DAILY GK UPDATE 29TH JUNE

 1.    7th Statistics Day observed today

i. Today is Statistics Day - seventh in a row since 2007.  

ii. This day calls for strengthening our resolve to revamp the statistical system.

iii. The theme chosen for the 7th Statistics Day, “Labour & Employment Statistics” is extremely relevant in the context of our State where unemployment is a social issue of serious concern.

iv. Every year this day is observed to mark the birth anniversary of Professor Prasanta Chandra Mahalanobis in recognition of his contribution to the field of Economic Planning and Statistic. 

v. Our country has produced many great statisticians but there is hardly any match to Prof Mahalanobis. He was born this day in 1893 in Kolkata.  He grew up in a socially active family surrounded by intellectuals and reformers. 

vi. Mahalanobis worked with C. T. R. Wilson at the Cavendish Laboratory. He introduced the D2 statistic, known today as the 'Mahalanobis distance'. Mahalanobis published over 200 papers covering a vast range of topics from agriculture to drinking tea among middle class Indian families in Kolkata. 

vii. The Statistics Day provides us a great opportunity not only for remembering Prof. P. C. Mahalanobis on his birth anniversary, creating public awareness particularly younger generations about importance and role of statistics and taking lessons from his outstanding contributions in the field of statistics and economic planning but also for strengthening our resolve to revamp the statistical system both at the national and state levels in response to the emerging challenges. 

2.    RBI proposes separate wealth management unit for banks

i. The Reserve Bank of India (RBI) on Friday proposed a separate wealth management unit for banks involved in wealth & portfolio management services.

ii. In its annual monetary policy statement, the RBI suggested the banks to carry out all Wealth Management Services (WMS) activities through a separate subsidiary or via a Separately Identifiable Department or Division established for the purpose.

iii. In the draft guidelines, the RBI said, "To address the issue of conflict of interest arising from the single entity conducting both the activities of advisory, fund management as well as marketing, it is proposed to segregate the two functions."

iv. Before undertaking any wealth management scheme, banks would have to seek the central bank's approval. In addition, the bank's division providing investment advisory services would have to be registered with capital market regulator SEBI.

v. The RBI also mandated banks to keep their sales and advisory activities apart from each other, and warned that they could be barred from money markets for any violation of guidelines.

vi. The guidelines also suggest that transactions above Rs 50,000 for wealth management products should not be accepted in cash or cheque of other banks; rather via debit to customers account.

vii. The new guidelines were announced in a bid to address concerns over mis-selling, inadequate grievance resolution mechanism and also to address weak internal control mechanisms.

3.    Railways launches ticketing through SMS

i. Railways on Friday launched SMS-based ticketing with two dedicated numbers - 139 and 5676714 - for the service.

ii. Railway Minister Mallikarjun Kharge said: In order to give improved customer service and empower the common man who does not have access to internet and cannot afford to buy smart phones, we are today launching SMS ticket booking service"

iii. He said the service will particularly be useful for labourers staying away from home as they will find the service convenient as well as cost-effective and they will not have to travel to booking counters and forgo the earnings for a day.

iv. Ticket booking through non-internet based mobile, launched as a pilot project by Indian Railways Catering and Tourism Corporation (IRCTC), will also help Railways overcome the menace of touts who fleece unsuspecting people

v. Since the mobile penetration in India has increased rapidly and more than 80 per cent people have mobile phones, the new system will be helpful in enabling booking of tickets by masses themselves.

4.    India, China hold 16th round of border talks

i. India and China began the 16th round of their border talks here Friday led by their special representatives - National Security Advisor Shivshankar Menon from India and State Councillor Yang Jiechi from China.

ii. Maintenance of peace and tranquility in the border areas remained the focus of discussion in the 16th round of talks between Special Representatives of India and China held in Beijing.

iii. National Security Advisor Shivshankar Menon and Chinese State Councillor Yang Jiechi discussed the possible additional confidence building measures, ways and means of strengthening existing mechanisms for consultation and coordination on border affairs.

iv. They also reviewed the status of bilateral relations in the wake of the Chinese Prime Minister's recent visit to India and discussed regional and global issues of mutual interest.

v. This is the first meeting of the special representatives on border talks since the new Chinese leadership took over in March and comes in the aftermath of the Chinese troop incursion in Ladakh that raised temperatures between the two neighbours.

vi. The two-day talks are expected to be followed by the visit of Indian Defence Minister A.K. Antony from July 4- 7.

