AUGUST 11 TO 20 2016 -- DAILY GK BANKERS ADDA

11th August, 2016

1. Azim Premji, Shiv Nadar in Forbes list of 100 richest tech tycoons

i. Wipro Chairman Azim Premji and HCL co-founder Shiv Nadar are the only two billionaires from India in Forbes' list of the world's 100 richest people in technology. They are ranking in the top 20 ahead of Google boss Eric Schmidt and Uber CEO Travis Kalanick. 

ii. While the '100 Richest Tech Billionaires In The World 2016' list has been topped by Microsoft founder Bill Gates with an estimated fortune of USD 78 billion. 

iii. Premji ranks 13th on the list with a net worth of $16 billion and Nadar comes in on the 17th spot with $11.6 billion of net worth. However, only five women rank among the world’s 100 richest in tech, including Zhou Qunfei on the 33rd spot.

2. Cabinet approvals

i. The Union Cabinet, chaired by Prime Minister Narendra Modi has given its ex-post facto approval for amendments to Section 44 and consequential amendments of the Lokpal and Lokayuktas Act, 2013 by introducing the Lokpal and Lokayukta (Amendment) Bill, 2016 in the Parliament.

ii. The 2nd approval by the Union Cabinet is for the ex-post facto approval for a Memorandum of Understanding (MoU) between India and South Africa for cooperation in the field of Tourism.

iii. The 3rd approval has given for signing and ratification of an Agreement between India and Croatia on Economic Cooperation.

iv. The 4th approval is for amendments which have been made into the Maternity Benefits Act to raise maternity leave for women from 12 weeks to 26 weeks. 

v. The Cabinet Committee on Economic Affairs (CEEA) has given its approval for the development of Advanced Ultra Super Critical (AUSC) technology for thermal power plants.

3. Jaitley launches data bank portal of MSMEs

i. Finance Minister Arun Jaitley has launched a data bank Portal of micro, small and medium enterprises, MSME in New Delhi. 

ii. The portal aims to gather information about micro, small and medium enterprises. 

iii. An Online Finance Facilitation Web Portal was also launched to provide collective funding options for MSMEs. Secretary in the MSME Ministry K K Jalan said, six Online Finance Facilitation Centres in Jalandhar, Ludhiana, Guwahati, Lucknow, Peenya near Bengaluru and Delhi have been opened today and six more will be unveiled in the near future.

4. CBDT constitutes committee to review media policy

i. Central Board of Direct Taxes (CBDT) has constituted a new committee to "review" the existing media policy for communicating the activities of the board and the income tax department to the public. 

ii. The 9 member committee will be headed by Mr. Gopal Mukherjee.

5. IRCTC signs MoU with DRDO to get ready-to-eat food straight out of packet

i. The Indian Railway Catering and Tourism Corporation (IRCTC) has signed a MoU with Defence Food Research Laboratory of Defence Research and Development Organisation (DRDO) for Transfer of Technology of Retort Pouch Processed Foods so that ready-to-eat food can be warmed and eaten straight out of the packet. 

ii. DRDO also grants a non-exclusive license to utilize the Technology by IRCTC for manufacture in India for a period of 10 years. 

6. Madhya Pradesh, Puducherry join UDAY scheme

i. Madhya Pradesh and the Union Territory (UT) of Puducherry have signed the memorandum of understanding (MoU) with the Ministry of Power to join the Ujwal Discom Assurance scheme that will save the state Rs 17,515 crore  and for the UT it is expected to be around Rs.72 crore. 

ii. With these two MoUs being signed, the total number of states and union territories who are a part of UDAY has risen to 16.

7. Bill Maris, the CEO and founder of Google Ventures quits

i. Bill Maris, the chief executive, and founder of Alphabet Inc's , venture capital arm of GV, is leaving the company. 

ii. Maris, who will leave on Friday, will be replaced by GV managing partner David Krane. 

iii. GV, previously known as Google Ventures, was founded in 2009 and has invested in more than 300 companies from life science, healthcare, artificial intelligence, robotics, transportation, cyber security, and agriculture, and more. 

8. IKEA lays the foundation for its first store in India at Hyderabad

i. Ikea, a global leader in retail furniture, has laid the foundation for its first store in India in Hyderabad. 

ii. The store is expected to open somewhere in July–August next year and is likely to see an investment of about Rs. 700 crore. 

iii. This will be IKEA's first store in the country and will form part of a chain of stores planned across the country in a decade from now. The company has also acquired a large site for a store in Mumbai and is in the process of identifying sites in select cities across the country.

9. Intel buys AI startup Nervana Systems run by Indian-origin entrepreneur

i. Tech giant Intel has acquired California-based deep learning startup Nervana Systems, run by an Indian-origin entrepreneur, allowing the chip maker to foray into the world of Artificial Intelligence (AI). 

ii. Nervana Systems is led by former Qualcomm researcher Naveen Rao, founded in 2014 and headquartered in San Diego, California.

iii. Nervana will help develop Intel's artificial intelligence portfolio and enhance the deep learning performance of Intel Xeon and Intel Xeon Phi processors. 

10. BHEL appoints Akhil Joshi as director

i. Power plant equipment manufacturer, Bharat Heavy Electricals limited (BHEL) has appointed Akhil Joshi as the Director (Power). 

ii. Prior to this Joshi, 57, was the Executive director (ED) human resource at BHEL.

iii. Bharat Heavy Electricals Limited (BHEL) owned by the Government of India, is a power plant equipment manufacturer and operates as an engineering and manufacturing company based in New Delhi, India. 

11. Saina Nehwal is the brand ambassador for ITC's Savlon

i. ITC’s leading health & hygiene brand, Savlon, has announced the name of ace shuttler- Saina Nehwal as its brand ambassador. 

ii. In its new campaign, Savlon seeks to inspire parents to let go of their fears  and encourage children to push their limits and maximize their potential to succeed in life. 

12. Microsoft appoints Sriram Rajamani as MD of its India lab

i. Microsoft has announced the appointment of Sriram Rajamani as new managing director of its India lab.

ii. He will replace Chandu Thekkath, who was the managing director of the lab for two years.

iii. Prior to joining the India lab, Rajamani headed the Software Productivity Tools group within Microsoft’s Redmond research lab.

13. India's sole weightlifter out of Rio Olympics

i. India's only weightlifter at the Rio Olympics, Sathish Sivalingam was ousted from the men's 77 kg weightlifting event at the Games. 

ii. The lifter finished fourth in his group after lifting 329 kg, as against his group's best lift of 346 kg. 

iii. Sivalingam had earlier won the gold medal in the same category at the 2014 Glasgow Commonwealth Games.

