Weekly Current Affairs June 13- June 18

Weekly Current Affairs: June 13- June 18

Important Days.

World Day Against Child Labour: 12 June

§  The International Labour Organization (ILO) launched the World Day Against Child Labour in 2002 to focus attention on the global extent of child labour and the action and efforts needed to eliminate it. 

§  Each year on 12 June, the World Day brings together governments, employers and workers organizations, civil society, as well as millions of people from around the world to highlight the plight of child labourers and what can be done to help them.

§  Theme 2017: "In conflicts and disasters, protect children from child labour"

World Blood Donor Day: 14 June 2017

§  World Blood Donor Day is celebrated every year by the people in many countries around the world on 14th of June. 

§  World Blood Donor Day is celebrated every year on the day of birthday anniversary of Karl Landsteiner on 14th of June in 1868. 

§  This event celebration was first started in the year 2004 aiming to raise the public awareness about the need for safe blood donation (including its products) voluntarily and unpaid by the healthy person. 

§  Blood donors are the key role player at this day as they donate life-saving gifts of blood to the needed person.

International Day of Family Remittances: 16 June 2017

§  The International Day of Family Remittances (IDFR), celebrated on 16 June, is aimed at recognizing the significant financial contribution migrant workers make to the wellbeing of their families back home and to the sustainable development of their countries of origin.

§  It is also aimed at encouraging the public and private sectors, as well as the civil society, to do more and collaborate to maximize the impact of these funds in the developing world.

§  The first IDFR was celebrated on 16 June 2015 by more than 400 policy-makers, private sector representatives and civil society leaders at the opening of the Fifth Global Forum on Remittances and Development in Milan.

§  Patron of the first IDFR was Her Excellency Queen Máxima of the Netherlands in her capacity as United Nations Secretary-General's Special Advocate for Inclusive Finance for Development (UNSGSA).

World Day to Combat Desertification and Drought: 17 June 2017

§  The World Day to Combat Desertification and Drought is observed every year to promote public awareness of international efforts to combat desertification. 

§  The day is a unique moment to remind everyone that land degradation neutrality is achievable through problem-solving, strong community involvement and co-operation at all levels

§  This year the World Day to Combat Desertification and Drought examine the important link between land degradation and migration. 

§  Among others, environmental degradation, food insecurity and poverty are causes of migration and development challenges. 

International Day for the Elimination of Sexual Violence in Conflict: 19 June

§  On 19 June 2015, the United Nations General Assembly (A/RES/69/293) proclaimed 19 June of each year the International Day for the Elimination of Sexual Violence in Conflict, in order to raise awareness of the need to put an end to conflict-related sexual violence, to honour the victims and survivors of sexual violence around the world and to pay tribute to all those who have courageously devoted their lives to and lost their lives in standing up for the eradication of these crimes.

§  The date was chosen to commemorate the adoption on 19 June 2008 of Security Council resolution 1820 (2008), in which the Council condemned sexual violence as a tactic of war and an impediment to peacebuilding.

§  2017 Theme: “Preventing Sexual Violence Crimes through Justice and Deterrence”

§  A panel discussion to commemorate the second annual International Day for the Elimination of Sexual Violence in Conflict will be held at United Nations Headquarters in New York

National Events.

Arunachal wants separate time zone to improve efficiency, work hours

§  Arunachal Pradesh Chief Minister Pema Khandu reiterated northeastern states’ decades old demand for a separate time zone. 

§  Leaders from the region argue that a separate time zone would increase daylight savings and efficiency.

§  One of the arguments that the states advance is that the early sunrise means that by the time they start their day, almost half the day has passed. 

§  This means an early sunset which requires extra use of lights in both homes, offices and public places.

§  The longitudinal difference between India’s easternmost point Kibithu in Arunachal Pradesh and the westernmost point int Gugariyana, Gujarat is is almost 30 degrees — a time difference of two hours.

Meghalaya passes resolution opposing Centre's notification on cattle sale

§  The Meghalaya assembly unanimously passed a resolution opposing the Centre's notification banning the sale and purchase of cattle at animal markets for slaughter 

§  The Ministry of Environment, Forest and Climate Change had issued the Prevention of Cruelty to Animals (Regulation of Livestock Markets) Rules, 2017 on May 23.

§  Sangma told the House that to balance the demand and supply of beef, the government had put in place the Meghalaya State Livestock Mission for 2017-2022 to augment the livestock production.

§  The prohibition on the sale and purchase of cattle at animal markets for the purpose of slaughter would affect the livelihood of over 5.7 lakh (79%) households, which were currently involved in cattle-rearing

Government launches Tele-Law initiative

§  With an aim to make legal aid easily accessible to the marginalised communities and citizens living in rural areas, the government has launched the ‘Tele-Law’ initiative of the Ministry of Law and Justice partnered with the Ministry of Electronics and Information Technology

§  It anchors the Digital India programme, to provide legal aid services through its Common Service Centres (CSC) at the panchayat level, spread across the country.

§  Under the scheme, a portal called ‘Tele-Law’ will be launched, which will be available across the CSC network. This will connect the citizens to legal service providers with the help of technology-enabled platforms.

§  ‘Tele-Law’ will enable people to seek legal advice from lawyers through video conferencing available at the CSC. 

Borrow a human for 30 minutes at Delhi's first Human Library

§  The concept of ‘Human Library’ is about to make its way to Delhi on June 18 which will allow readers to borrow real people and learn from their life experiences over a 30-minute meaningful conversation. 

§  This unique concept allows you to borrow a ‘human book’, ask any number of questions to that would help dispel misconceptions, provide more information and provide participants with better knowledge of a subject or idea.

§  Anybody can be a book, as long as they have interesting experiences and stories to share.

§  Delhi will be the fourth city to host the human library community in India after Indore, Hyderabad and Mumbai.The first Human Library event in India was held at Indore in 2016 at the IIM Indore campus.

India's first canal top solar PV system at NTPC Mouda

§  State-run power giant NTPC has energised 150 kWp canal top solar PV System on cooling water (CW) channel inside power station premises at its 2,320 MW, Mouda Thermal Power Project, near Nagpur in Maharashtra. 

§  This novel Solar PV system makes use of side walls of CW channels as load bearing structure thereby significantly decreasing cost of civil and mounting structure,

§  It also has several other unique advantages such as land and water conservation due to reduced evaporation, increased PV generation due to cooling and reduction in dirt, leaves thereby reducing chemicals for water reatment

MHA panel to study rules on people's movement along India-Myanmar border

§  The Centre set up an expert committee to examine the rules which allow free movement of Indian and Myanmarese citizens within 16 kms of the border, but are exploited by militants for smuggling arms, drugs, and fake Indian currency.

§  The decision was taken at a meeting of chief ministers of the northeastern states which share a porous border with Myanmar.

§  Home Minister Rajnath Singh decided to constitute the committee, headed by the special secretary (Internal Security) in the Ministry of Home Affairs, which will examine the rules and regulations adopted by the border states for free movement of the people, an official release said.

§  The committee will give its report for uniform and effective implementation of free movement regime within three months, it said.

§  India's 1,643-km border with Myanmar touches four states: Arunachal Pradesh, Nagaland, Manipur and Mizoram.

Railways to induct 40,000 refurbished coaches

§  The Indian Railways is planning to induct about 40,000 coaches with improved interiors and upgraded facilities at an estimated cost of Rs 8,000 crore to provide world-class comfort to passengers. 

§  According to the plan, coaches will be retrofitted with refurbished interiors, improved seating arrangement and newly designed bio-toilets among other facilities. 

§  The retrofitting would cost about Rs 30 lakh per coach. 

§  The target is to complete the process of refurbishing of coaches with improved interiors and 2023 in the next five years. 

§  Railways is also focusing on the safety front by equipping all conventional coaches with centre buffler couplers (CBC), a strong coupler system. 

