Current Affairs Update – 11-12 June, 2017


Hello and welcome to exampundit. Here are the important Current Affairs update of 11-12 June, 2017. These are important for the upcoming  RBI Grade B Phase I, Dena Bank PGDBF, NICL AO Mains and other exams in 2017 July and August.





Current Affairs at a Glance - 11-12 June, 2017
  1. The Indian Railways is all set to induct about 40000 revamped coaches at an estimated cost of Rs 8,000 Cr to provide world-class comfort to passengers. The total estimated cost of retrofitting would be about Rs 30 lakh per coach.
  2. The GST Council on 9 June 2017 constituted 18 Sectoral Groups representing various sectors of the economy to ensure smooth implementation of GST by timely responding to the issues and problems of the respective Sector.
  3. Commerce Secretary Rita Teaotia, while addressing the 22nd APEDA Export award function in New Delhi on 12 June 2017, said that India has emerged as the 7th largest exporter of agri-products globally.
  4. The GST Council on 11 June 2017 reduced the GST Rates of 66 items including insulin, pickles, printers, agarbattis, school bags, and cashew nuts. However, the GST rates for telecom services, marbles, granite and spectacles were retained. The GST Council, headed by Union Finance Minister Arun Jaitley, went beyond the equalisation principle of maintaining the current tax incidence in certain cases.
  5. Maharashtra Chief Minister Devendra Fadnavis on 10 June 2017 announced the formation of a six-member high powered committee. The constituted committee will look into various demands of farmers, including a loan waiver. Reports suggest that the panel will be headed by senior BJP minister Chandrakant Patil.
  6. The Maharashtra government on 11 June 2017 announced a loan waiver for farmers. He also decided to form a committee to decide the criteria for debt relief, after which cultivators called off their protests.
  7. To provide legal aid for the people living in rural areas, the Union Government on 11 June 2017 launched 'Tele Law' service. Under the service, the legal aid will be provided through video conferencing to marginalised communities of rural areas.
  8. Calcutta High Court Judge C S Karnan, who was sentenced six months of imprisonment by Supreme Court, retired on 12 June 2017 at the age of 62, the retirement age for a High Court judge.
  9. Theresa May on 11 June 2017 appointed her close ally Damian Green as her first secretary of state, effectively her deputy prime minister.
  10. The World Day against Child Labour was observed globally on 12 June 2017 with the theme In conflicts and disasters, protect children from child labour.
  11. Rafael Nadal on 11 June 2017 set a record winning his 10th French Open title. No other player has ever won 10 championships at the same event. Nadal defeated Stan Wawrinka to grab the historic win.
  12. Jelena Ostapenko on 10 June 2017 grabbed her first ever grand slam title by beating the match favourite, third-seeded Simona Halep in the final of French Open 2017.
  13. England on 11 June 2017 lifted the FIFA U-20 World Cup for the first time ever. England defeated Venezuela 1-0 in the summit clash held in Suwon, South Korea.
  14. Renowned poet and essayist Haraprasad Das on 11 June 2017 was conferred with the prestigious Kalinga Literary Award.






Banking & Financial News


Railways to Induct 40000 Refurbished Coaches for Rs 8000 Cr

  • The Indian Railways is all set to induct about 40000 revamped coaches at an estimated cost of Rs 8,000 Cr to provide world-class comfort to passengers.
  • The new coaches will reportedly come with improved interiors and upgraded facilities. The coaches will be retrofitted with refurbished interiors, improved seating arrangement and newly designed bio-toilets among other facilities.
  • The total estimated cost of retrofitting would be about Rs 30 lakh per coach.
  • The target is to complete the process of refurbishing of coaches with improved interiors and modern facilities in the next five years.
  • The aim is to make 40,000 revamped coaches available in the railway fleet by 2023.
  • The work plan includes completion of refurbishing work in at least 1000 coaches in the current fiscal year.
  • The number is expected to increase to 3000 coaches in the next fiscal and 5500 coaches in subsequent years.
  • Railways is also expected to manufacture 15000 new coaches with modern features between 2018-19 and 2022-23 periods.

