DAILY GK UPDATE - 23rd April

1.    RBI for two-stage verification for online transactions

i. Worried over rising number of frauds in online banking, the Reserve Bank of India (RBI) has suggested that banks introduce two-stage authentication to ensure security of transactions.

ii. The RBI report on �Enabling Public Key Infrastructure (PKI) in Payment System Applications� said banks should also inform customers about risks associated with different types of online banking transaction.

iii. Internet banking applications of all banks should mandatorily create authentication environment for password-based two-factor authentication as well as PKI-based system for authentication and transaction verification in online banking transaction,� the report said.

iv. There are various PKI-enabled electronic payments systems introduced by the RBI such RTGS, NEFT, CBLO, Forex Clearing, Government Securities Clearing, and Cheque Truncation System (CTS). In volume terms, these systems contributed 25.1 per cent whereas these systems contributed 93.7 per cent share to the total payment transactions carried out in 2012-13 in value terms.

v. �The objective of an effective payment system is to ensure a safe, secure, efficient, robust and sound payment system in the country. In order to secure electronic documents and transactions and to ensure legal compliance, digital technology is used,� it said.

2.    RBI curbs banks from extending guarantees, �letters of comfort� to overseas arms of firms

i. The Reserve Bank of India on Tuesday imposed restrictions on non-fund based credit facilities � guarantees, stand-by letters of credit, letters of comfort, and so on � extended by banks to Indian companies� overseas arms.

ii. Further, the central bank disallowed repayment of rupee loans taken from the domestic banking system through external commercial borrowings (ECBs) extended by overseas branches/subsidiaries of Indian banks.

iii. The overseas arms of India companies include joint ventures, wholly-owned subsidiaries, and wholly-owned step-down subsidiaries. The RBI directed banks, including their overseas branches/subsidiaries, not to issue non-fund based credit facilities on behalf of overseas arms of Indian companies for the purpose of raising loans/advances of any kind from other entities except in connection with the ordinary course of overseas business.

Non-fund based credit

This directive has been issued as the RBI has found that banks were extending non-fund based credit on behalf of Indian companies� overseas arms for purposes which are not connected with their business.

3.    A new book on Sachin Tendulkar

i. Greater than Bradman: celebrating Sachin, the greatest batsman in Test history�, This is the title of a new book on cricket legend Sachin Tendulkar by Rudolph Lambert Fernandez, a Chennai-based author.

ii. Tendulkar�s 41st birthday � his first after retirement � falls on April 24 and the author believes the book would present the Indian maestro as the greatest batsman of all time.

iii. This book is a celebration of Sachin�s greatness and what he stood for on the cricket field.

iv. It (the book) is an analysis. It is a first of its kind, forensic study that aims to set the record straight. The book uses illustrations from science, history and the martial arts to challenge the unanimous popular position.

4.    Railways launches new mobile app to track train schedules

i. Railways has launched a new mobile application which can be used for enquiries including train running status.

ii. An official release issued in New Delhi said, the new mobile application will have various features including 'Spot your train' option where passengers can get information about current position, expected time of arrival and departure of a train at a particular station. 
iii. The 'Train Schedule' feature provides complete schedule of a train with all stoppages enroute and in Trains between Stations query, one can find out the list of all types of trains available between any two stations.
iv. Besides, it also provides features for query on rescheduled, diverted and cancelled trains. The mobile App has been launched for Windows 8 phones and will be further developed for other mobile platforms.

5.    DGCA allows in-flight use of mobiles, laptops on flight mode 

i. DGCA on Wednesday amended the rule which bans use of portable electronic devices (PEDs) and allowing their usage in all phases of flight but on a non -transmitting or flight mode.

ii. Please put your mobile phones on the flight mode'. Now on, you may hear an airhostess announcing this before your flight takes off instead of asking you to switch it off!! 

iii. With the implementation of the new rule or Civil Aviation Requirement (CAR), flyers can now turn on their cellphones, tablets or laptops on 'flight mode' to work, play video games, listen to music, watch pre-loaded movies or type their emails. 
iv. The mails would, however, be sent only after the plane lands at an airport. 
v. Maintaining that this has been a long-pending demand of the airlines, aviation experts say it would give passengers more time to work or catch up on their chosen form of entertainment. 
vi. In particular, it would benefit those flying on no-frill carriers which provide no access to any in-flight entertainment. 
vii. The aviation regulator has also laid down training guidelines for the flight crew to handle the new facility being given to the air travellers. 
viii. The new rule also directs all airlines to report to the Directorate General of Civil Aviation (DGCA) any suspected or confirmed PED interference or smoke or fire caused by them, the sources said. 

6.    India, Bhutan ink pact for hydropower JVs through PSUs of both countrie

i. India and Bhutan have signed an agreement in Thimphu for further developing hydro power, strengthening bilateral relations and cementing strategic relations between the two countries. 

ii. The framework, Inter-Governmental Agreement between Bhutan and India concerning development of Joint Venture Hydropower Projects through the Public Sector Undertakings of the two Governments, was signed by the Secretary Ministry of Economic Affairs Bhutan , Mr. Sonam Tshering, Secretary Ministry of Power, Government of India Mr P.K. Sinha.

iii. The Inter-Governmental agreement provides the framework for implementing four Hydro power projects totaling 2120 MW, on a Joint Venture-model between Public Sector Undertakings of the two countries.
iv. At present three hydro-electric projects (HEPs) totaling 1416 Megawatt are already operational in Bhutan and are supplying electricity to India. Three more HEPs totalling 2940 MW , are under construction, and are scheduled to be commissioned by 2018.

