Daily GK Updates - 30th June, 2018

NATIONAL UPDATES:

1. Aadhaar Virtual ID to be started from July 1 : UIDAI has recently declared to accept Virtual ID from their users from 1st July from service providers and agencies like banks and telecom companies.This will give the users the option of not sharing their Aadhaar number at the time of authentication.The Virtual ID will be a temporary and revocable 16 digit random number mapped to a person’s Aadhaar number.

2. Arunachal to repeal anti-conversion law : BJP-ruled Arunachal Pradesh is likely to repeal the Arunachal Pradesh Freedom of Religion Act or the Anti-Conversion Law which was passed in 1978.The law was adopted to check Proselytism: an act of attempting to convert people to another religion or opinion. But now the govt thinks that it is undermining secularism.Arunachal was the 3rd State after Odisha and MP to enact this law.

3. Govt to link 22,000 rural markets to e-NAM : Centre has announced that 22,000 rural markets would be linked to Electronic National Agriculture Market (e-NAM) by 2020 as part of its drive to double the income of farmers.These rural markets will be upgraded to Gramin Agricultural Markets & linked with e-NAM to enable farmers to sell directly to potential buyers.e-NAM is an electronic unified national market for agricultural commodities

4. India exports Rs 18,000-crore worth spices : India exported a record 10,28,060 tonnes of spices and spice products valued at Rs 17,929.55 crore in 2017-18.There is an increase of 8% in volume and 1% in rupee terms in the year ended March 2018, compared to the previous financial year.The export of value-added products like curry powder/paste, spice oils and oleoresins also increased in volume and value during the period

5. Govt notifies Electoral Bond Scheme 2018 : Govt has recently notified Electoral Bonds, which may be purchased by a person, who is a citizen of India or incorporated or established in India.Political Parties registered under Section 29A of Representation of People Act, 1951 shall be eligible to receive Electoral Bonds.Electoral Bonds shall be valid for 15 days from the date of issue & no payment shall be made after the expiry date

6. NITI Aayog releases first Delta ranking :NITI Aayog has launched the first Delta ranking (incremental progress) for the Aspirational Districts.The ranking is based on self-reported data of districts across 5 developmental areas of Health & Nutrition, Education, Agriculture & Water Resources, Financial Inclusion & Skill Development & Basic Infrastructure.The ranking is a tool to identify sectors and indicator specific challenges.

INTERNATIONAL UPDATES:

1. Agriculture JWG between Gujarat and Israel : Gujarat CM Vijay Rupani and Israel’s Agriculture and Rural Development Minister Uri Ariel and announced a joint working group in the fields of agriculture and allied sectors.The initiative is taken as a step to double the farmers’ income by 2022.This Agriculture Plan would also explore opportunities for using the hi-tech protective cultivation and precision farming methods of Israe

2. Mumbai is 5th-least punctual airport : ReportAccording to the British aviation intelligence firm OAG, Mumbai is the fifth-least punctual airport in the world in terms of on-time performance out of 513 airports.Japan’s Nagoya Komaki airport was ranked the best with 94.5% on-time performance during the 12-month period.

The top Indian airport on the list was Port Blair, which recorded 84.6 per cent on-time performance and ranked 65.

OTHER UPDATES:

BUSINESS/ECONOMY:

1. Fiscal deficit hits 55% due to higher capex : The Centre’s fiscal deficit for the first two months of the fiscal year 2018-19 stood at Rs 3.45 trillion, this is a sign of growing economy.The fiscal deficit target for 2018-19 is Rs 6.24 trillion, or 3.3 percent of the gross domestic product.The difference between total revenue and total expenditure of the government is termed as fiscal deficit.

2. Kerala govt signs MoU with Nissan : A Memorandum of Understanding (MoU) signed between the Kerala government and Nissan officials to boost digital operations.The first phase of the digital hub will come up over 30 acres of land in Technocity, 20 kilometres outside Thiruvananthapuram.The company is looking at providing 500 direct jobs by the end of April 2019 with indirect employment for software development

BANKING/FINANCE:

1. World Bank: Maha most vulnerable to climate : Maharashtra is among the states where people’s standards of living are most vulnerable to climate change, says a World Bank study released, titled “South Asia’s Hotspots”.The study projects that India could shave off 2.8% of GDP by 2050 if greenhouse gas emissions continue unmitigated.Many districts will see 9% – 11% decline in standards of living with Chandrapur district topping at 12.4%

SPORTS:

1. Dutee Chand sets new national record in 100m : Dutee Chand broke her 100m national record at 58th National Inter-State Senior Athletics Championships at Guwahati.The 22-year-old Dutee, representing Odisha, ran 11.29 sec in the semifinal race to better her national record of 11.30sec and later clinched the gold in 11.32sec.She has already qualified the 2018 Asian games which will be held in Jakarta and Palembang.

