Daily GK Update 21st June 2017

1. International Day of Yoga: 21 June

i. The International Day of Yoga is celebrated across the world on 21 June. It aims to raise awareness worldwide of the many benefits of practicing yoga.

ii. The theme for the 2017 celebration, organized by the Permanent Mission of India to the United Nations, is 'Yoga for Health.'

Important Takeaways-

• The first International Day of Yoga was observed all over the world on 21 June 2015 in New Delhi.

2. Ramamani Iyengar Memorial Yoga Institute becomes first recipient of PM’s yoga award

i. Ramamani Iyengar Memorial Yoga Institute, Pune has been selected as the first recipient of the Prime Minister’s Award for outstanding contribution to promotion and development of Yoga. The Institute has worked to spread Yoga, internationally, over a period of four decades.

ii. The institution of the award was announced by the Prime Minister on the occasion of the Second International Day of Yoga at Chandigarh in 2016.

Important Takeaways-

• The institute was established on January 19, 1975.
• The Institute is dedicated to Smt. Ramamani Iyengar, the wife of Yogacharya B.K.S. Iyengar. 

3. Punjab Announced Free Education For Girls From Nursery To PhD

i. The Punjab Government has announced free education for girls in government schools and colleges from Nursery to Ph.D. This is the major step towards women empowerment by Punjab CM Captain Amarinder Singh.

ii. Reservation for women in Panchayati Raj Institutions and Urban Local Bodies has already been increased by the government from 33 per cent to 50 per cent. The CM also announced free Wi-FI for 13,000 primary schools and all 48 government colleges.

Important Takeaways-

• Shri. VP Singh Badnore is the governor of Punjab. 
• Takhni-Rehmapur Wildlife Sanctuary is situated in Punjab.

4. Meghalaya Govt signs two MoUs with SBI for digital transaction

i. Meghalaya government has signed two MoUs with the State Bank of India as a part of an initiative towards migrating government transactions to digital mode. With the implementation of the Goods and Services Tax(GST), these MoUs are expected to give dealers and other citizens the desired platform for conducting financial transactions with the state government on a digital platform.

ii. The state government will now escalate its transactions for the collection of tax and non-tax revenue through the online system - Government Receipt Accounting System (GRAS) covering all departments in a phased manner. This facility will be available through the gateway provided by SBI ePay under the MoU.

Static Takeaways-

• Mukul Sangma is the present CM of Meghalaya.
• Banwarilal Purohit is the Governor of Meghalaya.

5. Hike Messenger partners with YES Bank to launch in-app Wallet

i. Hike Messenger launched the new version of the app with a completely new interface and the addition of a mobile wallet, in partnership with YES Bank.
ii. With Unified Payments Interface support enabled in Hike 5.0, users can now do free and instant bank-to-bank transfers with their friends.

The feature works even if your friends aren't on Hike. For those who don’t actively use a bank account, Hike still allows them to send and receive money with your friends through the Wallet.

Banking Takeaways-

• Kavin Bharti Mittal is the founder and CEO of Hike Messenger.
• Mr. Rana Kapoor is the Managing Director & CEO of YES Bank.
• The Bank was founded in 2004.
• Yes Bank is Headquartered in Mumbai.

6. Ayurveda specialist Rajesh Kotecha appointed special secretary in Ayush ministry

i. Ayurveda physician ‘Vaidya’ Rajesh Kotecha has been appointed as special secretary in Ayush Ministry. The Appointments Committee of the Cabinet has approved Kotecha’s appointment for three years on a contract basis, according to an order issued by Department of Personnel and Training (DoPT).

ii. Vaidya (meaning physician) Kotecha is the chief consultant of Chakrapani Ayurveda Clinic, Jaipur. 

Important Takeaways-

• Shripad Yasso Naik is the Minister of AYUSH.

7. Saudi Arabia's Mohammed bin Salman appointed Crown Prince

i. Saudi Arabia's King Salman has appointed his son, Mohammed bin Salman, as heir, in a major reshuffle. A royal decree removed Crown Prince Mohammed bin Nayef, a 57-year-old nephew of the king, as next-in-line to the throne and replaced him with Mohammed bin Salman, 31, who was previously the deputy crown prince.

ii. The newly-announced crown prince was also named deputy prime minister and maintained his post as defense minister.

Important Takeaways-

• Riyadh is the capital of Saudi Arabia.
• Saudi riyal is the currency of Saudi Arabia.

8. In historic first, UNICEF appoints Syrian refugee Muzoon Almellehan as Goodwill Ambassador

i. The United Nations Children's Fund (UNICEF) announced, on the World Refugee Day (20 June), the appointment of Muzoon Almellehan, a 19-year-old education activist, and Syrian refugee, as its newest – and youngest – Goodwill Ambassador.

ii. The appointment makes Muzoon the first person with official refugee status to become an Ambassador for UNICEF. Muzoon, who received support from UNICEF while living in Za’atari refugee camp in Jordan, follows in the footsteps of the late Audrey Hepburn, a Goodwill Ambassador who was also supported by UNICEF as a child.

