DAILY GK UPDATE 4 OCTOBER

1.    Union Cabinet Approved the Creation of a New State of Telangana

i. The Centre today took the first significant step towards creation of Telangana state from out of Andhra Pradesh and deciding that Hyderabad will be the joint capital of the two states for 10 years.

Main point of the decision:
1.The city of Hyderabad will function as the common capital for both the States (Telangana and Seemandhra) for a period of ten years. 
2.The Union Cabinet has also approved the setting up of a Group of Ministers (GoM) to work out the various legal and administrative measures to ensure the safety and security of the residents of all the regions of the State including the guarantee of the Fundamental Rights. 
3.The Union Cabinet further approved that the Group of Ministers will go into the various issues which concern both the States and suggest appropriate measures to address them. 
4.The Group of Ministers will also work out the modalities for the provision of special financial disbursements required for the setting up of a new capital for the residuary State of Andhra Pradesh and to meet the special needs of the backward regions and districts of the two States.

5. The new state will have a geographical area of 10 of the 23 districts of undivided Andhra Pradesh.

6. The districts that will be a part of the new State are Hyderabad, Adilabad, Karimnagar, Khammam, Mahaboobnagar, Medak, Nalgonda, Nizamabad, Rangareddy and Warangal.

2.     Bimal Jalan Panel to scrutinize New Bank licences

i. The Reserve Bank today set up a three-member committee under former Governor Bimal Jalan to scrutinise applications for new bank licences, which are expected to be awarded by by January.

ii. “We have set up the committee under Bimal Jalan for bank licences, Usha Thorat (former RBI Deputy Governor), C B Bhave (former Sebi chairman) and Nachiket Mor (financial sector expert)...We will try our best to do it by January 2014,” RBI Governor Raghuram Rajan said at a press conference here after a board meeting.

iii. The panel will make its recommendations to the Governor and Deputy Governors, who will make the final proposals to the committee of the RBI central board.

iv. Rajan said the central bank would endeavour to do “as much as possible” before RBI Deputy Governor Anand Sinha, who looks after new bank licences, retires in January 2014.

v. The RBI had issued guidelines for licensing of new banks in the private sector on February 22 and came out with clarifications in the first week of June

Note: There are 26 applicants from the public and private sector for bank licences, including Tata Sons, India’s biggest business group, and firms controlled by billionaires Anil Ambani and Kumar Mangalam Birla.

ii. Among public sector units, India Post and IFCI have submitted applications. Micro finance institutions such as Bandhan Financial Services and Janalakshmi Financial, too, have expressed their intention to set up banks.

3.    India is largest recipient of foreign remittances: World Bank report

i. India has once again emerged as the largest recipient of foreign remittances. Non-Resident Indians or NRIs sent a record 71 billion dollars home compared to 70 billion dollars last year. 

ii. According to a Word Bank report on recent trends and outlook on Migration and Remittance Flows, NRIs are estimated to remit up to 85 billion dollars a year by 2015. 

iii. The surge in remittances continues despite the recent decline in Rupees against the Dollar.

iv. The gulf countries account for nearly 40 per cent of remittances in India while it was 48 percent to South Asian countries.

v. In the World Bank Report, India came as the top beneficiary with foreign remittances worth 71 billion dollars followed by China with 60 billion dollars and the Philippines which got 26 billion dollars.

vi. In the Middle East and North Africa region, Nigeria topped the list with 21 billion dollars while Egypt came second with foreign remittances worth 20 billion dollars being sent by expatriates.

4.    Rashtriya Uchchatar Shiksha Abhiyan approved by CCEA

i. The Cabinet Committee on Economic Affairs approved the Rashtriya Uchchatar Shiksha Abhiyan (RUSA), a Centrally Sponsored Scheme (CSS) for reforming the state higher education system.

ii. As per this, during the 12th Plan period, 80 new universities would be created by converting autonomous colleges or colleges in a cluster to State universities. 

iii. 100 new colleges, including professional and technical colleges would be set up and 54 existing colleges would be converted into model degree colleges.

iv. Infrastructure grants would be given to 150 universities and 3500 colleges to upgrade and fill critical gaps in infrastructure especially libraries and laboratories. 

v. Rashtriya Uchchatar Shiksha Abhiyan would also support 5000 faculty positions.

