Daily GK Updates - 7th August, 2018

NATIONAL UPDATES:

1.Government appoints 2 members to CBDT : The government appointed two members, Aditya Vikram, IRS (IT) 1981 batch & Pramod Chandra Mody, IRS (IT) 1982 batch, as members in the Central Board of Direct Taxes (CBDT).Their names were cleared by the Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi.CBDT is the apex policy-making body for income tax.

2. MoA signed for funding Irrigation Projects : A revised Memorandum of Agreement (MoA) has been signed amongst Government of India, NABARD and National Water Development Agency.The MoA was signed to fund the central share of 99 prioritized irrigation projects under Pradhan Mantri Krishi Sinchayee Yojana (PMKSY).Under PMKSY, 99 ongoing irrigation projects were identified for completion in mission mode by December​ 2019.

 3.Thermal battery plant unveiled in Andhra : India became home to the world’s first-ever thermal battery plant, that was inaugurated in Andhra Pradesh on 6 August 2018.The thermal battery facility is owned by Bharat Energy Storage Technology Private Limited.Thermal batteries use thermal energy to operate, i.e., the energy created by temperature differences.

4. Govt extends e-visa facility to 165 countries : Seeking to promote tourism, the government has extended e-visa facility for citizens of 165 countries at 25 airports and five seaports.The government has launched the ‘Incredible India 2.0’ campaign, marking a shift from generic promotions to market-specific promotional plans.

A 24X7 toll free multi-lingual tourist helpline has also been put in place as part of the efforts.

 5. 3-judge SC Bench to hear Article 35A issue : Chief Justice of India Dipak Misra orally observed that the Supreme Court will consider whether Article 35A is violative of the basic structure of the Constitution.Article 35A gives special status to the State and people of Jammu and Kashmir.The basic structure is a collective term coined by a 13-judge Bench in the historic Keshavananda Bharati case.

6. Kannada writer Sumatheendra Nadig no more : Well-known Kannada poet and critic Sumatheendra R. Nadig passed away in Bengaluru on 7th August 2018.He was an important name in the modernist literary movement in Karnataka in the 60s and 70s.He also headed the National Book Trust.His important works include ‘Daampatya Geeta’ and ‘Panchabhoota’, collection of verses, besides critical works on Da.Ra. Bendre and Gopalakrishna Adiga.

7. NGT forms panel to monitor Ganga cleaning : The National Green Tribunal (NGT) constituted a committee for monitoring the rejuvenation project of Ganga from Haridwar to Unnao in Uttar Pradesh.The committee will be headed by a former Allahabad High Court judge.NGT has asked Chief Justice of Allahabad High Court to nominate a former judge who will head the committee.

INTERNATIONAL UPDATES:

1.U.S. sanctions against Iran back in effect : The first set of U.S. sanctions against Iran that had been eased under the landmark nuclear accord have gone back into effect.An executive order by President Donald Trump reimposed the sanctions on financial transactions that involve U.S. dollars.U.S sanctions targeting Iran’s oil sector and central bank are to be reimposed in early November 2018.

2. Lithium-rich giant star discovered : Chinese scientists have discovered the most lithium-rich giant star ever known.The star has a mass almost 1.5 times our sun.The star is in the direction of Ophiuchus, north side of the Galactic disk, with a distance of 4,500 light years to Earth.The findings were realised with the help of The Large Sky Area Multi-Object Fiber Spectroscopic Telescope (LAMOST) located in northern China.

OTHER UPDATES:

BUSINESS/ECONOMY:

1.Indra Nooyi will step down as CEO : Indra Krishnamurthy Nooyi will step down as the CEO of PepsiCo after 12 years in the position.Under her, PepsiCo began focussing on products that include fruits, vegetables,whole grains, nuts, and gave an emphasis on less sugar and fat.Ramon Laguarta will succeed Ms. Nooyi as CEO.Ms. Nooyi will step down as CEO on October 3, but will remain Chairman until early 2019.

DEFENCE:

1. Indo – Thailand Joint Exercise Maitree 2018 : Exercise Maitree is a joint military exercise between Indian Army and Royal Thai Army which started on 6 August and will end on 19 August 2018 in Thailand.It is a platoon level exercise which comprises of infantry component.The exercise will emphasize to hone the tactical and technical skills in joint counter insurgency and counter terrorist operations in rural and urban scenario.

