May 11, 2018

WORD OF THE DAY

UNICORN

A term coined in 2013 by American Venture capitalists Aileen Lee, refers to a start -up valued at over $1 billion. The term was chosen to represent the statistical rarity of such successful ventures. Flipkart became unicorn in 2012.

Courtesy : Mint

 

NATIONAL NEWS

  1. The Telangana government introduced Rythu Bandhu, a scheme to provide Rs 4,000 per acre each to land-owning farmers for Rabi and Kharif seasons, and issued special passbooks for them
    • The state government has set aside Rs12,000 crore in the 2018-19 budget for Rythu Bandhu
  2. Indian Army’s month-longVijay Prahar exercise concluded in Suratgarh, Rajasthan. 
    • It was conducted by South Western Command of Indian Army.
    • The exercise was aimed to manage wide spectrum of threats including  Nuclear, Chemical or Biological (NCB)attack which are planned to be tackled through high tempo joint air and land operation
  3. The inaugural session of the Indian Pavilion at the Cannes Film Festival 2018 was held atCannes, France. It was hosted by noted actor Sharad Kelkar.
  4. In a bid to help sugar mills to clear cane dues of farmers, Central Government has issued orders to extend financial assistance @ of Rs. 5.50 per quintal of cane crushed in sugar season 2017-18 to sugar mills to offset the cost of cane.
  5. Venkaiah Naidu has constituted a 2-member committee to review rules of procedure and conduct of business in Rajya Sabha.
    • The two-member committee will be headed by V.K. Agnihotri – Former Rajya Sabha Secretary General, while the other member will be R. Dhaleta – Former Joint Secretary in the Union Ministry of Law and Justice.
  6. Indian Navy is engaged in conducting a joint Exclusive Economic Zone (EEZ) surveillance of Maldives.
    • For this purpose, Indian Navy has deployed Indian Naval (IN) ship Sumedha, a Naval Offshore Patrol Vessel (NOPV), from 9th to 17th May 2018.
    • This deployment is a part of Indian Navy’s ‘Mission Based Deployments’.
    • In context of this news, it is important to note that two officers and eight sailors of the Indian Navy’s Marine Commando (MARCO) cadre are currently conducting the 2nd Asymmetric Warfare Training Exercise ‘Ekatha 2018’ at Maldives.

 

  1. India’s longest road and railway bridge “Bogibeel bridge”, linking Dibrugarh in Assam to Pasighat in Arunachal Pradesh is expected to be inaugurated in 2018 by Prime Minister Narendra Modi.
    • The bridge is 94 km long
    • The bridge is 32 metres above the water level of the Brahamaputra River.
  2. On 10th May 2018, a parliamentary panel headed by BJP leader Murali Manohar Joshi decided to study the recovery of black money and performance of public sector banks etc.
    • The Estimates Committee consists of 30 members. It has planned to study various subjects related to several ministries in 2018-19
    • The panel will overview the import of uranium for nuclear plants, mining activities and environment, upgrading of India Post offices and the drought situation in India etc.
  3. Kerala Government approved setting up of the Kerala Fibre Optic Network Limited, the Joint Venture, to implement the Kerala Fibre Optic Network (K-FON) project, as a part of its programme to offer free internet to over 20 lakh poor families.
  4. The IAF (Indian Air Force) successfully conducted its first online selection test for airmen.
    • The first ever Scheduled Test for Airmen Recruitment (STAR) was held through computer based online tests in association with Centre for Development of Advanced Computing (CDAC) Pune.
  5. The United States Stanford University will partner with Uttar Pradesh to fight disease like Japanese Encephalitis (JE) and Acute Encephalitis Syndrome (AES).
  6. Flipkart co-founder and Executive Chairman Sachin Bansal has announced his exit from Flipkart, following Walmart’s deal to acquire Flipkart.
  7. Bangladesh’s first communication satellite Bangabandhu-1 will be launched by SpaceX’s Falcon 9 rocket from Kennedy Space Center Launch Complex 39A
    • It is designed to provide wide range of broadcast and communication services throughout Bangladesh.
  8. NITI Aayog will come out with the Sustainable Development Index next month to rank states based on their performance on this field.
    • The report rates states on 82 schemes of 38 central ministries using 75 indicators to capture SDG targets.

 

INTERNATIONAL NEWS

  1. In collaboration with the U.S.-India Aviation Cooperation Program and the Government of India, US Trade and Development Agency (USTDA) is hosted the 6th U.S.-India Aviation Summit in Mumbai, India.
    • The American Association of Airport Executives (AAAE)is organizing this visit on behalf of USTDA.

 

BANKING AND ECONOMY

  1. YES Bank is all set to roll out a capacity building project with farmers in Haryana and Rajasthan under its ‘Livelihood and Water Security’ CSR initiative.
    • The overall focus of the programme would be on sustainable agricultural practices and digital literacy.

 

APPOINTMENTS

  1. Munu Mahawar, an Indian Foreign Service (IFS) officer has been appointed as the next Ambassador of India to the Sultanate of Oman.
  2. Manu Ahuja has been appointed as Chief Executive Officer and Managing Director of Jubliant Industries Ltd.

 

AWARDS

  1. Prof Muhammad Yunus was awarded the 11th KISS Humanitarian Award 2018 at an event, in Bhubaneswar, Odisha.
    • KISS (Kalinga Institute of Social Sciences)
    • He is the founder of Grameen Bank of Bangladesh. He is known as the Father of Microfinance.
    • He is the second Nobel laureate to receive this award.
    • KISS Humanitarian Award is an international award given to someone who has made exceptional contribution to the society in various fields relating to social issues and who has distinguished himself or herself as a true humanitarian

IMPORTANT DAYS

  1. Every year, `National Technology Day’ is celebrated across India on May 11 to memorize the anniversary of Shakti, the Pokhran nuclear test held on 11 May 1998.
    • The National Technology Day 2018 theme is “Science and Technology for a Sustainable Future”.
    • The first nuclear test Pokhran with a code named as ‘Smiling Buddha’ was carried out in May, 1974.
    • Twenty years ago, on May 11, 1998, India conducted the landmark Pokhran-II nuclear test at the Pokhran Test Range in Rajasthan’s Jaisalmer district. A series of five nuclear explosions were conducted between May 11 and May 13, 1998

 

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SPORTS

  1. Delhi Daredevils’ Rishabh Pant scored 128*(63) against SunRisers Hyderabad.
    • He became the first Indian to reach the highest-ever score in the history of Indian Premier League.

 

MISCELLANEOUS

  1. Former Test cricketer Rajinder Pal, who represented India in one Test match, passed away
  2. Film editor Anne V. Coates, died in California, United States
    • She had received an honorary Oscar, for her lifetime of work, at the 2016 Governors Awards ceremony.
  3. Australia’s oldest scientist David Goodall ended his own life at a clinic in Switzerland.