Daily GK Updates - 12th July, 2017

NATIONAL UPDATES:

1. HAL signs MoU with Defence Ministry: Hindustan Aeronautics Limited (HAL) came into an agreement with the Ministry of Defencefor the financial year 2017-18. The annual MoUis signed between Ashok Kumar Gupta, Secretary, Department of Defence Production and T SuvarnaRaju, CMD-HAL.The MoU has outlined targets on various performance parameters of the company during the year 2017-18. The revenue from operations has been targeted at Rs. 17,900 crore, the highest ever.

2. Chhattisgarh govt to merge regional Co-operative Banks into State Co-Operative Bank: The Chhattisgarh state govt. is set to merge all regional Co-Operative Banks into a mega-State Co-Operative Bank.The 264 branches will remain functional and will here on work as Scheduled Co-Operative Banks.The decision has been taken to provide a number of advantage to farmers as will get modern facilities including core banking, mobile and internet banking. It will also help in reducing the interests on farm loans by up to 2%.

3. 36th Foundation Day of NABARD celebrated: The 36th NABARD Foundation Day and Silver Jubilee of SHG Bank Linkage Programme was inaugurated by Union Finance Minister Arun Jaitley, in New Delhi. Self Help Group Bank Linkage Programme (SHG BLP) is a pioneering initiative of Financial Inclusion by NABARD. The pilot stage of this program was started in year 1992.

4. Maharashtra, first state in the country to launch free injectable contraceptive for women: The state’s public health department launched a program called “Antara” making it the first state in the country to provide women an injectable contraceptive for free. It offers women an injection of Medroxyprogesterone acetate (MPA), a birth-control hormone. The announcements were made on the occasion of World Population Day (11th July). According to state health officials, the injection, a safe means of birth control, is effective for three months. The injection will be given intramuscularly to women in the age bracket of 18-45 years.

5. Subhash Garg appointed as Economic Affairs Secretary: Senior bureaucrat Subhash Chandra Garg assumed charge as Secretary of the Department of Economic Affairs (DEA) in the Finance Ministry. Prior to this appointment Mr. Garg was World Bank Executive Director for Bangladesh, Bhutan, India, and Sri Lanka. He succeeds Shaktikanta Das, who retired after an extended tenure on May 31.

6. Debi Prasad Dash takes over as DRI chief: Debi Prasad Dash has been appointed as director-general of the Directorate of Revenue Intelligence (DG-DRI), the premier agency that tackles smuggling and black money. Mr. Dash was the acting DRI chief for the past five months. He has earlier worked in the UN Security Council, Commonwealth Secretariat, and the CBI.

OTHER UPDATES

BANKING AND FINANCE:

1. SEBI amends guidelines for foreign investors looking to operate at IFSC: Markets regulator Securities and Exchange Board of India (SEBI) has revised the guidelines for eligible foreign investors looking to operate at the International Financial Services Centre (IFSC). From now onwards a trading member of a stock exchange in the IFSC can carry out the due diligence for an eligible foreign investor (EFI), who is not registered with the regulator as a Foreign Portfolio Investor (FPI).The provision has been made for the account opening process of an eligible foreign investor (EFI).

2. Bank of Baroda to raise up to Rs 3,000 Cr via Basel III bonds: Bank of Baroda (BoB) has decided to raise up to Rs. 3,000 crores through Basel III compliant bonds.The finance committee of the bank approved to the issuance of AT-1 capital bonds compliant with Basel III capital regulations for a minimum amount of Rs. 500 crores with green shoe option.The raising of funds will be in single or multiple tranches.

3. SBI waives charge on IMPS fund transfer of up to Rs 1,000: State Bank of India (SBI) has waived charges for fund transfer of up to Rs. 1,000 through its IMPS (Immediate Payment Service) to promote small transactions.Earlier, SBI had been charging Rs. 5 along with the applicable service tax for IMPS fund transfer of up to Rs. 1,000.For IMPS, a charge will be Rs. 5 along GST for fund transfer in the range of Rs. 1,000 to Rs. 1 lakh and the charge will go up to Rs. 15 for transactions of Rs. 1-2 lakhs.GST at the rate of 18% is applicable on all financial transactions.

