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Daily GK Update 22 November 2014

1. Govt approves new Rs 43,033-cr rural electrification scheme.
i. Government approved Rs 43,033-crore rural electrification scheme Deendayal Upadhyaya Gram Jyoti Yojana.
ii. The scheme will replace the existing Rajiv Gandhi Grameen Vidyutikaran Yojana (RGGVY).

iii. The estimated cost of the scheme for above two components is Rs 43,033 crore which includes the requirement of budgetary support of Rs 33,453 crore from the government over the entire implementation period.
iv. The scheme is likely to work towards improvement in hours of power supply in rural areas, reduction in peak load, improvement in billed energy based on metered consumption and providing access to electricity to rural households.

2. Forward Markets Commission tightens rules for warehousing service providers
i. Commodity market regulator Forward Markets Commission, or FMC, has strengthened the warehousing accreditation norms to avert an occurrence of an NSEL-like scam in the commodity futures market.
ii. The new norms will take effect after March 31, 2015 and the existing warehouse service providers (WSPs) in their current format will not be allowed to operate in the exchange space beyond June 30, 2015.
iii. FMC will set down net worth, ownership and corporate governance norms for WSPs in exchanges like MCX, NCDEX, ACE and NMCE.

3. Coronation of next Imam has no legal sanctity: HC
i. The Delhi High Court on Friday said the ceremony (dastarbandi) to anoint Shahi Imam Maulana Syed Ahmed Bukhari's son as the Naib Imam of Jama Masjid "would not amount to an appointment".
ii. A bench of Chief Justice G Rohini and Justice Rajiv Sahai Endlaw made the observation after taking into account the contentions of the Centre, Delhi Wakf Board and petitioners, who have challenged the ceremony.
iii. The court also noted that under the Wakf Act, 1995, the law only "provides for a mutawalli (manager) of a wakf and contains no provision for appointment of Imams of Wakf properties, even if a masjid".

4. Jan Dhan Yojana reflects poverty as 74% accounts hold zero balance
i. At least, 5.3 crore of the total 7.1 crore bank accounts opened under the Pradhan Mantri Jan-Dhan Yojana (PMJDY) have 'zero balance' even as the government has deposited Rs 5,400 crore in accounts under the scheme.
ii. out of 7.1 crore bank accounts opened, 5.3 crore had zero balance .
iii. PMJDY is a national mission for financial inclusion to ensure access to financial services like banking, savings and deposit accounts besides credit, insurance and pension.

5. India's first aircraft carrier slips into history
i. Work has begun on scrapping the country's first aircraft carrier, Vikrant.
ii.Built for the British Royal Navy as HMS Hercules in 1943, it was acquired by India in 1957 and saw action during the India-Pakistan war in 1971, playing a key role.
iii. Vikrant was auctioned to a ship-breaker for Rs 63 crore this year. Mumbai's IB Commercials Pvt Ltd won the bid.

6. Voting under way for 46 civic bodies in Rajasthan
i.  Nearly 43 per cent polling was recorded till 1pm in 46 civic bodies including six municipal corporations in Rajasthan where polling is under way today.
ii. Polling are being held in six municipal corporations of Jaipur, Kota, Jodhpur, Bikaner, Udaipur and Bharatpur, 18 municipal councils and 22 municipalities.
iii. Over 63.09 lakh electors are eligible to cast their votes at 6,135 polling booths in 1,680 wards.

7. Srinivasan seeks reinstatement as BCCI President
i. Cricket boss N Srinivasan today moved the Supreme Court seeking his reinstatement as BCCI President contending that there was "absolutely nothing" in the Justice Mukul Mudgal Committee report "incriminating" him in the IPL6 scam.
ii. Simultaneously, India Cements, the company of which he is the Managing Director, has also pleaded with the court not to pass any adverse order against the firm that could lead to cancellation of the franchise of Chennai Super Kings.


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