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Current Affairs Update - 6th July 2017

Current Affairs Update - 6th July 2017

Current Affairs Update - 6th July 2017

Bank unions to observe July 19 as 'Save public sector banks day'
  • The United Forum of Bank Unions has decided to observe July 19, the 48th anniversary of nationalisation of major banks, as 'Save public sector banks' day.
  • All members will wear a commemorative badge on the day, display posters in front of all branches, distribute leaflets and hold rallies/demonstrations at all centres across the country.

Jammu & Kashmir Assembly passes resolution to implement GST in the state
  • The Jammu and Kashmir Legislative Assembly adopted the Goods and Services Tax (GST) resolution during a special session on Wednesday.
  • The state assembly passed the landmark tax reform during a special session, after two days of heated exchanges and fiery debates between BJP members and the opposition.
  • The resolution moved by state Finance Minister Haseeb Drabu, was adopted through a presidential order calling on the Centre to safeguard the special status and exclusive taxation powers of the state. With this, all the states have implemented the Goods and Services Tax

New Israeli Crysanthumun flower named after PM Modi
  • In a special gesture to mark the first visit by an Indian Prime Minister to Israel in 70 years, a new fast-growing Israeli flower was named after Prime Minister Narendra Modi on Tuesday. Officials said, Israeli Crysanthumun flower will now be called ‘MODI’.
  • Israel’s official twitter handle tweeted, “New fast-growing Israeli Crysanthumun flower named in honor of Prime Minister Narendra Modi and will be called “MODI”. Indeed, a #GrowingPartnership!”
  • Also, Office of the Prime Minister tweeted, “Crysanthumun flower will be named in honour of Prime Minister Narendra Modi. The flower will be called ‘Modi’.”

India, Japan and USA to hold naval exercise next week
  • With China expanding its presence in the Indian Ocean region, the navies of India, the US and Japan are all set to undertake war games in the Bay of Bengal next week involving nuclear-powered submarines and aircraft carriers.
  • Malabar 2017 would be the first Indo-US military exercise after President Donald Trump came to power and will take place within weeks after his maiden meeting with Prime Minister Narendra Modi.
  • While the Malabar series of the exercise was originally a bilateral one involving the Indian and the US navies, the NDA government in 2015 decided to include Japan as a permanent member in the annual war drill of the maritime forces.
  • The tri-nation exercise will focus on combined carrier strike group operations, maritime patrol and reconnaissance operations, surface and anti-submarine warfare, special forces, explosive ordnance disposal, helicopter operations and seizure operations.
  • The naval exercise in the Bay of Bengal comes at a time when the China’s People’s Liberation Army’s (PLA) Navy is steadily expanding its footprint in the Indian Ocean region.
  • Much to the concerns of the Indian Navy, Chinese nuclear, as well as conventional submarines, are regularly crisscrossing the Indian Ocean as part of Beijing's anti-piracy patrol team in the Gulf of Aden.

Indian Womens Team won the ICC Women’s World Cup 2017
  • India beat Sri Lanka by 16 runs to keep their winning run at the ICC Women's World Cup going and staying top of the charts with four wins in four games. Australia also have that many points (8) after four games.
  • India took on Sri Lanka in their fourth match of the ICC Women’s World Cup and registered a comprehensive 16 run win without being put into much trouble from the sub-continental neighbours. Mithali Raj-led side batted first to score 232/8 with Deepti and Raj scoring fifties. Sri Lanka in reply couldn’t get to the target in the end with Jhulan Goswami and Poonam Yadav picking up two wickets each.

Karnataka ‘Elevate 100’ scheme for start-ups
  • The Karnataka government has launched the ‘Elevate 100’ scheme to identify and nurture innovative start-ups.
  • “The aim is to identify 100 most innovative start-ups in the state to elevate them to the next level of success,” said Priyank Kharge, Minister for IT and BT.
  • “Through Elevate, we will not only help in funding as not all startups need funding. So we will provide technical and business support based on their need,” he added.

Himachal Pradesh DGP appointed new NDRF chief
  • Himachal Pradesh DGP Sanjay Kumar has been appointed as the new chief of the National Disaster Response Force (NDRF).
  • The Union home ministry yesterday issued an order appointing Kumar, a 1985-batch Indian Police Service (IPS) officer, to the top NDRF post.
  • The post of NDRF Director General (DG) fell vacant after incumbent R K Pachnanda was appointed as the chief of the Indo-Tibetan Border Police (ITBP), the Sino-Indian border guarding force.

TERI ranked second among world's climate think tanks
  • An international body which focuses on climate policies has ranked The Energy Resources Institute (TERI) among the top think tanks in the world.
  • TERI was ranked number two by the International Center for Climate Governance (ICCG), an internationally-renowned body whose activities focus on the design of climate policy and related governance issues.

Company makes panda-shaped solar plant to power 8,000 houses
  • China-based solar energy firm Panda Green Energy Group has announced that its panda bear-shaped solar plant has been connected to the grid. 
  • The plant has an output of 50 megawatts, which is said to be enough to power more than 8,000 US households. Two different types of solar panels give the plant a monochromatic look.

'Missing link' to cut travel time on Mumbai-Pune expressway
  • The Maharashtra State Road Development Corporation has received the approval to create a 12-km 'missing link' between Khopoli and Kusgaon, which will allow motorists to drive at 100 kmph. 
  • The project, which will reportedly begin by November, will allow motorists to avoid the sections which witness landslides during monsoon season.

ICICI Bank ends joint venture pact with Fairfax Financial
  • In pursuance of the proposed sale of a part of its shareholding in ICICI Lombard General Insurance Company (ICICI General) via an initial public offering, ICICI Bank on Tuesday said its general insurance joint venture agreement with Canada-based investment firm Fairfax Financial Holdings has been terminated.
  • This move is pursuant to a termination agreement signed on Monday, the bank said in a stock exchange notice.
  • “The termination agreement has customary provisions for protection of parties in the event of non-completion of the proposed initial public offering on or before a mutually agreed date,” it said.
  • As at March-end 2017, ICICI Bank had 63.31 per cent ownership interest in ICICI General.

Union Ministry of Power declared UDAY covers 97% of discom debt
  • About 97% of the total outstanding debt of all state power distribution companies (discoms) has been covered under the Ujwal DISCOM Assurance Yojana (UDAY), the government announced on Tuesday.
  • So far, 86% of the restructurable debt has been revamped under the scheme.
  • “As on September 30, 2015, the total debt of all state-owned discoms was ₹3.95 lakh crore,” according to a statement by the Ministry of Power.
  • “The 26 states and 1 UT which have joined the UDAY scheme account for total outstanding debt of ₹3.82 lakh crore. Hence, about 97% of the total outstanding debt of all State discoms has been covered under UDAY,” the statement added.

Reliance Jio Summer Surprise, Jio Dhan Dhana Dhan Offers End in July
  • Reliance Jio users enjoyed free services for six months after the company launched operations in September, and paid nominal charges even in the subsequent three months courtesy the Jio Summer Surprise and Jio Dhana Dhan offer. However, the period of complimentary Jio services will start ending for many customers as the Summer Surprise offer comes to an end for early adopters, and the same will happen to many Jio Dhan Dhana Dhan users later this month. 
  • With the operator not announcing any new promotional offer so far, many Jio users are wondering what will happen next. In this piece, we detail how the deadline impacts users who availed the two offers, and what they should do in coming days.

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