Daily GK Updates - 7th August, 2015

DAILY GK UPDATES - 7TH AUGUST, 2015

NATIONAL UPDATES:

  I.       Centre liberalizes single-brand retail norms: India might see a flurry of single-brand retailers entering, with the government allowing them to operate across multiple platforms.

II.      Ashish Dasgupta assumes charge as Air India Engineering Services’ new Executive Director.

III.    Southern States to set up Inter-State Coordination Council to resolve forest-related issues: Forest Ministers of the Southern States of India decided to set up a Southern Forest Ministers’ Inter-state Coordination Council. Kerala Forest Minister T. Radhakrishnan will be the president of the council for the 1^st year.

IV.       Delhi Government reconstituted Urdu Academy: Dr.MajidDeobandi was appointed as the Vice-chairperson of the academy.

V.         Amitava Ghosh appointed as Vice-President (Engineering) of Snapdeal: Ghosh will head company’s technology innovation centre in Bengaluru and lead the company’s future development of intuitive technology solutions.

VI.  The Charted Institute of Management Accounts, (CIMA) has conferred the prestigious award of the ‘Most Influential CFOs of India’ on Rakesh Kumar, Director-Finance, Neyveli Lignite Corporation (NLC).

VII. PM Modi inaugurated first National Handloom Day on 7^th August 2015: He inaugurated the 1^st National Handloom Day at the Centenary Hall of Madras University in Chennai, Tamil Nadu, where he also unveiled ‘India Handloom’ brand.

VIII. Snapdeal tied up­-with department store chain Shoppers Stop Ltd.

IX.   LokSabha passed Negotiable Instruments (Amendment) Bill, 2015: The bill provides for filing of Cheque bounce cases at the place where a cheque is presented for clearance and not the place of issue. It will have implications for over 18 lakh cheque bounce cases pending in various courts.

INTERNATIONAL UPDATES:

  I.         Indo-American AtulKeshap confirmed Ambassador to Sri Lanka: Indo-American AtulKeshap has been confirmed as the US Ambassador to Sri Lanka and Maldives, becoming the second Indian-Origin diplomat to be posted to the region after Richard Rahul Verma.

II.        Ukraine lifts ban on HIV positive visitors: It has removed its restriction on entry and foreign travel for HIV positive people as a part of growing efforts to improve relations with Europe after decades of Moscow rule.

III.     Egypt launches Suez Canal expansion: Egypt’s government has inaugurated an $8 bn expansion of the Suez Canal with an elaborate ceremony hailing the project as a national achievement.

IV.      India and Myanmar inked agreement to set up CESDT in Myanmar: The Centre of Excellence in Software Development and Training (CESDT) is to be set up with the financial support through ASEAN-India Cooperation Fund and will be implemented by C-DAC.

V.        48^th ASEAN Foreign Minister’s meet held in Kuala Lumpur, Malaysia: The meet was held under the theme ‘Our People, Our Community, Our Vision’ and was chaired by Minister of Foreign Affairs of Malaysia, Mr.AnifahAman.

VI.       IS seizes central Syrian town of Qaryatain.

OTHER UPDATES:

FINANCE/BANKING:

  I.    Banks can shift; merge urban, semi-urban branches without approval: RBI: Reserve Bank of India notified that banks can shift, merge or close urban and semi-urban branches without its approval. This is to allow greater operational freedom.

II.        EPFO makes stock market debut through SBI Mutual Fund: In a historic move, the Employees Provident Fund Organisation has commenced investing into Indian Stock markets, a move aimed at generating inflation-beating returns in the long term.

III.       LIC is market leader in Bahrain, No. 3 in the UAE: India’s top life insurer, LIC has emerged as the market leader in Bahrain, part of the Gulf Cooperation Council. It has also emerged as the third player in the UAE with a strong presence in cities like Dubai.

IV.       SBI Life Insurance launched Smart Humsafar Plan: It is a unique plan which offers multiple benefits of savings and insurance cover for husband and wife under a single policy.

SPORTS:

V.       August Edition of FIFA World Rankings released: Argentina maintained its No.1 position followed by Belgium at No.2 and the World Cup winner Germany at No.3 position.

OBITUARIES:

   VI.    Hollywood actor George Cole passed away.