Daily GK Updates - 29th June, 2018

NATIONAL UPDATES:

1.Pipeline across Maha Prosperity Corridor : Union Minister for Petroleum and Natural Gas Dharmendra Pradhan has proposed setting up a natural gas pipeline along the Maharashtra Prosperity Corridor.The corridor will be an eight-lane 701-km hi-speed super communication expressway between Nagpur and Mumbai.The Rs 46,000 crore project is being planned to boost agro-industries and port-led developments in the state.

2. Kiran Mazumdar Shaw elected to MIT board : India’s biotech queen Kiran Mazumdar Shaw has been elected as a full-term member of the Board of Trustees of the Massachusetts Institute of Technology (MIT).Shaw is also ranked among the world’s most influential people in bio-pharma by Forbes magazine.Shaw was elected a foreign member of the Royal Swedish Academy of Engineering Sciences in 2006.

3. MP to be awarded for reducing MMR : Madhya Pradesh will be awarded for reducing maternal mortality under Prime Minister’s Safe Motherhood Campaign.An unprecedented 48-digit decline in maternal deaths in Madhya Pradesh has been registered.The maternal mortality rate was 221 in the year 2011-13, which has now dropped down further to just 173.

4. World’s 1st medicine made from marijuana : Epidolex is the world’s first medicine made from marijuana.The drug does not cause intoxication or a high and is approved by US FDA.

It is created by GW Pharmaceuticals. It is an oral solution of cannabidiol (OSC) will be used to cure severe forms of epilepsies in children.The New England Journal of Medicine had first provided the evidence that marijuana can cure epilepsy.

5. National Centre at AIIMS : Prime Minister Narendra Modi today laid the foundation stone for the National Centre for AIIMS in New Delhi.The Multi-Speciality healthcare will have 200 general ward beds.Mr Modi also inaugurated the 555 bed Super Speciality Block in Safdarjung Hospital.Mr Modi inaugurated the Connection Motorable Tunnel between AIIMS, Ansari Nagar and Trauma Centre.

6. 1st government blockchain centre in Hyderabad : The Centre has decided to set up a Centre of Excellence for blockchain technology in Hyderabad to drive innovation.The Centre of Excellence proposed to come up at C-DAC’s Hyderabad unit.The plan is to use blockchain technology to digitise and secure land records for Telangana.ICICI Bank was the first to execute transactions using Blockchain technology.

INTERNATIONAL UPDATES:

1. Putin-Trump summit in Helsinki on July 16 : U.S. President Donald Trump and Russian President Vladimir Putin will hold their 1st summit on July 16 in Helsinki, Finland.The 2 leaders will discuss relations between US and Russia and a range of national security issues.It meeting would also entail high-level talks on US sanctions on Russia and Russia’s rejoining the Group of Seven industrialised countries to make it the G8 again.

2. Mount Agung volcano erupts in Bali : Bali closed its international airport Friday after Mount Agung volcano began spewing volcanic ash and vapor higher than two kilometers (6,500 feet) into the air.Over 300 flights have been canceled, according to airport authorities, impacting the travel plans of thousands of people.Indonesia is the world’s most active volcanic region and lies on the Pacific “Ring of Fir.

3. N Korea:’worst human trafficking country’ : According to the annual ‘2018 Trafficking in Persons Report’, North Korea has been ranked as worst human trafficking country in the world, along with China, Russia and Iran.The report said that the North Korean govt continued to use forced labour in prison camps.South Korea has been ranked at the highest category for the 16th consecutive year, along with US, UK, France and Canada

OTHER UPDATES:

BANKING/FINANCE:

1. ICICI Bank gets new part-time chairman : ICICI Bank has appointed former bureaucrat Girish Chandra Chaturvedi as its non-executive part-time chairman.

