Universal Stuf: Daily GK

Daily GK 30th November

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<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif";">Institution to replace Planning
Commission likely to be unveiled in Dec</span></b><span style="font-family: "Arial","sans-serif";"></span>
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<b><span style="font-family: "Arial","sans-serif";">i</span></b><span style="font-family: "Arial","sans-serif";">. Work has moved into top gear for finalising the name
and structure of the new institution that will replace the 64-year-old Planning
Commission and the same may be unveiled this December.</span><br />
<b><span style="font-family: "Arial","sans-serif";">ii</span></b><span style="font-family: "Arial","sans-serif";">. “The Prime Minister has convened a meeting of the Chief
Ministers on December 7 to seek their view points on the structure of the
institution which would ultimately replace the Planning Commission,” an
official source said.</span><br />
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<b><span style="font-family: "Arial","sans-serif";">iii. </span></b><span style="font-family: "Arial","sans-serif";">The Commission has received many
suggestions regarding the name and role of the<span class="apple-converted-space"> </span><span class="qkmd5d8m07"><span id="qkmd5d8m07_5" style="cursor: pointer; float: none; outline: none;">new body</span></span>.
Some of the suggested names are Sustainable Development Commission, National
Development Agency,<span class="apple-converted-space"> </span><span class="qkmd5d8m07"><span id="qkmd5d8m07_3" style="cursor: pointer; float: none; outline: none;">Social</span></span>Economic Development Commission or Bharat
Pragati Lakshya. Besides, there have been reports about the new body being
named Niti Aayog or<span class="apple-converted-space"> </span><span class="qkmd5d8m07"><span id="qkmd5d8m07_2" style="cursor: pointer; float: none; outline: none;">Policy</span></span><span class="apple-converted-space"> </span>Commission.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">iv. </span></b><span style="font-family: "Arial","sans-serif";">The new institution, which is likely to be headed by the
Prime Minister as was the case with the Planning Commission, may have four
divisions — an Inter-State council, plan evaluation office, UIDAI and DBT. All
the divisions would have experts from the Centre and State governments as also
experts from the industry.</span></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="background: #FDFDFD; font-family: "Arial","sans-serif";">Modi slips to
second spot in TIME's 'Person of the Year' poll</span></b><span style="font-family: "Arial","sans-serif";"></span></div>
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<b><span style="background: #FDFDFD; font-family: "Arial","sans-serif";">i. </span></b><span style="background: #FDFDFD; font-family: "Arial","sans-serif";">Prime Minister
Narendra Modi has slipped to the second place in the Time magazine's 'Person of
the Year' poll with the Ferguson protesters surging ahead of him in a vote by
the readers.</span></div>
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<b><span style="background: #FDFDFD; font-family: "Arial","sans-serif";">ii. </span></b><span style="background: #FDFDFD; font-family: "Arial","sans-serif";">As per latest
reports, Modi is leading second with 9.8 per cent of the total votes polled so
far while the Ferguson protesters are leading with 10.8 per cent of the votes.
Joshua Wong, face of the<span class="apple-converted-space"> </span></span><span class="qkmd5d8m07">Hong
Kong</span><span class="apple-converted-space"> pro-democracy
movement, is placed third.</span><span style="font-family: "Arial","sans-serif";"><br />
<b>iii.</b> <span class="qkmd5d8m07"><span style="background: #FDFDFD;">Nobel Peace</span></span></span><span class="apple-converted-space"><span style="background: #FDFDFD;"> </span><span style="background: #FDFDFD;">prize
winner Malala Yousafzai (5.3 per cent) and Russian President Vladimir Putin are
placed fourth and fifth respectively.<span class="apple-converted-space"> </span></span></span><br />
<b>iv.</b> <span style="background: #FDFDFD;">US President<span class="apple-converted-space"> </span></span><span class="qkmd5d8m07">Barack Obama</span><span class="apple-converted-space"> is placed at a distant 11th position
with just 2.4 per cent of the total votes. The annual poll, which is currently
underway, is scheduled to end on December 6 and the poll's winner will be
announced on December 8.<span class="apple-converted-space"> </span></span><br />
<b>v.</b> <span style="background: #FDFDFD;">However, it is the TIME's editors
who will choose the Person of the Year, which is scheduled to be announced on
December 10.<span class="apple-converted-space"> </span></span></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">3.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif";">Theatre personality Veenapani Chawla
passes away</span></b></div>
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<b><span style="font-family: "Arial","sans-serif";">i. Veenapani</span></b><span style="font-family: "Arial","sans-serif";"> Chawla, acclaimed theatre personality
and founder of the Adishakti Laboratory for Theatre Arts and Research near
Auroville, passed away on Sunday, following a sudden heart attack. She was 67.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">ii.</span></b><span style="font-family: "Arial","sans-serif";"> Her funeral is expected to be conducted on Monday at
Karuvadikuppam in Puducherry.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">iii.</span></b><span style="font-family: "Arial","sans-serif";"> Winner of the Sangeet Natak Akademi Puruskar for her
contribution to Indian theatre as a director, Chawla was considered a pioneer
of experimental theatre in India.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">iv.</span></b><span style="font-family: "Arial","sans-serif";"> She established Adishakti in 1981 and was also its
Managing Trustee and Artistic Director. Having directed most of Adishakti’s
performances and scripted half of them, her work has toured India and abroad.</span></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">4.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif";">Leviatha wons best film at IFF, Goa</span></b></div>
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<b><span style="font-family: "Arial","sans-serif";">i.</span></b><span style="font-family: "Arial","sans-serif";"> Russian<span class="apple-converted-space"> </span><span class="qkmd5d8m07"><span id="qkmd5d8m07_6" style="cursor: pointer; float: none; outline: 0px;">film</span></span><span class="apple-converted-space"> </span>“<span class="qkmd5d8m07"><span id="qkmd5d8m07_5" style="cursor: pointer; float: none; outline: 0px;">Leviathan</span></span>” by Andrey Zvyagintsev won the best
film award comprising Golden Peacock and Rs.40 lakh at the 45th<span class="apple-converted-space"> </span><span class="qkmd5d8m07"><span id="qkmd5d8m07_4" style="cursor: pointer; float: none; outline: 0px;">International</span></span><span class="apple-converted-space"> </span>film Festival of India, which ended in
Goa on Sunday.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">ii.</span></b><span style="font-family: "Arial","sans-serif";"> Mr. Alexey Serebryakov from the “Leviathan” also shared
the best male actor award in the Cimena of the World competition.</span></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">5.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif";">Book titled Letters for a Nation
written by Jawaharlal Nehru & Madhav Khosla</span></b></div>
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<b><span style="font-family: "Arial","sans-serif";">i</span></b><span style="font-family: "Arial","sans-serif";">. Book titled Letters for a Nation written by Jawaharlal
Nehru & Madhav Khosla was published by Allen Lane an imprint of Penguin
Books on 15 October 2014.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">ii.</span></b><span style="font-family: "Arial","sans-serif";"> The book contains Jawaharlal Nehru letters as Prime
