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Daily Current affairs - June 7th and 8th, 2018 for all competitive exams


June 8 - World Ocean Day
World Oceans Day takes place every year on June 8.
  • The conservation action theme for World Oceans Day 2018 will be "Preventing plastic pollution and encouraging solutions for a healthy ocean".
  • World Oceans Day helps raise the profile of the ocean and inspire more involvement in helping to conserve this amazing resource we all depend on. 
  • The main action focus is to prevent plastic pollution and encourage solutions for a healthy ocean. The Ocean Project has promoted and coordinated World Oceans Day globally since 2002. 
It has been celebrated unofficially since its original proposal in 1992 by Canada's International Centre for Ocean Development (ICOD) and the Ocean Institute of Canada (OIC) at the Earth Summit – UN Conference on Environment and Development (UNCED) in Rio de Janeiro, Brazil.


Election commission launches its online RTI portal
Election Commission has launched it's online RTI Portal. The portal- rti.eci.nic.in will facilitate applicants seeking information under the Right to Information Act.
  • The portal also facilitates the online reply to applications and also for making first appeal and reply thereto.
The Election Commission was established in accordance with the Constitution on 25th January 1950.  Om Prakash Rawat is present Chief Election Commissioner of India. Ashok Lavasa and Sunil Arora are Election Commissioner of India.


Union cabinet approves for 30 PSLV and 10GSLV MK III rockets
In a big boost to the country’s space programme, the Union Cabinet has given the financial approval of Rs 10,911 crore for the launch of 30 PSLV and 10 GSLV Mk III rockets in the next four years.
  • PSLV has emerged as a versatile launch vehicle to carry out Sun-Synchronous Polar Orbit (SSPO), Geo-synchronous Transfer Orbit (GTO) and low inclination Low Earth Orbit (LEO) missions. It is the first Indian launch vehicle to be equipped with liquid stages.
  • With the recent successful launch of PSLV-C41, PSLV has completed three developmental and forty three operational flights and the last forty one flights have been successful.
  • GSLV Mk III is a three-stage heavy lift launch vehicle developed by ISRO. The vehicle has two solid strap-ons, a core liquid booster and a cryogenic upper stage.
  • GSLV Mk III is designed to carry 4 ton class of satellites into Geosynchronous Transfer Orbit (GTO) or about 10 tons to Low Earth Orbit (LEO), which is about twice the capability of GSLV Mk II.
  • This is India’s first fully functional rocket to be tested with a cryogenic engine that uses liquid propellants — liquid oxygen and liquid hydrogen.


World Bank approves Rs. 6,000 crore Atal Bhujal Yojana
World Bank has approved Atal Bhujal Yojana (ABHY). The scheme is to be implemented over a period of five years from 2018-19 to 2022-23, with World Bank assistance.
  • It is a Rs.6000 crore Central Sector Scheme of the Ministry of Water Resources, River Development and Ganga Rejuvenation.
  • The scheme aims to improve ground water management in priority areas in the country through community participation.
  • The priority areas identified under the scheme fall in the states of Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan and Uttar Pradesh. These States represent about 25% of the total number of over-exploited, critical and semi-critical blocks in terms of ground water in India.
The implementation of the scheme is expected to have several positive outcomes like better understanding of the ground water regime, focused and integrated community based approach for addressing issues related to ground water depletion, sustainable ground water management through convergence of on-going and new schemes, adoption of efficient water use practices to reduce ground water use for irrigation and augmentation of ground water resources in targeted areas.


Union cabinet approves Cooperation in the peaceful uses of outer space
Union Cabinet was recently apprised of a Memorandum of Understanding (MoU) signed between India represented by the Indian Space Research Organization (ISRO) and Oman represented by the Ministry of Transport and Communications on Cooperation in the peaceful uses of outer space, in February, 2018 at Muscat (Oman’s port capital).
  • This MoU shall enable the following areas of cooperation such as, space science, technology and applications including remote sensing of the earth; satellite based navigation; Space science and planetary exploration; use of spacecraft and space systems and ground system; and application of space technology.
Space exploration is governed by a complex series of international treaties and agreements which have been in place for years. The first and probably most important of them is the Outer Space Treaty.
The treaty was initially signed by the United States of America, the United Kingdom and the Soviet Union on January 27, 1967 and it came into effect from October 10, 1967. The treaty was initially called ‘Treaty on Principles Governing the Activities of States in the Exploration and Use of Outer Space, including the Moon and other Celestial bodies.


