Read current affairs online with GK Eduwrap. It covers the last week current affairs in a comprehensive manner ensuring you prepare confidently for the general awareness for bank exams.
National – Across the India
1. Minister of Railways Suresh Prabhu inaugurated the free Wi-Fi facility at 28 Railway Stations of Konkan Railway from Kudal Railway Station in Maharashtra.
Indian Railways has tied up with SYSCON/JOISTER for providing 2 Mbps peer-to-peer 24 hrs Free Wi-Fi bandwidth at 28 railway stations of Konkan Railway.
2. The State Government of Madhya Pradesh has put an indefinite ban on the sand excavation in the Narmada River.
The government has also set up a committee to suggest the scientific ways of mining the rivers.
3. Tejas Express, country’s first ultra-modern train has begun its first journey from Mumbai to Goa on 22nd May 2017.
The train have one executive AC chair car with seating capacity for 56 persons and 12 AC chair cars with 78 seats in each coach.
4. PM Narendra Modi laid the foundation stone for half a dozen projects worth Rs 993 crore related to development of Kandla port.
The projects for which foundation was laid include a convention centre named after Babasaheb Bhimrao Ambedkar.
Other projects include two cargo berths, a road over bridge, deployment of two mobile harbour cranes and mechanization of fertilizer handling facility at the port.
5. Dr. Mahesh Sharma, Minister of State (I/C) for Culture and Tourism inaugurated an exhibition “Return of the Three Stone Sculptures from Australia to India” in National Museum, Janpath New Delhi.
The exhibition is organized to mark the safe return of three stone sculptures (Seated Buddha, Worshippers of Buddha, Goddess Pratyangira) from Australia to India.
6. Environment Ministry along with the UN Environment OzonAction Compliance Assistance Programme, organized an “Ozone2Climate” Technology Roadshow in Agra.
This is the first time that the Ozone2Climate Technology Roadshow was organized as a part of the annual network meeting globally.
7. Union Power Minister Piyush Goyal launched the Saral Eindhan Vitaran Application (SEVA), developed in-house by Coal India Limited (CIL) for power sector consumers.
SEVA is a part of ‘Digital India’ initiative, which is aimed at increasing the Consumer Connect as well as the Transparency and Accountability in Coal dispatch.
8. Union Sports Minister Vijay Goel announced, “Adopt a Slum” – a new campaign to mark completion of three years of the Government.
The idea is to initiate developmental work in these slums and help the slum-dwellers in resolving various issues.
Goel has adopted Indira slum of Timarpur area under the campaign.
9. The Union Cabinet has approved the abolition of the 25-year-old Foreign Investment Promotion Board (FIPB). As per the New Mechanism, the followings changes will take place.
Those 11 sectors that require approval would be dealt directly by the concerned ministry.
In proposals related to security, the proposals will also need to require the approval of Home Ministry.
Those proposals which are presently pending before the FIPB will be sent back to the concerned ministries.
The FDI proposals above Rs 5,000 crore will continue to come under the purview of the Cabinet Committee on Economic Affairs (CCEA).
10. Sushma Swaraj, Prakash Javadekar, and Ravi Shankar Prasad jointly inaugurated the integration of E-Sanad with CBSE digital repository ‘Parinam Manjusha’ in New Delhi.
E Sanad is an e-service for online verification and attestation of documents of Indian citizens that has been integrated with Non- Tax Receipt Portal (NTRP) for enabling cashless payment.
11. The Union Cabinet has given its approval for allocating 2.5% of the Central Road Fund (CRF) for the development of the National Waterways.
The allocation will provide around Rs 2000 crore annually for the development and maintenance of the National Waterways.
According to the Inland Waterways Authority of India, the development of National Waterways would require Rs 25,000 crore till 2022-2023.
12. The Minister of State for Communications Manoj Sinha has launched three new initiatives, which are mentioned below.
BSNL’s satellite phone service: offered to government agencies in phase.
Pandit Deen Dayal Upadhyaya Sanchar Kaushal Vikas Pratisthan Scheme: the ministry will impart training to 10,000 people from 10 States/UTs in the first phase.
Deen Dayal Upadhyaya Telecom Skill Excellence Award has been instituted to recognize achievers and talents in Telecom sector.
13. Culture Minister Mahesh Sharma has launched Swachh Bharat app at the National Museum in New Delhi.
The app will enable visitors to report garbage on the premises of the ASI monuments across the country.
