Dear Friends,
Welcome to the Quick Gyan (QG) Section of D2G. QG is just a glimpse of what happened today all over the world.
Only For Serious Candidates : We strongly recommend you to read the Current Affairs in detail. For your convenience, we have provided quick links under the updates. Make use of it.
Always Keep Yourself Updated!!!
BANKING AND FINANCE
Islamic banking to debut in Gujarat
Jeddah-based Islamic Development Bank (IDB) is set to start its India operations from Gujarat. The international financial institution from Saudi Arabia has chosen Gujarat to set up its first branch in India. The state will also get 30 medical vans as part of IDB’s social sector initiatives.
IDB’s main objective is to foster the economic development and social progress of member countries as well as the Muslim community in accordance with principles of Shariah (Islamic law). The bank has 56 Islamic countries as its members.During prime minister Narendra Modi’s visit to UAE in April this year, India’s EXIM Bank had signed a memorandum of understanding with IDB for a $100 million line-of-credit to facilitate exports to IDB’s member countries.IDB had also signed a $55-million pact with Rashtriya Institute of Skill and Education (RISE) to provide medical care to rural poor in India.
Quick Link – IDB in GJ
India’s growth to rise to 8 percent in FY2019: Fitch
India’s economic growth rate will slowly accelerate to 8% by fiscal year ending March 2019, driven by the gradual implementation of structural reforms, higher disposable income and improvement in economic activity, global rating agency Fitch. Fitch expects India’s GDP to grow 7.5% in fiscal year ending March 2016 and improve to 7.7% in the current fiscal year and further to 7.9% in the fiscal year ending March 2018.
The global agency said that the passage of the Bankruptcy Code earlier this month showed that implementation of big ticket reforms is possible in India, even though reforms related to land acquisition and a Goods and Services Tax have not passed thus far. It also expects higher disposable income to contribute to faster GDP growth.
Quick Link – FY2019
INDIAN AFFAIRS
Government approves capital goods sector policy
The Cabinet approved the first-ever policy for the capital goods sector in the country that aims to triple the value of production of these goods to Rs.7.5 lakh crore by 2025 and create more than 21 million jobs. The policy also envisages increasing exports to 40 per cent of production from the present 27 per cent. The share of domestic production in India’s demand will also be increased from 60 per cent to 80 per cent, making India a net exporter of capital goods.
Quick Link – Capital goods sector policy
Ministry of AYUSH gets Stylish Website
Minister of State (Independent Charge) for AYUSH Shripad Yesso Naik launched the new website of the Ministry of AYUSH and web portal for International Day of Yoga(IDY) in New Delhi.
The website http://ayush.gov.in has been developed as part of digital India programme, using content management framework (CMF) approach.The website is compliant to Government of India guidelines for Websites (GIGW) and it is developed on open source platform by NIC. This website is mobile friendly and CMF approach would adapt to all screen sizes across all platforms which are Android, IOS and Windows.The new portal for IDY has a provision for news to provide all the updated and relevant information relating to International Day of Yoga-2016.
Quick Link – AYUSH in IDY
Cabinet Approvals – May 26′ 2016
i) Union Cabinet gives nod for incorporation of Six new IITs; Upgrades Indian School of Mines to IIT
ii) Cabinet Approves India-Japan Pact On Thermal Power
iii) Financial restructuring of Hindustan Steel Works Construction Limited
iv) Union Cabinet gives ex-post facto approval to Amendments in Constitution (Scheduled Tribes) Order, 1950
v) Union Cabinet approves India, Maldives MoU for cooperation in field of tourism
vi) The Cabinet granted ex-post facto approval to the cadre review of the Indian Postal Service
Quick Link – Cabinet Approvals
Government Approves Establishment Of National Institute Of Technology In Andhra Pradesh
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi today granted ex-post facto approval for establishment of NIT, Andhra Pradesh which has been registered as a Society under the Andhra Pradesh Societies Registration Act, 2001 with effect from 20th agust 2015.The Cabinet also approved introduction of a Bill namely the National Institutes of Technology, Science Education and Research (Amendment) Bill, 2016 for inclusion of the NIT, Andhra Pradesh in its First Schedule.
Quick Link – NIT in AP
India emerges as fifth largest producer of e-waste in world
India, which has emerged as the world’s second largest mobile market, is also the fifth largest producer of e-waste, discarding roughly 18.5 lakh tonnes of electronic waste each year. Telecom equipment alone accounts for 12 per cent of the e-waste. The rising levels of e-waste generation in India have been a matter of concern in recent years. With more than 100 crore mobile phones in circulation, nearly 25 per cent end up in e-waste annually, it said.
The Ministry of Environment, Forest and Climate Change has notified e-waste management rules, 2016, in which producers are for the first time covered under extended producers’ responsibility (EPR). The rules prescribe a waste collection target of 30 per cent waste generated under EPR for the first two years, progressively going up to 70 per cent in the seventh year of the rule.
Quick Link – 5th place in e-waste
INTERNATIONAL AFFAIRS
World First Humanitarian Summit held at Istanbul, Turkey
Quick Link – Humanitarian Summit held at Istanbul
China signed agreements with Sudan to build 600-megawatt atomic reactor
China has signed agreements with Sudan, its close ally in Africa to build 600-megawatt atomic reactor, the first such project in the African country. Two framework deals have been signed by state-owned China National Nuclear Corp (CNNC) with Sudan on nuclear power development, including building a 600-megawatt atomic reactor. The agreements may involve a blueprint for nuclear power development in the next decade for Sudan and building the first nuclear power station in the country, the daily quoted a statement issued by the nuclear giant.
Quick Link – CNNC
SCIENCE AND TECHNOLOGY
ISRO to test Air-breathing Propulsion System
After successfully testing a technology demonstrator of a reusable launch vehicle, Indian Space Research Organisation (ISRO) is planning to test an air-breathing propulsion system, which aims to capitalise on the oxygen in the atmosphere instead of liquefied oxygen while in flight. This system, when implemented, would help in reducing the lift-off mass of the vehicle since liquefied oxygen need not be carried on board the vehicle. This would also help increasing the efficiency of the rocket and also make it cost-effective.
Quick Link – Air-breathing propulsion system
OBITUARY
Veteran Communist leader KC Mathew passes away
KC Mathew, a veteran communist leader and the prime accused in the attack on the Edappally police station in February 1950, which resulted in a witch-hunt of the communists by the police, died at the age of 92. He was ailing and undergoing treatment for nearly a month. Born into a well-to-do family at North Paravur in 1924, Mathew graduated from UC College in Aluva and was drawn to the communist ideals right from the college days.
Quick Link – KC Mathew passes away
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