GK Updates - 24 June | Banking Quiz

Govt to cover 90% villages with piped-water connection by 2022: Official

I.Only 45 per cent of villages in India have piped-water connections and 18 per cent rural homes have dedicated water supply, Sujoy Mojumdar, Director, Ministry of Drinking Water and Sanitation, said.

II.According to him, the Centre is looking to shore up coverage to 90 per cent in case of piped water connection and around 80 per cent in rural areas by the year 2022.

III.“This would entail an investment of at least ₹ 300,000 crore by the Centre,” he told reporters on the sidelines of an event organised by FICCI (Federation of Indian Chambers of Commerce and Industry).

IV.While the Centre will invest ₹ 68,000 crore, States will put in a matching amount of ₹ 68,000 crore during the existing Five-Year Plan Period ending 2017.

AP Grameena Vikas Bank bags Skoch Group award

I.Andhra Pradesh Grameena Vikas Bank (APGVB) has won the Platinum Award for 'excellence'’ in banking awarded by Skoch Group, New Delhi.

II.K Lakshmana Rao, Chairman of APGVB, has received the award from Sri Vinod Rai, former CAG, and Sameer Kochar, Chairman, Skoch Group, at a function last week.

III.Skoch Financial Sector Awards, instituted by Skoch Consultancy Services, seek to recognise people, projects and institutions that have made significant contributions to the cause of financial inclusion and financial deepening, among others.

UN award for govt’s Mobile Seva initiative

I. An initiative conceptualised by Indian government’s Department of Electronics and Information Technology to enable delivery of public services electronically through the mobile platform has been awarded a United Nations public service award.

II. Mobile Seva, a nationwide initiative conceptualised, funded and implemented by the Department of Electronics and Information Technology (DeitY), is among the second-place winners of the 2014 UN Public Service Awards, along with Bahrain, Brazil, Cameroon, Republic of Korea and Spain.

III. The vision of Mobile Seva is to mainstream mobile governance in India as a new paradigm for e-delivery of public services through mobile devices. It leverages the massive penetration of mobile phones in India to substantially enhance access to electronic services, especially in the rural areas.

IV. The main objectives of the initiative are to be a one-stop solution for all mobile-based public service delivery needs through mobile-based channels, including SMS, voice/Integrated Voice Response System and mobile applications, a statement said.

Note: I. The first place winners are Austria, Bahrain, Brazil, Morocco, Oman, Republic of Korea, Singapore, South Africa, Thailand, Turkey, Uruguay.

II. Winners from 14 countries will be honoured for their innovative projects in fighting poverty and promoting sustainable development at a ceremony on June 26 in Seoul.

Coca Cola's school project in W Bengal gains momentum

I.Coca Cola India’s ‘Support My School’ campaign on Tuesday dedicated 24 revitalised schools in West Bengal at an event at Kheadaha High School in Sonarpur, 25 km south off the city. The initiative impacts more than 10,000 students in West Bengal.

II.The campaign will complete 10 more schools by the end of the year in the State.

III.The initiative is to build healthy and active schools for students in rural and semi-urban areas with basic amenities such as separate toilets for boys and girls, improved access to safe drinking water, amongst others. The campaign has reached 20 States and over 350 schools across India.

IV.Coca Cola in a release said that the campaign was begun as a response to several studies which indicated that a large number of schools in rural and semi-urban areas lacked basic amenities leading to accelerated student drop-out rates. The campaign has been creating awareness about the conditions of schools in these areas, fostering a private-public partnership where corporate organisations step in to reinstall basic facilities in these Government-run schools.

SEBI revamps secondary market advisory committee

I.The Securities and Exchange Board of India has reorganised the committee that advises it on matters related to secondary market, including suggesting steps to improve market safety, efficiency and transparency.

II.The capital market regulator has listed the revamped expert panel.

III.The Secondary Market Advisory Committee is chaired by IIM Ahmedabad Professor and former whole-time member of SEBI, Jayanth R Varma.

IV.Besides Varma, the expert panel consists of 17 members, including top executives of nation’s leading bourses — NSE, BSE and MCX-SX — as well as government representatives.

V.Members of the committee include BSE’s Ashish Kumar Chauhan, NSE’s Chitra Ramakrishna, and MCX-SX’ Saurabh Sarkar. All of them are Managing Directors and CEOs of their respective stock exchanges.

General Budget to be presented on 10th July & Rail Budget on 8th

I. The Budget session of Parliament will begin from 7th of the next month. The session spread over five weeks will come to end on 14th of August.

II. The decision was taken at a meeting of Cabinet Committee on Parliamentary Affairs chaired by Home Minister Rajnath Singh in New Delhi this morning.

III. Official sources said in New Delhi that the General Budget will be presented on 10th and Rail Budget on 8th. The sources said, Economic Survey will be tabled on 9th of July.

Import ban on milk items from China extended till June 2015

I. The government has again extended the ban on imports of milk and its products from China for one more year till June 2015.

