Current Affairs Update – 30 June, 2017

Hello and welcome to exampundit. Here are the Important Current Affairs of 30 June, 2017. These are important for the upcoming IBPS RRB OS-I, Office Assistant, IBPS PO, Dena Bank PGDBF, NABARD Grade A Recruitment Exam 2017.



Banking & Financial News

Asian Development Bank has pledged USD 10 billion for development projects in India


  • The Asian Development Bank (ADB) on 29 June 2017 committed USD 10 billion support for infrastructure building and immediate development needs of less-developed states in India.
  • The Manila-based multi-lateral funding agency also decided to increase the annual funding to the country by USD 1 billion to USD 4 billion. ADB expects India to grow by 7.4 percent in the current financial year and 7.6 percent in 2018-19.
  • Elaborating further, ADB’s President Takehiko Nakao said that the agency stands ready to meet immediate development needs of up to USD 5 billion over the five-year period for less developed states, including Uttar Pradesh, Bihar, Jharkhand, Odisha and Chhattisgarh.He also confirmed that with ADB assistance, strategic planning for economic corridors is rapidly progressing.
  • The funding agency is prepared to invest up to USD 5 billion during 2018-2022 for infrastructure building to develop the East Coast Economic Corridor. The main objective is to achieve high and inclusive economic growth.
  • Nakao praised progress by the government on attracting investments in manufacturing industries in the Corridor. He said that several reform measures introduced by the government for rationalising tax structure, boosting competitiveness and easing foreign direct investment norms in crucial sectors like infrastructure will boost growth.
  • He added that further reforms both at central and state levels for improving efficiency in the land and labour markets and strengthening the banking sector will also contribute to the economy.


YES Bank launches tailor-made programme to help MSMEs with GST


  • Private Sector Lender, Yes Bank, along with YES Global Institute has launched 'YES GST' program for MSMEs under its MSME CSR initiative, 'Say YES to Sustainable MSMEs in India'.
  • Through the program, the bank will help MSMEs understand the impact of the proposed changes and prepare them for migration to the new GST tax system. Yes Bank in line with its Responsible Banking ethos is committed to supporting the MSME sector and giving it the much needed thrust to put it on a sustainable growth path.
  • In addition to MSMEs, the campaign will also target Chartered Accountants who are an important stakeholder in the journey for the MSMEs, and Yes Bank employees, who will be made GST ready to support these MSMEs.
  • Yes Bank has initiated the programme on the back of findings of its nationwide survey with 100 MSMEs. The survey, among others showed that one in every two MSME owners is not aware of the impact of GST on their businesses and nine out of 10 MSME owners are not fully aware of the changes needed to comply with GST.





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DDA launches Housing Scheme 2017 with 13000 flats


  • The Delhi Development Authority's much-awaited new housing scheme that includes construction and delivery of around 13000 houses was launched on 30 June 2017.
  • The scheme has been linked with the Pradhanmantri Awas Yojna, which means that people fulfilling the criteria will get a subsidy in the interest when they take a bank loan.
  • Interested applicants can apply through both online and offline modes.
  • The first step involves collection of a brochure that costs between Rs 150- 200 from the DDA sales counter located at Vikas Sadan in New Delhi.
  • Brochures can also be collected from select branches of banks appointed by the DDA including Bank of Baroda, Yes Bank, Axis Bank, IDBI Bank, Kotak Mahindra, State Bank of India, Central Bank and HDFC.
  • The forms and brochures will be available at the select bank branches in Delhi from 30 June to 9 August.
  • Among the total number of flats, most of them in Rohini, Dwarka, Narela, Vasant Kunj and Jasola, 10000 unoccupied flats are from the 2014 housing scheme.


Indians' money in Swiss banks down to CHF 676 mn: Switzerlands central bank data

  • Amid the continuing clampdown on the suspected black money stashed behind the framed secrecy walls, a data published on 29 June 2017 says that money parked by Indians in the banks of Switzerland has nearly halved to 676 Swiss francs (about Rs 4500 crore) in 2016. The data was released by Switzerland’s central banking authority SNB (Swiss National Bank).
  • SNB published the figures for 2016 as part of its annual Banks in Switzerland Report.
  • In comparison, the data reveals that the total funds held by all foreign clients of Swiss Banks rose to CHF 1.42 trillion (about Rs 96 lakh crore) from CHF 1.41 trillion in 2015.
  • The data says that at the end of 2016, the total funds held by Indian directly with Swiss Banks stood at CHF 664.8 million, while the same held through fiduciaries was near $11 million.
  • During the year 2016, the total money of Indians fell by 45 per cent to CHF 675.75 million, marking the biggest ever yearly decline in such funds.
  • This included nearly CHF 377 million in form of customer deposits, about CHF 98 million owed to Indians through other banks and CHF 190 million in form of other ‘liabilities’
  • The SNB data showed that the figures fell sharply across all categories in 2016.
  • This is the lowest amount of funds held by Indians in the Swiss banks ever since the Alpine nation began making the data public in 1987 and marks the third straight year of decline.


