Daily GK Updates - 15th June, 2018

NATIONAL UPDATES:

1. New Telecom Policy by July : Communications minister Manoj Sinha has announced that new telecom policy is likely to be in place by July 2018.The government on May 1 had released the draft National Telecom Policy 2018 aiming to attract investment of $100 billion (roughly Rs. 6.7 lakh crores) in the Digital Communications sector.Govt. also aims to reform the licencing and regulatory regime to promote ease of business.

2.10th smart city centre in Naya Raipur : Prime Minister Narendra Modi has inaugurated the country’s 10th Smart City Integrated Command and Control Centre at Naya Raipur.Naya Raipur is the upcoming capital city of Chhattisgarh and the country’s first smart greenfield city.Nine other cities under Integrated Command and Control Centre are in Ahmedabad, Vadodara, Surat, Pune, Nagpur, Rajkot, Visakhapatnam, Bhopal and Kakinada.

3. States sign MoU with govt on NHIS : Twenty states have signed memorandums of understanding with the Centre to implement the National Health Protection Scheme (NHPS).The NHPS will cost the exchequer Rs 120 billion.The Union government has said it will provide 60 per cent of the funds, and the state governments are expected to pool in the remaining 40 per cent.

4. Rajasthan Governor discontinues guard of honour : Rajasthan Governor Kalyan Singh has discontinued the ceremonial guard of honour and has become the first to do so.The practice was discontinued during his recent visit to Jodhpur between June 9 and 11 when he did not take the guard of honour.Kalyan Singh had expressed his desire to discontinue the ceremony for the Governor’s office in a letter to the Home Department on January 1.

INTERNATIONAL UPDATES:

1. Malabar 2018 to conclude on June 16 : The 22nd edition of the Malabar trilateral naval exercise of the US, Japan and India kicked off on June 7 at Guam in the Pacific Ocean and will continue till June 16.This is the first time that the prestigious Malabar exercise is being conducted off Guam, a major US Naval Base in the Western Pacific.The Malabar exercise started in 1992 between the Indian Navy and the US Navy.

2. India, US to hold trade talks : India and the US have agreed to hold official-level comprehensive talks to address trade and economic issues.This development comes as crucial after President Donald Trump  accused New Delhi of charging 100 per cent tariff on some of the US’ goods.The meeting was held in this regard between Commerce and Industry Minister Suresh Prabhu had with US Commerce Secretary Wilbur Ross

OTHER UPDATES:

BUSINESS/ECONOMY:

1. Fed Reserve raises rates : In raising its benchmark overnight lending rate a quarter of a percentage point to a range of 1.75% to 2%, the Fed Reserve of US marked a milestone in the U.S. central bank’s shift in monetary policy.After the rate-setting, Fed Chairman Jerome Powell said that the US economy is doing very well.The rate hike marks a shift in US policies used to battle the 2007-2009 financial crisis.

2. Millionaires own half of global wealth : According to a report released by Boston Consulting Group, The growing ranks of millionaires and billionaires now hold almost half of global personal wealth.Personal wealth around the globe reached $201.9 trillion last year, a 12 per cent gain from 2016 and the strongest annual pace in the past five years.In North America, 42 percent of investable capital is held by the richest people.

3. PhonePe ties up with Ola : Flipkart-owned digital payments firm PhonePe has tied up with homegrown cab aggregator Ola.Now, users will be able to book a cab or an auto using a micro-app built on its payments platform.The company has gone live with three such micro-apps, including that of redBus and Metro services, and plans to go live with 5 to 10 more in the ongoing quarter.

4. Dhivya: 1st Female CFO at General Motors : Dhivya Suryadevara has been named the chief financial officer of the United States’ largest automaker, General Motors.Dhivya will report to chief executive officer (CEO) Mary Barra who is also the first woman in the auto industry.Suryadevara earned her bachelor’s and master’s degrees in commerce from the University of Madras in Chennai, India.

DEFENCE:

1. Pinaka rocket turned into guided missile : The indigenous Pinaka rocket system of the Defence Research and Development Organisation (DRDO) is being evolved into a precision-guided missile.Pinaka rocket system is known for firing a salvo of 12 rockets in just 44 seconds, with enhanced range and accuracy to hit its targets.The rocket has been developed by the Armament cluster of the DRDO.

SPORTS:

1. Chess player withdraws from competition : Indian Grandmaster Soumya Swaminathan has withdrawn from the Asian Team Chess Championship to be held in Hamadan, Iran due to its hijab policy.According to country’s hijab policy, women are required to cover their head in public places, including at a sporting event.Previously, Indian pistol shooter Heena Sidhu had boycotted sporting championships due to the hijab law.