Daily GK Update 23rd July 2015 Important Current Affairs

1. SEBI bans over 900 firms suspected to be platforms for tax evasion

i) Suspecting tax evasion of at least 5,000 to 6,000 crore rupees, Securities and Exchange Board of India (SEBI) has clamped down on a large number of organised syndicates who had set up shops to convert black money into legitimate-looking funds through the stock market platform.
ii) SEBI has banned more than 900 firms from capital markets and also referred these cases to the Central Board of Direct Taxes under the Income Tax Department for further investigation.
iii) The regulator is trying to curb such cases one-by-one very successfully.

2. Baahubali poster breaks Guinness World Record

i) Baahubali poster has entered the Guinness World Record for making the largest poster of more than 50,000 sq ft.
ii) Global United Media, the company that distributed Baahubali in Kerala, was behind the idea of creating the poster, which was designed by Mr Rajamouli himself.
iii) According to the Guinness website, the poster sized 51,598.21 square feet surpassed the previous record of 50687.25 square feet.
iv) A team of 30 members worked round the clock for three days to complete the poster. Baahubali, which is about two brothers at war for an ancient kingdom, has so far grossed over Rs 350 crore worldwide.

3. Acclaimed US novelist EL Doctorow passes away

i) United States author, editor and professor Edgar Lawrence Doctorow (84years) passed away in New York due to lung cancer. His works was known for historical fiction.
ii) Re-imagination of the American experience and placing fictional characters in recognizable historical contexts and was famous for his novels Ragtime and Billy Bathgate.
iii) In his 50 year long career, he has published around 12 novels, 2 books of short fiction, a stage drama and numerous essays.

4. NRIs can invest in NPS: PFRDA

i) Non-resident Indians (NRIs) can invest in National Pension System (NPS) to get a social security cover.
Government will shortly come out with a clarification on Foreign Exchange Management Act (FEMA) guidelines to facilitate non-resident Indians to invest in National Pension System (NPS).
ii) Residents especially living in the Middle-East are not having any mandatory social security benefit.
iii) The Pension Fund Regulatory and Development Authority (PFRDA) is in talks with lenders such as SBI, HDFC Bank, Canara Bank, Indian Bank and several other south India-based banks to tap potential of NRIs.

5. India and Singapore signed agreement to enhance maritime cooperation

i) India and Singapore have signed an agreement on sharing white-shipping information to enhance maritime cooperation and this defence establishments agreed to strengthen defence relations under the ambit of an enhanced defence partnership.
ii) The White-shipping refers to commercial shipping information about movement of cargo ships.
The Singapore Navy and the Indian Navy conduct the Singapore-India Maritime Bilateral Exercise (SIMBEX) together annually.
iii) Both navies also interact regularly through high-level visits, dialogues, joint military training, courses and other professional exchanges.

6. Indian-American wins junior title at US Powerlifting Championships

i) Indian-American Amitoj Chhabra (20 years) has won junior title at the latest US Powerlifting Association National Championships.
ii) Amitoj Chhabra lifted a total of 1,383 pounds in Las Vegas to win the junior title earlier this month.
Chhabra squatted 485 pounds, bench pressed 325 and dead-lifted 573.


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