Daily GK Updates - 14th May, 2019

NATIONAL UPDATES:

1. Doordarshan Launches Online Souvenir Store in Partnership with Amazon India: Doordarshan has launched an online souvenir store for its viewers on Amazon India so that one can easily access it. Doordarshan is India's first broadcaster which has started Souvenir store. Chairman of Prasar Bharati A. Surya Prakash launched DD souvenir store on Amazon India. 

2. Young Scientist Programme 'Yuvika2019' inaugurated: The Young Scientist Programme ‘Yuvika2019’ was inaugurated by Indian Space Research Organisation (ISRO) Chairman Dr K Sivan, through video mode in Bengaluru. The two-week residential summer vacation programme spread over four ISRO centres in Bengaluru, Thiruvananthapuram, Ahmedabad and Shillong are attended by 110 students. He touched upon how the applications of Space technology is helping in the day to day activities of common man besides ensuring the safety of life and property during disaster situations. The participants will be visiting the spaceport of India, Satish Dhawan Space Centre in Shri harikota during this programme.

3. Spectacular Thrissur Pooram festival begins in Kerala: The most spectacular festival of Kerala ‘Thrissur Pooram’ has begun at Thekkinkadu Maidan in the heart of Thrissur city in Kerala. It is held at the Vadakkunnathan Temple in Thrissur every year on the Pooram day - the day when the moon rises with the Pooram star. A 54-year-old elephant ‘Thechikottukavu Ramachandran’ also participated in the festival.

INTERNATIONAL UPDATES:

1. US Navy Chief holds discussion with Indian Naval Chief Admiral Sunil Lanba: US Chief of Naval Operations Admiral John Michael Richardson held discussions with Admiral Sunil Lanba, India’s Chief of the Naval Staff. Mr. Richardson, who is on an official tour to India, intends to further consolidate bilateral naval relations between India and USA and also to explore new avenues for naval cooperation. Mr Richardson also interacted with Defence Secretary, Vice Chief of the Army Staff, Chief of the Air Staff and the National Security Council Secretariat.

2. Cannes Film Festival Begins In France: The international event of the world of cinema Cannes Film Festival (72nd edition) has begun in France (14 to 25 May 2019). Information and Broadcasting Secretary Amit Khare is leading the Indian delegation at Cannes and will inaugurate India Pavilion. ii. The Pavilion will showcase Indian cinema across linguistic, cultural and regional diversity, with the aim of forging international partnerships in distribution, production, filming in India. Indian Delegation will also release a special poster to mark the golden jubilee of International Film Festival of India (IFFI-2019). 

3. Vice President inaugurates 'Jaipur Foot Artificial Limb' fitment camp: Vice President M. Naidu inaugurated the Jaipur Foot Artificial Limb Fitment Camp in Hanoi during his four-day official visit to Vietnam. Vice President M. Venkaiah Naidu presented the artificial limb fitments to the beneficiaries at the Embassy of India in Hanoi under India for Humanity initiative. The Camp is being held under the 'India For Humanity' program in the context of the 150th birth anniversary of Mahatma Gandhi. The iconic Jaipur Foot is lighter than all the other artificial limbs and has transformed the lives of thousands and helped them lead a life of dignity.

4. India extends 1 billion-dollar Line of Credit to Mongolia: India has extended 1 billion- dollar Line of Credit to Mongolia to set up it’s first-ever grass-root refinery at Sainshand in Dornogobi Province. The capacity of the refinery will be 1.5 Million Metric Tons Per Annum. It will be implemented with EXIM Bank funding.

OTHER UPDATES:

SPORTS

1. Asia-Pacific Diamond Cup 2019: Japan's Yosuke Asaji Wins Title: India's Rahil Gangjee finished tied 39th while Viraj Madappa ended tied 53rd at the Asia-Pacific Diamond Cup held in Japan. Japan's Yosuke Asaji won the Asia-Pacific Diamond Cup 2019 at the Sobu Country Club.

2. India's GS Lakshmi Becomes 1st Ever Female ICC Match Referee: India's GS Lakshmi has become the first ever woman to be appointed to the ICC International Panel of Match Referees and will be eligible to referee international games with immediate effect. The 50-year-old first officiated as a match referee in domestic women's cricket in 2008/09. Lakshmi has overseen three women's ODI matches and three women's T20I matches. The first woman on the ICC Development Panel of Umpires was Kathy Cross, who retired in 2018.

