May 15, 2018

WORD OF THE DAY

 

LOCKED MARKET

An unusual and typically short-term market situation in which a stock’s bid and ask prices are identical. Usually, there is a difference between the highest price a buyer will pay for a security (bid price) and the lowest price a seller will accept (ask price).

Courtesy: Mint

 

NATIONAL NEWS

  1. Four States and a Union Territory agreed to implement the National Health Protection Mission which aims to provide an annual coverage of Rs 5 lakh per family.
    • Himachal Pradesh, Jammu and Kashmir, Haryana and Uttar Pradesh along with Chandigarh (UT)
  2. 4th edition of Global Exhibition on services inaugurated in Mumbai
    • 25 Indian states and around 100 countries are expected to participate
  3. FIH Mobile, the investment subsidiary of Foxconn Technology Group, the world’s largest contract manufacturing giant, has written off an additional $40 million of its $200 million bet on Gurgaon-based online marketplace Snapdeal
  4. The Government has approved the merger of Norway’s Telnor with Bharti Airtel
    • Airtel will begin integrating Telenor India’s operations across seven circles- Andhra Pradesh, Bihar, Maharashtra, Gujarat, UP (East), UP (West) and Assam.
  5. President Ram Nath Kovind launched Bhairon Singh Shekhawat Antyoday Swarojgar Yojana, Sundar Singh Bhandari EBC (economically backward class) Swarojgar Yojana and Rin Maufi Yojna of Rajasthan State Government.
    • Sundar Singh Bhandari EBC Swarojgar Yojana – A loan of Rs 50,000 on 4% interest will be given to economically backward families of the general category.
    • Bhairon Singh Shekhawat Antyoday Swarojgar Yojana – Loans of up to Rs 50,000 on 4% interest will be given to Scheduled Castes (SC), Scheduled Tribes (ST) and Other Backward Class (OBC) families for self-employment.
    • Rin Maufi Yojna – Loan waiver scheme of up to Rs 50,000 to SC, ST, OBC, sweepers and ‘divyang’.
  6. Ministry of New and Renewable Energy issued National Wind-Solar Hybrid Policy.
    • The Policy seeks to promote new hybrid projects as well as hybridisation of existing wind/solar projects.
    • Integration of both the energy sources i.e. wind and solar at AC as well as DC level.
    • Offer a framework for promotion of large grid connected wind-solar PV hybrid system for efficient usage of transmission infrastructure and land.
  7. A new Antyodaya train named 22551/22552 Darbhanga-Jalandhar City Antyodaya Express (Weekly) has been flagged off.
  8. A meeting on the Samarth scheme was held in New Delhi
    • Samarth Scheme – Its broad objective is to skill the youth for gainful and sustainable employment in textile sector covering entire value chain of textiles, excluding spinning and weaving.
    • Scheme was launched by the Ministry of Textiles
  9. Central Public Sector Enterprise (CPSE), National Aluminium Company Limited (NALCO) has signed MoU with Union Ministry of Mines, setting highest ever target of Rs 9350 crore revenue for financial year 2018-19.
  10. E-way bill system for intra-state movement of goods valued over Rs 50000 would be rolled out in Assam from May 16, 2018 and in Rajasthan from May 20, 2018.
  11. National Thermal Power Corporation (NTPC) inked acquisition pact with Bihar
    • Barauni Thermal Power Station and Bihar State Power Generation Co. Ltd. (BSPGCL’s) 27.36 percent equity in Kanti Bijlee Utpadan Nigam Ltd (KBUNL) and 50 percent equity in Nabinagar Power Generating Company will also be transferred to NTPC.
  12. The first Post Office Passport Seva Kendra (POPSK) that is run by an all-woman team began operations in Phagwara, Punjab.
  13. Two day regional conference on “Physical and Social Infrastructure for Regional Development” was organised in Guwahati, Assam
    • The Theme of the conference is ‘Physical and Social Infrastructure for Regional Development’.
    • This is aimed to bridge the regional disparity through investment in physical and soft infrastructure.
  14. Indian Army Women Officers’ Mountaineering Expedition to Mt. Bhagirathi-II (6512 metres) comprising 9 women officers, was flagged off by Director General of Military Training.
    • Bhagirathi-II is located in the Garhwal Himalayas in Gangotri National Park.
  15. Income Tax Department launched the ITR-2, the third income return form for assessment year 2018-19, on the official e-filing portal.
    • ITR-2 is for individuals, Hindu Undivided Families (HUFs) and NRIs who have income from any sources except income from profits and gains of business or profession.
    • With this, a total of three Income Tax Returns (ITRs) have now been activated by Income Tax Department viz. ITR-1 (Sahaj), ITR-4 and ITR-2.
  16. According to recent study of Lancet Global Health, there have been 2,39,000 excess deaths per year of girls under age of five in India due to gender bias.
    • Excess mortality is the difference between observed and expected mortality rates in both genders.
  1. The Genetic Engineering Appraisal Committee (GEAC) has demanded more tests for genetically modified mustard- Dhara Mustard Hybrid (DMH -11)for “commercial cultivation
  2. The fourth meeting of South Asia Wildlife Enforcement Network (SAWEN), an inter-governmental wildlife law enforcement agency was in Kolkata, West Bengal
  3. New Direct Tax Code
    • A new Direct Tax Legislation that will replace the existing Income Tax Act of 1961
    • The new tax code will try to bring more assesses in tax net, making the system more equitable for different classes of tax payers, make business more competitive by lowering corporate taxes.