GST Council constitutes 18 Sectoral Groups for smooth implementation of GST

  • The GST Council on 9 June 2017 constituted 18 Sectoral Groups representing various sectors of the economy to ensure smooth implementation of GST by timely responding to the issues and problems of the respective Sector.
  • These 18 Sectoral Groups represent various sectors of the economy and contain Senior Officers of the Union and State Governments.
Terms of Reference of these 18 Sectoral Groups

  • To interact and examine representations received from trade and industry associations of their respective sector.
  • To highlight specific issues for the smooth transition of the respective sector to the GST regime.
  • To prepare sector specific draft guidance.

India emerges as 7th largest exporter of agri-products globally: Commerce Secretary

  • Commerce Secretary Rita Teaotia, while addressing the 22nd APEDA Export award function in New Delhi on 12 June 2017, said that India has emerged as the 7th largest exporter of agri-products globally.
  • Teaotia stated that there is a significant increase in the exports of food products from the country and it represents more than 12 percent of total exports.  She noted that the total merchandise exports during 2016-2017 are more than 276 billion dollars out of which agricultural exports comprised nearly 33 billion dollars. She said that Indian food products are majorly exported to countries such as Vietnam, UAE, Saudi Arabia, USA, Iran, Iraq and Nepal.
  • Further, Teaotia gave the credit of the growth to exporters who even in times of economic slowdown have continued to grow and added that opportunities in newer markets have to be searched for further growth.
  • The awards function witnessed the presentation of 82 APEDA awards for the year 2014-2015 and 2015-2016. It included 2 Diamond Trophies, 33 Gold, 29 Silver and 18 Bronze awards.

GST Council reduces GST Rates of 66 items

  • The GST Council on 11 June 2017 reduced the GST Rates of 66 items including insulin, pickles, printers, agarbattis, school bags, and cashew nuts.
  • However, the GST rates for telecom services, marbles, granite and spectacles were retained. The GST Council, headed by Union Finance Minister Arun Jaitley, went beyond the equalisation principle of maintaining the current tax incidence in certain cases.
  • All goods and services, under the GST regime, are broadly placed in five tax slabs — 0, 5, 12, 18, and 28 per cent.
Revised GST Rates of few Goods and Services

  • The GST Rates on insulin, cashew nuts and agarbattis were lowered to 5 per cent from 12 per cent proposed earlier.
  • The GST Rates of school bags and computer printers will now be 18 per cent rate against 28 per cent decided earlier.
  • The rate of children's exercise books was fixed to Nil from 12 per cent proposed earlier.
  • The GST rate for movie tickets under Rs 100 was reduced to 18 per cent, while tickets priced above Rs 100 will be taxed at 28 per cent.
  • Kitchen use items like pickles, mustard sauce, and morabba will attract 12 per cent GST as against 18 per cent proposed earlier.
  • Packaged food items like ketchup, toppings, instant food mixes will be charged 12 per cent GST now.
  • Cutlery, tractors and CCTV cameras will cost less now as their tax is now fixed at 12 per cent.



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Fadnavis announces formation of committee to look into farmers demands

  • Maharashtra Chief Minister Devendra Fadnavis on 10 June 2017 announced the formation of a six-member high powered committee. The constituted committee will look into various demands of farmers, including a loan waiver.
  • The panel was asked to submit its report to the state government after holding discussions with farmers' leaders. The committee will hold discussions with farmers' leaders and submit a proposal to the state government.
  • Reports suggest that the panel will be headed by senior BJP minister Chandrakant Patil.
  • The panel also comprises of senior Shiv Sena minister Diwakar Raote, Agriculture Minister Pandurang Fundkar, Finance Minister Sudhir Mungantiwar, Cooperation Minister Subhash Deshmukh and Water Resources Minister Girish Mahajan.

