GK Updates - 9 April | Banking Quiz

India’s GDP growth likely to rise to 5.4% in 2014: IMF

1.India's growth could recover to 5.4 per cent in the current fiscal year and increase by one percentage point to 6.4 per cent in the next year to March 2016 due to stronger global growth, an improvement in export competitiveness and implementation of the recently-approved investment projects, according to the International Monetary Fund (IMF).

2.In the just-ended fiscal year, IMF expects the economy to expand 4.4 per cent, according to its World Economic Outlook, which urged more economic reforms.

3.IMF measures GDP in terms of market prices while India gives more weight to the factor-cost method. In terms of factor cost, IMF expects the Indian economy to expand 4.6 per cent in 2013-14, close to the country's official estimate of 4.9 per cent.

4.IMF's estimates for 2014-15 and 2015-16 are same under both the methods - 5.4 per cent and 6.4 per cent, respectively. The multilateral lender sees the global economy growing 3.6 per cent in 2014, 0.1 percentage point lower than its January estimate, and 3.9 per cent in 2015, again 0.1 percentage point from the earlier estimate.

Shikhar Dhawan named one of Wisden's Five Cricketers of the Year

1.India's swashbuckling opening batsman Shikhar Dhawan has been named as one of the Five Cricketers of the Year, an honour dating back to 1889, by Wisden for his performance in 2013.

2.The 28-year-old Dhawan was the highest run-scorer during India's triumph in the ICC Champions Trophy, amassing 363 runs in five ODIs at an average of 90.75. He was awarded Man of the Series for his performance that included centuries against South Africa and West Indies.

3.His performance during the tournament in England was acknowledged by Wisden, which also named Australian duo Chris Rogers and Ryan Harris, England batsman Joe Root and England women's captain Charlotte Edwards in the list.

4.Opener Rogers, fast bowler Harris and Root were chosen for their contributions to the 2013 Ashes, while Edwards was acknowledged for leading the English side to the finals of the recent World Twenty20.

5.In 2013, Dhawan scored 1162 runs in 26 ODIs at an average of 50.52, but the left-hander is currently going through a dip in form and was dropped from the side after the Bangladesh match during the recent World Twenty20.

Tata Steel to sell New Zealand unit for Rs 143 crore

1.Tata Steel is selling a unit of its international operations, specifically the business in New Zealand and Pacific Island for NZ$ 27.5 million or Rs 143 crore, to a Kiwi company, Steel and Tube, as part of its restructuring strategy. The unit, which is into distribution of stainless steel, engineering steels and composite floor decks, is housed under Tata International (Australasia) and came into the fold of India's biggest alloy producer following its acquisition of UK's Corus Group in 2007. The transaction is expected to be completed on April 14, Tata Steel said in a notification to the bourses.

2.The development comes close on the heels of Tata Steel's 25-acre land sale deal with Oberoi Realty for Rs 1,155 crore last month.

3.The Cyrus Mistry-chaired steel major has been selling its portfolio in bits and parts to improve financial flexibility and to pare debt, which has swelled to over Rs 70,000 crore. The debt has been mainly a result of its ambitious $13 billion Corus purchase.

4.Tata Steel has struggled to reap fruits of the Corus deal over the last seven years because of Europe's weak economic condition.

5.The strategic actions have helped Tata Steel raise more than $2 billion from its portfolio.

India’s Mars mission crosses half the distance

1.Cruising towards a historic feat, the Indian space mission to Mars on Wednesday crossed half the total distance to the red planet from Earth and was very much along the designated helio-centric trajectory.

2.At exactly 09.50 am (IST), the Mars Orbiter Mission spacecraft crossed the mid-point of its path to Mars, thereby has travelled 337.5 million km in its elliptical orbit around the sun, ISRO sources said.

3.It took four minutes and 15 seconds for a message to reach the spacecraft and return, they said.

4.Incidentally, the spacecraft is crossing half the total distance on its way to Mars, a day after Earth was at its closest to the red planet, in their respective orbits.

5.The mission was very much in track and it was evident with the fact that the second Trajectory Correction Manouvre (TCM) planned on the spacecraft has now been considered not necessary and is expected to be performed only in June, scientists said.

6.ISRO has been continuously monitoring the spacecraft using its Deep Space Network complemented by that of Jet Propulsion Laboratory of the NASA and the five scientific instruments onboard the craft were “in good health.”

WWE Super Star passes away

1.WWE Hall of Fame, wrestling legend Ultimate Warrior died at the age of 54 after collapsing in front of his hotel room in Arizona.

2.The WWE star, who legally changed his name from James Brian Hellwig to his ring name in 1993, entered the WWE Hall of Fame at Sunday’s WrestleMania 30 and gave an impassioned speech on Monday Night RAW.

