Daily GK Updates - 1st January, 2019

NATIONAL UPDATES:

1.Justice T B N Radhakrishnan sworn in as Chief Justice of Telangana HC : Justice T B N Radhakrishnan was sworn in as the first Chief Justice of the Telangana High Court. Telangana and Andhra Pradesh Governor E.S.L. Narasimhanadministered the oath of office to him. As per the notification, 12 judges, over 360 district and civil judges have been allotted to the new Telangana state. Andhra Pradesh High Court got over 500 district and civil judges as the two high courts began functioning as separate entities today onwards.

2. 1^st January: DRDO day : The Defence Research and Development Organisation (DRDO) day celebrated on 1^st January every year. The DRDO was established in 1958 with just 10 laboratories to enhance the research work in the defence sector. According to DRDO Chairman Dr G Satheesh Reddy, the country is self-reliant in areas of missiles, radars, sonars and torpedoes and many other systems. The Organisation has been working over the years to develop state of the art weapon system for the country's armed forces.

3.ISRO launches Samwad with students to engage them in space science activities :  Indian Space Research Organisation (ISRO) has launched Samwad with Students as part of its outreach programme in Bengaluru. 40 students and 10 teachers from select schools interacted with ISRO Chairman Dr. K Sivan about the Indian Space Programme and their benefits to the common man. During the three-hour stay at ISRO Head office, the students and teachers also interacted with scientists and engineers.

4.Govt approves additional assistance of over Rs 1,146 cr to Tamil Nadu : The Union Government has approved the additional assistance of over 1146 crore rupees to Tamil Nadu (affected by the cyclone - Gaja) from National Disaster Response Fund. The approval was given by a High-Level Committee chaired by Home Minister Rajnath Singh in New Delhi. Cyclone 'Gaja' had crossed the Tamil Nadu coast early on 16^th November 2018.

5.Lok Sabha passes the Indian Medical Council (Amendment), Bill : The Lok Sabha has passed the Indian Medical Council (Amendment) Bill. It amends the Indian Medical Council Act, 1956 and replaces the Indian Medical Council (Amendment) Ordinance, 2018. The Bill is aimed at revamping medical education regulatory system in the country. The 1956 Act provides for supersession of the MCI and its reconstitution within a period of three years.

INTERNATIONAL UPDATES:

1.US and Israel quit UNESCO citing bias : The United States (US) and Israel officially quit the United Nations Educational, Scientific and Cultural Organization (UNESCO) with the close of 2018.In 2017, The countries had announced their decisions in of withdrawing from the agency, accusing it of bias against Israel. It is best known for its World Heritage program, which designates cultural sites and aims to preserve traditions.UNESCO also works to improve education for girls, promote understanding of the Holocaust's horrors, and to defend media freedom.

OTHER UPDATES:

BANKING/FINANCE:

1.RBI offers relief to MSMEs : allows restructuring of debt up to Rs 25 crore The Reserve Bank has allowed a one-time restructuring of existing debt of up to 25 crore rupees for the companies which have defaulted on payment but the loans given to them have continued to be classified as standard assets. The decision will help the micro, small and medium enterprises (MSMEs) which are facing a cash crunch in the wake of demonetisation and GST implementation. Earlier, The RBI's board had advised the central bank to examine a scheme for the restructuring of stressed standard assets of MSME borrowers with aggregate credit facilities of up to 25 crore rupees.

BUSINESS/ECONOMY:

1. 23 goods and services become cheaper with reduced GST rates : The Union government has notified reduction in Goods and Services Tax (GST) rates on twenty-three goods and services, including movie tickets, TV, monitor screen and power banks On 22nd December 2018, The GST Council had decided to cut tax rates on these goods and services and exempted music books, preserved vegetables and savings bank accounts under the Jan Dhan Yojana from the Tax.

OBITUARIES:

1.  Veteran actor-writer Kader Khan passes away in Canada : Veteran actor-writer Kader Khan (81-year) passed away in Canada due to prolonged illness. Khan made his acting debut in 1973 with Rajesh Khanna's "Daag" and has featured in over 300 films. He wrote dialogues for over 250 movies. Before becoming actor he had written dialogues for Randhir Kapoor-Jaya Bachchan's "Jawani Diwani"