Daily GK Update - 27th February 2015

1. Economic Survey 2015: Highlights

i. The Economic Survey, prepared by the finance ministry's chief economic adviser Arvind Subramanian, was tabled in the Lok Sabha.

ii. India’s economic survey pegged growth at more than 8 per cent for the next fiscal and said inflation was now declining, while also setting the agenda for reforms needed to further drive the expansion, prune wasteful expenditure and promote productive investment.

Following are the highlights of the survey:

• Double digit economic growth trajectory now a possibility
• Government will adhere to fiscal deficit target of 4.1% of GDP in 2014-15
• Economic Survey says estimates current account deficit to fall to 1 pct of GDP in coming fiscal year​
  
• Average WPI inflation declines to 3.4% in 2014-15 (April-December) against 6% previous year
• Need to improve productivity in the agricultural sector to ensure food security
• Post Office can be linked with AADHAR based benefits transfer architecture to allow linkage to AADHAR accounts

2. Kshatrapati Shivaji to be new CMD of SIDBI

i. Kshatrapati Shivaji, a 1986 batch IAS officer, has taken over as the Chairman and Managing Director of Small Industries Development Bank of India (SIDBI). 

ii. Shivaji has been appointed on deputation basis for a period of three years from the date of his taking over the charge, a Finance Ministry release said. 

iii. Shivaji is currently Principal Secretary (Expenditure), Finance Department in Maharashtra government.

3. Clemson University honoured Ratan Tata with Doctorate of Automotive Engineering

i. Ratan Tata was honoured an honorary Doctorate of Automotive Engineering by the Clemson University at the South Carolina Automotive Summit.

ii. He was awarded for his contributions to the global automotive industry.  

iii. Ratan Tata is the ex-chairman of the Tata Group. He was named Chairman of Tata Industries In 1981, where he was responsible for transforming it into a group strategy think tank and a promoter of new ventures in high technology businesses.

iv. Ratan Tata serves on the board of directors of Alcoa and Mondelez.

4. Zoological Society of London enters in Asiatic lion Conservation

i. Zoological Society of London (ZSL) and Gujarat Forest Department have inked a memorandum of understanding (MoU) for conversation of Asiatic lion and its habitat.

ii. The forest officials said that the ZSL which has expertise in managing the zoo will provide its technical assistance to the state not only to manage its rescue and treatment centres but also to manage the Sakarbaugh Zoo.

iii. Apart from the zoo expertise, the ZSL will provide expertise in managing the landscape and the habitat of the area and also training the staff in handling rescue. 

5. Gopinath Pillai appointed as Special Envoy to Andhra Pradesh by Singapore government

i. Singapore government appointed Gopinath Pillai as its special envoy to Andhra Pradesh. Pillai, a senior policy strategist, was appointed to speed up construction of new capital in the state.

ii. Pillai’s appointment as special envoy to Andhra Pradesh was announced by Singapore’s Minister for Foreign Affairs and Law K. Shanmugam and Andhra Pradesh Chief Minister N Chandrababu Naidu at the secretariat in capital Hyderabad.

iii. At the time of appointment, Pillai was working as a Chairman of a Singapore based think-tank, Institute of South Asian Studies (ISAS), and an ambassador for city-state's government.

6. AB De Villiers hits fastest ODI 150 in South Africa World Cup win

i. AB de Villiers hit the fastest ever 150 in one-day internationals as South Africa condemned West Indies to a crushing 257-run defeat in Sydney.

ii. De Villiers took 64 deliveries to reach 150, beating the previous best, set by Australia's Shane Watson, by 19 balls.

