June 9, 2018

NATIONAL NEWS

  1. The 18th Shanghai Cooperation Organisation (SCO) summit will be held in Qingdao, China.
    • This will be India’s first participation in the summit as a full-time member of the organization
    • India, along with Pakistan, became a full-time member during the Astana summit in June 2017
    • The Qingdao declaration calls for implementing three-year plan to combat terrorism, separatism and extremism.
    • It also calls for implementation of treaty on long-term good neighbourliness, friendship and co-operation.

 

  1. The mass movement of the largest behaviour change programme Swachh Bharat Mission has crossed the 85% mark in achieving its goal
    • Through mobilization of rural communities, 4 crore toilets have been built across rural India, and as an outcome, over 3.8 lakh villages and 391 districts have been declared Open Defecation Free (ODF).
    • Swachh Bharat Mission was launched in 2014by the Modi Government to clean up street, roads and make cities and rural areas cleaner and to eradicate open defecation completely.
    • The government aims to achieve these goals by October 2,  2019 which will be commemorated as the 150th  anniversary of the birth of Mahatma Gandhi.
    • IHHL – Individual Household Latrine

 

  1. The Ministry of Health and Family Welfare, India, has launched a national media campaign to encourage smoking cessation, at an event held at World Health Organisation.
    • The public service announcement (PSA) is titled ‘What Damage Will This Cigarette/Bidi Do’
    • The campaign highlights the theme of 2018 World No Tobacco Day (“tobacco and heart disease”).
    • Vital Strategies offered technical support for this campaign.
    • The campaign will be broadcast in 17 languages on all major national government and private TV and radio channels.
    • According to The Tobacco Atlas, over 9 lakh Indians die due to tobacco-related diseases every year

 

  1. Odisha government signed a MoU with Hyderabad-based Pullela Gopichand Badminton Foundation (PGBF) for setting up of P Gopichand Badminton Academy in Odisha.
    • Odisha government will offer complete financial support for the proposed badminton academy.

 

  1. Arunachal Pradesh Chief Minister Pema Khandu launched the Arunachal Rising Campaign.
    • It was launched to create awareness among people about the government initiatives, policies and programmes.
    • The campaign will spread information through various media like tools print, social media, audio-visual mode and other innovative techniques.
    • A web portal www.arunachalmonitoring.com and mobile apps that have been developed by the Department of Finance, Planning and Investment were launched.
  1. ONGC Videsh Ltd. received its first equity oil from Abu Dhabi’s Lower Zakum
  1. World Intellectual Property Organization (WIPO) has notified declaration submitted by Indian relating to Article II and III of Appendix to Paris Act (1971) related to Berne Convention for Protection of Literary and Artistic Works.
    • It will enable India to avail itself facilities provided for Article II and III of the Appendix to Berne Convention during 10 years period that will expire, on October 10, 2024.
    • Berne Convention for the Protection of Literary and Artistic Works (Berne Convention) is international copyright agreement that mandates equal treatment of copyrighted works by signatories, known as Berne Union
  1. India’s first indigenous, long-range artillery gun Dhanush has successfully passed its final test at Pokhran, Rajasthan
    • This paves its way for induction into Indian Army
    • It has been developed by Ordnance Factory Board (OFB), Kolkata based on requirements of Indian Army and manufactured by Jabalpur-based Gun Carriage Factory (GCF)
  1. The Central Government has decided to raise five Indian Reserve Police (IRP) battalions in Jammu and Kashmir (J&K) with an aim to provide jobs to local youths.
    • The five IRP battalions in J&K will have over 5,000 personnel in which 60% reservation will be given to people living in zero to 10 km range from the border.
    • Besides, two female battalions comprising 1,000 women personnel will also be created.

 

DOWNLOAD THE CURRENT AFFAIRS FOR JUNE 9, 2018 AS PDF

 

INTERNATIONAL AFFAIRS

  1. The UN General Assembly elected South Africa, Indonesia, Dominican Republic, Germany and Belgium as non-permanent members of the Security Council for term of two years starting from 1st January 2019
    • The voting was to fill the seats that will be vacated by Bolivia, Ethiopia, Kazakhstan and Sweden in 2018.ic

BANKING AND ECONOMY

  1. Following RBI’s decision to raise the repo rate to 25 basis points, the following banks have raised their MCLR rates as well.
    • Oriental Bank of Commerce
      1. The bank has raised its MCLRs by 10 to 15 basis points for various tenors
TenureRaised by (in basis points)Increased % of interest
Overnight8.30%
One month158.35%
Three Months108.40%
Six Months158.60%
One year158.65%
  1. The bank has raised its MCLRs by 10 basis points.
TenureIncrease by (basis points)Latest rate of Interest
Overnight107.90
One – Month108.20
Three months108.30
Six months108.45
One year108.50

 

  • The Reserve Bank of India has brought a new methodology of setting lending rate by commercial banks under the name Marginal Cost of Funds based Lending Rate (MCLR). It has modified the existing base rate system from April 2016 onwards.
  • As per the new guidelines by the RBI, banks have to prepare Marginal Cost of Funds based Lending Rate (MCLR) which will be the internal benchmark lending rates. Based upon this MCLR, the interest rate for different types of customers should be fixed in accordance with their riskiness. The base rate will be now determined on the basis of the MCLR calculation.
  • The MCLR should be revised monthly by considering some new factors including the repo rate and other borrowing rates.
  • As per the new guidelines, banks have to set five benchmark rates for different tenure or time periods ranging from overnight (one day) rates to one year.

 

  1. Yes Bank has launched a first of a kind new deposit scheme to fetch  1000 crore from the scheme.
    • It is the first of many green retail products to be launched by the bank
    • This scheme is called ‘Green Future: Deposit”.
    • This would provide a peak interest of 5%and has a tenure of 18 months 8 days to 18 months 18 days.
    • For senior citizens, it would provide 8%
    • It has also launched a pilot project for recycled dry waste generated at facilities and has recycled close to 9.5 tonne of dry waste, resulting in 27.35 MT of carbon footprint reduction every quarter.

 

APPOINTMENTS

  1. Bandhan Bank appointed former RBI deputy governor Harun Rashid Khan as Non- Executive part-time Chairman.

 

 

AWARDS

  1. Kamila Shamsie’s book “Home Fire” has bagged the Women’s Prize for Fiction, 2018.
    • Kamila Shamsie is a British Pakistani author.

 

MISCELLANEOUS

  1. David Douglas Duncan, a photographer who changed the role of war photography by projecting the sufferings of soldiers in Korea and Vietnam, passed away in France.
  2. Maria Bueno, a popular Brazilian tennis player, passed away
    • She was called by the nickname the “Sao Paulo Swallow” and was considered the Brazilian “queen” of tennis.

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