Daily GK Updates - 7th July, 2017

NATIONAL UPDATES:

1. Govt. to set up skill development centres for minority youth: To offer employment-oriented training to the youth from minority communities the government will set up Garib Nawa skill development centres in 100 districts of the country. It will also proffer marriage assistance to the tune of Rs 51,000 (per head) to families of girl students who complete their graduation availing the Centre’s Begum HazratMahal scholarship.

2. Navies of India, US and Japan to participate in Malabar exercise: Naval ships, aircrafts and personnel from India, Japan and the United States will participate in the 10-day long Malabar exercise.The exercise will feature both ashore and at-sea training.Malabar 2017 is the latest in a continuing series of exercises that has grown in scope and complexity over the years to address the variety of shared threats to maritime security in the Indo-Asia Pacific.India's aircraft carrier INS Vikramaditya, Japan's largest warship JS Izumo and super-carrier Nimitz of the United States will be part of the exercise.

3. India declares itself free from Avian Influenza: The government declared the country free from Avian Influenza, commonly called as bird flu.The outbreak of bird flu, an infectious viral disease of birds, was reported at various epicentres in nine states and Union Territories during October 2016 and February 2017.Agriculture Ministry said surveillance in the states showed no evidence of presence of bird flu.India has declared itself free from Avian Influenza (H5N8 and H5N1) from 6 June 2017 and notified the same to World Organisation for Animal Health (OIE).

4. Chhattisgarh tops list of states in issuance of soil health cards:  Among all the states in the country Chhattisgarh has topped the list for having issued over 43 lakh soil health cards (SHCs) to farmers in the past two years. The process of providing soil health cards, a Union government’s initiative, to farmers for their land is going at a rapid pace in Chhattisgarh.

5. SC stays HC order declaring The Ganga river as a living entity: The Supreme Court today stayed the Uttarakhand High court’s order recognising Ganga and Yamuna as living entities.

Notably, New Zealand’s Whanganui river is the first to be given such a status.

6. India ranks 23rd in GCI: India has been ranked 23rd out of 165 nations in the second Global Cybersecurity Index (GCI) that measures the commitment of nations across the world to cyber security. The Index has been released by the UN telecommunications agency International Telecommunication Union (ITU).

7. Sanjiv Goenka named as IIT-Kharagpur chairman: RP Sanjiv Goenka Group Chairman, Sanjiv Goenka, has been named as the Chairman of the Board of Governors at IIT-Kharagpur. He will serve as the Chairman for three years. 

INTERNATIONAL UPDATES:

1. World Chocolate Day celebrated: World Chocolate Day, sometimes referred to as International Chocolate Day, is an observance that occurs globally every year on July 7. Celebration of the day includes the consumption of chocolate. It has been stated that 7 July 2017 marks 467 years since chocolate was introduced to Europe.

2. China accuses India of trampling on the Panchsheel pact: Demanding immediate withdrawal of Indian troops from Doklam, China recently accused India of trampling on the Panchsheel pact. Panchsheel pact which was signed on 29th April 1954 was the first formally enunciated in the Agreement on trade and Intercourse between the Tibet region of China and India. It contains five Principles which are Mutual respect, Mutual non-aggression, Mutual non-interference, Equality and Mutual benefit, Peaceful Coexistence.

3. The twelfth G20 summit begins at Hamburg, Germany: The 2017 G20 Hamburg summit is the twelfth meeting of the Group of Twenty held on 7–8 July 2017 in the city of Hamburg.

G20 which was founded in 1999 to give developing countries a more powerful voice in the global economy, the summit brings together industrialised and emerging economies.

4. UNESCO puts Old City of Hebron on its heritage in danger list:  The UNESCO World Heritage Committee acting on a proposal brought by Palestine has put the West Bank city of Hebron on its list of world heritage in danger.  This has made Israel angry and has triggered a new Israeli-Palestinian spat at the international body.

OTHER UPDATES:

SPORTS:

1. Manpreet wins 1st gold for India at 22nd Asian Athletics Championship: India’s Manpret Kaur bagged the gold medal in women’s shot-put on the opening day of the asian Athletics Championship DISHA held at Odisha .