SPORTS

4. Ravi Shastri is new coach of Indian Cricket Team: All-rounder and captain Ravi Shastrihas been appointed as the new chief coach of the Indian cricket team till ICC World Cup 2019 by the Board of Control for Cricket in India (BCCI).Former fast bowler Zaheer Khan has also been appointed as bowling coach for a period of two years. Former Indian Captain Rahul Dravid has been appointed as batting consultant for specific overseas tours.

Daily GK Updates - 11th July, 2017

NATIONAL UPDATES:

1. UN report says India set to become the most populous country, largest producer of milk and wheat by 2026: According to a report by the UN and OECD, India projected to be the most populous country over the next decade. By 2026,India will be the world’s largest milk producer and will account for the biggest increase in wheat production globally. Milk production in India will grow 49% in 2026 and India will be the world’s largest milk producer.

2. Finance Minister Arun Jaitley launches new taxpayer service module Aaykar Setu:  Aaykar Setu will enable the Income tax Department to directly communicate with the taxpayers and aimed at providing information on useful tax services. It compiles various tax tools, live chat facility, dynamic updates, and important links to various processes within the Income Tax Department in a single module.

3. Mother Teresa’s Blue-Bordered Sari declared an Intellectual Property: The famous Blue bordered sari of Mother Teresa has been as an Intellectual Property of the Missionaries of Charity and obtained a “distinctive symbolic identity”. This is the first time that a uniform has been made the intellectual property.   

4. Government to organize Global Food Fair in November: The Union Govt. will organize a three-day international fair World Food India 2017 in 3 to 5 November to boost the food sector. It will provide a platform to Indian farmers and manufacturers to promote their products and explore partnerships with foreign companies, organized by the Food Processing Ministry. It aims at creating India a Global Food Factory and Global Food Retail Market.

International UPDATES:

1. Eighth Meeting of SAARC Ministers of Law & Order begins in Colombo: The three-day Eighth meeting of the SAARC Ministers of Law and Order preceded by meeting of the SAARC Secretaries of Law and Order and Immigration Authorities has begun in Colombo, Sri Lanka. Tackling terrorism apart from discussing liberalization of visa, illegal trafficking in narcotic drugs, psychotropic substances, and small arms will be topics for discussion.

2. Khaltmaa Battulga elected as Mongolian president: Martial Arts expert and Mongolian Businessman Khaltmaa Battulga sworn-in as president, promising to revive the flagging economy and pursue relations with countries outside its giant neighbours Russia and China.

3. Indian-origin man Guruswamy Jayraman awarded Australia’s highest civilian award: The highest civilian award Order of Australia has been awarded to Indian origin man Guruswamy Jayraman for community work in Australia.

4. World Population Day being observed today: To increase the awareness of the people towards the worldwide population issues, World Population Day was observed across the world on 11th July. The theme of this year is “Family Planning- Empowering People, Developing Nations”. The theme highlights the importance of family planning as it allows people to attain their desired number of children and determine the spacing of pregnancies.

OTHER UPDATES:

BANKING AND FINANCE:

1. RBI amends order on bankruptcy action on 12 large NPAs: An amendment has been made by the Reserve Bank of India on its earlier order asking banks to initiate bankruptcy proceedings against 12 companies which have outstanding loans amounting to over Rs 5,000 crore as on March 2016. The amendment, made through a notification, comes after the Gujarat High Court asked the RBI to remove the stipulation on its order last month that the 12 non-performing assets (NPAs), or bad loans, would be granted priority at the National Company Law Tribunal. Essar Steel, one of the 12 large NPAs identified by the RBI, had approached the Gujarat High Court for the RBI proceedings.

SPORTS:

2. P V Sindhu bags ‘Sportsperson of the Year’ award: During the Maruti Suzuki Sportsperson of the Year Charity Gala Awards, P V Sindhu was bestowed with the Sportsperson of the Year  award. Sindhu’s coach P Gopichand received the Coach of the Year award while the Flying Sikh Milkha Singh was given the Living Legend of the Year award.  Young India cricketer K L Rahul, who made a mark in the last Test series against Australia, was awarded ‘Game changer of the Year’ award while Abhinav Bindra was given the Lifetime Achievement Award.

OBITUARIES:

3. Renowned cartoonist Mangesh Tendulkar passes away:A very well-known cartoonist Mangesh Tendulkar passed away at a hospital in Pune.  His cartoons about government offices and on traffic rules very famous.Tendulkar also wrote some books like Bhuchchkra, Pocket Cartoons and Sunday Mood.

