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GK UPDATES OF 1ST AND 2ND JANUARY

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IDBI Bank Raises Rs 900 Crore Via Basel-III Compliant Bonds l GK Updates  
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1.Public lender IDBI Bank on Saturday said it has raised Rs 900 crore by way of issuing Basel-III compliant tier-II bonds.
2.”IDBI Bank mobilised Rs 900 crore today through issue of Basel-III compliant tier-II bonds on private placement basis to strengthen the bank’s capital adequacy,” the bank said in a regulatory filing on Saturday.
3.The instrument — IDBI Omni Tier-II 2015-16 series-II — carries a coupon rate of 8.62 per cent per annum.
The bond maturity date is January 2, 2026.
4.Many banks have been raising money through tier-II bonds, in their run-up to full Basel-III compliance by
March 2019.
Astha Green Energy Asked to Refund Rs 44 Crore to Investors  l GK Updates
1.Capital markets regulator Sebi on Friday directed Astha Green Energy Ventures India and its directors to refund Rs 43.77 crore to investors along with an interest of 15 per cent.
2.The regulator said the company and its directors “within a period of one year from the date of this order, jointly and severally refund Rs 43,77,47,300 collected pursuant to the allotment of shares… to allottees with interest at the rate of 15 per cent per annum from the date of receipt of money till the date of such refund.”

E-Commerce Industry in India Likely to Be Worth $38 Billion by 2016: Assocham
1.The e-commerce industry in the country is likely to be worth $38 billion (roughly Rs. 2,51,720 crores) by 2016, a 67 percent jump over the $23 billion (roughly Rs. 1,52,357 crores) revenues for 2015, as per industry body Assocham.
2.”India’s e-commerce market was worth about $3.8 billion (roughly Rs. 25,172 crores) in 2009, it went up to $17 billion (roughly Rs. 1,126,11 crores) in 2014 and to $23 billion (roughly Rs. 1,52,357 crores) in 2015 and is expected to touch whopping $38 billion mark by 2016,” Assocham said in a statement.

Jayalalithaa launches ‘Amma seeds’ scheme for farmers   l GK Updates
1.Implementing an announcement made in the Tamil Nadu Assembly in 2014 for farmers’ welfare, Chief Minister J. Jayalalithaa has launched the scheme ‘Amma Seeds’ which is aimed at providing quality seeds, the state government said on Saturday.
2.In an official release here, the state government said Jayalalithaa had recently launched the scheme by giving away seeds to three farmers here.
3.She had proposed the scheme in 2014, saying quality, certified ‘Amma Seeds’ would be available through ‘Amma Service Centres’ across the state.
4.Jayalalithaa, fondly addressed as Amma by her supporters, had earlier launched Amma Canteens providing subsidised food and Amma mineral water, among others.

Union government and the World Bank signed a $50-million credit agreement
1.The Union government and the World Bank signed a $50-million credit agreement for a project aimed at helping young people from minority communities complete their education and improve their employment opportunities named Nai Manzil Scheme.
2.The Nai Manzil Scheme is designed as an integrated education and training programme that provides youth from minority communities skills needed for different tasks in a rapidly changing world.
3.The agreement was signed by Mr. Kumar and Michael Haney, the World Bank’s Operations Adviser in India.

LRSAM test-fired from INS Kolkata   l GK Updates
1.Long Range Surface-to-Air Missile (LRSAM), the missile co-developed by India and Israel, wassuccessfully test-fired on the Western Sea Board. The missile was fired from INS Kolkata and itsuccessfully intercepted an aerial target at extended ranges.
2.The test-fire was jointly carried out by the Indian Navy, Defence Research and Development Organisation (DRDO) and Israel Aerospace Industries.
3.This was the first test for LRSAM or BARAK 8 missile in India. Earlier, on 11 November 2015, it was successfully test-fired from a range in Israel.
4.The missile was developed by the DRDL, Hyderabad in collaboration with Israel Aerospace Industries. It has been manufactured by M/s Bharat Dynamics Limited, India.

Iran’s leading banks will soon open branches in India   l GK Updates
1.Iran’s leading banks will open branches in India to energise commercial ties between New Delhi and Tehran. The decision was amongst a slew of commercial measures taken by the India-Iran Joint Commission that met for the first time.
2.After the meeting led by External Affairs Minister Sushma Swaraj and Iranian Finance Minister Ali Tayebnia, India decided to allow the Pasargan Bank and Parsian Bank of Iran to set up branches in New Delhi and Mumbai.
3.A major beneficiary of normalisation of banking channels between two sides will be India which has just begun settling more than $6.5 billion energy-related pending payment, with Iran.

Pakistan’s Singer Adnan Sami gets Indian Citizenship   l GK Updates
1.The Union Home Ministry cleared the proposal to grant Adnan Sami the citizenship of India. Mr Sami, who has been staying in India since 2011, will now have to fill a citizenship form at the Home Ministry’s office in Delhi and pay Rs 13,700.
2.He will be given citizenship under Section 6 (I) of the Indian Citizenship Act, 1955 under the category “citizenship by naturalisation.”
3.Lahore-born Sami first arrived in India on March 13, 2001 on a visitor’s visa with a validity of one year. It was issued by the Indian High Commission in Islamabad.

RBI asked the banks to open banks in villages with a population of more than 5000.
1.India’s central bank has asked the lenders to open more brick and mortar branches in villages with no banking facilities and with a population of more than 5,000. The banking regulator has asked banks to submit a roadmap on how many branches they will be opening by 31 March 2017. Banks have to submit the roadmap by end of January 2016.
2.RBI observed that coverage of banking services in unbanked villages is skewed towards the BC model and the ratio of branches to BC is very low. Therefore, it has been decided to focus on villages with population above 5,000 without a bank branch of a scheduled commercial bank.
3.This will also enable banks to provide quality financial services and timely support to BC outlets that would help in sustaining and strengthening the services provided through BCs and also ensure close supervision of BC operations.

D.K.Hota to be the new CMD of defence PSU BEML Ltd    l GK Updates
The Public Enterprises Selection Board has recommended D.K.Hota to be the new CMD of defence PSU BEML Ltd. He is currently Director (HR) of the Bengaluru-based BEML. He has been on deputation at BEML from oil marketing major HPCL for the past two years.

Harpal Singh Kumar received Knighthood from Queen Elizabeth II   l GK Updates 
1. An Indian-origin cancer research expert Harpal Singh Kumar received a Knighthood from Queen Elizabeth II for his influential work on prevention and treatment of cancer. His name appeared in the annual New Year’s Honours list that includes several other Indian-origin individuals.
2.Samir Desai, founder-CEO of Funding Circle, received a Commander of the Most Excellent Order of the British Empire (CBE) for his work in the field of financial inclusion. Chairman of Sun Mark Ltd, Raminder Singh Ranger, was awarded a CBE for services to business and community cohesion.

Magnus Carlsen won the Qatar Masters Open chess tournament 
1.World champion Magnus Carlsen of Norway won the Qatar Masters Open chess tournament, billed as the strongest Open in history. The top seed had finished with seven  points, the same as Yu Yangyi of China, seeded 11th. He drew his 10th and final round encounter with former World champion  Vladimir Kramnik of Russia, while Yu defeated Wesley So of the United States.
2.Surya Shekhar Ganguly was the best-placed Indian, at 10th.

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