• Bank of Maharashtra on last Saturday informed the bourses that Reserve Bank of India (RBI) vide its letter dated June 15, 2017, has initiated Prompt Corrective Action against it due to high net NPA.
  • Edging over competitors, DCB Bank launched first of its kind ATM, that will not require a debit card to dispense cash as the machine will instead verify the customer’s Aadhar card details including the iris and the fingerprint of the customer.
  • Lockheed Martin signed an agreement with India’s Tata Advanced Systems on Monday to produce F-16 fighter planes in India, pressing ahead with a plan to shift its Fort Worth, Texas plant to win billions of dollars worth of order from the Indian military.
  • India on Monday said it had ratified the United Nations TIR (Transports Internationaux Routiers) Convention, a move that would ensure a secured supply chain and boost trade.
  • Switzerland on 16 June 2017 ratified the automatic exchange of financial account information with India and 40 other jurisdictions to facilitate immediate sharing of details of suspected black money. The country has, however, sought strict adherence to confidentiality and data security.
  • Bihar Governor Ramnath Kovind will be NDA’s presidential candidate for the upcoming Presidential election. The presidential election is scheduled to be held on 17 July 2017.
  • Mars Orbiter Mission (MOM), ISRO’s maiden interplanetary mission completed 1000 Earth days in its orbit on 19 June 2017, well beyond its designed mission life of six months.
  • Narmada Control Authority (NCA) has cleared the proposal of final raising of the Sardar Sarovar Dam (SSD) in Gujarat by lowering of the gates and impounding of water in the reservoir up to its Full Reservoir Level (FRL) of EL 138.68 meters.
  • Dr Mahesh Sharma, Minister of State (Independent Charge) for Culture & Tourism on 17 June 2017 launched the implementation of the ‘National Mission on Cultural Mapping of India’ at Goverdhan Block, Mathura District of Uttar Pradesh.
  • Vijay Rupani, the Chief Minister of Gujarat flagged off Astha Tourist Train, a special Gandhi Darshan train from Sabarmati railway station on 17 June 2017.
  • Prime Minister Narendra Modi inaugurated the first phase of the Kochi Metro, India’s eighth metro rail service and the first in a tier-II city on 17 June 2017 at an inaugural ceremony held at the Jawaharlal Nehru International Stadium.
  • The government has roped in Bollywood megastar Amitabh Bachchan to promote Goods and Services Tax (GST), ahead of the sweeping tax reform’s implementation scheduled from July 1.
  • The Australian High Commission and Australian Department of Immigration and Border Protection announced on 16 June 2017 that from 1 July 2017, all Indian nationals will be able to apply for visitor visa online.
  • Indian shuttler Kidambi Srikanth on 18 June 2017 clinched the Indonesia Open Men’s Singles trophy with a straight-game victory over Japanese qualifier Kazumasa Sakai in the final.
  • Pakistan on 18 June 2017 defeated India in the final played at The Oval, London to lift the 2017 ICC Champions Trophy.
  • The International Day for the Elimination of Sexual Violence in Conflict was observed globally on 19 June 2017 with the theme ‘Preventing Sexual Violence Crimes through Justice and Deterrence’.
  • The World Day to Combat Desertification and Drought was observed globally on 17 June 2017 with a campaign ‘Our land. Our home. Our Future’ to promote public awareness of international efforts to combat desertification.
  • Ramakrishna Math and Ramakrishna Mission President Swami Atmasthananda passed away on 18 June 2017 after a prolonged illness.
  • Helmut Kohl, former German Chancellor who presided over both German reunification and the creation of the eurozone passed away on 16 June 2016
Banking & Finance News

RBI initiates Prompt Corrective Action against Bank of Maharashtra

  1. Bank of Maharashtra on last Saturday informed the bourses that Reserve Bank of India (RBI) vide its letter dated June 15, 2017, has initiated Prompt Corrective Action against it due to high net NPA.
  2. The bank further added that the action by RBI will contribute in improving internal controls and improvement in asset quality, profitability and efficiency.
  3. Earlier, the RBI had initiated a PCA on Central Bank of India, IDBI Bank, Indian Overseas Bank, UCO Bank and Dena Bank.
  4. The development follows the April 13, 2017, revision of the PCA guidelines by the RBI. In April, the RBI said that capital, asset quality and profitability would be the basis for the PCA framework on which the banks would be monitored and has defined three kinds of risk thresholds.
  5. In a notification issued then, the RBI said mandatory action to be taken when a bank breaches the risk threshold includes restriction on dividend payment, remittance of profits, restriction on branch expansion, higher provisions, restriction on management compensation and director’s fees.

