Daily GK Update 11th March 2017

National News

Virbhadra Singh led Himachal Pradesh government has launched mobile app and website titled ‘MeraHunar HP’ or ‘My Talent’to help skilled and semi-skilled workers find jobs.
The mobile app will connect prospective employers with job aspirants as the latter’s resume will contain addresses and contact numbers. This initiative will foster the skill development scheme and be of great help to pass-outs of industrial training institutes also make available real-time employment data of the state.

International News

Google acquires Kaggle for boost data play
Technology giant Google has announced the acquisition of Kaggle, a start-up that hosts a number of data scientists, for an undisclosed amount at the Cloud Next 2017 conference. Kaggle and Google Cloud will continue to support machine learning training and deployment services while offering the community the ability to store and query large datasets.

Banking & Economic News

RBI Restricts Cash Loan Against Gold by NBFC to Rs 25,000
Non-Banking Finance Companies (NBFCs) cannot lend more than Rs 25,000 in cash against gold according to RBI.The earlier provision for NBFC was that high-value loans against the gold of Rs 1 lakh and above must only be disbursed by cheque. RBI reduced the amount to Rs 25,000 from the earlier Rs 1 lakh in line with the provisions of the Income Tax Act.

IBM Researchers Creates World’s Smallest Magnet to Store Single Bit Data
A team of researchers at IBM has created the world’s smallest magnet using a single atom which can store one bit of data on it.Currently, hard disk drives use about 100,000 atoms to store a single bit. The IBM scientists used a scanning tunneling microscope (STM) to build and measure isolated single-atom bits using the holmium atoms.  Then, they used an electrical current to write and read binary data (1s and 0s) on the atom.

Digital wallet player Paytm will now levy a 2% fee for adding money to Paytm wallet using credit cards.
This is a result of multiple users using Paytm to get free credit by using credit cards to top up their digital wallets and transferring the money back to their bank accounts at zero transaction cost. The digital payment wallet will, however, provide an equivalent amount of cashback for using credit card to add money to the wallet. The cost of adding money to the wallet through other modes such as net banking and debit cards remains non-chargeable

Government has released a set of guidelines for wallet firms.
In a bid to make transactions through e-wallets safer and strengthen the grievance redressal mechanism for consumers, a government has released a set of guidelines for wallet firms.The draft Information Technology (Security of Prepaid Payment Instruments) Rules 2017 which have been released for public consultation by the ministry of electronics and IT cover an entire spectrum such as protecting consumer information, especially financial data. The Rules mandate that each Prepaid Payment Instruments (PPI) company or wallet firm will have a privacy policy posted on its website.It will also have to appoint a chief grievance officer, the contact details of whom will have to be prominently displayed on the website. The grievance officer will have to “act upon” any complaint within 36 hours and “close” it in a month’s time.

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