Minister of India to the heads of the country’s provincial governments which he
kept a tradition till 1963.</span></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">6.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif";">Mumbai, Kolkata most vulnerable to
loss of life, properties due to coastal flood: un</span></b><span style="font-family: "Arial","sans-serif";"></span></div>
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<b><span style="font-family: "Arial","sans-serif";">i. </span></b><span style="font-family: "Arial","sans-serif";">India's populous coastal cities Mumbai and Kolkata are
most vulnerable to loss of life and properties due to coastal flooding in the
second half of the century.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">ii.</span></b><span style="font-family: "Arial","sans-serif";"> Quoting a UN report, the government has said India is
among the top 20 countries and regions most at risk based on analysis of
climate risk and coping ability.<span class="apple-converted-space"> </span></span></div>
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<b><span style="font-family: "Arial","sans-serif";">iii.</span></b><span style="font-family: "Arial","sans-serif";"> The statement assumes significance at a time when
representatives of governments are scheduled to meet in Lima from tomorrow for
the Climate Change Conference to lay the foundation for an effective, new and
universal climate change agreement in Paris in 2015. </span></div>
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<b><span style="font-family: "Arial","sans-serif";">iv.</span></b><span style="font-family: "Arial","sans-serif";"> With climate change impacts worsening and affecting the
poor and most vulnerable, governments urgently need to scale up adaptation to
climate change, says the United Nations Framework Convention on Climate Change
(UNFCCC).</span></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">7.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif";">IOC to set up greenfield refinery on
West coast</span></b><span style="font-family: "Arial","sans-serif";"></span></div>
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<b><span style="font-family: "Arial","sans-serif";">i.</span></b><span style="font-family: "Arial","sans-serif";"> Country's biggest oil company Indian Oil Corporation is
looking at setting up a greenfield refinery on the West coast as part of its
expansion plans.<br />
<b>ii.</b> Talking to reporters in Mumbai, Indian Oil Corporation Chairman B
Ashok said, with the growth in the economy, there is a need for green field
refinery by 2021-22.<br />
<b>iii.</b> After setting up of Paradip Refinery in East coast, focus is now on
setting up of a refinery in West coast region, for which suitable state and
place is being looked into.</span></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">8.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif"; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;">Dubai to invest $32-billion to
build world’s largest airport</span></b><span style="font-family: "Arial","sans-serif";"></span></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;">i. </span></b><span style="font-family: "Arial","sans-serif";">To further secure its position as the
world’s aviation hub, Dubai Airports is building a whopping USD 32—billion
greenfield airport at the upcoming Dubai World Central, 30 km off the present
international airport which already is the second busiest in the world.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">ii.</span></b><span style="font-family: "Arial","sans-serif";"> The proposed new airport will become the world’s largest
aviation facility on completion and will have five runways which all will be
simultaneously operational, all A380-compatible with a length of 4.5 km each.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">iii</span></b><span style="font-family: "Arial","sans-serif";">. On completion, the new airport will be the world’s
largest airport, with each concourse the size of seven football fields and have
five runways which all will be simultaneously operational, all
A380-compatible,” Mr. Baumann said.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">iv. </span></b><span style="font-family: "Arial","sans-serif";">The other features include 200 aircraft stands for wide
bodied aircraft, four concourses connected via six airport trains to two
terminals, which in turn will be linked to the city’s metro network.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">Note:</span></b><span style="font-family: "Arial","sans-serif";"> <span style="background: white;">The
Dubai International Airport is the world’s second busiest airport after the
London Heathrow and is on course to become the global aviation hub, thanks to
its geographical location and the availability of cheap fuel.</span></span></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">9.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif";">Gas price in India to dip to $5 in 3
years: Goldman Sachs</span></b></div>
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<b><span style="font-family: "Arial","sans-serif";">i. The</span></b><span style="font-family: "Arial","sans-serif";"> new<span class="apple-converted-space"> </span><span class="qkmd5d8m07"><span id="qkmd5d8m07_4" style="cursor: pointer; float: none; outline: none;">natural gas</span></span><span class="apple-converted-space"> </span>price
of USD 5.61, which is already among the lowest in Asia Pacific, is likely to
drop to around USD 5 per unit in three years due to the variables included in
the formula, Goldman Sachs has said.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">ii.</span></b><span style="font-family: "Arial","sans-serif";"> “While the Indian government introduced a new gas price
regime in October, we believe clear direction is needed on<span class="apple-converted-space"> </span><span class="qkmd5d8m07"><span id="qkmd5d8m07_2" style="cursor: pointer; float: none; outline: none;">gas pricing</span></span><span class="apple-converted-space"> </span>for higher—cost projects, such as
deepwater, to induce<span class="apple-converted-space"> </span><span class="qkmd5d8m07"><span id="qkmd5d8m07_1" style="cursor: pointer; float: none; outline: none;">more</span></span><span class="apple-converted-space"> </span>E&P
capex,” the global financial major said in a report.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">iii.</span></b><span style="font-family: "Arial","sans-serif";"> Stating that Indian prices for new projects are among
the lowest in Asia Pacific, Goldman said China pays explorers USD 11.9 per
mmBtu (million British Thermal Unit) rate for new projects while Indonesia and
the Philippines price the fuel at USD 11 and USD 10.5 respectively.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">iv. </span></b><span style="font-family: "Arial","sans-serif";">Gas from offshore fields in Myanmar, where Indian firms
ONGC and GAIL have stake, are sold to China for USD 7.72.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">v. </span></b><span style="font-family: "Arial","sans-serif";">Thailand prices gas from new projects at USD 8.2 per
mmBtu.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">vi. </span></b><span style="font-family: "Arial","sans-serif";">The only nations with lower rates are Vietnam (USD 5.2)
and Malaysia (USD 5), it said.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">10.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">  </span></span></b><b><span style="font-family: "Arial","sans-serif";">Sindhu bags Macau Open Grand Prix Gold
Badminton Title </span></b><span style="font-family: "Arial","sans-serif";"></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<div class="separator" style="clear: both; text-align: center;">
<a href="http://2.bp.blogspot.com/-Ogz_VyCkzNo/VHsePdVodKI/AAAAAAAAB78/q0jz3YNGvdA/s1600/Sindhu.jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="128" src="http://2.bp.blogspot.com/-Ogz_VyCkzNo/VHsePdVodKI/AAAAAAAAB78/q0jz3YNGvdA/s1600/Sindhu.jpg" width="200" /></a></div>
<b><span style="font-family: "Arial","sans-serif";">i</span></b><span style="font-family: "Arial","sans-serif";">. PV Sindhu today bagged the Macau Open Grand Prix Gold
