DAILY UPDATED CURRENT AFFAIRS – 07.05.2017 TO 09.05.2017

DAILY UPDATED CURRENT AFFAIRS

NATIONAL a) Facebook has launched its ―Express Wi-Fi‖ Supreme Court Sentences Justice Karnan to 6 commercially in and the service is now Months Imprisonment available via 700 hotspots across four states of A seven-judge Constitution bench of the Supreme Uttarakhand, Gujarat, Rajasthan and Meghalaya. Court headed by Chief Justice J S Khehar has b) Express Wi-Fi is a part of Facebook‘s global sentenced the Calcutta High Court judge, Justice C S initiative to expand internet connectivity. Karnan to six months of imprisonment for repeated c) For the expansion of service, Facebook has incidents of contempt of court. This is the first time announced a partnership with Bharti Airtel for that the Supreme Court has sent a high court judge to setting up an additional 20,000 hotspots jail on charges of contempt. d) ―Express Wi-Fi‖ services are currently active in India elected as President of UN-Habitat Indonesia, Kenya, Nigeria, and Tanzania. a) India has been unanimously elected as the India poised to overtake Japan as No.3 solar PV president of the UN-Habitat, an organ of the market in 2017 United Nations to promote sustainable human a) With 8.8 GW of projected capacity addition settlements across the globe. (growth of 76 per cent over 2016) in 2017, India b) Union Minister of Housing & Urban Poverty is set to become the third largest solar PV Alleviation M.Venkaiah Naidu will preside over market, overtaking Japan, according to a report the deliberations of the Governing Council of by solar energy consulting firm Bridge to India. UN-Habitat for the next two years. b) By the end of 2017, India‘s solar power capacity c) He will chair the 26th Meeting of 58 member is expected to touch 18.7 GW, which will be Governing Council of UN-Habitat in Nairobi, about five per cent of global solar capacity, Kenya. growing by 89 per cent over last year. d) The theme of the meeting is ―Opportunities for c) As of March 2017, India had installed 12.2 GW effective implementation of the New Urban of utility scale solar capacity. Agenda‖ d) China stands first in Solar PV market. e) This is only the third time that India has been DIPP, WIPO to set up tech innovation centres elected as the President of UN-Habitat after 2007 Industrial promotion body DIPP and the World and 1988. Intellectual Property Organisation (WIPO) have CRPF Command Shifted from Kolkata to joined hands to establish Technology and Innovation Chhattisgarh Support Centres in the country, which are expected to The strategic anti-Naxal operations command boost generation and commercialisation of headquarters of the Central Reserve Police Force intellectual properties. (CRPF) has been shifted back from Kolkata to Raipur. The recent decision comes at the backdrop of BILATERAL ambush in Sukma district that killed 37 jawans of the India- Egypt: India will organise Tagore cultural paramilitary force. Festival in Egypt to mark the 156th birth anniversary India‟s First Bio Refinery Plant inaugurated in of Rabindranath Tagore from May 8-12. Tagore Pune Festival will be organised by the Maulana Azad Union Minister of Road Transport and Highway Centre for Indian Culture (MACIC), which is the Nitin Gadkari inaugurated the country‘s first bio- cultural wing of the Indian Embassy in Cairo. refinery plant which produces ethanol from the ICJ stays execution of Kulbhushan Jadhav by variety of biomass. The project is situated at Rahu in Pakistan Pune district. The International Court of Justice stayed the hanging Odisha to introduce boat ambulances in four of Indian national Kulbhushan Jadhav, who was districts sentenced to death by a Pakistani military court on Odisha will introduce boat ambulance service in four charges of spying. Jadhav was kidnapped from Iran districts i.e. Koraput, Malkangiri, Kendrapara and where he was involved in business activities after Kalahandi, where people face difficulties in getting retiring from the Indian Navy but Pakistan claimed to health service.In these districts, people face problems have arrested him from Balochistan on March 3, in availing 108 ambulance service due to intervening 2016. large water bodies in the form of rivers and dams 29th India-Indonesia Co-ordinated Patrol disrupting road communication. (CORPAT) Commences Facebook Launches „Express Wi-Fi‟ in India The 29th India–Indonesia CORPAT has commenced at Port Blair under the aegis of Andaman and Nicobar