§  The CBC system prevents coaches from capsizing. 

Telangana government launches website for online sale of cattle

§  Farmers in the state will be able to sell and purchase cattle online. 

§  The state government on Monday launched a website to facilitate this service.

§  The online sale or purchase of cattle through pashubazar.telangana.gov.in website will help farmers as the cattle need not be brought to shandies every time and farmers can save on transportation cost on cattle.

§  Animal Husbandry assistant director V Jagannatha Chary said the website was intended for sale or purchase of cattle among farmers. 

§  He said that the new cattle rules issued by the Central government were under study and the rules would be applicable to online sale too.

§  Farmer can keep maximum five registrations for sale at any time.

Anuyatra campaign launched in Thiruvananthapuram

§  A group of differently-abled children who received special training in magic, have become brand ambassadors of Anuyatra, a campaign of the state government for persons with special needs, which was launched by Vice-President Hamid Ansari

§  The innovative initiative is aimed at transforming the state to a disabled-friendly one and empower differently-abled children by bringing them to the forefront of the mainstream society. 

§  The MPower programme managed by the Kerala Social Security Mission (KSSM) under the social justice department is being implemented in collaboration with the Magic Academy.

With 2.5 lakh Child labourers, Uttar Pradesh ranks first

§  Over 8 lakh children in India between the age group 5 and 6 years are engaged in child labour. A large percentage, over 5 lakh of these children do not attend school. 

§  Majority of these kids are engaged in family based employments, states a CRY report.

§  According to the report, Uttar Pradesh has the highest number of 2,50,672 children engaged in labour, followed by Bihar with 1,28,087 children and Maharashtra where the number stands at 82,847.

Cabinet approves proposal to introduce the Financial Resolution and Deposit Insurance Bill 2017

§  The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the proposal to introduce a Financial Resolution and Deposit Insurance Bill, 2017. 

§  The Bill would provide for a comprehensive resolution framework for specified financial sector entities to deal with bankruptcy situation in banks, insurance companies and financial sector entities.

§  The Financial Resolution and Deposit Insurance, Bill 2017 when enacted, will pave the way for setting up of the Resolution Corporation. 

§  It would lead to repeal or amendment of resolution-related provisions in sectoral Acts as listed in Schedules of the Bill. 

§  It will also result in the repealing of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 to transfer the deposit insurance powers and responsibilities to the Resolution Corporation.

§   

CSO to change GDP base year to 2017-18 from 2011-12

§  The Statistics Ministry is set to change the base year of national accounts to 2017-18 from 2011-12 after completion of the household consumer expenditure survey and labour force data by the end of 2018.

§  The new labour force survey and household consumer expenditure survey will be available by 2018.

§  Earlier in 2015, the Central Statistics Office (CSO) under the Statistics Ministry had changed the base year for tabulating the Gross Domestic Product or size of economy to 2011-12 from 2004-05.

§  Last month, the CSO has changed the base of Index of Industrial Production (IIP), which measures factory output, to 2011-12 from 2004-05. Besides, the base year of Wholesale Price Index (WPI) has also been changed to 2011-12 from 2004-05.

§  In 2017—18, NSSO will undertake surveys on household consumer expenditure and household consumer expenditure on education and health

India to be Co-Partner Country in ANUGA 2017

§  Minister of Food Processing Industries Smt Harsimrat Kaur Badal has signed the Memorandum of Understanding for Participation in the ANUGA Exhibition with Ms Katharina C Hamma, Chief Operating Officer, Koelnmesse GmBH (Organizers of ANUGA).

§  Government has started nine Mega Food Parks; strengthening cold chain infrastructure; implementing Kisan-SAMPADA scheme with allocation of Rs 6000 crore; creation of corpus of Rs. 2000 Crore with NABARD for priority lending to the food processing industries; rationalising taxes; allowing 100% FDI in retail market for Food sector, etc. 

§  These steps will help the Government in achieving its vision of making India a Global Food Factory rather than being a market place only. “Brand India will be standing parallel with Brand ANUGA in Cologne, Germany”

§  ANUGA - an acronym for Allgemeine Nahrungs Und Genußmittel Ausstellung ( General Food and Non essential Provisions Exhibition) is the world’s biggest and most important trade fair for Food and beverage trade. It takes place biennially (every 2 years). ANUGA 2017 is the 34th edition.

§  ANUGA offers an extensive supporting programme with Lectures, Special exhibition and attractive industry events

§  ANUGA is the leading export platform with 7,189 exhibitors from 109 countries with over 85% of Exhibitors from abroad.

§  1,60,000 decision makers from the retail and out-of-home market from 192 countries visited during last ANUGA. 66% of the industry visitors are foreigners

India ratifies key global conventions to combat child labour

§  India ratified on Tuesday two fundamental global conventions on combating child labour which a top ILO official described as a “positive step” on the country’s path towards full respect for fundamental rights at work.

§  The Indian government deposited with the International Labour Office (ILO) the instruments of ratification of the two fundamental ILO Conventions concerning the elimination of child labour -- the Minimum Age Convention, 1973 (No 138) and the Worst Forms of Child Labour Convention, 1999 (No. 182).

§  India is the 170th ILO member state to ratify Convention No 138, which requires states party to set a minimum age under which no one shall be admitted to employment or work in any occupation, except for light work and artistic performances.

Centre extends interest subsidy on farm loans

§  Farmers will continue to get short-term farm loans up to Rs. 3 lakh at an interest rate of 4 per cent as the Union Cabinet on Wednesday approved an interest subvention scheme and earmarked a sum of Rs. 20,339 crore for it.

§  Under the scheme, which has been in place since 2006, the Centre will provide an interest subvention of 5 per cent per annum to those farmers who repay the short-term crop loan up to one year for a maximum of Rs.3 lakh. 

§  The interest subsidy, however, would be only 2 per cent for farmers who do not repay on time, it said.

§  The scheme, however, would not give any additional succour to farmers who are in distress as it is just a continuation of an existing scheme. 

§  This scheme comes at a time when farmers in many States are clamouring for farm loan waiver

§  Interest subvention scheme will continue for a year and will be implemented jointly by Nabard and the RBI. The interest subvention will be given to public sector banks (PSBs), private sector banks, cooperative banks and regional rural banks (RRBs) on use of own funds and to Nabard for refinance to RRBs and cooperative banks,

§  Small and marginal farmers who borrow at 9 per cent for the post harvest storage of their produce will get an interest subvention of 2 per cent, bringing down the interest burden to 7 per cent per annum,

Health Ministry launches Intensified Diarrhoea Control Fortnight (IDCF)

§  The Ministry of Health and Family Welfare has launched the Intensified Diarrhea Control Fortnight (IDCF) in order to intensify efforts to reduce child deaths due to diarrhoea. 

§  The Ministry has made it a national priority to bring health outcomes among children to a level equitable with the rest of the world. 

§  Through this initiative, the Ministry will mobilize health personnel, State Governments and other stakeholders to prioritize investment in control of diarrhea, one of the most common childhood illnesses.

§  It aims to create mass awareness about the most effective and low-cost diarrhoea treatment— a combination of Oral Rehydration Salt (ORS) solution and Zinc tablets. 

§  During the fortnight, intensified community awareness campaigns on hygiene and promotion of ORS and Zinc therapy will be conducted at state, district and village levels. 

§  Narly 12 crore under 5-children will be covered during the program across the country.

§  Increased access to immunization and child healthcare services during this period have greatly contributed to this decline. Yet, an estimated 1.1 million children die each year in India, including approximately 1.1 lakh deaths due to diarrhoea. 

Haryana's open defecation-free village to be named after Donald Trump

§  Sulabh International founder and chief Bindeshwar Pathak has announced that an open defecation-free (ODF) village in Mewat will be named after the US President Donald Trump.