The devices installed in the monuments will be connected to this app using Bluetooth. The devices will have a range of around 30 metres.
14. PM Narendra Modi has inaugurated India’s longest river bridge – the Dhola-Sadia Bridge in Assam.
He has also renamed the bridge as Bhupen Hazarika Bridge.
The cost of the project is about Rs 2056 crores.
15. UP Chief Minister Yogi Adityanath launched a campaign to eradicate the deadly Japanese Encephalitis (JE) disease that claims the lives of hundreds of children every year in the state.
He launched a toll-free number 18001805544 to get or provide any information about encephalitis.
The government has fixed the target of immunization of above 88 lakhs 55 thousand children in the age group of 1 to 15 during the drive in the 38 targeted districts.
16. The Department of Industrial Policy and Promotion (DIPP) has amended the definition of a start-up.
As per the new definition, an entity will be considered as a Start-Up if its turnover is less than Rs 25 crore and has not completed seven years from the date of its incorporation/registration.
17. The Union Cabinet Chaired by Prime Minister has given its approval for a National Procurement Policy that gives preference to Make in India in government procurements.
The policy aims to maintain the balance between promoting ‘Make in India’ and ensuring timely, quality and value-for-money products for the procuring government entities.
18. PM Narendra Modi has laid the Foundation Stone of the Indian Agricultural Research Institute at Gogamukh in Assam’s Dhemaji district located on the Assam-Arunachal Pradesh border.
This will be the third Indian Agricultural Research Institute (IARI).
Apart from IARI in Delhi, the work on setting up of second IARI in Ranchi, Jharkhand has commenced.
19. The Ministry of Environment and Forests has come up with new regulations that ban the sale of cattle for slaughter.
The rules have been notified under Prevention of Cruelty to Animals Act 1960.
As per the new regulations, cattle bought cannot be resold within six months.
20. Election contestants have to declare their own and their spouse’s sources of earning in their contesting polls to bring more transparency.
The new rules also make it necessary for the poll contestants to specify whether they are Indian citizens or not as only the Indian nationals can contest the elections.
21. The Department of Industrial Policy and Promotion (DIPP) has been given back the power to grant licenses for defence manufacturing.
The power to grant manufacturing license with respect to the category of arms and ammunition and defence items under the Arms Act.
22. Maharashtra CM Devendra Fadnavis inaugurated India’s first multi-modal electric vehicle project and Ola electric charging station in Nagpur.
The city will have a fleet of 200 electric vehicles including taxis, buses, e-rickshaw, and autorickshaws, all of which will be fully owned by cab aggregator Ola.
23. Narendra Modi laid the foundation stone of a unit of the Delhi-based All India Institute of Medical Sciences (AIIMS) at Changsari, Assam.
The institute will be constructed at a cost of Rs 1,123 crores as part of the Pradhan Mantri Swasthya Suraksha Yojana.
24. India has become the second largest stainless-steel producer in the world after China.
The analysis is based on the data released by the ISSF.
India overtook Japan which was the second largest producer last year.
International – Across the Globe
1. The Jaipur Literature Festival was inaugurated in London to present a sumptuous showcase of South Asia’s literary heritage, oral and performing arts, books and ideas, dialogue and debate.
The British Library played host to the annual festival as a part of the wider UK-India Year of Culture celebrations.
2. Finland has agreed to host the 2017 Arctic Energy Summit as the first major event of their Arctic Council Chairmanship, which runs 2017 to 2019.
The Arctic Energy Summit was last held in Fairbanks in 2015.
The Summit will take place at Finlandia Hall, between 18th-20th September 2017.
3. The List of top 50 Luxury goods topped by Louis Vuitton named three Indian Companies: Gitanjali Gems, Titan and PC Jeweller in the list.
Gitanjali Gems Ltd was placed in the 30th rank, followed by Titan Company(31st) and PC Jeweller (44th) in the fourth annual Global Powers of Luxury Goodsreport.
4. The United Nations released a first draft nuclear ban treaty banning the possession and use of nuclear weapons, the draft being released in Geneva.
The treaty confirms that use of nuclear weapons is a violation of the International Humanitarian Law.
5. According to the reports released by the United Nations Monitoring centre, India ranks third highest globally in Internal Displacement Numbers.
It said that conflict, violence and disasters caused 31.1 million new internal displacements in 2016.
The highest displacements were recorded in China with 7.4 million people getting impacted, followed by the Philippines (5.9 million), India (2.4 million) and Indonesia (1.2 million).
