Current Affairs Update – 23 June, 2017



Hello and welcome to exampundit. Here are the important Current Affairs update of 23 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 – 23 June, 2017

  1. In an effort to help customers keep a better track of all their
    transactions, the Reserve Bank of India (RBI) has asked commercial banks to
    provide sufficient details of all transactions in the passbooks
    . The
    central bank said “It has come to our notice that many banks still do not
    provide adequate details of the transactions in the passbooks and/ or
    statements of account to enable the account holders to cross-check them”. To
    keep a check on the details provided by these banks, the RBI further has
    decided that banks shall provide a minimum amount of relevant details of
    account entries.
  2. The Union Cabinet chaired by the
    Prime Minister Narendra Modi on 22 June 2017 approved amendment of the
    bilateral Social Security Agreement
    (SSA)
    between India and the Netherlands by incorporating the
    ‘Country of Residence’ Principle into the SSA.
  3. The Department of Science and
    Technology (DST) under Ministry of Science and Technology on 22 June 2017
    launched the Visiting Advanced Joint
    Research Faculty (VAJRA) scheme
    in a bid to bring together the Indian
    scientists abroad and India-based researchers for conducting joint researches
    in India.
  4. The Union government on 23 June
    2017 announced another list of 30 cities for development as smart cities under
    Smart City Mission, taking the total tally of cities picked up so far to 90. A
    total investment of Rs. 57,393 Cr has been announced for the development
    project.  The list is topped by Thiruvananthapuram, the capital of
    Kerala, while Chhattisgarh’s new capital Naya Raipur came second.
  5. Meira Kumar, former Lok Sabha speaker was chosen as the
    Congress-led Opposition’s presidential candidate against BJP-led NDA’s Ram Nath
    Kovind.
  6. Haryana was on 22 June 2017 declared as the 5th Open Defecation
    Free (ODF) state of India under the Swachh Bharat Mission Gramin (SBM-G). On
    the same day itself, Uttarakhand was decalred as the 4th state to be open
    defecation free.
  7. The National space agency, Indian
    Space Research Organisation (ISRO), on 23 June 2017 successfully launched
    India’s ‘Cartosat-2 Series’
    satellite and 30 other co-passenger payloads
  8. Urban Development Secretary Rajiv Gauba was named as the next Union
    Home Secretary. He will succeed Rajiv Mehrishi, who will complete his term on
    30 August 2017.
  9. The International Widows’ Day was observed globally on 23 June
    2017. 

Banking & Financial News
RBI’s new directive on details of all transactions in the passbook

  • In an effort to help customers
    keep a better track of all their transactions, the Reserve Bank of India (RBI)
    has asked commercial banks to provide sufficient details of all transactions in
    the passbooks.
  • The central bank said “It has
    come to our notice that many banks still do not provide adequate details of the
    transactions in the passbooks and/ or statements of account to enable the
    account holders to cross-check them”. To keep a check on the details provided
    by these banks, the RBI further has decided that banks shall provide a minimum
    amount of relevant details of account entries.
These are the things one ought to know under RBI’s new directive:

  • The new directive mandates banks
    to provide information about ‘deposit insurance cover’ along with details of
    its coverage limit in the passbooks.
  • This is applicable to all
    commercial banks including branches of foreign banks that operate in India that
    are insured by the deposit insurance and credit guarantee corporation (DICGC).
  • DICGC protects bank deposits in
    the event of a failure. Each depositor is insured up to a maximum of Rs 1 lakh
    for both principal and interest amount held by him/her in the same capacity.
  • The details which bank passbooks
    should provide are as follows: Payment to third parties: i) Name of the payee
    (ii) Mode- Transfer, clearing, inter-branch, RTGS/ NEFT, cash, cheque (number)
    (iii) Name of the transferee bank, if the payment is made through clearing/
    inter-branch transaction/ RTGS/ NEFT.
  • Payment to ‘self’: This should
    indicate “Self” as payee. The name of the ATM/ branch if the payment is made by
    ATM/ another branch
  • Reversal of wrong credits will
    require the date of the original credit entry reversed and reasons for
    reversal, in brief.
  • Cash deposit should be
    highlighted as a “cash deposit”. It would require the name of the depositor
    i.e. self or third party
  • Interest on deposits: (i) Mention
    if the interest is being paid on the Savings Account/ Fixed Deposit (ii)
    Mention the respective Fixed Deposit Account/ Receipt Number if it is interest
    paid on Fixed Deposit(s).
  • Bank charges: i) Mention the
    nature of the charges – fee/ commission/ fine/ penalty etc. (ii) Mention the
    reasons for the charges, in brief – e.g. return of cheque (number), commission/
    fee on draft issued/ remittance (draft number), cheque collection charge (number),
    issuance of cheque book, SMS alerts, ATM fees, additional cash withdrawals,
    etc.
  • Receipt from third parties: (i)
    Name of the remitter/ transferor (ii) Mode-Transfer, inter-branch, RTGS/ NEFT,
    cash, etc. (iii) Name of the transferor bank, if the payment is received
    through inter-branch transaction, RTGS/ NEFT
  • Maturity proceeds of fixed
    deposit/ recurring deposit: i) Name of the Fixed Deposit/ Recurring Deposit
    holder (ii) Fixed Deposit/ Recurring Deposit account/ receipt number (iii) Date
    of maturity.
Union Cabinet approves amendment of Social Security Agreement between
India and Netherlands

