Daily GK Update & Current Affairs: 12th September 2017
1. Prakash Padukone to receive BAI’s maiden lifetime achievement award:
- Indian Badminton legend ‘Prakash Padukone’ will receive Badminton Association of India’s (BAI) first-lifetime achievement award for his contribution to Badminton. The award carries the cash prize of 10 lakh rupees with a citation.
- Prakash Padukone is one of the co-founders of Olympic Gold Quest, a foundation dedicated to the promotion of Olympic sports in India.
- Padukone had won the 1980 All England, besides bagging a bronze at the 1983 World Championship in Copenhagen and a gold medal at the 1978 Commonwealth Games.
2. Tahir Mahmood Awarded N R Madhava Menon Best Law Teacher Award:
- Eminent jurist Tahir Mahmood was awarded the prestigious N R Madhava Menon Best Law Teacher Award 2017 for his distinguished services to legal education and the legal profession on the occasion of Law Teachers’ Day celebrations.
- The function was organized by the Society of Indian Law Firms (SILF) and Menon Institute of Legal Advocacy Training (MILAT). The awards are bestowed every year to honor the most deserved law teachers and institutions in India and across the SAARC region.
3. Age limit for National Pension Scheme raised to 65 years:
- Pension Fund Regulatory and Development Authority (PFRDA) has raised the upper age limit for joining the National Pension Scheme (NPS) to 65 years (existing 60-years).
NPS is currently open for people between 18 and 60 years. The scheme has the option of continuing and making contributions up to the age of 70.
- The move was part of the government’s efforts at expanding the pension base.
National Pension System (NPS) is a low cost, tax-efficient and flexible retirement savings scheme launched by the government of India (GoI).
- It is one of the saving schemes where you can invest money monthly or through a systematic saving plan during your working life to get an adequate retirement income.
- As per the latest updates in 2016, an additional tax benefit of Rs 50,000 under Section 80CCD (1b) of Income Tax Act is provided under NPS, which is over the Rs 1.5 lakh exemption of Section 80C.
4. Cabinet approves MoU between India and Japan in the field of Silk Industry:
- The Union Cabinet has approved Memorandum of Understanding (MoU) between India and Japan for collaborative research in the field of silkworm and silk industries.
- The MoU was signed between Central Silk Board (CSB), India and National Institute of Agrobiological Sciences (NIAS), Japan in November 2016.
- The MoU was of scientific and technological nature. Its aim was to initiate Collaborative Research for developing prolific bivoltine hybrids of silkworm suitable for Indian tropical conditions.
5. ADB to Provide $152 Million Fund to Nepal:
- The Asian Development Bank (ADB) will provide a USD 152 million to Nepal for the implementation and enhancement of its power transmission and distribution. ADB and Nepal’s Ministry of Finance signed the loan agreement in Kathmandu.
- The aid will be granted to the Power Transmission and Distribution Efficiency Enhancement Project (PTDEEP) which supports the expansion of the transmission lines in various areas of Nepal.
6. Assam govt. to provide skill development training to 30 thousand surrendered militants:
- The Assam govt. will provide skill development training to 30 thousand surrendered militants.
- Another 24 thousand youths in Assam will be trained under the Prime Minister Kaushal Vikash Yojna.
- The Assam Skill Development Mission will provide skill training in 40 sectors.
The cost of the skill development training program will be borne by the state and Centre govt.
7. Kochi to host Coastal Shipping and Inland Water Transportation Summit:
- Kochi will host the fifth edition of the ‘Coastal Shipping and Inland Water Transportation Business Summit 2017’ at Hotel Crowne Plaza on 22nd September this year.
- The summit will be an initiative to explore the immense potential of coastal shipping and waterways as well as an effort to build a shared commitment and decipher the role that each stakeholder will have to play in integrating the coastal and waterways transport infrastructure.
- P Sathasivam (Kerala Governor) will present the India Sea-trade Award for Excellence in Coastal Shipping & Inland Water Transportation.
8. Mother Dairy, Maharashtra Government Tie up For Processing Plant:
- The Maharashtra Government and Mother Dairy Fruit and Vegetable Pvt. Ltd, a subsidiary of National Dairy Development Board (NDDB) have signed a lease agreement to set up a state-of-the-art milk and milk products processing plant.
- As per the MoU, a dairy development initiative will begin in Vidarbha and Marathwada regions to provide access to milk producers to markets in Nagpur and Mumbai.
9. Commerce & Industry Ministry to organize state start-up conference today:
- Today, the Department of Industrial Policy and Promotion, Government of India is organizing the Second State Startup Conference in New Delhi.
- The discussions shall be conducted around four key themes:
1: Governance reforms to be undertaken by States for Startups. 2: Incubation facilities in India and role of State Governments in developing these facilities. 3: Role of State Governments in setting up funds for Startups. 4: Making regulations easier for Startups.
- The conference is expected to provide a significant impetus to the creation of an enabling Startup Ecosystem in the country.
- The conference will be attended by senior functionaries from states, Union Territories, incubators, accelerators, funding agencies, VCs, angel investors, and startups.
10. Airtel launches VoLTE services:
- Telecom company ‘Bharti Airtel’ has launched Voice over LTE (VoLTE) services in Mumbai.
- VoLTE (works over 4G) will offer High Definition (HD) voice calls along with faster call set up time.
- In next few months, Airtel will rapidly accelerate the deployment of VoLTE to cover all key geographies to bring HD quality calling to our customers.
- Earlier, Reliance Jio Infocomm was the first company to launch services on the technology.
- VoLTE will also enable customers to access data at 4G speeds while the call is in progress.
- VoLTE has up to three times more voice and data capacity than 3G UMTS and up to six times more than 2G GSM.
11. HDFC Bank Becomes 2nd Most Valuable Company on BSE:
- HDFC Bank surpassed Tata Consultancy Services (TCS) to become the country’s second most valued firm in terms of market valuation.
- Shares of HDFC Bank gained 0.93 per cent to Rs. 1,840 (its 52-week high) on the BSE. Reliance Industries Ltd is the country’s most valued firm with a market cap of Rs. 5,33,818.72 crore followed by HDFC Bank and TCS in top three list.
12. Sumit Nagal Wins ITF Futures Tournament:
- Sumit Nagal of India blasted Colin van Beem of the Netherlands 6-3, 6-0 in the singles final to justify the top billing in the 8th MCC – S R Subramaniam Memorial ITF Futures Men’s tennis championship in Chennai.
- He conceded only nine points while winning the next nine games in a row to win the match. Nagal received USD 2,160 and 18 ITF points for the victory while van Beem received USD.1272 AND 12 ITF points.
13. Maharashtra wins Chief Minister’s cup at National kickboxing championship:
- Maharashtra has won the Chief Minister’s cup with 45 gold medals at the National kickboxing championship being held in Raipur.
- Chhattisgarh secured the second position with 27 gold and Haryana third with 15 gold medals.
- Around two thousand players from 27 states participated in the four-day event.
14. BWF World Senior Badminton Championships- First Time in India:
- The coastal city of Kochi is hosting the BWF World Senior Badminton Championships. The championship is been held in India for the first time. The week-long tournament will see a total of 665 players from 40 countries battle it out.
- A total of 175 players will represent India including Olympians – Abhinn Shyam Gupta, Nikhil Kanetkar, and V Diju. The Indian contingent will also have Arjuna awardee and Kerala player George Thomas and Commonwealth medallist and former India doubles players Sanave Thomas and Roopesh Kumar.