Daily Gk 19th June 2017

Current affairs for IBPS RRB,RBI,DENA BANK,SSC CGL

National

114-year-old Taj Palace becomes first Indian building to get trademark

• The iconic Taj Mahal Palace in Mumbai has just got itself trademarked. This makes the 114-year-old building the first in the country to get such a registration.
• The hotel, which has been a defining structure of Mumbai's skyline, has joined the elite and small club of trademarked properties in the world which includes the Empire State Building in New York, the Eiffel Tower in Paris and Sydney Opera House.
• Usually, logos, brand names, combination of colours, numerals and even sounds are trademarked but the registration of an architectural design has never been attempted since the Trademark Act came into force in 1999.
• The Taj Mahal Palace which was built in 1903 even before the Gateway of India, acted as a triangulation point for the Indian Navy to show way towards the harbour. During World War I, the property, constructed by former IHCL chairman Cyrus Mistry's family firm Shapoorji Pallonji & Co, was converted into a hospital.

Kerala's 'Gaza Street' on the radar of IB, NIA

• A street in Thuruthi ward of Kasaragod municipality that was recently named 'Gaza', a reference to the disputed strip of land between Israel and Egypt, under Palestinian self-rule, has got intelligence agencies interested.
• The agencies are looking at possible radical influence behind the naming, considering the locality's proximity to Padane from where the majority of the 21 youths from Kerala, who have gone missing since 2016 and are suspected to have joined the Islamic State.

RTI reply reveals EC ordered FIR against Tamil Nadu CM Edappadi Palaniswami

·         The Edappadi K Palaniswami government, which is saddled with internal dissent and battling alleged ‘cash for vote’ charges, faced fresh onslaught from the Opposition after it came to light that the Election Commission of India had ordered registration of FIR against the Chief Minister and others for alleged electoral malpractices during the Dr. Radhakrishnan Nagar by-election.

·         The apex poll body had recommended similar action against five of his Cabinet colleagues and the ruling AIADMK (Amma) deputy general secretary T.T.V. Dhinakaran, who was fielded from the constituency, last represented by former Chief Minister Jayalalithaa.

·         In April, the ECI had rescinded the by-election notification in the constituency after the Income Tax Department recovered certain documents from the house of Health Minister C Vijaya Baskar, indicating massive bribing of voters. The document purportedly contained the names of the Chief Minister and some Cabinet colleagues, who were allegedly vested with the responsibility of handling the money meant for distribution to voters.

International

106th International Labour Conference, 2017

• In a historic step towards eradication of Child Labour from the country, India ratified International Labour Organizations Convention No 138 (minimum age for employment) and Convention No 182 (worst forms of child labour) to symbolise its commitment and initiatives for eradication of child labour and attainment of Sustainable Development Goal 8.7 related with curbing of child labour.
• The ratification of both conventions coincided with the International Day against Child Labour expressing country’s commitment along with global partners to fight the menace of child labour and providing the childhood back to them. Shri Bandaru Dattatreya handed the Instruments of Ratification to Mr. Guy Ryder, DG, ILO at the sideline event held in Geneva at the International Labour Conference, 2017 on 13th June 2017.
• With ratification of these two core ILO conventions, India has ratified 6 out of 8 core ILO conventions, with the other 4 core ILO conventions relating to abolition of forced labour, equal remuneration and no discrimination between men and women in employment and occupation, thus reaffirming its commitment for promoting and realizing fundamental principles and right at work. This action is in sync with the Government’s broader intent for social equality and growth for all.

Forest fire kills 62 in Portugal; search on for more bodies

• A raging forest fire in central Portugal killed at least 62 people as they desperately tried to flee, charring cars and trucks as it swept over roads. The disaster — the worst tragedy Portugal has experienced in decades — shook the nation, with the president declaring that the country's pain "knows no end."

London tower fire: 58 people missing presumed dead, say police

·         At least 58 people, who are missing, are presumed to have died in the Grenfell Tower fire, London police said. “Sadly at this time, there are 58 people who we have been told were in Grenfell Tower on the night that are missing and therefore sadly I have to assume that they are dead,” Commander Stuart Cundy told reporters, insinuating the figure could change. Earlier the police figured the death toll at 30.

·         British Prime Minister Theresa met the families of the victims and assured them a total compensation of $6.4 million for emergency costs and for finding homes in nearby locations within three weeks, according to Bloomberg.

·         Grenfell Tower, a 24-storey apartment block in North Kensington, West London, was set up in 1974. The building was run by Kensington and Chelsea Tenant Management Organisation (KCTMO) on behalf of Kensington and Chelsea London Borough Council.

·       Construction Company Rydon made the refurbishment of the block worth Rs 8.7 million pound and was completed in July 2016.

