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MAY 24, 2018

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Cheshta Gola
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[Company address]
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May 24, 2018

WORD OF THE DAY

Porter’s Five Forces

Proposed by American academic Michael E Porter, this is a strategic model that

identifies and analyses five forces that determine the competitive intensity and
attractiveness (in terms of Profitability) of a given industry. The forces include threats
posed by substitute products or services, established rivals and new entrants.

Courtesy: Mint

NATIONAL NEWS

1. Cabinet Joint Military Exercise SURYA KIRAN-XIII between India and Nepal will be
conducted at Pithoragarh, Uttarakhan.

• Exercise SURYA KIRAN is a biannual event which is conducted alternatively in

Nepal and India

2. NITI Aayog and Sushant Singh Rajput have decided to collaborate towards promoting
two major initiatives of NITI Aayog-

• Promotion of BHIM - BHIM is a mobile app developed by National Payments

Corporation of India, based on the Unified Payment Interface

• The Women Entrepreneurship Platform – The initiative is aimed at building an

ecosystem for women across India to realize their entrepreneurial aspirations,
scale-up innovative initiatives and chalk-out sustainable, long-term strategies for
their businesses

3. Leading digital financial services platform, MobiKwik, announced the launch of Unified
Payments Interface (UPI) on its platform via its own Virtual payment address
(VPA) handle @ikwik.

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• MobiKwik is the first in the industry to offer UPI access through its own Virtual
Payment address @ikwik.

• It is also the first to offer Bharat QR, UPI QR and intent functionality for merchant
payments.

4. India rose one place to 44th this year in the global competitive rankings out of 63
countries that were ranked by the IMD World Competitiveness Center.

• China bagged the 13th rank in 2018 as compared to the 18th rank in 2016

• The top 3 most competitive economies in the world are:

i. The USA,

ii. Hong Kong,

iii. Singapore

5. The 5th Cambodia, Laos PDR, Myanmar, Vietnam (CLMV) countries conclave held
at Phnom Penh, Cambodia

6. The Shanghai Cooperation Organisation-Regional Anti-Terrorist Structure (SCO-RATS)

meeting was held in Islamabad, Pakistan.

• This is the first time Pakistan is hosting the (SCO-RATS) meeting.

• The main agenda of the meeting is issues related to terrorist threats in the region
and how to manage them.

7. The Union Cabinet approved an ordinance to amend the Insolvency and Bankruptcy
Code (IBC) 2016.

• Recommended by 14-member high-level committee chaired by Ministry Of

Corporate Affairs Secretary Injeti Srinivas.

• Homebuyers are given the status of creditors in the insolvency process, until now
they were treated as unsecured creditors.

• The panel also suggested easing voting rules at committee of creditors meetings.

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• The government amended Section 29A clause of the IBC. It lists entities barred
from bidding for companies under insolvency.

8. The ordinance of setting India’s first National Sports University in Imphal, Manipur has
been approved.

9. Governments of India and Nepal has joined hands to plan on running a joint operation
to control wildlife poaching.

• The operation is to be conducted in Shuklaphanta National Park in Kanchanpur

district on Nepal’s side and Krishnapur Wildlife Sanctuary in Uttar Pradesh.

10. Governments of India, Netherlands and Sweden launched first-of-its-kind collaborative

research programme on HIV/AIDS.

• It is aimed at harnessing complementary research strengths and diverse

expertise across three nations to catalyse development of better tools to
understand and address burgeoning global epidemic of HIV.

11. Union Cabinet has approved Ministry of Home Affairs’ (MHA’s) proposal of setting up
4,072 mobile towers to improve telecom connectivity network in Left Wing Extremism
(LWE) Areas.

12. NITI Aayog and ABB India have signed Statement of Intent (SoI) to help India leverage
power of advanced technologies, including robotics and artificial intelligence

13. Implementation of Comprehensive Telecom Development Plan (CTDP) Project has been
approved for North Eastern Region (NER) in Meghalaya to improve mobile services.

14. The two fold effect of rising crude oil prices-

• India’s crude oil import dependency is increasing - import dependency of crude

oil has increased to 83.7% for April 2018 from 77.3% in fiscal year 2014.

• Brent crude prices are hovering around $80 a barrel - Higher oil prices will also
mean higher inflation, as retail prices of petrol and diesel should follow suit.

