Current Affairs 6th April 2019 | Daily GK Update

i. Phayeng Village in Imphal West district of Manipur has become India’s first carbon-positive settlement. 

ii. A village is given carbon-positive tag if it sequesters more carbon than it emits, slowing accumulation of greenhouse gases (GHGs) and mitigating effects of climate change. Phayeng Village is scheduled caste village of the Chakpa community.

2. David Malpass Named World Bank President

• World Bank Headquarters in: Washington DC, USA, Established in: 1944.

i. The Competition Commi­ssion of India (CCI) approved engineering and construction major Larsen & Toubro’s (L&T’s) proposal to acquire up to 66.15% stake in Mindtree.

ii. With this nod, L&T has overcome the first major regulatory hurdle in its bid for ‘hostile’ takeover of the Bengaluru-headquartered IT services firm.

4. Lakshmi Vilas Bank To Merge With Indiabulls Housing Finance

i. The board of Lakshmi Vilas Bank (LVB) approved the merger of the private sector lender with Indiabulls Housing Finance (IBH) through a share swap deal. 

ii. The merger will also enable Tamil Nadu-based LVB to obtain a larger geographical presence. The merged entity will have a net worth Rs19,472 crore and a loan book Rs1,23,393 crore for the nine months of FY19.

i. Praful Patel, president of All India Football Federation (AIFF), has become the first Indian to be elected as a member of FIFA Executive Council. 
ii. Patel, who serves as a Senior Vice President at the Asian Football Confederation (AFC), was one of the eight candidates vying for the spot in the election, which was held during the 29th AFC Congress in Kuala Lampur in Malaysia.