Current Affairs Update – 27-29 May, 2017

Hello and welcome to exampundit. Here are the important Current Affairs update of 27-29 May, 2017. These are important for the upcoming  RBI Grade B Phase I, Dena Bank PGDBF, NICL AO Mains and other exams in 2017 July and August.

Current Affairs at a Glance – 27-29 May, 2017

  1. ICICI Bank on Monday launched a
    new website and mobile application called “Money2India
    (M2I) – an online money transfer service for Non-Resident Indians (NRIs).
  2. Federal Bank, in association with
    Geojit, has launched a new trading platform called “Selfie” for customers.
  3. HP India and KPMG in India have
    joined hands to launch a comprehensive ‘GST
    solution’
    to help transition millions of traders and micro, small and
    medium enterprises (MSMEs) to Goods and Services Tax (GST) regime.
  4. India has hosted a two-day Pacific Islands Conference in Suva, the
    capital city of Fiji. The India-Pacific Islands Sustainable Development
    Conference held between 25 and 26 May 2017 was hosted by Ministry of External
    Affairs.
  5. India and Mauritius on
    27 May 2017 signed four agreements including maritime security, marine science
    and technology. These agreements will help the two nations to boost the bilateral
    relation between them.
  6. The cyclonic storm MORA is about to strike East-Central
    Bay of Bengal, as predicted by India Meteorological Department (IMD) on 29 may
    2017.
  7. Union Urban Development Minister
    Venkaiah Naidu on 28 May 2017 flagged off the first train of the Delhi Metro’s Heritage Line. The train
    will now be open for public.
  8. Union Defence Minister Arun
    Jaitley on 28 May 2017 inaugurated the newly built Aeronautical Test Range (ATR) of the Defence Research
    & Development Organisation (DRDO) at Chitradurga in Karnataka.
  9. Maharashtra Chief Minister Devendra
    Fadnavis on 26 May 2017 inaugurated India’s
    first Electric Mass Transport Project in Nagpur.
    The pilot project
    envisages a fleet of 200 electric-powered public transport vehicles which will
    run on Ola Cabs’ app platform in Nagpur.
  10. The Indian Space Research
    Organisation (ISRO) will be launching the heaviest rocket ever made by India,
    the Geosynchronous Satellite Launch Vehicle Mark III (GSLV Mk- III) on 5 June
    2017. The rocket, called the ‘Fat Boy’, reportedly weighs as much as 200
    full-grown Asian elephants.
  11. Incumbent Governor of Manipur, Najma Heptulla, was appointed as the Chancellor of Jamia Millia Islamia
    on 29 May 2017.
  12. South Korea on 28 May
    2017 defeated China to lift their fourth Sudirman Cup title at Gold Coast,
    Queensland, Australia.
  13. The International Day of United Nations Peacekeepers 2017 was observed
    on 29 May 2017 with the theme Investing in Peace around the world.
  14. International icon Priyanka Chopra will be receiving the prestigious Dadasaheb Phalke Academy
    Award on 1 June 2017 in an awards ceremony conducted in Mumbai.
  15. Satyabrata Rout on 29
    May 2017 was selected for the Sangeet Natak Akademi Puraskar for the year 2016.
  16. Construction began on 26 May 2017
    on the European Extremely Large
    Telescope (ELT),
    which when completed will be the world’s largest optical
    telescope. The telescope will be located in Chile’s Atacama Desert.
  17. One of the most iconic wonders in
    the world, Taj Mahal has become the only Indian monument to figure in the world’s
    top 10 Travellers’ Choice awards for Landmarks. The historic monument was
    ranked at the fifth position in the list. The top spot was clinched by the
    world’s largest religious monument- Angkor Wat in Cambodia.

