Daily GK Update 5th Feb 2015

New Sri Lanka president Maithripala Sirisena renews troop deployment orders

(i) Sri Lanka's new President Maithripala Sirisena has renewed orders allowing for troops to be deployed across the island, dampening hopes Thursday of a lower-profile military presence under his rule.

(ii) Sirisena's election last month had been expected to lead to a lessening of the numbers of troops in towns and cities - particularly in former war zones - which had been a prominent feature of his hardline nationalist predecessor Mahinda Rajapaksa's tenure.

(iii) During the build-up to his election victory, Sirisena promised to confine the military to their barracks and call them out only in the event of an emergency or a threat to national security.

Alibaba to invest in Paytm; enters Indian mCommerce space

(i) Alibaba will acquire 25 per cent stake in One97 Communications, the parent of mobile commerce firm Paytm, as the Chinese eCommerce giant makes its debut in the rapidly expanding mCommerce space in India. 

(ii) Ant Financial Services, part of the Alibaba Group, today said in a statement it has entered in a strategic agreement to acquire "a 25 per cent stake in One97 to support the growth of mobile payment and commerce platform in India". 

(iii) Alibaba is the world's biggest e-commerce firm, which raised USD 25 billion through IPO in the US last September -- the largest by any firm globally. 

HDFC Bank raises close to Rs 10,000 crore in secondary market

(i) Country's largest lender by market value HDFC Bank today raised Rs 9,880 crore in the largest share sale in the secondary market by a private entity to overseas and domestic investors through a mix of qualified institutional placement and American depository shares. Merchant bankers said the issue has been successfully closed and the final pricing is expected shortly.

(ii) According to merchant bankers who include Barclays, JM Financial, Citi, JP Morgan and BofA-ML among others, said the bank opened the QIP issue first and the ADR was launched a few hours later. 

N. Srinivasan wants to contest in election for the BCCI president post

(i) Former BCCI President N. Srinivasan, who is caught amidst IPL betting and spot fixing controversies, wants to return as BCCI President, according to NDTV.

(ii) Srinivasan wants to contest the BCCI elections to get his chair back. He will be holding a meeting with his loyalists on Saturday.

(iii) The former BCCI President met Finance Minister Arun Jaitley on Tuesday.

(iv) Jaitley made it clear to Srinivasan that he cannot go against the orders of the Supreme Court.

Taiwan plane crash: 24 victims identified

(i) Twenty-four of the 31 people killed in Wednesday’s TransAsia Airways plane crash in Taiwan have so far been identified, officials said.

(ii) Flight GE235, en route to Kinmen from Taipei with 53 passengers on board, crashed in the Keelung river on Wednesday after its wing clipped a taxi on an elevated freeway 10 minutes after takeoff, Xinhua reported.

(iii) According to official reports, 31 people have been confirmed killed, 15 injured and 12 others missing.

(iv) Besides those on the plane, a driver and a passenger in the taxi clipped by the plane before it plunged into the river were also injured.

Srinjay Bose resigns from Trinamool, Rajya Sabha

(i) Srinjay Bose, Rajya Sabha MP of the ruling Trinamool Congress (TMC) in West Bengal, who was released on bail on Wednesday in the Saradha scam case, has resigned from the party. 

(ii) He has also given up his Rajya Sabha seat.

(iii) In his resignation letter, Mr. Bose has admitted that politics is not his “cup of tea” and thus he has decided to resign from the primary membership of the party and his his seat in Parliament.

Kolkata Book Fair losing its charm

(i) Kolkata Book Fair is perhaps the most eagerly awaited non-religious festival that receives the highest footfall among all book fairs in Asia. 

(ii) In spite of the Book Fair being the “pride of Bengal,” as West Bengal Chief Minister Mamata Banerjee puts it, one of Bengal's most revered poets Shankha Ghosh has decided not to visit it this year.

(iii) The Kolkata Book Fair is no longer a celebration of literature. The focus of the Fair is shifting. The space is being taken up by political parties and the State government’s prominence is increasing.

