Current Affairs Updates - 7th May 2018
Current Affairs Updates for 7th May 2018 consists of a list of important and Latest News Updates which are very important for the upcoming government examinations of Bank like IBPS PO, IBPS CLERK, SSC CGL, SSC CHSL and other similar examinations. These are important and have been given in details as bullet points. All the headlines have been placed under separate and the most suitable sections. We hope aspirants would like this article. Also, we shall upload the Static GK One Liners and Daily Current Affairs Quiz from today onwards on a regular basis. We hope you have also downloaded our Monthly Inshorts and Monthly Quiz.
Committees in News
Odisha constitutes 5th State Finance Commission seeking to uplift Panchyati Raj System
- The commission will recommend the ways and means for devolution of resources from the state level to the panchayat institutions and urban local bodies.
Govt launches National Water Informatics Centre to maintain data on water resources
- The government has set up a central body - National Water Informatics Centre (NWIC) - to maintain a comprehensive water resources data.
- It will be a single window source of updated data on water resources in India.
Banking, Economic & Financial Affairs
According to Asian Development Bank, India's 7% projected growth rate 'amazingly fast', can double economy in 10 years
- India's projected GDP growth of over 7% for the current fiscal is "amazingly fast" and if this momentum is maintained the size of the economy can double within a decade, Asian Development Bank (ADB) chief economist Yasuyuki Sawada has said.
Rankings & Indexes
California's economy passes UK's to become world's fifth biggest
- Despite having a population of only 40 million compared with the UK’s 65 million people, California’s gross domestic product of $2.7tn has overtaken the UK’s $2.6tn.
Baba Ramdev's flagship company, Patanjali, beat around 1,000 of India's top FMCG companies to emerge as the most trusted brand in the sector, as per TRA's Brand Trust Report 2018.
- The TRA study was conducted among 2,500 consumer influencers across 16 cities. TRA (earlier Trust Research Advisory) has been conducting such studies since 2011
NITI Aayog To Collaborate With IBM To Develop Precision Agriculture Over Artificial Intelligence
- Niti Aayog and IBM partnership aims to work together towards use of technology to provide insights to farmers to improve crop productivity
Vice President M Venkaiah Naidu on Saturday morning emplaned for a five-day visit to South America's Guatemala, Peru and Panama
- Bilateral trade and investments are expected to be mainly discussed during the visit.
- During the visit, the Vice President is scheduled to hold meetings at the highest levels in the three countries.
Gujarat Chief Minister Vijay Rupani said that state government will take all possible steps in developing world-class ecosystems for Skill based programmes.
- Addressing the small gathering at the launch of a Special edition of Gujarat Rojgar Samachar, the Chief Minister advised official to focus on self-employment in order to encourage budding entrepreneurs.
The Jammu and Kashmir High Court directed the state government to appoint additional 22 judicial magistrates required for setting up of juvenile justice boards in all districts.
- A division bench comprising of justice Mohammad Yaqoob Mir and Justice Ali Mohammad Magrey, directed the government to modify rules for appointment of Judicial magistrates for juvenile justice boards (JJBs) in the state to create 22 additional posts under the Jammu and Kashmir Juvenile Justice (Care and Protection of Children) Act of 2013 and the Rules of 2014.
The Border Roads Organisation (BRO), a leader in infrastructure development in the border areas of the country, will celebrate its 58th Raising Day.
- The works executed have ensured the territorial integrity and the socio-economic upliftment of the most inaccessible regions of the country as well as India's neighbourhood.
Pravasi Bharatiya Divas to become biennial event from 2019
- In an attempt to engage and bring in line the interests of the Indians, living within and outside the country, to the importance of Pravasi Bharatiya Divas, External Affairs Minister Sushma Swaraj, on Saturday, declared the special event will be celebrated every alternate year
To check the aquatic life present in Beas river, the Punjab government has started a census to count the Indus dolphins-one of the world’s rarest mammals.
- The World Wildlife Fund (WWF)-a leading organisation in wildlife conservation and endangered species has been assisting the wildlife department to carry out the first census
Nobel prize in literature 2018 cancelled after sexual assault scandal
- Riven by infighting and resignations following allegations of sexual misconduct, financial malpractice and repeated leaks, the Swedish Academy has said no Nobel prize for literature will be awarded this year.
Britain's Royal Navy receives its first autonomous minesweeping system
- Britain's Royal Navy has taken delivery of its first unmanned autonomous minesweeping system, Defence Minister Guto Bebb said on 5 May.
Lebanon holds maiden parliamentary elections in 9 years
- Lebanese began voting in their first general election for nine years, one that is seen as unlikely to upend the country's basic contours of power but is important for economic stability.
