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Today GK Updates : 8th May Daily Current Affairs

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Today GK Updates : 8th May Daily Current Affairs

1. Government begins evacuation exercise ‘Vande Bharat Mission’

– In one of the largest evacuation exercises named the Vande Bharat Mission, the government will operate 64 flights till May 13 to bring home nearly 14,800 Indian nationals stranded abroad due to the coronavirus lockdown.

– The preparations for the operation have commenced and also urged the stranded individuals to stay in touch with the Indian embassies in their countries.

– The 64 flights will include 10 flights from the UAE, 2 from Qatar, 5 from Saudi Arabia, 7 from the UK, 5 from Singapore, 7 from the United States, 5 from the Philippines, 7 from Bangladesh, 2 from Bahrain, 7 from Malaysia, 5 from Kuwait and 2 flights from Oman.


2. Public Sector Banks sanction loans worth Rs 5.66 lakh cr for more than 4181000 accounts during March-April

– Public Sector Banks have sanctioned loans worth 5.66 lakh crore rupees for more than 41 lakh 81 thousand accounts during March-April this year.

– In a series of tweets, Office of Finance Minister Nirmala Sitharaman said, these borrowers are from MSME, Retail, Agriculture and Corporate sectors, waiting for disbursal soon after lockdown lifts. For MSMEs and others, pre-approved Emergency credit lines and working capital enhancements are being prioritised by Public Sector Banks.

– More than 27 lakh customers have contacted from March 20 and 2.37 lakh cases have been sanctioned loans worth 26,500 crore rupees.

– Public Sector Banks complemented RBI on loan moratorium. Their effective communication and proactive actions ensured that over 3.2 crore accounts availed three-month moratorium. Quick query redressals allayed customer concerns and ensured responsible banking amid lockdown.


3. Rabindranath Tagore’s 159th birth anniversary

– Every year May 7 is celebrated as Rabindranath Tagore Jayanti.

– He started writing poetry at the age of 8 and published his first collection at the age of 16.

– His compositions were chosen by two nations as national anthems: India’s Jana Gana Mana and Bangladesh’s Amar Shonar Bangla.

– The Sri Lankan national anthem was inspired by his work.

– He became in 1913 the first non-European to win the Nobel Prize in Literature.


4. SBI cuts benchmark lending rate by 15 basis points

– The country’s largest lender, State Bank of India today slashed benchmark lending rate by 15 basis points and introduced Special Deposit Scheme for senior citizens with higher interest rate.

– With that, the marginal cost of funds based lending rate comes down to 7.25 per cent, from 7.40 per cent with effect from 10th of May. But, to safeguard the interests of senior citizens, the bank has introduced a new product ‘SBI Wecare Deposit’ in the retail term deposit segment.

– Under this new product, an additional 30 basis points premium will be payable for senior citizen’s retail term deposits with Five Years and above tenure only.


5. Iraqi Parliament confirms Mustafa Al Kadhimi as new Prime Minister

– Former intelligence chief Mustafa al-Kadhimi has been approved as Iraq’s new prime minister.

– Former PM Adil-Abdul Mahdi resigned in late November following widespread anti-government protests that spread across Iraq’s central and southern provinces.

– The Iraqi parliament approved Kadhimi’s government at an emergency session. Serving as the head of Iraq’s National Intelligence Service (NIS) from 2016, Kadhimi had revised his proposed cabinet several times in recent weeks to appeal to various political factions in Baghdad.