Daily GK Updates - 16th January, 2016

NATIONAL UPDATES:

1. Start-up India: This is the beginning of big bang start up boom in India, says Softbank CEO: Finance Minister ArunJaitley kick-started PM Modi’s ambitious Start-up India mission at VigyanBhawan in New Delhi.

2. NarendraModi initiative has Kochi’s ‘Start-up Village’ plotting more success: Start-up Village commenced operations as India’s first public-private technological business incubator with the aim of creating at least 48 start-up companies in five years. However within three and a half years, it achieved its targets, becoming home to over 70 start-ups in typical incubation mode.

3. World Bank to be anchor investor in Rail Development Fund: Prabhu: The World Bank would be the anchor investor in the new Railway Development Fund, which would be used to fund the modernisation of Indian Railways as said by Railway Minister Suresh Prabhu.

4. Flipkart ties-up with Mahindra for KUV100 online bookings: Online marketplace Flipkart has tied up with auto major Mahindra & Mahindra Ltd to exclusively launch the latter’s newest SUV-KUV100. Consumers can book the SUV on Flipkart from January 18^th, 2016.

5. Cardiac monitoring firm wins tech contest hosted by Google at Start-up India: Cardiac Design Labs, a start-up that has come up with an innovation to help cardiac patients in rural India access critical care through a wearable device, came out triumphant at a live contest hosted by tech firm Google at the Start-up India event.

6. 6^th Asian Mining Congress will be held in Kolkata.

7. 68^th Army Day celebrated on 15^th January 2016.

INTERNATIONAL UPDATES:

1. Chinese President Xi launches Asian Infrastructure Investment Bank: China-backed AIIB, in which India and 56 countries have joined as founding members, was formally opened by Chinese President Xi Jinping.

2. World Bank released report titled World Development Report 2016: Digital Dividends: The report explored the impact of the internet, mobile phones, and related technologies on economic development across the world including India. 

3. Tsai Ing-wen elected Taiwan’s first female President.

OTHER UPDATES:

FINANCE/BANKING:

1. India saved 1 billion US dollars annually using Aadhaar: World Bank: As per the report, transfer of fuel subsidy to bank accounts using the Aadhaar-based Direct Benefit Transfer (DBT) saved about 1billion per year when applied throughout the country on account of reduced leakage and efficient gains.

AWARDS:

2. Dr Jancy James selected for Prof M V Pylee Award for the Distinguished Academician of India.

3. EasterineKire wins The Hindu Prize for her novel ‘When the River Sleeps’.

OBITUARIES:

4. Muslim Personal Law Board spokesperson Mohammed Abdul Rahim Qureshi died of cardiac arrest at the age of 81.