Current Affairs for BANK, IBPS Exams 30 June 2017

Bank Exam Current Affairs

Current Affairs for BANK, IBPS Exams 30 June 2017

::National::

Army Chief General Bipin Rawat reached Sikkim

Army Chief General Bipin Rawat reached Sikkim to review the standoff between Indian and Chinese troops along the border even as Chinese authorities alluded to India’s defeat in the 1962 war while asking New Delhi to withdraw forces.
Army said that during his two-day visit, General Rawat would review the situation at the tri-junction between India, Bhutan and China, where military units of India and China are believed to be in a standoff.
The Army Chief visited areas under the 17 Mountain Division tasked with guarding the China-India border in the Sikkim sector.
Following the tensions, Chinese authorities have closed the Nathu La pass to Kailash Mansarovar pilgrims, forcing them to return.

Islamic State’s “state of falsehood” has come to an end says Iraq

The Islamic State’s “state of falsehood” has come to an end, Iraqi PM Haider al- Abadi said, after his troops captured the wrecked historic mosque of Mosul from where Abu Bakr al-Baghdadi declared himself “Caliph” three years ago.
“The return of the al-Nuri Mosque and the al-Hadba minaret to the fold of the nation marks the end of the Daesh state of falsehood,” Mr. Abadi said in a statement, referring to the ultra-hardline Sunni group by an Arabic acronym.
He said Iraqi forces would continue to hunt the Islamic State’s fighters “to kill them and detain them, down to the last one.”
The insurgents blew up the medieval mosque and its famed leaning minaret a week ago as the U.S.-backed Iraqi forces advanced towards it. Their black flag had been flying from al-Hadba (The Hunchback) minaret since June 2014.
Authorities expect the long battle for Mosul to end in the coming days as the remaining IS fighters are bottled up in just a handful of neighbourhoods of the Old City.

GSAT-17 in space as the newest Indian communication satellite

A 39-minute dusk launch at the South American space port of Kourou placed GSAT-17 in space as the newest Indian communication satellite. The launch took place at 2.45 a.m. IST
The 3,477-kg spacecraft, the heaviest built by the Indian Space Research Organisation, will soon join the ring of 17 working national communication satellites that are already in orbit.
It will add to the services they provide for broadcasting, telecommunications, VSAT services, meteorology, search and rescue, among others, ISRO said.
Said to have over 40 transponders in different bands, “GSAT-17 is designed to provide continuity of services of operational satellites in C, extended C and S bands,” it said.
The satellite and its foreign launch were approved in May 2015 with an outlay of Rs. 1,013 crore. It went to orbit on the Ariane-5 ECA rocket VA-238, operated by European launch services agency Arianespace.
When it sends the 5,700-kg GSAT-11 this year-end again on an Ariane booster, ISRO hopes it will be its last foreign launch, says Mr. Kiran Kumar.
A railway station in Rajasthan and eye-catching locations in Qatar and Egypt are among the early pictures beamed down by the week-old Cartosat-2 series spacecraft.

Paris to become Europe’s technology capital

Paris took a step closer to fulfilling its ambition of becoming Europe’s technology capital when President Emmanuel Macron inaugurated Station F, the world’s largest start-up incubator on the banks of the Seine.
The 34,000 sq. m. facility, which entirely fills an old railway depot is being bankrolled by billionaire Xavier Niel, who revolutionised the French internet and mobile market with his low-cost Free service and is now on a crusade to put French technology on the map.
The cavernous concrete and glass hub, which aims to house up to 1,000 startups, will be a “very visible place that creates a strong image for Paris,” Mr. Niel said.
Station F is situated in the fast-changing 13th district — an airy neighbourhood of modern high-rises, shops and cinemas that is home to the national library.
The space has been designed to create the feel of an American college campus, with entrepreneurs paying 195 euros ($221) a month for a spot in the hub, which is divided into three areas: create, share and chill.
The incubator is the biggest of around 40 that have sprung up in the French capital, which is competing with London and Berlin for the title of Europe’s technology leader.
Facebook, Amazon and Microsoft have already come onboard Station F, to mentor the start-ups. The entrepreneurs will also partner on-site with top French universities and venture capital funds.
Currently, London has the lead in luring international talent. The French are hoping the pendulum will swing across the Channel when Britain leaves the EU.

