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Daily G.K. - Top Stories

31 May 2016

BUSINESS AND ECONOMY

No TDS for PF Withdrawals

  • In a move that would provide major relief to subscribers of retirement fund body EPFO, the government has decided no tax would be deducted at source for PF withdrawals of up to Rs. 50,000.
  • The threshold limit has been extended from Rs. 30,000 to Rs. 50,000 of PF withdrawal for TDS.
  • The provision will come into effect from June 2016.

SBI Top Merchant Acquiring Bank

  • State Bank of India has become the top merchant acquiring bank in the country with 2.96 lakh installed point-of-sale terminals as of February 2016.
  • SBI is followed by HDFC Bank, Axis Bank and ICICI Bank.
  • These four banks together contribute to more than three-fourths of the total 13.63 lakh PoS terminals deployed in the country.
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SCIENCE & TECHNOLOGY

First of its Kind Multiple Organ Transplant

  • In a first-of-its-kind procedure, doctors in the U.S. have successfully transplanted a composite skull and scalp flap, along with kidney and pancreas, all from the same donor, in a 55-year-old patient.
  • The experience may open the way to further procedures combining “vascularised composite allotransplantation” (VCA) with organ transplants, in patients who have already accepted the need for lifelong immunosuppressive therapy.
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NATIONAL AFFAIRS

Vice Admiral Girish Luthra Succeeds Sunil Lanba

  • Vice Admiral Girish Luthra succeeded Sunil Lanba as the Flag Officer Commanding-in-Chief of the Western Naval Command.
  • Vice Admiral Lanba will proceed to New Delhi to take over as the Chief of Naval.
  • Luthra was commissioned in the Executive Branch of the Indian Navy in July 1979.
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