Daily Current Affairs 30 May 2018 with PDF

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Daily Current Affairs 30 May 2018 with PDF
Daily Current Affairs 30 May 2018 with PDF – Featured

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Finance and Banking

Yes Bank inks MoU with SIDBI to provide loans to SMEs, MSMEs

  • Yes Bank has entered into an agreement with SIDBI under which it will act as a preferred financial institution for giving loans to the small and medium enterprising customers of the latter.
  • Under the pact, Yes Bank would provide various banking services, including working capital, to SIDBI customers at its pan-India branches, which currently number around 1100. A memorandum of understanding (MoU) was signed between SIDBI chief general manager K I Mani and Yes Bank group president (international and institutional banking) Arun Agarwal here this evening.
  • Currently, merely about 550 SIDBI customers avail of its working capital facility, which forms a miniscule part of its customer base. The Bank had earlier entered into an agreement with a public sector bank, yet the scheme could not take off as expected.

Moody’s cuts India’s projected growth rate for 2018

  • Moody’s Investors Service, a credit rating firm on Wednesday estimated a 7.3 per cent growth in Indian Gross Domestic Product (GDP) for the year 2018, thereby cutting it down from a previously projected 7.5 per cent.
  • In its May update of the Global Macro Outlook: 2018-19, Moody’s cited higher oil prices and tighter financial conditions as the primary barrier to the growth rate.
  • “The Indian economy is in cyclical recovery led by both investment and consumption. However, higher oil prices and tighter financial conditions will weigh on the pace of acceleration. We expect GDP growth of about 7.3% in 2018, down from our previous forecast of 7.5%. Our growth expectation for 2019 remains unchanged at 7.5%,” the research claimed.
  • It also highlighted an acceleration in rural consumption, higher minimum support prices and a normal monsoon to stabilize growth on the domestic front.

India, Indonesia elevate ties to establish Comprehensive Strategic Partnership

  • India and Indonesia on May 30, 2018 issued a joint statement on “Establishing Comprehensive Strategic Partnership’, elevating their existing bilateral ties.
  • The move followed a bilateral summit between Indonesian President Joko Widodo and visiting Indian Prime Minister Narendra Modi in Jakarta, the capital city of Indonesia. The two leaders held extensive talks on bilateral, regional and global issues of mutual interest and provided strategic directions that would further enhance the solid and expanding relations between the two countries.
  • To enhance the strategic partnership between the two nations, the leaders agreed to hold annual summit meetings, including on the margins of multilateral events. The two sides also signed 15 agreements for cooperation in various areas including defence, trade and economy.

Trade

  • India and Indonesia have agreed to double their efforts to take bilateral trade to USD 50 billion by 2025.
  • According to Indonesia’s Central Statistics Agency (BPS), trade between the two countries in 2016 was USD 12.9 billion.
  • It rose by 28.7 per cent to USD 18.13 billion in 2017 with Indonesia’s exports to India reaching USD 14.08 billion and its imports from India standing at USD 4.05 billion.

Defence

  • The leaders reaffirmed that their countries, as strategic partners and maritime neighbours, will work to further strengthen and broaden the already robust defence cooperation.
  • The leaders reaffirmed their commitment in the field of defence with the signing of the Defence Cooperation Agreement between the two countries.
  • They also agreed to further enhance mutual trust through regular meetings and staff talks between armies, navies and air forces of the two countries.
  • They further took note on the progress made through the joint production of military equipment and identified cooperation in defence industry and technology as areas of great potential.

Economic Cooperation

  • The two sides agreed to work intensively for the early conclusion of the Regional Comprehensive Economic Partnership (RCEP) and reiterated that it needs to be comprehensive, fair and balanced with benefit to all member states.

Power Minister RK Singh launches Web Portal and App called PRAAPTI

  • RK Singh, Minister of State for Power, on May 29, 2018 launched the web portal and an app namely PRAAPTI that stands for ‘Payment ratification and analysis in power procurement for bringing transparency in invoicing of generators’.
  • The portal ‘www.praapti.in’ has been launched for bringing transparency in payments to electricity generators.
  • PRAAPTI App and web portal have been developed to bring transparency in power purchase transactions between Generators and Discoms.
  • The App and Web Portal will capture the Invoicing and payment data for various long term PPAs from the Generators.
  • This will help the stakeholders in getting month-wise and legacy data on outstanding amounts of Discoms against power purchase.
  • The app will also allow users to know the details related to the payments made by the Discoms to the power generating companies and when they were made.
  • PRAAPTI will also allow the consumers to evaluate financial performance of their Discoms in terms of payments being made to the generation companies.

India

Andhra Pradesh gets its own symbols post split, black buck is state animal

  • Neem and black buck have been declared as the state tree and animal respectively of Andhra Pradesh.
  • Rose-ringed parakeet will be the state bird while jasmine the flower, Principal Secretary of Environment and Forests G Anantha Ramu said in an order on Wednesday.
  • “The government felt that it is necessary to have separate symbols for the state after the bifurcation. Accordingly, the symbols have been notified for Andhra Pradesh,” the order added.
  • Andhra Pradesh was bifurcated to create Telangana in June, 2014.

