23 Jun
IPCI Info

23 June

INTERNATIONAL NEWS Affairs

  • Today (23rd June) is International Olympic Day.
    • This day was introduced in 1948 to commemorate the birth of the modern Olympic Games on 23 June 1894 at the Sorbonne in Paris.
    • The goal of this day is to promote participation in sport across the globe regardless of age, gender or athletic ability.
  • Today (23rd June) is the World Public Service Day.
    • This day is dedicated by the United Nations to “celebrate the value and virtue of public service to the community”.
    • Since 2003, this day is marked with UN Public Service Awards Ceremony wherein works of public servants are recognised and they are awarded for their contributions in the field.
    • Theme of World Public Service Day 2017 :  ‘The Future is Now’
  • Today (23rd June) is International Widows Day.
    • This day is a United Nations ratified day of action to address the “poverty and injustice faced by millions of widows and their dependents in many countries”.
    • This day was established by The Loomba Foundation to raise awareness of the issue of widowhood.
    • The significance of 23 June is that it was on that day in 1954 that Shrimati Pushpa Wati Loomba, mother of the foundation’s founder, Lord Loomba, became a widow.
    • Theme of International Widows Day 2017 : “Empowering Women for Greater Achievements”
  • UK PM Theresa May has told European Union leaders that any EU citizen living in UK for five years will be given “UK settled status” after Brexit.
    • The new immigration status would grant EU citizens the right to stay in the UK and get health, education and other benefits.
  • Saudi Arabia has recently introduced a ‘family tax’ of 100 riyals (₹1,700 approx) on immigrants living there.
    • Expats employed in Saudi are required to pay the fee per dependent per month in advance.
    • The move which will be effective from July 1 is expected to put a financial strain on 41 lakh Indians living there, reports said.

National news Affairs

  • External Affairs Minister Sushma Swaraj today announced that all passports from now on will be in English and Hindi languages as against the existing passports which are only in English.
    • Swaraj also announced a 10% reduction in passport fee for applicants who are under 8 years of age and for those over 60 years of age.
  • As part of its ‘Power for All’ scheme, the Uttar Pradesh government will be providing free electricity connections to all urban Below Poverty Line (BPL) families.
  • The government today released a new list of 30 cities to be developed as smart cities under the Smart City Mission.
    • Kerala’s Trivandrum has topped the list, while Chhattisgarh’s Naya Raipur and Gujarat’s Rajkot bagged the second and third spots.
    • This new list has four cities from Tamil Nadu (Tiruppur, Tirunelveli, Thoothukudi and Tiruchirappalli) and three each from Uttar Pradesh (Jhansi, Allahabad and Aligarh) and Gujarat (Rajkot, Gandhinagar and Dahod).
  • The central government is going to increase the speed limit on highways and expressways up to 120 kilometres per hour across India.
    • Currently, all national highways in the country have a speed limit of 80 kilometres per hour, except the Yamuna Expressway that has a 100 kilometres per hour speed limit.
  • Department of Science and Technology has launched VAJRA (Visiting Advance Joint Research) Faculty scheme.
    • This scheme enables NRIs and overseas scientific community to participate and contribute to research and development in India.

 

Science & Technology

  • India’s Polar Satellite Launch Vehicle (PSLV) in its 40th flight today successfully launched 31 satellites in one gointo a 505 km polar Sun-Synchronous Orbit.
    • The ISRO-made rocket carried a 712-kg Cartosat-2 series Earth-observing satellite and 30 co-passenger satellites together weighing 243 kg.
    • The co-passenger satellites comprise 29 nano satellites from 14 countries and one from India.
  • NASA today launched satellite ‘KalamSat‘ which is developed by Indian teenagers hailing from Tamil Nadu.
    • Made of reinforced carbon fibre polymer, the 64-gram satellite named after former Indian President APJ Abdul Kalam is the smallest and lightest satellite in the world.
    • Note: It is the first time that NASA has carried out an Indian students’ experiment.
  • The United States has cleared the sale of the state-of-the-art Guardian 22 unmanned Guardian drones to India.
    • The deal to sell UAV drones to India is estimated to be worth $2 to $3 billion.

 

Current Sports Affairs

  • Former powerlifter Kavita Devi will become the first Indian woman wrestler in WWE, after getting selected for the company’s first-ever tournament for women, Mae Young Classi
    • Kavita, who trained at The Great Khali’s wrestling academy in Punjab, appeared at the WWE Dubai tryout this year where she was selected.
    • She will compete at the 32-competitor event in Florida next month.
22 Jun
IPCI Info

22 June

INTERNATIONAL NEWS Affairs

  • Aimed at minimising the risk of injuries and casualties, Philippines President Rodrigo Dutertetoday signed an executive order banning the private use of firecrackers in the country
  • According to the United Nations’ annual population survey, the Global population will hit 8 billion in 2023.
    • The survey found that the world’s population has been increasing by roughly 83 million annually, and the number of people aged over 60 will top 1 billion next year.
    • Important Note : According to this survey, India will overtake China to become the world’s most populous nation by 2024.
  • New York’s Governor Andrew Cuomo has signed an anti-child marriage law to increase the marriageable age from 14 to 18.
  • India and Russia are celebrating 70th anniversary of establishment of diplomatic relations between the two countries.
    • To commemorate this, a series of events has been planned in Russia and in India during 2017.
    • India will also be the Guest Country at the  Petersburg International Economic Forumin June 2017.

National news Affairs

  • A total of 23 Guinness World Records were set at an International Yoga Day event in Ahmedabad, Gujarat on 21st June 2017.
    • More than 54,000 people participated in the event, beating the earlier record of most people doing yoga by a margin of over 18,000.
  • West Bengal Chief Minister Mamata Banerjee has designed flags to be displayed on the state’s IAS officers’ cars after the central government banned beacons.
    • The flags for chief secretary and additional chief secretaries will be rectangular, while those of secretaries will be swallow-tailed and junior administrative grade or selection grade officers will get triangular flags.
  • The government has made it mandatory for the tuberculosis patients to submit their Aadhaar number for availing benefits under the Central government scheme.
    • The move has been made to check fraud and corruption in government schemes.
  • In an attempt to prevent road accidents, police in Andhra Pradesh have launched a ‘Face Wash and Go‘ initiative on national and state highways from 1 AM to 4:30 AM.
    • As part of the programme, the police stopped vehicles on highways and asked drivers to wash their faces.
  • Victims of acid attacks and people with autism, mental illnesses, and intellectual disabilitieswill get 1% reservation for central government jobs and promotions.
    • The move has been proposed by the Department of Personnel and Training and includes vacancies, promotion quotas, and age relaxation.
  • Under the Swachh Bharat Mission Gramin (SBM-G), rural Uttarakhand and rural Haryanahave been declared as the 4th and 5th Open Defecation Free (ODF) States of India.
    • Note : Sikkim, Himachal Pradesh and Kerala  have already been declared as Open Defecation Free.

 

People in News

  • The opposition led by Congress today announced former Lok Sabha Speaker Meira Kumar as its candidate for the Presidential polls.
    • The Dalit leader from Bihar, will contest the elections against BJP-led NDA’s candidate Ram Nath Kovind, who is also a Dalit.

