20 June 2017 Current Affairs

BankBazaar.com opens its office in Malaysia

Online financial services marketplace BankBazaar has begun its operations in Malaysia to strengthen its presence in South East Asia. Further, to scale and steer its international operations, BankBazaar has appointed former Visa employee Vipin Kalra to lead the business growth internationally. In line with this vision to expand its foothold across south east Asia, last month, BankBazaar announced an investment of Rs. 5 crore in the Malaysian market and an additional Rs. 10 crore in its Singapore business.

Ram Nath Kovind resigns as Bihar Governor

Bihar Governor Ram Nath Kovind has resigned from his gubernatorial post. The resignation follows his nomination as the ruling NDA’s presidential candidate. President Pranab Mukherjee has accepted the resignation of Kovind as the Governor of Bihar. West Bengal Governor Keshari Nath Tripathi will discharge the functions of the Governor of Bihar, in addition to his own duties. BJP announced the name of 71-year-old Mr. Kovind, a low-profile Dalit leader and a two-term BJP Rajya Sabha member, as its nominee for President.

Lockheed signs pact with Tata to make F-16 planes in India

The defence arm of the Tata Group has signed an agreement with American firm Lockheed Martin to produce and export new generation F-16 fighter aircraft, potentially kick-starting a mega ‘Make in India’ project. The agreement has been signed at the Paris Airshow, Lockheed to produce F-16 fighter planes in India. It is the newest and most advanced version of the world’s most successful, combat-proven multi-role fighter.

Union Government launched Mobile App “Celebrating Yoga”
Minister for Science & Technology Dr. Harshvardhan launched a Mobile App “Celebrating Yoga” developed by Ministry of Science & Technology in New Delhi. The Mobile App has been developed by DST on the occasion of International Yoga Day (21 June) 2017. The purpose of the App is to popularize Yoga and encourage people to participate in it for a scientifically healthy living. The App will enable in capturing both mass events being organized in public places, schools and office complexes across the country and individual enthusiasts who are performing yoga to promote the celebration of the day and yoga performances. The App “Celebrating Yoga” can be downloaded from Google Play Store.

IDBI Bank starts insolvency proceedings against Lanco Infra

IDBI Bank has started insolvency resolution process against Lanco Infratech Ltd. following a directive from the Reserve Bank of India (RBI). While this is the first resolution process initiated by the lenders against 12 large borrowers identified by the RBI recently. The other accounts identified by RBI include Essar Steel, Bhushan Steel, Electrosteel Steel, Alok Industries, Jyoti Structures, Monnet Ispat and Jaypee Associates. The RBI’s internal committee identified 12 accounts on the criteria that they have outstanding loan of Rs 5000 crore and is classified as non-performing loan as in March 2016. These accounts constitute 25% of total NPAs.

India becomes 71st country to ratify UN TIR Convention

India has become the 71st country to ratify the United Nations International Convention on Road Transports, TIR, a move that will help boost trade through smoother movement of goods across territories. TIR is managed and developed by IRU – the world road transport organisation. The TIR Convention is part of India’s multi-modal transport strategy that aims to integrate the economy with global and regional production networks through better connectivity. TIR will help India to integrate with Myanmar and Thailand as well as Bangladesh, Bhutan and Nepal. China was the last TIR contracting party who acceded to the Convention in July 2016.

Piyush Goyal Launches Energy Conservation Building Code 2017

Shri Piyush Goyal, Minister of State (IC) for Power, Coal, New and Renewable Energy and Mines has launched the Energy Conservation Building Code 2017 (ECBC 2017). Developed by Ministry of Power and Bureau of Energy Efficiency (BEE), ECBC 2017 prescribes the energy performance standards for new commercial buildings to be constructed across India. The updated version of ECBC provides current as well as futuristic advancements in building technology to further reduce building energy consumption and promote low-carbon growth. The code aims to optimise energy savings with the comfort levels for occupants, and prefers life-cycle cost effectiveness to achieve energy neutrality in commercial buildings.

Mumbai’s Taj Palace becomes first Indian building to get trademark

The iconic Taj Mahal Palace hotel in the Mumbai City has acquired an ‘image trademark’, making it the first building in the country to get intellectual property rights protection for its architectural design. This makes the 114-year-old building the first in the country to get such a registration. The hotel, which has been a defining structure of Mumbai’s skyline, has joined the elite and small club of trademarked properties in the world which includes the Empire State Building in New York, the Eiffel Tower in Paris and Sydney Opera House. Usually, logos, brand names, combination of colours, numerals and even sounds are trademarked but the registration of an architectural design has never been attempted since the Trademark Act came into force in 1999.

20 June: World Refugee Day

The World Refugee Day is observed across the world on 20 June to commemorate the strength, courage, and perseverance of millions of refugees. The day is celebrated by United Nations. The Day also marks a key moment for the public to show support for families that are forced to flee for their lives each day. This year, World Refugee Day also marks a key moment for the public to show support for families forced to flee.

ISRO’s Mangalyaan completes 1000 Earth days in its orbit

Indian Mars Orbiter Mission (MOM) also called Mangalyaan completes 1000 Earth days in its orbit. The interplanetary mission of ISRO was launched on 5th November, 2013. It was inserted into Martian orbit on 24th September, 2014 in its first attempt. The Mars Orbiter Mission credited with many laurels like cost-effectiveness, short period of realisation, miniaturisation of five heterogeneous science payloads completed 1000 Earth days which corresponds to 973.25 Martian Solar day. Scientific analysis of the data received from the Mars Orbiter spacecraft is in progress. According to ISRO, the satellite is still in good health and continues to work as expected.

Afghan Prez inaugurates first air corridor with India, bypassing Pak

Afghan President Ashraf Ghani has inaugurated the first Afghanistan-India air corridor at the Kabul International Airport. The corridor is a direct route that will bypass Pakistan and is meant to improve commerce in Afghanistan. The aim of the route is to create more opportunities and make Afghanistan an exporter country. Afghan agricultural products will for the first time head to India on cargo planes. Afghanistan is a mountainous landlocked country and all imports and exports depend on neighboring countries. The first India-bound flight included 60 tons of medicinal plants and a second flight will carry 40 tons of dry fruits from the southern Kandahar province.

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