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Current Affairs Today April 5 2018

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 INDIAN AFFAIRS

Cabinet Approvals on April 5,2018
On April 4, 2018, Union Cabinet chaired by Prime Minister Narendra Modi approved following initiatives:
i. Cabinet approves closure of loss making Burn Standard Company Limited – a Central Public Sector Enterprise (CPSE)
ii. Union Cabinet has approved rightsizing the Competition Commission of India (CCI) from One Chairperson and Six Members (totalling seven) to One Chairperson and Three Members (totalling four).
iii. Union Cabinet has given its approval to the Protection of Human Rights (Amendments) Bill, 2018 aimed at strengthening the Human Rights Institutions of India and bringing the protection of human rights law in India in perfect sync with the agreed global standards.
iv. Cabinet Committee on Economic Affairs has approved the Revised Cost Estimates (RCE) of the scheme of Updation of National Register of Citizens (NRC), 1951 in Assam at a cost of Rs. 1220.93 crore up to December 31, 2018………………………………………………………. Click here to Read More

Cabinet Approvals with Foreign Countries on April 5,2018
i. Cabinet apprised of MoU between India and United Arab Emirates on Technical Cooperation in Rail Sector
ii. Cabinet apprised of MoU between India and Canada to foster cross-border partnerships focused on research excellence and industry-academic collaboration
iii. Cabinet approves a Cooperation Arrangement between India and Afghanistan for cooperation in the field of food safety and related areas
iv. Union Cabinet has given its ex post facto approval to MoU between India and Iran on the establishment of an expert group on trade remedy measures ……………………………………………… Click here to Read More

Global Logistics Summit held in New Delhi
On 5th and 6th April 2018, Global Logistics Summit was held in New Delhi.
Global Logistics Summit held in New DelhiGlobal Logistics Summit:
i. The Global Logistics Summit was organised by the Department of Commerce, Ministry of Commerce & Industry, along with FICCI (Federation of Indian Chambers of Commerce & Industry) and the World Bank Group.
ii. The Summit acts as a platform to hold discussions for global experts, academics, government officials and private sector and industry representatives.
iii. Union Minister for Commerce & Industry and Civil Aviation, Suresh Prabhu said that 56 new airports will be ready for operation in the next few years.
About World Bank Group:
♦ President – Jim Yong Kim
♦ Headquarters – Washington, DC

Suresh Prabhu inaugurates Delhi-Pathankot flight under UDAN scheme
On April 5, 2018, Union Civil Aviation Minister Suresh Prabhu inaugurated first flight from Delhi to Pathankot (in Punjab), at a ceremony held at the Indira Gandhi International Airport in Delhi.
Suresh Prabhu inaugurates Delhi-Pathankot flight under UDAN scheme More information about Delhi-Pathankot flight under UDAN scheme:
i. Pathankot airport has been opened by the Airports Authority of India (AAI) to improve regional connectivity as per the UDAN (‘Ude Desh ka Aam Nagrik’) Scheme.
ii. It is the 21st airport in India, which has become operational for passengers.
iii. Civil Aviation Ministry launched Regional Connectivity Scheme ‘UDAN’ (‘Ude Desh ka Aam Nagrik’) in October 2016.
iv. It aims at making flying a reality for common people residing in Tier-II and Tier-III towns by providing air connectivity to currently underserved and unserved airports.
v. This scheme is implemented by Airports Authority of India (AAI).

FIEO, PayPal ink MoU to empower Indian SMEs to sell globally
On April 5, 2018, digital payments company PayPal and the Federation of Indian Export Organisations (FIEO) signed a Memorandum of Understanding (MoU) for promotion of outbound shipments among small and medium enterprises (SMEs).
Details about FIEO-Pay Pal MoU:
i. As per the terms of the MoU, PayPal will work with FIEO to educate SMEs on how to leverage global opportunities, help them receive money in a safe and timely manner with PayPal products and inform them of global best practices.
ii. The programmes and seminars undertaken for this purpose will not only create awareness but will also address some commonly faced challenges by SMEs.
iii. Through activities carried out under the scope of this MoU, FIEO will be able to reach out to cottage industries, MSMEs, artisans and clusters, even in distant areas to develop their orientation towards exports.
iv. It has been observed that despite of global opportunities, Indian SMEs focus on domestic market owing to risks and complex procedures associated with operating in global marketplace.
Quick Facts about FIEO:
♦ Set up in – 1965
♦ Set up by – Union Ministry of Commerce
♦ Significance – Has over 25000 members, who contribute more than 70 per cent of India’s exports

