Daily GK Updates - 24th June, 2019

NATIONAL UPDATES:

1. Govt. set up 713 Krishi Vigyan Kendras to double farmers' income by 2022: The Union Government has set up 713 Krishi Vigyan Kendras and 684 Agricultural Technology Management Agencies at the district level in the country for dissemination of technologies among the farming community. This is aimed at meeting the target of doubling the farmers' incomeby 2022. An inter-ministerial committee for the purpose has recommended the use of digital technology to transform and modernize agricultural activities. The technologies include Artificial Intelligence (AI), Big Data Analytics and Block Chair Technology. The Indian Council of Agricultural Research has also compiled over one hundred mobile Apps to help farmers with a specific purpose.

2. NTPC & PGCIL sign MoU to enter Power Distribution Business: The National Thermal Power Corporation Limited (NTPC Ltd) and Power Grid Corporation of India Limited (PGCIL) have signed an agreement to set up National Electricity Distribution Company Limited (NEDCL). As per the agreement NEDCL, it will be a joint venture of NTPC and PGCIL on 50:50 equity basis. The National Electricity Distribution Company Limited (NEDCL) will undertake the business for distribution of electricity in distribution circles in various states/ Union Territories (UTs) and other related activities. This would make the power distribution sector more competitive as separating content and carriage will bring more competition with more than one power supply.

INTERNATIONAL UPDATES:

1. Mohamed Ould Ghazouani elected as the president of Mauritania: Mohamed Ould Ghazouani (62-years) has won Mauritania's presidential election with an absolute majority (52%- votes). His nearest rival, anti-slavery campaigner Biram Dah Abeid, came second with 18.58%. It was the first time Mauritanians voted to elect a successor to a democratically elected president in the West African state. Mohamed Ghazouani is the former general director of the national security and army's former chief of staff (2008–2018). He has been Defence Minister for Mauritania from November 2018 to March 2019.

Note: Mauritania is a country in Northwest Africa, the capital and largest city is Nouakchott. Approximately 90% of Mauritania's land is within the Sahara; consequently, the population is concentrated in the south, where precipitation is slightly higher.

2. International Widows’ Day: 23 June: The International Widows day (IWD) is observed every year on 23rd June to raise awareness of the issue of widowhood. The day addresses the poverty and injustice faced by millions of widows and their dependents in many countries. International Widows Day was established by The Loomba Foundation.

3. United Nations Public Service Day: 23rd June: The United Nations Public Service Day is observed on 23rd June every year to recognize the work of public servants and to encourage young people to pursue careers in the public sector. The day seeks to mark the invaluable contributions of public servants and administrators to build a better world for all.

4. UAE launches UN-developed anti money laundering platform ‘goAML’: The UAE has become the first country in the Gulf to launch ‘goAML’, a new anti money laundering reporting platform developed by the United Nations Office on Drugs and Crime to curb organised crimes. All financial entities and Designated Non Financial Businesses or Professions have to register on ‘goAML’. The platform will help the Financial Intelligence Unit of UAE to prevent money laundering, financing of terrorism and other illicit financial activities.

OTHER UPDATES:

SPORTS

1. Indian women’s Hockey team wins FIH Series finals: India Hockey team clinched the women’s FIH Series Finals Hockey Tournament by beating Japan 3-1 in the summit clash at the Hiroshima Hockey Stadium in Japan. By entering final of FIH Series Indian women’s team have already secured its place in the final round of 2020 FIH Olympics qualifiers. Women’s FIH Series is the 2nd stage of 2018–19 editions of Hockey Series participation of 24 teams (from 5 confederations). The top two teams from each event qualified for 2019 FIH Olympic Qualifiers. Indian men had won the FIH Series Finals in Bhubaneswar recently.

2. Lewis Hamilton wins French Grand Prix 2019: Defending World Drivers' Champion, Lewis Hamilton (Mercedes) continued his run of form as he won the 2019 French Grand Prix at Circuit Paul Ricard. British racing driver Hamilton defeated his teammate Valtteri Bottas. Ferrari’s Sebastian Vettel (5th) was outgunned by colleague Charles Leclerc (3rd), while Red Bull star Max Verstappen just missed the podium in fourth. The win also marked Hamilton's sixth triumph in eight races this season.

Note: The 2019 FIA Formula One World Championship is an ongoing motor racing championship for Formula One cars which marks the 70th running of the Formula One World Championship.

3. Asia Rugby Championships: India women claim first-ever test match victory: Team India claimed its first ever international women's 15s victory with a 21-19 win over Singapore in the Asia Rugby Women's Championship Division 1 in Manila, Philippines. Sumitra Nayak kicked a penalty in the death to claim a narrow victory for the girls in blue. This victory means India finished third in the tournament, ergo claiming a bronze medal.  China won gold with an incredible 68-0 victory over hosts Philippines.

4. Sofia Kenin beats Belinda Bencic to claim Mallorca Open title: American 20-year-old Sofia Kenin saved three match points on her way to beating third seed Belinda Bencic 6-7(2-7), 7-6(7-5), 6-4 in the final of the Mallorca Open grass court final.

BANKING AND FINANCE

1. RBI Deputy Governor Viral Acharya resigns: RBI Deputy Governor Viral V Acharya has resigned from his post, six months before the scheduled end of his term. Mr. Acharya joined the Reserve Bank in January 2017 and was RBI’s youngest deputy governor, post-economic liberalisation. Acharya will be returning to New York University as CV Starr Professor of Economics. With Acharya’s resignation, the RBI is now left with three Deputy Governors N.S. Vishwanathan, B.P. Kanungo and M.K. Jain.

