Current Affairs – June 05, 2018

 

World Environment Day: 5 June

World Environment Day is the UN’s most important day for encouraging worldwide awareness and action for the protection of our environment. Since it began in 1974, it has grown to become a global platform for public outreach that is widely celebrated in over 100 countries. The focus on the host country helps to highlight the environmental challenges it faces and supports the effort to address them. This year’s host is India with the theme for 2018 is beating plastic pollution.

RBI launches Financial Literacy Week, focus on consumer protection

The Reserve Bank of India had launched Financial Literacy Week across the country with customer protection as its main theme. The event will focus on creating awareness among customers of banks about financial products and services, good financial practices and going digital, RBI Regional Director E E Karthak told. It will give out four consumer protection messages including ‘know your liability’ for unauthorized electronic banking transaction and good practices for a safe digital banking experience. Among various messages, customers will be told through banners and posters that in case of the unauthorized digital transaction if the bank is informed within 3 days, the liability of the account holder is zero.
Resolution of the complaint is to be done by the bank concerned within the period not exceeding 90 days from the date of receipt of the complaint. Besides, Karthak said, banks have been asked to also create awareness about Banking Ombudsman scheme of the RBI. Bankers, Financial Literacy Counsellors (FLCs) and other stakeholders will participate to create awareness. The Reserve Bank of India has since 2017 earmarked one week in a year as the financial literacy week. Last year, the focus was a promotion of digital transaction, Karthak said, adding that this year RBI is promoting digital transaction with focus on protection.

IDBI Bank MD & CEO becomes 4th RBI DG

The government on Monday appointed IDBI Bank MD and CEO Mahesh Kumar Jain as the fourth deputy governor of the RBI, sticking to the practice of designating a banker to the job. The appointment comes over 10 months after S S Mundra’s term ended last July.

Hyderabad to host international blockchain conference in August

Blockchain firm Nucleus Vision on 4th June said the first edition of the International Blockchain Conference will be held here on August 3 and 4.The conference is the first of many efforts to transform India into a global blockchain powerhouse, a press release issued by the company said. The meet is co-hosted by NITI Aayog, and governments of Telangana and Goa, it said.

Govt launches affordable sanitary napkins

The government today launched affordable biodegradable sanitary napkins, priced at Rs 2.50 per pad, to be sold under the Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP) across the country. Suvidha Oxo-biodegradable sanitary napkins would be retailed through more than 3,600 Jan Aushadhi stores in 33 states and UTs across the country.

India gets cheapest LNG as Russia’s Gazprom begins supplies

India on 4th June received cheapest LNG under a long-term deal as Russia began shipping natural gas at a delivered price of close to $7 per million British thermal unit. At current oil prices, the Russian rate is $1.5 per mmBtu less than the price at which Qatar, India’s oldest supplier, delivered liquefied natural gas (LNG). Russian supplies are also cheaper by $1-1.5 per mmBtu than the LNG sourced from Australia and the US.

Nepal proposes dates for BIMSTEC Summit

Nepal has come up with two dates for the fourth summit of the Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation. It said August 30 and 31 or September 6 and 7 have been proposed for the Kathmandu summit, Kathmandu Post reported. The newly appointed BIMSTEC General Secretary Shahidul Islam recently visited Nepal. BIMSTEC is an international organization of 7 nations of South Asia and South East Asia including Nepal, India, Bangladesh, Bhutan, Myanmar, Sri Lanka and Thailand. It was founded in 1997 and has its permanent secretariat in Dhaka.

Commonwealth Bank fined $700 mn for money-laundering, terror financing breaches

Australia’s Commonwealth Bank on Monday agreed to pay 700 million Australian dollars (USD 530 million) after admitting to breaches in anti-money laundering and counter-terrorism laws. The Australian government’s financial intelligence agency AUSTRAC last year had accused the bank of serious systemic breaches of the laws, news.com.au reported.

Sunil Chhetri’s brace earns India 3-0 victory over Kenya

In his 100th International match, skipper Sunil Chhetri scored a brace to lead India to a 3-0 win over Kenya in the second match of the Hero Intercontinental Cup, here on 4th June. Chhetri’s penalty strike in the 68th minute added extra time, along with Jeje Lalpekhlua’s 71st-minute strike enabled India to outmaneuver Kenya.

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