Read more: http://www.bankersadda.com/2015/02/daily-gk-update-27th-february-2015.html#ixzz3T3XC8tIA

TIMES OF INDIA HEADLINES FEB 28 2015

Today's Headlines

		INDIA
		Bill to protect elderly suffering from dementia introduced in LS Even as India reaps a demographic dividend for its larger share of working age population, the government appears to be worried about the graying millions and the disease burden associated with it. Better infra, safer transport will drive more women to work There’s a strong argument to be made for increasing women’s participation in the workforce – including boosting the GDP growth rate – and the finance minister, via the Union Budget, can be a vocal advocate if he so chooses. Consider setting up special benches for poll disputes: SC tells high courts Undue delay in deciding election disputes exposes the court to unpleasant criticism and makes adjudicatory process a mockery of justice, the Supreme Court on Friday said and asked the high courts to create a dedicated bench to deal with election disputes. More India News»

		BUSINESS
		Sebi cancels Sahara's portfolio management licence Market regulator Sebi on Friday cancelled the portfolio management licence of Sahara Asset Management (AMC). Tata Motors offers VRS to cut costs on weak demand The Tata Group flagship, one of the oldest automobile companies in India, employs about 27,000 people in the country. Local operations' spinoff may be on StanC agenda Standard Chartered Bank which saw a top-level rejig on Thursday with CEO Peter Sands and Asian head Jaspal Bindra stepping down, will be taking stock of its Indian operations at a board meeting in Delhi on March 23rd. More Business News»

		ENVIRONMENT
		Study finds high level of toxic benzene in Delhi air For Delhiites, there’s more bad news in the air. The capital not only has the worst air quality among big cities across the world, a new study has found alarmingly high levels of a carcinogenic compound, benzene, in Delhi’s air. 37 elephants, wild animals fell victim to speeding trains As many as 37 elephants and wild animals have come under speeding trains since 2013, the Rajya Sabha was told today. Most Americans see combating climate change as a duty A significant majority of Americans say combating climate change is a moral issue that obligates them — and world leaders — to reduce carbon emissions, a Reuters/IPSOS poll has found. More Environment News»

		WORLD
		'Consider Russia's security concerns over Ukraine' Western powers should take into consideration Russia's legitimate security concerns over Ukraine, a top Chinese diplomat has said in an unusually frank and open display of support for Moscow's position in the crisis. US house rejects Homeland Security funding The Republican-controlled US house of representatives unexpectedly rejected short-term funding for the department of homeland security on Friday. 'Norwegian Air pilots to go on strike from Saturday' Pilots at the Norwegian Air , Europe's third-biggest budget airline, will go on strike from Saturday after talks with the airline broke shortly after midnight, Norwegian news agency NTB reported. More World News»

		ENTERTAINMENT
		Ranveer falls off a horse, hurts shoulder Ranveer Singh suffered a shoulder injury after falling off a horse while shooting for his next in Jaipur. Sonu's 90's hit track adapted for Sunny Leone Sonu Nigam’s 1999 song Deewana Tera has been adapted in Sunny Leone starrer Ek Paheli Leela. Bollywood stars who desperately need a hit More Entertainment News»

		SCIENCE
		Cern to test new particle model The Higgs particle can disintegrate into particles of dark matter, according to a new model that is being tested at the particle physics laboratory Cern. Thinking of God makes people bigger risk-takers Reminders of God can make people more likely to seek out and take risks, according to a new research. Water pools in US astronaut's helmet after spacewalk An American astronaut found water pooling inside his helmet after he finished a six-plus hour spacewalk on Wednesday, raising new concerns about the safety of Nasa's spacesuits. More Science News»

		SPORTS
		World Cup 2015: MS Dhoni hurt at nets while batting India captain MS Dhoni was on Friday hurt while batting in the nets at the WACA here ahead of India's World Cup league match against the UAE. India are playing best cricket of World Cup, insists Lara Insisting that India are currently playing the "best cricket of WC", Lara feels that defending champions must test their bench strength against UAE. Srinivasan apologises to SC for chairing BCCI meet on Feb 8 N. Srinivasan tendered an unconditional apology for presiding over the February 8 Board of Control for Cricket in India Working Committee meeting. More Sports News»

		TECHNOLOGY
		GTalk is officially dead, long live Hangouts Google has been pushing the messaging app Hangout, but GTalk has been the most preferred choice for many users. Apple iPhone 6, 6 Plus prices drop in India iPhone 6 and 6 Plus, which were launched in India in October 2014, have seen their prices drop on major e-commerce websites. 8 Google Hangouts tricks you should know Google has killed off its GTalk instant messaging service, making Hangouts the only way you can contact the people you regularly chat with. More Technology News»