§  Sulabh believes the move will help draw the attention of the world towards India's cleanliness campaign. 

§  The organisation is currently working in some villages of Mewat to make them ODF, one of which will be named after Trump

India top remittance-receiving country in 2016

§  Indians working across the globe sent home USD 62.7 billion last year, making India the top remittance-receiving country surpassing China, according to a UN report.

§  The ‘One Family at a Time’ study by the UN International Fund for Agricultural Development (IFAD) said about 200 million migrants globally sent more than $445 million in 2016 as remittances to their families, helping to lift millions out of poverty.

§  80 per cent of remittances are received by 23 countries, led by India, China, the Philippines, Mexico and Pakistan.

§  The top 10 sending countries account for almost half of annual flows, led by the US, Saudi Arabia and Russia.

§  The study said India was the top receiving country for remittances in 2016 at $62.7 billion, followed by China ($61 billion), the Philippines ($30 billion) and Pakistan ($20 billion).

India ranks 75th on environment impact survey

§  India came in 75th in a list of 102 countries ranked from best to last in terms of the human impact on environment per person.

§  It gauges the impact of citizens on the environment by taking into account the share of renewable energy sources in the energy mix, the energy consumption per capita, the carbon dioxide emissions per capita, wastewater treatment capacity, municipal solid waste generated, air pollution and tree cover loss.

§  The ranking was done by MoneySuperMarket, a UK-based financial services website, gave the most weight to Carbon dioxide emissions, municipal solid waste and energy consumption.

§  With its reliance on clean energy sources even lower than India at 12.56%, the U.S. was placed second last on the list at the 101 position.

§  Trinidad and Tobago ranks last because it hardly relies on any green energy sources. Mozambique tops the list as the most green nation because it uses 100% green energy.

Goa Marathi Film Festival raises curtain on 10th edition

§  The 10th edition of the Marathi Film Festival was inaugurated in Panaji

§  Marathi actor Sai Tamhankar will be awarded the 'Face of the Year' award while veteran actor Sachin Pilgaonkar will be honoured with the 'Krutadnyata award'. 

§  Nagesh Bhosle's Sanchar, and Girish Joshi's Take Care, Good Night will premiere at the festival. Marathi films like Ventilator, Muramba, Oli ki Suki, Chi va Chi Sau Ka, Disha, Kasav will be screened over next three days. Mahesh Manjrekar's F.U. will also have two shows during the festival.

Lok Sabha Speaker to inaugurate NERCPA conference in Imphal

§  Lok Sabha Speaker Sumitra Mahajan will inaugurate the 16th North East Region Commonwealth Parliamentary Association (NERCPA) Conference 

§  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'.

§  It will be held at the assembly premises here till June 18.

§  The SRI has conducted several meetings and workshops with stakeholders in democracy and eminent domain experts for members of Parliament during sessions, specifically on subjects listed before Parliament.

ClearTax launches free GST bill book software

§  To help small and medium businesses (SMEs) in the country get GST-ready, ClearTax, has launched a Bill book software. 

§  ClearTax's GST Bill Book is a free software platform for preparing GST-compliant invoices. With this platform for small businesses in India, ClearTax plans to reach out to about 10 lakh SMEs across the country.

§  The Bill book is a ready-to-use software platform that works both online and offline

§  The GSTbillbook will automatically identify IGST vs SGST in the invoice. GST Bill book will help in curbing the tedious task of uploading to GSTN every month

§  The GST bill book supports features such as creating a sales invoice, recording of discount, freight, insurance, & package handling charges. 

§  In addition to creating sales bills, it can be used to record purchases and expenses under GST regime. It will also support other documents mandated by GST such as delivery challan, e-way bill, advance payment receipts etc.

§  ClearTax was founded by Archit Gupta along with his father Raja Ram Gupta, Srivatsan Chari, and Ankit Solanki. ClearTax is Y-Combinator's first India focused investment. 

India to host AIIB's 3rd annual meeting in 2018

§  India will host the third annual meeting of the China-initiated Asian Infrastructure Investment Bank (AIIB) in 2018

§  he third annual meeting of the AIIB's board of governors will be held in Mumbai, India, in June 2018. India is AIIB's second-largest shareholder,

§  Indian Finance Minister Arun Jaitley noted that his country would be honoured to become the host country for the third AIIB annual meeting.

§  The first annual meeting was held in Beijing last year. The second meeting, which would last for two days was launched in South Korea's southern resort island of Jeju.

§  Officially launched in January 2016, the Beijing-based AIIB is a multilateral development bank initiated by China and supported by a wide range of countries and regions, which will provide financing for infrastructure improvement in Asia.

Current account deficit narrows in 2016-17: RBI

§  India’s current account deficit (CAD) narrowed during last fiscal due to a contraction in the country’s trade deficit.

§  According to data furnished by the Reserve Bank of India (RBI), the CAD for last fiscal narrowed to 0.7 per cent of the GDP from 1.1 per cent in 2015-16 on the back of the contraction in trade deficit.

§  India’s trade deficit during the fiscal under review narrowed to $112.4 billion in 2016-17 from $130.1 billion in 2015-16.

PM dedicates first phase of Kochi Metro to nation

§  Prime Minister Narendra Modi on Saturday dedicated the first phase of Kochi Metro to the nation.

§  Kochi, the Queen of the Arabian Sea, was once an important spice trading centre. Today it was known as commercial capital of Kerala, the prime minister said.

§  Kochi Metro Rail Limited (KMRL) is a 50-50 joint venture of the Centre and the state government.

§  The Centre has so far released over Rs 2,000 crore for the project. The coaches reflected 'Make in India' vision.

§  They have been built by Alstom near Chennai and have an Indian component of around 70 per cent

§  Union Urban Development Minister M Venkaiah Naidu, Kerala Governor P Sathasivam, Chief Minister Pinarayi Vijayan, Leader of Opposition in Kerala Assembly Ramesh Chennithala, Ernakulam MP K V Thomas, Kochi Mayor Soumini Jain and 'Metro Man' E Sreedharan were among those present at the inaugural function.

IBBI notifies fast track Insolvency Resolution Process for Corporate Persons Regulations

§  The Insolvency and Bankruptcy Board of India (IBBI)  notified the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017.

§  The board announced the regulations in exercise of its powers conferred by sections 58, 196 and 208 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (Code),

§  These regulations provide the process from initiation of insolvency resolution of eligible corporate debtors till its conclusion with approval of the resolution plan by the Adjudicating Authority.

§  The process in these cases shall be completed within a period of 90 days, as against 180 days in other cases. However, the Adjudicating Authority may, if satisfied, extend the period of 90 days by a further period up to 45 days for completion of the process.

Mahatma Gandhi's Sabarmati Ashram Celebrates 100 Years

§  Sabarmati Ashram, which served as epicentre of the country's freedom struggle during Mahatma Gandhi stay there, will celebrate its centenary in presence of his grandson and former West Bengal Governor Gopalkrishna Gandhi.

§  Mahatma Gandhi lived in the ashram, situated on the banks of Sabarmati river in Ahmedabad along with his wife Kasturba from 1917 and 1930.

§  The Ashram trust has planned several programmes, including opening of two permanent galleries at the Ashram, tree plantation and release of two books on Mahatma Gandhi, to mark the event.

§  As per the schedule posted on the Ashram's website, Gopalkrishna Gandhi inaugurated two galleries titled 'My Life is My Message' and 'Charkha.' 

§  He also released two books titled 'Letters to Gandhi' and 'Pioneers of Satyagraha.'

International Events.

China launches world's largest floating solar farm

§  World's largest floating solar farm is launched in China's central Anhui province

§  The impressive array, which consists of 160,000 panels, is buoyant upon a lake that emerged after the collapse of a coal mine. 

§  It's an appropriate symbol for China's changing energy policies; the nation is projected to get 20 percent of its power consumption from low-emission energy, including nuclear, by 2030.

