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National Current Affairs | Access the Latest Happenings across India

1. Frozen Semen Station to be set up in Maranga, Purnea:

 

The foundation stone of the Frozen Semen Station is set down in Maranga, Purnea. Frozen Semen Station is being set up at a cost of INR 64 Crore under the Rashtriya Gokul Mission, said by Mr. Radha Mohan Singh, the Union Minister of Agriculture & Farmers.

Central Government has invested 100% in this project.

The artificial insemination is being done by CMOFED (Sudha) in Bihar. High genetic merit bulls’ semen is required for that process.

This frozen semen station in Purnea will be known as the first state of the art semen production centre of the country.

To converse and develop indigenous breeds, the Rashtriya Gokul Mission was initiated in 2014.

2. Vikas Yatra launched by Chhattisgarh CM:

 

Vikas Yatra has been launched by Raman Singh, the Chief Minister of Chhattisgarh.

This yatra was to tell people about the development the state has witnessed.

Free pesticides were distributed by the CM to 5.5 lakhs labourers during this Yatra.

 

 

3. Several Schemes launched by President in Rajasthan:

 

A civic reception has been hosted for Shri Ramnath Kovind, the president of India in Jaipur, Rajasthan by the State Government on 13^th May 2018.

The President appreciated the state government for launching the schemes i.e. “Bhairon Singh Shekhawat Antyodaya Employment Scheme” and the “Sunder Singh Bhandari EBC Self-Employment Scheme”.

Other than these two schemes, a third scheme was also launched by Shri Ramnath Kovind. It is the loan waiver for SCs, STs and other deprived communities.

4. Madhya Pradesh to be ODF by 2nd October this year:

 

It has been announced by Shri Shivraj Singh Chouhan, the Chief Minister of MP that MP will be declared as Open Defecation Free (ODF) by 2^nd October 2018.

 

This means that the Madhya Pradesh preponed its Open Defecation Free deadline by one year on the 150^th birth anniversary of Mahatma Gandhi.

 5. First ever Joint Conference held between Customs and Postal Department:

 

The first ever Joint Conference has been held between the Indian Customs and Department of Indian Posts at Vigyan Bhawan in New Delhi.

This conference was held for deliberating on streamlining of imports and exports by post.

Commissioners of Customs from all the States having Foreign Post Offices (FPOs) were present along with their counterpart Post Master Generals.

Imports and exports by post are the 6th highest cited citizen grievances under CPGRAMs.

Customs and Directorate General of Foreign Trade (DGFT) have worked together since a year to liberalize, reform and align laws relating to imports by Post.

6. The Governor of Assam inaugurated Regional Conference on “Physical and Social Infrastructure for Regional Development”:

 

The two-day seminar on the theme of “Physical and Social Infrastructure for Regional Development” was inaugurated by Prof. Jagdish Mukhi, the Governor of Assam.

This seminar was organized by the Ministry of Finance, Government of India in collaboration with the Asian Infrastructure Investment Bank (AIIB), Research and Information System for Developing Countries (RIS) and the Federation of Indian Chamber of Commerce and Industries (FICCI) in Guwahati, Assam.

7. Provided central assistance to Assam, HP, Sikkim and Rajasthan and UT of Lakshadweep:

 

High Level Committee (HLC) chaired by Union Home Minister approves Central assistance of INR 1,161.17 crores to states of Assam (affected by floods during 2017-18), Himachal Pradesh (affected by floods/ landslides during 2017-18), Sikkim (affected by floods/ landslides during 2017-18) and Rajasthan (affected by Kharif drought during 2017) and UT of Lakshadweep (affected by cyclone Ockhi during 2017).

An assistance of INR 480.87 crore approved by the HLC for Assam.

In order of this assistance from NDRF amounting to Rs 84.60 crore for the state of Himachal Pradesh, Rs 67.40 crore for the state of Sikkim, Rs 2.16 crore for the UT of Lakshadweep and Rs 526.14 crore for the state of Rajasthan also approved by the HLC.

8. 4th Global Exhibition on Services inaugurated by the President of India in Maharashtra:

Shri Ramnath Kovind, the President of India has inaugurated the 4th Global Exhibition on Services and launched a portal on 12 Champion Sectors in Services in Mumbai on 15^th May 2018.

Around 500 international delegates from about 100 countries participated in this exhibition.

He commended the Ministry of Commerce and Industry of the Government of India, as well as the Government of Maharashtra, the Confederation of Indian Industry and the Services Export Promotion Council, for this initiative.