		EDUCATION
		'Himachal has best enrolment in education' Himachal Pradesh Chief Minister Virbhadra Singh said Friday the state has achieved one of the country's best enrolment rates in higher education. Private schools are not adding value: Study That private schools improve learning outcomes is a myth. The impact of the voucher system on learning achievement levels was studied over five years in rural Andhra Pradesh by Azim Premji Foundation. Mumbai University: 2,500 engineering students can take exams under old system The Mumbai University academic council failed to give complete relief to 2,500 engineering students who were not eligible for final year admissions as they had more than five ATKTs (allowed to keep terms) in their lower classes. More Education News»

		MUMBAI
		Non-Marathi teachers lead Bhasha Divas at Andheri school After a circular from the state education department directed schools to celebrate February 27 as Marathi Bhasha Divas, several city schools marked the day with activities and celebrations on Friday. 61-year-old brain-dead man gives life to three In the city’s seventh cadaver donation this year, the organs of a former BEST employee were donated by his family on Wednesday, giving a new lease of life to three people. Omani, Saudi held for molesting American woman The Colaba police arrested an Omani and a Saudi national for allegedly molesting and stalking a 52-year-old American woman, who was staying at a five-star hotel in south Mumbai. More Mumbai News»

		DELHI
		More to write Boards, but fewer special candidates The number of registered candidates for CBSE examination for classes X and XII has increased by 3.37% and 1.01%, respectively. 3-year-old wanders off, rescued If it weren’t for the prompt action of Sabzi Mandi police, three-year-old Kisna would never have seen his parents again. Rape survivor's SIM not seized, complains cabbie Alleging that Delhi Police “planted evidence” and the survivor’s story is false, rape accused cab driver Shiv Kumar Yadav’s counsel on Friday sought acquittal of his client. More Delhi News»

		BANGALORE
		Speeding vehicles claim two lives Hours after a tanker mowed down a college girl and a 25-year-old bike-borne youth on Ballari Roadon Thursday, two other pedestrians were killed by speeding vehicles elsewhere in the city. Give us a playground we can call our own: Cox Town kids When students of Shobha Memorial High School in Cox Town stepped out with their footballs on Friday morning, they weren't headed for a game. Follow law, let schools teach in English: HC bserving that the state government's attempts not to implement the Supreme Court's verdict on the language policy borders on contempt, the high court on Friday directed it to permit existing English- medium schools to teach classes 1-5 students in English. More Bangalore News»

		HYDERABAD
		Traffickers go scot-free as cops soft-pedal probe Indifferent police and lax probe in cocaine peddling cases seem to be encouraging offenders, mostly foreign nationals, to continue their trade in the city. ED attaches properties worth Rs 232 cr in Jagan assets case Moving ahead with its attachments in the disproportionate assets case against YSR Congress president Jaganmohan Reddy, the Enforcement Directorate (ED) on Thursday attached 29 assets worth Rs 232 crore belonging to Bharati Cements, India Cements, Janani Infrastructure, Jagati Publications (publisher of Sakshi newspaper) and Carmel Asia Holdings. Rail Budget: Telangana celebrates, Andhra Pradesh cries foul The much-awaited railway budget, which is the first since the bifurcation of Andhra Pradesh, was a mixed bag for the two states.

Daily GK Update - 25th February 2015

1. AAP Government's First Decisions: Cheaper Power, Free Water, Demolition Ban

i. The Aam Aadmi Party government in Delhi has jump-started its plan to slash electricity bills and provide free water.  AAP Government announced a 50 per cent subsidy on power consumption up to 400 units on the existing Delhi Electricity Regulatory Commission (DERC) rates in Delhi. 

ii. As per the Cabinet decision, no subsidy would be given to domestic consumers on power consumption above 400 units.

iii. The three-day-old government has also asked the Delhi Jal Board to work on distributing up to 20,000 litres free water a month to every home.

2. Highlights of Uttar Pradesh budget 2015-16

i. Uttar Pradesh Chief Minister Akhilesh Yadav presented Rs 3.02 lakh crore annual budget of state on 24 February 2015. 

ii. In annual budget state government has given main thrust on agriculture, education, power, health, roads and infrastructure development.