Banking & Financial News
ICICI Bank Launches Global Payments Platform Money2India

  • ICICI Bank on Monday launched a
    new website and mobile application called “Money2India” (M2I) – an online money
    transfer service for Non-Resident Indians (NRIs).
  • Chanda Kochhar, MD & CEO of
    ICICI Bank said, “The Money2India website and mobile app have been
    significantly enhanced to provide ease of sending money to India. It allows
    registered NRI customers to transfer money to India in just 3 clicks if it is frequently
    transferred.”
Here are key features of the newly launched M2I:

  • Transfer can be possible in just
    three easy clicks for customers who have been making frequent transactions.
  • The mobile app of M2I can be
    accessed through biometric authentication in addition to the login ID and
    password. The application is available on any Android and iOS phones.
  • M2I website also offers an option
    to pay bills and other expenses directly to over 100 entities – which includes
    payments like utility, telephone, insurance and prepaid mobile recharge among
    others.
  • Also, NRIs who are customer of
    any bank globally can opt this M2I website for transferring money to any bank
    situated in India.
  • New users can initiate a money
    transfer instantly with the help of a simple one-time registration. The simple
    transaction flow makes it easy even for a first time user to transact.       
Federal Bank launches new trading platform “Selfie”

  • Federal Bank, in association with
    Geojit, has launched a new trading platform called “Selfie” for customers.
  • Designed and managed by Geojit,
    the trading platform will give its users absolute control over their
    investments with timely research inputs to make sound investment decisions. The
    tablet edition of Selfie for Android and IOS users is available in app stores
    for download.
  • The features of the Selfie
    Trading Platform are a uniform experience across multiple platforms and devices
    and an advanced charting platform that enables users to trade directly from
    charts, among others
  • The live portfolio of investments
    helps users to arrive at quick decisions, a press release said.
HP India, KPMG launch ‘GST solution’ for traders, MSMEs

  • HP India and KPMG in India have
    joined hands to launch a comprehensive ‘GST solution’ to help transition
    millions of traders and micro, small and medium enterprises (MSMEs) to Goods
    and Services Tax (GST) regime.
  • The ‘GST solution’ has the
    capability to support users to file all their transactions as per the new tax
    norms in a convenient manner and also reduce the invoice reconciliation requirement
    of large companies.
  • Ensuring business continuity to
    users, HP will also enable specialised help desk support of tax experts on
    call, email and chat for GST-related queries and operational assistance.
  • Commenting on the launch, Sumeer
    Chandra, Managing Director, HP India, said “GST is a major tax reform and
    we are confident that the GST invoicing solution from HP and KPMG will enable
    traders and MSMEs in the country make a smooth transition to the new tax regime
    and enhance their contribution to India’s economic growth.”
  • Arun Kumar, Chairman & CEO,
    KPMG in India, said that to implement GST, six million MSMEs need to adapt
    their invoicing approach, which is an enormous endeavour.
8 MoUs signed at India-Pacific Islands Sustainable Development
Conference

  • India has hosted a two-day
    Pacific Islands Conference in Suva, the capital city of Fiji. The India-Pacific
    Islands Sustainable Development Conference held between 25 and 26 May 2017 was
    hosted by Ministry of External Affairs.
  • The conference that was
    inaugurated by the Acting Fijian Prime Minister Aiyaz Sayed- Khaiyum saw the
    signing of eight MoUs on the day of inauguration. These MoUs were signed on 25
    May 2017 by five participating nations, namely Fiji, Cook Islands, Nauru, Samoa
    and Niue.
  • On behalf of India, the inaugural
    session of the conference was addressed by Gen. (Dr) V.K. Singh (Retd),
    Minister of State for External Affairs.
MoUs

  1. MOU for cooperation on
    broadcasting between Prasar Bharti, New Delhi, India and Fiji Broadcasting
    Corporation for Exchange of Audio Visual Programmes.
  2. MoU between Ministry of New and
    Renewable Energy of the Government of the Republic of India and Ministry of
    Infrastructure and Transport of the Government of the Republic of Fiji on
    Co-operation in the field of Renewable Energy.
  3. MoU between the Government of
    Republic of India and the Government of the Republic of Fiji for establishing
    India — Fiji Centre of Excellence in IT.
  4. MoU between the Ministry of Youth
    and Sports of the Republic of Fiji and the Ministry of Youth Affairs and Sports
    of the Republic of India on Cooperation in the field of Youth Development.
  5. MoU between the Government of
    Republic of India and the Government of Cook Islands for Establishing India —
    Cook Islands Centre of Excellence in IT.
  6. MoUbetween the Government of
    Republic of India and the Government of Republic of Nauru for establishing
    India— Nauru ICT Learning Centre of Excellence in IT.
  7. MoU between the Government of
    Republic of India and the Government of Independent State of Samoa for
    Establishing India – Samoa Centre of Excellence in IT.
  8. MoU between the Government of
    Republic of India and the Government of Niue for Establishing India – Niue
    Centre of Excellence in IT.