6. The 3rd Intersessional Ministerial Meeting of the Regional Comprehensive Economic Partnership (RCEP) was held in Vietnam’s capital Hanoi.
The meeting was attended by 16 economic and trade ministers from the 10 member states of the ASEAN and its six partners including China, Australia, India, Japan, South Korea, New Zealand.
7. PM Narendra Modi called for the creation of an Asia-Africa growth corridor for the development of Africa.
The creation of the corridor was called at the 52nd Annual Meeting of African Development Bank (AfDB) at Mahatma Mandir in Gandhinagar, Gujarat.
The core theme of the Annual Meeting is ‘Transforming Agriculture for wealth creation in Africa’.
8. According to World Economic Forum’s UN-Habitat Data of the 10 most densely populated cities, Dhaka, with 44500 people per square metre, is placed at the first position.
Mumbai, with 31700 people/sq. Meter secured the second place while Kota is at number seven.
The 10 most densely populated cities are: Dhaka (1), Mumbai (2), Medellin (3), Manila (4), Casablanca (5), Lagos (6), Kota (7), Abuja (8), Singapore (9), Jakarta (10).
9. Nepal Prime Minister Pushpa Kamal Dahal ‘Prachanda’ resigned from his post.
Nepali Congress President Sher Bahadur Deuba will become the next Prime Minister of Nepal.
Pushpa Kamal was elected as the 39th Prime Minister of Nepal.
10. Lenin Moreno elected as President of Ecuador in Ecuador Presidential Elections 2017.
Engineer Jorge Glas will continue as Vice President.
Earlier, Moreno served as United Nations (UN) Special Envoy on Disability and Accessibility.
11. Indian nationals were issued the maximum number of skilled work visas to live and work in the UK in 2016.
Indians accounted for 58 per cent of the total skilled work visas granted last year- 53,863 of a total of 93,566.
Americans were the second largest community with 9,255 visas.
12. Egypt has blocked 21 media websites including the main website of Qatar-based Al-Jazeera news channel.
The 21 websites have been blocked inside Egypt for having content that supports terrorism and extremism.
13. The 43rd G7 Summit 2017 was held in Taormina (ME), Sicily, Italy from 26th May – 27th May 2017.
The summit focuses on: counter-terrorism, global economy and reduction of inequalities, foreign policy, security of citizens, and climate change.
European Council President Donald Tusk and European Commission President Jean-Claude Juncker represent the EU at the summit.
14. Indo-Thailand HADR Table Top Exercise 2017 was held in Chiang Mai, Thailand from 22th May to 26th May 2017 between the Indian Air Force and Royal Thailand Air Force (RTAF).
The aim of the bilateral exercise is to evolve SOPs for planning and executing relief missions during unforeseen natural calamities like Tsunami, earthquakes, cyclones, floods etc.
15. The NATO Leaders’ Meeting 2017 held at NATO’s new Headquarters in Belgium, Brussels.
The next summit will be held in Istanbul, Turkey.
16. Apple has opened its first store in Southeast Asia at Singapore upmarket shopping district.
Apple already has almost 500 stores globally with more than a million visitors daily.
Apart from Singapore, it has shops located in Hong Kong, China and Japan in Asia.
Sports & Athletics
1. German Alexander Zverev beat Serbia’s Novak Djokovic in the final of Association of Tennis Professionals (ATP) Masters 1000 Italian Open Title in Rome.
Zverev became the youngest winner of a Masters 1000 tournament at the age of 19.
The tournament is also known as Rome Masters and the Italian Championship.
2. Real Madrid won the Spanish league for the first time in five years and kept rival Barcelona from its third straight championship.
The team secured its 33rd league title with a 2-0 win at Malaga with goals by Cristiano Ronaldo and Karim Benzema.
3. The South Asian Junior Table Tennis Championship held in Mount Lavinia, near Colombia in Sri Lanka.
In a stunning performance, the paddlers from India have won all the 10 Gold Medals and 14 medals in this tournament.
In this championship, top-seeded Manav Thakkar won Junior Boys final; while Archana Girish Kamath won Junior Girls final.
4. Bengaluru FC team won the Federation Cup champions at the Barabati Stadium Cuttack, Odisha.
They defeated Mohun Bagan team.
5. Mumbai Indians has won the Indian Premier League Season-10 trophy by defeating Rising Pune Supergiant in the finals.
This was Mumbai Indians’ third IPL trophy in 10 editions. Highlights of the event are:
Orange Cap: David Warner (641 Runs).