Science & Technology
Communications satellite launched from China to connect Asia-Pacific
- A Chinese-built communications satellite owned by Hong Kong-based operator launched aboard a Long March 3B rocket from the Xichang space base in southwest China.
NASA blasts off Mars-bound spaceship, InSight, to study quakes
- NASA launched its latest Mars lander, called InSight, designed to perch on the surface and listen for "Marsquakes" ahead of eventual human missions to explore the Red Planet.
Defence & Railway News
Air Force formally inducts Dakota DC-3 aircraft; 'Parshuram' back in service after 4 decades
- Dakota DC-3 aircraft of 1940's vintage named as 'Parshuram' on Friday ones again joined Indian Air Force more than four decades after the fleet was phased out following an illustrious service record.
Application / Portal
HRD Ministry launches major initiative for online professional development of 1.5 million higher education faculty using SWAYAM platform
- Human Resource Development Ministry has launched a major and unique initiative of online professional development of 1.5 million higher education faculty using the Massive Open Online Courses platform SWAYAM.
- In the first phase, 75 discipline-specific National Resource Centres (NRCs) have been identified.
Schemes / Programme
Manipur Chief Minister N. Biren Singh launched 'Go to Village' mission throughout the state from Konuma ground here.
- The mission was launched on Tuesday in 60 villages of all the 60 Assembly constituencies.
Union Government announces project to strengthen Namami Gange Programme through GIS Technology
- The 11th Executive Committee meeting of National Mission for Clean Ganga (NMCG) recently approved the project encompassing the use of GIS technology for Namami Gange programme with a total budget of Rs 86.84 crore.
Summit /Conference / Events
The twelfth informal meeting of SAARC Finance Ministers was held in Manila, the capital of Philippines on the sidelines of the 51st Annual Meeting of Asian Development Bank (ADB).
- According to a press statement issued by the SAARC Secretariat, Khatiwada underscored the need of concerted efforts to attain the objective of South Asian Economic Union as desired by the leaders of SAARC.
FM Arun Jaitley chairs the 27th GST Council meeting intending to simplify returns filing process
- The meeting entails in bringing the GSTN within complete government ownership and further discuss on issues like whether or not to levy Cess Tax on sugar.
The national capital is all set to lay the red carpet for the 15th Edition of Asia Media Summit 2018, set to open up on 10th to 12th May. Theme of Asia Media Summit 2018 is: Telling our Stories - Asia and More.
- Asia Media Summit 2018 is being organized by Asia-Pacific Institute for Broadcasting Development.
- The Asia Pacific Summit 2018 aims to achieve vibrant and cohesive electronic media environment in the #AsiaPacific region through policy and resource development.
Punjab is all set to undertake Aajeevika Evam Kaushal Vikas Divas at 37 Blocks in the state with an aim to increase the reach of rural households to livelihoods.
- Punjab Skill Development Mission (PSDM) is undertaking Aajeevika Evam Kaushal Vikas Divas at 37 Blocks in Punjab.
- The aim of this effort is to increase the reach of rural households to Livelihoods and Skill Development schemes of Government.
National capital Delhi will host a six-day-long Festival of Bharat between May 9 and May 14 as a 21st century tribute to the majesty and depth of India's civilization.
The event will be held at the Scheduled between 9th May and 14th May at the Indira Gandhi National Centre for the Arts (IGNCA) from 8 a.m. to 10 p.m.
Awards & Honours: Sports
Sai Praneeth defeats Sri Lankan opponent to seal a berth in semi finals of New Zealand Open
- Star Indian shuttler B Sai Praneeth registered a comfortable victory over his Sri Lankan opponent Niluka Karunaratne 21-7, 21-9 to seal a berth in the semifinals of the New Zealand Open 2018.
Other Sports & Award Related News
The Korean Unification flag was signed by members of the joint Korean women's table tennis team at the World Team Table Tennis Championship.
- South Korea's Yonhap News Agency reported on Sunday that five South Korean and four North Korean players along with their respective coaches An Jae-Hyung and Kim Jin-Myong signed the unification flag.
Star Indian javelin thrower Neeraj Chopra shattered his own national record by clearing a distance of 87.43m en route finishing fourth in a star-studded field in the season opening Diamond League series meeting
- Neeraj, who recently won a gold in the Commonwealth Games with a throw of 86.47m, was up against Olympic champion Thomas Rohler, world champion Johannes Vetter and Andreas Hoffman, all of them Germans and all in the 90m club, but the 22-year-old Indian was not intimidated as he sent the spear to 87.43m in his second attempt to better his earlier national mark of 86.48m.
Veteran Marathi singer Arun Date, known for his popular song "Shukratara",died at his residence.
- The singer was not keeping well due to old age, his son Atul Date said.