5.    EC announces poll schedule for five states 

i. Assembly elections will be held in Delhi, Rajasthan, Madhya Pradesh, Mizoram and Chhattisgarh from 11th November, the Election Commission announced on Friday.

ii. While Chhattisgarh will have a two-phase polling on 11th November and 19th November, the remaining states will have a single-phase poll. 

iii. Delhi and Mizoram will go to polls on 4th December, Madhya Pradesh on 25th November and Rajasthan on 1st December. 

iv. For the first time, voters will have an option of 'none of the above' (NOTA) in these polls where they can decide not to vote any of the candidates in the fray. 

6.    India seeks Belgium's support to enter arms control regimes

i. President Mukherjee, in his opening remarks at the talks with Belgian Prime Minister Elio Di Rupa, said India attaches great importance to its relations with Belgium and hoped that the two countries strengthen economic ties.

ii. Expressing hope that Belgium will continue its constructive approach and will support India's efforts to become a full member of the four arms control regimes, namely, NSG, Missile Technology Control Regime (MTCR), Wassenaar Arrangement and Australia Group, the President said "a clear public stance by Belgium on this issue would be in line with our excellent cooperation." 

iii. NSG has 47 members, MTCR has 34 countries as its members, Wassenaar Arrangement, an order which is for the promotion of regional security, international security and stability by offering transparency and greater responsibility in transfers of conventional arms, dual-use goods and technologies, has 41 members. 

iv. President Mukherjee, the first Indian Head of the State to visit Belgium, also thanked the country for its support of India's candidature to a permanent seat in an expanded United Nations Security Council. 

v. Dwelling on the economic relations between the two countries, Mukherjee said that the last few years have seen a difficult economic environment in Europe and elsewhere. 

7.    ICICI Bank opens skill training academy in Jaipur

i. As part of its Corporate Social Responsibility (CSR) efforts, ICICI Bank today opened skill training academy to provide vocational training to youth from economically weaker section of the society.

ii. The vocational training course will provide sustainable livelihood opportunities to the beneficiaries, ICICI Bank Managing Director and Chief Executive Chanda Kochhar said here.

iii. The courses offered will include selling skills, office administration and web design for graduates; and electrical & home appliance repair, refrigeration & air-conditioning repair, and diesel generator & pump repair for Class X passouts, she said, adding, the courses will be of about 12 weeks duration.

iv. “The launch marks the next step in our strategy to promote inclusive growth in India, will train 5,000 youth at nine training centres across the country in the first year of operation,” she said, adding, the academy aims to train 15,000 youth across the country by 2016.

8.    S.Varadarajan took over as the CMD of Bharat Petroleum Corporation Limited

i. S. Varadarajan took over charge as chairman and managing director (CMD) of Bharat Petroleum Corporation Limited (BPCL). S.Varadarajan has succeeded R.K. Singh.

ii. Prior to his appointment as the CMD, Varadarajan was serving as the Director (finance) of the company.

iii. Varadarajan is a member of the Institute of Chartered Accountants of India and a member of the Institute of Cost and Works Accountants of India.

9.    Indian Railways Signed Pact with RINL to Set up India's Biggest Forged Wheel Plant in UP

i. The Indian Railways on 3 October 2013 signed a pact with Rashtriya Ispat Nigam Limited (RINL) to set up the country's biggest Forged Wheel plant at Lalganj, Raebarelli in Uttar Pradesh.

ii. The Plant to be set with an investment of about 1100 crore Rupees will produce one lakh numbers of Forged Wheels per annum in the First phase for Locos and High speed trains.

iii. The capacity of the plant can be doubled in the Second phase for a production of over two lakh wheels per annum.

iv. The steel requirement for the plant located in 40 acres is to be supplied by the Rashtriya Ispat Nigam Limited (RINL). 

v. The Factory expected to be operational in over three years, could provide employment to about 600 people. 

vi. The Forged wheel plant will reduces India's dependence on imports of high speed forged wheels for trains. 

vii. The quality of wheel manufactured in the plant will be tested and certified by International certifying agency TTCI, USA.

viii. Forged wheels are essentially required in the rolling stock for running longer trains at higher speed.

