DAILY CURRENT AFFAIRS: 07 JULY 2017

DAILY CURRENT AFFAIRS: 07 JULY 2017

(DAILY NEWS INDIA)

SHARED BY: WWW.DAILYGK.IN

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