12th August, 2016

1. India's first touch-and-feel garden for visually impaired 

i. A first-of-its-kind touch and feel garden for the visually impaired people in the country was inaugurated near Calicut University campus by Kerala Assembly Speaker P Sreeramakrishnan. 

ii. The garden has nearly 70 aromatic, medicinal and herbal plants brought from various parts the country. 

iii. The visually impaired will get an opportunity to study the plants not only by touching, feeling and smelling them but also getting information about them through audio inputs.

2. RBI transfers Rs 65,876 crore surplus to government

i. The Reserve Bank will transfer to the central government its surplus profit of Rs 65,876 crore which is marginally lower than the amount given last year. 

ii. The approval to transfer the surplus was taken at the 559th meeting of the Central Board of the RBI, chaired by Governor Raghuram Rajan. 

iii. The surplus is generated through RBI's investment activities, primarily in other sovereign bonds like that of the US T-bills, which is its single largest investment source. 

3. President approves six new IITs across the country and one NIT in AP

i. President Pranab Mukherjee has given his nod to set up six new Indian Institutes of Technology (IITs) in places like Jammu, Tirupati, Palakkad (Kerala), Goa, Dharward (Karnataka) and Bhilai (Chhattisgarh) and also passed a law regarding the same. 

ii. The law has also brought the Indian School of Mines (ISM), Dhanbad under its ambit. The ISM will now be called Indian Institute of Technology (Indian School of Mines), Dhanbad, the legislation said. All these institutions will be institutions of national importance, as per the Act.

iii. The President has also given his assent to a law for the establishment of a National Institute of Technology (NIT) in Andhra Pradesh. 

4. Badal inaugurates first 'Sewa Kendra' in Punjab

i. Punjab Chief Minister Parkash Singh Badal has inaugurated city’s first Sewa Kendra at Ladhewali today where people will be able to avail services under one roof. 

ii. While Deputy Chief Minister Sukhbir Singh Badal has inaugurated Sewa Kendras at Mansa, Pathankot, Bholath and Amargarh. 

iii. A total of 2,147 Sewa Kendras has been constructed at a cost of Rs 500 crore. The Kendra's were being started to minimise public interaction with various offices and weeding out corruption besides enhancing the efficiency of the administration and delivery of services to common people.

5. Assam becomes the first state to ratify GST

i. Assam has become the first state to ratify the Goods and Services Tax Constitutional Amendment Bill. 

ii. The Parliament had earlier cleared the bill to usher in a uniform tax regime throughout the country, and it now awaits the ratification of at least 15 states to make it a law. 

iii. The Centre seeks to roll-out the GST by April 1, 2017.

6. 12-day long Krishna Pushkar festival begins on grand note in Telangana & AP

i. A 12-day long Krishna Pushkar festival began in Telangana and Andhra Pradesh on a grand note today. The festival comes once in every 12 years.
ii. Telangana government has made elaborate arrangements as over three crore people expected to turn up for a holy dip at various places in Mahabubnagar and Nalgonda districts on the banks of the sacred river. 

iii. The festival is inaugurated by the Telangana Chief Minister Chandrasekhara Rao today morning by taking a holy dip in the river in accordance with all customs and rituals at Gondimalla Pushkar Ghat. While Andhra Pradesh Chief Minister N. Chandrababu Naidu accompanied by his wife Bhuvaneswari also took the holy dip in River Krishna near Durga Ghat early this morning.

7. NABARD sanctions Rs 26.06 crore to Punjab

i. National Bank for Agriculture and Rural Development (NABARD) has sanctioned Rs 26.06 crore to the Punjab government. 

ii. The fund has been sanctioned for tackling waterlogging by constructing lift schemes in low-lying areas, village ponds, and other allied works.

iii. The project will reclaim 5,913 hectares of land in 87 villages of Muktsar and Fazilka districts. 

8. Hindustan Copper Limited inaugurates country's first facility to produce nickel 

i. Hindustan Copper Limited (HCL) has inaugurated the country's first facility to produce nickel, a metal for which the country is completely dependent on imports. 

ii. The new facility - Nickel, Copper, and Acid Recovery Plant is located at the company's Indian Copper Complex (ICC) at Ghatshila in Jharkhand. 

iii. The capacity of the plant is initially poised to be 50 tonnes per annum and Annual demand for pure nickel in India is around 45,000 tonne and its domestic market is solely reliant on imports. 

9. Flipkart now on Kotak Mahindra Bank's mobile banking app

i. The private sector lender Kotak Mahindra Bank (KMB) has announced the availability of Flipkart’s mobile site in its mobile banking app to gives the customer a secure in-app shopping environment. 

ii. KMB has been expanding the scope of offerings on its mobile banking app, and this move further strengthens its mStore which already allows booking of air tickets, hotels, and bus tickets. 

iii. With the new feature, customers can now shop smoothly and even check out faster as billing and delivery details which are already available with the bank will not be needed to be entered again. 

10. Birender Singh Yadav appointed as next HC to Ghana

i. IFS officer of 1997 batch Birender Singh Yadav currently working as Joint Secretary in the Ministry, has been appointed as the next High Commissioner of India to the West Africa’s Republic of Ghana. 

ii. Yadav will succeed K. Jeeva Sagar in Ghana. 

11. Apple rehires Flipboard Co-Founder for Health Software Role

i. Apple Inc has rehired Flipboard Co-founder Evan Doll to work on health-related software after he quit Apple to found the digital news magazine app Flipboard. 

ii. Doll had worked as a software engineer at Apple from about 2003 to 2009 and had helped develop the first iPhone operating system. 

iii. Doll left Flipboard in October 2015 along with other executives of the startup.

12. Phelps 3rd to win Gold in the same event at 4 Olympics

i. Michael Phelps won the gold medal in the 200m individual medley to become only the third athlete to win an individual Gold in the same event at four Olympics. 

ii. This was Phelps 22nd Olympic Gold and 4th consecutive in 200m individual medley starting 2004. 

iii. Long jumper- Carl Lewis and discus thrower- Al Oerter are the others to have achieved the feat.

13th August, 2016

1. Railway Budget set to be merged with Union Budget from next fiscal

i. Ending a 92-year-old tradition which started during the colonial era, Railway Budget will be merged with the General Budget from 2017-18 onwards.  

ii. The move is considered to be a relief to the national transporter, which was suffering from an additional burden of about Rs 40,000 crore on account the Seventh Pay Commission and close to Rs 35,000 crore on subsidy burden. If the merger happens, the Railways will get rid of the annual dividend that it has to pay for gross budgetary support from the government.

iii. According to a report, the finance ministry has given a go-ahead signal to the proposal by the Railways ministry and has set up a five-member committee in this regard. 

2. Govt sets up National Committee on Trade Facilitation

i. The Centre has constituted the National Committee on Trade Facilitation following India’s ratification of the WTO Trade Facilitation Agreement (TFA) in April. 

ii. The NCTF will facilitate domestic co-ordination and TFA provisions' implementation, and help develop the pan-India trade facilitation road map. 

iii. The committee is a mandatory, institutional arrangement under TFA.

