Daily GK Updates - 20th October, 2017

NATIONAL UPDATES:

1. New Tourism policy of Assam:  Assam state cabinet has launched a new Tourism policy- 'Tourism Policy of Assam 2017' with the aim of increasing tourist inflow in the state two to three folds within the next five years. Its main focus to make Assam a filmmaking destination by offering a range of incentives to movie producers to come and shoot in the state. The new policy will be effective starting January 2018 till December 2022.

2. Loan waiver scheme of Maharashtra Government: The Maharashtra Govt. has released the sum of 4,000 crore rupees under the first phase of the over 34,000 crore rupees farm loan waiver scheme. A list of 8.4 lakh beneficiaries has been uploaded online and it would be sent to banks. From a single bank account, money will be transferred to banks and they will be asked to deposit the money in farmers' accounts as per the list.

3.'Online chat' platform to answer queries of taxpayers: Income Tax Department has launched an online chat service for taxpayers. They can get answers to their basic queries and doubts relating to direct tax issues. A window has been hosted on the main page of the department's website 'incometaxindia.gov.in' with a prominent icon stating Live Chat Online- ask your query. A person can enter the 'chat room' by furnishing an email-id and ask questions as a guest. A team of experts from the department and independent tax practitioners has been deputed to answer the general queries of a taxpayer.

4. Kamle - 23rd district approved by Arunachal Assembly: The Arunachal Assembly passed a bill paving way for creation of a new district to be named Kamle (bifurcating Subansiri districts). Now, the total number of districts in the state shot up to 23.

It consists of six administrative units, three under Lower Subansiri and three under Upper Subansiri.

5. Reduction in call rates on Satellite Phone used by armed forces: The Union Govt. has abolished the monthly charges on Digital Satellite Phone Terminal (DSPT) and reduced call rates to 1 rupee per minute to personnel of military and paramilitary. The Defence, as well as paramilitary personel will be able to make calls to their families using the satellite phone for Rs 1 per minute (existing Rs 5 per minute). Now, no monthly fee will be taken for using the service.

INTERNATIONAL UPDATES:

1. India, Brazil & South Africa sign IBSA Trust Fund agreement: India, Brazil and South Africa signed the IBSA Trust Fund Agreement that seeks to fight poverty in developing countries. The agreement was signed by Minister of State for External Affairs V K Singh who led the Indian side at the 8th IBSA trilateral Ministerial Commission Meeting in Durban. The IBSA Trust Fund brings together the three emerging economies of India, Brazil and South Africa to combat poverty in other developing countries. Each country contributes USD 1 million annually to this fund which is managed by the UN Development Programme's (UNDP) Special Unit for South-South Cooperation.

2.  South Africa displace India from top of ODI rankings: India lost their number one status in ICC ODI rankings to South Africa. Now, India and South Africa have identical 120 points against their name, India is placed second on the basis of decimal points. Recently, India had claimed the top spot in the ICC rankings following their 4-1 win over Australia at home recently.

OTHER UPDATES:

HONOURS/AWARDS:

1. Environmental scientist Schellnhuber receives Blue Planet Prize: The world’s most prestigious award for pioneers in environmental science has been given to Hans Joachim Schellnhuber in Tokyo. The Blue Planet Prize honors outstanding thinkers who help to meet challenges of planetary dimensions.

Daily GK Updates - 21st August, 2017

NATIONAL UPDATES:

1. Govt all set to hike GST cess on luxury cars, via ordinance: The government is set to promulgate an ordinance within weeks, allowing an increase in goods and services tax (GST) cess on luxury cars and SUVs, as it seeks to restore tax revenue from the automobile industry that unintentionally got affected in the transition to the new indirect tax regime.

2. Number of PSU banks to fall to 10-15 after consolidation - Sanjeev Sanyal: The government is looking to reduce the number of public sector banks to 10-15, more than what was envisaged earlier, through a series of mergers and acquisitions so that none of the banks become too big to fail, said Sanjeev Sanyal, principal economic adviser at the finance ministry. Earlier it was speculated that the number of PSBs might be reduced to 4-5.