II. “Prohibition on import of milk and milk products (including chocolates and chocolate products and candies/ confectionery/ food preparations with milk or milk solids as an ingredient) from China is extended for one more year, i.e., till 23.6.2015 or until further orders, whichever is earlier,” Directorate General of Foreign Trade (DGFT) said in a notification.

III. The ban, which expired on June 23, is extended every year.

IV. India had first imposed the ban in September 2008 due to presence of melamine, used for making plastics and fertiliser.

V. India, however, does not import milk products from China, but as a preventive measure, it has imposed the ban.

BRT system will save 27,000 lives in India: World Bank

I. World Bank President Jim Young Kim has said India can save more than 27,000 lives and create over 128,000 jobs if it builds 1,000 kilometres of new bus rapid transit (BRT) lanes in the next 20 years.

II. “If India built 1,000 kilometres of new, bus rapid transit lanes, over 20 years, that could save more than 27,000 lives by reducing air pollution and accidents and create more than 128,000 jobs,” Jim Young Kim said.

III. Speaking at the release of a report “Climate-Smart Development”, according to which $3-4 billion is needed to develop 1,000 km of BRT corridors in about 20 cities across India within 6-12 years, Mr. Jim said India could also reduce “greenhouse gas emissions by about 42 million tons”.

IV. The analysis estimates that investment of $3-4 billion would be needed to develop 1,000 km of BRT corridors in about 20 cities across India within 6-12 years, the bank said.

Manmohan Handa is new director of BEL Bangalore Complex

I.Manmohan Handa has taken charge as Director - Bangalore Complex of Defence PSU Bharat Electronics Limited.

II.He was general manager of BEL’s Missile Systems Strategic Business Unit before the elevation.

III.Handa joined BEL’s Bangalore Unit in 1978 after completing BE (Mechanical) from Regional Engineering College, Kurukshetra (Haryana). He served as Additional General Manager (Systems) and Additional General Manager (Antenna) at BEL-Ghaziabad from 2004-2008, before taking charge as GM of BEL’s Navi Mumbai Unit in 2008.

IV.After a two-year stint, he was posted at BEL-Bangalore as GM (Export Manufacturing) in 2010. In 2013, he took charge as GM (Missile Systems).

Gujarat ranks 5th in investments attracted by manufacturing sector: Assocham

I. With about nine per cent share in total investments attracted by the manufacturing sector in the country as on March 31, 2013, Gujarat ranked fifth among other states.

II. This, according to the trade body, Associated Chambers of Commerce and Industry of India (Assocham), indicated the state’s emergence as a prominent manufacturing investment hub.

III. Out of the total outstanding investments worth over Rs. 122 lakh crore attracted by various sectors across the country as of March 2013, manufacturing accounted for a about 25 per cent share with over Rs. 30 lakh crore worth of investments.

State-wise details

“Odisha accounted for the highest share of over 18 per cent in total investments attracted by the manufacturing sector across India as of March 2013 followed by Karnataka (over 14 per cent share), Jharkhand (over 13 per cent share), Andhra Pradesh (about 10 per cent share) and Gujarat (over nine per cent share) amid top five states with maximum share in investments attracted by manufacturing sector,” said D.S. Rawat, national secretary general, Assocham.

SunTec wins TM Forum’s Catalyst Award

I.TM Forum, a global trade association representing the digital economy, has announced one of its Catalyst awards to Thiruvanathapuram-based SunTec Business Solutions.

II.The Catalyst Award winners were announced at the TM Forum Live! at Nice, France, a SunTec spokesman said.

III.The award recognised ‘the most effective implementation of TM Forum Frameworx, a set of technical specifications to help communications service providers manage their business.

IV.SunTec was feted for the ‘greatest adoption of Fameworx’ as part of a project for managing the network functions virtualisation ecosystem.

V.Network functions virtualisation represents a core structural change in the way telecommunication infrastructure gets deployed.

Infosys appoints new PR agency

I.Infosys has appointed Adfactors PR as its new PR partner.

II."Based on our strategic priorities for effective communication management, we have decided to re-evaluate our agency partnerships and in light of this, we have appointed Adfactors PR as our new PR partner,'' an Infosys spokesperson said in a statement.

Delhi University Vice-Chancellor resigns

I. Delhi University Vice-Chancellor Dinesh Singh tendered his resignation on Tuesday afternoon, according to news reports.

II. His resignation will go to the Vice President of India, who is also the Chancellor of the varsity.

III. On Monday, after the day-long confusion and chaos due to the ongoing tussle between the University Grants Commission (UGC) and Delhi University (DU) over the four-year undergraduate programme (FYUP), admissions to colleges for this academic session had been deferred.

Air India joins Star Alliance

I. In a significant move, Air India has formally become part of the global airlines’ grouping, Star Alliance, which would enable seamless travel to over 1,300 destinations for the national carrier’s passengers.

II. Ending a seven-year-long wait, the Star Alliance Chief Executive Board (CEB), at its meeting in London on Monday, gave an endorsement vote to induct Air India into the fold.

III. “We are happy to note that Air India has become part of the Star Alliance. This is one of the biggest alliances in the world”, Civil Aviation Minister Ashok Gajapathi Raju told reporters here on Tuesday.