§  It also comes at an ominous time, after the U.S. withdrawal from the Paris climate agreement. 

§  China already leads the world in clean energy investment, and now it has the chance to take up the top leadership position in the fight against climate change. 

§  At least, it's an opportunity that China has been given an open door to seize.

Shah Rukh Khan, Salman Khan, Akshay Kumar Make It to Forbes World's Highest-Paid Celebrities List

§  Bollywood actors Shah Rukh Khan, Salman Khan and Akshay Kumar are among the ‘World’s Highest-Paid Celebrities’ list, according to Forbes magazine.

§  In the list which was released by Forbes magazine on Monday, Bollywood superstar Shah Rukh, the top-ranked Indian, has bagged the 65th position with his earnings of $38 million.

§  Salman Khan made it to the 71st position with earnings of $37 million, Akshay (had 3 releases Airlift, Rustom, Housefull 3) was on rank 80, with earnings of $35.5 million.

§  American rapper, singer and songwriter Sean Combs leads the Forbes list

Two persons of India origin in Queen Elizabeth’s Birthday Honours list

§  Two Indian-origin men are among 900 Australians who have been recognised by British Queen Elizabeth II in her annual Birthday Honours list for their contributions to the community. 

§  The Queensland-based Professor Rajiv Khanna was honoured with Order of the Companion of Australia for distinguished service to medicine in the field of immunology, through contributions to the development of cellular immunotherapies for the treatment of cancer, infectious complications and chronic diseases.

§  Unnikrishnan Velayudhan Pilla from Queensland was awarded the medal of the Order of Australia in the general division (OAM) for service to the Malayalee community in the state. 

§  The list for this year released yesterday recognised a diverse range of people including scientists, entertainers, lawyers, designers, community workers, performers and a psephologist.

G7 Environment Ministers met over Paris pact

§  G7 Environment Ministers geared up for a gathering in the Italian city of Bologna where they face the challenges of defending and implementing the Paris climate accord following withdrawal from the pact by the US. 

§  The two-day Environment Ministerial Meeting of the G7 sew participants from the seven nations seeking to clarify what US President Donald Trump intended to do in order to curb climate change, in light of his decision. 

§  The G7 meeting would be important as the US would have to clarify its position on the matter,

Google ranked as the world's most valuable brand in 2017

§  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. 

§  Notably, Amazon rose three places after achieving the highest dollar value growth, increasing by $40.3 billion to $139.3 billion.

Panama breaks off from Taiwan, ties up with China

§  In a major blow to Taiwan, Panama today broke off diplomatic ties with it and established relations with China as cash-rich Beijing exerted its economic clout to wean away handful of allies of Taipei. 

§  Regarded as a diplomatic coup for Beijing, China and Panama signed a joint communique here formally establishing diplomatic relations.

§  Chinese Foreign Minister Wang Yi held a meeting with Isabel Saint Malo de Alvarado, Panama's vice president and foreign minister, signed the joint communique in which Panama has recognised One China, meaning that Taiwan is part of the Chinese mainland. 

AUSINDEX-17: India, Australia to Participate in Joint Maritime Exercise

§  Navies of India and Australia will participate in bilateral maritime exercise AUSINDEX-17 this week with an aim to enhancing interoperability and cooperation between the two forces.

§  Indian naval ships Jyoti, Shivalik and Kamorta are on a port visit to Freemantle, Australia from June 13 to 17 and will join the exercise

§  In pursuance of India's 'Act East' policy, the ships under the command of Flag Officer Commanding Eastern Fleet Rear Admiral Biswajit Dasgupta are on an overseas deployment to the South East Asia and southern Indian Ocean regions.

§  INS Shivalik, a muIti-role stealth frigate, INS Kamorta, an anti-submarine warfare corvette, and INS Jyoti, the fleet replenishment tanker, are a part of this venture.

MoS External Affairs VK Singh to attend BRICS Foreign Ministers meet

§  Minister of State for External Affairs Gen VK Singh will attend the two-day BRICS Foreign Ministers Meet beginning in Beijing on June 18.

§  Chinese Foreign Minister Wang Yi will chair the meet, Chinese Foreign Ministry spokesperson Lu Kang

§  Russian Foreign Minister Sergey Lavrov, South African Foreign Minister Maite Nkoana-Mashabane, and Brazilian Foreign Minister Aloysio Nunes will be present at the meeting.

Government imposes anti-dumping duty on Chinese ceramic items

§  India has imposed anti-dumping duty on import of ceramic table and kitchenware items from China to protect domestic industry against goods being sold at below normal value. 

§  The anti-dumping duty of $1.04 per kg will be imposed on import of ceramic tableware and kitchenware, excluding knives and toilet items from China

§  The anti-dumping duty imposed shall be levied for a period not exceeding six months 

§  The anti-dumping duty on import of plain gypsum plaster boards was first imposed in 2013 and the DGAD has recommended extension of the same. 

§  The same will now "remain in force up to and inclusive of the June 6, 2018" 

India moves up six places to 60th on Global Innovation Index

§  India has moved up six places to 60th among 130 nations on the Global Innovation Index (GII) 2017, emerging as the top-ranked economy in Central and South Asia.

§  The improvement in India's rankings come after five continuous years of slide even as Switzerland, Sweden, the Netherlands, the US and UK retained their top spots as the most-innovative countries.

§  The index, co-authored by Cornell University, INSEAD and World Intellectual Property Organisation shows India's rise as an emerging innovation centre in Asia

§  Among India's neighbours, Sri Lanka took the 90th spot whereas Nepal was at 109th. Pakistan came in at 113 followed by Bangladesh at 114.

AIIB commits $150 million for India infrastructure fund

§  The China and India-backed Asian Infrastructure Investment Bank (AIIB) announced its first equity investment, a $150 million commitment to a fund aimed at pushing infrastructure projects in India.

§  Its first equity investment of US$150 million will help to attract much needed private investment capital for infrastructure projects in India".

§  The $150 million investment will support an infrastructure fund that the bank says "aims to invest in mid-cap infrastructure companies in India, and to expand the Bank's equity and loan deal sourcing pipelines in the private sector through its equity participation in this Fund". 

§  The idea is to boost private capital inflows from global long-term investors, such as public pension funds, endowments and insurance companies.

§  China is the $100 billion bank's biggest shareholder with around 30 per cent of stock, with India the second-biggest with around 8 per cent.

India, South Korea agree to more investments, fight protectionism

§  India and Korea on Wednesday decided to stimulate investments to push infrastructure development and bilateral trade as they sought to ward off threats of rising protectionism.

§  The two countries also signed agreements to establish $9 billion in concessional credit and $1 billion in Official Development Assistance (ODA) funding for infrastructure development projects in India.

§  As the world's fastest growing major economy, India offers Korea important opportunities to deploy its capital and technologies in India, the Finance Ministry said in a statement.

§  The signing of the credit and ODA agreement was to implement a decision taken during the visit of Prime Minister Narendra Modi to South Korea in May 2015.

UN General Assembly approves creation of new counter-terrorism office

§  The UN General Assembly has approved the establishment of a new office to coordinate counter-terrorism efforts, a move welcomed by India as a "much awaited first step" that will align the world body with needs of the global community in the fight against the menace.

§  India welcomed the creation of the new UN counter-terrorism office, saying it demonstrates the importance member states place on collective and coordinated action on terrorism, which remains the most complex threat faced by the international community.

§  The main functions of the new office would include enhancing coordination and coherence across the 38 Counter-Terrorism Implementation Task Force entities, strengthening the delivery of UN counter-terrorism capacity-building assistance to Member States, improving visibility, advocacy and resource mobilization for UN counter-terrorism efforts and ensuring that due priority is given to counterterrorism across the United Nations system and that the important work on preventing violent extremism is firmly rooted in the strategy.

