Daily Current Affairs (June 16, 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.


Government approves Rs. 5.5 lakh per family to West Pakistan Refugees settled in J&K

The Union Ministry of Home Affairs (MHA) has formally approved financial assistance amounting to Rs 5.5 lakh per family to 5764 families of West Pakistani refugees settled in Jammu and Kashmir.

This is for the first time since about 70 years of settlement of West Pakistani refugees here that they were being paid compensation by the Government though their major demand for permanent citizenship rights in the State hasn’t been conceded by the Government so far.

The scheme comes into effect from June 2018.

The amount of Rs. 5.5 lakh per family will be deposited in bank accounts of eligible beneficiaries based on authentication by State Government.

Jammu and Kashmir

Capitals: Jammu (Winter), Srinagar (Summer)

Chief minister: Mehbooba Mufti

Conference On Implementation of NPS by the CABs Held in Delhi

A Conference on Implementation of National Pension System (NPS) by the Central Autonomous Bodies (CABs) was organized by Pension Fund Regulatory and Development Authority (PFRDA) in New Delhi.

The progress in the implementation of NPS with respect to compliance of timelines in various NPS related activities could be brought to light and a way forward could be provided were discussed.

Dr. Badri Singh Bhandari, Whole Time Member (Economics) in his opening remarks emphasised the need for discipline in submission of subscriber registration forms and remittance of the subscriber contribution.


Headquarters: New Delhi

Chairman: Hemant G. Contractor

Piyush Goyal dedicates NLCIL’s Three Solar Power Projects to the Nation

Union Minister for Finance, Railways and Coal Piyush Goyal inaugurated three solar power projects erected at Virudhunagar and Tirunelveli districts.

The solar power projects erected at Thoppalaakkarai and Sethupuram in Virudhunagar district and Sellaiya Sezhiyanallur in Tirunelveli district, with an installed capacity of 100 MW each, were dedicated to the nation by the Minister in the presence of S. K. Acharya,Neyveli Lignite Corporation India Ltd( NLCIL) CMD.

The projects were erected at a cost of ₹ 1,302 crore, which include operation and maintenance cost for 15 years. The power produced from the units would be given to Tamil Nadu Power Generation and Distribution Company (Tangedco) at a cost of ₹4.41 per unit.

Piyush Goyal constituency: Maharashtra, Rajyasabha


Maharashtra CM Meets World Bank CEO Kristalina Georgieva

Maharashtra chief minister Devendra Fadnavis has sought assistance from the World Bank for a Multimodal Transport Corridor as well as a Rural Livelihood Project which aims to provide sustainable livelihood enhancements in 10,000 villages in the state.

Fadnavis was bestowed with the Outstanding Leadership in Development Award from Georgetown University and Centre for Strategic and International Studies (CSIS) in Washington DC.


Capital: Mumbai

Governor: C. Vidyasagar Rao

23rd European Union Film Festival (EUFF-2018)

India will host the 23rd European Union Film Festival (EUFF-2018) at the Siri Fort Auditorium in New Delhi. Nearly 24 latest European movies from 23 European countries will be screened.

The festival is organized by Directorate of Film Festivals (DFF) under Ministry of Information and Broadcasting, partnering with the delegation of the European Union and embassies of EU Member States.

The festival will improve cultural ties between India and European countries.

European Union

Headquarters: City of Brussels, Belgium

Member countries: 28


PhonePe partners with Ola

The Flipkart-owned PhonePe has partnered with cab aggregator Ola that will allow riders to book rides using the former’s payment platform.

PhonePe has also added ‘Auto-pay’ feature that allows users to make payments seamlessly.

It will enable businesses to reach out with their services to a highly relevant and rapidly growing base of over 100 million PhonePe users.

PhonePe co-founder and CTO: Rahul Chari

Japan’s SoftBank to invest $60 bn to $100 bn in India’s solar power generation

SoftBank Group Corp has decided to invest $60 billion-$100 billion in solar power generation in India.

The company is expected to make the investment through a fund backed by Saudi Arabia’s government. Saudi Arabia is the largest investor in SoftBank’s Vision Fund, which raised over $93 billion last year.

India has set a target to achieve an operational solar power capacity of 100 GW by 2022.

