World’s second biggest celebrations of International Yoga Day to be held in China after India
In China, ahead of the third UN International Day of Yoga, thousands of Chinese would participate in scores of events organized across the country. As per the official report, it will the second biggest yoga day celebration in the world after India..
- The capital of China is Beijing and its Currency is Renminbi.
- The President of China is Xi Jinping.
- UN International Day of Yoga is celebrated on 21st of June.
China-led Asian Infrastructure Investment Bank has approved USD 150 million equity investment loan to the India Infrastructure Fund.
It is the bank’s first such loan to fund private projects.
India, South Korea agree to increase investment to push infrastructure, bilateral trade
The two countries have signed agreements to establish 9 billion US dollar in concessional credit and 1 billion dollars in Official Development Assistant, ODA funding for infrastructure development projects in India. With this, Republic of Korea became one of the first non-G-7 countries to become an ODA contributor in India.
2nd Annual Meeting of Board of Governors of the AIIB
The second annual meeting of the AIIB was held on June 16, 2017, in South Korea’s Jeju Island. The theme of this year’s annual meeting was “Sustainable Infrastructure”. During this second annual meeting of governors, AIIB approved the membership of Argentina, Madagascar, and Tonga.
India to host 2018 AIIB Annual Meeting The Board of Governors of the AIIB announced that the Bank’s third Annual Meeting of the Board of Governors will be held in Mumbai, India in June 2018.
- Asian Infrastructure Investment Bank (AIIB) is a new multilateral development bank founded to bring countries together to address the daunting infrastructure needs across Asia.
- AIIB headquarters in Beijing, China.
- Mr. Jin Liqun is the current President of AIIB.
- AIIB commenced its operation in January 2016 and has now grown to 80 approved members from around the world.
- India-Korea Financial Dialogue in Seoul
AIIB approves membership of Argentina, Madagascar, Tonga
The China-led Asian Infrastructure Investment Bank (AIIB) has approved the membership of Argentina, Madagascar, and Tonga at its second annual meeting of Governors.
The first meeting was held in Beijing in 2016. The approved applicants included one regional prospective member of Tonga and two non-regional members of Argentina and Madagascar.
- Asian Infrastructure Investment Bank (AIIB) headquarters in Beijing, China.
- Mr. Jin Liqun is the President of AIIB.
Banking & Economic
Government sets up GST facilitation cell in DIPP
The government has set up a GST facilitation cell in Department of Industrial Policy and Promotion (DIPP) to facilitate the rollout of Goods and Services Tax. The cell is headed by Economic Advisor Sudhansu Sekhar Das.The cell will remain in constant touch with major industry and business associations relating to the Department. It will be the first point of contact for addressing any issue being faced by any sector related to the Department.
- DIPP comes under the Government of India- Ministry Of Commerce & Industry.
- Smt. Nirmala Sitharaman is the Minister of State for Commerce and Industry (Independent Charge).
- The Department of Industrial Policy & Promotion was established in 1995 and has been reconstituted in the year 2000.
Atal Pension Yojana (APY) can now be subscribed digitally
Pension Fund Regulatory and Development Authority (PFRDA) has now introduced “APY@eNPS” which involves a complete digital enrolment process.
ii. This is the latest in the series of various initiatives taken by PFRDA for expansion of outreach of Atal Pension Yojana (APY),to give the additional push to cover the as yet unreached population with greater ease. PFRDA has conducted meetings with Banks and Dept of Post at Kolkata, Bengaluru & Mumbai respectively for the earliest roll out of the facility call.
- National Pension System (NPS) which is administered and regulated by Pension Fund Regulatory and Development Authority (PFRDA) created by an Act of Parliament.
- PFRDA is authorized by Ministry of Finance, Department of Financial Services.
- The Headquarter of PFRDA is in New Delhi.
RBI initiates Prompt Corrective Action against Bank of Maharashtra as NPA mounts
The Reserve Bank of India has initiated prompt corrective action (PCA) on Bank of Maharashtra placing a restriction on the banking activities. This RBI has said that the action is taken on the bank in view of the high level of bad loans.This is the sixth bank to be placed under PCA by the RBI and of this five banks were placed under PCA in the last three months. RBI has initiated PCA on Central Bank of India, IDBI Bank, UCO Bank, Dena Bank and Indian Overseas Bank. The move will restrict the bank from announcing the dividend, opening branches, hiring and giving loans to companies rated below investment grade.
- The Reserve Bank of India was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934.
- RBI was nationalized in 1949.
- R. P. Marathe is the Managing Director & CEO of Bank of Maharashtra.
- The Head Office of BoM is in Pune, Maharashtra.
Connaught Place is ninth most expensive office market in world, Mumbai lags
Connaught Place in the national capital is the most expensive prime office market in India Hong Kong (Central) became the world’s highest-priced office market
- In 1994, CBRE was the first international real estate services firm to set up an office in India.
The government has roped in Bollywood megastar Amitabh Bachchan to promote Goods and Services Tax (GST),
The Central Board of Excise and Customs (CBEC) will be making the 74-year-old Bachchan brand ambassador for GST. The megastar has been roped in just as the rollout of the biggest tax overhaul since independence entered its final phase. Ace badminton star PV Sindhu was previously the GST ambassador.
DGCA suspends Air Carnival’s flying permit
The Directorate General of Civil Aviation (DGCA) has suspended the flying licence of Coimbatore-based carrier Air Carnival,which has not operated a single flight since early April.
With this, Air Carnival has become the third regional carrier,after Air Pegasus and Air Costa, whose air operator permit has been suspended by DGCA in the last eight months. The DGCA has suspended Air Operator Permit (AOP) of Air Carnival after it failed to satisfy the regulator in its response to the show-cause notice.
- DGCA is the regulatory body governing the safety aspects of civil aviation in India.
- Pusapati Ashok Gajapathi Raju is the Union Minister for Civil Aviation.
Kidambi Srikanth lifts Indonesia Open
India’s Kidambi Srikanth has lifted the Indonesia Open Super Series badminton title by defeating Japanese qualifier Kazumasa Sakai in straight games 21-11, 21-19 in the Men’s Singles final at Jakarta, Indonesia.
- Jakarta is the capital of Indonesia.
- Joko Widodo is the President of Indonesia.
‘Harry Potter’ Actor Sam Beazley Dies At The Age Of 101
Actor Sam Beazley,who played Professor Everard in Harry Potter and the Order of the Phoenix, has passed away at the age of 101.