Daily GK Updates - 3rd March, 2018

NATIONAL UPDATES

1. World’s largest solar park, Shakti Sthala, inaugurated: The Karnataka government inaugurated the first phase of a 2,000 megawatts (MW) solar park in the drought-prone district, Tumkur. The first phase of the Rs. 16,500 crore park called “Shakti Sthala” will generate 600MW, while the balance 1,400MW is expected to be commissioned by the end of 2018. The solar project is the largest in the world and is spread over 13,000 acres and five villages. It is part of the “Karnataka Solar Policy 2014-2021” which aims to decrease dependence on traditional power sources and move to environmentally friendly ones to meet the growing power needs of the state.

2. UDAY Scheme in Lakshwadeep: Lakshadweep has joined hands with the UDAY scheme which is meant for the revival of debt-stressed power distribution companies (discoms) in the country. The Memorandum of Understanding was signed in this regard with the UT’s Electricity Department. The Union Territory will have an overall benefit of around Rs 8 crore that would provide ways of cheaper funds, reduction in AT&C losses, and intervention in energy efficiency. Initiating mandatory distribution transformer metering, consumer indexing, consumer indexing and GIS mapping of losses and various other requirements will help eliminate the gap between cost of supply of power and realization.

3. Indian companies to participate in the Rooppur Project: Indian companies can now participate in the construction and installation works in the “non-critical” category of the Rooppur nuclear power plant in Bangladesh, according to the Russian atomic energy agency ROSATOM.  The Rooppur project is the first initiative under an Indo-Russian deal to undertake atomic energy projects in third-world countries. This will also be the first time that the Indian companies will be able to participate in a nuclear power project abroad. India, Bangladesh, and Russia signed an agreement in this regard in Moscow, Russia.

4. International Yoga festival at Parmth Niketan: Vice President M. Venkaiah Naidu arrived at Parmath Niketan in Rishikesh to attend the International Yoga Festival. The festival is being attended by National and International participants.  Naidu said India has become the spiritual leader in the world. The purpose of the festival is to make the people aware about Yoga and its benefits.

5. No transaction fees on rail tickets booked with debit card: The Indian Railways has announced that Merchant Discount Rate (MDR) charges won’t be levied on passengers for booking railway tickets through debit cards.

These transactions include those made at the railway ticketing counters as well as through IRCTC ticketing website.

INTERNATIONAL UPDATES

1. Armen Sarkisian-new President of Armenia: He will succeed Serzh Sarkisian. Armen Sarkisian was the ambassador to the United Kingdom. He will assume presidential duties after his predecessor steps down in April 2018. The political shift comes after President Sarkisian, in 2015 initiated, controversial constitutional amendments to turn the impoverished Moscow-allied country into a parliamentary republic with a powerful Prime Minister.

OTHER UPDATES

SCIENCE / TECHNOLOGY:

1. NASA launches advanced weather satellite GOES-S: NASA launched another of the world’s most advanced weather satellites, this time to safeguard the western US. The GOES-S satellite marched towards the orbit aboard an Atlas V rocket. GOES-S is the second satellite in an approx. $11 billion effort that’s already revolutionising forecasting with astonishingly fast, crisp images of hurricanes, wildfires, floods, mudslides and other natural calamities.

DEFENCE:

1. Paschim Lehar, a naval exercise, concludes: Paschim Lehar, a three-week tri-service maritime exercise off India’s western coast, in which several ships, submarines and fighter aircraft participated, has concluded. The objective of the exercise, which commenced on February 12, was to build interoperability. Over 40 naval assets including the aircraft carrier INS Vikramaditya, participated in it.

2. INSV Tarini reaches Cape Town: An all-women crew leading the INSV Tarini docked at a port in Cape Town in South Africa, in the last phase of its maiden voyage to circumnavigate the globe. This is the first-ever Indian circumnavigation of the globe by an all-women crew. The vessel is skippered by Lieutenant Commander Vartika Joshi.

BANKING / FINANCE:

1. RBI lifts per-borrower loan cap for MSMEs: RBI has decided to do away with the per borrower loan limits to Micro/ Small and Medium Enterprises for classification under priority sector lending (PSL). In view of the increasing importance of the services sector and to encourage banks to lend more to this sector, the step was taken. So far, loans to Micro/ Small and Medium Enterprises up to ₹5 crore and ₹10 crore, respectively, were classified as PSL.

2. ICICI and PNB hike rate: The Punjab National Bank (PNB) and the ICICI Bank have hiked the MCLR rates. ICICI Bank raised the one-year MCLR from 8.2% to 8.3%. The PNB, also increased one-year MCLR to 8.3% from 8.15%.

SPORTS:

1. Navjot Kaur wins Gold for India at Asian Wrestling Championship: Navjot Kaur clinched the first gold medal for India in the Asian Wrestling championship in Bishkek, Kyrgyzstan. She defeated Imai Miyu of Japan in the final of women’s 65 kg freestyle. With 1 gold, 2 silver, and 1 bronze medal, India was at the second spot in the medals tally. Vinesh Phogat and Pinki of Indian Railways claimed silver medals while Sakshi Malik won a bronze in the 62-kilogram category. China is leading the table with 4 gold and 1 bronze medal while Japan was at the third place with 1 gold, 1 silver, and 2 bronze medals.

2. Venkatesh Prasad quits as BCCI Junior National Selection Committee Chairman: Former India pacer Venkatesh Prasad submitted his resignation from the post of chairman of the junior national selection committee.

Prasad cited personal reasons for stepping down. He has worked as the head of the committee for 30 months.

3. Sultan Azlan Shah Cup begins: The 27th Sultan Azlan Shah Cup Hockey tournament began in the Malaysian city of Ipoh. Six nations – India, hosts Malaysia, defending champions England, Australia, Argentina and Ireland – are taking part in the tournament. India, currently the world number six, will take on world number two Argentina in their opening round-robin match.