Daily GK Updates - 16th March, 2017

­­­­                     NATIONAL UPDATES:

1. Government launches Trade Infrastructure for Export Scheme: The Union Ministry of Commerce & Industry has launched Trade Infrastructure for Export Scheme (TIES) for developing export linked infrastructure in states with a view to promoting outbound shipments. TIES seeks to bridge the critical infrastructure gap and provide forward and backward linkages to units engaged in trade activities.

2. Government unveils revised Building Code: The Union Ministry of Consumer Affairs, Food & Public Distribution unveiled the revised Building Code, making builders liable for the structure’s safety. The code has been prepared by the Bureau of Indian Standards (BIS). It is voluntary in nature, but the states can incorporate them in their building bylaws.

3. CCEA approves Policy for Early Monetization of Coal Bed Methane Gas: The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi has approved Policy for Early Monetization of Coal Bed Methane (CBM) Gas Marketing and Pricing Freedom for CBM Gas. The policy provides marketing and pricing freedom to the CBM Contractors to sell the CBM at Arm’s Length Price in the domestic market. 

4. Cabinet approves revised MoU with Bangladesh to set up Border Haats: The Union Cabinet has approved Revised Memorandum of Understanding (MoU) and Mode of Operation (MoO) between India and Bangladesh for establishing Border Haats on India-Bangladesh Border. The revised MoU and MoO will provide a legal framework for establishment and operationalization of additional Border Haats along India-Bangladesh border.

5. 15 IIITs declared as Institutes of National Importance: The Union Cabinet chaired by the Prime Minister Narendra Modi has approved Indian Institutes of Information Technology (Public- Private Partnership) Bill, 2017. Decision in this regard was taken by Union Cabinet meeting chaired by the Prime Minister Narendra Modi in New Delhi.

6. Justice Ramalingam Sudhakar takes charge as the Acting Chief Justice of Jammu and Kashmir High Court: Sudhakar took charge as the acting chief justice of Jammu and Kashmir after the previous chief justice, NN Paul Vasanthakumar attained superannuation. President Pranab Mukherjee appointed Sudhakar as the acting chief justice as per the provisions conferred by Section 100 of the Constitution of Jammu and Kashmir.

7. Delhi Airport declared ‘Best Airport in India and Central Asia’: Delhi's Indira Gandhi International Airport (IGIA) has been declared as the "Best Airport in India and Central Asia" in Skytrax World Airport Awards.  The announcement was made at the World Airport Awards held at Passenger Terminal Expo in Amsterdam, Netherlands on Wednesday night.

8.  Cabinet clears special assistance for EAPs in Andhra Pradesh: The Cabinet has approved financial assistance for bifurcated Andhra Pradesh by way of special dispensation in funding of Externally Aided Projects (EAPs) and also the irrigation component of Polavaram project. The special assistance will be provided to the state towards repayment of loan and interest for EAPs signed and disbursed from 2015-16 to 2019-20. The Centre will also fund 100% of the irrigation component of the Polavaram project starting from 1st of April, 2014.

9. Monetization of Coal Bed Methane Gas Marketing and Pricing Freedom for CBM Gas Policy approved by Cabinet: The approval was given by Cabinet Committee on Economic Affairs (CCEA), headed by Prime Minister, Narendra Modi.

Under the policy,  Coal Bed Methane (CBM) Contractors will be capable of marketing and pricing freedom to sell the CBM at Arm's Length Price in the domestic market.

The policy is expected to incentivize the CBM operation in the country in order to boost gas production as well as generate economic activities.

10. Annual Krishi Unnati Mela Begins in New Delhi: The three-day annual Krishi Unnati Mela was inaugurated by Union Agriculture Minister Radha Mohan Singh at the Indian Agriculture Research Institute in Pusa, New Delhi. To provide information on new farm schemes and technologies and another welfare scheme that will help to double the farmer’s incomes by 2022. 

11. International Vision Zero Conference Begins In New Delhi: The International Conference on the Vision Zero and its relevance to Occupational Safety and Health (OSH) began at Vigyan Bhavan, New Delhi. The aim is to focus on the Occupational Safety and Health issues and challenges in the Manufacturing, Construction and Mining sector and provide a forum for promoting safety and health at work by exchanging knowledge, practices, and experience.

12. Pandit Deen Dayal Upadhyay Rashtriya Krishi Vigyan Protsahan Puraskar (2016) awarded in New Delhi: The awards were presented during the inaugural function of Krishi Unnati Mela – 2017. The award was presented by Union Minister of Agriculture and Farmer’s Welfare, Radha Mohan Singh, to Ramakrishna Ashram. The total sum of this award is Rs. 50 lakhs in which there is a provision of one award of Rs. 25.00 lakh at national level and 11 awards of Rs. 2.25 lakh at regional level every year will be awarded.

INTERNATIONAL UPDATES:

1. IISc, IIT-B among THE's top 50 Asian universities list: The Times Higher Education's Asia University Rankings 2017 released on Wednesday listed Bengaluru's Indian Institute of Science at 27, Indian Institute of Technology Bombay at 42, and Chennai's Veltech University at 43. With 33 universities in top-300 (up from 16 last year), India more than doubled its representation, becoming the third most-represented nation on the chart for the first time.

2. Queen Elizabeth II gives royal assent to Brexit bill: 50 bill by signing it into law. This gives PM Theresa May the legal power to choose when to start formal Brexit negotiations with the European Union. May is now free to trigger the exit clause but is not expected to do so until March end.

3. Indian-American sworn-in as top US healthcare agency head: US President Donald Trump's pick Seema Verma was sworn-in as the administrator of the government's Centres for Medicare & Medicaid Services.

4. New Zealand gives a river the legal status of a person: New Zealand has passed a bill to grant the Whanganui River the legal status of a person with all the corresponding rights and duties. The river will be represented by two people, one from the local Maori community and the other by the government. Such a legal status is said to be the first of its kind in the world.

5. World Bank approves USD 450 mn assistance to Pakistan: The World Bank on Thursday approved a financial assistance worth USD 450 million to Pakistan to support its efforts to help the poor and most vulnerable people in the country.

The bank said the programme aims to raise financial access throughout Pakistan to 50% of adults by 2020.

                       OTHER UPDATES:

SPORTS:

1.  Shashank Manohar steps down as ICC Chairman: Manohar had been serving dual role of ICC Chairman as well as BCCI President (since October 2015).

He was elected unopposed as the first independent Chairman of ICC for a two year term in May 2016. He submitted his resignation to David Richardson, ICC Chief Executive, just 8 months into his term.

BANKING & FINANCE:

2. State Bank of India signs MoU with CREDAI: State Bank of India and real estate developers’ body Confederation of Real Estate Developers' Associations of India (CREDAI) have signed a memorandum of understanding (MoU) to jointly conduct various initiatives towards development of the realty sector.

The MoU will be in force for a period of 3 years. CREDAI is the largest real estate association in the country with over 11,500 members.

3. UCO Bank ties up with FGII: Private insurer Future Generali India Insurance Company (FGII) has entered into a corporate agency tie-up for its products with public lender UCO Bank. The PSU lender will provide a window at its bank branches for marketing FGII’s offerings. Apart from UCO, the company has tie-ups with over 100 banks across the country. 

BUSINESS & ECONOMY:

4. FTII (Film and Television Institute of India) signs MoU with Canon: The MoU has been signed to promote short courses in Film & Television. Under this, Canon will support skill-oriented courses as Technology Partner.