Chaturvedi is a 1977-batch IAS officer, who retired as the Oil Secretary in January 2013.The term of M K Sharma, the current chairman of ICICI Bank, ends on June 30.

2. Indian money in Swiss banks rises 50% : Money parked by Indians in Swiss banks rose over 50% to Swiss Francs (CHF) 1.01 billion (₹7,000 crore) in 2017, reversing a three-year downward trend.The surge comes as a surprise given India’s continuing clampdown on suspected black money stashed abroad.The Indian money in Swiss banks had fallen by 45% in 2016, marking their biggest ever yearly plunge.

Daily GK Updates - 28th June, 2018

NATIONAL UPDATES:

1. Fourth National Consultation of Ministers : The fourth National Consultation Meeting of Ministers of States & UTs, in-charge of Food, Civil Supplies and Consumer Affairs is being held on 29th June 2018 in New Delhi.The meeting will be chaired by Shri Ram Vilas Paswan, Union Minister of Consumer Affairs.The consultation will be on measures for improving consumer protection and welfare including Public Distribution System etc.

2. India votes against the draft at OPCW meet : India has voted against the draft addressing the threat from chemical weapons use at a conference of the Organisation for the Prohibition of Chemical Weapons (OPCW).The conference has been called by the UK, the US & the West to have discussions on upholding the global ban against the use of chemical weapons.India’s Ambassador and Permanent Representative to the OPCW is Venu Rajamony.

3. National Statistics Day on 29th June : Vice President Venkaiah Naidu will attend the closing ceremony of the 125th birth anniversary of Professor P. C. Mahalanobis on Statistics Day on 29th June.The theme of 2018 is – Quality Assurance in Official Statistics.The objective of the celebration is to create public awareness about statistics in socio-economic planning, to acknowledge the contribution of Prof. Mahalanobis.

4. Sagarmala receives Gold Award at Skoch Summit : The Ministry of Shipping’s flagship programme for port-led-prosperity ‘Sagarmala’ received the ‘Gold Award’ at 52nd Skoch Summit 2018 in New Delhi.The Skoch Awards recognize leadership and excellence in accelerating socio-economic changes.Sagarmala is the programme of govt for port-led-development of the country through harnessing 7,500 km long coastline, 14,500 km of navigable waterways.

INTERNATIONAL UPDATES:

1. Caninet approves MoU with Denmark : The Cabinet gave approval for the memorandum of understanding (MoU) between India and Denmark in the field of animal husbandry and dairy.Under this, a joint working group consisting of representatives from both the countries will be created to formulate joint programmes.This will facilitate the exchange of knowledge & expertise in the areas of animal breeding, animal health.

2. India signed JDI with Germany in Aviation : The Cabinet signed a Joint Declaration of Intent (JDI) between India and Germany on Cooperation in the field of Civil Aviation.The Declaration will lead to the promotion of the effective and efficient development of air transport between India and Germany.It would cover Aviation Safety and Air Traffic Management, Helicopter Emergency Medical Services and Training and Skills Development.

3. U.S. postpones 2+2 dialogue with India : US has postponed its inaugural 2+2 dialogue with India, citing “unavoidable reasons”.The dialogue was to be held on July 6, Sushma Swaraj and Nirmala Sitharaman were to take part in the meeting with US secretary of state Michael Pompeo and secretary of defence James Mattis.The meeting was expected to focus on strengthening strategic, security, and defence cooperation.

4. Cabinet approves MoU between India & Singapore : Union Cabinet has given its nod to a Memorandum of Understanding between India & Singapore for cooperation in urban planning and development.The agreement will facilitate government agencies to tap into expertise offered by Singaporean agencies in urban development and management.MoU aims is to facilitate government bodies like municipal corporations to help in rejuvenation of urban areas.

OTHER UPDATES:

BANKING/FINANCE:

1. RBL Bank raise stakes in SFPL to 100% : RBL Bank has fully acquired Mumbai-based microlender firm Swadhaar FinServe Pvt Ltd (SPFL)where it had 60.49% holding earlier.SFPL operates 331 branches across 16 states and two union territories and has an AUM (Assets under management) of around Rs 2,000 crore and reaches 750,000 customers.SFPL distributes loans and savings products, to low-income households and microenterprises.

