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Daily GK Update : 7th June 2017

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National & International Appointment

1. ‘Sher Bahadur Deuba’ takes over as Prime Minister of Nepal

  • The veteran Nepali Congress President 'Sher Bahadur Deuba' (70-year) has taken the oath of the prime minister (40th) of Himalayan country Nepal.
  • President 'Bidya Devi Bhandari' administered the oath of office & secrecy to Mr. Deuba and Seven other ministers including threeDeputy Prime Ministers at Rashtrapati Bhawan in Kathmandu.
  • Deuba has also served as Prime Minister of Nepal from 1995 to 1997, from 2001 to 2002, and from 2004 to 2005.
  • Earlier, CPN (Maoist Centre) Chief Pushpa Kamal Dahal had resigned as prime minister of Nepal on 24th May 2017 as per the power-sharing understanding with the coalition partner Nepali Congress.

International Affairs

2. Montenegro becomes NATO’s 29th member

  • Montenegro has officially joined North Atlantic Treaty Organization(NATO) and become the 29th member country.
  • Earlier, Montenegro Foreign Minister ‘Srdjan Darmanovic’ submitted the official accession papers in a ceremony at the US State Department.
  • According to NATO Secretary-General Jens Stoltenberg, the alliance will benefit from Montenegro’s insight into the Balkans.

3. India signs agreement to provide Sri Lanka with USD 318 million for Railway

  • India has signed an agreement with Sri Lanka to provide fresh assistance of 318 million US Dollar credit line for the development of the railway sector in the country.
  • India has already provided four Lines of Credit for the development of railway in Sri Lanka through its EXIM bank amounting around USD 966 million.
  • These credit facilities have been utilized to improve the Southern and Northern railway lines and for the procurement of rolling stocks for the Sri Lanka Railways.

Banking & Finance

4. RBI second Bi-monthly Policy 2017-18

  • Today, The Reserve Bank of India (RBI) has announced its second Bi- monthly Monetary Policy Rates for 2017-18 in Mumbai.
  • The Bi-monthly policy has been released based on the assessment of the Monetary Policy Committee of the Reserve Bank of India (RBI).
  • Repo rate under the liquidity adjustment facility (LAF) remains unchanged at 6.25 per cent.
  • The reverse repo rate under the LAF remains at 6.0 per cent.
  • The marginal standing facility (MSF) rate and the Bank Rate at 6.50 per cent.
  • Cash Reserve Ratio (CRR) remains unchanged at 4%.
  • As per RBI's report, the decision of the Monetary Policy Committee (MPC) is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4 per cent within a band of +/- 2 percent, while supporting growth.

5. CAG will audit Goods and Services Tax Network: Jaitley

  • According to the Finance Minister Arun Jaitley, Comptroller and Auditor General (CAG) of India will audit the Goods and Services Tax Network (GSTN).
  • GSTN is a company that provides technology backbone for the Goods and Services Tax (GST).
  • In the GSTN, the central and the state governments will together own 49 % of the equity and the rest would be with some very responsible bodies like LIC Housing, National Stock Exchange, and HDFC Bank.
Note:
  • The CEO of the GSTN will be appointed by the government and every decision would be with a positive vote of the government thereby giving a veto to it also the majority on the board will be government appointees.
  • The Union Govt. has decided to roll out the new Indirect Tax regime from 1st of July 2017.

6. SBI to organize farmers' meet to understand their credit need

  • State Bank of India (SBI) will meet nearly 10,000 farmers to understand their credit needs, ahead of the Kharif season.
  • The meeting will be organized at the bank's 15,500 rural and semi-urban branches across the country.
  • The branches will accept applications for fresh loans as well as for renewal or enhancement of existing loan.

National Affairs

7. EPFO extends deadline for submitting Aadhaar number to 30th June

  • Employees' Provident Fund Organisation (EPFO) has extended the deadline for submitting Aadhaar number to 30th June for its members.
  • However, the deadline for submission of Aadhaar number will be 30th of September in the case of north-east States.
  • EPFO has directed its field offices to ensure that Aadhaar Number is furnished by the employer in respect of all new members with effect from 1st of July, (except northeast states 1st October 2017).
  • In January, the EPFO had made it mandatory for its pensioners and subscribers to submit Aadhaar numbers.

8. Over 1.17 crore people trained under Skill India programs: Rudy

  • According to the Minister of Skill Development and EntrepreneurshipRajiv Pratap Rudy, over 1.17 crore people have been trained underSkill India programs and allocated Rs. 10,000 crores to the Scheme.
  • Ministry is collaborating with Indian Army to meet the shortage of trainers for short term skill.
  • The Minister informed that National Apprenticeship Promotion Scheme (NAPS) has given apprenticeship training to 5.9 lakhspeople.
  • The existing ITI Ecosystem across the nation has been re-energised and self-rating of ITIs has begun.
  • ITI students will get academic equivalence for upward mobility.

9. Health Minister launches 'Skills for Life, Save a Life' initiative

  • The union Health Minister ‘J P Nadda’ has launched ‘Skill for Life, Save a Life’ initiative to promote skill development in the health sector in New Delhi.
  • The initiative aims to upscale the quality and quantity of trained professionals in the healthcare system.
  • Various courses are planned in specific competencies for healthcare professionals as well as for the general public.

10. Govt. to appoint ‘Nyaya Mitras’ to expedite pending cases

  • The union govt. will appoint ‘Nyaya Mitras’ across the country to expedite the cases pending for last 10 years in lower courts.
  • According to the union law and Information Technology Minister ‘Ravi Shankar Prasad’, the retired judges will be appointed as ‘Nyaya Mitras’ to expedite over seven lakhs fifty thousand cases pending across the country.
  • ‘Nayaya Mitra’ scheme would be functionalised through retired judges who will be designated as the ‘Nyaya Mitras’.
  • Their responsibilities will include offering assistance to litigants who are suffering due to delay in trial.
  • The number of Common Service Centers has been increased to two lakhs fifty thousand across the country and they are providing 300 kinds of services to the common people.
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