Current Affairs Last Week – GK Eduwrap – 8-May-2017 to 13-May-2017

GK Eduwrap Weekly 8th May-13th May 2017



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.




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National – Across the India

1. The strategic anti-Naxal operations command headquarters of the Central Reserve Police Force (CRPF) has been shifted back from Kolkata to Raipur.


Central Reserve Police Force


  The recent decision comes at the backdrop of ambush in Sukma district that killed 37 jawans of the paramilitary force.




2. Under the Sansad Adarsh Gram Yojna Venkayya Naidu has adopted Titarvasa village in Jhalrapatan, Rajasthan.


  Only 20 of the Lok Sabha and 4 MPs from the state government has adopted the village in Phase II of Sansad Adarsh Gram Yojna.




3. Union Minister Nitin Gadkari has inaugurated India’s First Integrated Bio‐refinery for Renewable Fuels & Chemicals at Rahu in Pune district of Maharashtra.


 India’s First Integrated Bio‐refinery


  It is responsible for producing ethanol from a variety of biomass.


  The demonstration plant has been built by Praj industries.




4. Maharashtra government imposed a ban on sale of High in Fat, Salt and Sugar (HFSS) food at school canteens across the state.


  A government Resolution issued gives a list of 12 categories of foods which covers potato chips, pizza, burger, noodles, carbonated soft drinks, cakes, biscuit, buns, pastries etc. which cannot be sold.




5. The Haryana government has decided to gather a detailed data of every resident and issue a sleek identity for every house in the state.


Haryana Government


  The objective is to get details of land holdings and status of facilities such as social security pension, scholarship, MGNREGA, loans and LPG connection.


  The exercise is to be launched on 15th June 2017.




6. Union Home Minister Shri Rajnath Singh carried out a review of the Left Wing Extremism (LWE) situation in the ten LWE affected States.


  He explained about operational strategy ‘SAMADHAN’ to fight Left Wing Extremism.




7. The Ministry of Home Affairs has asked all the state governments to link prisons with courts through video conferencing.


Ministry of Home Affairs


  The aim is to expedite trials and to save costs of escorting undertrials to courts.




8. The Supreme Court ordered initiation of criminal conspiracy charges against Rashtriya Janata Dal Chief Lalu Prasad in the Rs 900 crore fodder scam case.


  Other accused of the case include Jagannath Mishra and ex-top bureaucrat Sajal Chakraborty.




9. The Calcutta High Court Judge ‘C S Karnan’ is the first judge who has been sent to prison for his scandalous remarks. The Supreme Court has banned media from publishing any orders passed by Mr. Karan and took a strict action against him.


Judge C S Karnan


  Justice Karnan had levelled allegations against several judges of the Madras High Court and the apex court and stubbornly refused to take the allegations back.


  To make things worse, he had passed orders against the seventh judge bench, which was hearing his contempt case.




10. The government has set up a task force headed by NITI Aayog vice-chairman Arvind Panagariya to come up with a methodology to generate timely and reliable employment data.


  The Prime Minister Narendra Modi himself has initiated the process and has asked the task force to submit its recommendations at the earliest.




11. PM Narendra Modi and Chief Justice J S Khehar launched Integrated Court Management Information System scheme for complete digitization of litigation in all courts, which in the first phase promises paperless filing of appeals in the Supreme Court from 3rd July 2017.


Supreme Court will go Paperless


  Under the scheme, once a petition was filed in a court, there was no need to replicate the paper work before each appellate court.




12. The Home Ministry has instructed 5,845 Non-Government Organizations (NGOs) to open their accounts in banks having core banking facilities.


  The NGOs are also required to furnish the account details for real time access of security agencies in case of any discrepancy.


  The move is aimed at checking “errant” NGOs especially those organizations receiving foreign funding.




13. Discovery Communications plans to launch Discovery JEET, a new Hindi entertainment channel across India that will be started by the end of 2017.


Discovery JEET


  After its launch, the channel will be airing a 65-episode scripted biopic series on Baba Ramdev with title Swami Baba Ramdev: The Untold Story.




14. A five-judge bench headed by Chief Justice of India JS Khehar has begun hearing petitions challenging the practice of triple talaq.


  The lead petition has been titled Quest for Equality vs Jamiat Ulama-i-Hind.


  The Supreme Court will complete hearing of the petitions before 19th May.




15. To promote equal opportunities amongst all genders, Kochi Metro will employ 23 members from the transgender community.


