JUNE 2018 MONTHLY MAGAZINE
- Norway World’s Best Country in Traffic Safety
According to a report from organization European Transport Safety Council (ETSC), Norway observes the lowest rate of traffic accidents in the world, leaving behind other European countries. Norway accounts for 20 deaths per one million inhabitants which is the lowest death rate in traffic since cars became common way of transportation in the post-war era.
- Pakistan placed on FATF’s grey list
Pakistan has been placed on the Grey list of countries that financially aid terrorism, in Paris by the Financial Action Task Force (FATF). The placement on to grey list could hurt Pakistan’s economy as well as its international standing.
- In a historic first, Saudi Arabia lifts ban on female drivers
In a first, women across Saudi Arabia were legally allowed to drive for the first time since 1957, thus, ending the world’s last ban on female drivers which was seen as a symbol of women’s repression in the deeply conservative Muslim kingdom.
- UK Queen approves Brexit Bill
Britain’s Queen Elizabeth II granted royal assent to Prime Minister Theresa May’s flagship Brexit legislation, that will formally end the country’s European Union membership. The EU withdrawal bill repeals the 1972 European Communities Act through which the UK became a member of the bloc.
- Tayyip Erdogan wins another term as Turkey President
After 15 years in office, Turkey’s President Recep Tayyip Erdogan is set to return to power once again for another 5 years following his outright election victory in the recently concluded polls. With 99 percent of votes counted, Mr Erdogan (64) won 53 percent votes and his closest rival Muharrem Ince won 31 percent.
- Nepal out from ICAO’s blacklist
International Civil Aviation Organisation (ICAO) has removed Nepal from its Significant Safety Concern (SSC) list. In 2013, the ICAO had enlisted Nepal in SSC category as Nepal’s compliance to the ICAO’s standard at that time stood only at 55 percent out of the standard 60 percent.
- Wife of Israel PM charged with fraud over misuse of funds
The wife of Israel’s prime minister has been charged with fraud involving the alleged misuse of state funds. Sara Netanyahu has been indicted over claims she fraudulently ordered hundreds of meals to the prime minister’s official residence in Jerusalem, spending more than $100,000 (£76,000) of public money in the process.
- World’s 1st International centre for Humanitarian Forensics
The world’s first of its kind and state-of-the-art International Centre for ‘Humanitarian Forensics’ (ICHF) was launched at the Gujarat Forensic Sciences University in Gandhinagar, Gujarat.
- World’s most Powerful Supercomputer unveiled
US scientists have unveiled the world’s most powerful and smart scientific supercomputer that can complete over 200,000 trillion calculations per second. The supercomputer will provide unprecedented computing power for research in energy, advanced materials and artificial intelligence.
- Rizvi sworn in as caretaker Pak Punjab CM
Professor Hasan Askari Rizvi took charge as the caretaker chief minister of Pakistan’s Punjab Province. Hasan Askari Rizvi was administered oath of office and secrecy at the Governor’s House in Lahore.
- Jordan king appoints Omar Razzaz as new Prime Minister
Jordan’s King Abdullah II appointed a new prime minister in hopes of quelling the largest anti-government protests in recent years. Cabinet member Omar Razzaz, a Harvard-educated former senior World Bank official, replaced Hani Mulki.
- Microsoft is now third most Valuable Firm globally
Microsoft has surpassed Alphabet, the parent company of Google, in the market capitalisation for the first time in three years, becoming the third most valuable firm after Apple and Amazon globally. Microsoft had a market cap of $753 billion at the close of trading, almost $14 billion ahead of Alphabet.
13.Abdel Fattah Al-Sisi sworn in as Egyptian President
In Egypt, President Abdel Fattah al-Sisi was sworn in for a second four-year term in office as the country faces major economic and security challenges. Sisi won 97% of valid votes in the March presidential election.
- Giuseppe Conte Sworn in as Italy PM
Giuseppe Conte was sworn in as prime minister of Italy’s new populist government. Conte, an academic and political novice, will head a government of ministers from the anti-establishment Five Star Movement (M5S) and the far-right League Party.
