DAILY CURRENT
AFFAIRS: 07 JULY 2017
(DAILY NEWS INDIA)
1.
J&K ASSEMBLY PASSES GST RESOLUTION FOR IMPLEMENTATION
i. The Jammu and Kashmir Legislative
Assembly has become the last state to adopt the Goods and Services Tax
resolution during a special session on 5th of July.
ii. The resolution moved by state
Finance Minister Haseeb Drabu and was adopted through a presidential order.
With this, all the states have implemented the Goods and Services Tax.
iii. The amendment to the Constitution
last year enabled the Centre to roll out the new tax regime across the country.
State BJP chief Sat Sharma said that the revenues of Jammu and Kashmir would go
up by Rs 10,000 cr annually after the implementation,
iv. It would also safeguard the special
taxation powers enjoyed by the state under Article 370 of the Constitution.
2. PRIME
MINISTER NARENDRA MODI’S VISIT TO ISRAEL: OVERVIEW
i. PM Narendra Modi was on an official
visit to Israel. It was the 1st ever visit of an incumbent Indian prime
minister.
ii. Commemorating PM Narendra Modi’s
visit, Danziger Flower Farm named the flower Crysanthumun as ‘Modi’, on the
name of Prime Minister. PM Narendra Modi gifted his Israeli counterpart
Benjamin Netanyahu replicas of two sets of relics from Kerala, regarded as key
artefacts of the long Jewish history in India.
iii. Mahindra Telephonics and Israeli
firm Shachaf Engineering signed a MoU to collaborate on design, development and
manufacture of strategic electronics for military use. India, Israel sign 7
agreements, to cooperate in fight against terror.
iv. Narendra Modi announced to start a
new flight service connecting Delhi, Mumbai and Tel Aviv and invited youth of
Israel to visit India.
v. PM Narendra Modi has announced the
setting up of an Indian Cultural Centre in Israel.
3. SREI,
RUSSIAN DEVELOPMENT BANK TO CREATE $200 MN INNOVATION FUND
i. Kolkata-headquartered SREI
Infrastructure Finance has signed an MoU with Russia’s Vnesheconom bank on to create a $200 million IT and Innovation
Fund.
ii. The MoU was signed last month at
the St. Petersburg International Economic Forum in the presence of PM Narendra
Modi and Russian President Vladimir Putin. This MoU provides for a credit line
of $500 million to SREI.
iii. The fund will promote Indo-Russian
cooperation in IT technologies and innovation in both countries.
4. INDUS
OS, YES BANK TO LAUNCH OS-INTEGRATED UPI PAYMENT PLATFORM
i. Indus OS has announced a partnership
with YES BANK to launch the 1st OS integrated UPI payment platform.
ii. Both the companies intend to launch
the first of its kind framework for the UPI platform, which does not require
users to download any additional applications.
iii. Their main aim is to further drive
up the existing growth rate of UPI-based transactions. The OS-integrated UPI
payment platform built by allowing more deep and contextual integration with
the smartphone experience.
iv. Third party applications can also
use the framework to make payments through UPI. The framework allows users to
transfer money conveniently through a chat interface.
5. SOUTH
INDIAN BANK TIES UP WITH PFG FOREX
i. South Indian Bank has tied up with
PFG Forex for remittance facility for the benefit of Indian expatriates from
Australia.
ii. Under this arrangement, NRIs can
enjoy cost-effective and fast remittance services using SIB’s Express facility.
NRIs can visit the PFG Forex outlets across Australia for remittances to India.
iii. SIB is already having
correspondent banking arrangement with National Australia Bank and Fly World
Money Exchange for remittances to India. The new facility will leverage the
bank to reach the Indian diaspora.
iv. Recently SIB’s international
banking division has been awarded the ISO 9001: 2015 certification for Quality
Management Systems. The certification was awarded for implementing systems and
procedures as per the standards laid down by the International Organization for
Standardization.
