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One Liners Weekly Updates (03rd July - 08th July) 2017 : Download Now


Dear Readers, The one liner of the week is a recap of the important happenings that occurred between 03 July and 08 July 2017. The important happenings of the week covered in this segment include App to verify the accurate tax rate under GST, science-meets-art fete and 22nd Asian Athletics Championships among others.

BANKING & ECONOMY
  • GST Council cuts tax rate on fertiliser to 5 % from 12 %.
  • RBI report sees India's economic growth rate at 7.3% in 2017-18.
  • Government imposes 10% customs duty on imported mobile phones, parts.
  • The govt’s information dispensation arm, Press Information Bureau, has launched a special webpage for the Goods and Services Tax.
  • The Brihanmumbai Municipal Corporation (BMC) received the first payout of 647 crore as compensation for the revenue it will lose following the introduction of the goods and services tax (GST).
  • HDFC ERGO General Insurance Company Ltd has been authorized by Government of Andhra Pradesh to implement Weather Based Crop Insurance Scheme (WBCIS) for loanee and non-loanee farmers.
  • The Employees’ Provident Fund Organization (EPFO) has inked an agreement with four private banks and Bank of Baroda for the purpose of collection of provident fund dues from the employers and payments to its subscribers. This is the first time the EPFO has roped in private banks, namely, ICICI Bank, HDFC Bank, Axis Bank and Kotak Mahindra Bank.
  • FINO Payments Bank has commenced operations as a payments bank with effect from June 30, according to the Reserve Bank of India. FINO PayTech Ltd, Navi Mumbai, was one of the 11 applicants which were issued in-principle approval for setting up a payments bank.
  • National Multi Commodity Exchange (NMCE), India’s first demutualised online  national multicommodities exchange will merge with Indian Commodity Exchange (ICEX). The merged entity will create India’s third biggest commodity exchange
  • Reliance Jio launches world’s longest 100Gbps submarine cable system.
  • The United Forum of Bank Unions has decided to observe July 19, the 48th anniversary of nationalization of major banks, as ‘Save Public Sector Banks’ Day.
  • As per analysis of the latest figures compiled by the Zurich based SNB (Swiss National Bank) as on 2016-end, India has slipped to the 88th place in terms of money parked by its citizens with Swiss banks.
  • BMI Research pegs India’s GDP growth at 6.9% this fiscal.

NATIONAL NEWS
  • The Indira Gandhi National Open University (IGNOU) announced exemption of fees for its transgender students of all programmers.
  • India has been ranked 23rd out of 165 nations in the second Global Cyber security Index (GCI) that measures the commitment of nations across the world to cyber security.
  • Oracle picks Bangalore for its first digital hub in Asia-Pacific.
  • According to the research conducted by the Centre for International Development at Harvard University (CID), India will be the base to the economic pole of global growth over the coming decade.
  • As per the official figures published by the UK’s Department for International Trade, India has become the fourth largest foreign investor into the UK in 2016-17.
  • Siemens opened its first digital factory in India, also the third globally after one each in Germany and China, as the industrial conglomerate pitches smart facilities to small and medium scale enterprises in the country.
  • The HRD Ministry has decided to remove the no-detention policy for students from the next academic year.
  • India has declared itself free from Bird Flu (highly pathogenic Avian Influenza – H5N1 and H5N8) and notified it to the World Organization for Animal Health.
  • The 10TH India-Jordan Trade and Economic Joint Committee (TEJC) Meeting was held in New Delhi.
  • External Affairs Minister Sushma Swaraj has inaugurated  the 9th edition of Delhi Dialogue.
  • Union Minister of State for Power, Coal, New & Renewable Energy and Mines, Piyush Goyal has launched the ‘MERIT app (Merit Order Despatch of Electricity for Rejuvenation of Income and Transparency)’ and the e-bidding portal for offering an e-Bidding solution to States.
  • The Union Ministry of Power has announced that about 97% of the total outstanding debt of all state power distribution companies (discoms) has been covered under the Ujwal DISCOM Assurance Yojana (UDAY).
  • A photographer named Nilanjan Ray is believed to have spotted a rare ‘white tiger’ with a pale skin color for the first time in the Nilgiris. The discovery has aroused interest among conservationists and forest officials.
  • A new fast-growing Israeli flower was named after Prime Minister Narendra Modi, in a special gesture to mark the first visit of an Indian premier to the Jewish nation.
  • New Delhi-based The Energy Resources Institute (TERI) was ranked second among World’s Best Climate Think Tank by the International Centre for Climate Governance (ICCG).