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DAILY UPDATED CURRENT AFFAIRS – 07.05.2017 TO 09.05.2017

Command. The bilateral exercise is scheduled to be  2016-17 -6.6% held from 9th to 25th May. The Indonesian Naval  2017-18 -7.2% Ship KRI Sutedi Senoputra has arrived to take part in  2018-19-7.7% the 29th series of IND–INDO CORPAT. World Bank  2016-17 -7% INTERNATIONAL  2017-18 -7.6% Times Rich List 2017  2018-19-7.8% The 29th edition of the Sunday Times Rich List‘ Asian Development Bank (ADB) released the names of UK‘s 1000 wealthiest people  2016-17 -7.1% including 40 Indian-born citizens. Hinduja Brothers  2017-18 -7.4% Srichand and Gopichand have topped the list.  2018-19-7.6% Emmanuel Macron elected as President of France Emmanuel Macron, 39-year-old has been elected as the president of France. He has become the youngest New Heads of PSU Banks President of France. He will succeed François Bank CEO H.Q. Tagline Hollande. Bernard Cazeneuve is the PM of France. Allahabad Usha Kolkata A Tradition South Korea Election: Moon Jae-in elected as Bank- Ananthasubra of Trust President manian Democratic Party‘s candidate Moon Jae-in has been Indian R Subramania Chennai Good people declared winner in South Korea‘s presidential Overseas Kumar to grow with election by that country‘s National Election Bank Commission. Moon will replace the ousted President Union Rajkiran Rai G Good People Park Geun-hye, who was ejected from office in Bank of to Bank with March after a corruption scandal for which she‘s India awaiting trial. Syndicate Melwyn Rego Manipal A Faithful & China‟s C919 Passenger Jet completed its Maiden Bank Friendly Flight Financial China‘s home-grown Twin-engine C919 completed Partner its maiden flight from Shanghai Pudong International Punjab Sunil Mehta New The name Airport. It is a part of China‘s broader ―Made in National you can bank China 2025‖ plan aimed at boosting its domestic Bank upon high-tech manufacturing. The made-by-China airliner Bank of Dinabandhu Mumbai Relationship is set to compete with Boeing 737 and Airbus 320, India Mohapatra beyond but is much cheaper. (COMAC) spent 11 years and banking £5 billion ($6.5 billion) developing the plane as a part Vijaya Sankara Bengaluru A friend you of China's aviation dreams Bank Narayanan can bank on IDBI Bank Mahesh Mumbai Banking For ECONOMY & BANKING Kumar Jain All, ―Aao Asia will continue to lead global growth: IMF Sochein a) According to IMF the growth of Asia-Pacific Bada‖ region is expected at 5.5 per cent for 2017 and Indian Lishore P Chennai Your Tech- 5.4 per cent for 2018, which are above the 5.3 Bank Kharat Friendly per cent registered last year. Bank b) The results are expected to boost the global average, which is forecast to be around 3.5 per SBI cuts low-cost home loan rates by 0.25% to cent for 2017 and 3.6 per cent for 2018, against 8.35% the 3.1 per cent recorded in 2016. a) State Bank of India has announced a 25 basis c) As per IMF India‘s growth is expected to 7.2 per points cut in home loans rate to 8.35 per cent per cent in 2017-18 and 7.7 per cent in 2018-19.It annum, the lowest in the market. also announced that Growth for 2016-17 is b) The new rate is effective from May 9. expected to decelerate to 6.8 per cent. c) The bank said the effective interest rate for all d) The IMF predicted a slight slowdown for China, eligible salaried customers will be 8.35 per cent with a growth rate of 6.6 per cent for 2017 and for loans up to Rs. 30 lakhs. 6.2 per cent for 2018. d) Besides, an eligible home loan customer can Growth rate fore cast by Intr. Org also avail of an interest subsidy of Rs. 2.67 lakhs IMF under the Pradhan Mantri Awas Yojana scheme.

