Current Affairs Update – 17-19 June, 2017



Hello and welcome to exampundit. Here are the important Current Affairs update of 17, 18 and 19 June, 2017. These are important for the upcoming  SBI Clerk 2017, Dena Bank PGDBF, NICL AO Mains and other exams in 2017 July and August.

Current Affairs at a Glance – 17-19 June, 2017

  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. 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.
  3. 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.
  4. 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.
  5. 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.
  6. 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.
  7. 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.
  8. 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.
  9. 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.
  10. 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.
  11. 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.
  12. 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.
  13. 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.
  14. 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.
  15. Pakistan on 18 June 2017 defeated
    India in the final played at The Oval, London to lift the 2017 ICC Champions
    Trophy.
  16. 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’.
  17. 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.
  18. Ramakrishna Math and Ramakrishna
    Mission President Swami Atmasthananda passed away on 18 June
    2017 after a prolonged illness.
  19. 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

  • 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.
  • The bank further added that the
    action by RBI will contribute in improving internal controls and improvement in
    asset quality, profitability and efficiency.
  • Earlier, the RBI had initiated a
    PCA on Central Bank of India, IDBI Bank, Indian Overseas Bank, UCO Bank and
    Dena Bank.
  • 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.
  • 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

  • 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.
  • However, the ATM will also accept
    debit cards swipes for the purpose of cash withdrawal.
  • The high-tech ATM was installed
    in the capital of Telangana, said a press release issued by the bank.
  • 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.
  • 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.
  • The bank also opened three new
    branches in the state at Mancherial, Mothe and Narsapur.
  • 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

  • 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’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.
  • 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.
  • 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

  • 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.
  • 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.
  • Managed and developed by
    International Road Transport Union (IRU), the world road transport
    organisation, TIR is the global standard for goods customs transit.
  • 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.
  • 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.
  • 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.
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Black money: Switzerland ratifies automatic exchange of information
with India

  • 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.
  • 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.
  • The Indian government would soon
    be notified of the exact date from which the automatic exchange would begin.
  • 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.
  • 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.
  • 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.
  • 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

  • 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.
  • 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.
  • 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.
  • 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

  • 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.
  • 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.
  • 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.
  • The MOM went through a
    communication ‘blackout’ as a result of solar conjunction from 2 June 2015 to 2
    July 2015.
  • 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

  • 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.
  • 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).
  • 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).
  • In addition, this additional
    storage would irrigate about 8 lakh hectares and provide drinking water to
    about one crore people.
  • 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’

  • 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.
  • The national mission on cultural
    mapping was launched in a day long, Block level mega talent hunt programme
    (Sanskritik Pratibha Khoj Samaroh).
  • 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.
  • 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

  • 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.
  • 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.
  • 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.
  • Champaran was the first place
    where Mahatma Gandhi staged a satyagraha in 1917 in order to remove the misery
    of the indigo farmers.
  • 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

  • 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 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

  • 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 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.
  • 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.
  • The megastar has been roped in
    just as the rollout of the biggest tax overhaul since independence entered its
    final phase.
  • Ace badminton star PV Sindhu was
    previously the GST ambassador.
  • 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.
  • 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

  • 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.
  • 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.
  • 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.
  • 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.
  • 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

  • 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.
  • The 2017 Indonesia Open Super
    Series Premier title is Srikanth’s third Super Series title.
  • The 2017 Indonesia Super Series
    Premier was the fifth Super Series tournament of the 2017 BWF Super Series.
  • The tournament was held in
    Jakarta, Indonesia and has a total purse of $1000000.
  • The Women’s Singles title of the
    tournament was won by Japan’s Sayaka Sato.
Pakistan beats India to win 2017 ICC Champions Trophy

  • Pakistan on 18 June 2017 defeated
    India in the final played at The Oval, London to lift the 2017 ICC Champions
    Trophy.
  • 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.
  • Pakistan’s Hasan Ali was declared
    the Player of the Series.
  • 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 globally

  • 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 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.
  • 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

  • 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.
  • This year, the World Day to
    Combat Desertification and Drought examined the important link between land
    degradation and migration.
  • The day reminds everyone that
    land degradation neutrality is achievable through problem-solving, strong
    community involvement and co-operation at all levels.
Obituaries
Ramakrishna Mission Chief Swami Atmasthananda passes away

  • Ramakrishna Math and Ramakrishna
    Mission President Swami Atmasthananda passed away on 18 June 2017 after a
    prolonged illness. He was 98.
  • Swami Atmasthananda was elected
    as the President of the Ramakrishna Math and Ramakrishna Mission on 3 December
    2007.
  • He was elected as the 15th
    President of the Ramakrishna Math and the Ramakrishna Mission on 3 December
    2007.
  • 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

  • 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.
  • 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.
  • 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.
  • 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.

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