Badminton title for the second consecutive time. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">ii. </span></b><span style="font-family: "Arial","sans-serif";">In the final, second seed Sindhu defeated Korean Kim Hyo
Min, 21-12, 21-17. This was Sindhu's first title this season. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">iii. In </span></b><span style="font-family: "Arial","sans-serif";">the semi-finals yesterday, second seed
Sindhu had defeated Busanan Ongbumrungpan of Thailand 21-14, 21-15.<br />
<b>iv. </b>In the Men's Singles, HS Prannoy had lost the semi-final. He went
down fighting against Hong Kong's Wong Wing Ki Vincent, 16-21, 21-16, 12-21.</span></div>
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</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">11.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">  </span></span></b><b><span style="font-family: "Arial","sans-serif";">Israeli cricket umpire dies after
being struck by ball</span></b><span style="font-family: "Arial","sans-serif";"></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">i. I</span></b><span style="font-family: "Arial","sans-serif";">n Israel, Hillel Oscar, 55, an umpire and former captain
of Israel's national cricket team died yesterday after being hit in the jaw by
a ball in the southern port city of Ashdod, the country's cricket association
said.<span class="apple-converted-space"> </span></span><br />
<b>ii</b>. His death comes just two days after Australian batsman Phillip
Hughes died of a severe head injury after being hit by a bouncer in a New South
Wales match in Sydney.<br />
<b>iii. </b>Israeli police ruled out foul play in the incident that led to the
death of the umpire. He was an international umpire.</div>
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</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">12.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">  </span></span></b><b><span style="font-family: "Arial","sans-serif";">Abhishek wins 76th Junior National
& Youth TT boys’ singles title</span></b><span style="font-family: "Arial","sans-serif";"></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">i. </span></b><span style="font-family: "Arial","sans-serif";">Petroleum Sports Promotion Board, PSPB's Abhishek Yadav
has won the boys' singles title in the 76th Junior National and Youth Table
Tennis Championships. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">ii.</span></b><span style="font-family: "Arial","sans-serif";"> In the final of the event at Alappuzha, Kerala, today,
he beat his team mate Sudhanshu Grover by Four games to One.<span class="apple-converted-space"> </span></span><br />
<b>iii.</b> In the youth girls singles, Manika Batra of the PSPB retained the
crown. Manav Thakkar of the PSPB Academy emerged champion in the Junior Boys'
section. Thus, it was a rare hat-trick of titles for the PSPB.</div>
</div>

Daily GK 30th November

1. Institution to replace Planning Commission likely to be unveiled in Dec i . Work has moved into top gear for finalising the name ...

Daily GK update 28th November 2014

0 Banking, Daily GK 11:02

<div dir="ltr" style="text-align: left;" trbidi="on">
<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif";">RBI issues final norms for payment,
small banks; Floor capital set at Rs 100 crore</span></b><span style="font-family: "Arial","sans-serif";"></span>
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="http://4.bp.blogspot.com/-CGOVOC8-tJE/VHiCTtN0qJI/AAAAAAAAB6k/U_Ux19aPuJg/s1600/Reserve%2Bbank%2Bof%2BIndia%2BRBI.jpg" style="clear: right; float: right; margin-bottom: 1em; margin-left: 1em;"><img border="0" height="148" src="http://4.bp.blogspot.com/-CGOVOC8-tJE/VHiCTtN0qJI/AAAAAAAAB6k/U_Ux19aPuJg/s1600/Reserve%2Bbank%2Bof%2BIndia%2BRBI.jpg" width="200" /></a></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">i. </span></b><span style="font-family: "Arial","sans-serif";">The Reserve Bank of India has issued final norms for
payment banks and small finance banks that would allow mobile firms and
supermarket chains, among others, to enter the banking arena to cater to
individuals and small businesses. The move aims at deepening financial
inclusion and boost saving habits.<span class="apple-converted-space"> </span></span></div>
<a href="https://www.blogger.com/null" name="more"></a><span class="apple-converted-space"><b><span style="font-family: "Arial","sans-serif";">ii.</span></b></span><span class="apple-converted-space"><span style="font-family: "Arial","sans-serif";"> </span></span><span style="font-family: "Arial","sans-serif";">The RBI aims to push financial
inclusion by setting up these niche outfits — small finance banks that can have
all-India operations and payments banks, which can accept more deposits.</span><br />
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<span class="apple-converted-space"><b><span style="font-family: "Arial","sans-serif";">iii.</span></b></span><span style="font-family: "Arial","sans-serif";"> The guidelines open up an window of
opportunity for entities which did not bag new bank licences in April.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<span class="apple-converted-space"><b><span style="font-family: "Arial","sans-serif";">iv.</span></b></span><span style="font-family: "Arial","sans-serif";"> Shriram Capital, Janalakshmi
Financial Services, Magma Fincorp and Muthoot Finance, among others, are
expected to throw their hats into the ring to set up small banks.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<span class="apple-converted-space"><b><span style="font-family: "Arial","sans-serif";">v.</span></b></span><span style="font-family: "Arial","sans-serif";"> The Department of Posts, Bharti
Airtel, Vodafone India, Tata Teleservices, Western Union and online digital
payment players such as Paytm, Oxigen and MobiKwik have expressed interest in
floating payment banks.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">vi</span></b><span style="font-family: "Arial","sans-serif";">. Companies will have to apply by January 16, 2015, for
licences in both categories, and the central bank said it would consider more
applications at a later stage.<span class="apple-converted-space"> </span></span><br />
<br /></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">Note: </span></b><span style="background: white; font-family: "Arial","sans-serif";">The minimum paid-up
equity capital for both small and payment banks has been pegged at Rs 100 crore.</span><b><span style="font-family: "Arial","sans-serif";"></span></b></div>
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</div>
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<b><span style="background: white; font-family: "Arial","sans-serif";">Who are eligible?</span></b><span style="font-family: "Arial","sans-serif";"></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="background: white; font-family: "Arial","sans-serif";">i</span></b><span style="background: white; font-family: "Arial","sans-serif";">. Eligible promoters
for a small bank include resident individuals/professionals with experience in
banking and finance; and companies and societies. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="background: white; font-family: "Arial","sans-serif";">ii.</span></b><span style="background: white; font-family: "Arial","sans-serif";"> Existing non-banking
finance companies (NBFCs), microfinance institutions and local area banks can
also opt to convert into a small bank. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="background: white; font-family: "Arial","sans-serif";">iii.</span></b><span style="background: white; font-family: "Arial","sans-serif";"> The RBI said
proposals from large public sector entities and industrial and business houses,
including NBFCs promoted by them, will not be entertained to set up small banks.</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="background: white; font-family: "Arial","sans-serif";">iv.</span></b><span style="background: white; font-family: "Arial","sans-serif";"> A promoter/promoter
group can have a joint venture with an existing scheduled commercial bank to
set up a payment bank, subject to the stake holding complying with the Banking
