GK Updates - 3 July | Banking Quiz

Facebook COO Sheryl Sandberg meets PM Modi

I.Facebook COO Sheryl Sandberg met Prime Minister Narendra Modi on Thursday and discussed ways in which the social networking platform can be used to connect the Government with people.

II.Had a very fruitful meeting with Sheryl Sandberg. She pointed out that India is a very important country for Facebook, considering the high number of active Facebook users in India," Modi wrote in a Facebook post after the meeting.

III."Being an avid user of social media myself, I talked about ways through which a platform such as Facebook can be used for governance and better interaction between the people and governments. I also talked about how Facebook can be used to bring more tourists to India." he said.

IV.Modi said that there was an intent to commemorate Mahatma Gandhi’s 150th birth anniversary year with a special focus on cleanliness and he spoke to Sandberg on how Facebook can assist in this endeavour.

V.During the meeting Sandberg expressed appreciation to Modi for making the education of girls and women a priority, as equal opportunity is essential for strengthening all economies and creating a just world.

CCEA approved inclusion of onion and potato under Essential Commodities Act, 1955

I.The Cabinet Committee on Economic Affairs (CCEA) on 2 July 2014 approved the inclusion of onion and potato under the purview of stock holding limits under the Essential Commodities Act 1955. The inclusion will remain in force for a year.

II.CCEA’s decision was taken after six states, Delhi, Chhattisgarh, Madhya Pradesh, Mizoram, Tripura and West Bengal requested the centre for such a measure.

III.With this inclusion, the State governments have been empowered to undertake de-hoarding operations of onion and potato based on local conditions, to control the prices. This de-hoarding operations include limits/licensing requirements and others.

IV.The decision will help in tackling the problem of price rise and improve availability of these commodities to general public especially vulnerable sections.

Japan now issuing multiple entry visas to Indians

I. Japan has started issuing multiple entry visa to Indians for short term stay from today, the Japanese Embassy here announced.

II.This decision was taken following the announcement by Prime Minister Shinzo Abe when he visited India this January that the Government of Japan would introduce multiple entry visas based on the recognition that the enhancement of people-to-people exchanges is important in order to further broaden relations between Japan and India, the Embassy said in a statement.

Indra Nooyi: Women cannot have it all

I.PepsiCo’s India-born CEO Indra Nooyi, counted among the world’s most powerful women, acknowledged that it is difficult to maintain a work-life balance and women cannot “have it all”, saying she doubts that her daughters think she was a good mother.

II.“I don’t think women can have it all. I just don’t think so. We pretend we have it all. We pretend we can have it all,” 58-year-old Nooyi said in frank remarks at the Aspen Ideas Festival in Colorado this week when asked if she feels whether women can have it all.

III.Nooyi, who is regularly ranked by Forbes and other publications as among the most powerful women in the world, said she has died “with guilt” several times as she tried to bring up her two daughters with her husband of 34 years.

IV.Nooyi recounted that she felt guilty for not being able to attend several activities at her daughters’ school as she could not take time off from work.

V.“...every day you have to make a decision about whether you are going to be a wife or a mother, in fact many times during the day you have to make those decisions. And you have to co-opt a lot of people to help you. We co-opted our families to help us. We plan our lives meticulously so we can be decent parents. But if you ask our daughters, I’m not sure they will say that I’ve been a good mom. I’m not sure. And I try all kinds of coping mechanisms,” she said.

VI.The times that Nooyi could not be there for her daughters, “I would die with guilt,” she said, adding that gradually she learnt to cope with the situation.

National Assembly of Pakistan approved Protection of Pakistan Bill 2014

I.National Assembly of Pakistan on 2 July 2014 approved Protection of Pakistan Bill 2014 amid military offensive against the Taliban in North Waziristan. This Bill will remain in force for two years.

II.The Protection of Pakistan Bill, 2014 seeks to provide for protection against waging of war against Pakistan and the prevention of acts threatening the security of Pakistan.

III.Earlier, the Bill was unanimously approved by the Senate or upper house on 30 June 2014.

Michelle Howard became first female four-star admiral in US Navy

I.Michelle Howard became the first female four-star admiral in US Navy. She is the first women admiral in 236 year old history of US Navy.

II.Vice-Admiral Michelle was promoted to the highest rank of four-star admiral at the Women in Military Service for America Memorial in US on 1 July 2014. The Promotion ceremony was presided over by Secretary of the Navy Ray Mabus.

