May 18, 2018

WORD OF THE DAY

 

DISTRIBUTED LEDGER TECHNOLOGY

This is commonly referred to as blockchain, although that’s actually just one example of distributed ledger technology. The attraction of distributed ledgers is in their ability to reliably, securely and transparently access and share targeted sets of data.

Courtesy : Mint  

NATIONAL NEWS

  1. The Himachal Pradesh government will spend 25 crore rupees on renovating and developing the historic British Raj ‘Bantony Castle Estateas a major tourist attraction.
    • The Bantony Castle,owned by a business family and housing the state police headquarters, was acquired by the government for over 27 crores two years ago.
  2. Indian Meteorological Department (IMD) has issued an advisory to Tamil Nadu, Kerala, Karnataka, Goa, Maharashtra and the Lakshadweep archipelago over cyclonic storm ‘SAGAR’.
    • The cyclonic storm lay centred over the Gulf of Aden, about 390 km east-northeast of Yemen’s Aden city. 
  3. 15th Meeting of the Cultural Ministers of the Shanghai Cooperation Organization(SCO) Member States held in Sanya, China.
    • India participated for the first time at the Meeting of Cultural Ministers of the SCO.
    • Member states

Date

Country

26 April 1996

China

Kazakhstan

Kyrgyzstan

Russia

Tajikistan

15 June 2001

Uzbekistan

9 June 2017

India

Pakistan

 

  1. With an objective to conserve water, the Bhusawal Division of Indian Railways has fitted specially designed aerators in basin-taps of Tejas Express.
    • The aerators have minute pores that break the stream of incoming water into fine water sub-streams.
  2. Supreme Court approved Central Government’s draft Cauvery Management Scheme aimed at ensuring smooth distribution of water among Karnataka, Tamil Nadu, Kerala and Puducherry.
  3. Gujarat government will be bearing medical expenses up to Rs 50,000 for each victim of road accident in Gujarat for the first 48 hours, from 18th May 2018.
    • It stated that, even people from other states or countries will receive free treatment in Gujarat, irrespective of their income, if they are victim of a road accident and admitted to a government or a private hospital.
  4. The Minister of State for Housing and Urban Affairs Hardeep Singh Puri has announced the expansion of policies under Deen Antodaya Yojna – National Urban Livelihood Mission (DAY-NULM) in New Delhi.
    • It seeks to reduce poverty and vulnerability of the urban poor through access to gainful self-employment and skilled wage employment opportunities, has expanded its ambit to cover some additional sectors in the informal economy.
    • These initiatives are likely to reduce vulnerability and improve working conditions
  5. The Delhi cabinet gave their approval for procuring 1000 CNG run standard floor buses under cluster scheme
    • Each bus will have three internet protocol (IP) cameras,panic buttons, in-built GPS and anti-skid features
    • The Delhi government acquired 1000 buses for  276 crore .
    • A total of 11000 buses will be acquired 5500 buses each for DTC and cluster scheme of the Delhi government.
  6. India is one of the places where overuse of water resources has led to a serious decline in freshwater availability as per the Scientists of NASA’s Goddard Space Flight Center in the United States
  7. Kolkata based Institute Indian Institute of Science and Research (IISER) has announced a device that would help detect and remove arsenic from water making it safe for human consumption
    • Arsenic Sensor and Removal Media – Name of the Device
    • This has been created by IISER in collaboration with a private company called ‘ADO Additive’.
  8. Indian Railways proposes to charge a fee of Rs 5 – Rs 10 on AC and Chair car tickets that costs more than Rs 500 per trip
    • The decision is yet to be finalized.
  9. According to new guideline issued by Department of Telecom (DoT), e-SIM (Embedded-Subscriber Identity Module) will be installed in the device and details of service providers can be updated in it at the time customer wants to buy a new connection
    • Thus, mobile users do not have to buy a new sim while buying new connection or changing service provider.
  10. Madhya Pradesh based electricity distribution company, DISCOM, has facilitated consumer services through a mobile application “Smart Bijlee”, which allows users to make payments, submit complaints, or apply for a new connection sitting at home.  