DCB bank launches Aadhaar based iris eye scan customer verification service

  1. Edging over competitors, DCB Bank launched first of its kind ATM, that will not require a debit card to dispense cash as the machine will instead verify the customer’s Aadhar card details including the iris and the fingerprint of the customer.
  2. However, the ATM will also accept debit cards swipes for the purpose of cash withdrawal.
  3. The high-tech ATM was installed in the capital of Telangana, said a press release issued by the bank.
  4. The mid-sized private sector bank, DCB Bank also expanded its operations in the state by opening three new branches in Telangana at Mancherial, Mothe and Narsapur.
  5. The bank said the machine uses a customer’s Aadhaar number for the purpose, through which it scans the iris and fingerprint impression to verify the details of the customer. The new ATM can also accept the normal debit card, though.
  6. The bank also opened three new branches in the state at Mancherial, Mothe and Narsapur.
  7. On the new technology, DCB Bank chief financial officer Bharat Sampat claimed that customers are delighted with the launch of the country’s first Aadhaar-based ATM in the state.

Lockheed Martin signs pact with Tata to make F-16 planes in India

  1. Lockheed Martin signed an agreement with India’s Tata Advanced Systems on Monday to produce F-16 fighter planes in India, pressing ahead with a plan to shift its Fort Worth, Texas plant to win billions of dollars worth of order from the Indian military.
  2. India’s air force needs hundreds of aircraft to replace its Soviet-era fleet, but Prime Minister Narendra Modi’s government has said foreign suppliers would have to make the planes in India with a local partner to help build a domestic industrial base and cut outright imports.
  3. But Modi’s Make-in-India drive runs the risk of conflicting with US President Donald Trump’s America First campaign under which he has been pressing for companies to invest in the United States and create jobs instead of setting up factories abroad.
  4. In announcing their agreement at the Paris Airshow, Lockheed and Tata said moving the production base to India would still retain jobs in the United States.

India ratifies United Nations TIR Convention

  1. India on Monday said it had ratified the United Nations TIR (Transports Internationaux Routiers) Convention, a move that would ensure a secured supply chain and boost trade.
  2. The accession to the TIR Convention is part of India’s multi-modal transport strategy that aims to integrate the economy with global and regional production networks through better connectivity.
  3. Managed and developed by International Road Transport Union (IRU), the world road transport organisation, TIR is the global standard for goods customs transit.
  4. The decision had put India and its neighbours at the centre  of efforts to increase overland trade and regional integration across South Asia and beyond, fast-tracking the region’s potential to become a strategic trade hub, IRU said in a statement.
  5. The TIR system secures customs duties and taxes and provides a robust guarantee mechanism, thereby reducing trade transaction costs, and facilitating higher growth of intra-regional and inter-regional trade.
  6. The United Nations has confirmed that the TIR Convention will come into force in India in six months and IRU will begin work with Indian partners on training, development and outreach efforts to facilitate prompt implementation.

Black money: Switzerland ratifies automatic exchange of information with India

  1. Switzerland on 16 June 2017 ratified the automatic exchange of financial account information with India and 40 other jurisdictions to facilitate immediate sharing of details of suspected black money. The country has, however, sought strict adherence to confidentiality and data security.
  2. Speaking on the development, the Swiss Federal Council said that the implementation has been planned for 2018 and the first set of data should be exchanged in 2019. The Council is the top governing body of the European nation.
  3. The Indian government would soon be notified of the exact date from which the automatic exchange would begin.
  4. As per the draft notification approved by the Council, the decision is not subject to any referendum, which means there should be no further procedural delay in its implementation.
  5. The decision follows hectic discussions between India and Switzerland for the introduction of the Automatic Exchange of Information (AEOI) on tax matters under the guidance of G20, OECD and other global organisations.
  6. The exchange of information itself will be carried out based on the Multilateral Competent Authority Agreement (MCAA) on the Automatic Exchange of Financial Account Information.
  7. The Automatic Exchange of Financial Account Information is in turn based on the international standard for the exchange of information developed by the Organisation for Economic Cooperation and Development (OECD).

