GK Eduwrap – 4th June 2015

Update your IQ with the GK Eduwrap Daily Edition, loaded with GK updates, Current Affairs and all major happenings across the Globe. With GK Eduwrap you can now confidently crack the IBPS, SSC’s Current Affairs Section. Good Luck

National:

1. Rajasthan Chief Minister Vasundhara Raje inaugurated phase 1A of metro rail services in Jaipur. With this, the pink city became the sixth city in the country to have metro service after Delhi, Gurgaon, Mumbai, Bangalore, and Kolkata.

One most important fact of Jaipur metro service is that six out of 24 Metro train operators, that is, 25 percent of metro drivers, are women. Jaipur Metro Rail Project has been developed by Jaipur Metro Rail Corporation Ltd (JMRCL) which was set up as a wholly owned subsidiary by the Government of Rajasthan.

In the first phase, the metro will run on 9.6 kilometer stretch covering nine stations from residential area Mansarovar to business hub in Chandpole.

2. Fishing ban along the Western Coast became effective from 1st June 2015. The ban will be in place for 61 days till 31st July 2015 in all the western coast states except in Kerala.

Kerala decided to stick to the 47-day ban, as in previous years, and allowed its fishermen to continue operating till June 15.

3. India and Belarus signed six agreements to enhance bilateral co-operation. The agreements were signed in presence of President Pranab Mukherjee during his state visit to Belarus.

The signed agreements are:

» Roadmap for India-Belarus Cooperation for strengthening bilateral relations and co-operation in the field of trade, culture and other areas.

» Protocol to amendment to amend the agreement between two countries for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to Taxes on Income and on Property (Capital) of September, 1997.

» MoU on Cooperation in the field of Standardization and Information Support: It was signed between Bureau of Indian Standards (BIS) and the State Committee for Standardization of the Republic of Belarus.

» MoU for cooperation on Broadcasting: It was signed between Prasar Bharati (PB) and the National State Television and Radio Company of the Republic of Belarus (Belteleradiocompany).

» MoU on Bilateral Cooperation between the Securities and Exchange Board of India (SEBI) and the Ministry of Finance of Belarus.

» MoU for Manufacturing and Marketing of Light Industry Goods (concern Bellegprom): It was signed between the Union Ministry of Textiles of India and the Belarusian State.

International:

1. US President Barack Obama signed the USA FREEDOM Act 2015 in law. The USA FREEDOM stands for Uniting and Strengthening America by Fulfilling Rights and Ensuring Effective Discipline Over Monitoring Act of 2015. With this, the National Security Agency (NSA) lost its authority to collect the phone records of millions of Americans.

2. Amancio Ortega passes Warren Buffett as world’s second richest person in Bloomberg Billionaires Index.

Economics:

1. Bangladesh has granted permission to India’s state-owned insurance group Life insurance Corporation (LIC) to do business in the country. LIC will start its operations in Bangladesh as a joint venture (JV) entity to be called LIC Bangladesh Ltd. with a paid up capital of one billion Taka.

LIC will be the second foreign insurance company to operate in Bangladesh after the US-based MetLife-ALICO. Presently, LIC is worth over 15,000 billion Indian rupees and operates in Nepal, Sri Lanka and Singapore apart from India.

2. United Bank of India slashed interest rates on fixed deposits by up to 0.5% on select maturities. PNB and Axis Bank had already reduced fixed deposit rates.

Allahabad Bank cut base rate by 0.30% to 9.95%, while Dena Bank, Punjab & Sind Bank reduced their base rate by 0.25% each. Dena Bank and Punjab & Sind Bank lowered their base rate to 10%.

Awards & Recognition:

1. R. Seetharaman, CEO of Doha Bank, has been conferred with the Lifetime Achievement Award for his contribution to the industry and his support for the environment and the business (in Dubai).

Apointment:

1. Indian-American Punit Renjen was appointed as Chief Executive Officer (CEO) of Deloitte Touche Tohmatsu Limited (Deloitte Global). Renjen succeeded Barry Salzberg, who retired from Deloitte Global on 31st May 2015.

2. Facebook appoints Munish Seth as Country Manager of connectivity solutions. Seth will be driving Facebook’s connectivity products and services in the country, including the Internet.org initiative.

Sports:

1. Inderjeet Singh won gold medal in men’s shot put event in the 21st Asian Athletics Championships. The 21st Asian Athletics Championships is being held at Wuhan, China. Inderjeet heaved the iron ball to a new championship record of 20.41 meter, which he achieved in his fourth attempt. With this, he became the eighth Indian shot putter to win a gold medal in the history of Asian championships.

Science & Technology:

1. Facebook announced the opening of a new artificial intelligence lab in Paris to expand a push to make its online social network smarter and more profitable.

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