Daily Current Affairs 16th May, 2018

Daily Current Affairs 16 May 2018 for Banking/Insurance/SSC and other related exams.


List of Cabinet Approvals on May 16, 2018

The Union Cabinet Chaired by Prime Minister Shri Narendra Modi on May 16, 2018 approved a series of MoUs signed between India and various nations in different fields. The list of cabinet approvals is given below.

  • Apprised Memorandum of Understanding (MoU) between the Indian Railways and SNCF Mobilites (a company owned by the French State) on Technical Cooperation in the field of Railways
  • Ex-post facto approval for signing of the MoU for cooperation in the legal field between India and Morocco, in order to share their experience and expertise in the field of law and legislation as well as mining and geology
  • Ex-post-facto approval for the MoU between the India and Swaziland on cooperation in the field of Health and Medicine
  • Approved the MoU between India and Suriname on cooperation in the field of electoral management and administration
  • Ex-post facto approval to the MoU between India and Equatorial Guinea for Cooperation in the field of Traditional Systems of Medicine, cooperation in the field of Medicinal Plants
  • Approval to the signing of MoU between India and Colombia on establishing cooperation on Traditional Systems of Medicine of India
  • Approved the signing and ratification of Agreement between India and Brunei Darussalam for the Exchange of Information and Assistance in Collection with respect to Taxes

Other Important Approvals

  • Approved extension of Delhi Metro’s Blue Line service from Noida City Centre to Noida Sector 62 to enhance public transport infrastructure in NOIDA
  • Establish the National Institute of Mental Health Rehabilitation (NIMHR) in Bhopal
  • Set up a central university in Andhra Pradesh and approved a provisioning of Rs 450 crore for its first phase
  • Set up of a new All India Institute of Medical Sciences (AIIMS) in Deoghar, Jharkhand under the Pradhan Mantri Swasthya Suraksha Yojana (PMSSY)
  • Development of Trunk Infrastructure Components for Integrated Multi-Modal Logistics Hub known as “Freight Village” at Nangal Chaudhary in Haryana under Delhi Mumbai Industrial Corridor Project.
  • Approved National Policy on Biofuels – 2018.

Cabinet approves Rs 5000 cr for Micro Irrigation Fund with NABARD under PMKSY 

The Cabinet Committee on Economic Affairs chaired by the Prime Minister, Shri Narendra Modi has approved an initial Corpus of Rs.5,000 crore for setting up of a dedicated “Micro Irrigation Fund” (MIF) with NABARD under Pradhan Mantri Krishi Sinchayee Yojana (PMKSY).

  • The allocation of Rs. 2,000 crore and Rs. 3,000 crore will be utilised during 2018-19 and 2019-20 respectively.
  • Borrowings from NABARD shall be paid back in 7 years including the grace period of two years.

Telangana CM proposes to introduce new insurance scheme for farmers

Telangana Chief Minister K Chandrasekhar Rao has proposed to introduce a new insurance scheme for the benefit of farmers.

  • Under the new scheme, whatever is the reason, when the farmer dies the family would immediately get Rs five lakh as insurance amount.

IIM-Ahmedabad Launches Bharat Inclusive Initiative

Top management institute IIM-Ahmedabad has launched the Bharat Inclusion Initiative, which aims to invest about USD 25 million in startups working in the areas of financial inclusion, livelihood, education and health over the next three to four years.

  • The initiative has been launched by the institute’s Centre for Innovation, Incubation and Entrepreneurship (CIIE) and aims to helps entrepreneurs turn ideas into viable businesses.

First All-Woman Post Office Passport Seva Kendra Starts Operations

In a first, a Post Office Passport Seva Kendra (POPSK) run by an all-woman team has started operations in Punjab’s Phagwara. Union Minister Vijay Sampla inaugurated the seva kendra in the local head Post Office.

  • It is 192nd POPSK in the country, but first one to be operated by an all-woman team.

International Rail Coach Expo to be hosted by Integral Coach Factory Chennai 

For the first time an International Rail Coach Expo (IRCE) to focus on Rail Coaches and train sets, is being held in Chennai, Tamil Nadu, from 17th to 19th May, 2018, in the ICF RPF Parade Grounds, Chennai.

  • The expo is being hosted by Integral Coach Factory, popularly known as ICF, under the Ministry of Railways, in coordination with CII (Confederation of Indian Industries) and RITES Ltd. a PSU under Ministry of Railways
  • The unique platform will bring different suppliers under one roof and create synergy for “Make in India”.

Suresh Prabhu launches Intellectual Property mascot – IP Nani 

The Minister of Commerce and Industry Shri Suresh Prabhu launched the Intellectual Property (IP) mascot – IP Nani – at the conference on National Intellectual Property Rights Policy in New Delhi. An anti-piracy video featuring Mr. Amitabh Bachchan was also launched by the Minister at the event.

  • Mascot IP Nani is a tech-savvy grandmother who helps the government and enforcement agencies in combating IP crimes with the help of her grandson “Chhotu” aka Aditya.
  • The IP mascot will spread awareness about the importance of Intellectual Property Rights (IPRs) among people, especially children, in an interesting manner.

Indore the cleanest city, followed by Bhopal and Chandigarh: Swachh Survekshan 2018

Indore has emerged as the cleanest city, followed by Bhopal and Chandigarh in the government’s cleanliness survey, Swachh Survekshan 2018.

  • Jharkhand was adjudged the best performing state in the survey followed by Maharashtra and Chhattisgarh.


YES Bank launches Agenda 25×25 to for budding women entrepreneurs

YES BANK and YES Global Institute announced the launch of Agenda 25×25, which pledges to create a synergetic startup environment for budding women entrepreneurs in India.

  • The initiative aims at ensuring that by 2025 at least 25% of all Entrepreneurs in India are Women.
  • The announcement was made at the YES BANK – YES Global Institute ‘Annual Startup Conclave’ hosted in partnership with NITI Aayog, Invest India, Startup India and Atal Innovation Mission.


Author Tom Wolfe dead at 88

Virginia based award winning writer and journalist Tom Wolfe, who is noted for works like “The Bonfire of the Vanities”, “The Right Stuff” and “The Electric Kool-Aid Acid Test” has passed away in the US. He was 88.

Actor Who Played Lois Lane In Superman Dead At 69

Margot Kidder, who found fame as Lois Lane in the 1978 film “Superman,” died at her home in Montana, US. She was 69 years old.


International Day of Families observed on 15 May

The International Day of Families is observed on the 15th of May every year at the headquarters of United Nations and around the world.

  • The day was officially announced in 1993 by the UN General Assembly with resolution A/RES/47/237 and demonstrates the significance which the global community attaches to families.
  • The day aims to spread awareness about the issues that relate to families and to enhance knowledge of the economic, demographic and social processes that affects the families.
  • Theme for 2018 is “Families and inclusive societies”

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