III.Howard is perhaps best known for leading Task Force 151, which oversaw counter-piracy operations in the Gulf of Aden conducted in April 2009 to rescue captured Capitan Richard Phillips by Somali pirates.

Coffee-Table book titled First Citizen: Pranab Mukherjee in Rashtrapati Bhavan released

I.A coffee-table book titled First Citizen: Pranab Mukherjee in Rashtrapati Bhavan was released on 2 July 2014 at a function in Rashtrapati Bhavan, New Delhi. The book’s first copy was received by Pranab Mukherjee, the President of India.

II.The book has been published by The Week Magazine and was released by Dr. Karan Singh in the presence of Pranab Mukherjee and Philip Mathew, the Managing Editor of The Week.

III.The foreword of the book has been written by the President in which he has written about The Raisina Hill and the buildings in and around Rashtrapati Bhavan.

Modi to inaugurate train services to Vaishno Devi base camp on Friday

I.After a prolonged wait, pilgrims will be able to directly reach Katra, the base camp of Mata Vaishno Devi shrine, by rail after Prime Minister Narendra Modi flags off the first train from the station nestled in Trikuta Hills in Jammu and Kashmir’s Reasi district tomorrow.

II.The train for Jammu will chug along the newly constructed line from the Shri Mata Vaishno Devi Katra Station after Modi along with Railway Minister Sadananda Gowda waves the green flag.

III.The train will traverse through seven tunnels and over 30 small and large bridges. There will be a small station — Chakrakhwal — between Udhampur and Katra.

IV.The 25-km-long Udhampur-Katra line, which is being commissioned tomorrow after prolonged delays, has been built at an estimated cost of Rs. 1,132.75 crore.

V.Trains will be able to reach Katra directly as the 53-km Jammu-Udhampur rail line is already operational and now the Udhampur-Katra line, which is a part of the Kashmir rail link project, is being commissioned. This would enable pilgrims headed to the Vaishno Devi shrine to travel directly to the base camp at Katra.

GE Capital’s Anish Shah to join M&M

I.Mahindra & Mahindra Ltd (M&M) has appointed Anish Shah as President of Group Special Projects effective August 1. He will also be inducted into the Group Executive Board.

II.Shah joins M&M from General Electric (GE), where he was President and Chief Executive Officer for GE Capital India, since May 2009.

III.In this role, he led the transformation of the business, including a turnaround of the SBI Card joint venture, which has achieved significant growth and profitability.

Goa records highest growth in tourist charter arrivals

I.Goa Tourism has received around 1,128 charter flights which landed in the State during the peak season from October 2013 to May 2014, carrying a record number of 2.61 lakh passengers.

II.The corresponding figure for the previous year was 996 charter flights, carrying 2.15 lakh passengers. This amounts to 13.25 per cent increase in the arrival of charter flights on a year-on-year basis.

II.It is also the highest number of charter flights ever to arrive in the State. There was 21 per cent increase in the number of foreign tourists who arrived by charter flights in Goa, compared with the same time period last year.

IV.Goa has also received Boeing Dreamliner flights from the UK as charters, the Goa Tourism Board said in a statement.

Malaysian Minister visits Rubber Board

I.An official mission from Malaysia led by Datuk Amar Douglas Uggah Embas, Minister of Plantation Industries and Commodities, Government of Malaysia visited the Rubber Board to learn the activities of the Board in extension, research and other areas.

II.Sheela Thomas, Chairman, Rubber Board received them at Rubber Research Institute of India (RRII),

III.The mission was accompanied by Dato Henry Sum Agong (Member of Parliament, Malaysia), Datuk Naimun Ashakli Mohammad (High Commissioner of Malaysia in India), Salmiah Ahmad, Director General Malaysian Rubber Board and senior officials from the Ministry of Plantation Industries and Commodities and Malaysian Rubber Board.

IV.Sheela Thomas made a presentation about the NR scenario in India.

V.J Thomas, Rubber Production Commissioner; James Jacob, Director, RRII; C Kuruvilla Jacob, Director, Rubber Training Institute; N Rajagopal, Director, Processing & Product Development; MG Sathees Chandran, Dy Director, Publicity & Public Relations; Jome Jacob, Deputy Director, Statistics & Planning, among others participated in the discussions.

iGate gets MMA award for managerial excellence

Wabco India Ltd, a braking systems maker in the automobile industry, has bagged the Madras Management Association’s Award for Managerial Excellence in the manufacturing category, while iGate Global Solutions has won the award in the services category.