3. Nasscom launches operations of its startup warehouse in Visakhapatnam

i. The apex IT industry body in the country, National Association of Software and Services (Nasscom) has launched operations of its startup warehouse at Sunrise Startup Village at Rushikonda in Visakhapatnam, AP. 

ii. This is the first Nasscom Startup Warehouse in AP and ninth under its 10,000 startup initiative by 2020, which was kick-started from Bengaluru in 2013. 

iii. The warehouse would provide affordable co-working space with incubation for six months. In this regards, Nasscom has selected five teams to join the incubation programme at their Visakhapatnam facility.

4. Nadda inaugurates AMRIT outlet at Safdarjung hospital

i. Union Health Minister J.P. Nadda has inaugurated an AMRIT pharmacy at the city-based Safdarjung hospital in News Delhi.

ii. The new AMRIT (Affordable Medicines and Reliable Implants for Treatment) Pharmacy, the 10th such in the country, will sell drugs at highly discounted rates.

iii. The project has been floated in a tie-up with government-owned HLL Lifecare Ltd, which is mandated to establish and run the AMRIT chain of pharmacies across the country.

5. Rajasthan signs MoU with India Trade and Exhibition Centre

i. Rajasthan government led by Vasundhara Raje has signed a Memorandum of Understanding (MoU) with India Trade And Exhibition Centre (ITEC), Dubai for the promotion of skill development, investment and tourism sectors.

ii.  As per the agreement, ITEC would work as a service providing agency for promotion of skill development, investment and tourism sectors in Rajasthan.

6. Sri Lanka and China sign a tripartite agreement to construct Financial City Center in Colombo

i. Sri Lanka and China have signed a tripartite agreement to proceed with the construction of a Financial City Center in capital Colombo. 

ii. However, Sri Lanka's Urban Development Authority, the Ministry of Megapolis and Western Development and the China Harbor Engineering Company Ltd signed the agreement for the development of Colombo International Financial City (CIFC) formerly known as the Colombo Port City.

iii. The USD 1.4 billion Port City project which initially began construction in September 2014 under the former government was suspended in March 2015 by President Maithripala Sirisena's government due to environmental concerns. However, in March 2016, the project was given a nod from the government stating that the project would convert Sri Lanka into an international hub in the region. 

7. Manipal Technologies acquires CrossFraud detection solution from Bengaluru company

i. Manipal Technologies Ltd (MTL), which is a secure print solutions organization has announced that it has acquired CrossFraud - an advanced fraud detection and anti-money laundering solution from Bengaluru-based Saraansh Software Solutions Pvt. Ltd for an undisclosed amount. 

ii. The acquisition comes with four international patents in risk and fraud detection area which is already implemented in two banks in Thailand and six banks in India.

8. Syndicate Bank launches Project Ananya aimed at digital banking

i. India's major commercial banks of India, Syndicate Bank has launched a program called "Project Ananya" that focuses on improved customer service and offering the latest in digital banking services. 

ii. Project Ananya over the next 2 years will upgrade the products, services and digital channels of the Bank to cater to the fast changing customer needs including those of the younger generation, who are more tech-savvy and prefer to do banking online. The project is also focused on improving business through enhanced sales and service focus as well as improving the HR policies and practices of the Bank.

iii. The bank plans to transform 10 % of its branches to the new format in the next 6-12 months. The first Ananya branch was opened by MD and CEO Arun Srivastava.

9. SBI, Korea Development Bank join hands for biz opportunities

i. The Country's largest public sector lender State bank of India and Korea Development Bank have signed a memorandum of understanding to enhance business synergies. 

ii. The agreement was signed between SBI chairman Arundhati Bhattacharya, and chairman and CEO of Korea Development Bank (KDB), Lee Dong-Geol.

iii. Through this MoU, both SBI and KDB will gain direct access to both markets of operation, and will be able to use the vast combined network to expand their businesses abroad. In this regards, both the banks will also set up a korea desk in India to enable a smooth cooperation and draw the full benefit from the MoU. 

10. Former Chief Secretary Sudhanshu Mishra passes away

i. Former Odisha chief secretary Sudhanshu Bhushan Mishra has passed away in Bhubaneswar. He was suffering from cancer. Mishra was 76 years old and a 1965 batch IAS officer. 

ii. Mishra was the Chief Secretary of Odisha during the tenure of former Chief Minister JB Patnaik from 1995-1999. 

iii. The former IAS officer was also a member of the Indian Red Cross Society-Odisha State Branch Working Committee. He was also actively involved in various social organisations and was an independent director of the Nalco.

11. Cipla names Umang Vohra as MD & Global CEO

i. Indian's multinational pharmaceutical company Cipla Limited has appointed Umang Vohra as the managing director (MD) & global chief executive officer (CEO) of the company effective September 1, 2016. 

ii. The current incumbent, Subhanu Saxena will step down from his position on August 31, 2016, to attend to emergent family priorities.

iii. The company also announced that Samina Vaziralli, Executive Director (ED) and the global head - strategy, M&A and Cipla New Ventures, will be the executive vice-chairman of Cipla effective September 1, 2016. 

12. Manjula Chellur is the new chief justice of Bombay high court

i. The Ministry of Law and Justice has notified the appointment of Justice Manjula Chellur as the next Chief Justice of the Bombay High Court. 

ii. Justice Chellur, who is currently the Chief Justice of Calcutta High Court, will take charge of Bombay High Court on or before August 24, 2016.  

iii. She replaces CJ Dhirendra Hiralal Waghela.

13. Saraswat Cooperative Bank appoints it new Chairman – Gautam Eknath Thakur

i. Gautam Eknath Thakur has been elected Chairman of the leading co- operative banker, Saraswat Bank.

ii. Saraswat Bank is an urban co-operative banking institution based inMumbai, Maharashtra and operating as a co-operative bank since 1918.

14. Lionel Messi announces to continue to play for Argentina

i. Lionel Messi has announced that he will play on for Argentina, reversing his decision in June to retire from international soccer. 

ii. The Barcelona forward Messi had announced not to play for Argentina again after the team lost to Chile in the final of the Copa America in the United States. 

iii. A few hours later the announcement, Messi was named in new coach Edgardo Bauza's squad to face Uruguay and Venezuela in 2018 World Cup, South American qualifiers to be held in the first week of September. 

15. Ethiopian sets world record in 10,000 metre run

i. Ethiopian runner Almaz Ayana ran 10,000 metres in 29:17.45 minutes, to set a new world record and win the gold medal at the Rio Olympics. 

ii. Ayana smashed the 23-year-old record of 29:31.78 minutes set by China’s Wang Junxia in 1993. 

iii. She becomes the first woman to break a 10,000-metre world record at an Olympic Games.