2. Foreign investors pump in Rs 10312 crore in June so far: Overseas investors have infused more than 10,000 crore rupees in the domestic capital markets this month so far, with debt segment accounting for the lion's share. Equity investments have slowed down on account of rising geopolitical tensions in West Asia as well as US-India trade conflict. As per the latest depositories data, foreign portfolio investors (FPIs) pumped in around 552 crore rupees into equities and around 9,761 crores into the debt market during Jun 3 to 21, taking the cumulative net investment to 10,313 crore rupees.

OBITUARIES

1. Former Pakistan Foreign Minister passes away: Pakistan's former Foreign Minister Abdul Sattar (88-years) passed away. Mr. Sattar served as the Foreign minister under then-president Pervez Musharraf government (from 1999 to 2002). He was the part of Mussaraf delegation who visited India for the historic Agra Summit in 2001. Sattar also served as the foreign secretary from 1986-88. Sattar was also a writer and authored a book of the foreign policy of Pakistan.

Daily GK Updates - 23rd June, 2019

NATIONAL UPDATES:

1. India’s first solar-powered cruise boat to be rolled out in December: India’s first solar-powered cruise boat will be rolled out in December 2019 in Alappuzha, Kerala. The initiative comes from the Kerala State Water Transport Department (SWTD). It earlier launched Aditya, India’s first solar-powered ferry in 2016 in the Vaikom-Thavanakadavu route which has proved to be a success.

Features: The ₹3-crore cruise boat that can carry 100 passengers is under construction at a boatyard in Aroor. The hybrid vessel will be powered by a motor that can source energy from solar panels, battery, and generator. Its battery will have 80 KWh (kilowatt hour) power backup, as compared to 50 KWh backup in Aditya. The double-deck, double-engine catamaran-type vessel adheres to norms specified by the Indian Registry of Shipping (IRS).

2. Govt develops National Strategic Plan to end TB by 2025: The government has developed a National Strategic Plan with the goal of ending Tuberculosis (TB) by 2025. India accounts for 27.4 lakh estimated new TB cases annually, which is the highest in terms of absolute numbers. However, India ranks 35th in the world in terms of TB cases per lakh population. Over 5 lakh 62 thousand patients were cured last year.

3. Maha govt announces scheme for smokeless kitchens: A pilot project aimed at providing smoke-free environment in the kitchen for women will be launched by the Maharashtra government. The project, named “Chullah (wood-fired stove)-free and smoke-free Maharashtra”, will target the women who have not benefited under the Ujjwala or any other LPG distribution scheme. The pilot project will be implemented in Naxal- affected areas as well as the districts where farmer suicide rate is high.

4. Anupam Kher Unveils His Auto-Biography ‘Lessons Life Taught Me, Unknowingly’: Veteran actor Anupam Kher is out with his auto-biography, titled “Lessons Life Taught Me, Unknowingly,” and expresses that he started writing it when he was actually 10 years old. The book – an extraordinary, riveting and no-holds-barred saga studded with fascinating behind-the-scenes revelations, anecdotes and rare nuggets of lessons an up am kher’s life story is nothing short of a grand masala box office hit.

INTERNATIONAL UPDATES:

1. International Olympic Day: 23 June: World Olympic Day is celebrated every year on 23 June. The day is celebrated to promote participation in different sports throughout the world without any discrimination of the gender, age and athletic ability. The day is not confined to sports activities but a serious international effort to promote fitness and well-being in addition to the Olympic ideals of fair play, solidarity, respect and Sportsmanship across the globe.

2. Shefali Juneja appointed India’s representative to ICAO: Senior bureaucrat Shefali Juneja was appointed as India’s representative in the council of International Civil Aviation Organisation (ICAO), a United Nations body. Juneja, a 1992 batch officer of Indian Revenue Service (Income Tax cadre), is at present the Joint Secretary in Ministry of Civil Aviation. She has been appointed to the post of Representative of India in the ICAO, Montreal, Canada, for a period of three years. Juneja will replace senior IAS officer Alok Shekhar.

Note: International Civil Aviation Organisation is a specialized agency of United Nations, charged with coordinating and regulating international air travel. ICAO was established in 1944 by Convention on International Civil Aviation (Chicago Convention). It is headquartered in Quartier International of Montreal, Quebec, Canada.

3. 3rd Indo-French cyber dialogue 2019 was held in Paris: The third Indo-French cyber dialogue 2019 was held in Paris, France. To combat terror in cyber space, the two sides have decided to develop effective mechanism and coordinate their efforts in cyber space.

4. Saudi Arabia became the first Arab country to get FATF membership: Saudi Arabia became the first Arab country to get full membership of the Financial Action Task Force (FATF). With this, the number of permanent members in the group accounted to 39.

4. Author Amish Tripathi appointed director of London’s Nehru Centre: Renowned Author Amish Tripathi has been named as the new director of London’s Nehru Centre, under Indian Council for Cultural Relations (ICCR). He is the author of best-selling books such as ‘Secret of the Nagas’ and ‘Sita – Warrior of Mithila’. He will take over the director’s post from diplomat Srinivas Gotru, whose 4 year tenure ended in early 2019.

OTHER UPDATES:

SPORTS

1. Roger Federer Crushes David Goffin to Lift 10th Halle Open Title: Roger Federer defeated David Goffin in straight sets to win the Halle Open for a record-extending 10th time in his career. It is the first time that Federer has earned 10 crowns at one tournament, joining Rafael Nadal as the only men in the Open Era to accomplish the feat.

BUSINESS AND ECONOMY

1. US topples China as India’s largest merchandise trade partner: The US overtook China to once again become India’s top goods trading partner in 2018-19, official data shows. Also, India’s trade surplus with the US declined to $16.8 billion from $21.2 billion a year ago. India ranked 20th among the top capital importing countries. The UK, the Netherlands, Germany, the US and Australia were the top destinations for Indian capital investments.

