Thursday, 22 June 2017

Daily Update On Current Affairs - June 22, 2017

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

June 21: International Yoga Day

June 21st is annually celebrated as International Yoga Day since the year 2015. This year, the 3rd International Day of Yoga is being observed. The purpose of the yoga day is to promote yoga and make it as a part of people’s daily routine. The President of India, Pranab Mukherjee has inaugurated a mass yoga demonstration to commemorate the 3rd International Day of Yoga at Rashtrapati Bhavan. According to UN, this year Yoga Day’s theme is “Yoga for Health“. The theme has been chosen to highlight the fact that yoga can contribute in a holistic way to achieving an equilibrium between mind and body.

First Indigenously Built Floating Dock Launched By L&T

Larsen & Toubro has launched the first indigenously built Floating Dock (FDN-2) to repair Indian Navy ships at its Shipyard at Kattupalli, north of Chennai. The floating shipyard would be handed over to the Indian Navy after conducting three to four months of trial. After the trials, FDN-2 will be moved to Andaman & Nicobar Islands. There it would be used for repairing assets of the Indian Navy and also of other services. These floating docks are capable of being installed either along a jetty, moored in calm waters and also moved to high seas enabling round-the-year operation. FDN-2 will be capable of repairing up to 8,000-tonne ships with draught up to 7 metres, including submarine

Karnataka Government Waives Off Short-Term Farm Loans Of Up to 50 Thousand Rupees

The Karnataka government has waived short-term farm loans of up to 50,000 rupees per farmer. Announcing this in the Legislative Assembly today, Chief Minister Siddaramaiah said that the move will help more than 22, lakh farmers who have obtained loans from cooperative banks in the state amounting to over 8,000 crore rupees. He said the Government has responded to farmers, even though it will have an impact on state’s finances. Karnataka government follows prevailing popular mood in the country to waive crop loans. Karnataka is going to polls next year and crop loan waiver had turned into a strong political tool in the hands of the opposition. Responding to the decision of waiver, the leader of the Opposition in Legislative Assembly Jagadish Shetter has claimed that the Congress Government has bowed to the pressure exerted by BJP to rescue drought-hit farmers. The BJP state President B S Yeddyurappa has expressed unhappiness, saying that loans of up to one lakh should have been cleared off.

NASA Tests ROSA On Space Station For The First Time

NASA is testing the effectiveness of a flexible solar array, the Roll-Out Solar Array, or ROSA, on the space station for the very first time. ROSA is expected to one-day power satellites and spacecraft. NASA had earlier tested the ROSA technology in vacuum chambers on the Earth but this is the first time it is testing the technology in space. ROSA is an advanced, flexible solar array that rolls out like a tape measure. The ROSA is very much flexible so that it can be adapted to different sizes including very large arrays. ROSA is expected to provide power for a variety of future spacecraft and satellites. ROSA will be an asset for satellite radio and television, weather forecasting, GPS and other services used on the Earth.

China Unveils World’s First Train That Runs On Virtual Tracks

China has unveiled world’s first train that runs on a virtual track making use of sensor technology instead of metal rails. The new trains are non-polluting as they are battery powered. The train is capable of reaching a top speed of 70 kph and can travel a distance of 25 km by just charging for 10 minutes. The train which is only about 32 meters long can carry up to 307 passengers.

India, Russia Identify Key Areas To Boost Cooperation In Science & Technology Sector

India and Russia have identified key areas to bolster cooperation in the science and technology sector, including space and marine technologies, IT and deep ocean engineering. The areas were chosen at the first meeting of India-Russia Joint Committee on Science and Technology Cooperation in the Siberian city of Novosibirsk. The meeting was co-chaired by Defence Minister Arun Jaitley and Russian Deputy Prime Minister Dmitryi Rogozin.

King Of Saudi Arabia Declares Son Mohammed Bin Salman As Crown Prince

The King of Saudi Arabia on Wednesday declared his son Mohammed bin Salman as the Crown Prince, replacing his nephew Mohammed bin Nayef through a royal decree, which was approved by 31 out of 34 members of the Allegiance Council. The newly appointed 31-year-old Crown Prince will become the Deputy Prime Minister while retaining his position as the Defence Minister. Mohammed bin Nayef, 57 years old has been relieved of his current duties and has pledged allegiance to the newly appointed Crown Prince.

Romania Government Falls After Six Months In Power

Romania's government fell today after the ruling party took the unusual step of passing a no-confidence vote in its own Prime Minister following internal power struggles. The left-wing Social Democrat Party (PSD) filed the motion against Premier Sorin Grindeanu barely six months after winning a thumping election victory. The PSD unexpectedly withdrew its support for Grindeanu on June 14, accusing him of delays in implementing reforms in the European Union's second-poorest country.

SEBI Decides To Ease Entry Norms For FPIs

Markets regulator SEBI on Wednesday decided to ease the entry norms for overseas investors by permitting a direct access to Foreign Portfolio Investors (FPIs) from eligible jurisdictions. After its board meeting in Mumbai, SEBI Chairman Ajay Tyagi said that the regulator has rationalized "fit and proper" criteria for FPIs as well as simplified broad-based requirements for such investors. The Securities and Exchange Board of India (SEBI) will issue a discussion paper on easing registration of FPI. He further said that the regulator has decided to expand "the eligible jurisdictions for grant of FPI registration to category I FPIs by including countries having diplomatic tie-ups with India". Besides, it has permitted FPIs, operating under the Multiple Investment Managers (MIM) structure and holding foreign venture capital investors (FVCI) registration, to appoint multiple custodians.

SEBI Relaxes Norms For Banks To Take Over Stressed Assets Of Listed Companies To Recover Bad Loans

Capital markets regulator, SEBI today relaxed takeover norms for the acquisition of stressed assets of listed companies to help the government and the RBI in their efforts to tackle bad loans. SEBI Chairman Ajay Tyagi said this after a board meeting in Mumbai, today. SEBI's board also approved a proposal to tighten rules for participatory notes through the imposition of a regulatory fee on issuers of such instruments. But the SEBI chief said there is no proposal to completely ban Participatory notes, as they can be useful for new foreign investors looking to test the Indian markets.

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