 

Banking, Business & Economic news

  • The Reserve Bank of India (RBI) has asked banks to resolve 55 identified high value cases of bad loans within a period of six months.
    • Otherwise, the central bank would examine those cases and refer for resolution under the new Insolvency and Bankruptcy Code.
    • Earlier this month, RBI had identified 12 accounts for insolvency proceedings, which accounted for 25% of total bad loans of banks.
  • China today announced plans to link its economic corridor in Pakistan to its Belt and Road Initiative (BRI) involving India.
    • The BRI is a part of China’s initiative to link Europe with Asia.
    • Note: India has raised concerns about the China-Pakistan Economic Corridor (CPEC) that passes through PoK, as a threat to its sovereignty.

 

Science & Technology news

  • Social networking platform Facebook has announced India-specific tools that will let users set up a ‘guard’ on their profile picturesto prevent others from downloading and sharing them.
    • Facebook also announced an Android-only tool that will prevent others from taking a screenshot of users’ profile pictures.
    • Note: A blue border and shield will be displayed around the protected pictures.
  • The Delhi Metro has introduced its own smart watches, Watch2Pay.
    • Watch2Pay will enable commuters’ faster entry and exit at metro stations.
    • The watches, priced at ₹6,000 per year, made in partnership with an Austrian company, will have a sim card inside for recharging, but won’t require mobile network to function.

NEW APPOINTMENTS

  • US President Donald Trump’s top aide Kenneth Juster is set to be US’ new ambassador to India.
    • Juster will replace acting US ambassador to India MaryKay Carlson.
  • The UN Secretary General Antonio Guterres has appointed Russian diplomat Vladimir Voronkov to head the newly established UN Counter-Terrorism Centre (UNCCT), despite growing tensions between the US and Russia.
  • Rajiv Gauba was appointed as the new Home Secretary.
    • He is presently working as a Secretary in the Ministry of Urban Development.
  • Pakistan’s limited overs captain, Sarfraz Ahmed, who led Pakistan to their maiden ICC Champions Trophy title, is set to be appointed as the captain of Pakistan’s Test team.
    • The 30-year-old wicketkeeper-batsman will be replacing Misbah-ul-Haq, who retired last month after serving as captain for seven years.

 

 

AWARDS & HONORS

  • Ramamani Iyengar Memorial Yoga Institute, Pune has become the 1st recipient of the Prime Minister’s Award for outstanding contribution to promotion and development of Yoga.
  • Indo-Canadian YouTube personality Lilly Singh, also known as Superwoman, was ranked 1st in the Entertainment category of 2017 Top Influencers list by Forbes.
    • American YouTuber Tyler Oakley was ranked second.

 

Current Sports Affairs

  • Indian shuttler Kidambi Srikanth defeated world number one Son Wan-ho for the second time in a week to reach the quarter-finals of the Australian Open Super series
    • World number 11 Srikanth had earlier defeated the South Korean in the semi-finals of the Indonesia Open, which he eventually won.
    • Note: Srikanth will face compatriot B Sai Praneeth in the quarters.
  • The Indian Olympic Association’s (IOA) chief N Ramachandranhas revealed that IOA has asked the government for permission to bid for the 2032 Olympics and 2030 Asian Games.
    • Ramachandran said the IOA also wanted India to host the Asian Beach Games in 2020 alongside hosting 2020’s Olympic Council of Asia General Assembly meeting and the International Olympic Committee’s 2021 session.
21 Jun
IPCI Info

21 June

International news Affairs

  • Today (21st June) is World Music Day (Fête de la Musique)
    • This day is celebrated in an attempt to promote peace and spread goodwill through melodies.
    • The day is originated in France in 1982 and is now observed in over 120 countries.
    • Aim of this day: To encourage free and accessible concerts or events for the public.
  • India is Afghanistan’s most reliable regional partner, the Pentagon has recently announced in its first Afghan report.
    • The report further stated that India provides training opportunities for Afghan officers.

 

  • China unveils World’s First Train that runs on Virtual Tracks

China has unveiled world’s first train that operates on a virtual track using sensor technology instead of metal rails. This Autonomous Rail Rapid Transit (ART) has been developed by China’s CRRC Zhuzhou Institute

Salient Features of World’s First Train that runs on Virtual Tracks:

  • The train can move at a maximum speed of 70 km/hour. Instead of railway tracks, the train runs on rubber tyres.
  • The 30­metre train has three carriages as of now and can carry 300 passengers. More carriages can be added – taking the total capacity up to 500 passengers.
  • This train is equipped with sensors that allow it to read the dimensions of roads and plan its own route.
  • It is environment friendly as it is powered by electricity. On a full charge, the train can travel for distances up to 40 km.
  • China plans to build a 6.5­kilometre ART line through downtown Zhuzhou for this new train and operations will start some time in 2018.

Railway facts:

♦ The Qinghai Tibet Railway, China – World’s highest train journey.

♦ Beipanjiang River Railway Bridge, China – World’s highest railway bridge

♦ India is building world’s highest rail bridge in Jammu and Kashmir over river Chenab

 

National news Affairs

  • 3rd International Yoga Day is being celebrated today with participation of Crores of people around the world.
    • PM Narendra Modi participated in International Yoga Day celebrations in Lucknow along with UP CM Yogi Adityanath and Governor Ram Naik.
    • Speaking at the third edition of the festival, Modi said the UN had accepted his proposal in record time to celebrate June 21 as International Yoga Day.
    • Modi also described yoga as a “free life insurance”.
  • Under Kaushalya Karnataka scheme, the Karnataka government is going to launch a skill development programme for providing vocational training to domestic workers, which includes people employed as cooks, house help and gardeners.
    • The month-long certification programme,  aims to help workers learn standardised skills in their line of work to enable them to access better employment opportunities.
  • The Karnataka government has re-introduced garbage bins in Bengaluru after seventeen years.
    • Bengaluru’s municipal corporation will install 2,232 pairs of bins for wet and dry waste across the city at a cost of over ₹4 crore.
    • Note : Earlier, Bengaluru followed a dustbin-free policy and garbage was collected by municipal workers from door-to-door.
  • Mumbai will get a suite of floating restaurants by 2018.
    • These restaurants will be located on multiple decks of a ship sailing between Gateway of India and Girgaum Chowpatty.

 

New Appointments

  • Saudi Arabia has relieved Muhammad bin Nayef as Crown Prince, replacing him with Saudi King Salman bin Abdulaziz Al Saud’s son Mohammed bin Salman.
    • Note : Salman, who is now first in line to the throne, was also named Deputy Prime Minister.
  • India has re-nominated Justice Dalveer Bhandari for another term as a Judge at the International Court of Justice, the principal judicial organ of the United Nations
    • Bhandari was elected in 2012 and his current term runs through February 2018.
    • Note: The ICJ elections will be held in November and if elected, Bhandari will serve another term of nine years.

 

People in News

  • Oscar-winning Hollywood actor Daniel Day-Lewis, known for films like Lincoln, My Left Foot and Gangs of New York, has announced his retirement from acting.
    • Phantom Thread, scheduled to release on December 25, is likely to be Daniel’s last film.

