11 June 2019 - Daily Current Affairs

1. Dr Virendra Kumar to be pro tem speaker of 17th Lok Sabha

Seven-time MP Virendra Kumar (65 years) is set to be the pro tem speaker (temporary Speaker) of the 17th Lok Sabha.
Bharatiya Janata Party leader Virendra Kumar is likely to be administered the oath of office at Rashtrapati Bhavan on 17th June 2019.
Virendra Kumar was elected to the 11th (1996), 12th, 13th, 14th, 15th, 16th and 17th Lok Sabha continuously.
The election for the speaker will be held on 19^th June 2019.
President Ram Nath Kovind will address the joint sitting of both Houses of Parliament in the Central Hall at 11 am on 20th June 2019.

Note:

The Pro-tem Speaker is a temporary speaker appointed for a limited period to conduct the works in Lok Sabha or in state legislatures.
The Speaker of the Lok Sabha is the presiding officer of the Lok Sabha (House of the People), the lower house of the Parliament of India.

2. R K Chibber appointed the interim chief of J&K Bank

The Jammu and Kashmir (J&K) government has removed J&K Bank Chairman Parvez Ahmad.
Executive president R K Chibber has been appointed as interim Chairman cum Managing Director of the Board with immediate effect.
As on 5^th March 2019, The bank has a network of 935 computerized bank branches, 1287 ATMs and 25 Cash deposition Machines (CDM) across the country.

Note:

The Jammu and Kashmir Bank was founded on 1 October 1938 under letters patent issued by the Maharaja of Jammu and Kashmir, Maharaja Hari Singh.
On November 22^nd2018, the Governor-led State Administrative Council (SAC) had approved the proposal for treating Jammu and Kashmir Bank Limited as a Public Sector Undertaking (PSU).

Source: The Hindu Business Line

3. Justice Prashant Kumar appointed as acting CJ of Jharkhand HC

Hon'ble Justice ‘Prashant Kumar’ has been appointed as the acting chief justice of the Jharkhand High Court.
Earlier, incumbent chief justice of the Jharkhand High Court Dhirubhai Naranbhai Patel has been appointed as the chief justice of the Delhi High Court.

Note:

The Jharkhand High Court was established in 2000 (15^th November) under the Bihar Reorganisation Act, 2000, after the state of Jharkhand was carved out of the state of Bihar.

Honours & Awards

4. Equator Prize 2019 winners announced for local innovative climate solutions

The UN Development Programme (UNDP) and partners announced the winners of the 10th Equator Prize, recognizing 22 local and indigenous communities from across the world.
The winning organizations, which showcase innovative, nature-based solutions for tackling climate change, environment, and poverty challenges.
Equator Prize winners will each receive US$10,000 and the opportunity for two community representatives to join a week-long summit in New York during the 74th United Nations General Assembly.
The women groups of the Deccan Development Society, Telangana also have bagged the prize.

Banking and Finance

5. FDI in services sector up 37% in 2018-19

Foreign direct investment (FDI) in the services sector contributes over 60% to the gross domestic product (GDP).
According to the Department for Promotion of Industry and Internal Trade (DPIIT), Foreign direct investment (FDI) in the services sector grew 36.5% to USD 9.15 billion in 2018-19 (USD 6.7 billion in 2017-18).
The union government has taken several measures like fixing timeliness for approvals and streamlining procedures to improve ease of doing business in the country and attract foreign investments.
The sector accounts for about 18% of the total FDI India received between April 2000 and March 2019.
The overall FDI inflows declined for the first time in the last six years in 2018-19.
A strong inflow of foreign investments helps improve the country’s balance of payments situation and strengthens the value of rupee against global currencies, especially the United States (US) dollar.

Note:

A foreign direct investment (FDI) is an investment in the form of the controlling ownership in a business in one country by an entity based in another country.

Types of FDI

Horizontal FDI arises when a firm duplicates it's home country-based activities at the same value chain stage in a host country through FDI.
Platform FDI Foreign direct investment from a source country into a destination country for the purpose of exporting to a third country.
Vertical FDI takes place when a firm through FDI moves upstream or downstream in different value chains.

Source: Business Line

6. RBI imposes Rs 2 crore penalty on Kotak Mahindra Bank

The Reserve bank of India (RBI) has slapped a penalty of Rs. 2 crores on Kotak Mahindra Bank for the non-state lender’s failure to adhere to the regulator’s diktat on promoter shareholding.
RBI has been engaged in a dispute with Kotak Mahindra since 2014 over its failure to meet the milestone for stake reduction by Uday Kotak, the billionaire promoter of the bank.

National Affairs

7. S Jaishankar flags off the first batch of Kailash Mansarovar Yatra

External Affairs Minister S Jaishankar has flagged off the first batch of Kailash Mansarovar Yatra -2019 in New Delhi.
The duration of the Yatra is 24 days for each batch including three days in Delhi for preparatory work.
The Yatra is organized by the External Affairs Ministry every year between June and September.
There are two routes for Yatra-through Lipulekh pass (Uttarakhand) and through Natu La pass (Sikkim).
The route through Lipulekh Pass will be conducted in 18 batches of 60 pilgrims each.
The route through Nathu La Pass, Sikkim is motorable and suitable for senior citizens unable to undertake arduous trekking.