3. AIADMK factions finally unite, Panneerselvam is deputy CM: The AIADMK factions finally merged following a power sharing arrangement. Palaniswami will remain the chief minister and O Panneerselvam will be his deputy. Panneerselvam will also be the AIADMK coordinator while Palaniswami will be the co-coordinator.

4. K Chandrasekhar Rao gets global agriculture leadership award: Chief Minister of Telangana ‘K Chandrashekhar Rao’ has been selected for the prestigious Agriculture Leadership Award-2017 for his innovative services rendered to the welfare of farmers and the farm sector. The Indian Council of Food and Agriculture (ICFA) Committee headed by agriculture scientist MS Swaminathan has recommended the CM’s name.

INTERNATIONAL UPDATES:

1. China launches first cyber court in e-commerce hub of Hangzhou: China launched its first cyber (internet) court specialising in handling internet-related cases in the e-commerce hub of Hangzhou, amid a spike in the number of online disputes. The cyber court will handle cases such as online trade disputes and copyright lawsuits. These cases handled by the court will be tried online.

2. China's army conducts military exercises 'to strike awe in India':  Global Times made sure to mention that the drills were conducted "amid tensions in Doklam" to "lay the ground for plateau warfare". More than 10 PLA units from the 'western theater command' participated in the drills. The units included aviation and armoured forces, said a China Central Television report.

3. World’s smallest surgical robot: British scientists have developed world’s smallest surgical robot which could transform daily operations for tens of thousands of patients. The robot, called Versius, mimics human arm & can be used to carry out a wide range of laparoscopic procedures including hernia repairs, colorectal operations.

OTHER UPDATES:

BANKING & FINANCE:

1. SBI waives processing fees on personal loans: State Bank of India has waived processing fees on most of its retail loans. It will waive upto 100 per cent processing fee on car loans, personal gold loans and other personal loans. The retail push comes three weeks after the bank announced a cut in the savings bank rate.

BUSINESS & ECONOMY:

2. Rosneft closes $13-billion Essar Oil acquisition deal: The nearly $13-billion acquisition of Essar Oil Ltd by a consortium led by Russia’s Rosneft PJSC is believed to have been completed, sources close to the matter said. This paves the way for the Essar group to reduce its debt. The deal, which Essar termed the largest foreign direct investment in India, includes the sale of a 20 million-tonnes-per-year Vadinar refinery and Vadinar port in Gujarat to Rosneft, United Capital Partners and Trafigura Group Pte. Essar’s promoters, the Ruias, will retain a 2% stake in these assets.

3. McDonald’s terminates franchise agreement with CPRL for 169 restaurants: McDonald’s India Pvt. Ltd (MIPL), the Indian subsidiary of the American fast food chain on Monday terminated its franchise agreement with Connaught Plaza Restaurants Pvt. Ltd (CPRL), the north and east India licensee of McDonald’s, the company said in a statement.

4. NTPC seeks shareholder nod to raise Rs15,000 crore via bonds: State-owned power giant NTPC Ltd has sought shareholders’ approval to raise Rs15,000 crore via non-convertible bonds on private placement basis domestically for capex, working capital and other corporate purposes. The special resolution is listed on the agenda of the annual general meeting scheduled for 20 September.

5. Chaayos plans to expand tea range, open more stores in India: Tea cafe chain Chaayos is planning to expand its range of tea-based packaged consumer goods and open more stores. Chaayos CEO Nitin Saluja says launching Chai Pattis to help customers enjoy top selling Chaayos Chai at the comfort of their homes.

6. Government imposes anti-dumping duty on tempered glass from China: The Union Finance Ministry (Revenue Department) has imposed anti-dumping duty on certain “textured toughened (tempered) glass” imported from China. This will help the local industry against the heavily dumped Chinese products.

SPORTS:

7. Indian hockey is on par with the best: Rupinder Pal Singh: Rupinder was named TOISA Hockey Player of the Year (Jury’s Choice) for an excellent 2016. He was part of a fruitful 2016 campaign during which India won the Asian Champions Trophy.

8. Shapath Bharadwaj wins bronze at Junior Shotgun World Cup: Shapath Bharadwaj (15-year) has won a bronze medal in the double trap event at the ISSF Junior Shotgun World Cup in Porpetto, Italy. Lakshay Sheoran and Manisha Keer combined to win a bronze in the mixed team trap competition.