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Forex Reserves Touch Life Time High of $372.73 early and check them by putting in place a billion corrective action plan (CAP). According to the Reserve Bank of India‘s weekly d) As per the new norms, RBI lowered the statistical supplement, India‘s foreign exchange threshold needed for implementing a CAP — (Forex) reserves have increased by $1.594 billion to decisions agreed to by a minimum of 60% of touch a lifetime high of $372.73 billion in the week creditors by value and 50% of creditors by that ended on April 28. number will now be valid. The components of India‘s Foreign Exchange e) Earlier, 75% of the lenders by value and 60% Reserves include: by number needed to sign off on a CAP. 1. Foreign currency assets (FCAs) -$349.055 f) Once a decision was taken, the RBI said, it billion would be binding on all the others and must be FCAs consist of US dollar and other major non- implemented without any additional US global currencies. It also comprises of conditionalities. investments in US Treasury bonds, bonds of g) If a lender wanted to exit, it could do so by other selected governments, deposits with resorting to the substitution option but if it foreign central and commercial banks. FCAs failed to exit within the given time, it would include with them the effects of appreciation or need to go along with the decision taken. depreciation of non-US currencies like the euro, RBI restricts loss making IDBI Bank from hiring, pound, and the yen and is expressed in terms of opening branches dollars. a) The Reserve Bank of India (RBI) has initiated 2. Gold Reserves - $19.869 billion ‗prompt corrective action‘ on IDBI Bank which 3. Special Drawing Rights (SDRs) -$1.460 billion. will restrict bank from hiring, opening branches The SDR is an international reserve asset, and giving big ticket loans. created by the IMF in 1969 to supplement its b) The bank had suffered historic loss of Rs 2,255 member countries‘ official reserves. crore in the December quarter 2016 as it had to SDRs can be exchanged for freely usable make huge provisions for bad loans. currencies. The value of the SDR is based on a c) The ‗prompt corrective action‘ is triggered when basket of five major currencies—the US dollar, a bank‘s bad loan is above 6% the euro, the Chinese renminbi (RMB), the d) IDBI Bank‘s gross NPA had crossed 15% in Japanese yen, and the British pound sterling. quarter ending December 2016 and according to 4. RBI‘s Reserve position with International a report by rating company Icra Monetary Fund (IMF)-$2.347 billion. e) IDBI Bank is the first bank against which the Edelweiss Tokio launches India‟s first Life revised PCA has been invoked. The central Bank insurance Product is likely to do the same in the case of Dena Bank. a) Edelweiss Tokio launched India‘s first and the Cashkaro.com ties up with YES Bank to launch simplest life insurance product that can be card-linked offers bought at a point of sale (PoS). Private sector bank Yes Bank has announced its tie- b) Edelweiss Tokio Life Insurance has recently up with Cashkaro to launch India‘s first Card Linked launched PoS Saral Nivesh, the first product to Offers (CLO) cash-back proposition. Yes Bank be approved by the Insurance Regulatory and cardholders simply need to use their Yes Bank debit Development Authority of India‘s (IRDAI) card to pay at these offline stores/websites. guidelines on point of sale-life insurance Airtel and Ola to offer integrated digital services products. Telecommunications services provider Bharti Airtel c) PoS Saral Nivesh is a non-linked, non- is partnering with taxi aggregator Ola to offer a range participating endowment life insurance plan of digital services to customers. Ola will leverage which offers both protection and saving. Airtel‘s integrated suite of enterprise services to RBI tightens Rules for JLF power its operations, while Airtel will leverage Ola‘s a) The Reserve Bank of India (RBI) has tightened vast network of driver-partners. the rules around making the Joint Lenders‘ AirtelCEO: Gopal Vittal Forum (JLF) more effective and to meet all OLA CEO: Bhavish Aggarwal deadlines. Founders: Bhavish Aggarwal, Ankit Bhati b) The RBI has said that any breach of rules would SEBI allows subscription to MF schemes through attract a monetary penalty. e-wallets c) JLFs are meetings held to revitalise stressed Securities markets regulator Sebi permitted assets. In JLF banks attempt to red-flag stress subscription to mutual fund (MF) schemes through e- wallets.According to SEBI‘s guidelines, investors can

