GK Updates - 30 May | Banking Quiz

Narender Singh Tomar takes charge as Mines Minister

I.Environmental concerns would be given due weight while taking decisions concerning mines operations, Narender Singh Tomar said while assuming charge of the Union Minister for Ministry of Mines.

II.Tomar was accompanied by Vishnu Deo Sai, Minister of State for Mines. Tomar said they ministry would focus on using the mining resources available in the best interests of the nation and to fulfil the growth agenda of the new Government.

Hiroshi Naka appointed as Vice President and Auditor General of World Bank

I.Japanese national, Hiroshi Naka was appointed as the Vice President and Auditor General of World Bank. The appointment was announced by the World Bank President Jim Yong Kim. He will take the charge as the Vice President in July 2014.

II.He will be responsible for providing leadership on evaluating and improving the effectiveness of the bank's risk management, control and governance processes.

III.Naka has worked for more than 25 years with the Japanese Ministry of Finance and multilateral organisations. He is specialised in issues such as economic sanctions, anti-money laundering and supervision of financial institutions.

World Bank gives $1,006 mn loan for Sarva Shiksha Abhiyan

I.World Bank has signed an agreement with the government to provide a loan assistance of USD 1,006.20 million for Sarva Shiksha Abhiyan III, which is the largest ongoing "Education for All" programme in the world.

II.The loan agreement for World Bank (IDA) assistance of USD 1,006.20 million for Sarva Shiksha Abhiyan III has been signed between the government of India and the World Bank here today," an official statement said.

III.The agreement was signed by Nilaya Mitash, Joint Secretary, Department of Economic Affairs and Michael Haney, World Bank's Operation's Advisor in India.

IV.Sarva Shiksha Abhiyan is the flagship programme for universalising elementary education.

V.The overall goals of the programme include universal access and retention, reducing gender and social category gaps in elementary education and enhancement of learning levels of children.

VI.The World Bank assistance to Sarva Siksha Abhiyaan-III will primarily focus on qualitative improvement in the learning process of the children, said Mitash.

VII.In association with the World Bank, the objective of the project is to improve education outcomes of elementary school children in the country.

Ogilvy Mumbai wins big at AME awards

I.Continuing its dominance at the Effectiveness Awards shows, Ogilvy Mumbai enjoyed a stellar night at the Asian Marketing Effectiveness awards held in Singapore on May 29.

II.Piyush Pandey, Executive Chairman, Ogilvy South Asia, said that the award was due to the fantastic delivery of the firm's battery of creative young men and women.

III.On the back of big wins for Lifebuoy Roti and Google Reunion along with other wins for Vodafone, Mondelez and Fevicol, Ogilvy has won a total of 17 metals, thereby, winning the twin titles of Asia Pacific’s Most Effective Agency Office of the Year and Media Strategy Agency of the Year.

IV.The AME awards recognise campaigns that demonstrate effectiveness in delivering a return on the marketing investment.

Azlan Shah-The Father of Malaysian hockey died at 86

I.Azlan Shah best known as The Father of Malaysian hockey died in Ipoh, Malaysia on 28 May 2014. He was 86.

II.Shah was the 34th ruler of the State of Perak and was a die-hard hockey player. He was a former President of Malaysian Hockey Confederation (MHC).

Maya Angelou, the American author and poet died

I.Maya Angelou, a renowned American author and poet died on 28 May 2014 at her home in Winston-Salem of North Carolina. She was 86.

II.She wrote her autobiography, I Know Why the Caged Bird Sings in 1969. The book is an illustration of the setbacks, she underwent as a child and teenager that includes poverty, sexual abuse and guilt about a man who was murdered. The book became a best seller and was nominated for a National Book Award.

Indologist and Sanskrit Scholar Sukumari Bhattacharji died

I.Indologist and Sanskrit scholar Sukumari Bhattacharji who had equal grasp over English and Sanskrit language died on 24 May 2014. She was 92.

II.Born on 12 July 1921, she began her career as a lecturer in English at Lady Brabourne College in Kolkata. She joined Jadavpur University's Comparative Literature department and later shifted to the Sanskrit department.

Indian economy grew 4.7% in 2013-14: CSO

I.Indian economy grew 4.7 percent in 2013-14, lower than the advance estimate of 4.9 percent growth put out earlier this year by the Central Statistics Office.

