Current Affairs Update – 30 June, 2017

Hello and welcome to exampundit. Here are the Important Current Affairs of 30 June, 2017. These are important for the upcoming IBPS RRB OS-I, Office Assistant, IBPS PO, Dena Bank PGDBF, NABARD Grade A Recruitment Exam 2017.

Banking & Financial News
Asian Development Bank has pledged USD 10 billion for development
projects in India

  • The Asian Development Bank (ADB)
    on 29 June 2017 committed USD 10 billion support for infrastructure building
    and immediate development needs of less-developed states in India.
  • The Manila-based multi-lateral
    funding agency also decided to increase the annual funding to the country by
    USD 1 billion to USD 4 billion. ADB expects India to grow by 7.4 percent in the
    current financial year and 7.6 percent in 2018-19.
  • Elaborating further, ADB’s
    President Takehiko Nakao said that the agency stands ready to meet immediate
    development needs of up to USD 5 billion over the five-year period for less
    developed states, including Uttar Pradesh, Bihar, Jharkhand, Odisha and
    Chhattisgarh.He also confirmed that with ADB assistance, strategic planning for
    economic corridors is rapidly progressing.
  • The funding agency is prepared to
    invest up to USD 5 billion during 2018-2022 for infrastructure building to
    develop the East Coast Economic Corridor. The main objective is to achieve high
    and inclusive economic growth.
  • Nakao praised progress by the
    government on attracting investments in manufacturing industries in the
    Corridor. He said that several reform measures introduced by the government for
    rationalising tax structure, boosting competitiveness and easing foreign direct
    investment norms in crucial sectors like infrastructure will boost growth.
  • He added that further reforms
    both at central and state levels for improving efficiency in the land and
    labour markets and strengthening the banking sector will also contribute to the
    economy.

YES Bank launches tailor-made programme to help MSMEs with GST

  • Private Sector Lender, Yes Bank,
    along with YES Global Institute has launched ‘YES GST’ program for MSMEs under
    its MSME CSR initiative, ‘Say YES to Sustainable MSMEs in India’.
  • Through the program, the bank
    will help MSMEs understand the impact of the proposed changes and prepare them
    for migration to the new GST tax system. Yes Bank in line with its Responsible
    Banking ethos is committed to supporting the MSME sector and giving it the much
    needed thrust to put it on a sustainable growth path.
  • In addition to MSMEs, the
    campaign will also target Chartered Accountants who are an important
    stakeholder in the journey for the MSMEs, and Yes Bank employees, who will be
    made GST ready to support these MSMEs.
  • Yes Bank has initiated the
    programme on the back of findings of its nationwide survey with 100 MSMEs. The
    survey, among others showed that one in every two MSME owners is not aware of
    the impact of GST on their businesses and nine out of 10 MSME owners are not
    fully aware of the changes needed to comply with GST.

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DDA launches Housing Scheme 2017 with 13000 flats

  • The Delhi Development Authority’s
    much-awaited new housing scheme that includes construction and delivery of
    around 13000 houses was launched on 30 June 2017.
  • The scheme has been linked with
    the Pradhanmantri Awas Yojna, which means that people fulfilling the criteria
    will get a subsidy in the interest when they take a bank loan.
  • Interested applicants can apply
    through both online and offline modes.
  • The first step involves
    collection of a brochure that costs between Rs 150- 200 from the DDA sales
    counter located at Vikas Sadan in New Delhi.
  • Brochures can also be collected
    from select branches of banks appointed by the DDA including Bank of Baroda,
    Yes Bank, Axis Bank, IDBI Bank, Kotak Mahindra, State Bank of India, Central
    Bank and HDFC.
  • The forms and brochures will be
    available at the select bank branches in Delhi from 30 June to 9 August.
  • Among the total number of flats,
    most of them in Rohini, Dwarka, Narela, Vasant Kunj and Jasola, 10000
    unoccupied flats are from the 2014 housing scheme.

Indians’ money in Swiss banks down to CHF 676 mn: Switzerlands central
bank data
  • Amid the continuing clampdown on
    the suspected black money stashed behind the framed secrecy walls, a data
    published on 29 June 2017 says that money parked by Indians in the banks of
    Switzerland has nearly halved to 676 Swiss francs (about Rs 4500 crore) in
    2016. The data was released by Switzerland’s central banking authority SNB
    (Swiss National Bank).
  • SNB published the figures for
    2016 as part of its annual Banks in Switzerland Report.
  • In comparison, the data reveals
    that the total funds held by all foreign clients of Swiss Banks rose to CHF
    1.42 trillion (about Rs 96 lakh crore) from CHF 1.41 trillion in 2015.
  • The data says that at the end of
    2016, the total funds held by Indian directly with Swiss Banks stood at CHF
    664.8 million, while the same held through fiduciaries was near $11 million.
  • During the year 2016, the total
    money of Indians fell by 45 per cent to CHF 675.75 million, marking the biggest
    ever yearly decline in such funds.
  • This included nearly CHF 377
    million in form of customer deposits, about CHF 98 million owed to Indians
    through other banks and CHF 190 million in form of other ‘liabilities’
  • The SNB data showed that the
    figures fell sharply across all categories in 2016.
  • This is the lowest amount of
    funds held by Indians in the Swiss banks ever since the Alpine nation began
    making the data public in 1987 and marks the third straight year of decline.

