Current Affairs for BANK, IBPS Exams 20 June 2017

Bank Exam Current Affairs

::National::

U.S. aircraft major Lockheed Martin and Tata Advanced Systems Limited (TASL) signed an agreement to manufacture the F-16 Block 70 fighter aircraft in India to meet the Indian Air Force’s single-engine jet requirement.
The IAF is about to initiate the process for selection of a single-engine fighter aircraft to replace the Russian MiGs under the Strategic Partnership model of the Defence Procurement Procedure.
The Strategic Partnership model has four segments — submarines, single-engine fighter aircraft, helicopters and armoured carriers/main battle tanks — and specifically intends to open up defence manufacturing to the private sector.
The deal for 100-plus fighter aircraft is estimated to be worth over Rs. 60,000 crore.
The contenders for the deal are F-16 of Lockheed Martin and Gripen of SAAB. The likely Indian private sector players in the race are TASL and Mahindra group, both of which have a footprint in the aerospace sector.

In its latest order dated June 16, the Central Information Commission (CIC) has urged the Committee of Administrators (CoA) running the Board of Control for Cricket in India (BCCI) to bring the organisation under the RTI Act.
The latest order states that the Sports Minister had told the Lok Sabha in 2012 that BCCI was a National Sports Federation for cricket, which received thousands of crores towards tax concessions.
Thus it has to come under the RTI in order to remain accountable to the public. The CIC in its order has asked the PMO, the Ministry of Law and Justice, and the Sports Ministry as to why RTI was not being implemented by the organisation.
The CIC order states that in April 2010, the government had declared all the National Sports Federations (NSF)s receiving a grant of Rs. 10 lakh or more as a Public Authority under Section 2(h) of the RTI, 2005.
It lists the thousands of crores of tax exemptions the organisation received on its income.
It also cites the fact that the BCCI has tacit recognition or approval/ sanction from the government for selecting the Indian team, which gave it complete monopoly with deep and all-pervasive control over the sport of cricket in India.

India on Monday urged the BRICS to step up the fight against global terrorism, amid consensus within the group to back economic globalisation and speak with one voice to counter climate change.
Gen. (retd) Singh said the BRICS (Brazil, Russia, India, China and South Africa) supported India’s call for early adoption of a comprehensive UN convention against international terrorism.
A joint statement released at the end of the conference condemned “terrorism in all its forms and manifestations wherever committed and by whomsoever”.
It also called for a “genuinely broad international counter-terrorism coalition” and underscored “the responsibility of all states to prevent financing of terrorist networks and terrorist actions from their territories”.
Besides, the foreign ministers welcomed the second BRICS Consultation on UN Peacekeeping Affairs to be held in Beijing in July.

Contrary to expectations, the last two Scorpene submarines will roll out of the manufacturing line without the Air Independent Propulsion (AIP) system meant to extend the reach of the conventional diesel-electric submarines.
The AIP module is not part of the original Scorpene contract but the Navy has been keen on having them fitted on the last two of the six Scorpene submarines being manufactured by Mazgaon Docks Limited (MDL) in Mumbai.
The AIP module is being developed by Defence Research and Development Organisation (DRDO) and was supposed to be installed before the submarines roll out. However, a delay in development seems to scuttle the plan.
The module enables conventional submarines to stay remain underwater for a longer duration greatly increasing the submarines stealth characteristics.

Adding a new dimension to bilateral ties, India and Afghanistan inaugurated a dedicated air freight corridor service.
The corridor which passes through the airspace of Pakistan was launched with a cargo aircraft flight flagged off by Afghanistan President Dr. Ashraf Ghani.
The dedicated air corridor was planned during the meeting of Prime Minister Narendra Modi and President Ghani in Kabul in September 2016.

Chief Minister of Sri Lanka’s Northern Province C.V. Wigneswaran will continue in the post following an understanding with Tamil National Alliance leader R. Sampanthan, days after a large bloc of governing council members withdrew support.
Chief Minister agreed to reverse his controversial directive to two provincial ministers that Mr. Sampanthan had earlier objected to.
Following negotiations, Mr. Sampanthan told the Northern Province Governor that the Council members would withdraw their motion of no-confidence.
The CM’s decision provoked as many as 21 members of the 38-member council to withdraw their support to him last week, putting the future of the first council of Sri Lanka’s Northern Province, elected to power in 2013, at stake.
While the recent controversy centred on the inquiry, it reflected the simmering disgruntlement within a section of the Council, particularly among ITAK members, who felt neglected.
It is yet another manifestation of the widening political differences between Mr. Sampanthan and the CM he hand-picked in 2013.

India will host a summit for start-ups from SAARC nations later this year to tap the complementarities that ventures across South Asia may bring to the table, Minister of State for Commerce and Industry Nirmala Sitharaman said.
The eight-member South Asian Association for Regional Co-operation (SAARC) could also be a forum that helps build linkages for similar thinking minds and start-ups, Ms.Sitharaman said.
Apart from India, the SAARC includes Afghanistan, Bangladesh, Bhutan, Nepal, Maldives, Pakistan and Sri Lanka.
Fresh steps are on the anvil to help start-ups, including a new credit guarantee fund and extending the exemption from labour law inspections for a period of five years instead of the current benefit of three years.
While 12 states had advised their labour departments to allow start-ups to submit self-certification for compliance with six major labour laws for a period of three years, the secretary said the Centre now decided to extend this period to five years.
Almost 85% of the 1300-odd start-ups that had been recognised for such benefits by the Union government belong to nine States.

Beginning July 1, airfares from some Airports Authority of India airports will become cheaper as the Directorate General of Civil Aviation has rolled back the 10% hike in airport charges at non-major airports made effective from December last year.
The Air Navigational Charges at all airports and airport charges at non-major airports of AAI for domestic flights stand restored to rates prior to Dec. 16, 2016, said DGCA chief B.S. Bhullar.