Pentagon notifies Congress of proposed missile sale to India

I.The Pentagon has notified the US Congress about its decision to sell anti-ship Harpoon missiles to India at an estimated cost of $200 million arguing that it will strengthen India-US strategic relationship and improve the security of an important partner.

II.The entire package under the foreign military sale route includes a dozen odd UGM-84L Harpoon Block II Encapsulated Missiles, 10 UTM-84L Harpoon Encapsulated Training missiles, and two Encapsulated Harpoon certification training vehicles, the Department of Defence’s Defence Security Cooperation Agency said.

III.“The estimated cost is $200 million,” it said adding that the Harpoon missile system will be employed on the Indian Navy’s Shishumar class submarine and will provide enhanced capabilities in defence of critical sea lines of communication.

IV.India has already purchased Harpoon missiles for integration on Indian Air Force Jaguar aircraft and Indian Navy P-8I maritime patrol aircraft.

V.India will have no difficulty absorbing these additional missiles into its armed forces, it said in its notification to the Congress.

China gives banks more freedom on exchange rates for clients

I.China allowed banks to set the exchange rate they offer customers between renminbi and the US dollar, a news report said on Thursday, in the latest loosening of the controlled rate.

II.The State Administration of Foreign Exchange said late Wednesday that banks can set their own rates for over-the-counter deals on the basis of market demand, Xinhua news agency reported.

III.The rate range for interbank trading is limited to 2 per cent on either side of a government—regulated parity rate. The band was set in March, at double the range of the previous restrictions.

SEBI chief meets Jaitley ahead of Budget

I.Chairman of Capital market regulator SEBI, U.K. Sinha, on Thursday held discussions with Finance Minister Arun Jaitley, days ahead of the Union Budget.

II.Details about the meeting could not be immediately ascertained.

III.The Securities and Exchange Board of India (SEBI) had earlier presented its wish list for the upcoming Union Budget.

IV.The watchdog has sought measures to further boost the country’s mutual fund market and changes in existing tax structure in the capital market, among others.

V.SEBI has been pressing that there is a need for uniform tax treatment of retirement related investments irrespective of the investment routes — pension products launched by mutual funds or the retirement funds managed by the government’s EPFO (Employees’ Provident Fund Office).

Lenskart.com launches ‘doctor locator’ feature

I.Online eyewear retailer Lenskart has partnered Lybrate.com to introduce a ‘doctor locator’ feature on its website.

II.Under the new new service, consumers will be able to book appointments with ophthalmologists in their vicinity conveniently, Lenskart said in a statement.

III.Lybrate.com offers a platform that provides patients with a ready list of trusted doctors in and around their location and enables them to book an appointment with a few click.

Narayan Ram appointed Lowe’s MD for India operations

I.NYSE-listed Lowe’s Companies has appointed Narayan Ram as managing director for India. He will report to Lowe’s Chief Financial Officer Robert F. Hull.

II.Ram joins Lowe’s from Sony, where he was the head of its global delivery centre for IT and Processes in India. He has more than 24 years of experience in Information Technology and Information Technology-enabled Services (ITES).

III.“Ram’s experience in building and leading a world-class service delivery team will help Lowe’s further its transformation to an omni-channel retailer with advanced Web search, mobile and social systems,” Hull said.

Adani Wilmar launches soya chunks under 'Fortune' brand

I.Ahmedabad-based Adani Wilmar Ltd, the country’s leading edible oil manufacturer and distributor, on Thursday launched soya chunks under the 'Fortune' brand.

II.The soya chunks are manufactured at its manufacturing facility in Vidisha in Madhya Pradesh.

III.“Today’s consumers are health and quality conscious. The last decade has seen a paradigm shift in consumption patterns from non-branded to branded food products,” Angshu Mallick, COO, Adani Wilmar, was quoted according to a release issued by the company.

IV.The soya chunks come in packets of 50 gms (`10), 90 gms (`15), 200 gms (`35) and one kg (`135).

