Current Affairs – June 10-11, 2018

June 11 2018 - Current Affairs – June 10-11, 2018

India, China ink 2 MoUs on sharing of Brahmaputra river data and supply of non-Basmati rice

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In a significant move, China today agreed to provide India hydrological data of the Brahmaputra River in flood season, months after Beijing stopped the practice, crucial to predicting floods. The two countries also signed an agreement under which China has agreed to import non-Basmati rice from India which is likely to bridge the ballooning trade deficit to a certain extent.

 

Delhi most vulnerable UT in India’s first disaster risk index, Maharashtra leads states

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A national disaster risk index mapping hazards and vulnerabilities across 640 districts puts Maharashtra at the top of the chart followed by West Bengal, Uttar Pradesh, and Madhya Pradesh, while Delhi is most at risk among Union territories (UTs). The index is currently in the form of a draft report prepared by the Union home ministry with support from the United Nations Development Programme (UNDP). From 2005 to 2014, at least 167 disasters struck India, inflicting damages of more than $47 billion, ranking India among the top four countries in the world with the highest number of reported disasters, according to the UN Office for Disaster Risk Reduction.

 

In 2017, India moved to top 10 FDI-hosting economies

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India has moved up a notch to enter the top 10 foreign direct investment (FDI) host economies in 2017 despite the challenging condition of global FDI flows. According to the World Investment Report 2018 of UNCTAD, global flows of foreign direct investment fell by 23% in 2017, largely due to contraction across developed economies. Foreign Direct Investment to India decreased to 40 billion dollars last year from 44 billion dollars in 2016 while outflows from India, the main source of investment in South Asia, more than doubled, according to a new trade report by the UN.

 

PSU banks suffer whopping Rs 87,000 crore loss in FY18

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Of the 21 state-owned banks, only two banks, Indian Bank and Vijaya Bank, posted profits during 2017-18. Indian Bank posted the highest profit of Rs 1,258.99 crore and Vijaya Bank’s profit was Rs 727.02 crore in the fiscal. So, the net loss posted by state-owned banks was about Rs 85,370 crore in 2017-18 as against a net profit of Rs 473.72 crore in the previous fiscal. The 19 government-run banks collectively posted a net loss of Rs 87,357 crore during the fiscal, according to the latest quarterly numbers posted by these lenders. India’s largest bank State Bank of India too added hugely to the combined losses of PSBs. SBI’s net loss in 2017-18 stood at Rs 6,547.45 crore as against a net profit of Rs 10,484.1 crore in 2016-17.

 

Ex-NIA chief Sharad Kumar appointed vigilance commissioner in CVC

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Former NIA chief Sharad Kumar was on Sunday appointed vigilance commissioner in the probity watchdog CVC, officials said. The 62-year-old Kumar, a 1979-batch IPS officer of the Haryana cadre, retired in September last year after heading the National Investigation Agency, an anti-terror probe organization, for over four years. According to an official order, Kumar has been appointed vigilance commissioner in the Central Vigilance Commission for a term of 4 years or until he attains the age of 65 years.

 

Arvind Saxena appointed acting UPSC Chairman

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UPSC member Arvind Saxena has been appointed as the acting chairman of the commission from June 20, a government order said. Saxena, a 1978-batch Indian Postal Service officer, will take over the charge from incumbent Vinay Mittal who completes his term at the Union Public Service Commission (UPSC) on June 19. The latest government order said Saxena will “perform the duties of the post of Chairman, UPSC” with effect from June 20 till further orders or till completion of his tenure on August 7, 2020.

 

At Rs 18.5 lakh crore, cash with the public at the record high

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Currency with the public has reached a record high of over Rs 18.5 lakh crore, more than double the low of Rs 7.8 lakh crore it had hit after demonetization in late 2016, as per RBI data. The total currency put in circulation by the Reserve Bank has also more than doubled to over Rs 19.3 lakh crore — from a low of about Rs 8.9 lakh crore post-demonetization. As a percentage of GDP, however, the proportion remains much lower than the pre-demonetisation level. Currency with the public is arrived at after deducting cash with banks from total currency in circulation.

Equity mutual funds log Rs 24,479-cr inflow in Apr-May

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Investors pumped in a staggering Rs 24,479 crore in equity mutual funds in April-May 2018 due to increased cognizance about market volatility and a spirited awareness campaign by the industry. The inflows follow an investment of over Rs 1.71 lakh crore in such funds in 2017-18, according to the data from the Association of Mutual Funds in India (Amfi). The strong inflow pushed the asset base of equity mutual funds (MFs) by more than 6 percent to Rs 8 trillion by May-end from Rs 7.5 trillion at end-March. Equity and equity-linked saving schemes saw an inflow of Rs 12,409 crore in April and another Rs 12,070 crore in May, taking the total to Rs 24,479 crore in the current fiscal.

 

Intercontinental Cup: Chhetri double gives India 2-0 win, title

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Showmanship in Indian football has a name – Sunil Chhetri. Off the field, he appeals to fans to “come to the stadium and abuse us on our faces”, and then on the field, he puts on one of the most magnificent shows. He did it during his 100th match against Kenya, and on 10th June, in the final of Intercontinental Cup against the same opponents at the Mumbai Football Arena, he did the same.

 

Rafael Nadal claims record-extending 11th French Open title

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In the final, played under heavy skies, punctuated by thunderous shot-making and stunning use of the court, the 32-year-old Spaniard triumphed 6-4, 6-3, 6-2 against first-time finalist Dominic Thiem. “This is unbelievable, it’s not even a dream. Nobody dreams of winning 11 titles,” Nadal, who turned to his team, raising his arms in celebration, after the 2 hour-42-minute French Open final, said. “I’m very happy to have won, especially after I suffered from cramps in the third set. That happens in a match where you are pushed like I was today.”

 

Sebastian Vettel claims the 50th win and goes top in a title race

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Sebastian Vettel claimed the 50th win of his career and reclaimed the lead of this year’s world championship on 10th June when he ended Lewis Hamilton’s run of supremacy at the Canadian Grand Prix. The four-time champion German drove his Ferrari with near flawless aplomb to convert his 54th pole position into a triumphant afternoon ahead of Finn Valtteri Bottas of Mercedes and determined Dutchman Max Verstappen, who was third for Red Bull.

 

Bangladesh shock India to win Asia Cup final Twenty20 in Kuala Lumpur

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Bangladesh’s women stunned India to win the Asia Cup Twenty20 for the first time – and inflict a first defeat in the final on their opponents. India, winners of all six previous tournaments, were restricted to 112-9, captain Harmanpreet Kaur making 56. Bangladesh needed nine off the final over and, despite losing two wickets, Jahanara Alam hit two off the last ball to secure a thrilling win.

 

Simona Halep beats Sloane Stephens for French Open and her first Grand Slam title

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Simona Halep finally got the major breakthrough that she had been waiting for American Sloane Stephens, however, didn’t make it easy. Halep added Grand Slam trophy No. 1 to her No. 1 ranking, coming back from a set and a break down to beat Stephens 3-6, 6-4, 6-1 Saturday and win the French Open championship in a match made up of lengthy points and key momentum swings.

 

Learn Two a Day:
Neora Valley National Park: West Bengal
Binsar Wildlife Sanctuary: Uttarakhand

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