Daily GK Updates - 27th January, 2018

NATIONAL UPDATES:

1. The leaders of 10 ASEAN countries got a glimpse of India’s indigenous military technologies that were displayed at the Republic Day Parade: At the head of the marching contingents were soldiers from Rajputana Rifles, bearing the ASEAN flag as well as those of the 10 nations whose leaders were the chief guests this year. Then came a series of weapon systems and critical technologies developed indigenously. These include the under-development Nirbhay, a long-range subsonic cruise missile, which made its debut this year. With a range of 1,000 km, it is equivalent to the U.S. Tomahawk cruise missile. Another débutant was Rudra, the weaponised Advanced Light Helicopter (ALH), which has already been inducted into service. The Akash Short Range Surface to Air Missile (SR-SAM) system and the BrahMos cruise missile developed with Russia were also on display. Several countries, including some ASEAN nations, have expressed interest in buying these systems, and discussions were under way.

2. Kolkata becomes first Indian metro to get a floating market: West Bengal Chief Minister Mamata Banerjee has inaugurated Indian’s first Metro Floating Market located on the eastern fringes of Kolkata. The market will be located on a water-body with boats doubling up as shops. It will host at least 114 boats, each one accommodating two shops. The market will remain open from 6 am to 9 pm on all days, with a break in the afternoon.

3. Indian-origin boy Mehul Garg sets new Mensa record: A 10-year-old Indian-origin boy in the U.K. has become the youngest applicant in a decade to achieve the highest score in the Mensa IQ test, beating geniuses like Albert Einstein and Stephen Hawking. Mehul Garg from the Reading Boys Grammar School in Reading, southern England, scored the maximum score of 162 to become a member of Mensa, the High IQ Society. His score is two points higher than Einstein and Mr. Hawking. Mehul, who enjoys solving the Rubik’s Cube in under 100 seconds, is also working towards his participation in the ‘Child Genius 2018’ show on Channel 4 after being shortlisted among the top 100 candidates for this year.

4. Punjab CM launches MGSVY for distressed sections of society: The Chief Minister of Punjab Amarinder Singh has launched 'Mahatma Gandhi Sarbat Vikas Yojana'(MGSVY), aimed at the inclusive growth of the distressed sections of the society. The objective of the programme was to give the distressed sections the help they need, socially or economically or psychologically.

5. “Bharat Parv” begins at Red Fort in Delhi: Tourism Secretary Rashmi Verma has inaugurated the six-day cultural extravaganza “Bharat Parv” at the Red Fort in Delhi, As part of the Republic Day celebrations. The objective of the event is to generate a patriotic mood, promote the rich cultural diversity of the country and to ensure wider participation of the people. Folk and Tribal Dances and Music from the different States will be showcased during cultural programmes. Bharat Parv will remain open for public from 12 Noon to 10 PM until 31st of this month.

6. Veteran Bengali film actress Supriya Devi passes away: Veteran Bengali film actress Supriya Devi (85-year) passed away in Kolkata. She had made her debut in Uttam Kumar-starer 'Basu Parivar' (in 1952) and never looked back after 'Sonar Harin' opposite Uttam Kumar (in 1959) 'Chowringhee', 'Bagh Bandi Khela' and 'Meghe Dhaka Tara' were among her classics. She received the Padma Shri and West Bengal government's highest civilian award Banga Vibhushan, besides the Filmfare East Lifetime Achievement Award.

7. Atal Pension Yojana: The union govt has allowed Small Finance Banks and Payments Banks to offer Atal Pension Yojana (APY). Ten Small Finance Banks and 11 Payment Banks have got the license from Reserve Bank of India (RBI) to start banking operations in the country. The Banks includes Ujjivan Small Finance Bank, Janalakshmi Small Finance Bank, Suryoday Small Finance Bank, India Post Payment Bank and Paytm Payment Bank. The scheme is available to the people in the age group of 18 to 40 years. Under the scheme, a subscriber would receive a minimum guaranteed pension of Rs. 1,000 to 5,000 per month from the age of 60 years depending upon the contribution. At present, over 84 lacs subscribers are registered under the APY scheme with an asset base of more than 3,194 crore rupees.

INTERNATIONAL UPDATES:

1. Italy organises ‘trial’ of dead king to mark Holocaust remembrance: Eighty years after Mussolini began persecuting Jews, Italy is putting the dead king who backed his racial laws on trial. The setting may be a theatre, but the prosecutor, witnesses and three judges meeting in Rome are real, their scrutiny of the controversial monarch part of events organised to mark Holocaust Remembrance Day. “The Trial” comes a few weeks after the remains of Victor Emmanuel III were discreetly returned to Italy. The king, who ruled from 1900 to 1946, fled in disgrace and died in exile in Egypt in 1948.