Purple Cap: Bhuvneshwar Kumar (26 Wickets).
Emerging player of the season: Basil Thampi.
Fairplay award: Gujarat Lions.
Most Valuable Player of the season: Ben Stokes.
Man of the Final: Krunal Pandya.
6. N’Golo Kante named Player of the Year by the English Premier League.
The premier league player of the season is an annual association football award presented to the players in England.
7. Sweden won the Ice Hockey World Championships with a 2-1 victory over 2016 champions Canada in a dramatic penalty shootout.
It was Sweden’s 10th World title.
8. Indian-origin wrestler Jinder Mahal clinched the WWE Championship after beating Randy Orton at pay-per-view event Backlash.
He has become the second wrestler of Indian descent to win a world heavyweight championship in the promotion.
The Great Khali had won the now-defunct World Heavyweight Championship in 2007.
9. A 7-member High-Level Committee on Scouts and Guides has submitted its Final Report to Union Minister of Sports with various recommendations. These recommendations are mentioned below.
The constitution of an Enquiry Committee to take stock of complaints and grievances and submit its report.
Completely revamping of the Bharat Scout & Guides and Hindustan Scouts and Guides.
The need for streamlining the organizational set up of Bharat Scouts and Guides and Hindustan Scouts and Guides.
The nomination of government nominees on the Boards of both the organizations.
10. Hindustan Computers Limited hosted the HCL Asian Junior Tennis Championship 2017 on 29 May 2017.
Different players from 11 countries – Thailand, Taiwan, Japan, South Korea, Philippines, Hong-Kong, Malaysia, China, Sri Lanka, Iran, and India are participating in the Championship.
Awards & Recognition
1. Scientists at NASA have named a new organism a form of a bacteria discovered by them after former president and scientist APJ Abdul Kalam.
Scientists discovered the new bacteria on the filters of the International Space Station (ISS) and named it Solibacillus Kalamii.
2. Two Indian peacekeepers Rifleman Brijesh Thapa and Private Ravi Kumar will be among 117 military, police and civilian personnel to be honoured with a prestigious United Nations medal awarded posthumously.
They will be awarded for their courage and sacrifice in the line of duty.
3. An Indian boy Prashant Ranganathan has won the world’s largest pre-college science competition in the US in the environmental engineering category for his project on biodegradation of pesticides.
Prashant along with over 20 high school students from various parts of India, participated in the Intel International Science and Engineering Fair.
4. Anshu Jamsenpa became the first woman to claim, “dual ascent” of Mount Everest twice within a span of five days.
The 37-year-old is also the first Indian woman to climb Mount Everest for the fifth time.
She broke the previous record of Nepal’s Chhurim Sherpa, who had climbed Mt Everest twice in a week in 2012.
5. Drake becomes the biggest winner at the 2017 Billboard Music Award with a win of total 13 awards in a year breaking past record of Adele of 12 awards. Here is the list of some winners.
|Top New Artist||Twenty-One Pilots|
|Billboard Chart Achievement Award presented by Xfinity||Drake|
|Top Male Artist||Drake|
|Top Female Artist||Beyonce|
|Top Duo/ Group||Twenty-One Pilots|
|Top Billboard 200 Artist||Drake|
|Top Hot 100 Artist||Drake|
|Top Song Sales Artist||Drake|
6. Rohan Chakravarty, an Indian Wildlife and environment cartoonist won the World Wide Fund for Nature (WWF) International President’s Award.
The award ceremony was held in Manado, Indonesia.
Chakravarty cartoons under the banner of Green Humour mainly emphasis on environmental issues honored with the award.
7. Jio Mumbai Academy of the Moving Image (MAMI) film festival announced a new award category for digital content for this year’s festival to held from 12th-18th October.
This award will encourage young talent to break the boundaries of their creative ideas and take Indian Cinemas to new and greater heights especially in the digital space.
The winners will receive a cash prize of Rs 2.5 lakh.
8. The Advertising Standards Council of India (ASCI) has bagged the Gold Award for their Mobile App “ASCIonline” at the Global EASA Best Practice Awards 2016 held in Athens.
ASCI was awarded to receive consumer complaints against false advertisement.
9. India off-spinner Ravichandran Ashwin won the coveted International Cricketer of the Year award at the CEAT Cricket Rating (CCR) International awards 2017.
Ashwin has taken 99 wickets in the past 12 months.