Regulation Act.</span></div>
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</div>
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<b><span style="background: white; font-family: "Arial","sans-serif";">Key activities</span></b><span style="font-family: "Arial","sans-serif";"><br style="outline: none;" />
<b>i.</b> <span style="background: white;">The small bank will primarily
undertake basic banking activities of <b>acceptance of deposits and lending to
un-served and</b> under-served sections, including small business units, small
and marginal farmers, micro and small industries and unorganised sector entities.</span></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="background: white; font-family: "Arial","sans-serif";">ii.</span></b><span style="font-family: "Arial","sans-serif";"> <span style="background: white;">Small
banks will be required to maintain a minimum capital adequacy ratio of 15 per
cent of the loans on a continuous basis.</span></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="background: white; font-family: "Arial","sans-serif";">iii.</span></b><span style="font-family: "Arial","sans-serif";"> <span style="background: white;">In the
draft guidelines, the RBI had suggested that small banks would have a
restricted area of operations (possibly contiguous districts in a homogenous
States). However, in the final guidelines, these restrictions have been
removed. The small bank will be required to extend 75 per cent of its credit to
the priority sector</span></span></div>
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</div>
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<b><span style="font-family: "Arial","sans-serif";">Payment Banks: </span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">i.</span></b><span style="font-family: "Arial","sans-serif";"> Payments banks can <b>accept deposits</b> — current and
savings bank — from individuals, small businesses and other entities but <b>cannot
provide</b> loans.. However, they cannot accept non-resident Indian deposits. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">ii.</span></b><span style="font-family: "Arial","sans-serif";"> The payment bank will initially be restricted to holding
a maximum balance of Rs1 lakh per individual customer. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">iii.</span></b><span style="font-family: "Arial","sans-serif";"> While the bank can issue ATM/debit cards, it cannot
issue credit cards.</span></div>
<div class="MsoListParagraphCxSpLast" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">iv.</span></b><span style="font-family: "Arial","sans-serif";"> It can contract outside liabilities (deposits) but not
exceeding 33.33 times (against 20 times in the draft guidelines) its net worth.</span></div>
<div class="MsoNormal" style="margin-bottom: 3.0pt; margin-left: 0in; margin-right: 0in; margin-top: 3.0pt;">
</div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif";">Economic growth declines to 5.3% in
July-Sept quarter</span></b><span style="font-family: "Arial","sans-serif";"></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">i. </span></b><span style="font-family: "Arial","sans-serif";">Country's economic growth has declined to 5.3 per cent
during July to September, from the previous quarter's 5.7 per cent. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">ii</span></b><span style="font-family: "Arial","sans-serif";">. According to an official release, the manufacturing
sector, which accounts for about 15 per cent of India's gross domestic product
rose by 0.1 per cent during the quarter from the previous period's 3.5 per
cent. Agriculture sector growth declined to 3.2 percent against 3.8 percent.</span></div>
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</div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto; mso-list: l0 level1 lfo1; text-indent: -.25in;">
<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">3.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif";">India, Mozambique ink MoU for
cooperation in oil, gas sector</span></b><span style="font-family: "Arial","sans-serif";"></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 3.0pt; margin-left: .25in; margin-right: 0in; margin-top: 3.0pt; mso-add-space: auto;">
<b><span style="font-family: "Arial","sans-serif";">i. </span></b><span style="font-family: "Arial","sans-serif";">India today signed a Memorandum of Understanding, MoU,
with Mozambique for cooperation in the field of oil and gas. The MoU was signed
in the presence of Minister of State for Petroleum and Natural Gas, Dharmendra
Pradhan in New Delhi.<span class="apple-converted-space"> </span></span><br />
<b>ii.</b> It seeks cooperation in the areas of upstream and downstream oil and
gas sector. Participation of Indian energy companies in the project will
facilitate access to Liquefied Natural Gas, LNG for the growing Indian gas
market.<span class="apple-converted-space"> </span><br />
<b>iii.</b> Mozambique has emerged as a significant hydrocarbon rich nation
following offshore gas discoveries in two adjacent offshore blocks. The country
is strategically located near India and is ideally suited for bringing natural
gas at market determined price.</div>
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<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">4.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif";">Anoop Mishra appointed as new
Secretary General of Lok Sabha</span></b></div>
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<b><span style="font-family: "Arial","sans-serif";">i</span></b><span style="font-family: "Arial","sans-serif";">. <span style="background: white;">Former Uttar Pradesh
chief secretary Anoop Mishra was on 26 November 2014 appointed as new Secretary
General of the Lok Sabha. He was appointed by Lok Sabha Speaker Sumitra
Mahajan.<span class="apple-converted-space"> </span></span></span><br />
<b>ii.</b> <span style="background: white;">He will hold the rank and status of
Cabinet Secretary with effect from 1 December 2014 up to 30 November 2016 or
until further orders.</span></div>
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<b><span style="background: white; font-family: "Arial","sans-serif";">iii.</span></b><span style="background: white; font-family: "Arial","sans-serif";"> As an accomplished
civil servant of 1978 cadre, Mishra has held several important positions at the
Centre and in Uttar Pradesh.</span><span style="font-family: "Arial","sans-serif";"><br style="border-radius: 0px !important;" />
<b><span style="background: white;">iv.</span></b><span style="background: white;"> He was the Chief Secretary of Uttar Pradesh for a
year with the overall responsibility of the state administration,
superintendence of law and order and developmental and infrastructure schemes
in Uttar Pradesh.</span></span></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">5.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif";">Historian Tapan Raychaudhuri died</span></b></div>
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<b><span style="font-family: "Arial","sans-serif";">i. <span style="background: white;">Tapan</span></span></b><span style="background: white; font-family: "Arial","sans-serif";"> Raychaudhuri, a
distinguished historian of modern India’s economic and social history, died on
26 November 2014 at his home in Oxford, England. He was 88.<span class="apple-converted-space"> </span></span><span style="font-family: "Arial","sans-serif";"><br style="border-radius: 0px !important;" />
<b>ii.</b> <span style="background: white;">Raychaudhuri died of a series of
strokes. He was bedridden for a year before his death. He is survived by his
wife Pratima Raychaudhuri and daughter Sukanya Wignaraja.</span></span></div>
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<b><span style="background: white; font-family: "Arial","sans-serif";">iii. </span></b><span style="background: white; font-family: "Arial","sans-serif";">He was an Indian
historian specialising in British Indian history, Indian economic history and