Daily GK Updates - 27th June, 2018

NATIONAL UPDATES:

1.President launched the Solar Charkha Mission : President, Ram Nath Kovind launched the Solar Charkha Mission which will cover 50 clusters and employ 400 to 2000 artisans.A portal of the Ministry of MSME called “Sampark” was also unveiled by the President.“Udyam Sangam” is a step forward towards consolidating synergy of all the govt initiatives relating to MSME Sector.

2. Oxytocin formulations ban from 1st July 2018 : The Ministry of Health and Family Welfare has restricted the manufacture of Oxytocin formulations for domestic use to public sector only from 1st July 2018.Only Karnataka Antibiotics & Pharmaceuticals Ltd (KAPL), a public sector company, would be manufacturing this drug for domestic use.Oxytocin helps with birth & milk production not only in humans but also in cattle such as buffalo, cows.

3. S Ramesh appointed as Chairman of CBIC : S Ramesh has been appointed as Chairman of the Central Board of Indirect Taxes and Customs (CBIC), the apex policy-making body for indirect taxes.Ramesh, an officer of the Indian Revenue Service had mandated with the responsibility of implementing the Goods and Services Tax (GST).The CBIC, which works under the Finance Ministry, is headed by a Chairman and can has 6 members.

4. Jai Hind 1-S: World’s lightest satellite : Four students of Chennai build the world’s lightest and cheapest satellite weighing just 33.39 grams.The name of the satellite is ‘Jai Hind 1-S’ and would be launched in August 2018.It analyses data  like temperature, UV density and vapour pressure, at various points of the satellite’s upward journey. This will help in research and the better understanding of the environment in outer space.

5. ISRO to find nuclear fuel on moon : Indian Space Research Organisation (ISRO) will launch a rover in October 2018 through Chandrayaan 2 to explore virgin territory on the lunar surface & analyze crust samples for signs of water & helium-3.The isotope is abundant on the moon and could meet global energy demands for 250 years.The rover is powered by solar energy & will collect information for 14 days on the surface of the moon

6. EAM Sushma Swaraj launched Passport Seva app : External Affairs Minister Sushma Swaraj launched Mobile Passport Application on the occasion of 6th Passport Seva Divas on 26 June 2018 in New Delhi.Through mPassportSeva app, people can apply for a passport from any part of the country.Police verification will be done on the address, provided by the applicant on the app, another step towards simplification of passport service to people.

INTERNATIONAL UPDATES:

1. Haddad and Nabarro win World Food Prize : Lawrence Haddad and David Nabarro win 2018 World Food Prize.The World Food Prize was created by Nobel Peace Prize laureate Norman Borlaug in 1986 to recognize scientists and others who have improved the quality and availability of food.The two men who have worked to provide availability of nutritious food for pregnant women and children to reduce malnutrition in developing countries.

2. British Queen approves Brexit law : Britain’s Queen Elizabeth granted royal assent to Prime Minister Theresa May’s Brexit legislation on 26th June.The debate over the legislation will formally end the country’s European Union membership.The E.U. (Withdrawal) Bill would repeal the 1972 European Communities Act through which Britain had become a member of EU.The Brexit day in British law slated as March 29, 2019.

3. China to cut tariffs on soybean from India : China will cut import tariffs on soybean and some other goods from India and four other Asian nations from July 1.China will reduce tariffs on soybean imported from India, South Korea, Bangladesh, Laos, and Sri Lanka from 3% to zero.This comes as a step to escalate ongoing trade war as the US is a major supplier of soybeans to China.

4. US Ambassador to UN Nikki Haley visits India : US Ambassador to the UN, Nikki Haley is on a 2-day visit to India.Haley will meet with senior Indian government officials, NGO leaders, and the interfaith community to underscore the United States’ shared values and a strong alliance with the people of India.She is the first Indian-American to serve in a Cabinet-level position in any US presidential administration.

OTHER UPDATES:

BUSINESS/ECONOMY:

1. India records highest number of IPOs globally : Indian exchanges recorded the highest IPO activity as the country saw 90 IPO launches that raised $3.9 billion.The exchanges account for 16% of the total issues in the first half of 2018.Out of 90 deals that listed, 15 listed both on NSE & BSE result in 93% of the total proceeds.The financial sector, infrastructure and consumer companies with strong growth continue to boost IPO activity.