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India, Mauritius signed four agreements

  • India and Mauritius on 27 May
    2017 signed four agreements including maritime security, marine science and
    technology. These agreements will help the two nations to boost the bilateral
    relation between them.
  • The agreements were signed after
    delegation-level talks between Prime Minister Narendra Modi and his Mauritian
    counterpart, Pravind Kumar Jugnauth, who was on a three-day state visit to India
    from 26 May to 28 May 2017.
List of Memorandum of
Understandings (MoUs)/Agreements exchanged during the State visit of Prime
Minister of Mauritius to India

  1. MoU for Setting up of Civil
    Services College in Mauritius
  2. Agreement on Maritime Security
  3. MoU for Research and Education in
    Marine Sciences and Technology. The agreement was inked between Council of
    Scientific and Industrial Research, India and Mauritius Oceanography Institute,
    Mauritius.
  4. US Dollar 500 million Credit Line
    agreement between SBM Mauritius Infrastructure Development Co. Ltd and
    Export-Import Bank of India.
News related to India and states
Cyclonic Storm MORA to strike East-Central Bay of Bengal

  • The cyclonic storm MORA is about
    to strike East-Central Bay of Bengal, as predicted by India Meteorological Department
    (IMD) on 29 may 2017.
  • MORA was observed moving
    Northward with a speed of 11 kmph over East-Central Bay of Bengal near Latitude
    17.3ºN and Longitude 91.3ºE, which is about 660 km South-Southeast of Kolkata
    and 550 km South-Southwest of Chittagong.
  • The cyclonic storm is likely to
    intensify further into a severe storm during next 12 hours. It is very likely
    to move North-Northeastwards and cross Bangladesh coast between longitude 91.0ºE
    and 92.0ºE near Chittagong.
  • Under its impact, rain and
    thundershower may occur at many districts of coastal Odisha and some areas in
    the interior region.
Delhi Metro’s Heritage Line inaugurated

  • Union Urban Development Minister
    Venkaiah Naidu on 28 May 2017 flagged off the first train of the Delhi Metro’s
    Heritage Line. The train will now be open for public.
  • This 5.17-km-long corridor
    Heritage Line has four stations- Kashmere Gate, Dilli Gate, Jama Masjid and Lal
    Quila. The Heritage Line is essentially an extension of Delhi Metro Violet Line
    that runs between Faridabad and ITO presently.
  • With this, the residents of the
    densely-populated area of Old Delhi or Shahjahanabad will now have direct
    access to commercial centres such as Connaught Place, Janpath, offices in
    Central Secretariat and the satellite town of Faridabad.
Defence Minister Arun Jaitley inaugurates Aeronautical Test Range at
Chitradurga

  • Union Defence Minister Arun
    Jaitley on 28 May 2017 inaugurated the newly built Aeronautical Test Range
    (ATR) of the Defence Research & Development Organisation (DRDO) at
    Chitradurga in Karnataka.
  • ATR will help in creating
    conditions for research which will in turn develop efficient human resource in
    the country in the field of aeronautical testing.
  • It will also contribute to the
    development of the region in which Chitradurga is located.
  • ATR is the first of its kind
    range in the country exclusively meant to conduct flight-tests of indigenous
    unmanned and manned aircrafts like Light Combat Aircraft, the unmanned air
    vehicles- Rustom-I and Rustom-II (Tapas); parachutes and aerostats, etc.
  • This outdoor testing and
    evaluating facility was set up by the Aeronautical Development Establishment
    (ADE), one of the premier laboratories of the DRDO.
India’s first Electric Mass Transport Project launched in Nagpur

