GK Eduwrap – 13th May 2015


1. Moody’s, the US research analytics firm released the quarterly Global Macro Outlook: 2015-16 report.

According to the report:
-> Stronger US dollar and shifts in capital flows will widen the gap between global economies in 2015-16.
-> The divergence will be between those economies that have built up resilience, like the US and India, and those that are vulnerable to negative shocks, like Brazil, South Africa and Turkey.
-> Moody’s forecasts US GDP growth of 2.8% in both 2015 and 2016.
-> The weaker euro and lower oil prices is forecast to give a boost to the euro area economy, with GDP growth of around 1.5 percent in both 2015 and 2016.
-> Moody’s maintains its forecast that GDP growth will slow to 6.8% in 2015 and 6.5% in 2016, from 7.4% in 2014.
-> India’s GDP will grow at a strong pace of 7.5% in 2015-16, which is the highest among G20 economies, helped by the reforms drive and lower oil prices. Moody’s forecasts that, the Make-in-India campaign will give a boost to domestic manufacturing and other reforms measures would bring in higher investment and boost growth.

2. Pablo Picasso’s painting Les Femme d’Alger (Version O) sold for 179.3 million US dollars during an auction at Christie’s in New York. With this sale, this painting became the most expensive painting to be sold at an auction. Les Femme d’Alger, a 1955 painting known in English as The Women of Algiers had a pre-auction estimate of 140 million US dollars.


1. Hyderabad will host the four-day Indo-Global Pharma Expo and Summit 2015 that is scheduled to be held on 24 July 2015. The theme of Indo-Global Pharma Expo and Summit 2015 will be Innovation and Advances.

2. President Pranab Mukherjee authorized Justice (retd) Cyriac Joseph to act as the interim chairperson of the National Human Rights Commission (NHRC).

3. The number of Asiatic lions in Gir sanctuary of Gujarat increased to 523, according to 2015 Lion census report released in the first week of May 2015. This 14th lion census registered 27% increase in the number of Asiatic lions compared to 2010 census which had registered 411 Asiatic lions.

4. Narendra Modi launched Pradhan Mantri Suraksha Bima Yojana (PMSBY) in Kolkata, West Bengal. It is an Accident Insurance Scheme (AIS) offering death and disability cover on account of an accident. It provides for the risk coverage of 2 lakh rupees for accidental death and full disability and 1 lakh rupees for partial disability due to an accident. It is available to people in the age group of 18 to 70 years having a savings bank account.

5. Telangana Government has inked a Memorandum of understanding (MoU) with tech giant Google Inc to build biggest campus outside US in Hyderabad. The MoU was signed between Telangana Secretary of IT Jayesh Ranjan and his counterpart David Redcliffe, Google’s global head of facilities and workplace in Google headquarters at Mountain View in USA.

6. Daniel Mookhey has become first Indian-origin Member of Parliament (MP) from the Australian state of New South Wales to be sworn in to Australian parliament on the Hindu religious text, the Bhagavadgita.

7. Union government has announced that, the current immunisation rate in rural areas is around 58% while it is over 67% in urban regions of the country.

8. Uttar Pradesh Government has launched Samajwadi water ATM scheme at bus stations. The scheme was launched by Uttar Pradesh Chief Minister Akhilesh Yadav. It seeks to provide potable water to bus passengers at reasonable price.

9. Tech giant IBM has chosen Surat, Allahabad and Vizag among 16 global locations for its smart cities programme to help them address challenges like waste management, disaster management and citizen services.

10. President Pranab Mukherjee appointed Governors in six states. Following are newly appointed Governors:

Jharkhand: Former Odisha Minister Droupadi Murmu was appointed as Governor of Jharkhand. She will replace Dr Syed Ahmed.
Manipur: Dr Syed Ahmed has been transfered to Manipur for remaining period of his term.
Arunachal Pradesh: J P Rajkhowa was appointed as Governor of Arunachal Pradesh. He will replace Lt. General (Retd.) Nirbhay Sharma.
Mizoram: Lt. General (Retd.) Nirbhay Sharma has been transferred and appointed as Governor of Mizoram for the remainder of his term.
Tripura: Tathagata Roy will be the Governor of Tripura.
Meghalaya: V. Shanmuganthan has been appointed as Meghalaya Governor.


1. RBI advised all public sector banks (PSBs) to appoint internal Ombudsman. This internal Ombudsman will be designated as Chief Customer Service Officer (CCSO) and it should not have worked in the bank in which it has been appointed as CCSO.

Objective: To further boost the quality of customer service and to ensure that there is undivided attention to resolution of customer complaints in banks.

Mergers & Acquistion:

1. Global mobile multi-channel messaging platform mGage acquired Bengaluru-based counterpart Unicel Technologies. However, the deal value was not disclosed by both the companies.


1. Indian-origin Priti Patel was appointed as Minister of State for Employment in British Government. Prime Minister David Cameron promoted Priti Patel to his Cabinet after his surprise victory in general elections.

2. Arvind Saxena was appointed as a Member of Union Public Service Commission (UPSC). His appointment was made by the President Pranab Mukherjee.

3. Indian-born Nikesh Arora appointed as the President of Japan’s multinational telecommunications and internet company SoftBank Corp.

4. Eminent banker Kundapur Vaman Kamath was appointed as the first President of the New Development Bank (NDB) of BRICS nations. He will serve a five year term after the bank becomes operational within one year.

5. Deepak Iyer was appointed as Chief Executive Officer (CEO) and Managing Director (MD) of Bharti AXA General Insurance.

6. Union Ministry of Labour and Employment has appointed K. Satish Reddy as the chairman of the National Safety Council (NSC).

Awards & Recognition:

1. Writer Neel Mukherjee’s novel The Lives of Others has won the United Kingdom’s Encore Award for the best second novel. The novel The Lives of Others reflects the political and social convulsions of an entire society and based upon story of one family living in Calcutta in 1960s.

2. Dr. Sivanadane Mandjiny, an Indian-American Professor in US is named UNC Pembroke’s recipient of the UNC Board of Governors 2015 Award for Excellence in Teaching. He will receive this award along with each professor of the other 16 UNC campuses. The award carries commemorative bronze and US $ 12,500 cash prize.

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