Olympic Games - New sports for Tokyo Games to be decided in 2016

(i) Programme changes approved by the IOC late last year allow it to bring in more sports and cut some events as it works to keep the Olympics relevant to spectators and sponsors, with baseball and softball -- out of the Games since Beijing in 2008 -- believed to be prime contenders.

(ii) In Tokyo for a review of preparations for the 2020 Games, laid out a timetable that included setting assessment criteria for proposed sports by April this year, and then go to an IOC session for determination just before the start of the Rio Olympics in August 2016.

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Daily GK Update - 4th Feb 2015

Madonna to perform at 2015 Brit awards

(i) Pop diva Madonna is all set to perform at 2015’s Brits awards, two decades since she last took to the stage at the ceremony.

(ii) The 56-year-old singer will stoke anticipation for her upcoming 13th studio album, Rebel Heart, to be released on March 9, reported Guardian online.

(iii) Announcing the news on Instagram, Madonna posted an image of Tracey Emin’s Brit statuette with black wire across its face with the caption, “Hello to all my UK Rebel Hearts! See you at the Brits on Feb 25th

Modi wishes Sri Lankans on their Independence Day

(i) Prime Minister Narendra Modi on Wednesday wished the neighbouring country Sri Lanka on the its 67th Independence Day.

(ii) In three seperate tweets in English, Sinhala and Tamil, Mr. Modi said: "On their Independence Day, my greetings to people of Sri Lanka.The bonds of history, culture & shared values that we share are unbreakable."

(iii) "My best wishes for the development of Sri Lanka in the years to come. I look forward to welcoming President Sirisena later this month," he added.

Saloni Dalal became youngest medal winner in National Games 2015

(i) Saloni Dalal, a school girl of Karnataka became the youngest medal winner in the ongoing 35th National Games in Kerala on 3 February 2015. 

(ii) The 12-year-old, Saloni won a Bronze medal in the 200 meter breast stroke swimming event. 

(iii) Kalyani Saxena of Gujarat and Rutuja Udeshi of Maharashtra won the gold and silver medals of the 200 meter breast stroke swimming event, respectively.

Economy needs to grow yearly at 7-8%: Jayant Sinha

(i) Given the growth-inflation conundrum with the union budget due later this month, Minister of State for Finance Jayant Sinha on Wednesday said the government wants to put the economy on sustainable non-inflationary growth trajectory of over seven per cent.

(ii) We want to put India on a sustainable non-inflationary growth trajectory of seven to eight per cent growth. 

(iii) We need to have seven to eight per cent growth to provide employment to young people that join the workforce every year,” Mr. Sinha said here at The Energy and Resources Institute (TERI)-organised 15th Delhi Sustainable Development Summit.

Madhusudhan Prasad appointed as Secretary in the Union MoUD

(i) Madhusudhan Prasad was on 3 February 2015 appointed as the Secretary in the Union Ministry of Urban Development (MoUD). 

(ii) Earlier, he served as Special Secretary in the Union Ministry of Commerce.

(iii) Madhusudhan Prasad is an Indian Administrative Service (IAS) Officer of 1981 batch belonging to Haryana cadre. 

(iv) Prasad held the posts of Collector of Sirsa district and Principal Secretary (Power) in the state of Haryana. 

(v) He was a Director and Joint Secretary in the Department of Economic Affairs and Additional Secretary in the Union Ministry of Commerce.

Did not press resignation from AICC wing, says Karan Singh

(i) Senior Congress leader Karan Singh had submitted his resignation as chairman of the foreign affairs department of the All India Congress Committee, but did not press it after a meeting with party president Sonia Gandhi.

(ii) Mr. Singh told The Hindu that he had sent the resignation to Ms. Gandhi after he was not included in the party delegation that called on U.S. President Barack Obama during his India visit.

(iii) Ms. Gandhi called me soon after I sent the letter, but I could meet her only the next day. After the meeting, I felt that it would not be appropriate to press the resignation,” Mr. Singh said.

