Daily Current affairs - June 15th, 2017 for all competitive exams
The government has approved the Interest Subvention Scheme (ISS) for
farmers for the year 2017-18. This will help farmers getting short term crop
loan up to Rs. 3 lakh payable within one year at only 4% per annum. The
Government has earmarked a sum of Rs. 20,339 crore for this purpose.
- The Interest Subvention Scheme will continue for one
year and it will be implemented by NABARD and RBI.
- The objective of the scheme is to make available at
ground level, agricultural credit for Short Term crop loans at an affordable
rate to give a boost to agricultural productivity and production in the
country.
Union cabinet approved Bill to deal with financial sector
crisis, protect consumers
The Union Cabinet has approved the proposal to introduce a Financial
Resolution and Deposit Insurance Bill, 2017.
- The Bill would provide for a comprehensive
resolution framework for specified financial sector entities to deal with
bankruptcy situation in banks, insurance companies and financial sector
entities.
- The Bill when enacted, will pave the way for setting
up of the Resolution Corporation. It would lead to repeal or amendment of
resolution-related provisions in sectoral Acts as listed in Schedules of
the Bill.
- The Resolution Corporation would protect the
stability and resilience of the financial system; protecting the consumers
of covered obligations up to a reasonable limit; and protecting public
funds, to the extent possible.
Cabinet approves MoU between
India and Palestine on agriculture cooperation
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has
given its ex-post facto approval to the Memorandum of Understanding (MoU)
between Ministry of Agriculture & Farmers’ Welfare and the Ministry of
Agriculture in the State of Palestine on agriculture cooperation.
- The MoU was signed in May 2017 during the visit of
the Palestinian Minister of Foreign Affairs to India.
- The MoU provides for cooperation in the fields of
agricultural research; veterinary field including capacity enhancement of
Palestinian Veterinary services and Animal Health; irrigation and climate
change.
Health Ministry launches
Intensified Diarrhoea Control Fortnight (IDCF)
The Ministry of Health and Family Welfare has launched the Intensified
Diarrhea Control Fortnight (IDCF) in order to intensify efforts to reduce child
deaths due to diarrhoea.
- Through this initiative, the Ministry will mobilize
health personnel, State Governments and other stakeholders to prioritize
investment in control of diarrhea, one of the most common childhood
illnesses.
- It aims to create mass awareness about the most
effective and low-cost diarrhoea treatment— a combination of Oral
Rehydration Salt (ORS) solution and Zinc tablets.
Now, subsidy for weavers’
education in open schools
In a bid to offer affordable
educational opportunities to weaving communities, the Ministry of Textiles
(MoT) will subsidise the education of all weavers enrolled in the National
Institute of Open Schooling (NIOS), an autonomous institution under the
Ministry of Human Resource Development (MHRD).
- They will get certificates equivalent to the
secondary-level national board certificates, and will be free to take
subjects that augment their occupational skills.
- The MoT will reimburse 75 per cent of the education costs to the NIOS, which means the weaver needs to pay only one-fourth of the normal fee. For women and members of Scheduled Caste communities who are weavers, the NIOS will waive the remaining 25 per cent as well, thereby enabling them to study and get a certificate free of cost.
RBI imposes curbs on Central
Bank
The Reserve Bank of India
has put state-run lender, Central Bank of India, under prompt corrective action
(PCA) due to a sharp increase in bad loans.
- The net NPA ratio of the lender was 10.2% as on
March end, which breached the second risk threshold of 9%.
- In April, the banking regulator had revised the PCA
framework, following which restrictions were imposed on three banks i.e.,
Dena bank, UCO bank and Central Bank of India.
WPI inflation slows to 2.17%
Wholesale inflation slowed sharply in May to 2.17% from 3.85% in April, as
food prices eased — an indication that farm incomes continue to be depressed.
- The overall primary goods category in the WPI saw a
contraction of 1.79% in May compared with a growth of 1.82% in April, with
the food articles sub-group contracting 2.27%, compared with a growth of
1.16% in April.
- The recently-introduced composite food index,
combining the food sub-group in the primary articles category and the food
sub-group in the manufactured products category, saw inflation slowing to
0.15% in May from 2.9% in April.
Neeru Chadha becomes first Indian woman to be member of
International Tribunal for the Law of the Sea
In a significant victory for India at the UN, international law expert
Neeru Chadha has won a crucial election to a top UN judicial body that deals
with disputes related to the law of the sea, becoming the first Indian woman to be
appointed as a judge at the tribunal.
- Chadha, an eminent lawyer and the first Indian woman
to become the chief legal adviser in the ministry of external affairs, is
elected for a nine-year term from 2017 to 2026.
- The Hamburg-based ITLOS, established in 1996,
is one of dispute settlement mechanisms under the UN Convention on
the Law of the Sea (UNCLOS) that entered into force in 1994.
Envoys to Italy, Denmark,
Belgium, EU appointed
The government appointed ambassadors to Italy, Denmark, Belgium and the
European Union.
1. Gaitri Issar Kumar, a 1986-batch IFS officer, is India’s
next ambassador to Belgium. She will also be accredited as India’s ambassador
to the EU.
2. Reenat Sandhu, a 1989-batch IFS officer, will move to
Italy.
3. Ajit Vinayak Gupte (1991 batch) heads for Denmark.
Ex-UN chief Ban Ki-moon proposed to head IOC's ethics
commission
Former United Nations secretary-general Ban Ki-moon was
on Wednesday proposed to chair the Ethics Commission of the International
Olympic Committee (IOC).
- The proposal will be put for vote to the full membership at the IOC session in Lima in September.