- Paraguay gets Its 1st Woman Interim President
Paraguay gets first interim woman President Alicia Pucheta for the first time in its history after outgoing leader Horacio Cartes stepped down ahead of schedule. Vice President Alicia Pucheta will complete Carter’s mandate after he resigned to become a senator.
INDIA & WORLD
- India Ranked 4th for Web Attacks Globally: Report
According to a report titled “Summer 2018 State of the Internet/ Security: Web Attack report” compiled by Cloud delivery network provider Akamai Technologies, India is ranked fourth in the list of top 10 target countries for Web Application Attacks.
- Mumbai costlier than Washington and Melbourne
According to a Mercer survey, Mumbai is the most expensive city in India to live in for expatriates as compared to Washington and Melbourne. Hong Kong is ranked as the world’s costliest city to live in for expatriates, followed by Tokyo, Zurich, Singapore, and Seoul. Bengaluru, which has a high population of expatriates is getting more reasonable on cost of living.
- US surpasses India as top greenfield FDI investment destination globally: FDI Report 2018
According to the FDI Report 2018 compiled by FDI Intelligence, a division of The Financial Times Ltd. , US has surpassed India as the top destination to attract Greenfield FDI investment.
- India among over 90 nations without paid paternity leave: UNICEF
According to the new analysis by UNICEF, India is among almost 90 countries in the world without national policies in place that ensure new fathers get adequate paid time off with their newborn babies.
- India ranks 177 in Environmental Performance Index 2018
India has been ranked at 177 out of 180 countries in the 2018 Environmental Performance Index (EPI). India has become the fourth worst country in the world with an air quality score of 5.75 out of 100. India was placed at 141 out of 180 in 2016. The top five countries in terms of green rankings are Switzerland, France, Denmark, Malta and Sweden.
- India is the second highest sender of Foreign Students in US
With 1,86,000 Indian students currently studying in the United States, India is the second highest sender of foreign students to the US, next only to China. US consul general in Kolkata, Craig Hall, stated that the United States is the top destination for foreign students worldwide and the number of Indian students in the US has more than doubled in the last 10 years.
- India ranks 137th on Global Peace Index 2018
According to a report by an Australian think tank, India has moved up four places to the 137th rank among 163 countries on the 2018 Global Peace Index. Iceland remains the most peaceful country in the world, a position it has held since 2008. New Zealand, Austria, Portugal and Denmark also sit in the top five most peaceful rankings.
- 3rd meeting of India-UK home affairs dialogue held in New Delhi
The Third Home Affairs’ Dialogue between India and U.K. was held in New Delhi. The Government of India Delegation was led by Mr Rajiv Gauba, Union Home Secretary and the Delegation from Home Office of the U.K. was led by its Second Permanent Secretary, Ms. Patsy Wilkinson.
- India improves its childhood index global ranking
India has been placed at 113th position in the list of 175 countries in “End of Childhood Index 2018” indexed by global child rights group, Save the Children.
- Canada becomes second nation to legalize marijuana
Canadian Parliament has passed a “historic” bill legalizing the recreational use of marijuana nationwide, becoming the second country in the world to do so
- US quits UN human rights council
US envoy to UN Nikki Halley, calling UNHRC a ‘cesspool of bias’ and blaming for its anti-Israel stance, announced to pull out of UNHRC.
- 11th Common Review Mission Report Released
Shri Ashwini Kumar Choubey, Minister of State for Health and Family Welfare released the 11th Common Review Mission (CRM) report of the National Health Mission. Speaking at the function, Shri Choubey stated that India has registered a record 22% reduction in MMR since 2013, which is the highest percentage decline so far when compared to all the previous reductions in MMR as per the earlier rounds of SRS.
- Wholesale inflation hits 14-month high
India’s inflation measured by the Wholesale Price Index (WPI) rose to a 14-month high of 4.43% in May as compared to 3.18% in April, government data revealed. Vegetable prices grew by 2.51% in May, while primary articles that account for over one-fifth of the entire WPI, grew by 3.16%.
- TCS becomes first Company to close over Rs. 7 Trillion Market Cap
India’s IT major Tata Consultancy Services (TCS) became first listed company in India to close day’s trade with market capitalisation (m cap) of over Rs. 7 lakh crore (over $103 billion).
