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INDIAN AFFAIRS
Pradhan, UAE minister flag off first consignment of ADNOC crude for India
On May 12, 2018, Union Petroleum and Natural Gas Minister Dharmendra Pradhan and UAE Minister of State & Abu Dhabi National Oil Company (ADNOC) Group CEO Dr. Sultan Al Jaber flagged off first consignment of 2 million barrels of ADNOC crude for India.
Information about first consignment of ADNOC crude for India:
i. In February 2018, during Indian Prime Minister Narendra Modi’s visit to UAE, an agreement was signed between Indian Strategic Petroleum Reserves Ltd (ISPRL) and ADNOC of UAE, under which ADNOC will store about 5.86 million barrels of crude oil in India’s Strategic Petroleum Reserve (SPR) facility at Mangalore at its own cost.
ii. It is to be noted that ISPRL has built 39 million barrels strategic crude oil storage facility at three locations in India viz. Vishakhapatnam (Andhra Pradesh), Mangalore (Karnataka) and Padur (Kerala).
iii. As per the ISPR-ADNOC agreement, ADNOC can sell part of the crude oil stored, to Indian refineries on commercial basis and a certain portion of the storage will be for exclusive use of the Indian government.
iv. Mr. Pradhan is on an official visit to United Arab Emirates (UAE). During the course of this visit, he held bilateral meeting with Mr. Jaber to discuss the ongoing cooperation in the hydrocarbon sector and explored ways to further enhance the engagement.
Quick Facts about ADNOC:
♦ Founded in – 1971
♦ Headquarters – Abu Dhabi, UAE
♦ Owned by – UAE Government
Ministry of Information & Broadcasting to establish a dedicated web portal for promotion of Audio Visual Services in India
The Ministry of Information and Broadcasting will set up a dedicated web portal for spreading information on filming locations and production facilities available in India.
Dedicated web portal for promotion of Audio Visual Services in India:
i. The portal will be of great help to production companies looking to shoot in India to obtain permissions and explore locations in India.
ii. It will aid in acceptance of the application for shooting feature films, TV and web reality shows, along with the online payments.
iii. It will offer information on locations and link to all state portals. It will capture detailed information related to a particular location, resources or facilities available in a standard format.
About Ministry of Information & Broadcasting:
♦ Minister of Information and Broadcasting – Smriti Irani
♦ Minister of State for Information and Broadcasting – Rajyavardhan Singh Rathore
Shri J P Nadda holds high level review meeting on Vector Borne diseases in Delhi
On 12th May 2018, J P Nadda, Union Minister of Health and Family Welfare chaired a high level meeting to review the preparedness of various agencies for prevention and management of vector borne diseases, in New Delhi.
High level review meeting on Vector Borne diseases:
i. J P Nadda asked the agencies to develop a separate registry for cases originating and being treated in Delhi.
ii. He said to focus on active case finding for source identification and reduction of vectors and transmission.
iii. He added that there should be no shortage of diagnostic kits, drugs, testing labs, manpower and funds.
iv. He highlighted the importance of conducting focused and intensive IEC (Information, Education & Communication) campaigns and continuing them through the monsoon season.
v. He directed the officers to perform supervisory visits to various hospitals in Delhi to assess the situation, preparedness and to offer on the spot technical guidance to the health authorities.
Some important museums in New Delhi:
♦ National Museum of Natural History
♦ National Rail Museum
♦ National Science Centre
Govt set to expand Buddhist tourism circuit to 21 more states
In a bid to attract more Buddhist tourists from across the world, Central Government has decided to expand Buddhist tourism circuit to 21 more states.
Expansion of Buddhist Tourism Circuit:
i. Buddhist Circuit is among the thirteen thematic circuits under central Government’s Swadesh Darshan Scheme. As per earlier plan, it comprised only seven major Buddhist pilgrimage sites in Uttar Pradesh and Bihar.
ii. However, now the circuit will be expanded as Union Ministry of Tourism has identified stupas and viharas in 21 states, around which small intra-state Buddhist zones will be developed.
iii. Some of these states are Madhya Pradesh, Rajasthan, Andhra Pradesh, West Bengal, Goa, Gujarat and Jammu & Kashmir.
iv. Among these states, most noteworthy is the plan to create a Buddhist theme park in Madhya Pradesh, which will have light and sound show, interpretation centre, wayside amenities and sanitation facilities.
v. Objective behind expanding Buddhist circuit is to attract more Buddhist tourists, particularly the new-age Buddhist tourists from the West, and also from traditional markets in South East Asia.
vi. This circuit will be India’s first trans-national tourist circuit as Lumbini (birthplace of Buddha) in Nepal will also be promoted for tourism along with Buddhist sites in India.