the History of Bengal</span><span style="font-family: "Arial","sans-serif";"></span></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">6.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">   </span><span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal;"> </span></span></b><span style="font-family: "Arial","sans-serif";"><b>Namsai became the 18th district of
Arunachal Pradesh</b></span></div>
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<b><span style="font-family: "Arial","sans-serif";">i.</span></b><span style="font-family: "Arial","sans-serif";"> Namsai on 25 November 2014 officially became the 18th
district of Arunachal Pradesh. The Chief Minister of Arunachal Pradesh Nabam
Tuki made the declaration.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">ii</span></b><span style="font-family: "Arial","sans-serif";">. The Chief Minister exhorted the officials to prepare a
master plan for the new district and the state government would extend all
possible help.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">iii. </span></b><span style="font-family: "Arial","sans-serif";">The State Legislative Assembly passed
the District re-organisation Bill on 20 March 2013 for creation of Namsai
district and notification was issued on 15 July 2013. The formal announcement
was made during the 68th Independence Day celebration on 15th August 2014.</span></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">7.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif";">EU parliament votes to break up Google</span></b></div>
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<b><span style="font-family: "Arial","sans-serif";">i.</span></b><span style="font-family: "Arial","sans-serif";"> European Union lawmakers overwhelmingly backed a motion
on Thursday urging anti-trust regulators to break up Google, the latest setback
for the world's most popular internet search engine.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">ii.</span></b><span style="font-family: "Arial","sans-serif";"> Google has been in the EU's regulatory sights since
2010, and is also grappling with privacy issues, requests to scrub search
results to comply with a court ruling, copyright concerns and tax
controversies.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">iii.</span></b><span style="font-family: "Arial","sans-serif";"> The non-binding resolution in the European Parliament is
the strongest public signal yet of Europe's concern with the growing power of
US tech giants. It was passed with 384 votes for and 174 against.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">iv.</span></b><span style="font-family: "Arial","sans-serif";"> Google declined to comment. European Competition
Commissioner Margrethe Vestager has said she will review the case and talk to
complainants before deciding on the next step.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">v.</span></b><span style="font-family: "Arial","sans-serif";"> Her predecessor rejected three attempts by the company
to settle complaints that it unfairly demoted rival services and stave off a
possible fine of up to $5 billion.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">vi.</span></b><span style="font-family: "Arial","sans-serif";"> The resolution did not mention Google or any specific
search engine, though Google is by far the dominant provider of such services
in Europe with an estimated 90 per cent market share.</span></div>
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<b><span style="font-family: "Arial","sans-serif";">vii.</span></b><span style="font-family: "Arial","sans-serif";"> The lawmakers called on the Commission to consider
proposals to unbundle search engines from other commercial services.</span></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">8.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif"; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;">Book titled Your Dreams Are Mine
Now: She Showed him What Love was released</span></b><span style="font-family: "Arial","sans-serif";"></span></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-bidi-language: HI; mso-fareast-font-family: "Times New Roman"; mso-font-kerning: 18.0pt;">i. </span></b><span style="background: white; font-family: "Arial","sans-serif";">The book titled Your
Dreams Are Mine Now: She Showed him What Love was authored by Ravinder Singh
was released on 20 November 2014.<span class="apple-converted-space"> </span></span><span style="font-family: "Arial","sans-serif";"><br style="border-radius: 0px !important;" />
<b>ii.</b> <span style="background: white;">The novel Your Dreams are Mine Now is
a powerful and poignant love story that explores the romantic relationship
between Rupali and Arun. They are complete opposites and have nothing in common
when it comes to their interests and priorities in life.<span class="apple-converted-space"> </span></span></span></div>
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<span class="apple-converted-space"><b><span style="background: white; font-family: "Arial","sans-serif";">iii.</span></b></span><span class="apple-converted-space"><span style="background: white; font-family: "Arial","sans-serif";"> </span></span><span style="background: white; font-family: "Arial","sans-serif";">Rupali is a small
town girl and an idealist, whereas Arun is a Delhi guy with keen interest in
youth politics. A major scandal on the college campus brings them together and
somewhere along the line they fall in love with each other. But their fight
against evil comes at a heavy price which becomes the ultimate test of their
lives.</span><span style="font-family: "Arial","sans-serif";"></span></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">9.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: "Arial","sans-serif";">Book titled Black Tornado: The Three
Sieges of Mumbai 26/11 released</span></b></div>
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<b><span style="background: white; font-family: "Arial","sans-serif";">i.</span></b><span style="background: white; font-family: "Arial","sans-serif";"> The book titled
Black Tornado: The Three Sieges of Mumbai 26/11 authored by Sandeep Unnithan
was released on 23 November 2014.</span><span style="font-family: "Arial","sans-serif";"><br style="border-radius: 0px !important;" />
<b>ii.</b> <span style="background: white;">Sandeep Unnithan in his book puts
together a blow-by-blow account of the 26 November 2011 terrorist attack in
Mumbai and how the siege of Mumbai was thwarted by India's security forces.</span></span><br />
<b>iii.</b> <span style="background: white;">The 26/11 attack is widely regarded
as the world's first hybrid terrorist attack. The attackers achieved through
this long-drawn siege what Al Qaeda did through the high-visibility
mass-casualty attack on the World Trade Centre of USA on 11 September 2001.<span class="apple-converted-space"> </span></span></div>
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<b><span style="font-family: "Arial","sans-serif"; mso-fareast-font-family: Arial;">10.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">  </span></span></b><b><span style="font-family: "Arial","sans-serif";">Crime novelist PD James died at the
age of 94</span></b></div>
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<b><span style="font-family: "Arial","sans-serif";">i.</span></b><span style="font-family: "Arial","sans-serif";"> <span style="background: white;">Crime novelist Phyllis
Dorothy James on 27 November 2014 died at the age of 94 in Oxford, UK. </span></span></div>
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<b><span style="background: white; font-family: "Arial","sans-serif";">ii.</span></b><span style="background: white; font-family: "Arial","sans-serif";"> She was best known
for her series of detective novels starring the policeman and poet Adam
Dalgliesh.</span></div>
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<b><span style="background: white; font-family: "Arial","sans-serif";">iii</span></b><span style="background: white; font-family: "Arial","sans-serif";">. Her novels include
The Children of Men, The Murder Room and Pride, and Prejudice spin-off Death
Comes to Pemberley.</span></div>
</div>

Daily GK update 28th November 2014

1. RBI issues final norms for payment, small banks; Floor capital set at Rs 100 crore i. The Reserve Bank of India has issued fina...