News related to India and States

NDA government nominates Bihar Governor Ramnath Kovind as Presidential candidate

  1. Bihar Governor Ramnath Kovind will be NDA’s presidential candidate for the upcoming Presidential election. The presidential election is scheduled to be held on 17 July 2017.
  2. The announcement was made by BJP President Amit Shah in New Delhi after BJP Parliamentary Board meeting, where the name for the leader for the upcoming Presidential election was discussed. Amit Shah said that Kovind has worked hard for the Dalits and backwards section of society.
  3. Kovind, a Dalit leader and a politician from the Bharatiya Janata Party (BJP), is the present Governor of Bihar. He was appointed as the governor of the state by President Pranab Mukherjee on 8 August 2015.
  4. As of 2017, the Electoral College comprises 776 MPs and 4120 MLAs. The total strength of Electoral College is 1098882 votes. Halfway mark is 549442 votes. After state assembly elections and by-polls of 2017, NDA is short of nearly 20000 votes.

 India’s Mars Orbiter, Mangalyaan completes 1000 days in orbit

  1. Mars Orbiter Mission (MOM), ISRO’s maiden interplanetary mission completed 1000 Earth days in its orbit on 19 June 2017, well beyond its designed mission life of six months.
  2. This mission was launched on 5 November 2013 by PSLV-C25 and got inserted into the Martian orbit on 24 September 2014 in its very first attempt.  1000 Earth days corresponds to 973.25 Mars Sols (Martian Solar day) and MOM completed 388 orbits.
  3. The feat was praised globally not just for the mission’s success in the first go but also because it came at a fraction of the cost of similar space missions launched by organisations such as NASA and the European Space Agency.
  4. The MOM went through a communication ‘blackout’ as a result of solar conjunction from 2 June 2015 to 2 July 2015.
  5. MOM was commanded with autonomy features starting from 18 May 2015 that enabled it to survive the communication ‘blackout’ period without any ground commands or intervention.

 Final raising of Sardar Sarovar Dam cleared by Narmada Control Authority

  1. Narmada Control Authority (NCA) has cleared the proposal of final raising of the Sardar Sarovar Dam (SSD) in Gujarat by lowering of the gates and impounding of water in the reservoir up to its Full Reservoir Level (FRL) of EL 138.68 meters.
  2. Before clearing the proposal for raising the Sardar Sarovar Dam, the NCA in its meeting on 16 June 2017 considered all aspects of Environmental and Resettlement and Rehabilitation (R&R) issues. The meet was chaired by Dr. Amarjit Singh, Secretary (WR, RD & GR).
  3. With this lowering of the SSD, the live storage capacity of the dam would increase from 1565 to 5740 million cubic metres (MCM) i.e. by 4175 MCM (267%). Secondly, the clean hydro-power generation will go up by existing 1300 MW to 1450 MW with increase in annual generation by about 1100 Million Units (i.e. about Rs.400/- crore per annum).
  4. In addition, this additional storage would irrigate about 8 lakh hectares and provide drinking water to about one crore people.
  5. As it is well known, the Sardar Sarovar Project would primarily meet the water requirement of drought prone and desert areas of Gujarat and Rajasthan.

 Ministry of Culture launches ‘National Mission on Cultural Mapping of India’

  1. Dr Mahesh Sharma, Minister of State (Independent Charge) for Culture & Tourism on 17 June 2017 launched the implementation of the ‘National Mission on Cultural Mapping of India’ at Goverdhan Block, Mathura District of Uttar Pradesh.
  2. The national mission on cultural mapping was launched in a day long, Block level mega talent hunt programme (Sanskritik Pratibha Khoj Samaroh).
  3. This Mission is part of the ‘Ek Bharat Shreshtha Bharat’ umbrella. Ministry of Culture launched it in the year of commemoration of the birth centenary of Pandit Deen Dayal Upadhyay, who hailed from Mathura.
  4. The mission aims at converting the vast and widespread cultural canvas of India into an objective cultural map, designing a mechanism to fulfil the aspirations of the whole artist community of the nation and preserving the rich cultural heritage of this country in the form of a cultural repository of artists and art forms.

