Daily GK Update 02nd April, 2017

Post merger, SBI begins operations as unified entity 

i. The State Bank of India, the country's largest lender has started functioning as unified entity from 01st April 2017 post merger of its five associate banks, besides Bharatiya Mahila Bank. The five associate banks merged with the SBI are State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala and State Bank of Travancore. With the merger, the SBI joins the league of top 50 banks globally in terms of assets. 

ii. The total customer base of the bank reaches 37 crore with a branch network of around 24,000 and nearly 59,000 ATMs across the country. The merged entity now has a deposit base of more than Rs 26 lakh-crore and advances level of Rs 18.50 lakh crore. 

American singer & song writer Bob Dylan accepts Nobel literature award

i. American singer and song writer Bob Dylan has finally accepted his Nobel Prize for literature, more than three months after the awards ceremony. The academy, which awards the coveted prize, ended prolonged speculation as to whether the 75-year-old troubadour would use a concert stopover in Stockholm to accept the gold medal and diploma awarded to him.

ii. They were handed to Dylan at a "private ceremony in Stockholm, Sweden" attended by 12 academy members and Sara Danius, the academy's permanent secretary.

NDB invests $1.5 billion in 7 projects in 2 years of operation

i. The BRICS-backed New Development Bank (NDB) has invested in seven projects totaling $1.5 billion in about two years of its operation. NDB began operations in July 2015. Seven projects have been done so far which aggregate around $1.5 billion. Six of them are in the renewable energy sector and one in transport financing.

ii. The New Development Bank was created with an objective of financing infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries. The Bank seeks to complement the efforts of other multilateral development institutions. And, it also seeks to establish a network of global, regional and local partnerships with multilateral and national development banks as well as other institutions and market players.

Jepkosgei smashes three world records at Prague Half Marathon

i. Kenya's Joyciline Jepkosgei has broken the world half marathon record as well as the 10km and 15km marks at the Prague Half Marathon on the way to winning the IAAF Gold Label Road Race in one hour, four minutes and 52 seconds.

ii. The 23-year-old, who was competing in just her fifth half marathon, clocked splits of 30:05 and 45:37 to improve the 10km and 15km world records. Defending champion Violah Jepchumba of Kenya finished second in 65:22, with Fancy Chemutai third.

World Autism Awareness Day: 02nd April 2017

i. The World Autism Awareness Day 2017 has been observed across the world on 2 April 2017. The 2017 theme for the day is "Toward Autonomy and Self-Determination". World Autism Awareness Day is an internationally recognised day, encouraging Member States of the United Nations to take measures to raise awareness about children with autism throughout the world.

ii. Autism is a lifelong neurological condition that manifests during early childhood, irrespective of gender, race or socio-economic status. The term Autism Spectrum refers to a range of characteristics. Appropriate support, accommodation, and acceptance of this neurological variation allow those on the Spectrum to enjoy equal opportunity and full and effective participation in society.

Second annual meeting of BRICS New Development Bank held in New Delhi

i. A new financial order built by the emerging BRICS economies of Brazil, Russia, India, China and South Africa. New Delhi is playing host to Second Annual Meeting of the New Development Bank (NDB) also known colloquially as BRICS bank. This is the first time the meet is happening in India. MOUs were signed between NDB and European Investment Bank (EIB), European Bank for Reconstruction and Development (EBRD), Asian Infrastructure Investment Bank (AIIB), Eurasian Development Bank (EDB) and International Investment Bank (IIB). 

ii. India has sought USD 2 billion loans for various projects from the NDB. India has also signed a 350 million dollar loan agreement with NDB for financing Development and Upgradation of Major District Roads in Madhya Pradesh. This is the First Loan Agreement for NDB assisted project in India. In the event Finance Minister Arun Jaitley stated that India has successfully implemented a number of reforms and Indian economy is expected to grow at 7.2 percent in 2017 and at the rate of 7.7 per cent in 2018.

PM Narendra Modi opens Asia's longest tunnel 

i. Prime Minister Narendra Modi has inaugurated the 9.2 km long Chenani-Nashri all-weather road tunnel on the Jammu-Srinagar National Highway. The road tunnel will reduce the travel time between the two state capitals of Jammu and Srinagar by approximately two hours. The two-lane Chenani-Nashri tunnel is Asia's longest bi-directional highway tunnel, which will cut the distance between Jammu and Srinagar to around 250 km from the current 350 km. 

ii. The world's sixth road tunnel has a transverse ventilation system enabled and controlled by ABB software. It also boasts features like Integrated Traffic Control System (ITCS), Video Surveillance System, FM Rebroadcast System, Entrance Detection Control System and Active Firefighting System. There are 124 closed-circuit TV cameras for surveillance inside the tunnel. In case of a traffic violation, the control room will inform the traffic police deployed outside the tunnel, who will fine the violators on the spot. The new 9.2 kilometre Chenani-Nashri tunnel in Jammu & Kashmir, the longest highway tunnel in Asia, will feature a state-of-the-art ABB ventilation system to ensure that users have access to fresh air as they drive through it.

Important Takeaways from above GK Update are as follows-

• State Bank of India was established on July 1, 1955.
• Five associates and the Bharatiya Mahila Bank became part of the State Bank of India.
• State bank of India is the country's largest lender.
• Chairperson of SBI is Mrs. Arundhati Bhattacharya.
• The headquarter of SBI is in Mumbai, Maharashtra.
• SBI joins the league of top 50 banks globally in terms of assets. 
• The Nobel Prize in Literature 2016 was awarded to Bob Dylan
• Mr. Bob Dylan is American singer-songwriter.
• Stockholm is the capital city of Sweden.
• The Nobel Prize in Literature is awarded by the Swedish Academy.
• Rabindranath Tagore was the first Indian ever to receive a Nobel Prize.
• Rabindranath Tagore was awarded the Nobel Prize for Literature in recognition of his work Geetanjali, a collection of poems, in 1913.
• NDB has an initial authorized capital of US$ 100 billion. 
• Mr. K.V. Kamath (India) is President of NDB.
• The headquarter of NDB is in Shanghai, China.
• The New Development Bank (NDB) floated by the BRICS nations.
• The BRICS nations - Brazil, Russia, India, China and South Africa.
• Joyciline Jepkosgei has completed her fifth half marathon just in one hour, four minutes and 52 seconds.
• Joyciline Jepkosgei is from Kenya.
• Prague is the capital city of the Czech Republic.
• The World Autism Awareness Day observed on 02nd April.
• World Autism Awareness Day is an internationally recognized day.
• The 2017 theme for World Autism Awareness day is "Toward Autonomy and Self-Determination".
• World Autism Awareness day encouraging the Member States of the United Nations.
• Antonio Guterres is Secretary-General of United Nations (UN).
• New Delhi is playing host to Second Annual Meeting of the New Development Bank (NDB).
• AIIB stands for Asian Infrastructure Investment Bank.
• Arun Jaitley is Finance Minister of India.
• India has sought USD 2 billion loans for various projects from the NDB.
• The 9.2 km long road tunnel is built between Chenani in Udhampur District and Nashri in Ramban District of Jammu & Kashmir.
• It is also known as Patnitop Tunnel.
• Chenani-Nashri Tunnel is the country's first and the world's sixth road tunnel with a Transverse Ventilation System.
• It is located at an altitude of 1,200 meters in the heart of the Himalayas.
• The 24.5-kilometer long Laerdal Tunnel in Norway is the longest road tunnel in the world.
• Prime Minister Narendra Modi has inaugurated the 9.2 km long Chenani-Nashri road tunnel.