Daily GK Updates - 26th July, 2017

NATIONAL UPDATES:

1. 18th Kargil Vijay Diwas celebrated: Nation is celebrating 18th Kargil Vijay Divas to remind India’s military prowess and the great sacrifice of our soldiers. On July 26, 1999, Indian army succeeded in reclaiming all the posts in Kargil region from Pakistan.

2. Rajnath Singh chairs first meeting of Island Development Agency (IDA): Union Home Minister Rajnath Singh chaired first meeting of newly constituted Island Development agency(IDA). The IDA was set up on June 01, 2017 following the Prime Minister’s review meeting for the development of islands.

3. Uttar Pradesh’s RERA website launched: UP- RERA’s (Real Estate Regulatory Act) registration platform “up-rera.in” website was launched in Lucknow. Now the builders of Uttar Pradesh can register their projects on the site and instantly get a RERA registration number. The builders have four days until 31st July to register their existing projects.

4. Nitish Kumar resigns as Bihar Chief Minister: Bihar Chief Minister Nitish Kumar resigned from his post by submitting his resignation to Governor Keshri Nath Tripathi. Governor has accepted his resignation and asked him to continue as caretaker CM. This is a big blow to the Mahagathbandhan and the Congress.

5. Sovereign Gold Bonds Scheme revised: The target of the scheme is to shift a part of the estimated 300 tons of physical bars and coins purchased every year for investment into ‘demat’ gold bonds. However, the scheme has not performed as expected and hence the revision. According to the revision, the investment limit under the scheme per fiscal year has been increased to 4 kg for individuals, 4 Kg for Hindu Undivided Family (HUF) and 20 Kg for Trusts and similar entities notified by the Government. The ceiling will be counted on financial year basis and will include the SGBs purchased during the trading in the secondary market.  

6. Government approves first housing project on private land under Pradhan Mantri Awas Yojana: The Union Ministry of Housing and Urban Development has approved construction of 30,000 affordable houses in Maharashtra’s Sholapur district for the urban poor on private land under Pradhan Mantri Awas Yojana (Urban). It was approved by an Inter-ministerial Central Sanctioning and Monitoring Committee (CSMC), chaired by HUA Secretary. It is first such project to be taken up on private land under PMAY(U). 

International UPDATES:

1. BRICS Youth forum opens in Beijing: The 2017 BRICS Youth Forum opened in Beijing, China to discuss the development of the youth in countries of the BRICS nations. The theme of the forum is 'Enhance BRICS Partnership, Promote Youth Development'.

OTHER UPDATES:

BUSINESS & ECONOMY:

1. IMF retains India 2017 GDP growth forecast at 7.2%: The International Monetary Fund (IMF) in its July World Economic Outlook (WEO) Update has retained India’s projected GDP growth rate at 7.2% for 2017-18, slightly up from 7.1% in the previous year.

2. Yatra.com acquires Air Travel Bureau: India’s second largest online travel operator, Yatra.com has acquired corporate travel services provider Air Travel Bureau(ATB). ATB is India’s largest corporate travel services provider with client base of over 400 companies.

3. Axis Bank set to buy Freecharge from Snapdeal for up to Rs400 crore: Axis Bank Ltd is nearing a deal to buy digital payments platform Freecharge for Rs350-400 crore in cash, giving much-needed breathing space to the latter’s parent Snapdeal, which is separately in talks to sell itself to larger rival Flipkart.

SPORTS:

4. Kylie Masse wins 100m backstroke world gold in record time: Kylie Masse (21-year) stormed to women's 100m backstroke gold in a new world-record time at the world aquatics championships in Budapest.