 

Obituary

  • Padma Shri-awardee Predhiman Krishan Kaw (69), widely considered the father of India’s nuclear fusion programme, has passed away.
    • He founded the Institute for Plasma Research (IPR),Gandhinagar, which built India’s first tokamak fusion device.
  • Italian fashion designer Carla Fendi (79), the former President of the luxury fashion brand Fendi, passed away today.
  • Veteran actor Amrit Pal (76) passed away.
    • Pal, who made his Bollywood debut with the Jeetendra-Sridevi starrer film ‘Jaal’, was known for his negative roles.

 

Banking, Business & Economic news

  • The Royal Canadian Mint has unveiled a specially designed two-dollar coin, or ‘toonie‘.
    • This is world’s first glow-in-the-dark coin to enter circulation.
    • The coin features two people paddling under the Northern Lights.
    • The coin, created to mark the 150th anniversary of Canada’s confederation, is also the world’s first coloured bimetallic coin.
  • The government has asked banks and post offices to deposit demonetised ₹500 and ₹1,000 notes collected by December 30, 2016, with the RBI within 30 days.
    • Further, cooperative banks have also been allowed to exchange old notes collected by them by November 14, 2016.
    • Entities that don’t submit the notes will have to provide reasons for the same.
  • Mumbai is the most expensive Indian cityfor expatriates and is ranked above major cities like Paris, Canberra, Seattle and Vienna, a report by consulting firm Mercer revealed.
    • Globally, Mumbai was ranked 57 on the list while New Delhi was ranked 99.
    • Further, the capital of Angola, Luanda was named the costliest city globally for expats followed by Hong Kong.
  • The first cargo flight of the Afghanistan-India air freight corridorcarrying Afghan goods to India landed in New Delhi today.
    • The flight from Kabul to Delhi was packed with 60 tonnes of Afghan plants with medicinal uses.
    • The new air corridor aims to boost trade between India and Afghanistan to $1 billion in three years.

 

Science & Technology

  • Estonia will be opening the world’s first-ever data embassynext year in Luxembourg, to keep backup files of its vital information on cloud servers and double secure its data digitally.
    • Luxembourg has been chosen as the location for the embassy, since it has capabilities to provide a high level of security for the stored data, Estonian PM Jüri Ratas said.
  • June 21 marks the beginning of summer in Earth’s Northern Hemisphere, referred to as the ‘summer solstice’, the year’s longest day and shortest night.

 

Current Sports Affairs

 

  • Anil Kumble stepped down as Team India coach today amid reports of a rift with Virat Kohli Following his, BCCI has named its general manager MV Sridhar as the supervisor for the Windies tour.
    • Meanwhile, Sanjay Bangar and R Sridhar are set to continue as the Batting Coach and Fielding Coach respectively.
    • Note: Under Kumble, India won Test series against West Indies, New Zealand, England, Bangladesh and Australia.
20 Jun
IPCI Info

20 June

INTERNATIONAL NEWS Affairs

  • Today (20th June 2017) is World Refugee Day.
    • This day is observed by the United Nation High Commissioner for Refugees (UNHCR)
    • This day is dedicated to raising awareness of the situation of refugees throughout the world.
    • The decision to observe the day, coinciding with Africa Refugee Day, was made by the UN in December 2000.
    • The first World Refugee Day marked the 50th anniversary of the UN Refugee Convention.
    • Theme of 2017 : With Refugees
  • Canadian Prime Minister Justin Trudeau called up PM Narendra Modi today, with both leaders discussing the Paris Climate Agreement.
    • Modi congratulated Trudeau on the 150th anniversary of the Canadian Confederation this year, besides reaffirming India’s commitment to climate change and implementation of the Paris Agreement.
  • India has become the 71st nation to join the United Nations TIR (Transports Internationaux Routiers) Convention.
    • Note : India’s decision to join the convention is part of its multi-modal transport strategy that aims at integrating Indian economy with global and regional production networks through better connectivity.

 

National news Affairs

  • For the first time in India, Indore has installed a 14-foot-tall robot to control traffic.
    • It’s equipped with a public address system and can take photos of traffic violators to generate e-challans when connected to police control room.
    • Developed by Shri Venkteshwar Institute of Technology, the robot took two years and ₹20 lakh to complete.
  • Punjab CM Captain Amarinder Singh has announced the following :
    • The government will establish wellness mohalla (ward) clinics across the state along with initiating the process of providing health insurance to all citizens.
    • Free education for girls in government schools and colleges in the state from Nursery to PhD, fulfilling a poll promise.
    • A waiver of more than ₹20,000 crore in farmer loans, in a move expected to benefit 10.25 lakh farmers.
      • Note: The amount is double the relief announced by Uttar Pradesh and Maharashtra.
    • Minister of State for Power, Coal, New and Renewable Energy and Mines has launched the Energy Conservation Building Code 2017 (ECBC 2017).
      • This has been developed by Ministry of Power and Bureau of Energy Efficiency (BEE)with technical support from the United States Agency for International Development (USAID) under the S.-India bilateral Partnership to Advance Clean Energy – Deployment Technical Assistance (PACE-D TA) Program.
      • This Code prescribes the energy performance standards for new commercial buildings to be constructed across India.
    • Minister for Science & Technology Dr. Harshvardhan has launched a Mobile App titled “Celebrating Yoga”.
      • The aim of the app is to popularise Yoga and encourage people to practice yoga for a scientifically healthy living.

 

New Appointments

  • The United Nations Children’s Fund (UNICEF) has appointed 19-year-old Muzoon Almellehan as its newest and youngest Goodwill Ambassador on World Refugee Day.
    • With this, she became the first refugee to become an Ambassador for the organisation.

 

MOUs & Agreements

  • American global aerospace, defense, security and advanced technologies company Lockheed Martin and India’s Tata Advanced Systems have signed an agreement to produce F-16 fighter planes in India.

 

Science & Technology

  • NASA’s Kepler space telescope has discovered 219 new planet candidates, 10 of which are Earth-like and orbit in their star’s habitable zone, the distance at which liquid water can exist.
    • To date, Kepler has identified 50 near-Earth-size habitable zone candidates, of which over 30 have been verified.
    • Further, it has identified 4,034 planet candidates, with 2,335 being verified as exoplanets.

BANKING & FINANCE

  • IDBI Federal Life partners with SunTec for GST roll out

 

  • IDBI Federal Life Insurance has announced that it has partnered with SunTec.
  • It will help facilitate in computing and invoicing of debit tax and credit tax that will be GST compliant.
  • Under the agreement, for the debit tax mandate SunTec will help in analysing data from various sources for computation and invoicing purposes.

About IDBI

♦ Founded: 1 July 1964

♦ HQ: Mumbai

♦ MD & CEO: Mahesh Kumar Jain

 

  • India and ADB Sign $275 Million Loan for Upgrading Urban Services in 64 Small Towns in Madhya Pradesh
    • The GOI and Asian Development Bank has signed USD 275 million loan for a piped water supply project for rapidly urbanising small towns. It will cover 3 lakh households in 64 small towns in Madhya Pradesh.

Key Points:

  • The state government will provide a USD 124 million counterpart support for the project.
  • As per ADB it will be completed by June 2022.
  • According to ADB reports the urban population in the state is expected to increase from 28 per cent in 2016 to 35 per cent by 2026.
  • It will develop sustainable, inclusive and climate resilient water supply in 64 small and mid­sized towns.
  • It will also provide integrated storm water and sewerage infrastructure in two heritage towns — Khajuraho and Rajnagar.
  • The loan pact was signed by Raj Kumar, Joint Secretary, Ministry of Finance and L B Sondjaja, Deputy Country Director ADB India Resident Mission.
  • Vivek Aggarwal, Secretary, Urban Development, Madhya Pradesh inked the project agreement.