BANKING AND FINANCE:

2. Bank customers won’t have to bear loss from fraudulent transactions says RBI:If unauthorised electronic banking transactions are reported to the bank within three days, the Reserve Bank of India said that customers will not suffer any loss thus putting the onus of such transactions largely on the banks.In case the third-party fraud is reported with a delay of four to seven working days, a customer will face liability of up to Rs 25,000. In cases where the loss is due to negligence by the account holder such as sharing of payment credentials, the customer will bear the entire loss until the unauthorised transaction is reported to the bank.

3. RBI considering setting up a Public Credit Registry:  The Reserve Bank of India (RBI) may consider setting up a Public Credit Registry (PCR), which will be an extensive database of credit information for India that is accessible to all stakeholders.PCR is managed by a public authority like the central bank or the banking supervisor, and reporting of loan details to the PCR by lenders and/or borrowers is mandated by law.

4. Canara, HSBC Oriental Bank of Commerce Life Insurance ties up with Dhanlaxmi Bank for marketing Bancassurance: Bancassurance is the partnership or relationship between a bank and an insurance company, or a single integrated organisation, whereby the insurance company uses the bank sales channel to sell insurance products. Private life insurance companyCanara HSBC Oriental Bank of Commerce Life Insurance has entered into an alliance with the Kerala based Dhanlaxmi Bank for marketing various life insurance products. As part of the agreement, the Bank will be a corporate agent for 3 years.

5. SEBI seeks details of proposed IDFC-Shriram Capital mega merger:  The Securities and Exchange Board of India (SEBI) has sought details from IDFC and Shriram Group's companies on the proposed merger. According to reports, Chennai-based Shriram Capital and IDFC Bank are set to begin negotiations for merging all or some of their businesses in a mega-union that could create a Ra 60,000-crore financial powerhouse.

BUSINESS & ECONOMY:

6. Tata Steel receives PM’s trophy for best Integrated Steel Plant: Tata Steel Ltd has bagged Prime Minister’s trophy for ‘Best Performing Integrated Steel Plant’ in the country for the performance years 2014-2015 and 2015- 16. This is for the third consecutive year that Tata Steel has bagged the award. 

7. Tesla building world’s biggest Li-ion battery: Elon Musk led Tesla, announced thet it is building world’s biggest Li-ion(Lithium Ion) battery system which will be used for storage of renewable energy in South Australia. The 129 MWh Powerpack system will be charged by a wind farm.

8. Mercedes-Benz India records best ever sales in June quarter: Luxury carmaker Mercedes-Benz reported record sales in India at 3,521 units in the April to June quarter. The company said it had recorded a growth of 18% compared to the same period of the previous financial year.

Daily GK Updates - 6th July, 2017

NATIONAL UPDATES:

1. Jammu & Kashmir Assembly passes resolution to implement GST: The state assembly passed the landmark tax reform during a special session, after two days of heated exchanges and fiery debates between BJP members and the opposition. The resolution moved by state Finance Minister Haseeb Drabu, was adopted through a presidential order. With this, all the states have implemented the Goods and Services Tax.

2. MERIT app and e-Bidding portal launched: The Power Ministry launched the MERIT app (Merit Order Dispatch of Electricity for Rejuvenation of Income and Transparency) and the portal for providing e-Bidding solution to states to select Independent Power Producers (IPPs). It will help States to select Independent Power Producers for procurement of power by transferring their domestic coal under the scheme of flexibility in utilization of domestic coal.

3. Indian NGO wins UNDP’s award: Swayam Shikshan Prayog, a city-based NGO, has been awarded the United Nations Development Programme’s Equator Prize for devising an ecologically sustainable agriculture model to combat the adverse impacts of drought.

It is the only Indian organisation to win the award, making the cut from more than 800 nominations across 120 countries.

4. Election Commission to tally paper trail slips with EVMs: Election Commission has decided to mandatorily tally paper trail slips with the results of EVMs in 5% of polling stations in each assembly seat, for all state and Lok Sabha elections. Counting of paper trail slips, however, will not take place in more than 14 polling stations and less than five polling stations in each assembly seat.