Centre constitutes group to suggest changes in SEZ policy
Centre has constituted a group of eminent persons headed by Bharat Forge’s Baba Kalyani to study the Special Economic Zones (SEZ) policy of the country and suggest measures to make it more relevant for exporters and compatible with World Trade Organisation (WTO) norms.
  • The SEZ Act was passed in 2005 giving tax incentives to investors, but investments in the zone were subsequently brought under the ambit of Minimum Alternate Tax and Dividend Distribution Tax leading to a dwindling in the flow of money into the SEZs.


Indian Railways and NCPCR jointly launched awareness campaign
Indian Railways and the National Commission for Protection of Child Rights (NCPCR) have jointly launched an awareness campaign on Protection of children in contact with Railways.
  • This is an endeavour to spread awareness about large number of vulnerable children coming in contact with Railways as passengers or abandoned, trafficked, run away children separated from their family.
The National Commission for Protection of Child Rights (NCPCR) was set up in March 2007 under the Commission for Protection of Child Rights Act, 2005.
It works under the administrative control of the Ministry of Women & Child Development. The Child is defined as a person in the 0 to 18 years age group.
The Commission’s Mandate is to ensure that all Laws, Policies, Programmes, and Administrative Mechanisms are in consonance with the Child Rights perspective as enshrined in the Constitution of India and also the UN Convention on the Rights of the Child.


EFC approved revised cost estimate of Dam rehabilitation & improvement project
Expenditure Finance Committee (EFC) has approved revised cost estimate of Dam Rehabilitation & Improvement Project (DRIP) for Rs. 3466 crore and has extended time period for conclusion till June, 2020.
  • The Ministry of Water Resources (MoWR), Government of India, with assistance from the World Bank, is implementing the DAM REHABILITATION AND IMPROVEMENT PROJECT (DRIP), which would be a six-year project.
  • The Central Dam Safety Organisation of Central Water Commission, assisted by a Consulting firm, is coordinating and supervising the Project implementation.
  • The project originally envisaged the rehabilitation and improvement of about 223 dams within four states namely, Kerala, Madhya Pradesh, Odisha, and Tamil Nadu and later Karnataka, Uttarakhand (UNVNL) and Jharkhand (DVC) joined DRIP and total number of dams covered under DRIP increased to 250.
  • The project will also promote new technologies and improve Institutional capacities for dam safety evaluation and implementation at the Central and State levels and in some identified premier academic and research institutes of the country.
  • The project development objectives of DRIP are: (i) to improve the safety and performance of selected existing dams and associated appurtenances in a sustainable manner, and (ii) to strengthen the dam safety institutional setup in participating states as well as at central level.
Central Water Commission is a premier Technical Organization of India in the field of Water Resources and is presently functioning as an attached office of the Ministry of Water Resources, River Development and Ganga Rejuvenation, Government of India.
DHARMA is a software programme – Dam Health and Rehabilitation Monitoring Application (DHARMA). DHARMA is a web tool to digitize all dam related data effectively. It will help to document authentic asset and health information pertaining to the large dams in the country, enabling appropriate actions to ensure need based rehabilitation. It is a new stride in asset management aspect by India.


President Declares ‘Queen Pineapple’ as State Fruit of Tripura
The President of India, Shri Ram Nath Kovind formally declared the “Queen Pineapple” as the state fruit of Tripura.
  • The declaration of state fruit would be made at a civic reception organised by the state government in honour of the President.
  • Queen pineapple is spiny, golden yellow in colour. It has pleasant aroma and flavour. Its sweetness and unique aroma differentiates it from pineapples of other states of Northeast region. It had received Geographical Indication (GI) tag in 2015


Andhra Pradesh is ODF now, declares CM Chandrababu Naidu
Andhra Pradesh Chief Minister N Chandrababu Naidu stated that the state was now Open Defecation Free (ODF) as it had achieved its goal of constructing 2.77 lakh individual toilets.
  • Naidu who was traveling through Chittoor district unveiled a plaque in Tirupati to honour the achievement. 
AP has completed the task of constructing toilets but they have to be used by every individual. For that, the administration has to take up some awareness programmes. In October 2016, all of Andhra Pradesh’s urban areas were declared as open defecation free on the occasion of MK Gandhi’s birth anniversary.


Punjab govt. launches business first portal
In a major step to give a big push towards the ease of doing business in Punjab, the state government has launched a "Business First Portal".
  • It was unveiled by Industry Minister Sunder Sham Arora in Jalandhar.
  • The online portal will facilitate the industrialists for Regulatory Clearances and Fiscal Approvals, real-time tracking of applications at the common platform. 


