Daily GK Updates - 18th February, 2018

NATIONAL UPDATES

1. Canadian PM Justin Trudeau arrives in India: Canadian PM Justin Trudeau is on a 7 day visit to India to further strengthen strategic ties with a focus on defence and counter-terrorism besides expanding trade and investment ties. Both sides are also expected to deliberate on enhancing cooperation in a civil nuclear sector. His visit comes three years after PM Narendra Modi’s state visit to Canada.

2. India’s first artificial intelligence centre to be set up in Maharashtra: Maharashtra state govt. will be setting up India’s 1st institute for artificial intelligence. The AI institute will give a fresh impetus to the ‘fourth industrial revolution’ and promote Mumbai as an investment destination in innovations and data analysis. CM Devendra Fadnavis will unveil the plan for the institute during Magnetic Maharashtra Summit which will be inaugurated by PM Modi.

3. Maha Govt. allows privatisation of cooperative spinning mills: Maharashtra govt has decided to allow privatisation of spinning mills and powerloom societies that are operated on cooperative basis across the state. It will be allowed to be privatised provided they are ready to return the govt. equity, loan and interest thereupon. The State’s new textile policy allows them to change land use, which means they can use it for reasons other than industrial purpose.

4. Kerala Government to geotag livestock farmer houses: Kerala govt. is gearing up to geotag the houses and farms of over 10 lakh livestock and poultry farmers in the state as part of its massive digitisation drive. The objective is to compile a comprehensive digital repository of information of animal husbandry and dairying in the state. The data would be useful during the time of the outbreak of any diseases among domestic animals and birds.

5. Union Bank hit by fraud: Days after the fraud at PNB shook the country, Union Bank has suffered three fraudulent remittances of nearly $2 million. Just like the fraud at PNB, no entries of remittances were made in the ledgers of City Union Bank and transfers were pushed through the SWIFT financial platform. The transfers were made through correspondent banks even though it had not requested the transfers.

INTERNATIONAL UPDATES

1. Tibetan Buddhism’s most sacred shrine, Jokhang Monastery, damaged: A fire broke out at the most important shrine in Tibetan Buddhism –  Jokhang Monastery in Lhasa. The incident took place as Tibetans were celebrating Losar, their traditional new year. The Jokhang monastery, which is over 1,000 yrs old, is a Unesco World Heritage Site.

2. Ethiopia declares national state of emergency: A state of emergency has been declared in Ethiopia after the resignation of Prime Minister Desalegn. Emergency has been declared as protests have caused massive displacement of citizens, destruction of properties and threats against constitutional order of the country. In Aug 2017, Ethiopia lifted a 10-month state of emergency imposed after hundreds of people were killed in anti-govt protests.

OTHER UPDATES

BANKING/ FINANCE:

1. Fairfax to acquire 51% stake in CSB: Canadian investor Prem Watsa’s owned Fairfax Holdings will buy a 51% stake in Kerala-based Catholic Syrian Bank. The deal, if it materialises, will be the first takeover of an Indian bank by a foreign non-banking financial entity after RBI tweaked ownership norms last May. Founded in 1921, CSB has a strong base in Kerala and a significant presence in Tamil Nadu, Karnataka and Maharashtra.

BUSINESS/ ECONOMY:

1. WhatsApp to launch inter-bank money transfer: WhatsApp will launch a “full feature” inter-bank money transfer service in India, its biggest market, after a test involving a million users. This uses customers’ phone numbers linked to bank accounts to facilitate payments. 4 banks will join United Payments Interface which powers the payments service for WhatsApp. At present ICICI Bank processes the fund transfers on WhatsApp.

2. India’s largest train the trainers programme by Pullela Gopichand: Pullela Gopichand has initiated country’s largest train the trainers programme, inducting 1500 Physical Education teachers from across Gujarat for advanced training. It aims to develop the skills of PE teachers so that they can impart the right techniques to children aspiring to make it big at sports. It will look at all-round development in sports, targeting PE teachers, students and schools.

3. India slides 16 spots on globalisation index: According to Global Connectedness Index 2016, India dropped 16 spots to 78 from 62 in 11 years to 2015. India’s 16-place drop was the 2nd worst change among its neighbours in central and south Asia. Georgia fared the best by moving up 43 spots to 56 while Sri Lanka was the worst, dropping 19 spots to 86. The index takes into account international flows of trade, capital, information and people.

SPORTS:

1. Yuzuru Hanyu retains gold medal: Japan’s Yuzuru Hanyu has become the first figure skater in 66 years to win back-to-back Winter Olympic gold medals in the men’s singles event. Hanyu won the title with 317.85 points, beating compatriot Shoma Uno and multiple world champion Javier Fernandez of Spain to the second and third spots. He also became the 1,000th gold medal winner in the history of Winter Olympics.