News related India & States

Union Government launched National Biopharma Mission

  • The Cabinet Minister for Science and Technology, Earth Sciences, Environment, Forests and Climate Change, Harsh Vardhan, on 30 June 2017 launched a first ever Industry-Academia mission.
  • The National Biopharma Mission was launched to accelerate biopharmaceutical development in India.
  • Under the Mission, the government launched a programme named Innovate in India (i3) that will witness an investment of USD 250 million with USD 125 million as a loan from World Bank.
  • The i3 aims to create an enabling ecosystem to promote entrepreneurship and indigenous manufacturing in the sector.
  • The aim of the Mission is to enable and nurture an ecosystem for preparing India’s technological and product development capabilities in biopharmaceuticals to a level that will be globally competitive over the next decade.
  • It also looks forward to transform the health standards of India’s population through affordable product development.
  • The Mission will provide a holistic and integrated approach to strengthen and support the entire product development value chain for accelerating the research leads to product development. It will help not only in immediate product development addressing public health needs, but will also help to create an ecosystem which will facilitate development of a continuous pipeline of products.


NALSA launches web application for free legal services to prisoners

  • National Legal Services Authority (NALSA) on 29 June 2017 launched a web application for free legal services to prisoners and the Legal Services Management System. NALSA is entrusted with the responsibility to provide legal aid inter-alia to all persons in custody.
  • The web application was launched by Justice Dipak Misra, Judge at Supreme Court of India and Executive Chairman of NALSA.
  • Through this web application, the State Legal Services Authorities and District Legal Services Authorities can feed the data for each individual prison inmate in the jails within their jurisdiction, with regard to their being represented through a counsel in the court.
  • The software will be able to generate reports showing total number of inmates, number of inmates unrepresented, number of inmates represented by legal services lawyers and number of inmates represented by private lawyers.


PM Modi and world leaders to discuss counter-terrorism at G20 Summit


  • Leaders of the world’s 20 largest economies will be converging at the upcoming 12th G20 Summit on 7-8 July 2017 at Hamburg, a major port city in northern Germany. The topics that are expected to dominate the discussion include counter-terrorism and economic reforms.
  • The Indian delegation at the summit would be led by Prime Minister Narendra Modi. Some members of the delegation include NITI Aayog vice-chairman, India’s G20 Sherpa Arvind Panagariya and the Department Of Economic Affairs Secretary.
  • The theme of the summit this year is shaping an interconnected world and it has been mainly organised around three pillars- Stability, Sustainability and Responsibility. So besides terrorism, the platform is also expected to initiate discussions on issues such as free and open trade, environment, climate change, migration, sustainable development and global stability.


Appointments

Narendra Kumar Sinha assumes charge as Secretary in I&B Ministry

  • Narendra Kumar Sinha, a 1980-batch IAS officer from Bihar, took over as Secretary in the Ministry of Information & Broadcasting on 30 June 2017.
  • Sinha would be succeeding IAS officer Ajay Mittal who is getting a transfer. Prior to his appointment, Sinha was serving as the Secretary in the Ministry of Culture under Government of India.


Reports

NSSO releases report titled Key Indicators of Unincorporated Non-Agricultural Enterprises in India

  • The National Sample Survey Office (NSSO) under Union Ministry of Statistics and Programme Implementation on 29 June 2017 released the report titled 'Key Indicators of Unincorporated Non-Agricultural Enterprises (Excluding Construction) in India’.
  • The Report was released based on the information collected under 73rd round of its survey conducted during July 2015 to June 2016 as a follow-up survey of the 6th Economic Census. 
  • The survey was designed to generate various estimates on the operational and economic characteristics of the unincorporated non-agricultural enterprises in industry sectors of manufacturing, trading and other services such as type of enterprises, employment particulars, operating expenses, etc.
  • The survey covered non-agricultural enterprises which are not incorporated  or not registered under Companies Act, 1956.
  • The categories of enterprises under the coverage of survey included proprietary and partnership enterprises (excluding limited liability partnerships), Self Help Groups (SHGs), Non-Profit Institutions (NPIs) and Trusts etc.

Estimated number of Enterprises
  • During 2015-16, 6.34 crore unincorporated non-agricultural enterprises (excluding construction) were estimated at all India level.
  • Out of the total estimated number of enterprises at all India level, 31 per cent were engaged in manufacturing, 36.3 per cent were in trading and 32.6 per cent were in other services sector.
  • Out of the total number of unincorporated non-agricultural enterprises, about 51 per cent were located in rural areas and 49 per cent were located in urban areas.

Estimated number of Workers
  • The survey revealed that about 11.13 crore workers were engaged in unincorporated non-agricultural enterprises (excluding construction) in the country during 2015-16.
  • Out of the total number of workers, 34.8 per cent were engaged in trading, 32.8 per cent were in other services and 32.4 per cent were in manufacturing.
  • Among the total number of workers estimated, 55 per cent worked in urban areas and 45 per cent worked in rural areas.
  • OAEs accounted for 62 per cent of the workforce in unincorporated non-agricultural sector (excluding construction) in the country.


World News

Indian-origin boy Arnav Sharma gets 162 IQ points, more than Einstein and Hawking

  • Arnav Sharma, an 11-year-old Indian-origin boy in the United Kingdom, secured the top possible score of 162 on a Mensa IQ test.
  • Sharma secured two points higher than physicist Albert Einstein and astrophysicist Stephen Hawking, making him one of the brainiest children in the country.
  • The Indian-origin boy passed the infamously difficult test a few weeks back with zero preparation. In fact, he had never seen what a typical paper looked like before taking it.
  • Sharma’s score in the exam, which primarily measures verbal reasoning ability, puts him in the top one per cent of the nation in terms of IQ level.













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