Daily GK Potion – 2nd to 5th January 2016


  1. Lodha Panel recommends legalisation of betting
    • Former Chief Justice of India, R.M. Lodha, submitted his report on the various aspects of reforms in the BCCI to the Supreme Court on Monday.
    • The report culminates the panel’s exhaustive investigations into how the game is run in the country and what could be done to ensure that transparency and accountability is the rule and not the exception in the administration of cricket in India.
    • No BCCI office-bearer can hold two posts at the same time as per report.
    • No BCCI office-bearer can hold office for more than 3 terms with the rider that there will be a cooling off after each term, says Lodha panel.
    • It proposed the constitution and establishment of a players association.
    • It recommended separate governing bodies for the IPL and BCCI.
  2. RBI imposes Rs. 1 crore fine on State Bank of Travancore
    • Reserve Bank has imposed a penalty of Rs. 1 crore on an SBI associate bank, State Bank of Travancore, for violation of some of its instructions.
    • The monetary penalty has been imposed for violation of its instructions including reporting of data to Central Repository of Information on Large Credits (CRILC)
    • RBI set up CRILC to collect, store, and disseminate data on all borrowers’ credit exposures.
    • Banks are required to report all such information here, including classification of an account as SMA (Special Mention Accounts)
  3. Friendship bus service between India-Nepal resumes
    • A friendship bus service between India and Nepal via Champawat in Uttarakhand resumed today after a gap of 27 years, much to the delight of people on either side of the border who have family and trade ties with each other
    • The service had been suspended 27 years back in the wake of the Indo-Nepal Trade and Transit Treaty
    • No special documents are required to travel in these buses which provides free wi-fi connectiviy and a bottle of mineral water for free to the passengers
  4. NABARD, NRSC ink pact for monitoring of watershed projects
    • Monitoring of watershed projects, especially in remote villages will now be improved with the use of satellite technology and web page.
    • Facilitating this is an MoU signed between the NABARD and the NRSC
    • As per the MoU, the National Remote Sensing Centre (NRSC) will create a separate web page for NABARD on its BHUVAN portal, develop customized software tool and mobile application for real time monitoring, online comparison and visualization with respect to activities implemented in the projects
  5. Wipro names Abidali Neemuchwala as new CEO
    • IT major Wipro, India’s third largest IT services exporter with revenues of $7 billion, on Monday elevated chief executive officer (CEO) T K Kurien as its new executive vice-chairman (V-C) while appointing current chief operating officer (COO) Abidali Neemuchwala CEO and member of the board
    • Neemuchwala who was a surprise entry into Wipro as the COO was given the task of streamlining and simplifying the delivery side of the business.
  6. Telangana launched e-Vahan Bima Scheme
    • Government of Telangana has launched e-Vahan Bima Scheme to issue motor insurance policy in digital form.
    • With the launch of this scheme, Telangana became the first state in the country to legally accept motor vehicle insurance policy in digital form.
    • Under the scheme, an electronic motor insurance policy is issued in digital form with Quick Response (QR) code.
    • The QR code will be used to scan for verification of policy details.
    • An SMS-based verification was also installed. It can be stored and accessed on smart phones to make the process of verification easier for commuters as well as police.
  7. Government to roll out LPG-like DBT scheme for kerosene from April 1
    • After the success of paying subsidy to LPG users in their bank accounts, the government will from April 1 roll out a similar programme for kerosene where the users will buy the cooking fuel at market rate but will get financial support directly in their bank accounts.
    • The cash subsidy to be paid to users will be equivalent to the difference between current PDS price of about Rs 12 and market rate of Rs 43 per litre.
    • The move will help curtail subsidy outgo for kerosene, which in 2014-15 was about Rs 24,799 crore.

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