Current Affairs 5th June 2018

Current Affairs 5th June 2018 - Important Points

•  India receives first shipment of cheapest LNG from Gazprom Russia  on - 4th June 2018
• RBI organises ‘Financial Literacy Week’  from - 4th June 2018 to 8th June 2018
• Taj Declaration to Beat Plastic Pollution adopted in - Agra
• World Environment Day celebrated on - 5th June 2018
• Government launched 'Krishi Kalyan Abhiyaan' to help farmers raise their income on - 1st June 2018
• M K Jain named new RBI deputy governor  on - 4th June 2018
• Government launched ‘Suvidha’-affordable, biodegradable sanitary napkin on - 4th June 2018

Current Affairs 5th June 2018 - Details

 India receives first shipment of cheapest LNG from Gazprom Russia  on - 4th June 2018

India received 1st shipment of its much cheapest ‘Liquefied Natural Gas’ from Russian supplier Gazprom, on June 4th , 2018. The Liquefied Natural Gas has been issued at a price approximately USD 7 per million British Thermal Unit. This price is near to 1.5 USD cheaper from the Liquefied Natural Gas imported from Qatar, which is India’s biggest and major supplier of Liquefied Natural Gas. This price value is also 1-1.5 USD per mmBtu cheaper than the Liquefied Natural Gas sourced from Australia and USA.
India’s Natural Gas Production and Import

• As per to the official information, India’s total natural gas generation in 2017-18 was 32.64 billion cubic meters of which 22.01 billion cubic meters is offshore production while 10.63 per cent is onshore production.
• However, presently, approximately half of Natural Gas request is fulfilled by imports. India’s natural gas import dependence in 2016-17 was close to 45 per cent. Presently, India is 4th largest importer of Liquefied Natural Gas.
• Natural Gas is one of the crucial inputs for generation of power and producing products in fertilizer and steel industries. The present government policy also impulses towards a gas-based economy by
  increasing the portion of environment friendly fuel in the energy bag to 15% from present 6.2%.
  India’s Gas Deals
• Presently, Qatar is major supplier of Natural Gas to India. The current shipment from Russia has come under a 20-year deal among India’s State gas company GAIL India Ltd and Russian supplier Gazprom.
• A few weeks earlier, India had also imported its 1st ever Liquified Natural Gas cargo from United States under a long-term import contract.
• The government policy is to enlarge the Liquified Natural Gas import basket to complete any eventuality due to geopolitical/economic reasons.

RBI organises ‘Financial Literacy Week’  from - 4th June 2018 to 8th June 2018

The RBI is planning“Financial Literacy Week”around the country from June 4th to June 8th, 2018.
Key Highlights

• The week will aim on 4 consumer protection messages like know your liability for unauthorised digital banking transaction and good practices for a harmless digital banking experience.
• Among different messages, the subscribers will be informed via banners/posters that in case of unauthorised electronic transaction, if the bank is well-versed within three days, the liability of the account holder is nil.
• Further, the resolution of the criticism is to be done by the bank anxious within a period not more than 90 days from the date of receipt of the complaint.
• Besides, banks have also been informed to spread awareness about Banking Ombudsman scheme of the Reserve Bank of India.
• The week will see contribution from bankers, financial literacy counsellors and other shareholders to generate awareness regarding the similar concern.
  Other Details
• To quicken the level of outreach of the initiative, Reserve Bank of India has planned a pilot project for financial literacy in 80 blocks of Nine states, in which six NGOs have been listed themselves in Depositor education and awareness fund.

Reserve Bank of India has also inked a deal with Ten banks to deliver financial education. The targeted groups of this initiative will be farmers, industrialists, school going students, senior citizens and self-assisted groups.

Taj Declaration to Beat Plastic Pollution adopted in - Agra

With an aim to make 500m area around Taj Mahal “litter free” and phase out one-time usage of plastic,
Union Minister Mahesh Sharma directed a pledge to Agra Residents.
The pledge called “Taj Declaration to Beat Plastic Pollution” was made in the attendance of United
Nations Environment Programme Executive Director Erik Solheim and United Nations Environment
Programme Goodwill Ambassador Diya Mirza. The announcement came ahead to the World
Environment day, June 5th .
Key Objective

• Well beforehand the announcement was made, workshops were directed to deal with issues. The major emphasis of the workshop is to control littering around the 17th century memorial.
• Short-term and Long-term plans are worked up on.
• Minister Mahesh Sharma lime-lighted that India and the entire world is facing an enormous problem of pollution caused by the use of plastic.
• He further informed that the communication of ‘Beat Plastic Pollution’ is meant not just for Agra inhabitants, but to the entire nation.
• The United Nations Environment Programme representatives and Goodwill Ambassador articulated their happiness that all the bodies came together for a noble cause of curbing plastic pollution.
• The Environment day to be observed on June 5th has a slogan of ‘Beat Plastic Pollution’.

World Environment Day celebrated on - 5th June 2018

World  Environment Day  is  celebrated across the globe with theme: “Beat Plastic Pollution” India will be presenting the “World Environment Day” this year, which is one of the most significant days celebrated by the United Nations around the world.