 Special Gandhi Darshan train flagged off to celebrate 100 years of Sabarmati Ashram

  1. Vijay Rupani, the Chief Minister of Gujarat flagged off Astha Tourist Train, a special Gandhi Darshan train from Sabarmati railway station on 17 June 2017.
  2. The train was launched on the occasion of centenary celebrations of the historic Sabarmati Ashram founded by Mahatma Gandhi. It was jointly planned by Indian Railway Catering and Tourism Corporation (IRCTC) and the tourism department of Gujarat government.
  3. Following its departure from Sabarmati railway station in Ahmedabad, the train would be travelling for 10 days (to and fro trip) to Bihar’s Betitah and Motihari, formerly known as Champaran.
  4. Champaran was the first place where Mahatma Gandhi staged a satyagraha in 1917 in order to remove the misery of the indigo farmers.
  5. The 15-coach train has 13 sleeper coaches, a pantry car and two guard coaches with a total passengers capacity of 840 seats.

 PM Narendra Modi inaugurates Kochi Metro

  1. Prime Minister Narendra Modi inaugurated the first phase of the Kochi Metro, India’s eighth metro rail service and the first in a tier-II city on 17 June 2017 at an inaugural ceremony held at the Jawaharlal Nehru International Stadium.
  2. The Prime Minister was joined by other dignitaries including Kerala Governor P Sathasivam, Chief Minister Pinarayi Vijayan, Urban Development Minister Venkaiah Naidu, opposition leader Ramesh Chennithala and Metro Man E Sreedharan. Modi also took a ride on the newly constructed rapid transport from Palarivattom to Pathadippalam.

Key Highlights

  • The total stretch of Kochi Metro will cover 26 km and it will have a total of 22 stations.
  • The first phase, which will cover about 13 km with 11 stations between Palarivattam in Kochi city and Aluva, is the longest first phase of a metro to be inaugurated so far.
  • The metro service is also the first in India to use Communication Based Train Control technology to maximise frequencies and minimise errors.
  • While by road, the time taken to travel from Palarivattom to Aluva is about 45 minutes, the Metro will cover the distance in just 23 minutes.
  • The total cost of the project is estimated to be around Rs 6,000 Cr. It was executed by Delhi Metro Rail Corporation (DMRC) and will be operated by Kochi Metro Rail Limited (KMRL).
  • Each station on the route will showcase a theme such as maritime history, western ghats and the local history of the city.
  • Each station will also have solar panels that will focus on producing 35 per cent of the total power usage.
  • The Metro service would also be the first one to employ transgender people in the stations. It has appointed as many as 23 transgenders for customer service operations and as ground staff.
  • The KMRL has also collaborated with Kudumbashree, a women-empowerment oriented self-help group initiated by the State government, and deployed several women as the frontrunners in the metro operations.
 Appointments

Govt ropes in Amitabh Bachchan as GST brand ambassador

  1. The government has roped in Bollywood megastar Amitabh Bachchan to promote Goods and Services Tax (GST), ahead of the sweeping tax reform’s implementation scheduled from July 1.
  2. The Central Board of Excise and Customs will be making the 74-year-old Bachchan the brand ambassador for GST. A 40-second video featuring him has already been shot and is being circulated.
  3. In the video, Bachchan explains GST as a unifying force just like the three colours in the national flag. GST is an initiative to create ‘one nation, one tax, one market’, he says.
  4. The megastar has been roped in just as the rollout of the biggest tax overhaul since independence entered its final phase.
  5. Ace badminton star PV Sindhu was previously the GST ambassador.
  6. GST will simplify a web of taxes, regulations and border levies by subsuming an array of central and state levies including excise duty, service tax and VAT.
  7. It is being dubbed as the most significant economic reform since BJP government came to power in 2014 and is expected to add as much as 2 percentage points to the GDP growth rate.
World News

Australia announces online visa applications for Indians from 1 July

  1. The Australian High Commission and Australian Department of Immigration and Border Protection announced on 16 June 2017 that from 1 July 2017, all Indian nationals will be able to apply for visitor visa online.
  2. Speaking on the development, Australia’s Assistant Minister for Immigration and Border Protection, Alex Hawke, said that the online application option would make applying for the country’s visitor visa easier for Indians and thus enhance their overall experience.
  3. According to an official statement by the Australian government, there has been a significant increase in demand for Australian visas in India with the rising popularity of Australia as a holiday destination.
  4. The Australian Department of Immigration and Border Protection granted more than 65000 visitor visas to Indian nationals in the first four months of 2017 alone.
  5. Indians would be able to make the online applications through the department’s ImmiAccount portal.
Sports News

