Daily GK Update 11th May 2018

1. Nation Technology Day: 11 May

     National Technology Day is celebrated to memorize the anniversary of “Shakti: The Pokhran Nuclear Test” Which was held in 11^th of May 1998

2. RBI puts Dena Bank under Corrective Action:

The public sector lender DENA BANK on 11^th of May 2018 reported the widening of its net loss to Rs. 1,225.42 crore in the March quarter report. The net loss stood at Rs 575.26 crore in the January-March quarter of 2016-17.

3. China’s Alibaba buys Pakistani E-commerce Daraz:

Chinese E-commerce firm Alibaba has purchase Pakistani E-commerce firm Daraz to continue to expand its overseas presence in South Asian Consumer market.

4. DFS to approach revenue dept over GST:

Department of Financial Services (DFS) has decided to approach the revenue department to clarify the confusion on levy of GST on some free services provided by Banks. Financial Services Secretary Rajiv Kumar said “The issue of imposition of GST on some free services that banks provide to its customers will be taken up with the revenue department and we hope to resolve the issue soon.”

5. Bank Unions on 48-hour strike from May 30:

The association of banking union has threatened to go on 48=hours strike from 30^th of May to 31^st of May over the issue of Indian Bank’s Association’s measly wage hike offer and delay in wage negotiation.

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