STATE NEWS
  • Telangana to have separate agriculture budget from next year.
  • The Karnataka govt has launched the ‘Elevate 100’ scheme to identify and nurture innovative start-ups.
  • With an aim to save the River Narmada, the Madhya Pradesh govt carried out a drive to plant six crore saplings in 12-hours along the banks of river Narmada.
  • JIGYASA, a student- scientist connect program was jointly launched by CSIR & KVS in New Delhi.
  • President Pranab Mukherjee has approved the promulgation of The Prevention of cruelty to Animals (Karnataka Amendment) Ordinance, 2017 by the Governor of Karnataka in pursuance of Article 213 of Constitution.
  • The Assam govt is going to raise a new Special Rhino Protection Force (SRPF) for better protection of the one-horned rhinos in Assam.
  • Union Minister of State for Skill Development and Entrepreneurship Rajeev Pratap Rudy and MP Chief Minister Shivraj Singh Chouhan laid the foundation stone of the country’s biggest Global Skill Park in Bhopal.
  • A joint military training exercise Maitree 2017 between Indian Army and Royal Thailand Army commenced at Bakloh in Chamba district in Himachal Pradesh.
  • China based Asian Infrastructure Investment Bank (AIIB) announced its approval to a $329 million loan to build access roads across 4,000 villages in Gujarat.

INTERNATIONAL NEWS
  • The World Health Organization (WHO) has declared the end of the most recent outbreak of Ebola virus disease (EVD) in the Democratic Republic of Congo (DRC).
  • 5th Meeting of BRICS Ministers of Education was held in Beijing, China.
  • 12th G20 Summit held in Hamburg, Germany.
  • 122 countries approved the first-ever treaty to ban nuclear weapons at the UN meeting.
  • The United States of America (USA) has rolled out pre-approved expedited entry clearance for low-risk Indian travelers under its Global Entry programme (GEP).
  • North Korea has claimed that it has successfully test-fired its first intercontinental ballistic missile (ICBM) Hwasong-14 into waters near Sea of Japan.
  • Pakistan has successfully test-fired short-range surface-to-surface ballistic missile 'Nasr'.
  • The United States has decided to present a draft resolution in the U.N. Security Council aimed at imposing new sanctions on North Korea as it has successfully launched its first intercontinental ballistic missile (ICBM).

SCIENCE & DEFENSE
  • India successfully test-fired it’s indigenously developed quick reaction surface-to-air short range missile (QR-SAM).
  • NASA is developing Double Asteroid Redirection Test (DART), the first-ever mission that will deflect a near-Earth asteroid.
  • Scientists from Physikalisch-Technische Bundesanstalt (PTB) in Germany have developed the world’s sharpest laser with record-breaking precision.

APPROVALS & MOU's
  • The Union Govt and Asian Development Bank (ADB) have signed a $220 million loan agreement for improving connectivity as well as transport efficiency and safety on State Highways of Rajasthan.
  • Skype Lite integrated with Aadhaar.
  • India and Israel have signed 7 agreements on areas including space, tech and agriculture during the visit of Prime Minister Narendra Modi to Israel.
  1. MoU for setting up of India-Israel Industrial R&D & Technological Innovation Fund (I4F)
  2. MoU for conservation of water in India
  3. MoU on State Water Utility Reform in India
  4. India-Israel Development Cooperation- 3-year work program in Agriculture (2018-2020)
  5. Plan of cooperation regarding cooperation in atomic clocks
  6. MoU regarding cooperation in GEO-LEO optical link.
  7. MoU regarding cooperation in electric propulsion for small satellites.
  • South Indian Bank has tied up with PFG Forex for remittance facility for the benefit of Indian expatriates from Australia.
  • Indus OS has partnered with YES Bank to launch OS-integrated UPI (Unified Payment Interface) payment platform in India.
  • Zen Technologies Ltd has entered into a memorandum of understanding with the School of Computer and Information Sciences (SCIS), University of Hyderabad (UoH). It aims to bring in academy and industry collaboration.

APPOINTMENTS
  1. New NDRF Chief - Sanjay Kumar 
  2. New Chief Election Commissioner -      Achal Kumar Joti
  3. Himachal Pradesh DGP - Somesh Goyal
  4. Next Ambassador of India to Indonesia - Pradeep Kumar Rawat
  5. Tata Global Chairman - N Chandrasekaran     
  6. IIT-Kharagpur chairman - Sanjiv Goenka
  7. WHO Goodwill Ambassador for   Autism in South Asia - Saima Wazed Hossain

BOOKS & AUTHORS
  • PM releases photo book titled “President Pranab Mukherjee – A Statesman”.

AWARDS
  1. Mahesh Muralidhar Bhagwat, IPS officer from Telangana was conferred with the 2017 Trafficking in Persons (TIP) Report Heroes Award by the Unites States Department of State.
  2. India won the Asian snooker team championship at Bishkek, Kyrgyzstan.
SPORTS
  • Four-time FIFA World Cup winner Germany won maiden FIFA Confederation Cup Football title by defeating Copa America Champion Chile by 1-0 goals in the final match held at St Petersburg, Russia.
  • As per the updated FIFA world football rankings, the Indian national football has managed to secure the 96th spot moving up four places.
  • Rio Olympics silver medallist P V Sindhu was bestowed with the Sportsperson of the Year award during the ‘Maruti Suzuki Sportsperson of the Year’ Charity Gala Awards.
  • Manpreet Kaur and Govindan Laxman have managed to win gold medals in Asian Athletics Championships held at Kalinga Stadium of Bhubaneshwar.
IMPORTANT DAY
  • 01th July                  - Chartered Accountants’ Day
  • 02nd July                 - World UFO Day
  • 07th July                  - World Chocolate Day



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