Batsman Shubhman Gill has been awarded with the Young Player of the Year award for his stellar performance during the India-England U-19 ODI series.
10. Former AIIMS director M C Misra has been awarded the honorary fellowship of the prestigious Royal College of Surgeons of Edinburgh, a first for an Indian doctor in the last five years.
He is credited with the creation of the new departments of Rheumatology and Burns and Plastic Surgery.
He also played a significant role in the Digital AIIMS project.
11. Munnar, the popular hill station in Kerala won the award for ‘Best Destination for Romance‘ at the Lonely Planet Magazine Indian Travel Awards 2017.
Bala Kiran, Director of Kerala Tourism received the award.
The hilly Munnar town in Idukki district is famous for its romantic cottages, cloudy mountains, lively tea gardens, green valleys, waterfalls
12. Entrepreneurship Development Institute of India (EDII), Gujarat and Indian Tobacco Company (ITC) Limited won the Porter Prize 2017.
ITC won the prize for Excellence in Corporate Governance and Integration and for its contribution in the category Creating Shared Value.
EDII cleared a three-stage comprehensive evaluation process and emerged as a winner in the category of education and training.
13. Taj Mahal has made it to the top 10 landmarks in the world by securing fifth position in the list.
It is the only Indian monument to figure in the world’s top 10 Travellers’ Choice awards for Landmarks.
Angkor Wat in Siem Reap (Cambodia) topped the list followed by Sheikh Zayed Grand Mosque Center in Abu Dhabi (UAE), Mezquita Cathedral de Cordoba in Cordoba (Spain) and St Peter’s Basilica in Vatican City (Italy).
Books & Authors
1. The Union Home Minister, Shri Rajnath Singh has released the book ‘India 2017 Yearbook’ authored by the Union Home Secretary, Shri Rajiv Mehrishi.
The book was published by the Mc Graw Hill Education India.
2. Union Minister Kiran Rijiju unveiled a philosophical novel on God titled “Confessions of a dying mind: the blind faith of atheism” in New Delhi.
The book is written by IAS officer Hualianlal Guite.
The book is published by UK Based Bloomsbury Publishing.
3. Prime Minister Narendra Modi’s radio broadcast programme Mann ki Baat will be available in the form of a book now.
Japanese Prime Minister Shinzo Abe has written the preface for Mann Ki Baat – A Social Revolution on Radio, which will be presented to the President.
The book is authored by NetCore founder and part-time member of the UIDAI Rajesh Jain.
4. Pranab Mukherjee will receive the first copy of book ‘Marching with a Billion- Analysing Narendra Modi’s Government at Midterm’ from Smt. Sumitra Mahajan, Speaker Lok Sabha.
The book was written by journalist Shri Uday Mahurkar analyses the monumental changes that Shri Narendra Modi has brought on multiple fronts.
5. A new book “Winning like Virat: Think & Succeed like Kohli” unravels the secrets of the Virat Kohli’s consistent form, while attempting to decode his philosophy towards life, authored by Abhirup Bhattacharya.
Appointments & Resignations
1. Iran’s President Hassan Rouhani has been re-elected with an emphatic victory.
Out of more than 40 million votes cast, he received 57%, defeating his main rival, a conservative cleric.
2. Saurabh Agrawal was appointed as the Group Chief Financial Officer (CFO) of the Tata Sons.
He is currently the head of the strategy with the Aditya Birla Group.
As group CFO at Tata Sons, he will have to focus on bringing back some of the loss-making businesses on track.
3. The Member States of WHO elected Dr. Tedros Adhanom Ghebreyesus as the new Director-General of WHO.
He was nominated by the Government of Ethiopia, and will begin his five-year term on 1st July 2017.
He will succeed Dr. Margaret Chan.
4. Tata Sons Ltd appointed Shuva Mandal as group general counsel with effect from July 2017.
He will succeed Bharat Vasani, who will continue with the group as Legal Adviser to the Chairman’s office.
5. Paytm Payment Bank appointed three members PV Bhaskar, Ash Lilani, GS Sundarajan as the new board members.
Paytm founder and CEO Vijay Shekhar Sharma will act as a non-executive chairman.
Paytm Payments Bank CEO Renu Satti will also serve as a director on the bank’s board.
6. Olympic silver medallist P V Sindhu became one of the members of the Badminton World Federation (BWF).
Before Sindhu, Saina Nehwal was formal to a post to the commission.
7. Sanjay Mitra took charge as New Defence Secretary.
He replaces G. Mohan Kumar.
