Daily GK Updates - 6th November, 2017

NATIONAL UPDATES:

1. Guru Nanak Jayanti: Nanak was the founder of Sikh religion and the first of the ten Sikh Gurus. His words are registered in the form of 974 poetic hymns in the holy text of Sikhism. It is the 548th birth anniversary of 1st Sikh Guru Nanak Dev jee is being celebrated across the country. It was on this day, Guru Jee was born at Rai Bhoi di Talwandi (Nankana Sahib) in Pakistan. Devotees are attending the Gurudwaras to pay obeisance and are also taking bath in 'Pavitar Sarovar'. Guru 3.

2. No tax on cash sales of agricultural produce for less than 2 lakhs rupees: According to the Income Tax (IT) Department circular, the cash sales of agricultural produce by a cultivator to a trader for less than 2 lakh rupees will not attract tax under the Income Tax Act. The cultivator and the trader will also not have to provide their Permanent Account Number or furnish Form 60.vThe clarification came following representations from stakeholders about applicability of income tax provision to cash sale of farm produce by farmers to traders.

3. Cauvery tribunal gets extension of 6 months for report: The union govt. has given a six-month extension to the Cauvery Water Disputes Tribunal (CWDT) to submit its report on Cauvery water sharing dispute between Karnataka and Tamil Nadu. on 2nd June 1990, The CWDT was constituted under section 4 of the Inter-State River Water Disputes Act, 1956 for the adjudication of the water dispute. On 5thFebruary 2007, the tribunal had asked Karnataka to release 192 thousand million cubic feet water to lower riparian Tamil Nadu every year from June to January.

4. India’s first black buck conservation reserve at Allahabad: The Uttar Pradesh state cabinet has decided to make India's first conservation reserve for blackbuck at the Meja forest division near Allahabad. The wildlife conservation reserve will come up on over 126 hectares in Meja forest division undulating and arid terrain. Indian Blackbuck is an antelope and is the only living species of the genus Antilope.

5. The Union Minister Mahesh Sharma has inaugurated the three days North-East Festival, in New Delhi, aims to promote northeast India: The festival, will see performances by artistes like rapper Borkung Hrangkhawl, heavy metal bands Pulse Pandits, Girish & Chronicles (GATC) and Traffic Jam.

INTERNATIONAL UPDATES:

1.  Colombia signs USD 300m UN deal to fight cocaine production: Colombia has signed a USD 300 million agreement with the United Nations (UN) aimed to reduce the production of cocaine. This agreement is opportunity to turn the tide against Colombia's coca cultivation and help farmers embrace alternative development. This initiative will provide compensation to farmers if they revert to producing safer crops like coffee and cacao. Colombia is ranked as one of the main drug-growing nations in the world by the UNODC.

2.  ‘Fake News’ named Word of the Year 2017:  A term ‘Fake news’ has been named the word of the year by Collins dictionary due to its widespread use around the world. According to the Collins Dictionary’s lexicographers (U.K.-based), the use of ‘fake news’ registered a 365% rise in the last 12 months. 'Fake news' takes over from Brexit which was named the definitive word last year after the June 2016 referendum in favour of the U.K.’s exit from the EU.

OTHER UPDATES:

SPORTS:

1. FIFA suspend Peru striker Guerrero for failing doping test: The Federation of International Football Association (FIFA) has provisionally suspended Peruvian Football striker Paolo Guerrero (Peru captain) for 30 days after failing a doping test. Guerrero tested positive on 5th October after the World Cup qualifying match against Argentina. Doping is the taking of banned substances or using prohibited methods to enhance or maintain sporting performance.

BUSINESS/ ECONOMY:

1. Etikoppaka toys from Andhra Pradesh get GI tag: The Geographical Indication Registry (GIR) has given Geographical Indication (GI) tag traditional Etikoppaka toys from Andhra Pradesh. These traditional toys are made by artisans in Etikoppaka village in Visakhapatnam district. The Geographical Indication (GI) is name or sign used on certain products which correspond to specific geographical location or origin. These goods and products having tag are recognised for their origin, quality and reputation and gives it required edge in the global market.

BANKING/FINANCE:

1. Sovereign Gold Bond rate fixed at 2,934 rupees per gram: The price of the new series of Sovereign Gold Bonds (SGBs) has been fixed at 2,934 rupees per gram. The union govt. has decided to offer a discount of 50 rupees per gram to investors applying online and making payments digitally. The subscription opens from Monday to Wednesday every week between 9^th October and 27^th. This round is part of the SGB calendar announced till December and is spread over 12 weeks. The Bond is issued by Reserve Bank on behalf of Government of India.SGBs are government securities denominated in grams of gold, substitutes for holding physical gold. Investors have to pay the issue price in cash and the bonds will be redeemed in cash on maturity.

2. India Post Payment Bank to become operational in 650 districts by April 2018: India Post Payments Bank (IPPB) will become operational in all 650 districts of the country by April next year. These banks will be linked to 1.55 lakh rural post offices and carry out banking services. The two such banks are already operational in Ranchi and Raipur.

AWARDS / HONOURS:

1. Eminent Hindi Litterateur Krishna Sobati will get the Jnanpith Award for 2017 (53rd) for her path breaking contribution to Indian literature:  She is known for experimenting with new writing style and creating bold and daring characters in her stories. She has earlier won the Sahitya Akademi Award (1980) for her novel ‘Zindaginama’ and was awarded the Sahitya Akademi Fellowship (in 1996). The Jnanpith Award is an Indian literary award presented annually by the Bharatiya Jnanpith to an author for their 'outstanding contribution towards literature'.