July 18, 2018

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NATIONAL NEWS

  1. 84 of the 161 companies that held their Annual General Meetings (AGMs) between 1 May and 15 July did not seek auditor ratification, according to data compiled by Glass Lewis & Co. Llc, a US-based proxy advisory firm.
    • This includes 20 state-run banks.
    • Under the Companies (Amendment) Act, 2017, effective May 2018, the annual auditor ratification was removed, unless a company appoints a new auditor or is re-appointing an existing one.
  1. The government will infuse more than ₹11,300 crore into five state-run banks- Allahabad Bank, Corporation Bank, Indian Overseas Bank, Punjab National Bank (PNB) and Andhra Bank.
    • Allahabad Bank, Corporation Bank and Indian Overseas Bank have been placed under Reserve Bank of India’s (RBI’s) Prompt Corrective Action (PCA) framework.
  1. The largest Indian visa centre in the world is inaugurated in Dhaka, Bangladesh.
    • Bangladeshis constitute one of the largest numbers of visitors from a single country to India.
    • Last year the country issued 4 million visas to Bangladeshi nationals.
    • India has 12 visa centres in Bangladesh, which is the highest number the former has in any country in the world.

 

  1. Average sea levels may rise by up to 30 feet around the world if humans continue to burn fossil and fuels causing temperatures to breach the threshold of 2 degrees Celsius above pre-industrial levels in the next few thousand years as per the study of Nature Climate Change.
    • The Paris Agreement requires countries to limit their carbon emissions to keep the overall warming of Earth to 1.5 degrees Celsius above pre-industrial levels.
    • The sea-level is rising at an average rate of 1.6-1.7 mm per year along the Indian coast, but it is not uniform.
    • According to oceanographers, among South-Asian countries, Bangladesh is most-vulnerable, but India with its vast coastline of nearly 7,516 km on the east and west also needs to be proactive

 

  1. The Narendra Modi government is winding up a flagship eBiz portal launched by the Congress-led United Progressive Alliance (UPA) government.
    • Which was supposed to act as a one-stop facility for businesses to obtain government licences and clearances as well as reduce red tape and improve transparency.
    • It was developed by Infosys Ltd for the Department of Industrial Policy and Promotion (DIPP) under the National e-Governance Plan in a public-private partnership model for 10 years.
  2. The government increased the axle load of trucks and trailers, which will allow the goods vehicles to carry extra load of about 20-25%.
    • For the rigid trucks the gross vehicle weight, which includes the self-weight, has been capped at 49 tonnes and for tractor trailers at 55 tonnes.
    • Only up to 5 percent of more load than the fixed norm won’t attract any penalty.
    • The move will help reduce transportation cost and consequently, commodity prices.
  1. According to a Telecom Regulatory Authority of India (Trai) report, Reliance Jio has topped the chart of fastest 4G telecom operators with an average peak download speed of 3 mbps on its network in May.
    • Idea Cellular registered highest upload speed in May.
    • Jio’s national average of 4G download speed was more than double compared to its closest rival Bharti Airtel, which recorded download speed of 7 mbps.
    • Vodafone and Idea Cellular registered slight dip in download speeds in May at 7 and 6.1 megabite per second (mbps), respectively.

 

  1. The Right to Information (Amendment) Bill, 2018 – proposes to give the Centre the power to set the tenure and salaries of State and Central Information Commissioners.
    • The Bill is being opposed by several Opposition political parties and RTI activists.
    • The current law gives Information Commissioners a tenure of five years and salaries which match those of Election Commissioners.
  1. As per the Cigna 360° Well-Being SurveyFuture Assured, conducted by Cigna TTK Health Insurance, Indians suffered greater levels of stress than people in the United States, the United Kingdom, Germany, France, China, Brazil and Indonesia.
    • About 89% of the population in India say they are suffering from stress compared to the global average of 86%, said the study.
    • It also revealed that every eighth person has trouble dealing with stress, with millennials suffering more than other groups.
    • Nearly 75% of the respondents in India do not feel comfortable talking to a medical professional about their stress, said the study.
    • Work and finance are key reasons for high stress levels.
  1. The Bihar Cabinet increased the compensation for rape survivors and acid victims from ₹3 lakh to ₹7 lakh under Victim Compensation (Amendment) Scheme, 2018.
    • Last month, National Legal Services Authority and the Centre had drawn up a relief policy for rape and acid attack victims offering minimum compensation amount of ₹5 lakh and ₹7 lakh respectively.
    • The amount can be increased by 50% over and above ₹7 lakh if the victim is below the age of 14.
  1. Aviation security watchdog Bureau of Civil Aviation Security (BCAS) has finalised a strategy to neutralise drones near airports.
    • The counter-drone plan prepared by a committee headed by Kumar Rajesh Chandra has proposed neutralising drones through a “soft kill” approach which will include entrapping or jamming drones instead of destroying them.
    • The strategy deals with drones operating near aerodromes as the body is mandated to ensure aviation security.

 

  1. The government has doubled import duty on more than 50 textile products — such as jackets, suits and carpets — to 20%, a move that is aimed at promoting domestic manufacturing.
    • The Central Board of Indirect Taxes and Customs has also raised the ad-valorem rate of duty for certain items.
    • Imported products that face the new duty include woven fabrics, dresses, trousers, suits and baby garments.


 

BANKING AND ECONOMY

  1. Yes bank announced that it would unveil the 7th edition of ‘Transformation Series Challenge’.
    • It has partnered with 12 global leaders like Microsoft, Cisco, IBM and Adobe for the collaboration.
    • The theme is ‘Tech for Urban Development’.
    • It will focus on Collaborative Innovation – Collaboration as a Service (CaaS) for harnessing innovative solution from young professionals for issues of national importance.

 

 

APPOINTMENTS

  1. Wrestling Federation of India President Brij Bhushan Saran Singh would be named the Chef de Mission of the Asian Games-bound Indian contingent

 

 

IMPORTANT DAYS

  1. Nelson Mandela International Day – July 18
    • Nelson Mandela International Day 2018 marks 100 years since the birth of Nelson Mandela (18 July 1918).
    • Also known as Mandela Day
    • The day remembers Mandela’s achievements in working towards conflict resolution, democracy, human rights, peace, and reconciliation.

 

 

SPORTS

  1. Sajan won India’s first gold on the opening day of the junior Asian wrestling championships in the 77kg category.
  2. Mysuru’s Sagar S. Kashyap, an AITA official, became the first-ever Indian and Asian to officiate as a chair umpire in Wimbledon — during the junior boys’ singles final.