CURRENT AFFAIRS 11TH MAY

India and China signed a protocol for exportation of Indian chilli meal to China

India and China signed a protocol for the export of Indian chilli meal to China. This is the fourth protocol signed between the two nations over the past year allowing the export of farm commodities from India.

They agreed to resolve market access issues expeditiously in order to achieve the vision of the leaders of both India and China by promoting a more balanced trade. At the end of the meeting, a protocol was signed for export of chilli meal from India to China.

Former SC Judge KS Radhakrishnan appointed member of Commonwealth Secretariat Arbitral Tribunal

KS Radhakrishnan appointed as a member of Commonwealth Secretariat Arbitral Tribunal (CSAT) for a term of 4 year. Headquarter of the CSAT is in London. He had earlier served as a Supreme Court judge from November 2009 to May 2014. He has also served as the Chief Justice of the High Courts of Gujarat and J&K.

CBIC to organise WCO Asia Pacific region meeting in Kerala

Central Board of Indirect Taxes and Customs (CBIC), under the Ministry of Finance, is organizing the World Customs Organisation (WCO) for Asia-Pacific region in Kochi, Kerala from 8th to 10th May 2019.  As India currently holds a seat of Vice Chairperson of Asia Pacific region, it is hosting this meeting in this capacity. Pranab Kumar Das, Chairman of CBIC will chair the meeting.

The 5th UN Global Road Safety Week 2019 is being held

The Fifth United Nations (UN) Global Road Safety Week is being held from 6 May to 12 May 2019. The theme for the weekly event in 2019 is Leadership for road safety.  The UN Global Road Safety Weeks and its’ campaigns are coordinated by United Nations Road Safety Collaboration, chaired by the World Health Organization (WHO). During the on-going global road safety week WHO released the Global Status Report on Road Safety.

Australian flight carrier, Qantas operated worlds first zero-waste flight

Australian flight carrier, Qantas operated the world’s first zero-waste commercial flight named QF739 from Sydney to Adelaide which disposed of all waste through compost, reuse or recycles. This airline has substituted over 1000 single-use plastic items with more environment-friendly items which have helped the airline to achieve zero-waste during a commercial flight.

Iran partially withdrew from JCPOA

Iran announced it will pull out of some commitments under 2015 international nuclear agreement signed with world powers, called Joint Comprehensive Plan Of Action (JCPOA). Iran said it will stop suppressing its stocks of enriched uranium and heavy water, as these are needed by certain types of the reactor for nuclear fission to take place.

Mr Sedat Onal, Deputy Minister of Foreign Affairs of Turkey visited India and discussed about enhancing our deep-rooted bilateral relations

As part of the regular exchange between India and Turkey, Deputy Minister of Foreign Affairs of Turkey, Mr. Sedat Onal visited India from 7th May-9th May 2019. Mr Sedat Onal previously visited India as part of the delegation of President Recep Tayyip Erdogan in May 2017. Off-late the political exchange between India and Turkey have strengthened our deep-rooted ties that goes back to many centuries, and opened up various new arenas for cooperation.

RBI withdrew its circular that asked banks to disclose IL&FS exposure, provisions

The Reserve Bank of India, on 8th May, withdrew its April 24 circular that required the banks to make specific disclosures as the National Company Law Appellate Tribunal (NCLAT) lifted the freeze on banks from declaring the accounts of debt-laden IL&FS and its group companies as non-performing.

Iceland researchers found methods to turn CO2 to rock for cleaner air

The 21st-century alchemists are transforming carbon dioxide into the rock for eternity in Iceland’s volcano country, cleaning the air of harmful emissions that cause global warming. The technology mimics, in an accelerated format, a natural process that can take thousands of years, injecting CO2 into porous basalt rock where it mineralizes, capturing it forever. In Iceland, at least half of the energy produced comes from geothermal sources.

Bank credit grows 13.2 percent in 2019 financial year

Bank credit grew by 13.2% in the financial year 2018-19 as compared to 10.3% in the previous financial year, mainly aided by loans to services and retail sector. Deposit growth also gained momentum, growing by 10% as compared to 6.7% a year ago. Banks typically tend to push for more loan disbursement and also try to get more deposits ahead of the end of a financial year to shore up their balance sheet and meet year-end targets.


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