DAILY GK UPDATE 7th JUNE

1.    K R Kamath Re-Elected as the Chairman of Indian Banks' Association (IBA)

i. K R Kamath, the chairman and managing director of Punjab National Bank (PNB) was re-elected as the Chairman of IBA for 2013-14 tenure. 

ii. At the 66th annual general meeting, IBA also elected Aditya Puri, managing director and CEO of HDFC Bank, as its Deputy Chairman. Along with this, the Chairman of State Bank of India (SBI), Pratip Chaudhuri was elected as the Honorary Secretary. 

About  Indian Banks' Association (IBA)

i. It is an association of Indian banks and financial institutions was formed on 26 September 1946. It is based in Mumbai. 

ii. It represents a total of 173 banking companies which are operating in India. 

iii. The objective of the association is strengthening, development and coordination of the Indian banking. It also facilitates various member banks.
iv. Indian Banks' Association is managed by the managing committee. The current managing committee of the IBA consists of a chairman, three deputy chairman, one honorary secretary as well as 26 members.

2.    Media General & Young Broadcasting decided to Merge

i. Media General, the owner of 18 network-affiliated TV stations announced that it will merge with New Young Broadcasting, which is a privately held company and operated 12 stations in all. 

ii. Media General that trades on New York Stock Exchange under the symbol MEG will make use of the stocks in order to purchase New Young Broadcasting.

iii. After this merger, Media General will have 11 stations affiliated with CBS, seven with ABC, nine with NBC, one with MyNetworkTV, one with CW and one with Fox 1.

iv. According to the terms of the deal, New Young shareholders will get majority ownership.

v.  However, the Media General will have its majority on the board seats as well as its own CEO. This means that new company will have 67.5 percent by New Young shareholders as well as 32.5 percent by Media General shareholders.

vi. The present CEO of Media General, George Mahoney will also be the CEO of the combined company. The new combined company will have its headquarters at Richmond, Virginia.

3.    Haryana's first biomass project starts generation of power

i. The first 9.9 mega watt biomass project set up at village Khurawata of Mahendergarhdistrict in Haryana at a cost of 68 crore rupees, has started power generation

ii. Haryana Renewable Energy Development Agency (HAREDA) said that the project has been commissioned under renewable energy policy of the government under Independent Power Producer mode.

iii. The agricultural waste and biomass is being used in the plant to produce power

4.    Eminent singer Raghavulu passes away  

i. Well known Telugu music director and playback singer Jetti Veera Raghavulu died in Rajahmundry on Friday following illness, family sources said. 

ii. Raghavulu, 82, is survived by wife, four sons and a daughter.

iii. He was not well for the past two months and breathed his last at his residence in Mangalavarapupeta areain Rajahmundry at around 3 AM on Friday.

iv. Raghavulu belonged to an agricultural family of Ramachandrapuram in East Godavari district of Andhra Pradesh and worked under popular singer and composer Ghantasala for a long time, 

v. Better known as JV Raghavulu, the music composer also worked with Telugu singers and composers K V Mahadevan and M S Viswanatham for some time.

vi. After debuting as a music director for 'Drohi' in 1970, he scored music for about 170 films. He sang the 'Baito Baito pellikodaka' song in 'Pelli Sandadi' (1959) film foractor Chalam.

5.    Kevin Barry won IMPAC Dublin Literary Award

i. Kevin Barry, the Irish author won 100000 Euro International IMPAC Dublin Literary Award for his debut novel, City of Bohane

ii. The book has described, the Ireland of 2053 a place where one would not want to be alive.

iii. To win the award, Kevin Barry managed to beat 153 titles nominated from 160 libraries of 44 countries. 

iv. Kevin Barry is the third Irish author to win this award.

v.  Kevin Barry is an Irish writer, who originally belongs from Limerick and at present he lives in Sligo. City of Bohane is his debut novel

About the Award
The prize is open for novels in any language that has been published in or translated into English and is organised by Dublin City Libraries on behalf of Dublin City Council. The award is sponsored by IMPAC, an international management productivity company.

