CURRENT GK
1.ADB grants $220 mn for better road connectivity in Rajasthan :-
The Asian Development Bank (ADB) signed a $220 million loan agreement with India for improving road connectivity, transport efficiency and safety on state highways of Rajasthan.
The loan is the first tranche of the $500 million Rajasthan State Highways Investment Programme, approved by the ADB Board in May this year.
It will also enhance the capacity of the state public works department in the areas of road asset management, road safety and project management, it added.
2.Foundation stone of country’s biggest Global Skill Park laid :-
Union Minister of State for Skill Development and Entrepreneurship Rajeev Pratap Rudi and Madhya Pradesh Chief Minister Shivraj Singh Chouhan have laid the foundation stone of the country’s biggest Global Skill Park in Bhopal, Madhya Pradesh.
The park will be constructed at a cost of 645 crore rupees.
Training will be imparted to 1000 students every year by trainers of international standard.
The park will function on the spirit of ‘With Industry -For Industry’.
3.NMCE, Indian Commodity Exchange to merge in 1st comex merger :-
National Multi Commodity Exchange (NMCE) will merge with Indian Commodity Exchange (ICEX), where Reliance Capital is the largest investor, in an all-stock deal to create the country’s third-largest commodities bourse.
This is the first merger deal in the commodity exchange space and the merged entity will offer the world’s first diamond futures contract along with a wide range of contracts, including bullion, oil, rubber and other agri-commodities.
Reliance Capital is the largest investor in ICEX and will continue to be the largest shareholder post merger, along with others.
As per the agreed swap ratio, ICEX shareholders will hold 62.8 per cent stake and NMCE’s will hold 37.2 per cent in ICEX, post merger.
4.Officers’ body opposes central bank CFO plan :-
The Reserve Bank of India’s (RBI) decision to appoint a chief financial officer (CFO) is facing stiff opposition as its officers’ association has questioned the move on the grounds that such a requirement is neither a statutory nor a legal mandate.
In May, the Reserve Bank of India invited applications for the post of CFO with the rank of an executive director from outside the organisation.
The RBI had said the CFO would be responsible for accurate and timely presentation and reporting of financial information of the central bank, and establishing accounting policies and procedures and ensuring compliance with regulations.
5.India-Thailand military exercise begins in Himachal :-
A 14-day joint military training exercise Maitree 2017 between India and Thailand started in Himachal Pradesh.
The joint exercise of the Indian Army with the Royal Thailand Army commenced at Bakloh in Chamba district.
The previous edition of the exercise was held at Krabi in Thailand in 2016.
6.President of India inaugurates restored heritage buildings in the President’s Estate :-
The President of India, Shri Pranab Mukherjee inaugurated July 4, 2017) restored heritage buildings in Schedule ‘A’ of the President’s Estate.
Speaking on the occasion, the President said he was happy to inaugurate the restored heritage buildings. This brings to a conclusion a task taken up in this Presidency to restore all important heritage structures in the precincts of Rashtrapati Bhavan.
7.Deputy Prime Minister and Foreign Minister of Vietnam calls on President :-
His Excellency Mr. Pham Binh Minh, the Deputy Prime Minister and Foreign Minister of the Socialist Republic of Vietnam called on the President of India, Shri Pranab Mukherjee at Rashtrapati Bhavan today (July 4, 2017).
Welcoming Mr. Minh to India, the President recalled his state visit to Vietnam in September 2014 and thanked him for the warm hospitality provided to him and his delegation during the visit. The President also congratulated Mr.
Minh on his elevation as a member of Politburo last year.
8.PM arrives in Israel; accorded ceremonial welcome at Ben Gurion Airport :-
The Prime Minister, Shri Narendra Modi, arrived at Ben Gurion Airport, Tel Aviv.
As part of an elaborate official welcome ceremony, Prime Minister of Israel Mr. Benjamin Netanyahu, received Prime Minister Modi on arrival. Prime Minister Modi inspected a ceremonial Guard of Honour.
Prime Minister Netanyahu began his press statement with the Hindi words “आपका स्वागत है मेरे दोस्त.”