5. Railways new “Give it up” campaign: The Indian Railways is set to launch a 'Give-It-Up' campaign that will give travellers the option to forego the subsidy on their train tickets. The passengers will have the option to forego either 100 per cent of the subsidy or 50 per cent or to avail the subsidy. It will be a voluntary decision that we leave to the customers."

INTERNATIONAL UPDATES:

1. 5th Meeting of BRICS Education Ministers held at Beijing: Meeting of BRICS Ministers of Education was held on 5th July, 2017 at Beijing, China. Indian delegation was led by Prakash Javadekar, Minister of HRD. He highlighted some of the initiatives of the Govt. of India in education like National Institutional Ranking Framework which provides a relative ranking of Indian institutions, India’s indigenous MOOCs platform and SWAYAM among others.

OTHER UPDATES:

BUSINESS & ECONOMY:

1. Amazon to invest Rs.1680 crores more in India unit: Jeff Bezos, Amazon founder has already highlighted the importance of Indian operations to Amazon. This infusion will be focused on improving against local rival Flipkart.

2. Volvo cars – All electric or hybrid by 2019: Volvo has announced that starting from 2019, all of its new cars will be fully electric or hybrid. This makes Volvo the first major traditional automaker to set a date for phasing out vehicles powered solely by the internal combustion engine. Volvo will launch five fully electric cars between 2019 and 2021. Three of them will be Volvo models and two will be electrified cars from Polestar.

3. Shanghai based SAIC Motors to set up Rs 2000cr car plant: China’s SAIC Motor has entered into an MoU with the Gujarat government to establish the plant at Halol where MG brand cars will be manufactured. SAIC will set up a passenger car manufacturing facility at Halol in Panchmahals district of Gujarat with an investment of Rs 2,000 crore.

4. AIIB approves USD 329 mn loan for Gujarat: Asian Infrastructure Investment Bank has approved a USD 329 million loan to build access roads to 4,000 villages in 33 Gujarat districts. It aims to construct & upgrade district and farm-to-market roads for the villagers and provide approaches to educational institutions, schools and hospitals.

SPORTS:

5. Germany tops, India at 96th in FIFA World ranking: India has moved four places up to the 96th position in the FIFA World ranking released on 6th July. This is India’s second best ranking, its previous best was the 94th position in February 1996. Germany topped the rankings followed by Brazil and Argentina.

6. Pankaj Advani-led Indian clinched Asian Snooker Championship: India's leading cueist Pankaj Advani teamed up with Laxman Rawat to demolish Pakistan in the final of the Asian Team Snooker Championship in Bishskek, Kyrgyszstan.

Daily GK Updates - 5th July, 2017

NATIONAL UPDATES:

1. Israel names a flower after PM Narendra Modi: A new fast-growing Israeli flower has been named after PM Narendra Modi, in a special gesture to mark the first visit to the Jewish nation Israel. The flower, Crysanthumun, will now be called "Modi".

2. 5% concessional rate on devices for the physically-challenged: The Ministry of Revenue has announced a 5% concessional GST rate on the following assistive devices and rehabilitation aids for physically-challenged person. The concessional 5% GST rate on these devices/equipments would enable their domestic manufacturers to avail of input tax credit of GST paid on their inputs and raw materials. A total of 22 items have the concession.

3. Karnataka launches ‘Elevate 100’ scheme: The Karnataka government has launched the ‘Elevate 100’ scheme to identify and nurture innovative start-ups. The Elevate scheme is the brainchild of the start-up cell, Karnataka Biotechnology and Information Technology Services (KBITS), to help start-ups across the state. The aim is to identify 100 most innovative start-ups in the state to elevate them to the next level of success.

4. TERI ranked second best in the world: The Energy Resources Institute has been ranked as the second best climate think tank in the world. The rankings were released by The International Center for Climate Governance, which focuses on the design of climate policy and related governance issues. TERI conducts research for sustainable development of India and is headquartered in New Delhi.

5. Environment Minister launches plantation drive to mark ‘Van Mahotsav’: The Union Environment Minister Dr. Harsh Vardhan has launched a month-long plantation drive ‘Van Mahotsav’ at Ram Lila Park, C. C Colony, and Model Town early this morning in Delhi. Van Mahotsav is usually observed in the first week of July every year and is celebrated on different days in different parts of India.

