Daily GK Updates - 4th November, 2016

NATIONAL UPDATES:

1. GST Council approves 4-tier rate at 5%, 12%, 18% and 28%: GST Council approved a four-tier GST tax structure of 5%, 12%, 18% and 28%, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess.

2. India to host 7^th session of COP7 on tobacco control from Nov 7-12: 7th Session of the Conference of Parties (COP7) to World Health Organization, WHO Framework Convention on Tobacco Control (FCTC) will be held from november 7th to 12th of this month at Greater Noida.

3. Government and 3 PSUs to set up $2 billion equity fund for renewables: The Centre, along with state-run power entities NTPC, REC and PFC, will soon launch a USD 2 billion clean energy equity fund to support the government's ambitious target of adding 175 GW renewable energy generation capacity by 2022.

4. Young Indian Lawyer gets elected into UN’s top body of Legal Experts: 33-year-old Aniruddha Rajput is among the 34 individuals elected by the General Assembly as members of the International Law Commission.

5. Google ties up with ASI for virtual tour of monuments: American multinational technology company, Google has tied up with Archaeological Survey of India (ASI) for 360-degree virtual tour of 280-odd monuments across the country

6. Minister of Railways inaugurates International Conference on Decarbonisation of Indian Railways in New Delhi: Minister of Railways Shri Suresh PrabhakarPrabhu has inaugurated the International Conference on Decarbonisation of Indian Railways – Mission Electrification in New Delhi on November 3, 2016. It was organised by Institution of Railways Electrical Engineer (IREE) in partnership with ASSOCHAM India.

INTERNATIONAL UPDATES:

1. Paris Climate Agreement becomes international law: The agreement deals with greenhouse gases emissions mitigation, adaptation and finance. The Paris Agreement’s entry into force comes a month after countries representing 55% of the world’s emissions committed to joining the deal. As of November 2016, 192 states and the European Union have signed the Agreement; 97 of those parties have ratified or acceded to the Agreement, most notably China, the United States and India.

2. Saudi Arabia awards water prize to 8 scientists: Saudi Arabia has awarded eight scientists the Prince Sultan Bin Abdulaziz International Prize for Water at a ceremony at the United Nations headquarters in New York.The ceremony was hosted on Thursday by UN. Friends of Water and presided over by Secretary-General Ban Ki-moon along with the prize committee chairman Prince Khalid Bin Sultan Bin Abdulaziz. The bi-annual prize, established in 2002, aims to provide recognition to scientists and others whose work creatively addresses the problem of water scarcity

OTHER UPDATES:

FINANCE/BANKING:

1. Yes Bank launches new mobile banking app: India's Private sector lender Yes Bank has launched “Yes Mobile 2.0” its new mobile banking app with multiple new features and extensive support for banking transactions on Apple and Android-based SmartWatches.

OBITUARIES:

2. Sri Lankan music legend Pandit Amaradeva passes away at the age of 88: Legendary Sri Lankan singer and composer Pandit Amaradeva, recipient of many international honours, including Padma Shri, for his contribution to music, died on 03 November 2016 after a heart attack.

3. Former J&K Deputy Chief Minister passes away at the age of 85: Former Jammu and Kashmir Deputy Chief Minister Mangat Ram Sharma died on 03 November 2016, after a prolonged illness.