He said the Prime Minister is welcomed with open arms and even the sky is not the limit for cooperation between the two countries. He described the Prime Minister as a great leader and a “world leader.”
9.Snapdeal rejects $700 million-$800 million Flipkart bid :-
The board of Indian online marketplace Snapdeal has rejected a bid worth $700 million-$800 million from Flipkart after due diligence by its bigger rival, Mintnewspaper reported on Tuesday.
Japan’s SoftBank Group Corp, Snapdeal’s biggest investor, is looking to sell the firm to Flipkart to secure a stake in India’s largest e-commerce player.
The offer by Bengaluru-headquartered Flipkart last week is only for the Snapdeal online marketplace and doesn’t include the company’s logistics arm Vulcan Express or its digital payments unit FreeCharge, Mint said quoting three anonymous sources.
10.Public Notice issued by Returning Officer for Election to the Office of Vice President of India :-
By a notification published in the Gazette of India Extraordinary (the 4th of July, 2017), the Election Commission has fixed the following schedule for the Vice-Presidential Elections, 2017-
(a)July 18, 2017, as the last date for making nominations;
(b)July 19, 2017, as the date for the security of nominations;
(c)July 21, 2017, as the last date for the withdrawal of candidates; and
(d)August 5, 2017, as the date on which a poll shall, if necessary, be taken.
The Commission vide separate Notification issued on the 1st of July, 2017 has appointed Shri Shumsher K. Sheriff, Secretary-General, Rajya Sabha, as the Returning Officer for the Vice-Presidential Election, 2017 and Shri Mukul Pande, Additional Secretary and Shri Rohtas, Joint Secretary, Rajya Sabha Secretariat, as the Assistant Returning Officers.
11.Narendra Modi gifts two sets of relics from Kerala to Netanyahu :-
Prime Minister Narendra Modi on Tuesday night gifted his Israeli counterpart Benjamin Netanyahu replicas of two sets of relics from Kerala, regarded as key artefacts of the long Jewish history in India.
They comprise two different sets of copper plates that are believed to have been inscribed in 9-10th Century, the PMO tweeted.
The first set of copper plates is a cherished relic for the Cochin Jews in India.
12.Shri Radha Mohan Singh to review the Flagship Programmes with 13 State Ministers :-
Union Minister for Agriculture and Farmers Welfare, Shri Radha Mohan Singh will be reviewing the progress of two priority programs of the Government namely National Agricultural Market (e-NAM) and Soil Health Card on 5th July 2017 at Krishi Bhawan.
State Ministers of Agri-marketing of the 13 States, markets of which have integrated to e-NAM, and State Agriculture Ministers of some selected States will be attending along with their senior State officials.
The progressive agri-market reforms being driven by Department of Agriculture, Cooperation and Farmers Welfare and NITI Aayog incorporated in the new model Agriculture Produce and Livestock Marketing (Promotion and Facilitation) Act, 2017 will also be discussed to encourage the States to adopt the suggested provisions at the earliest to bring in the benefits for the farmers.
13.Department of Consumer Affairs allows change in MRP on unsold stock prior to implementation of GST till 30th September 2017 :-
On account of implementation of GST w.e.f. 1st July, 2017, there may be instances where the retail sale price of a pre-packaged commodity is required to be changed.
In this context, Shri Ram Vilas Paswan, Union Minister for Consumer Affairs, Food & Public Distribution has allowed the manufacturers or packers or importers of pre-packaged commodities to declare the change retail sale price (MRP) on the unsold stock manufactured/ packed/ imported prior to 1st July, 2017 after inclusion of the increased amount of tax due to GST if any, in addition to the existing retail sale price (MRP), for three months w.e.f. 1st July 2017 to 30th September, 2017.
Declaration of the changed retail sale price (MRP) shall be made by way of stamping or putting sticker or online printing, as the case may be.
14.Dr. Subhash Bhamre Chairs CAC of National Cadet Corps :-
Minister of State for Defence Dr. Subhash Bhamre chaired the 50th Central Advisory Committee (CAC) meeting of the National Cadet Corps (NCC).
Dr. Bhamre, in his presidential address complimented the NCC on the performance of its cadets in various activities pertaining to training, adventure, social service and community development.