SCIENCE AND TECHNOLOGY:

1. P is for Pie: Android’s latest version : Google launched the latest version of it’s Android operating system — Android Pie.Android Pie mostly focuses on behind-the-scenes improvements designed to make Android phones work faster while saving precious battery life.An over-the-air update to Android 9 will begin rolling out to Google’s Pixel phones.

Daily GK Updates - 6th August, 2018

NATIONAL UPDATES:

1.Startup India’s Academia Alliance Programme : To fulfil the Government of India’s mission to promote the spirit of entrepreneurship in the country, Startup India launched the “Startup Academia Alliance programme”.The programme is a unique mentorship opportunity between academic scholars and startups working in similar domains.The programme aims to reduce the gap between scientific research and its industrial applications.

2. Fugitive Offenders Bill gets president’s nod : President Ram Nath Kovind has given assent to the Fugitive Economic Offenders Bill, 2018, that will deter offenders to evade legal process in India and flee the country.The bill was passed by the Rajya Sabha on 25 July 2018 and by the Lok Sabha on 19 July 2018.The Bill allows designated special court to declare a person as fugitive economic offender and and to confiscate his property.

3. Mughalsarai Junction renamed : The iconic Mughalsarai Railway Junction in Uttar Pradesh has been renamed as Deen Dayal Upadhyaya Junction Railway station.A passenger train with an all-women crew and a goods train was also flagged off. Railway officials said it will be the first time in the country that an all-woman crew will run a train.

4. Guj to implement Ayushman Bharat programme : Gujarat government will implement the Centre’s Bharat Ayushman programme which is expected to roll out across the country this August 2018.The Ayushman Bharat- National Health Protection Scheme aims to provide medical coverage to over 10 crore poor families.The medical coverage is up to 5 lakh rupees per family per year for secondary and tertiary care hospitalisation.

5. Govt approves projects under ‘IMPRINT-2’ : Government has approved 122 new research projects of 112 crore rupees under its Impacting Research Innovation and Technology ‘IMPRINT-2’ scheme.The initiative aims to advance research in energy, security, and healthcare domains in the higher education institutions.IMPRINT is MHRD supported Pan-IIT and IISc joint initiative to address the major science and engineering challenges.

6. Scheme for girl child launched : Bihar CM Nitish Kumar launched the ‘Mukhyamantri Kanya Utthan Yojana’.The ambitious scheme will provide Rs. 54,100 from the birth of a girl child till she graduates.The ‘Mukhyamantri Kanya Utthan Yojana’ will be run by three departments — education, health and social welfare.Over 3.12 lakh girls will be covered under the scheme in the current financial year.

INTERNATIONAL UPDATES:

1.China successfully tests hypersonic aircraft : China has successfully tested its first cutting-edge hypersonic aircraft, ‘Xingkong-2’ or Starry Sky-2.The aircraft could carry nuclear warheads and penetrate any current generation anti-missile defence systems.The hypersonic aircraft was designed by the China Academy of Aerospace Aerodynamics in collaboration with the China Aerospace Science and Technology Corporation.

2. Russia appoints Steven Seagal as US envoy : Russia has appointed martial artist and action film star Steven Seagal as a special envoy to improve ties with the United States.His responsibility will be to “facilitate relations between Russia and the United States in the humanitarian field, including cooperation in culture, arts, public and youth exchanges.”Seagal was also granted Serbian citizenship in 2016.

3. China launches exascale supercomputer : China has operationalised a prototype exascale computing machine, the next-generation supercomputer.The Sunway exascale computer prototype was put in operation on 5th August 2018 and helps to execute a quintillion calculation per second.The exascale computer is expected to be built in the second half of 2020 or the first half of 2021

OTHER UPDATES:

DEFENCE:

1.Defence India Startup Challenge launched : Defence Minister Nirmala Sitharaman launched defence India startup challenge in Bengaluru.The highlight of the event was the launch of 11 challenges by MoD now thrown open to provide solutions in the startup ecosystem.The launch of challenges will provide the fillip to the innovation potential in the country, partnering with the best minds nationally and internationally.

2.  task force for making aircraft, UAVs formed : The Government of India has set up two task force to prepare the roadmap for manufacturing aircraft and unmanned aerial vehicles in India.One committee will explore the possibility of manufacturing aircraft in India.The other committee will explore the possibility of manufacturing unmanned aerial vehicles (Drones) in India.

