Daily GK Update 14th & 15th May 2017, Important Current Affairs

1. International Day of Families: 15 May
i. The International Day of Families is observed on the 15th of May every year. 
ii. The theme of 2017 is “Families, education and well-being”. 
iii. This year’s observance focuses on the role of families and family-oriented policies in promoting education and overall well-being of their members. 

2. Govt revised base year of WPI, IIP to 2011-2012 from 2004-05

i. The government has revised the base year of Wholesale Price Index, WPI and Index of Industrial Production, IIP to 2011-2012 from 2004-05.
ii. As per the new series, April WPI inflation stood at 3.85 percent and March IIP at 2.7 percent. The Consumer Price Index-based inflation in April stood at 2.99 percent.

3. Kerala tops, Bihar last in public affairs index
i. Two South Indian States - Kerala and Tamil Nadu - secured first and second rankings for the second year in a row while poll-bound Gujarat gained two positions rising from five in 2016 to three in 2017 and Bihar stayed at the bottom in public affairs index (PAI) in governance in States.

4. India-UK agree on MoU in urban transport sector

i. India and the UK agreed to sign an MoU in the urban transport sector for cooperation in policy planning, technology transfer and institutional organisation.
ii. Union Minister for Road Transport, Highways and Shipping Nitin Gadkari was on a three-day visit, finalised the bilateral cooperation arrangement between the Transport for London (TfL) and the India's Ministry of Road Transport and Highways to cover a wide range of transport mobility solutions and associated activities in urban environments.

5. Telangana hosted first Videsh Sampark
i. Telangana hosted the first outreach program of the Ministry of External Affairs ‘Videsh Sampark’ to engage the State governments in creating awareness about various programmes of the Ministry.
ii. It was inaugurated by the Minister of State for External Affairs, Gen. V.K. Singh.
iii. Also, Telangana has become the first state in the country where the pilot ‘e-Sanad’ project for online attestation of documents, was rolled out.

6. RBI puts restriction on Uco Bank's business 
i. Reserve Bank of India has put restriction on Kolkata-based PSU UCO Bank’s lending and branch expansion plans as the state-run lender made net losses for the two successive fiscal amid severe stress on asset quality.
ii. RBI has initiated 'Prompt Corrective Action' (PCA) framework on  UCO bank on account of high bad loans and negative return of assets.
iii. UCO has become the second lender to face business restrictions after IDBI Bank.

7. IIT Kharagpur collaborates to turn Varanasi into smart city 

i. Indian Institute of Technology (IIT) Kharagpur has collaborated with the British Geological Survey to turn Varanasi into a smart city.
ii. 3D geological modeling of the geology under Varanasi will be prepared to help improve the building of new transport and service infrastructure.
iii. It would be the first major 3D subsurface urban study and planning of its kind in India.

8. ISKCON's Govardhan Eco Village wins Smart Village Award
i. Govardhan Eco Village, set up by the ISKCON in adjoining Thane district, has won a Smart Village award for being a sustainable project in rural Maharashtra.
ii. The award, "Smart Village," has been instituted by the India Trade Promotion Organisation (ITPO).

9. India ranks 26 in World Bank’s electricity accessibility list

i. India moved up to the 26th spot in the global electricity accessibility rankings of the World Bank's Ease of Doing Business index 2016.
ii. India was at the 99th position in 2014, it jumped 73 ranks in 2016. The compounded annual growth in electricity prices in 2014-16 stood at 3.27% compared to 5.97% in 2004-14.

10. Palestine President arrives on 4-day visit to India
i. President of Palestine Mahmoud Abbas arrived in India on a four-day State visit.
ii. The visit of President Mahmoud Abbas will provide an opportunity for reviewing the entire gamut of bilateral relations, regional and international issues.
iii. This is his third State visit to India.

11. Rafael Nadal wins 5th Madrid Open title

i. Rafael Nadal beat Dominic Thiem to win his fifth Madrid Open title held in Spain and move into the world's top four.
ii. In Madrid he battled past a determined Dominic Thiem of Austria to win the crown in straight sets 7-6, 6-4.
iii. For the 14-times Grand Slam Winner, it was also the 72nd tournament win of his career.

12. India win 1 gold, 5 silver & 4 bronze in Asian Wrestling Championship

i. India finished their Asian Wrestling Championship campaign on a resounding note with Sumit winning a silver medal in the 125 kg category on the concluding day of the continental event held in New Delhi.
ii. Bajrang Punia defeated Lee Seung-chul of Korea to win the gold medal in the men’s 65 kg freestyle category at the Asian Wrestling Championship.
iii. The Indian wrestlers overall bagged 10 medals comprising a gold, five silver, and four bronze. 

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