Daily GK Updates - 22nd June, 2019

NATIONAL UPDATES:

1. Minister of State (I/c) for Civil Aviation inaugurates Central ATFM Complex: Minister of State (I/c) for Civil Aviation inaugurated the Air Traffic Flow Management Central Command Centre in New Delhi. The C-ATFM system integrates flight data from various subsystems like ATC Automation System, flight updates and flight update messages. The system processes the demand and capacity information and provides decision making tools to the ATFM Flow Manager to ensure regulated flow of traffic at each airport in India.

Note: Minister of State (I/c) for Civil Aviation: Hardeep Singh Puri.

2. Telangana CM inaugurates Kaleshwaram project: The Kaleshwaram Lift Irrigation Project which is one of the world's largest multi stage and multi purpose lift irrigation scheme, was inaugurated by Telangana Chief Minister in Jayashankar-Bhupalapally district of Telangana. The Kaleshwaram Lift Irrigation Project (KLIP) worth Rs 80,000 crore, touted as the world's largest multi-stage multi-purpose scheme. The Kaleshwaram Lift Irrigation Project envisages irrigation over 37 lakh acres of new and existing ayacut in 21 districts of the State.

Note: Chief Minister of Telangana: K. Chandrashekar Rao, Governor: E. S. L. Narasimhan.

3. Justice Raghvendra Singh Chauhan sworn-in as Chief Justice of Telangana High Court: Justice Raghvendra Singh Chauhan was sworn-in as Chief Justice of Telangana High Court in Hyderabad. Governor ESL Narasimhan administered the oath of office to Justice Chauhan at Raj Bhavan. Justice Chauhan is the second Chief Justice of the Telangana High Court after the bifurcation of the erstwhile Andhra Pradesh High Court last year.

4. Finance Minister Nirmala Sitharaman chairs 35th GST council meeting in Delhi: The 35th Goods and Service Tax (GST) council meeting was held in New Delhi. Union Finance Minister Nirmala Sitharaman chaired the meeting for the first time after assuming the office.

5. A water clinic for elephants opens on the banks of the Yamuna: India has opened its first specialised hydrotherapy treatment for elephants suffering from arthritis, joint pain and foot ailments in Mathura, Uttar Pradesh. The new hydrotherapy jumbo pool is 11-foot-deep and has 21 high-pressure jet sprays that create water pressure that massage the elephants’ feet and body and help in increasing blood circulation. The clinic runs in collaboration with the Uttar Pradesh Forest Department and the NGO Wildlife SOS.

Note: In November 2018, India has opened its first hospital exclusively for elephants in Mathura, Uttar Pradesh. The hospital, which is in Mathura, was formally inaugurated by Agra Divisional Commissioner Anil Kumar. The Uttar Pradesh Forest Department and the NGO Wildlife SOS together helped to build and organise the hospital.

INTERNATIONAL UPDATES:

1. Japan will host the G20 summit for the first time in 2019: Japan is going to host this year G20 Summit in the city of Osaka. It will be the first-ever G20 summit to be hosted in Japan. The G20 Osaka Summit will be held from June 28 to 29, 2019 in Japan. The summit under the Japanese presidency is centred around the theme "Human centred future society". Prime Minister Narendra Modi will attend the G20 summit in Osaka. Apart from participating at the summit, PM will also have bilateral meetings. Saudi Arabia will host the annual G20 leaders' summit on November 21-22, 2020, in its capital, Riyadh. In 2018, the G20 summit was held in Buenos Aries, Argentina.

Note: About G20: The G20 is an international forum for the governments and central bank governors from 19 countries and the European Union. The G20 Summit is formally known as the “Summit on Financial Markets and the World Economy”. In November 2008, the inaugural G20 Summit was held in Washington, D.C. The members of G20 are Argentina, Australia, Brazil, Canada, China, European Union, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom and the United States of America. Collectively, the G20 economies account for nearly 90% of the gross world product, 80% of world trade, two-thirds of the world population, and approximately half of the world land area.

2. NASA's First Astrobee Robot Bumble Starts Flying in Space: NASA's First Astrobee Robot Bumble Starts Flying in Space. NASA has revealed it's first cube-shaped 'Astrobee' robot, called Bumble, flew under its own power in space for the first time on June 14. Astrobee is a free-flying robot system designed to help astronauts reduce time spent on routine duties. The system comprises two more robots 'Honey' and 'Queen', software and a docking station used for recharging. Astrobee robots can move in any direction and turn on any axis in space.

Note: NASA Headquarter: Washington, D.C., United States, Founded: 29 July 1958, Administrator of NASA: Jim Bridenstine.

OTHER UPDATES:

SPORTS

1. Pankaj Advani clinches men's Asian Snooker Championship: Pankaj Advani has clinched the 35th men's Asian Snooker Championship in Doha to complete a career grand slam in cue sports.

He defeated Thanawat Tirapongpaiboon 6-3 in the final to become the only one to win the Asian and World championships in all formats. He conquered the ACBS Asian Snooker events - 6-red (short format) and 15-red (long format) - along with the IBSF World Championships in both formats too.

2. IOC lifts sanctions imposed on India to host international sporting events: The International Olympic Committee (IOC) lifted the sanctions imposed on India to host international sporting events. The sanctions were imposed on India when Pakistani shooters were not issued visas for the World Cup held in Delhi in February 2019.

