Daily GK Updates - 23rd March, 2019

NATIONAL UPDATES:

1. SpiceJet becomes first Indian low-cost airline to join IATA :  SpiceJet has joined global airlines’ grouping International Air Transport Association (IATA) as a member, becoming the first Indian low-cost carrier to get the membership. The IATA represents more than 290 airlines, including Air India, Jet Airways and Vistara.The IATA membership is significant on account of SpiceJet’s plans for rapidly expanding its international footprint. SpiceJet is the first Indian low-cost carrier to be an IATA member and fifth member of IATA in India.

2. Indian Air Force to participate in ‘LIMA 2019’ : Indian Air Force will participate in Langkawi International Maritime Aero Expo ‘LIMA 2019’ in Langkawi, Malaysia (26th to 30th March 2019). Indian Air Force is participating in the Expo for the first time and it will showcase its indigenously developed LCA fighter aircraft. It will provide an opportunity to air-warriors to interact with their Royal Malaysian Air Force counterparts and foster close relationship between the two services. This will also serve as a foundation for any future interaction with the Malaysian Air Force.

3. Indian Statistical Institute presents a report on VVPAT sample size to EC : Indian Statistical Institute presented its report on the sample size of Voter Verifiable Paper Audit Trail (VVPAT) slip counting to the Chief Election Commissioner Sunil Arora. According to the commission, it had engaged the Indian Statistical Institute to systematically analyse and scientifically examine the issue of VVPAT Slip verification with an electronic count of the Electronic Voting Machines. The report submitted by the expert committee will now be examined by the Commission.

INTERNATIONAL UPDATES:

1.World Meteorological day :  The United Nations' (UN) World Meteorological Day is annually held on or around 23rd March to remember the World Meteorological Organization's establishment on that date in 1950. The theme of WMD 2019 is ‘The Sun, the Earth and the Weather’.

2. Finland tops Global Happiness Index for the second straight year :  As per UN World Happiness Report, Finland has been ranked tops as the happiest country in the world for the second year. The report was released by the Sustainable Development Solutions Network for the United Nations on March 20 which was declared as World Happiness Day by the UN General Assembly in 2012. Indian figures at 140^th place(seven spots down from last year) on this year's UN World Happiness Report.The report ranks countries on six key variables that support well-being: income, freedom, trust, healthy life expectancy, social support and generosity.

3. Google unveils Stadia:a video-game streaming platform :  Google unveiled a video-game streaming platform ‘Stadia’, positioning itself to take on the traditional video-game business. The platform will store a game-playing session in the cloud and lets players jump across devices operating on Google's Chrome browser and Chrome OS, such as Pixel phones and Chromebooks. Google made the announcement at the Game Developers Conference in San Francisco.

OTHER UPDATES:

BUSINESS/ECONOMY:

1. Fitch cuts India GDP growth forecast for FY20 to 6.8% :  According to Credit rating agency ‘Fitch’, India’s economic growth forecast for the next financial year starting April 1, to 6.8% from its previous estimate of 7%. Fitch Ratings cut India’s FY19 GDP growth forecast to 7.2% from 7.8% on December 6. The rating agency has also cut growth forecasts for FY20 and FY21 to 7% from 7.3% and 7.1 per cent from 7.3%, respectively.

BANKING/FINANCE:

1. SBI inks pact with Bank of China :  The State bank of India (SBI) has signed a pact with the Bank of China (BoC) to boost business opportunities. Through this pact, both SBI and BoC will gain direct access to their respective markets of operation. Both banks’ clients will be able to use the vast combined network to expand their businesses abroad. According to SBI, it has a branch in Shanghai and BoC is opening its branch in Mumbai.

SPORTS:

 1. Indian Premier League-12 to kick off in Chennai : The Indian Premier League (12th- edition) has begun with Defending Champions Chennai Super Kings (CSK) led by Mahindra Singh Dhoni and Royal Challengers Bangalore (RCB) led by Virat Kohli in the season's opening clash at M. A. Chidambaram Stadium, Chennai.A total of eight teams will be playing in IPL 2019 (like the last edition). The teams are Chennai Super Kings, Delhi Capitals, Kings XI Punjab, Kolkata Knight Riders, Mumbai Indians, Rajasthan Royals, Royal Challengers Bangalore and Sunrisers Hyderabad.The former franchise of 'Delhi Daredevils’ was renamed to 'Delhi Capitals’ for the new season.

2. Sultan Azlan Shah Cup 2019 Men's Hockey tournament begins in Ipoh : The Sultan of Azlan Shah Cup Men's Hockey tournament(28th edition) has begun in Ipoh, Malaysia (23rdto 30th March 2019). Indian men's hockey team take on Japan (Asian Games gold medallist) in their opening encounter. Six nations (Malaysia, Canada, Poland, Japan and Korea) are taking part in the 8-day tournament which will be held in a round-robin format Australia (defending champions) is not playing in this edition of the tournament.

3.  FIFA bans former Ecuador football chief for life :  FIFA slapped a lifetime ban on the disgraced former head of Ecuador's football federation, Luis Chiriboga, after finding him guilty of taking bribes. Chiriboga was one of the executives arrested in 2015 amid a massive US-led crackdown on corruption in world football.FIFA's ethics judges banned Chiriboga from all football-related activities for life and fined him 1 million Swiss francs.