 

INTERNATIONAL NEWS

  1. World Health Organization (WHO) calls on governments to use the ‘REPLACE’ action package to eliminate industrially-produced artificial trans-fats from the global food supply by 2023.
    • REPLACE is abbreviated in six strategic actions as Review, Promote, Legislate, Assess, Create awareness and Enforce.
    • The global health body estimates that every year, trans fat intake leads to over 5,00,000 deaths worldwide from cardiovascular diseases
  2. As per a report by Mercom Communications India, India emerged as the third largest solar market in the world in 2017 behind China and the US.
    • In 2017, India set a new record with 9.6 GW of solar installations, which was more than double the 4.3 GW installed in 2016.
  3. International Labour Organization’s (ILO’s) World Employment and Social Outlook Report has that projected increase in surface temperature due to global warming will lead to around 2,59,000 job losses in India by 2030, especially in carbon-and resource-intensive industries.

 

 

BANKING AND ECONOMY

  1. Reserve Bank of India (RBI) has placed additional restrictions on Allahabad Bank, which is under prompt corrective action (PCA) since January 2018.
  2. World Bank (WB) has finally agreed to provide a grant to Bangladesh for meeting the basic needs of around one million Rohingyas who fled their homeland Myanmar.
  3. Private sector bank, Yes Bank and its think tank YES Global Institute have launched ‘Agenda 25×25’, aimed at creating a synergetic startup environment for budding women entrepreneurs in India.
    • Agenda 25X25’ is geared towards ensuring that by 2025, at least 25% of all entrepreneurs in India are women

 

APPOINTMENTS

  1. Rajvardhan Rathore has been given the charge of Information and Broadcasting Ministry
    • Smriti Irani will handle the Ministry of Textiles only.
    • Piyush Goyal, Minister of Coal, Railways, has been given the additional charge of Finance Ministry until Arun Jaitley resumes.
  2. Netmeds has appointed Mahendra Singh Dhoni as its brand ambassador.
    • Netmeds is online Pharmacy.

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IMPORTANT DAYS

  1. May 15 – International Day of Families
    • Theme – “Families and inclusive societies”

 

AWARDS

  1. DRDO Awards 2016 – 2017
    • Dr V K Saraswat – DRDO Lifetime Achievement Award – 2017
    • Dr Vasudev Kalkunte Aatre –  DRDO Lifetime Achievement Award – 2016
  2. Anindita Anaam, a US-based Kathak dancer, was presented the ‘Shri Jayadev Rastriya Yuva Pratibha Puraskar 2018’, at the ‘Jayadev International Dance Festival’ in Bhubaneswar.
  3. British journalist and former BBC India correspondent Sir William Mark Tully has been selected for this year’s RedInk Award for lifetime achievement in journalism.
    • Faye D’Souze, the executive editor of Mirror Now channel, has been chosen for the RedInk award for ‘journalist of the year’.
  4. Dr Bindeshwar Pathak, the founder of Sulabh International, has been chosen for the Nikkei Asia Prize in Japan 2018 for his contribution to the Development of Asia.


SPORTS

  1. Mercedes and British driver Lewis Hamilton won the Spanish Grand Prix thus crowning himself with the Formula One’s season title.
  2. India’s Heena Sidhu won a gold medal in the 10m air pistol category at the International Shooting Competitions of Hannover (ISCH), Germany.
  3. The Paris Saint-Germain’s Brazilian forward footballer Neymar was named France’s Player of the Year as part of 27thUNFP (French National Professional Football Players Union) trophy Ceremony in Paris.

 

MISCELLANEOUS

  1. The actor Margot Kidder, best known for playing Lois Lane in the Superman films in the 1970s and 1980s, has died. 

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