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> Current Affairs Booster of May 2016
Daily Current Affairs- 8th June 2016
1. 8 June: World Oceans Day
1. The World Oceans Day is being observed globally on 8th June every year to raise global awareness of the current challenges faced by the international community in connection with the oceans.
2. The day also seeks to provide a unique opportunity to honour, protect, and conserve the world’s oceans.
3. “Healthy oceans, healthy planet”. The theme highlights main urgent need to curb the plastic pollution. To mark this day variety of activities and actions, such as beach clean-ups special outdoor explorations, educational and action programs and sustainable seafood events are organised.
2. RBI rates unchanged in 2nd bi-monthly monetary policy review for year 2016-17
1. The Reserve Bank of India (RBI) in its second bi-monthly monetary policy review for year 2016-17 has maintained status quo in key policy interest rate. The key policy interest rates were kept unchanged on the basis of an assessment of the current and evolving macroeconomic situation in the country. RBI has kept its stance on the credit policy accommodative.
2. Key policy rates are
Repo rate under the liquidity adjustment facility (LAF): unchanged at 6.75 per cent.
Reverse repo rate under the LAF: unchanged at 5.75 per cent. Marginal standing facility (MSF) rate and the Bank Rate has unchanged at 7.75 per cent.
Cash Reserve Ratio (CRR) of scheduled banks: Unchanged at 4.0 per cent of net demand and time liability (NDTL).
Growth forecast pegged at 7.6% for the current fiscal. Inflation target: It was kept unchanged at 5% for January 2017 with upward bias Public investment: It is gaining strength and continuing weakness in private investment is a concern.
3. International Monetary Fund approved 1.5 billion US dollar loan to Sri Lanka
1. The International Monetary Fund (IMF) on 7 June 2016 approved 1.5 billion US dollar loan to Sri Lanka. IMF has already transferred 168 million US dollars as the first Instalment with immediate effect to support the country’s economy.
2. The Executive Board of the IMF accepted this 36-month extended arrangement under its Extended Fund Facility (EFF) with Sri Lanka under special drawing rights.
3. Highlights of the Funding
• An early disbursement of about 168.1 million US dollars will be made immediately.
• The remaining amount will be settled in six installments on quarterly reviews.
• There will be an additional 650 million US dollars support in other multilateral and bilateral loans, bringing total support to about 2.2 billion US dollars.
3. Union Government launched Surya Mitra Mobile App
1. Union Power Minister Piyush Goyal launched Surya Mitra mobile App at National Workshop on Rooftop Solar Power in New Delhi on 7 June 2016.
2. The App will be very useful in the field of Renewable energy to serve customers at their doorsteps with quality installation, repair, and Observations and Measurements (O&M) services.
3. It is a high end technology platform that can handle thousands of calls simultaneously and can efficiently monitor all visits of Suryamitra’s.The trained Suryamitra’s who opts for entrepreneurship have joined in the Mobile App in several states.
4. India, ADB ink $120 million loan agreement for irrigation in Odisha
1. India has signed loan agreement of US 12 crore dollars with the Asian Development Bank (ADB) to improve irrigation and water management infrastructure in Odisha.
2. The soft loan is the second tranche of a 157.5 million dollars financing facility under the Orissa Integrated Irrigated Agriculture and Water Management Investment Program.
3. The programme aims to improve existing irrigation infrastructure, maintenance and operation and water use efficiency that will lead to higher agricultural productivity. The selected areas for the investment program are the Brahmani, Baitarani, Budhabalanga and Subernarekha river basins and part of Mahanadi Delta.
5. Father of modern Nepali music Ambar Gurung passes away
1. Father of modern Nepali music and composer of the country’s national anthem Amber Gurung passed away in Dhapasi. He was 79 and was suffering from diabetes and Parkinson’s disease.
2. Gurung was composer, lyricist and singer. He had composed Nepal’s National Anthem Sayaun Thunga Fulka Hami (written by Byakul Maila) and more than a 1,000 songs.
6. Union Government to form new reserve battalion named after Maharana Pratap
1. Union Home Ministry has decided to form new reserve battalion will be raised and it will be named after Maharana Pratap. It will be called Maharana India Reserve Battalion.
2. It was announced by Union Home Minister Rajnath Singh on the occasion of 475th birth anniversary of Maharana Pratap in Gogunda in Udaipur district. He also unveiled statue of Maharana Pratap in the ceremony.
7. Switzerland back India’s bid for NSG membership
1. India has managed to win crucial support from Switzerland for Nuclear Suppliers Group (NSG) membership. In this regard, Swiss President Johann Schneider-Ammann has announced his country’s support for India’s membership to the elite NSG.
2. India was able to gain support of Switzerland after Prime Minister Narendra Modi held comprehensive talks with Swiss counterparts during his official state visit.
8. Dia Mirza named ambassador for Swachh Saathi programme
1. Bollywood actress Dia Mirza was named as the ambassador for Swachh Saathi (student internship) programme.
2. She was selected because she is an active campaigner and a youth icon for Swachh Bharat (Clean India) Mission which seeks to make country clean .
3. As the ambassador, she would interact with college and school students from across the country through awareness sessions, motivational videos and community cleaning activities. She would mainly help the programme to reach out to more youngsters as it was aimed to make it youth led cleanliness movement.