Kochi Metro Rail Limited


  These 23 workers will be a part of the 530 Kudumbasree workers to be employed at 11 stations in the Kochi Metro.




16. The Income Tax department launched a new e-facility to link a person’s Aadhaar with the Permanent Account Number (PAN).


  The department urged people to ensure that the date of birth and gender in PAN and Aadhaar are exactly the same, to ensure linkage without failure.


  Under the Finance Act 2017, it is mandatory for taxpayers to quote Aadhaar or enrolment ID of the Aadhaar application form for filing income tax returns (ITR).




17. Indian Army has planned to re-introduce cordon and search operations (CASO) as a part of its counter-terrorism operations after a gap of 15 years.




  The major objective behind the reintroduction of combing operations is to bring the situation in the Kashmir Valley under control.




18. According to the 2016 Indian Exclusion Report (IXR) Dalits, Adivasis and Muslims continue to remain the worst-hit communities in terms of exclusion from access to public goods.


  The report was released by the Centre for Equity Studies (CES).


  The 2016 IXR Report determines exclusion by taking into account four public goods, namely, pensions for the elderly, digital access, agricultural land, and legal justice for undertrials.




19. Radha Mohan Singh, Union Minister for Agriculture and Farmers Welfare, launched e-Krishi Samvad at Krishi Bhawan.


e-Krishi Samvad


  Now people can directly connect to the ICAR website and get the appropriate solutions from the subject matter specialists and institutes through web or SMS.




20. The Science Express is 16 coach AC mobile train science exhibition of Department of Science & Technology (DST).


Science Express Climate Change Special


  The objective of the Express is to arouse interest of the young people in the field of science and technology.




21. India’s first electric radio cabs will be launched in Nagpur from on 26th May 2017.


  The pilot project will see around 200 e-cabs in Nagpur with the local body to provide for the charging stations across the city.




22. The Union Public Service Commission (UPSC) has decided to share online scores of candidates taking competitive exams to boost hiring by the private sector.


Union Public Service Commission


  The scores of the candidates taking part in the competitive exams will be linked to the Integrated Information System for Public Recruitment Agencies.


  The scores made available on the website will act as a useful database for other employers to identify good, employable candidates.




SSC CHSL Results 2017, LDC DEO (10+2) Cut-offs and Scores





International – Across the Globe



1. Pro-European centrist Emmanuel Macron resoundingly won France’s landmark presidential election.


Emmanuel Macron


  He has won between 65.5 per cent and 66.1 per cent of ballots ahead of Le Pen on between 33.9 per cent and 34.5 per cent.




2. India organized Tagore Cultural Festival in Egypt to mark the 156th birth anniversary of Rabindranath Tagore from 8th-12th May 2017.


  The Festival was organized by the Maulana Azad Centre for Indian Culture (MACIC), which is the cultural wing of the Indian Embassy in Cairo.


  The festival featured a dance show, film screening, a play and painting competition.




3. India has been unanimously elected as the President of the UN-Habitat after 10 years.


India-President of the UN-Habitat


  Venkaiah Naidu will chair the four-day meeting of the 58-member Governing Council of UN-Habitat in Nairobi, Kenya.


  Naidu will preside over the deliberations of the Governing Council of UN-Habitat for the next two years.




4. India and Japan has decided to strengthen their military cooperation and hopes to pursue a strategic partnership for ensuring regional peace and stability.


  The Malabar trilateral exercise between Japan, the U.S. and India is slated to be held in the Bay of Bengal from 10th July 2017.




5. Jordan and United States make annual military exercises with the extensive troops to strengthen threats against terrorism.


Jordan and United States


  It would include border security, cyber defence, and command and control exercises.




6. India and Australia to hold their 2nd bilateral naval exercise off the coast of Western Australia in June.


  Look Back - The first-ever Bilateral Naval Exercise in between India and Australia, called AUSINDEX, was held in September 2015 in the Bay of Bengal.




7. India has decided to replace the Maitri research station in Antarctica with a new one in the next three to four years.


Maitri research station


  The country is also drafting laws to safeguard its interest in Antarctica and is poised to expand its research activity in the coldest continent.


 India does not have laws for Antarctica and is currently governed by international laws.




8. South Korea’s presidential election has been won by Moon Jae-in, a liberal who favors a more open policy towards North Korea.


  Moon, the Democratic Party’s candidate to replace ousted President Park Geun-hye, was declared the winner by the country’s National Election Commission.


  With 100% of the votes counted, Moon won with 41.08 %, the commission said.