6. SIEMENS
OPENS ITS 1ST DIGITAL FACTORY IN INDIA
i. Siemens has opened its 1st digital
factory in India. It is also the 3rd globally after one each in Germany and
China.
ii. It is as the industrial
conglomerate pitches smart facilities to small and medium scale enterprises in
the country. Digital factory is one of the nine divisions at Siemens.
iii. It aims to provide a comprehensive
portfolio of hard ware and software products which enable comprehensive
integration of data from development, production and suppliers.
7. KEWAL
HANDA APPOINTED AS NON-EXECUTIVE CHAIRMAN OF UNION BANK
i. Kewal Handa was appointed as
non-executive chairman of Union Bank of India.
ii. The Appointments Committee of the
Cabinet has approved Handa’s appointment as non-official director/non-executive
chairman of the bank.
iii. An order was issued by the
Department of Personnel and Training and Handa will hold the post for a period
of three years. Managing Director & CEO of Union Bank of India Shri
Rajkiran Rai G.
8.
PAKISTAN SUCCESSFULLY TEST FIRES SHORT-RANGE BALLISTIC MISSILE NASR
i. Pakistan has successfully undertaken
a series of training launches and tests
during the current week for validation of new technical parameters of
‘Nasr’ which is a short-range surface-to-surface ballistic missile system . The
launch took place in Rawalpindi. This missile system ranges from 60 km to 70 km
.
ii. ‘NASR is a high precision weapon
system with the ability to be deployed quickly. Chief of Army Staff General
Qamar Javed Bajwa witnessed the launch.
iii. Cold Start is a military system
developed by the Indian Armed Forces for use in a likely war with Pakistan. It
will allow the Army to quickly seize Pakistani territory or can damage
Pakistani defence posts.
9. INDIA
96TH IN FIFA WORLD RANKING, ITS BEST IN 21 YEARS
i. India has moved 4 places up to the
96th position in the FIFA World ranking. This is the country’s 2nd best ranking
and its previous best was the 94th position in February 1996.
ii. India, which had been ranked 100th
in the previous list has won two matches since the last list was published.
iii. India has moved 77 positions up
from the 173rd rank on March 2015. The Indian football team had beaten Nepal
2-0 in an international friendly on 6th June at the Andheri Sports Complex in
Mumbai.
OBJECTIVE QUESTIONS BASED
ON TODAY’S NEWS
Q1. INDIA
HAS RAKED AT WHICH POSITION ON LATEST FIFA WORLD RANKING RELEASED ON 6TH OF
JULY?
a)
96th
b)
81st
c)
101st
d)
86th
Q2. WHICH
AMONG THE FOLLOWING HAS BECOME THE LAST STATE TO ADOPT THE GOODS AND SERVICES
TAX RESOLUTION DURING A SPECIAL SESSION ON JULY 5?
a)
Kerala
b)
Jammu and Kashmir
c)
Assam
d)
West Bengal
Q3.
‘CRYSANTHUMUN’, A NEW FAST-GROWING ISRAELI FLOWER HAS BEEN NAMED AFTER WHICH
LEADER?
a)
Russia President Vladimir Putin
b)
US President Donald Trump
c)
Indian Prime Minister Narendra Modi
d)
German Chancellor Angela Merkel
Q4. WHICH
INDIAN COMPANY HAS SIGNED A MOU WITH RUSSIA’S VNESHECONOM BANK TO CREATE A $200 MILLION IT AND INNOVATION FUND?
a)
Bajaj Finance
b)
Reliance Capital
c)
Tata Consultancy Services
d)
SREI Infrastructure Finance
Q5. WHICH
PRIVATE SECTOR BANK HAS TIED UP WITH PFG FOREX FOR REMITTANCE FACILITY FOR THE
BENEFIT OF INDIAN EXPATRIATES FROM AUSTRALIA?
a)
South Indian Bank
b)
Catholic Syrian Bank
c)
Bandhan Bank
d)
Federal Bank
ANSWERS:
1 - A 2 - B 3 - C 4 - D 5 - A