RBI decided to allow UCBs convert into Small finance banks
Reserve Bank of India has decided to allow urban co-operative banks (UCB) to convert into small finance banks (SFB), a move aimed at bringing these entities into mainstream banking. It has been decided to allow voluntary transition of UCBs meeting the prescribed criteria into SFBs.
  • UCBs currently face regulation by both the RBI and the respective State governments. By turning into SFBs, they will be regulated only by the RBI.
The small finance bank will primarily undertake basic banking activities of acceptance of deposits and lending to unserved and underserved sections including small business units, small and marginal farmers, micro and small industries and unorganised sector entities.
What they can do?
  • Take small deposits and disburse loans.
  • Distribute mutual funds, insurance products and other simple third-party financial products.
  • Lend 75% of their total adjusted net bank credit to priority sector.
  • Maximum loan size would be 10% of capital funds to single borrower, 15% to a group.
  • Minimum 50% of loans should be up to 25 lakhs.
What they cannot do?
  • Lend to big corporates and groups.
  • Cannot open branches with prior RBI approval for first five years.
  • Other financial activities of the promoter must not mingle with the bank.
  • It cannot set up subsidiaries to undertake non-banking financial services activities.
  • Cannot be a business correspondent of any bank.
The guidelines they need to follow:
  • Promoter must contribute minimum 40% equity capital and should be brought down to 30% in 10 years.
  • Minimum paid-up capital would be Rs 100 cr.
  • Capital adequacy ratio should be 15% of risk weighted assets, Tier-I should be 7.5%.
  • Foreign shareholding capped at 74% of paid capital, FPIs cannot hold more than 24%.
  • Priority sector lending requirement of 75% of total adjusted net bank credit.
  • 50% of loans must be up to Rs 25 lakh.


India records 22% reduction in Maternal mortality ratio since 2013
India has registered a significant decline in Maternal Mortality Ratio (MMR) recording a 22-percent reduction in such deaths since 2013.
  • According to the Sample Registration System bulletin, the MMR has declined from 167 in 2011-2013 to 130 in 2014-2016. 
  • According to Health Ministry, every day 30 more pregnant women are now being saved in India as compared to 2013.


FDI inflows to India fall by $4 billion last year: UN report
Foreign Direct Investment to India decreased to 40 billion dollars last year from 44 billion dollars in 2016 while outflows from India, the main source of investment in South Asia, more than doubled, according to a new trade report by the UN.
  • According to the World Investment Report, 2018 by the UN Conference on Trade and Development (UNCTAD) global foreign direct investment flows fell by 23 percent in 2017, to USD 1.43 trillion from USD 1.87 trillion in 2016. 
FDI is an investment made by a firm or individual in one country into business interests located in another country. UNCTAD is the main United Nations body dealing with trade, investment, and development issues. Headquarters of UNCTAD is in Geneva, Switzerland.


Global peace index 2018 released
Australia-based Institute for Economics and Peace (IEP), world’s leading think tank that develops metrics to analyse peace and quantify its economic value, has released the 12th edition of the Global Peace Index (GPI), or measure of global peacefulness.
  • India has moved up four places to the 137th rank among 163 countries. The improvement is due to a reduction in the level of violent crime driven by increased law enforcement. India was ranked 141 last year.
  • India was also among the countries with the biggest decreases in the number of deaths, along with Sri Lanka, Chad, Colombia, and Uganda.
  • Iceland remains the most peaceful country in the world, a position it has held since 2008. New Zealand, Austria, Portugal and Denmark also sit in the top five most peaceful rankings.
  • Syria remains the least peaceful country in the world, a position it has held for the past five years. Afghanistan, South Sudan, Iraq and Somalia comprise the remaining least peaceful countries.


15th QS World best Universities ranking released
The 15th edition of the QS World University Rankings has been released by global higher education analysts QS Quacquarelli Symonds. QS ranks the world’s top 1,000 universities, across 85 countries.
  • Globally, Massachusetts Institute of Technology remains the top university for the seventh consecutive year. Stanford University, Harvard University and California Institute of Technology (Caltech) all retain their positions at second, third and fourth in the world respectively.
  • From Asia, National University of Singapore (11) Nanyang Technological University, Singapore (12) and Tsinghua University, China (17) have been ranked the best.
  • IIT-Bombay is now the top institute in the country rising 17 positions from 2018 to 162. Indian Institute of Science (IISc) Bangalore, rises 20 places to 170th.
  • Indian Institute of Technology, Bombay (IIT-B), Indian Institute of Science (IISc), Bangalore, and Indian Institute of Technology, Delhi (IIT-D) are in the top 200.
The number of Indian universities in the top 1,000 increased from 20 to 24. 9 Indian institutions have been individually ranked in the top-500 as against 6 last year.
Being the only international ranking to have received International Ranking Expert Group (IREG) approval, the QS ranking is viewed as one of the three most-widely read university rankings in the world, along with Academic Ranking of World Universities and Times Higher Education World University Rankings.