- Reliance Industries from India to rank under top-100: Forbes
Reliance Industries at 83rd place, the only from India in the top-100. HDFC has been ranked as the 5th biggest public company globally in the ‘consumer financial services category’ compiled by Forbes in its 16th annual Forbes Global 2000 list. American Express tops the chart. Tata Motors at 385 , TCS at 404, L&T at 471st , SBI at 489th.
- Three Indian cities among top 10 for GDP risk from terrorism
Three Indian cities, including Delhi, Mumbai and Bengaluru are ranked among the top 10 cities globally for GDP risk from terrorism threats, a recent study found out. Delhi, Mumbai and Bangalore stood at fifth, sixth and seventh in this aspect, in the latest edition of Lloyd’s India’s City Risk Index (CRI).
- Baba Kalyani heads group to study SEZ Policy
Government of India has constituted a group of eminent persons to study the Special Economic Zones (SEZ) Policy of India. The group will evaluate the SEZ policy, suggest measures to cater to the needs of exporters in the present economic scenario and make the SEZ policy WTO compatible, suggest course correction in SEZ policy, make
- India among top 5 in e-waste generation
India is among the top five e-waste generating countries in the world besides China, the US, Japan and Germany, according to a report. Among states, Maharashtra contributes the largest e-waste of 19.8% but recycles only about 47,810 tonne per annum (TPA), the report released by Assocham and NEC.
- India’s Forest cover stood at 21.34% in 2015
India’s forest cover stood at 21.34% in 2015, an increase of 1.29 percent from 2009, according to a government report on the environment. The Status of Environment Report, India 2015, was released by Environment Minister Harsh Vardhan.
- Punjab Government Launched Mobile App- ‘i-Hariyali’
To increase the state’s green cover, the Punjab government has launched ‘i-Hariyali’ app that lets users order free plant saplings. The ‘i-Hariyali’ app under ‘Mission Tandarust’ can be downloaded from the app store for free. The users can book a sapling of their choice, a maximum of 25 per person, from a nearby government nursery.
- Governor’s Rule imposed in J&K
President Ram Nath Kovind has given his assent to imposition of Governor’s rule in Jammu and Kashmir. This is the eighth time in the last four decades J&K was put under Governor’s rule and third time under J&K Governor N N Vohra tenure.
- Shillong Gets Selected As the 100th Smart City
Shillong, the capital city of Meghalaya has been selected as 100th Smart City, to receive funding under the Centre’s flagship Smart Cities Mission, after evaluating the proposal submitted by it. Till now, 99 smart cities had been selected in four rounds of competition and with Shillong’s selection, the list of 100 cities has been completed under the Smart Cities Mission.
- Niti Aayog’s Composite Water Management Index
Minister for Water Resources Nitin Gadkari released Niti Aayog’s composite water management index report in New Delhi. Gujarat topped the list while Jharkhand was adjudged as the worst performer. Gujarat is followed by Madhya Pradesh, Andhra Pradesh, Karnataka and Maharashtra.
- Hyderabad ranks third in sound polluted cities list
The city of Hyderabad in Telangana has ranked third in The most sound polluted city list .It is also considered among the top 10 most air polluted metropolitan cities.
- Keshari Nath Tripathi to hold additional charge as Tripura Governor
President Ram Nath Kovind has given West Bengal Governor Keshari Nath Tripathi additional charge of Tripura Governor, during the absence of Tathagata Roy who is on leave.
- Agni 5 Missile test fired off Odisha coast
India successfully test fired its indigenously developed Agni- 5 missile. The missile was launched from Dr Abdul Kalam Island off the Odisha coast. This is the 6th test fire of the state-of-the-art Agni 5 missile.
- Andhra Pradesh gets separate state symbols post split
The state of Andhra Pradesh has notified its separate state symbols post-split and creation of Telangana in 2014. The announcement of the new symbols was made by the state department of environment, forest, science & technology.
Symbols Andhra Pradesh
State Tree Neem
State Bird Rose-ringed Parakeet
State Animal Black Buck
State Flower Jasmine
- Monsoon Session of Parliament
The Monsoon Session of Parliament will be held from July. It will span over 24 days & will have 18 sittings. It was formally announced by Cabinet Committee of Parliamentary Affairs (CCPA) chaired by Home Minister Rajnath Singh. The CCPA recommendation now sets in summoning motion process of President Ram Nath Kovind for formally convening the session.