27th November 2014 Daily GK update

0 Daily GK 11:57

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<b><span style="font-family: Arial, sans-serif;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: Arial, sans-serif;">18th SAARC Summit concluded, Next Summit will be held in Islamabad in 2016<o:p></o:p></span></b></div>
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<b><span style="font-family: Arial, sans-serif;">i. </span></b><span style="font-family: Arial, sans-serif;">With the issuing of Kathamandu Declaration, the 18th SAARC Summit concludes at Kathamandu, this evening. Chairperson of the Summit and Nepal Prime Minister Sushil Koirala declared the Summit closed.</span></div>
<a href="https://www.blogger.com/null" name="more" style="font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 12px;"></a><span style="background-color: white; font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 12px;"></span><o:p style="font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 12px;"></o:p><br style="font-family: Arial, Tahoma, Helvetica, FreeSans, sans-serif; font-size: 12px;" />
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<b><span style="font-family: Arial, sans-serif;">ii.</span></b><span style="font-family: Arial, sans-serif;"> The SAARC Framework Agreement on Energy (Electricity) Cooperation was signed among the SAARC member countries. Chairperson Sushil Koirala also announced that the 19th SAARC Summit will be held at Islamabad in 2016</span><o:p></o:p></div>
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<b><span style="font-family: Arial, sans-serif;">iii.</span></b><span style="font-family: Arial, sans-serif;"> Earlier, Prime Minister Narendra Modi and other SAARC members held informal talks at the Retreat Session of 18th South Asian Association of Regional Cooperation Summit (SAARC) at picturesque Dhulikhel under foolproof security arrangements. Mr. Modi planted sapling of banyan tree at the venue.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: Arial, sans-serif;">SAARC nations sign seamless electricity grid deal<o:p></o:p></span></b></div>
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<b><span style="font-family: Arial, sans-serif;">i</span></b><span style="font-family: Arial, sans-serif;">. In a face saver, SAARC countries today signed a framework agreement on cooperation in power sector but failed to finalise the much-awaited motor vehicle and railway pacts for greater people-to-people contact and movement of goods due to opposition from Pakistan.<b><o:p></o:p></b></span></div>
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<b><span style="font-family: Arial, sans-serif;">ii. </span></b><span style="font-family: Arial, sans-serif;">There were hectic efforts to pursue the Pakistani side, which stalled the inking of the pacts on the pretext that internal processes were not completed following which three months' time was set for getting approval.<b><o:p></o:p></b></span></div>
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<b><span style="font-family: Arial, sans-serif;">iii. </span></b><span style="font-family: Arial, sans-serif;">The framework energy pact will enable cooperation in the power sector among the eight member countries and facilitate integrated operation of the regional power grid.<b><o:p></o:p></b></span></div>
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<b><span style="font-family: Arial, sans-serif;">iv. "</span></b><span style="font-family: Arial, sans-serif;">A time period of three months have been set for approval to the Motor Vehicle and Railway pacts," Nepal's Prime Minister Sushil Koirala, who is also the SAARC chair, said in his address at the concluding session of the 18th summit of the regional grouping<b>.<o:p></o:p></b></span></div>
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<b><span style="font-family: Arial, sans-serif;">3.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: Arial, sans-serif;">Australian cricketer Phil Hughes dies of injuries<o:p></o:p></span></b></div>
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<b><span style="font-family: Arial, sans-serif;">i. </span></b><span style="font-family: Arial, sans-serif;">Once compared to the great Donald Bradman, Australia Test cricketer Phillip Hughes passed away today in Sydney following a fatal injury he had incurred in a Sheffield Shield match on Tuesday. Hughes would have <b>turned 26 on Sunday.<o:p></o:p></b></span></div>
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<b><span style="font-family: Arial, sans-serif;">ii</span></b><span style="font-family: Arial, sans-serif;">. During this game for South Australia against New South Wales, Hughes was batting on 63 when he was struck on neck by a bouncer from pace bowler Sean Abbott.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">iii</span></b><span style="font-family: Arial, sans-serif;">. Hughes stood dazed for a few moments before falling face first to the pitch. He did not gain consciousness again.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">iv</span></b><span style="font-family: Arial, sans-serif;">. "It is my sad duty to inform you that a short time ago Phillip Hughes passed away," Australian team doctor Peter Brukner said in a statement.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">v</span></b><span style="font-family: Arial, sans-serif;">. "He never regained consciousness following his injury on Tuesday," added Brukner. "He was not in pain before he passed and was surrounded by his family and close friends.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">vi</span></b><span style="font-family: Arial, sans-serif;">. As a cricket community we mourn his loss and extend our deepest sympathies to Phillip's family and friends at this incredibly sad time."<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">vii.</span></b><span style="font-family: Arial, sans-serif;"> "Phillip took the blow at the side of the neck and as a result of that blow his vertebral artery, one of the main arteries leading to the brain, was compressed by the ball," Brukner said on Thursday. "That caused the artery to split and for bleeding to go up into the brain. He had a massive bleed into his brain. This is frequently fatal at the time.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">Hughes was wearing old, lighter helmet: manufacturer<o:p></o:p></span></b></div>
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<b><span style="font-family: Arial, sans-serif;">i</span></b><span style="font-family: Arial, sans-serif;">. With questions being raised over the degree of safety provided by protective gears in cricket in the wake of the Phil Hughes incident, the manufacturer of the injured cricketer’s helmet, Masuri, has said that the Australian batsman was wearing an older and lighter headgear.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">ii.</span></b><span style="font-family: Arial, sans-serif;"> A spokesman for the UK-based company said that Hughes was wearing an old helmet instead of their their latest model, in the Sheffield Shield match between New South Wales and South Australia at the SCG on Tuesday.<b><o:p></o:p></b></span></div>
