Daily Current Affairs 9th May, 2018

Daily Current Affairs 9 May 2018 for Banking/Insurance/SSC and other related exams.


15th Finance Commission constituted advisory council

The 15th Finance Commission has constituted an advisory council to advise and assist the commission. The six-member council will be headed by the President of Forum for Strategic Initiatives, Arvind Virmani.

  • The role and functions of the council will be to advise the commission on any issue or subject related to the Terms of Reference (ToR) of the Commission.
  • The council will also assist the commission in the preparation of any paper or research study which will enhance the Commission’s understanding on the issues containing in its ToR.
  • The advisory council will help in broadening the commission’s ambit and understanding to seek best national and international practices on matters pertaining to fiscal devolution and improving the quality and reach and enforcement of its recommendations.


US President announces withdrawal from 2015 landmark nuclear deal with Iran

President Donald Trump has pulled the United States out of a landmark Iran nuclear deal and reimposed its economic sanctions against the country.

  • Britain, France, Russia and Germany have criticised US move to withdraw from the deal. On the other hand, Israeli Prime Minister Benjamin Netanyahu and Saudi Arabia have supported Mr Trump’s decision.
  • The historic nuclear deal was reached in Vienna in July 2015 between Iran and the five permanent members of the UN Security Council along with Germany and the European Union. The pact, lifted sanctions on Iran in exchange for Tehran limiting its nuclear program.

China launches new satellite to monitor air pollution

China has successfully launched a hyperspectral imaging satellite for comprehensive observation of the atmosphere, including air pollution which is one of the country’s major problems.

  • The Gaofen-5 satellite was launched off the back of a Long March 4C rocket from the Taiyuan Satellite Launch Center in northern Shanxi Province. It was the 274th flight mission by a Long March carrier rocket.
  • The satellite was developed and produced by China Aerospace Science and Technology Corporation can be used for comprehensive environmental monitoring. It has a designed life of eight years.

Xi Jinping tops The World’s Most Powerful People list of Forbes

Forbes has released a list of “The World’s Most Powerful People 2018” which consists of 75 men and women.

  • Xi Jinping, General Secretary of the Communist Party of China, seizes the top spot for the first time ever. Xi’s elevation to the world’s most powerful person unseats Russian President Vladimir Putin (#2), who held the top spot for an unprecedented four consecutive years.
  • Only two Indians got place in this list. Top Indian is PM Modi at 9th spot and another is Reliance Industries Chairman Mukesh Ambani at 32nd place in the list.


ALIMCO signs MoU with APCPL for giving out crutches, aids at Charkhi Dadri 

Artificial Limbs Manufacturing Corporation of India(ALIMCO), under Ministry of Social Justice & Empowerment and Aravali Power Company Pvt Ltd (APCPL),Jhajjar has signed a Memorandum of Understanding (MoU) for Distribution of Aids and Assistive Devices to Persons with Disabilities at Charkhi Dadri District of Haryana under the CSR initiative of APCPL.

  •  As per the MoU, Distribution camps will be organized at Charkhi Dadri District for an estimated cost of Rs 2 Crores.
  • In the Distribution Camps artificial limbs, aids & appliances such as Motorized Tricycles Tricycle, Wheel Chairs, BTE Hearing Aids, Crutch Axilla Adjustable, Braille Cane, MSIED Kit, Braille Kit, Smart Cane, Smart Phones etc. to Persons with Disabilities will be distributed.


IMF expects Indian economy to grow at 7.4 pct in FY19

The International Monetary Fund, IMF has reaffirmed that India will be the fastest growing major economy in 2018, with a growth rate of 7.4 per cent that will further rise to 7.8 per cent in 2019.

  • The IMF’s Asia and Pacific Regional Economic Outlook report said that India was recovering from the effects of demonetisation and the introduction of the Goods and Services Tax.


Indian Army’s military exercises ‘Vijay Prahar’ culminated

The Indian Army’s ‘Vijay Prahar’ exercise in which over 25,000 troops of the Jaipur based South Western command participated concluded in Rajasthan’s Suratgarh.

South Western Army Commander Lt Gen Cherish Mathson witnessed the final offensive of the forces achieving a decisive victory.


Carlos Alvarado sworn in as Costa Rican president

Journalist Carlos Alvarado has been sworn in as 48th President of Costa Rica. At 39, Alvarado is the country’s youngest president in modern history.

Alvarado, who won the second round of the presidential election on April 1, received the presidential sash from his predecessor, Luis Guillermo Solis.

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