BANKING/FINANCE:

1. PSB’s account for 85% of bank fraud cases : Public Sector Banks accounted for a staggering 85% of nearly 6,500 fraud cases, amounting to more than Rs 30,000 Cr.Top 10 banking frauds in 2018 alone lead to a financial loss of Rs 10,000 Cr. Banks had reported nearly 5,000 frauds amounting to Rs 20,000 Cr in the fiscal year 2017.The PSB’s have a disproportionate share of over 85%, exceeding their business share of about 65% to 75%.

2. DBS Bank to launch subsidiary in India : DBS Bank of Singapore will launch its subsidiary in India in Oct 2018, the 2nd foreign bank in the country to convert its local operations.The bank has invested another Rs 500 Cr in March 2018 to take the total capital in India to Rs 5000 Cr and plans to expand to 50 branches.State Bank of Mauritius was the 1st to open a local subsidiary after RBI came out with the regulations in 2013.

Daily GK Updates - 26th June, 2018

NATIONAL UPDATES:

1. BRO opens bridge from Leh to Siachen : The Border Roads Organisation (BRO) on opened a vital 35-meter bridge in Ladakh region of Jammu and Kashmir that will ease vehicular movement to the base camp of Siachen Glacier, the world’s highest battlefield.The 35-meter long ‘Chamesahn’ bridge is under Project HIMANK.The BRO develops road networks in border areas & maintains over 32,885 km of roads & 12,200 m of bridges.

2. MSME Day to be celebrated on 27th June 2018 : The Ministry of Micro Small & Medium Enterprises (MSME), will organize a National Conclave (UdyamSangam) on 27th June 2018 on the occasion of UN MSME Day.President Kovind will inaugurate the Conclave in Vigyan Bhawan.The MSME Ministry will disburse subsidy of Rs. 550 crores to artisans.The UN declared 27th June as MSME Day, recognizing the importance of MSME in the country’s economy.

3. Ministry of Health signs MoU with IGNOU : Health Ministry has inked a Memorandum of Understanding (MoU) with the Indira Gandhi National Open University (IGNOU) to scale-up short-term healthcare courses and produce over 14 lakh trained manpower by 2025.The signing of MoU is under the existing framework of ‘Skills for Life, Save a Life’ initiative.The ministry will provide for financial assistance to IGNOU for initiating programmes.

4. Telangana allocates 15 Cr for Bonalu festival : Telangana Chief Minister K. Chandrashekhar Rao instructed officials to release Rs. 15 crore for organising Bonalu festival.Bonalu is an annual festival of Telangana celebrated in twin cities Hyderabad and Secunderabad and other parts of Telangana. It is celebrated in the month of Ashada Masam, in July/August.The current governor of Telangana is E. S. L. Narasimhan.

5. India’s first ‘Tribal Queen’ : Pallavi DaruaPallavi Durua, who belongs to Odisha’s Koraput district, was crowned as the first Tribal Queen at the Adi Rani Kalinga Tribal Queen competition held at Utkal Mandap.The contest was organised by SC & ST department, Govt of Odisha and the State Tourism Department.Tribal population constitutes nearly 22.5% of the Odisha’s population.

6. Govt proposes to set up 3,000 Van Dhan Kendras : The government has proposed to set up 3,000 Van Dhan Kendras involving 30,000 self-help groups across the country under the Van Dhan Scheme.It aims to skill up-gradation and capacity building training for value addition of forest produce.Van Dhan Mission is an initiative for targeting livelihood generation for tribals by harnessing non-timber forest produces.

INTERNATIONAL UPDATES:

1. NASA’s Webb Telescope to study Great Red Spot : NASA’s James Webb Space Telescope will use infrared capabilities to study Jupiter’s Great Red Spot.The plan is to use Webb’s mid-infrared instrument (MIRI) to create multispectral maps of the Great Red Spot and analyse its thermal, chemical and cloud structures.The Great Red Spot is a storm has been monitored since 1830 and has existed for more than 350 years.

2. India-US 2+2 Dialogue : External Affairs Minister Sushma Swaraj and Defence Minister Nirmala Sitharaman will hold talks with their American counterparts Mike Pompeo and James Mattis.The maiden India-US 2+2 Dialogue will be held on July 6, 2018.The key issues that would be discussed would include counterterrorism, cybersecurity, defence cooperation, and regional security.