SPORTS:

1. Momota 1st Japanese man to win Gold at BWF : Kento Momota became the first Japanese man to win the Badminton World Championships.Kento Momota of Japan defeated Shi Yuqi of China in the men’s final at the Badminton World Championships.Momota has won nine of 13 tournaments he has entered since returning from a 15-month gambling-related suspension.

2. Kuznetsova wins Washington WTA title : Svetlana Kuznetsova defeated Croatia’s Donna Vekic and won her 18th career Women’s Tennis Association (WTA) title at the Washington Open.Svetlana Kuznetsova is ranked 128th in the world.Kuznetsova, the winner of the 2004 US Open and 2009 French Open, claimed a second Washington title to go with the one she won in 2014.

3. Netherlands won women’s hockey world cup : In Women’s hockey world cup, the Netherlands have been crowned the world champions for a record eighth time.Spain won the third-place match by beating Australia to claim their first ever World Cup medal.India finished the tournament at the 8th spot.

Daily GK Updates - 5th August, 2018

NATIONAL UPDATES:

1. 10,000 jobs to be created under NHPS : 10,000 new jobs will be created with the implementation of the Centre’s ambitious Ayushman Bharat-National Health Protection Mission (AB-NHPM), provides a cover of Rs 5 lakh per family annually to 10 crore poor families.Health Ministry has signed a pact with the Skill Development Ministry for the recruitment of 1 lakh‘Ayushman Mitras’ and will be deployed at Govt & Private hospital .

2. India to be power Surplus : CEAIndia is likely to experience an energy surplus of 4.6% and peak power surplus of 2.5% in the fiscal year through March 2019, the authority has said in its annual publication Load Generation and Balance Report. Tripura, Himachal Pradesh, and Sikkim are expected to witness peak time power surplus of more than 30 %.Punjab, Bihar, UP, Assam, and J&K to have peak power deficit more than 15%.

3. PM Modi to launch IPPB on Aug 21 : PM Modi on August 21 will launch India Post Payments Bank that will have at least one branch in every district and focus on financial services in rural areas.Two branches of the bank are already operational in Ranchi and Raipur.IPPB will go live with 650 branches,3,250 access points co-located at post offices and 11,000 postmen both in rural and urban area for doorstep banking services.

4. NABARD Sanctions Rs772 crore in Haryana : NABARD has sanctioned Rs 722 crore for eight water projects in the rural areas of Haryana, state Minister for Public Health Engineering Banwari Lal.Works on these projects will supply water to 256 villages and 72 hamlets, are in progressThe state government was getting financial assistance from the National Capital Region Planning Board to modernize the sewerage system in urban areas

5. Anurag Sachan appointed as MD of DFCCIL : Anurag Sachan appointed as Managing Director of Dedicated Freight Corridor Corporation of India Ltd. (DFCCIL).Sachan, a 1981-batch officer of Indian Railway Service of Engineers (IRSE), is at present Chief Administrative Officer of Udhampur-Srinagar-Baramulla rail link project.DFCCIL is a special purpose vehicle set up under the administrative control of the Ministry of Railways.

6. First intertidal art gallery in Maldives : World’s first intertidal art gallery called Coralarium is located at the Fairmont Maldives Sirru Fen Fushi resortIt filled with around 30 sculptures acting as a habitat for coral and other marine speciesThe frame of the gallery is made of pH-neutral marine steel and designed to reflect the blue hues surrounding it.Designed by British sculptor Jason deCaires Taylor.

INTERNATIONAL UPDATES:

1. Ajay Data, first Indian in ICANN : Ajay Data has got a two-year term and will take up the position during ICANN 63 Meet in Spain in October 2018.Ajay Data is the first Indian to have been selected as a member of ccNSO and will be representing India at a global level.He will be the custodian of Asia, Australia and Pacific Islands as a member of ccNSO.ccNSO of the ICANN is the policy-development body for global issues.

2. India,Sri Lanka to hold talks : India, Sri Lanka to hold the 10th round of talks to widen the scope for free trade agreement; negotiations likely to conclude by December.The pact is aimed at further boosting the economic ties between the two countries by liberalizing trade norms.India and Sri Lanka have a free trade agreement in goods and was implemented in March 2000

3. Sushma Swaraj meets Kyrgyzstan counterpart : External Affairs Minister Sushma Swaraj held talks with her Kyrgyzstan counterpart, Erlan Abdyldaev.The discussion was on deepening cooperation in trade, energy, defense, security and other areas. Swaraj is on a three-nation tour to Kazakhstan, Kyrgyzstan and Uzbekistan as part of India’s efforts to boost strategic partnership with the resource-rich nations.