Baba Ramdev’s Patanjali launches Kimbho app to compete with WhatsApp

  • Yoga guru Baba Ramdev’s Patanjali on Wednesday launched a new swadeshi messaging application called Kimbho to compete with WhatsApp, ANI reported.
  • “Now Bharat will speak. After launching SIM cards, Baba Ramdev has launched a new messaging application called Kimbho. Now Whats App will be given competition. Our own #SwadeshiMessagingplatform. Download it directly from Google Play store,” Patanjali’s spokesperson SK Tijarawala tweeted.
  • Kimbho caters to private and group chats with free phone and video calling. The application has dozens of features to share text, audio, photos, videos, stickers, quickies, location, GIFs, and doodle, according to its brief on the Google Play Store. The tagline of Kimbho says “Ab Bharat Bolega”.
  • Patanjali’s messaging application comes after the firm lined up for a pie of telecom sector with Swadeshi Samriddhi SIM cards. Patanjali has tied up with Bharat Sanchar Nigam Ltd (BSNL) to enter the telecom sector by launching SIM cards.

Union Tribal Affairs Ministry launches exhibition cum sale event ‘Pankha’

  • Union Tribal Affairs Minister, Jual Oram on May 29, 2018 launched an exhibition cum sale event ‘The Pankha’ (Hand-fans) at the TRIBES India Showroom in New Delhi. Noted artist Jatin Das also graced the occasion.
  • These Pankhas are on display at Indira Gandhi National Auditorium (IGNA), New Delhi from May 26, 2018 to June 24, 2018.
  • These hand fans were created by TRIFED with the help of its artisans from all over the country.
  • Hand fans are an age old tradition and are an integral part of Indian traditions and customs.
  • The Pankhas, a range of exotic hand fans draws inspiration from the eminent Artist Jatin Das and from his collection of 10000 handmade Pankhas.
  • Artisans with their artistic creativity have converted a simple utilitarian item into handcrafted masterpieces that not only adorn any urban households, but help provide livelihood opportunities to many.

Gaj Yatra launched in Garo Hills of Meghalaya

  • Meghalaya’s Home Minister James P K Sangma on May 29, 2018 flagged off the Gaj Yatra in Garo Hills of Meghalaya with an aim to raise awareness about the shrinking space for wild elephants in the country and particularly in the state.
  • The Gaj Yatra was launched in the presence of Bollywood actor Dia Mirza, the Brand Ambassador of Wildlife Trust of India and other distinguished dignitaries at SMELC Building Dakopgre, Tura.
  • This Gaj Yatra in Meghalaya is the continuation of the campaign that was launched in August 2017 on the occasion of the World Elephant Day.

Centre plans OFC connectivity push on Indo-China border: Nirmala Sitharaman

  • Union Defence Minister Nirmala Sitharaman on May 29, 2018 announced that the Centre is planning to lay Optical Fiber Cable (OFC) in all the areas bordering China to mitigate connectivity problems being faced by both defence personnel and the civilian population.
  • The announcement was made by Sitharaman while she was speaking of the achievements of the four-year-old Narendra Modi government. The Union Cabinet had already discussed the issue of laying OFC and sanctioned the additional fund for the process.
  • All the border areas along the Indo-China border will be connected with OFC which will greatly improve the mobile and telephone connectivity besides improvement in radio frequency.
  • The OFC push is expected to arm civilians and defence personnel with cellular and radio connectivity strong enough to counter the Chinese waves.

India releases Rs 33.10 crore to Nepal for 2 road projects

  • India has released Rs 33.10 crore to Nepal for two road packages of Birgunj-Thori Road that are being implemented under Postal Highway Projects in Nepal with grant assistance from the Indian Government.
  • The Indian Government has so far released a total of Rs 117.63 crore to the Nepal Government for the implementation of 14 packages of the Postal Highway Projects.
  • Since 1950, the Government of India has been supporting infrastructure development of Nepal and has provided financial assistance for construction of various highways, roads, bridges, airports, as a part of its multi-sectoral and multi-dimensional India-Nepal Economic Cooperation Programme.

Madhya Pradesh government to regularise 2, 37,000 contractual teachers

  • The Madhya Pradesh state government has decided to regularise 2, 37,000 contractual teachers in the state.
  • The decision was taken at a Cabinet meeting chaired by Chief Minister Shivraj Singh Chouhan on May 29, 2018.
  • The cabinet also decided that no contractual employee in other government departments will be retrenched.
  • The cabinet also decided that the contractual staffers will be given 15 days privilege leave, 13 days casual leave and 10 days other leave in a calendar year.

