Daily GK Updates - 22nd February, 2018

NATIONAL UPDATES

1. Government Sets Up The “NITI Forum For Northeast”: The Union Government has issued order setting up the ‘Niti Forum for North-East’. The forum will be co-chaired by the Vice-Chairman of NITI Aayog and Minister of State (I/C), Ministry of Development of Northeastern Region (DoNER). The Forum is tasked to identify various constraints on the way of accelerated, inclusive and sustainable economic growth in the North East Region of the country.

2. Avani Chaturvedi becomes the first Indian woman to fly fighter aircraft solo: Flying officer Avani Chaturvedi has scripted history by becoming the first Indian woman to fly a fighter aircraft solo. She flew a MiG-21 bison in her first solo sortie from IAF’s Jamnagar base in Gujarat. She is one of the three in the first batch of female pilots, besides Bhawana Kanth and Mohana Singh, who were inducted in Indian Air Force fighter squadron in 2016.

3. Parivartan scheme launched in Haryana: The state govt. launched Parivartan scheme designed to address 10 issues. The 10 issues include facilitation of financing, making agriculture profitable & sustainable, improving health services, implementing Swachh Bharat, decongesting market areas, engaging the youth, checking air pollution, ensuring availability of identity-related services, effective policing, and ensuring road order and conduct.

4. Only M2M (machine to machine) SIMs to have 13-digit numbers: Starting July 1, 2018 all SIM-based M2M communication devices will carry a 13-digit number, instead of the 10-digit number now. This is applicable only to numbers used by machines to communicate with other machines and not normal retail mobile numbers. The DoT has asked all telecom service providers to ensure that their network elements are aligned with the 13-digit numbering before July 1, 2018.

5. Kamal Haasan launches political party: Actor Kamal Haasan launched his political party ‘Makkal Needhi Maiam’ and hoisted a flag carrying the party’s symbol in Tamil Nadu’s Madurai. Haasan, who has embarked on a statewide tour, visited former President Dr APJ Abdul Kalam’s residence and addressed three public meetings earlier in the day.

INTERNATIONAL UPDATES

1. America pushes for ban on gun ‘bump stocks’, a move welcomed by all: US President Trump has signed an order to ban bump-stock devices, which were used by a gunman who killed 58 Las Vegas concert-goers last year. Such devices enable a rifle to shoot hundreds of rounds a minute.

OTHER UPDATES

DEFENCE:

1. Transport plane Saras to be fast-tracked: The government will fast-track the revived light transport plane Saras towards production and begin the feasibility study for a 70-seater regional transport aircraft RTA-70. The improved 19-seater would be first produced for the Indian Air Force by Hindustan Aeronautics Ltd. Saras would be a good fit for regional travel under the subsidised UDAN scheme.

2. Successful Night Trial Of Prithvi-II Missile: India successfully conducted a night trial of its indigenously developed nuclear capable Prithvi-II missile with a strike range of 350 km, from a test range in Odisha. The surface-to-surface missile was test-fired from a mobile launcher from launch complex-3 of the Integrated Test Range at Chandipur, Odisha.

BUSINESS/ ECONOMY:

1. RIL to buy 5% stake in Eros International: Mukesh Ambani-led Reliance Industries said it will buy a 5% stake in NYSE-listed Eros International for $48.75 million (over ₹316 crore). Separately, the companies also announced a ₹1,000-crore fund to produce and acquire Indian films and digital content. It is noteworthy that last year RIL had purchased 25% stake in media company Balaji Telefilms for ₹413 crore.

2. UP’s Khadi products to be now sold on Amazon: Uttar Pradesh’s Khadi and Village Industries Board has signed a pact with Amazon India. It is to facilitate online selling of Khadi products. As part of an MoU, Amazon India will educate, train and enable rural khadi artisans to directly sell their products to Amazon.in customers across the country under the brand of UP Khadi.

3. Capital First gets the NHB nod for merger with IDFC Bank: Capital First announced that the regulator National Housing Bank has approved the merger of the company along with Capital Home Finance and Capital First Securities Limited with IDFC Bank.

4. New KYC rules for telecom company managed payments banks: The Reserve Bank of India (RBI) has said that KYC (Know Your Customer) verification of payments bank customers done by telecom companies is not permissible. It has instructed payments banks to complete the KYC process independently through third parties. This comes after Airtel was penalised by UIDAI for allegedly opening payments bank accounts without ‘informed consent’ of the users.

5. India International Textiles Expo begins in Colombo: A three day India International Textiles Expo of India began in Sri Lankan capital of Colombo. It is being organized by Powerloom Development & Export Promotion Council with the support of Ministry of Textiles & Ministry of Commerce & Industry. At the event, about 45 exhibitors from various textile clusters of India displayed variety of fabrics, home textiles, traditional items etc.

6. EPFO fixes interest rate at 8.55 %: The Employees’ Provident Fund Organisation, EPFO has declared 8.55% interest rate for 2017-18 for its about 5 crore members, the lowest in five years. The move will affect around 6 crore subscribers and leave EPFO with a surplus of Rs 586 crore against Rs 695 crore in the previous financial year. Cut comes at a time when returns on debt funds have decreased to 6.75% from 7.5-8% last year.