May, 2018

3rd Home Affairs Dialogue between India, UK

The third Home Affairs’ Dialogue between India and UK was held in New Delhi. The dialogue covered a wide range of issues including cyber security, women safety, organized crime and terror financing. Detailed exchange of views took place between the two sides on Indian fugitives and economic offenders residing in the U.K.

New Northern Army Commander

Lt Gen Ranbir Singh has been appointed as the new Northern Army commander. Lt Gen Singh succeeds Lt Gen Anbu who has been appointed as the Vice-Chief of the Indian Army. Lt Gen Ranbir Singh was the Director-General of Military Operations (DGMO) when India carried out surgical strikes across the Line of Control (LoC) in Jammu and Kashmir.

Discus thrower Vikas Gowda retires

Top Indian discus thrower Vikas Gowda has retired after competing at the highest level for more than 15 years. Gowda, who holds the national record of 66.28m, is one of the most decorated Indian athlete, having won a gold in the 2013 and 2015 Asian Championships. Awarded the Padma Shri in 2017, Gowda became the second Indian in 56 years to win an athletics gold at the CWG.

Moody’s cuts India GDP growth forecast

Moody’s Investors Service has cut India’s 2018 growth forecast to 7.3% from the previous estimate of 7.5%. Moody’s said that the economy is in cyclical recovery but higher oil prices & tighter financial conditions will weigh on the pace of acceleration. Moody’s, however, maintained its 2019 growth forecast at 7.5%. Moody’s said growth should benefit from an acceleration in rural consumption

WTO to set up dispute panel

The World Trade Organisation’s (WTO) dispute settlement body has agreed to set up a panel to examine America’s allegations against certain alleged export subsidy measures in India. The WTO’s Dispute Settlement Body agreed to a request from the US for the establishment of a dispute panel. India’s exports to the US stood at USD 42.21 billion in 2016-17.

Yes Bank inks MoU with SIDBI

Yes Bank has entered into an agreement with SIDBI under which it will act as a preferred financial institution for giving loans to the small and medium enterprising customers. This will facilitate smooth flow of credit in a hassle-free manner to MSME customers availing term loan facility from SIDBI. Small enterprises will also be entitled to use Yes Bank’s varied banking solutions.

Microsoft becomes third most valuable firm

Microsoft has surpassed Alphabet, in the market capitalisation for the first time in 3 years, becoming the 3rd most valuable firm after Apple & Amazon globally. On May 29, 2018, Microsoft reportedly had a market cap of $753 billion at the close of trading, almost $14 billion ahead of Alphabet. Apple leads with a market cap of $924 billion & Amazon is at second spot with nearly $783 billion.

Sikkim govt approves MSP organic commodities

Sikkim government has approved Minimum Support Price (MSP) for various organic horticultural commodities, mostly vegetables, being produced in the state in order to protect the interests of the farming community. The Sikkimese farmers will get differential MSP for the organic commodities. Sikkim government had banned sale of 27 non-organic food products in the state from April 1, 2018.

Upgraded Pinaka rocket successfully test-fired

An upgraded version of Pinaka rocket, with a guidance system and an enhanced range, was successfully test-fired from the Proof & Experiment Establishment at Chandipur in Odisha. Pinaka has now been upgraded into a guided version, with a navigation, guidance & control kit developed by the Research Centre, Imarat, Hyderabad. The conversion helped in enhancing the range and accuracy of Pinaka.

Rare, isolated neutron star discovered

NASA scientists have discovered a special kind of neutron star for the first time outside of the Milky Way galaxy. Neutron stars are the ultra dense cores of massive stars that collapse and undergo a supernova explosion. The newly identified neutron star was discovered using data from NASA’s Chandra X-ray Observatory and the European Southern Observatory’s Very Large Telescope in Chile.