Current Affairs: Daily GK Update 12th May 2017

i. Union Minister of Road Transport and Highways Nitin Gadkari launched the National Highways Authority of India (NHAI) Masala Bond at the London Stock Exchange, UK. 
ii. The initially benchmarked issue of Rs. 1,500 crore was upsized to Rs. 3,000 crore at a price yielding 7.30 percent annually in view of the highly positive response from the investor market.
iii. The transaction marks the largest ever in the five-year issuance and the largest inaugural transaction in Masala Bond market. 

 India to replace Maitri station in Antarctica, expand research activity

i. India has decided to replace the Maitri research station in Antarctica with a new one in the next three to four years. 
ii. The country is also drafting laws to safeguard its interest in Antarctica and is poised to expand its research activity in the coldest continent with the special ice-cutting facility will be procured for the purpose.

SBI revises service charges; to charge ATM withdrawals at Rs. 25

i. State Bank of India (SBI) has announced another revision in service charges with effect from June 1, 2017. All cash withdrawals through ATM will now be charged at Rs. 25 per transaction. Only RuPay classic card will be issued for free.
ii. State Bank of India has clarified that the proposed hike in ATM withdrawal charges will be applicable only to customers of its mobile wallet State Bank Buddy.
Few major changes done by SBI are as follows-

1. Limit of four ATM withdrawals in a month only applies to the Basic Savings Banks deposit account.
2. All Normal Saving Bank accounts will continue to get eight free ATM transactions (5 SBI ATMs + 3 other bank ATMs) in Metros & 10 free transactions in Non-Metro (SBI ATM + 5 Other Bank ATMs) free apart from the bank transaction.
3. Anyone making upto Rs 1 lakh transfer on IMPS will be charged with Rs 5 per transaction plus service tax.
4. Between Rs 1 lakh – Rs 2 lakh and Rs 2 lakh – Rs 5 lakh, service charges are at Rs 15 and Rs 25 each plus service tax.
5. On Basic Savings Bank Deposit (BSBD) account, no charged will be levied for four withdrawals, more than that Rs 50 plus service tax will be charged at any SBI branch, while at any other bank Rs 20 plus tax.

LIC Housing Finance launches new home loan product

i. LIC Housing Finance launched a new product `Griha Siddhi’ which will offer loans for construction, purchase of the house or flat and repairs or renovation to the existing properties.
ii. Under the new product, borrowers will be offered the interest rate of 8.40% up to Rs 25 lakh and for loans up to Rs 1 crore the interest rate will be 8.50% per annum. For women borrowers, the mortgage lender is offering a special interest rate of 8.35% for loans up to Rs 25 lakh.

 Justice Mukul Mudgal elected head of FIFA Governance Committee

i. Justice (Retd.) Mukul Mudgal was elected as head of International Federation of Association Football (FIFA’s) governance committee at the world football governing body’s 67th Congress in Bahrain’s capital city of Manama.





Bengaluru ranked 20th in world’s most affordable tech city Index

i. Bengaluru has been named the world’s most affordable tech city in the new Savills Tech Cities Index 2017. The Indian technology hub is the most affordable out of 22 cities that were graded on different parameters.
ii. Overall, Bengaluru ranks 20th among tech cities in the world while Austin topped the list, followed by San Francisco and New York. But when it comes to the cost of living index, Bengaluru tops the charts with a weekly residential rent for tech employees and household.

Chanda Kochhar receives Woodrow Wilson Award 

i. ICICI Bank chief Chanda Kochhar has become the first Indian woman to be conferred with the prestigious Woodrow Wilson Award for Global Corporate Citizenship.
ii. She received the annual award which was instituted in 1998 by the prestigious Wilson Center to felicitate individuals whose actions and accomplishments either in their careers or through service.

Important Takeaways from above GK Update for Exams are as follows-

• President of Sri Lanka is Maithripala Sirisena and Prime Minister is Ranil Wickremesinghe.
• The capital of Sri Lanka is Sri Jayawardenepura Kotte. This is the administrative capital where most of the administrative institutions exist including Parliament of Sri Lanka.
• The 14th United Nations Day of Vesak is celebrated from 12th May to 14th May in Sri Lanka
• In 2017, United Nations International Day of Vesak will be hosted by Sri Lanka under the theme “Buddhist Teachings for Social Justice and Sustainable World Peace”
• Union Minister for Agriculture and Farmers Welfare is Shri Radha Mohan Singh.
• The rupee-denominated offshore bonds are popularly known as Masala Bonds
• The instrument has been exempted from taxation for transfer among non-residents while a low rate of five percent would be applicable for investors till 2020
• Capital of UK is London and its currency is Pound Sterling
• Theresa May is the PM of UK.
• Dakshin Gangotri was the first Indian scientific research base station established in Antarctica during 1984
• Maitri is India’s second permanent research station in Antarctica. It was built in 1989.
• Chairman of LIC is Vijay Kumar Sharma
• Life Corporation of India was founded on 1 September 1956 and its headquarter is Mumbai.
• 2017 FIFA U-17 World Cup will be hosted by India
• 2018 FIFA World Cup to be held in Russia
• FIFA president is Gianni Infantino.
• Bengaluru named as the Silicon valley of India
• Bengaluru also named as the Information Technology (IT) capital of India.
• CEO of ICICI Bank is Chanda Kochhar
• ICICI Bank headquarter is in Mumbai.