Daily Current Affairs 27th June, 2017

Daily Current Affairs 27th June 2017

India Signs Loan Agreement with the World Bank for USD 35 Million for “Assam State Public Financial Institutional Reforms Project”

India has signed an agreement for IBRD Credit of USD 35 Million with World Bank for “Assam State Public Financial Institutional Reforms Project”.

  • The programme size is USD 44 million, of which USD 35 million will be financed by the Bank, and the remaining amount will be funded out of State Budget. The programme duration is 5 years.

UP govt signs pact with ADB for strengthening of roads

Uttar Pradesh Government has signed an agreement with Asian Development Bank ADB for a loan of 1950 crore rupees for strengthening of roads in different district.

  • As per agreement, ADB will provide the loan amount for Uttar Pradesh Main District Roads Development Project of 2782 crore rupees cost. State government will spend 832 crore rupees form its own resources on the project.

* UP Chief Minister Yogi Adityanath and ADB President Takehiko Nakao.

World’s first ATM turns 50

The brainchild of Scottish inventor Shepherd-Barron, the first ATM (automated teller machine) was opened on June 27, 1967, at a branch of Barclays bank in Enfield, north London. The world’s first ATM was turned into gold for celebrations of its fiftieth anniversary.

India likely to adopt Jan-Dec financial year from 2018

India could shift to a January to December financial year from 2018, as the Centre appears set to make the historical transition to end the 150-year-old tradition of an April to March fiscal.

Accordingly the next Union Budget could be presented by the Narendra Modi-led National Democratic Alliance in November this year.

  • This would be another historic change after advancement of the budget presentation to 1 February this year, ending the decades-old practice of presenting the annual exercise in the last week of February.
  • The financial year from 1 April to 31 March, currently in vogue nationally, was adopted in 1867 principally to align the Indian fiscal with that of the British government. Till then, the financial year in India used to commence on 1 May and end on 30 April of the following calendar year.
  • Madhya Pradesh became the first state to announce shifting of its financial year format to January-December from 2018.

Kalraj Mishra launches Digital MSME Scheme

Ministry of Micro, Small and Medium Enterprises has launched a Digital MSME Scheme to further boost Ministry’s efforts towards making Digital India Mission successful.

SAP India, MSME Ministry join hands to launch Bharat ERP

Software major SAP India has signed a memorandum of understanding with the Ministry of Micro, Small and Medium Enterprises (MSME) to jointly launch Bharat ERP — a programme to empower small businesses digitally.

  • As a part of the MoU, SAP India and the Ministry of MSMEs will collaborate to enable MSMEs become future-ready by helping them focus on innovation and business profitability

Andhra Pradesh State Government Employees retirement age raised

Andhra Pradesh State Government Employees will be working until they attain 60 years as their Retirement has been raised from 58 to 60 Years. Bill to this effect was passed by AP Assembly this week.

Kaushik Basu is new International Economic Association president

The Finance Ministry’s former Chief Economic Advisor Kaushik Basu has taken over as President of the International Economic Association (IEA).

  • Basu has also served as Senior Vice-President and chief economist at the World Bank from 2012 to 2016 and as the Chief Economic Adviser to the Government of India from 2009 to 2012.

Indian men’s & women’s throwball teams bag gold medals in World Games

The Indian men’s & women’s throwball teams bagged a gold medal each in the World Games, held at Kathmandu, Nepal.

  • This was the first time that the Indian teams had participated in these Games, which took place from June 15 to 18.

Former Indian hockey captain Dhanraj Pillay to get Bharat Gaurav

Former India hockey captain Dhanraj Pillay will be conferred East Bengal football club’s highest honour — Bharat Gaurav — at its foundation day ceremony on August 1.

Apple acquires German eye-tracking company

Apple has confirmed its acquisition of SensoMotoric Instruments, a German computer vision company specialising in augmented reality (AR) and eye tracking.

US to declare China among worst human trafficking offenders

The Trump administration is poised to declare China among the world’s worst offenders on human trafficking, putting the world’s most populous country in the same category as North Korea, Zimbabwe and Syria.

  • China will be listed under Tier 3, the ranking system’s lowest category, which applies to countries failing to meet minimum standards to prevent human trafficking or making significant improvement efforts. Other countries that have recently been on that list include Sudan, Iran and Haiti.

US designates Hizbul chief Syed Salahuddin as global terrorist

The USA has designated Pakistan-based Hizb-ul-Mujahideen chief Syed Salahuddin as a specially designated global terrorist.

  • The move by the US state department came before the first meeting between Prime Minister Narendra Modi and President Donald Trump at the White House

Romanian President appoints new Prime Minister

Romanian President Klaus Iohannis has appointed Social Democrat Mihai Tudose as Prime Minister and mandated him to form a new government.

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