- 3rd annual meeting of AIIB
The 3rd annual meeting of the Beijing based Asian Infrastructure Investment Bank (AIIB) began in Mumbai. This first time India is hosting the event. The meeting with the theme ‘Mobilizing Finance for Infrastructure’ was inaugurated by PM Modi.
- 19th all India Conference of Directors
Union Minister of State for Home Affairs, Shri Hansraj Gangaram Ahir will inaugurate the 19th all India Conference of Directors of Finger Prints Bureaux in Hyderabad. During the two-day conference, participants will deliberate on latest Automatic Fingerprint Identification Systems (AFIS).
- India-Greece business forum meeting
On the occasion of the official visit of the President of the Republic of India to Athens, a Business Forum the ‘Greece-India Business Forum’ was organized in Athens.
- Fourth Governing Council Meeting of NITI Aayog Concludes
The fourth meeting of the Governing Council of NITI Aayog was held under the chairmanship of the Hon’ble Prime Minister Shri Narendra Modi at Rashtrapati Bhavan. It was attended by 23 Chief Ministers and the Lieutenant Governor of Andaman & Nicobar Islands, apart from Union Ministers, who are ex-officio members and special invitees.
- Maharashtra CM meets World Bank CEO Kristalina Georgieva
Maharashtra Chief Minister Devendra Fadnavis met World Bank CEO Kristalina Georgieva in Washington DC to seek assistance for a Multimodal Transport Corridor and the Rural Livelihood Project which aims to provide sustainable livelihood enhancements in 10,000 villages in the state.
- Thawarchand Gehlot chairs ‘3rd Meeting of NCSrC’
Shri Thaawarchand Gehlot, Union Minister for Social Justice and Empowerment chaired the “3rd Meeting of National Council of Senior Citizens(NCSrC)” convened by the Ministry of Social Justice & Empowerment.
- 11th World Hindi Conference to be Held in Mauritius
The 11th World Hindi Conference (WHC) is being organized from August 2018 in Mauritius by the Ministry of External Affairs, Government of India in association with the Government of Mauritius. The main theme of the Conference is ‘Hindi Vishwa Aur Bharatiy Sanskriti’.
- Donald Trump meets Kim Jong Singapore
The historic delegation-level talks between US President Donald Trump and North Korean leader Kim Jong Un is underway in Singapore. Before they met for delegation-level talks, the two leaders held a brief one-on-one meeting at the Capella Hotel in Sentosa Island.
- G7 summit 2018 held in Canada
The 44th G7 summit was held on June 2018, in La Malbaie, Quebec, Canada.This was the sixth time since 1981 that Canada has hosted the meetings. The summit received significant attention due to a significant decline of relations of members with the United States. Due to this, the summit was dubbed the “G6+1″ by France and some members of the media.
AWARDS & HONOURS
- Sagarmala receives Gold Award
The Ministry of Shipping’s flagship programme for port-led-prosperity ‘Sagarmala’ received the ‘Gold Award’ at 52nd Skoch Summit 2018 in New Delhi. The Skoch Awards recognize leadership and excellence in accelerating socio-economic changes.
- Irfan Khan won Best Actor award at IIFA Awards
Irfan who is battling neuroendocrine tumour, won the IIFA for best actor for his role in Hindi Medium. The International Indian Film Academy (IIFA) awards took place in Bangkok.
- Award winning poet Donald Hall passes away
Award-winning American poet and writer Donald Hall passed away at the age of 89. He was the United States Poet Laureate for 2007-’08 and received the Robert Frost Medal in 1991 and the National Medal of Arts, the nation’s highest honour for artists, in 2010.
- FICCI awarded at X International IT Forum
Federation of Indian Chambers of Commerce & Industry (FICCI) received an award during the event, for its support and active participation at the forum, consecutively for two years. The prime objective of the X International IT Forum was to leverage on the unique strengths of the Indian IT industry potential and Russia’s innovative products.
- Prem Chopra honoured with living legend award
Veteran Bollywood actor Prem Chopra was honoured with the Living Legend Prize at the 25th annual Bharat Nirman awards in Kolkata. Besides the well-known actor Raza Murad was also felicitated under the ‘Achievers Awards’ category for ‘Film Actor’.