2. Heavy fine on foreign vessels for fishing in Sri Lankan waters: According to Sri Lanka’s Minister of Fisheries and Aquatic Resources Development Mahinda Amaraweera, Sri Lanka has increased by over 100 times the fine on foreign vessels to deter them from fishing in its waters. Now, any foreign fishing vessels entering Sri Lankan waters would be subject to a minimum fine of 6 million Sri Lankan Rupees and a maximum of 175 million Sri Lankan Rupees. The Foreign Fisheries Boats Regulation Act aims to prevent illegal fishing activities in the Sri Lankan waters and protect the fisheries and aquatic resources of the country's coastal belt.

3. India & Vietnam release first-ever Commemorative Stamps: India and Vietnam have released first ever set of commemorative postage stamps to mark the long-term friendly bilateral relationships between the two countries. The two set of stamps released carry picture of Sanchi Stupa and Thien Mu Pagoda.

4. Spain expels Venezuela envoy in tit-for-tat move: Spain on Friday ordered Venezuela’s Ambassador Mario Isea to leave in a tit-for-tat move, escalating a row a day after its diplomat Jesus Silva was kicked out by Venezuelan President Nicolás Maduro’s regime. Caracas on Thursday also accused Madrid of masterminding recent European Union sanctions on seven of Mr. Maduro’s key allies.

5. China to set up international courts to deal with BRI cases: China has decided to set up three international courts to deal with disputes related to its multi-billion Dollar Belt and Road Initiative (BRI). The Chinese Supreme People's Court will set up international courts in Beijing, Xi'an, the capital of Shaanxi Province and Shenzhen. The Xi'an court in Northwest China will handle cases related to the Silk Road and the Shenzhen court in South China with those related to Maritime Silk Road disputes. The courts will weigh litigation, arbitration, and mediation, providing legal support and solving initiative disputes. The BRI focuses on connectivity and cooperation between Eurasian countries, primarily with China.

OTHER UPDATES:

SPORTS:

1. BCCI considers doubling fees of other international boards: The IPL chairman Rajiv Shukla has stated that the Board of Control for Cricket in India has been considering a proposal to double the share of fees it offers to other international Boards for making overseas players available for the tournament.

BUSINESS/ECONOMY:

1. Alpha wins Rs. 45 crore firing simulator order from Army: Alpha Design Technologies Ltd. has signed a Rs. 45-crore deal with the Ministry of Defence to supply to the Army indigenous simulators for gunnery and missile firing from BMP II vehicles. The BMP II is a Soviet-origin amphibious infantry fighting vehicle. The simulators will be used to train missile firing personnel. As many as 57 simulators would be manufactured at the company’s Bengaluru facility and supplied to the Army over two years, said Col. (retd.) H.S. Shankar, chairman and managing director, Alpha Design.

2. RIL aims to pare debt in 2018: India’s most indebted firm Reliance Industries Ltd. (RIL), with outstanding loans of Rs. 2.13 lakh crore, plans to deleverage as it nears the completion of its Rs. 3 lakh-crore capital expenditure cycle. However, with Moody’s Investors Service estimating that Reliance Jio likely to invest as much as $23 billion over three to four years as it expands beyond wireless services, a significant reduction in RIL’s debt may take longer to achieve. The company is also set to invest about $4 billion in acquiring telecom assets of Reliance Communications.

HONOURS/AWARDS:

1. Jyoti Prakash Nirala honored with Ashok Chakra posthumously: President Ram Nath Kovind had tears in his eyes when he conferred the Ashok Chakra to the widow of Corporal Jyoti Prakash Nirala at the Republic Day Parade. Ashok Chakra is the highest peacetime military decoration. Nirala was posthumously awarded the Ashok Chakra. Nirala was an Air Force Garud commando posted in Jammu and Kashmir, when he was martyred. Corporal Nirala gave the supreme sacrifice of his life but not before gunning down two terrorists in Jammu and Kashmir’s Bandipora in November. President Ram Nath Kovind awarded India's highest peace time military decoration Ashok Chakra posthumously to Indian Air Force (IAF) Corporal Jyoti Prakash Nirala (from Bihar). The award was received by Corporal Nirala's wife Sushmanand and his mother Malti Devi at the majestic Rajpath.