DAILY GK UPDATES: 7th JUNE 2012

1. The 12th annual summit of the Shanghai Cooperation Organisation (SCO) 2012 kick off in Bejing today to discuss closer security and economic ties among its members.
NOTE:- The 6 members of  SCO are — China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan.
2. State Bank of India today cut its fixed deposit rates by 0.25 per cent across select maturities.
3. Union Cabinet has approved capital infusion of Rs. 632 crore in some Regional Rural Banks to improve their capital to risk waited assets ratio.
 NOTE:- The Cabinet approved 50 percent share of the Central government and also decided to extend the scheme of capitalization of weak Regional Rural Banks by another 2 years.
4. China has announced to allocate USD 10 billion worth of loans to members of the Shanghai Cooperation Organization (SCO).
5. China’s central bank today cut benchmark interest rates by 25 basis points in an effort to boost  up the country’s economic slowdown.
NOTE:- This is China’s first cut in interest rates since the depth of the 2008-09 financial crisis.
6. Ace Indian shuttler Saina Nehwal has advanced to the Women’s singles quarterfinals of Thailand Grand Prix Gold badminton tournament after beating Li Han of China in Bangkok today.
7. Union Cabinet approved setting up of an autonomous organization North-East centre for Technology Application and Research at an estimated cost of Rs. 292 crore.
NOTE:- The Centre to be set up at Shillong will be completed in the 12th Plan period.
8. Israeli Prime Minister Benjamin Netanyahu has ordered the construction of 300 new homes at the Jewish settlement of Beit El in the West Bank
9. US President Barack Obama has called British Prime Minister David Cameron to discuss with him the economic situation in Europe and the upcoming G-20 Summit in Mexico later this month.
10. Government will move the Supreme Court next month on the issue of 4.5 per cent sub quota for minorities within 27 per cent reservation of Other Backward Classes (OBCs) in central educational institutions and jobs.
11. Prime Minister Manmohan Singh today set an investment target of at least Rs 2 lakh crore for core sector projects in the current fiscal in a bid to revert back to 9 per cent economic growth.