DAILY CURRENT AFFAIRS: 16TH JUNE 2017

DAILY CURRENT AFFAIRS: 16^TH JUNE 2017

(DAILY NEWS INDIA)

SHARED BY: WWW.DAILYGK.IN

1. NALANDA UNIVARSITY TO COLLABORATE WITH SOUTH KOREAN INSTITUTE

i. The Nalanda University has signed a Memorandum of Understanding with South Korea’s Academy of Korean Studies for academic cooperation.

ii. According to the university officials, Nalanda University Vice Chancellor Professor Sunaina Singh and Professor Shin Jong Won, Vice President Academy of Korean Studies has signed a Memorandum of Understanding for academic linkages and collaborations in Patna.

iii. As per the MoU the two universities have agreed to enhance the bilateral ties through joint research programme. The MoU will be in effect for five years.

iv. They will exchange of faculty members, mutual sharing of data for academic research, joint teaching, undertake joint research projects and symposiums.

2. INDIA 60TH MOST INNOVATIVE GLOBALLY, CHINA AT 22ND – GLOBAL INNOVATION INDEX 2017

i. India has ranked 60th on the Global Innovation Index 2017. The index has been co-authored by Cornell University, INSEAD and World Intellectual Property Organization.

ii. Global Innovation Index 2017 Top 5 countries are: Switzerland is at 1st position, Sweden is at 2nd, Netherlands is at 3rd followed by United States of America and United Kingdom is at 4th and 5th.

3. RBI PLACES RESTRICTIONS ON BANKING ACTIVITIES OF CENTRAL BANK OF INDIA

i. The Reserve Bank of India has placed Central Bank of India under prompt corrective action. It puts restricts on banking activities such as from lending, hiring and expanding branches.

ii. RBI has triggered PCAs for 4 banks – IDBI Bank, Dena Bank, UCO Bank and Indian Overseas Bank.

iii. The RBI has mentioned that the PCA has been triggered in view of negative return on assets and high ratio of bad loans.  The PCA is triggered so that it allows the regulator to engage closely with the bank’s management in order to improve their financial health.

iv. The PCA was initiated on the Central Bank of India has reported losses for 2 consecutive years.

v. The CBI had negative return on assets and its share of bad loans has crossed 6%. Central Bank has reported loss of Rs 2439 cr for fiscal year 2016-17 against losses of Rs 1418 cr a year ago

4. AIIB GRANTS USD 150 MN LOAN FOR INDIA INFRASTRUCTURE FUND

i. The Board of Directors of the Asian Infrastructure Investment Bank has approved USD 150 million equity investment to the India Infrastructure Fund.

ii. The meeting was held in Jeju in South Korea. The Infrastructure Fund aims to invest in mid-cap infrastructure companies in India.

iii. This initiative will benefit local infrastructure development by enhancing private capital inflows from global long-term investors, such as public pension funds, endowments and insurance companies

iv. AIIB also approved loans to support transport and power projects in Georgia and Tajikistan.

v. The Bank and will enhance the potential to source and fund high quality, private sector projects.

vi. The bank has granted USD 60 million loan for the Tajikistan Nurek Hydropower Rehabilitation Project Phase I, co-financed with the World Bank

5. IOC, BPCL, HPCL SIGN AGREEMENT TO SET UP $40 BILLION REFINERY IN MAHARASHTRA

i. Public sector oil firms IOC, HPCL and BPCL signed an agreement to jointly set up the world’s largest refinery and petrochemical complex at Ratnagiri district of Maharashtra. The total cost for setting up this refinery is estimated to be $40 billion.

ii. Indian Oil Corp will be the lead partner with 50% stake while Hindustan Petroleum Corp Ltd and Bharat Petroleum Corp Ltd will take 25% stake.

6. ISRAEL’S DAVID GROSSMAN WINS MAN BOOKER PRIZE FOR ‘A HORSE WALKS INTO A BAR

i. Israeli author David Grossman has won the Man Booker International Prize for his novel “A Horse Walks Into a Bar.”

ii. The award was announced on June 14 in London. The prize was previously a career honour but changed last year to recognise a single book in a bid to increase the profile of international fiction in English-speaking countries.

7. TCS EXECUTIVE RAMANATHAN RAMANAN TO HEAD ATAL MISSION UNDER NITI AAYOG

i. Under the NITI Aayog Ramanathan Ramanan has appointed as the Mission Director of the Atal Innovation Mission.

ii. Ramanan is presently working with the Tata Consultancy Services. He has been appointed to the post “without pay and allowances” but with the provision of entitlement for government accommodation at New Delhi and all other official expenses including travel.

iii. The Appointments Committee of the Cabinet has approved his appointment in the rank of Additional Secretary to Government of India.

OBJECTIVE QUESTIONS BASED ON TODAY’S NEWS

Q1. THE NALANDA UNIVERSITY HAS SIGNED A MEMORANDUM OF UNDERSTANDING WITH AN INSTITUTE FROM WHICH COUNTRY FOR ACADEMIC COOPERATION?

a)  South Korea

b)  Germany

c)  Japan

d)  UK

Q2. INDIA HAS RANKED _______ ON THE GLOBAL INNOVATION INDEX 2017?

a)  30th

b)  40th

c)  20th

d)  60th

Q3. WHICH AMONG THE FOLLOWING ORGANIZATION HAS APPROVED $150 MILLION EQUITY INVESTMENT LOAN TO THE INDIA INFRASTRUCTURE FUND?

a)  Asian Development Bank

b)  Asian Infrastructure Investment Bank

c)  World Bank

d)  New Development Bank

Q4. ISRAELI AUTHOR DAVID GROSSMAN HAS WON THE MAN BOOKER INTERNATIONAL PRIZE FOR HIS NOVEL?

a)  `A Lion Walks Into a Bar’

b)  `A Tiger Walks Into a Bar’

c)  `A Horse Walks Into a Bar’

d)  `A Bull Walks Into a Bar’

Q5. RAMANATHAN RAMANAN, WHO HAS BEEN APPOINTED AS MISSION DIRECTOR OF ATAL INNOVATION MISSION, UNDER THE GOVERNMENT’S PREMIER THINK TANK NITI AAYOG IS A SENIOR VICE PRESIDENT AT?

a)  Tech Mahindra

b)  Infosys

c)  Wipro

d)  Tata Consultancy Services

ANSWERS: 

1 - A    2 - D    3 - B    4 - C    5 - D