Current Affairs Updates - 18th June 2018
Current Affairs Updates for 18th June 2018 has all the important news headlines mentioned in details which have been picked up from the Newspaper as a Latest News Headlines. These are all important for the upcoming Government Examinations for Bank, Rail and SSC. They are also important for other examinations such as RRB, RBI and others. Aspirants should go through these in details as we will be bringing up One Liner GK Pointers and Current Affairs Quiz on a regular basis for our viewers.
First in India & World
Meghana Shanbough becomes first woman fighter pilot from South
- Overwhelmed and humbled at the same time, 24-year-old Meghana Shanbough, who graduated to become the first woman fighter pilot from South India was at loss of words to describe how she was feeling.
New Appointments: International
Former World Bank economist sworn in as Jordan PM
- Former World Bank Economist Omar al-Razzaz was sworn in as Jordan's Prime Minister on Thursday after King Abdullah issued a decree approving the new government.
Committees in News
Insurance regulator IRDAI has formed a committee to review regulations governing the Insurance Marketing Firms (IMF).
- Such firms, which serve as a distribution channel for insurers, are governed by regulations announced about three years ago.
Banking, Economic & Financial Affairs
Housing finance major HDFC has been ranked as the 5th biggest public company globally in the 'consumer financial services category' on a list compiled by Forbes magazine.
- American Express has topped this category, while Indiabulls Housing Finance is the only other Indian company (at 13th place) on the list. In the consumer financial services category, HDFC’s rank has moved up from 7th place last year.
Markets regulator SEBI plans to revise the regulations for share buybacks wherein more clarity would be provided on various aspects, including on the requirement to make public announcements.
- The official said definition of buyback period and clarity on the requirement to make public announcement for buyback offer after declaration of postal ballot results would be provided in the amended regulations.
Banks Board Bureau (BBB), the advisory body formed by the government for selection of candidates for top level board appointment, has recommended 22 general managers to be elevated as executive directors at the various public sector banks.
- This is the first major exercise undertaken by the BBB, headed by newly appointed chairman B P Sharma, former Secretary, Department of Personnel and Training.
The Niti Aayog's ‘Composite Water Management Index’ said that most states have scored less than 50 per cent when it comes to augmentation of ground water resources.
- Talking about the growing water crises and depleting water table, the report said that 54 per cent of India’s groundwater wells are declining and 21 major cities are expected to run out of groundwater as soon as 2020.
The HRD Ministry has written to all universities mandating them to hold convocation every year after few universities were found skipping the event.
- Convocation ceremonies must be held regularly and degrees awarded annually as the event carries a huge significance for graduating students and is a moment of pride for their families
India's exports grew 20.18 percent to USD 28.86 billion in May, the highest in six months, even though the trade deficit widened to a four month high of USD 14.62 billion.
- The previous high growth of exports was recorded at 30.55 percent in November 2017.
Reliance Industries is investing in setting up India’s first carbon fibre manufacturing unit to cater to aerospace and defence needs.
- The owner of world’s largest oil refining complex will also make low-cost and high-volume composite products like modular toilets, homes and composites for windmill blades and rotor blades.
China imposed additional duties on 50-billion dollar worth of American products, a day after US President Donald Trump slapped a stiff 25 per cent tariff on Chinese goods worth similar amount, triggering a full-fledged trade war between the world’s two largest economies.
- Trump accused China of intellectual property theft and unfair trade practices as he announced 25 per cent tariff on 50 billion dollar worth of Chinese goods.
Japan’s cabinet adopted an economic plan that would allow more foreign workers as the rapidly ageing country tries to make up for its declining workforce.
- Under the plan, visa requirements would be relaxed in sectors facing severe labour shortages such as nursing, agriculture, construction and transport – new categories it would start accepting in addition to highly-skilled professionals.
The US has surpassed India to become the top destination for greenfield FDI investment in 2017
- The number of greenfield FDI projects in India during the year fell sharply by 21 per cent to 637, said the FDI Report 2018 compiled by FDI Intelligence, a division of The Financial Times Ltd.
Science & Technology
India's IT major Tata Consultancy Services (TCS) became the first listed company in India to close the day's trade with a market capitalisation of over Rs. 7 lakh crore (over $103 billion) after the firm's board approved a share buy back for about Rs. 16,000 crore.
- This is the second time the global software major is resorting to buy back its shares after it bought 5.61 crore shares in April 2017 for Rs. 16,000 crore at Rs. 2,850 per share.
Defence & Railway News
Indian Railways has decided to replace the medical cards issued to its employees and pensioners with credit card-like health cards carrying unique all-India number
- The railway board recently passed an order, saying that the separate medical identity card with unique all India number will be issued to the employees as well as to their each dependent.
Application / Portal
The Tripura government launched the GPS (Global Positioning System) and wireless based 24×7 “mobile policing” service to curb crime, especially against women.
- Launching the “mobile policing” service, Chief Minister Biplab Kumar Deb said the Bharatiya Janata Party-led alliance government’s main thrust is to make Tripura a crime and drug free state.
Agreements/ MoUs Signed
Muthoot Fincorp Limited announced its partnership with National Skill Development Corporation to train over 10,000 youth over the next three years and make them job ready.
- With the partnership, Muthoot Fincorp claims to have become the first major private sector player to partner with National Skill Development Corporation (NSDC) to launch the Pradhan Mantri Kaushal Vikas Yojana (PMKVY.2) programme.
The Maharashtra government and Canada’s Quebec province have signed a pact to increase the economic cooperation, especially in areas like information technology, biotechnology, artificial intelligence and welfare of the tribal community.
- Chief Minister Devendra Fadnavis, who is on a week-long tour to the US and Canada, signed a Memorandum of Understanding (MoU) to this effect with Quebec Premier Philippe Couillard.
An agreement on building oil storage depots at three locations in Nepal with Chinese assistance is expected to be signed during Nepali Prime Minister KP Oli’s visit to China next week
- As per the agreement, the building oil storage depots would have a combined capacity of 110,000kl at Bhairahawa, Gorkha bordering Anbukhaireni of Tanahun, and Battar area of Nuwakot.
Other Sports & Award Related News
Smriti Mandhana to become first Indian to play in England's Kia Super League
- India Women's Cricket team opener Smriti Mandhana will become the first Indian player to appear in Kia Super League - the women's cricket super league in England.