Current Affairs Update – 7th June, 2016

Hello and welcome to exampundit. Here are the important Current Affairs of 7th June, 2016. These are important for the upcoming SBI PO & SBI Clerk Mains 2016 Exams.


Current Affairs at a Glance – 7th June, 2016
  1. RBI today released the second bi-monthly monetary policy for the FY2016-17. Repo rate unchanged at 6.50 per cent, Reverse Repo at 6% and Cash reserve ratio or CRR unchanged at 4%.
  2. India and the Asian Development Bank (ADB) on Tuesday signed a $120 million loan pact to improve irrigation and water management infrastructure in Odisha.
  3. The Delhi Government on 6 June 2016 announced implementation of its solar policy. The policy aims at making the national capital a solar city with installation of 1 GW solar power capacity by 2020. This target is proposed to double it to 2 GW during further next five years.
  4. The abbreviation Swachh Yug was in news on 6 June 2016. The campaign, being a collaborative effort between the Swachh Bharat Mission, local youth leaders (युवा) and the Namami Gange project (गंगा) – is being called ‘Swachh यु-’, which translates into ‘the age of Swachh’.
  5. Minister of Railways Suresh Prabhakar Prabhu on 5 June 2016 flagged off the inaugural run of the Tiger Trail Circuit Train from Delhi Safdarjung Station.
  6. Chief Minister of Haryana Manohar Lal Khattar on 3 June 2016 laid foundation stone of Jai Jawan Awas Yojna (JJAY) at Bahadurgarh, Haryana.
  7. Social media giant Facebook has appointed Umang Bedi as its Managing Director for India
  8. Bollywood actress Dia Mirza was on 6 June 2016 named as the ambassador for Swachh Saathi (student internship) programme. It is a youth-based programme of Swachh Bharat Mission.
  9. Adobe on 6 June 2016 announced the appointment of Kulmeet Bawa as Managing Director (MD) for South Asia. He will begin his new role on 24 June 2016.
  10. N Ramachandran, the president of Indian Olympic Association (IOA) was awarded the prestigious Olympic Order by the International Olympic Committee (IOC) on 1 June 2016. He was honoured for his outstanding services to the Olympic movement.
  11. Deshauna Barber, a serving Army Reserve officer of United States (US), was on 5 June 2016 crowned as the Miss USA 2016 at the Miss USA competition 2016 held at the T-Mobile Arena off the Las Vegas Strip. With this, Barber became the first-ever military member to win Miss USA title.
  12. The city of Lucknow will host the junior men’s hockey World Cup from December 8 to 18, the International Hockey Federation (FIH) announced today.



Finance/Banking –

RBI’s second bi-monthly monetary policy 2016-17 highlights


  • RBI today released the second bi-monthly monetary policy for the FY2016-17.

Following are the highlights of RBI’s second bi-monthly monetary policy statement, 2016-17
  • Repo rate unchanged at 6.50 per cent, Reverse Repo at 6% 
  • Cash reserve ratio or CRR unchanged at 4%
  • Monetary policy to remain accommodative
  • Pegs growth forecast at 7.6% for the current fiscal
  • Inflation target kept unchanged at 5% for January 2017 with upward bias
  • Impact of firming crude oil prices, implementation of 7th Pay Commission recommendations need to be watched
  • Interest rate transmission critical for growth revival
  • Timely capital infusion in PSU banks to aid credit flow
  • Public investment gaining strength, continuing weakness in private investment is a concern.
  • To shortly review the implementation of the Marginal Cost Lending Rate framework by banks
  • Third bi-monthly monetary policy on August 9


India, ADB sign $120 million loan pact for irrigation in Odisha


  • India and the Asian Development Bank (ADB) on Tuesday signed a $120 million loan pact to improve irrigation and water management infrastructure in Odisha.
  • The soft loan is the second tranche of a $157.5 million financing facility under the Orissa Integrated Irrigated Agriculture and Water Management Investment Program.
  • The selected areas for the investment program are the Baitarani, Brahmani, Budhabalanga and Subernarekha river basins and parts of Mahanadi delta.
  • The second tranche loan from ADB's ordinary capital resources has a 20-year term. Odisha, acting through its Department of Water Resources, is responsible for implementing the second tranche activities and overall program, which are both due for completion by September 2018.


