Daily GK Update: 02nd November, 2016 For All The Upcoming Exams

PM Narendra Modi launches 'Saur Sujala Yojana' in Chhattisgarh
I. Prime Minister Narendra Modi has launched the "Saur Sujala Yojana" in Chhattisgarh that would provide solar powered irrigation pumps to farmers at a subsidized price.

II. Chhattisgarh would be the first state to implement the scheme. Under the scheme, solar powered irrigation pumps of 3HP and 5HP capacity worth Rs 3.5 lakh and Rs 4.5 lakh respectively would be distributed to the farmers by March 31, 2019. The beneficiaries would get the pumps at the subsidised price.
Dhoni most valued athlete among Indians, Federer globally: Forbes Fab 40
I. Team India’s limited-overs cricket skipper Mahendra Singh Dhoni remains the most valued Indian athlete in 2016, despite a drop in his brand value when compared with last year, shows the Forbes Fab 40 list released recently.

II. The annual Forbes Fab 40 list, which estimates the brand value of top sports labels, athletes, teams and events, reveals that Dhoni’s brand value reduced from $21 million in 2015 to $11 million this year, and his rank slipped from fifth to 10th during the same period. However, he remains the only Indian among the top 10 athletes globally.

III. Swiss tennis legend Roger Federer toppled golf great Tiger Woods as the most valued athlete globally. With a brand value of $36 million, Federer gained two notches from third last year, while Woods dropped four spots to stand fifth on the latest edition of the list. Among other top athletes on the list is Argentine football star Lionel Messi, ranked eighth. He was not among the top 10 last year.

SEBI tightens norms for credit rating agencies
I. The Securities and Exchange Board of India (Sebi) on 01st November 2016 tightened rules for credit rating agencies, prescribing more disclosures on suspension and withdrawal of ratings. The capital markets regulator also directed agencies to disclose the nature of their compensation arrangements with rated entities, including exchange of gifts.

II. CRISIL, ICRA and CARE are the major agencies that assign credit ratings to issuers of debt instruments. The Sebi move follows an increase in the number of defaults due to a deteriorating               corporate debt profile.

Sushil Chandra takes charge as CBDT chief
I. Sushil Chandra on 01st November 2016 took over as Chairman of the Central Board of Direct Taxes (CBDT). Chandra, an Indian Revenue Service (IRS) officer of the 1980 batch, comes in place
of Rani Singh Nair, who retired from service on 31st October 2016.

II. Chandra, who has been Member (Investigation) in the CBDT since December 2015, will hold the top post till May 2017. During his long and illustrious career in the Income Tax Department, he has handled many prestigious assignments like the Principal Chief Commissioner and Director General of Income Tax at Ahmedabad, Commissioner of Income Tax (Central) and Director of Income Tax (Investigation) at Mumbai.

Lewis Hamilton wins 2016 Mexican Grand Prix
I. Lewis Hamilton outpaced Mercedes team-mate Nico Rosberg to win the 2016 Mexican Grand Prix.
Red Bull’s Daniel Ricciardo ended on the third spot in the race.

II. The Mexican Grand Prix is an FIA-sanctioned auto race held at the Autodromo Hermanos Rodriguez in Mexico City.

Miroslav Klose confirms retirement and joins Germany coaching staff
I. Miroslav Klose, the top scorer in World Cup history, is ending his playing career and will join Joachim Löw’s coaching staff as he studies for his pro licence, the German football association (DFB) have confirmed.

II. The 38-year-old retired from international football after winning the World Cup with Germany in 2014, scoring twice to bring his total goal tally from four tournaments to 16. He is also Germany’s record scorer with 71 goals.

India's Palpreet Singh Included in 2016 NBA D-League Draft
I. Palpreet Singh, winner of National Finals of ACG-NBA Jump, India's first national basketball
talent search program, was selected 11th in the fourth Round of the NBA D-League Draft held in New York.

II. Satnam Singh, who became the first Indian to be drafted into the NBA when he was selected 52nd overall by the Dallas Mavericks in the 2015 NBA Draft, represents the Texas Legends, the minor league affiliate of the Dallas Mavericks.

Australia announces 19 grants worth $6.3 million for projects with India
I. In a bid to boost ties with India, the Australian government on 02nd November 2016 has announced 19 grants worth $6,30,000 dollars for several projects in the field of education, science, sports, arts and culture.

II. The successful grants include an exchange between TAFE NSW and India's Centurion University to share expertise for training indigenous learners, collaboration between University of New South Wales and Indian scientists to develop effective new water purification systems for the country's water supply.

ICICI Bank launches overdraft facility for salaried home loan borrowers
I. ICICI Bank has launched a credit facility against home loans for salaried customers. The Home Overdraft facility will enable a salaried customer to seek loans up to Rs. 1 crore for personal needs against his/her property.

II. Salaried individuals, who have a home loan and a salary account with ICICI Bank, are eligible to apply for the ‘Home Overdraft’ facility. Also, salaried borrowers of preferred corporates who do not have home loans with ICICI Bank can transfer their home loans to the bank to avail themselves of this service.