Current Affairs Update – 7th June, 2016

Hello and welcome to exampundit. Here are the important Current Affairs of 7th June, 2016. These are important for the upcoming SBI PO & SBI Clerk Mains 2016 Exams.

Current Affairs at a Glance – 7th June, 2016

  1. RBI today released the second bi-monthly monetary policy for
    the FY2016-17
    . Repo rate unchanged at 6.50 per cent, Reverse
    Repo at 6% and Cash reserve ratio or CRR unchanged at 4%.
  2. India and the Asian Development Bank (ADB)
    on Tuesday signed a $120 million loan pact
    to improve irrigation and water management infrastructure in Odisha
    .
  3. The Delhi Government on 6 June 2016 announced implementation of its
    solar policy. The policy aims at making the national capital a solar city with
    installation of 1 GW solar power
    capacity by 2020
    . This target is proposed to double it to 2 GW during
    further next five years.
  4. The abbreviation Swachh Yug was in news on 6 June 2016. The campaign, being a
    collaborative effort between the Swachh Bharat Mission, local youth leaders (युवा) and the Namami Gange project
    (गंगा) – is being called
    ‘Swachh यु-ग’, which translates into ‘the age
    of Swachh’.
  5. Minister of Railways Suresh
    Prabhakar Prabhu on 5 June 2016 flagged off the inaugural run of the Tiger Trail
    Circuit Train
    from Delhi Safdarjung Station.
  6. Chief Minister of Haryana Manohar
    Lal Khattar on 3 June 2016 laid foundation stone of Jai Jawan Awas Yojna (JJAY) at Bahadurgarh, Haryana.
  7. Social media giant Facebook
    has appointed Umang Bedi
    as its Managing Director for India
  8. Bollywood actress Dia Mirza
    was on 6 June 2016 named as the
    ambassador for Swachh Saathi (student internship) programme
    . It is a youth-based
    programme of Swachh Bharat Mission.
  9. Adobe on 6 June 2016 announced
    the appointment
    of Kulmeet Bawa as Managing Director (MD) for South Asia
    . He will begin
    his new role on 24 June 2016.
  10. N Ramachandran, the president of
    Indian Olympic Association (IOA) was awarded the prestigious Olympic Order by
    the International Olympic Committee (IOC)
    on 1 June 2016. He was
    honoured for his outstanding services to the Olympic movement.
  11. Deshauna Barber, a serving Army
    Reserve officer of United States (US), was on 5 June 2016 crowned as the Miss USA 2016
    at the Miss USA competition 2016 held at the T-Mobile Arena off the Las Vegas
    Strip. With this, Barber became the first-ever military member to win Miss
    USA title
    .
  12. The city of Lucknow will host the junior men’s
    hockey World Cup from December 8 to 18
    , the International Hockey Federation
    (FIH) announced today.

Finance/Banking –
RBI’s second bi-monthly monetary policy 2016-17 highlights

  • RBI today released the second
    bi-monthly monetary policy for the FY2016-17.

Following are the highlights of RBI’s second bi-monthly monetary
policy statement, 2016-17
  • Repo rate unchanged at 6.50 per
    cent, Reverse Repo at 6% 
  • Cash reserve ratio or CRR unchanged at 4%
  • Monetary policy to remain
    accommodative
  • Pegs growth forecast at 7.6% for
    the current fiscal
  • Inflation target kept unchanged
    at 5% for January 2017 with upward bias
  • Impact of firming crude oil
    prices, implementation of 7th Pay Commission recommendations need to be watched
  • Interest rate transmission
    critical for growth revival
  • Timely capital infusion in PSU
    banks to aid credit flow
  • Public investment gaining
    strength, continuing weakness in private investment is a concern.
  • To shortly review the implementation
    of the Marginal Cost Lending Rate framework by banks
  • Third bi-monthly monetary policy
    on August 9

India, ADB sign $120 million loan pact for irrigation in Odisha

  • India and the Asian Development
    Bank (ADB) on Tuesday signed a $120 million loan pact to improve irrigation and
    water management infrastructure in Odisha.
  • The soft loan is the second
    tranche of a $157.5 million financing facility under the Orissa Integrated
    Irrigated Agriculture and Water Management Investment Program.
  • The selected areas for the
    investment program are the Baitarani, Brahmani, Budhabalanga and Subernarekha
    river basins and parts of Mahanadi delta.
  • The second tranche loan from
    ADB’s ordinary capital resources has a 20-year term. Odisha, acting through its
    Department of Water Resources, is responsible for implementing the second
    tranche activities and overall program, which are both due for completion by
    September 2018.

