Daily Current affairs - May 10th, 2018 for all competitive exams
India and Panama have
signed 2 agreements on the exemption of Visas for holders of
Diplomatic and Official Passports and in the field of
Agriculture.
- These agreements were
signed during the second leg visit of Vice President M
Venkaiah Naidu to Panama.
- These ties are based on common
values and a shared commitment to democracy, pluralism, and
multi-culturalism of both the countries. 2 centres for Biodiversity and
Innovation will be set up by India in Panama worth US $10 mn and US
$15 mn each.
Panama
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Capital
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Panama City
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Currency
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Panamanian balboa
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President
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Juan Carlos Varela
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MoSJ&E drafted Senior Citizen draft Bill,2018
The Ministry of Social Justice and Empowerment has drafted the Maintenance
and Welfare of Parents and Senior Citizen Draft Bill, 2018, that will amend the
2007 version of the legislation to expand its scope and provide for more
stringent penalties.
- The Bill enhances the jail term
for those found abandoning or abusing their parents, 60 years or older, to
six months from the existing three months.
- The Bill expands the definition of
children, which currently refers to only biological children and
grandchildren, to include daughter-in-law and son-in-law and also
adopted/step-children.
- It extends the definition of
maintenance beyond provision of food, clothing, housing, health care to
include “safety and security” of the parent.
- The Bill proposes to make monthly
maintenance amount variable as people who earn more, can afford to shell
out a higher amount for the upkeep of their parents.
- The Bill also introduces a
punitive measure of up to one month imprisonment in case the monthly
allowance remains unpaid.
- The Bill will require the
government to establish and run at least one Senior Citizen Care Home in
every district in the country.
15th Finance commission
constituted advisory council
The 15th Finance
Commission has constituted an advisory council to advise and assist the
commission.
- The six-member council will
be headed by the President of Forum for Strategic Initiatives, Arvind
Virmani.
- The role and functions of the
council will be to advise the commission on any issue or subject related
to the Terms of Reference (ToR) of the Commission.
Finance Commission is a
body set up under Article 280 of the Constitution. Its primary job is to
recommend measures and methods on how revenues need to be distributed between
the Centre and states.
The Constitution provides
that Finance Commission shall consist of a Chairman and four other members to
be appointed by President. The Chairman or members are eligible for
reappointment.
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Government approved for Green licence plates for
e-vehicles
The government has approved distinctive green licence plates for electric
vehicles to encourage people to use electric vehicles. Such vehicles will be
fitted with green licence plates bearing numbers in white fonts for private
cars and yellow font for taxis.
- The measure is aimed at promoting
e-vehicle’s use and the government is considering exemption from permits
for such vehicles.
- The purpose behind distinctive
number plates is their easy identification for preferential treatment in
parking, free entry in congested zones besides other proposed benefits
like concessional toll.
The Government started Faster Adoption and Manufacturing of Hybrid and
Electric vehicles (FAME) scheme which provides incentives for purchasing
electric vehicle. It is a part of the National Electric Mobility Mission
Plan. The scheme envisages Rs 795 crore support in the first two fiscals
starting with the current year. It is being administered by the Heavy
Industries Ministry.
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India, currently, has four kinds of number plates – white licence plates
with numbers on black font for private cars, yellow plates with fonts in
black for commercial vehicles, black plates with yellow font letters for
self-driven rental vehicles and blue plates with white font letters for
Embassies and High Commissions.
Army vehicles, on the other hand, follow a different registration system
given by the defence ministry, while vehicles of the President and governors
have red licence plates with the national emblem.
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Government mulls 100% FDI
in insurance intermediaries
The government is
considering allowing 100 per cent foreign direct investment (FDI) in insurance
intermediaries with a view to give a boost to the sector and attracting more
funds.
- Intermediary services include
insurance broking, third party administrators, surveyors and loss
assessors.
- The FDI policy, at present, allows
49 per cent foreign investment in the insurance sector, which includes
insurance intermediaries.
Two-wheeler helmets to
have mandatory BIS certification: Nitin Gadkari
Union minister Nitin
Gadkari said two-wheeler helmets should have mandatory certification
of BIS and having ‘two-wheeler’ marking in word or picture on them.
- The new helmets to be designed on
the recommendations of a committee will also be India-specific and will
weigh at least 300 grams less than the existing ones.
- The steps are aimed at not only
bringing down the road fatalities but also to promote the usage of a
helmet while riding a two-wheeler without compromising safety.
TRAI releases draft of
Telecom interconnection regulations
Telecom regulator Telecom
Regulatory Authority of India (TRAI) issued a draft to amend interconnects
regulations, proposing certain changes in terms and conditions for operators to
seek fresh call connect ports from other telcos.
- The 'draft Telecommunication
Interconnection (Amendment) Regulations 2018' proposed that a service
provider can ask another operator for additional ports, in case the
projected utilisation of the capacity is likely to exceed 85% over 60
day period.
