Daily GK Update 22nd July 2017

1. Arun Jaitley launches Pradhan Mantri Vaya Vandana Yojana pension scheme with 8% fixed rate

i. Finance Minister Arun Jaitley formally launched Pradhan Mantri Vaya Vandana Yojana (PMVVY), a pension scheme exclusively for senior citizens with 8% fixed rate of interest on their savings.

ii. Under this scheme, there will be an assured return of 8 per cent over a tenure of 10 years. It can be purchased offline as well as online through Life Insurance Corporation (LIC) of India which has been given the sole privilege to operate this scheme.

Important Takeaways from Above News-

• Present chairman of LIC is V K Sharma.

2. BoB signs MoU with DGS&D for services to govt’s e-marketplace

i. Bank of Baroda has entered into an agreement with Directorate General of Supplies & Disposal (DGS&D) for extending various banking services to Government e-Marketplace (GeM). 

ii. DGS&D has been mandated to set up GeM, an initiative intended to bring greater transparency and efficiency in public procurements.

Important Takeaways from Above News-

• MD and CEO of Bank of Baroda is P. S. Jayakumar.
• Headquarter of Bank of Baroda is in Vadodara.

3. Karamjyoti Dalal wins bronze medal at World Para Athletics

i. India’s Karamjyoti Dalal has won bronze medal at the World Para Athletics Championships 2017 in the discus-throw. In the women’s F55 category of discus-throw, she managed a throw of 19.02 m.

ii. Earlier, Sundar Singh Gurjar had opened India’s account at the 2017 World Para Athletics Championships by winning gold medal in the men’s javelin throw event. Later, Amit Saroha won silver medal in the club throw event in the F-51 category. 

Important Takeaways from Above News-

• The first IPC Athletics World Championships were held in Berlin, Germany in 1994.

4. Kerala to host literary festival with ‘Tolerance’ as theme

i. Kerala will be hosting the fifth edition of South India Writers Ensemble (SIWE) at Chengannur, a town in Kerala’s coastal Alappuzha district from 24 July 2017.

ii. The core theme of the festival this year is ‘tolerance’. So creative writers, journalists, theatre and film personalities from across the industry will be seen deliberating on the theme at a time when the country as a whole is witnessing raging debates over intolerance.

Important Takeaways from Above News-

• Chief Minister of Kerala is Pinarayi Vijayan.
• Governor of Kerala is Palaniswamy Sathasivam.

5. Sanjay Kothari appointed Secretary to new President

i. Sanjay Kothari, Chairman of Public Enterprises Selection Board, has been appointed as Secretary to President-elect Ram Nath Kovind.

ii. Senior journalist Ashok Malik has been named as Press Secretary to Kovind, by the Department of Personnel and Training (DoPT). Senior Gujarat-cadre forest service officer Bharat Lal will be Joint Secretary to Kovind.

Important Takeaways from Above News-

• Kovind will be sworn in as the 14th president of India on July 25.

6. MEA spokesperson Gopal Baglay appointed Joint Secretary in PMO

i. Senior diplomat and External Affairs Ministry spokesperson Gopal Baglay appointed as Joint Secretary in the Prime Minister’s Office.

ii. Baglay, a 1992 batch Indian Foreign Service Officer. The Appointments Committee of the Cabinet has approved Baglay's appointment to the post for three years.

Important Takeaways from Above News-

• Gopal Baglay has been appointed in place of Vinay Mohan Kwatra, who has been already named as India’s Ambassador to France.

7. Vijay Goel, Nitin Gadkari flag off 10th 'Slum Yuva Daud'

i. Sports Minister Vijay Goel and Road Transport and Highways Minister Nitin Gadkari today flagged off the 10th Slum Yuva Daud at Khichripur in New Delhi. 

ii. The Slum Yuva Daud is a part of the Adopt a Slum campaign of the Sports Ministry and Nehru Yuva Kendra Sangathan. Thousands of youth from Delhi slums participated in the run which started from Lal Bahadur Shastri Hospital, Khichripur and ended at Dr. Bhimrao Ambedkar Stadium, Trilokpuri. 

Important Takeaways from Above News-

• Chief Minister of Delhi is Arvind Kejriwal.

8. Partnership with PNB MetLife to provide insurance cover for borrowers

i. Karnataka Bank, in association with its PNB MetLife, has launched Met Loan and Life Suraksha (MLLS), a single premium plan covering the loan liability of a customer.

ii. The bank has also introduced KBL MLLS, an app for its employees to instantly calculate the insurance cover and premium based on loan liability of the borrowers.

Important Takeaways from Above News-

• MD and CEO of Karnataka Bank Mahabaleshwara M.S.
• Sameer Bansal is the Director of PNB MetLife.

9. SBI and Carlyle to jointly acquire GE Capital's stake in SBI Card

i. State Bank of India (SBI), the Carlyle Group and GE have announced that they have signed definitive agreements, whereby SBI and Carlyle Group will acquire GE Capital's entire stake in SBI Card, the second-largest credit card franchise in India.

ii. SBI Card is operated through two joint venture companies , SBI Cards & Payment Services and GE Capital Business Process Management Services, which issue credit cards and process card transactions in the Indian market. Following the transactions, SBI and Carlyle will own 74 percent and 26 percent respectively in each of the two entities.

Important Takeaways from Above News-

• Chairman of SBI is Arundhati Bhattacharya.
• Headquarter of SBI is in Mumbai.