Daily GK Updates - 28th October, 2015

NATIONAL UPDATES:

   I.        Government sets up Justice R V Easwar Panel to simplify Income Tax Laws: The Government set up a high level committee under a former Delhi High Court judge to suggest simplification of Income Tax laws, a report that could form basis for tinkering with the controversial retrospective applicability of tax.

II.    Sajjan Singh Yadav has been appointed Delhi’s VAT Commissioner by Lt.Governor Najeeb Jung.

III.     Union Finance Ministry launched E-Sahyog Pilot Project to facilitate Taxpayers: It launched the e-Sahyog pilot project of the Income-Tax Department to facilitate taxpayers by reducing their need to physically appear before tax authorities. The project is aimed at reducing compliance cost, especially for small taxpayers.

IV.  ABIL, Versace to develop new project in South Mumbai: Pune based realty developer ABIL (AvinashBhosale Group) is partnering with Versace to develop a new exclusive residential project in Hughes Road, South Mumbai.

V.       Government of Andhra Pradesh declared 196 mandals as drought-hit: With this, Andhra Pradesh became third state to declare drought in the country as Karnataka and Maharashtra earlier made the announcement in this regard.

VI.   Bengaluru based Saankhya Labs developed ‘Pruthvi’ chip to power White-Fi devices: The Pruthvi-based White-Fi devices will be used by Microsoft to extend the reach of internet services in remote areas of the country.

VII. NITI Aayog panel on Innovation submitted its report recommending private funding for R&D: The panel headed by Prof. TarunKhanna submitted its report recommending that the private sector should help fund research and development, including in research labs at universities and startups.

VIII. Sub Group of Chief Ministers on Centrally Sponsored Schemes submitted its report to the NITI Aayog Chairperson and PM NarendraModi.

INTERNATIONAL UPDATES:

  I.     India overtakes China, becomes biggest gold consumer: India regained its top position from China as the biggest overall consumer of gold in the first nine months this year with a total consumption of 642 tonnes, a survey said.

II.       Tata Trusts, Harvard University announce collaboration: Tata Trusts and Harvard University South Asia Institute (SAI) announced collaboration on knowledge creation and capacity building for social and economic empowerment in India.

III.     4^th Edition of the India-Sri Lanka bilateral naval exercise SLINEX 15 begins in Sri Lanka: The six day exercise seeks to reinforce the strong neighbourly ties underscored by extensive maritime interaction and improved understanding between both countries.

IV.  Sylvie Lucas appointed as Chair of the IGN on UNSC reforms: Luxembourg ambassador to the United Nations (UN), Sylvie Lucas was appointed as the Chair of the Intergovernmental Negotiations (IGN) on UN Security Council (UNSC) reforms.

V.     Russia to launch manned moon missions by 2029: The Russian Federal Space Agency, commonly called as Roscosmos, announced its plans to launch a manned flight to the moon by 2029.

VI.         Bidhya Devi Bhandari elected as the first woman President of Nepal.

OTHER UPDATES:

FINANCE/BANKING:

  I.            City India appoints SamiranChakraborty as its chief economist for India.

II.   India ranked 130 in ease of doing business: World Bank Report: World Bank announced that India ranked 130 out of the 189 countries surveyed in terms of ease of doing business for domestic firms. It was revealed in the report entitled ‘Doing Business 2016: Measuring Regulatory Quality and Efficiency’.

III.   Barclays names former JP Morgan banker as new boss: Troubled British Bank Barclays announced the appointment of former JP Morgan investment banker James Staley as its new Chief Executive.

IV.        PK Gupta elevated as SBI Managing Director.

V.          EXIM Bank announced setting up of project development firm KPDC in Africa: It announced that it will be set up a development firm, the Kukuza Project Development Company (KPDC), in Africa to facilitate Indian participation in infrastructure projects across the continent. IL&FS Group, African Development Bank and State Bank of India are also the shareholders in KPDC.

SPORTS:

VI.        Jammu and Kashmir to host South Asian Rugby 7’S Championship in 2016.

VII.    IOC allowed refugees to compete in Olympics for the first time: The International Olympic Committee (IOC) chief Thomas Bach announced that all the highly qualified athletes who are refugees will be allowed to compete in the Olympic Games.

AWARDS:

VIII.  India’s Chintan Group bags UN Climate Solutions Awards: An Indian environment group was awarded this year’s UN Climate Solutions Awards for their work with waste pickers and e-waste to tackle climate change. The prestigious award was given to the Delhi-based group for its project ‘E-waste: From Toxic to Green’.

IX.       Shashi Kapoor honoured with Retrospective at 2015 International Film Festival of India (IFFI).

OBITUARIES:

  X.    Renowned Ireland born Hollywood actress Maureen O’Hara passes away at the age of 95.

XI.      Britain’s Curry King Lord Gulam Noon died of cancer at the age of 79:Known as the Curry King, Noon founded the Noon Products business, which is credited with the popularity of Chicken Tikka Masala in Britain.