Modi’s Beijing visit could be the ‘opportunity of the century’

(i) External Affairs Minister Sushma Swaraj has wrapped up a three-day visit to China on Tuesday, amid expectations that Prime Minister Narendra Modi’s arrival in May is likely to spur economic ties, and improve the management of differences in the security domain.

(ii) Sections of the Chinese media are interpreting Ms. Swaraj’s audience with President Xi Jinping as an exceptional gesture from the Chinese side, signalling the importance Beijing now attaches to ties with India. 

(iii) Global Times, the daily affiliated to the Communist Party of China, quoted an academic from the Institute of International Relations at the Shanghai Academy of Social Sciences as saying that, “In a rare meeting with a visiting foreign minister, the Chinese President has demonstrated the importance he attaches to Sino-Indian relations.”

Obama-Modi talks high on optics, many pacts not signed

(i) Negotiations over the India-United States nuclear deal continued until “Air Force One landed in Delhi” carrying President Barack Obama. 

(ii) According to sources, the nuclear deal and other agreements announced during Mr. Obama’s visit to India for Republic Day were being finalised right down to the moment his plane touched down.

(iii) It was a good thing we were connected over the e-mail right through his flight, or we may not have been able to wrap things up in time,” said a source aware of the negotiations.

(iv) One week after the visit, details are slowly emerging about the agreements that were announced between Prime Minister Narendra Modi and President Barack Obama after bilateral talks in Delhi. 

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Daily GK Update - 03 Feb 2015

Indians can invest up to $2,50,000 annually overseas

(i) Encouraged by foreign exchange reserves touching record levels, the Reserve Bank of

India (RBI) on Tuesday doubled the annual overseas investment ceiling for individuals to $2,50,000.

(ii) On a review of the external sector outlook and as a further exercise in macro-prudential management.

(iii) It has been decided to enhance the limit under the Liberalised Remittance Scheme (LRS) to $2,50,000 per person per year,” the RBI said in its Bi-Monthly Monetary Policy Statement.

Pakistan successfully test-fired Air Launched Cruise Missile Ra’ad

(i) Pakistan on 2 February 2015 successfully test-fired indigenously developed Air Launched Cruise Missile (ALCM) Ra’ad. The missile, also called Thunder in Arabic, has been developed by Pakistan's Air Weapons Complex and NESCOM.

(ii) The missile gave Pakistan Air Force a strategic standoff capability on land and at sea indicating that Ra'ad can be launched at sea-based targets such as ships as well as land-based targets.

(iii) Ra'ad was tested for the first time on 25 August 2007.

Photo journalist Krishna Murari Kishan passed away

(i) Kishan is survived by two sons and three daughters. One of his son Amrit Jaikishan is also a photo journalist. 

(ii) Kishan began his career as a simple photographer for local news media and later he worked as a  freelance photojournalist. 

(iii) Krishna Murari Kishan rose to prominence by earning national acclaim due to his many exposes. Krishna Murari Kishan had won praise for communal riots coverage in Jamshedpur in 1978 and in Bhagalpur in 1989.

RBI keeps key rate unchanged

(i) The Reserve Bank of India (RBI) has decided to keep the policy Repo rate under the liquidity adjustment facility (LAF) unchanged at 7.75 per cent.

(ii) Also, it has kept the cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 per cent of net demand and time liabilities (NDTL).

(iii) However, it has reduced the statutory liquidity ratio (SLR) of scheduled commercial banks by 50 basis points from 22.0 per cent to 21.5 per cent of their NDTL with effect from the fortnight beginning February 7, 2015.

Iran launches new satellite into space

(i) Iran on Monday launched its fourth satellite into space, a media report said.

(ii) The satellite is named ‘Fajr’ to mark the ten-day celebrations following the 1979 Islamic Revolution, IRNA news reported.

(iii) Fajr is the fourth Iranian-made satellite put into orbit.

