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Friday, June 23, 2017

Current Affairs Update – 23 June, 2017


Hello and welcome to exampundit. Here are the important Current Affairs update of 23 June, 2017. These are important for the upcoming  SBI Clerk 2017, Dena Bank PGDBF, NICL AO Mains and other exams in 2017 July and August.




Current Affairs at a Glance - 23 June, 2017
  1. In an effort to help customers keep a better track of all their transactions, the Reserve Bank of India (RBI) has asked commercial banks to provide sufficient details of all transactions in the passbooks. The central bank said “It has come to our notice that many banks still do not provide adequate details of the transactions in the passbooks and/ or statements of account to enable the account holders to cross-check them”. To keep a check on the details provided by these banks, the RBI further has decided that banks shall provide a minimum amount of relevant details of account entries.
  2. The Union Cabinet chaired by the Prime Minister Narendra Modi on 22 June 2017 approved amendment of the bilateral Social Security Agreement (SSA) between India and the Netherlands by incorporating the 'Country of Residence' Principle into the SSA.
  3. The Department of Science and Technology (DST) under Ministry of Science and Technology on 22 June 2017 launched the Visiting Advanced Joint Research Faculty (VAJRA) scheme in a bid to bring together the Indian scientists abroad and India-based researchers for conducting joint researches in India.
  4. The Union government on 23 June 2017 announced another list of 30 cities for development as smart cities under Smart City Mission, taking the total tally of cities picked up so far to 90. A total investment of Rs. 57,393 Cr has been announced for the development project.  The list is topped by Thiruvananthapuram, the capital of Kerala, while Chhattisgarh's new capital Naya Raipur came second.
  5. Meira Kumar, former Lok Sabha speaker was chosen as the Congress-led Opposition’s presidential candidate against BJP-led NDA’s Ram Nath Kovind.
  6. Haryana was on 22 June 2017 declared as the 5th Open Defecation Free (ODF) state of India under the Swachh Bharat Mission Gramin (SBM-G). On the same day itself, Uttarakhand was decalred as the 4th state to be open defecation free.
  7. The National space agency, Indian Space Research Organisation (ISRO), on 23 June 2017 successfully launched India’s ‘Cartosat-2 Series’ satellite and 30 other co-passenger payloads
  8. Urban Development Secretary Rajiv Gauba was named as the next Union Home Secretary. He will succeed Rajiv Mehrishi, who will complete his term on 30 August 2017.
  9. The International Widows’ Day was observed globally on 23 June 2017. 






Banking & Financial News

RBI’s new directive on details of all transactions in the passbook


  • In an effort to help customers keep a better track of all their transactions, the Reserve Bank of India (RBI) has asked commercial banks to provide sufficient details of all transactions in the passbooks.
  • The central bank said “It has come to our notice that many banks still do not provide adequate details of the transactions in the passbooks and/ or statements of account to enable the account holders to cross-check them”. To keep a check on the details provided by these banks, the RBI further has decided that banks shall provide a minimum amount of relevant details of account entries.

These are the things one ought to know under RBI’s new directive:

  • The new directive mandates banks to provide information about ‘deposit insurance cover’ along with details of its coverage limit in the passbooks.
  • This is applicable to all commercial banks including branches of foreign banks that operate in India that are insured by the deposit insurance and credit guarantee corporation (DICGC).
  • DICGC protects bank deposits in the event of a failure. Each depositor is insured up to a maximum of Rs 1 lakh for both principal and interest amount held by him/her in the same capacity.
  • The details which bank passbooks should provide are as follows: Payment to third parties: i) Name of the payee (ii) Mode- Transfer, clearing, inter-branch, RTGS/ NEFT, cash, cheque (number) (iii) Name of the transferee bank, if the payment is made through clearing/ inter-branch transaction/ RTGS/ NEFT.
  • Payment to ‘self’: This should indicate “Self” as payee. The name of the ATM/ branch if the payment is made by ATM/ another branch
  • Reversal of wrong credits will require the date of the original credit entry reversed and reasons for reversal, in brief.
  • Cash deposit should be highlighted as a “cash deposit”. It would require the name of the depositor i.e. self or third party
  • Interest on deposits: (i) Mention if the interest is being paid on the Savings Account/ Fixed Deposit (ii) Mention the respective Fixed Deposit Account/ Receipt Number if it is interest paid on Fixed Deposit(s).
  • Bank charges: i) Mention the nature of the charges – fee/ commission/ fine/ penalty etc. (ii) Mention the reasons for the charges, in brief – e.g. return of cheque (number), commission/ fee on draft issued/ remittance (draft number), cheque collection charge (number), issuance of cheque book, SMS alerts, ATM fees, additional cash withdrawals, etc.
  • Receipt from third parties: (i) Name of the remitter/ transferor (ii) Mode-Transfer, inter-branch, RTGS/ NEFT, cash, etc. (iii) Name of the transferor bank, if the payment is received through inter-branch transaction, RTGS/ NEFT
  • Maturity proceeds of fixed deposit/ recurring deposit: i) Name of the Fixed Deposit/ Recurring Deposit holder (ii) Fixed Deposit/ Recurring Deposit account/ receipt number (iii) Date of maturity.