Daily GK Updates - 10th July, 2017

NATIONAL UPDATES:

1. Ministry of Housing and Urban Affairs launched: Government has merged the urban development and housing and urban poverty alleviation ministries. It will now be known as Ministry of Housing and Urban Affairs (MoHUA). The merger will create synergy, better coordination and planning between housing and urban infrastructure projects.

2. GST intelligence agency gets Joseph as the new chief: Senior bureaucrat John Joseph has been appointed as the Director General of Goods and Services Tax Intelligence (DG GSTI). DG GSTI is the new name given to Directorate General of Central Excise Intelligence, mandated to check service tax and central excise duty evasion.

3. Free Surgery Scheme at Private Hospital for Delhiites: Citizens of Delhi who are unable to have surgeries at any govt hospital can now get free surgery in 48 private hospitals bill of which will be paid by Delhi govt. Govt would facilitate 52 specified surgeries free of cost at private hospitals. This facility will be provided only if the government hospitals are not able to give required treatment in 1 month.

4. First Maize Based Mega Food Park in Punjab: Union Minister of Food Processing Industry laid the foundation stone for First Maize based Mega Food Park in Kapurthala, Punjab. Mega Food Park is an inclusive concept and a scheme of the Ministry of Food Processing of the Government of India, aimed at establishing a "direct linkage from farm to processing and then to consumer markets" through a network of collection centres and primary processing centres.

5. Scheme for IPR Awareness - Creative India; Innovative India launched: Taking forward the National Intellectual Property Rights (IPR) Policy 2016, a 'Scheme for IPR Awareness - Creative India; Innovative India' has been launched by Cell for IPR Promotion and Management (CIPAM) under the aegis of the Department of Industrial Policy and Promotion. The Scheme aims at raising IPR awareness amongst students, youth, authors, artists, budding inventors and professionals to inspire them to create, innovate and protect their creations and inventions across India.

International UPDATES:

1. UNHCR calls for Citizenship for Myanmar Rohingyas: UN High Commissioner for Refugees Filippo Grandi has called for granting citizenship to Myanmar’s Muslim Rohingya minority. The Rohingya have long been denied citizenship, freedom of movement and basic rights in Myanmar, where they are often seen as illegal immigrants from Bangladesh.

2. Iraq declares victory over ISIS: Iraq’s prime minister, Haider al-Abadi, has declared victory over Islamic State forces in Mosul after months-long of bitter fighting. The city had been the last major urban stronghold Isis held in Iraq, and defeat there pushes the group back towards its insurgent roots. Victory in Mosul is still both a strategic and symbolic milestone for Iraqi fighters backed by US-led coalition forces.

Okinoshima gets World Heritage status

3. A sacred island in south-west Japan “Okinoshima” has been declared a UNESCO world heritage site: Women are banned on the islands while men have to take off their clothes and undergo a cleansing ritual before setting foot on the island. Only 200 visitors are allowed each year.

OTHER UPDATES:

SPORTS

1. Youngest winner of professional golf event: 14 years old amateur Atthaya Thitikul has become the youngest known winner of a professional golf tour event with victory at Ladies European Thailand Championship. She defeated Ana Menendez of Mexico.

2. Valterri Bottas wins Austrian Grand Prix: Mercedes’ Formula One driver Valtteri Bottas has won the 2017 Austrian Grand Prix. Bottas finished ahead of Sebastian Vettel and Daniel Ricciardo, who finished second and third respectively.

3. Gokulnath becomes first Indian to finish toughest cycle race RAAM: The 35-year-old Gokulnath became the first Indian to complete the 4,900 kilometer RAAM (Race Across America) in the solo category. A solo rider has 12 days to finish the race and has to ride over 400 kilometers a day to finish it in given time. Sleep is for under 3-hours a day.

3. Raninder Singh re-elected NRAI president: Raninder Singh has been re-elected as president of the National Rifle Association of India  for another 4 year term.

BUSINESS & ECONOMY

4. Bharti Airtel launches Project Next, to invest Rs. 2000 crores: Bharti Airtel has launched “Project Next” to deliver all services across touch points in a seamless digital way. The company plans to invest up to Rs 2000 crore over the next 3 years under the new project to launch new digital innovations.

