• Daily Current Affairs: 8th June, 2018

    Posted on by in Bank Exams, Current Affairs, News, Education & Training

    1. Business First Portal
      • The Punjab Government on June 7, 2018 launched a ‘Business First Portal’ to give a big push towards the ease of doing business in the state
      • Online portal would facilitate the industrialists for regulatory clearances and fiscal approvals and real-time tracking of applications on a common platform.
      • Key Features
        •  Punjab government launches Business First Portal
        • The portal aims to be a one-step solution for industrialists.
        • Regulatory clearances of all departments would be integrated in the portal.
        •  Further, it would provide self access facility to the traders for the first time.
        •  The facility would enable the applicants to examine their application and enclosed documents.
    2. World Oceans Day 2018
      • Celebrated across the world on 8th June, 2018.
      • It aims to highlight the major role of the oceans in everyday life.
      • The action focus for the 2018 World Oceans Day was ‘preventing plastic pollution and encouraging solutions for a healthy ocean’.
      • The agenda also coincided with the theme of 2018 World Environment Day –‘Beat Plastic Pollution’.
    3. Public Credit Registry
      • The Reserve Bank of India (RBI) announced to set up a Public Credit Registry, an information repository that has all loan information of individuals and corporate borrowers.
      • The repository will be set up in a modular and phased manner.
      • The move is based on the recommendations of a committee headed by Y.M. Deosthalee that was set up in 2017.
      • The task force recommended that the registry should be set up by RBI and in due course, the RBI may consider moving the registry to a separate non-profit entity.
      • The registry should also capture data such as external commercial borrowings, market borrowings, and all contingent liabilities.
      • The registry shall capture both positive and negative information for all loans and borrowers.
      • It will help banks to differentiate between a bad and a good borrower
      •  It will address issues of information asymmetry, improve access to credit and strengthen the credit culture among consumers.
      •  It will help in addressing the bad loans problem being faced in the banking system, as corporate borrowers will not be able to lend from multiple banks without disclosing their existing debt.
    4. Dam Rehabilitation & Improvement Project
      • EFC has extended timeline of Dam Rehabilitation & Improvement Project to 2020
      • DRIP is a state sector scheme with central component to improve safety and operational performance of selected dams, along with institutional strengthening with system wide management approach.
      • The project, with financial support from the World Bank
      • It aims to achieve rehabilitation of old dams in the country that may be experiencing distress and are in need of attention for ensuring their structural safety and operational efficiency.
      • Three main components
        • Rehabilitation of selected dams and their appurtenances
        •  Institutional Strengthening
        •  Project Management
    5. RBI amends Gold Monetisation Scheme
      • Amendment aims to enable people to open a gold deposit account hassle-free.
      • Short term deposits
        • From now onwards, the short-term deposits will be treated as bank’s on-balance sheet liability.
        • These deposits will be made with the designated banks for a short period of 1 to 3 years.
        • Deposits can also be allowed for broken periods such as for 1 year 3 months or for 2 years 4 months 5 days.
        •  The rate of interest payable in the case of deposits, for maturities with broken periods, will be calculated as the sum of interest for the completed year plus interest for the number of remaining days.
      • The duration and rate of interest on Medium and Long Term Government Deposits will be decided by Central Government and will be notified by Reserve Bank of India from time to time.
      • Medium and Long Term Government Deposits
        • The periodicity of interest payment on these deposits is annual and will be paid on March 31 every year.
        •  A depositor will have an option to receive payment of simple interest annually or cumulative interest at the time of maturity.
        • This option can be exercised at the time of deposit.
      • Handling charges
        • The designated banks will be paid handling charges such as charges for gold purity testing, refining, transportation, storage and any other relevant costs for Medium and Long Term Government Deposits at a flat rate of 1.5 percent and commission at the rate of 1 percent of the amount equivalent to the amount of gold mobilised under the scheme.
    6. Coast Guard interceptor ship
      • The Indian Coast Guard (ICG) commissioned an interceptor boat- ICGS C-439 at the Naval Dockyard in Mumbai, Maharashtra.
      • The Indian Coast Guard Ship (ICGS) C-439 was commissioned by Additional Director General K Natarajan, Coast Guard Commander of Western Seaboard.
      • Key Features of the boat
        • The ICGS C-439 is designed by the L&T Marine & Ship Design Division, an in-house facility of Larsen & Toubro Limited.
        • The vessel is 27.4 m long with a displacement of 136 tonnes. It can achieve a maximum speed of 45 knots.
        • It has full aluminium-alloy hull for reduced weight and is powered by twin water-jet propulsion systems to enable quick response.
        • It is fitted with state-of-the-art navigation and communication equipment and medium-range armament.
    7. Anupam Kher to receive IIFA Lifetime Achievement award 2018
      • Actor Anupam Kher will be given the prestigious Lifetime Achievement honour at the upcoming International Indian Film Academy (IIFA) awards ceremony in Bangkok for his contribution in the field of cinema.
      • Kher will be presented with the honour on June 24 at the 19th edition of IIFA.
      • The International Indian Film Academy Awards (IIFA Awards) are a set of awards presented annually by the International Indian Film Academy to honour both artistic and technical excellence of professionals in Bollywood.