Delhi Government approves solar policy with 1 GW target by 2020

  • The Delhi Government on 6 June
    2016 announced implementation of its solar policy.
  • The policy aims at making the
    national capital a solar city with installation of 1 GW solar power capacity by
    2020. This target is proposed to double it to 2 GW during further next five
    years.
  • The policy has been prepared by
    the Delhi Government in consultation with the Dialogue and Development
    Commission after extensive consultations with local and international experts.

Key highlights of the policy include:
  • Mandatory deployment of solar
    panels on the government or public institutions.
  • Virtual net metering to give
    access to the solar net metering facility to the consumers who do not have a
    suitable roof for installing a solar system.
  • Group net metering to encourage
    solar plants on rooftops of buildings that cannot consume all of the energy
    generated locally.

India –
Swachh Yug campaign to make gram panchayats along Ganga open defecation
free

  • The abbreviation Swachh Yug was
    in news on 6 June 2016. The campaign, being a collaborative effort between the
    Swachh Bharat Mission, local youth leaders (युवा)
    and the Namami Gange project (गंगा)
    – is being called ‘Swachh यु-ग’, which translates into ‘the age
    of Swachh’.

Features of Swachh Yug campaign
  • It is executed by the Ministry of
    Drinking Water and Sanitation, in partnership with Ministry of Youth Affairs
    and Sports, and Ministry of Water Resources, River Development and Ganga
    Rejuvenation.
  • Its objective is to make all
    villages along the banks of the Ganga Open Defecation Free (ODF) in 5 States of
    Uttarakhand, Uttar Pradesh, Bihar, Jharkhand and West Bengal.
  • There are 5169 villages along the
    river Ganga that fall under 1651 Gram Panchayats (GPs), 52 districts, and 5
    States.
  • Youth agencies under the Union
    Ministry of Youth Affaris such as the Bharat Scouts and Guides, Nehru Yuva
    Kendras and National Service Scheme will be deployed for the campaign.

Suresh Prabhu launches Tiger Trail Circuit Train on World Environment
Day

  • Minister of Railways Suresh
    Prabhakar Prabhu on 5 June 2016 flagged off the inaugural run of the Tiger
    Trail Circuit Train from Delhi Safdarjung Station.
  • The launch of this Tiger Express
    on World Environment Day is to highlight the significance of environment.
  • The most important objective of
    the train is to create and spread awareness about the wildlife in general and
    the tiger in particular.

Key highlights of the train
  • This tourist train will be
    operated by Indian Railway PSU namely Indian Railway Catering and Tourism
    Corporation (IRCTC).
  • It is one of the most innovative
    tourism products ever launched by Indian Railways.
  • This is for the first time that
    Indian Railways have forayed into the exciting and fascinating wildlife
    tourism.

Haryana Chief Minister Manohar Lal Khattar lays foundation stone for
Jai Jawan Awas Yojna

  • Chief Minister of Haryana Manohar
    Lal Khattar on 3 June 2016 laid foundation stone of Jai Jawan Awas Yojna (JJAY)
    at Bahadurgarh, Haryana.
  • Jai Jawan Awas Yojna is an
    initiative to provide affordable housing to serving and retired JCOs and Other
    Ranks.

Key highlights of the project
  • The project is being executed by
    Army Welfare Housing Organization.
  • It aims to provide low cost
    housing.
  • This housing project has been
    named in the memory of Late Major Rajiv Joon, recipient of Ashok Chakra and
    Shaurya Chakra. Major Joon had attained martyrdom fighting militants in
    Anantnag district of Jammu & Kashmir.
  • The residential project at
    Bahadurgarh will be pitched at a very low cost for the benefit of JCOs and
    Other Ranks.

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Appointments –
Umang Bedi to take over as Facebook India MD

  • Social media giant Facebook has
    appointed Umang Bedi as its Managing Director for India. He will take over from
    Kirthiga Reddy, who will be returning to the U.S. to take on a new role at the
    company’s Menlo Park headquarters.
  • Mr. Bedi has close to two decades
    of leadership experience covering sales, marketing and partnerships with
    multinational companies.
  • Prior to joining Facebook, he was
    Managing Director (South Asia) at Adobe. He was responsible for making India
    one of Adobe’s leading markets.