Kidambi Srikanth beats Kazumasa Sakai to win Indonesia Open Super Series Premier title

  1. Indian shuttler Kidambi Srikanth on 18 June 2017 clinched the Indonesia Open Men’s Singles trophy with a straight-game victory over Japanese qualifier Kazumasa Sakai in the final.
  2. The 2017 Indonesia Open Super Series Premier title is Srikanth’s third Super Series title.
  3. The 2017 Indonesia Super Series Premier was the fifth Super Series tournament of the 2017 BWF Super Series.
  4. The tournament was held in Jakarta, Indonesia and has a total purse of $1000000.
  5. The Women’s Singles title of the tournament was won by Japan’s Sayaka Sato.

 Pakistan beats India to win 2017 ICC Champions Trophy

  1. Pakistan on 18 June 2017 defeated India in the final played at The Oval, London to lift the 2017 ICC Champions Trophy.
  2. Pakistan won the trophy by 180 runs. The margin of victory was the largest by any team in the final of an ICC ODI tournament.
  3. Pakistan’s Hasan Ali was declared the Player of the Series.
  4. India is scheduled to host the 2021 ICC Champions Trophy. However, it is uncertain if the tournament will take place. The ICC has proposed starting an ODI League in 2019. If the new league is introduced, the 2021 tournament may be cancelled.
Days

International Day for the Elimination of Sexual Violence in Conflict observed global

  1. The International Day for the Elimination of Sexual Violence in Conflict was observed globally on 19 June 2017 with the theme ‘Preventing Sexual Violence Crimes through Justice and Deterrence’.
  2. The United Nations will be hosting a panel discussion to commemorate the day at its headquarters in New York on 20 June 2017. The common public would be able to follow the conversation on social media with the hashtag #EndRapeinWar.
  3. The United Nations General Assembly on 19 June 2015 proclaimed the day as the International Day for the Elimination of Sexual Violence in Conflict.

World Day to Combat Desertification and Drought 2017 observed globally

  1. The World Day to Combat Desertification and Drought was observed globally on 17 June 2017 with a campaign ‘Our land. Our home. Our Future’ to promote public awareness of international efforts to combat desertification.
  2. This year, the World Day to Combat Desertification and Drought examined the important link between land degradation and migration.
  3. The day reminds everyone that land degradation neutrality is achievable through problem-solving, strong community involvement and co-operation at all levels.

Ramakrishna Mission Chief Swami Atmasthananda passes away

  1. Ramakrishna Math and Ramakrishna Mission President Swami Atmasthananda passed away on 18 June 2017 after a prolonged illness. He was 98.
  2. Swami Atmasthananda was elected as the President of the Ramakrishna Math and Ramakrishna Mission on 3 December 2007.
  3. He was elected as the 15th President of the Ramakrishna Math and the Ramakrishna Mission on 3 December 2007.
  4. Ramakrishna Mission is an Indian religious organization, which forms the core of a worldwide spiritual movement known as the Ramakrishna Movement or the Vedanta Movement.

Architect of Germany’s re-unification, Helmut Kohl passes away

  1. Helmut Kohl, former German Chancellor who presided over both German reunification and the creation of the eurozone passed away on 16 June 2016. He was 87.
  2. Kohl passed away at his house in Ludwigshafen, in the western state of Rhineland-Palatinate, Germany. He was a West German politician who served as chancellor of West Germany and later as the chancellor of a unified Germany from 1982 to 1998. He was one of the main drivers of the unification of Germany and the Maastricht Treaty for European unity.
  3. European Commission chief Jean-Claude Juncker has ordered flags at EU institutions to be flown at half-mast to pay homage to the late political stalwart.
  4. Speaking on her mentor, German Chancellor Angela Merkel said that Kohl was the right man at the right time, who seized a historic chance to overcome the divide running through Europe.
Top Current Affairs For Preparing Government Jobs 17 To 19 June 2017 was last modified: June 20th, 2017 by Rishabh Singh

Post by Author -: Rishabh Singh | Official Website:- www.govtjoblive.com