Daily Current Affairs 11th May, 2018

Daily Current Affairs 11 May 2018 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

RBSM-India 2018 to commence in Mumbai

Commerce Secretary of the Government of India, Rita A Teaotia, will inaugurate the two-day second Reverse Buyers Sellers Meet (RBSM) commencing from May 15 in Mumbai for promoting export of mangos and other tropical fruits and products.

India, Myanmar discuss bilateral issues, sign seven agreements

India and Myanmar discussed a range of bilateral issues and signed seven agreements during External Affairs Minister Sushma Swaraj’s two-day visit to the country.

• The seven agreements signed included one on land border crossing, memorandums of understanding (MoU) on restoration and preservation of earthquake-damaged Pagodas in Bagan, assistance to the Joint Ceasefire Monitoring Committee, training of Myanmar foreign service officers, setting up an Industrial Training Centre (ITC) at Monywa, and ITC at Thaton and exchange of letters on extending a maintenance contract for ITC Myingyan.
• India is a key development aid partner for Myanmar and is implementing a number of infrastructure projects in that country.
• These include the a transport project connecting Mizoram with Sittwe port in Myanmar, the Trilateral Highway connecting India with Myanmar and Thailand and the Rhi-Tiddim road.

71 Union Ministries/Departments allocate 16.5 thousand Crore rupees for Swachhata

Nearly Rs 16.5 thousand crores have been earmarked by 71 Ministries/Departments of Government of  India to take up swachhata activities within their own spheres during the FY 2018-19. This earmarking is over and above the budget of Ministries in-charge of sanitation in the country, i.e. Ministry of Drinking Water and Sanitation for Swachh Bharat Mission (Gramin) and Ministry of Housing and Urban Affairs for Swachh Bharat Mission (Urban).

India Pavilion Inaugurated at Cannes Film Festival 2018

The Indian Pavilion at the Cannes film festival was inaugurated at Cannes in France. The inauguration session of the Indian Pavilion at the Festival was hosted by noted actor Sharad Kelkar.

• Also on May 11, India Day’ is being held at the 71st Cannes International Film Festival in France to bring together the French and Indian film industries.

Govt approves green licence plates for e-vehicles

To promote electric vehicles in India, the government has approved green licence plates bearing numbers in white fonts for private e-vehicles and yellow for taxis.

Pawan Kalyan unfurls world’s largest Indian flag in Telangana

Actor-turned-politician and Jana Sena Party founder Pawan Kalyan today unfurled the national flag in Hyderabad, claimed to be the world’s largest Indian tricolour, to commemorate the first war of the country’s independence that took place in 1857. According to a party release, the flag was 122 feet in length and 183 feet in width.

INTERNATIONAL NEWS

C-DELTA launched by CHOGM to boost digital education skills

Commonwealth Heads of Government has launched an online platform named Commonwealth Digital Education Leadership Training in Action (C-DELTA) to create an enabling environment and culture of lifelong learning.

• The platform allows students and teachers to develop communities and demonstrate their effective use of digital education tools, and thereby influence others as leaders in digital education skills. The platform has been launched by the Commonwealth of Learning (COL).

BANKING, FINANCE & ECONOMY

India’s growth to accelerate to 7.3% in FY19: Fitch

Credit rating agency Fitch has said that India’s economic growth will accelerate to 7.3 per cent in the current financial year and 7.5 per cent in the next fiscal.

SEBI asks listed firms to split CMD post by 2020

SEBI has asked listed companies to split the post of Chairman and Managing Director by April 2020. It has also made it compulsory for them to have six independent directors on board, including a women director.

• For implementation of changes with regard to split of CMD post, SEBI has set a deadline of April 1, 2020. The deadline for independent directors and other rules is April 1, 2019.

IRDAI lists 16 cross-border reinsurers for FY19

The Insurance Regulatory and Development Authority of India (IRDA) has released the list of Cross Border Reinsurers (CBR) for the year 2018-19.

• According to guidelines on cross-border insurers issued by IRDAI, CBR refers to those reinsurers who do not have any physical presence in India and do reinsurance business with Indian insurance/reinsurance companies.

IRDAI relaxes norms for empanelled actuaries

Faced with a continuing shortage of actuaries, the Insurance Regulatory and Development Authority of India (IRDAI) has eased norms for empanelled actuaries, allowing them to undertake valuation of more than one insurer every quarter.

• Actuaries for life and general insurers will continue to remain separate. However, the IRDAI has allowed each actuary for general insurers to work with as many as three firms in each quarter. This can include one standalone health insurer, one general insurer and one general insurance business of a reinsurer.
• Similarly, actuaries undertaking valuations of life insurers are now allowed to work with one life insurer and one life insurance business of a reinsurer in each quarter.

AWARDS

Bharat Biotech receives National Technology Award for Rotavac

Leading vaccine maker Bharat Biotech on Friday received the National Technology Award for 2018 from the Central government’s Technology Development Board for its Rotavac vaccine.

IMPORTANT DAYS

National Technology Day being celebrated in country today

The 20^th National Technology Day is being celebrated in the country on May 11, 2018. On this day in 1998, India successfully tested its nuclear bombs in Pokhran, Rajasthan.

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