Dia Mirza named Ambassador for Swachh Saathi programme

  • Bollywood actress Dia Mirza was
    on 6 June 2016 named as the ambassador for Swachh Saathi (student internship)
    programme. It is a youth-based programme of Swachh Bharat Mission.
  • Dia was selected because she is a
    youth icon and has been an active campaigner for Swachh Bharat. She would help
    the programme to reach out to more youngsters as it was aimed to make it a
    viral youth led movement.
  • As the ambassador, the actress
    would interact with school and college students from across the country through
    awareness sessions, community cleaning activities and motivational videos.
  • Swachh Saathi Programme
  • Under this Programme, more than
    2000 interns would be enrolled to coordinate around 10000 schools across India.
  • They will also ensure that all
    students in the schools take the pledge for Clean India.

Kulmeet Bawa appointed Adobe MD for South Asia

  • Adobe on 6 June 2016 announced
    the appointment of Kulmeet Bawa as Managing Director (MD) for South Asia. He
    will begin his new role on 24 June 2016.
  • Bawa will take over the position
    from Umang Bedi, who is leaving the company after five years of service.
  • Bawa will report to Paul Robson,
    President of Adobe Asia Pacific. Bawa will lead Adobe’s customer-facing
    engagements in India.
  • Bawa currently serves as the Head
    of Sales for Adobe in India.

Awards & Honors –
IOC honours IOA chief N Ramachandran with Olympic Order

  • N Ramachandran, the president of
    Indian Olympic Association (IOA) was awarded the prestigious Olympic Order by
    the International Olympic Committee (IOC) on 1 June 2016. He was honoured for
    his outstanding services to the Olympic movement.
  • Earlier to him, former IOA
    president, the late BS Adityan was the other Indian to be honoured with the
    same award in 1995.

US Army Reserve officer Deshauna Barber crowned as Miss USA 2016

  • Deshauna Barber, a serving Army
    Reserve officer of United States (US), was on 5 June 2016 crowned as the Miss
    USA 2016 at the Miss USA competition 2016 held at the T-Mobile Arena off the Las
    Vegas Strip.
  • She represented the US capital as
    Miss District of Columbia. Miss Hawaii Chelsea Hardin came in as the first
    runner-up and Miss Georgia Emanii Davis was the second runner-up.
  • With this, Barber became the
    first-ever military member to win Miss USA title. She will now represent the
    USA at Miss Universe Competition 2016.
  • Barber inherited the crown from
    2015 winner Miss Oklahoma Olivia Jordan.

Sports –
India to host Junior hockey World Cup 2016

  • The city of Lucknow will host the
    junior men’s hockey World Cup from December 8 to 18, the International Hockey
    Federation (FIH) announced today.
  • The event will feature 16 teams —
    defending champions Germany, Argentina, Australia, Austria, Belgium, Canada,
    Egypt, England, Germany, India, Japan, Korea, Netherlands, South Africa, New
    Zealand, Pakistan and Spain.
  • While the men’s competition takes
    place in December, the women’s Hockey Junior World Cup takes place shortly
    beforehand in Santiago, Chile between 24 November and 4 December.
  • India will not be part of that
    event.

Leander Paes, Martina Hingis won 2016 French Open Mixed Doubles tennis
title

  • India’s ace tennis player Leander
    Paes and Martina Hingis of Switzerland on 3 June 2016 won the French Open Mixed
    Doubles title.
  • To win the title, the duo
    defeated the Indo-Croatian pair Sania Mirza and Ivan Dodig 4-6 6-4 10-8.
  • With this win, Paes completed a
    Career Slam in mixed doubles with Martina Hingis. Earlier, he won Australian
    Open, Wimbledon and the US Open titles in 2015 with Hingis.
  • Overall, it was the 18th Grand
    Slam title for Paes and 10th in the mixed doubles category. So far, he won 8
    Grand Slam titles in the doubles category that include Australian Open (2012),
    French Open (1999, 2001 and 2009), Wimbledon (1999) and the US Open (2006, 2009
    and 2013).

Regards

Team ExamPundit