9. PM Narendra Modi attended the biggest Buddhist festival International Day of Vesak in Colombo, Sri Lanka as its chief guest.


International Day of Vesak


  The celebrations were held from 12th-14th May 2017.


  It includes an International Buddhist Conference that would witness the participation of over 400 delegates from more than 100 countries.




10. The 29th India–Indonesia CORPAT has commenced at Port Blair under the aegis of Andaman and Nicobar Command.


  The bilateral exercise is scheduled to be held from 9th to 25th May.


  The bilateral exercise aims to enhance mutual understanding and inter–operability between the two navies.




11. India and Russia agreed to work closely in various sectors, including security, nuclear energy, and disaster management.


 India and Russia


  The decision was taken during Russian Deputy Prime Minister Dimitry Rogozin’s visit to India to attend India-Russia Inter-Governmental Commission (IRIGC-TEC) meeting.




12. India has protested the participation of Canadian Prime Minister Justin Trudeau at Khalsa Day in Toronto.


  The Khalsa Day event was organized to mark the Sikh new year.


  Trudeau has become the first Canadian PM to attend the ‘Khalsa Day’ event in a decade since Paul Martin in 2005.




13. PM Narendra Modi has inaugurated a hospital in Dickoya in Central Province of Sri Lanka, built with Indian assistance.


PM inaugurated hospital in Dickoya


  Prime Minister later addressed a large gathering of Indian Origin Tamils at Norwood.


  He also met representatives of the Ceylon Workers Congress, and the Tamil Progressive Alliance.




14. 19th Session of India-Italy Joint Commission for Economic Cooperation was held during 11th – 12th May 2017 in Rome.


  Both Sides reiterated the importance of the JCEC towards the development of bilateral economic and trade relations through facilitating dialogue and enhancing cooperation on a wide range of issues of mutual interest.





Sports & Athletics



1. India’s Squash player Vikram Malhotra won his fifth PSA title after beating Egypt’s Youssef Ibrahim in the final of the Abu Dhabi Open.


Vikram Malhotra


  The US-based Indian won 6-11 11-4 11-3 9-11 13-11 against his opponent.




2. Great Britain has won the gold medal the Sultan Azlan Shah Hockey tournament by beating Australia by 4-3 in the finals.


  India has won bronze model beating New Zealand by 4-0.




3. Olive Ridley turtles have been chosen as the Mascot for the 22nd Asian Athletics Championship.


Olive Ridley turtles


  The event is scheduled to be held at the Kalinga Stadium Odisha from 6th-9th July 2017.


  Around 600 athletes including 20 world champions of 45 countries will participate in the international event.




4. Devender Singh becomes second Indian to be qualified for the World Championships in London.


  He won the Indian Grand Prix first leg with a throw of 84.57m, meeting the qualifying mark of 83m.


  Neeraj Chopra was the first Indian javelin thrower to qualify for the London Worlds.




5. BCCI announced the 15-man Indian squad which will take part in ICC Champions Trophy 2017 to be held in England. The Indian squad of ICC Champions Trophy 2017 includes:


ICC Champions Trophy 2017


  Virat Kohli (Captain), Shikhar Dhawan, Rohit Sharma, Ajinkya Rahane, Mahendra Singh Dhoni (wk), Yuvraj Singh, Kedar Jadhav, Hardik Pandya, R Ashwin, Ravindra Jadeja, Mohammad Shami, Umesh Yadav, Bhuvneshwar Kumar, Jasprit Bumrah, Manish Pandey.




6. The National Basketball Association (NBA) has opened its first academy in India to help the sport become more popular in the country.


  An elite basketball training center at Jaypee Greens Integrated Sports Complex in Greater Noida was officially thrown open for the upcoming male and female talent of the country.


  Twenty-one elite male prospects, who were selected following a three-month nationwide talent search, will receive scholarships and training at NBA Academy India.




7. Former India captain Jhulan Goswami has surpassed Australian Cathryn Fitzpatrick to become the leading wicket-taker in Women’s One-Day International (ODI) cricket, taking her haul to 181 wickets from 153 outings.


Jhulan Goswami


  The 34-year-old pacer took three wickets against hosts South Africa during the ongoing Women’s Quadrangular Series to achieve the landmark.


  With 271 International wickets (Tests, ODIs and T20I), Goswami, who was once the fastest bowler in women’s cricket has been the mainstay of India women bowling unit since her debut in 2002.