3. India and Seychelles signed 6 agreements : India and Seychelles signed six MoUs in areas of naval cooperation, cybersecurity, culture, development projects.India extended a line of credit worth 100 million USD for Seychelles.India would also provide special grants in civilian infrastructure projects and enhance defence and maritime capabilities.PM also handed over a replica of Dornier Aircraft to President of Seychelles.

4. International Day against Drug Abuse : International Day against Drug Abuse and Illicit Trafficking is observed every year on 26 June to strengthen global action to achieve the goal of an international society free of drug abuse.The theme for the 2018 year is: “Listen First – Listening to children and youth is the first step to help them grow healthy and safe.”This day was first observed by the UN General Assembly in 1987.

OTHER UPDATES:

BUSINESS/ECONOMY:

1.NIIF to roll out $2 billion fund : The National Infrastructure and Investment Fund (NIIF) unveiled a $2-billion long-term fund to finance megaprojects.The NIIF already has 2 operational funds – the NIIF master fund that invests directly in companies & a fund of funds that invests in funds that are managed by 3rd parties.The 3rd fund would cater to India’s long-term infra needs.NIIF’s MD and CEO is Sujoy Bose.

SPORTS:

1. Lewis Hamilton won French Grand Prix 2018 : Lewis Hamilton reclaimed the world championship lead with a victory in the French Grand Prix 2018.Lewis Carl Davidson Hamilton MBE (born 7 January 1985) is a British racing driver who races in Formula One for Mercedes AMG Petronas.The Mercedes driver led from start to finish other than one lap around his pit stop to move 14 points ahead of Ferrari’s Sebastian Vettel, who finished fifth.

Daily GK Updates - 25th June, 2018

NATIONAL UPDATES:

1. Delhi HC orders halt on cutting 17000 trees : A controversial project that requires the cutting of 17,000 trees in Delhi.The NBCC also deposited Rs. 8 crores with the tree authority of the Delhi government for permission to cut trees.Petitioner KK Mishra, asks the court to stop the central government project to cut thousands of trees for the redevelopment of 7 colonies in south Delhi.HC halts the cutting of trees till July 4 2018.

2. Haryana makes LED bulbs mandatory in offices : The use of LED bulbs and tube lights has been made mandatory in all offices of Haryana.In this direction, Head of Departments and Managing Directors of Boards, Corporations, and Public Undertakings have been directed to replace lighting with LED lamps or tube lights by August 15.These halogen & sodium bulbs will be replaced with energy-efficient LED bulbs and tube lights.

3. No toilet, no bride’ resolution in Haryana : Haryana village – Godikan has passed ‘No toilet, no bride’resolution.The village apparently was inspired by the super hit Hindi movie starring Akshay Kumar – ‘Toilet-Ek Prem Katha’.The resolution is aimed at ensuring the security of their daughters in addition to hygiene.Godikan has already been declared an Outdoor Defecation Free (ODF) panchayat.

4. National Awards for Prevention on Drug Abuse : President Kovind will present the 4th “National Awards for outstanding services in the field of Prevention of Alcoholism and Substance (Drug) Abuse” on the occasion of ‘International Day against Drug Abuse and Illicit Trafficking’ on 26th June.The function organized by the Ministry of Social Justice and Empowerment in New Delhi.The Awards were started in 2013 and conferred biennially.

5. Sindhu Darshan Festival begins in Ladakh : The 3-day annual 22nd Sindhu Darshan Festival will be celebrated on the bank of Indus River in Ladakh region of J&K.

The Festival organised by Sindhu Darshan Yatra Samiti & will be inaugurated by RSS General Secretary Bhaiya Ji.The programme is focused on national integration, communal harmony, and national pride.It was started by the former Deputy Prime Minister L K Advani in 1997.

6.IIFA Awards 2018 : Indian International Film Awards (IIFA), held in Bangkok, late star Sridevi won Best Actress (posthumously) for MOM.Irrfan Khan was given the Best Actor Award for Hindi Medium.Vidya Balan’s Tumhari Sulu was awarded the Best Film trophy.Saket Chaudhary was awarded the Best Director for Hindi Medium.Anupam Kher was awarded Outstanding Achievement by an Actor in Indian Cinema.

