Daily GK Updates - 31st October, 2016

NATIONAL UPDATES:

1. Benami Transactions Act to curb black money comes into effect: The new law to prohibit benami transactions will come into effect from 1st of next month (01st November 2016). Parliament had passed the Benami Transactions (Prohibition) Amendment Act, 2016 to curb black money. After coming into effect, the existing Benami Transactions (Prohibition) Act, 1988 will be renamed as the Prohibition of Benami Property Transactions, PBPT, Act, 1988. The new legislation provides for seven years imprisonment and fine for those indulging in illegal transactions.

2. 47^th International Film Festival of India to be held in Goa in November: SEVEN MARATHI films — including four feature and three non-feature films — have made the cut to be screened at the Indian Panorama of the 47th International Film Festival of India (IFFI) in Goa from November 20 to 29. The blockbusters like Sultan, National-award winning Baahubali and Airlift will be screened at the upcoming 47th International Film Festival of India.

INTERNATIONAL UPDATES:

1. Spain breaks deadlock and re-elects Rajoy as Prime Minister: Mariano Rajoy, Spain's acting prime minister and leader of its center-right Popular Party, was re-elected after winning a parliamentary vote. Mr Rajoy has led a caretaker administration since losing his overall majority in an election last December. A repeat election in June failed to end the impasse but strengthened his hand.

OTHER UPDATES:

FINANCE/BANKING:

1. World Bank appoints Kristalina Georgieva as Chief Executive: Kristalina Georgieva, a former head of EU humanitarian affairs and vice-president of the European commission, has been appointed chief executive of the World Bank.

SPORTS:

2. SaniaMirza retains world number ranking in Women’s Doubles for the 2^nd consecutive year: Ace Indian tennis star Sania Mirza will end the season as world's top doubles Tennis player for the second straight year. Sania finished this season with seven Women's Tennis Association, WTA titles, a Grand Slam and a semi-final finish in the year ending WTA Finals in Singapore.

3. India beat Pakistan in final to win Asian Champions Trophy: India celebrated Diwali by winning gold medal in the Men’s Asian Champions Trophy by beating arch-rivals Pakistan 3-2 in the final in Malaysia. This is the second time India have won the title of this tournament. India won the inaugural tournament in 2011.