8. Former Indian captain Sourav Ganguly was named skipper of Cricket Australia’s Greatest Champions Trophy XI, which also features ex-Indian captain Rahul Dravid as wicketkeeper.


  The two are the only Indians in the team, which does not include Sachin Tendulkar.


  The team features three Australians, including former players Damien Martyn, Glenn McGrath and Shane Watson.




9. Harpreet Singh bagged a bronze medal in Greco-Roman 80kg category at Asian Wrestling Championship.


 Harpreet Singh


  He defeated Junjie Na of China by 3-2.




10. Chelsea have been crowned 2016-17 Premier League champions after beating West Bromwich Albion 1-0 at the Hawthorns.


  Substitute Michy Batshuayi’s dramatic 82nd-minute winner gave Chelsea the Premier League.




11. Sakshi Malik, Vinesh Phogat and Divya Kakran have won silver medals at the Asian Wrestling Championship at the KD Jadhav Stadium in New Delhi.


Sakshi Malik, Vinesh Phogat and Divya Kakran


  Vinesh and Sakshi has won medals in the 55kg and 60kg categories respectively.


  Kakran won a silver medal in the 69kg category.





Awards & Recognition



1. The 29th edition of the Sunday Times Rich List 2017 released the names of UK’s 1000 wealthiest people including 40 Indian-born citizens.


Times Rich List 2017


  Hinduja Brothers Srichand and Gopichand have topped the list to become the top of 134 billionaires in the country.

  The second place in the list was allotted to the Ukrainian businessman Len Blavatnik.

  The Mumbai-born David and Simon Reuben has been placed at the third position in this year’s list with a net estimate of approximately 14 billion pounds.

  The famous steel tycoon Lakshmi Mittal has been placed at the fourth position.




2. Former cricketer Sachin Tendulkar has been awarded The Asian Fellowship Award. Other winners included:


Category Winner
Outstanding achievement in sport Chinese snooker player Ding Junhui
Outstanding achievement in television Journalist Krishnan Guru-Murthy
Philanthropist of the year British Doctor Jack Preger
Outstanding contribution to the community Sir Harpal Kumar
Business leader of the year Ajay Banga
Entrepreneur of the year award Masayoshi Son
Social entrepreneur of the year award Nicha Dutt
Outstanding achievement in science & technology Demis Hassabis
Outstanding achievement in music Adnan Sami
Rising star of the year Sunny Pawar




3. Three Indian Scientist have been elected as the Fellows of The Royal Society for their outstanding contributions to science.


Fellows of The Royal Society


  Krishna Chatterjee from Cambridge University has been recognized for his discoveries of genetic disorders of thyroid gland formation, regulation of hormone synthesis and hormone action.

  Subhash Khot from New York University is a theoretical computer scientist who is known for his definition of the “Unique Games” problem.

  Yadvinder Malhi from Oxford University is an ecosystem ecologist who is recognized for his works on understanding the functioning of terrestrial ecosystems.




4. SS Rajamouli’s Baahubali 2: The Conclusion became the first Indian film to cross the RS 1000 crore mark with its worldwide collections.


  The film has made over Rs 800 crore in India and more than Rs 200 crore in the international markets.




5. Hollywood actor Emma Watson picked up the first-ever Genderless Acting Award for the Best Actor category at the MTV Movie and TV Awards.


Emma Watson


  This is the first ever genderless award that doesn’t separate nominees based on their sex.




6. IIT Bombay professor, Vikram Vishal won the prestigious INSA Young Scientist Award 2017.



  He was awarded for his research studies geologic sequestration or the capture of carbon dioxide released when coal is burnt, and injecting it back into the rock-deep underground.




7. After winning a special mention at the National Film Awards, Mukti Bhawan has now gone on winning the Best Film at the New York Indian Film Festival (NYIFF).


Mukti Bhawan


  The film that revolves around the man who accompanies his father on a journey to Varanasi is a film that is winning praises all over.




8. Konkona Sen Sharma grabbed the top honours at the 2017 New York Indian Film Festival (NYIFF).


  Konkona won the Best Director award for her directorial debut A Death in the Gunj and the Best Actress award for Lipstick Under My Burkha at 2017 NYIFF.




9. ICICI Bank Chief Chanda Kochhar has become the first Indian woman to be conferred with the prestigious Woodrow Wilson Award for Global Corporate Citizenship.


Chanda Kochhar


  Kochhar received the annual award which was instituted in 1998 by the prestigious Wilson Center.


  She has joined the league of former Indian recipients, former President and space scientist APJ Abdul Kalam and IT honcho Narayana Murthy.




