May 10, 2018

WORD OF THE DAY

 

WALLY WORLD

A fictional amusement park in the 1983 comedy film National Lampoon’s Vacation, this is a nickname for Walmart Inc. which bought a majority stake in Flipkart. The name is prompted by the sheer size of stores and universality of products sold by the world’s largest retailer.

Courtesy : Mint

 

NATIONAL NEWS

  1. Union Minister of Electronics and Information Technology Ravi Shankar Prasad launched the website of Digital India Internship Scheme in New Delhi.
    • Under this scheme, 25 interns will be inducted for a period of three months.
  1. Telecom regulator Telecom Regulatory Authority of India (TRAI)issued a draft to amend interconnect regulations, proposing certain changes in terms and conditions for operators to seek fresh call connect ports from other telcos.
    • The ‘draft Telecommunication Interconnection (Amendment) Regulations 2018‘ proposed that a service provider can ask another operator for additional ports, in case the projected utilisation of the capacity is likely to exceed 85% over 60 day period.
  2. Ram Nath Kovind became the second president of India to visit Indian Army’s Siachen base camp.
    • President Ram Nath Kovind is also the Supreme Commander of Indian armed forces.
    • Siachen base camp is also known as the “Third Pole”where temperatures drop to minus 50 degrees Celsius sometimes.
    • The first President to visit was Dr APJ Abdul Kalam
  3. NITI Aayog will announced the top 30 innovations of Atal Tinkering Marathon in Delhi.
    • Atal Tinkering Labs of  the Atal Innovation Mission (AIM) of NITI Aayog, organized an Atal Tinkering Marathon, a six month long national level challenge.
    • It was conducted in six thematic areas: clean energy, water resources, waste management, healthcare, smart mobility and agri-tech.
    • Atal Tinkering Labs are dedicated works spaces where students (Class 6th to Class 12th) learn innovation skills and develop ideas that will go on to transform India.

 

  1. Union Minister Nitin Gadkari stated that government has approved green licence plates bearing numbers in white fonts for private e-vehicles (electronic vehicles).
    • The green licence plates will make it easy to identify electric vehicles for preferential treatment in parking, free entry in congested zones and other proposed benefits like concessional toll.
    • Currently there are four kinds of vehicle number plates in India: white licence plates with numbers in black font for private vehicles, yellow plates with black font for commercial vehicles, black plates with yellow font letters for self-driven rental vehicles and blue plates with white font for Embassies and High Commissions.
  2. Union Minister for Civil Aviation, Suresh Prabhu inaugurated the 6th US-India Aviation Summit was held in Mumbai, Maharashtra.S
    • This three-day Summit is being jointly organised by Union Ministry of Civil Aviation and US Trade and Development Agency (USTDA).
    • The Summit will serve as a platform for Indian civil aviation agencies and aviation industry representatives, including private sector airlines and airport operators, to identify advanced US technologies and practices, that can support their expansion and modernization efforts.

 

  1. Union Ministry of New and Renewable Energy (MNRE) has stated that India’s installed clean energy capacity has already touched 70 GW as per data compiled on March 31, 2018.
    • MNRE stated that that renewable energy capacity of 11788 MW was added during last fiscal, which is the highest ever in a single year.

 

  1. Arunachal Chief Minister Pema Khandu inaugurated Arunachal Pradesh’s biggest solar power plant at Energy Awareness Park in Itanagar.
    • The plant has a capacity of 1 MW. It was commissioned on 1st April 2018. Estimated investment for the park is Rs 8.50 crore.
    • The project was implemented by Arunachal Pradesh Energy Development Agency (APEDA).

 

  1. World’s largest Indian national flag unfurled at Hyderabad, Telangana.
    • The flag was 122 feet in length and 183 feet in width. The flag was prepared by an organisation called ‘Vibrants of Kalam’.

 

  1. Canada’s largest pension fund Canada Pension Plan Investment Board (CPPIB) and Allianz Capital Partners (ACP), part of insurance giant Allianz, are acting as anchor investors in the first private infrastructure investment trust in IndiaIndInfravit Trust.
    • IndInfravit Trust, sponsored by L&T Infrastructure Development Projects Ltd (L&T IDPL), will initially acquire five operational toll roads and plans to grow in the future through additional investments in road infrastructure in India.

 

  1. India has finally merged the two separate bodies handling anti-dumping and import safeguards to form the Directorate General of Trade Remedies (DGTR), in line with US International Trade Commission (USITC), for providing comprehensive and swift trade defence mechanism under one umbrella.
    • Currently, Directorate General of Anti-Dumping and Allied Duties (DGAD) deals with anti-dumping and countervailing duty cases, while Directorate General of Safeguards (DGS) deals with safeguard measures and DGFT deals with quantitative restriction (QR) safeguards

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INTERNATIONAL NEWS

  1. The leaders of China, Japan and South Korea met in Tokyo against the backdrop of historic diplomatic moves by North Korea and a push for the isolated country to give up its nuclear weapons.
    • Japanese Prime Minister Shinzo Abe, Chinese Premier Li Keqiang and South Korean President Moon Jae-in held talks in the first three-way summit
  2. A MoU was signed between Gujarat government and the Poland government regarding the centenary celebrations to mark independence of Poland in Delhi and other regions of the world.
  3. Indian Government has sent 2nd relief consignment for Rohingyas (who fled Myanmar) residing in refugee camps in Bangladesh.
  4. On 8th May 2018, Alibaba announced that, it has bought Pakistani e-commerce firm Daraz.
  5. Yahoo has launched its own new group chat app named
  6. Japanese casual clothing retailer Uniqlo will open its first Indian store in Delhi in fall 2019, through its Indian subsidiary Uniqlo India Pvt. Ltd.


 

BANKING AND ECONOMY

  1. On 10th May 2018, Airports Authority of India (AAI) signed a Rs 945-crore deal with the Harris Corporation of the US for development of its futuristic telecommunications infrastructure (FTI) programme.
    • The contract is for 15 years.It was signed at the sixth edition of the US-India aviation summit that started on 10th May 2018 in Mumbai.
    • According to the deal, Harris Corporation will be the prime contractor and systems integrator for the programme. The programme will be executed in two years.
  2. The Indian tea industry reached the highest ever production of 1,325.05 million kg and export of 256.57 million kg during the financial year 2017-18.
  3. Canadian Exchange Traded Fund (ETF) became the first global equity ETF run by robots when it launched in

 

APPOINTMENTS

 

  1. 92-year-old Mahathir Mohamad will become world’s oldest elected leader after he will be sworn in as Malaysia’s Prime Minister following a fiercely contested 14th General election.
    • Earlier, Mahathir governed Malaysia for 22 years from 1981 to 2003 as strongman leader of the Barisan Nasional coalition.

 

MISCELLANEOUS

  1. Astronomers have discovered an unusual, first of its kind, carbon-rich asteroid in the Kuiper Belt. This object has been designated 2004 EW95
    • Kuiper belt is a circum-stellar disc in the outer Solar System, extending from the orbit of Neptune to approximately 50 astronomical unit (AU) from the Sun.
    • As per the study, 2004 EW95 seems to have formed in the asteroid belt between Mars and Jupiter and then would have been flung billions of kms to its current locations.
  2. Former Madhya Pradesh minister and senior Congress leader Dr Nirmal Hirawat died

 

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Please note – May 7th is not observed as World Athletics Day (The correction has been made with respect to the Daily Current Affairs document dated May 9, 2018)