OTHER UPDATES:

BANKING/FINANCE:

1. Bank collected 5000 Crores from Customer : 21 public sector banks and three major private sector lenders collected  Rs 5,000 crore from customers for non-maintenance of minimum balance in their accounts in 2017-18.SBI was charging the penalty till 2012, reintroduced it from April 1,2017. SBI reduced charges from October 1, 2017Accounts under BSBD scheme Pradhan Mantri Jan Dhan Yojna are not required to maintain any minimum balance.

2. HDFC Life inks pact with Vijaya Bank : HDFC Life Insurance Company inked a pact with Vijaya Bank to sell insurance products.The tie-up between the insurer and the lender will ensure a greater reach and penetration through 2,129 branches of the bank spread across the country. HDFC Life operates through 163 bancassurance partners.Sankara Narayanan is MD & CEO of Vijaya Bank.

DEFENCE:

1. HAL’s Light Combat Aircraft under IAF : The government is poised to hand over control of the Bengaluru division of State-owned Hindustan Aeronautics Limited (HAL) to the Indian Air Force (IAF).This comes as the next phase of the LCA project, development of the MK2 variant, as well as the country’s next fighter aircraft programme, the Advanced Medium Combat Aircraft (AMCA), begin to take shape.

SPORTS:

1. Fabio Fognini topples Juan Martin : Fabio Fognini defeated Juan Martin Del Potro in final of Los Cabos Open.Fabio Fognini captured his first career hardcourt title on Saturday, surprising Juan Martin del Potro 6-4, 6-2, in the final of the ATP Los Cabos Open.It is the 31-year-old Fognini’s eighth ATP Tour victory.This is his third title of 2018 to go with wins in Sao Paulo and Bastad.

2. Kolesnikov win European Title at Glasglow : Kliment Kolesnikov of Russia set a world record for the 50 metres backstroke while winning the European Championship title in Glasgow on Saturday.The teenager clocked 24.00 seconds to take 0.04 seconds off the record set by Britain’s Liam Tancock at the world championships in Rome in 2009.He defeated Silver medallist Robert-Andrei Glinta, a former world junior champion, by 0.55 seconds.

3. Sindhu takes silver in Badminton Champ : Carolina Marin became the first woman shuttler to win the world championships thrice.She had won the title in 2014 and the 2015 Jakarta edition. Sindhu settled for another white metal following a 19-21, 10-21 loss to Marin of Spain in World Badminton Championship.Sindhu’s second successive silver at the World Championships and had won a silver medal in 2017 and bronze medals in 2013,2014.

4. Virat Kohli is the No.1 Test batsman : India captain Virat Kohli  topped the ICC Player Rankings for Test batsmen.Kohli thus became the seventh India batsman, and first since Sachin Tendulkar (in June 2011) to be ranked the number one Test batsman in the latest ICC rankings.At 934 points,Kohli has become India’s highest-ranked batsman, 14th overall, on the all-time tally of points.

Daily GK Updates - 4th August, 2018

NATIONAL UPDATES:

1. The Unending Game by Vikram Sood : “The Unending Game: A Former R&AW Chief’s Insights into Espionage” has been written by Vikram Sood.Vikram Sood is the former head of India’s foreign intelligence agency, the Research and Analysis Wing from 2000 to 2003.The book covers some of the most exciting aspects of intelligence failures and successes.Currently, Sood acts as Advisor to Observer Research Foundation.

2. Uttarakhand HC bans use of elephants : The Uttarakhand High Court banned the commercial use of elephants in Corbett Tiger Reserve besides restricting the number of vehicles entering its ranges in a day to 100.The order came after the court was apprised that elephants were chained and ill-treated causing immense cruelty.The elephants shall be temporarily kept at Rajaji National Park, Chilla.

3. Justice Geeta Mittal woman CJ of J&K HC : Justice Geeta Mittal was appointed as the Chief Justice of the Jammu and Kashmir High Court, becoming the first woman judge in the history to head it.Justice Mittal was till now the Acting Chief Justice of the Delhi High Court.On 3rd August 2018, Sindhu Sharma became the first woman judge of the Jammu and Kashmir HC.

4. Ministers’ panel approves GST discounts: A Group of State Finance Ministers on GST discount gave its nod for incentivising digital payments through a cash back mechanism.As much as 20% of total GST paid up to ₹100 per transaction would be provided as cash back on payments made through RuPay cards, BHIM App and UPI.This move will benefit RuPay card holders as well as BHIM App users.