10. Bengaluru has been named the world’s most affordable tech city in the new Savills Tech Cities Index.


  The Indian technology hub is the most affordable out of 22 cities that were graded on different parameters.


  The city which ranked first overall was Austin, Texas while New York ranked as the best in “business environment”.




11. Forbes Middle East has declared top 100 Indian business leaders.


Forbes 100 Indian business leaders


  Retail Mogul Yusuff Ali and Pepsico Executive Sanjeev Chadha are among the top 100 Indian business leaders in the Arab World 2017.


  Ali, Managing Director of Lulu Group International topped the Indian business owners category and Chadha, CEO, Asia, Middle East and Africa at PepsiCo International led the Indian executives category.




12. Former Indian Batsman V V S Laxman was awarded an honorary life membership to the Marylebone Cricket Club (MCC).


  Laxman is the fifth Indian to receive the honour, after Sachin Tendulkar, Rahul Dravid, Sourav Ganguly and Zaheer Khan.





Mergers & Acquisitions



1. Maharashtra government has tied up with World Health Organisation (WHO) for eradication of Rubella measles and will start vaccination drive from March 2018.


Maharashtra Government ties up with WHO


  Children aged between 9 months to 15 years, will be vaccinated for Rubella under this campaign across the state.




2. Techmagnate, India’s leading Digital Marketing Agency acquired BlogX, India’s largest blog conference where bloggers and content managers connect.


  The new venture will substantially open doors to new opportunities for Techmagnate and further give a competitive edge to its growth.




3. Telecommunications services provider Bharti Airtel partnered with taxi app Ola Cabs to offer a range of exciting digital services to customers.


Bharti Airtel partners with OlaCabs


  Both the companies will collaborate to deliver enhanced convenience for customers by leveraging the strengths of their respective portfolios.




4. The Indian Railways to acquire the End of Train Telemetry (EoTT) Equipment to establish fair communication between the locomotive driver and the last wagon of the train to ensure that the train is running with all coaches/wagons as a complete unit.


 Such Equipment will do the Guard’s Job while at the time of parting of coaches or wagons from the rear side of the train.


  To acquire more such equipment, Railways will float global tender worth over Rs. 100 crore to run 1,000 trains.




5. To promote a cash-less economy, cashback portal com has tied up with YES Bank to launch card-linked offers as part of its loyalty programme for both offline and online shoppers. ties up with Yes Bank


  The offer will be currently available on all YES BANK debit cards, and will be extended to all other payment products of YES Bank in the near future.




6. Paytm has signed a non-exclusive term sheet to acquire Snapdeal-owned digital payments platform FreeCharge.


  The deal, estimated at between USD 45 million and USD 90 million, could be finalized in a month.




Differences between IBPS Clerk & SBI Clerk | Analyze Which is better?





Appointments & Resignations



1. The government has approved the appointment of top Pakistan diplomat Sohail Mahmood as Pakistan’s next high commissioner to India.


Sohail Mahmood


  He will replace Abdul Basit who will retire this month.


   Mahmood is currently working as Pakistan’s ambassador to Turkey.




2. US President Donald Trump has nominated Indian-American Neil Chatterjee as a Member of Federal Energy Regulatory Commission (FERC).


   His term will expire on 30th June 2021.




3. Senior bureaucrat Sushil Chandra was given one-year extension till May 2018 as chairman of the Central Board of Direct Taxes (CBDT).


Sushil Chandra


   He had taken over as chief of CBDT, the apex policy making body of the Income Tax department, on 1st November 2016.




4. Indian-American Mona Jha was appointed as Chief Diversity Officer at Baruch College, New York.


   She will help to effectuate change in the staffing and faculty at the college to reflect the diversity of the student body.




5. Press Secretary to President Pranab Mukherjee and Senior Diplomat Venu Rajamony has been appointed India’s Ambassador to the Netherlands.


 Venu Rajamony


   Rajamony will also be India’s Permanent Representative to the Organization for Prevention of Chemical Weapons based in The Hague.




6. Microblogging platform Twitter has promoted the Sales and Marketing Support Lead ‘Mr. Taranjeet Singh’ to the position of the Country Director for India.


   Singh was earlier leading the charge for sales and marketing support for Twitter’s advertisers in India.


  In his new role, Mr.Singh will lead the team by driving an integrated business strategy and spearheading cross-functional collaboration.




