Daily GK Update - 1st April 2015

1. Mustafa Kamal resigned from the post of President of International Cricket Council

i.  Mustafa Kamal on April 1 the President of the International Cricket Council as the 2015th Stepped Down (ICC). He sent out the resignation letter to the ICC.

ii.  The Bangladeshi Cricket administrator Alan Isaac as the 11th President of the ICC had SUCCEEDED in June 2014th A Period of Two Years for.

iii.  He has been with Associated Cricket Cricket for 30 Years and served in different capacities. In 2012, he was named as the Vice-President of the ICC for the term 2012-2014.

2. Commerce Ministry releases Foreign Trade Policy

i.  The Commerce ministry announced its new Foreign Trade Policy for the Period 2015-2020. 

ii.  To address the Infrastructural bottlenecks, Complex Procedures and Manufacturing Hurdles, the new Trade Policy announced Two new schemes - Merchandise Exports From India Scheme (Meis) and Services Exports From India Scheme (SIES).

iii.  The new Trade Policy will boost exports, while supporting Jobs create 'In Make India' and 'Digital India' ... Will focus on defense, PHARMA, Environment-friendly products and value-Added exports.

3. Snapdeal acquires majority stake in RupeePower 

i.  E-Commerce Marketplace Snapdeal has acquired majority stake in A Platform RupeePower distribution for digital FINANCIAL AMOUNT an Undisclosed.

ii.  Snapdeal's Entry into an E-Commerce for online FINANCIAL Services is A first company in India. Following the deal, the SoftBank-backed Snapdeal will offer consumer loans through the RupeePower network. The online financial services market in India is estimated at Rs 4,500 crore.

iii.  The latest Development is part of $ 1-billion Acquisition Spree's Snapdeal. Founded in 2011, RupeePower has partnered 12 banks, including the State Bank of India, and non-banking financial companies.

4. Kotak Mahindra-ING Vysya merger gets RBI approval 

i.  The Merger Kotak Mahindra Bank and ING Vysya Bank has deal between the Reserve Bank's Approval Received, which would create the Country's fourth Largest Lender private Sector. 

ii.  The Scheme of Amalgamation (Kotak Mahindra Bank and ING Vysya Bank of) shall come into Effect from April 1, 2015. Following the Merger, all the Kotak Mahindra Bank Tangible and Intangible Assets have been Transferred to. 

iii.  The Rs 15,000 crore Kotak Mahindra and ING Vysya got Merger deal between the Competition Commission's Approval in February. 

5. RBI penalises 16 Central Co-operative Banks (CCBs)

i.  The Reserve Bank of India Central Cooperative Banks Penalised 16 with Rs 5 lakh each for A NON-Adherence of Fine Know Your Customer and Anti-Money Laundering Guidelines of the.

ii.  The LENDERS Notices were issued show-cause and the Action was taken after going through the Responses.

iii.  The Penalties Imposed on were CO-operative Banks in exercise of these powers under the provisions of Section 47 RBI in Vested (A) Section 46 of the Banking Regulation Act with Read, one thousand nine hundred forty-nine

6. New Zealand cricketer Mills follows Vettori into retirement

i.  New Zealand Cricket Pace Bowler Kyle Mills announced his Retirement from all Wednesday, following Daniel Vettori in the World Cup Final after Calling it quits.

ii.  Mills was consistently among the World's top 10 One-day Bowlers Ranked Throughout his 14-year Illustrious Career, and for A NUMBER Ranked One was long Time.

iii.   Mills Represented in New Zealand Black Caps 170 ODIs and took the 240 BE to Wickets' Highest wicket-Taker in second behind the shortened game Vettori, who took 297.