Tuesday, 13 June 2017

Daily Update On Current Affairs - June 13, 2017

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

PM Modi To Visit US On June 25

Prime Minister Narendra Modi will be on a two-day visit to United Sates on 25th of this month. During the visit, Mr. Modi will hold official talks with President Donald Trump on 26th June in Washington. This will be the first meeting between the two leaders. The discussion will provide a new direction for deeper bilateral engagement on issues of mutual interest. 

Finance Minister Arun Jaitley Says States Should Generate Funds From Own Resources For Farm Loan Waivers

Finance Minister Arun Jaitley has said, states keen on farm loan waiver must generate funds from their own resources. Talking to media after meeting heads of PSU Banks in New Delhi, Mr. Jaitley said that the Reserve Bank of India is at an advanced stage of preparing a list of bad loans where resolution is required under the country's insolvency and bankruptcy rules. The Finance Minister said, the RBI is actively working on Non Performing Assets resolution and action will be taken soon in this front.

EU, Turkey To Meet To Put Turkey’s Bid To Join EU

The European Union and Turkish officials are scheduled to meet in Brussels today to try and put Turkey’s decades-long bid to join the EU back on track. Turkish-EU relations recently hit one of their lowest ebbs following a bitter war of words between Turkish President Recep Tayyip Erdogan and Brussels over his controversial referendum to extend his powers. The latest effort to reset ties was the fruit of Erdogan’s visit to Brussels after his April referendum victory.

Retail Inflation Falls To All-Time Low Of 2.18 % In May

Retail inflation fell to an all-time low of 2.18 percent in May this year. Inflation fell as prices of kitchen staples like vegetables and pulses declined sharply. Consumer Price based inflation, or retail inflation had stood at 2.99 percent in April this year, and at 5.76 percent in May last year. Overall food inflation stood at minus 1.05 percent in May, meaning that overall food prices declined. Prices of vegetables declined 13.44 percent, and prices of pulses and products fell 19.45 percent during the month.

Industrial Production Growth Slips To 3.1 Percent In April

Growth in the country's industrial production slipped to 3.1 percent in April this year. Factory output measured in terms of the index of industrial production, IIP, had expanded 6.5 percent in April last year, and 3.75 percent in March this year. According to data released by the Central Statistics Office, today, the manufacturing sector grew 2.6 percent in April, mining sector output grew 4.2 percent, and power generation rose 5.4 percent in April.

Task Force To Resolve Banking Issues Of Exporters Soon

Departments of Commerce and Financial Services have decided to set up a joint task force to resolve banking related issues of exporters. Directorate General of Foreign Trade, DGFT in a tweet said the issue was discussed with Commerce Secretary at a meeting organised by the Department of Financial Services. Exporters face several issues related to the bank which increases their transactions cost.

IRDAI Takes Over Management Of Sahara Life Insurance

The Insurance Regulatory and Development Authority of India (IRDAI) has taken over the administration of Sahara India Life Insurance, a first of its kind move in the insurance sector. It has named RK Sharma, General Manager, IRDAI, as administrator to manage the affairs of the insurer. “The IRDAI has reasons to believe that Sahara India Life Insurance Co is acting in a manner likely to be prejudicial to the interests of holders of life insurance policies,” TS Vijayan, Chairman, IRDAI, said in an order issued here on Monday. The administrator will act as per the powers and duties and applicable provisions of the Insurance Act, 1938 and manage the business with the greatest economy, compatible with efficiency and regular reporting to the regulator, the order states.

India’s Electronics Market May Cross $400 Billion By 2020: Study

The country’s electronics market is projected to grow at a CAGR (compound annual growth rate) of 41 percent for three more years to cross $400 billion by 2020, says a joint study by the industry chamber Assocham and NEC Technologies. India has a share of about 1.5 percent in the world in total electronics hardware production at $32.46 billion in 2014-15. The domestic consumption of electronic hardware in 2014-15 was $63.6 billion, out of which 58 percent was fulfilled by imports, noted the study, calling for steps to boost domestic production.

Jitu Rai-Heena Sidhu Clinch Gold Medal In ISSF World Cup

India's Jitu Rai and Heena Sidhu combined to clinch the gold medal in mixed team 10m air pistol event of the ISSF World Cup, beating Russia 7-6 in the final in Gabala, Azerbaijan today. France beat Iran by an identical score to win the bronze in the event. Earlier, on day four of the competitions at the rifle/pistol World Cup, both Jitu and Heena narrowly missed out on making the final of the individual men's and women's 10m air pistol event, finishing 12th and 9th in their respective qualification rounds. Only the top eight make it through to the final.

Champions Trophy: Pak Notches Up 3-Wicket Win Over Sri Lanka; All Semifinalists Confirmed

In ICC Champions Trophy Tournament, all semifinalists have been confirmed as Pakistan notched up a three-wicket win over Sri Lanka in their must-win Group B match yesterday. Now, group A topper England will lock horns with Pakistan in first semifinal on the 14th June at Cardiff Wales Stadium. In another semifinal, on15th June, top in the group B table India will take on Bangladesh at Edgbaston Cricket Ground in Birmingham.

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