Maharashtra announces blanket loan waiver; farmers call of protest

  • The Maharashtra government on 11 June 2017 announced a loan waiver for farmers. He also decided to form a committee to decide the criteria for debt relief, after which cultivators called off their protests.
  • The decision was taken after a meeting between the panel of ministers and the representatives of farmers. The move is expected to benefit 1.07 crore farmers in the state, who have land holdings of less than five acres.
  • The decision was announced via tweeter by Chief Minister Devendra Fadnavis. The Chief Minister in his tweeter message said that the state government had agreed to the loan waiver for farmers. In his tweet, he also added that conditions and details will be finalised by a joint committee.
  • The loans of the small and marginal farmers were waived with immediate effect.
  • The decision was made that the benefits of the waiver will be provided only to those farmers who are dependent only on farm produce
  • The benefits of the loan waiver will not apply for political leaders, businessman and salaried person. On the real farmers will be benefitted from the scheme of waiving the farm loans.
  • A separate committee will be formed to fix criteria based on which further waiver will be sanctioned. 
  • Besides, the ministers’ group has decided to restart fresh loan disbursal to farmers from 12 June 2017.

News related to India and States


Government launches Tele Law to provide legal aid in rural areas via video conferencing

  • To provide legal aid for the people living in rural areas, the Union Government on 11 June 2017 launched 'Tele Law' service. Under the service, the legal aid will be provided through video conferencing to marginalised communities of rural areas.
  • The service was launched by IT Minister Ravi Shankar Prasad. After launching the service, Prasad said, the legal aid through Tele-Law will fulfil the government's commitment to ensuring access to justice and empowerment of the poor.
  • The Ministry of Law and Justice partnered with the Ministry of Electronics and Information Technology (MeitY) will provide legal aid services through its Common Service Centres (CSC) at the panchayat level, spread across the country.

Justice CS karnan becomes first High Court Judge to retire while absconding

  • Calcutta High Court Judge C S Karnan, who was sentenced six months of imprisonment by Supreme Court, retired on 12 June 2017 at the age of 62, the retirement age for a High Court judge.
  • Justice Karnan has been absconding from the office of Calcutta HC judge since May 2017 to escape arrest after the Supreme Court sentenced him to six months imprisonment for contempt of court and ordered his immediate arrest.
  • Karnan was not present at the Calcutta High Court on the day of his retirement as he is banned from performing his judicial duties since February 2017.

Appointments

Theresa May unveils new Cabinet, appoints Damian Green as ‘deputy'

  • Theresa May on 11 June 2017 appointed her close ally Damian Green as her first secretary of state, effectively her deputy prime minister.
  • The cabinet reshuffle follows the shock results of UK general elections 2017, which saw Conservatives lose their majority status, forcing May to form a minority government.
  • In a surprising move, May has brought back former Justice Secretary Michael Gove whom she ousted in 2016, as the new Environment Secretary.
  • She has also shifted former department secretary, Andrea Leadsom to the post of leader of the House of Commons.
  • James Brokenshire has been appointed as the Northern Ireland minister and Karen Bradley as the new Minister of Culture, media and sports.
  • Senior-most Indian-origin Cabinet minister, Priti Patel will retain her position as the secretary of state for International development, a department that will be closely involved in the Brexit process.


Days

World Day against Child Labour 2017 observed

  • The World Day against Child Labour was observed globally on 12 June 2017 with the theme In conflicts and disasters, protect children from child labour.
  • The 2017 World Day against Child Labour focuses on the impact of conflicts and disasters on child labour.
  • As per the United Nations, over 1.5 billion people, globally, live in countries that are affected by conflict, violence and fragility. At the same time, around 200 million people are affected by disasters every year. A third of them are children. A significant proportion of the 168 million children engaged in child labour live in areas affected by conflict and disaster.