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DAILY UPDATED CURRENT AFFAIRS – 07.05.2017 TO 09.05.2017 invest up to Rs 50,000 per MF per financial year SPORTS through e-wallets.  The Chief Minister of Odisha ‗Naveen Patnaik‘ has released the logo and mascot of the ‗Asian PERSON IN NEWS Athletics Championships‘ in presence of Indian scientists elected fellows of Royal Society Olympians PT Usha and Anju Bobby The three Indian-origin scientists have been elected George.Olive Ridley to be mascot of Asian fellows of the Royal Society. They are Athletics.The Asian Athletics Championships 1. ‘Krishna Chatterjee’- Discoveries of genetic will be held at Kalinga Stadium in Bhubaneswar disorders of thyroid gland formation. from 6th to 9th July this year. 2. ‘Yadvinder Malhi’ -Works on understanding the  Indian boxer ‗Kavinder Singh Bisht‘ has functioning of terrestrial ecosystems qualified for the World Championships in the 52- 3. ‗Subhash Khot’ -In the field of computational kg category after getting a walkover against complexity. Salam Abdul Kasim (Malaysia) at the Asian Neil Chatterjee: US President Donald Trump has Championships in Tashkent, Uzbekistan. nominated Indian-American Neil Chatterjee as a Now,five Indian boxers ‗Kavinder Singh Bisht‘, Member of Federal Energy Regulatory Commission Vikas Krishan, Amit Phangal, Shiva Thapa and (FERC). Sumit Sangwan have confirmed for the World Leila Seth: Justice Leila Seth who became the first Championships. woman Chief Justice of a State High Court has  Jhulan Goswami has become the highest wicket- passed away. She has also received the distinction of taker in women's one-day internationals. becoming the first woman to top the London Bar Goswami has so far taken 181 wickets in 153 exam as well as the becoming the first female judge matches. She has broken the world record held of the Delhi High Court. by Australia fast bowler Cathryn Fitzpatrick. Ustad Raees Khan: Pakistani Legendary sitar player  India‘s first ever boxing league to be held in Ustad Raees Khan died. . Super Boxing League (SBL) will be held in New Delhi from July 7 to August 12, AWARD 2017. Hollywood Actor Emma Watson bags first ever „genderless‟ award MISCELLANEOUS Hollywood actor Emma Watson has received the “Mukti Bhawan” Wins The Best Film Award At The first-ever Genderless Acting Award for the Best New York Indian Film Festival Actor category at the MTV Movie and TV Awards. The film, directed by Shubhashish Bhutiani and featuring Emma Watson is a British actress, model, and Adil Husain and Lalit Behl, revolves around an activist. interesting relationship between a father and son after the Saqib Majeed has bagged 2016 Wisden-MCC former decides to die in the Hindu holy city of Varanasi Cricket „Photograph of the Year‟ Award and his son is forced to join his journey. Kashmir based freelance photographer has bagged NBA inaugurated academy in India prestigious 2016 Wisden-MCC (Melbourne Cricket In a promising step for Indian basketball, the National Council) Cricket ‗Photograph of the Year‘ for Basketball Association (NBA)— the governing body of capturing a stunning image of boys playing cricket at the game in US has inaugurated its first ever academy in the Nishat garden in the outskirts of Srinagar. With Noida, .Recently NBA) has launched its this Saqib Majeed has become the first Kashmiri and first basketball school in India in Mumbai, capital of second Asian after Atul Kamble to receive the Maharashtra. prestigious award. India to launch Rs 10,000-crore Deep Ocean Mission Sachin Tendulkar conferred with Fellowship India has planned to launch a Rs 10,000-crore Deep Award in UK Ocean Mission in December to carry out research to a) India‘s cricket icon Sachin Tendulkar has harness ocean resources in a ―responsible manner‖.The received the Fellowship Award at the 7th annual proposed inter-ministerial and interdisciplinary project is Asian Awards in UK. expected to begin from December 2017. b) The award for outstanding achievement in Cinema was posthumously conferred on Om Puri IMPORTANT DAY who died earlier this year. World Red Cross Day: 8th May 2017 c) India‘s playback singer Adnan Sami won the World Red Cross Day is observed on May 8 every award for ‗Outstanding achievement in Music‘. year to commemorate the birth anniversary of Henry Dunant, the founder of the Red Cross.The theme for this year (2017) is ―Less Known Red Cross Stories‖.

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