3.Warrior was walking from his hotel room to his car with his wife just before 6 pm yesterday when he suddenly fell to the ground and was later pronounced dead at a local hospital.

4.The WWE family including the Rock, Triple H and Hulk Hogan payed tribute to the WWE star, who entertained the fans with his trademark antics.

Viber appoints Mark Hardy as CMO

1.Instant messaging and voice application Viber today appointed Mark Hardy as Chief Marketing Officer (CMO).

2.Based out of London, Hardy is tasked with the leadership of Viber’s marketing teams in Brazil, India, Philippines and Vietnam.

3.“Hardy to drive Viber’s global marketing strategy from London and lead local teams around the world,” the company said in a statement.

4.Available across platforms such as Android, Windows, iOS and Blackberry, Viber currently has over 300 million users in 193 countries. It allows users to send free text messages and make voice calls.

Bihar polls first phase to start tomorrow

1.The stage is set for the first of the six-phase Lok Sabha polls in Bihar tomorrow involving six of the total 40 constituencies, all located in the Naxal belt.

2.The constituencies going to the poll are Sasaram (SC), Karakat, Aurangabad, Gaya (SC), Nawada and Jamui (SC) where the Election Commission has called for deployment of extra security forces.

3.Eighty candidates, including 10 women, are trying their luck. Altogether 9,781 polling stations have been set up where voting will take place.

4.While a resurgent BJP is claiming to bag a major chunk of the 40 seats in Bihar, the RJD-Congress alliance and the alliance of the JD(U) and CPI are equally determined to corner maximum number of seats.

India's first aircraft carrier, INS Vikrant sold for 60 crore rupees

1.The decommissioned aircraft carrier of the Indian Navy, INS Vikrant, which played an important role in the 1971 Indo-Pak war, has been sold for Rs 60 crore.

2.Earlier, the Maharashtra government had expressed its inability to maintain Vikrant, the Indian Navy's first aircraft carrier which was commissioned in 1961. It was decommissioned in January 1997.

Andrea Petkovic won third WTA title at the Family Circle Cup

1.Andrea Petkovic of Germany on 6 April 2014 won her first WTA title in last three years at the Family Circle Cup in Charleston, United States. She won the title after defeating Jana Cepelova of Slovakia in straight sets 7-5, 6-2.

2.Overall, this is the third WTA title for Petkovic and first since her come back from the string of injuries in recent years. Petkovic last won in Strasbourg in 2011 and her first title came in 2009 in Bad Gastein.

HSBC MF India launches new open ended fund

1.HSBC Mutual Fund, India has launched an open ended fund of funds scheme ‘HSBC Managed Solutions’, which will invest into various asset classes including domestic and foreign equity, long and short-term debt and gold.

2.As per the fund house, the new scheme is based on the principle of active asset allocation in which investments are managed dynamically across asset classes and re-balanced regularly to ensure optimal allocation for risk profiles.

3.The new fund offer, which opens today, will close for subscription on April 23, 2014

Man jumps 14K ft with smallest parachute,sets world record

1.During his three-and-a-half-minute descent, Ernesto Gainza used a parachute measuring only 35 square feet.

2.Gainza risked a spin that would have killed him but managed a perfect landing in the Palm Drop Zone at the Skydive Dubai Club, last week. "It was awesome, amazing and emotional. I had to keep my body really straight, as even a little input from my hips or turning left or right could make the parachute turn," he said.

3.The athlete has already performed more than 7,000 jumps but spent a year in training for his attempt, 'metro.co.uk' reported. Gainza's jump took 0.18 sq m off the previous record for smallest canopy, set by Brazilian Luigi Cani in 2006.

4.Expert sky divers use parachutes that range in size from 80 to 200 square feet, and even the smallest of the high-performance canopy sizes developed over the last ten years average between 70 and 90 square feet.

Voting in 7 high-voltage LS seats in Delhi on Thursday

1.Voting will be held on Thursday for seven Lok Sabha seats in the country’s capital, seen as test of Aam Aadmi Party’s perceived erosion of support base, BJP’s claim of ‘Modi wave’ and assertion by Congress that it was regaining lost ground after drubbing in last assembly polls.

2.The high-voltage contest also assumes greater significance as it may set the stage for the possible assembly polls in the city in the next few months.

3.The campaign for the election saw main contenders BJP, Congress and fledgling AAP engaging in a fierce race to woo the 1.27 crore voters. Though Delhi has only seven Lok Sabha seats, the election outcome in the heart of the country carry a lot of significance due to political symbolism.

4.Though a total of 150 candidates are in the fray, including 58 Independents, the contest in all constituencies is likely to be three-way among the BJP, AAP and Congress.