DOWNLOAD CURRENT AFFAIRS FOR MAY 18, 2018 AS PDF

 

INTERNATIONAL NEWS

  1. Oil rose to $80 a barrel in London for the first time since 2014 as US crude inventories fell and traders braced for the impact of renewed sanctions on Opec member Iran.

 

BANKING AND ECONOMY

  1. Reserve Bank of India (RBI) has modified the norms for setting up International Financial Services Centres (IFSC) Banking Units (IBUs) by banks.
    • As per the new norm, parent bank will be required to provide and maintain at a minimum capital of USD 20 million in its IBU on an ongoing basis.
    • The modification has been brought in to accommodate suggestions from stakeholders to consider minimum prescribed regulatory capital at the parent level rather than at the IBU level.
    • However, parent bank will be required to provide a Letter of Comfort for extending financial assistance, as and when required, in the form of capital/liquidity support to IBU.
    • The move is expected to expedite entry of more foreign multinational banks at Gujarat International Finance Tec-City (GIFT City), the only International Financial Services Centre (IFSC) in India

 

  1. Reserve Bank of India (RBI) has released final guidelines prescribing 100 percent Net Stable Funding Ratio (NSFR) for banks aimed at maintaining adequate liquidity for more resilience.
    • The NSFR is defined as the amount of available stable funding (ASF) relative to the amount of required stable funding (RSF)
    • NSFR =  Available Standing funds / Required Stable Funding ≥ 100
    • The above ratio should be equal to at least 100% on an ongoing basis
    • Available stable funding” (ASF) is defined as the portion of capital and liabilities expected to be reliable over the time horizon considered by the NSFR, which extends to one year.
    • The amount of stable funding required “Required stable funding” (RSF) of a specific institution is a function of the liquidity characteristics and residual maturities of the various assets held by that institution
    • The NSFR is generally calibrated such that longer-term liabilities are assumed to be more stable than short-term liabilities.

 

  1. As per UN World Economic Situation and Prospects (WESP)as of mid-2018, India’s economy is projected to grow 6 percent in the fiscal year 2018-19.

 

 

APPOINTMENTS

  1. The President of United States Donald Trump nominated Gina Haspel as the first female CIA director
  2. The Zimbabwe Cricket council appointed former Indian Cricketer Mr Lalchand Rajput as the interim head coach of Zimbabwe.
  3. Yudhvir Singh Malik, the Secretary of Ministry of Road, Transport and Highways, has been allotted additional charge of the post of NHAI Chairman
  4. Justice Ramalingam Sudhakar was sworn-in as the Chief Justice of the High Court of Manipur.
  5. Himanta Biswa Sarma, the President of Badminton Association of India (BAI) was unanimously elected as the Vice-President of Badminton Asia Confederation (BAC) at the Annual General Meeting of BAC at Bangkok, Thailand.
  6. Indian academic and foreign policy analyst C Raja Mohan has been appointed as director of the Institute of South Asian Studies, a think tank of National University of Singapore.
  7. Dilip Tirkey has been appointed as Chairman of the Odisha Tourism Development Corporation.
  8. John Visentin has been appointed as the CEO of Xerox Corp.
  9. Sameer Maheshwary has been appointed as the CFO of Zomato

 

IMPORTANT DAYS

  1. On 18th May 2018, International Museum Day was celebrated all over the world.
    • Theme: “Hyperconnected museums: New approaches, new publics”.
  2. Worlds AIDS Vaccination Day – May 18


 

AWARDS

  1. Sridevi was honoured with the TITAN Reginald F Lewis Film Icon Award at the ongoing Cannes Film Festival.
  2. Two case studies published by the IIM Calcutta Case Research Centre have received awards in the 2017 edition of the European Foundation of Management Development case competition.
    • SIMsePAY at YES BANK: Creating Value Through an UnSmart Innovation.’
    • Switch on O’nergy: Social innovation challenges at the bottom of the pyramid”.
  3. State owned NMDC won the S&P Platts award in Corporate Social Responsibility. 

 

MISCELLANEOUS

  1. Eminent Tamil writer Balakumaranpassed away
    • Some of his works include Vazhimayakkam, Mercury Pookkal, Irumbu Kuthiraigal
  2. A Treatise on Cleanliness’ and ‘Waste Management, an Introduction’ are released by M. Venkaiah Naidu which is written by Shri Rajat Bhargava

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