About MP

♦ Capital: Bhopal

♦ Governor: Om Prakash Kohli

♦ CM: Shivrajsingh Chouhan

 

 CURRENT Sports news

  • Bollywood star Shah Rukh Khan has bought the Cape Town-based side in Cricket SouthAfrica’s new T20 league.
    • The team, which will be called Cape Town Knight Riders, is Khan’s third team in T20 leagues after IPL’s Kolkata Knight Riders and Caribbean Premier League’s Trinbago Knight Riders.
    • Note: GMR Group, Delhi Daredevils’ owners, have also bought a team in the league.
  • The International Cricket Council (ICC) today announced the Team of the Champions Trophy 2017, which includes 7 players from the finalists of the tournament, India and Pakistan.  They are,
    • Shikhar Dhawan (India) (338 runs)
    • Fakhar Zaman (Pakistan) 252 runs)
    • Tamim Iqbal (Bangladesh) (293 runs)
    • Virat Kohli (India) (258 runs)
    • Joe Root (England) (258 runs)
    • Ben Stokes (England) (184 runs and three wickets)
    • Sarfraz Ahmed (Pakistan) (captain) (wicketkeeper) (76 runs and nine dismissals)
    • Adil Rashid (England) (seven wickets)
    • Junaid Khan (Pakistan) (eight wickets)
    • Bhuvneshwar Kumar  (India) (seven wickets)

Hassan Ali (Pakistan) (13 wickets)

19 Jun
IPCI Info

19 June

INTERNATIONAL NEWS AFFAIRS

  • Nepal will measure Mount Everest over a period of two years, amid fears the April 2015 earthquake could have affected its stature.
    • The government of Nepal is set to measure the mountain, even though both Indian and Chinese institutions have offered their help.
    • Note:Everest’s height is 8,848 metres but satellite images after the earthquake show the mountain may have shrunk.
  • The Australian government today announced that Indian nationals can apply for visitor visas online, starting July 1.
    • This will offer benefits like 24/7 accessibility, electronic payment of visa application charges and the ability to check application status.

Key Notes:

  • In the first four months of 2017 alone, the department of immigration and border protection granted more than 65,000 visitor visas to Indian nationals.
  • It will offer benefits like the ability to check the status of applications lodged online, all through the department’s Immi Account portal.
  • It will also offer benefits like 24/7 accessibility, electronic payment of the visa application.

 Australia:

♦ Capital: Canberra

♦ Currency: Australian dollar

 

  • French President Emmanuel Macron‘s party has won a clear parliamentary majority.
    • Weeks after his own presidential victory, with nearly all votes counted his La République en Marche, alongside its MoDem allies, won more than 300 seats in the 577-seat National Assembly.

 

NATIONAL news affairs

  • As many as 65 countries will be celebrating ‘Azadi ke 70 Saal‘, a festival marking 70 years of Indian independence this year. 
    • The celebrations will start with a Rasleela, storytelling about Lord Krishna and Gopis (his female friends), in Hungary this month. The celebrations featuring folk artists, traditional cuisine and literary exhibitions, will be held in USA, Brazil, Vietnam, etc.
  • Union Minister Hansraj Ahir today announced that the Centre is planning to set up ‘cow sanctuaries‘ and initiate ‘Project cow‘ on the lines of Project Tiger.

 

PEOPLE IN NEWS

  • BJP chief Amit Shah today announced that Bihar Governor Ram Nath Kovind will be BJP-led NDA’s candidate for the upcoming Presidential poll. 
    • Kovind had been BJP’s Dalit Morcha chief from 1998-2002 and also served as the party’s spokesperson.
    • Narendra Modi has already talked to Congress leaders Sonia Gandhi and Manmohan Singh to apprise them of the decision, so there are maximum chances for Kovind to be elected as the next President of India.
    • Note: The election to India’s top post is scheduled to take place on July 17.

 

BANKING, BUSINESS & ECONOMIC news

  • Nearly three months after Article 50 was triggered, Britain and the European Union today in Brussels started negotiations on the terms on which UK will leave the bloc after 44 years of membership.
    • The negotiations come amid continued uncertainty in UK after PM Theresa May failed to secure a Parliamentary majority which could have strengthened her position in the negotiations.

 

SCIENCE & TECHNOLOGY

  • India’s Mars Orbiter Mission (MOM) completes 1000 earth days in orbittoday, which is more than 5 times the number of days it was designated to last.
  • Two Chinese supercomputers Sunway TaihuLight and Tianhe-2  have been declared the fastest machines in the world, according to a list released today by researchers in the US and Germany.
    • Note:Switzerland’s Piz Daint and the US’ Titan took the third and fourth positions respectively.
  • China is going to send mini-ecosystems comprising of potato seeds and silkworm eggs to the Moon by next year.
    • The move is aimed at studying how the organisms develop in Moon.

 

CURRENT SPORTS AFFAIRS

  • India’s hockey team registered its biggest win over Pakistan with the final tally of 7-1 in the Hockey World League 2017 Semi-Final.
    • This was India’s 56th win over Pakistan in the 168th match between the two nations.
  • Pakistan won their first ever Champions Trophy title after beating defending champions India by 180 runs in the tournament final on Sunday.
    • Important Points to Note :
      • Pakistan last won an ICC ODI tournament 25 years ago when they had lifted the 1992 World Cup.
      • The match was only the third instance of India being beaten by the arch-rivals in an ICC tournament.
    • Indian wrestler Jinder Mahal defeated 14-time WWE champion Randy Orton to retain his WWE Championship at Smackdown’s Money in the Bank event today.
    • India won six medals in the Wushu competition of the 1st ever BRICS Games, which concluded in Guangzhou, China today.
18 Jun
IPCI Info

18 June

INTERNATIONAL NEWS Affairs

  • Today (3rd Sunday of June) is Father’s Day.
    • This is a day to celebrate the journey of fatherhood and honour dads in various parts of the world.

 

National news Affairs

  • The Goa Revolution Day is being observed today to recall the sacrifices of freedom fighters and martyrs of the Liberation struggle.
    • Since 1980, the Government of Goa has been observing June 18 as Goa Revolution Day in commemoration of the struggle for Goa’s freedom struggle by the great socialist and nationalist  Ram Monohar Lohia.
  • MPs, MLAs to have colour-coded ballot papers in Prez poll.
    • Members of Parliament (MPs)will have green-coloured ballot papers.
    • Members of the Legislative Assembly (MLAs) will have pink-coloured ballot papers.
    • Note: The value of an MLA’s vote depends on the population of the state he or she represents but the value of an MP’s vote is fixed.
  • Railway Minister Suresh Prabhu flagged off the Gandhi Darshan tourist train, being run to commemorate 100 years of Sabarmati Ashram.
    • The 10 day special train, which starts from Ahmedabad, has a fare of ₹8,720 and covers destinations like Gaya, Varanasi and Surat, which are connected with India’s freedom struggle and Mahatma Gandhi.
  • Bengaluru became the 2nd Indian city after Delhi to get a full-fledged metro system, following the inauguration of the final section in the project’s first phase on Saturday.
    • Phase 1, comprising an 18-km east-west line and a 24-km north-south line, was built at a cost of ₹13,845 crore, and is expected to be used by five lakh people daily.
  • The MCA21 portal of Ministry of Corporate Affairs, which is used by companies for making filings, was hit by the WannaCry ransomware attack last month, according to an official document.
    • The attack was one of the first such attacks on a Government of India portal.
    • As per the document, the system servers were formatted and the systems were redeployed.
  • External Affairs Minister Sushma Swaraj has inaugurated Know India Programme (KIP) for NRI and PIO youth with a view to provide them with an exposure to the country of their origin so that they can understand India better and more closely.
    • Note : This 3 week orientation programme is an initiative of the Ministry of External Affairs for the Persons of Indian Origin (PIO) between the age group of 18 to 30 years.

