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Daily GK Update : 18th April, 2016 For All The Upcoming Exams

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1. World Heritage Day :18th April, 2016 
i. World Heritage Day was observed all over the world on 18 April. 
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ii. The day is observed with an aim to create awareness among the people towords conserve and protect the valuable assets and cultural heritage across the world.
iii. World Heritage is the shared wealth of humankind. Protecting and preserving this valuable asset demands the collective efforts of the international community. 
iv. This special day offers an opportunity to raise the public’s awareness about the diversity of cultural heritage and the efforts that are required to protect and conserve it, as well as draw attention to its vulnerability.
v. The 2016 theme for the ICOMOS International Day on Monuments and Sites celebrated on 18 April is: The Heritage of Sport.

2. World’s Largest ‘Charkha’ To Be On Display At IGI Airport
i. The World’s largest wooden Charkha (spinning wheel) is planned to be installed at Terminal 3 of the Indira Gandhi International Airport in New Delhi. 
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ii. This Charkha is ready for dispatch from a unit of Khadi and Village Industries Commission (KVIC) in Ahmedabad.
iii. Mr. V K Saxena, the chairman of KVIC has decided to install the world’s largest charkha at the international airport in Delhi with the aim to showcase India’s symbol of non-violence to the world. The IGI airport is visited by around 2, 50,000 people/tourists every day.
iv. The Charkha is made from high-quality teak wood, which is estimated to last for over 50 years, was built by around 26 workers and carpenters who completed it in 40 days. 
v. The total weight of the Charkha is four tonne. 

3. New Centre for Ganga River Basin Management and Studies
i. National Mission for Clean Ganga under the Ministry of Water Resources, River Development and Ganga Rejuvenation in collaboration with Indian Institute of Technology, Kanpur (IITK) announced the formal launch of Centre for Ganga River Basin Management and Studies (CGRBMS) in New Delhi.
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ii. The Ministry signed a 10 year Memorandum of Agreement with IITK for provision of continual scientific support in the implementation and dynamic evolution of the Ganga River Basin Management Plan. 
iii. Delivering the key note address on the occasion, Union Minister for Water Resources, River Development and Ganga Rejuvenation explained in detail why the Centre for Ganga River Basin Management and Studies is needed for the mission and how important is this collaboration. 
iv. Ministry was focused on cleaning the Ganga by setting up Effluent Treatment Plants (ETPs) and Sewage Treatment Plants (STPs). 
v. According to Dr. Vinod Tare, Professor IITK  the Ganga River Basin Management Plan 2015 by IIT Consortiums has provided strategic action plans, some policy interventions and management action along with financial implications. These plans shall be further detailed by the centre with financial, social, economical and environment implications, he added. 

4. US Jury Slaps $940 Million Fine on Tata in Trade Secret Case, TCS Denies Wrong doing
i. A US grand jury has slapped two companies of India’s Tata group -Tata Consultancy Services(TCS) and Tata America International Corp. with a USD 940 million fine in a trade secret lawsuit filed against them.
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ii. After days of hearing, the federal grand jury in the US State of Wisconsin ruled that Tata Consultancy Services Ltd. and Tata America International Corp. must pay USD 240 million to Epic Systems for allegedly ripping off its software. 
iii. Tata have also been asked to pay another USD 700 million in punitive damages. 
iv. TCS, which is India’s largest software services firm, stated there was no IP infringement in the Epic Systems case and said it plans to “defend its position vigorously in appeals to higher courts”. 
v. The Mumbai-based firm said it remains committed to protecting IP as well as its reputation and financial interests fully. Epic Systems had accused TCS and Tata America International Corp, in a lawsuit filed in October, 2014 in US .

5. Banks To Share All Transaction Details In Standard Format
i. From now onward all the Banks have to share the transaction details in a standard format. Because the revenue intelligence and central security agencies are looking seriously into money laundering and financial fraud cases. 
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ii. The banks were providing data in various file formats making it difficult for the agencies to process and analyse the information. 
iii. The processing of multi-format data also results in wastage of manpower and time.
iv. To recover with this issue a meeting was called by the Central Economic Intelligence Bureau and a commonly acceptable format was designed. During a recent meeting of the “working group on intelligence apparatus” headed by Revenue Secretary Hasmukh Adhia and attended by officials of intelligence and investigating agencies, a representative of RBI informed that Indian Banks Association (IBA) has indicated that banks will furnish information in respect of transactions like National Electronic Fund Transfer, Internet banking and intra bank transfer in the new format, the sources said. 
v. It makes a task easier for forensic analysis and will be both time and cost effective. Enforcement Directorate (ED) also emphasised that the details of cheque transaction should also be provided by the banks in the prescribed format, the sources said. A number of cases relating to bank frauds worth crore of rupees which are being probed by the central and state law enforcement agencies. Banks have reported 11,997 fraud cases during April and December last year.

6. FSS to provide UPI solution for 6 banks
i. Financial Software & Systems Pvt. Ltd. (FSS), a Chennai-based payments technology and transaction processing company, has inked agreements with six banks to provide UPI (Unified Payment Interface) solution across the country on a hosted platform.
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ii. UPI facilitates easy and seamless person-to-person (P2P) and person-to-merchant (P2M) transactions for end-customers. 
iii. Suresh Rajagopalan, President (Software Products), FSS, said UPI supported all transactions. 
iv. Typically, it will see FSS develop custom-built UPI app for each bank. 
v. A bank customer can download this app in his/her mobile devise, register the account number and take a virtual address.


