7 June 2018 Current Affairs For Government Exam

Following is the 7 June 2018 Current Affairs For Government Exam

1. New course under GIAN launched.

NITI Aayog has launched a new course on ‘Urban Analytics – Evaluating and Measuring Sustainability of Cities’ at IIT, Roorkee.
The course was launched under Global Initiative on Academic Network (GIAN).
The course will provide an understanding and analysis on the urbanisation and its impacts that would help in evaluating the conditions of sustainability in Indian cities.

2. Election Commission launches RTI portal.

The Election Commission of India launched an online RTI portal to help applicants seeking information under the Right To Information Act.
The portal can be accessed on the home page of the commission’s website ‘eci.nic.in’.
The portal also facilitates online reply to applications and also for making first appeal and reply thereto.

3. The Madhya Pradesh government has announced a waiver scheme.

The Madhya Pradesh government has announced a waiver scheme for outstanding power bills for labourers and poor families.
The scheme is expected to benefit around 77 lakh people in the state.
The state government also approved a scheme to subsidise electricity for registered labourers of the unorganised sector and Below Poverty Line (BPL) families.

4. ‘fund of funds’ to ensure startup funding: Prime Minister Narendra Modi.

Prime Minister Narendra Modi said the government’s ₹10,000-crore ‘fund of funds’ will ensure that startups get fundings.
He further said as of now the fund has provided an assistance of ₹7,000 crore to startups.
In the long term, the fund is expected to provide a funding of ₹1 lakh crore for startups.

5. India ranks 137th on Global Peace Index 2018.

India has moved up four places to the 137th rank among 163 countries on the 2018 Global Peace Index.
Iceland remains the most peaceful country in the world, a position it has held since 2008.
New Zealand, Austria, Portugal and Denmark also sit in the top five most peaceful rankings.
Syria remains the least peaceful country in the world, a position it has held for the past five years.

6. Geo-Intelligence Asia – 2018.

The Eleventh edition of GeoIntelligence Asia 2018 was held in New Delhi.
The theme of Seminar was ‘GeoSpatial : A Force Multiplier for Defence and Industrial Security’.
The seminar brought together BSF, Police Forces, Government and industry together to examine the latest technology solutions and on the critical role of geospatial technology in military and security applications.

7. WB approves 6,000 crore Atal Bhujal Yojana.

The World Bank has approved Atal Bhujal Yojana (ABHY), a Rs.6000 crore Central Sector Scheme of the Ministry of Water Resources, River Development and Ganga Rejuvenation.
The scheme is to be implemented over a period of five years from 2018-19 to 2022-23.
The scheme aims to improve groundwater management in priority areas in the country through community participation.

8. Insolvency and Bankruptcy Code Ordinance 2018.

The President gave assent to promulgate the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018.
The Ordinance provides significant relief to home buyers by recognizing their status as financial creditors.
This would give them due representation in the Committee of Creditors and make them an integral part of the decision making process.

9. First tropical storm of east Pacific.

The first named tropical storm of the east Pacific hurricane season formed off the coast of Mexico.
“Aletta”, the storm is expected to build to hurricane strength early, the National Hurricane Center in Miami said.
It had maximum sustained winds of 45 mph (75 kph) and was moving west at 8 mph (13 kph).

10. RBI to set up Public Credit Registry.

In a bid to check loan defaults, RBI said that a Public Credit Registry (PCR) will be set up containing information on all borrowers to ensure financial stability.
Following a report by Yeshwant M Deosthalee headed High Level Task Force, RBI said it has considered the recommendations and decided to set up a PCR.
The PCR will serve as a registry of all credit contracts.

11. RBI allows banks to spread MTM losses.

The Reserve Bank allowed banks to spread their mark-to-market (MTM) losses for the June quarter as well.
The central bank had also asked banks to build an Investment Fluctuation Reserve (IFR) of 2% of their holdings.
In April, RBI had given banks an option to spread provisioning for MTM losses recorded on their investment portfolio

12. India-Denmark MoU on sustainable development.

The Union Cabinet apprised the MoU signed between India and Denmark.
The objective of this MoU is to promote bilateral cooperation in the field of sustainable and smart urban development.
It is on the basis of reciprocity and mutual benefit through an exchange of knowledge, institutional cooperation, research.
Under this MoU, a Joint Working Group (JWG) will be set up to strategise.

13. Cabinet approves MoU between India and Oman.

The Union Cabinet approved a MoU signed between India represented by the ISRO and Oman represented by the Ministry of Transport and Communications.
The MoU on Cooperation in the peaceful uses of outer space was signed in February 2018 at Muscat.
This MoU shall enable cooperation in space science, technology, and applications including remote sensing of the earth.

14. Issue of postage stamp between India & Russia.

Cabinet has approved the agreement signed in connection with release of Joint Stamps between Department of Posts, India and Russia Post (MARKA) to establish postal cooperation.
Bilateral relations between India and Russia are marked by broad understanding on issues of mutual interest.
India and Russia enjoy enhanced levels of cooperation in almost all areas of the bilateral relationship.

15. Myanmar, UN sign pact for Rohingyas.

Myanmar and U.N. agencies signed an agreement that might eventually lead to the return of some of the 700,000 Rohingya Muslims.
The MoU signed promises to establish a “framework of cooperation” that aims to create the conditions for “voluntary, safe, dignified and sustainable” repatriation of Rohingya refugees.
The U.N. and U.S. have described the army crackdown as “ethnic cleansing”.

16. World first EPR nuclear reactor begins.

A third generation EPR reactor in China carried out its first nuclear chain reaction, an initial start up which is a world first for the much-delayed European technology.
The European Pressurised Reactor (EPR) in China “carried out its first chain and therefore it has started.
The reactor is not expected to be completed until the mid 2020s.

17. RBI hikes repo rate to 6.25%.

The six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI)  increased the repo rate by 25 basis points to 6.25%.
This is the first rate hike in four-and-a-half years; the last was in January 2014.
The MPC arrived at the unanimous decision as the outlook for inflation had become ‘uncertain’ following a surge in international crude oil prices.

18. RBI tweaks norms to boost housing lending.

The Reserve Bank of India (RBI) has increased the eligibility limit for a loan to classify as priority sector lending in a bid to boost affordable housing.
The move is aimed at giving a fillip to low-cost housing for the economically weaker sections and lower income groups.
For metropolitan areas, loan limits have been raised from Rs. 28 lakh to Rs. 35 lakh.

19. Co-op banks can become small finance banks.

The Reserve Bank of India has decided to allow urban co-operative banks (UCB) to convert into small finance banks (SFB),
The move is aimed at bringing these entities into mainstream banking.
UCBs currently face regulation by both the RBI and the respective State governments.
By turning into SFBs, they will be regulated only by the RBI.

Also read:

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  2.  Daily GK Dose
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  4.  General Studies
  5.  English

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