Kailash Mansarovar Yatra:

Devotees of Lord Shiva visit the snow-clad peaks in the Himalayas to pay him a visit and seek his blessings.
It is open to eligible Indian citizens, holding valid Indian passports, who wish to proceed to Kailash-Manasarovar for religious purposes.

8. ICAT releases India’s 1st BS – VI Certificate in the two-wheeler segment

International Centre for Automotive Technology (ICAT) has released India’s first Type Approval Certificate (TAC) for Bharat Stage – VI (BS – VI) norms that are the latest emission norms as notified by the Government of India for the two-wheeler segment.
The certificate was released and handed over by Dinesh Tyagi (Director ICAT) to top officials of the OEM (Original Equipment Manufacturers).
From 1st April 2020, Bharat Stage (BS)- VI norms are the automotive emission norms to be implemented to curb the growing menace of air pollution through the vehicle’s emission.
International Centre for Automotive Technology (ICAT) is the premier testing and certification agency authorized by the Ministry of Road Transport and Highways for providing testing and certification services to the vehicle and component manufacturers in India and abroad.

Source: AIR News

9. Narendra Modi accepts Macron's invite to attend the outreach session of G7 Summit

Prime Minister Narendra Modi has accepted an invitation from French President Emmanuel Macron to attend the outreach session of the G7 Summit in Biarritz as a special invitee.
According to External affairs ministry Raveesh Kumar, the invitation is a reflection of the personal chemistry between the two leaders.
The G7 summit (45th) will be held on 25–27 August 2019, in Biarritz, Nouvelle-Aquitaine, France.

International Affairs

10. UAE Cabinet adopts "National Strategy for Wellbeing 2031"

The United Arab Emirates (UAE) Cabinet adopted the ‘National Strategy for Wellbeing 2031’ during its meeting at the Presidential Palace in Abu Dhabi.
One of the most important initiatives is the development of the first 'National Wellbeing Observatory' to support the policymaking process.
The strategy is based on a national framework of three main levels - individuals, society and the country.
It includes 14 components and nine strategic objectives, which include enhancing people's wellbeing by promoting healthy and active lifestyles, promoting good mental health and adopting positive thinking.

Source: Gulf News

Obituaries

11. Comedy legend Crazy Mohan passes away

Popular Tamil playwright and theatre and film comedian 'Crazy' Mohan (67-years) passed away in Chennai’s Kauvery Hospital.
He tried his hand in writing, wrote over 100 short stories, 30 plays, worked on over 40 films including Kamal Haasan-starrer "Avvai Shanmugi", "Vasool Raja MBBS", and "Michael Madhana Kamarajan", and others.
Crazy Mohan was a recipient of Tamil Nadu State Government's Kalaimamani Award for his excellence in the fields of arts and literature.

Source: The Hindu

12. Former Puducherry C M R V Janakiraman passes away

Former Puducherry chief minister and DMK leader R V Janakiraman (78-years) passed away in a private hospital in Puducherry.
Mr. Janakiraman had served as Puducherry chief minister between 1996 and 2000.
He had been elected from Nellithope constituency for five consecutive terms (1985, 1990, 1991, 1996 and 2001).
He lost the polls to AIADMK candidate Om Sakthi Sekar in 2006.

Source: The Hindu

Art & Culture

13. Mela Kheer Bhawani celebrated in J&K

The annual ‘Mela Kheer Bhawani’ was celebrated with religious fervour and gaiety at Tulmulla area of central Kashmir’s Ganderbal district and Kupwara.
‘Mela Kheer Bhawani’ is the most important festival of Kashmiri Pandits, associated with Hindu Goddess ‘Ragnya Devi’.
The annual festival is held on Jesht Ashtami (May-June) when Kashmiri pandits visit the place in large number to offer prayers to seek the blessings of the deity.

Note:

Mela Kheer Bhawani is one of the biggest religious functions of the displaced community of Kashmiri Pandits, who migrated from Valley in 1990.
The devotees carry rose petals, walk barefoot, offer tribute to the goddess and offer milk and kheer (pudding) at sacred spring.

Source: The Times of India

Sports

14. Yuvraj Singh announces retirement from International Cricket

Indian cricketer Yuvraj Singh (37-year) announced his retirement from all forms of cricket.
Yuvraj will be pursuing a freelance career in ICC approved foreign Twenty20 leagues.
First time in Twenty20 cricket, Yuvraj hit 6 sixes in one over off Stuart Broad in a super-8 match against England at Durban.
He was the vice-captain of the Indian ODI team between 2007–2008.
The veteran cricketer has amassed over 11,000 international runs in the 304 ODIs, 40 Tests, and 58 T20Is that he has played.
Yuvraj Singh last represented India in June 2017, against the West Indies.