14th August, 2016

No Rail Budget from next fiscal
i. The 92-year-old practice of presenting a separate Rail Budget is set to come to an end from the next fiscal, with the Finance Ministry accepting Railway Minister Suresh Prabhu’s proposal to merge it with the General Budget.

ii. Finance Ministry has now constituted a five-member committee comprising senior officials of the Ministry and the national transporter to work out the modalities for the merger.
iii. The committee has been asked to submit its report by August 31.

Kotak Mahindra Bank starts Innovation Lab, open to investing in startups
i. Private sector lender Kotak Mahindra Bank has started an 'Innovation Lab' in Bengaluru to tap into the best technology that impacts its operations, and is open to investing in startups.
ii. The fourth largest private sector bank has put together a seven-member core team which is working with an equal number of startups in the artificial intelligence, analytics, biometric or iris scanning and machine learning space.
iii. The initiatives being undertaken by them include launching dedicated funds to invest in startups, starting incubation centres, organising 'hackathons' and ideation contests.

E-verifying without net banking: More banks to follow PNB,UBI
i. After Punjab National Bank and United Bank of India, more banks are likely to soon start a facility wherein an account holder can verify his income tax return on e-filing site even without having netbanking.
ii. Electronic Verification Code (EVC) can be generated by pre-validating the bank account on the e-filing portal of the Income Tax Department.
iii. CBDT said EVC can be generated by pre-validating a Demat Account on the e-filing portal. NSDL and CDSL have launched this facility which will facilitate the account holders to e-verify their return.

6,900 km gas pipelines to connect Bangladesh, Myanmar, India
i. The government has ambitious plan to lay 6,900 km of gas pipelines linking Bangladesh, Myanmar, most north-eastern states, and West Bengal.
ii. Currently, large quantities of gas is flared (burned) in the north-eastern region because it can't be piped to the consumers, he said.
iii. Bangladesh Petroleum Corporation (BPC) and Indian Oil Corporation (IOC) signed an agreement in April this year to jointly set up a Liquefied Petroleum Gas (LPG) terminal plant in Chittagong port city which will help pipe gas to the north-eastern states.

Fifth Generation signs pact with Anna University
i. Fifth Generation Technologies, a multi-national research and innovation company with specialisation in building “real time intelligence” solutions and products to the manufacturing industry, has entered into an agreement with Anna University, Chennai, for conducting research to arrive at a useful prediction of the remaining life of critical equipment that are working in high temperature environments.
ii. The company proposes to invite one of its clients who are global industry leaders and original equipment manufacturers of such critical equipment to participate in this research.

Famous Lyricist Na Muthukumar passed away
i. Na Muthukumar passed away in Chennai at the age of 41 years.
ii. He was suffering from jaundice for the past few days.
iii. He won two national awards for the songs Ananda Yazhai Meetukiral in Thanga Meengal and Azhage Azhage in Saivam.
iv. He has written songs for more than 1000 films. In 2012 alone, he has written songs for about 102 films.

Former minister S.P. Sarguna Pandian passed away
i. Former DMK Minister S.P Sarguna Pandian, who began her political career as a platform speaker, died. She was 75 years old.
ii. She was elected to the Assembly from the R.K. Nagar constituency in 1989 and again in 1996.
iii. As a Minister she held the portfolio of Social Welfare between 1996 and 2001. In the 2006 Assembly elections, she contested unsuccessfully from the Royapuram constituency.

Akshardham founder Pramukh Swami passes away
i. Pramukh Swami, the 95-year-old founder of Akshardham temples and a saint of the Swaminarayan sect, passed away after prolonged illness at the Sarangpur temple.
ii. He was the president of the Bochasanvasi Akshar Purushottam Sanstha (BAPS), a sub-sect of the Swaminarayan sect, which during his tenure expanded globally, with over 3000 temples built in five decades worldwide.
iii. Prime Minister Narendra Modi and the late President, A.P.J. Abdul Kalam were among his followers. Kalam had written a book on his “spiritual experiences with Pramukh Swami” and during his tenure as President, he had inaugurated the Akshardham temple complex in New Delhi.

USA wins 1,000th Olympic gold medal
i. Simone Manuel anchored the U.S. women's 4x100 metres medley relay team to the 1,000th gold medal in her country's summer Olympic history, and the second of her career.
ii. Australia won the silver, with Cate Campbell touching out just 0.01 ahead of bronze medallists Denmark.

15th August, 2016

Union Minister launches clean cooking fuel scheme for BPL women in West Bengal

i. Union Minister of State for Petroleum and Natural Gas Dharmendra Pradhan has launched the Pradhan Mantri UjjwalaYojana (PMUY) in West Bengal, which is a scheme to provide clean cooking fuel to the women belonging to the 'Below Poverty Line' (BPL) households across the country.

ii. PMUY which was launched by the Prime Minister of India on May 1, 2016 at Ballia (Uttar Pradesh) aims to provide LPG connections to 5 Crore BPL households by 2019 and is a part of larger programme of adding 10 Crore new LPG connections by 2019 to achieve full coverage of connections in Indian households.

IISc bags maximum number of INSA Medals for Young Scientists

i. Indian Institute of Science (IISc) has bagged the 5 Medals for Young Scientists award 2016.

ii. It was awarded by the Indian National Science Academy (INSA). The winners from IISc this year are: Prabeer Barpanda, Sai Siva Gorthi, Praveen Kumar, Anshu Pandey and Chandan Saha.

iii. The INSA annually presents the Young Scientist Award to distinguish young scientists who have made notable research contributions in science and technology.

Nawazuddin Siddiqui, Sonam Kapoor win top awards at IFF Melbourne

i. Bollywood star actors Sonam Kapoor and Nawazuddin Siddiqui bagged the best actress and best actor awards at the Indian Film Festival (IFF) of Melbourne 2016.

ii. The theme for this year 2016 is ‘Women Empowerment’. Angry India Goddesses, will bring the curtains down for the festival.

Award winners are:

1.Best Actor (Male) – Nawazuddin Siddiqui for Raman Raghav

2.Best Actor (Female) – Sonam Kapoor for Neerja

3.Best Film Award – Kapoor & Sons

4.Best Indie Film – Thithi

5.Best Director – Shakun Batra 

6.Indian Film Festival Excellence in Cinema Award(lifetime achievement award) – Rishi Kapoor.

South Indian Bank, SBI Card to launch co-branded credit card

i. Kochi Based leading private sector Lender South Indian Bank, leading private sector bank, and SBI Card, one of India's leading Credit Card issuers, announced the launch of co-branded credit cards for the customers of South Indian Bank.

ii. Through this alliance South Indian Bank and SBI Card will launch two variants of credit card on VISA platform, namely South Indian Bank Platinum SBI Card and South Indian Bank SimplySAVE SBI Card.