 

AWARDS & HONORS

  • Filmfare Awards South 2017
    • R Madhavan was named the Best Actor (Male) for his performance in the Tamil film ‘Irudhi Suttru’.
    • Ritika Singh won the Best Actor (Female) award (Irudhi Suttru).
    • Sudha K Prasad was named the Best Director (Irudhi Suttru).
    • AR Rahmanwas named Best Music Director for the film ‘Achcham Yenbadhu Madamaiyada’.

 

BANKING, BUSINESS & ECONOMIC NEWS

  • The Goods and Services Tax (GST) Council today relaxed rules that require companies to file tax returns online under GST for the first two months of July and August.
    • The council gave extra time for companies to file returns to deal with any lack of preparedness.
    • Finance Minister Arun Jaitley maintained that GST will be rolled out on July 1.
    • Note : The council has set tax rate on state-run lottery at 12%, and government-authorised private lottery at 28%.
  • The Reserve Bank of India (RBI) has recently announced that India’s Current Account Deficit (CAD) narrowed during 2016-17fiscal owing to a contraction in the country’s trade deficit.
    • Note: The CAD for the last fiscal narrowed down to 0.7% of the GDP from that of 1.1% in 2015-16 due to contraction in the trade deficit.
  • India and Afghanistan are set to operationalize their first air-freight corridor in the coming days.
    • The first flight will be operated by Ariana Afghan Airlines, which is the Afghanistan’s national carrier.

 

CURRENT SPORTS AFFAIRS

Indian shuttler Kidambi Srikanth today defeated Japan’s Kazumasa Sakai to win the Indonesia Superseries Premier title.

  • With this he became the 1st Indian man to win this title.
  • He also became the first Indian man to win Superseries Premier, Superseries and Grand Prix Gold titles.
  • The International Cricket Council (ICC)today announced that the ICC World T20 event scheduled for 2018 will be scrapped, with the next edition of the tournament being scheduled for 2020.
    • The council has taken the decision as the top member nations will be busy with bilateral commitments in 2018.
17 Jun
IPCI Info

17 June

International news affairs

  • Today (17th June 2017) is World Day to Combat Desertification and Drought.
    • This day is a United Nations observance with the purpose highlight ways to prevent desertification and recover from drought. Each annual celebration has a different theme. It should be celebrated all over the world.
    • Theme of World Day to Combat Desertification and Drought 2017: “Our land. Our home. Our Future”

 

  • Swedish Parliament voted 254-41 in favour of adopting a climate bill and pledged to reach net-zero greenhouse gas emissions by 2045to tackle climate change.
    • The target demands at least 85% reduction in Sweden’s greenhouse gas emissions from its 1990 levels.
    • Important Note : This makes Sweden the first country to significantly strengthen its climate targets since the Paris Agreement in 2015.

National news AFFAIRS

  • Prime Minister Narendra Modi today inaugurated Kochi Metro, Kerala’s first metro rail system
    • Modi, along with other dignitaries including ‘Metro Man’ E Sreedharan and Kerala CM Pinarayi Vijayan, took a ride on the 13-km long stretch inaugurated in the first phase.
    • The Kochi Metro, which started in 2012, was commissioned in 45 months, the shortest time among all Indian metro services.

 

  • The Puducherry Assembly today passed a resolution, seeking curtailment of the powers granted to Lieutenant Governor Kiran Bedi.

 

Awards & Honors

  • Former Indian cricketer Sachin Tendulkar’s mother-in-law Annabel Mehta has been awarded the MBE (Member of the Order of the British Empire) for her 40 years of work and service to the underprivileged communities in Mumbai.
    • The award will be presented to her at an official ceremony at the Buckingham Palace in London later this year.

 

  • American singer Katy Perry today became the 1st ever person to hit 100 million (10 crore) followers on microblogging site Twitter.

 

  • Syama Sanju was declared the Queen of Dhwayah, the winner at Kerala’s first ever beauty pageant for transgender women.
    • Jaz D’souza was crowned the first runner-up while Harini Chandana came third from among fifteen participants.

 

  • A ceremonial Bat-Signal was lit up at Los Angeles’ City Hall to honour late actor Adam West, known for his portrayal of Batman in American Broadcasting Company’s (ABC) 1960’s television series.

 

  • France has named the medieval village of Kaysersberg as its favourite village of the year, beating 12 contenders.
    • It won the title because of its architecture and friendly locals, according to reports.

 

Banking, Business & Economic news

  • India and Switzerland are going to start exchanging financial account information starting 2019, with the Swiss government formally ratifying the global convention for information exchange on tax matters with 38 countries today.

 

  • The Pension Fund Regulatory and Development Authority has introduced “APY@eNPS“, providing a complete digital enrolment process for Atal Pension Yojana (APY).
    • The ministry asked the subscribers to link their Aadhar with APY for availing co-contribution.
    • Note: APY was launched in 2015 by Prime Minister Narendra Modi and presently, the scheme has over 54 lakh subscribers.

 

  • The Central Vigilance Commission has asked public sector banks not to report frauds below ₹1 lakh to local police, unless their staff is involved.
    • Cases of up to ₹1 lakh and not below ₹10,000 are to be scrutinised by bank officials for further action, CVC said.
    • The decision was taken amid practical difficulties faced by banks in reporting such cases.

 

Science & Technology

  • NASA and US-based researchers have revealed plans detailing various missions that could be sent to Uranus and Neptune by mid-2030s.
    • The proposed missions include orbiters and a fly-by around the icy planets.
    • Note: NASA’s Voyager 2, launched in 1977, has completed flybys of all four gas giants in Solar System- Jupiter, Saturn, Uranus, and Neptune, before heading towards interstellar space.

 

New Appointments

  • Serbian President Aleksandar Vučić on Thursday nominated Ana Brnabić as the Prime Minister of the country.
    • With this, she became the country’s first female and first openly gay Prime Minister.

 

Obituary

  • John Avildsen (81), the Oscar-winning director of 1976 boxing saga Rocky and 1984 karate drama The Karate Kid, passed away.

 

  • Former German Chancellor and architect of Germany’s reunification, Helmut Kohl (87), passed away.
    • He led Germany for 16 years, making him the longest-serving German chancellor since Otto von Bismarck.

