Current Affairs June 18, 2017 : SETTING UP OF GST FACILITATION CELL IN DIPP:
SETTING UP OF GST FACILITATION CELL IN DIPP:
The Cabinet Secretary’s directions a GST facilitation cell has been set up in the Department with a view to facilitate the rollout of GST. The GST facilitation cell is headed by Sh. Sudhansu Sekhar Das, Economic Adviser. The cell shall have the following functions:
(i) Be in Constant touch with the major industry and business associations relating to the Department.
(ii) Shall be the first point of contact for addressing any issue being faced by any sector related to the Department.
GOVT ANNOUNCES 149 NEW PASSPORT CENTRES:
The government has come up with a plan to open passport centres within a radius of 50 km from each other. External Affairs Minister Sushma Swaraj announced the launch of 149 new Post Office Passport Seva Kendras.
200th ANNIVERSARY OF KERALA’S ‘MAGNA CARTA OF EDUCATION’:
The Institute of Social Sciences (ISS), a Delhi-based private research institute, marked the 200th anniversary of Kerala’s “Magna Carta of education” marked in Delhi.
Vice President Hamid Ansari, who was the chief guest at the event, lauded Kerala’s achievements in education.
MANGALURU TO HAVE START-UP INCUBATION CENTRE:
Union Minister of State for Commerce and Industry Nirmala Sitharaman said the first start-up incubation centre for Dakshina Kannada will come up at Mallikatta in the city.
MAHARASHTRA LEADS IN AWARDS FOR PRIME MINISTER AWAS YOJANA:
Maharashtra has received the maximum awards for execution of the Prime Minister Awas Yojana (PMAY), for its technology-driven processes for registration, geo-tagging and sanctioning of houses under PMAY (Gramin).
The state has bagged the gold medal for its impressive performance in overall implementation of PMAY (Gramin).
- Capital: Mumbai
- Chief Minister: Devendra Fadnavis
- Governor: C Vidhyasagar Rao
HYDERABAD TEAM GROWS MINIATURE EYES USING STEM CELLS:
Researchers at the Hyderabad-based LV Prasad Eye Institute (LVPEI) have successfully grown miniature eye-like organs that closely resemble the developing eyes of an early-stage embryo. The miniature eyes were produced using induced pluripotent stem (iPS) cells.
- Capital: Hyderabad
- Chief Minister: Chandrasekhar Rao
- Governor: ESL Narashiman
COMPENSATION FOR DISABLED PARAMILITARY JAWANS UPPED TO RS 20 LAKH:
Compensation for paramilitary personnel, injured in action leading to 100 per cent disability, has been increased from Rs 9 lakh to Rs 20 lakh. The enhanced compensation will be applicable to all central paramilitary personnel whose disability is attributed to or aggravated in service on or after January 1, 2016, the home ministry in an office memorandum.
GOVT PLANNING TO SET UP AN ACADEMY TO PROMOTE BRAJ BHASHA:
The government is planning to set up an academy to promote Braj Bhasha, a dialect of Hindi which is spoken by people primarily in Braj region including Agra, Mathura, Etah and Aligarh.
Union Culture Minister Mahesh Sharma is there in the launch of “Culture Mapping of India” programme at Mathura.
Braj Bhasha, also called Braj Bhasa, Braj Bhakha, or Brij Bhasa, language descended from Shauraseni Prakrit and commonly viewed as a western dialect of Hindi.
ASSAM SETS TARGET TO PROVIDE SKILL DEVELOPMENT TRAINING TO 1.5 LAKH YOUTHS:
Assam government has set the target to provide skill development training to 1.5 lakh youths during current financial year.
Mission Director of Skill Development Mission: A P Tiwari
- Capital: Dispur
- Chief Minister: Sarbananda Sonowal
- Governor: Banwarilal Purohit
SWITZERLAND AGREES TO AUTOMATIC EXCHANGE OF ACCOUNT INFO WITH INDIA FROM 2019:
Switzerland ratified automatic exchange of financial account information with India and 40 other jurisdictions to facilitate immediate sharing of details about suspected black money, even as it sought strict adherence to confidentiality and data security.
Adopting the dispatch on introduction of the AEOI, a global convention for automatic information exchange on tax matters, the Swiss Federal Council informed the implementation is planned for 2018 and the first set of data should be exchanged in 2019.
- Capital: Bern
- Currency: Franc
INDO-AFGHAN AIR CARGO PLANE TO FLY OVER PAK:
India and Afghanistan will operationalise a dedicated air cargo link over Pakistan in the next couple of days.
This will help increase bilateral trade hampered by their troubled ties with Pakistan, which disallows Indian goods along the road route.
Ministry of External Affairs (MoEA) spokesperson: Gopal Baglay
- Currency: Afghan Afghani
- Capital: Kabul
VIVID SYDNEY BREAKS GUINNESS WORLD RECORD FOR MAXIMUM NUMBER OF LIGHT INSTALLATIONS:
Vivid Sydney, the world’s largest festival of light, music and ideas, has once again cemented itself as a record-breaking international event.