President of India addresses 34th Annual session of FICCI Ladies Organisation
On 5th April 2018, President Ram Nath Kovind addressed the 34th annual session of FICCI Ladies Organisation (FLO) in New Delhi.
President addressed 34th annual session of FICCI Ladies Organisation (FLO):
i. At the Annual session 10 Indian Women Achievers were presented the FLO ICON AWARDS.
ii. The award winners are:

  • Banking & Finance – Ms Chanda Kochhar, MD & CEO, ICICI Bank
  • Health & Wellness – Dr Aarti Vij, Chief of AIIMS’ Organ Retrieval and Banking Organization (ORBO)
  • Media Entrepreneurship – Ms Ekta Kapoor, Joint Managing Director and Creative Director of Balaji Telefilms
  • Conscientious Cinema – Ms Twinkle Khanna, Entrepreneur, Author, Film Producer
  • Digital Entrepreneurship – Ms Falguni Nayar, Founder & CEO, NYKAA
  • Science & Technology – Dr Tessy Thomas, Director, Advanced Systems Laboratory (ASL), Defence Research and Development Organization (DRDO)
  • Promoting Literature  – Ms Namita Gokhale, Author and Director of Jaipur Literature Festival
  • Environmental Protection – Ms Bharati Chaturvedi, Founder of CHINTAN, Environmentalist and writer
  • Commando Training – Dr Seema Rao, Commando Trainer, certified Doctor and MBA in crisis management
  • Grassroots Mobilization – Ms Kamal Kumbhar, Social entrepreneur & Founder of Ekta Producer Company

iii. Pinky Reddy took charge as New President of FLO at the annual session.
About FICCI (Federation of Indian Chambers of Commerce & Industry):
♦ President – Rashesh Shah
♦ Headquarters – New Delhi

Uttarakhand CM launches drive to transform public schools
On 4th April 2018, Uttarakhand Chief Minister Trivendra Singh Rawat launched a transformation campaign to improve the standard of education in the government schools of Uttarakhand.
Uttarakhand CM launches drive to transform public schools:
i. The main purpose of this campaign is to start smart classes in government schools and provide them with all basic facilities required by students like safe buildings, clean drinking water, furniture, fans, heaters, sports material and computers.
ii. Trivendra Singh Rawat said that one model school will be opened in Kumaon and another in Garhwal region to offer quality education to the poor and underprivileged children in classes 6 to 12.
iii. In Kumaon circle the model school will be opened in Almora. He asked the district administration to send a proposal about this to Uttarakhand state government after land is selected for the school.
Some national parks of Uttarakhand:
♦ Rajaji National Park
♦ Nanda Devi National Park
♦ Gangotri National Park

IndiaFilings launches online income tax filing services
IndiaFilings.com has launched online income tax filing services for salaried individuals.
IndiaFilings launches online income tax filing servicesIndiaFilings launches online income tax filing services:
i. IndiaFilings’ online income tax filing service will help individuals and businesses file their income tax return using their platform.
ii. All income tax returns like ITR-1, ITR-2, ITR-3, ITR-4, ITR-5, ITR-6 and ITR-7 can be filed online using their platform directly.
iii. In order to prevent errors made by users while filing tax returns, intelligence and in-built algorithms have been incorporated in the platform.
iv. Apart from this self-serve platform, IndiaFilings also offers assisted tax return filing services for all class of taxpayers beginning from Rs.488.
v. The assisted tax return filing service provides a dedicated tax advisor. The tax advisor will advise on tax savings, tax computation and tax filing.
About IndiaFilings.com:
♦ Established – 2013
♦ Head – Lionel Charles

Union minister Hardeep Singh Puri launched the modernisation of the Government Press
On 5th April 2018, Minister of State (Independent Charge) for Housing and Urban Affairs Hardeep Singh Puri launched the modernisation of the Government Press.
Union minister Hardeep Singh Puri launched the modernisation of the Government PressModernisation of the Government Press:
i. The Government Press serves both the Houses of Parliament during session for printing services. It also prints important gazette notifications, ordinances and budget related materials.
ii. The Government Press will be modernised with advanced technology and machineries after it is re-developed by the Central Public Works Department (CPWD). It will be made ready by 2020.
iii. Amount sanctioned for the total project is Rs 338.56 crore. Out of this Rs 100 crore has been allotted for plant and machineries.
About Government Press:
♦ Established – 1931
♦ Location – Minto Road, New Delhi