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INTERNATIONAL NEWS

1. UNICEF released a Data Visualisation app that offers user-friendly visual representation
of complex analytics of the education scenario in the country.
• It can be used as a visual tool by policy makers, senior government officials,
academia, and researchers to monitor programs in the education sector.
2. Pentagon, the headquarters of the United States Department of Defense disinvited
China from participating in Rim of the Pacific (RIMPAC) exercise.
• RIMPAC, the Rim of the Pacific Exercise, is the world's largest international
maritime warfare exercise. RIMPAC is held biennially during June and July
3. Palestine has submitted its instrument of accession to Chemical Weapons Convention
to European Union (EU).
• The Chemical Weapons Convention (CWC) is an arms control treaty that outlaws
the production, stockpiling, and use of chemical weapons and their precursors.
• The full name of the treaty is the Convention on the Prohibition of the
Development, Production, Stockpiling and Use of Chemical Weapons and on
their Destruction and it is administered by the Organisation for the Prohibition
of Chemical Weapons (OPCW)
4. The World Health Organization (WHO) declared Nepal the first country in the WHO’s
South-East Asian countres to eliminate Trachoma.
• The WHO South East Asia Region has 11 Member States: Bangladesh, Bhutan,
Democratic People's Republic of Korea, India, Indonesia, Maldives, Myanmar,
Nepal, Sri Lanka, Thailand, Timor-Leste.
• Also, the Kingdom of Cambodia and Lao People’s Democratic Republic (South
East Asian countries) have already eliminated Trachoma in September 2017. But
they do not form part of the WHO’s South East Asian countries.
• Trachoma was the second leading cause of preventable blindness in
the Himalayan nation in the 1980s.
5. India launches international incubator for clean energy innovators in MI3 at Malmo ,
Sweden.
• India announces its plan for hosting MI clean energy materials
Workshop in October-November, 2018 at New Delhi.

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6. The European Union’s (EU) General Data Protection Regulation (GDPR) - will take
effect from May 25 - envisages strict rules for handling personal data of users and
specifies new protocols for handling and storing private data, and sharing it with third
parties
• GDPR will replace the 1995 Data Protection Directive and is aimed at protecting
the personal data of EU citizens
• The new rights include
i. The right to be forgotten
ii. The right to data portability
iii. The right to object to profiling
iv. Consumer consent to process data must be freely given.
v. Consumer must be informed of their right to withdraw their consent
vi. A personal data breach must be reported to the Data Protection
Authority within 72 hours.
• Flouting the rules can attract a maximum fine equivalent to 4% of an
organization’s global annual revenue or €20 million, whichever is higher
7. Mytrah Energy Ltd, renewable energy producer, has delisted from London’s Alternative
Investment Market (AIM)
• Was listed in 2010

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BANKING AND ECONOMY

1. Reserve Bank of India announced that banks’ credit grew at 12.64% and deposits at
7.61% as on May 11, 2018 data.
• Credit grew by 12.64 percent year-on-year to Rs 85,51,099 crore in the fortnight
ending in May 11, 2018 compared to the fortnight ending in May 12, 2017,
banks’ advances stood at Rs 75,90,941 crore.

APPOINTMENTS

1. Charan Singh has been appointed as the Chairperson of Punjab and Sindh Bank.
2. Anjali Bansal has been appointed as the Chairperson of Dena Bank
3. Tapan Ray has been appointed as the Chairperson of Central Bank of India.
4. Pradeep Kumar Gupta has been appointed as the next Ambassador of India to
the Islamic Republic of Mauritiana.
5. Mahendra Singh Kanyal has been appointed as the next Ambassador of India to the
Republic of Suriname.
6. Airtel Payments Bank appointed Anubrata Biswas as its Managing Director and Chief
Executive Officer.
7. Government has appointed former Supreme Court Judge CK Prasad as Chairman of
Press Council of India (PCI) for second term.

IMPORTANT DAYS

1. On 24th May 2018, Commonwealth Day 2018 was observed in India.

• Commonwealth Day was earlier known as Empire Day
• It is celebrated on the second Monday in March in many countries. In India it is
celebrated on 24th May.
• The theme for Commonwealth Day 2018 is: ‘Towards a Common Future’.

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AWARDS

1. Minister for Women and Child Development, Smt. Maneka Sanjay Gandhi presented the
prestigious Nari Shakti Puraskar 2017 to the members of the INSV Tarini team in New
Delhi.
2. Council of Scientific & Industrial Research (CSIR) has received the Clarivate Analytics
India Innovation Award 2018 in the Government Research Organizations Category.
3. Actress and Comedian Julia Louis-Dreyfus will be awarded annual Mark Twain
award for American Humor from John F. Kennedy Centre of Performing Arts.

SPORTS

1. Tejaswini Sawant won gold medal in the 50m rifle prone event in the Grand Prix in
Munich ahead of the ISSF World Cup Rifle/Pistol stage.

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