Guinness World Records, the global authority on record breaking, has awarded Vivid Sydney installation Dreamscape with the title for the ‘Largest interactive lighting display’.
Made of 124,128 lights, Dreamscape, created by Vivid Sydney veteran 32 Hundred Lighting, links the entire Circular Quay precinct from the iconic Sydney Opera House to the Sydney Harbour Bridge into one cohesive canvas of light.
- Capital: Canberra
- Currency: Australian dollar
- Prime Minister: Malcolm Turnbull
NEW ZEALAND OPTIMISTIC OF FREE TRADE DEAL WITH US:
The United States has indicated it is open to a free trade agreement (FTA) with New Zealand, New Zealand’s trade minister Todd McClay visited Washington for high-level trade talks with the administration of U.S. President Donald Trump and also meeting with Commerce Secretary Wilbur Ross.
- Currency: New Zealand dollar
- Capital: Wellington
BANKING & BUSINESS
INSOLVENCY AND BANKRUPTCY BOARD NOTIFIES FAST TRACK INSOLVENCY RESOLUTION PROCESS:
The Insolvency and Bankruptcy Code, 2016 (Code), has notified the Insolvency and Bankruptcy Board of India (Fast Track Insolvency Resolution Process for Corporate Persons) Regulations, 2017. These regulations provide the process from initiation of insolvency resolution of eligible corporate debtors till its conclusion with approval of the resolution plan by the Adjudicating Authority. The process in these cases shall be completed within a period of 90 days, as against 180 days in other cases. However, the Adjudicating Authority may, if satisfied, extend the period of 90 days by a further period up to 45 days for completion of the process.
SBI, TIRUMALA MILK PRODUCTS TIE UP FOR PROVIDING LOANS TO DAIRY FARMERS:
State Bank of India has entered into a tie-up with Tirumala Milk Products, a South- based company which was acquired by Group Lactalis in 2014, to provide loans to dairy farmers who supply milk to the latter.
France-based Group Lactalis, which also acquired Indore-based Anik Dairy in 2016, wants to double the number of dairy farmers under its fold to three lakh and ramp up the amount of milk it procures daily to 25 lakh litres by 2020 from 14 lakh litres now.
RBI INITIATES PCA AGAINST BOM AS NPAS MOUNT:
The Reserve Bank has initiated Prompt Corrective Action (PCA) against Bank of Maharashtra (BoM) in view of the high level of bad loans and negative return on assets.
ISRO MAY USE SEMI-CRYOGENIC ENGINE FOR HEAVY LIFT ROCKETS:
The Indian Space Research Organisation (ISRO) has progressed to the testing of subsystems in the development of a semi-cryogenic engine for rockets with heavier payload capacity.
The testing facilities at the ISRO Propulsion Complex, Mahendragiri, are being augmented for the engine being developed by the Liquid Propulsion Systems Centre here under a project code named SCE 200.
RBI DIRECTS IDBI BANK TO START INSOLVENCY PROCEEDINGS FOR LANCO INFRA:
The Reserve Bank of India (RBI) has directed its lead lender IDBI Bank to initiate insolvency proceedings for the company under the Insolvency and Bankruptcy Code (IBC) for Lanco Infratech.
ANNABEL MEHTA TO RECEIVE BRITISH HONOUR:
Social activist Annabel Mehta, a British national, has been awarded the MBE (Member of the Order of the British Empire) for her service to the underprivileged. The award will be presented to her at Buckingham Palace in London.
NO ICC WORLD T20 IN 2018, NEXT EDITION IN 2020:
The World Twenty20 Championship’s seventh edition next year is all set to be scrapped and pushed to 2020 as the top member nations will be busy with bilateral commitments in 2018.
According to highly-placed sources in the International Cricket Council, the next edition of ICC World T2O will only be held in 2020
BWF PARA-BADMINTON SUKANT BREAKS INTO WORLD TOP 3:
Pune-based Sukant Kadam attained a new high by breaking into the top three of the BWF Para-Badminton World Rankings. Sukant, a member of Nikhil Kanetkar Badminton Academy (NKBA), moved up five places to the No 3 rank in singles of the ‘SL4’ class, according to the world rankings released.
PRARTHANA THOMBARE WINS DOUBLES TITLE:
Prarthana Thombare and Kotomi Takahata of Japan won the doubles title in the $60,000 ITF women’s tennis tournament.
JOHN AVILDSEN, OSCAR-WINNING DIRECTOR OF ‘ROCKY’ AND ‘KARATE KID,’ DIES AT 81:
John Avildsen, the man behind the camera for a string of beloved blockbusters in the 1970s and ’80s, died at age 81.
The Oscar-winning director of Rocky and The Karate Kid died at Los Angeles.