    8. Centre intend to make changes in SEZ policy.
      • A group headed by Industrialist ‘Baba Kalyani’ (Bharat Forge Chairman) to study the Special Economic Zones (SEZ) Policy of India was constituted by centre.
      • The group will evaluate the SEZ policy, suggest measures to cater to the needs of exporters in the present economic scenario and make the SEZ policy WTO compatible.
      • An SEZ is an area with economic regulations different from other areas of the same country and are generally export hubs.
      • Companies operating in SEZs receive tax benefits and an opportunity to pay lower tariffs.
    9. National Consultation on Accelerating Implementation of Tobacco Control Measures
      • Minister of State for Health has inaugurated the National Consultation on Accelerating Implementation of Tobacco Control Measures for the achievement of Goals under National Health Policy, 2017.
      • The two-day consultation will focus on capacity-building of the National Tobacco Control Progamme Nodal Officers.
      • The Ministers also released the Global Adult Tobacco Survey -2 India Report, 2016-17 and guidelines for establishing tobacco cessation centres in dental colleges.
    10. Bhagat Singh’s jail diary book
      • Union Minister of IT and Law Ravi Shakar Prasad has released Bhagat Singh’s jail diary book at a function in New Delhi.
      • The jail diary book is a compilation of Bhagat Singh’s writings.
      • Bhagat Singh had written (own handwriting) the diary during September 12, 1929, to March 22, 1931.
      • After the martyrdom of Bhagat Singh (March 23, 1931) the diary was handed over to Kultar Singh.
    11. The 22nd edition of Exercise Malabar 2018
      • Exercise Malabar, which started as a bilateral exercise between the US Navy and the Indian Navy in 1992, has evolved over the years with the participation of the Japanese Maritime Self-Defense Force (JMSDF) from 2007.
      • It is for the first time that the exercise is being conducted off Guam, a major US Naval Base in the Western Pacific.
      • The US has recently named their Hawaii-based Pacific Command as the U.S. Indo-Pacific Command.
    12. Global Peace Index 2018
      • According to a report by an Australian think tank, India has moved up four places to the 137th rank among 163 countries
      • Iceland remains the most peaceful country in the world, a position it has held since 2008. New Zealand, Austria, Portugal and Denmark also sit in the top five most peaceful rankings.
      • Syria remains the least peaceful country in the world, a position it has held for the past five years.
    13. Three Indian cities among top 10 for GDP risk from terrorism
      • Delhi, Mumbai and Bangalore stood at fifth, sixth and seventh in this aspect, in the latest edition of Lloyd’s India’s City Risk Index (CRI).
    14. ‘Queen Pineapple’ as State Fruit of Tripura
      • The President of India, Shri Ram Nath Kovind formally declared the “Queen Pineapple” as the state fruit of Tripura.
    15. Andhra Pradesh, Singapore sign pacts for Amaravati development
      • Under the agreement, the land would be handed over in three phases – 660 acres in the first phase – to the Singapore companies for infrastructure development and other promotional activities.
    16. World Bank forecasts 7.3 per cent growth for India
      • The World Bank has forecast a growth rate of 7.3 per cent for India this year and 7.5 per cent for the next two years, making it the fastest growing country among major emerging economies.
    17. Mithali Raj becomes first Indian to score 2,000 T20I runs
      • Mithali achieved the landmark after scoring a knock of 23 during India’s seven-wicket win over Sri Lanka in the Women’s Asia Cup T20.
      • She now has 2,015 runs in 75 matches. Mithali is the seventh woman to reach 2,000 runs.
    18. IBSA Ministerial Meet held in South Africa
      • A meeting between external affairs ministers of India, Brazil and South Africa has been organized in Pretoria, South Africa.
      • The ministerial summit chaired by India’s External Affairs Minister Sushma Swaraj was attended by South African Minister of International Affairs and Cooperation Lindiwe Sisulu and the Brazilian Deputy Minister of Foreign Affairs Marcos Bezerra Abbott Galvao.
    19. ‘National Gopal Ratna’ award
      • Dhiraj Ram Krishna won the ‘National Gopal Ratna’ award from the Central Govt for cattle rearing and dairying.
      • He received the award from the Union Minister of Agriculture and Farmers’ Welfare Radha Mohan Singh in New Delhi for ‘upkeep of the best dairy animals of indigenous breeds’.
    20. IIT Bombay Displaces IIT Delhi As Best-Ranked Indian University
      • Indian Institute of Technology, Bombay (IIT-B), Indian Institute of Science (IISc), Bangalore, and Indian Institute of Technology, Delhi (IIT-D) are in the top 200 in QS World University Rankings 2019.
      • The number of Indian universities in the top 1,000 increased from 20 to 24
      • The 15th edition of the QS World University Rankings, released by global higher education analysts QS Quacquarelli Symonds and considered one of the most authoritative and prestigious rankings in the world sees six of India’s eight top-ranked IITs/IISCs improving their rank, with two remaining stable year-on-year.
    21. The Global Peace Index 2018
      • India fetched 136th rank among 163 countries on the 2018 Global Peace Index that was released on June 7, 2018 by the Institute of Economics and Peace (IEP), an Australian think tank.
      • While, Iceland managed to retain its position as the most peaceful country in the world.
      • India’s GPI rank was 137th out of 163 countries in 2017, when the year 2016 was assessed. In 2018, India’s rank moved up to 136, when the year 2017 is assessed.
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