Daily GK Updates: 23rd August 2014

1.    T M Bhasin elected as Chairman of
Indian Banks Association
i. T M Bhasin was elected as
Chairman of Indian Banks Association (IBA) . He will be the Chairman of IBA for
2014-15.T M Bhasin is the chairman and managing director of Indian Bank.

He replace KR Kamath.

ii. Besides, Chanda
Kochhar who is ICICI Bank’s managing director, Arun Kaul, CMD of UCO Bank and S
L Bansal who is the head of Oriental Bank of Commerce have been elected as the
deputy chairpersons of the association. Arundhati Bhattacharya, chairperson of State
Bank of India was elected as Honorary Secretary of IBA for 2014-15.
Note: K R Kamath, who is the chairman and
managing director of Punjab National Bank, was the previous chairman of this
Association. K R Kamath was chairman for two consecutive tenures, that is,
2012-13 and 2013-14.
About Indian Banks Association
i. The Indian
Banks’ Association (IBA) was formed on the 26 September 1946 with 22 members.
As on 1 April 2014 IBA has 189 members.
ii. Homi P Mody
was the First Chairman of IBA.
iii. IBA is an
association of Indian banks and financial institutions. It is based in Mumbai.
iv. The members
comprises of Public Sector Banks, Private Sector Banks, Foreign Banks having
offices in India and Urban Co-operative Banks.
2.    RBI notifies increase in deposit money
under PPF
i. RBI has notified the increase in deposit money under
Public Provident Fund, PPF to 1.5 lakh rupees from 1 lakh rupees.
ii. This is in pursuance to an announcement made by the
Finance Minister Arun Jaitley earlier this month. After the new ruling, people
can now deposit up to 1.5 lakh rupees annually in their PPF account. The
Finance Minister had raised the investment limits in tax saving schemes with an
aim to encourage household savings.
3.    INS Kamorta Anti-submarine
corvette inducted into the Navy
i. INS Kamorta, an
indigenously built anti-submarine warfare corvette, was inducted into the
Eastern Fleet of the Indian Navy on Saturday. 
ii. INS Kamorta is the first
of four ASW stealth corvettes designed by the Navy’s in-house organisation, the
Directorate of Naval Design (DND), under Project 28, with around 90 per cent
indigenous components. Measuring 110 meters in length, 14 meters in breadth and
displacing 3,500 tonnes, the ship can achieve speeds of 25 knots.
iii. The ship is fitted with anti-submarine
rockets and torpedoes, medium and close-in weapon systems, and an indigenous
surveillance radar.
4.    Eminent Kannada writer UR Anantha Murthy passes away
i.  Eminent Kannada writer and Jnanpith
Award winner UR Anantha Murthy, 82, passed away here on Friday.
ii. Anantha
Murthy, a writer and critic, was considered one of the pioneers of the Navya
movement in Kannada literature.
iii. He is the
sixth person among eight recipients of the Jnanpith Award for the Kannada
language. In 1998, he was conferred the Padma Bhushan.
iv. He served as
the Vice-Chancellor of Mahatma Gandhi University in Kottayam, Kerala, during
the late 1980s.
Note: i. Anantha
Murthy was one of the finalists of Man Booker International Prize in 2013.
ii. His important
literary works include Samskara and Avasthe (both
of which were made into movies and won several awards), Bhava and Bharathi
. He has also written numerous short stories.
iii. Several of his
novels and short fictions have been made into movies. One of his short stories, Bara,
was also made into a movie by renowned director MS Sathyu.
5.    Prime Minister Narendra Modi announced
Pradhan Mantri Krishi Seenchayi Yojana
i. Pradhan Mantri Krishi Seenchayi Yojana was announced by
Prime Minister Narendra Modi . The Yojna has been announced to meet the
irrigation needs of all farmers across the country. Sum of 1000 crore rupees
has been allocated for implementation of the scheme.

Earlier, the
Pradhan Mantri Krishi Seenchayi Yojana was proposed in the Lok Sabha on 10 July
2014 by Arun Jaitley, the Union Finance Minister in his maiden Budget Speech.
The scheme was planned to provide assured irrigation to mitigate risk to the
farmer since bulk of the farm lands are rain fed and it depends on monsoon.
6.    20th edition of annual Delhi Book Fair
begins in New Delhi
i. Twentieth edition of annual Delhi Book Fair began at
Pragati Maidan in New Delhi today. Theme of the nine- day event is
‘Literature in Cinema’
ii. Around 530 stalls have been set up and 300 publishers
are participating in the event. Online booking option to avoid queue and ten
air-conditioned buses to ferry visitors from different gates of Pragati Maidan
to exhibition halls have been arranged.
iii. Conferences, seminars, painting competitions, book launches and
debates have also been planned. Fair is being jointly organised by India Trade
Promotion Organisation (ITPO) and Federation of Indian Publishers(FIP). Entry
charge for adult is 20 rupees and for children 10 rupees.
7.    Weightlifter Ragala Venkat Rahul won
first gold for India at Youth Olympics
i. Weightlifter Ragala
Venkat Rahul on 22 August 2014 bagged Silver medal in the 77 kg category by
lifting 141 kg in Snatch and 175 kg in Clean and Jerk to finish with a total of
316 kg. With this, Rahul won India’s first medal of the second Youth Olympic
Games in Nanjing, China.
ii. Silver medal of
Rahul was also India’s first medal in Weightlifting in Youth Olympics. It was
also his personal best performance in the total lift, which was six kg more
than he did at the 2013 Asian Youth Games held in Nanjing.

iii. Apart from this, Maymon Poulose in
the 110 meter hurdles and Mithra Varun in the discus throw qualified for the
Final-A stage, which is the second stage.
8.    Veteran CPI-M leader Amitava Nandy
died at 71
i. Veteran Communist Party of
India-Marxist (CPI-M) leader Amitava Nandy died in Kolkata. He was 71 and was
suffering from cancer in pancreas.
ii. He was a Member
of Parliament of 14th Lok Sabha (2004-09).
iii. He represented the Dum Dum constituency in North 24 Parganas of West
Bengal and was a member of the Communist Party of India (Marxist) political
9.    Guru Hanuman Akhara chosen for 2014
Rashtritya Khel Protsahan Puraskar
i. Guru Hanuman Akhara, a Delhi-based wrestling academy was
chosen for the 2014 Rashtritya Khel Protsahan Puraskar (RKPP) . The Akhara was
chosen in the category of establishment and management of sports academies of
ii. Rashtritya Khel Protsahan Puraskar will be given on 29
August 2014 at the National Sports Awards function by the President of India, Pranab
Mukherjee along with Arjuna, Dronacharya and Dhyan Chand awards.
Other awardees of Rashtritya Khel Protsahan Puraskar are
i. Oil and Natural
Gas Corporation (employment of sports persons and sports welfare measures)
ii. Jindal Steel
Works (community sports — identification and nurturing of budding/young talent)
iii. Child Link
Foundation of India — Magic Bus (other forms of sports activities not covered
in the categories mentioned in the schemes)
10.  Afghanistan celebrated 95th
Independence Day
i. Afghanistan celebrated its 95th Independence Day on 19
August 2014. It is celebrated to mark the signing of the 1919 Anglo-Afghan
treaty, which gave the country complete independence from British Empire.
ii. The Indian Prime Minister Narendra Modi on this eve
greeted Afghanistan’s President Hamid Karzai on behalf the Government and
people of India.