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Competition-Booster-June-Eng.Pdf www.mahendraguru.com concerns over fiscal slippages in view of Eco/Banking/RBI rush for farm loan waivers. The fifth meeting of Monetary Policy ECONOMY Committee (MPC) maintained the repo rate, at which it lends to the banks, at 6.25 JUNE 01 : The World Bank will extend a loan of USD per cent and the reverse repo, at which it 36 million to improve the efficiency of borrows, will be 6 per cent. public expenditure management and tax administration in Himachal Pradesh. JUNE 08 : India signed the OECD multilateral convention that aims to check cross-border The programme duration is 5 years. tax evasion by multinational companies. The programme size is USD 45 million, of JUNE 09 : According to the global financial services which USD 36 million will be financed by major HSBC, India's growth is likely to the Bank and the remaining amount will be remain unchanged at 7.1 per cent this fiscal, funded out of state budget. as investments are low and government JUNE 02 : The country's economic growth is expected spending may not remain high given the fiscal to recover to 7.2 per cent in new GDP consolidation path the country is treading. series in financial year 2017-18 on lending JUNE 10 : Siemens Industry Software India Pvt. Ltd. rate cuts, says a survey. has signed an MoU with the Karnataka The data released by the Central Statistics Government Tool Room and Training Office (CSO) noted that the Gross Value Center and Design Tech Systems Limited Added (GVA) slipped sharply to 6.6 per to establish four Centers of Excellence cent in the last financial year ended March across the state. 31, from 7.9 per cent growth in 2015-16. According to the state government, the JUNE 02 : India’s GDP growth is expected to total cost of the project is Rs 2031.80 crore, recover from 7.1 per cent in 2016-17 to out of which Siemens Industry Software, 7.2 per cent this fiscal and further to 7.7 India contributes Rs 1822.48 crore and per cent in 2018-19 largely driven by the Government of Karnataka's share is Rs government's reform push and recovery in 219.32 crore. private investments. JUNE 13 : Retail inflation slumped to record low JUNE 03 : Shri Goyal proposed a partnership with of 2.18 per cent in May driven by sharp EESL, which can help India leapfrog drop in kitchen staples like vegetables and and distribute energy efficiency products pulses, strengthening government's case across the globe. for lowering of interest rate by RBI. JUNE 04 : India's economic growth is expected to Retail inflation was the lowest since the remain flat at 7.1 per cent in current fiscal government started publishing a wider CPI as investment is still weak and government data in 2012. spending might not be as high given the JUNE 14 : HDFC Bank surpassed Reliance Industries fiscal consolidation, says an HSBC report. Ltd to become the country’s second JUNE 04 : Noting that India is recovering from most valued firm in terms of market the temporary adverse effects of capitalization. demonetisation, the World Bank has TCS is the most valued Indian company. projected a strong 7.2 per cent growth rate for India this year against 6.8 per cent JUNE 14 : The Reserve Bank of India (RBI) growth in 2016. announced that it has issued Rs 500 denomination notes with inset letter A. The World Bank in its latest Global Economic Prospects, projects India’s The RBI also made it clear that the old growth at 7.5 per cent in 2018 and 7.7 per notes, which were introduced after Prime cent in 2019. Narendra Modi’s demonetisation drive in November 2016, will continue to remain JUNE 07 : The Reserve Bank kept interest rate the legal tender. unchanged as widely expected but raised www.mahendraguru.com [2] www.mahendraguru.com JUNE 16 : China-led Asian Infrastructure Investment ratio) for 24X7 Power for All in Andhra Bank has approved $150 million equity Pradesh Project was signed. investment loan to the India Infrastructure Total Cost of the project is US$ 570 Fund, the bank's first such loan to fund million, out of which US$ 240 million private projects. is from World Bank (IBRD) and US$ The bank, in which India is a lead partner, 160 million from AIIB. The rest will be has approved two loans and one equity counterpart funding from GoAP. investment totalling $324 million to The objective of the project is to increase support infrastructure projects in India, the delivery of electricity to customers and Georgia and Tajikistan. to improve the operational efficiency and JUNE 17 : The government made the Aadhaar card system reliability in distribution of electricity mandatory for opening bank accounts and for in selected areas in Andhra Pradesh. financial transactions of Rs 50,000 and above. JUNE 23 : Retirement fund body EPFO joined hands Existing bank