UBI launches USSD based mobile app for basic banking needs with NPCI

i. National Payments Corporation of India (NPCI) ties up with Union Bank of India to launch an USSD based *99# mobile application for their customers.

ii. This application can be downloaded in an android smartphone from the Google Play Store by the bank customers and can be used even without any internet connection as it does not require any data.

IRDAI Slaps Rs 35 Lakh Fine On Bharti AXA General Insurance

i. Insurance watchdog, IRDAI has imposed Rs 35 lakh fine on Bharti AXA General Insurance Co Ltd for violation of various norms including outsourcing activities and corporate governance guidelines.

ii. The fine is based on violation related with an inspection finding during December 2012 to March 2013.

Smart Ganga City programme launched in 10 cities

i. Union Ministers M Venkaiah Naidu and Water Resources Minister Uma Bharti has jointly launched 'Smart Ganga City' programme in 10 cities located along Ganga to set up Sewage Treatment Plants (STPs) and improve drainage network there on hybrid annuity mode on public private partnership basis.

ii. Union Urban Development Minister Naidu and Water Resources Minister Bharti launched the works through video conferencing and were joined in by District Magistrates/Mayors of cities/towns.

iii. Haridwar, Rishikesh, Mathura, Varanasi, Kanpur, Allahabad, Lucknow, Patna, Sahibganj and Barrackpore are the cities/town where the programme will be implemented in the first phase. iv. These cities has been chosen by the National Mission for Clean Ganga where the programme will be established in the first phase for infrastructure development for sewage treatment on hybrid annuity mode on public private partnership basis.

Microsoft acquires gaming startup Beam

i. Microsoft has acquired Beam, an interactive livestreaming startup that lets viewers watch and play along with game streamers in real time and did not disclose financial terms of the deal. Beam, launched in January this year, has 24 employees.

ii. The move will support Microsoft's growth strategy around Xbox Live, one of the world's most popular social gaming platform.

Indian ace wins Australian Open squash

i. India squash queen Dipika Pallikal won the Australian Open squash title by beating Mayar Hany of Egypt by 0-12, 11-5, 11-6, 11-4.

ii. Notably, this is first Professional Squash Association (PSA) title since February 2015. Pallikal stands on 10th in ranking table and this is Dipika’s 11th PSA title.

16th August, 2016

Bihar Assembly unanimously passes GST bill

i. The Bihar state assembly has unanimously passed the crucial Goods and Services Tax Bill (GST Bill).

ii. With this, it has become the first non-Bharatiya Janata Party-ruled state to ratify the GST, Last week, Assam became the first state to ratify the Bill.

iii. The GST Bill needs to be ratified by at least 15 state legislatures before the President can notify the GST Council, which will then decide the new tax rate and other issues.

Tamil Nadu Jayalalithaa announces hike in pension to freedom fighters

i. Tamil Nadu CM Jayalalithaa has announced Rs 1,000 increase in the freedom fighters pension from Rs 11,000. 

ii. The announcement came during her address after unfurling national flag at Fort St. George on the occasion of Independence Day.

Odia becomes Official Language in Odisha from today

i. Odia language will be used as the official language in all government offices in Odisha from today onwards.

ii. According to the amendment of the Orissa Official Language Act 1954, all government letters, files will be carried in Odia language.

iii. Chief Secretary Aditya Prasad Padhi has prepared a panel to ensure mandatory use of the Odia as the State language in all Government offices across the state.

India extends $ 1 million grant to Zimbabwe

i. India has provided One million US Dollars grant to Zimbabwe in the wake of El Nino induced drought disaster. 

ii. External Affairs Ministry said, last week, Indian Ambassador to Zimbabwe handed over the assistance to Zimbabwe. 

iii. Accepting the grant, Chief Secretary to the President and Cabinet Dr. Misheck Sibanda thanked for the quick response by India to an international appeal made by his country. 

Nuclear suppliers’ insurance policy unveiled

i. New India Assurance Co and india nuclear insurance pool (INIP) will issue the policy and administer the claims on behalf of the pool. 

ii. INIP is the 27th global nuclear insurance pool which was launched by General Insurance Corporation of India (GIC Re), in association with non-life.

iii. This pool provides capacity for insurance coverage to operators and suppliers for any nuclear liability towards third party.

CLRI scientist bags A P J Abdul Kalam award

i. Central Leather Research Institute's (CLRI) Principal Scientist P Shanmugam has bagged the Dr APJ Abdul Kalam Award for meritorious services in the Higher Education Department of Tamil Nadu (TN). 

ii. Chief Minister J Jayalalithaa presented the award comprising a certificate, Rs. 5 lakh cheque and 8 gram gold medal.

Singapore ranked 6th in Global Innovation Index

i. India climbed 15 spots, from 81 last year, to 66 in the Global Innovation Index (GII) and maintained the top spot in the Central and South Asia regions, according to the rankings released by Cornell University, INSEAD and the World Intellectual Property Organization (WIPO).

ii. Switzerland, Sweden, United Kingdom, United States of America and Finland have been placed ahead of Singapore as the top 5 in the index, while Ireland, Denmark, Netherlands and Germany follow, including in the top 10 most innovative economies.

L&T bags contract to convert Nagpur into integrated smart city

i. Larsen& Toubro has been identified as Implementation Partner to convert Nagpur, into the country's first large-scale integrated Smart City as per a Letter of Intent that was handed over in the auspicious presence of the Hon'ble Chief Minister of Maharashtra, Devendra Fadnavis.

ii. The goal of building a smart city is to improve the quality of life by using technology to improve the efficiency of services and meet residents’ needs. 

Tata AutoComp to acquire TitanX

i. Tata AutoComp Systems, the Tata Group-owned auto-component conglomerate, will acquire TitanX, a leading global engine cooling supplier. It is currently owned by EQT Opportunity and Fourier transform.

ii. TitanX supplies engine and powertrain cooling solutions to the commercial vehicle industry having plants across North America, South America, Europe and China with sales of approximately $200 million.

China successfully launches world's first quantum satellite

i. China today successfully launched the world's first quantum satellite which boasts of establishing hack-proof communications between space and the ground as it is equipped with security features to prevent wiretapping and intercepts. 

ii. The satellite nicknamed "Micius" was launched from the Jiuquan Satellite Launch Centre.

iii. Quantum communication boasts of ultra-high security as a quantum photon can neither be separated nor duplicated. It is hence impossible to wiretap, intercept or crack the information transmitted through it.

Minda forms JV with Chinese firm for auto components

i. Auto component maker Spark Minda group flagship firm, Minda Corporation Ltd has formed a joint venture (JV) with China's Shandong Beiqi Hai Hua Automobile Parts Co (SBHAP). 

ii. The 50:50 joint venture, to be known as Minda China Plastic Solutions Ltd, is being formed between Minda KTSN, a 100% subsidiary of Minda Corp and the Chinese partner, the company said in a BSE filing.

iii. The total investment of the JV will be $1.25 million (around Rs 8.35 crore).

