Current Affairs Updates - 7th April 2018

Current Affairs Updates - 7th April 2018

Current Affairs Updates - 7th April 2018 has all the important headlines marked here in bold with the rest of the information given in bullet points. These are important for the upcoming examinations of IBPS PO, IBPS CLERK, Rail , SSC CGL and SSC CHSL. Some mote worthy points for today includes the Global Summit, 16th International Energy Forum Meeting, 5th Women’s South Asian Handball Championship, Launch of UTTAM APP and other news. Each  of these have been incorporated under specific sections close to the one to which it belongs. These are very important for your preparation. You may also like Daily Current Affairs Quiz and Static Gk and Note Down Points for better result in the examination.

RBI in News

The Reserve Bank of India has deferred the adoption of Indian Accounting Standards (Ind AS) by banks, for a year, due to unpreparedness of banks to migrate to the new accounting system.

• According to a February 2016 RBI circular, commercial banks, barring regional rural banks, had to implement the new accounting standards from April 1.

RBI to set up Data Sciences Lab to improve surveillance, early warning detection abilities

• Reserve Bank of India (RBI) in its release on Thursday said that it has decided to set up Data Sciences Lab to improve its forecasting, surveillance and early warning detection abilities which will aid policy formulation. In a statement, the central bank has decided to gainfully harness the power of Big Data analytics by setting up a Data Sciences Lab in-house. 

Committees in News

In a move to establish regulatory framework for online media and news portals, the Information and Broadcasting Ministry has set up a committee that will recommend formation of appropriate policy.

• The committee, which has Secretary of the ministry as its convener, was set up a day after the ministry withdrew its guidelines on fake news following directions from Prime Minister Narendra Modi.

Rankings & Indexes

India emerged as the third most vulnerable country in terms of risk of cyber threats, such as malware, spam and ransomware, in 2017, moving up one place over previous year, according to a report by security solutions provider Symantec.

• In 2017, 5.09% of global threats detected were in India, slightly less than 5.11% in 2016. The U.S. (26.61%) was most vulnerable to such attacks, followed by China (10.95%), according to ‘Internet Security Threat Report’.

Delhi has topped a global list of cities with the best value on 5-star hotels, offering an average price of Rs. 9,433 a night to Indian travellers in the first half of 2015, according to a survey by 'Hotel Price Index' (HPI) .

• The national capital is followed by Mumbai, providing the best deal on 5-star accommodation to travellers with Rs. 9,638 per night, according to the latest Hotels.com 'Hotel Price Index' (HPI) report.

National Affairs

Nepalese Prime Minister KP Sharma Oli arrives in India on 3-day visit

• Nepal Prime Minister K P Sharma Oli arrived in New Delhi on a three-day visit amid hopes of both sides resetting their ties to restore full measure of mutual trust and confidence.

Telecom regulator Trai proposed the concept of Public Data Office Providers (PDOs), much like PCOs of yesteryears, to enhance Wi-Fi connectivity, and perhaps, look at cutting internet costs by up to 90%.

• Trai recommended an ambitious model of a public Wi-Fi grid that also aims to push broadband proliferation in the country. 

The Central Board of Direct Taxes(CBDT) on Thursday released a one-page simplified Income Tax Returns (ITR) Form-1(Sahaj) for the assessment year 2018-19, similar to that of the previous assessment year.

• This initiative, the CBDT said, benefited around three crore taxpayers, who filed their return in this simplified Form.

State-run power equipment maker BHEL has commissioned an 18-megawatt (MW) Mukerian hydroelectric project in Punjab

• Located on the Mukerian canal in Hoshiarpur district of Punjab, the 18-MW Mukerian project is a surface powerhouse of Punjab State Power Corporation Ltd.

International Affairs

• The presidents of Iran, Turkey and Russia meet on Wednesday for their second tripartite summit in under six months, aiming to speed the peace process for Syria and bolster their influence in the country.

Defence & Railway News

Korean Coast Guard ship 'BADARO' took part in Indo-Korean joint anti-piracy, search and rescue exercise 'SAHYOG-HYEOBLYEOG 2018' off the Chennai coast 

• Along with the Korean ship, Indian Coast Guard ships and an aircraft took part in the exercise.

Application / Portal 

Ministry of Coal launches UTTAM APP for Coal Quality Monitoring

• The Union Minister for Railways and Coal Shri PiyushGoyal today launched UTTAM App for Coal Quality Monitoring.  UTTAM stands for – Unlocking Transparency by Third Party Assessment of Mined Coal (uttam.coalindia.in).

Schemes / Programme

Suresh Prabhu inaugurates Delhi-Pathankot flight under UDAN scheme

• Civil Aviation Minister Suresh Prabhu on Thursday inaugurated first flight from Delhi to Pathankot (Punjab), at a ceremony held at the Indira Gandhi International Airport in Delhi

Ministry of Tribal Affairs to launch first ever “Van Dhan Vikas Kendra” at Bijapur, Chhattisgarh for value addition of Forest Produce 

• Minor Forest Produce (MFP) is a major source of livelihood for tribals living in forest areas.  The importance of MFPs for this section of the society can be gauged from the fact that around 100 million forest dwellers depend on MFPs for food, shelter, medicines and cash income.

Agreements/ MoUs Signed

Digital payments company PayPal and the Federation of Indian Export Organisations (FIEO) today signed an agreement for promotion of outbound shipments among small and medium enterprises (SMEs) leveraging the partners' expertise and technology products.

• As part of the agreement, PayPal will work with FIEO to educate SMEs on how to leverage global opportunities, help them receive money in a safe and timely manner with PayPal products like invoicing as well as inform them of global best practices

Azerbaijan and India have signed “The Agreement between the Government of the Republic of Azerbaijan and the Government of the Republic of India on exemption from visa requirement for holders of diplomatic, official and service passports”

• The Agreement was signed by Azerbaijan`s Foreign Minister Elmar Mammadyarov and Indian Minister of External Affairs Sushma Swaraj, while the MoU by Rector of ADA University Hafiz Pashayev and Secretary (West) in the Ministry of External Affairs of India Ruchi Ghanashyam.

Summit /Conference / Events

The Global Logistics Summit was held in New Delhi organised by the Department of Commerce, Ministry of Commerce & Industry, along with FICCI and world bank.

• 56 new airports are supposed to come up in the next few years.

India will host the 16th International Energy Forum (IEF) Ministerial Meeting from 10-12th April 2018 in New Delhi.

• The biennial IEF Ministerial Meetings are the world's largest gathering of Energy Ministers who engage in a dialogue on global energy issues. 

Awards & Honours: Sports

Teenager Deepak Lather Becomes Youngest Indian Weightlifter to Win Medal

• Teenager Deepak Lather became the youngest Indian weightlifter to claim a Commonwealth Games medal, clinching a bronze in the men's 69kg category.

India win 5th Women’s South Asian Handball Championship

• The Handball Federation of India, in collaboration with the South Asian Handball Federation, recently organised the 5th Women’s South Asian Handball Championship.

Other Sports & Award Related News

Mithali Raj Breaks Charlotte Edwards Record, Becomes Most Capped Player In Women's ODIs

• India captain Mithali Raj etched her name in record books again as she became the most capped player in women's One-Day International (ODI) cricket.