DEFENCE

1. ‘Operation Bandar' was IAF's code name for Balakot airstrike: According to the senior defence sources, in order to maintain secrecy and ensure that the plans don't leak out, the Balakot operations were given the codename “Operation Bandar”. On February 26, 12 Mirages having taken off from multiple air bases crossed over into the Pakistani air space and carried out missile attacks on Jaish-e-Mohammed terror camp in Balakot town of Khyber Pakhtunwa province. The attacks carried out by the Indian Air Force, pilots had dropped five Spice 2000 bombs.

2. Indian Navy launches Operation Sankalp in the Gulf of Oman: Indian Navy launched Operation Sankalp in the Persian Gulf and the Gulf of Oman to reassure Indian flagged vessels transiting through the area following the recent maritime incidents in the region. INS Chennai and INS Sunayna have been deployed in the region to undertake maritime security operations. In addition, aerial surveillance in the area is also being done by IN aircraft. The operation has been launched in the wake of escalating tension in the Gulf of Oman, where two oil tankers were attacked last week. The incident has since heightened tensions between Tehran and Note: Washington.

Note: Vice Admiral Karambir Singh is the present Chief of the Naval Staff.

Daily GK Updates - 21st June, 2019

NATIONAL UPDATES:

1. Namma Kolhapuri chappal gets GI boost: Maharashtra's extremely popular footwear industry, renowned for its handcrafted leather Kolhapuri chappal has been given the Geographical Indication (GI) tag. The Controller General of Patents, Designs and Trade Marks has granted the GI tag for Kolhapuris to four districts of Maharashtra- Kolhapur, Solapur, Sangli and Satara, along with four in Karnataka- Dharwad, Belgaum, Bagalkot and Bijapur.

Note: A geographical indication (GI) is a sign used on products that have a specific geographical origin and possess qualities or a reputation that are due to that origin. In order to function as a GI, a sign must identify a product as originating in a given place. Geographical Indication Tag provides rights and protection to holders. For a product to get GI tag, it has to have a unique quality, reputation or characteristic which is attributable to its geographic origin.

2. Venkaiah Naidu suggests automatic lapsing of bills if Rajya Sabha fails to clear them within five years: Rajya Sabha Chairman M. Venkaiah Naidu came up with suggestions “if a bill is not passed for five years in the Rajya Sabha, then such bill should be deemed as lapsed automatically“to tackle the issue of lapsing of bills due to the dissolution of the Lok Sabha and the long pendency of legislation in the Upper House, in some cases for more than 30 years. According to Article 107 of the Constitution, bills passed in the Lok Sabha and pending in the Rajya Sabha get lapsed with the dissolution of the Lok Sabha. As many as 22 bills passed by the 16th Lok Sabha got lapsed as they cannot be cleared in the Rajya Sabha.

Note: Laws pending in Rajya Sabha: At end of the 248th session of the Rajya Sabha 55 bills were pending before the Upper House including the now lapsed bills. The Upper House now has 33 bills pending. Three are pending for more than 20 years. Six are pending for 10 to 20 years. Fourteen are pending for five to 10 years and the rest are pending for up to 5 years. The oldest pending bill is the Indian Medical Association (Amendment) Bill, 1987 that is pending for more than 32 years.

3. 35000 km of highways to be built by 2022 under Bharatmala: According to the President of India, construction or upgradation of about 35,000 kilometres of national highways are to be undertaken by 2022 under the 'Bharatmala Project'. Also under the 'Sagarmala Project', a network of good quality roads are to be constructed in coastal areas and areas adjoining ports.

4. IIIDEM (ECI) Orgnises Capacity Building Program on ‘Electoral Technology’: The India International Institute of Democracy and Election Management (IIIDEM) (ECI) organized five-day training programme on Use of Technology in Elections for Election Officials of Union Election Commission of Myanmar. The Capacity Building Programs on Electoral technology is the 7th program in the series of the 09 programs scheduled across 2018-2019.

INTERNATIONAL UPDATES:

1. International Day of Yoga: 21 June: The International Day of Yoga is being observed on 21st June every year. The International Day of Yoga aims to raise awareness worldwide of the many benefits of practicing yoga. This is the 5th Edition of International Day of Yoga. This year, the International Yoga Day's theme is "Climate Action" and it will be celebrated at the UN on 20 June as "Yoga with Gurus," followed by a panel discussion on 21 June.

Note: The idea of the International Day of Yoga was first proposed by PM Modi during his speech at the United Nations General Assembly (UNGA) on September 27, 2014. The first International Yoga Day (IYD) was celebrated across the world on 21st June 2015.

2. World Music Day: 21 June: World Music Day is observed on 21st June every year with the aim to shed light on the importance of music. On Music Day, the citizens of a city or country are allowed and urged to play music in their neighborhoods or in public spaces. World Music Day has its origins in France, but soon got adopted by over 120 nations across the world, including India. In France, it is known as ‘Fête de la Musique’ meaning “festival of music” to honour both amateur and professional musicians.

Note: The idea was conceived in the 1970s by American musician Joel Cohen— then working for a French radio station—as he wanted bands to play on the evening of June 21 to welcome the first day of summer. The first World Music Day took place on June 21, 1982.

3. World Hydrography Day: 21 June: World Hydrography Day (WHD) is being observed annually on 21 June to publicise the work of hydrographers and the importance of hydrography. The theme of this year is – “Hydrographic information driving marine knowledge”. Since 2006, the day is observed annually on 21 June. It was adopted by the International Hydrographic Organization as an annual celebration to publicise the work of hydrographers and the importance of hydrography.

Note: The International Hydrographic Organization is an intergovernmental consultative and technical organization that was established in 1921 to support the safety of navigation and the protection of the marine environment. The IHO headquarters is in Monaco.

