Current Affairs – July 06, 2018

Bhutanese PM Tshering Tobgay is on a 3-day visit to India

Prime Minister of Bhutan, Dasho Tshering Tobgay, will on 5th July arrived in New Delhi on a three-day visit to India. During his visit, Prime Minister of Bhutan will call on President Ram Nath Kovind and hold talks with PM Narendra Modi. External Affairs Minister Sushma Swaraj and other ministers will call on the Prime Minister of Bhutan. According to a Ministry of External Affairs (MEA) release, India and Bhutan enjoy unique ties of friendship and cooperation, which are characterized by the utmost trust and mutual understanding.
Capital: Thimphu
Currencies: Indian rupee, Bhutanese ngultrum


YES BANK receives SEBI approval to launch Mutual Fund business

YES BANK, India’s fourth largest private sector bank, has announced that it has received the final regulatory approval (Certificate of Registration) from the Securities & Exchange Board of India (SEBI) to commence its ‘Mutual Fund’ (MF) business. This approval is subsequent to the Reserve Bank of India (RBI) approval granted to YES BANK to sponsor a Mutual Fund followed by SEBI’s in-principle approval received subsequently.


IKEA’s 1st India store to be opened in Hyderabad on July 19

July 19 will mark the debut for Swedish major IKEA, the world’s largest furniture retailer into India, with its first store being launched officially in Hyderabad, the capital of Telangana, the newest State. Coincidentally, the store has seen an investment of Rs 1,000 crore. It will have 1,000 employees and has been designed after teams visited 1,000 Indian homes across cities to study peoples’ choices and needs and house the biggest restaurant in IKEA’s worldwide chain with a 1,000 seater.


ABB India signs MoU with IIT Roorkee for Smart Cities mission pilot project

The ABB (India) Limited has signed a memorandum of understanding with the Indian Institute of Technology Roorkee (IITR) to technical cooperation for the construction of an operational smart electricity distribution network and management system in the campus. The move is aimed to serve as a pilot project for the Smart Cities mission of the Narendra Modi government.


Justice L Narasimha Reddy appointed CAT Chairman

Justice L Narasimha Reddy who retired as the Chief Justice of the Patna High Court in July 2015 has been appointed the Chairman of the Central Administrative Tribunal (CAT). Justice Reddy’s appointment received Presidential approval recently. His remuneration has been fixed at Rs. 2,50,000 per month and will hold office for a little over three years as he will reach the age of 68 on August 1, 2021.


Shri Girish Pillai takes charge as New Member Traffic, Railway Board

Shri Girish Pillai has taken over as the New Member Traffic, Railway Board on 01st July 2018. Prior to this, he was General Manager, West Central Railway, Jabalpur from 01st September 2016 to 30th June 2018. He is an Indian Railway Traffic Services (IRTS) officer of 1980 Batch. He joined Railways in January 1982.


Bajrang Punia Claims Gold at Tbilisi Grand Prix

Bajrang Punia emerged champion at the Tbilisi Grand Prix in the 65kg category after outplaying Iranian wrestler Mehran Nasiri in the final in Georgia on 5th July. The 2018 Commonwealth Games gold medalist recorded a comfortable 9-3 win over the Iranian, whom he had beaten at the 2017 Asian Championship in New Delhi as well. Meanwhile, in the 86kg category, Deepak Punia received bronze against Osman Gosen of Turkey.


Learn Two a Day:

MTSS – Money Transfer Service Scheme
ECB – External Commercial Borrowing

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