7. The Appointments Committee of the Cabinet approved the appointment of 7 secretaries in different sectors.


Appointment of 7 Secretaries


   Sanjay Mitra appointed as the next defence secretary with a fixed tenure of two years. He was the secretary in the ministry of road transport and highways.


   Anant Kumar Singh, appointed as the secretary in the textiles ministry.


   Rashmi Verma, appointed as the secretary in the ministry of tourism. She was the secretary in the textiles ministry.


   Rajiv Srivastava, appointed as the next secretary in the ministry of woman and child development.


   Jagdish Prasad Meena appointed as the secretary in the department of consumer affairs.


   Leena Nair, appointed as the secretary in the ministry of tribal affairs.


   BR Sharma, appointed as the additional secretary in the home ministry.




8. Newly-elected South Korean President Moon Jae-in appointed South Jeolla Province Governor Lee Nak-yon as prime minister.


   Moon also offered Suh Hoon to lead the South Korean intelligence agency and Im Jong-Seok to serve as the Presidential Chief of Staff.




9. Retired judge of Delhi High Court Justice Mukul Mudgal has been elected as the Chairman of FIFA Governance committee at the FIFA’s 67th Congress held in Bahrain’s capital city of Manama.


Mukul Mudgal


   Justice Mudgal will have a term of office of four years which would come into effect immediately.


   Olli Rehn of Finland has been elected as Justice Mudgal’s deputy.




10. Mark Lowcock has been appointed the UN humanitarian aid chief.


   He is the head of Britain’s international development department.


   He will replace Stephen O’Brien, who held the post for two years.




11. Diplomat Vinay Mohan Kwatra has been appointed as India’s next ambassador to France.


Vinay Mohan Kwatra


   He is currently serving as joint secretary in the Prime Minister’s Office (PMO).


   Kwatra will succeed Mohan Kumar who is due to retire soon.




12. The World Health Organisation or WHO appointed Amitabh Bachchan as its goodwill ambassador for hepatitis in South-East Asia region.


   He was appointed to boost awareness and intensify action to arrest the Hepatitis epidemic.




13. Scientist and former director general of DRDO, V K Saraswat, was appointed as Chancellor of Jawaharlal Nehru University for five years.


V K Saraswat


   Saraswat succeeds former ISRO chairman K Kasturirangan, who completed his term on 30th March 2017.





Economics & Banking GK



1. International Monetary Fund in its regional economic outlook has predicted the growth rate of India as 7.2% in the 2017-18 fiscal and 7.7% in 2018-19 fiscal.


International Monetary Fund


   The report has stated that the disruptions are caused by the demonetization.




2. According to a report by UN ESCAP, Indian economy will grow 7.5 per cent next year by virtue of consumption revival and higher infrastructure spending.


   For 2017, India’s economic growth is projected stable at 7.1 per cent before catapulting to 7.5 per cent going into the next year.




3. Bank of India has cut its marginal cost of funds-based lending rates by 5-10 basis points for May.


Bank of India


   The revised rates are in the 8.25-8.40 per cent range.




4. Reserve Bank of India will soon start identifying cases for resolution of non-performing assets in consultation with IBA for necessary action.


   The Indian Banks’ Association (IBA) and the corporate debt restructuring cell already have information about the NPA cases that have not come to fruition.




5. Oil Natural Gas Corporation (ONGC Videsh Limited) produced a record 12.6 million tonnes of crude oil and equivalent gas from its assets abroad in 2016-2017.


Oil Natural Gas Corporation


   The output was up from 8.92 million tonnes of oil and equivalent gas in 2015- 2016.




6. State Bank of India (SBI) cut rates on home loans of up to Rs. 30 lakh by 25 basis points for new borrowers.


   The rate was reduced to 8.35% from 8.60%—the second time in 2017.


   For loans ranging from Rs30 lakh to Rs75 lakh, the bank has cut rates by 10 basis points.




7. The Reserve Bank of India (RBI) has initiated ‘prompt corrective action’ on IDBI Bank which will restrict bank from hiring, opening branches and giving big ticket loans.




   When a bank’s bad loan is above 6% and it reports losses for 2 consecutive years, then the ‘prompt corrective action’ is taken against that bank.

   The directions from the RBI is aimed at ensuring that the bank takes measures to cut down its losses by reducing expenses and recovering problem loans.

   The bank had suffered the historic loss of Rs 2,255 crore in the December quarter 2016 as it had to make huge provisions for bad loans.