INTERNATIONAL AFFAIRS

India third most vulnerable country to cyber threats
India has been ranked the third most vulnerable country in terms of risk of cyber threats in 2017, as per the ‘Internet Security Threat Report’ presented by Symantec, a security solutions provider.
India third most vulnerable country to cyber threatsIndia third most vulnerable country to cyber threats:
i. In 2017, 5.09% of global threats detected were in India. India has moved one position up compared to 2016.
ii. U.S. has been ranked as the top most vulnerable country to such attacks with 26.61% attacks. It is followed by China in the second position with 10.95% attacks.  
iii. This global threat ranking is based on eight factors: malware, spam, phishing, bots, network attacks, web attacks, ransomware and cryptominers.
iv. India continues to be second most affected country by spam and bots, third most affected country by network attacks, and fourth most affected country by ransomware, according to the report.
About Symantec:
♦ CEO – Greg Clark
♦ Headquarters – California, US

Turkey hosts critical summit on Syria with Russia, Iran
On 4th April 2018, the presidents of Iran, Turkey and Russia met for their tripartite summit, aimed at speeding up the peace process for Syria and establishing their influence in Syria.
Turkey hosts critical summit on Syria with Russia, IranTurkey hosts critical summit on Syria with Russia, Iran:
i. The tripartite summit was hosted by Turkish President Recep Tayyip Erdogan at his presidential palace in Ankara, Turkey.
ii. It was attended by Russian President Vladimir Putin and Iranian President Hassan Rouhani.
iii. This is the second such tripartite summit. The first tripartite summit was hosted by Vladimir Putin in November 2017 in Sochi, Russia.
iv. Iran, Turkey and Russia have supported peace talks in Astana, Kazakhstan. They believe that it is a parallel process to support UN-supported discussions in Geneva.
About Turkey:
♦ Capital – Ankara
♦ Official language – Turkish
♦ Prime Minister – Binali Yıldırım

BANKING & FINANCE

RBI announces its first bi-monthly monetary policy for the new fiscal year
i. On April 5, 2018, Reserve Bank of India (RBI) announced First Bi-Monthly Monetary Policy Statement for financial year 2018-19. This time too, the Policy Repo Rate has been kept unchanged.
ii. Consequently, the Reverse Repo Rate at 5.75 per cent, marginal standing facility (MSF) rate and the Bank Rate at 6.25 per cent too remains unchanged……………………………………………. Click here to Read More

Post the First Bi-Monthly Monetary Policy Statement announcement, the policy rates and reserve ratios are as follows:

Policy Repo Rate 6.00% Unchanged – since 2nd August 2017
Reverse Repo Rate 5.75% Unchanged – since 2nd August 2017
Marginal Standing Facility Rate 6.25% Unchanged – since 2nd August 2017
Bank Rate 6.25% Unchanged – since 2nd August 2017
Cash Reserve Ratio (CRR) 4.00% Unchanged – since 9th February 2013
Statutory Liquidity Ratio (SLR) 19.50% With Effect from 14th October 2017

BUSINESS

Ola unveils in-trip insurance: Cost starts at Re 1, covers up to Rs 500,000
Ola has introduced an in-trip insurance programme for all its customers in India starting at just Re 1.
Ola unveils in-trip insurance: Cost starts at Re 1, covers up to Rs 500,000:
i. This in-trip insurance will cover for loss of belongings, missed flights, and medical expenses up to Rs 500,000 in case of an accident.
ii. This service is optional. It will be available on rides taken in cabs, auto rickshaws, kaali-peeli cabs and e-rickshaws through Ola.
iii. Ola has partnered with Acko General Insurance and ICICI Lombard General Insurance for this in-trip insurance programme.
iv. Initially this service will be available in metro cities. Later it will be launched in the 110 cities where Ola operates.
v. Customers selecting rental and outstation rides on Ola will also be offered this service at a cost of Rs 10 and Rs 15 per ride respectively.
vi. Ola has become the first ride-hailing app to launch this kind of insurance service for customers in India. Customers can make insurance claims through the Ola app itself.
About Acko General Insurance Ltd:
♦ MD & CEO – Varun Dua
♦ Headquarters – Mumbai

India pips Japan, becomes second largest manufacturer of crude steel
India has surpassed Japan and has become the world’s second largest producer of crude steel in February 2018, according to Steel Users Federation of India (SUFI).
India pips Japan, becomes second largest manufacturer of crude steelIndia pips Japan, becomes second largest manufacturer of crude steel:
i. China is the current largest producer of crude steel in the world. It contributes to more than 50% of steel production in the world.
ii. India’s crude steel production was up 4.4% with 93.11 million tonnes (MT) from April 2017 to February 2018, compared to April 2016 to February 2017.
iii. India has surpassed Japan and has become the second largest producer of crude steel in the world.
iv. Nikunj Turakhia, president of SUFI said that, India’s growth in steel production is due to the policies introduced by the government.
v. According to the World Steel Association, India produced 8.4 MT of crude steel in February 2018, which is 3.4% more than February 2017.
About Steel Users Federation of India (SUFI):
♦ President – Nikunj Turakhia
♦ Location – Mumbai