                                                                                                    

10.  CCEA Approved Jet Airways' Proposed Sale of 24 Percent Equity to Etihad Airways

i. The Cabinet Committee on Economic Affairs (CCEA) on 3 October 2013 cleared Jet Airways proposed sale of 24 per cent equity to Abu Dhabi-based Etihad Airways, paving the way for the biggest ever foreign investment in the Indian aviation sector.

ii. The proposal was of Etihad to subscribe 27263372 Jet  Airways shares of 10 Rupees each, amounting to 24 percent of post-issue paid-up equity share capital for 2057.66 crore Rupees.

iii. The decision was taken at a CCEA meeting chaired by Prime Minister Manmohan Singh in New Delhi. The approval will result in foreign investment amounting to over 2057 crore Rupees in the country. The Foreign Investment Promotion Board (FIPB) has recommended the proposal.

iv. Jet-Etihad deal was already approved by SEBI (Securities Exchange Board of India) on 1 October 2013.

11.  India unveils 1st indigenously developed vaccine for treating Encephalitis

i. In an important medical leap, India today unveiled its first indigenously developed vaccine for treating Japanese Encephalitis, a mosquito-borne viral disease that affects the brain.

ii. The manufacturer of the vaccine named JENVAC claims that the highly purified inactivated vaccine can be administered during epidemics without the fear of adverse effects. It is available in both single dose and five dose presentations.

iii. The vaccine has been developed under the Public Private Partnership mode. 

iv. Launching the vaccine in New Delhi, Health Minister Ghulam Nabi Azad said its development is a remarkable milestone in the emergence of India as an innovative and self-sufficient technology hub.

v. He said it will enable the country to fight with the deadly virus which causes hundreds of deaths every year.

Note: i. Japanese Encephalitis, which is prevalent in 171 districts of 19 States, affects mostly children below 15 years.

ii. About 25 per cent of the affected children die and among survivors, 30 to 40 per cent suffer from physical and mental impairment.

iii.  The indigenous production will now improve the efficacy, availability and affordability of the vaccine which is presently being imported from China.

12.  Gen. Giap, Vietnam war hero, dies at 102

i. General Vo Nguyen Giap, a key figure in securing Vietnam’s independence and winning the Vietnam War, died on Friday at 102, senior military officials and a relative said.

ii. He died of old age, not because of any illness,” said the official, who requested anonymity. 

iii. The general had been in hospital for several years because of ill health.

iv. Gen. Giap achieved his crowning moment as a commander in the battle of Dien Bien Phu in 1954, which marked the end of the First Indochina War and France’s colonisation of Vietnam.

v. The victory over the French led to the partition of the country and the beginning of a fresh outbreak of hostilities, this time between the communist North and U.S.-backed South.

vi. Gen. Giap was also known as the initiator of the final offensive against South Vietnam in 1975.

13.  Afghanistan Qualified for ICC Cricket World Cup 2015

i. Afghanistan Cricket team on 4 October 2013 qualified for its maiden ICC World Cup after defeating Kenya by seven wickets at World Cricket League Championship in Sharjah. With this win Afghanistha also became the 20th team to gain entry into the tournament overall.

ii. Deciding to field first after winning the toss, Afghanistan dismissed Kenya for 93 runs in 43.3 overs and then achieved the target in 20.5 overs with seven wickets to spare.

iii. The victory meant Afghanistan finished on 19 points - five behind champion Ireland, which qualified for ICC world cup. The world cup will be jointly hosted by Australia and New Zealand in 2015.

14.  China Open tennis: Sania, Cara enter women's doubles final

i. The pair of India's Sania Mirza and Zimbabwe's Cara Black has entered the women's doubles final of the China Open tennis tournament. In the semi-final played in Beijing today, the pair shocked top seeded Italians Sara Errani and Roberta Vinci in straight sets 6-4, 6-4 in one hour and 12 minutes. 

ii. Saina and Cara next face the winners of the second semifinal between the pairs of China's Su-Wei Hsieh and Shuai Peng and Vera Dushevina of Russia and Arantxa Parra Santonja of Spain.

15.  Portugal's Luis Leao Pinto won Himalaya Bicycle Rally

i. Portuguese sensation Luis Leao Pinto emerged overall winners at the 9th MTB Himalaya 2013, which concluded in Shimla on 3 October 2013.

ii. The World No. 9 won the winner's trophy in the Open Men's Solo category. He clocked 17:33:21 while Purna Bahadur Pradhan (21:27:17) and Surendra Singh (21:42:16) finished second and third respectively.

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