6. Western Railway renames 'Elphinstone Road' station as 'Prabhadevi': According to the Western Railways notification, the name of ‘Elphinstone Road station has been changed to ‘Prabhadevi’. Prabhadevi is a local deity, whose temple is located in the vicinity of the railway station.

7. President clears ordinance allowing ‘Kambala’: President ‘Pranab Mukherjee’ has approved promulgation of Prevention of Cruelty to Animals (Karnataka Amendment) Ordinance, 2017. It allows conducting ‘kambala’, an annual buffalo race organized in Karnataka.

8. India’s tallest ATC tower at Delhi Airport: The new 101.9-metre air traffic control tower at the Delhi airport — touted to be the country’s tallest — is likely to start operations by December. The tower, among the tallest structures in Delhi, will give a 360-degree view of the airport to the controllers who will be able to see all the three runways, aprons and taxiways.

9. Sanjay Kumar -  the new NDRF Chief appointed: Himachal Pradesh director general of police Sanjay Kumar has been appointed as the new chief of the National Disaster Response Force.

10. Arunachal Pradesh celebrates 'Dree festival': Today, the most popular ‘Dree festival’ of ‘Apatani community’ is being celebrated across the Arunachal Pradesh with traditional pomp and gaiety. ‘Apatanis’ pray their traditional Gods to bring in a bountiful harvest season along with the defeat of destructive forces in the society through this festival.

INTERNATIONAL UPDATES:

1. Most detailed MRI scan carried out at Cardiff University: An advanced MRI machine has produced the world’s most detailed scan of the human brain that could one day be used to better understand schizophrenia, dementia and epilepsy. The scan was carried out at Cardiff University’s Brain Research Imaging Centre. The images were generated using an advanced MRI machine – one of only three in the world.

OTHER UPDATES:

BUSINESS & ECONOMY:

1. 22nd Asian Athletics Championships inaugurated at Kalinga Stadium: The 22nd Asian Athletics Championships has been inaugurated at Kalinga Stadium in Odisha capital Bhubaneswar. Over 1,200 athletes and officials from 44 countries in Asia will witness the sporting event which will continue until 9th of this month.

2. Ivory Coast International tournament: Ritika Thaker defeated Simran Singhi to win the singles title in the Ivory Coast International badminton tournament at Abidjan. Later, Ritika and Simran paired together to beat the Nigerian duo of Zainab Momohand Peace Orji in the women’s doubles final.

BANKING & FINANCE:

3. RBI ups FPI investment limit in g-secs: Reserve Bank has raised the FPI investment limit in government securities by 4.7% to Rs 2.42 lakh crore for July-September quarter. Likewise, the foreign portfolio investors will be allowed to raise their investment in state development loans by Rs61 billion to Rs331 billion for September quarter. Hence, the overall limit of FPI investment in government securities goes up to Rs 2580 billion

4. Credit card bill payment exempt from cash dealing limit of Rs 2 lakh: According to Revenue Department, restrictions on cash dealings of two lakh rupees or more will not apply to credit card bill payments. The Finance Act 2017 banned cash transaction of 2 lakh rupees or above with effect 1st of April this year. The move to ban cash transaction above a threshold was aimed at curbing black money by discouraging cash transaction and promoting digital economy.

BUSINESS & ECONOMY:

5. Microsoft India inks pact with NISA: Microsoft India has signed an agreement with National Independent Schools Alliance to offer Microsoft Aspire School Program (MASP) Pro Plus to over 55,000 member schools. MASP aims to equip schools with technology and innovative learning solutions, modernise campuses, and prepare future- ready students, among others.

6. $100 million venture fund for start-ups by Nilekani: Infosys co-founder and Aadhaar architect - Nandan Nilekani - along with venture capitalist Sanjeev Aggarwal has launched a $100 million venture fund called Fundamentum to back mid-stage startups. The corpus may be extended to $200 million if the fund sees more opportunities.