9. Cabinet approved setting up of a Central University in Andhra Pradesh:

 

The Union Cabinet which is chaired by the Prime Minister Narendra Modi has given its in-principle approval for establishing a Central University by the name of “Central University of Andhra Pradesh” in Ananthapur District, Andhra Pradesh.

The Cabinet has approved a provision of funds worth INR 450 crore to meet the first phase expenditure towards the establishment of the Central University of Andhra Pradesh.

The approval would increase access and quality of higher education and help in minimizing the regional imbalances in education facilities and give effect to the Andhra Pradesh Reorganization Act, 2014.

10. Intellectual Property Mascot – IP Nani launched by Suresh Prabhu:

The Intellectual Property (IP) Mascot- IP Nani has been launched by Mr. Suresh Prabhu, the Minister of Commerce and Industry at the conference on National Intellectual Property Rights Policy in New Delhi.

At this event, an anti-privacy video featuring named as Mr. Amitabh Bachchan was also launched by the Minister.

This Mascot IP Nani is a tech-savvy which is designed to help government and enforcement agencies in combating IP crimes with the help of her grandson “Chotu” aka Aditya.

Mascot-IP will spread the awareness about the importance of Intellectual Property Rights (IPRs) among people, especially children.

11. India’s first solar powered railway station now is in Guwahati:

 

India’s first solar powered railway station now is in Guwahati. The project of installing solar panel was commissioned last year in 2017.

Around 2352 solar modules with a capacity generating 700 kwp have been set up over the roof of the Guwahati railway station. Because solar panels have been installed at the roof-top solar power plant.

The aim of this power station is reducing carbon-footprint as well as cut down power.

12. Department of Commerce to Soon Have Directorate General of Trade Remedies:

 

The government of India’s Department of Commerce will soon have a Directorate General of Trade Remedies (DGTR).

Suresh Prabhu, the Hon’ble Commerce and Industry Minister has approved the creation of DGTR by following an amendment made to the Government of India (Allocation of Business) Rules, 1961 on May 7, 2018.

DGTR will be the apex National Authority for administering all trade remedial measures including anti-dumping, countervailing duties and safeguard measures.

DGTR will merge Directorate General of Anti-dumping and Allied Duties (DGAD), Directorate General of Safeguards (DGS) and Safeguards (QR) functions of DGFT into one single national entity.

It will also provide trade defence support to our domestic industry and exporters

13. A new AIIMS will set up in Deoghar, Jharkhand:

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved setting up of a new All India Institute of Medical Sciences (AIIMS) in Deoghar, Jharkhand.

AIIMS will be set up under the Pradhan Mantri Swasthya Suraksha Yojana (PMSSY).

The cabinet has approved a provision of funds worth INR 1103 crore for the project.

14. “AYUSH” finds a place in the English Language:

 

The word “Ayush” has been adopted by the Commission for Scientific and Technical Terminology for scientific and technical purposes in Hindi and English languages.

The “AYUSH” became popular as the acronym for five traditional and complementary systems of medicine, namely Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy.

15. Parcel Cargo Express Train (PCET) begins operation, connecting Northeast to the West Coast:

 

Northeast Frontier Railway of Indian Railway has started operating Parcel Cargo Express Train (PCET) connecting northeastern part of the country to West Coast on fortnightly basis.

It was launched to provide connectivity to northeast region and to empower local industries of this region.

16. Dr. Harsh Vardhan launched “Green Good Deeds” Movement:

 

Dr. Harsh Vardhan, Union Minister for Environment, Forest & Climate Change launched a societal movement “Green Good Deeds” to protect the environment and Promote good living in the country, has found acceptance by the global community.

The ongoing BRICS Ministerial on Environment at Durban, South Africa, has agreed to include “Green Good Deeds” in its official agenda in the next Ministerial in Brazil and another meeting in Russia”.

17. NABARD sanctioned Solar Street Lighting System in Arunachal:

 

LED Solar Street Lighting System has been sanctioned by the National Bank for Agriculture and Rural Development (NABARD) for Arunachal Pradesh under its Rural Infrastructure Development Fund.

The funds worth of INR 87.83 Lakhs has been approved for this.

The scheme was launched by Chief Minister Pema Khandu in the presence of NABARD Chairman Harsh Kumar Bhanwala.