5. ‘Shor nahin’ mobile app launched in HP : Himachal Pradesh Chief Minister Jai Ram Thakur launched ‘horn not ok’ awareness campaign and ‘shor nahin’ (no noise) mobile application.The ‘shor nahin’ mobile application can be used by the general public to report cases of noise pollution.As part of the first phase, the campaign has been launched in Shimla and Manali

6. 5 crore gas connections under Ujjwala Yojana : Loksabha Speaker Sumitra Mahajan handed over 5 croreth LPG connection under Pradhan Mantri Ujjwala Yojana (PMUY) achieving the target in 28 months.PMUY was launched on 1st May 2016 and it is implemented by Ministry of Petroleum and Natural Gas.Through PMUY, initially, 5 crore BPL households were targeted for providing deposit free LPG connections to BPL households by 31st March 2019

7. Justice Indira’s appointment to SC: The Supreme Court is going to get its third woman judge.The law ministry cleared the appointment of Justice Indira Banerjee, 60, the Chief Justice of the Madras High Court as a Supreme Court judge.Justice Banerjee, 60, is the eighth woman to be ever elevated to the Supreme Court.This is the first time that the Supreme Court will have three woman judges.

INTERNATIONAL UPDATES:

1. First single-chromosome yeast created : Chinese scientists claimed to have created the first single-chromosome yeast while not affecting the majority of its functions.Brewer’s yeast, one-third of whose genome is said to share ancestry with humans, has 16 chromosomes.However, Chinese scientists have managed to fit nearly all its genetic material into just one chromosome.

2. Japan become world’s 2nd largest stock market : Japan has pipped China as the world’s second-largest stock market.The Chinese market was worth $6.09 trillion next to Japan’s $6.17 trillion.Both markets are ranked after the US which is the world’s largest at just over $31 trillion.China lost to Japan after Chinese stocks and currency fell this year amid a trade spat with the US.

3. DG AIR elected AIBD President : The Asia-Pacific Institute of Broadcasting Development (AIBD) on August 3, 2018 elected Fayyaz Sheheryar, Director-General of All India Radio, as its new President.This is the first time India has been elected for the position of president of AIBD.The elections were held at the 44th annual meeting of AIBD in Colombo.AIBD has been established in 1977 under the auspices of UNESCO.

OTHER UPDATES:

BANKING/FINANCE:

1.IDEMIA gets NPCI stamp for RuPay cards : French company IDEMIA has become the first company to be given the certification to manufacture and personalise RuPay chip contact and contactless cards on the qSPARC v2 platform.The qSPARC is a dual interface open loop payment specification, with the option of loading multiple payment applications on a single card.The certification is issued by the National Payments Corporation of India.

2. ‘Umbrella Organisation’ to revive Co-op Bank : India’s co-operative banking sector is set to undergo a transformation with the concept of Umbrella Organisation (UO) of Urban Co-operative Banks (UCBs) to look into the issues plaguing the sector.The Reserve Bank of India (RBI) has allowed non-fund-based umbrella organisations at State levels.Gujarat is the first State in the country to have an UO for the UCB sector.

SPORTS:

1. Rohit Kumar Becomes Fourth Youngest Player : Nepal’s Rohit Kumar Paudel, at 15 years and 335 days, became the fourth youngest One-day International (ODI) cricket debutant.Pakistan’s Hasan Raza remains the youngest to play an ODI. Raza made his debut against Zimbabwe in 1996 aged just 14 years and 233 days.Canada’s Nitish Kumar is third on the list – he was 15 years and 273 days when he played Afghanistan in Sharjah in 2010.

Daily GK Updates - 3rd August, 2018

NATIONAL UPDATES:

1. Karnataka launched “Swachhameva Jayate” : Karnataka government launched “Swachhameva Jayate”, a campaign in rural areas to take a pledge on cleanliness.Logo of the campaign released by Department of Rural Development includes a boy and a girl standing in front of the map of Karnataka.The campaign coincides with the “Swachh Survekshan Grameen” survey by the Ministry of Drinking Water and Sanitation.

2. Justice KM Joseph’s elevated to Supreme Court : The Central Government has approved the elevation of Uttarkhand High Court Chief Justice K.M. Joseph to the Supreme Court, seven months after the SC Collegium’s recommendation.A five-member Supreme Court collegium had recommended K.M. Joseph’s name for the first time in Court in January 2018.The presidential warrants for the appointment will be taken out soon to complete the process.

