Daily GK Update 22nd June 2017

1. Mumbai most expensive for expatriates in India: Mercer's Survey

i. Mumbai is the most expensive city for expatriates in India and is ranked higher than major global cities such as Paris, Canberra, Seattle and Vienna.  According to Mercer's 23rd annual Cost of Living Survey, Mumbai is placed 57th on the list while New Delhi was placed at 99. Chennai (135), Bangalore (166) and Kolkata (184) were the other Indian cities on the list.

ii. Luanda, the capital of Angola, was the costliest city, driven by cost of goods and security, followed by Hong Kong and Tokyo at the second and third places, respectively.

Important Takeaways-

• Luanda is the Capital of Angola.
• Mercer is the world's largest human resources consulting firm, Headquartered in New York City.

2. Indore- India’s first city to use robot to control unruly traffic

i. The number one clean city of India - Indore has got another milestone to its name. This commercial capital of Madhya Pradesh has reportedly become the first city in India where the robot is being used on an experimental basis to control its ever growing and unruly traffic.

ii. The traffic police in association with a private engineering college of the city for the first time has installed a metallic robot at a busy MR 9 intersection on an experimental basis to control the chaotic traffic in the locality.

Important Takeaways-

• As per the recent survey of Government, Indore is the Cleanest city in India.
• Indore is the City in Madhya Pradesh.

3. Qatar Airways is voted the World’s Best Airline in 2017

i. Qatar Airways was announced the World’s Best Airline at the SKYTRAX 2017 World Airline Awards. Qatar Airways was voted Best Airline by travelers across the world in the annual passenger survey.

ii. The Doha-based carrier has now won the prestigious Airline of the Year title for a fourth time. Qatar Airways also won the World’s Best Business Class, the World’s Best First Class Lounge and the Best Airline in the Middle East awards.
iii. On the other hand, Malaysia-based Air Asia won awards for being the Best Low-Cost Airline in Asia for a month year in the row, and also as World's Best Low-Cost Airline Premium Cabin 2017.

The world's Top 5 airlines are-

1. Qatar Airways,
2. Singapore Airlines,
3. ANA All Nippon Airways,
4. Emirates,
5. Cathay Pacific.

Important Takeaways-

• Dubai-based Emirates was the winner of SKYTRAX 2016 World Airline Awards.

4. China unveils World’s first train that runs on Virtual Tracks

i. China has unveiled the world's first train that operates on a virtual track using sensor technology instead of metal rails. The new trains are battery powered and are nonpolluting.
ii. The train's top speed is 70 kilometers per hour, and it can travel 25 kilometers in distance after just 10 minutes of charging. The train will be ready to roll out to the public by 2018.

Static Takeaways-

• The capital of China is  Beijing and its Currency is Renminbi.
• The President of China is Xi Jinping.

5. India, Russia identify key areas to boost cooperation in Science & Technology sector

i. India and Russia have identified key areas to bolster cooperation in the science and technology sector, including space and marine technologies, IT and deep ocean engineering. The areas were chosen at the first meeting of India-Russia Joint Committee on Science and Technology Cooperation in the Siberian city of Novosibirsk.

ii. The meeting was co-chaired by Defence Minister Arun Jaitley and Russian Deputy Prime Minister Dmitryi Rogozin. Inspired by India's 'Make in India' initiative, Moscow has launched a “Do It In Russia” initiative to promote local manufacturing and technology development.

Important Takeaways-

• The Capital of Russia is Moscow and its Currency is Russian ruble.
• The President of Russia is Vladimir Putin.

6. SEBI relaxes norms for banks to take over stressed assets of listed companies to recover bad loans

i. Capital markets regulator, SEBI (Securities and Exchange Board of India) relaxed takeover norms for the acquisition of stressed assets of listed companies to help the government and the RBI in their efforts to tackle bad loans.

ii. SEBI Chairman Ajay Tyagi took the decision after a board meeting in Mumbai. SEBI’s board also approved a proposal to tighten rules for participatory notes through the imposition of a regulatory fee on issuers of such instruments. SEBI will also issue a discussion paper for easier registration of foreign investors.

