DAILY CURRENT AFFAIRS: JULY 12, 2018

Daily Current Affairs (July 12, 2018) like many other sections is inevitable and this also helps to score in the Banking awareness , Static GK and Financial Awareness sections. Remember, Banking Awareness and Static Awareness Questions are asked from the General Awareness section. This will also help you to ride your preparations for the forthcoming exams.

NATIONAL

India’s 1st Private UAV Factory To Come Up In Kota

India’s first private sector unit for manufacturing unmanned air vehicles (UAV) and light bullet proof vehicles (LBPV) will be set up by DCM Shriram Industries Group on the campus of Shriram Rayons in Kota, Rajasthan.

It will be the country’s first private sector company to manufacture UAVs and LBPVs.

Total 3000 LBPVs and 500 UAVs will be manufactured annually once the plant is set up and starts its manufacturing. The UAVs will be able to fly to a height of 500 to 2000 km, while LBPVs can operate in difficult terrains and has off-road abilities.

The new defence unit of Shriram Rayons in Kota is being set up under ‘Make in India’ initiative of the union government.

Telecom Department Clears Vodafone-Idea Merger With Riders

The Department of Telecom (DoT) gave its nod to the Vodafone India-Idea Cellular deal to form the biggest telecom entity in India.

The department has asked Idea Cellular to pay Rs 3,926 crore in cash for Vodafone spectrum and furnish a bank guarantee of Rs 3,342 crore.

Vodafone will own 45.1% stake in the combined entity, while Kumar Mangalam Birla-led Aditya Birla Group and Idea shareholders would have 26% and 28.9%, respectively.

PM Modi: Third most followed world leader on Twitter

According to a study on ‘world leaders on social media’ Prime Minister Narendra Modi is the third most followed world leader on Twitter with 42 million followers on his personal account @NarendraModi.

The survey was conducted by communications firm Burson Cohn & Wolfe (BCW).

The first two spot was got by US President Donald Trump and Pope Francis.

Sushma Swaraj, India’s External Affairs Minister also made it to the top 10 list of the most followed world leaders, with more than 10 million followers on Twitter.

HRD granted Institution of Eminence status to six educational institution

The HRD ministry has awarded Institution of Eminence (IoE) status to six educational institutions. With IIT-Delhi, IIT-Bombay, BITS-Pilani, Indian Institute of Science (IISc) and Manipal Academy of Higher Education, there is the Reliance Foundation’s proposed Jio Institute.

While the Human Resource Development (HRD) Ministry will grant Rs 10 billion funds to the three public institutions in the next five years, the private institutes will not be eligible for government funding.

The move is part of a scheme of the HRD Ministry to select 20 IoEs — 10 public and 10 private — that will enjoy complete academic and administrative autonomy.

Gujarat CM Vijay Rupani gives approval for Rs 39-cr ‘Seema Darshan’ project

Gujarat Chief Minister Vijay Rupani has given in-principle approval for the 39-crore rupees ‘Seema Darshan’ project.

The project aims for developing more infrastructure facilities from T-Junction to Zero Point at Nadabet near Suigam in Banaskantha district to instil patriotism through a unique Gujarat initiative for border tourism.

The project being developed on Wagah Border pattern, entails an exhibition hall, a parade ground with amphitheatre for 5,000 people. The meeting decided to send a proposal to the Union Home and Tourism Ministries for financial assistance.

INTERNATIONAL

India, UK Sign Agreement On Exchange Of Experience By Legal Professionals

India and the United Kingdom signed an agreement on exchange of experience by legal professionals and government functionaries for resolution of disputes before various courts and tribunals.

The agreement was signed by Law Minister Ravi Shankar Prasad and UK’s Secretary of State for Justice David Gauke.

It aims to enhance bilateral cooperation in legal affairs which would provide a framework for promoting greater cooperation between the judicial and legal professionals in both countries through exchange of expertise and training.

The two countries would also exchange information regarding current issues of international significance.

Japanese MNC Toray to invest ₹1,000 crore in Sri City facility

Toray Industries (India), a subsidiary of Toray Industries, Inc, a Japanese major producing key materials for a range of industries, plans to invest ₹1,000 crore in setting up a manufacturing unit in Sri City, Andhra Pradesh.

Toray is the 20th Japanese company setting up facility in Sri City, and this is Toray’s second production unit in India. Its products will be used by diaper makers like Unicharm, Proctor & Gamble and Kimberley Clark and the automotive, electrical and fast moving consumer goods industries.

Scientist developed world’s oldest colour

Scientists have discovered the oldest colours in the geological record — 1.1 billion-year-old bright pink pigments extracted from rocks deep beneath the Sahara desert in Africa.

The pigments taken from marine black shales of the Taoudeni Basin in Mauritania, West Africa, were more than half a billion years older than previous pigment discoveries.

The fossils range from blood red to deep purple in their concentrated form, and bright pink when diluted.

The researchers crushed the billion-year-old rocks to powder, before extracting and analysing molecules of ancient organisms from them.