Delhi Government approves solar policy with 1 GW target by 2020


  • The Delhi Government on 6 June 2016 announced implementation of its solar policy.
  • The policy aims at making the national capital a solar city with installation of 1 GW solar power capacity by 2020. This target is proposed to double it to 2 GW during further next five years.
  • The policy has been prepared by the Delhi Government in consultation with the Dialogue and Development Commission after extensive consultations with local and international experts.

Key highlights of the policy include:
  • Mandatory deployment of solar panels on the government or public institutions.
  • Virtual net metering to give access to the solar net metering facility to the consumers who do not have a suitable roof for installing a solar system.
  • Group net metering to encourage solar plants on rooftops of buildings that cannot consume all of the energy generated locally.


India –

Swachh Yug campaign to make gram panchayats along Ganga open defecation free


  • The abbreviation Swachh Yug was in news on 6 June 2016. The campaign, being a collaborative effort between the Swachh Bharat Mission, local youth leaders (युवा) and the Namami Gange project (गंगा) - is being called ‘Swachh यु-’, which translates into ‘the age of Swachh’.

Features of Swachh Yug campaign
  • It is executed by the Ministry of Drinking Water and Sanitation, in partnership with Ministry of Youth Affairs and Sports, and Ministry of Water Resources, River Development and Ganga Rejuvenation.
  • Its objective is to make all villages along the banks of the Ganga Open Defecation Free (ODF) in 5 States of Uttarakhand, Uttar Pradesh, Bihar, Jharkhand and West Bengal.
  • There are 5169 villages along the river Ganga that fall under 1651 Gram Panchayats (GPs), 52 districts, and 5 States.
  • Youth agencies under the Union Ministry of Youth Affaris such as the Bharat Scouts and Guides, Nehru Yuva Kendras and National Service Scheme will be deployed for the campaign.


Suresh Prabhu launches Tiger Trail Circuit Train on World Environment Day


  • Minister of Railways Suresh Prabhakar Prabhu on 5 June 2016 flagged off the inaugural run of the Tiger Trail Circuit Train from Delhi Safdarjung Station.
  • The launch of this Tiger Express on World Environment Day is to highlight the significance of environment.
  • The most important objective of the train is to create and spread awareness about the wildlife in general and the tiger in particular.

Key highlights of the train
  • This tourist train will be operated by Indian Railway PSU namely Indian Railway Catering and Tourism Corporation (IRCTC).
  • It is one of the most innovative tourism products ever launched by Indian Railways.
  • This is for the first time that Indian Railways have forayed into the exciting and fascinating wildlife tourism.



Haryana Chief Minister Manohar Lal Khattar lays foundation stone for Jai Jawan Awas Yojna


  • Chief Minister of Haryana Manohar Lal Khattar on 3 June 2016 laid foundation stone of Jai Jawan Awas Yojna (JJAY) at Bahadurgarh, Haryana.
  • Jai Jawan Awas Yojna is an initiative to provide affordable housing to serving and retired JCOs and Other Ranks.

Key highlights of the project
  • The project is being executed by Army Welfare Housing Organization.
  • It aims to provide low cost housing.
  • This housing project has been named in the memory of Late Major Rajiv Joon, recipient of Ashok Chakra and Shaurya Chakra. Major Joon had attained martyrdom fighting militants in Anantnag district of Jammu & Kashmir.
  • The residential project at Bahadurgarh will be pitched at a very low cost for the benefit of JCOs and Other Ranks.


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Appointments –

Umang Bedi to take over as Facebook India MD


  • Social media giant Facebook has appointed Umang Bedi as its Managing Director for India. He will take over from Kirthiga Reddy, who will be returning to the U.S. to take on a new role at the company’s Menlo Park headquarters.
  • Mr. Bedi has close to two decades of leadership experience covering sales, marketing and partnerships with multinational companies.
  • Prior to joining Facebook, he was Managing Director (South Asia) at Adobe. He was responsible for making India one of Adobe’s leading markets.


