GK Update 5 August 2016

1.Vijay Rupani to be CM of Gujarat while Nitin Patel his Deputy

i. In a surprise move, BJP state chief Vijay Rupani has been named as the new Chief Minister of Gujarat while Nitin Patel as Deputy CM after a meeting of the BJP legislators at State Party headquarter. 
iii. The 60-year-old Nitin Patel is a Cabinet Minister for Health, Medical Education, Family Welfare, Road and Building, Capital Project in the government of Gujarat in India. He was formerly a cabinet minister for water supply, Water Resources, (excluding Kalpsar Division), Urban Development and Urban Housing. He was elected to Gujarat Legislative Assembly from Mehsana in 2012.

2. First Tech Meet of Hydrocarbon Vision 2030 

i. The first technology two-day meet under the Hydrocarbon Vision 2030 for Northeast India has begun in Guwahati and deliberate various issues regarding implementation of the document which envisages an investment of Rs 1,30,000 crore. 
ii. The meet is a stepping stone to put the north-east region on top of Indian energy map by utilising its hydrocarbon potential in line with the Hydrocarbon Vision 2030.
iii. The experts from different PSUs and private sector oil firms are attending the two-day technology meet. The Technology Meet is an initiative of the sub- committee of the upstream sector led by ONGC and has members from upstream national oil companies as well as private companies.

3. Goa to implement 7th Pay Commission from Nov 1

i. Goa Chief Minister Laxmikant Parsekar has stated that the 7th Pay Commission recommendations would be implemented in the state from November 1st. 
ii. While the pending arrears from January to October 2016 would be deposited in the employee provident fund (PF) and National Pension System (NPS). 
iii. A provision of Rs.2,553 crore has been made in the state budget towards this implementation.  As the state government will have to pay Rs 272 crore per month as against Rs 213 crore per month as per the existing scale, which will be an additional burden of Rs 59 crore. 

4. Odisha opens 100 new multi-purpose calamity shelter units

i. Chief Minister Naveen Patnaik has dedicated 100 multi-purpose shelter houses to the people of Odisha for use during floods and cyclones with an aim to ensure zero casualty during calamities. 
ii. These 100 multi-purpose calamity shelter units have been inaugurated by the CM across 17 districts of the state which include Puri, Ganjam, Balasore, Bhadrak and Kenrapara, Malkangiri, Keonjhar and Cuttack, Boudh and Jajpur, besides in Bargarh, Kalahandi, Nayagarh and Subarnapur.
iii. Theses 100 new shelters will add to the state’s existing 526 multi-purpose shelter houses, adding people can take shelter in these places during calamities like floods and cyclones. The chief minister also stated that more shelter houses are already under construction and the state will have 879 multi-purpose shelter houses by end of this year. 

5. RBI imposes penalty on two cooperative banks of Chhattisgarh

i. Reserve Bank of India has imposed the penalty on two cooperative banks of Chhattisgarh under the Banking Regulation Act, 1949. 
ii. The Zila Sahakari Kendriya Bank Maryadit, Raipur, and Raipur Urban Mercantile Cooperative Bank Limited are the two on which RBI imposed the penalty of five lakh rupees each. 
iii. The Zila Sahakari Kendriya Bank Maryadit was penalised for violation of the directives/guidelines of the Central Bank on 'Know Your Customer' norms. While the Raipur Urban Mercantile Cooperative Bank Ltd faced action for violation of the directives on the prohibition of grant of loans and advances to own directors or their relatives or concerns in which they are interested. 

6. Corporation Bank launches group credit life insurance scheme

i. Mangalore-based mid-sized public sector bank, Corporation Bank has launched ‘group credit life insurance scheme’ of LIC of India in Mangaluru. 
ii. It has been launched by the Jai Kumar Garg, Managing Director and Chief Executive Officer of Corporation Bank. The scheme has been made available initially at all the branches of Mangaluru zone. It will later be extended to all the branches of the bank.
iii. The scheme is available to customers in the age group of 18-60 years who have taken term loan from the bank. The scheme covers various term loans, including retail loans and loans to MSME and agriculture.

7. Nita Ambani elected as the first Indian woman member of IOC

i. Noted sports promoter and founder chairperson of Reliance Foundation, Nita Ambani has been elected as an individual member of International Olympic Committee. 
ii. With this, she became the first Indian woman to join the prestigious body which governs Olympic sports in the world. She had been nominated for the same in June by the IOC Executive Board and was elected by IOC members in Rio de Janeiro on Thursday at the 129th IOC Session.
iii. The 52-year-old Nita is the only individual member from India and her appointment at the world body is until she attains the age of 70. 

8. Vinod Rai steps down from IDFC Bank’s board

i. Former Comptroller and Auditor General (CAG) of India Vinod Rai has stepped down from private sector lender IDFC Bank’s board. However, he will continue to be the non-executive independent chairman of IDFC Ltd. 
ii. The decision has been taken to avoid conflict of interest as Rai is also the chairman of Bank Board Bureau (BBB). The BBB will not only select board members of public sector banks but will also devise strategies for them.
iii. Mr. Rai was on Mumbai- headquarter IDFC Bank board since its inception in October 2015. He was appointed as the Chairman of Bank Board Bureau on 28 February 2016. He is also the current chairman of UN Panel of External Auditors and Honorary Advisor to the Railways as well as a member of the Railway Kaya Kalp Council. He was the 11th Comptroller and Auditor General (CAG) of India.

9. Assamese Litterateur Mahim Bora passed away

i. Noted Assamese litterateur Mahim Bora has passed away due to old age problems. He was 92 years old. 
ii. He was a Padma Shri (2011) and Sahitya Akademi winner. He had received the Sahitya Akademi award for his most popular work ‘Edhani Mahir Hanhi’ in 2001 and the Assam Valley Literary award in 1998.
iii. Mr. Mahim Bora's literary works include ‘Kathanibari Ghat’, ‘Bohubhuji Tribhuj’, ‘Much aru Manuh’, ‘Top’, ‘Tinir Tini Gol’. His ‘Chinta Bichitra’ is a work on criticism.

10. IBJA announces awards for Indian medal winners at Rio 2016 Olympics

i. India Bullion and Jewellers Association (IBJA) has announced 500 gms Sovereign Gold Bonds and silver to the Indian medal winners at the Rio 2016 Olympics. 
ii. The Sovereign Gold Bonds of 500 gms will be awarded to the Gold Medal winners and 1 kg silver will be awarded to Silver Medal winners.
iii. As India is scheduled to compete at the 2016 Summer Olympics in Rio de Janeiro, Brazil. And this time, the Indian Olympic Association is going to send the nation's largest ever delegation in Summer Olympic history.