Daily GK Updates: 28 th August 2014

1.    Prime Minister
launches ‘Pradhan Mantri Jan Dhan Yojana
i. The ‘Pradhan Mantri Jan
Dhan Yojana’, an ambitious financial inclusion scheme under which the
government intends to provide every household with a bank account and insurance
cover, was launched by Prime Minister Narendra Modi on Thursday. 

ii. The scheme, about which Modi made the announcement in his
Independence Day speech, was launched across the country simultaneously amid
his emphasis that it lies at the core of “our development philosophy of
‘Sabka Sath Sabka Vikas'”.
‘1.5 crore bank accounts will be opened on first day of Jan Dhan Yojana’
iv. Jan Dhan Yojana, a dream project to open at least one
bank account to every household.
v. Noting that 10 crore
people do not have bank account, the Finance Minister aims to cover 7.5 crore
people under Jan Dhan Yojana by January 25, 2015.
vi. As a first step, under
the scheme, every account holder will get a ‘RuPay’ debit card with Rs 30,000
life insurance besides accidental insurance of up to Rs 1 lakh. 
vii. The scheme will provide overdraft, debt card
facility,” she said. “Jan Dhan Yojana will provide accidental
insurance cover,”.
2.    Erdogan to be sworn
in as Turkey’s new president 
i. Turkey’s outgoing
Prime Minister Recep Tayyip Erdogan is to be sworn in as president on Thursday
to extend his more than decade-long domination of the country.
ii. Erdogan was due to
take his oath of office at 1100 GMT (1630 IST) in Ankara and usher in a new era
for Turkey, where he is expected to push for a new constitution and seek to
further transform the country with development projects. 

iii. Taking over Erdogan’s post of
prime minister is Foreign Minister Ahmet Davutoglu, a long standing ally who is
expected to do little to challenge the Turkish number one
3.    Iran’s Mirzakhani
first woman to win prestigious math prize 
i. An Iranian-born
mathematician has become the first woman to win a prestigious global prize
known as the Field Medal, the International Congress of Mathematicians has
ii. Maryam Mirzakhani,
a Harvard educated mathematician and professor at Stanford University in
California, was one of four winners announced at the group’s conference in
iii. An
expert in the geometry of unusual forms, she has come up with novel ways to calculate
the volumes of oddly-shaped hyperbolic surfaces, which can be curved like a
saddle or curly like a piece of crochet.
iv. Mirzakhani
was born in Tehran in 1977 and earned her PhD in 2004 from Harvard University.

v. She has previously won the 2009
Blumenthal Award for the Advancement of Research in Pure Mathematics and the
2013 Satter Prize of the American Mathematical Society.
vi. The
Fields Medal is given out every four years, to four separate winners.

vii. The other three winners this year
were Artur Avila of France, Manjul Bhargava of Princeton University in New
Jersey, and Martin Hairer of the University of Warwick in Britain.
4.    IOC removes four independent
directors appointed by UPA
i. After Governors, the
Narendra Modi government is removing independent directors appointed by the
previous UPA regime on PSU boards, beginning with sacking of four directors on
the board of Indian Oil Corporation (IOC).
ii. IOC, the nation’s
largest oil company, in a filing to the stock exchanges said, “K Jairaj, Nesar
Ahmad, Sunil Krishna and Sayan Chatterjee have ceased to be Independent
Directors on the Board of the company on August 27, 2014
iii. All the four
directors were appointed to IOC board in March this year for a three-year term.
Their appointment was to be confirmed/ratified by the company shareholders but
IOC did not move a resolution to this effect at its annual general meeting
(AGM) in Mumbai yesterday, leading to their cessation.
iv. The new government
wants to change all previous UPA appointed directors but to start with it is
looking at appointments that need confirmation now, they said.
5.    Centre notifies minimum monthly
pension, wage ceiling enhancement
i. Government has notified minimum monthly pension of 1,000
rupees and a higher wage ceiling enhancement to15,000 from 6,500 rupees for
social security schemes run by retirement fund manager Employees Provident Fund
ii. Both schemes will be implemented from
1st September of the next month. According to EPFO estimates, the raising of
wage ceiling is expected to bring 50 lakh more workers under the ambit of
social security schemes run by it. 

iii. The government decision to fix pension of 1,000 rupees will benefit
28 lakh people including 5 lakh widow pensioners, who get less than this amount
at present. 
iv. EPFO had recently retained rate of interest to 8.75 per cent on
provident fund deposits for the current fiscal year 2014-15. 
6.    SC directs DLF to
pay Rs 630 cr fine imposed by CCI
i. Real estate major DLF
was on Wednesday directed by the Supreme Court to deposit Rs 630 crore fine
slapped on it by the Competition Commission of India (CCI) for allegedly
resorting to unfair business practices.
ii. The apex court said
the total ammount will be deposited within three months with its Registry
pending the outcome of the appeal filed by DLF against May 19 order of
Competition Appellate Tribunal’s upholding the penalty of Rs 630 crore imposed
by the CCI. 
iii. The
bench said so far as the interest on the amount was concerned it has to be
determined as per the November 9, 2011 order of the CCI that was fixed at 9 per

iv. It also directed DLF to file a
fresh undertaking that in the event of dismissal of the appeal it will pay such
amount as directed by the court. 

v. DLF pleaded that it should be
granted at least six months time to deposit the amount. 
7.    SRK becomes Interpol’s Ambassador of
‘Turn Back Crime’ campaign
i. Modern-era ‘Don’ Shah
Rukh Khan has become the first Indian actor to be roped in as Ambassador of
Interpol’s initiative ‘Turn Back Crime’ campaign, aimed at promoting greater
awareness on how to prevent crime.
ii. The actor who gave new twist to
Amitabh Bachchan’s character ‘Don’ in the Farhan Akhtar’s remake of the movie,
tweeted late night yesterday, “Don on the right side of Interpol. How
ironically cool is that…ha ha.”
iii. “Honoured to be the Ambassador for Turn Back Crime, the
Interpol initiative. Thanx Mr. Noble for the opportunity,” the actor wrote on
his social media page.
iv. The ‘Turn Back Crime’ campaign is
aimed at raising public awareness that organised crime is often involved in
seemingly unrelated crimes.
8.    India beat England
by 133 runs in second ODI
i. India defeated
England by 133 runs under the Duckworth/Lewis method in the second One—day
International match in Cardiff on Wednesday.
ii. Invited to bat,
India scored 304 for six and then bowled out the hosts for 161 in 38.1 overs at
Sophia Gardens. 

iii. As per the revised target after
the rain interruption, England needed 295 runs in 47 overs.

Brief Scores:
India: 304 for 6 in 50 overs (Suresh Raina
100, MS Dhoni 52; Chris Woakes 4/52)

England: 161 in 38.1 overs (Alex Hales 40;
Ravindra Jadeja 4/28).