Dia Mirza named Ambassador for Swachh Saathi programme


  • Bollywood actress Dia Mirza was on 6 June 2016 named as the ambassador for Swachh Saathi (student internship) programme. It is a youth-based programme of Swachh Bharat Mission.
  • Dia was selected because she is a youth icon and has been an active campaigner for Swachh Bharat. She would help the programme to reach out to more youngsters as it was aimed to make it a viral youth led movement.
  • As the ambassador, the actress would interact with school and college students from across the country through awareness sessions, community cleaning activities and motivational videos.
  • Swachh Saathi Programme
  • Under this Programme, more than 2000 interns would be enrolled to coordinate around 10000 schools across India.
  • They will also ensure that all students in the schools take the pledge for Clean India.


Kulmeet Bawa appointed Adobe MD for South Asia


  • Adobe on 6 June 2016 announced the appointment of Kulmeet Bawa as Managing Director (MD) for South Asia. He will begin his new role on 24 June 2016.
  • Bawa will take over the position from Umang Bedi, who is leaving the company after five years of service.
  • Bawa will report to Paul Robson, President of Adobe Asia Pacific. Bawa will lead Adobe's customer-facing engagements in India.
  • Bawa currently serves as the Head of Sales for Adobe in India.


Awards & Honors –

IOC honours IOA chief N Ramachandran with Olympic Order


  • N Ramachandran, the president of Indian Olympic Association (IOA) was awarded the prestigious Olympic Order by the International Olympic Committee (IOC) on 1 June 2016. He was honoured for his outstanding services to the Olympic movement.
  • Earlier to him, former IOA president, the late BS Adityan was the other Indian to be honoured with the same award in 1995.


US Army Reserve officer Deshauna Barber crowned as Miss USA 2016


  • Deshauna Barber, a serving Army Reserve officer of United States (US), was on 5 June 2016 crowned as the Miss USA 2016 at the Miss USA competition 2016 held at the T-Mobile Arena off the Las Vegas Strip.
  • She represented the US capital as Miss District of Columbia. Miss Hawaii Chelsea Hardin came in as the first runner-up and Miss Georgia Emanii Davis was the second runner-up.
  • With this, Barber became the first-ever military member to win Miss USA title. She will now represent the USA at Miss Universe Competition 2016.
  • Barber inherited the crown from 2015 winner Miss Oklahoma Olivia Jordan.


Sports –

India to host Junior hockey World Cup 2016


  • The city of Lucknow will host the junior men’s hockey World Cup from December 8 to 18, the International Hockey Federation (FIH) announced today.
  • The event will feature 16 teams — defending champions Germany, Argentina, Australia, Austria, Belgium, Canada, Egypt, England, Germany, India, Japan, Korea, Netherlands, South Africa, New Zealand, Pakistan and Spain.
  • While the men’s competition takes place in December, the women’s Hockey Junior World Cup takes place shortly beforehand in Santiago, Chile between 24 November and 4 December.
  • India will not be part of that event.


Leander Paes, Martina Hingis won 2016 French Open Mixed Doubles tennis title


  • India’s ace tennis player Leander Paes and Martina Hingis of Switzerland on 3 June 2016 won the French Open Mixed Doubles title.
  • To win the title, the duo defeated the Indo-Croatian pair Sania Mirza and Ivan Dodig 4-6 6-4 10-8.
  • With this win, Paes completed a Career Slam in mixed doubles with Martina Hingis. Earlier, he won Australian Open, Wimbledon and the US Open titles in 2015 with Hingis.
  • Overall, it was the 18th Grand Slam title for Paes and 10th in the mixed doubles category. So far, he won 8 Grand Slam titles in the doubles category that include Australian Open (2012), French Open (1999, 2001 and 2009), Wimbledon (1999) and the US Open (2006, 2009 and 2013).







Regards



Team ExamPundit

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