Mitra is a 1982 batch IAS officer of the West Bengal cadre.
8. The Union government appointed five members to fill the vacant seats in the National Commission for Minorities (NCM).
Social activist Gayarul Hasan from Uttar Pradesh will reportedly be made the new chairperson of the commission.
The other members include Vada Dasturji Khurshed, chief priest of Udvada Athornan Anjuman, BJP leader from Kerala George Kurian, Jain representative from Gujarat Sunil Singhi and former Maharashtra minister Sulekha Kumbhare.
9. Google’s vice-president for South East Asia and India, Rajan Anandan appointed as new chairman of Internet and Mobile Association of India (IAMAI).
He replaces Kunal Shah, FreeCharge’s co-founder and chief executive officer.
MakeMyTrip Chairman & Group CEO Deep Kalra will be the vice-chairman.
Facebook’s managing director for India & South Asia, Umang Bedi will be the new treasurer.
Subho Ray will continue to be the president of IAMAI.
10. The Department of Personnel and Training (DoPT) has appointed Anurag Tripathy, as new Secretary of Central Board of Secondary Education (CBSE).
He will hold the post for a period of five years.
11. United States Senate has confirmed Amul Thapar as a judge to the Cincinnati-based Sixth Circuit Court of Appeals.
With this appointment, he has become only the second Indian-American judge of an appeals court.
12. Syed Ghayorul Hasan Rizvi assumed charge of the Chairman of the National Commission for Minorities in New Delhi.
He served as Chairman, U.P Minority Finance Development Corporation Ltd.
13. Tapan Ray was appointed as the next Secretary of Department of Economic Affairs, under the Ministry of Finance from 1st June 2017.
He will replace Shaktikanta Das who is retiring.
14. Jaideep Mazumdar has been appointed as the next Ambassador of India to the Philippines.
The 1989 batch IFS officer is presently Joint Secretary in the Ministry of External Affairs.
Economics & Banking GK
1. DBS Bank India has expanded its bancassurance partnerships with two new partners in Tata AIA Life and Birla Sun Life, in addition to Aviva India Life.
With this move, DBS Bank has become the first bank in India to adopt a new open architecture model with three life insurers on a single platform.
2. Federal Bank, in association with Geojit, has launched a new trading platform called “Selfie” for customers.
The trading platform will give its users absolute control over their investments with timely research inputs to make sound investment decisions.
3. HDFC Life announced the launch of India’s first life insurance email bot named SPOK.
It can automatically read, understand, categorize, prioritize and respond to customer emails that are sent to HDFC Life, within milliseconds.
4. The Reserve Bank of India is set to reconstitute Oversight Committee to operationalize the banking ordinance.
The existing Oversight Committee was constituted by the Indian Banks’ Association (IBA).
The move is aimed at containing the bad loans which have reached to over Rs 8 lakhs crore.
5. Paytm has rolled out its Payments Bank operations by launching its first physical branch in Noida.
With this launch, there are three payments bank operational in the country, the other two being Airtel Payments Bank Ltd and India Post Payments Bank Ltd.
As a Payments Bank, Paytm will be able to accept deposits upto Rs 1 lakh per customer in wallet and savings/current accounts.
6. The Union Finance Ministry announced that the taxation on entertainment, cable and DTH services will come down under the GST regime.
Under GST, only the taxes levied by a Panchayat or Municipality on entertainments and amusements will continue.
The Entertainment Services like events or cinematography films in cinema theatres will attract 28 percent GST with effect from 1st July 2017.
7. Bank of Baroda and Indian Farmers Fertilizer Cooperative Limited (IFFCO) rolled out their first set of co-branded debit cards for farmers as part of a novel initiative to push digitalisation and cashless economy.
Two lakh co-branded debit cards will be issued initially to the farmers beginning with the States of Uttar Pradesh, Bihar, Rajasthan and Madhya Pradesh.
8. HDFC Ltd is the only Indian company to be named among the top 10 consumer financial services companies in the world.
American Express topped the list, followed by Capital One Financial and Visa in the second and third place, respectively.
9. State Bank of India (SBI) has launched a national hackathon Code For India for developers, start-ups and students to come up with innovative ideas and solutions for the banking sector.
It will focus on the business value driven by technologies like predictive analytics, fin-tech/blockchain, digital payments, IOT, artificial intelligence, machine learning, BOTS and robotic process automation.