Important Takeaways from Above News-

• UNICEF Headquarters in New York City, USA.
• It was founded in 1946.
• Anthony Lake became the sixth Executive Director of the UNICEF.

9. India re-nominates Justice Dalveer Bhandari for another term as ICJ judge

i. Justice Dalveer Bhandari has been nominated by India as its candidate for another nine-year term as judge of the International Court of Justice (ICJ), the principal judicial organ of the UN.

ii. Bhandari, 69, was elected in April 2012 during simultaneous balloting in both the General Assembly and the Security Council to a seat on the International Court of Justice, which is also known as the World Court. The ICJ elections will be held in November and if elected, he will serve a term of nine years.

Important Takeaways-

• The ICJ was established in 1945.
• The ICJ headquarters in the Hague, Netherlands.

10. Uber Co-Founder Travis Kalanick Resigns as C.E.O.

i. Uber co-founder Travis Kalanick has resigned from his position as chief executive of the $68bn ride-hailing app following a tumultuous six months of scandal.

ii. Kalanick reportedly took the hard decision after a group of major Uber investors demanded his immediate resignation.

11. India and Portugal sign a historical agreement to promote Cooperation in the Field of Archives

i. A Protocol of Cooperation was signed between the National Archives of India and the Minister of Culture of the Portuguese Republic in the field of archives in Lisbon, Portugal.

ii. As a first step under this agreement, the Torre do Tombo (National Archives of Portugal) handed over to the National Archives of India digital copies of 62 volumes of the collection known as ‘Moncoes do Reino’ (Monsoon correspondence). 

Important Takeaways-

• Mr. Raghvendra Singh is the Secretary to the Government of India and Director General of the National Archives of India.
• Nandini Singla is the Ambassador of India to Portugal.

12. IDBI Federal Life partners with SunTec for GST rollout

i. IDBI Federal Life Insurance today said it has partnered with SunTec, which will help facilitate in computing and invoicing of debit tax and credit tax that will be GST compliant. 

ii. Under the agreement, for the debit tax mandate, SunTec will help in analysing data from various sources for computation and invoicing purposes.

13. Annabel Mehta awarded with the Member of the Order of the British Empire (MBE)

i. Sachin Tendulkar's mother-in-law and social activist Annabel Mehta, a British national, has been awarded the MBE (Member of the Order of the British Empire) for her work and service to the underprivileged.

ii. The award will be presented to her at Buckingham Palace in London later this year.  Annabel has been recognized and honored for over 40 years of service to underprivileged communities in India. Much of this has been through her leading role within the NGO, Apnalaya, of which she has been President since 2013.

Important Takeaways-

• The Order of the British Empire was created in 1917 by King George V.

14. Anil Kumble resigns as Head Coach of Indian Cricket team

i. Anil Kumble, the former Indian Captain, resigned from the post of Head Coach of the Indian Cricket team. His resignation came before the limited-overs tour of the West Indies team.

ii. During this trip to the Caribbean, the team management will be supervised by M V Sridhar, the general manager of cricket operations. The batting coach Sanjay Bangar and fielding coach R Sridhar will continue in their roles.

Banking Awareness,

Q1. The concept of insuring deposits kept with banks received attention for the first time in the year ___________ after the banking crises in Bengal. 
(a) 1941
(b) 1933
(c) 1961
(d) 1948
(e) 1919

S1. Ans.(d)
Sol. The concept of insuring deposits kept with banks received attention for the first time in the year 1948 after the banking crises in Bengal. The question came up for reconsideration in the year 1949, but it was decided to hold it in abeyance till the Reserve Bank of India ensured adequate arrangements for inspection of banks. Subsequently, in the year 1950, the Rural Banking Enquiry Committee also supported the concept.

Q2. The Deposit Insurance Corporation (DIC) Bill was introduced in the Parliament on August 21, 1961. After it was passed by the Parliament, the Bill got the assent of the President on December 7, 1961 and the Deposit Insurance Act, 1961 came into force on January 01st-
(a) 1962
(b) 1975
(c) 1956
(d) 1949
(e) 1935

S2. Ans.(a)
Sol. The Deposit Insurance Corporation (DIC) Bill was introduced in the Parliament on August 21, 1961. After it was passed by the Parliament, the Bill got the assent of the President on December 7, 1961 and the Deposit Insurance Act, 1961 came into force on January 1, 1962. The Deposit Insurance Scheme was initially extended to functioning commercial banks only. This included the State Bank of India and its subsidiaries, other commercial banks and the branches of the foreign banks operating in India.