  • Maharashtra Chief Minister Devendra
    Fadnavis on 26 May 2017 inaugurated India’s first Electric Mass Transport
    Project in Nagpur.
  • The pilot project envisages a
    fleet of 200 electric-powered public transport vehicles which will run on Ola
    Cabs’ app platform in Nagpur.
  • Out of these 200 electric-powered
    vehicles, 100 e2o Electric Taxis were manufactured by Mahindra & Mahindra
    group’s Mahindra Electric while Kinetic Green Energy and Power Solutions has
    supplied 100 e-rickshaws, Kinetic Safar.
  • Mahindra & Mahindra’s total
    investment in technology, products, and plants of e-vehicles was over Rs 600
    crore. All these electric-powered public transport vehicles will be fully owned
    by cab aggregator Ola.
  • CM Fadnavis also inaugurated an
    Electric Charging Station at the Nagpur airport that was built by Ola itself.
    Ola also built three other charging stations in Nagpur and all these four
    stations together have 53 charging points that can power the entire fleet of
    200 e-vehicles.
  • Ola started investing in
    e-vehicles a decade ago and launched the e2o in 2011, followed by a sedan and a
    cargo vehicle powered by electricity. The company already has 2700 e-vehicles
    running across India which clock around 14 million kms per day.
ISRO set to launch India’s heaviest rocket ‘Fat Boy’

  • The Indian Space Research
    Organisation (ISRO) will be launching the heaviest rocket ever made by India,
    the Geosynchronous Satellite Launch Vehicle Mark III (GSLV Mk- III) on 5 June
    2017.
  • The rocket, called the ‘Fat Boy’,
    reportedly weighs as much as 200 full-grown Asian elephants. It is not only
    capable of carrying the heaviest satellites but it could also enable India to
    send manned missions to space, making it only the fourth nation in the world to
    be able to do so.
  • Presently, only three
    countries—US, Russia and China—have the capability of sending manned missions
    to space.
Appointments
Manipur Governor, Najma Heptulla appointed as Jamia Chancellor

  • Incumbent Governor of Manipur,
    Najma Heptulla, was appointed as the Chancellor of Jamia Millia Islamia on 29
    May 2017.
  • The development was confirmed by
    Jamia’s Vice Chancellor, Talat Ahmad who stated that the University will
    greatly benefit from Heptulla’s rich experience in both political and public
    life. He further added that it will be their privilege to work with her and
    learn from her distinguished career in the Parliament as well as
    internationally.
  • The 77-year-old Heptulla will be
    succeeding Lt Gen (Retd) MA Zaki, who completes his five-year term this month.
    She would also be serving a term of five years.
Sports
South Korea beat China to win 2017 Sudirman Cup

  • South Korea on 28 May 2017
    defeated China to lift their fourth Sudirman Cup title at Gold Coast,
    Queensland, Australia.
  • South Korea’s women shuttlers
    played an impeccable game to beat 10-time champions China with a 3-2 win in the
    final played at the Gold Coast Sports and Leisure Centre in Australia. It was
    the first time that the event was hosted outside Asia and Europe since its
    establishment in 1989.
  • South Korea’s other victories in
    the Sudirman Cup were in 2003, 1993 and 1991.
Days
International Day of United Nations Peacekeepers 2017 observed

  • The International Day of United
    Nations Peacekeepers 2017 was observed on 29 May 2017 with the theme Investing
    in Peace around the world.
  • The Day offers a chance to pay
    tribute to the uniformed and civilians personnel’s invaluable contribution to
    the work of the Organization. The Day also honours more than 3500 peacekeepers
    who have lost their lives serving under the UN flag since 1948, including 117
    in the year 2016.
  • While the official International
    Day of United Nations Peacekeeper’s Day is on 29 May, UN Headquarters in New
    York celebrated the day on 24 May 2017. On the occasion, the Dag Hammarskjöld
    Medal was awarded posthumously to the peacekeepers who fell while serving in
    the cause of peace. Two Indian peacekeepers, Brijesh Thapa and Ravi Kumar, were
    among the 117 military, police and civilian personnel who were honoured with
    the prestigious medal.
Awards & Honors
Global Icon Priyanka to be honoured with Dadasaheb Phalke Academy Award