Key facts from budget 

• The budget also contains the fiscal deficit of 2.96% of the total GDP of the state. Whereas the state’s debt is expected to be around 27.5% of its GDP. 
• Taxes: For 2015-16 no new taxes have been levied in the budget. 
• Agriculture: State government has declared year 2015-16 as the Farmers year. In this regard 1000 Agri centrs will be established to promote agriculture as a good mean of livelihood among young farmer entrepreneurs. 
• Government Schemes: State government has included new schemes of over Rs 9388 crores in the budget. For farmer’s accident insurance scheme, Rs 600 crores have been allocated. 
• For women empowerment, Rs. 100 crore Mahila Samman Kosh has been created. For free laptop for meritorious students scheme, state government has allocated Rs 100 crores. 
• Power sector: Rs 25764 crores have been allocated for power up gradation and line maintenance in the state. 
• Health: State government of built state of the art cancer Institute in Lucknow with a cost of Rs 854 crores. for In proposed budget Rs 111 crores have been allocated. 
• Infrastructure: State government allocated Rs 3000 crores to Lucknow Agra Express way. It will longest elevated expressway in India on completion.

3. Rajendra K Pachauri resigned as Chairperson of Intergovernmental Panel on Climate Change

i. Dr Rajendra Kumar Pachauri stepped down as Chairperson of the Intergovernmental Panel on Climate Change (IPCC). Pachauri in a letter to UN Secretary General Ban Ki-moon said that he was unable to provide strong leadership to the organisation.

ii. The organisation will now be led by acting chair Ismail El Gizouli until the election for a new chairperson is conducted. Pachauri had chaired the IPCC since April 2002 and his second term was due to end in October 2015.

iii.. At present, Pachauri is serving as the Director General of The Energy and Resources Institute (TERI) and is also a member of the Prime Minister’s Council on Climate Change.

4. Madhya Pradesh governor Ram Naresh Yadav resigns

i. The Madhya Pradesh governor Ram Naresh Yadav tendered his resignation to the Centre

ii. This comes immediately after the Centre asked him step down following a registration of a first information report (FIR) against him in a recruitment scam.

iii.. Yadav was named in an FIR registered by a special task force (STF) probing the multi-crore Madhya Pradesh professional examination board (MPPEB) or Vyapam scam under various sections of IPC, including 420 for cheating.

5. DK Pandey appointed as Director General of Police of Jharkhand

i. DK Pandey is appointed as the Director General of Police (DGP) of Jharkhand. He is a 1984 batch Indian Police Service (IPS) officer.

ii. He succeeded Rajeev Kumar who was posted as the DGP (Training). Kumar is an IPS officer of 1981 batch.

iii. Prior to his posting as DGP of Jharkhand, D K Pandey was the Additional Director General (ADG) of Central Reserve Police Force (CRPF). 

6. Ranchi Rays wins Champions of Hero Hockey India League 2015

i. Ranchi Rays won the third edition of Champions of Hero Hockey India League (HHIL) 2015. In the final match they defeated Jaypee Punjab Warriors by score of 3-2 in the penalty shootout after 2-2 tie in regular time match.

ii. With this Jaypee Punjab Warriors took second position followed by Delhi Waveriders in third position.

Awards from the Hero Hockey India League (HHIL) 2015:

• Hero Goal of the Day- Barry Middleton of Ranchi Rays. 
• Man-of the-Match- Tyler Lovell of Ranchi Rays. 
• Hero Most Valuable Player of the Tournament- Ashley Jackson of Ranchi Rays

Read more: http://www.bankersadda.com/2015/02/daily-gk-update-25th-february-2015.html#ixzz3SobAdYAi

Daily GK Update - 24th February 2015

Daily GK Update - 24th February 2015

1. Salaries in PSU Banks increased by 15%

i. Employee unions of public sector banks withdrew their strike call following an agreement with the management on 15 per cent wage hike. 

ii. The bank unions had threatened to go on 4-day nation-wide strike from February 25 demanding 19 per cent hike in wages. The wage hike was due from November 2012. 

iii. The bank employees will now also get holidays on two Saturdays in a month. The banks, however, will work full-day on remaining Saturdays instead of the current practice of half-day.