• A platform for inspiring awareness and spreading the necessity for safeguarding the environment, this day is observed on June 5th .
• Ever since its beginning in 1974, World Environment Day has had a distinct theme relating to the
  persistent environmental concern at the time. The subject for the year 2018 is “Beat Plastic Pollution”.
• History With plastic making up to 10% of the total waste produced, half of it utilised is disposable items. This presents a main problem due to its non-renewable nature and its production and demolition exposes people and environment to many pollutants, including carcinogens.

Therefore, World Environment Day is a call for arising of individuals to take part for safeguarding their
environment and to understand the severity of plastic usage in day to day life.
More about World Environment Day

• Plastic is violently polluting our water bodies, harming aquatic-life and posing a threat to human health and therefore, it has been one of the major concerns of environmental bodies present year.
• Though a great part of the population depends upon plastic for their day-to-day needs, nearly one-third of it is not disposed-off adequately and ends-up clogging drains and pungent the environment.
• Plastic can continue in the environment for approximately a thousand years beforehand, it fully breaks and thus, many organisations and governments are always trying for replacements to tackle this threat.
• Through this day, United Nations is making an effort to impulse governments, industries and individuals to tie in the fight against plastic and discover suitable replacements.

Government launched 'Krishi Kalyan Abhiyaan' to help farmers raise their income on - 1st June 2018

The Union Ministry of Agriculture and farmers’ welfare has released the Krishi Kalyan Abhiyaan from June 1st , 2018 till July 31st , 2018 to help, support and advice farmers on skills how to advance their farming methods and increase their incomes.
The Krishi Kalyan Abhiyaan will be undertaken in 25 Villages with above 1000 population, each in 111
Aspirational Districts recognized in consultation with Ministry of Rural Development according to the guidelines of NITI Ayog. In the districts where the villages are less than 25, all villages will be covered.
Key Highlights

• An action plan containing specifically identified activities under numerous departments of the Department of Agriculture, Cooperation and Farmers Welfare, Animal Husbandry Dairying and Fisheries and Department of Agricultural Research and Education will be executed to dowse the selected 25 villages in each district with these activities.
• The total management and implementation in the 25 villages of a district will be finished by Krishi Vigyan Kendra of that district.
• Further, 111 officers have been designated in-charge of single district each for overall synchronization and field level monitoring.
• The officers have been nominated from subordinate, attached, autonomous organisations or PSUs of the Agriculture Ministry.
• Training programmes will also be directed in each of the villages by ICAR for bee keeping, mushroom cultivation and kitchen gardening. Female participants and farmers will be given preference for these training programmes.

M K Jain named new RBI deputy governor  on - 4th June 2018

Mahesh Kumar Jain, Managing Director and Chief Executive Officer of IDBI Bank was selected as the 4th deputy governor of the RBI on June 4th , 2018. He would be working for a term of 3 years.
The 4th Deputy Governor’s position has been vacant since S.S.Mundra retired on July 31 st , 2017. In his fresh role, M.K.Jain is predictable to be put in charge of banking supervision. He is also supposed to be a
communication bridge among Governor Urjit Patel and bankers on different issues, most prominently on the bankruptcy code and the Non-Performing Asset gratitude norms that Reserve Bank of India instituted on February 12th .
Other Details

• The designations made for the position of Deputy Governor are normally for 3 years, after which the government finalises on renewal if the obligatory has not reached the retirement age of 62.
• On that front, 55 years old M.K.Jain succeeds for re-appointment at the end of his 3 years term.
• A deputy governor receives a immovable salary of Rupees 2.25 lakhs per month, with addition of allowances.
• As per to the RBI Act, the central bank should have 4 Deputy Governors comprising 2 from within the ranks, 1 commercial-banker and 1 economist so as to led the financial policy branch.
• The finance ministry had 37 submissions for the position. Besides Jain, UCO Bank ED Charan Singh and State Bank of India MDs B.Sriram and P.K.Gupta were among the candidates for the position.
• K.P.Krishnan, Secretary, Skill development and Entrepreneurship, Yaduvendra Mathur additional secretary, NITI Aayog, and T.V.Somanathan, were among the qualified candidates.

Government launched ‘Suvidha’-affordable, biodegradable sanitary napkin on - 4th June 2018

The State Union Minister for Chemicals & Fertilizers, Mansukh L Mandaviya, released the ‘Janaushadhi Suvidha’, oxo-biodegradable sanitary napkin, under the Pradhan Mantri Bhartiya Janaushadhi Pariyojana in Delhi on June 4th , 2018.
The affordable sanitary napkin will now be accessible at more than 3600 Janaushadhi Kendras operating in 33 states and UTs across the nation.
Key Highlights

• The normal price of sanitary napkins present in the market presently is approximately Rupees eight per pad, while the Suvidha napkins will be accessible at Rupees 2.50 per sanitary pad.
• The move will deliver the basic hygiene need aid inexpensive for the underprivileged females.
• These pads also come with a special biodegradable additive which in contact with oxygen easily degrades after being discarded.
• As per to the National Family Health Survey 2015-16, approximately 58% of females aged 15-24 years utilise local pads and tampons.
• Further, about 78% females in cities practice hygienic methods during menstrual period, however, only 48% females in villages have access to clean sanitary pads.