5. Crypto currency expert Amit Bharadwaj launches e-book: An e-book ‘Cryptocurrency for Beginners’, which seeks to provide context and clarity on cryptocurrencies (like bitcoin) has been launched by Amit Bharadwaj. This is his third book in the series, after ‘Cryptocurrency Trading for Beginners’ and ‘Cryptocurrency Mining for Beginners’.

Daily GK Updates - 9th July, 2017

NATIONAL UPDATES:

1. Ahmedabad declared as India’s first World Heritage city by UNESCO: The 600 year old Walled City of Ahmedabad has been declared as India’s first World Heritage City. Delhi and Mumbai were also among the race. Ahmedabad’s nomination received huge support from 20 countries for the peaceful co-existence of Hindu, Islamic, Jain communities in Walled City area.

2.  Defence Ministry names two former Army chiefs in Adarsh Scam: Former Army chiefs, General N.C.Vij and General Deepak Kapoor have been named for their complicity on Adarsh Housing Society scam in Mumbai.  The Adarsh housing society, a 31-storey apartment complex in a prime location in south Mumbai, was meant for the families of Kargil war veterans but several top politicians, bureaucrats and military officers became the of owners of apartments in the complex.

3. Home Minister Rajnath Singh assures Sikkim of safety of NH10: Union Home Minister Rajnath Singh today assured the Sikkim government that the Centre will ensure the security of national highway 10, the lifeline of the landlocked state, which is facing crisis of essential commodities in the wake of protests and counter-protests over the demand for Gorkhaland in neighbouring West Bengal.

4. Digital initiatives over e-education launched: President Mukherjee launched 3 digital initiatives – Swayam, Swayam Prabha and National Academic Depository to push e-education in the country. Aim of the initiatives is to raise the Gross Enrollment Ratio in  higher education from 24.5 to 30 by 2020. Swayam will host courses taught in classrooms from Class 9th to post-graduation, which can be accessed by anyone, anywhere at any time.

5. Beef detection kit developed by Maharashtra: Directorate of FSL in Maharashtra has developed a portable kit which can determine if a meat sample contains beef or not. If meat sample fed into the kit is beef, the sample turns yellow and will be sent for further confirmation to FSL. Cow Meat Detection ELISA Kit can provide results within 30 mins. It will help police secure more convictions in cases of beef possession or transportation.

6. Lower berth in 3AC coach to be reserved: Indian Railways has fixed quota for ‘Divyangs’ in 3AC of mail and express trains to make the journey hassle-free. A lower berth in 3AC coach will be reserved for Divyangs. Currently, there is a provision for lower berth quota in sleeper class only. In order to facilitate smooth entry into platforms, all stations are being made accessible for differently-abled passengers.

International UPDATES:

1. IMF Chief calls for removing barriers and reducing subsidies at G20: IMF Chief Christine Lagarde has asked the members of G20 to reduce trade barriers and subsidies to step up trade.She called for urgent action to strengthen global growth and build inclusive economies while keeping away from complacency.

2. India new global growth pole, to keep lead over China says Harvard: According to the study conducted by Harvard University’s Centre for International Development, the growth projections say that India will feature on the top of the list of fastest growing economies till 2025.The annual growth rate will be 7.7 percent.

3. Battulga wins Presidential election in Mongolia: Former martial arts star and businessman Khaltmaa Battulga has won Mongolia’s presidential run-off election. Battulga of the Democratic Party won with 50.6% of the vote on a 60.9% turnout and defeated Miyeegombo Enkhbold of the ruling Mongolian People’s party.

4. Nepal, China ink border security deal: Nepal and China have signed an agreement to set up a border law enforcement centre to manage and curb border related crimes while respecting each other’s sovereignty. The aim of establishing the centre is to co-operate each other on the border security management and to curb border related crimes.

OTHER UPDATES:

SPORTS

1. Indian women hold South Africa in Hockey World League: Brilliant goalkeeping by Savita saw India hold hosts South Africa 0-0 in their first match of the Women’s Hockey World League Semi Final in Johannesburg. India will take on USA next.

BANKING & FINANCE

2. India to join New GXFC: India will soon get a seat on the Global Foreign Exchange Committee. It is a newly-constituted forum of central bankers and experts working towards promotion of a robust and transparent forex market. Committee has been set up under the guidance of the Bank for International Settlements. GXFC will seek to promote collaboration and communication among local foreign exchange committees.