6.    ONGC to look after six monuments 

i. The Tourism Ministry has roped in ONGC to maintain cleanliness and hygiene at six tourist destinations across the country, as part of its Clean India campaign.

ii. According to the action plan finalised by the Ministry, ONGC will adopt six monuments - Taj Mahal at Agra, Ellora Caves and Elephanta Caves in Maharashtra, Red Fort in Delhi, Golkonda Fort in Hyderabad and Mahabalipuram in Tamil Nadu.

iii. Tourism Minister K Chiranjeevi, who has taken the initiative for keeping tourist destinations clean and environment-friendly, had met ONGC CMD S Vasudeva and sought the participation of the oil major in the campaign.

iv. ONGC is adopting these six monuments as part of its corporate social responsibilities.

v. The 'Campaign Clean India' is aimed at undertaking sensitisation and action at field-level for bringing tourism destinations and their surroundings to an acceptable level of cleanliness and hygiene.

vi. It will be part of the government's strategy of the 12th Five-Year Plan for improving the quality of services and environs in and around tourist destinations across India

7.    1 Million free eye surgeries by an Indian hospital group

i. The UK House of Commons acknowledged an Indian group of hospitals, The Sankara Eye Care Institutions (SECI), on completion of a million free eye surgeries in India.

ii. The founder of Sankara, Dr R V Ramani, said "Sankara has come a long way in this journey and today it is a huge banyan tree giving benefits to thousands of people.

iii. The event has come in focus, at a time when India has 45 million visually handicapped and 12 million totally blind people.

iv. Claiming to be the only organisation working on 80:20 ratio, where 80 per cent of the beneficiaries are the rural poor, Sankara Eye Care gives them their treatment totally free while the remaining 20 per cent who are the rich and affluent, pay for the treatment, thereby cross subsiding the free eye care services.

v. Presently Sankara is serving in 69 districts in 11 states including Gujarat, Kerala, Karnataka, Tamil Nadu, Andhra Pradesh, Punjab, Union Territory Dadra and Nagar Haveli, and UttaraKhand and performs over 500 free eye surgeries every day."

8.    Dhoni makes it to Forbes’ list of highest-paid athletes

i. M.S. Dhoni’s earnings of USD 31.5 million, has earned him the 16th rank on Forbes’ list, with golfer Tiger Woods claiming the top-most position.

ii. Forbes claims that Indian cricket captain, M.S Dhoni has moved up 15 positions in this year’s list. In 2012, he was placed at number 31.

iii. The globally famous and much sought after magazine, estimates that Dhoni has made USD 31.5 million, from prize money and endorsements.

iv. Tiger Woods, on the other hand, made a whooping USD 78.1 million, followed by tennis star, Roger Federer at USD 71.5 million.

v. On number three is America’s Kobe Byrant, a basketball player with USD 61.9 million. Federer, had apparently topped the list in 2012.

v. However, the magazine’s 2013 list features only three women, led by Tennis player Maria Sharapova, who ranks 22 with earnings worth USD 29 million.

vi. She is joined by Serena Williams at number 68, who surprisingly ranked in USD 20.5 million, including USD 8.5 million in prize money.

9.    Dhawan’s dazzling ton sets up India’s 26-run win

i. Opener Shikhar Dhawan bludgeoned his way to a maiden ODI century as a rejuvenated India kicked off their campaign in the ICC Champions Trophy with a comfortable 26-run victory over South Africa on Thursday.

ii. Chasing an imposing target of 332, South Africa were all out for 305. The Proteas lost three top wickets for six runs in the group B match in Cardiff.

iii. The star of the show was Dhawan, who made 114 of a mere 94 balls to set the tone for India. The left-hander had scored 185 on his Test debut against Australia in March.

iv. With their third victory in as many Champions Trophy games, India thus keep their all-win record intact against the South Africans.

10.  Serena vs Sharapova in French Open final 

i. Maria Sharapova and Serena Williams will be clash for French Open title on Saturday.

ii. Sharapova, the defending champion, overcame 11 double-faults to win a semi-final shriekfest against Victoria Azarenka, 6-1, 2-6, 6-4.

iii. Williams then advanced to her first French Open final since 2002 by dispatching Sara Errani 6-0, 6-1 in 46 minutes of astounding power and precision.

iv. The top—ranked Williams, a 15—time Grand Slam champion, won her only Roland Garros title 11 years ago by beating her sister Venus in the final.

11.  Huga Chavez awarded Venezuela journalism prize 

i. Hugo Chavez, former President of Venezuela, was posthumously awarded the Journalism prize after a unanimous vote.

ii. Despite being accused of persecuting the press during his 14 year reign, late Venezuelan President Hugo Chavez was given the country’s National Journalism Prize.

iii. In a statement on Friday, The National Journalism Prize Foundation said that its jury voted unanimously to give Chavez the prize because he gave voice to "the oppressed of the world" and fought a "constant battle against media lies."

iv. Chavez lost his battle to cancer on March 5.