7. Forbes Releases First Ever ‘Global Game Changers’ List, Three Indians Make the Cut
i. Forbes in its inaugural edition of Global Game Changers List launched this year has ranked some of the biggest names in business.
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ii. This year list features 30 of the most powerful business leaders worldwide, chosen from Forbes Releases First Everfor-profit companies worth at least $1 billion, which have showed growth, innovation and global footprint.
iii. Topped by Mark Benioff of Salesforce.com and Mark Zuckerberg of Facebook (ranked 30).
iv. Three Indians have been featured in the list, they are Rahul Bhatia of InterGlobe Enterprises, Cyrus Poonawalla of Serum Institute of India, and Sunny Varkey of GEMS Education at 3, 23 and 26 positions respectively.
v. Rahul Bhatia (Ranked 3), The founder of the Inter Globe Enterprises, Bhatia has brought the discounted airline model to the developing world, extended it and made it profitable. Gurgaon based IndiGo’s no-frill airline is the largest and most profitable carrier in India.

8. T N Ninan gets Mumbai Press Club’s lifetime achievement award
i. The Mumbai Press Club on Friday selected T N Ninan, Chairman and Editorial Director of Business Standard, for this year’s ‘RedInk Award for Lifetime Achievement in Journalism’.
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ii. The award will be presented to Ninan by the Governor of Maharashtra C Vidyasagar Rao on April 26 in New Delhi.
iii. The Award recognises Ninan’s extensive contribution to business journalism through good editorial leadership which he provided over the years to a host of publications, says a release issued here by the Mumbai Press Club.
iv. The ‘RedInk Journalist of the Year’ Award would be given to NDTV India’s senior Executive Editor Ravish Kumar for his consistent and good reporting on politics and issues that concern the common man.
v. The RedInk Awards for Excellence in Journalism are given in 10 categories for meritorious work in TV, print and digital formats. The categories are Politics, Crime, Health & Wellness, Business, Environment, Human Rights, Photography, Science & Innovation, Entertainment & Lifestyle and Sports.

9. Konkani museum to be set up in Mangaluru
i. Mandd Sobhan, a Konkani cultural organisation, will set up a Konkani museum in Mangaluru.
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ii. Addressing presspersons in Mangaluru on Monday, Eric Ozario, Gurkar (chief) of the organisation, said that this anthropological museum will showcase the unique, rich and diverse Konkani culture of the Konkani-speaking people from all regions, religions and dialects.
iii. He said the museum, which is estimated to cost around ₹30 crore, will be set up on an area of one acre at Shaktinagar area in Mangaluru.
iv. The Karnataka Budget for 2016-17 has allocated ₹2.5 crore for the project. The state government has assured to allocate another ₹2.5 crore in the next financial year, Ozario said.
v. The organisation will seek funding support from the Central government for the museum. In addition to this, UNESCO (United Nations Educational, Scientific and Cultural Organization) will also be approached for the funding support, he said. Efforts will be made to complete the work on the building in three years. The Karnataka Chief Minister, Siddaramaiah, will lay the foundation stone for the project in Mangaluru on April 21, he said.

10. Sri Lanka’s Rangana Herath retires from ODIs, T20Is
i. Sri Lanka spinner Rangana Herath has retired from 50-over and Twenty20 internationals in order to carry on playing test matches. 
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ii. The 38-year-old took 74 wickets in 71 one-day internationals and another 18 in 17 T20 matches for the island nation, shouldered the burden of the slow bowling attack following the retirement of spin great Muttiah Muralitharan in 2011.
iii. Arguably the left-arm spinner’s best effort came at the 2014 World Twenty20, where he took five wickets for just three runs as Sri Lanka successfully defended a 120-run target in a must-win match against New Zealand en route to the title
iv. He has the record of best bowling figures in Tests by a left-arm spinner. 
v. In April 2016, Herath announced his retirement from One Day International and Twenty20 International cricket to focus on Test cricket.

11. Nico Rosberg wins Chinese GP for sixth straight Formula 1 victory 
i. Nico Rosberg claimed a dominant win in an action-packed Formula One Chinese Grand Prix to extend his championship lead over Mercedes team mate Lewis Hamilton, who battled up to seventh with some feisty driving after starting last.
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ii. Rosberg crossed the line a mammoth 37.7 seconds ahead of German compatriot Sebastian Vettel, who recovered after colliding with his Ferrari team mate Kimi Raikkonen at the first corner, to claim his third win from three races this season. 
iii. Daniil Kvyat finished third to score Red Bull their first podium finish since September’s Singapore Grand Prix but the Russian had to defend himself after the race when an angry Vettel blamed him for the collision between the Ferraris.

12. Australia Won 2016 Sultan Azlan Shah Cup By Defeating India
i. Australia has won the 25th edition of Sultan Azlan Shah Cup by defeating India in the final held in Ipoh, Malaysia. 
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ii. Australia notched up a thumping 4-0 victory over India. This was the 9th title for Australia at this tournament. The country has last won it in the year 2014.
iii. Apart from Australia, India has last won this tournament in the year 2010. That was the fifth title of India in which India was jointly declared winners with South Korea. 
iv. The Australian team took off though Craig’s field goals in the 25th and 35th minutes. Gohdes made it 3-0 in the 43rd minute and scored the fourth in the 57th minute. The result meant Australia lifted the trophy with an all-win record.
v. The New Zealand team who was the winner of 2015 Sultan Azlan Shah Cup has acquired the third place in the 25th edition of the tournament.
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