DAILY GK UPDATE – 7th May

1.    Niwatthamrong Boonsongpaisan become the interim PM of
Thailand
i. Thailand’s caretaker
Cabinet has appointed a new acting Prime Minister after a
court removed
Prime Minister Yingluck Shinawatra from office.
ii. Ms. Yingluck and nine
Cabinet members were forced from power on Wednesday by the Constitutional
Court, which found her guilty of abuse of power.
iii. Shortly after the ruling, her remaining Cabinet
announced that Deputy Prime Minister Niwatthamrong Boonsongpaisan would become
the interim leader
iv. The judgment marks the latest twist in
Thailand’s long-running political crisis. But it does little to resolve the
turmoil as it leaves the country in limbo and primed for more violence.
2.    RBI allowed the minors of age above 10 years to open
Savings bank accounts
i. Reserve Bank of India
(RBI) issued the guidelines to allow the minors of age above 10 years to
independently open and operate savings bank accounts and use other facilities
like ATM and cheque books.
ii. Till now, banks
allowed minors to operate bank accounts only along with a parent or a guardian.
All children and teenagers below the age of 18 are considered minors under
current rules.


iii. RBI
took this initiative to promote the objective of financial inclusion and also
to bring uniformity among banks in opening and operating minors’ accounts.
Highlights of the guidelines:

• All minors can
now open a savings/fixed/recurring bank deposit account through either his/her
natural guardian or legally appointed guardian.


• Banks may keeping
in view their risk management systems, fix limits in terms of age and amount up
to which minors may be allowed to operate the deposit accounts independently.


• The banks can
also decide on the minimum documents which are required for opening of accounts
by minors.


• Banks are free to
offer additional banking facilities like Internet banking, ATM/debit card,
cheque book facility, etc, subject to the safeguards that minor accounts are
not allowed to be overdrawn and that these always remain in credit.
3.    RBI scraps pre-payment charges on floating rate loans
i. Now you can pre-pay
your home loans with that extra money in your hands without doing complex
calculations on what your bank might charge you as penalty because you eat into
their potential interest earnings.
ii. The RBI has told
banks that they can longer charge any pre-payment charges to customers on
floating rate term loans.
iii. Customers tend to
pre-pay (foreclose) their loans when they find that the interest rates on their
term loans have risen. Some customers foreclose their loans with existing banks
by switching to banks who offer loans at lower rates.
iv. Some banks charge
as much as two per cent of the outstanding amount as penalty for foreclosure.
4.    Vadodara to host meet on business intelligence,
forensic auditing
i. In a
bid to address the challenges faced by business enterprises and to support them
in creating a sustainable future with the help of business intelligence,
internal and forensic auditing, the Institute of Internal Auditors (IIA) India
has organised a conference in Vadodara on Monday, May 12.
ii. The 4th annual
conference titled Towards a Sustainable Tomorrow, is being organised by the
Vadodara Audit Club, a part of the Bombay chapter of the Institute of Internal
Auditors (IIA).
iii. Established in 1941,
the IIA is an international professional association with its global
headquarters in Altamonte Springs, Florida, USA, while VAC was established on
May 12, 2010, by a group of risk management professionals under the aegis of
the Bombay Chapter of IIA, India. Globally, the IIA has more than 180,000 members.
VAC is the only presence of IIA in Gujarat.
5.   
Virat
is number 1 ODI batsman in latest ICC rankings
i. Virat Kohli has retained his position
as number one ODI batsman in the latest International Cricket Council, ICC
ranking released in Dubai, Ravindra Jadeja figures at number five in the
bowlers as well as all-rounders category. 
ii. Virat Kohli has retained his top
billing among the batsmen with 881 points. South Africa’s ABDevilliers follows
him closely at number two with 872 points. 
iii. India captain Mahendra Singh Dhoni is
sixth in the list with 783 points while Shikhar Dhawan is ranked eighth with
723 points.
iv. Among the bowlers, Saeed Ajmal leads
the pack followed by Dale Steyn and Sunil Narin while Ravindra Jadeja is at
fourth position with 676 points. 
v. Ashwin is at 14th place in the
rankings. In the All-rounder’s list, Pakistan’s Mohammed Hafeez is at the top
followed by Sri Lanka’s Angelo Mathews. Jadeja is ranked fourth in this list. 

vi. India
remain second in the ODI team rankings with 112 points after Australia which is
at the top with 115 points. 
6.   
Mark
Selby won maiden World Snooker title 2014
i. English pro Mark Selby has pocketed his maiden World
Snooker Championship title.
ii. At Sheffield, United Kingdom today,
he played the match of his career to stun defending champion Ronnie O’Sullivan.
iii. The Leicester-based cueist, who
trailed 7-10 overnight, triumphed 18-14 on a dramatic final day at the Crucible
to become the new World No.1.
iv. Getting past Neil Robertson in a
gruelling semi-final and and then stopping O’Sullivan from bagging his third
successive World Snooker crown, Selby, 30, was on cloud nine. A delighted Selby
said to beat Ronnie in the final to win his first world title is a dream come
true. 
7.   
World
Kabaddi League launched in capital
i. The World Kabaddi League was launched in New Delhi on
Tuesday in the presence of Deputy Punjab Chief Minister Sukhbir Singh Badal and
former India hockey captain Pargat Singh. 
ii. Aimed at raising the profile of the
sport, the league is all set for inauguration in mid-June at Thyagaraj Sports
Complex in New Delhi. 

iii. The Kabaddi league will be
played across four continents starting from August to December. 
8.    Saina, Srikanth to lead Indian team in Thomas, Uber
Cup
i. London Olympics bronze medallist Saina Nehwal and
Thailand Grand Prix champion K Srikanth will spearhead the Indian challenge at
the Li-Ning BWF Thomas and Uber Cup Finals to be held at the Siri Fort Sports
Complex here from May 18 to 25.
ii. The 24-year-old Saina will lead charge in the Uber Cup
competition and world No. 18 Srikanth will be shouldering the responsibility in
the Thomas Cup as India went with five singles and five doubles players in both
the squads, selected on the basis of world rankings.
iii. With the maximum number of players allowed in the squad
being 10, many teams have gone for four singles and six doubles players.
iv. Besides Saina, other singles members in the Uber Cup
team include world champion bronze medallist P V Sindhu, National Games
champion Arundhati Pantawane, world No. 57 Tanvi Laad, world No. 65 P C
Thulasi.