OTHER UPDATES:

SPORTS

1. World Archery appoints Abhinav Bindra to sort AAI mess: Abhinav Bindra was appointed as an independent person by the World Archery to sort out the ongoing mess in the Archery Association of India (AAI). The development comes a day after the world body de-listed the AAI for violating the constitution by unanimously electing two parallel bodies in Chandigarh and New Delhi. The suspension would prevent Indian archers from participating at any world event, including the Asian Archery Championships, an Olympic qualifying event.

2. Bronze for India in the 58th Ostrava Golden Spike Athletics meet: Annu Rani won the women’s javelin bronze in the 58th Ostrava Golden Spike athletics meet, an IAAF World Challenge event. While Croatia’s Sara Kolak took the gold and Slovenia’s Martina Ratej bagged the silver.

BANKING AND FINANCE

1. SEBI sets up panel to review margins on derivatives: NSE Clearing Ltd. will head the panel set up by SEBI to review margins on derivatives. The panel will submit its recommendations to the Secondary Market Advisory Committee. These margins on the derivatives segment are pushing up the cost of trading while not managing risk in the most efficient manner.

Note: Chairman of NSE Clearing Ltd.: Mr. Harun R Khan; SEBI Headquarter: Mumbai, Chairperson: Ajay Tyagi.

2. CCI approves Indiabulls Housing Finance and Lakshmi Vilas Bank merger: Competition Commission of India (CCI) has approved the merger of the Indiabulls Housing Finance and Lakshmi Vilas Bank. Lakshmi Vilas Bank is going to merge with Indiabulls Housing Finance in a share swap deal with intent to create a combined entity with a larger capital base and wider geographical reach. After the merger, Indiabulls Housing Finance will get access to low cost deposits, geographical diversification and expanded client base and cross selling opportunities.

3. Apollo Munich to merge with HDFC ERGO: HDFC Ltd. has signed a definitive agreement with Apollo Munich Health Insurance to buy out the entire Apollo Hospitals Group’s stake of 50.8% for ₹1,136 crore and another 0.4% stake held by a few employees for ₹10.84 crore. Post the acquisition of shares by HDFC, Apollo Munich would be merged with the former’s general insurance subsidiary — HDFC ERGO. ERGO is a subsidiary of Munich Re, which has been a joint venture partner of HDFC ERGO since 2008. Munich Re will continue to hold 49% stake in HDFC ERGO post the merger. The acquisition would make HDFC ERGO the second-largest private sector insurer in the combined accident and health insurance vertical, with an 8.2% market share.

Note: HDFC ERGO General Insurance Company Ltd. is a joint venture between HDFC Ltd. and ERGO International AG, the primary insurance entity of Munich Re Group. HDFC holds 51 per cent, and ERGO the other 49 per cent. The headquarters is located in Mumbai. Ritesh Kumar is the CEO of HDFC ERGO.

4. Sundaram Fin to buy entire BNP Paribas stake in housing arm for Rs 1,000 crore: Sundaram Finance Ltd (SFL) and BNP Paribas Personal Finance have reached an agreement under which BNP Paribas Personal Finance will sell its entire 49.9 per cent equity stake in Sundaram BNP Paribas Home Finance Ltd (SBPHFL) to SFL for a consideration of about ₹1,000 crore. The proposed acquisition follows BNP Paribas Group’s decision to exit the retail housing finance business.

BUSINESS AND ECONOMY

1. 249 startups were given financial support with FFS: DPIIT: According to Department for Promotion of Industry and Internal Trade, Fund of Funds for Startups have provided financial support to 249 startups in last 3 years. The DPIIT is the monitoring agency and Small Industries Development Bank of India is the operating agency for FFS. FFS contributes to the corpus of SEBI registered Alternative Investment Funds (AIFs). The AIFs in turn have to invest at least twice the contribution under FFS in startups.

2. Group of Secretaries constituted on e-Commerce: A Standing Group of Secretaries (GoS) has been constituted on e-Commerce by Ministry of Commerce and Industry. GoS under the Chairmanship of Secretary, Department for Promotion of Industry and Internal Trade (DPIIT) is constituted to ensure inter-ministerial/inter-departmentalcoordination on resolving issues, cutting across Ministries and Departments of Government of India in e-Commerce.

Note: Union Minister of Commerce and Industry: Piyush Goyal; Secretary of DPIIT: Ramesh Abhishek.

3. Tech Mahindra signs contract with Airbus: Software and business re-engineering services firm Tech Mahindra announced the signing of a multi-year contract with Airbus for cabin and cargo design engineering. Tech Mahindra said it is aiming to grow its cabin engineering business over the next few years. The company is betting big on next-generation technologies such as Artificial Intelligence (AI), Machine Learning, Internet of Things (IoT), cybersecurity, robotics, automation, Blockchain and 5G, to solve real business problems of the customers by delivering innovative solutions and services.

Note: Tech Mahindra Limited is a multinational Information Technology (IT) Software and business re-engineering services firm. It is a subsidiary of the Mahindra Group. Chairman of Tech Mahindra: Anand Mahindra, Headquarter: Pune; Airbus's corporate headquarter: Leiden, Netherlands. CEO of Airbus: Guillaume Faury

Daily GK Updates - 20th June, 2019

NATIONAL UPDATES:

1. FM chairs the 20th Meeting of the FSDC in New Delhi: The 20th meeting on Financial Stability and Development Council (FSDC) was held under the chairmanship of Finance Minister Nirmala Sitharaman in New Delhi. The meeting reviewed the current global and domestic economic situation and financial stability issues including, inter-alia. Sitharaman will present the first budget of the new government on July 5.

