Daily GK Updates - 16th August, 2019

NATIONAL UPDATES:

1. Inter-State Council reconstituted with Prime Minister as chairman: The Inter-State Council, which is mandated to investigate and advise on disputes between states, has been reconstituted with Prime Minister Narendra Modi as its chairman and six Union ministers and all chief ministers as members. Union ministers who will be members of the reconstituted council are Amit Shah (Home), Nirmala Sitharaman (Finance), Rajnath Singh (Defence), Narendra Singh Tomar (Minister of Agriculture and Farmers Welfare, Rural Development and Panchayati Raj). The Article 263 of the Constitution provides for the establishment of an Inter-State Council. Inter-State Council is to inquire into and advise upon disputes which may arise between states, investigate and discuss subjects in which some or all of the states, or the Union and one or more of the states, have a common interest.

2. Periodic Labour Force Survey (PLFS) 2017-18 says 33% of India’s skilled youth jobless: The ‘Skill India’ initiative launched by Pradhan Mantri Narendra Modi seem to be mere a buzzword as recent survey ‘Periodic Labour Force Survey (PLFS) 2017-18’, conducted by the National Sample Survey Office (NSSO), found that 33% of India’s skilled youth are jobless. Nearly a third of trained young men and more than a third of trained young women were unemployed.

Some of the key findings of the survey are as follows: Nationally, only 1.8% of the population reported receiving formal vocational/technical training in 2017-18. 93% of the population did not receive any vocational/technical training from either formal or informal sources. About 42% of the youth (15-29 years) who received formal technical training were not part of the labour force. Around 33% of the formally trained youth was unemployed in 2017-18. Nearly a third of trained young men and more than a third of trained young women were unemployed. The unemployment rate among freshly trained youth, who completed training during the previous year, was even higher at 40%.

3. IIT-Madras researchers develop industrial and field robot ‘GraspMan’: IIT Madras researchers have develop a multi-modal robot with Industrial and field applications called ‘GraspMan’. This robot has various industrial applications and can be used in search-and-rescue operations. GraspMan consists a pair of graspers, which provide morphological adaptation, enabling it to conform to the geometry of the object being grasped. This allows the grasper to hold objects securely and manipulate it much like the human hand.

4. Harshad Pandurang Thakur appointed as NIHFW's director: Harshad Pandurang Thakur has been appointed as the director of National Institute of Health and Family Welfare. The proposal of appointment was approved by the appointments Committee of the Cabinet, headed by Prime Minister. The NIHFW is an autonomous organisation under the Ministry of Health and Family Welfare. It acts as an apex technical institute as well as a think tank for the promotion of health and family welfare programmes in the country.

INTERNATIONAL UPDATES:

1. ADB signs USD 500 million loan agreement with Pakistan: The Asian Development Bank (ADB) has signed a USD 500-million loan agreement with cash-strapped Pakistan to support the country’s trade competitiveness and exports. The Manila-based ADB also approved a USD 750,000 technical assistance package to support the preparation and implementation of the programme in the country. The agreement was signed by Economic Affairs Division Secretary Noor Ahmed and the ADB’s Country Director Xiaohong Yang in the presence of Minister for Economic Affairs Muhammad Hammad Azhar.

OTHER UPDATES:

SPORTS

1. Liverpool beats Chelsea to win UEFA Super Cup: Liverpool defeated Chelsea in the finals to win UEFA Super Cup held in Istanbul. The match ended in draw with score 2-2 following the extra time. Later in the penalties, Liverpool beats Chelsea by 5-4. This was the fourth time Liverpool have won this competition.

2. Deepak Punia wins Junior World Championship title: Deepak Punia won the gold medal at the Junior World Championships held in Talinn, Estonia. He defeated Russia's Alik Shebzukov to win the 86 kg junior freestyle title. With the victory, he has become the 1st Indian in 18 years to win a Junior World Championship title. Another Indian wrestler Vicky Chahar also won the bronze medal in the 92 kg category after beating Mongolia's Batmagnai Enkhtuvshin.

3. Birmingham Commonwealth Games: Organisers firm on shooting exclusion: Commonwealth Games Federation has decided to exclude shooting from 2022 Commonwealth Game to be held in Birmingham. It is being decided despite a threat by India to boycott the entire event in protest. Regarding this Commonwealth Games chief Louise Martin has said that shooting will not be part of the 2022 edition in Birmingham. Shooting has been a high-yielding discipline for India, with shooters accounting for 16 of the country’s 66 medals, including seven golds, at last year’s Gold Coast Games. Indian Olympic Association (IOA) president Narinder Batra suggested that India boycott the Birmingham Games in protest at the decision.

4. Naomi Osaka returns to top spot in WTA rankings: US and Australian Open champion Naomi Osaka returned to the world number one spot in the WTA rankings The 21-year-old lost to Serena Williams in the quarter-finals of last week’s Rogers Cup but benefitted from the second round defeat of former number one Ashleigh Barty and the failure of Karolina Pliskova to reach the semis in Toronto.

BANKING AND FINANCE

1. RBI clarifies rules on ‘free ATM transactions’: The Reserve Bank of India has clarified rules on ‘free ATM transactions’ provided by banks to its customers. Banks provide certain number of free transactions at ATMs to their customers and beyond that impose charges. According to the Reserve Bank of India, the following transactions should not be counted as valid ATM transactions for the customer as the ‘free ATM transactions’: Transactions failed at ATMs due to technical reasons like hardware and software issues. Transactions failed due to non-availability of currency in ATMs. Use of ATMs for non-cash withdrawal transactions such as balance enquiry, cheque book request, payment of taxes, funds transfer.

2. SEBI to relax norms to allow smart cities issue funds through 'Muni Bonds': Capital market regulator SEBI is planning to ease its norms for 'Muni Bonds' to help smart cities and other registered entities working in areas of city planning and urban development work, like municipalities, raise funds through issuance and listing of their debt securities. The Securities and Exchange Board of India had issued its Issue and Listing of Debt Securities by Municipalites (ILDM) Regulations nearly five years ago. Since then seven municipalities have raised nearly ₹1,400 crore by issuing their debt securities, which are commonly known as 'Muni Bonds'.

AWARDS AND HONOURS

1. ISRO Chairman Sivan gets A.P.J. Abdul Kalam Award: Chairman of Indian Space Research Organisation (ISRO) K. Sivan, awarded Tamil Nadu government’s Dr. A.P.J. Abdul Kalam Award. Under his leadership, the ISRO launched its Chandrayaan-2 mission. A native of Kanniyakumari district, Mr. Sivan is known popularly known as the ‘Rocket Man’. Chief Minister Edappadi K. Palaniswami handed over the State government’s Kalpana Chawla Award for Courage and Daring Enterprise to P. Ramyalakshmi, Assistant Director of Fisheries (Marine) posted in Cuddalore.

OBITUARIES

1. Former India cricketer V.B. Chandrasekhar passes away: Former India and Tamil Nadu cricketer V.B. Chandrasekhar passed away. He represented India in 7 ODIs. V.B. Chandrasekhar was also a National selector from 2004 to 2006. He was a part of the last Tamil Nadu team which won the Ranji Trophy in 1988.