Army Chief General Bipin Rawat reached Colombo today on 5-day visit to Sri Lanka
On 13th May 2018, Chief of Army Staff General of India, Bipin Rawat arrived at Colombo on a five-day visit to Sri Lanka.
Army Chief General Bipin Rawat on 5-day visit to Sri Lanka:
i. As a part of his visit, Bipin Rawat will meet the Sri Lankan President Maithripala Sirisena and Prime Minister Ranil Wickremsinghe.
ii. He will also conduct a meeting with the military heads of Sri Lanka. Issues of mutual interest and ways to strengthen military cooperation between India and Sri Lanka will be discussed.
iii. Bipin Rawat will inaugurate a communications lab set up near Kandy with the assistance of Indian army.
iv. He will visit military establishments in Trincomalee and Diyatalawa. He will also visit some Sri Lankan military establishments outside Colombo.
Some important international airports in India:
♦ Imphal International Airport – Imphal, Manipur
♦ Biju Patnaik International Airport – Bhubaneswar, Odisha
♦ Sri Guru Ram Dass Jee International Airport – Amritsar, Punjab
Par panel to look into black money and performance of public sector banks
i. On 10th May 2018, a parliamentary panel of 30 membersestimate Committeealso known as Continuous Economy committee has been constituted by the speaker of parliament . Veteran BJP leader Mr.MuraliManohar Joshi has been appointed as the chairman of this committee.
ii. This committee will focus on the black money and the unaccounted money that was legaitimised during the demonetization period as per RBI’s report. Also it will look into the performance of public sector bank, import of uranium ,preparedness of Indian armed forces, environment and mining activities, among other things related to various ministries in the year 2018-2019.
Key points:
♦ Chairperson of Public Accounts Committee: Mr. MallikarjunKharge.
♦ 24 th Governor of RBI :Mr. Urjit Patel
♦ Speaker of Parliament : Mrs. SumitraMahajan.
INTERNATIONAL AFFAIRS
PM Narendra Modi’s Nepal Visit – Overview
i. Prime Minister Narendra Modi was on an official visit to Nepal on 11th and 12th May, 2018. This was PM Modi’s third visit to Nepal and the first high-level visit from India since the formation of the new Government in Nepal this year.
ii. On May 11, 2018, PM Modi Modi and his Nepalese counterpart K P Oli jointly inaugurated a direct bus service between Janakpur (in Dhanusa District of Nepal) and Ayodhya (in Uttar Pradesh).
iii. On May 11, 2018, Indian Prime Minister Narendra Modi and his Nepalese counterpart K P Oli jointly laid the foundation stone of the 900-megawatt Arun III Hydroelectric Power Plant in Tumlingtar area in eastern Nepal.
iv. On May 11, 2018, Prime Minister Narendra Modi met Foreign Minister of Nepal, Pradeep Kumar Gyawali……………………………………………………………………………Click here to read more
China’s first home-built aircraft carrier begins sea trials
On 13th May 2018, China’s first domestically developed aircraft carrier began sea trials.
China’s first home-built aircraft carrier begins sea trials:
i. The aircraft carrier has not been named yet. It is a 50,000-metric tonne vessel. It started off from a shipyard of Dalian Shipbuilding Industry in Liaoning province.
ii. This vessel will become China’s second aircraft carrier. China commissioned its first carrier the Liaoning in 2012.
iii. This trial aims to demonstrate the reliability and capability of the ship’s propulsion systems.
iv. The carrier was launched in 2017. It has been undergoing fitting of weapons and other systems. It has not yet entered service.
v. The new vessel will focus on conducting combat-ready patrols and safeguarding China’s maritime sovereignty and interests.
vi. China has developed a new jet fighter named A J-15 fighter to operate from the decks of its carriers.
vii. The new carrier has a conventional propulsion system. It will use a ramp to launch J-15 fighter jets. The ship will carry various types of helicopters.
viii. The new carrier has over 12,000 pieces of equipment. They were made by 532 Chinese enterprises. The vessel has nearly 3,600 cabins.
Some important international boundary lines:
♦ Order Neisse Line – Germany & Poland (aftermath of World War II)
♦ Hindenburg Line – Poland & Germany (at the time of First World War)
♦ Sigfried Line East – France & Germany (at the time of second world war)
BANKING & FINANCE
Fino Payments Bank launches digital suite
In a bid to expand its footprint in the digital banking and payments space, Fino Payments Bank has launched a digital services suite.
Fino Payments Bank’s digital services suite:
i. The suite includes BPay app, which was launched in September 2017 for digital transition of customers from assisted to self-service mode.
ii. In addition to BPay, the suite includes Unified Payment Interface (UPI) , BHIM app, which has proved to be a game changer in peer-to-peer and merchant payments.
iii. The suite also includes net banking facility, a Digi Savings Account which can be opened online only by providing Aadhaar number and PAN card and FasTag to make digital payments at national highway toll plazas.