account holders have been with Housing and Urban Development asked to submit the Aadhaar number issued Corp (HUDCO) to enable its members avail by the Unique Identification Authority of credit-linked subsidy of up to Rs 2.67 lakh India (Uidai) by December 31, 2017. for buying affordable homes under PMAY. JUNE 21 : French defence firm Thales and Reliance Under the housing scheme, the Employees Defence Limited sealed a deal for setting Provident Fund Organisation (EPFO) up a joint venture (JV) with a shareholding allows its subscribers from societies for of 49 per cent and 51 per cent respectively. withdrawing up to 90 per cent of their EPF The JV is being set up to develop Indian accumulations to buy homes. capabilities to integrate and maintain JUNE 24 : After a gap of 2-months, Reliance radars and manufacture high performance Industries Ltd (RIL) regained the status of airborne electronics, leveraging Thales the country's most valued firm, overtaking offset commitment as part of the deal for Tata Group's TCS in terms of market the supply of 36 Rafale fighter aircraft to valuation. Indian Air Force. JUNE 24 : Telecom operator Bharti Airtel announced JUNE 22 : World Bank's Board of Executive Directors the launch of *121# Digital Care platform has approved a loan assistance of 44 million in 11 Indian languages, including Hindi, dollars for the Assam State Public Finance Punjabi, Marathi, Gujarati, Tamil. Institutional Reforms (ASPIRe) Project. This support will be available in Kannada, The project aims at improving predictability Bangla, Odia and Assamese as well. and transparency in budget execution and JUNE 26 : The World Bank has cleared a USD efficiency in tax administration in Assam. 250-million loan for making Indian youth JUNE 22 : Economic think-tank NCAER has revised more employable through reskilling, in a up its projection for the country’s economic move that is seen to aid the Skill India mission. growth to 7.6 per cent for the current fiscal, Under the programme, adults in 15-59 years compared with the earlier prediction of 7.3 of age, underemployed or unemployed, per cent on forecast of normal monsoon. will get the skill training. The World Bank has forecast growth to be JUNE 28 : Technology major SAP India has partnered 7.2 per cent during 2017-18. with the Ministry of Micro, Small and JUNE 23 : Reliance Defence Limited said it has entered Medium Enterprises (MSME) to jointly into a Memorandum of Understanding launch Bharat ERP, a programme aimed at (MOU) with Daher Aerospace, France for digital empowerment of small businesses manufacture of aerospace components. in the country. JUNE 23 : A Loan Agreement for part funding of US$ The initiative aims to digitally enable 240 million from the World Bank (IBRD) nearly 30,000 MSMEs and youth in the and US$ 160 Million from AIIB (60:40 next three years. www.mahendraguru.com [3] www.mahendraguru.com National & State News of JUNE 05 : India has surpassed China to secure the top position among 30 developing countries the Month on ease of doing business, according to a study that cited India's rapidly expanding JUNE 01 : BJP leader and Chandigarh MP Kirron Kher economy, relaxation of FDI rules and a released the stamp on the commemoration consumption boom as the key drivers. of Balwant Gargi centenary by the Panjab JUNE 06 : India signed a USD 39.2 million (over Rs University. 251 crore) loan agreement with the World JUNE 01 : ePayLater, a Mumbai-based fintech firm Bank for the Citizen Centric Service has joined hands with IRCTC for adding Delivery project in Assam. the new feature to Indian Railways ticket The programme size is USD 49 million, of booking services. which USD 39.2 million will be financed ePayLater's 'buy now, pay later' feature will by the Bank and the remaining amount enable you to buy tickets using a loaded will be funded out of the state budget. e-wallet and you will get 14 days to pay The Programme’s duration is 5 years. the money. JUNE 06 : Actress Dia Mirza was on World JUNE 02 : The Punjab government and the United Environment Day appointed brand Kingdom decided to join hands for ambassador for the Wildlife Trust of India imparting skill training and technical (WTI). education to the youths of the state in order to provide them better employment JUNE 07 : J P Nadda, Union Minister for Health and opportunities abroad. Family Welfare launched the ‘Skill for Life, Save a Life’ initiative to promote JUNE 03 : The President of India, Pranab Mukherjee skill development in the health sector. laid the foundation stone of a Driver’s Training Institute and a Secondary School ‘Skills for Life, Save a Life’ Initiative’ aims under the SMARTGRAM Initiative at to upscale the quantity and quality of trained village Dhaula, Gurugram (Haryana).
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