5th Biggest Consumer Financial Services Company Worldwide:HDFC

The Housing finance major HDFC has been ranked as the 5th biggest public company globally in the ‘consumer financial services category’ on a list compiled by Forbes magazine.

American Express has topped this category, while Indiabulls Housing Finance is the only other Indian company (at 13th place) on the list. In the consumer financial services category, HDFC’s rank has moved up from 7th place last year.

Other consumer finance services companies that made it to the list include Capital One Financial at the 159 place, followed by Visa (164), Orix (254), PayPal (337), Synchrony Financial (340), Discover Financial Services (356), and Mastercard (367), among others.

Google Makes ‘App Maker’ Available to Users

Google has made “App Maker”, its low-code tool for building business apps, generally available and open to all developers, after a year and a half since the launch of its beta version.

Google first launched the App Maker in November, 2016 and made it available through its “Early Adopter Program for G Suite Business” at that time.

It was created with the idea of enabling line-of-business teams to create bigger apps, revamp company processes, resolve help desk tickets and more.

The App Maker is now available to all G Suite Business and Enterprise customers, as well as G Suite for Education customers.


Chhetri named StarPick’s Brand Ambassador

Indian football team captain Sunil Chhetri was named brand ambassador of online fantasy sports platform StarPick.

StarPick also announced the launch of the 2018 Football World Cup online platform, offering prizes worth Rs 20 crore. The platform will now engage with football fans to enable them to use their skills to build and own their teams on the platform and be a part of the excitement associated with the Football World Cup in Russia.

Whitson was the first woman to command the International Space Station, holding the position twice, and the oldest woman ever to fly in space.

StarPick Co-Founder & CEO: Trigam Mukherjee

S Sundari Nanda: First woman Director General of Police (DGP) of Puducherry

Puducherry will have its first woman Director General of Police (DGP) with S Sundari Nanda.

Sundari Nanda, a 1988 batch police office belonging to the AGMU cadre has been transferred from National Capital Territory of Delhi (NCTD) and posted as Director General of Police (DGP) of Union Territory of Puducherry.

The incumbent, S K Gautam, has been transferred and posted in the NCTD.

Kiran Bedi, the first woman IPS officer of the country, is the Lt Governor of the Puducherry Union Territory.

Puducherry Chief minister: V. Narayanasamy

Spacewoman Peggy Whitson Retires As Astronaut

NASA’s record-breaking astronaut Peggy Whitson, retired less than a year after returning from her last and longest spaceflight.

She’s spent more time off the planet than any other American: 665 days over three space station missions. She’s also the world’s most experienced female spacewalker, with 10 under her spacesuit belt.

Former World Bank Economist Omar al-Razzaz Sworn in as Jordan PM

Former World Bank Economist Omar al-Razzaz was sworn in as Jordan’s Prime Minister after King Abdullah issued a decree approving the new government.

Razzaz replaces Hani Mulki, a business-friendly politician who was dismissed to defuse public anger that triggered some of the largest popular protests in years.

The new PM is a former World bank economist and will now attempt to tackle tax reforms while trying to avoid similar nationwide protests that brought down his predecessor.


Capital: Amman

Currency: Jordanian dinar


Sanjita Chanu, Yuki Bhambri dropped from TOP Scheme

Tennis player Yuki Bhambri and weightlifter Sanjita Chanu dropped from the sports ministry’s flagship programme, Target Olympic Podium Scheme (TOPS), for different reasons.

Bhambri was left out as he will not take part in the Jakarta Asian Games in August-September as the dates clash with the US Open, where he is expected to qualify for the main draw.Sanjita was dropped following her suspension by the International Weightlifting Federation (IWF) on alleged doping charges.

The decisions were taken at the Mission Olympic Cell (MOC) meeting to clear funding proposals regarding training, competition and equipment needs.


Journalist Adiraju Venkateswara Rao Passes Away

The Veteran journalist and author Adiraju Venkateswara Rao has passed away.

He has worked for several Telugu and English dailies and news agencies including Andhra Jyothi, Udayam, Deccan Chronicle, Indian Express, Himachal Times and Hindustan Samachar at Hyderabad and Delhi.