10. India retained its top rank of being the world’s premier greenfield FDI investment destination for the second consecutive year, attracting $62.3 billion in 2016, says a report.
India has remained ahead of China and the US as far as FDI inflows were concerned in the last year.
11. Bharat Heavy Electricals Limited (BHEL) commissioned a 270-megawatt (MW) thermal unit in Maharashtra.
The unit was commissioned at Parli Thermal Power Station (TPS), located in Beed district in the Marathwada region of Maharashtra and commissioned 16,000 MW of power generation capacity.
12. Reserve Bank of India decided to permit all licensed cooperative banks having their own ATM network to issue semi-closed prepaid payment instruments (PPI)s like mobile wallets.
The notification enlists strict norms and conditions to be followed by cooperative banks before permitting them to issue wallets for utility bill payments and other activities up to a limit of Rs 10,000.
13. Reliance Industries Ltd (RIL), ranked 106 the highest ranked Indian company in the list of Forbes 15th annual ‘Global 2000’ list for 2017.
RIL is followed by SBI, ranked 244 this year and state-run oil explorer ONGC, ranked No. 246.
Bills – New & Amendments
1. The Union Cabinet has decided to amend the Banking Regulation Act to expedite the resolution of the Rs. 9.64 trillion stressed assets choking the Indian banking system.
Two new sections “35AA and 35AB” are inserted in the Banking Regulation (Amendment) Ordinance, 2017.
Memorandum of Understanding (MoU)
1. Karnataka Bank Ltd has signed a MoU with Life Insurance Corporation (LIC) of India for selling life insurance products of LIC.
The bank signed the corporate agency agreement with LIC in Mangaluru.
With this MoU, the bank will be able to provide a vast choice of life insurance products to its customers across all its 769 branches.
2. 6 Members of Gulf Cooperation Council and the USA have signed an MoU in Riyadh to curb financing of terror organizations like Lashkar-e-Taiba, the Haqqani network, the Taliban.
The MoU was signed between US and Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.
According to the MoU, the signatory countries intend to identify, track and share information regarding terrorist
3. IIT Kharagpur’s Rekhi Centre of Excellence for the Science of Happiness has signed an MoU with Madhya Pradesh government ‘Rajya Anandam Sansthan’.
The MoU was signed to collaborate on the development of a Happiness Index for measuring the well-being of the residents of the state.
4. The Central Board of Direct Taxes (CBDT) signed two Unilateral Advance Pricing Agreements (APA) with Indian taxpayers.
Among these two agreements, one also has a Rollback Provision.
The two APAs signed pertain to chip design and development of embedded software and Information technology sectors of the economy.
5. Karnataka Bank entered into a distribution agreement to sell mutual fund products of HDFC Capital Asset Management Limited during exchanged the memorandum of understanding (MoU) in Mangaluru, Karnataka.
Investment in mutual funds will provide an opportunity to those customers who are uncomfortable about investing directly in stock markets.
6. The Rajasthan government signed an MoUs worth over Rs 955 crore at the Global Rajasthan Agritech Meet (GRAM).
The 21 MoUs signed are expected to provide direct employment to 9,488 people and indirect employment to 17,850 people, according to the state government.
7. The Union Cabinet approved the signing of a MoU between India and Spain on cooperation in the field of Organ Transplant Services.
The agreement would enhance bilateral cooperation between two nations in the field of organ and tissue procurement and transplantation.
Science & Technology
1. Researchers have invented a technique that types Braille in real time and helps deaf-blind people “watch” television without intermediaries.
The technique developed under PervasiveSUB Project compiles all the subtitles of television channels and sends them to a central server which forwards them to smartphones or tablets.
2. Astronomers using the Sloan Digital Sky Survey (SDSS) have created the first map of the large-scale structure of the universe based entirely on the positions of quasars.
Quasars are incredibly bright and distant points of light powered by super-massive black holes.
3. The ISRO and the NASA have collaborated to make an Earth-imaging satellite called NASA-ISRO Synthetic Aperture Radar (NISAR).
It will help scientists to monitor Earth and is scheduled to be launched in 2021.
The estimated cost of the radar is over 1.5 billion dollars and it could possibly be the world’s most expensive Earth imaging satellite.
4. Scientists have developed a way in which chemical droplets can store information in a one-bit chemical memory unit called The Chit.
As the chit allows for chemical computing, all the components it uses are chemical.
According to researchers, this brand-new type of computing could create an entirely new way to store, read, and transfer information.