Union Cabinet approves amendment of Social Security Agreement between India and Netherlands


  • The Union Cabinet chaired by the Prime Minister Narendra Modi on 22 June 2017 approved amendment of the bilateral Social Security Agreement (SSA) between India and the Netherlands by incorporating the 'Country of Residence' Principle into the SSA.
  • The amended SSA between India and the Netherlands will strengthen the ties between the two countries, and will continue to favourably impact the profitability and competitive position of Indian and Dutch companies with foreign operations by reducing their cost of doing business abroad.
  • The SSA will also help promote more investment flows between the two countries.
  • The amendment in the SSA come following the introduction of new rules on export of social security benefits to countries outside the European Union by the Netherlands in January 2013.
  • Under the new Social Security (Country of Residence) Act, the amount of benefit or allowance paid to a qualified beneficiary (Dutch national) is adjusted to the cost of living of the country where the beneficiary is currently residing.
  • As per the new Dutch legislation, social security benefits when exported or remitted would be indexed to the cost of living of the host country where the Dutch citizen resides.



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News related to India and states

Union Government launches VAJRA scheme to attract Indian scientists abroad


  • The Department of Science and Technology (DST) under Ministry of Science and Technology on 22 June 2017 launched the Visiting Advanced Joint Research Faculty (VAJRA) scheme in a bid to bring together the Indian scientists abroad and India-based researchers for conducting joint researches in India.
  • The web portal of VAJRA was launched by Union Minister of Science and Technology Harsh Vardhan.
Highlights of the scheme

  • Under this scheme, scientists or senior researchers abroad of Indian origin can collaborate with faculties here in India.
  • Foreign researchers will receive endowments at par with those in their own countries.
  • The endowments for faculties would be USD 15000 in the first month of residency and USD 10000, for the remaining months.
  • The broad areas of research like energy, health, advance material and others will be promoted under the scheme.
  • The area of research under taken by the Faculty should be of interest to India including translation of science to practice. 
  • Faculty can also do teaching or mentoring during the period of stay in India. They could also act as mentors of start-ups housed at the Institution.
The motive behind the launching of VAJRA scheme is to bring the best of the world to India and conduct research here. It aims to convert brain-drain into brain-gain.

Govt announces another 30 cities under Smart City Mission


  • The Union government on 23 June 2017 announced another list of 30 cities for development as smart cities under Smart City Mission, taking the total tally of cities picked up so far to 90.
  • The announcement was made by Union Urban Development Minister M Venkaiah Naidu at a National Workshop on Urban Transformation, held in New Delhi. On the occasion, the minister stated that 45 cities contested for 40 available smart city slots but only 30 were selected.
  • A total investment of Rs. 57,393 Cr has been announced for the development project.
The cities that made it!

  • The list is topped by Thiruvananthapuram, the capital of Kerala, while Chhattisgarh's new capital Naya Raipur came second.
  • Rajkot in Gujarat came in the third spot.
  • The cities of Patna and Muzaffarpur in Bihar too have been selected in this list.
  • Both the capitals of Jammu & Kashmir - Jammu and Srinagar, also made it to the list.
  • Uttarakhand’s capital Dehradun made it to the list too this time round.

