GK Eduwrap – 9th March 2016

Eduwrap Daily 9th march


Grab your daily scoop of Current Affairs, from National to International, Sports, Business and Economics. Learn wisely and Gain better with Eduncle’s GK Eduwrap!



National – Across the India:


1. India is going to host BRICS Friendship Cities Conclave in Mumbai (Maharashtra), financial capital of India from April 14 to 16, 2016.

  • It will be attended by the top Urban Policy makers and Planners from BRICS Nations viz. Brazil, Russia, India, China and South Africa.
  • Prime Minister Narendra Modi will inaugurate the conference which will be attended by representatives of at least two cities from each of the BRICS nations.
  • The three-day conclave will be organized by Mumbai First, a think-tank working to find solutions for city’s development.


2. Karnataka government has launched Mukhyamantri Santwana Harish Yojana to provide free medical treatment to road accident victims for the first 48 hours (2 days) in the nearest government or private hospital.

  • The scheme has been named after Harish Nanjappa who had donated his eyes moments before his death. He had died as no help was provided to him after he was severely injured in mishap in February 2016.
  • Under the scheme immediate medical relief would be provided to the victim during the Golden Hour with financial aid up to Rs 25,000 during the first 48 hours of treatment.


3. The first ever all girls National Cadet Corps (NCC) Mount Everest expedition was flagged off by Union Minister of State (MoS) for Defence Rao Inderjeet Singh in New Delhi.

  • The aim of mountaineering expeditions in NCC is to strengthen the character and instill qualities of courage, discipline, comradeship and leadership in the cadets.
  • The team consisting of ten girl cadets is led by Colonel Gaurav Karki, along with fifteen service personnel. They will reach Nepal on 31st March 2016 and likely to summit the peak between 15 and 25th May, 2016.


4. 57 countries are going to take part in the first Maritime India Summit 2016 scheduled to be held in April 2016 in Mumbai, Maharashtra.

  • The maiden Maritime India Summit is scheduled to be held in Mumbai, Maharashtra. It will be organised by Union Ministry of Shipping.
  • It was announced by the Union Shipping Minister Nitin Gadkari on the sidelines of media launch of the Maritime India Summit 2016.


Economics & Banking GK:


1. The Union Finance Ministry has announced to withdraw its proposal to tax Employee Provident Fund (EPF) withdrawals.

  • Union Finance Minister Arun Jaitley announced it in the Lok Sabha clarifying NDA government’s stand on the issue.
  • Government has not changed its plan to tax National Pension Scheme (NPS) withdrawals.


2. The Union Finance Ministry has announced to withdraw its proposal to tax Employee Provident Fund (EPF) withdrawals.

  • Union Finance Minister Arun Jaitley announced in the Lok Sabha clarifying NDA government’s stand on the issue. However, government has not changed its plan to tax National Pension Scheme (NPS) withdrawals.
  • The Employee Provident Fund (EPF) is a retirement benefit applicable only to salaried employees. It is a fund to which both the employee and employer contribute fixed amount (percent) of the former’s basic salary amount each month. This percentage is pre-set by the government. At present, the entire EPF amount is tax free at the time of withdrawal if the employee has completed five years of continuous service.


3. India’s largest private sector lender ICICI Bank has rolled out iWork@Home programme for its women employees for up to a year.

  • It was launched by Chanda Kochhar, Managing Director and CEO of ICICI Bank on the occasion of International Women’s Day (8th March).
  • iWork@Home programme is an information and communication technology (ICT) initiative that seeks to prevent women employees from dropping out of its workforce
  • It is based on face recognition technology that will facilitate women employee to work from home and provide access to the bank’s core banking servers under.
  • The technology has been developed by ICICI Bank in partnership with students from the Indian Institute of Technology (IIT) Delhi.


Bills – New & Amendments:


1. Parliament has passed Bureau of Indian Standards Bill, 2015 to establish Bureau of Indian Standards (BIS). The Bill replaces the Bureau of Indian Standards Act, 1986.

  • It was first passed in Lok Sabha during winter session in December 2015 and later in Rajya Sabha in February 2016. Now the bill will go Presidential assent as per provisions of Article 111 of the Constitution.
  • The bill establishes BIS as a national standard body for development of standardization and assessment and quality assurance of goods, articles, services, processes and systems.
  • At present, BIS is not formally recognised as a national standards body of the country, though it is representing India in various international bodies.


Memorandum of Understanding:


1. India and Saudi Arabia have expressed keenness to elevate ties between the two countries to strategic level by boosting cooperation in key areas of trade, security and counter terrorism.

  • It was decided after Union External Affairs Minister Sushma Swaraj held extensive talks with her Saudi Arabian counterpart Adel bin Ahmed Al-Jubeir in New Delhi who was on a two day-official visit to India.
  • Saudi Arabia is India’s largest crude oil supplier accounting for about one-fifth of the country’s total imports. Thus it is key player in the India’s energy security.


Science & Technology:


1. Iran’s Islamic Revolutionary Guards Corps (IRGC) has successfully test-fired several ballistic missiles from silos across the country.

  • These tests were conducted by IRGC to demonstrate the country’s deterrent power and its ability to confront any threat against the state and the sovereignty of the country.
  • Ballistic Missile is a missile with a high, arching trajectory which is initially powered and guided but falls under gravity on to its target. Most of its trajectory is unpowered and governed by gravity and air resistance if it is in the atmosphere. In contrasts, cruise missiles are aerodynamically guided in powered flight.



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