BUSINESS & ECONOMY

3. Oracle opens its first Digital Hub: Oracle has launched its first Digital Hub in Asia Pacific region in Bengaluru. Hub would provide cloud computing technology & resources to small & medium businesses to empower them in their digital transformation. There will be 5 hubs across Asia Pacific, India is the 1st hub, other 4 hubs will come up in Sydney, Singapore, Seoul and Beijing.

Daily GK Updates - 8th July, 2017

NATIONAL UPDATES:

1. Government to end dual MRP practice from 1st January 2018: In order to protect the consumers from paying different prices at different locations, Union Ministry of Consumer Affairs has amended Legal Metrology (Packaged Commodities)Rules 2011. Pre-packed commodities will be regulated across the country under this newly amended rule.This rule will come into effect from 1st January 2018 and will ensure that the prices of product to not vary, no matter where they are purchased, i.e. the prices of commodities will be similar, whether they are purchased at a local shop, mall, 5 star hotels or airports.

2. India and Bangladesh have decided to construct bridge along Mizoram Border: India and Bangladesh have decided to construct a bridge over Mizoram’s Khawthlangtuipui river (also known as Karnaphuli river) to facilitate trade and to improve communication between the two countries. The decision was taken after officials from both the side met at Tlabung town in Mamit district of Mizoram.

3. “JIGYASA” – Student-Scientist connect Programme: Jigyasa, a student- scientist connect programme has been launched by the government in New Delhi. The programme would be implemented by the Council of Scientific and Industrial Research (CSIR) in collaboration with Kendriya Vidyalaya Sangathan (KVS).

4. India plans to invite Leaders of ASEAN countries for 2018 Republic Day celebrations: India has planned to invite the ten leaders of the Association of Southeast Asian Nations (ASEAN) as Chief Guests for 2018 Republic Day celebrations. This Plan has come at a time when India is engaged in a stand-off with China in the Sikkim sector. If invited Republic Day 2018 would be the first Republic Day event that will have so many leaders as the chief guests.

International UPDATES:

1. BRICS Informal Leader’s Meeting held in Hamburg:The Informal Leader’s Meeting of the 5 BRICS countries was held in Hamburg, Germany, on the sidelines of G20 summit. The meeting was held in run up for the upcoming 9th BRICS Summit, which will take place in Xiamen, China in September.

2. UN approves treaty to ban Nuclear Weapons: At the United Nations Headquarters in New York, the Nuclear Weapons ban treaty was adopted by 122 countries. Netherlands was the only country, which took part in the discussion and voted against the treaty, despite having US Nuclear Weapons on its territory.The 10 page treaty, known as Treaty on Prohibition of Nuclear Weapons, will be open for signature by any member state from 20th September, during the annual General Assembly. It would enter into legal force 90 days after being ratified by 50 countries.

3. WHO appoints Saima Wazed Hossain as the Goodwill Ambassador for Autism: A globally renowned champion for the cause of Autism spectrum disorder, Salma is appointed as the Goodwill Ambassador for Autism in the South-East Asia region for a period of 2 years. She will will be promoting the Thimphu Declaration, which also emphasises integrating the needs of autism-affected people into national health and socioeconomic development plans, as a part of her role as Goodwill ambassador.

4. US - Russia sign agreement for ceasefire in South-West Syria:US President Donald Trump’s signed the agreement with Russian President Vladimir Putin for ceasefire in South-West Syria, concluding the first meeting.As per US Officials and Jordanian government (which is also involved in this deal), the cease-fire will go into effect on Sunday at noon Damascus time.

5. Intelsat 35e successfully launched by SpaceX: Intelsat 35e was lifted off by Falcon 9 rocket from Kennedy Space Center’s Launch Complex 39A and placed into the Geostationary Transfer Orbit (GTO). This satellite is the 4th addition to Epic High Throughput Satellite (HTS) constellation of Intelsat and aims to meet the requirement of wireless backhaul, Direct to home (DTH) transmissions, government applications and, mobility services of Caribbean, Europe and Africa. This marks the third launch of SpaceX in less than 2 weeks, first being BulgariaSat and second Iridium.

OTHER UPDATES:

SPORTS:

1. Harinder Pal Sandhu Wins South Australian Open Squash Title: India’s Harinder Pal Sandhu has defeated Rhys Dowling of Australia 11-8 12-10 11-4 to lift South Australian Open squash title. This will be Sandhu’s first PSA tournament victory in Australia.

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.