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<b><span style="font-family: Arial, sans-serif;">iii. </span></b><span style="background: white; font-family: Arial, sans-serif;">“From the footage and pictures currently available to Masuri, it appears that Phil Hughes was struck by the ball to the rear of the grille and below the back of the shell, missing his Masuri Original Test model helmet,” the spokesman was quoted as saying by Australian press.</span><o:p></o:p></div>
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<b><span style="font-family: Arial, sans-serif;">iv. </span></b><span style="font-family: Arial, sans-serif;">Hughes continued to fight for life as he remained in a critical condition after being struck on the head in a freak accident on Tuesday.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">4.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: Arial, sans-serif;">Justice CK Prasad assumes charge as new PCI chief<o:p></o:p></span></b></div>
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<b><span style="font-family: Arial, sans-serif;">i.</span></b><span style="font-family: Arial, sans-serif;"> Retired Supreme Court judge, Justice CK Prasad, Thursday assumed charge as the chairman of the Press Council of India (PCI), an official statement said.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">ii.</span></b><span style="font-family: Arial, sans-serif;"> "Justice C.K. Prasad who retired as the judge of the Supreme Court of India July 14, 2014 assumed charge today (Thursday) as chairman, Press Council of India," said the PCI statement.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">iii.</span></b><span style="font-family: Arial, sans-serif;"> Justice Prasad succeeds Justice Markandey Katju who was appointed as PCI chairman Oct 5, 2011.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">5.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: Arial, sans-serif;">Sanskrit to be 3rd language in Classes 6-8 in KV: Centre to SC<o:p></o:p></span></b></div>
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<b><span style="font-family: Arial, sans-serif;">i.</span></b><span style="font-family: Arial, sans-serif;"> Centre on Thursday submitted before the Supreme Court that Sanskrit will be the third language in classes 6 to 8 in Kendriya Vidyalayas.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">ii.</span></b><span style="font-family: Arial, sans-serif;"> Appearing before the bench headed by Chief Justice H L Dattu, Attorney General Mukul Rohatgi sought its permission to file an affidavit on the controversy arising out of Centre's decision to drop German as an alternative to Sanskrit as third language in Kendriya Vidyalayas<o:p></o:p></span></div>
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thanks bankers adda</div>
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<b><span style="font-family: Arial, sans-serif;">6.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: Arial, sans-serif;">President penned a book titled The Dramatic Decade on 1970s era<o:p></o:p></span></b></div>
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<b><span style="font-family: Arial, sans-serif;">i.</span></b><span style="font-family: Arial, sans-serif;"> <span style="background: white;">President of India Pranab Mukherjee penned a book titled The Dramatic Decade: The Indira Gandhi Years.<o:p></o:p></span></span></div>
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<b><span style="background: white; font-family: Arial, sans-serif;">ii.</span></b><span style="background: white; font-family: Arial, sans-serif;"> The book has been published by Rupa and will be released on 11 December 2014.</span><o:p></o:p></div>
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<b><span style="background: white; font-family: Arial, sans-serif;">iii.</span></b><span style="background: white; font-family: Arial, sans-serif;"> The Dramatic Decade is the first of a three-part volume; the second one will be on the years from 1981–88 and the third volume will be from 1988 to 2012.</span><o:p></o:p></div>
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<b><span style="background: white; font-family: Arial, sans-serif;">iv.</span></b><span style="background: white; font-family: Arial, sans-serif;"> The book presents an exceptional portrait of a complex nation and draws from Pranab Mukherjee’s personal diary extracts, conversations with key players of the 1970s, and vital secondary literature.</span><o:p></o:p></div>
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<b><span style="font-family: Arial, sans-serif;">7.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: Arial, sans-serif;">Biography My Name is Abu Salem released<o:p></o:p></span></b></div>
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<b><span style="font-family: Arial, sans-serif;">i. </span></b><span style="background: white; font-family: Arial, sans-serif;">Biography titled My Name is Abu Salem was released on 16 November 2014.<o:p></o:p></span></div>
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<b><span style="background: white; font-family: Arial, sans-serif;">ii.</span></b><span style="background: white; font-family: Arial, sans-serif;"> Biography on underworld gangster Abu Salem has been written by <b>S Hussain Zaidi</b> and published by Penguin.  </span><o:p></o:p></div>
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<b><span style="background: white; font-family: Arial, sans-serif;">iii.</span></b><span style="background: white; font-family: Arial, sans-serif;"> The author of the book, Zaidi who knows the Mumbai underworld better than anyone else has tried to tell, the life of Salem.<o:p></o:p></span></div>
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<b><span style="background: white; font-family: Arial, sans-serif;">iv.</span></b><span style="background: white; font-family: Arial, sans-serif;"> In My Name is Abu Salem, the author has tried to present complete unknown details and first accounts of the gangster.</span><o:p></o:p></div>
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<b><span style="font-family: Arial, sans-serif;">8.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: Arial, sans-serif;">PNB announces free ATM usage for customers<o:p></o:p></span></b></div>
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<b><span style="font-family: Arial, sans-serif;">i. </span></b><span style="font-family: Arial, sans-serif;">Punjab National Bank (PNB) on Wednesday said it will continue giving free transactions to all saving bank account cardholders using PNB ATMs, irrespective of the number of transactions.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">ii</span></b><span style="font-family: Arial, sans-serif;">. The Reserve Bank of India (RBI) had advised that atleast five free transactions (inclusive of financial and non-financial transaction) per month should be permitted to the savings bank account holders for use of own bank ATMs.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">iii. </span></b><span style="font-family: Arial, sans-serif;">PNB has gone beyond this norm to provide value added services to its own customers, according to a release. .  <o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">9.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">    </span></span></b><b><span style="font-family: Arial, sans-serif;">RBI eases rules for low-cost home loans<o:p></o:p></span></b></div>