The Important decisions in the meeting are as follows:

1. Restructuring in stressed companies.

2. Resolution plans approved under the Insolvency and Bankruptcy Code, 2016

3. Extension of Lock-in-relaxation to Category II Alternative Investment Funds (AIF)

4. Consultation paper on Easing of access norms for investment by FPIs

Banking Takeaways-

• Mr. Ajay Tyagi is the Chairman of SEBI.
• SEBI is Headquartered in Mumbai.
• SEBI was established in 1992.

7. Bank credit grows at 6.02%, deposits at 11.19%: RBI data

i. Banks’ credit growth was up 6.02% to Rs76,58,212 crore in the fortnight ended 9 June from Rs72,22,939 crore in the same period of fiscal 2016, according to the data released by the Reserve Bank of India (RBI).
ii. The growth advanced in the reporting period was slightly higher than the previous fortnight ended May 26, 2017.

8. Axis Bank, Kochi Metro launches India’s first single-wallet contactless, Open Loop Metro Card

i. Axis Bank, India's third largest private sector bank in association with Kochi Metro Rail Corporation (KMRL) has launched KMRL Axis Bank 'Kochi1' Card, India's first open loop EMV contactless metro card that would make travel a convenient and hassle free experience for commuters in Kochi.

ii. Axis Bank has partnered with National Payments Corporation of India (NPCI) in developing this transit EMV contactless specification on interoperable open standards. The prepaid card has integrated benefits and offers a plethora of services to commuters such as:

1. The shopping experience at merchant outlets: No hassle of carrying multiple cards.

2. Instant issuance of Personalized Cards.

3. Convenience of recharge: The commuter can easily top up the card through cash or debit or credit card.

Important Takeaways-

• Shikha Sharma is the MD and CEO Axis Bank.
• Shri Rajiv Gauba is the Chairman of KMRL.

9. Manappuram Finance appoints Jeevandas Narayan as managing director of Manappuram Home Finance

i. Manappuram Finance has announced the appointment of Jeevandas Narayan as the Managing Director and Subhash Samant as CEO of its fully-owned home loans subsidiary, Manappuram Home Finance.

ii. Prior to this Narayan, who has more than 37 years of experience in the financial services industry, was Managing Director of State Bank of Travancore.

Banking Takeaways-

• Manappuram Finance headquarters in Thrissur Kerala.
• It was founded in 1949.

10. Indian agri microbiologist Shrihari Chandraghatgi given environment award in Japan

i. Indian agricultural microbiologist Shrihari Chandraghatgi has been conferred the Ministry of Environment Award for 2017 in Japan for developing cutting edge technologies to address burning environmental problems.

ii. Chandraghatgi, who is President and CEO of EcoCycle Corporation, is the first foreigner to be given the Ministry of Environment Award, the highest award in the environmental sector in Japan.

Important Takeaways-

• The Capital of Japan is Tokyo.
• The Currency of Japan is Japanese yen.
• Shinzo Abe is the Prime Minister of Japan.

11. Vladimir Voronkov appointed as Under-Secretary-General of UN Counter-Terrorism Office

i. United Nations Secretary-General António Guterres has appointed Vladimir Ivanovich Voronkov of the Russian Federation as Under-Secretary-General of the newly created United Nations Counter-Terrorism Office. The office was established under the General Assembly resolution 71/291 on 15 June 2017.

ii. He is currently Ambassador and Permanent Representative of the Russian Federation to the International Organizations in Vienna.

Important Takeaways-

• 9th Secretary-General of United Nations is Antonio Guterres and its headquarter is in New York City, USA.

12. President of Vanuatu Baldwin Lonsdale dies aged 67

i. The president of Vanuatu, Womtelo Reverend Baldwin Lonsdale, has died suddenly at the age of 67.

ii. President Baldwin Lonsdale was elected in September 2014, the first from Torba Province. 

Static Takeaways-

• The Capital of Vanuatu is Port Vila.
• Its Currency is Vanuatu Vatu.