APPOINTMENTS & RESIGNS

Myntra hires PepsiCo India’s Mithun Sundar as chief revenue officer
Fashion retailer Myntra has appointed Mithun Sundar as its chief revenue officer.
Mithun Sundar – chief revenue officer of Myntra:
i. Mithun Sundar was PepsiCo India’s Head of Strategy. He will take charge as chief revenue officer of Myntra in June 2018. He will report directly to Chief Executive Officer Ananth Narayanan.
ii. He succeeds Naresh Krishnaswamy. Mithun Sundar has 13 years of experience in sales, marketing and strategy. Earlier he had worked with McKinsey and Unilever.
About PepsiCo:
♦ Chairman & CEO – Indra Nooyi
♦ Headquarters – New York, United States

Julius Maada Bio elected as Sierra Leone’s President
On 5th April 2018, Julius Maada Bio was elected the new President of Sierra Leone.
Julius Maada Bio elected as Sierra Leone's PresidentJulius Maada Bio – Sierra Leone’s President:
i. On 5th April 2018, National Electoral Commission of Sierra Leone announced that Julius Maada Bio won the presidential elections with 51.8 percent votes. He belongs to the Sierra Leone People’s Party (SLPP).
ii. He defeated Samura Kamara. Samura Kamara was the candidate of All People’s Congress, which is the ruling party.
iii. The presidential elections were conducted on 31st March 2018. Julius Maada Bio succeeds Ernest Bai Koroma.
iv. Julius Maada Bio ruled Sierra Leone as the military head in 1996, along with former foreign affairs minister Kamara.
v. Julius Maada Bio took oath as the new President of Sierra Leone on 5th April 2018.
About Sierra Leone:
♦ Capital – Freetown
♦ Official language – English
♦ Currency – Leone

SPORTS

ICC Test Rankings: Virat Kohli retains second spot
Virat Kohli has retained the second position in the latest ICC Test Player Rankings that was released on 4th April 2018.
ICC Test Rankings: Virat Kohli retains second spotICC Test Rankings: Virat Kohli retains second spot:
i. Virat Kohli has secured 912 points and obtained the second spot. Australian former captain Steve Smith has secured the top spot with 929 points.
ii. India’s Cheteshwar Pujara also retained his seventh position with 810 points. Also India’s Ajinkya Rahane and Lokesh Rahul have secured 18th and 11th spots respectively.
iii. Indian test spinner Ravichandran Ashwin has obtained fifth position with 803 points in the bowlers ranking. Ravindra Jadeja has obtained second position in the all-rounders ranking.
iii. South Africa’s Aiden Markram has secured ninth position in the batsmen ranking. New Zealand has surpassed Australia and secured third place in the ICC Test Team Rankings.
About International Cricket Council (ICC):
♦ CEO – David Richardson
♦ Headquarters – Dubai, United Arab Emirates

OBITUARY

Ex-England midfielder Ray Wilkins passes away
On 4th April 2018, Ray Wilkins, ex-England midfielder, passed away after suffering from a cardiac arrest, at St George’s Hospital in Tooting, south-west London.
Ex-England midfielder Ray Wilkins passes awayDeath of Ray Wilkins:
i. Ray Wilkins was 61 years old. He had played 84 times for England from 1976 to 1986. He also served as a captain for 10 games.
ii. His nickname was “Butch.” He played for teams like Manchester United, Chelsea and AC Milan.
iii. He won the FA Cup in 1983 and the Scottish league title in 1989. He ended his club career in 1997. Later, he served as a commentator on British TV and radio.
Some important stadiums in Goa:
♦ Tilak Maidan Stadium
♦ Duler Stadium
♦ Dr Shyama Prasad Mukherjee Indoor Stadium

IMPORTANT DAYS

National maritime Day – 5 April
On 5th April 2018, the 55th edition of National maritime Day was celebrated all over India.
National maritime Day – 5 AprilNational maritime Day 2018:
i. National maritime Day is celebrated on 5th April every year since 1964. On 5th April 1919, SS Loyalty, the first ship of the Scindia Steam Navigation Company Ltd started from Mumbai to the United Kingdom.
ii. This is a very important day in the history of Indian maritime sector. The theme for National maritime Day 2018 is: ‘Indian Shipping – An Ocean of opportunity’.
iii. On the National maritime Day, awareness on supporting safe and environmentally strong commerce between continents is highlighted.
iv. ‘Varuna’ award is conferred to outstanding contributors of Indian maritime sector on this day. Also, outstanding achievers in the field of education and training are awarded on this day.
About Indian Navy:
♦ Chief of the Naval Staff (CNS) – Admiral Sunil Lanba
♦ Headquarters – New Delhi