Daily GK Updates - 7th December, 2016

NATIONAL UPDATES:

1. ISRO launches PSLV-C36 carrying remote sensing satellite: The Indian Space Research Organisation (ISRO) has launched PSLV C36 Resource Sat-2A from the SatishDhawan Space Centre in Sriharikota, Andhra Pradesh.

2. Hindi language in the top 10 most powerful languages: The World Economic Forum (WEF) has named Hindi language ranked 10th in the top 10 most powerful languages on the planet. The list features English as the most powerful language followed by Mandarin. The index applied for the consensus took into account various factors including geography, economy and diplomacy. The WEF further forecasted the list for 2050, with Hindi climbing one spot to ninth.

3. RXIL gets RBI nod for 1^st trade receivable exchange platform: The Reserve Bank of India has authorised the Receivables Exchange of India (RXIL), promoted by Sidbi and NSE, to launch the country's first trade receivables exchange platform for MSMEs, buyers and financiers.

4. IOC, BPCL, HPCL join hands to set up India’s biggest oil refinery: The three firms signed the pact for the 60-million tonne a year refinery in Maharashtra with IOCBSE 2.78 % as leader of the consortium. IOC will hold a 50 % stake in the project while BPCL and HPCL will have 25 % each.

5. Mahila E-haat ties up with India Post, SBI: The Women and Child Development Ministry has tied up with India Post and SBI. This will offer more payment options to buyers and simplify shipping of products bought from "Mahila E-haat", an online marketing platform for women entrepreneurs.Now, SBI customers abroad can make use of "SBI Global".

6. The Lifeline Express to get two more coaches for cancer treatment: The world’s first hospital train, Lifeline Express is all set to get two additional coaches for cancer treatment. The decision was announced by the Ministry of Railways on 6th December 2016.  Railway Minister Suresh Prabhu along with Health Minister JP Nadda will be inaugurating the new additions. The coaches are purely equipped for detection and control of oral, cervical and breast cancer and prevention of stroke. They will be accompanied by three fully equipped operation theatres.

7. Ambedkar’s birth anniversary to be observed as ‘Water Day’ in the country: Dr BR Ambedkar's birth anniversary to be observed as 'Water Day' across the country on 14 April, will be observed as “Water Day” across India. The day will be observed to mark Ambedkar’s contribution in water resource management of the country.

8. India to train Vietnam’s Sukhoi fighter pilots: In order to further boost its growing defence ties with Vietnam, India has agreed to train the southeast nation’s Sukhoi-30 fighter pilots. ii. The agreement regarding the same was signed during bilateral discussions between Defence Minister ManoharParrikar and his Vietnamese counterpart, General Ngo Xuan Lich, in New Delhi.

9.  Russia and India to hold naval drills: The Russian-Indian- Indra NAVY-2016 naval exercise will be held from 14th to 21st December. The exercise will be held in the city of Visakhapatnam and in the Bay of Bengal. The first Russian-Indian naval exercises were held in May 2003.

10. Joint maritime exercise ‘Konkan 16’ between India and UK begins: The annual bilateral maritime exercise Konkan-16 between the Indian Navy and the Royal Navy (British Navy) started in Mumbai, Maharashtra. The 2016 edition of the exercise (from 05 to 16 December 2016) will play an important chapter in the maritime interactions.

INTERNATIONAL UPDATES:

1. Singapore tops Global Education Rankings: Singapore has the highest achieving students in international education rankings, with its teenagers coming top in tests in maths, reading and science. The influential Programme for International Student Assessment, Pisa rankings, run by the Organisation for Economic Co-operation and Development, OECD, are based on tests taken by 15-year olds in more than 70 countries.

OTHER UPDATES:

FINANCE/BANKING:

1. RBI leaves repo rate unchanged at 6.25%: The Reserve Bank of India (RBI) has kept its key policy rate, the Repo Rate (RR), at 6.25 %. This was the second meeting of the Monetary Policy Committee (MPC) since its formation two months ago. It was the second monetary review of Urjit Patel, since his taking over as the Governor of RBI on 6th September this year. The Reserve Bank of India (RBI) has lowered the growth forecast by 0.5% to 7.1% for 2016-17.

2. RBI withdraws incremental CRR OF 100% amid note ban: The Reserve Bank of India has withdrawn the incremental cash reserve ratio (CRR) of 100%. The incremental ratio was effective from the fortnight beginning November 26 as a temporary measure to absorb excess liquidity in banking system following demonetisation.

AWARDS:

3. MSME Award for Corporation Bank: Corporation Bank has bagged the ‘Best MSME Bank Award 2016’ instituted by Assocham. Corporation Bank is a public sector banking company headquartered in Mangalore, India.

4. Vijaya Bank bags SME Award: Vijaya Bank has been adjudged ‘Best Bank for SME Lending award’ by Assocham. The award was received by Kishore Sansi, Managing Director & CEO of the bank under ‘Best SME Lending’ category for public sector banks at the fourth SMEs Excellence Award function in New Delhi.

5. BEML bags CII National Quality Award: Bharat Earth Movers Limited Ltd (BEML) has bagged the ‘CII National Quality 2016 Award’. The award has been jointly instituted by the Confederation of Indian Industries (CII) and Export Import Bank (EXIM).

6. Artist Helen Marten wins 2016 Turner Prize: Multimedia artist Helen Marten on 5 December 2016 won the Turner Prize, which is Britain’s top award for contemporary art. The prize comes with a cash award of about USD 31800.

OBITUARIES:

7. Noted Journalist Cho Ramaswamy passes away: Political satirist and founder editor of Thuglak magazine, SrinivasaIyerRamaswamy is popularly known as Cho Ramaswamy passed away due to cardiac arrest in a Chennai hospital on 07 December. He was 82 years old. He was an advisor to former Tamilnadu Chief Minister J Jayalalithaa.