China begins operating bullet trains at 350 kmph speed

i. China on Monday began operating its indigenously designed bullet trains which can clock 350 kmph speed.

ii. The China Railway Corporation announced that Train No G8041 departed from Dalian for Shenyang, capital of northeast China’s Liaoning.

First Speaker of Delhi Assembly Charti Lal Goel passes away

i. Charti Lal Goel, the first speaker of the Delhi Assembly has passed away today after prolonged illness.

ii. Charti Lal, 89, breathed his last at the All India Institute of Medical Sciences.

Usain Bolt wins gold in men's 100 meters in Rio Olympics

i. Jamaican sprinter Usain Bolt has won gold in the 100-metre final in Rio de Janeiro, Brazil. 

ii. With this win, Bolt became the first man to win the event 3 times at consecutive Olympic Games. 

iii. Bolt won the race in 9.81 seconds, followed by USA’s Justin Gatlin at 9.89 seconds and Canada’s Andre De Grasse at a personal-best 9.91 seconds. 

iv. De Grasse is also the first Canadian male athlete to win a medal in Rio.

17th August, 2016

Jharkhand Assembly convened today to ratify GST Bill

i. Jharkhand Assembly has been convened today to ratify Goods and Services Tax (GST) Bill passed by both Houses of Parliament.

ii. Now Jharkhand became the third state to ratify the bill.

iii. Last week, Assam became the first state in the country to ratify the constitution amendment bill on the GST as the assembly unanimously passed the bill.

Four states to get new Governors

i. Banwarilal Purohit has replaced Padmanabha Balakrishna Acharya as the Governor of Assam.

ii. V.P. Singh Badnore has been appointed as Governor of Punjab.

iii. Jagdish Mukhi has been appointed as Governor of Andaman and Nicobar

iv. Former Union Minister Najma Heptulla has been appointed Governor of Manipur. 

Gujarat govt to implement 7th Pay Commission recommendations from 1st Jan

i. Gujarat government has approved the implementation of the recommendations of 7th Pay Commission, raising salaries of over 8.5 lakh state employees and pensioners,  from 1st Jan.

ii. The Cabinet gave its approval to a proposal to implement the recommendations at a meeting in Gandhinagar chaired by Chief Minister Vijay Rupani.

RBI imposes penalty on four cooperative banks

i. Reserve Bank of India (RBI) has imposed penalties on four cooperative banks for violation of various norms. 

ii. Cooperative banks are:  Cooperative City Bank, Guwahati – Rs 5 lakh, Indapur Urban Cooperative Bank, Indapur – Rs 2 lakh, Shri Dadasaheb Gajmal Cooperative Bank, Pachora – Rs 1 lakh and Model Cooperative Urban Bank, Hyderabad – Rs 1 lakh.

Uttar Pradesh cabinet approves Metro Rail for Allahabad

i. The Uttar Pradesh government has approved a Metro Rail project for Allahabad.

ii. The decision was taken at a cabinet meeting chaired by Chief Minister Akhilesh Yadav.

iii. The state cabinet also approved a scheme to provide free school bags and books to students till class VIII in government schools.

A.R. Rahman honoured with Tamil Ratna Award

i. Oscar-winning music maestro A.R. Rahman has been honoured by the America Tamil Sangam with its Tamil Ratna Award.

ii. Presenting the award after Rahman's concert at the United Nations General Assembly chamber.

iii. Rahman was invited at the UNGA to perform a concert to honour M.S. Subbulakshi, the doyen of Carnatic music. The concert was sponsored by India's UN Mission and Sankara Nethralaya, a Chennai-based charity organisation.

Telangana gets highest gallantry medals in country

i. Telangana State has received the highest number of gallantry medals for police personnel in the country on the eve of Independence Day.

ii. It was the only State unit to secure the President’s police medal for gallantry (PPMG). 

iii. The other units to receive the award this year were Central Reserve Police Force(CRPF), Indo-Tibetan Border Police(ITBP), and the Intelligence Bureau(IB).

Tata Power Solar commissions 100 mw project in Andhra

i. Tata Power Solar has commissioned a 100 mw solar project for NTPC in Anantapur, Andhra Pradesh, the biggest solar project commissioned using domestically manufactured solar cells and modules. 

ii. Tata Power Solar delivered the project in record 80% of stipulated timelines, and nearly 3 months ahead of schedule.

Sehwag becomes MCC's honorary life member

i. Virender Sehwag, former India batsman, has been awarded the honorary life membership of the Marylebone Cricket Club 

ii. The 37-year-old Sehwag played 104 Tests, 251 One Day Internationals and 19 Twenty20 Internationals during his illustrious career. 

iii. Sachin Tendulkar, Rahul Dravid, Sourav Ganguly among others are already members of MCC.

Over 10000-Year-Old Camping Site Discovered in Ladakh

i. The Archaeological Survey of India (ASI) has discovered an ancient camping site dating 8500 BC in Ladakh in Jammu and Kashmir (J&K), indicating humans were camping in the area 10,500 years ago. 

ii. This site was unearthed at 14,000 feet above the sea level on the way from Saser La to Ladakh. 

Malayalam screenwriter TA Razaq passes away

i. Malayalam filmmaker-scriptwriter TA Razaq passed away in Kochi. 

ii. He was 58. Razaq was undergoing treatment related to liver-related ailment at a private hospital, where he breathed his last.

iii. Razzaq’s film career began in the late 1980s, when he started work as an assistant director on the film Dhwani.

Punjabi writer Gurdial Singh passes away at 83

i. Padma Shri awardee Punjabi writer Gurdial Singh, 83, breathed his last after a prolonged illness in Bathinda. 

ii. Singh had been on ventilator support since August 13 after he had fell unconscious at his residence in Jaitu town of Faridkot district.

Reliance Brands inks pact with Scotch & Soda

i. Reliance Brands, a part of Reliance Industries Group, today announced a long-term master franchise agreement with Amsterdam-based fashion brand Scotch & Soda.

ii. Under the agreement, Reliance Brands will set up Scotch & Soda stores in all major cities in India by 2017.

Unilever acquires Blueair

i. Unilever, the parent company of Hindustan Unilever (HUL), has acquired Swedish firm Blueair, a leading player in mobile air purification technology, for an undisclosed sum.

ii. With this deal, Unilever is making its foray in air purification, a move that will complement its existing water purification business. 

iii. Unilever is an Anglo-Dutch multinational consumer goods company co-headquartered in Rotterdam, Netherlands, and London, United Kingdom.

