1-4 June 2018 Current Affairs

RBI | Financial Literacy Week | Indian economy | Growth Rate | Tata Chemicals | DNA forensic lab | IISc |

Posted on Jun 04, 2018 11:41 IST in Current Affairs.

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1) What is the theme for Reserve Bank of India’s “Financial Literacy Week” that started from 4 June 2018? – Consumer Protection

Explanation: “Consumer Protection” is the chosen theme for RBI’s “Financial Literacy Week” that commenced from 4 June 2018. This week long event ending on 8 June 2018 will focus on creating awareness among customers of banks about financial products and services, good financial practices and going digital.

- The week will focus on four consumer protection messages like 'know your liability' for unauthorised electronic banking transaction and Good practices for a safe digital banking experience.

- Among various messages, customers will be told through banners and posters that in case of unauthorised digital transaction if bank is informed within 3 days, the liability of the account holder is zero.

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2) Indian economy grew 7.7% in the January-March quarter of 2017-18, the biggest expansion in seven quarters, as was disclosed in the government data released on 31 May 2018. What is India’s economic growth for financial year 2017-18? - 6.7%

Explanation: Indian economy grew 7.7% in the January-March quarter of 2017-18, the biggest expansion in seven quarters, on account of robust performance in manufacturing, construction and service sectors as well as good farm output. This was disclosed in the government data released on 31 May 2018.

- However, the economic growth slowed to 6.7% in 2017-18 compared to 7.1% in 2016-17.

- GDP at 2011-12 prices in the fourth quarter of 2017-18 registered growth rate of 7.7% as against 5.6%, 6.3% and 7%, respectively, in the first three quarters of 2017-18. The previous high GDP growth of 8.1% was recorded in April-June quarter of 2016-17.

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3) Tata Chemicals exited the chemical business by selling which fertilizer unit in West Bengal, as was disclosed by the company on 1 June 2018? – Haldia fertilizer unit

Explanation: Tata Chemicals on 1 June 2018 disclosed that the company completed the sale of its Haldia fertiliser unit in West Bengal and the trading business to Netherlands-based Indorama Holdings BV for Rs. 872.84 crore.

- The company sold the Phosphatic fertiliser business and the trading business comprising bulk and non-bulk fertilisers by way of slump sale on a going concern basis to IRC Agrochemicals, a wholly-owned subsidiary of Indorama Holdings BV.

- The divestment is in line with Tata Chemicals’ strategic direction to focus on speciality chemical and food businesses while maintaining leadership in inorganic chemicals.

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4) The foundation stone of an advanced DNA forensic laboratory especially to assist in investigation and prosecution of crimes including those committed against women and children was laid at which place on 1 June 2018? – Chandigarh

Explanation: Union Minister for Women and Child Development Maneka Gandhi laid the foundation stone of an advanced DNA forensic laboratory in Chandigarh Gandhi on 1 June 2018. This lab will come up at the Central Forensic Science Laboratory (CFSL) campus and is being established especially to assist in investigation and prosecution of crimes including those committed against women and children.

- This lab will help to meet the demand for more admissible, accurate and powerful forensic proof in the cases of crime against women and children.

- As per data collected from 23 labs across the country, 20,000 new cases of sexual assault are received annually for forensic analysis but the labs are not adequately equipped to deal with the ever increasing cases.

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5) Which is the only Indian institution to make it to the top 100 universities in the Times Higher Education’s World Reputation Rankings 2018 that was released on 31 May 2018? - Indian Institute of Science (IISc) Bengaluru

Explanation: The Indian Institute of Science (IISc) in Bengaluru has made it to the top 100 universities in the Times Higher Education’s ‘World Reputation Rankings 2018’, becoming the only Indian institution to make it to the prestigious list this year. IISc has been ranked in the 91-100 band of the annual list topped by American universities Harvard, Massachusetts Institute of Technology (MIT) and Stanford, with the United Kingdom’s Cambridge and Oxford completing the top five.

- With this IISc making into the list, India featured has in the table for the first time since 2011.

- The ‘World Reputation Rankings’ are created using what ‘Times Higher Education’ describes as the world’s largest invitation-only academic opinion survey and unique piece of research.

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