Daily GK Update 18th February, 2017

Daily GK Update 18th February, 2017

Aadhaar card to be mandatory for College & University students availing benefits under Central Scholarships scheme

i. Union Human Resource Development Ministry has stated that to avail benefit under the Central Sector Scholarship Scheme for College and University students, applicants will now have to furnish proof of possession of Aadhaar card or undergo Aadhaar authentication. 

ii. HRD ministry notification issued in New Delhi stated that those who are receiving these scholarships but don't have an Aadhar card will have to apply for enrolment by June 30th,2017. It is, however, not applicable in Jammu and Kashmir

Banks Board Bureau Appoints Eight Executive Directors in Various Banks

Eight Executive Directors (EDs) have been appointed in various public sector banks on the recommendations of Banks Board Bureau Initially, they have been appointments for a three-year period.

List of Appointed Executive Directors

i.Neelam Damodharan and Atanu Kumar Das have been appointed as EDs in Bank of India. Presently, Damodharan serves as the General Manager in Bank of Baroda and Das is General Manager in Vijaya Bank.

ii. K Swaminathan, the General Manager in Indian Overseas Bank, has been appointed as ED in Indian Overseas Bank.

iii. Ashok Kumar Pradhan has been appointed as the ED in United Bank of India. Presently he serves as the Chief General Manager with State Bank of Bikaner and Jaipur.

iv .P Ramana Murthy will be Executive Director of Central Bank of India. He is GM of Allahabad Bank.

v. Fareed Ahmed Khan, General Manager of Corporation Bank, has been appointed as the ED in Punjab and Sind Bank.

vi. M K Bhattacharya, Chief General Managers of State Bank of Mysore has been appointed as the EDs of Indian Bank

vii. S Harishankar who serves as Chief General Managers of State Bank of Travancore has been appointed EDs of Allahabad Bank.

UDAN scheme to increase number of airports by 50

i. The implementation of the regional air-connectivity scheme, UDAN, will see the number of operational airports in the country shoot up by over 50, while the cost of travelling will come down to as low as ₹2,500 for up to an hour of air journey.

ii. According to Sinha, there are 75 small operational airports in the country, and this number will increase to over 125 with the successful implementation of UDAN (Ude Desh ka Aam Nagrik) — the new scheme through which the government hopes to make flying viable to Tier II and III cities.

Sumitra Mahajan to inaugurate 2-day South Asian Speaker’s summit at Indore in Madhya Pradesh

i. Lok Sabha Speaker Sumitra Mahajan will inaugurate the two-day South Asian Speaker’s summit at Indore in Madhya Pradesh.Speakers of six countries will deliberate on ways to achieve sustainable development goals. 

ii. Summit is organized by the Indian Parlianment and Inter-Parliamentary Union which is focused on Achieving Sustainable Development Goals in member countries. Representive from Afganistan, Bangladesh, Bhutan, India, Maldives, Nepal and Sri lanka are attending the summit. Representatives from Pakistan and Myanmar are not attending the sumit due to their personal reasons. 

Aero India 2017 begins at Yelahanka in Bengaluru

i. 11th biennial edition of the International Aerospace and Defence exhibition Aero India begans at the Air Force Station, Yelahanka in Bengaluru. The five-day event was inaugurated by Defence Minister Manohar Parrikar.

ii. On the first three days number of MOUs was signed under manufacturing sector. HAL, the premier Aeronautics giant received several crore rupees worth contracts for manufacturing sub-parts of aircrafts. 

iii. Boeing and Rolls Royce have signed MOUs to set up manufacturing base in India and Airbus will set up Centre of Excellence for Aerospace skills development in Hyderabad.

Madhya Pradesh launches 'Mil Banche' programme in all govt schools

i. In Madhya Pradesh 'Mil Banche’ programme was held in all the primary and middle government schools. Chief Minister Shivraj Singh Chouhan, his minister colleagues, public representatives and other dignitaries took classes in these schools to motivate children.

ii. After taking class, they urged students to adopt good virtues and set a big target for the life. He also shared his memories and experiences with students.

Government Increases the Cash Credit Limit For MSMEs To 30 %

i. The Union government has increased the Cash Credit (CC) limit for Micro, Small and Medium Enterprises (MSMEs) to 30% of turnover from the existing 20% to encourage them to conduct businesses digitally.

ii. Through digital means of conducting the business, the balance sheet of companies would be clean and this would help MSMEs to get loans from banks and promote Ease of Doing Business.Presently the taxes for MSMes are calculated at 8% for revenue of up to Rs 2 crore. With digital transaction, tax liability will be reduced from 8% to 6%.

