Daily Current Affairs (English) - 09.06.2018
Submitted by root on Sat, 06/09/2018 - 13:16
Queen pineapple became Tripura’s ‘State Fruit’
- President Ram Nath Kovind declared Tripura’s queen variety pineapple as state fruit.
- The state holds good potential in world trade.
- Export of the pineapple to foreign countries is a major step in connecting with world trade.
- Tripura exported its first consignment of one-tonne pineapples to Dubai earlier this month.
DAC approves procurement of radars
- The Defence Acquisition Council (DAC) approved procurement of high powered radars for the Indian Air Force and air cushion vehicles for the Army and the Coast Guard together worth over Rs. 5,500 crore.
- The 12 high power radars will be procured indigenously under the ‘Buy (Indian) IDDM’ category.
- The radars will have the capability to scan 360 degrees without mechanical rotation of Antenna,
RBI hikes repo rate by 25 basis points to 6.25%
- The six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) on 6th June increased the repo rate by 25 basis points to 6.25%. The MPC had become ‘uncertain’ following a surge in international crude oil prices.
- This is the first rate hike in four-and-a-half years; the last was in January 2014. The RBI increased its inflation projection to 4.8%-4.9% in the first half (H1) of the financial year and 4.7% in the second half.
- The outlook for GDP growth for 2018-19 has been retained at 7.4% as projected in the April policy. GDP growth is projected to be in the range of 7.5-7.6% in H1 and 7.3-7.4% in H2, with risks evenly balanced, the RBI said.
Other Rates kept unchanged as follows:
- Reverse Repo Rate: 5.75%
- Cash Reserve Ratio (CRR): 4%
- Statutory Liquidity Ratio (SLR): 19.5%
- Marginal Standing Facility (MSF): 6.5%
- Bank Rate: 6.5%
Baba Kalyani heads a group to study SEZ Policy
- The government of India has constituted a group of eminent persons headed by Baba Kalyani, Chairman of Bharat Forge to study the Special Economic Zones (SEZ) Policy of India.
- The SEZ Policy was implemented from 1st April, 2000. Subsequently the Special Economic Zones Act, 2005 was passed by Parliament in May 2005 and received Presidential assent on 23 June, 2005 and the Special Economic Zone Act was enacted.
- The SEZ Act, 2005, supported by SEZ Rules, came into effect on 10th February, 2006.
World Ocean Day: 8th June 2018
- On June 8th each year, we celebrate the ocean, its importance in our lives, and how we can protect it.
- World Oceans Day helps raise the profile of the ocean and inspire more involvement in helping to conserve this amazing resource we all depend on.
- The main action focus is to prevent plastic pollution and encourage solutions for a healthy ocean.
Indian, US, Japanese maritime forces begin Malabar exercise
- Naval ships, aircraft and personnel from India, Japan and the US have begun exercise Malabar 2018.
- They will practice surface and anti-submarine warfare operations and combined carrier strike group operations off the Coast of Guam Island in the western Pacific during the exercise.
- The June 7-16, 2018 wargame is being held amid increased Chinese activities of building artificial islands in the South China Sea and sending submarines into the Indian Ocean.
Short-term subsidised crop loan to be implemented through direct benefit transfer mode: RBI
- The RBI announced that interest subsidy scheme on short-term crop loans of up to Rs 3 lakh will be implemented through the Direct Benefit Transfer Mode from the current financial year.
- The Centre has earmarked Rs 15000 crore for 2018-19 towards interest subvention for short-term crop loans.
- As per the scheme, farmers can avail of short-term crop loans of up to Rs 3 lakh at subsidised interest rate of 7 percent that could go down to 4 percent on prompt repayment.
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