Current Affairs 15th June 2017 - Banking, SSC, UPSC Affairs

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Israeli author David Grossman won the Man Booker International Prize for his novel "A Horse Walks Into a Bar".  David Grossman, the first Israeli author to win the Man Booker International Prize. He will share the £50,000 ($64,000) award money with his translator Jessica Cohen. Other important works of David Grossman includes The Yellow Wind, To the End of the Land. His works have been translated into over 30 languages.

China successfully launched its first X-ray space telescope to study black holes, pulsars, and gamma-ray bursts. The 2.5-tonne telescope was sent into an orbit of 550 kilometers above Earth. The Hard X-ray Modulation Telescope (HXMT), named Insight will allow Chinese scientists to observe magnetic fields and the interiors of pulsars and better understand the evolution of black holes. Last month, China opened a "Lunar Palace" laboratory on Earth to simulate a moon-like environment and house students for up to 200 days as the country prepares for its long-term goal of sending humans to the natural satellite.

Minister of Food Processing Industries Harsimrat Kaur Badal addressed a Joint Press Conference with the organizers of ANUGA - an International business platform for Food Industry to be held in Cologne, Germany. She also signed the Memorandum of Understanding (MoU) for Participation in the ANUGA Exhibition with Ms. Katharina C Hamma, Chief Operating Officer, Koelnmesse GmBH (Organizers of ANUGA). ANUGA is an acronym for Allgemeine Nahrungs Und Genumittel Ausstellung ( General Food and Non-essential Provisions Exhibition) is the world’s biggest and most important trade fair for Food and beverage trade. It offers an extensive supporting program with Lectures, Special exhibition and attractive industry events.

According to the Code Compliance Rating of banks done by the Banking Codes and Standards Board of India (BCSBI) 2017, only one (IDBI Bank) out of 26 public sector banks and eight out of 17 private sector banks got ‘high’ rating. The eight private sector banks that got ‘high’ rating are Axis Bank, DCB Bank, HDFC Bank, ICICI Bank, IndusInd Bank, Kotak Mahindra Bank, RBL Bank and YES Bank. The three foreign banks are Citibank, HSBC and Standard Chartered Bank.

Law expert Neeru Chadha elected as the International Tribunal for the Law of the Seas (ITLOS). She won a nine-year term on the 21-member court that adjudicates disputes arising from the UN Convention on the Law of the Sea (UNCLOS) and agreements between countries that give it jurisdiction. Neeru is the second Indian woman to occupy a top position at the United Nations after Lakshmi Pandit who served as the President of the United Nations General Assembly.

The World Elder Abuse Awareness Day (WEAAD) is commemorated on June 15 every year across the world. The 2017 theme for the WEAAD is "Understand and End Financial Abuse of Older People: A Human Rights Issue". It aims the importance of preventing financial exploitation in the context of elder abuse to the enjoyment of older persons human rights.

The World Bank approved financing worth more than 500 million dollars for Afghanistan to support a string of projects to boost the economy. It helps improve service delivery in five cities and support Afghan refugees sent back from Pakistan. Some 205.4 million dollars, will go toward supporting communities affected by refugees returning from Pakistan.

The Union Cabinet chaired by the Prime Minister Shri Narendra approved to the Memorandum of Understanding (MoU) between Ministry of Agriculture & Farmers’ Welfare and the Ministry of Agriculture in the State of Palestine on agriculture cooperation. The MoU provides for cooperation in the fields of agricultural research; veterinary field including capacity enhancement of Palestinian Veterinary services and Animal Health; irrigation and climate change.  The MoU was signed in May during the visit of the Palestinian Minister of Foreign Affairs to India. 

Leo Varadkar was elected Irish Prime Minister first Indian-origin premier. He took over Enda Kenny, Former Prime Minister of Irish Ireland became the first country in the world to legalize same-sex marriage through popular vote.

The Public Sector Oil Marketing Companies, Indian Oil, Bharat Petroleum and Hindustan Petroleum signed the joint venture agreement to jointly set up the world’s largest refinery and petrochemical complex in Ratnagiri district of Maharashtra. Indian Oil Corporation (IOC) will hold 50% stake and the Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) will each hold a stake of 25% each in the new complex. The new complex will have a 60 million tons refining capacity. The complex would come up at Babulwadi, Rajapur in Ratnagiri district of Maharashtra located very close to the West coast.

The Union Government appointed ambassadors to three European countries, Italy, Denmark and Belgium. Gaitri Issar Kumar is a 1986-batch Indian Foreign Service (IFS) officer, has been appointed as India’s next ambassador to Belgium. Reenat Sandhu, a 1989-batch IFS officer, will head India’s diplomatic mission in Italy. Ajit Vinayak Gupte from the 1991 batch, who is presently joint secretary in the ministry, has been appointed as ambassador to Denmark.

Emkay Global Financial Services entered into an exclusive agreement with Development Bank of Singapore Limited (DBS) Bank and securities. The agreement involves sharing of knowledge, co-branding of research and its distribution to the global clients of DBS Vickers.

The Union cabinet approved the Interest Subvention Scheme (ISS) for farmers for the year 2017-18. The Government has allocated Rs. 20,339 crore for this scheme. The objective of the scheme is to make the available agricultural credit for Short Term crop loans at an affordable rate. The scheme is expected to boost agricultural productivity and production in the country. The scheme will be continued for 1 year and will be implemented by Reserve Bank Of India (RBI) and National Bank For Agriculture & Rural Development (NABARD).

The World Blood Donar Day (WBDD) is observed on June 14 across the world every year. The slogan of WBDD 2017 is What can you do? Give blood. Give now. Give often. The objectives of this year’s campaign to encourage all people to strengthen the emergency preparedness of health services in their community by donating blood.

The Union Cabinet approved the proposal to introduce a Financial Resolution and Deposit Insurance Bill, 2017. This bill will provide a comprehensive resolution framework for financial sector entities to deal with bankruptcy situation in banks, insurance companies, and other entities. The bill is proposed to strengthen and streamline the current framework of deposit insurance and to decrease the time and costs involved in resolving distressed financial entities. 

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  • Visits by World Presidents, Prime Ministers,
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