Daily GK Update - 18th Nov 2014

1.    Kisan Vikas Patra (KVP) relaunched; money to double in 100 months

i. In view of popular demand, the government relaunched saving instrument Kisan Vikas Patra (KVP), wherein the invested money will get doubled in 8 years and 4 months. 

ii. The KVP, relaunched by Finance Minister Arun Jaitley, will be available in the denomination of Rs 1,000; 5,000; 10,000 and 50,000. There will be no upper ceiling on investment. 
iii. Under the scheme Investors will be able to double their money in 100 months. During the launch, Finance Minister said it will help poor, gullible investors to channelise their savings towards trusted government schemes instead of some ponzi schemes.
iv. The certificates, will be transferable and initially issued by post offices and later they will also be made available through nationalised banks.

v. Earlier, it was launched by the Government on April 1, 1988. 

Note: No PAN requirement for investment in Kisan Vikas Patra

i. The Finance Ministry has said that there will not be requirement of Permanent Account Number or PAN in puttig money in relaunched Kisan Vikas Patra.

ii. There will also not be any upper limit on investment.

iii. It will be available to the investors in the denomination of Rs. 1000, Rs. 5,000, Rs. 10,000 and Rs. 50,000, with no upper ceiling on investment.

iv. The certificates can be issued in single or joint names and can be transferred from one person to any other person / persons, multiple times.

v. The facility of transfer from one post office to another anywhere in India and of nomination will be available.

vi. With a maturity period of 8 years 4 months, the collections under the scheme will be available with the Government for a fairly long period to be utilized in financing developmental plans of the Centre and State Governments and will also help in enhancing domestic household financial savings.

2.    India and Australia signed five pacts and agreed on early closure of Civil Nuclear Deal

i. India and Australia on 18 November 2014 signed five pacts on social security, transfer of sentenced prisoners, combating narcotics trade, tourism, and Arts and Culture. 

ii. Australian Prime Minister Tony Abbott and his Indian Counterpart Narendra Modi agreed to have a Free Trade deal by 2015 end. 

iii.  India will organise a Make in India show in Australia in 2015 while Australia would hold a business week in India in January 2015. 
iv. Persons of Indian Origin (PIO) and Overseas Citizen of India (OCI) card holders need not present themselves at police stations while visiting India from now onwards. The people who have a Persons of Indian Origin (PIO)  card will now get a lifetime visa to India.

v. Modi, who arrived on Friday for the G20 economic summit in Australia, where about 300,000 Indians live, urged Indians to boost investment at home.

five pacts are:

i. The Social Security Agreement 

ii. Agreement concerning Transfer of Sentenced Prisoners:

iii. MoU on Combating Narcotics Trafficking and Developing Police Cooperation:

iv. MoU on Cooperation in the Field of Arts and Culture:

iv. MoU in the Field of Tourism:

3.    Pandit Jasraj conferred with Sumitra Charat Ram Award 2014 for Lifetime Achievement

i. Veteran classical vocalist Pandit Jasraj was on 17 November 2014 conferred with the Sumitra Charat Ram Award 2014 for Lifetime Achievement. 
ii. Pandit Jasraj joined the list of eminent personalities who were honoured with the award earlier including Pt Birju Maharaj, Kishori Amonkar and Mayadhar Raut. 
iii. The award function marked the beginning of a year-long celebrations to commemorate the 100th birth anniversary of Ram who was born on 17 November 1914 in Meerut.

Sumitra Charat Ram Award
The award was instituted in 2011 to honour stalwarts in art and was named after Sumitra Charat Ram who founded the Shriram Bharatiya Kala Kendra in 1952. 

4.    Vengsarkar to receive BCCI Lifetime Achievement Award

i. Former India captain Dilip Vengsarkar will receive the C.K. Nayudu Lifetime Achievement Award for 2014, a Board of Control for Cricket in India (BCCI) statement said on Tuesday.

ii. He will be handed a citation, trophy and cheque for Rs. 25 lakh at the eighth annual BCCI Awards Ceremony to be held here on Friday to recognise and reward India’s top performers in the 2013-14 season.

iii. Vengsarkar was nominated for the award by a committee comprising interim BCCI president Shivlal Yadav, secretary Sanjay Patel and senior journalist Shekhar Gupta. Former India skipper Kapil Dev received the award in 2013.

iv. Vengsarkar, regarded as one of India’s best batsmen, is also known by the nickname ‘Colonel’. The 58-year-old made his international debut against New Zealand at Auckland in 1975-76.