5. Google’s Alpha Go Artificial Intelligence program defeated a Chinese grand master at the ancient board game Go.
AlphaGo’s success is considered the most significant yet for AI due to the complexity of Go, which has an incomputable number of move options and puts a premium on human-like “intuition”, instinct and the ability to learn.
6. The second prototype of the Light Utility Helicopter (LUH PT2), developed by Hindustan Aeronautics Limited (HAL), successfully completed its first flight for 22 minutes in Bengaluru.
LUH is being designed to fly 350 km non-stop at a speed of 220 kilometers per hour.
The aircraft is capable of reaching a maximum height of 6.5 Km and can carry a payload of 400 kg.
It will replace the Chetak and Cheetah helicopters that have been in use for more than three decades.
7. Airlander 10, the world’s largest aircraft has successfully completed a test flight by flying for a total of 180 minutes in Cardington, United Kingdom.
It is hybrid ship i.e. it is a partly plane and partly airship filled with helium gas.
It is 92-metre-long and 43.5m wide. It can fly at up to 6,100 meters and reach speeds of 148 kilometers per hour.
8. SpaceX will organize Hyperloop Pod Competition II in August 2017 at its headquarters in Hawthorne, California.
The competition will see the participation of 24 teams from across the world including a team from India’s BITS Pilani.
BITS Pilani’s team will be participating in the competition with name Hyperloop India.
9. NASA’s Juno spacecraft has discovered Earth-sized cyclones at the poles of the Jupiter.
It showed the presence of the storm systems that travel deep into the heart of the planet.
Both the poles of the Jupiter were found to be covered with Earth-sized swirling storms which are densely clustered and rubbing together.
1. Every year 22nd May is observed as International Day for Biodiversity or World Biodiversity Day.
The International Day for Biological Diversity falls within the scope of the UN Post-2015 Development Agenda’s Sustainable Development Goals.
The theme for 2017 for World Biodiversity Day is Biodiversity and Sustainable Tourism.
2. World Day for Cultural Diversity for Dialogue and Development is observed on 21st May every year.
It aims to help people learn about the importance of cultural diversity and harmony.
The theme 2017 is Celebrating Cultural Diversity.
3. National Anti-Terrorism Day was observed on 21st May across the country to raise the awareness of the danger of terrorism and violence.
The day is celebrated to commemorate the death anniversary of former Prime minister Rajiv Gandhi.
On this day, in 1991, Rajiv Gandhi was assassinated by a suicide squad of LTTE, while attending a rally in Sriperumbudur, Tamil Nadu.
4. World Turtle Day is observed on 23rd May every year.
The observance aimed at protecting turtles and tortoises and their rapidly disappearing habitats across the world.
Recent Notable Deaths
1. Mathunny Mathews popularly known as ‘Toyota’ Sunny, passed away at in Qadisiya in Kuwait.
Mathews had played a key role in the safe evacuation of 1.7 lakh Indian nationals from the Emirate after Saddam Hussein’s Iraqi forces invaded Kuwait in 1990.
Mathunny Mathews was the inspiration for ‘Airlift’, a Bollywood movie in which Akshay Kumar depicted Ranjit Katyal.
2. Actor Sir Roger Moore, best known for playing James Bond, has died due to cancer.
He played the famous spy in seven Bond films including Live and Let Die and A View to a Kill.
Sir Roger was also well known for his humanitarian work – he was introduced to UNICEF by the late Audrey Hepburn and was appointed as a goodwill ambassador in 1991.
3. Kanwar Pal Singh Gill, one of India’s most celebrated cops, passed away in New Delhi.
He was popularly known as the ‘Lion of Punjab’ and ‘Super Cop’, Gill has also been an advisor to Gujarat and Chhattisgarh governments, a hockey administrator, and a prolific commentator on security issues.
He was honoured with Padma Shri in 1989 for his outstanding work as a civil servant.
4. Controversial godman, Chandraswami, passed away due to multi-organ failure in New Delhi.
His real name was Nemi Chand.
Important Abbreviations Used in this Article
|CBSE||Central Board Secondary Education|
|ISSF||International Stainless-Steel Forum|
|NATO||North Atlantic Treaty Organization|
|UIDAI||Unique Identification Authority of India|
|ISRO||Indian Space Research Organization|
|HDFC||Housing Development Finance Corporation|
|FDI||Foreign Direct Investment|
|LTTE||Liberation of Tamil Tigers Eelam|
|NASA||National Aeronautics and Space Administration|
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