- M. Scorsese to receive Lifetime Achievement
Veteran director Martin Scorsese will be conferred with the Lifetime Achievement Award at the Rome Film Festival 2018. Martin Scorsese is an American director, producer, screenwriter, actor and film historian.
- Oriental Bank of Commerce awarded for Atal Pension Yojana
Oriental Bank of Commerce has been awarded as the best public sector bank for Atal Pension Yojana for the year 2017-18. MoS for Finance Shiv Pratap Shukla presented the awarded to Mukesh Kumar Jain, MD & CEO of the bank.
- Moily Honored with ‘Special Award’ by Chennai-based NGO
Six parliamentarians have received ‘Sansad Ratna’ awards while former Karnataka Chief Minister and senior Congress leader M Veerappa Moily has bagged a special award for heading the parliamentary standing committee on finance.
- SVC Cooperative Bank awarded National Payments Excellence Award by NPCI
SVC Co-operative Bank has received the National Payments Excellence Award 2017 by National Payments Corporation of India (NPCI). It is the highest recognition in the banking industry for exceptional performance in payments system.
- Anupam Kher to be given Lifetime Achievement Award
Veteran film actor Anupam Kher will be given the prestigious Lifetime Achievement honour at the upcoming International Indian Film Academy awards ceremony in Bangkok.
- Corporation Bank bags award
Corporation Bank has bagged an award instituted by Investor Relations Society India. The bank was chosen for ‘Investor Relations Awards 2018’ under the category ‘Best Expectation Management (Mid Cap)’ for 2017-18.
- Vijay Goel Confers FICCI Smart Policing Awards 2018
Statistics and Programme Implementation Minister Vijay Goel conferred FICCI Smart Policing Awards 2018 to police officials of central armed police force and states police in New Delhi.
- PM Modi gives Padma Shri award to Tommy Koh
Prime Minister Narendra Modi handed over the Padma Shri award, India’s fourth highest civilian awards, to former Singaporean diplomat Tommy Koh.
- Kerala Cartoonist Thomas Antony wins International Award
Kerala cartoonist Thomas Antony has won an international award, in the best caricature category. Antony is among the nine winners at the 13th edition of the World Press Cartoon awards, instituted by an organisation based in Lisbon, Portugal.
SPORTS & GAMES
- ISSF Junior World Cup: Saurabh Chaudhary sets World record
Sixteen-year-old Indian shooter Saurabh Chaudhary set a new world record on the way to winning a gold medal in the ISSF Junior World Cup in Suhl, Germany. Saurabh shot a total of 243.7 in the 10m air pistol event in the ongoing International Shooting Sports Federation (ISSF) tournament.
- Lewis Hamilton wins French Grand Prix
Lewis Hamilton of Mercedes team won the French Grand Prix. Ferrari’s Sebastian Vettel was given a five-second penalty for creating a collision with Valtteri Bottas. Sebastian Vettel finished the race in the fifth position. Red Bull’s Max Verstappen secured second place. Ferrari’s Kimi Raikkonen finished in the third position.
- Borna Coric wins Halle Open 2018
Crotia’s Borna Coric defeated Swiss tennis ace Roger Federer in the final of the Halle Open 2018. Coric, 21, won 7-6 (8-6) 3-6 6-2 to end the Wimbledon champion – Roger Federer’s run of 20 consecutive victories on grass. With this Spainard, Rafael Nadal took over as World No. 1
- Sandeep Sejwal clinches gold
Indian swimmer Sandeep Sejwal clinched the gold medal in men’s 50 meter breaststroke event with a timing of 27:59 seconds at the Singapore National Swimming Championships in Singapore. Besides, Virdhawal Khade grabbed a silver medal in the 50 meter freestyle event with a timing of 22.68 seconds.
- Second Youngest Chess Grandmaster
Soon after Chennai’s R Praggnanandhaa completed his third norm – beating Italian Grandmaster Luca Moroni in the eighth round of the Gredine Open at Ortisei in Italy, he has become the second youngest Grandmaster in chess history at the age of 12 years, 10 months, 13 days.