India re-elected to UN body on economic, social issues; Pakistan loses out

§  India has been re-elected to the UN’s principal organ on economic, social and environmental issues for another three-year term.

§  India was among 18 nations to win election to the Economic and Social Council (ECOSOC). India obtained 183 votes, the second highest after Japan in the Asia Pacific category.

§  Pakistan, whose term on the Council is expiring this year, was seeking re-election to the UN body but lost as it got only one vote. 

§  ECOSOC, one of the six main organs of the United Nations, is the principal body for coordination, policy review, policy dialogue and recommendations on economic, social and environmental issues, as well as for implementation of the internationally agreed development goals.

China, ADB launch green financing platform to fight pollution

§  China and the Asia Development Bank (ADB) have launched a green financing platform to support efforts by small- and medium-sized enterprises to cut pollution in the smog-hit Beijing-Tianjin-Hebei region

§  The area, home to six of China's 10 smoggiest cities in the first quarter of this year, has promised to upgrade or shut vast swathes of polluting industry as it tries to meet 2017 air quality targets.

§  But financing the transition to cleaner energy has proved one of its biggest challenges, especially in poorer rural regions of Hebei, where the switch from coal to natural gas is expected to cost at least 300 billion yuan ($44.04 billion) over the 2016-2020 period.

§  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.

§  The bank late last year approved a loan of 458 million euros ($510.58 million) for the platform, which it says will leverage 3.6 billion euros in domestic commercial financing.

Sports.

French Open 2017: Michael Venus, Ryan Harrison win men's doubles title

§  Michael Venus became New Zealand's first Grand Slam champion since 1974 when he partnered American Ryan Harrison to the French Open men's doubles title.

§  Venus and Harrison defeated Santiago Gonzalez of Mexico and American Donald Young 7-6 (7/5), 6-7 (4/7), 6-3 in the final at Roland Garros.

§  The 29-year-old is just New Zealand's second Grand Slam winner in the modern era, after Onny Parun teamed up with Australian Dick Crealy to win the men's doubles crown in Paris 43 years ago.

Vietnam GM Nguyen bags Mumbai Mayor Chess title 

§  Vietnam Grand Master Nguyen Duc Hoa clinched a decisive win against Indian GM Neelotpal Das in the 10th and concluding round to finish with 8.5 points and emerge champion of the 10th Mumbai Mayor's Cup International Open Chess Tournament

§  The champion went home richer with the top prize of Rs 3 lakhs, while top-ranked Tajikistan GM Farrukh Amonatov (ELO 2635) took home a cheque of Rs 2 lakhs by finishing runner-up.

§  Amonatov finished with 8 points following his triumph over Russian GM Deviatkin Andrei (2481) to claim the second spot.

Lewis Hamilton wins in Canada for sixth time

§  Lewis Hamilton won the Canadian Grand Prix by slashing Sebastian Vettel'

§  After watching Ferrari sweep to a one-two finish two weeks ago in Monaco, Mercedes hit back with a dominating display as Hamilton cruised to his 56th career win, a leisurely 19.7 seconds in front of team mate Valtteri Bottas.

§  It was Hamilton's third victory of the season and also his third in a row at the sun-bathed but windswept Circuit Gilles Villeneuve.

Jitu Rai-Heena Sidhu pair wins gold in ISSF World Cup

§  India's Jitu Rai and Heena Sidhu combined to clinch the gold medal in mixed team 10m air pistol event of the ISSF World Cup, beating Russia 7-6 in the final

§  France beat Iran to win the bronze in the event.

§  China has been leading the medal tally at Gabala with six medals, including three gold.

Virat Kohli reclaims top spot in ICC ODI rankings for batsmen

§  India captain Virat Kohli today reclaimed the top spot in the latest ICC ODI rankings for batsmen following the conclusion of the last round of league matches in the Champions Trophy.

§  Kohli had entered the tournament 22 points behind number-one ranked AB de Villiers of South Africa, who had been No.1 since 25 February this year, and 19 points behind Australia's David Warner.

§  Indian opener Shikhar Dhawan secured a position in the top 10.

Unseeded Jelena Ostapenko wins French Open women’s crown

§  Unseeded Jelena Ostapenko of Latvia beat Simona Halep 4-6, 6-4, 6-3 at Roland Garros on Sunday to win the 2017 French Open Women’s Singles crown and her first ever Grand Slam title. 

§  Ostapenko, 20, is the first unseeded woman to win the French Open since Britain's Margaret Scriven in 1933.

§  Ostapenko is also the first player of Latvian origin - men or women - to win a Grand Slam event. 

§  This is Ostapenko’s eighth career major.

Pune girl wins bronze in Archery World Cup

§  Pune girl Divya Dhayal won the bronze medal at the Archery World Cup, held at Antalya, Turkey from June 6 to June 11. 

§  In the compound mixed team event, the Indian team, comprising Divya Dhayal and Abhishek Verma, defeated Italy 154-153 in a nail biting match to win the bronze.

§  Indian compound men and compound women teams had also reached semifinals, but both the teams stood fourth and missed the medal. 

§  However, the mixed team saved the day for the Indian contingent by winning the match. Dhayal, being one of the youngest player at 15 years, stole the show by keeping her cool under pressure and shooting perfect shots.

Indians wrestlers bag 5 medals at Junior Asian Championships

§  Indian wrestlers produced a superb show to bag five medals at the Junior Asian Championships 

§  Among the women, Pooja Gehlot won gold in the 51kg category while Sonu clinched a silver medal in the 44kg event. Manju Kumari got a bronze in the women's 59kg division.

§  The boys bagged two medals in the Greco-Roman categories on the second day of the competition with S. Satish clinching silver in the 120kg division while Manish got a bronze in the 50kg category.

§  The Indian boys have now registered a tally of one silver and six bronze medals over the two days of the Greco-Roman competition.

§  This is the best performance by Indian boys in the Greco-Roman style as they have finished on the podium in every weight category except for the 60kg division.

§  In the women's 51kg category, Pooja scripted an exciting 6-5 win over Chisaki Hori of Japan in the final. 

Awards & Achievements.

Indian girl bags Little Miss Universe Internet 2017 crown at Little Miss Universe in Georgia

§  12 year old Padmalaya Nanda from Odisha has created history by becoming the youngest girl to bag the "Little Miss Universe Internet 2017" and "Little Miss Actress" crowns at the Little Miss Universe 2017 at port city of Batumi in Georgia.

§  Padmalaya Nanda, who studies in the 8th standard at a school in Cuttack, Odisha, bagged the crowns at the finale of the :little Universe 2017, held at port city of Batumi in Georgia

§  She will now participate in the "Little Miss World 2017" competition that will be held at Greece from Sept 25 to Oct 1, 2017.

§  The silver crown was won by Thailand.

§  The award recieved by the girl was a golden crown which is valid only for a year and will be returned for the Little Miss Universe 2018 competition.

Nalanda model of water conservation chosen for national award

§  A model of water conservation adopted successfully by the authorities in Nalanda district of south central Bihar, has been selected for the national award for excellence in the Mahatma Gandhi national rural employment guarantee programme (MGNREGP), by the ministry of rural development.

§  The award for excellence will be conferred on ‘Project Jal Sanchay’, the water conservation model developed in chief minister Nitish Kumar’s native district

§  It was under these conditions that ‘project jal sanchay’ was launched under MGRNREGP, to offer farmers a wide spectrum of solutions to their water crisis

Israel's David Grossman wins Man Booker Prize for 'A Horse Walks Into a Bar'

§  Israeli author David Grossman has won the Man Booker International Prize for his novel `A Horse Walks Into a Bar'. 

§  Grossman beat out five other finalists, including fellow Israeli author Amos Oz for the counterpart to Britain's prestigious Booker Prize. Grossman's novel is about a failing standup comic and his final performance. 