Note: The Financial Stability and Development Council (FSDC) was constituted in December 2010. The FSDC was set up to strengthen and institutionalise the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development. 

Composition: The Council is chaired by the Union Finance Minister and its members are Governor, Reserve Bank of India; Finance Secretary and/or Secretary, Department of Economic Affairs; Secretary, Department of Financial Services; Chief Economic Adviser, Ministry of Finance; Chairman, Securities and Exchange Board of India; Chairman, Insurance Regulatory and Development Authority and Chairman, Pension Fund Regulatory and Development Authority. 

It also includes the chairman of the Insolvency and Bankruptcy Board (IBBI).

2. Himachal Pradesh makes GPS device must for trekkers: The Himachal Pradesh government makes mandatory for trekkers to carry a GPS device so that they can be provided all possible help in case of any emergency. According to the Himachal Pradesh government, as Himachal Pradesh being a disaster prone state, therefore Kullu and Dalhousie have been identified for installation of early warning system. Rampur and Mandi towns have been zeroed in for setting up the reliefand rescue base of National Disaster Response Force.

Note: Chief Minister of Himachal Pradesh- Jai Ram Thakur. Governor- Acharya Dev Vrat. Capital- Shimla.

3. NCERT organises National Yoga Olympiad of school children: National Council of Educational Research and Training organised 4th edition of National Yoga Olympiad of school children in New Delhi. The Olympiad was inaugurated by the Director and UNESCO Representative for India, Mr. Eric Falt. This year 567 students from 33 States/UTs participated in the Olympiad. The purpose of olympiad was to create positive attitude among all human beings and promote peaceful living together in the society.

Note: International Day of Yoga: 21st June

INTERNATIONAL UPDATES:

1. India extends $15 mn assistance to Niger for holding AU summit: India has extended USD 15 million assistance to Niger for organising the African Union (AU) summit scheduled to be held in Niamey early next month. The summit is scheduled to be held in Niamey from July 7-8. It will also be the first time that Niger is scheduled to host an AU summit. India is also establishing the Mahatma Gandhi International Convention Centre (MGICC) in Niamey under grant assistance.

Note: African Union (AU), international organization established in 2002 by the nations of the former Organization of African Unity (OAU). There are 54-member nations; the only African country that is not a member is Morocco. The AU's headquarters are at Addis Ababa, Ethiopia; Niger Capital- Niamey; Currency- CFA franc, West African CFA franc.

2. Bangladesh, South Korea state channels now on DD Free Dish: India has signed agreements with Bangladesh and South Korea for DD India to be telecasted on the state platforms of the respective countries. As per the agreement, BTV World, a channel owned by Bangladesh TV and KBS World, an English language of South Korea, will now be available on the state-owned DD Free Dish. 

Note: South Korea Capital- Seoul, Currency- South Korean won; Bangladesh Capital: Dhaka, Currency: Taka, PM: Sheikh Hasina.

3. WHO offers a new tool for action against antimicrobial resistance: WHO offers a new tool "AWaRe" to contain rising antimicrobial resistance and make antibiotic use safer and more effective.

AWaRe tool - The tool aimed at guiding policy-makers and health workers to use antibiotics safely and more effectively. It’s another objective is to limit drugs that are at risk of resistance. The tool, known as ‘AWaRe’, classifies antibiotics into three groups:

"Access" specifies which antibiotics to use for the most common and serious infections.

"Watch" specifies which ones should be available at all times in the healthcare system.

"Reserve" are those that must be used sparingly or preserved and used only as a last resort.

Note: The World Health Organization is a specialized agency of the United Nations (UN) that is concerned with international public health. It was established on 7 April 1948, headquartered in Geneva, Switzerland. Tedros Adhanom is working as a Director General of WHO since 2017. 

4. Mexico ratifies US-Mexico-Canada agreement: Mexico has ratified the US-Mexico-Canada agreement. This makes it the first country to give the new North American trade deal final approval despite recent tensions with the US. The Mexican government called the deal's passage a clear message in favour of an open economy and deepening economic integration in the region. Mexico President Andres Manuel Lopez Obrador claimed the deal would bring in more foreign investment and jobs in Mexico, and access to the US market. The deal aims to replace the North American Free Trade Agreement (NAFTA), which helped turn Mexico into an exporting powerhouse over the past 25 years.

Note: The North American Free Trade Agreement was implemented in 1994 to encourage trade between the United States, Mexico, and Canada. NAFTA’s purpose was to encourage economic activity among North America's three major economic powers. President Trump made a campaign promise to repeal NAFTA, and in August 2018, he announced a new trade deal with Mexico to replace it. In Sept. 2018, Canada joined the deal: the United States-Mexico-Canada Agreement (USMCA), which was signed on Nov. 30, 2018.

5. World Refugee Day: 20 June: World Refugee Day is celebrated around the world on 20th June to raise awareness about the precarious condition of refugees around the world who have been forced to leave their homes due to war, persecution and conflict. The theme for World Refugee Day 2019 is “Step with Refugees — Take A Step on World Refugee Day.” The theme focuses on that there is a need to take big and small steps in solidarity with refugees from around the world. According to the United Nation (UN) every minute, around 25 people have to leave everything in the search for a better and safer life.

Note: UN Headquarter: New York, USA; Founded: 24 October 1945. Mr Antonio Guterres of Portugal is the Secretary-General of the United Nations.

OTHER UPDATES:

SPORTS

1. Folksam Grand Prix: PU Chitra wins 1500m gold: Asian champion PU Chitra won the women's 1500m gold at the Folksam Grand Prix in Sollentuna, Sweden. She produced the best time of her season so far by clocking 4 minutes 12.65 seconds (4:12.65s). She is a gold medal winner in Asian Championships held in Doha, Qatar in April 2019. Asian Games gold medallist India’s Jinson Johnson won the silver in the men's 1500m clocking 3:39.69.

