Daily GK Updates - 1st August, 2017

NATIONAL UPDATES:

1. Union Govt. orders LPG prices to be hiked by Rs. 4 per month: The Union Govt. has ordered state-run oil companies to raise the price of subsidized cooking gas (LPG) by four rupees (excluding tax) per cylinder every month to eliminate all the subsidies by March 2018. The order came into effect on 1st June 2017.

2. Arvind Panagariya, the Vice Chairman of NITI Aayog, resigns: Arvind Panagariya has resigned as the vice-chairman of NITI Aayog. He will return to academia in US & August 31 will be his last day in office.

3. Mukesh Ambani becomes Asia’s 2nd richest person – Bloomberg Index: Mukesh Ambani has surpassed Hong Kong business tycoon Li Ka-shing to become Asia’s second richest man. Ambani’s total net worth stood at $35.2 billion making him the 19th richest person in the world as per Bloomberg Index. Jack Ma, the founder of Alibaba.com remains Asia’s richest person.

4. Lt. Gen. Abhay Krishna has been appointed as head of Army’s Eastern Command: He was heading Army’s South Western Command & has vast experience of Sikkim sector, he succeeds Lt. Gen. Praveen Bakshi.

5. Rajya Sabha passes Constitution (123rd Amendment) Bill, 2017 with amendments: The Rajya Sabha (RS) passed the Constitution (123rd Amendment) Bill -2017 with amendments to create a new commission with constitutional status for the OBCs at par with the National Commissions for Scheduled Castes and Scheduled Tribes.

6. Use of 5 harmful metals in firecrackers banned: Supreme Court has imposed a ban on use of 5 harmful metals in firecrackers as they cause enormous air pollution. A bench headed by Justice Madan B Lokur prohibited use of lithium, mercury, arsenic, antimony, lead metals which are used in manufacturing of firecrackers.

INTERNATIONAL UPDATES:

1. Indian Army participates in tank race as a part of International Army Games: Indian Army team participated in a tank race competition in Russia along with groups from several countries. “Tank Biathlon” commenced at Alabino Ranges on 29 July, Indian Army participated in it with T-90 tanks. It is an international event conducted as part of International Army Games held every year since 2013 in Russia

OTHER UPDATES:

SPORTS:

1. Los Angeles will host the Olympic Games and Paralympic Games in 2028: Los Angeles formally announced its bid for the 2028 Summer Olympics after agreeing on a deal that paves the way for Paris to host in 2024. Both cities had lobbied hard to host the 2024 games.

BANKING & FINANCE:

2. Airtel Payments Bank ties up with HPCL: Airtel Payments Bank has entered into partnership with Hindustan Petroleum Corporation Limited to give further boost to digital payments in the country. All 14,000 HPCL fuel stations will act as banking points for Airtel Payments Bank.

2. RBI slaps Rs 3-cr penalty on Union Bank: RBI has imposed Rs 3 cr penalty on Union Bank of India for non-compliance of know-your-customer norms.

BUSINESS & ECONOMY:

3. Sameer Garde named the President of Cisco India: Cisco has named former Philips Healthcare executive, Sameer Garde as president for its India and Saarc operations. Garde will be responsible for Cisco’s senior-level external engagement, including those with government and industry associations.

4. Facebook acquires AI startup Ozlo: Ozlo specialises in understanding text-based conversations & can provide answers to questions which do not have simple “yes” or “no” answers.