§  The award has a prize of 50,000 pounds ($64,000) that is split evenly between Grossman and translator Jessica Cohen.

Ariana Grande Slated to Become First Honorary Citizen of Manchester

§  Ariana Grande is set to become the first honorary citizen of Manchester after her contributions to the city following the deadly Manchester Arena attack, which killed people and left many more injured.

§  In light of her One Love Manchester benefit concert in early June, which reportedly raised millions for the victims of the attack, Manchester town hall officials have announced plans to recognize the "great many selfless acts and demonstrations of community spirit" in the aftermath of the attack with an event and granting honorary citizenship to the star

E. Sreedharan selected for Nanniyode Rajan Award

§  Delhi Metro Railway Corporation (DMRC) Principal Adviser E. Sreedharan has been selected for the year’s Nanniyode Rajan Memorial Award, instituted by the Milma Thiruvananthapuram Regional Cooperative Milk Producers’ Union (TRCMPU) in memory of its former chairman.

§  The previous recipients of the award, instituted in 2008, included E. Chandrasekharan Nair, Prayar Gopalakrishnan, V. Kurian, M.S. Swaminathan, P.J. Joseph, Vakkom B. Purushothaman, K.C. Joseph, and C. Divakaran.

§  The Koyivila Vijayan Memorial trophy and cash award for the best milk producers’ cooperative society will be presented to the Vechuchira milk producers’ cooperative society in Pathanamthitta.

Women in Film Awards: Mira Nair wins

§  Mira Nair wins Directors Award at Women In Film Awards

§  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. 

§  Queen of Katwe's lead actress Lupita Nyong'o presented the award. 

§  Further, Elizabeth Banks won the Crystal Award for Excellence in Film and Tracee Ellis Ross won the Lucy Award for Excellence in Television.

‘Sultan’ to be screened at Shanghai film fest

§  Bollywood superstar Salman Khan’s ‘Sultan’ has been lined up for a showcase at the 20th Shanghai International Film Festival.

§  The gala is to be held from June 17-26.

§  Director Ali Abbas Zafar tweeted on Thursday: “‘Sultan’ will be showcased at 20th Shanghai International Film Festival.” A sports drama, the movie features Salman in the role of a wrestler and he is paired with Anushka Sharma.

§  For now, Zafar is busy working on his new film ‘Tiger Zinda Hai’, which again features Salman.

Kannada poet Shivaprakash honoured

§  Noted Kannada poet and playwright H S Shivaprakash was presented with the Kusumagraja Rashtriya Puraskar 2017.

§  Maharashtra and Karnataka despite both states being at loggerheads over a border dispute. Kusumagraj, after whom the award is named, was a pen-name of Marathi litterateur V V Shirwadkar, a Jnanpith awardee.

§  Shivaprakash, who writes in Kannada and English, has nine compilations of poems and 15 dramas.

§  The award, constituted by Nashik-based Yashwantrao Chavan Maharashtra Open University's (YCMOU) Kusumagraja Adhyasan (Chair), carries a cash prize of Rs 1 lakh, a memento and citation. It was presented to Shivaprakash by Akshaykumar Kale, president, 90th Akhil Bharatiya Marathi Sahitya Sammelan.

Bhupen Hazarika Award conferred to Yeshe Dorjee Thongshi

§  The Fifth Bhupen Hazarika National Award 2017 awarded to an eminent writer from Arunachal Pradesh Yeshe Dorjee Thongshi.

§  This award is presented to honour whose outstanding literary work at National and International level.

§  The award has been instituted by Sarhad, a Maharashtra-based organisation.

§  His famous novel includes Mauna Onth Mukhar Hriday (Silent lips, murmuring hearts) which won the Sahitya Akademi award in 2005.

Syama wins Kerala's 1st beauty pageant for transgenders

§  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. 

§  Celebrities including Madhoo, Remya Nambeeshan and Pearle Maaney attended the pageant while former Miss World runners-up Parvathy Omanakuttan was one of the judges.

Banking & Finance.

GST Council cuts tax rate on gold jewellery making charges to 5%

§  Goods and Service Tax (GST) Council reduced the applicable rate on making charges from 18 per cent to just 5 per cent.

§  The GST Council has reduced the tax levels in 66 out these 133 cases. The diamond processing and others would attract a levy of five per cent now,

§  The GST Council has reduced the tax levels in 66 out these 133 cases. The diamond processing and others would attract a levy of five per cent now,

RBI to issue new batch of Rs 500 notes

§  The Reserve Bank of India (RBI) on Tuesday said it is launching a new batch of Rs 500 notes. 

§  In continuation of issuing of Rs 500 denomination banknotes in Mahatma Gandhi (new) series from time to time which are currently legal tender, a new batch of banknotes with inset letter "A" in both the number panels, bearing the signature of Dr. Urjit R. Patel Governor, Reserve Bank of India; with the year of printing '2017' on the reverse, are being issued,"

§  The new series earlier released and currently in circulation has the inset letter "E". They will continue to be valid.

12 accounts with 25% of bank bad loans identified for bankruptcy proceedings

§  The Reserve Bank of India (RBI) said 12 accounts representing about 25% of the gross bad loans in the banking system would be eligible for immediate reference for bankruptcy proceedings.

§  An internal panel of the central bank has suggested that accounts with outstanding amounts of more than Rs5,000 crore, of which at least 60% was classified as non-performing by banks as of 31 March 2016, can be referred for bankruptcy proceedings.

§  For accounts that don’t meet the criterion set by the advisory panel, the IAC suggested that banks should finalize a resolution plan within six months. In cases where a viable plan is not agreed within six months, banks have to file for insolvency proceedings, the RBI statement said.

§  The details of the resolution framework for these other non-performing accounts will be released in the coming days

Verizon completes Yahoo acquisition in over $4 billion deal

§  Verizon completed its acquisition of Yahoo in a deal worth $4.48 billion (nearly ₹29,000 crore). 

§  Following this, Yahoo CEO Marissa Mayer has resigned and Yahoo Internet operations will be now integrated into a new unit called Oath, which also includes brands like AOL and Huffington Post. 

§  The new unit will be overseen by former AOL CEO Tim Armstrong.

RBI places restrictions on banking activities of Central Bank of India

§  The Reserve Bank of India (RBI) has placed Central Bank of India under prompt corrective action which puts restricts on banking activities such as from lending, hiring and expanding branches. 

§  PCA has been triggered in view of negative return on assets and high ratio of bad loans. So far, RBI has triggered PCAs for four banks – IDBI BankBSE, UCO Bank Dena Bank and Indian Overseas Bank. 

§  The PCA was initiated on Central Bank of India since it reported losses for two consecutive years, had negative return on assets and its share of bad loans has crossed 6%. 

§  Central Bank has reported loss of Rs 2439 crore for fiscal year 2016-17 against losses of Rs 1418 crore ayear ago. Its share of gross non-performing loans rose to 17.88% against 11.9% a year ago. Return on capital moved to a negative territory for the last two years to 0.80% from 0.48% in 2015-16. 

Sebi allows options trading in commodities

§  Capital markets regulator Securities and Exchange Board of India (Sebi) allowed commodity derivative exchanges to launch options contracts for trading with the aim of increasing liquidity and attracting more investors to the commodities market.

§  Commodity options will facilitate hedging by market participants and help deepen the commodity derivatives market.

§  The exchanges have been allowed to trade in options following a recommendation by the Commodity Derivatives Advisory Committee (CDAC)

§  At present, only futures contracts based on individual commodities are traded on commodity bourses.

§  Every exchange will need prior approval from Sebi for launching options trading for which detailed norms will be released later, according to the circular. 

§  The move comes exactly a year after the erstwhile commodity markets regulator,the Forward Markets Commission, was merged with Sebi.

