Sunday, 11 June 2017

Daily Update On Current Affairs - June 11, 2017

current affairs
Here's your daily summary of Current Affairs.

EU, France Give 3.5 Million Euros As Grant To Curb Emissions In India

EU and France will give a grant of 3.5 million euros to three Indian cities- Nagpur, Kochi, and Ahmedabad as part of the EU’s commitment under the Paris Climate agreement to curb emissions and promote sustainability in these cities. The grants have been provided to help India’s smart city programme under the ‘Moblise Your City’ (MYC) initiative. India has become the first country to get benefits from the MYC initiative. The MYC initiative is supported by the French and German government and also has the financial support of the European Union (EU). The initiative is aimed at helping 100 cities across the world to reduce Green House Gas (GHG) emissions by promoting sustainable urban transport and sustainability in urban spaces. MYC initiative was emphasized by the Indian and European leaders during Prime Minister Modi’s recent visit to Europe.

India Moves WTO Against US

India has moved the World Trade Organisation (WTO) against the US as it has not yet complied with the rulings of the WTO pertaining to imposition of high import duty on certain Indian steel products. In December 2014, the WTO’s appellate body pronounced a ruling against the act of US which is imposing high import duty on certain Indian steel products. It had ruled that the imposition of import duty on steel products was inconsistent with various provisions of the Agreement on Subsidies and Countervailing Measures.  

India Asks Gulf Nations To Solve Their Differences With Qatar Through Dialogue

India has said it is closely following the situation in the Gulf region in the wake of the decision by Saudi Arabia and some other countries to break diplomatic relations with Qatar. External Affairs Ministry, MEA, said in a statement that India is of the view that all parties should resolve their differences through dialogue and peaceful negotiations based on mutual respect, and noninterference in the internal affairs of other countries. It said India believes that peace and security in the Gulf are of paramount importance for the continued progress and prosperity of the region. International terrorism, violent extremism, and religious intolerance pose a grave threat not only to regional stability but also to the global peace and order and must be confronted by all countries in a coordinated and comprehensive manner. The MEA also said the government is in regular contact with the regional countries and their authorities have assured New Delhi of continued support for welfare and well-being of the resident Indian communities. It said Indian expatriates in the region have been advised to contact the Indian Embassy or Consulate for any assistance in the matter.

India’s Forex Reserves Reach Life Time High Of 381.167 Billion

According to RBI, India’s foreign exchange (Forex) reserves have increased by 2.404 billion to touch a lifetime high of 381.167 billion in the week that ended on June 2. The increase was due to increase in foreign currency assets (FCAs).

Foreign currency assets (FCAs), Gold, Special Drawing Rights (SDRs) and RBI’s Reserve position with International Monetary Fund (IMF). Out of all the components, FCAs constitute the largest component of the Forex Reserves. FCA rose by 2.748 billion to 357.290 billion in the reporting week. FCAs consist of US dollar and other major non-US global currencies. It also comprises of investments in US Treasury bonds, bonds of other selected governments, deposits with foreign central and commercial banks. FCAs include with them the effects of appreciation or depreciation of non-US currencies like the euro, pound, and the yen and is expressed in terms of dollars. The gold reserves declined by 343.2 million to 20.095 billion in the reporting week. SDRs' value decreased marginally by 0.2 million to 1.472 billion. RBI’s reserve position with the IMF declined by 0.4 million to 2.309 billion.

SEBI Clears Vikram Limaye For The Post Of NSE Chief

SEBI has granted conditional approval for the appointment of Vikram Limaye as the MD and CEO of the NSE. In February 2017, Limaye who is MD and CEO of the Infrastructure financing company IDFC was selected for the post of NSE chief. However, SEBI had not cleared his appointment as he was also present in the Supreme Court appointed four-member panel managing the affairs of the Board of Control for Cricket in India (BCCI). Now, the SEBI has cleared the appointment of Limaye subject to the condition that he relieves himself from his BCCI assignment, among other things. Limaye’s term with the BCCI ends in August this year.

Aadhaar Will Be Must For Filing ITR And Applying For PAN From The 1st Of Next Month, Clarifies CBDT

Central Board of Direct Taxes, CBDT has said Aadhaar will be a must for filing Income Tax Returns as well as applying for PAN from 1st of next month. In a statement it said, everyone who has already been allotted PAN, and has Aadhaar number or is eligible to obtain Aadhaar number will intimate it to Income Tax authorities for the purpose of linking PAN with Aadhaar. It also said the Supreme Court has given partial relief to those who do not have Aadhaar, and also do not wish to obtain Aadhaar so that for the time being their PAN is not canceled and other consequences under the Income Tax Act may not arise. Yesterday the Apex Court upheld Section 139AA of the Income Tax Act as constitutionally valid. The Section requires quoting of the Aadhaar number in applying for PAN as well as for filing of income tax returns.

Adam West, TV's Batman Dies At 88

A well known US actor, Adam West died in Los Angeles. He was suffering to leukemia for some time. He was 88. Adam West rose to prominence in the 1960s for a TV series Batman. First appearing in season two in 2002, he voiced Quahog's eccentric Mayor Adam West, described by series creator Seth MacFarlane as an "alternate universe", satirized version of the actor.

French Open: Jelena Ostapenko Wins Women’s Crown

Unseeded Jelena Ostapenko of Latvia has lifted the 2017 French Open Women’s Singles crown. She defeated Simona Halep 4-6, 6-4, 6-3.  This will be Ostapenko’s first ever Grand Slam title. With this win, Ostapenko, 20, has become the first unseeded woman to win the French Open after Britain’s Margaret Scriven’s feat in 1933. Ostapenko also earned the distinction of being the first player of Latvian origin – men or women – to win a Grand Slam event.

IOC Approves New Events For Tokyo Olympics

The International Olympic Committee has approved a number of new events for the 2020 Tokyo Games at the IOC’s Executive Board meeting held in Lausanne, Switzerland. The new events were added to reflect the IOC’s focus on gender equality and appeal to young people. The Tokyo Olympics would include 321 events which is an increase from 306 events held at Rio 2016. The new additions include a mixed 4x400m relay along with 14 other events such as 3-on-3 basketball, the mixed relay, mixed swimming, mixed team archery, BMX freestyle etc. In addition, mixed triathlon will also be included in the Tokyo games for the first time. Further, a mixed team event for judo will be included.
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