INTERNATIONAL UPDATES:

1. India cuts export quotas for Maldives : India has lowered the limits on the export of certain essential commodities such as potatoes, onions, and eggs to the Maldives.According to a bilateral pact that came into effect in 1981, India exports essential commodities in line with the requirement as communicated by the govt of Maldives.Maldives was lowered to 9,892.03 MT for 2018-19 compared with the 10,259.59 MT exported in 2017-18.

2. President Tayyip Erdogan returns to power : President Tayyip Erdogan of Justice and Development Party has declared victory in Turkey’s Presidential election.He was earlier President and Prime Minister of Turkey for 15 years. He has now become first executive President of the country.He has secured a majority of 52.5% against Muharrem Ince, of the opposition Republican People’s Party (CHP), received 30.8% of the votes.

OTHER UPDATES:

BUSINESS/ECONOMY:

1. Sanjay Kumar quits Indigo : IndiGo’s Chief Commercial Officer Sanjay Kumar resigns from the office.S. Kumar has been associated with the organisation from past 12 years.His resignation would be effective from July 15. Willam Boulter, the current Chief Strategy Officer, would be taking over from him.Interglobe Aviation is the parent company of Indigo.

2. FIU forwarded highest over 65K in FY18 : The Financial Intelligence Unit-India (FIU), the government agency mandated on terrorist financing and money laundering, has forwarded 65,829 Suspicious Transactions Reports (STRs) during FY18 — the highest in the history.This number was over 13% higher than the record 58,223 STRs in FY17.The spurt in the number of STRs is initiated under FEMA (Foreign Exchange Management Act), 1999.

BANKING/FINANCE:

1. India is the largest borrower from AIIB : With the total project portfolios of US$4.4 Billion, India has been the largest borrower of Asian Infrastructure Investment Bank (AIIB) since the time the Bank started its operations.The report was released in 3rd AIIB Meet 2018 in Mumbai whose focus was on infrastructure , innovation  collaboration.AIIB has committed to provide $200 million for road & energy infrastructure to India.

SPORTS:

1. Sejwal won gold at Singapore Championships : Indian swimmer Sandeep Sejwal put up an impressive performance to clinch the gold medal in men’s 50m breaststroke event at the Singapore National Swimming Championships in Singapore.Sandeep broke the Singapore meet record with a timing of 27:59 sec to win the gold. He bettered his own time of 27.68 seconds in the semi-final by 0.09 sec.The SCNS was organized between 20 to 23rd June 2018.

2. Mandeep Jangra won gold at Ulaanbaatar Cup : Mandeep Jangra has won the boxing gold at the Ulaanbaatar Cup 2018 in Mongolia.The Indian contingent amassed a total of 9 medals – 1 gold, 4 silver, and 4 bronze medals.Himanshu Sharma and Sonia Lather won the silver medal in their respective events.Mandeep Jangra earlier had won Commonwealth Games silver medal in 2014.

3. Deepika won gold at Salt Lake World Cup : Archer Deepika Kumari won her first individual gold medal in six years at the Salt Lake World Cup following a 7-3 win over Germany’s Michelle Kroppen in the recurve final.The last time she won at a stage event on the international circuit goes back to Antalya in 2012.She had won a gold medal in the 2010 Commonwealth games in the women’s individual recurve event.

Daily GK Updates - 24th June, 2018

NATIONAL UPDATES:

1. Modi inaugurates Mundka-Bahadurgarh Metro link : Prime Minister Modi inaugurated the Mundka-Bahardurgarh metro network through a digital video link between PMO and Bahadurgarh.With the opening of the 11.2km Mundka-Bahadurgarh stretch of Green Line, Delhi Metro makes its third foray into Haryana, connecting Bahadurgarh to the heart of Delhi.With the opening of this section, Delhi Metro network will expand to 288 km with 208 station.

2. Panel to lay down standards for metro systems : Prime Minister Narendra Modi has approved the proposal of setting up of a committee to lay down standards for metro rail systems in India.The committee will be headed by retired Indian Engineering Service (IES) officer E Sreedharan, also known as “Metro Man”. Sreedharan served as the managing director of Delhi Metro between 1995 and 2012.