3. AP launches ‘Mukhya Mantri-Yuva Nestham’ : The Andhra Pradesh government has launched ‘Mukhya Mantri-Yuva Nestham’, a scheme through which an allowance of Rs 1000 per month will be provided to unemployed youth in the state.About 12 lakh youths in the age group of 22-35 years will get the benefit of the scheme.The scheme will be extended to all those eligible even if there are more than one beneficiary in a family.

INTERNATIONAL UPDATES:

1. US cuts off security aid to Pakistan : The United States Congress has slashed the security-oriented financial aid to Pakistan by approving a $716.3 billion defence authorisation bill.The security aid was earlier around $1 billion to $750 million per year.The National Defense Authorization Act (NDAA) for 2019, the security aid to Pakistan has been cut down to $150 million.

2. Jongdari tropical storm hits Shanghai : Downgraded from a typhoon, Tropical Storm Jongdari arrived in Shanghai on August 3, 2018.It is expected to gradually weaken as it moves westward into the Yangtze River delta.Jongdari, which means skylark in Korean and is the 12th typhoon of the season.Jongdari is one of the four Pacific tropical cyclones.More than 130,000 people have been evacuated as a tropical storm arrived Shanghai.

3. Sushma Swaraj meets Kazakhstan counterpart : External Affairs Minister Sushma Swaraj held a comprehensive discussion with her Kazakhstan counterpart Kairat Abdrakhmanov.The discussion was on deepening cooperation in areas like trade, energy and defence and security.Ms. Swaraj is on a three-nation tour to Kazakhstan, Kyrgyzstan and Uzbekistan as part of India’s efforts to boost strategic partnership with the resource-rich nations.

4. Iran officially joins ASEAN treaty : The Association of Southeast Asian Nations (ASEAN) ratified Iran’s membership in the Treaty of Amity and Cooperation in Southeast Asia (TAC).There was a consensus among southeast Asian countries to accept Iran as a party to the treaty.This indicated the significance of interaction with Iran as an important and influential country in regional and international equations.

5. Google to launch censored search engine : Google is developing a new search engine for China that will be in line with the country’s stringent censorship rules.The “revised” search engine, which has been codenamed “Dragonfly” will block western services that are already outlawed in China.Google withdrew its search engine from China eight years ago due to censorship.

OTHER UPDATES:

BUSINESS/ECONOMY:

1. Facebook announces $4.5 mn investment : Facebook will invest an additional $4.5 million towards helping the news industry globally.Earlier, Facebook gave $3.5 million towards ‘Facebook Membership Accelerator’, a three-month pilot programme designed to help news organisations with membership models.The ‘Facebook Membership Accelerator’ will help non-profit news organisations and local, independent publishers.

BANKING/FINANCE:

1. RBI bars Fino Payments Bank : Fino Payments Bank has been barred by the Reserve Bank of India from adding new customers since the end of May 2018.The central bank in its auditing of payments banks in May found Fino Payments non-compliant with the operational guidelines laid down by it.According to RBI’s operating guidelines for payments banks, a customer can make deposits of up to ₹1 lakh per account in a year.

DEFENCE:

1. DRDO develops indigenous landing gear for UAV : An indigenously designed and developed landing gear for the Unmanned Aerial Vehicle (UAV)-Rustom II has been successfully tested.The landing gear developed by a Defence Research and Development Organisation (DRDO) laboratory has undergone low-speed and high-speed taxi trial in Karnataka.Rustom II is a medium-altitude long-endurance UAV designed for carrying out surveillance.

2. Another success for naval LCA : The naval version of the indigenously built Tejas Light Combat Aircraft underwent a series of successful tests to check its capability to land on an aircraft carrier.The Naval LCA is expected to begin touch and go landings on the INS Vikramaditya.Tejas is a four-and-half generation light combat aircraft developed by state-run aerospace behemoth Hindustan Aeronautics Ltd (HAL).

Daily GK Updates - 2nd August, 2018

NATIONAL UPDATES:

1. SAATHI Initiative Launched : Ministry of textiles and Ministry of Power launched SAATHI (Sustainable and Accelerated Adoption of efficient Textile technologies to Help Small Industries) initiative in the power loom sector.Energy Efficiency Services Limited (EESL) will replace old electric motors with new IE3 motors.The use of these efficient equipments will result in energy savings and cost savings to the unit owners.