  • The Union Cabinet chaired by the
    Prime Minister Narendra Modi on 22 June 2017 approved amendment of the
    bilateral Social Security Agreement (SSA) between India and the Netherlands by
    incorporating the ‘Country of Residence’ Principle into the SSA.
  • The amended SSA between India and
    the Netherlands will strengthen the ties between the two countries, and will
    continue to favourably impact the profitability and competitive position of
    Indian and Dutch companies with foreign operations by reducing their cost of
    doing business abroad.
  • The SSA will also help promote
    more investment flows between the two countries.
  • The amendment in the SSA come
    following the introduction of new rules on export of social security benefits
    to countries outside the European Union by the Netherlands in January 2013.
  • Under the new Social Security
    (Country of Residence) Act, the amount of benefit or allowance paid to a qualified
    beneficiary (Dutch national) is adjusted to the cost of living of the country
    where the beneficiary is currently residing.
  • As per the new Dutch legislation,
    social security benefits when exported or remitted would be indexed to the cost
    of living of the host country where the Dutch citizen resides.
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News related to India and states
Union Government launches VAJRA scheme to attract Indian scientists
abroad

  • The Department of Science and
    Technology (DST) under Ministry of Science and Technology on 22 June 2017
    launched the Visiting Advanced Joint Research Faculty (VAJRA) scheme in a bid
    to bring together the Indian scientists abroad and India-based researchers for
    conducting joint researches in India.
  • The web portal of VAJRA was
    launched by Union Minister of Science and Technology Harsh Vardhan.
Highlights of the scheme

  • Under this scheme, scientists or
    senior researchers abroad of Indian origin can collaborate with faculties here
    in India.
  • Foreign researchers will receive
    endowments at par with those in their own countries.
  • The endowments for faculties
    would be USD 15000 in the first month of residency and USD 10000, for the
    remaining months.
  • The broad areas of research like
    energy, health, advance material and others will be promoted under the scheme.
  • The area of research under taken
    by the Faculty should be of interest to India including translation of science
    to practice. 
  • Faculty can also do teaching or
    mentoring during the period of stay in India. They could also act as mentors of
    start-ups housed at the Institution.
The motive behind the launching
of VAJRA scheme is to bring the best of the world to India and conduct research
here. It aims to convert brain-drain into brain-gain.
Govt announces another 30 cities under Smart City Mission

  • The Union government on 23 June
    2017 announced another list of 30 cities for development as smart cities under
    Smart City Mission, taking the total tally of cities picked up so far to 90.
  • The announcement was made by
    Union Urban Development Minister M Venkaiah Naidu at a National Workshop on
    Urban Transformation, held in New Delhi. On the occasion, the minister stated
    that 45 cities contested for 40 available smart city slots but only 30 were
    selected.
  • A total investment of Rs. 57,393
    Cr has been announced for the development project.
The cities that made it!

  • The list is topped by
    Thiruvananthapuram, the capital of Kerala, while Chhattisgarh’s new capital
    Naya Raipur came second.
  • Rajkot in Gujarat came in the
    third spot.
  • The cities of Patna and
    Muzaffarpur in Bihar too have been selected in this list.
  • Both the capitals of Jammu &
    Kashmir – Jammu and Srinagar, also made it to the list.
  • Uttarakhand’s capital Dehradun
    made it to the list too this time round.
Congress-led opposition names Meira Kumar as presidential nominee

