Diaily Gk Update 13 September 2013

Diaily Gk Update 13 September 2013 - General Knowledge Today

Sound pioneer Ray Dolby dies

Ray Dolby, whose audio inventions were widely used in the film and recording industries, has died at 89, it was announced on Thursday.

Dolby, who pioneered noise reduction techniques and surround sound, won two Oscars for technical achievement as well as several Emmys, a Grammy, and a National Medal of Technology among many other honours. 

He held more than 50 patents for his inventions.

“Today we lost a friend, mentor and true visionary,” said Kevin Yeaman, president and chief executive of Dolby Laboratories.

Ray Dolby founded the company based on a commitment to creating value through innovation and an impassioned belief that if you invested in people and gave them the tools for success they would create great things. 

Ray’s ideals will continue to be a source of inspiration and motivation for us all.” 

India’s GDP growth likely to be at 5.2% in 2013: UNCTAD

The Indian economy is likely to grow at 5.2 per cent in 2013 calendar year on the back of rising domestic demand, says a report by UN agency UNCTAD.

In its release of Trade and Development Report 2013, the United Nations Conference on Trade and Development (UNCTAD) said the Indian economy is expected grow at 5.2 per cent in calendar year 2013 as against 3.8 per cent in 2012.

UNCTAD’s India growth forecast at 5.2 per cent for 2013 is however lower than the International Monetary Fund’s projection of 5.6 per cent for the year.

In case of China, the UNCTAD report said, the growth rate is expected to moderately decline to about 7.6 per cent in 2013 from 7.8 per cent last year.

Spain stays atop FIFA rankings

World champions Spain remain top of the FIFA football world rankings followed by Argentina who climbed from fourth to second place.

Following World Cup qualifiers, the September rankings released by football governing body FIFA Thursday has little resemblance to the previous month’s order — with the exception of Spain’s pole position.

Germany slipped from second to third, while Italy after qualifying for the next year’s World Cup moved up from sixth to fourth.

Belgium leapt from 10 to six and Uruguay advanced from 12th to seventh. World Cup hosts Brazil gained one place to eighth, while Portugal left the top 10, moving from seventh to 11th.

Outside of the top 10 England also moved down three to 17th. Both USA and Sweden meanwhile jumped several places to 13th and 22th respectively.

FIFA rankings 

1. Spain 1514 points 

2. Argentina 1263 

3. Germany 1261 

4.  Italy 1199 

5. Colombia 1180 

6.  Belgium 1159

7.  Uruguay 1126 

8.  Brazil 1067 

9. Netherlands 1058 

10. Croatia 1051.

Developing countries may grow at a rate of 4.5-5 per cent in 2013.

RBI recently in its quarterly review has scaled down the growth projection for the current fiscal to 5.5 per cent from its earlier estimate of 5.7 per cent.

Last month, the Asian Development Bank lowered its growth projection for India to 5.8 per cent in calendar 2013 from 6 per cent estimated earlier, citing the slow progress of economic reforms.

International Monetary Fund outlook projects India’s economic growth at 5.6 per cent this year.         

Cabinet approves buying $4.3 billion World Bank bonds

Union cabinet on Thursday approved a proposal to invest $4.3 billion in bonds of International Bank for Reconstruction and Development (IBRD), an arm of the World Bank, which will make India eligible for higher borrowing from the multilateral lender.

The IBRD would be able to lend to India $4.3 billion above the Single Borrower Limit of $17.5 billion, i.e. up to $ 21.8 billion," the government said in a statement after the cabinet meeting, 

The bonds would be of various tenures and the RBI would get return on investment.

 Government said---

The additional borrowing space will enable Government of India to commit new projects with World Bank (IBRD) assistance.

The cabinet also approved the proposal to provide capital funds to Export-Import Bank of India (Exim Bank) during 2013-14 to the tune of Rs 700 crore.

UN Human Rights forum begins in Beijing

The two-day forum will focus on constructing an environment for sustainable human rights development.

Over 100 officials, diplomats and human rights experts from the UN and 33 countries are taking part in the sixth Beijing Forum on Human Rights that began on Thursday.

Its topics will cover rule of law, the internet and protection of human rights and international cooperation in human rights issues.

The annual event was first held in 2008 and has become a key platform for human rights exchanges among different countries, ethnicities and cultures.

This year's forum is being co-organised by the China Society for Human Rights Studies, the largest human rights academic group in the country, and the China Foundation for Human Rights Development.

ICICI Bank launches chip-based credit card

ICICI Bank Ltd, India’s largest private sector bank, has launched ICICI Bank Carbon in partnership with Visa.

The ICICI Bank Carbon will be offered to select ICICI Bank credit card members only. It is available at an inaugural one-time fee of Rs 1,000 plus applicable service tax,” the bank said in a statement.

The member initially needs to generate a CodeSure PIN on the ICICI Bank Web site before using the card. This is a one-time activity.

The PIN can instantly help generate a one-time-passcode (OTP) on the card plastic itself. The display panel on the back of the card then shows this OTP which can be used to authenticate online transactions.

In case of a loss of the physical card, it cannot be used for online transaction without the CodeSure PIN, the bank said.

The card provides reward points, complimentary movie tickets, access to culinary treat programme, access at select airport lounges in India and complete waiver of 2.5 per cent fuel surcharge at HPCL fuel stations.

Powered by Visa CodeSure, it provides EMV chip technology with embedded microchip that can minimise the risks of skimming and counterfeit of cards, especially for online shopping.

Catholic Syrian Bank seeks RBI nod for divesting further stake

Catholic Syrian Bank have sought the Reserve Bank's nod for divesting further stake in the bank to a UAE-based businessman.

Siam Vidhya Group, promoted by Bangkok-based Non-Resident Indians, had acquired 36.18 per cent equity shares of the city-based bank in 1994. 

In May 2012, the holding of stakes by the Group declined to 17.99 per cent, said Catholic Syrian Bank Managing Director and Chief Executive Officer Rakesh Bhatia.

With the proposal to transfer of shares, Siam Vidhya Group's holding in the bank will come down to 10 per cent of the total paid up capital as per the directions of the Reserve Bank.

Central Bank, Suvidhaa launch a channel card for retailers

Central Bank of India and Suvidhaa today launched a prepaid card for retailers that will enable people to pay their utility bills, taxes and book tickets by going to the nearest Suvidhaa outlets.

The Suvidhaa retailer will charge a small service fee over and above the bill amount.

The card can be used by any customer, including those who do not have a bank account or an email id.

There are over 65,000 Suvidhaa retailers across 2,800 towns in India.

7th century gold discovered in Israel

A treasure trove containing 36 gold coins and precious gold and silver jewellery dating back to early seventh century AD has been unearthed near the Temple Mount in Israel. 

The Ophel cache is only the third collection of gold coins to be found in archaeological excavations in Jerusalem, said Lior Sandberg, numismatics specialist at the Institute of Archaeology. 

Found with the coins were a pair of large gold earrings, a gold-plated silver hexagonal prism and a silver ingot. 

Given the date of the items and the manner in which they were found, Dr Mazar estimates they were abandoned in the context of the Persian conquest of Jerusalem in 614 AD.