GK Updates - 8 May | Banking Quiz

Delhi most polluted city in the world : WHO

i.Delhi is the most polluted city in the world, says a study released by World Health Organisation (WHO) on Wednesday.

ii.The 2014 report of the Ambient Air Pollution (AAP) database contains results of outdoor air pollution monitoring from almost 1600 cities in 91 countries.

iii.The national capital has the highest concentration of PM2.5 — particulate matters less than 2.5 microns– form of air pollution, which is considered most serious and can cause respiratory diseases and other health problems.

iv.The situation is so bad in Delhi that its air has PM2.5 concentrations of 153 micrograms and PM10 concentrations of 286 micrograms–much more than the permissible limits, says the WHO.

v.In comparison, Beijing, which was once considered one of the most polluted cities, has PM2.5 concentration of 56 micrograms and PM10 concentration of 121 micro grammes.

vi.Air quality is represented by annual mean concentration of fine particulate matter (PM10 and PM2.5,– particles smaller than 10 or 2.5 microns).

viiThe database covers the period from 2008 to 2013, with the majority of values for the years 2011 and 2012.

Viii.Reacting to the report, Anumita Roychowdhury of the Centre for Science and Environment (CSE) said the new WHO data base only confirms the health concerns in India.

IAA Receives International Arch of Europe Award

i.Indian Aviation Academy (IAA) has been selected this year by the Business Initiative Directives Group (BIDG), Madrid (Spain) for the International Arch of Europe Award for quality and technology in Gold Category.

ii.The award was received by Mr. Rajiv Goel, Director, IAA from Mr. Jose E. Prieto, President & CEO, BID Group at a function held in Frankfurt, Germany Later, the award was presented to Mr. Alok Sinha, Chairman, Airports Authority of India .

iii.The Academy has been set up for training and development by pooling resources of the three mainstay organizations of civil aviation namely, Airports Authority of India, Directorate General of Civil Aviation and Bureau of Civil Aviation Security.

iv.It conducts training in airport management, maintenance, airport safety and regulations, HR discipline, etc. The Academy has collaboration with several international agencies such as ICAO, IATA, ACI, FAA, European Union and CATC, Thailand.

Book entitled A Stamp Is Born authored by C. R. Pakrashi released

i.A book entitled A Stamp is Born authored by C. R. Pakrashi was released on 6 May 2014 by Vice President of India, M Hamid Ansari. The book gives a graphic account of history and evolution of postage stamps.

ii.The author Pakrashi, who is also a renowned Stamp designer in the book, has described his first-hand experiences with all stages of production of the stamp right from conception to final execution and printing. The book includes 56 commemorative stamps.

Coca-Cola to remove BVO from drinks

i.Coca-Cola on 5 May 2014 announced that it will remove Brominated Vegetable Oil (BVO) from drinks by the end of 2014. BVO is an element that is found in Flame retardants.

ii.The ingredient has been patented as a flame retardant and it is not approved for use in Japan and the European Union.

iii.BVO will be replaced with sucrose acetate isobutyrate and glycerol ester of rosin. The particular ingredients are already being used in drinks and chewing gum.

Mark Selby won World Snooker Championship 2014

i.Mark Selby of England won the World Snooker Championship 2014 in Sheffield, England on 6 May 2014. He won the title against the defending champion Ronnie O Sullivan with 18-14 in the final. This is his first World title and he was runner-up in 2007. With this win he was ranked world no 1 in the Snooker.

ii.Mark Selby, 30, won cash prize of 300000 pounds and he is the ninth player to win Triple Crown (World Championship, the Masters and UK Championship).

iii.Earlier he won three Master titles (2008, 2010 and 2013) and a UK Championship in 2012.

iv.The other titles include the Welsh Open in 2008 and the Shanghai Masters in 2011.

ONGC to create post of Director (Non-E&P)

i.Aiming to invest Rs 30,000 crore in non-core businesses like oil refining and LNG terminals, state-owned Oil and Natural Gas Corp (ONGC) will create a director-level post on the company board to deal with subject.

ii.ONGC besides maintaining its leadership position in producing oil and gas in the country, has been investing selectively in non-E&P (exploration and production) business to triple its profit by 2030.

iii.Non-E&P business is projected to give 30 per cent of the company’s revenue by 2030 and the company feels this needs senior management attention and drive. With this background in mind, ONGC is creating a post of Director (Non-E&P), company sources said.

Ashok Sethi appointed Tata Power ED

i.Tata Power has appointed Ashok S Sethi as Executive Director of the company.

ii.The appointment is with immediate effect for the period up to March 31, 2017, says a company press release.

iii.Sethi, a B Tech from IIT, Kharagpur, was Chief-Corporate Operations Management and Executive Director of Maithon Power Ltd, a subsidiary of Tata Power.