 

Current Sports Affairs

  • The Indian hockey team defeated Canada 3-0 in their second match in the Hockey World League Semi-Final 2017 
    • Note : India will next face Pakistan on Sunday, the same day the Indian cricket team faces Pakistan in the Champions Trophy final.
16 Jun
IPCI Info

16 June

International news AFFAIRS

  • India wins Re-Election to United Nations Council On Economic, Social Issues.
    • India is among the 18 countries re-elected to the United Nations’ Economic and Social Council (ECOSOC) for another three-year term.
    • India obtained 183 votes, the second highest after Japan in the Asia Pacific category.
    • Note : Pakistan, whose term on the Council is expiring this year, was also seeking re-election but lost as it got only one vote.

 

  • Britain and the European Union are going to start Brexit negotiations on June 19 as planned initially.
    • Note : Britain had been a member of the EU for 44 years.

 

  • The United Nations General Assembly has approved the establishment of anew United Nations office of counter-terrorism to help Member States implement UN’s global counter-terrorism strategy.
    • UN will now transfer the relevant functions out of the UN Department of Political Affairs (DPA) into the new body.

 

  • India ranks 75th in environmental impact survey says Report
    • India has ranked 75 in environmental impact survey conducted by UK­based

Money Super Market. The survey highlights the individual contribution to the world’s climate and also outlines areas for improvement for each country.

More information about Environmental Impact Survey:

  • The survey has been topped by Southern African country. Mozambique as almost all its energy use comes from green sources.
  • India ranked dismal 75th, with renewable energy making up only 15.2% of all energy used; only 2.2% of waste water being recycled, and municipal waste of 0.34 kg per person being generated daily.
  • Although Mozambique has topped the survey, its neighbouring country South Africa has fared poorly ranking at 95 However South Africa has performed better than developed economies such as US, Canada and Australia.

 

NATIONAL NEWS aFFAIRS

  • Tamil Nadu’s Higher Education Minister KP Anbazhagan has announced that all transgender students will get free education in the Manonmaniam Sundaranar University in Tirunelveli.
    • A monthly stipend of ₹3000 for “meritorious students” was also announced.

 

OBITUARY

  • Former Chief Justice of India (CJI) PN Bhagwati(95), who is credited with introducing the concept of Public Interest Litigation (PIL), passed away.

 

NEW APPOINTMENTS

  • Ireland‘s Parliament today voted 57-50 to confirm Indian-origin minister Leo Varadkar as the country’s new Prime Minister.
    • With this, the 38 year old has became the country’s youngest and first gay Prime Minister. 

 

AWARDS & HONORS

  • Noted writer Yeshe Dorjee Thongshiwas honored with the 5th Bhupen Hazarika National Award 2017.
    • This award honours an outstanding literary work at national and international level.

 

  • The Salman Khan starrer 2016 film Sultan (Directed by Ali Abbas Zafar) is set to be screened at Shanghai International Film Festival 2017.

 

 

BANKING, BUSINESS & ECONOMIC NEWS

  • The government has made Aadhaar mandatory for opening bank accounts as well as for financial transactions of ₹50,000 and above. 
    • Existing bank account holders have been asked to furnish their Aadhaar number by December 31, 2017, failing which the account will become invalid.

 

  • The merger between Flipkart and eBay India has been approved by the Competition Commission of India (CCI).
    • Note : The CCI’s approval is necessary for the formal completion of any acquisition and merger deals in the country.

 

  • The Asian Infrastructure Investment Bank (AIIB) has approved $150 million equity investment loan to the India Infrastructure Fund.
    • Important Note : This loan will be the bank’s first equity investment to fund private projects.

 

  • China, ADB launch green financing platform to fight pollution
    • China and the Asia Development Bank (ADB) have launched a green financing platform to cut pollution in the smog­hit Beijing­Tianjin­Hebei region on 16 of June 2017.

 

Key Notes:

  • The financing platform was launched by the ADB and the China National Investment and

Guaranty Corporation (I&G), the State Development and Investment Corporation (SDIC), as

well as China’s finance ministry and National Development and Reform Commission.

  • China selected five regions this week to take part in pilot government green

financing schemes.

  • It would explore new green credit mechanisms, including the granting of loans that accept

emission trading earnings as collateral.

  • The bank late last year approved a loan of 458 million euros ($510.58 million) for the

platform.

  • The government is only expected to provide around 10­15 percent of the 3­4 trillion yuan

of green investment China needs every year over the next five years.

 

ADB :

♦ Headquarters: Mandaluyong, Philippines

♦ Founded: 19 December 1966

♦ President: Takehiko Nakao

 

MOUS & AGREEMENTS

  • US Defence Department Pentagon has signed a deal to selldomestically manufactured F-15 fighter jets for $12 billion to Qatar despite President Donald Trump criticising the Gulf nation for allegedly supporting terrorism.
    • The sale which aims at increasing security cooperation and interoperability between the two nations signals US support for Qatar which has been facing regional isolation.

Current SPORTS NEWS

  • India defeated Bangladesh by 9 wickets to reach the Champions Trophy 2017 
    • Now India will face arch-rivals Pakistan.

 

  • Kolkata is going to host an exhibition match between Real Madrid Legends and Barcelona Legends on September 15.
    • This match will be a tribute to Barcelona legend Johan Cruyff.

 

  • India’s Skipper Virat Kohli has created a record by becoming the quickest batsman to score 8000 runs in one-day international cricket beating South Africa’s AB de Villier’s record by seven fewer innings.
15 Jun
IPCI Info

15 June

International news Affairs

  • Today (15th June) is ASEAN Dengue Day.
  • 2017 ASEAN Dengue Day Theme : “United Fight Against Dengue”
  • Today is World Elder Abuse Awareness Day (WEAAD).
    • This day was launched on June 15, 2006 by the International Network for the Prevention of Elder Abuse and the World Health Organization at the United Nations.
    • The purpose of this day is to provide an opportunity for communities around the world to promote a better understanding of abuse and neglect of older persons by raising awareness of the cultural, social, economic and demographic processes affecting elder abuse and neglect.
    • Theme of WEAAD 2017 :  “Understand and End Financial Abuse of Older People: A Human Rights Issue”
  • India 60th most innovative globally, China at 22nd – Global Innovation Index (GII) 2017
    • India has ranked 60 on the Global Innovation Index (GII) 2017. The index has been co­authored by Cornell University, INSEAD and World Intellectual Property Organisation.
    • Global Innovation Index 2017 – Top 5:

Rank Country

1 Switzerland

2 Sweden

3 Netherlands

4 United States of America

5 United Kingdom

 

NATIONAL NEWS Affairs

 

  • Lok Sabha Speaker Sumitra Mahajan inaugurated the 16th North East Region Commonwealth Parliamentary Association (NERCPA) Conference at Imphal today.
    • The conference will deliberate on themes such as ‘North East and Look East Policy’, ‘Special plan for development of railways and airways for speedy economic development of North East region’, and ‘Setting up of a chapter of Speaker’s Research Initiative (SRI) in the region’.

 

  • The Ministry of Home Affairs has launched a Twitter handle called Bharat Ke Veer for a fund to help the families of paramilitary personnel martyred while fighting extremists.
    • Note : The app and website ‘Bharat Ke Veer’ was launched in April by the Home Minister with Bollywood actor Akshay Kumar.
  • Union Health Ministry launches Intensified Diarrhea Control Fortnight (IDCF) across country to reduce child deaths due to
    • Through this initiative, Ministry will mobilize health personnel, State govts and other stakeholders in controlling disease which one of the most common childhood illnesses.