Daily GK Updates - 4th July, 2017

NATIONAL UPDATES:

1. India successfully test-fires short-range surface-to-air missile: Quick Reaction Surface-to-Air Missile (QR-SAM) was successfully test-fired by India in all-weather tracked-chassis from a mobile launcher at launch complex III of the Integrated Test Range at Chandipur, Odisha. The QR-SAM weapon system is a quick reaction, network-centric missile system capable of search-on-the-move. QR-SAM system can also engage multiple targets within a range of around 30 km with two vehicle configuration for area air defence.

2. Reliance Jio to launch the world’s longest submarine cable system: Reliance Jio has announced to launch the world’s longest 100Gbps technology-based submarine system. The Asia-Africa-Europe (AAE-1) submarine cable system stretches from Marseille in France to Hong Kong, covering 25000 km.   It will have 21 cable landings across Asia and Europe. The project is a combination of leading telecom service providers from Europe, the Middle East, and Asia.

3.  Nagaland declared as ‘disturbed area’ under AFSPA for six months:  Under the Armed Forces (Special Powers) Act Entire Nagaland has been declared as disturbed area for the next 6 months. Armed Forces (Special Powers) Acts (AFSPA), are Acts of the Parliament of India that grant special powers to the Indian Armed Forces in what each act terms "disturbed areas". According to The Disturbed Areas (Special Courts) Act, 1976 once declared ‘disturbed’, the area has to maintain status quo for a minimum of 3 months.

4.  Finance ministry removes additional excise duty on tobacco, cigarettes: The GST Constitutional (Amendment) Act permits the Centre to levy excise duty on six items including tobacco and tobacco products. The Finance Ministry has removed additional excise duty on tobacco, cigarettes and pan-masala from 1^st July following the GST implementation. The revenue department also repealed its earlier central excise notification, which deals with excise duty rate on unmanufactured tobacco and chewing tobacco. The other items are petroleum crude, diesel, petrol, natural gas, and ATF.

International UPDATES:

1. US to honor Indian Americans with Great Immigrants Award: Indian-Americans, Shantanu Narayen (Adobe Chief) and Vivek Murthy (former US Surgeon General) will be honored with the Great Immigrants Award for their role in helping advance the country's society, culture and economy.

OTHER UPDATES

SPORTS:

1. Novak Djokovic clinches Eastbourne International Men’s Singles title: Tennis star Novak Djokovic (Serbia) defeated Gael Monfils (France) to clinch the Eastbourne International Men’s Singles title. He defeated Monfils 6-3, 6-4. Czech tennis player Karolina Pliskova defeated Danish Caroline Wozniacki to win the Eastbourne International Women’s Singles title. Pliskova defeated Wozniacki 6-4, 6-4.

Daily GK Updates - 3rd July, 2017

NATIONAL UPDATES:

1. GST to be positive for India says Moody’s Investor Service: According to the Moody's Investors Service, Implementation of the GST will be positive for India's rating as it will lead to higher GDP growth and increased tax revenues.GST is likely to contribute to productivity gains and higher GDP growth by improving the ease of doing business, unifying the national market and enhancing India's attractiveness as a foreign investment destination.Both will be positive for India's credit profile, which is constrained by a relatively low revenue base.

2. Govt. imposes 10% customs duty on imported mobile phones, parts: In order to boost domestic manufacturing, the Union Government has imposed basic customs duty on mobile phones and certain parts to 10%. Inputs and raw material to manufacture parts of specified electronics goods, including mobile phones will also continue to be exempt from basic customs duty. However, present exemption from basic customs duty on specified parts of mobiles will continue.

3. Arunachal Pradesh launches e-Inner Line Permit program: To assist visitors to apply for and obtain the mandatory ILP, Chief Minister Pema Khandu has launched a web portal ‘arunachalilp.com’. The e-Inner Line Permit (eILP) programme is a digital step for hassle-free entry of domestic visitors to the state.

4. Foundation stone of country’s biggest Global Skill Park laid in Bhopal: The foundation stone of the country’s biggest Global Skill Park in Bhopal  was laid today. The 37-acre land has been allotted in Narela Shankari area of Bhopal for the Global Skill Park.The park will be constructed at a cost of 645 crore rupees. Training will be imparted to 1000 students every year by trainers of international standard. The park will function on the spirit of With Industry -For Industry.