18. Indian Railways to use Artificial Intelligence to control air circulation now:

 

Artificial Intelligence will be used first time by the Indian railways to control air circulation, signages and even supervision and maintenance work in the 10.28 km-long tunnel in Imphal as part of its 110 km railway line from Jiribam to Manipur’s capital city.

International Current Affairs | Know What’s happening around the World

1. BIMSTEC 2018 will be hosted by Nepal:

 

Nepal will host the 2018 Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) summit, announced by K P Sharma, the Prime Minister of Nepal during his meeting with India’s Prime Minister Narendra Modi.

KP Sharma also expressing commitment towards building the Bangladesh-Bhutan-India-Nepal initiative.

2. WHO launches REPLACE campaign to eliminate trans-fat in foods by 2023:

 

“REPLACE” a campaign to eliminate industrially-produced artificial trans fats from the global food supply by 2023 has been launched by the World Health Organization (WHO).

According to the estimation of the global health body, trans fat intake leads to over 5,00,000 deaths worldwide from cardiovascular diseases every year.

3. India took part in the 15th Meeting of SCO Cultural Ministers for the first time:

 

Dr. Mahesh Sharma, Minister of State for Culture (I/c) and Minister of State for Environment, Forests and Climate Change has attended Shanghai Cooperation Organization (SCO) Cultural Ministers Meeting at Sanya in China on behalf of India on 17^th May 2018.

It was the first time that India has attended the SCO Culture Ministers’ Meeting.

The meeting showcased India’s initiatives to actively pursue cultural cooperation with other countries including SCO countries.

India has become the full member of the Shanghai Cooperation Organization (SCO) on 9^th June 2017 during the SCO Heads of State Summit in Astana, Kazakhstan.

4. India third largest solar market in the world: Mercom Communications:

 

India emerged as the third largest solar market in the world after China and the US in 2017, said by the Mercom Communications India in a report.

India set a new record with 9.6 GW of solar installations in 2017 according to the report, which was more than double the 4.3 GW installed in 2016.

The robust growth boosted the country’s total solar installed capacity to 19.6 GW as of December 2017, it added.

Memorandum of Understanding (MoU) | Get the Best Information Out of Top Agreements

1. MOU was signed between Punjab and UK for setting up bio gas & bio CNG plants:

 

An agreement has been signed between the Punjab Government and UK for setting up the bio-gas and bio-CNG plants in the state.

This MOU was signed in the presence of Punjab Finance Minister Manpreet Singh Badal and Andrew Ayre, deputy high commissioner, British High Commission.

Punjab Infrastructure Development Board (PIDB) will ease out regulatory clearances and incentives by the state government.

2. NTPC signed MOU with Government of Bihar:

 

NTPC signed an MOU with the Government of India to improve the performance of Power Sector in Bihar.

The memorandum was signed at Patna in the presence of the Union Minister of State (Independent Charge) for Power and New & Renewable Energy, Shri R. K. Singh and Chief Minister of Bihar, Shri Nitish Kumar.

The MOU predicts transfer of Barauni Thermal Power Station (720 MW) to NTPC.

In addition to this, Bihar State Power Generation Company’s (BSPGCL) equities in Kanti Bijlee Utpadan Nigam Limited (KBUN) & Nabinagar Power Generating Company (Pvt.) Limited (NPGC) will also be transferred to NTPC.

All the three power generation facilities are predicted to be transferred to NTPC from the effective date to be notified by Government of Bihar through a Statutory Transfer Scheme.

The transfer of these power stations to NTPC will result in their optimal & efficient utilization, bring the tariff down and benefit the people of Bihar at large.

3. NALCO signed MOU with Government of India for FY 2018-19:

An MOU has been signed between the Aluminium major & Navratna CPSE National Aluminium Company Limited (NALCO) and Ministry of Mines, Government of India.

The MOU was signed to set the highest ever target of INR 9350 crore revenue from operations for FY 2018-19 which is 15% higher than last year.

A target of 2.1 million tons for production of Alumina with 100% capacity utilization & an optimum Aluminium production target of 4.15 lakh tonnes has been also set in this MOU.

The MOU has also set a target of reduction in net carbon consumption as part of the improvement in production efficiency, apart from giving thrust to the commercialization of new R&D products.

4. MOU was signed between India and Suriname in the field of electoral management:

The Memorandum of Understanding (MoU) between India and Suriname on cooperation in the field of electoral management and administration has been approved by the Union Cabinet chaired by Prime Minister Mr. Narendra Modi.