 

  • Employees who got jobs using forged scheduled or backward caste certificates will be dismissed, the Centre has announced today.
    • All government departments have been asked to collect details about such appointments from organizations under them.
    • The move assumes significance as over 1,800 appointments, majorly in financial sectors, were allegedly secured through fake caste certificates, official data revealed.

 

MOUs & Agreements

 

  • India and South Korea today signed an agreement for$10 billion assistance for infrastructure development projects in India, including smart cities.
    • Note : With this agreement, South Korea has become one of the first non-G-7 countries to become an ODA contributor in India.
  • South Korea :

♦ Capital: Seoul

♦ Currency: South Korean won

  • The Public Sector Oil Marketing Companies, Indian Oil, Bharat Petroleum and Hindustan Petroleum today signed an agreement to jointly set up the world’s largest refinery and petrochemical complex in Ratnagiri district of Maharashtra.

 

Science & Technology

 

  • Asgardia, the first-ever country planned to be floated in space would be launching its maiden satellite in August, billionaire founder Igor Ashurbeyli announced today.
  • The satellite launch is aimed to test the concept of long-term data storage in space, off Earth limits.
  • People can sign up to become “Asgardians” and send their data into space, said Ashurbeyli.

 

  • China launched its first-ever X-ray space telescope, also its second space telescope, today to study the evolution of black holes.
  • The 2.5-tonne telescope was sent into an orbit of 550 km above Earth.
  • The telescope would also help scientists study how to use pulsars (fuel-exhausted rotating stars) for spacecraft navigation, and look for gamma-ray bursts corresponding to gravitational waves.

 

 

AWARDS & RECOGNITIONS

  • Israeli author David Grossmanhas won the Man Booker International Prize for his novel “A Horse Walks Into a Bar“.
  • With this, he has become the first Israeli author to win the Man Booker International Prize.
  • He will share the £50,000 ($64,000) award money with his translator Jessica Cohen.
  • Indian-American filmmaker Mira Nair won the Dorothy Arzner Directors Award for the film Queen of Katwe at this year’s Women In Film Crystal + Lucy Awards.
  • Elizabeth Banks won the Crystal Award for Excellence in Film and Tracee Ellis Rosswon the Lucy Award for Excellence in Television.

 

Banking, Business & Economic news

 

  • The Federal Reserve raised interest rates for the second time this year, citing continued economic growth.
  • The US central bank voted to raise its key rate target to a range of 1% to 1.25%, the highest level since 2008 financial crisis.
  • The bank further said it would begin cutting its bond holdings and other securities this year.
  • India has waived off a cumulative₹3.1 lakh crore ($49.1 billion) in farm loans till date, a report by data journalism firm India Spend has revealed.
  • The amount is 2.6% of the country’s GDP in 2016-17, or 16 times the amount sanctioned for rural roads in 2016-17.
  • However, waivers have had little to no impact on farmer suicides, the study revealed.
  • The government is contemplating daily revision of CNG prices similar to daily fuel price revision, which is going to be implemented across the country from June 16.
  • Currently, oil marketing firms fix the prices of diesel, petrol and CNG on a fortnightly basis.
  • According to the ‘One Family at a Time’ study conducted by the UN International Fund for Agricultural Development (IFAD), Indians working across the world had sent home USD 62.7 billion in 2016 making India the top remittance-receiving country surpassing China.
    • Top Remittance Receiving Countries :
      • India
      • China
      • Philippines
      • Pakistan
    • Top Remittance Sending Countries :
      • US
      • Saudi Arabia
      • Russia

 

New Appointments

 

  • Law expert Neeru Chadha has been elected to the International Tribunal for the Law of the Seas (ITLOS).
  • With this election, she has become the first Indian women to be appointed as a judge at the ITLOS.
  • TCS executive Ramanathan Ramanan to head Atal Mission under NITI Aayog
  • Under the Niti Aayog Ramanathan Ramanan has appointed as the Mission Director of the Atal Innovation Mission.

Key Notes:

  • Ramanan is presently working with the Tata Consultancy Services (TCS).
  • He has been appointed to the post “without pay and allowances” but with the provision of entitlement for government accommodation at New Delhi and all other official expenses including travel.
  • The Appointments Committee of the Cabinet has approved his appointment in the rank of Additional Secretary to Government of India.
  • He has been appointed on secondment basis from the TCS, initially for a period of two years, an order issued by the Department of Personnel and Training (DoPT) .

About Atal Innovation Mission

  • The Atal Innovation Mission is the Centre’s endeavour to promote a culture of innovation and entrepreneurship.
  • Its objective is to serve as a platform for promotion of world­class innovation hubs, startup businesses and other self­employment activities, particularly in technology driven areas.

 Current Sports Affairs

 

  • Yuvraj Singh has became the 5th Indian and the 19th overall to feature in 300 ODIs, after facing Bangladesh in the Champions Trophy semifinal today.
  • Yuvraj, who began his ODI career in the Champions Trophy in 2000, has scored over 8,500 runs and picked over 100 wickets in his 17-year-long ODI career.
14 Jun
IPCI Info

14 June

International News Affairs

  • Today (14th June) is World Blood Donor Day
    • This day  is celebrated every year on the day of birth anniversary of Austrian-American biologist and physician Karl Landsteiner (14th of June in 1868) who discovered the existence of different types of blood groups in 1901.
    • He was awarded the Nobel Prize in 1930 for his discovery.
    • This day is observed to raise the public awareness about the need for safe blood donation.
    • Theme of World Blood Donor Day 2017: “Give Blood. Give Now. Give Often”
    • Important Note: World Blood Donor Day is one of eight official global public health campaigns marked by the World Health Organization (WHO), along with
      • World Health Day,
      • World Tuberculosis Day,
      • World Immunization Week,
      • World Malaria Day,
      • World No Tobacco Day,
      • World Hepatitis Day and
      • World AIDS Day.
    • Pakistan has claimed that its ally China will fund its long-delayed ₹77-crore mega dam project over the Indus basin in Pakistan-occupied Kashmir.
      • India has opposed the construction of the dam ever since it was proposed. The dam aims to generate 4,500 MW of electricity and to regulate the water flow to farmlands that are vulnerable to increasingly erratic weather patterns.
    • Indian warships have reached Australia’s port city of Freemantle to take part in AUSINDEX, a week-long naval exercise off the Western Australian coast.
      • Exercise Australia-India (AUSINDEX) was first conducted off the East Coast of India in September 2015.
      • AUSINDEX-17 will be the second overall bilateral drill between Indian Navy and Royal Australian Navy.
      • AUSINDEX bilateral exercise aims to enhance interoperability and professional interaction between two navies.

Australia

♦ Capital: Canberra

♦ Currency: Australian Dollar

♦ PM: Malcolm Turnbull

 

National News Affairs

  • The Telangana government today launched the website ‘PashuBazar‘ to facilitate online sale or purchase of cattle.
    • The online platform has been developed to help farmers in selling their animals without physically taking them to weekly markets.
  • Recent Approvals by Central government –On June 14, 2017, Union Cabinet chaired by the Prime Minister Narendra Modi approved following bilateral agreements and initiatives:
  1. i) The Central Government will provide interest subvention of 5% per annum to all prompt payee farmers for short term crop loan up to one year for loan up to Rs. 3 lakhs borrowed by them during the year 2017­18.
  2. ii) Union Cabinet has given its ex­post facto approval to the Memorandum of Understanding (MoU) between Ministry of Agriculture & Farmers’ Welfare and the Ministry of Agriculture in the State of Palestine on agriculture cooperation.

iii) On June 14, 2017, Union Cabinet was apprised about an Memorandum of Understanding which has already been signed in April 2017, between India and Armenia for cooperation on youth matters.