- Kidambi Srikanth wins Sportsperson of the year award
The Commonwealth Games 2018 gold-medal winning shuttler Kidambi Srikanth, was adjudged as the ‘Sportsperson of the Year for 2017’ by the Sports Illustrated India magazine.
- New Zealand’s teenage player Amelia Kerr sets world record
New Zealand’s teenage player Amelia Kerr has created a world record in the women’s ODI cricket by scoring an unbeaten 232 runs in a match against Ireland in Dublin. Amelia Kerr was 17 years old. She recorded 232 runs (unbeaten) that included 31 boundaries and 2 sixes, in 145 balls.
- Brooks Koepka wins US open 2018
Brooks Koepka wins US Open 2018 by defeating Tommy Fleetwood at Shinnecock Hills becoming first player in 3 decades to successfully defend his title. Earlier the record was in name of Curtis Strange who won back to back titles in 1988 and 1989.
- Shikhar Dhawan becomes first Indian to score century before lunch
Shikhar Dhawan became the first Indian batsman to score a hundred before lunch on the opening day of a Test match. The Delhi left-hander achieved the feat in the opening session of the first day of the one-off Test match against Afghanistan in Bengaluru.
- Federer claims 98th ATP title with victory in Stuttgart
Roger Federer claimed his 98th ATP title and re-established his unrivalled superiority on grass with a 6-4, 7-6 (7/3) victory over Milos Raonic in the Stuttgart Cup final.
- French Open 2018
The 2018 French Open (also known as Roland Garros) was a Grand Slam tennis tournament played on outdoor clay courts. It was the 122nd edition of the French Open and the second Grand Slam event of 2018. Rafael Nadal was the defending champion in the Men’s Singles and won his 11th French Open title. Simona Halep won her first Grand Slam title in the Women’s Singles.
- FIFA World Cup 2018 begins in Russia
21st Edition of FIFA World Cup 2018 started on June 14, 2018 in Russia and the final will take place at the 81,000-capacity Luzhniki Stadium on July 15, 2018. The 32-day tournament will feature 32 teams and 64 games. World Cup 2018 will be played out in 12 stadiums across 11 cities in Russia. This is the first time Russia is hosting the event.
- India Bags 3 Medals at Umakhanov Memorial Boxing Tournament
Indian boxers bagged one Gold and two Silver medals at the Umakhanov Memorial Tournament in the Russian city of Kaspiysk. Saweety Boora won the coveted yellow metal in the Women’s 75 kg category after beating Anna Anfinogenova (Russia) in the Final. In the Men’s section, Brijesh Yadav in the 81 kg division and Virender Kumar in 91 kgs lost their Final bouts to settle for Silver medals. Earlier, India had claimed four Bronze medals in the Tournament.
- India beat Kenya to win Intercontinental Cup
Indian captain Sunil Chhetri scored a brace to put himself on par with Lionel Messi and lead the home side to Intercontinental Cup title triumph with a 2-0 win over Kenya in the summit clash. Playing in his 102nd international match, Chhetri struck in the eighth and 29th minutes to hand a dominant India the trophy.
- India Wins 17 Medals at Asian Junior Athletics Championships 2018
The 2018 Asian Junior Athletics Championships was the 18th edition of the International athletics competition for Asian under-20 athletes.
- Harry Kane is the most valuable player of the FIFA World Cup 2018
Harry Kane has been named the most valuable player for the upcoming FIFA World Cup. Harry Kane is the lead striker of the English National Team. He is estimated to be worth 201.2 million euros. The values have been calculated by the CIES Football Observatory algorithm.
17.Kohli set to receive Polly Umrigar award
Virat Kohli will be honoured with the top BCCI award with Polly Umrigar Award for being the best international cricketer for the 2016-17 and 2017-18 seasons.
- Virat Kohli among highest-paid athletes
India cricket captain Virat Kohli is among the world’s highest-paid athletes, according to the Forbes World’s Highest-Paid athletes list topped by American boxing champion Floyd Mayweather. Kohli, the only sportsperson from India to be featured in the list, is ranked 83rd with earnings of $24 million.
19.FIFA lifts suspension on Guatemala
FIFA lifted a suspension imposed on Guatemala Football Association 18 months ago over its failure to comply with anti-corruption rules. The suspension prevented Guatemalan teams from participating in international competitions such as the Gold Cup, the Central American Games and the CONCACAF Champions League.