II.The latest GDP growth estimate of 4.7 percent is however higher than the 4.5 percent GDP growth recorded in 2012-13.

III.For the fourth quarter ended March 2014, India's GDP grew 4.6 percent, higher than the 4.4 percent GDP growth recorded in same quarter last year, official data showed.

India signed loan agreement with World Bank for Sarva Shiksha Abhiyan III

I.Union Government of India and the World Bank on 29 May 2014 signed the Loan Agreement for World Bank (IDA) assistance of 1006.20 million US dollar for Sarva Shiksha Abhiyan III, the largest ongoing Education for All programme in the world. The assistance from the World Bank will be in form of Credit under IDA 16 at a concessional rate from the International Development Assistance (IDA).

II.The project is to be implemented in 3 years and the Union Ministry of Human Resource Development is the implementing agency.

III.On behalf of India the agreement was signed by Nilaya Mitash, the Joint Secretary, Department of Economic Affairs and Michael Haney, World Bank’s Operation’s Advisor in India signed it on behalf of the World Bank.

Raghav Bahl exits Network18

I.Network18 founder-promoter Raghav Bahl and his wife Ritu Kapur have exited their shareholding in Network18 and TV18, The Hindu Business Line reports. Mr. Bahl ended his role as an entrepreneur in the media companies as Mukesh Ambani’s Reliance Industries has taken control of them.

II. Ritu and I effectively ended our entrepreneurial leadership of N18 by agreeing to exit our shareholding,” The Hindu Business Line quoted from Mr. Bahl’s letter to employees of Network18.

Vishwanath Tripathi received Vyas Samman 2013

Vishwanath Tripathi, eminent Hindi writer on 29 May 2014 was awarded with the prestigious Vyas Samman for the year 2013. The literary prize carries a citation and a cash amount of 2.5 lakh rupees and memento. He received the award for his work Vyomkesh Darvesh at 23rd edition of the annual ceremony.

SEBI imposes Rs. 25 lakh fine on two brokers

I.Market regulator SEBI has levied a total penalty of Rs. 25 lakh on Svarn Financial Services and Sunflower Broking for violating regulations for stock brokers.

II.In an order, SEBI said that a fine of Rs. 15 lakh has been slapped on Svarn Financial Services for not settling the funds and securities of its clients for two quarters in 2011, had not removed period of revocation from ‘running account authorisation’ form even after NSE observations.

III.It had also made fixed monthly payments in form of interest to 10 clients for about 10 months after borrowing money from them. “Thus, noticee had indulged in a lending business, which is not within the stock broking business,” the SEBI order dated May 28 said.

IV.Though Svarn Financial Services had surrendered its membership with NSE, it did not “absolve” the broker from the violation and default committed by it during its operation, it said.

V.In a separate order, the SEBI imposed a penalty of Rs. 10 lakh on Sunflower Broking for delay in compliance with the regulator’s circular relating to running account authorisation and quarterly/ monthly settlement of funds and securities. “The noticee (Sunflower Broking) by not settling the client accounts at periodic intervals and delayed in implementing the SEBI circular has exhibited low standards of integrity and fairness in the conduct of its business,” the watchdog said in an order dated May 28.

Mercedes driver Nico Rosberg of Germany won Monaco Grand Prix of Formula One

I.Mercedes driver Nico Rosberg of Germany on 25 May 2014 won Monaco Grand Prix of Formula One. This was his second victory of the season and fifth of his career.

II.The Mercedes, with this win, finished at first and second position for the fifth straight time and has swept all six races this season.

PCB appoints Grant Luden as fielding coach, trainer

I.Pakistan Cricket Board (PCB) on Friday appointed former Bangladesh trainer Grant Luden as trainer and fielding coach of its national team.

II.The Pakistan management under PCB chairman Najam Sethi has undergone a major revamp after the side failed to qualify for the semi-finals of the World T20 in Bangladesh this year.

III.The South African-born Luden’s appointment comes after the hiring of head coach Waqar Younis, spin consultant Mushtaq Ahmed and batting coach Grant Flower.

IV.“Grant Luden has signed up with PCB as training/fielding coach,” Mr. Sethi said.

V.According to the Express Tribune, the PCB had decided to hire a fielding coach who could also double up as a trainer, which made Luden the favourite candidate.