8. India’s premier housing financing company LIC HFL has announced launch of its new home loan product ‘Griha Siddhi’.


LIC HFL launched Griha Siddhi


   Loans are offered for a maximum tenure of 30 years or retirement age in case of salaried employees and for other borrowers, the maximum term is up to 25 years.




9. The government has revised the base year of Wholesale Price Index (WPI) and Index of Industrial Production (IIP) to 2011-12 from 2004-05.


   The new series of IIP will include 809 manufacturing products and 55 mining products that are re-grouped into 521 item groups.


   The number of items covered in the new series of the WPI has increased from 676 to 697.




10. RBI has put the restriction on UCO Bank’s lending and branch expansion plans as the state-run lender made net losses for the two-successive fiscal amid severe stress on asset quality.


UCO Bank


   UCO Bank has become the second lender to face business restrictions after IDBI Bank.


   There would be the check on management compensation and directors’ fees as well as the sector regulator has invoked prompt corrective action (PCA) for the bank, aiming to bring it back on the recovery path.





Memorandum of Understanding (MoU)



1. The Department of Industrial Policy and Promotion (DIPP) and World Intellectual Property Organization (WIPO) have signed an agreement to establish Technology and Innovation Support Centers (TISC).


DIPP & WIPO signed agreement


   The program provides innovators in developing countries with access to locally based, high quality technology information and related services.


   It also helps them to exploit their innovative potential and to create, protect, and manage their Intellectual Property (IPRs) Rights.




2. A MoU was signed between the Odisha government and the Ziquitza Health Care as part of the major initiative to boost health care services.


   The state government will allocate six boat ambulances in four districts where people are facing problems in availing 108 ambulance service.


   The boat ambulance service will be made available in Koraput, Kendrapara, Kalahandi and Malkangiri districts through state funds.




3. Jharkhand government has signed a MoU with US-based technology major Oracle.


Jharkhand government signed MoU with Oracle


   The objective is to enhance delivery of services to citizens as well as make the State more attractive for startups.


   Oracle’s cloud services will be used to support the State by providing transparent governance.




4. NITI Aayog would partner with Uttar Pradesh for historic development keeping in mind the spirit of co-operative federalism.


   The focused areas are doubling the farmers’ income, livelihood opportunities, enterprise, investment and growth in the State.




5. India’s first International Financial Services Centre (IFSC) at Gujarat International Finance-Tec City (GIFT) signed MoU with Gujarat National Law University (GNLU).


IFSC signed MoU with GNLU


   MoU was signed to collaborate on efforts for Skill Development in the field of International Financial Services & Regulations.


   Under (MoU), GNLU will introduce a new course on IFSC from its June 2017 Semester.


   It will also organize for Lawyers covering IFSC, International Arbitration and related fields.




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Science & Technology



1. The US military’s experimental space plane, X-37B landed at NASA’s Kennedy Space Centre in Florida after completing a two-year-long classified space mission.


Space Plane  X-37B


   The space plane blasted off in May 2015 aboard an Atlas 5 rocket built by United Launch Alliance.




2.  To promote digitalization in the country, the Securities Market Regular SEBI has permitted subscriptions to MFs/AMCs (Mutual Funds/Asset Management Companies). Now these companies can accept investment by an investor through e-wallets, prepaid payment instruments (PPIs).




3. To promote digitalization, the Prime Minister Narendra Modi has inaugurated Supreme Court’s Integrated Case Management Information System (ICMIS).


Integrated Case Management Information System


   This digital filing system will mark Supreme Court’s first towards becoming a paperless, digital court.




4. The Department of Investment and Public Asset Management (DIPAM) launched an Investor Facilitation Platform that will provide information about stocks of public sector units.


    The platform will be an interactive forum for all stakeholders, including investors, investment banks, law firms, public sector units and administrative ministries that are involved in stake sales.




5. Technology giant Oracle has launched its cloud computing service for India, which aims to support the government’s GST rollout in July and plans to open data centres in the country.


Oracle launched Cloud Computing Service


   In an effort to simplify the tax regime in India and to ensure higher compliance with tax laws, Oracle’s ERP solution aims to provide support for GST Network integration, statutory reporting, payment processing, among others.


   In the GST regime, companies will have to upgrade their ERP systems.




6. China has set up a 160-square-meter (1,720-square-foot) laboratory, dubbed as “Yuegong-1”, or “Lunar Palace” for simulating a lunar-like environment.


   Four Postgraduate students from the Beijing’s astronautics research university will live in the laboratory for up to 200 days in a bid to prepare for China’s long-term goal of putting humans on the moon.




