Daily GK Potion – 19th to 21st August 2015

1. Pranab Mukherjee’s wife passes away
   • President Pranab Mukherjee’s wife, Suvra Mukherjee, passed away at 10.51 a.m. on Tuesday.
   • She had been ill for sometime and had complained of respiratory problems recently.
   • She was a vocalist of Rabindra Sangeet and performed in the poet’s dance-dramas for long years not only in different parts of India, but also in Europe, Asia and Africa.
   • Ms Mukherjee has written two books: Chokher Aloey which is a personal account of her close interaction with Smt. Indira Gandhi and Chena Achenai Chin – a travelogue recounting her visit to China.
2. SBI launches mobile wallet app ‘Buddy’
   • Country’s largest lender State Bank of India on Tuesday launched a mobile wallet app, SBI Buddy, in collaboration with Accenture and Mastercard.
   • The service will be available to existing as well as non-SBI customers.
   • State Bank of India also launched SBI Foundation, which will be the implementing agency for corporate social responsibility (CSR) activities of the lender.
3. Modi surprises with Rs. 1.25-lakh cr. Largesse in Bihar
   • Ahead of the Assembly elections in Bihar, Prime Minister Narendra Modi announced a package of Rs. 1.25 lakh crore for the State.
   • The Union government has launched several road and power projects estimated at Rs. 40,000 crore in the State.
   • Over 21,000 crore rupees will be allocated for expansion of Barauni Refinery and setting up of new Petrochemical Plant along with construction of Gas pipelines and massive expansion in domestic LPG connections.
   • 16,000 crore rupees will be earmarked for electrification of villages and towns and over 3000 crore rupees for farmers welfare.
4. LIC to launch maiden ULIP product
   • State-run insurer Life Insurance Corporation of India (LIC) will launch its maiden unit linked insurance plan (ULIP) product across the country.
   • Endowment Plus, a ULIP will offer investment cum insurance during the term policy and provide due benefit of risk cover and benefits of investment markets
   • Policy holders will have options to choose from any of the four funds — bond fund, secured fund, balance fund and growth fund — and also with added conveniences of switching between these funds
5. RBI grants “in-principle” approval to 11 Applicants for Payments Banks
   • The Reserve Bank of India has decided to grant “in-principle” approval to the following 11 applicants to set up payments banks under the Guidelines for Licensing of Payments Banks issued on November 27, 2014 (Guidelines).
   • Aditya Birla Nuvo Limited
   • Airtel M Commerce Services Limited
   • Cholamandalam Distribution Services Limited
   • Department of Posts
   • Fino PayTech Limited
   • National Securities Depository Limited
   • Reliance Industries Limited
   • Shri Dilip Shantilal Shanghvi
   • Shri Vijay Shekhar Sharma
   • Tech Mahindra Limited
   • Vodafone m-pesa Limited
   • A payment banks differs from conventional banks as it cannot lend to its customers. It is allowed to take deposits, allow remittances and provide simple financial products.
   • The payment bank will need to invest 75 percent of its funds in government securities. The minimum capital needed to set up a payments bank is set at Rs 100 crore. The bank will be allowed to accept savings deposits of up to Rs 1 lakh from each customer.
6. Former Olympic champion Sebastian Coe from United Kingdom has been elected as President of International Association of Athletics Federations (IAAF).
7. Bangladesh has won maiden Under-16 South Asian Football Federation (SAFF) championship title 2015.
8. Union Tourism Ministry will soon confer the title of ‘Twin National Heritage Cities’ on the temple towns of Rishikesh and Haridwar.
9. Eminent Historian writer Babasaheb Purandare has been conferred with Maharashtra Bhushan Award 2015.
10. Bangladesh novelist Zia Haider Rahman has won James Tait Black award 2015, UK’s oldest literary prize for his first novel, In the Light of What We Know.
11. HP Government launches RISHTA project
    • Himachal Pradesh Government has launched Rajiv Gandhi Illuminating Scheme for Hill Town Advancement (RISHTA) project, which is an efficient smart LED based street lighting project.
    • With this Himachal Pradesh becomes first state in North India to do so.
12. Union Government has appointed Ashwani Lohani as Chairman and Managing Director (CMD) of state owned national carrier Air India Ltd.
13. Cochin International Airport Ltd (CIAL) of Kerala has become the first airport in the world to fully operate on solar power.
14. Bangladesh has become the first country in the world to receive funds from United Nations for its fast growing Solar Home Systems

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