Daily GK Updates - 15th May, 2019

NATIONAL UPDATES:

1. India to Co-Chair Consultative Group of Global Facility for Disaster Reduction and Recovery: India is unanimously chosen as co-chair of the Consultative Group (CG) of Global Facility for Disaster Reduction and Recovery (GFDRR) for the fiscal year 2020. The decision was taken during the CG meeting of GFDRR held in Geneva, Switzerland, on the margins of the 6th Session of the GPDRR 2019. The CG Meeting was co-chaired by Africa Caribbean and Pacific (ACP) Group of States, the European Union (EU) and World Bank. This is the first time that the country has been afforded the opportunity of co-chairing the CG meeting of GFDRR.

Note: GFDRR is a global partnership that helps developing countries better understand and reduce their vulnerability to natural hazards and climate change. India became a member of CG of GFDRR in 2015 and expressed its interest to co-chair in last meeting of CG held in October 2018.

2. MoU Signed for Rudraksh Plantation in Ganga Basin: A tripartite MoU was signed between National Mission for Clean Ganga, HCL Foundation and INTACH for taking up a project of ‘Plantation of Rudraksh Trees in Uttarakhand’ as a part of CSR initiative under the ‘Namami Gange’ Programme. The project aims at planting 10,000 Rudraksh trees in the catchment area of river Ganga in Uttarakhand in association with local community and other stakeholders. 

3. The Union Government extends the ban on LTTE for five years: The Union Government has extended the ban on the Liberation Tigers of Tamil Eelam (LTTE) for another five years. The ban has been extended under sub-sections (1) and (3) of section 3 of the Unlawful Activities (Prevention) Act, 1967 with immediate effect.

Note: LTTE was founded on 5th May 1976 by Velupillai Prabhakaran. Its aim was to secure an independent state of Tamil Eelam in the north and east in response to the state policies of successive Sri Lankan governments towards Tamils.

INTERNATIONAL UPDATES:

1. International Day of Families: 15 May: In 1993, the General Assembly decided in a resolution that 15 May of every year should be observed as The International Day of Families. It is observed to promote awareness of issues relating to families and to increase the knowledge of the social, economic and demographic processes affecting families The Theme for 2019 International Day of Families is “Families and Climate Action: Focus on SDG 13". 

2. UN Imposed Sanctions on Terror Group ISIS Khorasan: The UN has imposed sanctions on terror group ISIS-Khorasan (ISIS-K) for its links with Al-Qaeda and involvement in several attacks in Afghanistan and Pakistan. The United Nations Security Council's 1267 Al Qaeda Sanctions Committee sanctioned Islamic State in Iraq and the Levant - Khorasan (ISIL-K). It is now subject to the assets freeze, traveling ban and arms embargo.

OTHER UPDATES:

BANKING AND FINANCE

1. HDFC ERGO launches 'Mosquito Disease Protection Policy': HDFC ERGO General Insurance Company has announced to launch the 'Mosquito Disease Protection Policy'. This new policy will cover an individual against common mosquito-borne diseases like Dengue Fever, Malaria, Chikungunya, Japanese Encephalitis, Kala-azar, Lymphatic Filariasis and Zika Virus. According to the report published by National Health Profile 2018, there has been an alarming rise in dengue cases in India, an increase of 300%   between 2009 - 2017. These diseases also lead to hospitalisation adding burden on expense or affecting the No Claim Bonus of any standard Health Insurance

2. HDFC Partners with IMGC for Home Loans: Housing finance major HDFC Limited has partnered with India Mortgage Guarantee Corporation (IMGC) to offer a mortgage-guaranteed home loan product. The partnership aims to make it possible for HDFC to further penetrate the home loan market and access an enlarged customer base, helping them to own a home of their choice. 

3. Airtel, HDFC Life Insurance Tie Up To Offer Free Cover: Bharti Airtel and HDFC Life Insurance have tied up to offer life cover for customers who get a prepaid recharge done. Airtel’s new Rs249-prepaid bundle (which will include 2 GB data, unlimited calls across networks, and 100 SMSes per day) will also offer a cover worth Rs4 lakh from HDFC Life.

4. Paytm Partners with Citibank to Launch 1st Credit Card- 'Paytm First Card': Digital payments company Paytm, in association with Citibank, launched its first credit card called Paytm First Card.  The card is issued by Citibank and doesn't involve any hidden fees or charges. Paytm First Card comes with unlimited cash back and will be accepted in India as well globally.

5. BharatPe Ropes in Salman Khan as Brand Ambassador: Merchant service and UPI payments app BharatPe has roped in Bollywood actor Salman Khan as its brand ambassador. 

6. RBI Appoints R Gandhi On YES Bank Board: The Reserve Bank of India has appointed its former Deputy Governor, R Gandhi, on the board of private sector lender YES Bankas an additional director. The appointment has been done in exercise of powers conferred under sub-section (1) of Section 36AB of the Banking Regulation Act, 1949. 

BUSINESS AND ECONOMY

1. WPI Inflation Slides To 3.07% in April: Wholesale Price Index (WPI)-based inflation for April eased to 3.07%, from 3.62% in April 2018. The latest WPI print was also lower than 3.18% recorded in March this year. Build up inflation for the financial year so far was 0.75%, lower than 0.86% in the corresponding period of the previous year. The overall WPI print for April was dragged down by a sharp decline in manufactured products (which accounts for two-third weightage in the WPI basket), which came in at a 30-month low of 1.7% (2.16% in March 2019).

DEFENCE

1. Indian Navy's 1st Full-Fledged SSB Opened at Kolkata: The Indian Navy's first full-fledged Services Selection Board (SSB) was inaugurated by Navy Chief Admiral Sunil Lanba at Diamond Harbour near Kolkata, West Bengal.  The SSB (Kolkata) spread over 27 acres located on the banks of Hooghly that was previously occupied by a Naval Coastal Battery. This is the fifth SSB of the Indian Navy. The other boards are located in Bhopal, Bengaluru, Visakhapatnam and Coimbatore. 

2. Maj Gen A K Dhingra Appointed As 1st Special Operations Division Commander: Ace Special Forces operative and Sri Lanka war veteran Major General AK Dhingra has been appointed as the first head of country's first tri-services Special Operations Division comprising commandos from all three services. The Armed Forces Special Operations Division has been set up by the government to undertake joint operations by three services and will have elements from the Army's Parachute Regiments SF, Marine Commandos (MARCOS) of the Navy and the Garud Commandos of the Indian Air Force.