Sports News

Rafael Nadal wins 10th French Open Men’s Singles title

  • Rafael Nadal on 11 June 2017 set a record winning his 10th French Open title. No other player has ever won 10 championships at the same event.
  • Nadal defeated Stan Wawrinka to grab the historic win.
  • Novak Djokovic was the defending champion in the Men's Singles, but he lost in the quarter-finals to Dominic Thiem.
  • It is for the first time in French Open history that both reigning champions of the Australian Open (Serena Williams and Roger Federer) withdrew before the tournament began.

Jelena Ostapenko wins 10th French Open Women’s Singles title

  • Jelena Ostapenko on 10 June 2017 grabbed her first ever grand slam title by beating the match favourite, third-seeded Simona Halep in the final of French Open 2017.
  • Ostapenko, after losing the first set 4-6, made a stunning comeback with two straight wins 6-4 and 6-3, making way for one of the biggest Grand Slam upsets. With the win, she became the first Latvian to ever win a Grand Slam singles title.
  • Ostapenko rallied up to the finals beating world no. 9 Timea Bacsinszky in the semi-final, former world no. 1 Caroline Wozniacki in the quarter-final and Olympic champion Monica Puig and former finalist Sam Stosur in the qualifying rounds.

England beat Venezuela to win FIFA U-20 World Cup for first time

  • England on 11 June 2017 lifted the FIFA U-20 World Cup for the first time ever.
  • England defeated Venezuela 1-0 in the summit clash held in Suwon, South Korea.
  • The only goal of the match, played at the Suwon World Cup Stadium here, carried the signature of Everton striker Dominic Calvert-Lewin 34 minutes in the game.
  • Serbia, the 2015 champions, were not able to defend their title as they failed to reach the final round of the UEFA qualifying tournament. In doing so, they became the fifth consecutive incumbent title holder to fail to qualify for the subsequent tournament.

Bethanie Mattek-Sands and Lucie Safarova win 2017 French Open Women's Doubles title

  • Top seeds Bethanie Mattek-Sands and Lucie Safarova on 11 June 2017 won the Women's Doubles title in the French Open tennis championships.
  • The United States-Czech pair defeated unseeded Australians Ashleigh Barty and Casey Dellacqua 6-2, 6-1 in the final to grab the title.


Awards & Honors

Poet Haraprasad Das conferred with Kalinga Literary Award

  • Renowned poet and essayist Haraprasad Das on 11 June 2017 was conferred with the prestigious Kalinga Literary Award.
  • Das has been chosen for the award for his work and contribution to literature at the fourth edition of Kalinga Literary Festival.
  • This year, the Kalinga Literary Festival also introduced two new awards: the Kalinga International Literary Award and the Kalinga Karubaki Award.
  • Anand Neelakantan was honoured with the Kalinga International Literary Award for his contribution towards literature, while Paramita Satpathy was chosen for the Kalinga Karubaki Award for her contribution to Odia poetry.
  • The three-day literary festival was inaugurated by Union Minister Dharmendra Pradhan, eminent poet and Padma Vibhusan awardee Sitakant Mahapatra and renowned poet Ramakanta Rath. The festival focuses on literature for peace and harmony.


Obituaries

Veteran Telugu poet, writer C Narayana Reddy passes away

  • Noted Telugu and Urdu poet and writer C Narayana Reddy passed away on 12 June 2017 in Hyderabad. He was rushed to a private hospital in the early hours of morning following health complications and was pronounced dead. He was 85.
  • Reddy is known to have written more than 80 publications that include poems, songs, lyrical dramas, ballets, essays, travelogues, ghazals -both original and in translation and literary criticism. He is survived by four daughters.
  • He was also awarded an honorary Kala Prapoorna by Andhra University in 1978.
  • He was conferred with the Raja-Lakshmi Award by the Sri Raja-Lakshmi Foundation in 1988.
  • He was also nominated to the upper house of the Indian Parliament- Rajya Sabha- in August 1997.







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