This MOU includes exchange of knowledge and experience in the field of organizational and technical development of electoral process; support in exchanging information, institutional strengthening and capacity building, training of personnel, holding regular consultations etc.

It will promote bilateral cooperation, aimed at building technical assistance / capacity support for Suriname envisaging cooperation in the field of electoral management and administration.

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Banking Awareness & Economics Current Affairs | Understand the Top Trends in India

1. RBI initiated prompt corrective action against Dena Bank:

 

RBI has initiated the prompt corrective action against public sector lender Dena bank in view of high non-performing loans, restricting the bank from giving fresh credit and new hiring.

Dena Bank is under loss of INR 1225.42 crore till March quarter due to bad loans and higher provisioning to cover them.

Reserve Bank of India took the similar action against the public sector banks such as IDBI Bank, Indian Overseas Bank and UCO Bank before this.

2. India was world’s largest remittance-receiving country in 2017:

According to a recently released report of ‘RemitSCOPE – Remittance markets and opportunities – Asia and the Pacific’, India was the largest remittance receiving country in the world.

According to the report, remittances to the Asia-Pacific region amounted to USD 256 billion last year.

A report said that India (USD 69 billion), China (USD 64 billion) and the Philippines (USD 33 billion) are the three largest remittance-receiving countries in the world in 2017.

3. Telecom Department approved Bharti Airtel and Telenor India Merger:

 

The merger of Norwegian telecom major’s India arm – Telenor India – with India’s leading carrier Bharti Airtel has been approved by the telecom department.

All licenses belonging to Telenor India and its liabilities have been transferred to Bharti Airtel by the telecom department.

The acquisition has been already approved by the Competition Commission of India, Securities & Exchange Board of India, the stock exchanges and National Company Law Tribunal.

4. RBI puts fresh lending restrictions on Allahabad Bank:

 

Reserve Bank of India has imposed lending restrictions to risky assets and raising the high-cost deposit in view of deteriorating financial health.

Reserve Bank of India took the similar action against state-run lender Dena Bank, which is under the Prompt Corrective Action(PCA) of the central bank.

The central bank said to the Allahabad Bank which come under the PCA mechanism, to restrict expansion of risk weighted average and reduce exposure to un-rated and high-risk advances.

5. Punjab National Bank posted biggest ever quarterly loss of 13,417 crores in Q4:

The Punjab National Bank for January-March period has posted largest ever quarterly loss of INR 13,416.91 crore, mainly on account of high provisioning for bad loans.

A staggering standalone profit of INR 261.90 crore has been also reported by the PNB bank in the Q4 of 2016-17.

6. RBI imposed penalty on Cooperative Bank:

RBI has imposed a penalty of INR 50,000 on Universal Co-operative Urban Bank Ltd, Mancherial, Telangana with respect to violations on loans and advances.

The Cooperative Bank had violated its directive and guidelines on loans and advances to directors and their relatives said by the apex bank in a release.

7. RBI imposed INR 5 crore fine on South Indian Bank:

 

Reserve Bank of India has slapped a penalty of INR 5 crore on South Indian Bank Ltd. for not following its rules on asset classification, know-you-customers (KYC) and treasury functioning.

Further, the bank is also pulled up for deficiencies in its compliances function and compliance culture.

8. Indian Economy projected to grow 7.6% in 2018-19 according to UN report:

According to a UN report, Indian economy is projected to grow 7.6% in fiscal year 2018-19, remaining the fastest growing economy in the world.

This is a substantial recovery from the 6.7% growth India registered in fiscal year 2017.

Science & Technology Current Events | Stay Advanced with Latest Inventions

1. ISRO developing environment-friendly propellant:

 

An environment-friendly propellant blend based on Hydroxylammonium Nitrate (HAN) is being developed by the Scientists at ISRO’ Liquid Propulsion Systems Centre (LPSC) to power satellites and spacecraft.

It is developing to replace conventional hydrazine fuel for future missions.

HAN-based monopropellant formulation consists of HAN, ammonium nitrate, methanol and water.

The methanol was added to reduce combustion instability and HAN was used for its capacity to control burn rate and lower freezing point of propellant.

2. President inaugurated Integrated Centre for Crisis Management for CBRN emergencies at BARC:

Integrated Centre for Crisis Management (ICCM) was inaugurated by President Ram Nath Kovind at Bhabha Atomic Research Centre (BARC) in Mumbai, Maharashtra.

ICCM is inaugurated to help the nation to respond more effectively to chemical, biological, radiological and nuclear (CBRN) emergencies.

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