June 17, 2018

NATIONAL NEWS

  1. The U.S. has surpassed India to become the top destination for greenfield foreign direct investment in 2017.
    • According to the FDI Report 2018, compiled by FDI Intelligence, a division of The Financial Times Ltd.
    • India had maintained the top slot in greenfield FDI investment in 2015 and 2016
    • US recorded $87.4 billion on FDI.
    • In the Asia and Pacific region, China ( USD 50.8 billion) was on top in terms of FDI in the total number of new projects and capital investment, followed by India (USD 25.1 billion).
    • A green field investment is a type of foreign direct investment (FDI) where a parent company builds its operations in a foreign country from the ground up.
  1. States have collected taxes to the tune of Rs 10,000 crore online since the rollout of Transport Mission Mode Project (MMP).
    • The Road and Transport Mission Mode Project (MMP) is one of the 27 Mission Mode Projects of the National e-Governance Plan in India, a program to centralize governance operations online.
    • Two flagship applications under Transport (Mission Mode Project ) MMP — Vahan and Sarathi Vahan– have been released.
    • Vahan deals with vehicle registration, taxation, permit, fitness and associated services.
    • Sarathi Vahan deals with driving licence, learner licence, driving schools and related activities.
    • The applications have been implemented in more than 1,000 RTOs across 33states and Union territories – with state-specific rules, tax structures.
  1. Telangana to set up ‘District Child Protection Units (DCPU)’ in all 31 districts to protect the children from child abuse, child labour and also to implement the child rights in all districts.
    • It was already established in 10 districts and now will be extended to 21 more districts.
  1. SAARC Development Fund will soon be launching a Social Enterprise Development Programme (SEDP) to fund 80 entities annually across the 8-member states including India.
    • SDF would create access to financial services which can boost job creation, raise income, reduce vulnerability and increase investments in human capital in — Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka (SAARC members). 
  1. According to the data of Commerce MinistryIndia had trade deficit with as many as 10 member countries out of 16 of the Regional Comprehensive Economic Partnership (RCEP)nations.
    • These RCEP bloc nations include : China, South Korea and Australia.
    • Trade Deficit is the difference between imports and exports. With free trade agreements, this would increase.
    • RCEP consists of 10 ASEAN group members (Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Singapore, Thailand, the Philippines, Laos and Vietnam) and their six FTA partners – India, China, Japan, South Korea, Australia and New Zealand.
  1. The Insurance Regulating body IRDAI has formed a 10 member committee to review regulations of the Insurance marketing Firms (IMF).
    • It would recommend measures to strengthen the distributing channel by including products under the jurisdiction of other financial sector regulators.
  1. Fourth meeting of NITI Aayog’s Governing Council began at the Rashtrapati Bhavan in New Delhi.
    • The development agenda for ‘New India 2022’ was also expected to be approved.
  1. NEW INDIA 2022
    • By successfully completing transitions in Political, Social and Economic areas, India will emerge as a model for the rest of the world.
    • Sankalp se Siddhi: For India to emerge as:
      1. Swachh
      2. Swastha
      3. Shikshit
      4. Sampann
      5. Saksham
      6. Surakshit
  • Freedom 1 – Poverty Free India
    1. Achieve Kuposhan Mukt Bharat by 2022
    2. Swasth Bharat: focus on wellness
    3. Padhe India Badhe India
    4. 20 World Class higher education institutions by 2022
  • Freedom 2 – Dirt and Squalor Free India
    1. Swachh Bharat
    2. Clean Rivers
    3. Clean Energy
  • Freedom 3 – Corruption Free India
  • Freedom 4 – Terrorism Free India
  • Freedom 5 – Casteism Free India
  • Freedom 6 – Communalism Free India
    1. Nai Manzil, Nai Roshni,
    2. Stand-Up India
    3. Begum Hazrat Mahal Scholarship
    4. Seekho aur Kamao
    5. Padho Pardes,
    6. Progress Panchayat,
    7. Hunar Haat

 

 

INTERNATIONAL NEWS

  1. The World Bank has approved $700 million to help Bangladesh achieve its education for all vision by improving the primary education sector.
    • The Quality Learning for All Program (QLEAP) will cover more than 18 million children studying in pre-primary level to grade 5.
    • It will also finance implementation of the government’s Fourth Primary Education Development Program (PEDP4).
  1. WhatsApp payment service has been in beta testing and almost one million people are testing the feature.
    • This is being implemented with the help of NPCI and multiple banks.
    • It has tied up with banks to facilitate financial transactions via Unified Payments 
  1. Russia successfully launched a Glonass- M positioning satellite using a Soyuz-2.1b carrier rocket.
    • The Glonass network provides real-time positioning data for surface, sea and airborne objects around the globe, at an accuracy reportedly at par with the U.S. Global Positioning System.
  1. On June 17, 2018, The High Commission of India in Seychelles celebrated the 4th International Day of Yoga (IDY) 2018 at the iconic Palais des Sports indoor stadium in Victoria, Seychelles.
    • The theme of the celebration was : ‘Yoga for Health’.
  1. The Nuclear Suppliers Group (NSG) plenary meeting took place on in Jurmala, Latvia after Latvia assumed chairmanship of NSG for 2018-19.
    • With this, Latvia became first Baltic state to chair the NSG.

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BANKING AND ECONOMY

  1. Muthoot Fincorp Limited announced its partnership with National Skill Development Corporation to train over 10,000 youth over the next three years and make them job ready.
    • Muthoot Fincorp claims to have become the first major private sector player to partner with National Skill Development Corporation (NSDC) to launch the Pradhan Mantri Kaushal Vikas Yojana (PMKVY.2) programme

 

  1. The Reserve Bank of India (RBI) has eased investment norms for foreign portfolio investors (FPIs) in debt, especially into individual large corporates.
    • This move is aimed at attracting more overseas flows and thereby help to arrest recent fall in rupee and also lift recent fall in demand for corporate bonds.
    • Corporate bond segment: FPIs are permitted to invest in corporate bonds with minimum residual maturity of above 1 year.
      1. The short-term investments in corporate bonds by an FPI shall not exceed 20% of total investment of that FPI in corporate bonds.
    • Government securities (G-secs): The FPIs cap on investment in Government securities (G-secs) has been increased to 30% of outstanding stock of that security, from 20% earlier.
      1. FPIs were allowed to invest in government bonds with minimum residual maturity of three years
    • Removal of minimum residual maturity requirement: FPIs are permitted to invest in G-secs, including treasury bills (T-bills), and SDLs without any minimum residual maturity requirement.

 

 


APPOINTMENTS

  1. Ivan Duque has been appointed as the President of Colombia.
    • Duque, who will turn 42 just before taking office will be Colombia’s youngest ever President.

 

 

IMPORTANT DAYS

  1. The World Day to Combat Desertification (WDCD) will be celebrated worldwide on 17 June.
    • It is observed each year to promote public awareness of international efforts to combat desertification.
    • 2018 Theme of WDCD :-“Land has true value – Invest in”

 

SPORTS

  1. American golfer Brooks Koepkahas made history as he became the first player in 29 years to win back-to-back US Open titles at Shinnecock Hills in New York.
    • The World number one Dustin Johnson finished third.

 

  1. Roger Federer claimed his 98th ATP title in the Stuttgart Cup Final.
    1. Tim Putz and Phillip Petzschner (Germany) won the Men’s Doubles title