2. Government extended the CFS : The government extended the Concessional Financing Scheme (CFS) till 2023 to support Indian entities bidding for important infrastructure projects abroad.Under the scheme, the government provides the counter-guarantee and interest equalisation to EXIM bank.Also, the scheme will now cover all Indian entities, compared to the earlier stipulation of minimum 75% Indian shareholding.

3. Cabinet clears changes to GST laws : The Cabinet approved amendments to the GST laws, including the hike in turnover threshold for businesses to avail the composition scheme to Rs 1.5 crore.The amendments will allow employers to claim input tax credit on facilities like food, transport and insurance provided to employees.Besides, businesses with turnover of up to Rs 1.5 crore would be eligible for availing composition scheme.

4. First-ever dragonfly festival in Delhi : The dragonfly festival is being organised from Aug 3 to Sept 1 at World Wide Fund (WWF) auditorium, New Delhi.The aim is to spread awareness about the role of Dragonflies in maintaining a healthy  ecosystem. Festival includes special events like Be a scientist for a day, Date Date with a dragonfly etc. by WWF India and Bombay Natural History Society (BNHS).

5. Javed Akhtar awarded Hindi Sahitya Samman : Eminent personalities from different fields, including Bollywood song writer Javed Akhtar, were presented the Delhi government’s “Hindi Sahitya Academy Samman”.Akhtar was awarded the ‘Shalaka Samman’ for his contribution to the world of films and poetry.Veteran theatre director M K Raina received the ‘Shikar Samman’.

INTERNATIONAL UPDATES:

1. 2 day Indo-US Military Cooperation : A 2-day Indo-US Military Cooperation Meeting began in New Delhi as a prelude to 2 plus 2 Dialogue between the 2 countries.The meeting was co-chaired by Lt Gen Satish Dua, Chief of Integrated Defence Staff to the chairman and Lt Gen Bryan Fenton, Deputy Commander, Indo-Pacific Command.India and the US were also working to have a joint drill of all the three armed forces

2. India and Germany signed agreement : India and Germany signed agreements on financial and technical cooperation worth Rs 5,250 crore within the framework of the Indo-German development cooperation.As part of the cooperation, areas such as infrastructure development, urban mobility and climate relsilience are being promoted.Environmental and resource protection is also one of the funded areas of the cooperation.

3. Akshay Venkatesh gets Fields Medal : Akshay Venkatesh, a renowned Indian-Australian mathematician, is one of four winners of mathematics’ prestigious Fields medal, known as the Nobel prize for math.The Fields medals are awarded every four years to the most promising mathematicians under the age of 40.The prize was inaugurated in 1932 at the request of Canadian mathematician John Charles Fields.

4. UAE launches amnesty scheme for overstayers : The UAE launched a landmark three-month visa amnesty programme that will benefit hundreds of illegal foreign workers, including Indians, who are overstaying their permits.The programme allows the workers to leave the country without paying penalty and also gives them six months to find a job.Also, residents can also rectify their status by getting a new sponsored, valid visa.

OTHER UPDATES:

BANKING/FINANCE:

1. RBI raises rates again by 25 bps : The RBI on 1st August 2018 raised interest rates by 25 basis points, setting its benchmark repo rate at 6.5%.The increase will push up the cost of loans for all borrowers, from consumers looking to finance theirpurchases of homes and cars to businesses looking to meet their capital needs.The RBI retained its forecast for economic growth in the current fiscal year at 7.4%.

DEFENCE:

1. Advanced Air defence interceptor test fired : The advanced Air defence interceptor missile has been successfully test fired from Abdul Kalam Island on 2nd August 2018.The missile has been built with indigenous technology.The missile is being developed as part the Ballistic Missile Defence (BMD) system, which can intercept medium-range ballistic missiles travelling at speeds of Mach 3 to 8.

Daily GK Updates - 1st August, 2018

NATIONAL UPDATES:

1. Startup India Yatra begins in Chhattisgarh : The Startup India Yatra was launched on July 30 2018 in Raipur.To promote job creation in tier 2 and tier 3 towns and cities, Startup India organizes the Startup India Yatra in one state every month.The Startup India initiative envisages to build a robust startup ecosystem in the country for nurturing innovation and providing opportunities to budding entrepreneurs.