  1. iv) Union Cabinet has approved the proposal to introduce a Financial Resolution and Deposit Insurance Bill, 2017. v. Cabinet was apprised about an Memorandum of Understanding (MoU) which has already been signed in April 2017, between India and Bangladesh for promoting cooperation in the field of Information Technology and Electronics (IT&E).
    • Ministry of Railways launches Mission Retro ­Fitment
      • Minister of Railways Suresh Prabhu has launched Mission Retro­Fitment to enhance the passenger experience by upgrading the existing fleet of coaches.
      • Key Notes:

i)Mission Retro­ Fitment is a program of railways to upgrade the level of furnishing & facilities in the coaches of Indian Railways.

  1. ii) It aimed at providing a safe and comfortable travel to the railway passengers.

iii) The refurbished coaches will have the following features will be World class ambiance, Enhanced Passenger Safety, Caring for the Environment, Enhanced Passenger convenience.

  1. iv) The mission will be carried out without affecting the traffic operation.

v)The mission will be one of the largest retro fitment projects in the world.

  1. vi) Under Mission Retro­ Fitment, 40,000 coaches will be refurbished and retrofitted in the next five years.

vii) The mission aims to induct about 40,000 coaches with upgraded interiors by 2022­23. viii. The cost of refurbishing per coach will be approximately Rs 30 lakhs.

 

 

Banking, Business & Economic News

  • The government today approved the Interest Subvention Scheme for 2017-18 under which it will give an interest subsidy of 2% per annum to farmers for short term loans of up to ₹3 lakh.
  • Technology giant Google has topped the 2017 BrandZ Top 100 Most Valuable Global Brands list, with a brand value of over $245 billion.
    • Further, US tech giants Apple, Microsoft, and Facebook were also among the five most valuable brands.
  • The Union Cabinet has approved the proposal to introduce a Financial Resolution and Deposit Insurance Bill, 2017 which will provide a comprehensive resolution framework for financial sector entities to deal with bankruptcy situation in banks, insurance companies, and other entities.
  • Telecom giant Verizon has acquired Yahoo’s core business for $4.48bn (£3.51m), thus ending Yahoo’s two-decade long run as an independent company.
    • Note : Verizon is the No.1 wireless operator in the US.

 

  • IDBI Bank only PSB to get ‘high’ rating for code compliance According to the Code Compliance
    • Rating of banks done by the Banking Codes and Standards Board of India (BCSBI) 2017, out of 26 public sector banks and 8 out of 17 private sector banks got ‘high’ rating for their adherence to code compliance.

Key Notes:

i)IDBI Bank was the only public sector bank that got ‘high (H)’(85   and above score out of 100) rating in two successive surveys.

  1. ii) The eight private sector banks that got ‘high’ rating are — Axis Bank, DCB Bank, HDFC Bank, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, RBL Bank and YES Bank.

iii) The three foreign banks — Citibank, HSBC and Standard Chartered Bank — that were surveyed got ‘high’ ranking.

  1. iv) The code compliance rating, which is based on five parameters: Information dissemination, transparency, grievance redressal, customer­ centricity, and customer feedback.
  2. v) A total of 51 banks were surveyed for code compliance in 2017 and in the latest round, five urban co­operative banks were included.
  3. vi) The survey is based on a sample size of 2.5 per cent of the branch network of 51 major banks.

vii)12 banks got ‘high’ rating in the survey, 29 got ‘above average (AA)’ rating (70 to less than 85 score) and 10 got ‘average (A)’ rating (60 to less than 70 score).

viii)The public sector banks, the ratings of which improved in the latest round, are: Central Bank of India, Corporation Bank, UCO Bank and Union Bank of India, with their rating going up to AA from A.

  1. ix) The public sector banks, the ratings of which came down a notch, are: Andhra Bank and Bank of Maharashtra (to A from AA).
  2. x) In the private sector banks category, while DCB Bank’s rating improved to ‘H’ from ‘AA’, Dhanlaxmi Bank’s rating declined to ‘AA’ from ‘H’.
  3. xi) BCSBI chairman: AC Mahajan

 

IDBI Bank :

♦ Headquarters: Mumbai

♦ CEO: Mahesh Kumar Jain

 

 

 

  • Emkay and DBS Ink Pact For Equity Research Distribution
    • Emkay Global Financial Services has entered into an exclusive pact with DBS Bank arm DBS Vickers Securities (Singapore) on 13 of June.

Key Notes:

  1. The pact has signed for co­-branding and distribution of equity research to the latter’s global clients.
  2. The agreement involves sharing of knowledge, co­branding of research and its distribution to the global clients of DBS Vickers.
  • The agreement involves Emkay and DBS Vickers to jointly organise, arrange and participate in events to showcase and market India Research Reports and India Equities.
  1. Emkay Global Managing Director is Krishna Kumar Karwa. v. The alliance will enable both DBS and Emkay to expand their horizon and benefit from each other’s knowledge and expertise.

DBS Bank :

♦ Headquarters: Singapore

♦ CEO: Piyush Gupta

 

 

Awards & Honors

  • IIT Kanpur is set to confer an honorary doctorate on former sprinter PT Usha on June 16 to mark the 50th convocation of the institute.

 

APPOINTMENTS & RESIGNS

  • India appoints Envoys to Italy, Denmark, Belgium and EU– The government has appointed ambassadors to three European countries, Italy, Denmark th and Belgium.
    • Key Points:

i.Gaitri Issar Kumar is a 1986­batch Indian Foreign Service (IFS) officer, has been appointed as India’s next ambassador to Belgium.

  1. According to the external affairs ministry she will also be accredited as India’s ambassador to the European Union (EU).

iii. Reenat Sandhu, a 1989­batch IFS officer, will head India’s diplomatic mission in Italy.

  1. Ajit Vinayak Gupte from the 1991 batch, who is presently joint secretary in the ministry, has been appointed as ambassador to Denmark.

Denmark:

♦ Capital: Copenhagen

♦ Currency: Danish krone

 

Science & Technology

  • The Defence Research and Development Organisation (DRDO) has successfully test fired anti-tank ‘Nag’ missile in Rajasthan.
    • This test was conducted by Scientists of the Dr. A.P.J. Abdul Kalam Missile Complex at Hyderabad, Defence Laboratory at Jodhpur, High Energy Materials Research Laboratory (HEMRL) at Pune and Armament Research and Development Establishment (ARDE) at Pune.
    • Important Points to Note :
      • Nag missile is one of the five missile systems developed by DRDO under the integrated guided missile development programme (IGMDP).
      • The four other missiles developed under this programme include Agni, Akash, Trishul and Prithvi.

 Current Sports Affairs

  • Pakistan defeated hosts England by 8 wickets to reach the final of the Champions Trophy tournament for the first time.
    • Note : Pakistan last played the final of an ICC ODI tournament 18 years ago, in the 1999 World Cup.