BANKING AND ECONOMY

India Becomes 69th Shareholder of European Bank For Reconstruction & Development

India was formally announced as the 69th shareholder of the European Bank for Reconstruction and Development (EBRD).

It paves the way for more joint investment with Indian companies across the bank’s regions of operation.

India takes a shareholding in the EBRD but it will not be a recipient of EBRD financing.

The EBRD is also working closely with leading Indian organisations, such as FICCI, the Confederation of Indian Industry (CII), the Associated Chambers of Commerce & Industry of India (ASSOCHAM), and the International Solar Alliance (ISA).

The European Bank for Reconstruction and Development is an international financial institution founded in 1991.

Headquarters: London, United Kingdom

BoB signs pact with KB Financial Group

The Bank of Baroda has signed a memorandum of understanding (MoU) with KB Financial Group Inc. (KBFG), Korea, for a comprehensive business cooperation to establish In-Ko financing corridor and develop innovative digital payment ecosystem.

The MoU was signed during the India-Korea Business Forum by P S Jayakumar, MD & CEO, Bank of Baroda and Yoon Jong-kyu, Chairman, KB Financial Group.

Bank of Baroda and KB Financial Group will work together on creating a new digital payments ecosystem in India and creating In-Ko corridor for providing reciprocal financial services to corporate and retail clients of Bank of Baroda and KB Financial Group.

BOB

Headquarters: Alkapuri, Vadodara

UN Security Council adopts Resolution 2427

The UN Security Council has adopted a resolution aimed at a framework for mainstreaming protection, rights, well-being and empowerment of children throughout the conflict cycle.

Resolution 2427, which won unanimous approval of the 15 members of the council strongly condemns the recruitment and use of children by parties to armed conflict as well as their re-recruitment, killing and maiming, rape and other forms of sexual violence, and abductions.

The adoption of the resolution preceded a high-level open debate on children and armed conflict, which was chaired by Swedish Prime Minister Stefan Lofven, whose country holds the presidency of the Security Council for July.

APPOINTMENTS AND RESIGNATIONS

Tushar Arothe Resigns As India Women’s Cricket Coach

Indian women’s cricket team coach Tushar Arothe has resigned after his position became untenable due to alleged differences with some of the star players, who had protested against his training methods.

This is the second time during the CoA tenure that a national coach has stepped down after players’ revolt. Last year, men’s team head coach Anil Kumble resigned after his much-publicised differences with captain Virat Kohli.

Erdogan sworn in as Turkish president

Recep Tayyip Erdoğan has been sworn in for another term as president of Turkey.

Erdoğan, who has ruled Turkey as prime minister and then as president for 15 years, won a snap election last month with 52% of the vote.

Turkey

Capital: Ankara

Currency: Turkish Lira

RANKING

Global Innovation Index:India Ranks 57th

The Global Innovation Index (GII) has ranked India as the 57th most innovative nation in the world.

India has improved its ranking from 60th position in 2017. India has been improving steadily since it was ranked 81st in 2015 and China improved its ranking from 22 in 2017 to 17 this year.

The GII is being developed jointly by Cornell University, the Paris-based business school Insead and the World Intellectual Property Organisation (WIPO) in Geneva. GII ranks 126 economies based on 80 indicators.

The Top 3 Countries are:

1. Switzerland
2. The Netherlands
3. Sweden
   

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Andhra Pradesh Tops Ease Of Doing Business Rankings

Andhra Pradesh has topped the government’s ease of doing business index, ahead of the industrialised states such as Gujarat, Maharashtra and Tamil Nadu.

Andhra Pradesh scored 98.42 percent in the third edition of Department of Industrial Policy and Promotion’s (DIPP’s) Business Reforms Action Plan, and is followed closely by Telangana with a score of 98.33 percent.

The final rankings are a result of a combination of “reform evidence score” and “feedback score”. Andhra Pradesh scored 99.73 percent and 86.50 percent in reform evidence and feedback, respectively.

Andhra Pradesh

Chief minister: N. Chandrababu Naidu

Governor: E. S. L. Narasimhan

Western Ghats bags fourth in best Tourism Spot

The Western Ghats has figured in Lonely Planet’s top five “2018 Best in Asia” list, a collection of 10 of the best destinations to visit in the continent for the year.

One of the Hottest Biodiversity Hotspots and UNESCO World Heritage site, the Western Ghats has came fourth in the list of the Lonely Planet.

The Western Ghats is Older than the Himalayas and well known for its rich and unique flora and fauna.The panel of travel experts have named Busan, South Korea, Uzbekistan and Ho Chi Minh City, Vietnam to the first three spots.

SPORTS

PR Sreejesh to lead Indian men’s hockey squad

Goalkeeper P.R. Sreejesh will lead the 18-member Indian Men’s Hockey Team at the 18th Asian Games, slated to be held in Jakarta and Palembang.

Midfielder Chinglensana Singh Kangujam has been named the Vice Captain for the tournament and he will be joined by the experienced Sardar Singh, Manpreet Singh, Simranjeet Singh and Vivek Sagar Prasad in the midfield.

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