5.    Bimal Jhulka appointed I&B secretary

i. Bimal Jhulka has been appointed as secretary in the information and broadcasting (I&B) ministry. 

ii. He succeeds U K Varma who retires on June 30

iii. Jhulka was appointed by the Appointments Committee of the Cabinet (ACC). He is an IAS officer of 1979 batch of Madhya Pradesh Cadre.

iv. Earlier he was serving as the Special Secretary and Financial Advisor to Ministry of External Affairs since January 2013

v. Julka has earlier served ministries like Civil Aviation, Defence, Finance and Human Resource Development 

6.    Countdown begins for PSLV-C22 carrying IRNSS-1A

i. The 64-and-a-half-hour countdown for the launch of PSLV-C22, carrying India's first dedicated navigation satellite IRNSS-1A on July 1, began today at Satish Dhawan Space Centre at Sriharikota

ii. The vehicle will lift off from the first launch pad at Satish Dhawan Space Research Centre, Sriharikota at 11.41 pm on Monday.

iii. IRNSS-1A has already been mounted on an 'XL' version of the launch vehicle, ISRO's 24th mission of a PSLV. 

iv. By launching this satellite India will join China and Europe in the mission to create their own version of GPS.

v. Initially seven satellites will be launched and four others will be added later.

7.    Petrol price hiked by Rs 1.82 per litre

i. Petrol price was on Friday hiked by a steep Rs 1.82 a litre, the third increase in rates this month, as falling rupee made imports costlier.

ii. An increase in diesel rates is expected early next week.

iii. Oil companies raised petrol rates by Rs 1.82 a litre, excluding local sales tax or VAT, with effect from midnight.

iv. Actual increase will be higher and will vary from city to city depending on local taxes.

v. Petrol price in Delhi was hiked by Rs 2.19 per litre to Rs 68.58 from tomorrow as against Rs 66.39 currently.

vi. In Mumbai, petrol price has been increased by Rs 2.30 to Rs 76.90 while in Kolkata rates went up from Rs 73.79 to Rs 76.10 per litre.

vii. This week's increases have almost negated the four reductions this year that had brought down the rates to Rs 63.01 at the beginning of May.

8.    Reliance inability to continue running Delhi Airport Metro after tomorrow

i. Reliance Infra that runs the Delhi Airport Metro line has expressed its inability to continue running Delhi Airport Metro after tomorrow.

ii. In a letter, Reliance Infra owned Delhi Airport Metro Private Limited informed Delhi Metro Rail Corporation, DMRC, that it will stop running the Airport Metro from the midnight of 30th June.

iii. The DMRC has however, rejected the notice and asked Reliance Infra to continue the operations of the line.

9.    IOC postpones July 15 deadline to amend IOA constitution

i. In a reprieve to the suspended Indian Olympic Association, the IOC has decided to extend the deadline for adopting an amended constitution, the draft of which is currently being reviewed by the world body.

ii. IOC had set a July 15 deadline for the amendment of the IOA Constitution so that elections are held by September 1 to pave the way for lifting the ban on India imposed on December 4 last year.

iii. "The IOC will therefore not be able to meet the deadline initially established (15 July) for the first

iv. Extraordinary General Assembly of the suspended IOA to take place. Consequently, this initial deadline of 15 July will have to be slightly extended until the IOC can compile and send all necessary comments for the new IOA Constitution.

v. Earlier this month, IOC had asked the IOA to co-ordinate and submit all amendment proposals to the world body by no later than June 12, 2013, so the process of lifting the ban on India could be started at the earliest.

vi. IOC director General, Christophe De Kepper saidto India's sport ministry Jitender Singh that: The complexity of the issues which have to be addressed (including good governance and ethics), the IOC needs more time to coordinate all comments internally,

10.  Gayle blasts ton as Windies start campaign with easy win

i. Opener Chris Gayle was at his attacking best as he smashed a 100-ball 109 to fashion an easy six-wicket victory for the West Indies against Sri Lanka in the opening match of the Tri-nation One-Day series Kingston. 

ii. The big-hitting Gayle blasted nine fours and seven sixes in front of his home crowd to make an easy work of the 209-run target at the Sabina Park.

iii. This was Gayle's 21st ODI ton and third on this ground, the previous one coming against New Zealand last year.

iv. Even as Gayle got out after bringing his side to the doorstep of victory the West Indies needed just 28 runs for win in 19 overs they lost two more wickets after the Jamaican's dismissal.

v. But skipper Dwayne Bravo and Marlon Samuels kept their cool to see the hosts through for a bonus-point win with 73 balls to spare.

vi. Earlier, West Indies rode on Sunil Narine's 4/40 to bowl out Sri Lanka for a modest total despite skipper Angelo Mathews' battling, unbeaten half-century.