2. Largest pan-India rural sanitation survey : The largest pan-India rural sanitation survey will commenced on 1st August 2018 under the Ministry of Drinking Water and Sanitation.It will also rank districts based on their sanitation level.The criteria set for ranking includes construction and use of toilets under the Swach Bharat Mission- Gramin, direct observation of sanitation at public places and feedback from citizens.

3. ONGC won top honours at Swachhta Pakwada : Oil and Natural Gas Corp (ONGC) bagged top honours at the Swachhta Pakwada Awards.Swachhta Pakwada Awards is an oil ministry initiative to honour companies and individuals doing exemplary work in cleanliness.Indian Oil Corp (IOC) bagged the runner-up’s award.The Ministry celebrated Swachhta Pakhwada from July 1, 2018, to July 15, 2018, with the theme ‘Innovation and Sustainability’.

4. Vijay Thakur made MEA Secretary : Indian ambassador to Ireland Vijay Thakur Singh was named as the Secretary (East) in the Ministry of External Affairs (MEA).Singh will take over as the Secretary (East), MEA with effect from October 1, after incumbent Secretary (East) in the MEA Preeti Saran.Vijay Thakur Singh is currently serving as an Ambassador in Dublin, is a 1985 batch officer of the Indian Foreign Service.

5. Rajasthan first to implement biofuel policy : Rajasthan has become the first State in the country to implement the national policy on biofuels unveiled by the Centre in May 2018.The state will lay emphasis on increasing production of oilseeds.It will establish a Centre for Excellence in Udaipur to promote research in the fields of alternative fuels and energy resources.

6. Rajiv Sadbhavana Award for Gopal Gandhi : Former West Bengal Governor Gopalkrishna Gandhi has been chosen for Rajiv Gandhi Sadbhavana Award 2018 for promoting communal harmony and peace.The award carries a citation and a cash award of Rs. 10 lakh.Former recipients of the award include Mother Teresa, Ustad Bismillah Khan, Mohammed Yunus, Lata Mangeshkar, Sunil Dutt, Dilip Kumar, Kapila Vatsyayan, Teesta Setalvad.

7. Lok Sabha passes IBC amendment bill : The Lok Sabha has passed the Insolvency and Bankruptcy Code (Second Amendment) Bill 2018.The Bill amends the Insolvency and Bankruptcy Code, 2016 to clarify that allottees under a real estate project should be treated as financial creditors.Financial creditors will be able to decide the future of defaulting builders alongside their lenders.

INTERNATIONAL UPDATES:

1. Mauritius’s SBM gets RBI approval : Mauritius-based SBM Group has received Reserve Bank of India’s approval to operate in the country through a wholly-owned subsidiary route.It is the first foreign lender to receive such a licence after local incorporation was introduced in 2013.SBM, which has been in India since 1994, currently operates through four branches, in Mumbai, Chennai, Hyderabad and Ramachandrapuram.

OTHER UPDATES:

BUSINESS/ECONOMY:

1.India’s Q1 fiscal deficit at 68.7% : The government of India reported a fiscal deficit of ₹ 4.29 trillion ($62.57 billion) for April-June, or 68.7% of the budgeted target for the current fiscal year 2018-19 compared with 80.8% a year ago.The fiscal deficit target for the current financial year is Rs 6.24 lakh crore.Rs 2.37 lakh crore was the net tax revenue during the April-June quarter.

2. IWAI launches Dedicated Portal for cargo : The Inland Waterways Authority of India (IWAI) launched a dedicated portal to connect cargo owners and shippers with real time data on availability of vessels.Named as the ‘Forum of Cargo-Owners and Logistics-Operators’, the link of the portal is available on the homepage of IWAI.

It has been designed and developed by the in-house IT Department and the Traffic Wing of IWAI

3. Digital payments to touch one trillion dollar : According to the NITI Aayog’s “Digital Payment: Trends, Issues and Opportunities” report, digital payments market in India is set to become a trillion-dollar industry in the next five years.It will be led by growth in mobile payments which are slated to rise to $190 billion by 2023 from $10 billion in 2017-18.This would present huge business opportunities for players in the digital space.

BANKING/FINANCE:

1. Deepak re-appointed as director on HDFC board : Deepak Parekh was re-appointed as a Non-Executive Director on the board of the country’s largest mortgage lender HDFC.HDFC Chairman Parekh secured approval of 77.36% shareholders at the annual general meeting (AGM) of the company.Parekh has been at the helm of HDFC for close to 30 years.