2. Archery Association of India de-listed by the world body: Archery's world body has de-listed the Archery Association of India (AAI) as a member and given it a month's time to either get its house in order or face suspension. World Archery (WA) said it will wait till 31st of next month before deciding on AAI's suspension. The WA will wait for the Supreme Court's verdict on the controversial elections of the AAI. The decision to de-list AAI will not prevent Indian archers from taking part in international events under the national flag in competitions for which entries have already been made.

BANKING AND FINANCE

1. Canara Bank updates rules for cash deposits of up to Rs 50,000: From July 1, Canara Bank customers can deposit cash of up to Rs 50,000 for free only thrice a month. From the fourth transaction or for cash deposits of over Rs 50,000, there will be a service charge of Rs 1 per thousand, with a minimum of Rs 50 and a maximum of Rs 5,000 plus GST.

Note: Canara Bank Chairman: T.N. Manoharan; Headquarters: Bengaluru; MD & CEO of Canara Bank: R.A. Sankara Narayanan

2. IndusInd Bank-Bharat Financial merger to be effective from July 4: IndusInd Bank and Bharat Financial Inclusion Ltd (BFIL) said their merger will be effective from July 4. The National Company Law Tribunal on June 10, 2019, approved the Scheme of Arrangement among BFIL, IndusInd Bank and Induslnd Financial Inclusion and their respective shareholders and creditors. IndusInd Bank in October last year decided to acquire the country's leading micro-finance player BFIL, which was previously known as SKS Microfinance.

Note: IndusInd Bank was inaugurated in April 1994 by then Union Finance Minister Manmohan Singh. Headquarters- Mumbai, Maharashtra. CEO: Romesh Sobti

BUSINESS AND ECONOMY

1. At 9.8 GB per month, India has the highest data usage per smartphone: According to a new study by Swedish telecom equipment maker Ericsson, India has the highest average data usage per smartphone, reaching 9.8 GB per month at the end of 2018. The report also forecasts that this figure is likely to double to 18 GB per month per smartphone by 2024. The ‘Ericsson Mobility Report’ added that total smartphone subscriptions in the region are likely to reach 1.1 billion by 2024, growing at 11% CAGR. In 2018, mobile data traffic per smartphone per month stood at 7 GB for North America, 3.1 GB for Latin America, 6.7 GB for Western Europe, 4.5 GB for Central and Eastern Europe.

2. ICANN partners NASSCOM to develop tech, standards for IoT devices: Global internet body Internet Corporation for Assigned Names and Numbers (ICANN) and Indian IT industry body National Association of Software and Services Companies (Nasscom) collaborated to develop identifier technology to manage devices and infrastructure using internet. Under the collaboration, both the bodies will first focus on updating Internet of Things (IoT) devices using domain name system (DNS). The project team under the collaboration includes ICANN technical experts, NASSCOM's Centre of Excellence IOT team, IIT Hyderabad team and participants from India's Education and Research Network(ERNET).

Note: President of ICANN: Göran Marby; Chairman of NASSCOM: Rishad Premji

AWARDS AND HONOURS

1. Indian engineer wins Innovation Award in UK: Nitesh Kumar Jangir, an Indian engineer has won the 2019 Commonwealth Secretary General's Innovation for Sustainable Development Award in the “People” category in London. Nitesh Kumar Jangir created Saans, a breathing support device to tackle avoidable deaths of premature babies from respiratory distress syndrome.

Daily GK Updates - 19th June, 2019

NATIONAL UPDATES:

1. Om Birla Elected As 17th Lok Sabha Speaker: Om Birla, a two-time Bharatiya Janata Party (BJP) member of Parliament (MP) from Rajasthan, is set to be unanimously elected as the 17th Lok Sabha Speaker. Om Birla was elected to the 17th Lok Sabha from the Kota-Bundi constituency.

Note: Sumitra Mahajan was 16th Lok Sabha Speaker.

2. IIT Bombay has emerged the country’s best university: QS Rankings: IIT Bombay has emerged the country’s best university for the second consecutive year in the 2019 QS World University Ranking. Massachusetts Institute of Technology (MIT) was named the world’s best for a record eighth consecutive year. Twenty-three Indian institutes feature in the sixteenth edition of the QS World University Ranking in which IIT Bombay (152), IIT Delhi (182) and Indian Institute of Science Bangalore (184) are ranked in the global top 200. Asia’s top universities are the National University of Singapore and Nanyang Technological University (both ranked 11th).

3. Ministry of Health and Family Welfare approves Cancer Institute at GMC Jammu: Ministry of Health and Family Welfare has formally approved 120 crore rupee Cancer Institute at Government Medical College, Jammu for strengthening the tertiary level cancer services in the  

Earlier, one State Cancer Institute was approved for Shere Kashmir Institute of Medical Sciences, Soura in Srinagar for which first grant-in-aid of 25 crore rupees has already been released.

4. Unemployed Graduates to Get Up To Rs 3,500 In Rajasthan: Unemployed youth having graduation or equivalent degree will be given unemployment allowance by Rajasthan government. Male applicants will get Rs 3,000/month, while the women and differently-abled will get Rs 3,500/month under Chief Minister Yuva Sambal Yojana from February this year. The applicants must be natives of Rajasthan and the amount will be given for two years or until they get employed.

INTERNATIONAL UPDATES:

1. Deputy Prime Minister of Russia Yury Trutnev Visits India: The Deputy Prime Minister of Russia Yury Trutnev addressed a gathering of businesspersons and industrialist in Mumbai and invited Indian Investments in the Russian Far East. India Russia business tie has been hugely tilted favouring defence sector traditionally. Deputy Prime Minister of Russia Yury Trutnev will meet External Affairs Minister S Jaishankar.