News related India & States
Union Government launched National Biopharma Mission
  • The Cabinet Minister for Science
    and Technology, Earth Sciences, Environment, Forests and Climate Change, Harsh
    Vardhan, on 30 June 2017 launched a first ever Industry-Academia mission.
  • The National Biopharma Mission
    was launched to accelerate biopharmaceutical development in India.
  • Under the Mission, the government
    launched a programme named Innovate in India (i3) that will witness an
    investment of USD 250 million with USD 125 million as a loan from World Bank.
  • The i3 aims to create an enabling
    ecosystem to promote entrepreneurship and indigenous manufacturing in the
    sector.
  • The aim of the Mission is to
    enable and nurture an ecosystem for preparing India’s technological and product
    development capabilities in biopharmaceuticals to a level that will be globally
    competitive over the next decade.
  • It also looks forward to
    transform the health standards of India’s population through affordable product
    development.
  • The Mission will provide a
    holistic and integrated approach to strengthen and support the entire product
    development value chain for accelerating the research leads to product
    development. It will help not only in immediate product development addressing
    public health needs, but will also help to create an ecosystem which will facilitate
    development of a continuous pipeline of products.

NALSA launches web application for free legal services to prisoners
  • National Legal Services Authority
    (NALSA) on 29 June 2017 launched a web application for free legal services to
    prisoners and the Legal Services Management System. NALSA is entrusted with the
    responsibility to provide legal aid inter-alia to all persons in custody.
  • The web application was launched
    by Justice Dipak Misra, Judge at Supreme Court of India and Executive Chairman
    of NALSA.
  • Through this web application, the
    State Legal Services Authorities and District Legal Services Authorities can
    feed the data for each individual prison inmate in the jails within their
    jurisdiction, with regard to their being represented through a counsel in the
    court.
  • The software will be able to
    generate reports showing total number of inmates, number of inmates
    unrepresented, number of inmates represented by legal services lawyers and
    number of inmates represented by private lawyers.

PM Modi and world leaders to discuss counter-terrorism at G20 Summit

  • Leaders of the world’s 20 largest
    economies will be converging at the upcoming 12th G20 Summit on 7-8 July 2017
    at Hamburg, a major port city in northern Germany. The topics that are expected
    to dominate the discussion include counter-terrorism and economic reforms.
  • The Indian delegation at the
    summit would be led by Prime Minister Narendra Modi. Some members of the
    delegation include NITI Aayog vice-chairman, India’s G20 Sherpa Arvind
    Panagariya and the Department Of Economic Affairs Secretary.
  • The theme of the summit this year
    is shaping an interconnected world and it has been mainly organised around
    three pillars- Stability, Sustainability and Responsibility. So besides
    terrorism, the platform is also expected to initiate discussions on issues such
    as free and open trade, environment, climate change, migration, sustainable
    development and global stability.

Appointments
Narendra Kumar Sinha assumes charge as Secretary in I&B Ministry
  • Narendra Kumar Sinha, a
    1980-batch IAS officer from Bihar, took over as Secretary in the Ministry of
    Information & Broadcasting on 30 June 2017.
  • Sinha would be succeeding IAS
    officer Ajay Mittal who is getting a transfer. Prior to his appointment, Sinha
    was serving as the Secretary in the Ministry of Culture under Government of
    India.

Reports
NSSO releases report titled Key Indicators of Unincorporated
Non-Agricultural Enterprises in India
  • The National Sample Survey Office
    (NSSO) under Union Ministry of Statistics and Programme Implementation on 29
    June 2017 released the report titled ‘Key Indicators of Unincorporated
    Non-Agricultural Enterprises (Excluding Construction) in India’.
  • The Report was released based on
    the information collected under 73rd round of its survey conducted during July
    2015 to June 2016 as a follow-up survey of the 6th Economic Census. 
  • The survey was designed to
    generate various estimates on the operational and economic characteristics of
    the unincorporated non-agricultural enterprises in industry sectors of
    manufacturing, trading and other services such as type of enterprises,
    employment particulars, operating expenses, etc.
  • The survey covered
    non-agricultural enterprises which are not incorporated  or not registered under Companies Act, 1956.
  • The categories of enterprises
    under the coverage of survey included proprietary and partnership enterprises
    (excluding limited liability partnerships), Self Help Groups (SHGs), Non-Profit
    Institutions (NPIs) and Trusts etc.

Estimated number of Enterprises
  • During 2015-16, 6.34 crore
    unincorporated non-agricultural enterprises (excluding construction) were
    estimated at all India level.
  • Out of the total estimated number
    of enterprises at all India level, 31 per cent were engaged in manufacturing,
    36.3 per cent were in trading and 32.6 per cent were in other services sector.
  • Out of the total number of
    unincorporated non-agricultural enterprises, about 51 per cent were located in
    rural areas and 49 per cent were located in urban areas.

Estimated number of Workers
  • The survey revealed that about
    11.13 crore workers were engaged in unincorporated non-agricultural enterprises
    (excluding construction) in the country during 2015-16.
  • Out of the total number of
    workers, 34.8 per cent were engaged in trading, 32.8 per cent were in other
    services and 32.4 per cent were in manufacturing.
  • Among the total number of workers
    estimated, 55 per cent worked in urban areas and 45 per cent worked in rural
    areas.
  • OAEs accounted for 62 per cent of
    the workforce in unincorporated non-agricultural sector (excluding
    construction) in the country.

World News
Indian-origin boy Arnav Sharma gets 162 IQ points, more than Einstein
and Hawking
  • Arnav Sharma, an 11-year-old
    Indian-origin boy in the United Kingdom, secured the top possible score of 162
    on a Mensa IQ test.
  • Sharma secured two points higher
    than physicist Albert Einstein and astrophysicist Stephen Hawking, making him
    one of the brainiest children in the country.
  • The Indian-origin boy passed the
    infamously difficult test a few weeks back with zero preparation. In fact, he
    had never seen what a typical paper looked like before taking it.
  • Sharma’s score in the exam, which
    primarily measures verbal reasoning ability, puts him in the top one per cent
    of the nation in terms of IQ level.

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Team ExamPundit