BANKING AND FINANCE

1. LIC Mutual Fund Appoints Dinesh Pangtey as CEO: LIC Mutual Fund appointed Dinesh Pangtey as the company's Chief Executive Officer (CEO). Pangtey was Director and CEO at LIC Group's private equity division LIC HFL AMC. He joined LIC as a direct recruit officer in 1984. He has also served as Regional Manager Marketing channel in Western Zone spanning the states of Maharashtra, Gujarat and Goa.

2. RBI Slaps Rs1-crore Fine On Nainital Bank: The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs1 crore on Nainital Bank for its failure to fully automate the non-performing asset (NPA) identification process, despite specific directions issued in this regard.

3. ICICI Bank Joins Hands with Travel Portal Goibibo: ICICI Bank announced the launch of a co-branded multi-currency card with online travel booking portal Goibibo. The card also includes benefits of up to Rs 20,000, including gift vouchers of Rs 15,000 from Goibibo. 

4. NABARD Announces Rs 700-cr Venture Capital Fund for Agriculture, Rural Startups: The National Bank for Agriculture and Rural Development (NABARD) announced Rs 700-crore venture capital fund for equity investments in agriculture and rural-focused startups. NABARD has been contributing to other funds till now and this is the first time that the rural development bank has launched a fund of its own.  The fund has been launched by Nabventures, a subsidiary of NABARD, and has a proposed corpus of Rs 500 crore with an option to retain over-subscription of Rs 200 crore, called as the greenshoe option.

BUSINESS AND ECONOMY

1. India's retail inflation picks up to 2.92% in April: According to the Ministry of Statistics and Programme Implementation data, Retail inflation rose marginally to 2.92% in April this year, mainly due to the rise in food prices. The inflation based on the Consumer Price Index (CPI) was 2.86% in the previous month and 4.58% in April last. According to the Central Statistics Office (CSO) data the inflation in the food basket was 1.1% last month, up from 0.3 per cent in March this year. CPI-based inflation data is an important indicator of the economy as the Reserve Bank of India mainly factors in it while arriving at its monetary policy.

2. ITC appoints Sanjiv Puri as Chairman: ITC Ltd. has appointed Managing Director (MD) Sanjiv Puri (56-years) as the Chairman of the company with immediate effect. Mr Puri joined the company in 1986 and rose through the ranks like his predecessor. He was appointed as Chief executive officer (CEO) in 2017 and as Managing Director (MD) in 2018. Mr Sanjiv Puri is an alumnus of IIT-Kanpur and Wharton School of Business. On 11th May 2019, Company’s longest-serving chairman YC Deveshwar (72-years) passed away.

AWARDS AND HONOURS

1. CEAT Cricket Rating Awards 2019 Announced: CEAT Cricket Rating (CCR) Awards 2019 were announced in Mumbai. India captain Virat Kohli bagged the International Cricketer and Batsman of the Year award during the CCR International awards. Pacer Jasprit Bumrah was adjudged as International Bowler of the Year. Afghanistan leg-spinner Rashid Khan was awarded for outstanding bowling and Australian batsman Aaron Finch for his exceptional performance in T20. Young prodigy Yashasvi Jaiswal was awarded Junior Cricketer of the Year, while Chinaman Kuldeep Yadav took the home outstanding performance of the year award. Legendary Mohinder Amarnath, who played a key role in India's 1983 World Cup triumph, was bestowed with the 'CCR International Lifetime Achievement Award'.

DEFENCE

1. DRDO Successfully Conducts Flight Test of ABHYAS: Defence Research and Development Organisation (DRDO) conducted a successful flight test of ABHYAS - High-speed Expendable Aerial Target (HEAT) from from Interim Test Range, Chandipur in Odisha. The flight test was tracked by various RADARS and Electro Optic Systems and proved its performance in a fully autonomous waypoint navigation mode. The configuration of ABHYAS is designed on an in-line small gas turbine engine and uses indigenously developed MEMS-based navigation system for its navigation and guidance. DRDO Chairman: G Satheesh Reddy, Established in: 1958, Headquarters in: Bengaluru.

OBITUARIES

1. US actor Peggy Lipton passes away: Renowned American actress and model, Peggy Lipton (72-years) passed away. She came to fame through her role as flower child Julie Barnes in the ABC counterculture television series. She won the Golden Globe Award for Best Actress – Television Series Drama in 1970 for The Mod Squad (1968–1973).