2. Bangladesh's first iron ore mine discovered: For the first time in Bangladesh, iron ore mine has been discovered at Isabpur village in Dinajpur. The announcement was made by the Geological Survey of Bangladesh following extensive drilling over two months in the area. According to the Geological Survey, a 400-foot thick iron layer was found 1,750 feet beneath the surface stretched over an area of 6-10 square kilometre. The percentage of iron in the mine was 65 which indicates the high quality of the ore. In most other countries like Canada, China, Brazil Sweden and Australia the percentage is below 50.

3. International Day for the Elimination of Sexual Violence in Conflict: International Day for the Elimination of Sexual Violence in Conflictis celebrated around the world on 19th June to raise awareness of the need to put an end to conflict related sexual violence. Panel Discussion: "The Importance of a Survivor Centred Approach".

Note: United Nations Headquarters in New York, USA. It was founded on 24 October 1945. Mr Antonio Guterres of Portugal is the Secretary-General of the United Nations.

4. World Sickle Cell Day: 19 June: World Sickle Cell Day observed every year on 19th June. It is observed each year to raise public awareness about the sickle cell disease and its treatment methods. Sickle cell disease is an inherited form of anaemia in which red blood cells are not able to carry adequate oxygen throughout the body.

5. United Nation's World Population Prospects Report 2019: United Nation released its "World Population Prospects Report 2019". Some findings of the report are: India will overtake China as the most populous country by 2027 and will have almost 1.64 billion inhabitants by 2050. The Central and the Southern Asia region is expected to see a 25% increase in population till 2050. The rate of population growth is the highest in sub-Saharan Africa, where the fertility rate stand at 4.6 births per woman over a lifetime. India is still among the countries where the working-age population (25-64 years) is growing faster than other groups.

OTHER UPDATES:

SPORTS

1. Rashid Khan becomes most expensive bowler in World Cup history: Afghanistan leg spinner Rashid Khan recorded the worst bowling figures in a ICC World Cup Match after conceding 110 runs in 9 overs against England. Previous record of conceding 105 runs in 12 overs was held by New Zealand's Martin Snedden.

BANKING AND FINANCE

1. RBI sets up panel under UK Sinha to study MSMEs: The Reserve Bank of India (RBI) has set up an eight-member expert committee to suggest long-term solutions for the economic and financial sustainability of the micro, small and medium enterprises (MSMEs). The committee will be headed by former chairman of SEBI UK Sinha. The committee will examine the factors affecting the timely and adequate availability of finance to the MSME sector.

The other members include development commissioner for MSME Ram Mohan Mishra; joint secretary at the department of financial services Pankaj Jain; SBI managing director PK Gupta; ICICI Bank executive director Anup Bagchi; IIM- Ahmedabad professor Abhiman Das; Ispirit Foundation founder Sharad Sharma and Dvara Trust chairperson Bindu Ananth.

2. RBI slaps Rs 1 crore fine on HDFC Bank for non-compliance of KYC norms: The Reserve Bank of India (RBI) imposed a penalty of Rs 1 crore on private sector lender HDFC Bank for non-compliance of Know Your Customer (KYC) norms and anti-money laundering norms, and for failure to report frauds. The penalty has been imposed in exercise of powers vested under the provisions of Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to the aforesaid directions issued by RBI.

BUSINESS AND ECONOMY

1. Government to set up 51 incubators for aspiring entrepreneurs: The GoI will set up 51 new incubators for startups in the information and communications technology space across India as part of its Technology Incubation and Development of Entrepreneurs (Tide) 2.0scheme. Tide 2.0 will offer financial and technical support to incubators supporting ICT startups that are involving usage of deep technologiesincluding artificial intelligence, blockchain, robotics, and internet of things in “pre identified areas of societal relevance". The scheme has categorized the selection of incubators into three categories: Group 1 Centre (G1C), G2C, and G3C.

2. India accounts for 6.3% of global fish production: Fisheries department: According to the Fisheries Department, India is the second largest fish producing country in the world as it accounts for 6.3 per cent of the global fish production. China is the largest producer of fish in the world. Rajni Sekhri Sibal, Secretary, Department of Fisheries, there is a huge potential in harnessing tuna and tuna-like species in the Indian Exclusive Economic Zone (EEZ). She is addressing the 23rd session of the Indian Ocean Tuna Commission (IOTC), in Hyderabad.

Note: The 23rd session of the Indian Ocean Tuna Commission (IOTC), being held in Hyderabad, India from 17 to 21 June 2019.

DEFENCE

1. Diamond Jubilee of the Oldest Naval Air Squadron: Indian Navy's first Naval Air Squadron 550 celebrated its Diamond Jubilee at naval base Kochi after Completing 60 glorious years of yeoman service to the nation. The squadron has flown 14 different types of aircraft starting with the Sea land Aircraft to the Dornier maritime reconnaissance aircraftbeing presently flown.

2. ICG co-hosts 12th ReCAAP ISC capacity building workshop: Indian Coast Guard (ICG) co-hosts 12th Capacity Building workshopwith Regional Cooperation Agreement on Combating Piracy and Armed Robbery against Ships in Asia (ReCAAP) Information Sharing Centre(ISC) in New Delhi.

Note: The ReCAAP is the first regional Government-to-Government agreement to deal with piracy and armed robbery at sea in Asia. Presently 20 countries are members of ReCAAP. India played an active role in the setting up and functioning of ReCAAPISC along with Japanand Singapore.