Railway Minister seeks passenger cooperation over late running of trains

  • The Union Railway Minister, Piyush Goyal has sought the cooperation of passengers over late running of trains, saying that the delay was caused due to track upgradation work.
  • The Minister stated in a tweet that the track upgradation work was being carried out for passenger safety on mission mode.
  • The Minister also posted a video, which is now being played at all railway stations, asking people to keep patience in the face of delays.
  • The one-minute video is designed to tell passengers about the safety work being undertaken by the railways for people’s safety.

Goa celebrates statehood day

  • Goa celebrated its Statehood Day on May 30, 2018. The state attained its full statehood on May 30, 1987, after which it was declared as India’s 25th state.
  • Earlier, Goa along with Daman and Diu was a Union Territory for all administrative and governance considerations.
  • During the statehood process, Daman and Diu were separated from Goa and they continue to be administered as a union territory.
  • Since 1987, Goa has emerged as a dynamic and progressive state with a high level of socio-economic development, coupled with adequate infrastructural development in varied sectors.

Madras HC directs CBSE to ensure no school prescribes non-NCERT textbooks

  • The Madras High Court on May 29, 2018 issued a direction to Central Board of Secondary Education (CBSE) to ensure that even private schools affiliated to it, follow only NCERT textbooks and not those of private publishers.
  • The court passed interim orders on a writ petition filed by advocate M Purushothaman, who accused private schools of dumping too many subjects and books on children.
  • Justice N. Kirubakaran, in a sharp criticism of the burden on very young school children, ordered that no school in the country, irrespective of the educational board, prescribe homework for children in Classes I & II.

UP government to go the e-Office way

  • The Uttar Pradesh cabinet has decided to bring all state government offices under the e-Office system by August 15 to minimise the use of paper.
  • The decision, aimed at converting government departments into less paper offices, was taken at a cabinet meeting presided over by Chief Minister Yogi Adityanath on May 30.
  • The e-office system is a ‘product suit’ developed by the National Informatics Centre (NIC) that helps in faster clearance of files and envisions a paper-less office.

World

Singapore Airlines to launch world’s longest commercial flights in October

  • Singapore Airlines (SIA) will launch the world’s longest commercial flights from October 11 between Singapore and New Jersey in the United States of America.
  • The 161-seat flight will cover 15,329 km non-stop, with travelling time lasting up to 18 hours and 45 minutes.
  • According to the SIA, tickets will be made available for sale progressively across various booking channels starting from Thursday.
  • In the beginning, the flight is planned to operate three times a week from Changi Airport in Singapore to Newark Liberty International Airport in New Jersey on Mondays, Thursdays and Saturdays.
  • However, when an additional aircraft comes into service, daily operations will commence from October 18.

US Capitol to host first-ever gathering of Indian-Americans

  • The US Capitol will for the first time on June 7, 2018 host Indian American elected officials, leaders, philanthropists and some 80 community members running for elected offices in the November mid-term elections.
  • Senator Kamala Harris from California, the first ever Indian origin to be elected to the US Senate, is scheduled to deliver a keynote address to the one-of-its-kind of gathering.
  • The gathering will be organised by Indian American Impact Project. Around 200 delegates are expected to attend the day-long meeting.The meeting will feature panel discussions on how to build political power in the Indian American community.
  • The current Congress has a record number of five Indian Americans, all being from the Democratic Party.

Microsoft becomes third most valuable firm globally

  • Software giant Microsoft has surpassed Google’s parent company Alphabet in market capitalisation for the first time in three years, becoming the third most valuable firm globally after Apple and Amazon.
  • On May 29, 2018, Microsoft reportedly had a market cap of $753 billion at the close of trading, almost $14 billion ahead of Alphabet.
  • While Apple leads with a market cap of nearly $924 billion, Amazon is at a distant second, with nearly $783 billion.
  • In its third quarter that ended on March 31, 2018, the tech giant posted revenue of $26.8 billion and net income of $7.4 billion.
  • The growth was mainly driven by consistent growth in its Office and Cloud solutions.
  • The major credit in the growth, however, goes to the company’s CEO who has been strategically restructuring the company towards Cloud and Office offerings.

Awards

Kerala cartoonist wins international award

  • Kerala cartoonist Thomas Antony has won an international award, in the best caricature category.
  • Antony, currently working as an executive artist with a Malayalam daily, is among the nine winners at the 13th edition of the World Press Cartoon awards, instituted by an organisation based in Lisbon, Portugal.
  • The awards are given to the best works published in 2017 in newspapers and magazines from around the world.
  • Antony was the only cartoonist selected for the prize from Asia.

Appointments

Lt Gen Ranbir Singh appointed Northern Army Commander

  • Lt Gen Ranbir Singh, who was the Director-General of Military Operations (DGMO) when India carried out surgical strikes across the Line of Control (LoC) in Jammu and Kashmir, has been appointed Northern Army commander.
  • Lt Gen Singh succeeds Lt Gen Anbu who will take charge as Vice Chief of the Indian Army on Friday, official sources said.
  • At present, Lt Gen Singh is Deputy Chief of the Army Staff.

 

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