Current Affairs 27 June 2018

Current Affairs 27 June 2018

Current Affairs is an important part for many exams. Be prepared for this section with ByScoop which brings all the important Current Affairs in one place.

National and International

Cabinet Approvals on June 27, 2018

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President inaugurates ‘Udyam Sangam 2018’ to mark UN MSME Day in New Delhi

  • The President of India Ram Nath Kovind inaugurated the Udyam Sangam-2018 in New Delhi on International MSME Day 2018. 
  • Micro, Small and Medium-sized Enterprises (MSMEs) Day is celebrated each year on 27 June.
  • The President also launched the Solar Charkha Mission for artisans. The Solar Charkha Mission by MSME ministry will entail a subsidy of Rs 550 crore in the initial two years for 50 clusters and every cluster will employ 400 to 2000 artisans. 
  • A portal of the Ministry of MSME called ‘Sampark’ was also unveiled by the President. This portal will act as a bridge between the talent pool and those enterprises seeking trained human resources. 

26th RIMPAC Exercise starts in Hawaii

  • Biennial Rim of the Pacific (RIMPAC) maritime exercise scheduled from June 27 to Aug. 2, 2018 has started in and around the Hawaiian Islands and Southern California(USA).  RIMPAC 2018 is the 26th exercise in the series that began in 1971.
  • 26 countries including India have taken part in this exercise. INS Sahyadri(F-49) will represent India in the exercise. The exercise will see the participation of 47 surface ships.
  • The theme of RIMPAC 2018 is “Capable, Adaptive, Partners.”

Health cover assistance increased under Biju Swasthya Kalyan Yojana

  • Chief Minister of Odisha Naveen Patnaik has enhanced the health cover assistance for women to Rs 7 lakh from Rs 5 lakh under the ‘Biju Swasthya Kalyan Yojana’. The scheme will be launched from August 15, 2018.
  • Health cover assistance per family is Rs 5 lakh.
  • Eligibility:
    1. All BPL families
    2. Persons with annual family income not exceeding Rs 40,000 in rural areas and Rs 60,000 in urban areas
    3. Farmers’ families not filing IT return
    4. Families not having salaried members
Economy News

EPFO Members can now withdraw 75% of PF one month after job loss

  • Subscribers of the Employees’ Provident Fund can now withdraw up to three-fourth (75%) of the funds accumulated in their account after being without a job for 30 days. Currently, in the case of unemployment, a subscriber can withdraw his or her funds after two months and close the account.
  • The remaining 25% can be withdrawn after 2 months of being unemployed, and if withdrawn the PF account will be closed.
  • The EPFO is under the administrative control of Ministry of Labour and Employment. The Central Board of Trustees (CBT) is a statutory body constituted by the Central government, and responsible for administering the Employees’ Provident Funds.  The Board operates three schemes – EPF Scheme 1952, Pension Scheme 1995 (EPS) and Insurance Scheme 1976 (EDLI).
  • Central Board of Trustees. Santosh Kumar Gangwar is the chairman of CBT.

Exim Bank extends $10 mn loan facility to Seychelles

  • The Export-Import Bank of India (Exim Bank) has extended $10 million worth of line of credit (LOC) to Seychelles for healthcare and procurement of goods and projects.
  • The LOC is the first tranche of the $50 million sanctioned by the Exim Bank to Seychelles. With this agreement for $10 million, Exim Bank, till date, has extended two LOCs to Seychelles, taking the total value to $28 million.
  • Earlier this week, the bank had extended two LOCs aggregating $31 million to the Republic of Suriname for upgradation of transmission line network and maintenance of Chetak helicopters.
  • Exim Bank has 233 LOCs in place at present, covering 62 countries. 

Financial Stability Report June 2018 released by RBI

  • Reserve Bank of India has released the 17th edition of its biannual Financial Stability Report for June 2018.
  • As per the report PSBs accounted for a staggering 85 per cent of nearly 6,500 fraud cases, amounting to more than Rs 30,000 crore.

India increases grants to $15 million to handle global environment crises

  • India has announced it will increase for the next four years the money it pays to the Global Environment Facility (GEF), a mechanism to provide grants for environmental projects from $12 million to $15 million.
  • India’s representative to GEF Council Aparna Subramani made the announcement at its meeting in Vietnam. 
  • India has decided to increase its commitments from $12 million to $15 million to the GEF’s new four-year investment cycle, known as GEF-7.

Cabinet approves capital infusion of Rs.2000 crore in ECGC

  • The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi has approved the capital infusion of Rs.2000 crore for strengthening of  Export Credit Guarantee Corporation (ECGC). 
  • The amount would be infused in the three financial years i.e. Rs.50 crore in 2017-18, Rs.1450 crore in the year 2018-19 and Rs.500 crore for 2019-20.

Telangana police receives MEA award for speedy passport verification

  • Telangana police recieved award for speedy passport verification in the state on the occasion of passport Seva Diwas. The award was presented by Ministry of external affairs. Telangana State police is completing the whole process of verification using ‘Veri fast’ application in just 4 days.
  • Telangana is followed by Andhra Pradesh and Haryana at second and third spot respectively in terms of speedy passport verification.

S Ramesh appointed chairman of CBIC

  • Senior bureaucrat S Ramesh has been appointed as chairman of the Central Board of Indirect Taxes and Customs (CBIC), the apex policy-making body for indirect taxes.
  • He will succeed Vanaja N Sarna, who superannuates on June 30.
Conference and Summits

Suresh Prabhu chairs India-Australia Joint Ministerial Commission in Canberra

  • The 15th India-Australia Joint Ministerial Commission (JMC) was held on 25thJune 2018, in Canberra, Australia.
  • The meeting was jointly chaired by Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu and Australian Minister for Trade, Tourism and Investment Steven Ciobo.

The 4th annual meeting of the AIIB will take place in Luxembourg in 2019

  • The fourth annual meeting of the AIIB will take place in Luxembourg in 2019. Luxembourg is first non-regional member of the AIIB to host the bank’s annual meeting.
  • The Asian Infrastructure Investment Bank’s (AIIB) Board of Governors has approved a new membership application from the Republic of Lebanon, bringing AIIB’s total approved membership to 87. 

Aviva India launches AI-powered chatbot ALISHA

  • Aviva Life Insurance has launched a chatbot named “ALISHA” in partnership with Findability Sciences — a cognitive and artificial intelligence (AI) solutions company.
  • ALISHA stands for Aviva Life Insurance Self Help Assistant.

June 27- Micro, Small and Medium-sized Enterprises (MSMEs) Day

  • June 27, 2018- Micro, Small and Medium-sized Enterprises (MSMEs) Day
  • Theme 2018: The Youth Dimension.
  • MSME Day was first observed in 2017.

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