Daily GK Updates - 3rd August, 2016

NATIONAL UPDATES:

1. WEF India Economic Summit in Delhi on October 6-7: World Economic Forum (WEF), will host its annual India Economic Summit on October 6-7 in New Delhi which would be attended by over 500 business and political leaders including top policymakers and CEOs. This year's meet will be convened under the theme, 'Fostering an Inclusive India through Digital Transformation'.

2. Rajasthan becomes first state to approve sewage and waste water policy: Rajasthan has become the first state in the country to approve sewage and wastewater policy. It has been approved by Chief Minister VasundharaRaje in Jaipur. Under this policy, all district headquarters, heritage cities, and cities in the state which have more than one lakh population will be included. Waste water treated under it will be used in irrigation and agricultural work. The requirement of next 30 years will be covered in this policy.

3. Khandu expands cabinet, inducts 10 ministers: In its first expansion of the cabinet, Arunachal Pradesh Chief Minister PemaKhandu has expanded his cabinet by inducting 10 ministers including former Speaker NabamRebia. The politicians included in the cabinet are: TangaByaling, Rajesh Tacho, NabamRebia, HonchunNgandam, WangkiLowang, KamlungMossang, TapangTaloh, Kumar Waii, TakamPario and JomdeKena. All of them were sworn in as cabinet ministers.

4. Kerala cabinet appoints Achuthanandan head of administrative reforms panel: The Kerala cabinet has decided to appoint veteran CPI-M leader V.S Achuthanandan as the chairman of the Kerala Administrative Reforms Commission with cabinet rank.

5. Six new IITs get parliament nod: The Parliament has approved the establishment of six new IITs across the country by passing the Institutes of Technology (Amendment) Bill, 2016 in the RajyaSabha. These IITs will be started in Palakkad (Kerala), Goa, Dharwad (Karnataka), Bhilai (Chhattisgarh), Jammu, and Tirupati (Andhra Pradesh.

6. Neyveli Lignite plans to buy 1200 MW Raghunathpur Thermal Power Project:Neyveli Lignite (NLC) is planning to acquire a 1200 MW Raghunathpur Thermal Power Project (RTPP) of Damodar Valley Corporation (DVC). The proposed acquisition will be done through a joint venture company (JVC) of NLC and Damaodar Valley Corporation DVC with an equity shareholding of 74:26.

7. BHEL commissions 500 MW Marwa Thermal Power Station in Chhattisgarh: State-run Bharat Heavy Electricals Ltd (BHEL) has commissioned the second 500 Mw (megawatt) thermal unit at Marwa Thermal Power Station in Janjgir-Champa district of Chhattisgarh.

8. Anant Maheshwari named as the President of Microsoft India.

INTERNATIONAL UPDATES:

1. Pushpa Kamal Dahal elected as new Prime Minister of Nepal.

OTHER UPDATES:

FINANCE/BANKING:                                 

1. SBI launches cheaper home loan schemes for public sector undertaking employees and Defence personnel: The bank has introduced ‘Privilege Home Loan’ for government employees and ‘Shaurya Home Loan’ for Defence Personnel with pensionable service. Under the new schemes, loans will be available without any processing fees. The interest rates will be 0.05 % less than current interest rates on home loans.

2. AXA, Alibaba, Ant Financial have tied up in global strategic partnership: AXA, Alibaba, and Ant Financial Services have stated that they have agreed to engage in a global strategic partnership to explore opportunities to distribute AXA's insurance products and services through Alibaba's global e-commerce ecosystem.

SPORTS:

3. BCCI appoints Katju to head a legal panel to help implement Lodha report: The BCCI has appointed former SC judge MarkandeyKatju as the head of a 4-member legal panel to help the implications of the Justice Lodha Committee reforms.

4. Angela Ruggiero appointed IOC’s Athletes’ Commissions Chair: Angela Ruggiero is a former ice hockey player who has played more games for Team USA than any other man or woman. She is the current Vice-Chair of the IOC Athletes’ Commission.

OBITUARIES:

5. Nobel Laureate Ahmed Zewail passed away at the age of 70: Nobel Prize-winning Egyptian-American chemist Ahmed Zewail, a science and technology advisor to President Barack Obama and the first U.S. science envoy to the Middle East, has passed away in the United States. He was 70 years old.

6. Former Ferrari driver Chris Amon died at the age of 73.