Asia-Pacific regional conference on ECD held in Nepal
Asia-Pacific Regional Conference on Early Childhood Development (ECD) and Third Asia- Pacific Regional Policy Forum on Early Childhood Care and Education (ECCE) held in Kathmandu, Nepal.
  • It has been hosted by the Govt of Nepal (Ministry of Education, Science and Technology).


Omar Razzaz appointed new PM of Jordan
A Harvard-educated former senior World Bank official, Omar Razzaz has been appointed as the new Prime Minister of Jordan by King Abdullah II.
  • He succeeded Hani Mulki, who recently resigned as a result of widespread protests against his government’s austerity program.


Fernanda Espinosa elected President of 73rd UNGA
Ecuadorean foreign minister Maria Fernanda Espinosa elected President of the 73rd United Nations General Assembly (UNGA), a mainly ceremonial title that nonetheless carries a high profile and important procedural functions.
  • She is the 4th woman elected as UNGA president.
  • United Nations General Assembly is one of the six principal organs of the United Nations (UN), the only one in which all member nations have equal representation, and the main deliberative, policy-making and representative organ of the UN.


Biopic ‘Making of the Mahatma’ screened in Pietermaritzburg
The screening of the biopic ‘Making of the Mahatma’ in Pietermaritzburg on Jun 06 marked the opening of a three-day series of events to commemorate the historic incident 125 years ago when Mahatma Gandhi was evicted from a train because the compartment he was in was reserved for whites only.
  • The film is a co-production of India and South Africa and was made in 1996, soon after Nelson Mandela ascended to the position of South Africa’s first democratically-elected President.
  • The film was directed by Shyam Benegal based on the book ‘Apprenticeship of a Mahatma’ by late freedom activist Prof Fatima Meer.


Dhiraj Ram Krishna won the ‘National Gopal Ratna’ award
Dhiraj Ram Krishna won the ‘National Gopal Ratna’ award from the Central Govt for cattle rearing and dairying.
  • He received the award from the Union Minister of Agriculture and Farmers’ Welfare Radha Mohan Singh in New Delhi for ‘upkeep of the best dairy animals of indigenous breeds’.
In order to motivate farmers for rearing of indigenous breeds and increase population of indigenous breeds along with their production and productivity, “Gopal Ratna’ Awards: to Farmers maintaining the best herd of Indigenous Breed(s) and practicing best management practices have been instituted under the Rashtriya Gokul Mission.


Corporation Bank bags best expectation management (Mid Cap)’ award for 2017-18
Corporation Bank has bagged an award instituted by Investor Relations Society India.
  • The bank was chosen for ‘Investor Relations Awards 2018’ under the category ‘Best Expectation Management (Mid Cap)’ for 2017-18.
  • The Investor Relations Award has been recognising companies in investor relation space since 2012


Parliamentary standing committee on Finance to get Sansad Ratna Award
Parliamentary Standing Committee on Finance will be awarded the Sansad Ratna Award 2018 for its outstanding performance.
  • M. Veerappa Moily, Chairman of the Parliamentary Standing Committee on Finance will receive the award.
Sansad Ratna Award ("Gem of Parliament") is a private award established in 2010 by the Prime Point Foundation and e-magazine PreSense to honour "top performing" Members of the Indian Lok Sabha. The private-award is not conferred by the Government of India nor are its "recipients" recognized as such by the Government of India.


Mithali becomes first Indian to score 2000 T20I runs
Indian cricketer Mithali Raj has become the first batter from the country to score 2000 runs in T20I cricket.
  • She achieved the feat during India's Women's T20 Asia Cup match against Sri Lanka in Kuala Lumpur. Mithali has now scored 2015 runs in 74 T20Is with the help of 14 half-centuries.


Kohli to get cricketer of the year award at BCCI annual gala
India captain Virat Kohli's phenomenal batting form has fetched him the BCCI's best cricketer award for two seasons, while World Cup stars Harmanpreet Kaur and Smriti Mandhana were chosen for the women's equivalent of the honour, the Board announced.
  • Following his phenomenal show in the past two seasons, Team India captain Virat Kohli will be presented with the prestigious Polly Umrigar Award for the best international cricketer (2016-17 and 2017-18) at the BCCI Awards to be held in Bengaluru on 12th June 2018.

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