2. Land acquisition amendment bill introduced in LS

i. The government introduced the land acquisition amendment bill in the Lok Sabha amid uproar by the Opposition.

ii. The Right to Fair Compensation and Transparency in Land Acquisition Rehabilitation and Resettlement (Amendment) Bill 2015 will replace an ordinance which had been promulgated by the NDA government on December 30 last year.

iii. Opposition parties walked out of the Lok Sabha after the government introduced the Land Acquisition Bill.

3. Indian Army and State Bank of India inked MoU

i. The Indian Army and State Bank of India (SBI) signed a Memorandum of Understanding (MoU) on the Defence Salary Package. 

ii. The MoU is tailor-made to suit the requirements of serving soldiers, pensioners and families. 

iii. The signing ceremony was chaired by the Adjutant General, Lt Gen Rakesh Sharma.

The revised MoU has incorporated a number of additional facilities and basic features of the MoU include the following

• Number of free/concessional services like free drafts, free cheque books, free funds transfers to any bank in India through RTGS / NEFT, free ATM cards and others
• The provision also includes the Nepal Express Remittance Scheme which enables instant fund transfers to Nepal for the benefit of the Nepali Domicile Gorkha Soldiers serving in the Indian Army.
• Personal Accident Insurance (PAI) was enhanced and was linked to the Savings account instead of the debit card.
• Exemption percentage of margin money for house and car loans was enhanced while the processing charges on the loans were waved off.

4. ONGC director Shashi Shankar suspended

i. The government has suspended Shashi Shankar,the director of the country's biggest oil producing company, Oil & Natural Gas Corporation Ltd. 

ii. Shankar is the youngest director on the board of the nation’s most profitable oil company.

iii. He was appointed Director (Technical and Field Services) on February 1 last year.

5. Modi government accepts Finance Commission recommendations

i. The Modi government said on Tuesday that it has accepted the recommendation of Finance Commission to raise the share of states in central taxes to 42 per cent from current 32 per cent. 

ii. As per the increased devolution suggested in the report of the 14th Finance Commission, the states will get Rs 3.48 lakh crore in 2014-15 and Rs 5.26 lakh crore in 2015-16. 

iii. PM Modi said that while the Finance Commission was in favour of all state plans being met through the resources being devolved, the Centre will continue to support national priority projects like poverty elimination, MNREGA, education, health, rural development, agriculture and a few others. 

6. Rana Bhagwandas first Hindu Chief Justice of Pakistan passes away

i. First Hindu Chief Justice of Pakistan (CJP) Rana Bhagwandas passed away in Karachi, Pakistan. 

ii. He was the first Hindu and the second non-Muslim to head of the Supreme Court of Pakistan. 

iii. In 2005 for first time he was appointed as acting Chief Justice of Pakistan (CJP) for few days and again in 2006 during the absence of then CJP Iftikhar Chaudhry.

iv. During the Pakistan’s judicial crisis of 2007, he was again appointed as acting Chief Justice.

7. Chris Gayle hits first-ever World Cup double hundred

i. West Indies opener Chris Gayle became the first batsman to score a double century in a World Cup innings when he reached the landmark against Zimbabwe in a Pool B clash.

ii. It was also only the fifth double century in all ODI cricket and the first by a non-Indian, with Rohit Sharma (two), Sachin Tendulkar and Virender Sehwag the only other batsmen to achieve the feat.

iii. The West Indian coincidentally scored his double century exactly on the day when master blaster hammered first ever ODI double ton five years ago in 2010 against South Africa in Gwalior.

Records broken by Chris Gayle:

• First batsman to score a double hundred at World Cup.
• Fastest ODI double hundred off 138 balls. Virender Sehwag was the previous fastest off 140 balls.
• Fourth batsman to score ODI double hundred.
• Equals the record for most sixes an innings - Rohit Sharma and AB de Villiers'

Read more: http://www.bankersadda.com/2015/02/daily-gk-update-24th-february-2015.html#ixzz3SicjdrWO