Congress-led opposition names Meira Kumar as presidential nominee


  • Meira Kumar, former Lok Sabha speaker was chosen as the Congress-led Opposition’s presidential candidate against BJP-led NDA’s Ram Nath Kovind.
  • The announcement was made by Congress President Sonia Gandhi on 22 June 2017. The decision was taken in a meeting of the opposition which was attended by leaders of 17 parties including Left leaders Sitaram Yechury and D. Raja, Nationalist Congress Party leader Sharad Pawar, DMK’s Kanimozhi and National Conference’s Omar Abdullah.
  • Speaking on the occasion, CPI(M) general secretary Sitaram Yechury said Kumar was the unanimous choice of all the 17 parties and that other parties would also be urged to support her.
  • Nitish Kumar’s JD(U), which had formally announced its decision to support BJP’s presidential nominee Ram Nath Kovind, skipped the meeting, while RLD chief Ajit Singh was present.

Haryana declared as 5th Open Defecation Free state


  • Haryana was on 22 June 2017 declared as the 5th Open Defecation Free (ODF) state of India under the Swachh Bharat Mission Gramin (SBM-G). On the same day itself, Uttarakhand was decalred as the 4th state to be open defecation free.
  • The declaration was made by Union Minister of Rural Development and Panchayati Raj Narendra Singh Tomar during a Swachh Bharat Programme organized in ONGC, Dehradun.
  • With this, Haryana and Uttarakhand join the league of Sikkim, Himachal Pradesh and Kerala, which were the first three states to be declared as Open Defecation Free.
  • Haryana has 21 districts, 124 blocks, and 6083 gram panchayats and all of them declared themselves as ODF in formal declarations in Chandigarh.

ISRO launches Cartosat-2 along with 30 nano-satellites from Sriharikota


  • The National space agency, Indian Space Research Organisation (ISRO), on 23 June 2017 successfully launched India’s ‘Cartosat-2 Series’ satellite and 30 other co-passenger payloads. The satellite and its co-passengers were launched by its highly reliable polar satellite launch vehicle PSLV C-38 from the Satish Dhawan Space Centre, Sriharikota at 9.29 am.
  • This was the 40th flight for PSLV, the satellite launch vehicle and the 17th flight of PSLV in XL configuration with the use of solid strap-on motors.
  • The PSLV C38 rocket carrying India’s Cartost-2 Series satellite along with its co-passenger was launched after a 28-hour countdown that started at 5.29 hours on 22 June 2017. To give enough thrust to carry them to a 505 km sun-synchronous orbit, the rocket was armed with solid strap-on motors.
  • The 30 nano-satellites include 29 belonging to foreign customers from 14 countries and one domestic payload of a private educational institution from Kanyakumari district.
  • The principal payload Cartosat-2 Series weighs 712 kg, whereas all the 30 nano-satellites together weigh 243 kg, taking the total weight to 955 kg. The international payloads were launched as part of the commercial arrangements made between Antrix Corporation Limited (Antrix), the commercial arm of ISRO and international customers.

Appointments

Rajiv Gauba to be next Union Home Secretary


  • The Appointments Committee of the Cabinet (ACC) on 21 June 2017 approved various appointments leading to the major top-level bureaucratic reshuffle. A total of 16 secretaries were appointed for various Union Government Departments.
  • Urban Development Secretary Rajiv Gauba was named as the next Union Home Secretary. He will succeed Rajiv Mehrishi, who will complete his term on 30 August 2017.
  • Gauba, a 1982 batch IAS officer of Jharkhand cadre, will take over as Officer on Special Duty (OSD) in the Union Home Ministry with immediate effect.
Other Appointments

  • Durga Shanker Mishra will replace Rajiv Gauba as the Urban Development Secretary. He is the Additional Secretary in the same ministry.
  • Culture Secretary N K Sinha will be the Information and Broadcasting Secretary in place of Ajay Mittal, who will now be the DoPT secretary.
  • Executive Director in World Bank Subhash C Garg will be the new Department of Economic Affairs Secretary.

Days

International Widows’ Day observed globally


  • The International Widows’ Day was observed globally on 23 June 2017. The day is an opportunity for action towards achieving full rights and recognition for widows, who have been living with an invisible status for too long invisible.
  • The lack of reliable data remains one of the main obstacles to developing the policies and programmes to address the poverty, violence and discrimination faced by widows.
  • Hence, there is a need for more research and statistics separated by marital status, sex and age, in order to help reveal the incidence of widow abuse and illustrate the situation of widows.













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