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<b><span style="font-family: Arial, sans-serif;">i</span></b><span style="font-family: Arial, sans-serif;">. To provide liquidity to retail investors investing in long-term bonds issued by banks for financing infrastructure and affordable housing, the Reserve Bank of India said banks can extend loans to individuals against these bonds.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">ii.</span></b><span style="font-family: Arial, sans-serif;"> The central bank said boards of the banks should lay down a policy in this regard prescribing suitable margins, purpose of the loan and other safeguards.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">iii.</span></b><span style="font-family: Arial, sans-serif;"> Further, such loans should be subject to a ceiling, say,<span class="apple-converted-space"><span style="outline: none;"> </span><span class="webrupee">Rs.</span><span class="apple-converted-space"> </span></span>10 lakh per borrower, and tenure of loan should be within the maturity period of the bonds.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">iv.</span></b><span style="font-family: Arial, sans-serif;"> The RBI also stated that banks are not permitted to lend against such bonds issued by other banks.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">10.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">  </span></span></b><b><span style="font-family: Arial, sans-serif;">Bharat Asmita award for IIMB’s Trilochan Sastry<o:p></o:p></span></b></div>
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<b><span style="font-family: Arial, sans-serif;">i.</span></b><span style="font-family: Arial, sans-serif;"> Trilochan Sastry, Professor in Quantitative Methods and Information Systems, Indian Institute of Management Bangalore (IIMB), has been awarded the ‘Bharat Asmita’, an honor instituted by the Pune-based MIT group of institutions.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">ii.</span></b><span style="font-family: Arial, sans-serif;"> Professor Trilochan Sastry teaches a wide variety of courses in the post graduate programme, doctoral programme and executive education programmes, including operations management, quantitative methods, data structures, algorithms and discrete mathematics, at IIMB.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">iii.</span></b><span style="font-family: Arial, sans-serif;"> Professor Sastry has, to his credit, a number of management cases on operations management, ethics, change management and electoral reforms.<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">iv.</span></b><span style="font-family: Arial, sans-serif;"> Announcing the awards for 2014, ‘Bharat Asmita’ Executive Director Rahul Karad said: “This is the eleventh year of the awards, which aim at recognizing the contribution of prominent figures from the field of teaching, people’s representation, public awareness and science and technology.”<o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">11.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">  </span></span></b><b><span style="font-family: Arial, sans-serif;">Pakistani actress Veena Malik sentenced to 26 years in jail for blasphemy<o:p></o:p></span></b></div>
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<b><span style="font-family: Arial, sans-serif;">i</span></b><span style="font-family: Arial, sans-serif;">. <span style="background: white;">Pakistani actress Veena Malik was sentenced to 26 years in jail on 26 November 2014 by an Anti-Terrorism Court (ATC) of the Gilgit region of Pakistan.<span class="apple-converted-space"> </span></span></span><br />
<b>ii. </b><span style="background: white;">She was sentenced for blasphemy for appearing in mock Geo TV wedding scene in which religious song about the wedding of the Prophet Muhammad's daughter was played in background.<span class="apple-converted-space"> </span><o:p></o:p></span></div>
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<span class="apple-converted-space"><b><span style="background: white; font-family: Arial, sans-serif;">iii. </span></b></span><span style="background: white; font-family: Arial, sans-serif;">Apart from Veena Malik, the court’s Judge Shahbaz Khan also sentenced Mir Shakil-ur-Rahman, owner of Geo TV and Jang group, Malik’s husband Asad Bashir Khan and TV host Shaista Wahidi for 26 years each.</span><o:p></o:p></div>
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<b><span style="background: white; font-family: Arial, sans-serif;">iv. </span></b><span style="background: white; font-family: Arial, sans-serif;">The ATC also imposed a 1.3 million Pakistani rupees fine on the convicts and ordered that their properties should be sold to raise the fine, if they failed to pay it.<span class="apple-converted-space"> </span></span><span style="font-family: Arial, sans-serif;"><o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">12.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-stretch: normal; font-weight: normal;">  </span></span></b><b><span style="font-family: Arial, sans-serif;">Chennai Super Kings should be terminated: SC</span></b><span style="font-family: Arial, sans-serif;"><o:p></o:p></span></div>
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<b><span style="font-family: Arial, sans-serif;">i. </span></b><span style="background: white; font-family: Arial, sans-serif;">The Supreme Court today observed that IPL team Chennai Super Kings, CSK, owned by BCCI President in exile N Srinivasan should be terminated without further enquiry as one of its officials Gurunath Meiyappan has been indicted for betting by an inquiry committee.</span><o:p></o:p></div>
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<b><span style="background: white; font-family: Arial, sans-serif;">ii.</span></b><span style="background: white; font-family: Arial, sans-serif;"> Meiyappan is the son-in-law of Srinivasan who is himself facing questions on conflict of interest. The court asked Srinivasan to give details about who controls Chennai Super Kings owned by India Cements. Srinivasan is the Managing Director of India Cements.<span class="apple-converted-space"> </span><o:p></o:p></span></div>
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<span class="apple-converted-space"><b><span style="background: white; font-family: Arial, sans-serif;">iii.</span></b></span><span class="apple-converted-space"><span style="background: white; font-family: Arial, sans-serif;"> </span></span><span style="background: white; font-family: Arial, sans-serif;">In further setback for Srinivasan, the Supreme Court proposed fresh elections in the BCCI. The apex court, which was hearing the Justice Mudgal Committee report into IPL betting and spot-fixing scandal, said election can be held but persons, including Srinivasan, named in the report will not contest and new board will take decision on the scam.<span class="apple-converted-space"> </span></span><span style="font-family: Arial, sans-serif;"><o:p></o:p></span></div>
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27th November 2014 Daily GK update

1. 18th SAARC Summit concluded, Next Summit will be held in Islamabad in 2016 i. With the issuing of Kathamandu Declaration, the...