Daily GK update - 8th Nov 2014

1.    Laxmikant Parsekar is new Goa CM

i. Laxmikant Parsekar was sworn-in as Goa Chief Minister. Nine other Ministers also take oath on Saturday.

ii. Earlier, Senior BJP leader Rajiv Pratap Rudy said Laxmikant Parsekar, currently health minister, was unanimously elected at the legislature party meeting and chosen as the next Goa chief minister. 
iii. Parsekar, MLA from Mandrem constituency, would be sworn-in as Chief Minister at 4 p.m. at Raj Bhavan today
iv. Earlier, Parrikar faxed his resignation to Governor Mridula Sinha at Raj Bhavan. The 58-year-old technocrat- turned politician had taken over as Chief Minister in March 2012 after BJP rode to power in the coastal state.

2.    India and Bhutan signed MoU to develop Nalanda University

i. India and Bhutan on 7 November 2014 signed a Memorandum of Understanding (MoU) to develop Nalanda University in Bihar as an international centre of excellence.

ii. According to the MoU, the Nalanda University will be located at Rajgir in Bihar and will have the power to confer degrees, diplomas and certificates. 

iii. As per the MoU, India will provide appropriate visa to students, faculty and staff for travelling to India to study or work in the University. The funding for the establishment and operations of the University will be on a voluntary basis.

3.    Chinese payments company China UnionPay to set up shop in India

i. China UnionPay (CUP), the payments company which was created to rival Visa and MasterCard in the Middle Kingdom, is setting up shop in India.

ii. The Reserve Bank of India is also considering a bilateral arrangement whereby CUP cards are accepted in the country and India's RuPay cards are accepted in China.

iii. Bankers said that the fact that the company is seeking to fill positions in India could only mean that it has some in principle approval from the central bank.

Note: i. CUP cards are accepted in over 140 countries across the world and the payments giant is keen on enabling acceptance in India.

ii. At present, both CUP and RuPay have an agreement with US card company Discover to use the latter's global network for facilitating international payments.

iii. Through the Discover network, RuPay cards can be used in China and CUP cards can be used in India. A direct agreement will enable both cardholders to make payments in each other's country without going through an intern.

4.    Axis Bank inks MoU with South Korean NongHyup Bank

i. Private sector lender Axis Bank has signed a pact with NongHyup Bank (NH Bank) to enhance cooperation in treasury, trade and other business between India and South Korea.

ii. The MoU, will serve to strengthen existing ties between the two banks and will help facilitate and enhance cooperation in the areas of treasury, srade and other business," Axis Bank said in a release.

iii. The MoU aims to reinforce trade and economic relationship between South Korea and India, and will promote mutual development through business cooperation.

iv. NH Bank is one of the largest banks in South Korea with an asset base of $185 billion.

5.    Singapore keen to develop new Andhra capital

i. Union Minister for Urban Development M Venkaiah Naidu has said Singapore has shown keen interest in partnering with India in the urban development sector, including a smart satellite city and a new capital for the state of Andhra Pradesh.

ii. Top leadership of Singapore conveyed their areas of interest during the talks the Minister held today with Singapore’s Prime Minister Lee Hsien Loong and former Prime Minister and Emeritus Minister Goh Chok Tong in Singapore, in separate meetings.

iii. Venkaiah Naidu sought Singapore’s assistance in promoting smart city features like Intelligent Transport Systems, e-urban governance including delivery of services, water management including recycling and solid waste management.

6.    Suzlon Energy installed world’s tallest hybrid wind generator turbine in Kutch

i. The largest wind turbine manufacturer Suzlon Energy installed the world’s tallest hybrid wind generator turbine in Kutch, Gujarat.

ii. The turbine will generate 12-15 percent more energy.

iii. The 120-metre hybrid turbine is taller than conventional wind turbine towers by 40 metres. With this new turbine, the installed wind energy capacity at the Kutch region of Gujarat has gone up to 1100 MW. It makes it the Asia’s biggest wind energy park at one location.

iv. This tower is ideal for low wind areas and the potential is huge. In the next three years, this region will have 2000 MW of wind energy capacity.

About Suzlon Energy
Established in 1995, Suzlon is a leading wind power products and services company with a global footprint. Suzlon is credited with developing one of the world’s largest wind farms in the western Indian state of Gujarat and Rajasthan. 

7.    Burger King partnered with eBay to launch its burgers online

i. Burger King partnered with eBay to launch its burgers online in India.

ii. Consumers will be able to pre-order Burger King's signature burger Whopper, one of the world's most popular five-inch diameter burgers, for a limited time period.

iii. The company offered the pre-ordering of Whopper online for 128 rupees and only select consumers will be able to redeem their coupons at Burger King Outlets.

iv. The Burger King is launching its first store in New Delhi which is followed by subsequent launches in other 10 other locations.

8.    Indian-origin politician Keith Vaz named as Labour MP of the Year

i. Indian-origin British politician Nigel Keith Anthony Standish Vaz known as Keith Vaz was on 6 November 2014 named as the Labour MP of the year 2014.

ii. He was choosen for this award for his valuable work for underrepresented, deprived and minority sections of the country.
iii. Speaker of the house John Bercow announced the Patchwork Foundation MPs of the Year 2014 at Speakers House.  The awards were announced for those who have represented and worked with underrepresented, deprived and minority communities across the country.

9.    Havells India Limited chairman Qimat Rai Gupta passed away

i. The electrical equipment maker Havells India Limited group chairman Qimat Rai Gupta passed away. He was 77.

ii. Qimat Rai Gupta started Havells India Limited in 1971 and transformed it to a multinational company with operations across 51 countries.
iii. Gupta's big moment came in 2007 when Havells acquired Europe headquartered Sylvania Lighting thus registering Havells amongst top 4 lighting companies in the world.

10.  World Chess Championship 2014 begins in Russia today

i. World Chess Championship 2014 begins in Sochi, Russia today.

ii. Indian Grandmaster Vishwanathan Anand will take on reigning champion Magnus Carlsen of Norway in the first of the twelve games to be played.

iii. The match will begin at 5:30 PM Indian Time. Five-time world champion Anand will take the white piece in the first game.

iv. Anand bids to reclaim the world title, which he lost to Magnus Carlsen, last November.

v. The first player to attain Six and a Half points will become world champion.

vi. The championship is being held under the auspices of the World Chess Federation (FIDE).