5.    Economy may expand at 5.6% in FY15: Fitch

i. India's economic growth is expected to pick up to 5.6 per cent in the current fiscal on account of structural reforms being rolled-out by the government, Fitch Ratings said today.

ii. However, factors such as pace of fiscal consolidation and structural reforms, investment and inflation environment as well as banking sector's asset quality form downside risks to the economy, the global ratings agency said in a release.

iii. Fitch expects real GDP growth to pick up to 5.6 per cent in FY15 and 6.5 per cent in FY16 from 4.7 per cent in FY14," it said.

6.    Burkina Faso chooses Michel Kafando as interim president

i. Veteran diplomat Michel Kafando has been chosen as Burkina Faso's interim president, officials in the west African country announced on Monday and will head the country until 2015. 

ii. The 72-year-old described the appointment as "more than a honour". "It is an awesome responsibility that falls to me, I already foresee the pitfalls and the immensity of the task," he told reporters. 
iii. Kafando previously served as the country's ambassador to the United Nations from 1998 to 2011. He was also Burkina Faso's foreign affairs minister between 1981 and 1982. 

Note: Burkina Faso is a landlocked country in West Africa around 274,200 square kilometres (105,900 sq mi) in size. Capital is Ouagadougou

ii. It is surrounded by six countries: Mali to the north; Niger to the east; Benin to the southeast; Togo and Ghana to the south; and Ivory Coast to the southwest. Its capital is Ouagadougou. As of 2014, its population is estimated at just over 17.3 million.

iii. Formerly called the Republic of Upper Volta, the country was renamed "Burkina Faso" on 4 August 1984 by then-President Thomas Sankara. Residents of Burkina Faso are known as Burkinabè . French is an official language of government and business.

7.    India has world’s largest youth population: UN report

i. With 356 million 10-24-year-olds, India has the world’s largest youth population despite having a smaller population than China, a latest UN report said today.

ii. China is second with 269 million young people, followed by Indonesia (67 million), the US (65 million) and Pakistan (59 million), Nigeria with 57 million, Brazil with 51 million, and Bangladesh with 48 million, the United Nations Population Fund’s (UNFPA) State of the World’s Population report said.

iii. It said developing countries with large youth populations could see their economies soar, provided they invest heavily in young people’s education and health and protect their rights.

iv. The report titled ‘The power of 1.8 billion’, said 28 per cent of India’s population is 10- to 24-year-olds, adding that the youth population is growing fastest in the poorest nations. Global number of youths is highest ever.

8.    New director nominated on RBI board

i. The Government has nominated Hasmukh Adhia, Secretary, Department of Financial Services, as the Director of Central Board of Directors of the RBI.

ii. “The Central Government has nominated Dr. Hasmukh Adhia, Secretary, Department of Financial Services, Ministry of Finance, New Delhi as a director on the Central Board of Directors of the Reserve Bank of India vice Gurdial Singh Sandhu,” RBI said in a statement

9.    Book titled Truth Always Prevails written by Sadruddin Hashwani released

i. Penguin Books on 17 November 2014 released the Book titled Truth Always Prevails. The book has been written by Sadruddin Hashwani.

ii. The book Truth Always Prevails is a self-narrated account of personal and entrepreneurial experiences by one of the most successful businessmen of Pakistan with a global footprint. This is a story of Pakistan and the Pakistani Dream. The book was released in Pakistan. 

10.  Myntra.com named Kangana Ranaut as its brand ambassador

i. Leading online fashion store Myntra.com in the month of July 2014 named Bollywood actress Kangana Ranaut as its brand ambassador.

ii. As part of her new assignment, Kangana will feature in some of the promotional initiatives by the brand.

11.  Assam government presented 1st state bravery award to Gunjan Sarma

i. The Assam government on 17 November 2014 presented the first state bravery award to Gunjan Sarma in Guwahati. 
ii. 15 year old Gunjan, a resident of Sivsagar district was awarded with Assam’s first ever bravery award for saving lives of 10 school children who were taken hostage by a gunman on 4 December 2013.

iii. Gunjan Sarma, a student of Nazira Central School in Sivasagar district of Assam volunteered to accompany the gunman who hijacked their school van carrying students.