7. Scientists have detected “a strong water signature” in the atmosphere of a distant Neptune-sized planet called HAT-P-26b.




   The study conducted using NASA’s Hubble and Spitzer space telescopes has showed that HAT-P-26b has a primitive atmosphere composed almost entirely of hydrogen and helium.


   Researchers have detected the presence of water by pooling data obtained from four transits when the planet passed in front of its host star.




8. Election Commission of India Launched National Contact Centre with a toll-free No. 1800111950.


   It allows any citizen from any part of the country to call on the toll-free in English or Hindi with any query or complaint at any time of the day.


   Callers can enquire on subjects such as elections, voting dates, EPIC, electoral roll, online registration etc. and lodge a complaint by simply dialing into the toll-free no.




9. The Union Home Minister Shri Rajnath Singh launched the Ministry of Home Affairs (MHA) Mobile Application “BSFMyApp” for grievance redressal of the Central Armed Police Forces (CAPFs) personnel.




   This has given a ‘Digital Option’ to jawans to lodge their grievances.


   The most significant feature of the Application is its Financial Literacy Module which not only educates BSF Personnel about the investment of their savings but also facilitates investment in a safe and systematic manner.




10. The Border Security Force will make use of a newly developed technology Kavach (KVx).


   It is capable of detecting intrusions and relaying information to the nearest post for action to safeguard the 198 km India-Pakistan international border in Jammu and Kashmir.


   The technology developed by the Delhi-based defence IoT firm, CRON Systems is expected to bolster BSF’s defences amid strained ties and increase in the number of infiltration bids and ceasefire violations.




11. Tejas, the Light Combat Aircraft has successfully test fired Derby Air-to-Air Beyond Visual Range (BVR) missile in RADAR guided mode.


Tejas Aircraft


   The test was performed on a Maneuverable Aerial Target at the Interim Test Range (ITR), Chandipur.




12. Union Minister J P Nadda has launched new Pneumococcal Conjugate Vaccine, PCV, for Pneumonia at Lal Bahadur Shastri Medical College Hospital in Mandi district of Himachal Pradesh.


   The vaccine would help in controlling pneumonia and reducing the child mortality rate.





Important Dates



1. World Red Cross Red Crescent Day is celebrated on 8th May each year.


 World Red Cross Day


   The day marks the birth anniversary of the Henry Dunant (born 8 May 1828), the founder of International Committee of the Red Cross (ICRC) and the recipient of the first Nobel Peace Prize.


   The theme for 2017 is Less Known Red Cross Stories.




2. The World Migratory Bird Day (WMBD) is observed across the world on 10th May every year.


   The theme for WWBD 2017 is “Their Future is Our Future – A Healthy Planet for Migratory Birds and People”.




3. National Technology Day is being observed across India on 11th May to mark India’s technological advancements.


National Technology Day


  2017 National Technology Day Theme: Technology for inclusive and sustainable growth.


  The day is being commemorated to celebrate the anniversary of first of the five tests of Operation Shakti (Pokhran-II) nuclear test, held on 11th May 1998 in Pokhran, Rajasthan.





Recent Notable Deaths



1. Renowned Pakistani sitarist Ustad Raees Khan has passed away.


Ustad Raees Khan


  He collaborated with legendary shehnai player Ustad Bismillah Khan on stage.


  He also played the sitar for film music composers.




2. Justice Leila Seth, the first woman judge of Delhi High Court, passed away after a brief illness at her home in Uttar Pradesh’s Noida.


  She was the first woman to have topped the London Bar exam and also the first woman chief justice of a state high court (Himachal Pradesh).


  The eminent jurist, the mother of “A Suitable Boy” writer Vikram Seth, was herself an author and her autobiography ‘On Balance’ was a bestseller.




3. Karan Singh, Himachal Pradesh Cabinet Minister passed away at the All India Institute of Medical Sciences (AIIMS) in Delhi.


Karan Singh


  He was suffering from cancer.


  He represented the Banjar assembly constituency in Himachal Pradesh Assembly.




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Important Abbreviations Used in this Article



Abbreviation Full Form
MGNREGA Mahatma Gandhi National Rural Employment Gurantee Act
NGOs Non-Government Organizations
DRDO Defence Research and Development Organisation
PAN Permanent Account Number
ICAR Indian Council of Agricultural Research
BCCI Board of Control for Cricket in India
NBA National Basketball Association
FIFA International Federation of Association Football
NASA National Aeronautics and Space Administration
AIIMS All India Institute of Medical Sciences



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