June 20, 2018

WORD OF THE DAY

FINANCIAL RISK

The possibility of shareholders or other financial creditors will lose money invested in a leveraged company if its present cash flow cannot meet financial obligations. When company avails of debt financing, its creditors are repaid before shareholders in case of insolvency

Courtesy: Mint

 

NATIONAL NEWS

  1. Union Minister of Health and Family WelfareShri J P Nadda released the National Health Profile (NHP)-2018 prepared by the Central Bureau of Health Intelligence (CBHI).
    • He also launched the National Health Resource Repository (NHRR) – Country’s first ever national healthcare facility registry of authentic, standardized and updated geo-spatial data of all public and private healthcare establishments.
  1. To boost standardization of products, Minister of Commerce and Industry, Suresh Prabhu announced implementing the Indian National Strategy for Standardization.
    • The objective is to achieve the highest quality standards in production and distribution of goods and services.
  1. Government has set up a Chief Ministers Subgroup to coordinate Policy Approaches for Agriculture and MGNREGS.
    • It has Madhya Pradesh’s CM as Convener.
    • To work in coordination for realizing PM’s vision towards Doubling Farmers’ Income by 2022.
  1. The 11th report of the Common Review Mission of the National Health Mission (NHM) was released and it has stated that, women bear uneven burden in family planning with women accounting for more than 93 per cent of sterilisations in India.
    • The data has been cited from the Health Management Information System (HMIS).
    • As per HMIS in 2017-18 (till October) out of the total 14,73,418 sterilisation procedures only 8 % were male sterilisation and 93.1 % were female sterilization.
  1. The Visva-Bharati University received Rs 5 crore central grant for setting up a ‘Yoga Gram’ in the university campus, in Kolkata.
  2. Haryana government has decided to provide star rankings to its panchayats based on 7 social parameters under Haryana’s 7-Star Gram Panchayat Rainbow scheme.
    • The panchayats will be judged based on sex ratio, education, hygiene, environment preservation, governance and social participation.
    • Ambala topped the star ranking with 407 stars. It was followed by Gurugram with 199 stars and Karnal with 75 stars.
  1. Khadi and Village Industries Commission (KVIC)has adopted Jagatpur village in Delhi for its Swachhata Abhiyaan.
  1. The Ministry of Housing and Urban Poverty Alleviation announced Shillong, capital city of Meghalaya as the 100th Smart City.
  1. The Vice President of India, M. Venkaiah Naidu has received the book “Vedvigyan Alok”(Maharishi Aitareya Mahidas Praneet – Aitareya Brahmina ki Vaigyanik Vyakhya) authored by Acharya Agnivarat Naishthik.
    • The book is divided into four broad volumes. The Book Vedvigyan Alok is the scriptural verse in Vedas’ prose.
  1. Steel Authority of India Ltd (SAIL)has supplied nearly 60,000 tonnes of steel material for the 111-km-long Jiribam-Tupul-Imphal new broad gauge railway project in Manipur.
    • It will become the world’s tallest girder rail bridge in the world.
  1. Nasscomunveiled its ‘Women Wizards Rule Tech’ programme for women techies to support women in being successful and thus increasing the number of women as senior officials in the IT field.
  2. Music composer A R Rahman has been named the Brand Ambassador of Sikkim.
  3. Microsoft has acquired Flipgrid, a video discussion platform, which has over 20 million teachers and students throughout the world as users.
  4. 5G Network-
    • 5G networks are seen launching across the world by 2020.
    • China, South Korea and the US are leading the pack.
    • China may be the biggest 5G market by 2022.
    • In India, a SPECTRUM COMMITTEE has been set up in September to give recommendations on 5G Network.
  1. A study conducted by the International Institute for Applied Systems Analysis (IIASA) and the National Environmental Engineering Research Institute (NEERI) in Nagpur, India, showed that about 60% of the PM2.5 burden in Delhi is due to the neighbouring states.
  1. The Union Human Resource Development Minister,Shri Prakash Javadekar launched the new digital initiative of HRD Ministry ‘National Digital Library of India’ in New Delhi.
    • NDL is the Single Window Platform that collects and collates metadata from premier learning institutions in India and abroad, as well as other relevant sources.
    • It is done as an initiative under “Padhe Bharat Badhe Bharat”.
  1. Peak hour traffic in major Indian cities almost doubles the travel time along some popular routes, reveals data from Uber Movement, which provides anonymised, collated data of rides on its platform.
    • The data also reveals that traffic is often skewed in one direction during a particular time of the day, reflecting that economic activity is often concentrated in a few parts of city.
    • In Delhi, the addition to travel time was 77% along the Gurugram to Delhi highway.
  1. Healthy gross domestic product (GDP) growth, surging stock markets and positive real estate prices helped Indian high net-worth individuals (HNI) report the strongest growth in wealth in the year 2017, according to the World Wealth Report 2018 by Capgemini.
    • India was the fastest growing market in 2017, with a 20.4% HNI population expansion and a 21.6% HNI wealth growth, the report said.
    • HNI population in India expanded to 263,300 in 2017 from 218,600 in the previous year, while HNI wealth grew to $1.06 trillion from $877.4 billion in the previous year.
    • India edged out the Netherlands to take the 11th spot on the pecking order of countries.


INTERNATIONAL NEWS

  1. Amazon founder and CEO Jeff Bezos became the richest man in the world with a net wealth of $141.9 billion, as per the Forbes World’s Billionaires list.
    • Bill Gates, the principal founder of Microsoft Corporation, is the second-richest man in the world with a net wealth of $92.9 billion.
    • Warren Buffet, who is one of the most successful investors in the world, has secured third place with a net wealth of $82.2 billion.
  1. Researchers have discovered the world’s first known natural manta ray nursery, that allows them to observe the Juvenile Manta Ray in their habitat.
    • It is located in the Gulf of Mexico off the coast of Texas at US National Oceanic and Atmospheric Administration (NOAA)’s Flower Garden Banks National Marine Sanctuary.

 

BANKING AND ECONOMY

  1. With a view to promote the Priority Sector Lending guidelines for housing loans with the Affordable Housing Scheme, the RBI has changed the eligibility conditions of the priority sector lending.
  2. For economically Weaker Sections and Low Income Groups the eligibility has been changed as follows:
Previous eligibilityChanged eligibility
From 28 lakh  (for metropolitan cities)To 35 lakh
From 20 lakh   ( for other centres)To 25 lakh
  • The Existing limit of family income of  2 lakhper annum has been changed to to Rs 3 lakh per annum for economically weaker group and Rs . 6 lakh for low income groups.
  • Pradhan Mantri Awas Yojana(PMAY) is an initiative by Government of India in which affordable housing will be provided to the urban poor with a target of building 20 million affordable houses by 31 March 2022.
  • It has two components: Pradhan Mantri Awas Yojana (Urban) (PMAY-U) for the urban poor and Pradhan Mantri Awaas Yojana (Gramin) (PMAY-G and also PMAY-R) for the rural poor.
  • The slogan is “Housing for All’.
  1. UIDAI CEO Ajay Bhushan Pandey said that 18,000 centres have come up for enrolment and updating of the biometric ID.
    • They are called the ‘Bank Aadhaar Kendras’.


IMPORTANT DAYS

  1. On 20th June 2018, World Refugee Day was observed all over the world.
    • The theme for World Refugee Day 2018 is: ‘Now More Than Ever, We Need to Stand with Refugees’.

AWARDS

  1. Anukreethy Vas, a 19-year-old Tamil Nadu college student, has been crowned Femina Miss India 2018 in a grand ceremony in Mumbai.