Quick Facts about Fino Payments Bank:
♦ Incorporated on – April 4, 2017
♦ Registered Office – Mumbai, Maharashtra
♦ Current CEO – Rishi Gupta
RBI restricts Dena Bank from taking fresh credit exposure and Hiring
Dena Bank has announced that Reserve Bank of India has restricted it from taking fresh credit exposure and recruiting new staff.
Restrictions on Dena Bank:
i. It is to be noted that RBI initiated prompt corrective action against Dena Bank and imposed certain restrictions in May 2017 owing to high net non performing assets (NPA) and negative Return on Assets.
ii. The fresh restriction has been imposed in wake of deteriorated financial performance for the 4th quarter of 2017-18. For fourth quarter ended March 31, 2018, Dena Bank reported a net loss of Rs 1225 crore, which is much wider than the net loss of Rs 575 crore recorded in the same quarter last year.
iii. In addition to this, for the financial year 2017-18, Dena Bank recorded a net loss of Rs 1924 crore marking a third consecutive year of net loss.
Quick Facts about Dena Bank:
♦ Founded in – 1938
♦ Headquarters – Mumbai, Maharashtra
♦ Current Executive Director – Ramesh Singh
♦ Tagline – Trusted Family Bank
BUSINESS & ECONOMY
India largest remittance-receiving country in world
As per the report RemitSCOPE – Remittance markets and opportunities- Asia and the Pacific, India was the largest remittance-receiving country in the world, with migrant workers from India sending home USD 69 billion in 2017.
India largest remittance-receiving country in world:
i. The RemitSCOPE – Remittance markets and opportunities- Asia and the Pacific report has said that the following are the three largest remittance-receiving countries in the world in 2017:
- India (USD 69 billion)
- China (USD 64 billion)
- Philippines (USD 33 billion)
ii. It states that remittances to the Asia-Pacific region amounted to US 256 billion in 2017. The report was released by the International Fund for Agricultural Development (IFAD).
iii. Pakistan (USD 20 billion), and Vietnam (USD 14 billion) have also featured in the top 10.
iv. Nearly 70 % of remittances sent to Asia and the Pacific are from outside the region especially from the Gulf States (32 %), North America (26 %) and Europe (12 %).
v. Nearly USD 6 trillion in remittances are expected to be sent to developing countries by 2030. More than half of these remittances will be sent to the Asia Pacific regions, mainly to small towns and villages.
vi. These remittances represent 53 % of flows worldwide, with a growth of 4.87 per cent since 2008.
vii. Remittance outflows from the region amount to USD 78 billion and 93 % of the flows remain in the region.
viii. Globally, around 40 percent of the total value of remittances go to rural areas.
viii. In the Asia- Pacific region, remittances go to countries with a majority of rural populations like Nepal (81 per cent), India (67 per cent), Vietnam (66 per cent), Bangladesh (65 per cent), Pakistan (61 per cent) and the Philippines (56 per cent).
Tag lines of some banks:
♦ Bank of Maharashtra – One Family One Bank
♦ Canara Bank – Together we can
♦ Bank of India – Relationships beyond Banking
AWARDS & RECOGNITION
Lata Mangeshkar conferred with Swara Mauli award
On 12th May 2018, singer Lata Mangeshkar was presented the Swara Mouli title by spiritual guru Vidya Narsimha Bharati Swami at her residence in Prabhu Kunj, Mumbai.
Lata Mangeshkar conferred with Swara Mauli award:
i. Lata Mangeshkar is 88 years old. She received the Bharat Ratna award in 2001. She has also received the Dadasaheb Phalke Award.
ii. Her sisters Asha Bhosle and Usha Mangeshkar and brother Hridaynath Mangeshkar were also present at the occasion.
Some national parks in Maharashtra:
♦ Gugamal National Park
♦ Sanjay Gandhi National Park
SCIENCE & TECHNOLOGY
US cancels NASA’s carbon monitoring project
On 10th May 2018, “Carbon Monitoring System (CMS)”, a NASA programme that cost $10 million per year to track carbon and methane was cancelled.
rbon Monitoring System (CMS) cancelled:
i. The Carbon Monitoring System (CMS) programme tracked sources and sinks for carbon and developed high-resolution models of earth’s flows of carbon.
ii. NASA said that, United States has cancelled the CMS project due to budget constraints and higher priorities within the science budget.
About NASA (National Aeronautics and Space Administration):
♦ Administrator – Jim Bridenstine
♦ Headquarters – Washington, D.C., U.S.
