Daily GK Updates - 4th August, 2017

NATIONAL UPDATES:

1. Government disinvests 6.83% of equity in Hindustan Copper Limited: The Union Govt. has disinvested 6.83% of the paid up equity in Hindustan Copper Limited through offer for sale. The government is likely to get approximately 400 crore Rupees from this disinvestment.

2. Lok Sabha passes Banking Regulation Bill, will replace BR Act 1949: Banking Regulation (Amendment) Bill 2017, which was promulgated in May, was passed in Lok Sabha. It will replace Banking Regulation Act 1949, giving govt power to authorise RBI to issue directions to banks to initiate insolvency resolution in case of a default. Bill empowers RBI to issue directives for resolution & appoint authorities to advise banking companies on stressed asset resolution.

3. Government ends 10-yr pact with GVK-EMRI before the schedule: Department of Health & Family Welfare has terminated its 10-year contract with GVK-EMRI which provides emergency response service 108 Arogya Kavacha. Decision was taken citing certain shortcomings of GVK-EMRI group such as delay in providing services, shortage in manpower & not addressing employees’ grievances.

4. Non-performing teachers beyond 50 to be retired compulsorily – Bihar Govt.: Bihar Govt. has decided to compulsory retire non-performing head masters, teachers, and education department officials above the age of 50 years. Those teachers had failed thrice in the assessment test would also be removed.

5. Telangana will become the first state in India to bring AI in public health screening: Telangana government has signed an agreement with Microsoft India to adopt cloud-based analytics solution for Rashtriya Bal Swasthya Karyakram. It will also use of Microsoft Intelligent Network for Eyecare, the artificial intelligence platform with multiple stakeholders, for eye screening.

6. Bengaluru to have country’s first Heli-taxi service: The Kempegowda International Airport will become the first airport in the country to have a helicopter-taxi (heli-taxi) service for those who cannot afford to spend time battling traffic to travel across the city. The service, which will be operated by Thumby Aviation Private Limited, is expected to take off within three months.

7. Tata Memorial ties up with IDA for early detection and prevention of Oral Cancer: Tata Memorial Centre has joined hands with Indian Dental Association to start India’s 1st digital initiative for prevention & early detection of oral cancer.

The 2 launched a special course on Oral Cancer on World Head and Neck Cancer Day to create awareness of oral cancer.

8. Lok Sabha passes NABARD (Amendment) Bill: Lok Sabha has passed NABARD  (Amendment) Bill, 2017 by voice vote that seeks to amend National Bank for Agriculture and Rural Development Act, 1981. The Bill allows central govt to increase authorise capital of Bank from Rs. 5,000 cr to Rs.30,000 cr.

INTERNATIONAL UPDATES:

1. USISPF set up: A new representative body — US- India Strategic Partnership Forum (USISPF) — is being set up to further enhance business relations between the two countries. The body will work closely together with businesses and government leaders to achieve its goals of driving economic growth

2. Israel launches first environmental research satellite VENμS: Israel launched the country’s first environmental research satellite from a launch site in French Guinea. It in a joint venture between the Israel Space Agency (ISA) and its French counterpart CNES (Centre National d’Etudes Spatiales).

OTHER UPDATES:

BUSINESS & ECONOMY:

1. Bharat 22 Exchange Traded Fund (ETF) launched: Bharat 22 will comprise shares of 22 companies. ETF will have a single company cap of 15%, while a sectoral cap of 22% will also be in place. Bharat-22 ETF will comprise of the government’s holding in SUUTI, CPSE ETF and PSU banks.

2. Mohammad Mustafa has been appointed as CMD of SIDBI: The Appointments Committee of the cabinet has approved his appointment to the post for a period of three years.

3. Toyota, Mazda tie-up over electric vehicles: Japanese auto giant Toyota and smaller rival Mazda agreed a capital tie-up to focus on joint development of electric vehicles. The move comes as the automotive industry is faced with a major shift towards greener transport and greater use of information technology.

SPORTS:

4. Neymar becomes world’s most expensive footballer: Brazil’s football star Neymar become the world’s most expensive footballer at Rs.1,680 crores. Paris based Saint-Germain (PSG) signed him for a five year deal from Barcelona.

5. World Athletics Championships begins in London: 25 Indian athletes are taking part in this event. India has taken part in every championship since the first one in 1983.