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Daily G.K. - Top Stories

04 Nov 2016

INTERNATIONAL AFFAIRS

Brexit Needs Parliament's Approval

  • A British court ruled that the government needs parliamentary approval to start the process of leaving the European Union, potentially delaying Prime Minister Theresa May's Brexit plans.
  • The government will appeal against the High Court ruling and Britain`s Supreme Court is expected to consider the case early next month.
  • The High Court ruled that the government needs parliament`s backing to trigger Article 50 of the EU`s Lisbon Treaty, the formal step needed to start the process of exiting the bloc.
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BUSINESS AND ECONOMY

Four-tier GST Tax Structure

  • The GST Council finalised the 4-tier GST tax structure of 5, 12, 18 and 28 per cent.
  • The council finalised the slabs with with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess.
  • The GST rates will come as a relief for the common man as essential items including food will be taxed at zero rate.

ICICI Bank Cuts Home Loan Rate

  • ICICI Bank cut its home loan rate by 0.15 per cent for new borrowers. Home loans up to Rs. 75 lakh for women borrowers will now attract an interest of 9.15 per cent from the earlier rate of 9.30 per cent.
  • At the same time, the new rate for salaried class has been reduced to 9.20 per cent, as against 9.35 per cent earlier. The new rate is effective from November 2.
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SCIENCE & TECHNOLOGY

Successful Launch of Long March-5

  • China successfully launched its most powerful heavy-lift rocket which is expected to be used in future space programmes like building a permanent space station and for moon and Mars missions as the Communist giant seeks to become a major space power.
  • Long March-5, a newly developed rocket, was launched from the coastal Wenchang Space Launch Centre in southern Hainan Province.
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NATIONAL AFFAIRS

CISC Gets New Chief

  • Lt Gen Satish Dua has taken over as the Chief of Integrated Defence Staff to the Chairman Chiefs of Staff Committee (CISC).
  • Prior to this, Gen Dua was General Officer Commanding of the Army's strategic Chinar Corps (15 Corps).

Lakshmi Vilas Bank Celebrates 90th Anniversary

  • Karur-based private lender Lakshmi Vilas Bank celebrated its 90th anniversary.
  • The bank was founded in 1926 by a group of seven businessmen of Karur under the leadership of Shri V. S. N. Ramalinga Chettiar.
  • The bank presently has 462 branches.
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