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Daily G.K. - Top Stories

19 May 2016

INTERNATIONAL AFFAIRS

OECD Tax Information Exchange Pact

  • Panama officially signed on to comply with OECD standards on exchanging tax information, a move that comes after the Panama Papers data leak.
  • The Panama Papers reveal the full extent to which the world`s wealthy, alongside criminals, create nominee companies to stash and transfer assets out of sight of the law and tax officials.
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BUSINESS AND ECONOMY

Biggest Quarterly Loss in Indian Banking History

  • Punjab National Bank posted a record Rs. 5,367.1 crore net loss in Q4, making it biggest quarterly loss by any public sector lender in the Indian banking history.
  • A three-fold surge in provisioning for bad loans, including for A three-fold surge in provisioning for bad loans, including for power discoms and Punjab food grain related loans, were the main drags on the bank's performance and Punjab food grain related loans, were the main drags on the bank's performance.
  • On full year basis, the bank reported a loss of Rs. 3,974 crore for 2015-16.
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SCIENCE & TECHNOLOGY

First-ever Object Beyond Neptune Detected

  • NASA's New Horizons spacecraft has twice spotted a first object in Kuiper Belt - a region of the solar system which is beyond the orbit of Neptune.
  • “1994 JR1” is a 145-km-wide Kuiper Belt object (KBO) orbiting more than 5 billion km from the sun.
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NATIONAL AFFAIRS

Successful Test of Nuke-capable Prithvi-II Missile

  • The indigenously developed surface-to-surface nuclear capable Prithvi-II missile was successfully test-fired.
  • Inducted into India's armed forces in 2003, Prithvi II, it is the first missile to be developed by DRDO under India's prestigious Integrated Guided Missile Development Program.
  • Prithvi-II has been designed to operate with both liquid and solid fuels and is capable of carrying both conventional and nuclear payloads.
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