Daily GK Update: 27th October, 2016 For All The Upcoming Exams

Justice Reddy committee on One Rank One Pension submits report

i. The one-man judicial committee on One Rank One Pension submitted its report to the Defence Minister Shri Manohar Parrikar.

ii. The Central Government had appointed the committee under the Chairmanship of Justice L Narasimha Reddy retired Chief Justice of Patna High Court.

Govt notifies revised DTAA with South Korea
i. India and South Korea on 26 October 2016 signed a revised Double Taxation Avoidance Agreement (DTAA) for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income.
ii. The Provisions of the new DTAA will have effect in India in respect of income derived in fiscal years beginning on or after 1 April 2017.

MMTC ties up with major banks to retail gold coins

i. Public sector major MMTC (Metals and Minerals Trading Corporation of India) has joined hands with HDFC Bank, ICICI Bank and Andhra Bank to retail gold coins with a new buyback option. 

ii. Besides its own outlets across the country, MMTC has tied up with Indian Overseas Bank, Vijaya Bank, Federal Bank and YES Bank to sell gold coins in denominations of 5 gm and 10 gm coin and 20 gm bar.

iii. MMTC has also announced a transparent buyback of gold coins made of recycled gold.

Sunil Bharti Mittal elected as GSMA Chairman

i. Bharti Enterprises Founder and Chairman Sunil Mittal has been elected as GSMA (Global System Mobile Association) Chairman for a two-year period from January 2017 through December 2018.

ii. Current GSMA Chairman Jon Fredrik Baksaas will step down from the Board at the end of 2016. 
iii. Mittal, who is the first Indian to be elected as Chairman of global telecom industry board, will oversee the strategic direction of the organisation, which represents nearly 800 of the world’s mobile operators, as well as more than 300 companies in the broader mobile ecosystem.

Dr. Ajay M. Gondane appointed as the next High Commissioner of India to Australia

i. Dr. Ajay M. Gondane has been appointed as the next High Commissioner of India to Australia. 

ii. Currently he is working as the Additional Secretary (Political) in the Ministry of External Affairs (MEA). 

iii. He has previously served as High Commissioner to Papua New Guinea and as Deputy Consul General of India in New York.

Ericsson appoints Borje Ekholm as new president, CEO

i. Swedish telecom gear maker Ericsson has appointed Borje Ekholm as President and CEO. 

ii. Ekholm joins Ericsson from his current position as CEO of Patricia Industries, a division within Investor.

Salim Gangadharan to replace Amitabha Guha as non-executive chairman in South Indian Bank 

i. Former Reserve Bank of India chief general manager Salim Gangadharan is appointed as the next non-executive chairman of South Indian Bank.  ii. Gangadharan will replace Amitabha Guha will resign on November 1, 2016. 

iii. He has been independent director in the bank since January 2014 and he retired from RBI as principal chief general manager.

Karnal Singh appointed as chief of Enforcement Directorate

i. Senior IPS officer Karnal Singh on 25-10-2016 was appointed the chief of Enforcement Directorate(ED), the agency entrusted with probing money laundering cases. 

ii. The appointments committee of the cabinet has approved the appointment of Singh as director, Enforcement Directorate (ED) till August 31, 2017, ie the date of his superannuation.

Legendary Kashmiri singer Raj Begum dies

i. Celebrated Kashmiri singer Raj Begum passed away on 26 October 2016 in Srinagar, Jammu & Kashmir. Begum was one of the most recognized female singers in the Kashmir Valley.

ii. She was 89. 

iii. She was awarded Padma Shri in 2002.

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