New CGM for SBI Chennai circle

PS Prakash Rao has assumed charge as the Chief General Manager of State Bank of India, Chennai Circle . He was earlier General Manager of its Chandigarh Circle. According to a press release, Rao joined the bank in 1982 and has wide experience in all facets of banking operations including credit, international banking and private equity.

SBI, Tata trust in tie-up

State Bank of India and Sir Dorabji Tata Trust & The Allied Trusts have entered into a memorandum of understanding (MoU) for poverty alleviation and rural development in a sustainable way. In terms of the MoU, Tata Trusts will provide training and capacity building, identify partner organizations such as farmer producer companies and self help groups and provide implementation and technical support to make them sustainable. The Bank said in a statement that it would take care of the need-based credit support by providing working capital.

Pranab launches Rupay, India’s own card payment network

i.President Pranab Mukherjee on Thursday dedicated to the nation indigenous card payment network called RuPay taking on the global players like Visa and MasterCard.

ii.The new payment network developed by the National Payments Corporation of India (NPCI), a not-for-profit company envisioned by the Reserve Bank of India (RBI) and created by the banking industry, covers all the automated teller machines (ATMs) and most of the retail and e-commerce platforms.

iii.RuPay is the coinage of two terms Rupee and Payment.

iv.“Dedication of RuPay to the nation is symbolic of the maturity of the payment system development in India,” Mukherjee said after formally launching the card at a function at Rashtrapati Bhavan.

44 Indians shortlisted for one-way trip to Mars

i.Forty-four Indians, including 17 women, are among 705 aspirants shortlisted for an ambitious private mission to send four people on a planned one-way trip to Mars in 2024 to colonize the red planet.

ii.The Netherlands-based non-profit organisation Mars One announced that 353 hopefuls from around the world have been eliminated from the selection programme to become the first human Mars colonists.

iii.The number of people remaining in this "once in many lifetimes opportunity" is now just 705, including 44 Indians of whom 27 are men and 17 are women.

iv.The Indian aspirants come from cities such as New Delhi, Hyderabad, Mumbai, Kolkata, Pune and Thiruvanathapuram.

v.The applicants came from over 140 countries and more than 20,000 Indians had applied for the first round.

vi.The remaining candidates will be interviewed by the Mars One selection committee.

Tata-AirAsia gets licence from DGCA

i.Indian flyers are soon going to be spoilt for choice and low fares may make a comeback. The Tata Sons' JV budget airline with Malaysia's AirAsia got the licence to fly from the directorate general of civil aviation (DGCA) on Wednesday. This clearance, however, is subject to the judicial ruling in this regard as BJP leader Subramanian Swamy has moved court against forming startup airlines using FDI from foreign airlines route.

ii.The JV, AirAsia India Pvt Ltd (AAIPL), will be India's seventh airline and aims to start flying anywhere between one to three months from now. Its CEO Mittu Chandilya says the new low-cost carrier will offer "35% lower fares" from current fare levels.

India home to 54 of world's largest, most powerful public companies: Forbes magazine

i.Mukesh Ambani-led Reliance Industries leads the pack of 54 Indian companies in Forbes' annual list of the world's 2000 largest and most powerful public companies, with Chinese companies occupying the top three slots on the list.

ii.The Forbes 'Global 2000' is a comprehensive list of the world's largest, most powerful public companies, as measured by revenues, profits, assets and market value.

iii.China is home to the world's top three biggest public companies and five of the top 10.

Prepayment penalty ban only for individual borrowers, says RBI

i.The Reserve Bank of India (RBI) on Wednesday clarified that its directive regarding a ban on prepayment penalty on floating rate loans was applicable only for individual borrowers, indicating it wasn't for corporate clients.

ii.“It is advised that banks will not be permitted to charge foreclosure charges/ pre-payment penalties on all floating rate term loans sanctioned to individual borrowers, with immediate effect,” the banking regulator said.

India has huge potential to attract FDI from Europe: Report

i.European companies invested $198 billion in India between 2004 and 2013 and there is huge potential to boost this investment flow, the Europe India Chamber of Commerce (EICC) Wednesday said in a report.

ii.The Indian economy has greatly benefited in the process. FDI from the EU has boosted India's export competitiveness, generated employment, strengthened the skills base, enhanced technological capabilities and increased financial resources for development, the report said.