Theresa May cancels 2018 Queen’s Speech as DUP pact hangs in the balance

·         Theresa May has cancelled the 2018 Queen’s Speech to smooth the path for Brexit reforms as a deal with the DUP hangs in the balance. 

·         The Prime Minister announced that a two-year parliamentary session will be launched on rather than the traditional one-year session. 

·         The step breaks with historical precedence and was last taken in the early days of the Coalition as it scrambled to create stable government in 2010. 

·         Government sources last night insisted the move was planned before the election and would give time for laws needed for Brexit to be fully debated. 

Contemporary Economic Developments

China-led AIIB touts ‘green’ growth

·         Leaders of the China-backed Asian Infrastructure Investment Bank touted its growing membership and commitment to sustainable development at its annual meeting, even as environmental groups were disappointed by its openness to investing in coal projects.

·         The AIIB, which has 80 member countries, was set up to help meet the estimated $26 trillion need for infrastructure spending in Asia through 2030, while also demonstrating that a China-led institution can meet international standards for best practice.

·         The United States and Japan, both members of the Manila-based Asian Development Bank (ADB), have not joined the AIIB. The AIIB has pledged to use its investments to help members fulfill their commitments to the Paris climate accord, which the United States is withdrawing from under President Donald Trump.

Nitty-gritty of bankruptcy code

·         Last week, Reserve Bank of India said its internal advisory committee (IAC) had identified 12 accounts, which account for 25% of non-performing assets of the Indian banking system for immediate resolution under the Insolvency and Bankruptcy Code (IBC).

·         The gross bad debt in the banking system as on March was Rs.7.11 lakh crore, which means the 12 accounts contribute to about Rs.1.78 lakh crore.

Success, the ‘ZED’ way

·         The ‘Make in India’ initiative unveiled by Prime Minister Narendra Modi in 2014, provided the much-needed boost to the languishing manufacturing sector and also an overarching framework for long pending structural reforms. Supply side interventions including FDI reforms, ease of doing business, scaling up physical infrastructure and competitive federalism are all being addressed under this initiative.

·         While the ‘Make in India’ program has been incessantly analysed by economic commentators, the relatively less talked about the initiative is the effort to align with “zero defect, zero effect” (ZED). The ZED focus of the program is not only the most arduous to achieve but also most durable in its impact on overall competitiveness.

·         A survey conducted by Statista-Dalia Research in 52 countries showed that ‘Made in Germany’ products were perceived as the best among 49 countries analysed followed by Switzerland and EU reflecting the inherent strength of their manufacturing engines. Interestingly, China was ranked last (49th) in terms of quality perception. India only fared marginally better at 42nd position.

Science & Technology

Hyderabad team grows miniature eyes using stem cells

·         Researchers at the Hyderabad-based LV Prasad Eye Institute (LVPEI) have successfully grown miniature eye-like organs that closely resemble the developing eyes of an early-stage embryo. The miniature eyes were produced using induced pluripotent stem (iPS) cells.

·         The iPS cells are produced by genetically manipulating human skin cells to produce embryonic-like stem cells that are capable of forming any cell types of the body.

·         Small portions of the corneal tissue were separated from the miniature eyes and used for growing corneal epithelial cell sheets in the lab. Such tissue-engineered cell sheets can potentially be used for restoring vision in patients whose limbus region of the cornea is damaged in both the eyes. The limbus region of the cornea contains stem cells, and chemical or thermal damage to this region affects corneal regeneration and results in vision loss.

·         Stem cells present in the limbus region of a healthy eye have been used for restoring vision when only one eye is damaged. But when the damage is present in both eyes, the only way to restore vision is by using the healthy limbus taken from a related or unrelated donor. Patients have to be on immunosuppressants lifelong when limbus is transplanted from donors. However, immunosuppressants are not required when corneal cells grown using the patient’s own skin cells are used for restoring vision.

Sports

Srikanth beats Sakai to win Indonesia Open Super Series Premier title

• Indian shuttler Kidambi Srikanth clinched his third Super Series title, lifting the Indonesia Open men's singles trophy with a straight-game victory over Japanese qualifier Kazumasa Sakai in the final. 
  
  World No.22 Srikanth, who had reached the finals at Singapore Open in April, outclassed Sakai, ranked 47th, 21-11 21-19 in just 37 minutes to take home a cheque of $75,000. 
  
  Srikanth had already clinched the 2014 China Super Series Premier and 2015 India Super Series.

Pakistan Dethrone India to Win Maiden Champions

• Mohammad Amir and Hasan Ali picked up three wickets apiece as Pakistan romped home to a 180-run win over India to win the ICC Champions Trophy for the first time.
• The win was also possible thanks to a magnificent century from Fakhar Zaman and fifties from Mohammad Hafeez and Azhar Ali. With this, Pakistan have become the fourth team to complete the ICC treble. Get full highlights of India vs Pakistan ICC Champions Trophy 2017 final.