Current Affairs for BANK, IBPS Exams 7 July 2017

Bank Exam Current Affairs

::National::

With India and China asserting that no bilateral meeting between Prime Minister Narendra Modi and President Xi Jinping had been scheduled on the sidelines of the G-20 meeting in Germany.
Also China stepped up its verbal assault on India, warning it of ‘serious consequences’ if it did not withdraw its troops.
Chinese Foreign Ministry spokesperson Geng Shuang said the necessary information would be shared in a timely manner, when asked about the possibility of a bilateral meeting of the leaders at the BRICS event.
It is unusual for either country to announce that no bilateral meeting had been scheduled as both leaders have met in several multilateral meetings in the last three years.
The MEA’s confirmation about not having a bilateral meeting came despite earlier reports that the Indian and Chinese leaders would meet on the sidelines of the summit in Hamburg.
However, following the Doklam row the pilgrimage on the Sikkim route was stopped as the Chinese refused to allow Indian pilgrims to use the Nathu La pass.

The Centre told the Supreme Court that the increasing incidence of suicide by distressed farmers was a “terrible tragedy” and it was doing “all in its powers” to tide over the agrarian crisis.
Attorney General K.K. Venugopal painstakingly detailed a slew of measures and schemes the government had either proposed or launched to resolve the economic distress of farmers. He submitted that the NITI Aayog was addressing the issue of farmers’ suicides.
The court agreed with Mr. Venugopal that the “issue is serious and cannot be dealt with overnight.”
It was necessary to give the government some time to implement its welfare schemes, which ranged from crop insurance to agricultural credit and rescheduling of loans in case of crop failure.
The court gave the government a six-month window to work its schemes before re-visiting the issue at the next hearing.
The court, in its orders, recorded the government’s submissions that 5.34 crore farmers, constituting 40%, had already been covered by the welfare schemes and work was on to enhance the figure to 50% by 2018-19. Thirty per cent of the crops too were secured.
Mr. Venugopal said efforts were on to bring more farmers into the institutional fold by ensuring availability of crop loans through commercial, cooperative and regional rural banks.
ATM-enabled Kisan Credit cards had been introduced to enable farmers to purchase raw materials and draw cash.

The government has decided to do away with the no-detention policy for students from the next academic session, Union Minister said.
The decision was taken following representation from most of the States as they said the standard of education had deteriorated because of the policy.
Under the Right to Education Act, 2009, no child admitted to a school will be held back in any class or expelled till the completion of elementary education covering Classes 1 to 8.
“There has been a unanimous decision of withdrawing the no-detention policy from the Right to Education Act 2009,” the Minister of State for HRD said here.

U.S. President Donald Trump’s hopes for China’s help with restraining North Korea appear to have gone nowhere, with the two sides growing further apart as their approaches and concerns diverge.
China shows no sign of caving to U.S. pressure to tighten the screws on North Korea, while the North’s recent missile tests have done little to rattle Beijing, in contrast to the anxiety sparked in Washington.
China’s bottom line continues to hold fast — No to any measures that might topple Kim Jong-un’s regime.
Washington’s UN Ambassador Nikki Haley warned that China’s trade with the U.S. could suffer if it didn’t help following North Korea’s successful launch of its first intercontinental ballistic missile.
The U.S. has already blacklisted one Chinese bank accused of illicit dealings with North Korea and is penalizing a Chinese shipping company and two Chinese individuals accused of facilitating illegal activities by the North.

From January 1, 2018, the price of a packaged good would no longer depend on where you bought it — be it a local kirana store, a mall, a five-star hotel or an airport.
The Consumer Affairs Ministry has amended the rules that govern packaged commodities to this effect.
As per the amended Legal Metrology rules for packaged commodities, which will come into effect from the next calendar year, the Centre has clarified that the retail sale price shall be the MRP inclusive of all taxes, with the provision to round off the price to the nearest rupee or 50 paise.
Further, to curb the possibility of any vendor charging differential prices for the same product, a new legal provision has been inserted that no person shall declare different MRPs on an identical pre-packed commodity.
The new norms also require sellers to enhance the size of letters and numerals for making declarations about the packaged goods, such as their “best before date, month and year” to indicate their shelf life.
Interestingly, for e-commerce marketplaces, declaring the month and year in which a commodity is manufactured or packed is not mandatory and if they fulfill certain conditions, they will not be held liable for whether the declarations were correct or incorrect.

The guiding principles of the Asia Africa Growth Corridor (AAGC), initiated by India with the backing of Japan, will be to ensure sustainability through respect for sovereignty and territorial integrity.
As well as it will try to boost regional economic connectivity through the use of responsible debt financing practices.
The AAGC is seen as India and Japan’s counter to China’s Belt and Road Initiative that plans to link Asia, Europe and later even Africa by spending trillions of dollars in building infrastructure.
India and Japan were likely to soon reach out to the African governments, think tanks, NGOs and companies to ensure that the action plan of the AAGC was fine-tuned and successfully implemented.