GSTN the IT backbone of GST is all set to get a security clearance

The Goods and Service Tax Network (GSTN), the IT backbone of the Goods and Service Tax (GST) is all set to get a security clearance from the Home Ministry, hours before the indirect tax regime comes into effect on July 1.
Though the GSTN has been operational, it had not got the security clearance — a mandatory requirement as it has private participation.
GSTN, a not-for-profit private limited company, has 51 per cent equity of five private institutions — HDFC Bank Ltd (10 per cent), HDFC Ltd (10%), ICICI Bank Ltd (10%), NSE Strategic Investment Corporation Ltd (10%) and LIC Housing Finance Limited (11%).
The Central government has 24.5% equity in the GSTN, whereas State governments, two Union territories and empowered committee of State finance ministers together hold another 24.5% stake.
The Finance Ministry is looking into the GSTN with respect to economic security whereas the Home Ministry is examining threat perception to national security by any of the stakeholders in the company.
The procedure for granting security clearance to the GSTN involves background checking of office-bearers and others concerned.

::International::

Israel's PM to visit India later this year

Prime Minister Narendra Modi’s visit to Israel next week will be reciprocated by Israel Prime Minister Benjamin Netanyahu later this year.
MEA and the Israeli Embassy simultaneously announced Mr. Modi’s visit. “This significant visit, the first of an Indian Prime Minister to Israel, takes place on the backdrop of marking 25 years of diplomatic relations between India and Israel, and will further upgrade the ever growing partnership between the two countries,” the announcement said.
The visit will see the partnership being upgraded to a “Strategic Partnership” on issues like Water, Agriculture, Science and Technology, and Space.
Ties in more than 30 areas will be upgraded through MoUs on cybersecurity, agriculture, tourism, health, connectivity, education, Ganga rejuvenation and even “attracting Bollywood”.
Both sides will also commit $40 million to an Industrial Research & Development fund to encourage applied scientific research, using Israeli innovation and Indian expertise.
Mr. Carmon said the Israeli Cabinet had cleared the Strategic Partnership on non-security issues on June 24.

::Business and Economy::

ADB termed the roll-out of the Goods and Services Tax as an important reform

Asian Development Bank president Takehiko Nakao termed the roll-out of the Goods and Services Tax as an important reform achievement of the NDA government.
But suggested that it could pose challenges on account of several factors — especially the multiplicity of tax rates.
While he commended the government’s resolve to push forward with reforms in several areas, the ADB chief said India must put more energy into reforms of its labour and land acquisition laws as well as regulations governing foreign direct investment so that the economy can grow faster than countries like China on a sustained basis.
Mr. Nakao said the impact of GST on the economy is difficult to gauge at this stage but its biggest benefit would be the integration of the Indian economy into a single market.
Arriving at an effective pricing strategy in the GST era would be the most critical challenge for businesses and would impact their profitability, the ADB chief pointed out.

India has been the worst hit country by petya ransomeware

India has been the worst hit country in the Asia Pacific region and the seventh most impacted nation worldwide by the Petya ransomware, according to cybersecurity service provider Symantec.
The Petya ransomware was the second big scale cyberattack after WannaCry in May. The Petya ransomware not only encrypts files, it locks the entire disk, making it basically unusable until the infection is removed.
It shuts down the system after the infection and asks for ransom of $300 in bitcoins on rebooting.
As per findings by Symantec, Ukraine was worst hit by the ransomware, followed by the U.S., Russia, France, the U.K., Germany, India China and Japan.
After gaining an initial foothold, Petya uses a variety of methods to spread across corporate networks.
Some corporations including Russia’s largest oil company Rosneft, Ukraine's international airport, shipping firm AP Moller-Maersk, and advertising giant WPP have come under attack from the latest ransomware.

Reforms, CEZs to aid growth says NITI Aayog

Labour, land and agriculture reforms along with development of coastal economic zones (CEZs) and new cities will help India achieve rapid economic growth, according to NITI Aayog vice chairman Arvind Panagariya.
Mr. Panagariya, speaking at a discussion on ‘NITI Action Agenda and the Indian Economy’ organised by the Reserve Bank of India, suggested that India should undertake projects with a lower gestation period, similar to China.
“We should start on a limited scale and create a few models,” he said.