Daily GK Update 4th July 2014

  1. President Pranab Mukherjee has joined the Twitter(@RashtrapatiBhvn) bandwagon, attracting thousands of followers on the website within an hour. He is the first serving president of India to join Twitter. Former president Abdul Kalam is already on Twitter with the handle @apj_abdul_kalam. President Mukherjee already has a Facebook page with over five lakh followers on the world's biggest social network.
  2. The Reserve Bank of India (RBI) restored the limit of Overseas Direct Investment (ODI) by an Indian company under the automatic route of Foreign Exchange Management Act, 2004. With this decision now an Indian company can undertake financial commitment or invest up to 400 percent of the net worth in all its Joint Ventures (JVs) and/or Wholly Owned Subsidiaries (WOSs) abroad.However, RBI decided that any financial commitment exceeding one billion US Dollars or its equivalent in a financial year will require prior approval of the Reserve Bank. This rule is applicable even if total commitment undertaken by an Indian company falls within the eligible limit. Earlier in August 2013, RBI reduced the ODI limit to 100 percent of net worth of company from 400 percent for all Indian companies by considering the prevailed macro economic situation. The decision was taken in order to control the unprecedented appreciation of the dollar when the rupee touched an all-time low of 68.80 rupees.
  3. Ram Naresh Yadav was sworn-in as the Governor of Chhattisgarh following the resignation of Shekhar Dutt.
  4.  Sri Lanka’s External Affairs Minister Prof G L Peiris will be visiting India next week to hold talks with Foreign Minister Sushma Swaraj on key issues, including the welfare of Tamil community in Sri Lanka and the resolution of the fishermen issues.
  5. In the Wimbledon Tennis championship, the Men's Singles semifinals will be played today. Seven times champion, Swiss Roger Federer will face Canadian Milos Raonic while the other semifinal will be played between top seeded Novak Djokovic and Bulgarian Grigor Dimitrov.
  6. Louis Zamperini, an Olympic runner and American World War II veteran who survived two years as a prisoner of war, has died at the age of 97.


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