Current Affairs Current Affairs May 2018

  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. MobiKwik's users can, by default, use their mobile number as their own VPA which will be '@ikwik'.
hey will also be able to link multiple bank accounts with just one VPA and users can change primary account as per their requirements. MobiKwik is the first in the industry to offer UPI access to a huge base of three million merchants on its app.
Source- The Moneycontrol
   

 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. India started from the 40th position in 2013 and dropped to the 44th rank in 2014. India’s rank remained at 44 in 2015 and jumped four places to 41 in 2016, dropping to 45 in 2017, and rising to 44 in 2018. In contrast, China bagged the 13th rank in 2018 as compared to the 18th rank in 2016.
The top 5 most competitive economies in the world are:
1. The USA,
2. Hong Kong, 
3. Singapore,
4. The Netherlands 
5. Switzerland.
Source- The Livemint
     

   NITI Aayog and ABB India have signed a pact to help the country derive the benefits of latest technologies including robotics and artificial intelligence. The Statement of Intent to work together to realise the ambitious make in India vision of the government was signed in the presence of NITI Aayog CEO Amitabh Kant.
NITI Aayog and ABB will work with government ministries, solicit feedback for areas critical to them and discuss solutions using industrial automation, and digitalization technologies. The initiative also covers the fast-growing segment of electric mobility.
Source- Press Information Bureau (PIB)
 

 Home Minister Rajnath Singh has announced that the family of a paramilitary jawan who dies in action will be given a minimum compensation of one crore rupees.  The Home Minister presented gallantry awards to BSF jawans and officers. 
Source- AIR World Service

 The Union Finance Ministry has tied up with 40 entities including Flipkart, Swiggy, Patanjali and Amul for extending loans to small entrepreneurs under the Pradhan Mantri Mudra Yojana (PMMY). In order to identify people who can be given funds under the Pradhan Mantri Mudra Yojana (PMMY), the ministry has organised an event in Mumbai to extend loan under the scheme. The CEOs of various Banks, senior officials in the rank of MD or CEO from Oil Companies, Railway Board would be part of the event.
Source- Business Standard

  The JD(S)-Congress coalition government head HD Kumaraswamy was sworn-in as the New Chief Minister of Karnataka. Governor Vajubhai Vala administered the oath of office and secrecy to Kumaraswamy. Congress Leader G. Parameshwara was sworn in as Deputy Chief Minister. There are 221 elected members in the Legislative Assembly, and the coalition partners have 117 members, including one BSP and two independents.
Source- DD News

  State-run power equipment maker Bharat Heavy Electricals Ltd (BHEL) has appointed Pravin L. Agrawal as a part-time official director on its board. An Indian Forest Service officer, Agrawal is presently joint secretary in the Department of Heavy Industry (DHI), Ministry of Heavy Industries and Public Enterprises.
Source- The Moneycontrol

   The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given the following set of approvals. The important Cabinet Approvals are given as follows- The Cabinet has approved- 1. MoU between India and Angola for promoting bilateral cooperation in the field of Electronics and Information Technology.2. MoU signed between India and France in the field of Renewable Energy.3. MoU between India and Denmark on Food Safety Cooperation.4. MoU between India and Morocco on India-Morocco cooperation in Renewable Energy.5. MoU between India and Turkey on trade in poppy seeds to ensure quick and transparent processing for import of poppy seeds from Turkey.6. MoU between India and Singapore on Cooperation in the field of Personnel Management and Public Administration.7. Provision of mobile connectivity in Left Wing Extremism Areas.8. Universal Service Obligation Fund (USOF) scheme for the provision of mobile services in Meghalaya under Comprehensive Telecom Development Plan (CTDP) for North Eastern Region.
Source- Press Information Bureau (PIB)
   

   
India's Multi Commodity Exchange had launched the country's first copper options contracts. Three contracts with a lot size of 1 tonne were launched. The option contract will provide physical market participants an additional instrument to hedge their risk.
Source- The Economic Times
     

  Star South African batsman AB de Villiers has announced his decision to retire from international cricket with immediate effect. In his 14-year career, he played 114 Tests, 228 One-Day Internationals (ODI) and 78 T20 Internationals. 
Some of the Phenomenal Records of ABD are: The World Record for the fastest ODI 50 (16 balls), 100 (31 balls) and 150 (64 balls), the second highest individual Test score for South Africa (278*), the highest points (935) by a South African on the ICC Test rankings and has claimed the coveted SA Cricketer of the Year award twice (2014 and 2015).
Source- Sports24
   


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