Daily GK Potion – 3rd and 4th December 2015

1. Memorandum of Understanding between India and Israel in the field of water resources management and development cooperation
   • The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval for signing of a Memorandum of Understanding (MoU) between India and Israel in the field of water resources management and development cooperation.
   • The bilateral cooperation will benefit both the countries in strengthening the techniques in efficient use of water, micro-irrigation, recycling/re-use of waste water, desalination, aquifer recharge and in-situ water conservation techniques. A Joint Working Group shall be formed to monitor the activities to be carried out in fulfilment of the MoU.
2. Cabinet approves signing of tax protocol between India and Japan
   • The Union Cabinet has approved signing of a protocol between India and Japan for amending the Double Taxation Avoidance Convention (DTAC) in order to facilitate tax-related exchange of information.
   • DTAC was signed between the two countries in 1989 for avoidance of double taxation and prevention of fiscal evasion through a protocol.
   • There is a further provision in the protocol for sharing any information received from Japan with authorisation of the its competent authority and vice versa in respect of an Indian resident with other law enforcement agencies
3. Goa CM launches National Food Security Act
   • Goa Government has launched the National Food Security Act (NFSA), 2013 to benefit more than one third of the state’s population.
   • Around 5 lakh 11 thousand persons in the targeted Public Distribution System (PDS) in Goa will receive 5 kgs subsidised rice or wheat per person per month.
   • Rice will be given at the subsidised rate of 3 rupees per kg and wheat at the rate of 3 rupees per kg to target persons.
   • For effective implementation of this scheme, state government’s civil supplies and distribution departments have scrutinised the PDS households.
   • They also have digitised the ration cards and updated the consolidated data with Aadhar card and other identifications prior to launching the scheme for implementation of NFS Act.
4. Cabinet Gives Nod To Setting Up Of 6 New IITs
   • Six new Indian Institutes of Technology (IITs) will be set up in the states of Andhra Pradesh, Chhatisgarh, Goa, Jammu and Kashmir, Kerala and Karnataka with the Union Cabinet today clearing a proposal in this regard.
   • At present, there are 16 IITs in the country.
   • Each new IIT will have an initial intake of 180 students in its first year which would increase to 450 in the second year and to 928 (840 Undergraduates, 80 Postgraduates and 8 PhDs) in the third year of their operation
   • The total cost for running these IITs is Rs 1,411.80 crore and will be incurred between 2015-16 and 2018-19
5. Justice T.S.Thakur sworn in as 43rd CJI
   • Justice Tirath Singh Thakur was on Thursday sworn in as 43rd Chief Justice of India by President Pranab Mukherjee at an elegant function in Rashtrapati Bhavan
   • The senior-most judge of the apex court, 63-year old Justice Thakur took over from incumbent Justice H L Dattu who retired on Wednesday.
   • As a Supreme Court judge, he headed the bench which had delivered the verdict to reform cricket controlling body BCCI in the wake of allegations of betting and spot-fixing scandal in the Indian Premier League.
   • Born on January 4, 1952, he would have the tenure as CJI for a little over one year and would retire on January 4, 2017.
     
6. First India International Science Festival begins at IIT-Delhi
   • Union Minister for Science & Technology and Earth Sciences, Dr. Harsh Vardhan said in Delhi that the IISF is expected to be the country’s biggest ever Technology and Industrial Expo.
   • The Five day festival will showcase the achievements of Indian scientists and institutions.
   • Approximately 3000 young scientists from the country are expected to participate as delegates.
7. 44th Navy Day observed on 4 December 2015
8. Adidas India’s Pulin Kumar won prestigious INBA Award
   • Pulin Kumar, Group Senior Legal and Compliance Director of Adidas India, on 26 November 2015 was conferred with the Indian National Bar Association’s (INBA) General Counsel of the year 2015 – Retail Award in New Delhi.
   • Kumar has been conferred with the award for his contribution to the legal field in and outside India for more than 21 years.
9. Indian-American Dr Vijay M Rao named as Chairperson of RSNA
   • Indian-American Dr Vijay M Rao was named as the chairperson of the prestigious Radiological Society of North America (RSNA) Board of Directors on 2 December 2015.
   • As the chairperson at RSNA, Dr Rao brings her expertise in health services and policy matters to bear in a shifting healthcare landscape of increasing complexity and declining reimbursements.
   • The Radiological Society of North America (RSNA) is an international society of radiologists, medical physicists and other medical professionals with more than 54000 members from 136 countries across the globe.
10. Axis Bank launches country’s first ‘display variant’ debit card
    • Country’s third largest private sector lender Axis Bank has launched a ‘display variant’ debit card which does away with the hassles of generating one time password (OTP) over SMS while transacting.
    • The card, which is being made available for high-value NRE customers, has an embedded EMV chip, a display screen and a touch-sensitive button which helps generating the OTP on the card itself.
    • The card comes with free ATM access across the world, offers on lounge access, loyalty points on transactions and an air accident insurance of Rs 25 lakh and a personal accident insurance of Rs 5 lakh.

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