Karnataka Bank Launches National Pension System in Mangaluru

i. Mangaluru based private sector lender Karnataka Bank Ltd launched National Pension System (NPS) at its corporate office in Mangaluru. To provide financial security at old age by giving regular income in the form of pension.

ii. Under the scheme, one can contribute to NPS while earning and eventually start receiving pension on his/her attaining the age of 60 years to meet their financial needs.

iii. To avail the benefit, any individual between the ages 18-60 years can register their name with the bank branch to contribute and to get pension benefit.

Canara Bank Inks MoU with HRD Ministry to Start Higher Education Financing Agency

i. Bangalore based Public sector Canara Bank has signed a Memorandum of Understanding (MoU) with the Human Resource Development (HRD) Ministry to operationalize the Higher Education Financing Agency (HEFA). 

ii. The establishment of the Higher Education Financing Agency (HEFA) was approved by the Union Cabinet in September 2016.Through this MoU, HRD Ministry and Canara Bank will jointly promote the HEFA with an authorised capital of Rs. 2,000 crore.

Mastercard to Provide Payments Processing Solution for Airtel Payment Bank

i. Leading global payments and technology firm, Mastercard is set to provide payments processing solution to Airtel Payments Bank.

ii. The payment processing platform will enable the Airtel Payment Bank in providing various payment services like switching, card management along with support for reconciliation and dispute management processes

AirAsia signs MoU with Odisha Government for two-ways Direct Flights

i. Malaysia-based low-cost airline AirAsia has signed a Memorandum of Understanding (MoU) with the Odisha government to start two-way direct international flights from Bhubaneswar to Kuala Lumpur.

ii. The agreement was signed between Nitin Bhanudas Jawale, Director of Tourism  AirAsia signs MoU with Odisha Government for two-ways Direct FlightsDepartment in Odisha and AirAsia Chief Executive Officer (CEO) Aireen Omar.The airline will begin its flight service from the Biju Patnaik International Airport by end of March 2017.

South Indian Bank bags award for tech security practices

i. South Indian Bank has been awarded with ISO 27001: 2013 certification for its Information Security Management System (ISMS). 

ii. V.G. Mathew, MD and CEO of the bank received the certificate from Venkataram Arabolu, Managing Director, BSI Group India at an official ceremony.

Corporation Bank Bags 2017 National MSME Excellence Award

i. Mangalore based public sector lender Corporation Bank was awarded the 2017 National MSME Excellence Award at a function in New Delhi. 

ii. D V Subramanya Varma, General Manager of Corporation Bank received the award from Union Minister of State for Micro Small and Medium Enterprises, Haribhai P Choudhary. The award is instituted by the Federation of Industry, Trade and Services (FITS).

ISRO successfully tests its indigenously developed Cryogenic Upper Stage engine for GSLV Mark III rocket

i. Indian Space Research Organisation (ISRO) has successfully ground tested its indigenously developed Cryogenic Upper Stage engine for GSLV Mark III at its Liquid Propulsion Complex at Mahendragiri in Tirunelveli district of Tamil Nadu.

ii. The C25 stage is the most powerful upper stage developed by ISRO and uses Liquid Oxygen and Liquid Hydrogen propellant combination. The development of C25 cryogenic stage will provide ISRO capability to launch four ton class satellites in Geosynchronous Transfer Orbit.

Melody Queen Lata Mangeshkar honoured with 'Legendary Award ' 2017

i. Melody Queen Lata Mangeshkar has been honoured with the 'Legendary Award ' 2017 by Brand Laureate. The Brand Laureate Awards recognise world-class achievement in branding amongst individuals and companies. 

ii. Lata expressed her heartfelt thanks to the Brand Laureate on twitter for honouring her. In 2012, actor Shah Rukh Khan was honoured with the Brand Laureate Legendary Award for his unmatched contribution to Indian Cinema.

President Mukherjee greets on eve of Independence Day of Gambia

i. President Dr. Pranab Mukherjee has extended his greetings and felicitations to the Government and people of the Islamic Republic of The Gambia on the occasion of their Independence Day (18 February 2017). 

ii. On the 18th February of each year which marks the day when Gambia gained full independence from colonial Britain in 1965. It is normally celebrated in Banjul at McCarthy Square with a march pass by school children, civil servants, the army, teachers and others in front of the President and other dignitaries.