IV.. Air India’s revenues may increase by 4-5 per cent by joining the Alliance, he said. With this, Air India becomes the first Indian carrier to join a global alliance, the largest one now having 27 member airlines in its fold.

Ratan Tata received honorary doctorate from York University

I. Former TATA Group Chairman Ratan Tata on 21 June 2014 received an honorary doctor of laws degree from York University in Toronto, Canada. The award was given for his achievements in promoting innovations, exemplary leadership and corporate social responsibility.

II. The honour was conferred at the 2014 spring convocation of York University's Schulich School of Business by Chancellor of the varsity Gregory Sorbara.

III. The chancellor of the University Gregory Sorbara praised Ratan Tata for making his companies a Global Power and described him as a Great Architect of Modern India.

Jitu Rai became first Indian shooter to win three medals in successive ISSF Shooting World C

I. Jitu Rai on 19 June 2014 became the first Indian to win three medals in successive ISSF Shooting World Cup.

II. Also, by winning his first-ever Gold medal and One Silver at the ongoing ISSF World Cup in Maribor, Slovenia, he became the first Indian shooter to win two medals at the same World Cup.

III. He won Gold medal with 200.8 points on 19 June 2014. The Silver medal was won by Spain’s Pablo Carrera and the Bronze medal was won by Russia’s Anton Gourianov.

Myanmar’s first site, Ancient Pyu Cities, inscribed on the UNESCO World Heritage List

I. Ancient Pyu Cities on 22 June 2014 became the first site from Myanmar to be inscribed on the UNESCO’s World Heritage Site List. The Ancient Pyu Cities include three cities Halin, Beikthano and Sri Ksetra.

II. The decision to include Myanmar’s first site on World Heritage list was taken at the 38th session of the World Heritage Committee held in Doha, Qatar.

III. Three cities Halin, Beikthano and Sri Ksetra are located in Burma’s central Dry Zone and featured the walled remains of sites built by the Pyu dynasty.

About Ancient cities

I. The Cities are located in vast irrigated landscapes in the dry zone of the Ayeyarwady (Irrawaddy) River basin. The three cities are partly excavated archaeological sites.

II. Remains include excavated palace citadels, burial grounds and early industrial production sites, as well as monumental brick Buddhist stupas, partly standing walls and water management features – some still in use - that underpinned the organized intensive agriculture.

UK firm honours Sachin Tendulkar with rare coin

I. Britain's premium luxury goods brand East India Company has issued an exclusive legal tender gold coin worth 12,000 pound sterling in honour of Indian cricket legend Sachin Tendulkar.

II. The rare coin has been issued in honour of Tendulkar's remarkable career spanning 24 years.

III. "Only 210 gold coins, each weighing precisely 200g, are being issued to pay tribute to Tendulkar at a global level. Only very few will ever see this coin in the flesh, making them exceptionally rare and precious amongst thousands of fans who yearn to own a piece of the superstar's legacy," the London-based firm said in a statement.

IV. The issue of a 'legal tender' coin is an official mark of distinction given to individuals who have accomplished great achievements in human history.

V. The design of the coin has been handcrafted in great detail by one of the world's most renowned coin designers Joaquin Jimenez, currently the Chief Engraver at Monnaie de Paris.

VI. The canvas of the coin shows the latitude lines of the globe modelled in cricket stitching to represent the international stage of cricket.

VII. The Gateway of India features to denote Tendulkar's home city of Mumbai, where he started and completed his illustrious career.

Youngsters may get an earning opportunity as ATM keepers

I.Andhra Bank plans to rope in individuals and business persons for cost-effective and efficient management of its ATMs.

II.Unemployed graduates and other willing individuals will be asked to keep a watch on ATMs as a substitute to private security personnel who now man these counters.

III.“The maintenance cost of ATMs for providing round-the clock security comes approximately to ₹45,000/month which is quite high,” CVR Rajendran, Chairman and Managing Director, Andhra Bank, told Business Line. It may be recalled that after the attack on a woman customer in Bangalore some time back, banks were asked to provide round-the-clock security at ATMs.

IV.The proposal of the bank to hire ATM keepers would be beneficial in many ways, the CMD says. “People complain that banks are shutting down ATMs in remote areas to save on costs. If a person is hired from the locality, he would be attending any time for remuneration lesser than the security expenses,” he said.

V.These ‘keepers’ could also double up as business correspondents who can accept deposits and dispense money with the aid of a smart device, Rajendran said. Andhra Bank is currently implementing the idea with a pilot for 25 ATMs.

VI.The move assumes significance given the fact that the use of alternate channels such as ATMs has been on a steady rise in the banking industry though the percentage varies from bank to bank. For some, it is almost 50 per cent.

N Srinivasan unanimously elected as chief of TNCA

I. BCCI's president-in-exile N Srinivasan, was today unanimously elected as the chief of the Tamil Nadu Cricket Association (TNCA) for the 14th consecutive year.

II. As has been the case for over 10 years, all the sitting office bearers and executive committee members were elected unopposed during the 84th annual general body meeting of the TNCA.