Daily GK Updates - 7th March, 2016

NATIONAL UPDATES:

1. Gyan Sangam, 3^rd phase of bank reforms to focus on Bad Loan begins in Gurgaon: With mounting bad loans, the second edition of the Finance Ministry’s brain storming session with public sector banks focused on management of non-performing assets and consolidation in the sector.

2. Oil Minister lays foundation stone of Octomax unit at Mathura (UP): Dharmendra Pradhan, the Union Minister for Petroleum and Natural Gases laid the foundation stone of country’s1st of its kind Octomax unit at Mathura refinery.

3. 27 Government banks may be merged into just 6: Finance Minister of India, Arun Jaitley has indicated that the Government may merge 27 public sector banks into just six because the PSB is working under pressure to tackle their dismal bad loan scenario and consolidation is the way forward to handle this situation.

4. Country’s first small Finance Bank to start operations on April 13: Jalandhar-based Capital Local Area Bank has become the first entity to receive the Reserve Bank of India’s licence to start operations as a small finance bank. 

5. Amazon is India’s most trusted Online Shopping Brand: Amazon world’s largest e-retailer is India’s most trusted online shopping brand followed home-grown Snapdeal and Flipkart.

6. Tata Housing ties up with SBI for Women’s Day offer: Tata Housing will allow its women customers to pay only 20% of the agreement values while the balance can be paid on taking possession of the property.

7. ‘Happening Haryana Global Investors Summit 2016’ begins in Gurgaon with 12 participating countries.

8. President Mukherjee presented Standard to 119 HU and Colours to 28 ED of IAF: The Supreme Commander of Indian Armed Forces Pranab Mukherjee presented President’s Standard to 119 Helicopter Unit (HU) and President’s Colours to 28 Equipment Depot (ED) of the Indian Air Force.

9. Sirshendu De selected for Innovation Award 2016 for developing laterite based arsenic water filter.

INTERNATIONAL UPDATES:

1. Myanmar grants operating licenses to four more Asian Banks including SBI: It has granted operating licenses to four Asian Banks, bringing to 13 the number of foreign banks allowed conducting business in the previously isolated country. Bank for Investment and Development of Vietnam, SBI, Taiwan’s Sun Commercial Bank and South Korea’s Shinhan Bank are the four banks which got the licenses.

OTHER UPDATES:

SPORTS:

1. Patna Pirates beat U Mumba 31-28 to win 3^rd season of Pro Kabaddi League.

2. India beat Bangladesh by 8 wickets to win Asia Cup for the record 6^th time.

AWARDS:

3. Amrita Patel gets Mahindra Samriddhi India Agri Lifetime Achievement Award.

4. Renowned Dogri poetess Padma Sachdev awarded Krutitava Smagra Samman.

OBITUARIES:

5. Email inventor Ray Tomlinson dies at the age of 74 due to heart attack.

6. Renowned Singer and Actor K Mani passed away at the age of 45 following a liver ailment.

7. American Actress Nancy Reagan died at the age of 94.