Upendra Kamath to head Tamilnad Mercantile Bank

KB Nagendra Murthy, who took charge of Tamilnad Mercantile Bank (TNMB) in July 2012, demits office today. He is being succeeded by HS Upendra Kamath, who had served as the Chairman and Managing Director of Vijaya Bank.

Infosys ties up with SMART Enterprise

I.Software services major Infosys today announced a tie-up with the Philippines-based SMART Enterprise to develop new industry solutions in the areas of Machine to Machine (M2M) Communication and Internet of Everything (IoE).

II.These solutions are aimed at enabling organisations to listen, respond and make predictions based on machine-generated data.

III.Infosys and SMART will leverage their expertise in technology and intelligent communication to design industry solutions across areas like connected healthcare, retail, home security and connected cars, both the companies said in a statement.

IV.The collaboration will empower global businesses to nurture new growth avenues by harnessing technologies like Big Data, cloud, mobility and social media to draw insights from data collected from machines.

V.A Centre of Excellence (CoE) will be set up at SMART Enterprise, Philippines to serve as a collaborative forum to foster innovation and co-create new integrated solutions in the M2M and IoE space, it said.

Indian Bank revises interest rates on FCNR (B) deposits

I.State-run Indian Bank has revised the interest rates on foreign currency non-resident (banking) deposits with immediate effect.

II.The Chennai-based bank has revised the interest rates on FCNR (B) deposits for one year and above but less than two years to 2.55 per cent as compared to the existing 2.53 per cent.

III.For deposits of two years and above but less than three years, the interest rates have been revised to 2.58 per cent from the existing 2.52 per cent, the bank said in a statement.

IV.For deposits of three years and above but less than four years, the interest rates have been revised to 3.51 per cent from 3.91 per cent at present, it said.

V.Also, for deposits of four years and above but less than five years, the interest rates have been fixed at 3.89 per cent from the existing 4.29 per cent.

Michelle Howard became first female four-star admiral in US Navy

I. Michelle Howard became the first female four-star admiral in US Navy. She is the first women admiral in 236 year old history of US Navy.

II. Vice-Admiral Michelle was promoted to the highest rank of four-star admiral at the Women in Military Service for America Memorial in US on 1 July 2014. The Promotion ceremony was presided over by Secretary of the Navy Ray Mabus.

III. Howard is perhaps best known for leading Task Force 151, which oversaw counter-piracy operations in the Gulf of Aden conducted in April 2009 to rescue captured Capitan Richard Phillips by Somali pirates.

Asian Development Bank clears $350 million funding for 2 projects in India

I. Asian Development Bank has made financial commitment of USD 350 million in loan and equity investment for two energy projects in India.

II. "The ADB has approved a multi-tranche loan facility of USD 300 million to help India's Assam state continue its drive to eliminate power sector inefficiencies that are hurting consumers and the economy," the multilateral lending agency said in release today.

III. In an equity investment of USD 50 million in a renewable energy company ReNew Power Ventures Private Ltd, it would help India meet clean energy targets.

IV. "The ADB has made an equity investment of USD 50 million in a leading Indian renewable energy company ReNew Power Ventures Private Limited, underscoring ADB's commitment to help India meet its clean energy targets," it said in a separate release.

V. The three tranches USD 300 million loan facility will fund generation and distribution upgrades as well as contribution of a 120-megawatt hydro power plant.

Sardar Singh to lead India in Commonwealth Games

I.There were few surprises as Hockey India (HI) selected a 16-member side, led by Sardar Singh, for the 2014 Commonwealth Games that would be held in Glasgow, July 23-Aug 3.

II.Most the players of the squad, that finished ninth in the Hockey World Cup, barring goalkeeper Harjot Singh, midfielders S.K Uthappa, Jasjit Singh and forward Mandeep Singh.

III.The two new players in the Commonwealth Games side are midfielder Danish Mujtaba and forward Gurwinder Singh Chandi. While Sardar will be leading the side Sreejesh will be his deputy.

IV.The 16-member team was selected by HI selectors B P Govinda, Harbinder Singh, R.P. Singh and Arjun Halappa along with director high performance Roelant Oltmans and chief coach Terry Walsh on the basis of their performance during the selection trials conducted here at the National Stadium.

V.Sardar, Sreejesh, Danish, Chandi and Gurbaj Singh are the five players who were a part of the side that was humiliated 0-8 by Australia in the final of the 2010 Commonwealth Games here at the National Stadium.