§  At present, the National Commodity and Derivatives Exchange (NCDEX) and Multi Commodity Exchange of India (MCX) are the two main nationwide commodity exchanges. 

§  NCDEX, which is dominated by larger rival MCX, has around 10.61% of average monthly turnover.

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, only one (unchanged from the previous survey conducted in 2015) out of 26 public sector banks and eight (nine in the previous survey) out of 17 private sector banks got ‘high’ rating for their adherence to code compliance.

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

§  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.

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

§  The code compliance rating, which is based on five parameters — information dissemination, transparency, grievance redressal, customer-centricity, and customer feedback — may be considered an indicator of the level of implementation of important code provisions at the grassroot level of a bank.

§  A total of 51 banks (46 banks in 2015) were surveyed for code compliance in 2017. In the latest round, five urban co-operative banks were included. The survey is based on a sample size of 2.5 per cent of the branch network of 51 major banks.

SEBI asks commodity bourses to set up investor service fund

§  Commodity derivatives exchanges have to set up Investor Service Fund (ISF) for providing minimum facilities at various investor service centres.

§  Sebi said the Investor Protection Fund (IPF) of an exchange should have a maximum of five trustees.

§  Three of the five should be public interest directors and a representative from Sebi-recognised any investor association. Besides, the exchange’s compliance officer will be part of the trust.

§  Commodity exchanges have to compulsorily set up investor protection and service funds

§  However, the amount of compensation available against a single claim of an investor arising out of defaulter by a member broker should be at least Rs. 1 lakh.

§  While the bourses can utilise the income earned on the IPF corpus towards promotion of investor education and awareness programmes, the supervision of utilisation of interest on IPF will be with the trust.

Yes Bank partners with TerraPay for faster international remittance

§  Private sector lender Yes Bank has partnered with mobile payments switch TerraPay to enable real time money transfer to bank accounts in India. Powered by TerraPay’s global clearing and settlement service, the partnership will make it faster and convenient for consumers to send money to any bank account. 

§  TerraPay has partnered with Yes Bank in a Rupee Drawing Arrangement which enables TerraPay’s network partners to make instant cross-border money transfer to bank accounts in India. 

§  This means that Indian migrants worldwide can walk into TerraPay’s partner outlet anytime and send money to their family and friends back home, instantly in their bank account. 

§  For bank accounts other than Yes Bank accounts, Yes Bank will disburse funds using the immediate payment service, popularly known as IMPS. 

§  The service is available 24X7.

IOC, BPCL, HPCL Sign Agreement To Set Up $30 Billion Refinery

§  State-owned oil firms IOC, BPCL and HPCL signed an agreement to jointly set up India's biggest refinery at Ratnagiri district of Maharashtra at a cost of USD 30 billion or Rs. 2 lakh crore.

§  Indian Oil Corp (IOC) will be the lead partner with 50 per cent stake while Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) will take 25 per cent stake each.

§  The three oil refining and marketing companies signed the joint venture agreement here this evening. The pact was signed by IOC Chairman Sanjiv Singh, HPCL Chairman and Managing Director Mukesh Kumar Surana and BPCL Chairman and Managing Director D Rajkumar.

§  The three oil refining and marketing companies have signed the joint venture agreement.

§  The 60 million tonnes capacity refinery at Babulwadi, Taluka Rajapur in Ratnagiri district is being set up keeping in mind the future fuel demand and the export potential of the country.

§  The refinery and the accompanying mega petrochemical complex will be set up in two phases. Phase-1 will be 40 million tonnes together with an aromatic complex, naphtha cracker and polymer complex.

§  Phase-1 will cost Rs. 1.2-1.5 lakh crore and will come up in five-six years from the date of land acquisition

§  The entire refinery will include three crude units of 20 million tonnes each -- first of these will be part of phase-1. The second phase will cost Rs. 50,000-60,000 crore

DCB bank launches Aadhaar based iris eye scan customer verification service

§  DCB Bank, a new generation private sector bank has launched new services - India’s first Aadhaar based iris eye scan customer verification and fingerprint operated ATM in Telangana

§  These services utilise a customer’s Aadhaar number, eye scan and fingerprint impression.

§  The DCB ATM also can be used with the usual ATM/ Debit Card.

§  This launch coincides with the inauguration of 3 new branches in Mancherial, Mothe and Narsapur in the state

§  DCB Bank branches in Telangana provide a range of banking products for farmers, agri-business, micro business, small business and individuals.

§  The Bank provides loans for tractors, dairy, crop, land development, agri processing activities as well as for high-tech farming such as greenhouses.

Aadhaar now mandatory for bank accounts, link it by Dec 31

§  Government has made Aadhaar mandatory for opening new accounts. It has noted that all existing bank accounts will have to be linked with Aadhaar number by December 31, 2017 or else they will be declared invalid.

§  More significantly, not only Aadhaar has been mandatory for opening new accounts but also for carrying out high-value transactions. 

§  The government has said that transactions worth Rs 50,000 or more will now require Aadhaar number. 

§  This is similar to how PAN number was required for high-value transactions. But now instead of PAN, consumers will have to quote Aaadhar number. 

§  The government move to link all bank accounts with Aadhaar number comes days after the Supreme Court partially struck down the government proposal to make Aadhaar mandatory for filing of tax returns. 

Amazon to Acquire Whole Foods Market

§  Amazon and Whole Foods Market, Inc. announced that they have entered into a definitive merger agreement under which Amazon will acquire Whole Foods Market for $42 per share in an all-cash transaction valued at approximately $13.7 billion, including Whole Foods Market’s net debt.

§  Whole Foods Market will continue to operate stores under the Whole Foods Market brand and source from trusted vendors and partners around the world. John Mackey will remain as CEO of Whole Foods Market and Whole Foods Market’s headquarters will stay in Austin, Texas.

§  Completion of the transaction is subject to approval by Whole Foods Market's shareholders, regulatory approvals and other customary closing conditions. 

§  The parties expect to close the transaction during the second half of 2017.

Flipkart-eBay India deal gets CCI nod

§  E-commerce major Flipkart's proposed acquisition of eBay India has received approval from the Competition Commission.
 

§  Besides, the fair trade regulator has given nod to eBay Singapore's subscription of compulsorily convertible preference shares (CCPS) issued by Flipkart. 

§  As per the notice submitted to the regulator, the transaction relates to the acquisition of 100 per cent share capital of eBay India by Bangalore based e-commerce firm Flipkart. 

§  The transaction also involves the acquisition of certain compulsorily convertible preference shares of Flipkart by eBay Singapore 

§  eBay will invest $500 million in Flipkart as the two firms will merge their operations in the country. As part of the deal, Flipkart will own and operate eBay's business in India. 

20 Indian firms in top 100 companies in Asia 300 ranking

§  20 Indian firms have been named in the top 100 of Nikkei Asian Review's Asia300 companies list, which was topped by taiwan's Largan Precision.

§  According to the Nikkei Asian Review's second annual Asia 300 Power Performers Ranking -- a compilation of the most powerful and valuable listed companies in Asia, as many as three Indian companies have made it to the top 10 list,

§  Indian IT service provider HCL Technologies came in at the second place, followed by Zee Entertainment Enterprises and Tata Consultancy Services at the third and fourth place respectively.

§  Others in the top ten include, Taiwan Semiconductor Manufacturing Co at the 5th position, Alibaba Group Holding (6th), ECLAT TEXTILE (7th), Vietnam Dairy Products (VINAMILK) (8th), Tencent Holdings, (9th) and Airports of thailand at the 10th place.

§  Other Indian companies named among top 100 include Sun Pharmaceutical Industries at the 11th place, infosys (15), ITC (16), MARUTI SUZUKI INDIA (17), Lupin (18), Dabur India (24), Asian Paints (28), Power Grid Corporation of India (40), Godrej Consumer Products (41), Bajaj Auto (43), Wipro (48), Hero MotoCorp (57), Hindustan unilever (62), Housing Development Finance Corp (71), Motherson Sumi Systems (72) and Vedanta at 93rd place.