7.    Brazuca around the World launched by adidas on 2014 FIFA World Cup Brazil

i. The adidas has started a weekly series of online documentary-style films titled Brazuca around the World to excite football fans as the 2014 FIFA World Cup Brazil gets closer.

ii. The series of the film was launched by Adidas on its YouTube Channel on 22 April 2014. 

iii. The film has been shot via brazucam that involves six HD cameras, placed on the official ball of the 2014 FIFA World Cup in Brazil. Thebrazucam technology will allow its fan to enjoy a 360 degree view of the action.

8.    Cadbury India changed its name to Mondelez India Foods Limited

i. Cadbury India Limited announced to change its name to Mondelez India Foods Limited.  Cadbury India Limited is a subsidiary of Mondelez International Inc.  

ii. The change in name of Cadbury is in line with the gradual changeover of the name of all subsidiaries of Mondelez International globally. Mondelez means monde for world and delez for delicious.

iii. The new name of the company will appear on the back of pack of the products.
iv. Mondelez International Inc. is a global snacking powerhouse with revenue of 35 billion US dollar. Mondelez is a member of the Standard and Poor�s 500, NASDAQ 100 and Dow Jones Sustainability Index.

9.    Jaipur Literature Festival to go to London for a day 

i. For the first time, a day long event of the popular Jaipur Literature Festival will be organised in London as part of an annual festival of South Asian culture in the United Kingdom.

ii. The organisers of JLF have partnered with renowned South Bank Centre for their festival of South Asian culture 'Alchemy' and will hold a day-long event on the lines of the annual literary festival held in Jaipur. 
iii. Alchemy, which will run from May 15-26, celebrates art and culture of countries of the Indian subcontinent and their relationship with the United Kingdom. 
iv. During the 10 day-long festival, the Jaipur Lit Fest is scheduled on May 18. 

v. "The Jaipur Literature Festival is one of the largest, greatest and most innovative literature festivals in the world and to welcome it to the Southbank Centre as part of Alchemy is a real privilege.� 

10.  Benfica won 33rd Portuguese league Football title after four years

i. Benfica on 21 April 2014 won the 33rd Portuguese Football league title after four years. Benfica won the tittle by defeating the Olhanense by 2-0. Benfica won its first domestic title in 2009-10.

ii. Benfica secured the title by winning 11 straight games in the league. Benfica's 11th successive league win gave them an unassailable seven-point lead over second-placed Sporting with two games to play.

iii. Benfica also reached the final of the Portuguese Cup, and the semifinals of the Europa League and Portuguese League Cup.
iv. Benfica and Porto have monopolized the league title since Sporting Lisbon last won it in 2001-02.

About Benfica 
Benfica is a Portuguese multi-sport club based in Lisbon, Portugal. The club is mostly known for its professional football team. The club was founded on 28 February 1904.

11.  Chitra Wins World Women's Senior snooker title 

i. Chitra Magimairaj showed tremendous grit and determination to pocket the Senior snooker title in her first appearance, in Leeds,UK, on Tuesday.

ii. The Bangalore cueist won all her four matches without dropping a single set against accomplished snooker players from across 13 countries.
iii. En route to her final clash with Alena Asmolava of Belarus, the 41-year-old also met compatriot Umadevi Nagraj in the semifinal match.
iv. The former World Billiards champion Chitra has bagged three gold, three silver and three bronze medals in the WLBSA event so far.

12.  Malinga is Sri Lanka's new T20 skipper

i. Paceman Lasith Malinga, who led Sri Lanka to World Twenty20 title in Bangladesh, has been rewarded with the captaincy in the shortest format as struggling batsman Dinesh Chandimal got the axe on Wednesday.

ii. Chandimal orginally was the captain of the side but Malinga had led the team in the final three games, including the summit clash, as stand-in-skipper in their successful campaign. 

iii. Chandimal, who at 23 became Sri Lanka's youngest captain in any format last year, has seen a dip in his batting form during the World T20. 
iv. Left-hand batsman Lahiru Thirimanna has been appointed as Malinga's deputy and will also be vice-captain in the Test and ODI team under skipper Angelo Mathews. 
v. The World T20 win became Sri Lanka's first major international title since they won the World Cup in 1996 under Arjuna Ranatunga. 

13.  India successfully test fires indigenous Akash missile

i. India today test fired its Akash surface-to-air missile from a defence base in Odisha.

ii. The indigenously developed missile, with a 27-km range and an effective ceiling of 15 km, was test fired from the Integrated Test Range of Chandipur in the coastal district of Balasore, 230 km from here.

iii. The 700-kg all-weather missile can carry a 60-kg warhead at speeds of up to Mach 2.5. It can operate autonomously and simultaneously engage and neutralise different aerial targets.

iv. Developed by DRDO, Akash is being produced by Bharat Dynamics Limited as the nodal production agency with the involvement of Bharat Electronics Limited and a large number of other industries.