18th August, 2016

UP announces Rani Laxmi Bai award for Sakshi Malik

i. The UP govt will honour wrestler Sakshi Malik with the coveted Rani Laxmi Bai award.

ii. The award carries a cash prize of Rs. 3.11 lakh.

iii. The 23-year-old won the bronze in the 58-kg category wrestling.

Govt slaps Rs 2,500 crore penalty on Reliance Industries

i. Govt has slapped an penalty of USD 380 million on Reliance Industries and its partners for producing less than targeted natural gas from KG-D6 fields.

ii. The total penalty for missing the target in 5 fiscal years beginning April 1, 2010, now stands at USD 2.76 billion.

Federal Bank starts distributing MMTC gold coins

i. Federal Bank has become the first private sector bank to start distributing gold coins made by government-controlled Metals and Minerals Trading Corporation of India (MMTCI).

ii. The Indian gold coins are of 24 karat purity, 999 fineness and has the National Emblem of Ashok Chakra engraved on one side and the face of Mahatma Gandhi as in currency notes on the other.

iii. These coins were launched by the government of India last year. The first-ever national gold offering by the Government was launched by Prime Minister Narendra Modi In November 2015.

Kerala Govt. allots Rs 10,000 cr for govt schools

i. Kerala govt has earmarked Rs 10,000 crore for state-run and aided schools for the next 5 years.

ii. As part of the drive, around 60,000 new hi-tech class rooms will be set up in all govt and aided schools. 

iii. About 1,000 schools will be elevated to international standards.

Wrestler Sakshi Malik wins bronze for India in Rio 2016

i. India's Sakshi Malik won a bronze medal in the wrestling 58kg category in Rio Olympics 2016.

iishe beat Aisuluu Tynybekova 8-5 in the bronze medal bout.

iii. The 23-year-old became the 4th Indian woman to have ever won an Olympic medal

India, B'desh to jointly make films on 1971 war, Sheikh Mujibur

i.India and Bangladesh will jointly produce a documentary on the 1971 War of Independence of Bangladesh.

ii. India will also facilitate the production of a "mega movie" by Bangladesh to mark the 100th birth anniversary of its Father of the Nation Bangabandhu Sheikh Mujibur Rahman in 2020.

World's Longest, Highest Glass Bridge To Open In China

i. The world's longest and highest glass bridge will open to visitors.

ii. The bridge concreted with 99 panes of three-layer transparent glasses, hangs between two steep cliffs 300 metres altitude is maintained from the ground.

iii. The bridge has set 10 world records spanning its design and construction.

Former Fifa president and IOC member dies aged 100

i. Former FIFA President Joao Havelange has passed away at Samartino Hospital, Rio de Janeiro. 

ii. He was 100 years old. 

iii. He was 7th head of international football’s governing body FIFA from 1974 to 1998.

Noted actor & director Gobind Tej passes away

i. Noted actor and director Gobind Tej passed away. 

ii. while undergoing treatment at a hospital in Bhubaneswar. He was 88.

iii. He received the Odisha State Film Award for Best Director for movies like ‘Kaberi’, ‘School Master’, ‘Tunda Baida’ and ‘Gare Sindura Dhare Luha.’

19th August, 2016

SBI approves merger with associates

i. The board of country's largest lender, State Bank of India (SBI) has approved share swap ratio to merge 5 associate banks and Bharatiya Mahila Bank (BMB) with itself.

ii. In the swap ratio an acquiring company will offer its own shares in exchange for the target company's shares during a merger or acquisition.

As per the approved merger ratios for each of the banks, the scheme provides for allotment of:

1. SBI will give 28 of its shares for every 10 shares held of State Bank of Bikaner and Jaipur. 

2. It will give 22 of its shares for every 10 shares held of State Bank of Mysore. 

3. The lender will give 22 of its own shares for every 10 shares held of State Bank of Travancore. 

4. SBI will give 4,42,31,510 shares with face value of Re. 1 for every 100 crore equity shares of Bhartiya Mahila Bank. 

Sachin Tendulkar adopts village in Osmanabad under SAGY

i. Former Cricketer and Rajya Sabha MP Sachin Tendulkar has selected Donja village in Osmanabad district of Maharashtra for development under the Sansad Adarsh Gram Yojna (SAGY).

ii. Sansad Adarsh Gram Yojana is a rural development programme.

iii. Sansad Adarsh Gram Yojana, launched in October 2014.

IIT-Kanpur Adopts Villages Under Namami Gange

i. IIT-Kanpur has adopted 5 villages under the Namami Gange programme and will use its expertise to restrict the flow of sewage into the river.

ii. The task will be undertaken by the institute's civil engineering department.

iii. The five villages adopted by the institute are Ramel Nagar, Khoyra Katree, Pratapur, Hari Hindpur, and Katri Ladhva Khera. 

iv. Under the initiative, IIT-Kanpur will ensure sewage water is not disposed of in the river, and also keep a check on quality of drinking water and sanitation.

Seven  Indian companies among top 200 carbon clean firms

i. Seven Indian companies have made it to a carbon-clean list of 200 largest companies worldwide ranked by their total clean-energy revenues.

ii. The list is topped by Japan's Toyota Motor.

iii. Indian companies are: 1. Suzlon Energy at 68 rank for its wind farms. 2. Bharat Heavy Electricals Ltd at 106 for its wind electric generators and solar cells. 3. Tata Chemicals at 114 for chemicals for biodiesel, solar energy, and fuel cells. 4. Thermax Ltd is at 139. 5. Exide Indus at 153 for electric storage batteries. 6. IDFC Ltd is at 155 for its green infrastructure financing. 7. Havells India at 166 for energy meters.

Hindi author Sunita Jain conferred Vyas Samman award

i. Hindi scholar and writer Sunita Jain was awarded the prestigious 25th Vyas Samman 2015 for her poetry collection "Kshama". 

ii. West Bengal Governor K N Tripathi conferred the award on the scholar.

iii. The award instituted by the K K Birla Foundation carries a cash prize of Rs 2.50 lakh. It is given annually to outstanding literary work in Hindi authored by an Indian citizen. 

NMCG and IOC sign MoU for industrial use of treated water

i. National Mission for Clean Ganga (NMCG) and Indian Oil Corporation Ltd (IOC) sign MoU for industrial use of treated water. 

ii. This MoU helps in the establishment of STP in Mathura which will provide treated water for industrial use.

iii. Union Minister for Water Resources, River Development and Ganga Rejuvenation Uma Bharti lays foundation of Rs. 40 crore sewage treatment plants (STP) in Vrindavan, which is estimated at a cost of Rs. 40 crore and a nine kilometer pipeline from Laxmi nagar to Gokul barrage will carry the treated water to Mathura refinery.

