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Daily G.K. - Top Stories

11 Dec 2017

INTERNATIONAL AFFAIRS

US, South Korea and Japan to Hold Missile Tracking Drills

The United States, Japan and South Korea will hold two days of missile tracking drills  as tensions rise in the region over North Korea’s fast-developing weapons programmes. The United States and South Korea conducted large-scale military drills last week, which the North said made the outbreak of war “an established fact”. This week’s exercises will be the sixth drills sharing information in tracking ballistic missiles among the three nations

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ENVIRONMENT

New form of matter ‘excitonium’ discovered

Scientists have proven the existence of a new form of matter called excitonium — which was first theorised almost 50 years ago. Researchers from University of California Berkeley and University of Illinois at Urbana-Champaign in the US studied non-doped crystals of the transition metal dichalcogenide titanium diselenide. Excitonium is a condensate — it exhibits macroscopic quantum phenomena, like a superconductor. It is made up of excitons, particles that are formed in a strange quantum mechanical pairing. 

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BUSINESS AND ECONOMY

Bankers Look for Speedy Resolution of 28 Accounts

Bankers are looking to speed up the resolution of 28 accounts including Videocon Industries, Jaiprakash Associates and Uttam Galva Steel as a December 13 deadline looms. These companies are part of the Reserve Bank of India’s second list of defaulters to be referred to bankruptcy proceedings for recovery of more than ₹2 lakh crore. The accounts need to be restructured by December 13 or they’ll end up in the National Company Law Tribunal (NCLT) for the next step in the insolvency process. At that point, banks will have to provide for losses of up to 50% of the loan value, hitting their earnings.

Reliance Retail Plans to Expand B2B Play

Reliance Retail wants to expand its business-to-business play by foraying into distribution of apparel, FMCG and white goods directly to neighbourhood and kirana outlets since it wants to tap a larger pie of the market considering scope of exponential growth in organised retail, currently limited to 8% of the total market. The company wants to tap 92% of the untapped market since it cannot achieve faster growth by just betting on the consumer-facing retail business. For this, it will also offer a complete suite of services to the kiranas such as financing, help in GST compliance and also on managing efficient supply chain and merchandising operations. 

CGM Uma Shankar Elevates as Reserve Bank Executive Director

Uma Shankar, chief general manager (CGM) in charge of the Reserve Bank of India’s financial inclusion and development department has taken over as executive director (ED) in the central bank last week. Shankar has been elevated after Meena Hemchandra the executive director in charge of the central bank's supervision department retired at the end of November.

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SCIENCE & TECHNOLOGY

First-ever breathalyser test for drugs developed

Drug tests could soon be carried out in the same way as those for alcohol: with a simple breathalyser sample. Swedish scientists have developed a new technology that detects tiny quantities of drugs in a person’s breath. The team from the University of Gothenburg found they could successfully detect whether someone had taken methadone based solely on a breath sample.

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SPORTS

India wins Bronze in Hockey World League

World champions Australia defeated Olympic Champions Argentina 2-1 in a hard fought summit clash to defend the Hockey World League Final Crown at the Kalinga stadium. Australia scored through two penalty corner conversions by Jeremy Hayward and Blake Govers to add another crown to their glorious history. 

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NATIONAL AFFAIRS

Father of DNA Fingerprinting Passes Away

Prof Lalji Singh, father of DNA fingerprinting in India, passed away in Varanasi . Founder of Centre for DNA Fingerprinting and Diagnostics, Hyderabad, he was also former director of Centre for Cellular and Molecular Biology (CCMB) and a former vice-chancellor of BHU.Singh was known for his work in molecular basis of sex determination, wildlife conservation, forensics and evolution, and migration of humans.

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