12.  Nanavati Commission submits final report on 2002 Gujarat riots to CM

i. Justice Nanavati Commission has handed over its final report on 2002 Gujarat riots to Chief Minister Anandiben Patel at Gandhinagar today. Though, the findings of final report have not been officially disclosed, according to sources, it has given clean chit to then Chief Minister Narendra Modi. 
ii. Earlier, the Commission had already handed over its interim report to then Chief Minister Narendra Modi in September 2008, which was later tabled in the state assembly.

iii. The earlier interim report was related to introduction, proceedings, evidence and findings that led to setting on fire some coaches of Sabarmati Express Train near Godhra Railway Station, while the final reports is covering the violence incidents that took place after Godhra train carnage. 

iv. The Commission comprises retired judges G.T.Nanavati and Justice Akshay Mehta. The panel had been constituted by Gujarat Government on 3rd March 2002 under the Commission of Inquiry Act comprising Justice K.G.Shah. 

13.  IREDA, US-Exim Bank sign MoU on clean energy investment

i. Indian Renewable Energy Development Agency, IREDA and US-Exim Bank today signed a Memorandum of Understanding,MoU on cooperation on clean energy investment.

ii. US Exim Bank will provide USD one billion for medium and long-term loans to finance US technologies, products and services utilized during commercial development activities within the clean energy sector by IREDA.

iii. The MoU will establish a framework for cooperation in the financing of credit worthy entities for renewable energy projects. It will also facilitate export of goods and services of US origin in India. 
iv. The MoU was signed by Mr KS Popli, Chairman and Managing Director IREDA, and Mr Fred P Hochberg, Chairman and President, Export-Import Bank of the United States in Delhi today.

14.  TSR Subramaniam Committee submits report on environment law

i. The TSR Subramaniam Committee which was constituted to review the processes, laws and Acts of the Ministry of Environment, Forests and Climate Change today submitted its report.

ii. It was submitted to Minister for Environment, Forests and Climate Change, Prakash Javadekar in New Delhi today.

iii. Speaking on the occasion, Mr Javadekar said that the report is a historical achievement which will strengthen processes to balance developmental commitments and environment protection. He said, the recommendations of the report will enhance Ministry's efforts to avoid undue delays and ensure transparency in clearances and implementation of projects. 

15.  International students in US at record high, China tops list, India on 2^nd

i. The number of international students studying in the United States is at a record high with nearly one-third of them coming from China, followed by India that sent over over lakh students to the country in 2013-14. 

ii. A report released by the Institute of International Education (IIE) said yesterday that a record number of 8,86,052 international students came to the US in the academic year 2013-14 to pursue studies in various academic courses, an increase of 8.1 per cent over the previous year. Topping the list is China from where 2,74,439 students came to study in the US - an increase of 16.5 per cent than the previous year. 

iii. China, in fact accounted for more than 30 per cent of the total international students. China is followed by India, which sent 102,673 students in the year 2013-2014, an increase of 6.1 per cent than the previous year, reversing a three-year trend of declining numbers of Indian students at the US universities. 

16.  Pacer Bhuvneshwar Kumar to get Polly Umrigar Award

i. Pacer Bhuvneshwar Kumar will get the Polly Umrigar Award for the 2013-14 season.

ii. The award is given to India’s best international cricketer of the year. The Board of Control for Cricket in India (BCCI) announced this on Twitter today as part of its annual award ceremony. The award comprises a trophy and a cheque for 5 lakh rupees.

iii. BCCI's announcement came ahead of Team India's visit to Australia early next month.

17.  India, China joint military exercise “Hand-in-Hand” begins in Pune

i. The Fourth India-China Joint Training Exercise Hand-in-Hand 2014 began at Pune in Maharashtra yesterday.

ii. The aim of the joint exercise is to acquaint both the Armies with each other’s operating procedures in the backdrop of counter terrorism environment.

iii.  Exercise Hand-in-Hand 2014 is expected to develop mutual understanding and respect for each other’s military.

iv. The basic objective of the training is enhancing confidence and trust between the two armies which may be called upon to grapple with anti terrorism operations even under the UN mandate.