Daily GK Updates - 19th June 2015 Important Current Affairs

1. China and Australia signed Free Trade Agreement
i. After a decade of negotiations China and Australia have sealed a free trade agreement which is expected to deliver a $20 billion boost to mutual trade by 2035. Currently trade between the two stands at almost $160 billion annually.
ii. The deal was signed by Australia’s Trade Minister Andrew Robb and China’s Commerce Minister Gao Hucheng in Canberra on Wednesday. Both governments concluded negotiations on the free trade agreement in 2014, now it has to be ratified by their parliaments to come into effect.
iii. Australian Prime Minister Tony Abbott described the deal as historic for both countries and said it will change the "world for the better.”

2. Keith Vaz re-elected as chairman of UK Parliament committee
Britain’s longest-serving Indian-origin MP, Keith Vaz was re-elected as chairman of Parliaments Home Affairs Select Committee for the third time.
ii. Vaz, a senior leader of Labour Party was elected as the chairman after receiving 412 votes in a secret ballot to all of the 25 select committees of the commons.
iii. Keith Vaz born on 26 November 1956 is a British Labour Party politician who has been Member of Parliament (MP) for Leicester East since the 1987 election. He has been the Chairman of the Home Affairs Select Committee since July 2007.
iv. Between October 1999 and June 2001 he served as a Minister for Europe, Foreign and Commonwealth Office.

3. Micromax launched world’s slimmest 4G phone Micromax Canvas Sliver 5
i. Micromax on 18 June 2015 launched the world’s slimmest and lightest 4-Generation (4G) phone named as Micromax Canvas Sliver 5. As per Micromax, it is the first smartphone to weigh below 100 grams.
ii. The 97-gram device comes in a 5.1 mm thick body, the lightest one yet.
iii. The handset is armed with the Android Lollipop operating system that runs on the 64 bit, 1.2 GHz quad core Snapdragon 410 processor and 2GB DDR3 RAM.
iv. The smartphone comes with only one SIM slot but offers 4G connectivity.

4. Chinese Version of Bhagavad Gita launched in China
i. Bhagavad Gita, the sacred ancient Indian scripture, has made its debut in China after its Chinese version was released during an international yoga conference being held in the Communist nation.
ii. Translated by Prof. Wang Zhu Cheng and Ling Hai of the Zhejiang University in Shanghai and published by the Sichuan People’s Publications, the book was launched at a function attended by eminent yoga teachers from India who had converged at Dujiangyan in the south-western Sichuan province to attend a yoga festival.
iii. The book was released by Indian Ambassador to China Ashok K. Kantha.
iv. The foreword to the book was written by K. Nagaraj Naidu, who was till recently the Consul-General at the Indian Consulate in Guangzhou.

5. Supreme Court sets terms for Sahara chief’s release from jail
i. The Supreme Court today asked jailed Sahara chief Subrata Roy to furnish Rs. 5,000 crore in cash and a bank guarantee of equal amount to secure his release from the prison.
ii. Roy will, however, remain in jail as senior advocate Kapil Sibal appearing for him told the court that there was a difficulty in furnishing the bank guarantee of Rs. 5,000 crore as one of the financial institutions had backed out.
iii. A bench of justices T. S. Thakur, A. R. Dave and A. K. Sikri while pronouncing its order said, “We have accepted the format of bank guarantees”, subject to certain conditions.
iv. The court also asked the 65-year-old Roy, who has been in Tihar jail since March 4, 2014, to pay Rs. 36,000 crore to the SEBI within 18 months and in nine instalments from the date of release.
v. The bench further said if Roy defaults in payments in three instalments, then he will have to surrender himself back to the jail.

6. State Bank of India launches Online Forex Platform
Country's largest lender State Bank of India said on Friday it has launched SBI eforex, an Internet- based platform that enables customers to book their foreign exchange transactions online.
ii. The customers will be able to obtain forex rates without having to visit the branch, the bank said in a statement.
iii. The SBI eforex is an innovative platform incorporating robust security features and is designed to be user-friendly, fast and convenient, it said. It is a highly flexible product offering the facility to the customers to customise and set their own limits for deal size, daily transaction limits.
iv. Details of all deals done are made available to the users on a real-time basis, it said. This is SBI's second forex technology initiative, having launched SBI Fx Out, which enables customers to send foreign currency remittances from any its branches in India.

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