  • Meira Kumar, former Lok Sabha
    speaker was chosen as the Congress-led Opposition’s presidential candidate
    against BJP-led NDA’s Ram Nath Kovind.
  • The announcement was made by
    Congress President Sonia Gandhi on 22 June 2017. The decision was taken in a
    meeting of the opposition which was attended by leaders of 17 parties including
    Left leaders Sitaram Yechury and D. Raja, Nationalist Congress Party leader
    Sharad Pawar, DMK’s Kanimozhi and National Conference’s Omar Abdullah.
  • Speaking on the occasion, CPI(M)
    general secretary Sitaram Yechury said Kumar was the unanimous choice of all
    the 17 parties and that other parties would also be urged to support her.
  • Nitish Kumar’s JD(U), which had
    formally announced its decision to support BJP’s presidential nominee Ram Nath
    Kovind, skipped the meeting, while RLD chief Ajit Singh was present.
Haryana declared as 5th Open Defecation Free state

  • Haryana was on 22 June 2017
    declared as the 5th Open Defecation Free (ODF) state of India under the Swachh
    Bharat Mission Gramin (SBM-G). On the same day itself, Uttarakhand was decalred
    as the 4th state to be open defecation free.
  • The declaration was made by Union
    Minister of Rural Development and Panchayati Raj Narendra Singh Tomar during a
    Swachh Bharat Programme organized in ONGC, Dehradun.
  • With this, Haryana and
    Uttarakhand join the league of Sikkim, Himachal Pradesh and Kerala, which were
    the first three states to be declared as Open Defecation Free.
  • Haryana has 21 districts, 124
    blocks, and 6083 gram panchayats and all of them declared themselves as ODF in
    formal declarations in Chandigarh.
ISRO launches Cartosat-2 along with 30 nano-satellites from Sriharikota

  • The National space agency, Indian
    Space Research Organisation (ISRO), on 23 June 2017 successfully launched
    India’s ‘Cartosat-2 Series’ satellite and 30 other co-passenger payloads. The
    satellite and its co-passengers were launched by its highly reliable polar
    satellite launch vehicle PSLV C-38 from the Satish Dhawan Space Centre,
    Sriharikota at 9.29 am.
  • This was the 40th flight for
    PSLV, the satellite launch vehicle and the 17th flight of PSLV in XL
    configuration with the use of solid strap-on motors.
  • The PSLV C38 rocket carrying
    India’s Cartost-2 Series satellite along with its co-passenger was launched
    after a 28-hour countdown that started at 5.29 hours on 22 June 2017. To give
    enough thrust to carry them to a 505 km sun-synchronous orbit, the rocket was
    armed with solid strap-on motors.
  • The 30 nano-satellites include 29
    belonging to foreign customers from 14 countries and one domestic payload of a
    private educational institution from Kanyakumari district.
  • The principal payload Cartosat-2
    Series weighs 712 kg, whereas all the 30 nano-satellites together weigh 243 kg,
    taking the total weight to 955 kg. The international payloads were launched as
    part of the commercial arrangements made between Antrix Corporation Limited
    (Antrix), the commercial arm of ISRO and international customers.
Appointments
Rajiv Gauba to be next Union Home Secretary

  • The Appointments Committee of the
    Cabinet (ACC) on 21 June 2017 approved various appointments leading to the
    major top-level bureaucratic reshuffle. A total of 16 secretaries were
    appointed for various Union Government Departments.
  • Urban Development Secretary Rajiv
    Gauba was named as the next Union Home Secretary. He will succeed Rajiv
    Mehrishi, who will complete his term on 30 August 2017.
  • Gauba, a 1982 batch IAS officer
    of Jharkhand cadre, will take over as Officer on Special Duty (OSD) in the
    Union Home Ministry with immediate effect.
Other Appointments

  • Durga Shanker Mishra will replace
    Rajiv Gauba as the Urban Development Secretary. He is the Additional Secretary
    in the same ministry.
  • Culture Secretary N K Sinha will
    be the Information and Broadcasting Secretary in place of Ajay Mittal, who will
    now be the DoPT secretary.
  • Executive Director in World Bank
    Subhash C Garg will be the new Department of Economic Affairs Secretary.
Days
International Widows’ Day observed globally

  • The International Widows’ Day was
    observed globally on 23 June 2017. The day is an opportunity for action towards
    achieving full rights and recognition for widows, who have been living with an
    invisible status for too long invisible.
  • The lack of reliable data remains
    one of the main obstacles to developing the policies and programmes to address
    the poverty, violence and discrimination faced by widows.
  • Hence, there is a
    need for more research and statistics separated by marital status, sex and age,
    in order to help reveal the incidence of widow abuse and illustrate the
    situation of widows.

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Team ExamPundit