India, Pakistan Become Full Members Of Shanghai Cooperation Organisation
India and Pakistan became full members of the Shanghai Cooperation Organisation (SCO),With the inclusion of India and Pakistan, SCO now represents over 40% of world population and nearly 20% of the global GDP.
2017 SCO theme : – “Future Energy”.
- The SCO was founded at a Summit in Shanghai in 2001 by the Presidents of Russia, China, Kazakhstan, Kazakhstan, Tajikistan, and Uzbekistan.
- SCO is regarded as a counterweight to the North Atlantic Treaty Organisation (NATO).
President Pranab Mukherjee launches ‘Selfie with Daughter’ mobile app
President Pranab Mukherjee today launched the ‘Selfie with Daughter’ mobile application, aimed at raising awareness about female foeticide and sex selection.The campaign was started by Sunil Jaglan in June 2015 in village Bibipur in Haryana’s Jind district.
SBI cuts interest rate on home loans above Rs 75 lakh by 10 bps
The State Bank of India, country’s largest lender cut the interest rate on home loans above Rs 75 lakh by 10 basis points (bps) to 8.60 percent. For salaried women borrowers, the loans will be offered at 8.55 percent.
According to SBI, the new rates will be effective from June 15. The home loan rates offered are lowest in the industry
- SBI was established in 1955
- Smt. Arundhati Bhattacharya is the Chairperson of SBI
- SBI is headquartered in Mumbai, Maharashtra.
Microsoft signs agreement to acquire Israeli security firm Hexadite
Ransomware attacks have prompted Microsoft to sign an agreement to acquire Hexadite.
ii. This deal cost $100 million. Hexadite is an Israeli startup that uses Artificial Intelligence to identify and protect against cyber attacks.
- CEO of Microsoft is Satya Nadella.
- Headquarters of Microsoft is in Washington D.C., USA.
Banking & Economic
Indian Overseas Bank launches retail mart in Thiruvananthapuram
Indian Overseas Bank (IOB), the Lead Bank for Thiruvananthapuram district, has launched the Retail Mart, a retail lending concept, in Kerala’s capital city.
The Retail Mart has been designed with an aim to complete all the pre-release formalities at the customer’s doorstep and sanction quality retail loans at a competitive rate of interest with a minimum turnaround time.
- Shri R. Subramaniakumar MD & CEO of IOB.
- IOB is headquartered in Chennai, Tamil Nadu.
Canara Bank ties up with New India Assurance Company
Canara Bank has inked pact with the state-owned general insurer The New India Assurance Company Ltd. to sell policies through its branches.
- New India Assurance Co Ltd is a 100 % Govt owned multinational general insurance company operating in 28 countries and headquartered at Mumbai.
- Mr. G. Srinivasan is the present Chairman cum Managing Director of New India Assurance Company.
- Canara Bank was founded as ‘Canara Bank Hindu Permanent Fund’ in 1906.
- Headquarter of Canara bank is in Bengaluru.
- Shri. T.N. Manoharan is the Chairman of Canara Bank.
Govt sets up 18 sectoral groups for smooth GST rollout
The government has set up 18 sectoral groups ,comprising senior members from the Centre and the States, to ensure the smooth rollout of the Goods and Services Tax
The 18 groups pertain to sectors such as banking and insurance, textiles, exports, information technology, transport, and oil and gas.
- The GST Council is headed by Finance Minister Arun Jaitley.
Appointments & Resign
Vikram Limaye as NSE chief
Capital market regulator SEBI has given conditional approval for the appointment of Vikram Limaye as the MD and CEO of the NSE.
- Ajay Tyagi is the Chairman of SEBI
- SEBI is headquartered in Mumbai
IOC approves new events for 2020 Tokyo Game
The International Olympic Committee has approved new events for the 2020 Tokyo Games, including a number of mixed gender competitions. The IOC’s Executive Board made the decision at a meeting in Lausanne, Switzerland. The choices reflect the IOC’s focus on gender equality and appeal to young people.
The additions include a mixed team event for judo. Table Tennis will also get a mixed doubles competition. The event was featured in the recent world championships in Germany. Three-on-three basketball is an example of the IOC’s focus on youth and urban sports.
- 2018 Olympic Winter Games will be held in PyeongChang.
- International Olympic Committee headquarters in Lausanne, Switzerland.
Eminent rights activist Mehrunnisa Dalwai passes away
Mehrunnisa Dalwai, a noted social activist and author, passes away In Maharashtra
Her autobiography, “Mi Bharun Pawle” is considered an inspirational piece for progressive movement.