bank of India imposed a penalty of Rs 25 lakh on Punjab and Sind Bank for non-compliance of certain provisions of the Directions on ‘Cyber ​​Security Framework in Banks’.
  • The state-owned bank had reported a few cyber incidents to the RBI on May 16 and 20, 2020, the central bank said while giving details. Accordingly, the central bank had issued a show-cause notice to the bank asking it why a penalty should not be imposed for non-compliance with the directions issued by RBI.
  • This penalty has been imposed in the exercise of powers vested in RBI under the provisions of section 47 A (1) (c) read with sections 46 (4) (i) and 51 (1) of the Banking Regulation Act, 1949.

Important takeaways for all competitive exams:

  • Punjab and Sind Bank Founder: Vir Singh;
  • Punjab and Sind Bank Founded: 24 June 1908;
  • MD & CEO of  Punjab and Sind Bank: S Krishnan.
  1. Axis Bank tie-up with AWS for powering digital banking services
  • Axis Bank has entered into a multi-year agreement with Amazon Web Services (AWS) to power the digital transformation program of the country’s third largest private sector bank.
  • As part of the agreement, Axis Bank with help of AWS will build a portfolio of new digital financial services to bring advanced banking experiences to customers, including online accounts that can be opened in 6 min & instant digital payment.
  • This will help the bank increase customer satisfaction by 35 per cent and lower costs by 24 per cent.
  • To date, Axis Bank has deployed over 25 mission-critical applications on AWS, including a Buy Now Pay Later product and a new loan management system to support it, Account Aggregator, Video-Know Your Customer (V-KYC), and WhatsApp Banking.

Important takeaways for all competitive exams:

  • Axis Bank Headquarters: Mumbai;
  • Axis Bank Founded: 1993;
  • Axis Bank MD and CEO of Axis Bank: Amitabh Chaudhry.

Defence News

  1. Indian Army chief to inaugurate war memorial for Indian soldiers in Italy

Sports News

  1. Invest India won the most innovative Investment Promotion Agency 2021 award
  • Invest India has been awarded the World’s Most Innovative Investment Promotion Agency 2021 by OCO Global. OCO Global is a leading authority on foreign investment and provides a range of economic development services, products and unique company valuation tools.
  • Invest India, set up in 2009, is a non-profit venture under the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, Government of India.

Awards News

  1. Mithali Raj surpasses Edwards to become highest run-getter
  • India captain Mithali Raj has overtaken former England captain Charlotte Edwards to become the highest run-scorer in women’s cricket across all formats. Mithali became the world’s most prolific batsman at women’s international level, surpassing Edwards’ 10,273 runs.
  • New Zealand’s Suzy Bates is at number three with 7849 runs. Stephanie Taylor (7832) and Meg Lanning (7024) are in the top five.
  • Mithali achieved the feat during the third and final ODI against hosts England, chasing 220 for a consolation win.
  • In 2020, Raj was named to the ICC’s ODI team of the decade, a fitting honour for her consistency in the sport. She is also the most capped player in the history of the women’s game, having featured in 11 Tests, 216 ODIs and 89 Twenty20 Internationals so far.
  1. Max Verstappen wins Formula 1’s Austrian Grand Prix 2021
  • Red Bull’s Max Verstappen won the Austrian Grand Prix, the ninth race of the 2021 Formula 1 World Championship season, at the Red Bull Ring.
  • Verstappen won the race ahead of Mercedes-AMG’s Valtteri Bottas and McLaren’s Lando Norris.
  • Lewis Hamilton – Bottas’ teammate and Verstappen’s challenger to the 2021 Drivers’ Championship – came home in fourth place.
  1. Norway’s Karsten Warholm breaks men’s 400 metres hurdles world record
  • Norwegian athlete Karsten Warholm, 25, broke a long-held world record in the 400m hurdles during the Bislett Games. Earlier this record was held by American hurdler Kevin Young for 29 years.
  • His mark of 46.78 seconds was set at the 1992 Olympics in Barcelona, ​​Spain, which was eventually broken by Warholm with an official time of 46.70 seconds.

Miscellaneous News

  1. GoI extends superannuation age of LIC chairman to up to 62 years
  • The government has increased the retirement age of IPO bound LIC Chairman MR Kumar to 62 years by amending the Life Insurance Corporation of India (Staff) Regulations, 1960.
  • According to a government notification dated June 30, 2021, the changes made in the rules will be called the Life Insurance Corporation of India (Employees) Amendment Rules, 2021. It should be noted that the retirement age for top executives in majority of public sector undertakings is 60 years, with few exceptions, including State Bank of India (SBI).

Important takeaways for all competitive exams:

  • LIC Headquarters: Mumbai;
  • LIC Founded: 1 September 1956.

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