(iv) Equipped with GPS navigation system, the satellite was put into orbit aboard the ‘Safir’ launch vehicle.

M. Venkaiah Naidu bid farewell: Dr. Nandita Chatterjee appointed as new Secretary of HUPA

(i) M  Venkaiah Naidu bid farewell to outgoing Secretary(UD) Shankar Aggarwal and

Secretary(HUPA) Anita Agnihotri as Dr Nandita Chatterjee took over as the new secretary in the Ministry of Housing & Urban Poverty Alleviation (HUPA) on February2, 2015.

(ii) Dr. N. Chatterjee has served in the Government of India in the Ministries of Rural Development and Environment & Forests.

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Daily GK Update - 1st And 2nd Feb 2015

Steel Minister inaugurates new plate mill at RSP

(i) Steel and Mines Minister Narendra Singh Tomar on Sunday inaugurated the rolling facilities of the new plate mill at SAIL’s Rourkela plant.

(ii) The new 4300 mm wide plate mill, the state owned steel major said, is one of the widest plate mills in the country. 

(iii) The mill includes advanced features like computerized control system for plan view rolling process and has a capacity of one million tonne per annum with provision for expanding it to 1.8 million tonne per annum.

Carl Djerassi, father of birth control pill passes away

(i) Carl Djerassi, 91, the chemist widely considered the father of the birth control pill, died on Saturday.

(ii) Djerrasi died of complications of cancer in his San Francisco home, Stanford University spokesman Dan Stober said.

(iii) Djerassi, a professor emeritus of chemistry at Stanford, was most famous for leading a research team in Mexico City that in 1951 developed norethindrone, a synthetic molecule that became a key component of the first birth control pill.

India and China jointly launched Visit India Year in China

(i) India and China on 2 February 2015 jointly launched the Visit India Year in China in Beijing during the visit of Indian External Affairs Minister Sushma Swaraj to China.

(ii) The initiative is aimed at enhancing the flow of tourists from China to India and to strengthen the people to people bond. China will support the promotion of Indian tourist resources in its country. 

Macro-economic indicators favour rate cut by RBI, say bankers

(i) With inflation under control, bankers believe that macroeconomic indicators are conducive for a further rate cut of 0.25 per cent by RBI on Tuesday, even as some expect the central bank to maintain a status quo.

(ii) The improving fiscal situation, in the wake of a record Rs. 22,577 crore garnered from CIL stake sale, and weakness in manufacturing sector are among pointers towards a possible cut in rates, experts said.

(iii) However, some bankers said the RBI Governor Raghuram Rajan may go for a status quo and would like to wait for cues from the Budget presentation on February 28 before undertaking any rate cut.

Mithileshwar awarded with Shrilal Shukla Sahitya IFFCO Award 2014

(i) Hindi novelist Mithileshwar was on 31 January 2015 awarded with Shrilal Shukla Sahitya IFFCO Award 2014. 

(ii) He is the fourth recipient of this literary award.

(iii) Mithileshwar belongs to Bhojpur district and is known for his insight into the rural heartland of India. He began writing during his student period. 

Prasanth Kumar appointed as CEO of MindShare South Asia

(i) Prasanth Kumar was on 1 February 2015 appointed as Chief Executive Officer (CEO) of MindShare APAC South Asia with effect from 1 March 2015. 

(ii) He will succeed the current CEO Ravi Rao.

(iii) Prasanth Kumar will report to Srinivas, CEO of GroupM South Asia and Gowthaman Ragothaman, COO of MindShare Asia Pacific.

Base year change pushes 2013-14 GDP growth to 6.9%

(i) The Modi Government, on Friday, sharply revised India’s 2013-14 GDP growth estimate to 6.9 per cent from 4.7 per cent. 

(ii) The 2012-13 growth estimate was revised to 5.1 per cent from 4.5 per cent.

(iii) Former Finance Minister and Congress leader P. Chidambaram said that the data released showed that the 10 years of the UPA government recorded the highest decadal growth since Independence.

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