Daily GK Updates - 20th February, 2018

NATIONAL UPDATES

1. India test fires Agni-II missile: India has test-fired its medium range nuclear capable Agni-II missile with a strike range of 2,000 km from Abdul Kalam Island off Odisha coast. Agni-II is developed by Advanced Systems Laboratory along with other DRDO labs and integrated by Bharat Dynamics. The 20-m-long Agni-II ballistic missile has a launch weight of 17 tonne and can carry a payload of 1,000 kg over a distance of 2,000 kms.

2. SC directive to let a tribunal settle the Mahanadi water dispute: Cabinet has approved setting up of a tribunal to resolve the dispute between Odisha and Chhattisgarh on sharing Mahanadi river water. The tribunal would determine water sharing on the basis of availability of water in Mahanadi basin, present utilisation of water resource and potential for future development. The decision came after SC directive to form the tribunal to resolve the long-standing dispute.

3. RB Pandit takes over as Commandant of INA: Vice Admiral RB Pandit, Flag-Officer-Commanding, Western Fleet at Mumbai, took over as the Commandant of Indian Naval Academy. He replaces Vice Admiral SV Bhokare who handed over responsibilities to Vice Admiral Pandit after a tenure of over 15 months.

4. Govt. gives nod to Chit Funds (Amendment) Bill: Cabinet has given its nod to introduce Chit Funds (Amendment) Bill in the parliament. Bill aims to amend Sec 85 (b) of the Chit Funds Act, 1982 to remove ceiling of Rs. 100. It also aims at hiking ceiling of foreman’s commission from a max of 5% to 7%. Chit business will be required to use the word Fraternity Fund to signify its nature as well as to differentiate its working from Prize Chits.

5. India to be Global Host for Environment Day: India and United Nations have signed a document declaring India as the Global Host of World Environment Day, 2018. This came despite the fact that India was one of three countries to reject concrete target in a UN agreement to reduce plastic waste in oceans in December 2017. The theme of this year’s environment day observance is ‘Beat Plastic Pollution’.​​

6. PNB fraud case-Firestar finance head Vipul Ambani arrested: The Central Bureau of Investigation (CBI) on Tuesday arrested Firestar International president (finance) Vipul Ambani and four other key executives of companies implicated in the alleged ₹11,400-crore fraudulent transactions in the Punjab National Bank (PNB). Mr. Ambani, who was President (finance) of the Firestar Diamonds of the Firestar International group, has been arrested in the case against Nirav Modi and others. “He has been accused of being involved in the scam”.

7. RBI sets up panel to look into factors leading to bank frauds: The Reserve Bank of India (RBI) has set up a panel under board member Y.H. Malegam, a former president of Institute of Chartered Accountants of India (ICAI), to look into the factors leading to increasing incidents of bank frauds. The move comes a week after Punjab National Bank said it has fallen victim to a Rs11,400 crore fraud, at the centre of which is billionaire jeweller Nirav Modi. The Malegam panel will also look into reasons for high divergence in NPA classification and provisioning by banks.

INTERNATIONAL UPDATES

1. Pakistan the riskiest and Japan the safest place to be born: According to a UNICEF report, Pakistan is the riskiest country to be born in, with 1 in 22 babies born there dying before they turn 1 month old. India’s neonatal mortality rate is 25.4, which ranks it at 12 among 52 “lower-middle-income countries” in terms of risk for newborns. The safest nation for birth is Japan, where less than 1 in 1,000 babies die by the time they complete a month.

2. Saudi Arabia to host its first Arab Fashion Week: Saudi Arabia is set to host its first Arab Fashion Week next month as part of a push to support aspiring Saudi designers and drive growth in the sector. The move is another example of the opening up of the country under Crown Prince Mohammed Bin Salman’s ambitious transformation programme.

3. Mandarin approved as official language of Pakistan: Pakistani Senate has approved a motion to declare Mandarin as one of the official languages of Pakistan. Relation between Islamabad and Beijing would deepen further and help people connected with CPEC communicate easily if Mandarin was made the official language. Punjabi, which is widely spoken in Punjab province of Pakistan, Pashto and many other native languages have not been declared official languages.

4. India warns Maldives not to extend emergency: India on Tuesday issued a subtle warning to the Maldives not to extend a state of emergency, urging it to restore democracy amid reports that President Abdulla Yameen was planning to keep emergency provisions in place for another month. Maldives has been under a state of emergency since 5 February after the country’s Supreme Court ordered the freeing of nine opposition lawmakers including former president Mohamed Nasheed after overturning charges of terrorism against them.

OTHER UPDATES

DEFENCE:

1. Defence acquisition council approves purchase of military hardware worth Rs1,850 crores: The defence acquisition council (DAC) on Tuesday approved the purchase of military hardware worth over Rs1,850 crore, including combat vehicles for the army. The DAC, which was chaired by defence minister Nirmala Sitharaman, also approved the procurement of a survey training vessel for the Indian Navy’s growing hydrographic survey needs in ports, harbours and exclusive economic zones, the statement said.

BUSINESS/ ECONOMY:

1. Virgin group and Mah govt. to build Hyperloop: The Virgin Group has signed an ‘intent agreement’ with the Maharashtra State govt to build a hyperloop transportation system between Mumbai and Pune. The first hyperloop route will link central Pune with Mumbai and the proposed Navi Mumbai international airport. The ​hyperloop is expected to reduce travel time between the cities to 20 minutes, from the present three hours.

2. Three UK cities partner to attract more tourists from India: In a first-of-its-kind partnership, London, Manchester and Birmingham will collaborate on the ‘Experience England’ initiative to promote the best of English tourism. The cities have partnered to attract more tourists from India, China and the Gulf Cooperation Council.