Current Affairs – June 17-18, 2018

President Kovind arrives in Greece

President Ram Nath Kovind and his wife Savita Kovind arrived in Athens’s Greece city on 16th June, kick-starting their 3-nation visit. As part of the nine-day tour, President Kovind will first visit Athens, where he will meet Greek President Prokopis Pavlopoulos and other senior members of the Government. Thereafter, President Kovind is scheduled to leave for Suriname and then Cuba.
Greece Capital: Athens
Currency: Euro

 

US pips India as top greenfield FDI investment destination: Report

The US has surpassed India to become the top destination for greenfield FDI investment in 2017. The number of greenfield FDI projects in India during the year fell sharply by 21 percent to 637, said the FDI Report 2018 compiled by FDI Intelligence, a division of The Financial Times Ltd. India had maintained the numero uno slot in greenfield FDI investment in 2015 and 2016. However, in 2017, the US reclaimed the spot from India, recording $87.4 billion of foreign direct investment (FDI). In the Asia-Pacific region, China was on top in terms of FDI in a total number of new projects and capital investment, followed by India.

 

Meghana Shanbough becomes first woman fighter pilot from South

Overwhelmed and humbled at the same time, 24-year-old Meghana Shanbough, who graduated to become the first woman fighter pilot from Karnataka was at loss of words to describe how she was feeling. Shanbough is the 6th woman fighter pilot in the country to be inducted into the Indian Air Force.

 

BBB recommends 22 GMs for elevation as executive directors at PSU banks

Banks Board Bureau (BBB), the advisory body formed by the government for selection of candidates for top-level board appointment, has recommended 22 general managers to be elevated as executive directors at the various public sector banks. This is the first major exercise undertaken by the BBB, headed by newly appointed chairman B P Sharma. The Appointments Committee of Cabinet headed by Prime Minister will take the final decision in this regard.

 

First IOB Plus branch opened in New Delhi

The Indian Overseas Bank (IOB) this week launched the first IOB Plus branch in New Delhi, with the new series of branches to have a specific focus on customer services and digital banking.
MD & CEO: R Subramaniakumar
Headquarters: Chennai
Tagline: Good people to grow with

 

IT Dept detects Rs.10,767Cr undisclosed income during fiscal 2017-18

The Income Tax Department has detected undisclosed income of over Rs. 10,000 crores in fiscal 2017-18, up from that of Rs 9051 crore detected in FY 2016-17.

 

Manipur Governor donates a day’s salary for flood victims

Manipur Governor Najma Heptulla has announced that she has donated a day’s salary to the Governor Relief Fund to help flood victims. The governor said Raj Bhavan staff also donated a day’s salary to the relief fund. She also made an appeal to the people to help the flood-affected people.

 

Swaraj to embark on a 4-nation visit on June 17

External Affairs Minister Sushma Swaraj will embark on a four-nation visit to Italy, France, Luxembourg, and Brussels from June 17-23. The Italy visit, scheduled for June 17 and 18, will be the first major political exchange between India and Italy following the swearing-in of Giuseppe Conte as Italy’s new Prime Minister.

 

India proposes retaliatory tariffs on 30 US products

India has decided to suspend concessions on 30 products originating from the US. Customs duty on motorcycles with engine capacity over 800 cc will be raised up to 50%, almonds 20%, walnuts 20% and apples 25%. This came as retaliation to Washington’s move to impose higher duties on Indian steel and aluminum exports.

 

The US announces tariffs on $50bn in Chinese imports

The Trump administration has announced a 25 percent tariff on up to 50 billion dollars worth of Chinese imports, escalating a trade tiff with China. On May 31, the US had announced an imposition of 25 and 10 percent tariffs on steel and aluminum respectively on three of its biggest trading partners – Canada, Mexico and the European Union (EU).

 

Roger Federer returns to No.1 ranking with the 98th title in Stuttgart

Roger Federer celebrated returning to the top of the world rankings by defeating Milos Raonic in the final of the Stuttgart Open on 17th June and lifting the 98th tour-level title of his garlanded career.

 

World Day to Combat Desertification: 17th June

The World Day to Combat Desertification (WDCD) will be celebrated worldwide on 17 June with the focus on sustainable land management as a way to regenerate economies, create jobs and revitalize communities. Under the slogan “Land has true value – Invest in it,” WDCD2018 will call all involved – producers, consumers and policymakers – to make a difference by investing in the future of the land. The WDCD2018 global observance will be hosted by the Government of Ecuador.

 

Learn Two a Day:

Public Credit Registry (PCR) keeps extensive database of credit information that is accessible to all stakeholders
Provision Coverage Ratio (PCR) is a measure of the funds set aside by banks to cover bad loans

 

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