Daily GK Update 27th July 2017, Important Current Affairs

1. PM Modi inaugurates APJ Abdul Kalam's memorial
i. Prime Minister Narendra Modi has inaugurated a national memorial on the second death anniversary of former president Dr. APJ Abdul Kalam in Rameshwaram (Tamil Nadu).
ii. The Kalam memorial was built by the Defence Research and Development Organisation (DRDO) in Pei Karumbu.
iii. The memorial, built at a cost of 20 crores, blends Mughal and Indian architecture.
iv. Its main entrance resembles Delhi's India gate and the main door is a replica of the entrance of the Brihadiswara Temple in Tanjavur.

Daily GK Update 27th July 2017, Important Current Affairs

2. Delhi government constitutes State Names Authority
i. The Delhi government has constituted a separate body 'State Names Authority', which has the mandate to name government roads and institutions under the state purview.
ii. The State Names Authority (SNA) to be headed by the deputy CM Manish Sisodia.
iii. The authority will have a total of 34 members including the Union home secretary, the Union HRD secretary, the DDA vice-chairman, the Delhi PWD Secretary and the Delhi Principal Secretary (Home).

3. Cabinet approves revision of guidelines of Sovereign Gold Bonds Scheme
i. The Union Cabinet has approved the revision of guidelines of Sovereign Gold Bonds Scheme with a view to achieving its intended objectives.
ii. As per the changes, the investment limit per fiscal year has been increased to 4 kg for individuals, 4 kg for Hindu Undivided Family & 20 kg for Trusts and similar entities notified by the Government from time to time.
iii. The ceiling will be counted on Financial year basis and will include the Sovereign Gold Bonds purchased during the trading in the secondary market.

4. Government plans to open new post offices in 2017-18
i. The union Government will open 81 Sub-Post Offices and 100 Branch Post Offices during the current financial year under the Rural Business and Access to Postal Network Scheme.
ii. It has also planned to open 66 Branch Post Offices by the creation of new posts in 32 worst affected Left-Wing Extremism districts in the country.

5. Centre makes registration of marriages compulsory
i. The union Govt. has decided to make registration of marriages compulsory in a bid to prevent harassment of women.
ii. Compulsory registration of marriages will help prevent marriage frauds and protect the women.
Earlier, in 2006, Supreme Court had directed that registration of marriages should be compulsory for all citizens.
iii. As of now, there is no proposal to link Aadhaar for the registration of Marriage.

6. Cabinet approves new wage code bill to ensure minimum wage across all sectors
i. The Union Cabinet has approved the new wage code bill to ensure a minimum wage across all sectors by integrating four labour related laws.
ii. The proposed legislation is expected to benefit over 4 crore employees across the country.
iii. The bill seeks to empower the Centre to set a minimum wage across all sectors in the country and states will have to maintain that.
iv. At present, the minimum wages fixed by the Centre and states are applicable to workers getting up to 18,000 rupees pay monthly.
v. States will be able to provide for higher minimum wage in their jurisdiction than fixed by the central government.

7. New continent discovered under New Zealand, called Zealandia
i. The mostly submerged unknown continent beneath the South Pacific has been named as ‘Zealandia’.
Zealandia measured 1.9 million square miles and is 94% underwater.
ii. It had only three major landmasses, New Zealand’s North and South Islands to the south, and New Caledonia to the north Zealandia.
iii. Zealandia is a distinct geological entity and meets all the criteria applied to Earth’s seven other continents - elevation above the surrounding area, distinctive geology, a well-defined area and a crust much thicker than that found on the ocean floor.

8. Microsoft launches ‘Made for India’ Kaizala app
i. Microsoft officially unveiled a mobile-only productivity application ‘Kaizala’ to simplify large group communication for Indian organizations.
ii. “Microsoft Kaizala, a made for India product, brings together the two disparate worlds of mobile only messaging apps and a digitally integrated modern workplace.
iii. The application had been optimized for 2G networks to enable connectivity in remote locations and offered features with offline support.
iv. While the basic version would be free for Android and iOS users, Microsoft would also make available a ‘Pro’ version (Rs.130 per user per month).

9. Janalakshmi Financial Services appoints Ajay Kanwal as CEO
i. The largest micro finance company 'Janalakshmi Financial Services' (JFS) has appointed a veteran banker 'Ajay Kanwal' as its new chief executive officer(CEO).
ii. Kanwal will take charge of office from 1st August this year. Currently, Kanwal is a senior adviser to private equity firm TPG Capital and global payments company Mastercard. The current CEO V. S. Radhakrishnan will take over as Vice-Chairman.

10. Axis Bank to snap up FreeCharge
i. The Axis bank has decided to acquire digital wallet FreeCharge from Snapdeal in a deal worth Rs. 385 Crore.
ii. Now, the acquisition will need approval from Reserve Bank of India among others.
iii. According to the RBI regulations, any bank can have one license for prepaid payments instrument(PPI) like FreeCharge.
iv. Axis Bank already have a PPI license, the lender has surrender one of the licenses.

11. Former Karnataka CM Dharam Singh passes away
i. Congress Leader and former Chief Minister of Karnataka N. Dharam Singh (80-year) passed away due to a heart attack in Bengaluru.
ii. Mr. Singh headed the Congress-Janata Dal (Secular) coalition government from May 2004 to February 2006.
iii. He represented the Karnataka Legislative Assembly seven times without a defeat and was a member of the Lok Sabha from Bidar constituency in 2009 general election.

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