China’s heavy military
transport aircraft conducts first airborne training
China’s Y-20 heavy military
transport aircraft has undergone its first airborne and air delivery training.
It marked a leap in the air force’s strategic delivery and long-distance
airborne combat abilities.
- The air force is a strategic
service, and its strategic capability should be in line with the
constantly expanding national interests.
- The Y-20, which joined the
People’s Liberation Army Air Force in July 2016 and has a maximum take-off
weight of around 200 tonnes.
Leaders of China, Japan
and South Korea met in Tokyo
The leaders of China, Japan
and South Korea met in Tokyo against the backdrop of historic
diplomatic moves by North Korea and a push for the isolated country to give up
its nuclear weapons.
- Japanese Prime Minister Shinzo
Abe, Chinese Premier Li Keqiang and South Korean President Moon
Jae-in held talks in the first three-way summit in two-and-a-half
years.
- The leaders also discussed
cooperation on economic issues.
eBay to sell a stake in
Flipkart for about $1.1 billion, to relaunch eBay India
US-based eBay said it
plans to sell its stake in Flipkart for about $1.1 billion.
- The statement by eBay came after
Walmart Inc announced that it is buying 77 percent stake in Flipkart for
about $16 billion.
- Only last year, Flipkart group
raised $1.4 billion from global technology majors eBay, Tencent and
Microsoft.
Japanese retailer Uniqlo
opens first Indian store in Delhi next year
Fast Retailing Co., owner of
the Uniqlo casual-wear brand, will open its first store in India next year.
- The Japanese company’s opening of
a New Delhi store in the autumn of 2019 has been long in the making.
- Tadashi Yanai, Fast Retailing’s
founder, had sought access to the Indian market as far back as 2011.
YES Bank to launch
water-security programme
YES Bank is all set to
roll out a capacity building project with farmers in Haryana and Rajasthan
under its ‘Livelihood and Water Security’ CSR initiative.
- Agriculture productivity has come
under pressure during the last couple of years because of climate change
and water security.
- This initiative is aimed at
improving farmers’ access to finance, ensuring effective use of digital
banking resources, and imparting good agricultural practices.
Yes Bank
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Headquarters
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Mumbai
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Tagline
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Experience our Expertise
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MD and CEO
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Rana Kapoor
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Business optimism index:
India ranks 6th, Austria tops
India was ranked 6th on
Global Optimism Index released as part of Grant Thornton’s
International Business Report (IBR) in the first quarter of 2018.
- The report was prepared based on
the results of a survey of 2,500 businesses in 37 economies.
- India had topped the chart for
four years. The top five nations in the report are Austria, Finland,
Indonesia, the Netherlands and the US.
Union minister for civil
aviation Suresh Prabhu inaugurates 6th US-India aviation summit
The 6th US-India Aviation
Summit was formally inaugurated by Union Minister for Civil Aviation, Suresh
Prabhu in Mumbai
- The biennial Summit is jointly
organised by Ministry of Civil Aviation and US Trade and Development
Agency (USTDA).
- The summit is a technical, policy
and commercial forum by the Indian Ministry of Civil Aviation and the US
Trade and Development Agency.
- Besides a US and India bilateral
meeting, the summit will also include sessions on India’s projected
aviation growth in next five years, aviation security and technologies for
worldwide airspace management among others.
Pawan Kumar Agarwal gets
extension as CEO of FSSAI
Pawan Kumar Agarwal was
given three months extension as Chief Executive Officer (CEO) of the Food
Safety and Standards Authority of India (FSSAI).
- The tenure of Agarwal, a
1985-batch IAS officer of West Bengal cadre, has been given three-month
extension beyond May 15, 2018, an order issued by personnel ministry.
- He was appointed as the CEO of the
FSSAI in December 2015.
Mahathir, 92, to be sworn
in as Malaysia prime minister after historic poll win
Malaysia’s Mahathir Mohamad
will be sworn in as the world’s oldest elected leader.
- After his opposition alliance
pulled off a stunning election win, ending six decades of rule by a
coalition he once led.
- Mahathir led the Southeast Asian
nation for 22 years and his unexpected return to the prime ministership
ends the previously unbroken rule of Barisan Nasional.
Nisha Bhalla conferred
with 'WEF 2018' award
Nisha Bhalla, a
46-year-old holistic coach and consultant from Mumbai was felicitated at the
recently concluded Annual Women Economic Forum (WEF) 2018
Awards.
- WEF is the largest global
gathering of women entrepreneurs and leaders worldwide.
- The event was held in Delhi. Nisha
was presented the 'Excellent Woman of Excellence' award for her
spiritual service at the event.
Afghanistan to host
Bangladesh T20s in India
Afghanistan will host
Bangladesh for three T20 Internationals in Dehradun prior to the strife-torn
nation’s historic one-off Test against India.
- The Rajiv Gandhi
International Cricket Stadium will host the three day-night fixtures,
scheduled for June 3, 5 and 7.
- Afghanistan and Bangladesh have
only met once previously in the shortest format at the 2014 ICC World
Twenty20.