5. Madhya Pradesh sets record with plantation of over six crore saplings in a day: MP launched a massive plantation drive at Amarkantak of Anooppur district to save the environment and conservation of the Narmada river in Madhya Pradesh. Over six crore saplings were planted in twenty-four districts of Narmada basin in just 12 hours. Arrangements were made to record the whole event for the Guinness World Record.

6. Haryana CM launches immunization campaign from Gurugram: Haryana Chief Minister Manohar Lal has launched the immunization campaign from Gurugram by administering polio drops to the children of age 0-5 years. The Campaign is being carried out in 13 districts of the state.The 451 transit teams have been formed in each district of the state to achieve the target of covering all children in the slum areas and brick kilns.

International UPDATES:

1. WHO declares end of Ebola outbreak in Congo: The World Health Organisation has declared the end of the most recent outbreak of Ebola virus in the Democratic Republic of Congo (DRC).It was DRC’s eighth outbreak of EVD since the discovery of the virus in the country in 1976. It killed four of the eight people infected in the central African country.

OTHER UPDATES:

SPORTS:

1. Jeff Horn stuns Pacquiuao in WBO welterweight world title fight:  At Suncorp Stadium Jeff Horn has defeated legendary Manny Pacquiao by a unanimous decision in Brisbane, Australia.Horn put up an incredible performance to claim Pacquiao's WBO welterweight championship.

 2. Germany wins maiden Confederations Cup title 2017: Germany won the 2017 FIFA Confederations Cup by defeating Chile 1–0 in the final to win their first title at St Petersburg, Russia.Germany defeated Chile by a solitary goal, Lars Stindl put Germany ahead in the first half against the run of play, and Germany then held on to the lead. Germany has been a four time world cup winner. 

Daily GK Updates - 2nd July, 2017

NATIONAL UPDATES:

 1.  Nitin Gadkari kick-starts national green highways mission: A plantation drive on 1,500 kilometers of National Highways has been launched by the Road Transport and Highways Minister Nitin Gadkari under the National Green Highways Mission in New Delhi. The launch has been announced at a workshop yesterday organized by the National Green Highways Mission on the theme “Green Highways Projects: Way Ahead”. The project has a huge potential to generate jobs and can prove to be a game-changer for agriculture and rural economy.

2. Kerala government bans e-cigarettes: Kerala becomes second state in India to ban e-cigarette.Punjab was the first state to ban e-cigarettes in November 2014under the provisions of Cigarettes and Other Tobacco Products Act (COTPA), 2003. Kerala Government has banned e-cigarettes following study reports that the use of e-cigarettes could lead to cancer and heart diseases.Orders have been issued banning manufacture, sale, marketing and advertising of e-cigarettes in the State.

3. Textiles India 2017: India’s first-ever mega trade event: India’s first ever mega trade event was inaugurated by Prime Minister Shri Narendra Modi, at Helipad Ground, Gandhinagar. Textile India 2017 is the first summit of its kind. This maiden initiative is a collaborative effort of several Export Promotion Councils under the Ministry of Textiles, with Confederation of Indian Industry (CII) being the industry partner.This mega exhibition showcases India’s strength in the entire gamut of textile and apparel value chain, from fibre to fashion.

International UPDATES:

1. Swedish Major General PerGustaf Lodin  appointed to head UN mission: Major General PerGustaf Lodin of Sweden is appointed as Chief Military Observer and Head of Mission for the United Nations Military Observer Group in India and Pakistan. Lodin succeeds Major General Delali Johnson Sakyi of Ghana, who completes his two-year assignment.

OTHER UPDATES:

BANKING AND FINANCE:

1. SBI launches a Digital Village: By adopting them as SBI Digital Villages State Bank of India has embarked on transforming the villages into cash less eco-system.The Bank will formally launch this initiative in 21 villages on the occasion of State Bank Day, which have moved on to the digital platform.SBI plans to bring 100 villages under this initiative across the country by the end of FY 17.

SPORTS:

2. Ravi Shastri resigns from ICC post: Ravi Shastri, a former India captain and Team Director has resigned from his post as media representative in ICC's prestigious Cricket Committee. The chairman of ICC Cricket Committee is current Team India coach Anil Kumble. The official reason is his busy media commitments as commentator, TV expert and columnist.