Bajaj Allianz launches 'Pension Guarantee' plan

i.Bajaj Allianz Life Insurance has launched a non-linked immediate annuity plan called Pension Guarantee. Apart from providing a guaranteed income for one’s life-time, this immediate annuity plan has the options to extend annuity (pension) to the spouse too.

ii.While the minimum entry age for the policy is set at 37 years, maximum eligible age is 80 years.

iii.Available in six options, the plan gives provisions for payment of annuity to the spouse of the annuitant after his demise (either 50 per cent or 100 per cent annuity depending on the Joint Life Last Survivor options chosen).

D. Mahadevaiah appointed NMPT traffic manager

i.The Union Shipping Ministry has appointed D. Mahadevaiah as Traffic Manager of New Mangalore Port Trust (NMPT). He had assumed charged on May 6.

ii.A press statement by NMPT said here that Mahadevaiah has served in various capacities in the traffic department of NMPT for more than 30 years.

iii.He was closely associated with the introduction of container traffic and biometric attendance system for labour booking. He holds a postgraduate in political science from Mysore University, the statement said.

Nokia, NTT Docomo to research jointly on 5G technologies

i.Finnish telecom giant Nokia and Japan's NTT Docomo are to work jointly on research in fifth generation (5G) technologies.

ii."Nokia and NTT Docomo have agreed to collaborate on research and standardisation of 5G technologies and to work jointly on a 5G proof of concept (PoC) system," Networks or NSN, the network devision of Nokia said in a statement today.

iii.The company said this move builds on the memorandum of understanding (MoU) signed by the two companies in January 2014.

India to defend Vodafone arbitration notice in tax dispute: P Chidambaram

i.The Indian government will defend a notice for arbitration from Vodafone Group Plc in a more than $2 billion tax dispute, Finance Minister P. Chidambaram said on Thursday.

ii.Vodafone said on Wednesday it had filed for an international arbitration against the Indian government, after the two sides failed to find a solution to the long-running tax dispute through talks.

Jignesh Shah arrested in NSEL scam

i.Jignesh Shah, former director of the scam-ridden National Spot Exchange Limited (NSEL), was arrested by the Mumbai police on Wednesday in connection with the nearly Rs.5,600-crore payment crisis.

ii.The Economic Offences Wing (EOW) of the Mumbai police also arrested the Chief Financial Officer of Financial Technologies India Ltd. (FTIL), Srikant Javlekar. FTIL owns NSEL.

iii.On September 30, an investor had filed an FIR against the directors and key functionaries of NSEL for cheating, forgery, criminal breach of trust and conspiracy. The FIR alleged that the accused hatched a criminal conspiracy to defraud the investors and misrepresented that they were investors and induced them to trade on the platform of NSEL by creating forged documents such as bogus warehouse receipts, thereby, defrauding the clients.

Switzerland among 47 nations to agree on tax data exchange

i.In another step towards shedding banking secrecy practices, 47 nations including Switzerland and India, have agreed upon automatic exchange of information on tax matters.

ii.The endorsement of the ‘Declaration on Automatic Exchange of Information in Tax Matters’ by 47 countries under the aegis of OECD on Tuesday will come as a boost for India, which is stepping up pressure on Switzerland to share details on alleged illicit funds stashed away by Indians there.

iii.The Organisation for Economic Cooperation and Development (OECD), the global body that frames economic policies and conventions against tax frauds, said the latest declaration commits countries to implement a new single global standard on automatic exchange of information.

Nigeria: Fresh Boko Haram massacre kills hundreds

i.A new Boko Haram massacre has killed hundreds in Nigeria's northeast, a senator said Wednesday, as police offered $300,000 dollars for information leading to the rescue of more than 200 schoolgirls held hostage by the Islamists.

ii.The latest insurgent attack targeted the town of Gamboru Ngala on the border with Cameroon, where gunmen this week razed scores of buildings and fired on civilians as they tried to flee.

iii.Area Senator Ahmed Zanna put the death toll at 300, citing information provided by locals, in an account supported by numerous residents.

iv.Zanna said the town had been left unguarded because the soldiers based there had been redeployed north towards Lake Chad in an effort to rescue more than 200 girls kidnapped by Boko Haram on April 14.

v.The shocking mass abduction has sparked global outrage and offers of help from the United States, Britain, France and China.

Virat Kohli ranked no 1 in ICC One Day International rankings

i.Virat Kohli was ranked no 1 in ICC list of One Day International (ODI) rankings released in Dubai on 4 May 2014. He remained on the top rank in batsmen list with 881 points and is followed by the AB de Villiers with 872 points.

Ii.The other two Indians under top 10 list are Indian captain Mahendra Singh Dhoni and Shikhar Dhawan.

iii.Jadeja remained at fifth position with 676 points and Ravichandran Ashwin (rank 14) in the bowling list. Jadeja is ranked fourth in the list of the all-rounder.