Science & Technology.

Jupiter is the most ancient planet in the solar system

§  Jupiter is the oldest planet in the solar system, according to research published in the journal Proceedings of the National Academy of Sciences (PNAS).

§  Scientists led by Thomas S. Kruijer of the University of Münster, in Germany, measured concentrations of molybdenum and tungsten isotopes derived from iron meteorites to model the age of the system’s largest planet.

§  There are two distinct groups of iron meteorites, the researchers suggest, which arose separately within the nebula cloud from which the solar system eventually coalesced. 

§  They represent, they write, “two genetically distinct nebular reservoirs that coexisted and remained spatially separated” during the first few million years of the solar system’s formation.

§  The most plausible explanation for their separation, Kruijer and colleagues suggest, is the formation of Jupiter in between them.

§  Jupiter is a type of planet known as a gas giant. Its likely formation involved first the accretion of a solid core, followed by the accumulation of thick layers of gases surrounding it.

DRDO Successfully Test-fires Anti-tank Missile Nag in Rajasthan

§  The Defence Research and Development Organisation (DRDO) on Tuesday successfully test-fired Anti-tank Guided Missile (ATGM) 'Nag' in a desert in the western sector of Rajasthan. 

§  The "fire and forget" third generation anti-tank guided missile 'Nag' is equipped with the highly advanced Imaging Infrared Radar (IRR) seeker with integrated avionics, technology which is possessed by very few nations,

§  DRDO chairman Dr S Christopher congratulated the team who were a part of the mission.

China launches its first X-ray space telescope

§  China successfully launched  its first X-ray space telescopeto study black holes, pulsars and gamma-ray bursts, state media reported.

§  A Long March-4B rocket carried the 2.5-tonne telescope into orbit from the Jiuquan Satellite Launch Center in northwest China's Gobi Desert

§  The Hard X-ray Modulation Telescope (HXMT), named Insight, will allow Chinese scientists to observe magnetic fields and the interiors of pulsars and better understand the evolution of black holes.

§  It will also help scientists search for gamma-ray bursts corresponding to gravitational waves and study how to pulsars can be used for spacecraft navigation

§  In April, China's first cargo spacecraft successfully docked with an orbiting space lab - a key development toward China's goal of having its own crewed space station by 2022.

Appointments.

IRDA appoints administrator to manage Sahara Life Insurance

§  Insurance Regulatory and Development Authority of India (IRDA) appointed an administrator to manage Sahara India Life Insurance Company, saying Subrata Roy-run insurer was “acting in manner” prejudicial to interest of subscribers.

§  The regulator has asked the directors, management, and staff of the insurer to extend all possible assistance and cooperation to the administrator to manage the affairs of Sahara Life Insurance Company.

Kajal Singh appointed as Executive Vice President, GSTN

§  Senior bureaucrat Kajal Singh was appointed as Executive Vice President (Services) in Goods and Services Tax Network (GSTN).

§  Singh, a 1992 batch officer of Indian Revenue Service (Customs and Central Excise), has been appointed to the post for a period of three years, 

§  The GSTN is a special purpose vehicle set up to provide Information Technology infrastructure for implementation of the GST. 

Govt announces Indian envoys to European Union, Italy, Denmark

§  India has announced a number of new diplomatic appointments in its missions abroad, including envoys to the European Union, Italy and Denmark.

§  Gaitri Issar Kumar, joint secretary in the President’s Secretariat and a 1986 batch IFS officer, was named as India’s Ambassador to Belgium and the European Union which has its headquarters in the Belgian capital of Brussels.

§  Reenat Sandhu was named as India’s new Ambassador to Italy. 

§  Ajit Vinayak Gupte, joint secretary in the external affairs ministry, has been named India’s Ambassador to Denmark. 

Fairoz Khan appointed new President of NSUI

§  Congress President Sonia Gandhi and Vice President Rahul Gandhi on Monday approved appointment of Fairoz Khan as the new President of the National Students Union of India (NSUI), the students wing of the party.

§  This was announced by AICC General Secretary Janardan Dwivedi in a statement. Khan has been appointed NSUI President for two years.

Law Expert Neeru Chadha Becomes First Indian Woman Judge At International Sea Tribunal

§  In a significant victory for India at the United Nations or the UN, international law expert Neeru Chadha has won a crucial election to a top UN judicial body that deals with disputes related to the law of the sea, becoming the first Indian woman to be appointed as a judge at the tribunal.

§  Ms Chadha, an eminent lawyer and the first Indian woman to become the chief legal adviser in the ministry of external affairs, won the election yesterday to the International Tribunal for the Law of the Sea (ITLOS) for a nine-year term from 2017 to 2026.

§  All three candidates went to a second round of voting in which Thailand won the other seat in the Asia Pacific group. 

§  Ms Chadha has extensive international arbitration and litigation experience, having served as an agent for the Indian government in its maritime delimitation case with Bangladesh.

§  She was also India's agent for the case filed by Italy in ITLOS involving two Italian marines accused of shooting two Indian fishermen off the coast of Kerala in 2012.

TCS executive to head Atal mission under NITI Aayog

§  The government has appointed a senior executive of Tata Consultancy Services to head Atal Innovation Mission, its initiative to promote entrepreneurship in the country, in perhaps the first initiative to bring in best of private minds to drive innovation in governance.

§  Ramanathan Ramanan, senior vice president at TCS, has been appointed as mission director of Atal Innovation Mission, under the government's premier think tank NITI Aayog

Serbia Appoints First Gay and Female Prime Minister

§  Forty-one-year-old Ana Brnabić is set to become both the first gay and first female prime minister of Serbia following her nomination by the nation’s president, Aleksandar Vučić

§  Vučić said he would be giving Brnabić a mandate to form a new government—a decision that is unlikely to be contested in parliament, where the president’s Serbian Progressive Party maintains a firm majority. Although Brnabić is nonpartisan, she is considered loyal to Vučić.

§  Brnabić’s lack of political experience also makes her an ideal choice for Vučić, who was reportedly keen on appointing someone to promote his own agenda. Indeed, Vučić is likely to remain the most powerful figure in Serbian politics, with Brnabić acquiring a more symbolic authority.

Books & Authors.

Ex-Uttarakhand CM Ramesh Pokhriyal authors book on Atal Bihari Vajpayee

§  Former Uttarakhand chief minister Pokhriyal, who credited Vajpayee for his debut in politics, authored a 450-page book titled -‘Yug Purush, Bharat Ratna, Atal Ji’ – which will be officially unveiled soon. 

§  However, the first copy of the book on the social and political life of Vajpayee was presented to Mukherjee

Obituary.

Justice PN Bhagwati, former chief justice of India, dies at 95

Ø   Former chief justice of India, Justice P.N. Bhagwati, passed away in the national capital. 

Ø   He was 95.

Ø   Bhagwati, who was India’s chief justice from July 1985 to December 1986 is widely credited with introducing public interest litigation (PIL) along with his brother justice V.R. Krishna Iyer.

Ø   He was a judge of the Gujarat high court for 13 years and served as chief justice of the high court from 1967 to 1973. 

Ø   Subsequently, he was elevated to the apex court. 

Ø   After his retirement, Bhagwati held several key offices on judicial reforms and legal aid in Gujarat. 

Ø   He ran the Pilot Project of free Legal Aid and Advice in the state as chairman of the State Legal Aid Committee.

Helmut Kohl, father of German reunification, dies

Ø  Former German Chancellor Helmut Kohl, the architect of German reunification, died

Ø  He was 87.

Ø  Germany's longest serving post-war chancellor from 1982 to 1998, Kohl was a driving force behind the introduction of the euro currency, convincing sceptical Germans to give up their cherished deutschemark.

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