3. Chief Minister of the Year’ award : Rajasthan Chief Minister Vasundhara Raje was conferred the ‘Chief Minister of the Year’ award for her remarkable work in e-governance.The award was given to her at the 52^nd Skoch Summit held in New Delhi.Efforts of the chief minister and state government were appreciated in implementing the prime minister’s Digital India campaign for benefitting the common man.

4. Kalki to be conferred with French honour : Kalki Koechlin will be conferred with French distinction of Knight of the Order of Arts and Letters for her contribution in enhancing Indo-French ties in cinema.Kalki, who has French roots, has done films such as Dev.D, Zindagi Na Milegi Dobara & Shanghai to name a few.The honour comes in recognition of an actor, who has interpreted striking roles in the Indian film industry.

5. SKY Scheme for farmers to generate solar power : The Gujarat government has launched a solar power scheme for farmers – Suryashakti Kisan Yojana (SKY).

Under the scheme farmers would not only be able to generate electricity for their captive consumption but will also be able to sell the surplus power to the grid and earn an extra buck.The extra electricity given to grid would be purchased at a rate of Rs7 per unit for a period of 7 years.

6. Ramdev to get wax statue at Madame Tussauds : Baba Ramdev will soon have a wax replica at the Madame Tussauds museum of London.Baba Ramdev will be the second saint to be depicted at the notable wax museum after Swami Vivekanand.Madame Tussauds is a major tourist attraction in London, displaying the waxworks of famous and historic people and also popular film characters.

7. 24°C as the default setting for ACs : Power Ministry has suggested air-conditioner manufacturers to keep default setting at 24°C in a bid to save energy.It has also suggested that manufacturers should carry out labelling indicating optimum temperature setting for benefit of consumers, both from financial & health point of view.Having a default setting at 24°C will result in savings of 20 billion units of electricity in a year.

INTERNATIONAL UPDATES:

1. Navy chief Admiral Lanba to visit Bangladesh : Chief of the Naval Staff Admiral Lanba will be on a five day goodwill visit to Bangladesh.The visit is aimed at consolidating bilateral defence relations between India and Bangladesh and to explore new avenues for naval cooperation.The Admiral Lanba will inaugurate the first edition of Indian Navy-Bangladesh Navy Coordinated Patrol (CORPAT).

2. US and South Korea suspend training exercises : The United States and South Korea have agreed to indefinitely suspend two exchange program training exercises.The announcement comes on the heels of the summit in Singapore between President Trump and North Korean leader Kim Jong Un.Freedom Guardian along with two Korean Marine Exchange Program training exercises have been suspended.

OTHER UPDATES:

BANKING/FINANACE:

1.Bank heads to appear before parliament panel : Heads of 11-state owned banks will apprise a parliamentary committee about the problems of mounting bad loans and increasing fraud cases.They will be appearing before the standing committee on finance, headed by veteran Congress leader M. Veerappa Moily, which is looking into issues relating to banking sector.The rising number of frauds and NPAs have become a serious cause of concern.

SPORTS:

1. Amit wins gold at World Para Athletics : India’s Amit Kumar Saroha has clinched the gold medal in the men’s club throw F51 event at the World Para Athletics Grand Prix in Tunisia.The wheelchair-bound Indian athlete produced the season’s best performance of 29.42m to bag the gold.Amit Saroha is an Asian Para Games medalist and an Arjuna Awardee, competing in the F51 category in Discus throw and Club throw.

2. Sunil Mittal becomes honorary chairman of ICC : Sunil Bharti Mittal, Founder & Chairman of Bharti Enterprises, will step down as the Chairman of International Chamber of Commerce.He will now function as the Honorary Chairman of ICC commencing July 1, 2018.He will be succeeded by Paul Polman, CEO of Unilever, as ICC Chairman.Mittal was only the 3^rd Indian to have been appointed the chairman of the ICC since it was constituted in 1919.

3. Second Youngest Chess Grandmaster : R Praggnanandhaa made history by becoming the 2^nd youngest chess grandmaster in the world by earning his 3^rd GM norm during Gredine Open.Praggnanandhaa who is just 12 years, 10 months and 14 days old is also the youngest Indian Grandmaster.Ukraine’s Serget Karjakin remains the youngest ever Grandmaster.Viswanathan Anand, India’s first ever GM, was 18 years old when he earned his 3^rd norm.