Daily GK Updates : 2nd April, 2017

­­­NATIONAL UPDATES:

1. PM Narendra Modi inaugurates Asia's longest tunnel: Prime Minister Narendra Modi has inaugurated the 9.2 km long Chenani-Nashri all-weather road tunnel on the Jammu-Srinagar National Highway.  The road tunnel will reduce the travel time between the two state capitals of Jammu and Srinagar by approximately two hours.The two-lane Chenani-Nashri tunnel is Asia's longest bi-directional highway tunnel, which will cut the distance between Jammu and Srinagar to around 250 km from the current 350 km. The world's sixth road tunnel has a transverse ventilation system enabled and controlled by ABB software. It also boasts features like Integrated Traffic Control System (ITCS), Video Surveillance System, FM Rebroadcast System, Entrance Detection Control System and Active Firefighting System. There are 124 closed-circuit TV cameras for surveillance inside the tunnel. In case of a traffic violation, the control room will inform the traffic police deployed outside the tunnel, who will fine the violators on the spot. 

2. Second annual meeting of BRICS New Development Bank held in New Delhi: A new financial order built by the emerging BRICS economies of Brazil, Russia, India, China and South Africa. New Delhi is playing host to Second Annual Meeting of the New Development Bank (NDB) also known colloquially as BRICS bank. This is the first time the meet is happening in India. MOUs were signed between NDB and European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD), Asian Infrastructure Investment Bank (AIIB), Eurasian Development Bank (EDB) and International Investment Bank (IIB).  India has sought USD 2 billion loans for various projects from the NDB. India has also signed a 350 million dollar loan agreement with NDB for financing Development and Upgradation of Major District Roads in Madhya Pradesh.

INTERNATIONAL UPDATES:

1. .World Autism Awareness Day: 02nd April 2017: The World Autism Awareness Day 2017 has been observed across the world on 2 April 2017.  The theme for this year is "Toward Autonomy and Self-Determination".  World Autism Awareness Day is an internationally recognised day, encouraging Member States of the United Nations to take measures to raise awareness about children with autism throughout the world.

2.  American singer & song writer Bob Dylan accepts Nobel literature award: American singer and song writer Bob Dylan has finally accepted his Nobel Prize for literature, more than three months after the awards ceremony.  The academy, which awards the coveted prize, ended prolonged speculation as to whether the 75-year-old troubadour would use a concert stopover in Stockholm to accept the gold medal and diploma awarded to him. They were handed to Dylan at a "private ceremony in Stockholm, Sweden" attended by 12 academy members and Sara Danius, the academy's permanent secretary.

3. NDB invests $1.5 billion in 7 projects in 2 years of operation: The BRICS-backed New Development Bank (NDB) has invested in seven projects totaling $1.5 billion in about two years of its operation. NDB began operations in July 2015. Seven projects have been done so far which aggregate around $1.5 billion. Six of them are in the renewable energy sector and one in transport financing. The New Development Bank was created with an objective of financing infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries.  The Bank seeks to complement the efforts of other multilateral development institutions. And, it also seeks to establish a network of global, regional and local partnerships with multilateral and national development banks as well as other institutions and market players.

OTHER UPDATES:

SPORTS:

1. Jepkosgei smashes three world records at Prague Half Marathon: Kenya's Joyciline Jepkosgei has broken the world half marathon record as well as the 10km and 15km marks at the Prague Half Marathon on the way to winning the IAAF Gold Label Road Race in one hour, four minutes and 52 seconds. The 23-year-old, who was competing in just her fifth half marathon, clocked splits of 30:05 and 45:37 to improve the 10km and 15km world records. Defending champion Violah Jepchumba of Kenya finished second in 65:22, with Fancy Chemutai third.

BUSINESS & FINANCE:

2. Post merger, SBI begins operations as unified entity: The State Bank of India, the country's largest lender has started functioning as unified entity from 01st April 2017 post merger of its five associate banks, besides Bharatiya Mahila Bank. The five associate banks merged with the SBI are State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore. With the merger, the SBI joins the league of top 50 banks globally in terms of assets.  ii. The total customer base of the bank reaches 37 crore with a branch network of around 24,000 and nearly 59,000 ATMs across the country. The merged entity now has a deposit base of more than Rs 26 lakh-crore and advances level of Rs 18.50 lakh crore. 

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