E-auction portal for power transmission

i. Union Power Minister Piyush Goyal launched the process of tariff-based reverse auction in the transmission sector and also inaugurated a portal for electronic bidding for transmission projects.

ii. Union Minister has launched “Tarang” mobile App, “e-Trans” and “DEEP” (Discovery of Efficient Electricity Price) e-bidding web portals developed by Rural Electrification Corp which reverse auction is being introduced in transmission sector on the lines of coal sector in order to facilitate better price discovery in such projects.

India Post Payments Bank incorporated, to start ops in 2017

i. India Post Payments Bank has come into existence after it received certificate of incorporation from the Registrar of Companies, setting the stage for the new bank to begin operations in 2017.

ii. This will be the first PSU under the Department of Posts which expects to complete the rollout of its branches all over the country by September 2017.

Doha Bank opens first branch in Kerala

i. Doha Bank QSC, one of the prominent banks in Qatar, is formally inaugurating its first branch in Kerala on August 27.

ii. The branch offers all banking products to corporate and retail customers. It will be formally inaugurated by the State Chief Minister Pinarayi Vijayan.

Federal Bank to use Chillr app

i. Federal Bank has partnered with Chillr, a mobile banking application that connects directly to a person’s bank account and enables instant money transfers, bill payments, phone recharge and e-commerce payments in a very secure environment.

ii. As India’s first and only multi-bank mobile application, Chillr allows users to connect seamlessly with multiple bank accounts and manage all their banking needs on a single platform, making money transfer between bank accounts easier, faster and safer than sending a text message.

Alibaba Group launches ‘million books’ donation drive

i. The Alibaba Group, along with Crossword and Ratna Nidhi Charitable Trust has launched ‘Mission Million Books’, a pan-India initiative inviting Indian citizens to donate textbooks and educational material for the underprivileged.

ii. Alibaba Group Holding Limited is a Chinese e-commerce company that provides consumer-to-consumer, business-to-consumer and business-to-business sales services via web portals.

India inks deal to ferry oil through Bangladesh

i. India has signed a short-term route agreement with Bangladesh to allow transport of petroleum goods from Assam to Tripura through Bangladesh after heavy monsoon damaged roads and made the transportation between the two states difficult.

ii. This is a short-term deal and Bangladesh side agreed to the Indian proposal to grant validity of the MoU till September 30.

Love Story director Arthur Hiller is dead

i. Arthur Hiller, who received an Oscar nomination for directing the blockbuster romantic tragedy “Love Story”. He was 92.

ii.  The Canadian-born, dauntingly prolific Mr. Hiller ascended during the era of live television, and his versatility and workmanlike skill brought him a great deal of Hollywood work in TV and then film.

20th August, 2016

Urjit Patel appointed as next RBI Governor
i. Urjit Patel is the new Reserve Bank of India Governor, the Finance Ministry announced.
ii. Patel will succeed Raghuram Rajan as the RBI chair once he steps down on September 3, after his term comes to an end.
iii. He will be India's 24th RBI Governor.
iv. One of the RBI's four deputy governors, Patel, 52, was reappointed in January for another three years. He has run the central bank's monetary policy department since 2013 and is viewed as a leading contender for the governor's job.

P V Sindhu wins silver in women's singles badminton: Rio Olympic 2016

i. India's P V Sindhu today created history by winning a silver medal in women's singles badminton event at Rio Olympics 2016.

ii. She is the first Indian female and first ever Indian shuttler to win an Olympic silver.

iii. Carolina Marin of Spain beat P.V. Sindhu of India to take gold and Japan's Nozomi Okuhara won bronze medal. 

iv. She also became the fourth Indian to win a silver at the Olympics.

PM Modi to be new brand ambassador of Incredible India

i. Indian government’s Tourism Ministry has decided that instead of getting a brand ambassador for the Incredible India campaign, it will make Prime Minister Narendra Modi the face of the campaign.

ii. But his face will be used for the advertisements and promotional films. Even Gujarat Tourism’s prosperity will also be mentioned. 

PM Modi's monogrammed suit enters Guinness Records as 'most expensive suit sold'

i. The monogrammed suit worn by Prime Minister Narendra Modi during his meeting with American President Barack Obama last year, which created huge controversy, entered Guinness Book of World Records as ‘the most expensive suit sold’.

ii. The suit was sold at an auction for Rs 4.31 crore.

Two-day meeting of BRICS women Parliamentarian's forum to begin in Jaipur today

i. The two-day meeting of the BRICS Women's Parliamentarian Forum will begin here on Saturday in which 42 delegates from member countries will participate. 

ii. Lok Sabha Speaker Sumitra Mahajan will inaugurate the meeting which will have different plenary sessions.

iii. A total of 42 delegates are scheduled to attend the meeting.

Kerala Cabinet approves new debt relief scheme

i. Kerala government has approved a new debt relief scheme for low income and poor people who face the threat of revenue recovery proceedings after they fail to repay loans taken from various financial institutions under the government. 

ii. The scheme, expected to cause an additional burden of Rs 40 crore to the exchequer, would benefit more than 10,000 persons.

BEL head bags top award

i. SK Sharma, Chairman and MD, Bharat Electronics Limited (BEL), has been awarded as the Most Enterprising CEO in Electronics Sector by the Indo Global Business Council (IGBC), a policy think-tank based in New Delhi. 

ii. M M Joshi, Executive Director (National Marketing), BEL, received the award on behalf of CMD.

Cipla, Godrej recognized in Fortune ‘Change the World’ list

i. India’s pharmaceutical giant Cipla Ltd and consumer goods conglomerate Godrej have been recognized by Fortune magazine in a list of global firms changing the world for the good and having a positive social impact through their activities.

ii. Cipla is ranked 46th in the list of 50 followed by Godrej on the 48th spot, the only Indian companies in the list.

iii. The list has been topped by British pharma giant GlaxoSmithKline and includes Swiss food products major Nestlé (5), India-born Ajay Banga-led Mastercard (7).

KVIC approves hike in wages of Khadi Artisans

i. Khadi and Village Industries Commission (KVIC) has approved a wage hike along with a hike in Market Development Assistance.

ii. The KVIC has informed that spinners will now earn 5.50 rupees instead of 4 rupees per hank with an additional 10 percent Market Development Assistance.

Indian-American inducted in Texas Women's Hall of Fame

i. Renu Khator, Indian-American woman academic, will be inducted into the Texas Women's Hall of Fame for making significant contribution for the benefit of the US' second largest state.

ii. Dr. Renu Khator – Public Service is the chancellor of the University of Houston System and president of the University of Houston. 

Usain Bolt wins 200m to complete hat-trick

i. Jamaican's sprinter Usain Bolt has won the 200 metres final to add to his 100m title at the Rio Olympics 2016. Bolt eased to victory in the 200m final in 19.78 seconds. 

ii. He had also won the 200 metres race in 2008 Bejing and London 2012. This was his ninth gold medal. The legendary runner announced that he will retire from the sport next year.

SOURCE: bankers adda.com