  • International icon Priyanka
    Chopra will be receiving the prestigious Dadasaheb Phalke Academy Award on 1
    June 2017 in an awards ceremony conducted in Mumbai.
  • The star would be given the award
    under the newly introduced category- ‘Internationally Acclaimed Actress’ for
    her great work on the International platform.
  • Speaking on the occasion,
    Dadasaheb Phalke Academy and Award Committee chairman Ganesh Jain said that
    Priyanka’s hard and sincere efforts have helped her place herself on an
    international platform with grace. He added that she is representing India at a
    global level and that has made every Indian proud of her work and that is what
    compelled them to introduce this fresh category in the awards.=
  • Priyanka’s mother Madhu Chopra
    will also be honoured at the occasion with the ‘Best Film’ award for her maiden
    production Ventilator – a Marathi family drama, which won trophies in three
    categories at the National Awards earlier this year.
Satyabrata Rout honoured with Sangeet Natak Akademi Puraskar

  • Satyabrata Rout on 29 May 2017
    was selected for the Sangeet Natak Akademi Puraskar for the year 2016.
  • Rout is a professor from the
    Department of Theatre Arts, S N School of Arts and Communication, University of
    Hyderabad.
  • Rout has directed a number of
    plays, participated in national and international theatre festivals and
    conducted numerous theatre workshops across the globe.
World News
Construction begins on world’s largest telescope in Chile

  • Construction began on 26 May 2017
    on the European Extremely Large Telescope (ELT), which when completed will be
    the world’s largest optical telescope. The telescope will be located in Chile’s
    Atacama Desert.
  • Director General of ESO, Tim de
    Zeeuw, and President of the Republic of Chile, Michelle Bachelet Jeria marked
    the attendance in the ceremony to inaugurate the construction of the telescope.
  • The ELT, conceived by the
    European Southern Observatory (ESO), will be around five times larger than the
    top observing instruments in use today.
  • Located on a 3000 meter-high
    mountain in the middle of the Atacama desert, it is due to begin operating in
    2024.
  • ‘HARMONI’ will enable scientists
    to form a more detailed picture of the formation and evolution of objects in the
    Universe.
Lists & Indexes
India’s Taj Mahal ranked 5th among top 10 global landmarks

  • One of the most iconic wonders in
    the world, Taj Mahal has become the only Indian monument to figure in the
    world’s top 10 Travellers’ Choice awards for Landmarks.
  • The historic monument was ranked
    at the fifth position in the list. The top spot was clinched by the world’s
    largest religious monument- Angkor Wat in Cambodia.
  • The other iconic landmarks to
    feature in the top ten included Sheikh Zayed Grand Mosque Center in Abu Dhabi
    at 2nd rank, Spain’s Mezquita Cathedral de Cordoba at the 3rd and St Peter’s
    Basilica in Vatican City at the 4th rank.
  • While the Church of the Savior on
    Spilled Blood in St Petersburg, Russia and the Great Wall of China were ranked
    6th and 7th respectively, Incan city of Machu Picchu in Peru was ranked 8th.
  • The final two positions were
    taken up by Plaza de Espana in Spain and Duomo di Milano in Italy, which were
    ranked 9th and 10th respectively.
  • India’s ivory-white marble
    mausoleum however, was ranked 2nd in the Asia list, only after Cambodia’s
    Angkor Wat, which topped the list yet again.
Obituaries
Former Greek Prime Minister Constantine Mitsotakis dies

  • Former Greek Prime Minister
    Constantine Mitsotakis passed away on 29 May 2017. He was 98. Mitsotakis was an
    early proponent of austerity cuts that Greece eventually had to adopt during
    the economic crisis of 2010.
  • Mitsotakis had quit politics in
    2004 after serving as the country’s longest-serving parliamentarian.
Former Punjab DGP Kanwar Pal Singh Gill passes away

  • Kanwar Pal Singh Gill, former
    Director General of Police (DGP) for the state of Punjab, passed away on 26 May
    2017 in New Delhi. He was 82.
  • Gill, one of India’s most
    celebrated cops, was popularly known as the ‘Lion of Punjab’ and ‘Super Cop’.
  • In May 1988, during Operation
    Black Thunder, he truly grabbed national and international attention. Without
    censoring out the media, he carried out the 1988 operation, with very little
    damages to the Golden Temple, while causing heavy casualties to the militants.

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