Daily GK Update - 26th April 2015

1. Marathi novelist Bhalchandra Nemade bags 50th Jnanpith Award 

i. Modi awarded the 50th Jnanpith Award to eminent Marathi litterateur Bhalchandra Nemade whose several books, including Kosala and Hindu, have influenced Indian writing. 

ii. He was presented award comprising of 11 lakh rupees and a citation plaque and a bronze replica of Saraswati by Prime Minister Narendra Modi.

iii. Nemade's contribution rests in initiating Deshivad, a theory of nativism that negated globalisation, asserting the value of a writer's native heritage, and language.

iv. Seventy-six-year-old Nemade hails from Jalgaon.

2. Bank of Baroda ties up with UAE Exchange for instant money transfer

i. Bank of Baroda, a leading Indian public sector bank, has tied up with UAE Exchange to offer an instant cash transfer facility to NRI customers.

ii. UAE Exchange, a global remittance and foreign exchange company, serves over 7.9 million customers worldwide and currently has over 750 branches across 32 countries.

iii. Following the agreement, customers can send money to their desired bank accounts in Bank of Baroda in India, within minutes.

iv. Bank of Baroda has a network of more than 5,000 branches across Europe, US, Africa, Asia and Australia and in financial centres like New York, London, Dubai, Hong Kong, and Singapore.

3. Another strong tremor hits Nepal 

i. A powerful tremor measuring 6.7 magnitude struck Nepal again, according to US Geological Survey (USGS).

ii. The government has already declared emergency in affected areas and announced a relief package of Rs.500 million. 

iii. Tremors were also felt in Uttar Pradesh, Odisha, West Bengal, Assam and Jharkhand. 

4. FIU detects over Rs. 7,800 cr black money

i. Government detected a whopping over Rs 7,800 crore of illegal monies within the country and abroad during 2013-14 as the elite Financial Intelligence Unit (FIU) found all-time high cases of suspicious transactions in the country’s economic channels.

ii. The agency also received a total of 87,79,082 Cash Transaction Reports (CTRs), 3,01,804 Counterfeit Currency Reports (CCRs) and 80,616 Non-Profit Organisation Transaction Reports (NTRs).

iii. CTR is fund movement of the value of more than Rs. 10 lakh in one tranche or a series of transactions internally connected to each other in either Indian currency or foreign in the country’s banking or any other channel.

iv. A CCR pertains to an instance of usage of fake currency in any bank by an entity while NTRs pertain to filing of dossiers by Non-Governmental and non-profit organisations with regard to their economic operations.

5. Anil Kapoor conferred with Master Deenanath Mangeshkar Award 2015

i. Bollywood actor Anil Kapoor conferred with prestigious Master Deenanath Mangeshkar Award 2015. 

ii. He was presented the award by noted historian and writer Babasaheb Purandare. Apart from Anil Kapoor, veteran Marathi actor Dilip Prabhavalkar was also bestowed with the prestigious Master Deenanath Mangeshkar Award 2015. 

iii. Master Dinanath Mangeshkar Award was instituted in 1999 in memory of Dinanath Mangeshkar, father of Lata Mangeshkar.

6. Ratan Tata picks up stake in Xiaomi

i. Iconic business leader Ratan Tata has acquired a stake in Chinese handset maker Xiaomi, the first investment by any Indian in the smartphone maker.

ii. Mr. Tata, who retired as head of over $100 billion conglomerate in December 2012 and currently serves as chairman emeritus of Tata Sons, has emerged as a major venture capital investor since his retirement.

iii. He has already made personal investments in homegrown e-commerce players like Snapdeal, Urban Ladder, Bluestone and Cardekho.com.

iv. In December last year, Xiaomi raised $1.1 billion, valuing the firm at $45 billion. Often touted as the ‘Apple of China’, the company has grown to become a major competition to global giants like Samsung and Apple.