3. Recognition granted to Paralympic Committee of India: The Union Sports Ministry has granted recognition to Paralympic Committee of India (PCI) after the International Paralympic Committee (IPC) announced temporary lifting of suspension on it.This recognition gives a huge confidence boost to the several para-athletes who have qualified for 2016 Rio Paralympics. Due to internal conflicts between different groups and persons the IPC had suspended PCI in April2015 , which were undermining the development of Paralympic Movement in India.Indian para-athletes were not allowed to participate in any IPC-sanctioned competition, including 2016 Rio Paralympic Games.

Daily GK Updates - 1st July, 2017

NATIONAL UPDATES:

1. KK Venugopal to be new Attorney General of India:  K K Venugopal, a noted constitutional expert and senior advocate has been cleared for appointment as the Attorney General of India. He would become a law officer for the second time after being an Additional Solicitor General during the Morarji Desai government. Venugopal is the recipient of ‘Padma Vibhushan’ and ‘Padma Bhushan’.

2. India launches historic indirect tax regime GST:  The Goods and Services tax regime has been launched at the stroke of midnight on 1 July 2017. The launch was organized in the Central Hall of Parliament on the midnight of 30 June - 1 July 2017 in the presence of President, Vice President, Prime Minister, Speaker of LokSabha and Union Finance Minister among other dignitaries.The GST launch was marked by the speech of Prime Minister NarendraModi, who dubbed the tax regime as the ‘Good and Simple Tax’.

3. BHEL signs pact with Japanese firm for manufacturing coaches for metro trains: An agreement has been signed by The Bharat Heavy Electricals Limited (BHEL)  with Kawasaki Heavy Industries Ltd (KHI) of Japan to manufacture stainless steel coaches and bogies for metro rail.The agreement covers establishing engineering, design, and manufacturing facilities at BHEL using Japanese technology.It will also entitle BHEL for all technological advances and upgrades.

4. Govt lowers interest rate by 0.1 % on small saving schemes for July-Sep quarter:  The union govt. has lowered interest rate on small saving schemes by 0.1% for the July- September quarter this year. The rates of small saving schemes like PPF (Public Provident Fund) - 7.8%, KisanVikasPatra (7.5 %) & mature in 115 months, have been lowered across the board compared to the April-June quarter.Samriddhi Account Scheme (girl child savings scheme) will offer 8.3% annually, from 8.4% at present.

5. AK Jyoti of Gujarat cadre will be next Chief Election Commissioner: Achal Kumar Jyoti will be the next Chief Election Commissioner (CEC) of India.He would take charge from incumbent Nasim Zaidi, retire from his post on 6 July 2017.Currently, Jyoti is the Election Commissioner of India along with O P Rawat.

6. National Doctor's Day: 1st July: The National Doctors’ Day is celebrated every year on 1st July in India to honour the legendary physician and the 2nd Chief Minister of West Bengal, Dr. Bidhan Chandra Roy. This is a vital day for doctors as it provides them with an opportunity to reflect on their career and remind them about practicing the art and science of Medicine and Surgery in an ethical manner. Dr. Roy was honoured with the country's highest civilian award Bharat Ratna.

International UPDATES:

1. Carrie Lam sworn-in as Hong Kong’s new leader :Chinese President Xi Jinping sworn in the new leader of Hong Kong, Carrie Lam, on Saturday as the region marked 20 years of its handover to China from Britain.She is Hong Kong’s first female leader. The Chinese president warned against “impermissible” challenges to Beijing’s authority.

2. International Day of Cooperatives 2017: International Co-operative Day is an annual celebration of the co-operative movement observed on the first Saturday in July since 1923 by the International Co-operative Alliance. The theme for the 2017 International Day of Cooperatives is Co-operatives ensure no-one is left behind.

OTHER UPDATES:

BUSINESS AND ECONOMY:

1. SN Subrahmanyan new CEO & MD of Larsen & Toubro: SN Subrahmanyan has been appointed as the CEO and managing director(MD) of Larsen & Toubro. He replaced AM Naik, who will continue as Non-Executive Chairman for three years.