Q3. The Reserve Bank of India was promoted a public limited company on January 14th 1971, named the CGCI. What was the meaning of first "C" in CGCI?
(a) Common
(b) Conclusion
(c) Corporation
(d) Concept
(e) Credit

S3. Ans.(e)
Sol. The Reserve Bank of India also promoted a public limited company on January 14, 1971, named the Credit Guarantee Corporation of India Ltd. (CGCI). The main thrust of the Credit Guarantee Schemes, introduced by the Credit Guarantee Corporation of India Ltd., was aimed at encouraging the commercial banks to cater to the credit needs of the hitherto neglected sectors, particularly the weaker sections of the society engaged in non-industrial activities, by providing guarantee cover to the loans and advances granted by the credit institutions to small and needy borrowers covered under the priority sector.

Q4. The DIC Bill was introduced in the Parliament on August 21st 1961. What is the meaning of "D" in DIC?
(a) Distance
(b) Development
(c) Deposit
(d) Demand
(e) None of the above

S4. Ans.(c)
Sol. The Deposit Insurance Corporation (DIC) Bill was introduced in the Parliament on August 21, 1961. After it was passed by the Parliament, the Bill got the assent of the President on December 7, 1961 and the Deposit Insurance Act, 1961 came into force on January 1, 1962.

Q5. DICGC stands for- 
(a) Deposit Investment and Credit Guarantee Corporation
(b) Deposit Insurance and Credit Guarantee Corporation
(c) Deposit Insurance and Credit Guarantee Company
(d) Demand Insurance and Credit Guarantee Corporation
(e) Deposit Installment and Credit Guarantee Corporation

S5. Ans.(b)
Sol. DICGC stands for Deposit Insurance and Credit Guarantee Corporation.

Q6. NPA is a loan or an advance where interest and/or installment of principal remain overdue for a period of more than ______ days in respect of a term loan.
(a) 100 days
(b) 30 days
(c) 90 days
(d) 60 days
(e) 120 days

S6. Ans.(c)
Sol. A non ­performing asset (NPA) is a loan or an advance where interest and/or installment of principal remain overdue for a period of more than 90 days in respect of a term loan.

Q7. NPA is a loan or an advance where?
(a) the instalment of principal or interest there on remains overdue for one crop season for long duration crops.
(b) the account remains ‘out of order’ in respect of an Overdraft/Cash Credit (OD/CC).
(c) the installment of principal or interest there on remains overdue for two crop seasons for short duration crops.
(d) All of the above
(e) None of the above

S7. Ans.(d)
Sol. A non ­performing asset (NPA) is a loan or an advance where;
1. interest and/or installment of principal remain overdue for a period of more than 90 days in respect of a term loan.
2. the account remains ‘out of order’ in respect of an Overdraft/Cash Credit (OD/CC).
3. the bill remains overdue for a period of more than 90 days in the case of bills purchased and discounted.
4. the instalment of principal or interest there on remains overdue for two crop seasons for short duration crops.
5. the instalment of principal or interest there on remains overdue for one crop season for long duration crops.
6. the amount of liquidity facility remains outstanding for more than 90 days, in respect of a securitisation transaction undertaken in terms of guidelines on securitisation dated February 1, 2006.
7. in respect of derivative transactions, the overdue receivables representing positive mark-to-market value of a derivative contract, if these remain unpaid for a period of 90 days from the specified due date for payment.

Q8. The purpose of MUDRA is to provide funding to the non-corporate small business sector through various Last Mile Financial Institutions like-
(a) Banks
(b) NBFCs
(c) MFIs
(d) All of the above
(e) None of the above

S8. Ans.(d)
Sol. MUDRA, which stands for Micro Units Development & Refinance Agency Ltd, is a financial institution being set up by Government of India for development and refinancing micro units’ enterprises. It was announced by the Hon’ble Finance Minister while presenting the Union Budget for FY 2016. The purpose of MUDRA is to provide funding to the non-corporate small business sector through various Last Mile Financial Institutions like Banks, NBFCs and MFIs.

Q9. MUDRA Bank, a Non Banking Finance Company as MUDRA Ltd has been set up as a subsidiary of............?
(a) SIDBI
(b) IDBI
(c) RBI
(d) NABARD
(e) SBI

S9. Ans.(a)
Sol. MUDRA Bank, a Non Banking Finance Company as MUDRA Ltd has been set up as a subsidiary of SIDBI.

Q10. In which among the following year Asia's first Export Processing Zone (EPZ) was set up?
(a) 1959
(b) 1971
(c) 1965
(d) 1956
(e) 1975

S10. Ans.(c)
Sol. India was one of the first in Asia to recognize the effectiveness of the Export Processing Zone (EPZ) model in promoting exports, with Asia's first EPZ set up in Kandla, Gujarat in 1965. With a view to overcome the shortcomings experienced on account of the multiplicity of controls and clearances; absence of world-class infrastructure, and an unstable fiscal regime and with a view to attract larger foreign investments in India, the Special Economic Zones (SEZs) Policy was announced in April 2000.