Veteran Hindi Scholar and Novelist Surendra Verma Selected for 2016 Vyas Samman

i. Renowned Hindi litterateur and playwright Surendra Verma has been selected for 2016 Vyas Samman for his novel Kaatna Shami Ka Vriksha Padma Pankhuri Ki Dhar Se. 

ii. This novel was published in the year 2010. Mr Verma would be presented a cash prize of Rs. 3.50 lakh a citation and a logo for the prestigious award instituted by K K Birla Foundation.

NRAI gets highest WHO ratings for vaccine regulations

i. National Regulatory Authority of India (NRAI) has been given the maximum ratings by the World Health Organisation for vaccine regulations.

ii.  An official statement stated that in New Delhi  WHO completed the assessment of the status of the Indian vaccine regulatory system against WHO NRA Global Benchmarking Tool and measured the maturity of the system in India. India is one of the main players in the pharmaceutical industry worldwide. 

iii. India, as a large vaccine producing country, is currently supplying several vaccines to the UN agencies (UNICEF, WHO and PAHO)

Aero India copy 5HAL signs MoU with CPWD to build helicopter facility at Tumakuru,Karnataka

i. Hindustan Aeronautics Limited (HAL), signed a Memorandum of Understanding (MoU) with Central Public Works Department (CPWD) for execution of infrastructure development works at HAL’s new Greenfield helicopter facility at Tumakuru. 

ii. The MoU was signed at Aero India 2017 

Muthoot Exim, Divine Solitaires tie up

i. Muthoot Exim has tied with Divine Solitaires Pratham to retail Swarnavarsham diamond jewellery. To start with, the company will offer 18-karat gold rings studded with 0.14 cents diamond of EF colour and VVS clarity.

 ii. The ring is being offered in three sizes of 12mm, 14mm and 16mm with weight of gold as 2gm, 2.2gm and 2.4gm. One year free insurance is also offered on diamonds.

Raytheon signs MoU with TASL for co-production of Stinger missile components

i. Raytheon Company has signed a memorandum of understanding (MoU)with Tata Advanced Systems Ltd (TASL) to engage in the co-production of Stinger air defence missile components.

ii. Agreement with Tata Advanced Systems deepens  industrial partnership in India with a global technology leader and will expand the range of options and capabilities for US and coalition forces to achieve their missions

Maini Precision ties up with Marshall Aerospace for aircraft machined parts

i. Maini Precision Products (MPP) and Marshall Aerospace and Defence Group, Cambridge, UK, have entered into a multimillion dollar contract for structural machined parts and sub-assemblies for a major aircraft programme.

ii. With this contract, MPP is now positioned as the single source from India to support Marshall for their manufacturing requirements for the duration of this program.

NALCO signs MoU with TERI for sustainable rehabilitation

i. Odisha based National Aluminium Company Limited(NALCO) has signed Memorandum of Understanding (MoU) with The Energy and Resources Institute (TERI) in New Delhi.

ii. Objective of the agreement is to Scientific, technological and educational activities in the area of mining rehabilitation.The agreement will further strengthen initiatives being undertaken under Sustainable Development Framework (SDF).

JLL Named to FORTUNE’s 2017 World’s Most Admired Companies List

i. Leading professional services firm JLL has once again been named to FORTUNE magazine’s World’s Most Admired Companies list of 2017 based on their reputation for innovation, top talent and global competitiveness.

ii. JLL is an American professional services and investment management company specializing in real estate and investment management and helps real estate owners, occupiers and investors achieve their business ambitions.

Havells India to buy Lloyd Electric’s consumer business for Rs 1500 crore

i. An electrical equipment company, Havells India has announced to acquire Lloyd Electric & Engineering for its consumer durables business for around Rs 1200 -1500 crore.

ii. Lloyd’s other business divisions includes heat exchangers, original equipment manufacturing and packaged AC business.

Former MP Jambuvantrao Dhote passes away

i. Former MP Jambuvantrao Dhote died this morning in Yavatmal of Maharashtra due to heart attack. The 83 year old leader was known for his demands of a separate state for Vidarbha. 

ii. Mr Dhote won his first election to Lok Sabha in 1971 from Nagpur as a Forward Bloc nominee. Later in 1980, he joined Congress and won the Nagpur seat on the Congress ticket. 

PV Sindhu Attains Career-Best Rank at No. 5 in BWF Rankings, Saina Placed at No. 9

i. Indian ace shuttler PV Sindhu achieved her career best Badminton World Federation (BWF) women’s single ranking by being placed at 5th spot Previously the top seeded player was placed at sixth position. 

ii. The only second Indian to be placed among the top 10 spots is Saina Nehwal who has  PV Sindhubeen placed at No. 9. 

iii. The BWF women’s single ranking has been topped by Tai Tzu Ying of the Chinese Taipei.