Current Affairs Daily Updates: 6th July 2017

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Current Affairs Daily Updates: 6th July 2017
APPOINTMENTS
N Chandrasekaran appointed as Chairman of Tata Global Beverages Limited
  • Tata Global Beverages Limited appointed Natarajan Chandrasekaran as the Chairman of its board.
  • He will succeed Harish Bhat.
  • The Board has also appointed Siraj Azmat Chaudhry as Non-Executive Independent Director.
Pradeep Kumar Rawat appointed as the next Ambassador of India to Indonesia
  • Pradeep Kumar Rawat has presently a Joint Secretary in the Ministry of External Affairs (MEA) appointed as the next Ambassador of India to Indonesia.
  • Rawat, an Indian ForeignService (IFS) officer of the 1990 batch, is expected to take up his assignment.
BANKING AFFAIRS
South Indian Bank ties up with PFG Forex
  • South Indian Bank has tied up with PFG Forex for remittance facility for the benefit of Indian expatriates from Australia. The new facility will leverage the bank to reach the Indian diaspora.
  • Under this arrangement, NRIs can enjoy cost-effective and fast remittance services using SIB's Express facility. NRIs can visit the PFG Forex outlets across Australia for remittances to India. SIB is already having correspondent banking arrangement with National Australia Bank and Fly World Money Exchange for remittances to India.
Employment Provident Fund Organisation (EPFO) signs agreement with Five Banks
  • The Employees’ Provident Fund Organisation (EPFO) inked an agreement with four private banks and Bank of Baroda for the purpose of collection of provident fund dues from the employees and payments to its subscribers.
  • EPFO joined with the private banks, namely, ICICI Bank, HDFC Bank, Axis Bank and Kotak Mahindra Bank.
  • The Employee Provident Fund (EPF) is a retirement benefit applies only to salaried employees.
Axis Bank launches super bikes loans to fund largest loan amount
  • Axis Bank introduced a special Superbike loans for the bike.
  • The loans which are for Bikes with an engine displacement of over 500 cubic centi-meters(cc) will come at a price tag of 10-11% per annum.
  • These bikes come with a price tag between Rs 5 to Rs 50 lakhs.
BUSINESS AND ECONOMIC AFFAIRS
Yes Bank signs new agreement with Santander in United Kingdom
  • Yes Bank signed a Memorandum of Understanding (MoU) in London with Santander to promote India-UK trade and business opportunities.
  • The deal is aimed at Santander UK, a wholly-owned subsidiary of the Spanish Santander Group, offering its clients in Britain access to banking facilities and on-the- ground support through Yes Bank network across India.
  • Yes Bank is planning to build expertise as a “preferred host country bank” for multinational corporations.
INTERNATIONAL AFFAIRS
10th Session of the India- Jordan Trade and Economic Joint Committee (TEJC)
  • The 10TH India-Jordan Trade and Economic Joint Committee (TEJC) Meeting was held in New Delhi on 4th and 5th July, 2017 under the co-chairs of Smt. Nirmala Sitharaman, Minister of State (Independent Charge) for Commerce and Industry, Government of India, and H.E Eng. Mr. Yarub Qudah, Minister of Industry, Trade and Supply, the Government of the Hashemite Kingdom of Jordan.
  • On this occasion, the two countries emphasized the need for diversification of bilateral trade and deepening their engagements for greater cooperation in investment sector.
  • The two leaders also inked the revised Economic and Trade Cooperation Agreement between the Government of the Republic of India, and the Government of the Hashemite Kingdom of Jordan.
Fifth Meeting of BRICS Education Ministers held in China
  • The Meeting of BRICS Ministers of Education was held in Beijing, China.
  • The Indian delegation was led by Shri Prakash Javadekar, Minister of Human Resource Development, India.
  • The National Institutional Ranking Framework (NIRF), SWAYAM platform which has already hosted over 480 courses online, research initiative IMPRINT and Smart India Hackathon.
China-backed AIIB approves USD 329 million loan for Gujarat rural roads
  • China-led Asian Infrastructure Investment Bank (AIIB) board approved 329 million loans to build access roads to 4,000 villages in Gujarat.
  • The project will also better integrate rural population, tribal villages, business, and industries with the national and state economy through better transport connectivity.
  • AIIB is a multilateral development bank which commenced its operation in January 2016 and has now grown to 80 approved members from around the world.
NATIONAL AFFAIRS
Arunachal Pradesh celebrates Dree festival with traditional ethics
  • The Dree Festival of Arunachal Pradesh is an agricultural festival celebrated with the traditional pomp & gaiety.
  • It is the biggest festival of the Apatanis and celebrated with zest marked by sacrificial offerings and prayers.
  • The festival is marked by grand ritual and community feasts served with delicious rice/millet beer.
Union Ministry of Commerce & Industry inaugurated 10th Session of the India- Jordan Trade and Economic Joint Committee
  • The 10TH India-Jordan Trade and Economic Joint Committee (TEJC) Meeting was held in New Delhi under the co-chairs of Smt. Nirmala Sitharaman, Minister of State (Independent Charge) for Commerce and Industry, Government of India, and H.E Eng. Mr. Yarub Qudah, Minister of Industry, Trade and Supply, the Government of the Hashemite Kingdom of Jordan.
  • The roadmap for cooperation in various fields such as Fertilizer Sector, Customs, Double Taxation Avoidance Agreement, Visa and Consular issues, Health and Pharmaceuticals, Micro, Small and Medium Enterprises, Maritime Transport, Rail Transport, and Air Transport, Renewable Energy, Energy Efficiency, and Smart Grid development, Information Technology, Higher Education and Vocational Training, Agriculture sector.
Supreme Court asks Government to formalise Election Commissioners appointment through Law
  • The Supreme Court asked the Union government to formalize appointment of Election Commissioners through law.
  • According to the Supreme Court, at present due to lack of a parliamentary law, there is no transparency in the eligibility criteria of Election Commissioner.
  • The Chief Election Commissioner holds office for a term of 6 years.
India and Israel sign 7 agreements
  • India and Israel signed 7 agreements on areas including space, Technology, and Agriculture during the visit of Prime Minister Narendra Modi to Israel.
  • The seven Memorandum of Understanding (MoU) are
    • MoU for setting up of India-Israel Industrial R&D & Technological Innovation Fund (I4F)
    • MoU for the conservation of water in India
    • MoU on State Water Utility Reform in India India-Israel Development Cooperation- 3-year work program in Agriculture (2018-2020)
    • Plan of cooperation regarding cooperation in atomic clocks.
    • MoU regarding cooperation in GEO-LEO optical link.
    • MoU regarding cooperation in electric propulsion for small satellites.
SCIENCE AND TECHNOLOGY AFFAIRS
Trilateral Malabar exercise to kick off on July 10
  • The Malabar naval exercise involving Indian, American and Japanese navies will kick start on July 10 in the Bay of Bengal. A sizeable number of aircraft, naval ships and nuclear submarines of the navies of the three countries will be part of the annual exercise, considered a major war game in the region.
  • The aim of the Malabar exercise is to achieve deeper military ties and greater interoperability among the three navies in the strategically-important Indo-Pacific region. India and the US have regularly conducted the annual exercise since 1992.
SPORTS AFFAIRS
Pankaj Advani-led Indian team beat Pakistan to won Asian Snooker Championship
  • India’s leading cueist Pankaj Advani teamed up with Laxman Rawat to demolish Pakistan in the final of the Asian Team Snooker Championship in Bishkek, Kyrgyzstan.
  • He won the second Asian title this season and 8th overall title.
  • He is the only player not to lose a single individual match in the team event.