Q11. IBA stands for-
(a) Indian Banks' Allocation
(b) Indian Banks' Association
(c) Institute Banks' Association
(d) Indian Banks' Assembly
(e) Indian Billing Association

S11. Ans.(b)
Sol. Indian Banks' Association (IBA) set up in 1946 with 22 members to discuss issues of common interests. Over the years, IBA emerged as the Voice of Indian Banking Industry.

Q12. What is the present Repo Rate?
(a) 7.00%
(b) 6.25%
(c) 6.50%
(d) 6.75%
(e) None of the above

S12. Ans.(b)
Sol. present Repo Rate is 6.25%.

Q13. Which among the following rates is not the policy rate of RBI?
(a) Repo Rate
(b) Reverse Repo Rate
(c) Bank Rate
(d) Marginal Standing Facility Rate
(e) Cash Reserve Ratio

S13. Ans.(e)
Sol. Cash Reserve Ratio is Reserve ratio of RBI.

Q14. The Banking Ombudsman is a senior official appointed by..............?
(a) Indian Government
(b) President of India
(c) Chief Justice of India
(d) Reserve Bank of India
(e) Finance Ministry

S14. Ans.(d)
Sol. The Banking Ombudsman is a senior official appointed by the Reserve Bank of India to redress customer complaints against deficiency in certain banking services.

Q15. As on date, there are _________ Banking Ombudsman centre located in India.
(a) 20
(b) 19
(c) 18
(d) 17
(e) 16

S15. Ans.(a)
Sol. As on date, there are 20 Banking Ombudsman centre located in India. These ares-
1. Ahmedabad, Gujarat
2. Bengaluru, Karnataka
3. Bhopal, Madhya Pradesh
4. Bhubaneswar, Odisha
5. Chandigarh
6. Chennai, Tamil Nadu
7. Guwahati, Assam
8. Hyderabad, Andhra Pradesh
9.  Jaipur, Rajasthan
10. Kanpur, Uttar Pradesh
11. Kolkata, West Bengal
12. Mumbai, Maharashtra
13. New Delhi (I)
14. New Delhi (II)
15. Patna, Bihar
16. Thiruvananthapuram, Kerala
17. Dehradun, Uttarakhand
18. Ranchi, Jharkhand
19. Jammu, Jammu and Kashmir
20. Raipur, Chhattisgarh

QUIZ-21

Q1. ISRO has signed a memorandum of understanding with which company to help develop low-cost lithium ion batteries for electric vehicles?
Answer: BHEL

Q2. Name the public lender that surpassed oil exploration major ONGC to become most valued public sector undertaking (PSU) stock in terms of market capitalization (m-cap) in intra-day trade.
Answer: SBI

Q3. World hemophilia day is observed globally on ___________.
Answer: 17 April

Q4. In 2017, the theme of International Day for Monuments and Sites is _____________.
Answer: Cultural Heritage & Sustainable Tourism

Q5. Which Internet giants has launched an app aggregating food delivery and home services in India named Areo?
Answer: Google

Q6. Name the Indian/Indians who made it to the annual list of ‘100 most influential people in the world’ 2017 in the recently released list by the Time magazine.
Answer: Narendra Modi and Vijay Shekhar Sharma

Q7. The United Nations Organization for Education, Science and Culture (UNESCO) has recently awarded its Peace Prize 2017 to ________.
Answer: Giuseppina Nicolini

Q8. United Nations International Day of Vesak 2017 hosted by which country?
Answer: Sri Lanka

Q9. Mongolia launched its first satellite named ____________ as a part of its efforts to make use of new technology to diversify its resource-dependent economy.
Answer: Mongol Sat-I

Q10. Olympic Council of Asia (OCA) has announced introduction of Video gaming as full sports in Asian Games. It will be implemented fully in __________ Asian Games.
Answer: 2022

Q11. Name the company that has recently regained its status as India’s most valued firm by market capitalization.
Answer: Reliance Industries Ltd.

Q12. The 3rd edition of International Conference and Exhibition on Steel Industry 'India Steel 2017' was held recently in ____________.
Answer: Mumbai

Q13. Name the company that has recently signed an agreement with Ajmer Vidyut Vitran Nigam Ltd (AVVNL) for electricity distribution in Ajmer for 20 years.
Answer: Tata Power

Q14. United Nations International Day of Vesak 2017 hosted in one of the Asian countries from 12-14 May 2017. It was _________ edition of Vesak Day.
Answer: 14th

Q15. World Earth Day is observed globally on ____________.
Answer: 22 April