- India will become 5 Trillion dollar Economy
Addressing the diaspora in Athens, President Ram Nath Kovind reported that India is striving to become a $5 trillion economy and the world’s third largest consumer market by 2025.
- Majority of Indians in Lowest Wealth Group: BCG
A new report shows that 55% of the total wealth in the country is with those having less than $1,00,000 net worth. In contrast, only 18% of the global wealth is with those in this category. The Boston Consulting Group’s (BCG’s) Global Wealth Report 2018 also shows that those with more than $1 billion in personal wealth, have cornered 16% of total wealth in India.
- Fitch predicts India’s growth forecast to 7.4% for FY’19 & 7.5% for FY’20
The Indian GDP has been predicted to grow by 7.4% in FY19 by Fitch. It has earlier predicted GDP growth by 7.3% for FY 2018-19 and for FY20 it is 7.5%.
- Industry expects close to 8% GDP growth over next two years: CII
According to a report by Confederation of Indian Industries (CII) a growth close to 8% GDP in next 2 years is expected. Rs 50,000 crore worth of investments have been made. Fiscal prudence, able macroeconomic management, and strong reforms would be the reasons for the growth.
- World Bank forecasts 7.3 per cent growth for India
The World Bank has forecast a growth rate of 7.3 per cent for India this year and 7.5 per cent for the next two years, making it the fastest growing country among major emerging economies.
- FDI Inflows to India Fall by $4 Billion last year: UN report
Foreign Direct Investment to India decreased to 40 billion dollars last year from 44 billion dollars in 2016 while outflows from India, the main source of investment in South Asia, more than doubled, according to a new trade report by the UN.
- Government meets fiscal deficit target
Government has met its fiscal deficit target for 2017-18 at 3.53% of the Gross Domestic Product. Government in the Budget had revised the fiscal deficit target for 2017-18 to 3.5% from the earlier estimate of 3.2%.
- Indian Economy grows 7.7% in 4th quarter: Central Statistics Data
The Indian economy grew 7.7% in the fourth quarter of 2017-18. The GDP had expanded 5.6%, 6.3% and 7%, in the first three quarters of 2017-18, according to the data released by Central Statistics Office.
- Moody’s slashes India Growth Forecast to 7.3%
According to Moody’s Investors Service report India’s GDP forecast has gone down to 7.3% from 7.5% for 2018. This cut if because of higher oil prices. The forecast for 2019 is constant at 7.5%.
SCIENCE & TECHNOLOGY
- ISRO’s scientists discover an ‘EPIC’ planet
A team from the Physical Research Laboratory, Ahmedabad, has spotted for the first time a distant planet six times bigger than Earth and revolving around a Sun-like star about 600 light years away. Both the planet and the star have been named EPIC.
- Upgraded Pinaka rocket successfully test-fired
The Defence Research and Development Organisation (DRDO) has successfully test-fired upgraded guided version of Pinaka Rocket from Proof & Experimental Establishment (PXE) at Chandipur, Odisha.
- Anoop Kumar Pandey to replace Rajiv Kumar as UP’s Chief Secretary
Anoop Kumar Pandey would replace Rajiv Kumar as the Chief Secretary of Uttar Pradesh. Anoop Kumar Pandey is a 1984-batch Indian Administrative Services (IAS) officer. He will replace Rajiv Kumar as the Chief Secretary of Uttar Pradesh. Rajiv Kumar will retire on June 2018. At present Anoop Kumar Pandey is the Industrial and Infrastructure Development Commissioner (IIDC) in Uttar Pradesh.
- Kanwaljeet Jawa appointed as board member of Daikin
Daikin Industries Ltd has appointed its India operations MD & CEO Kanwaljeet Jawa into the board of the parent company. Kanwaljeet Jawa will be the first Indian on the Daikin Industries board. He will be a part of the 10 member board council. Kanwaljeet Jawa joined Daikin India in 2010 as the COO. He was then promoted as the MD & CEO of the Company.
- Anant Barua appointed as whole-time member of SEBI
The Union Government has appointed Anant Barua as whole-time member of the Securities and Exchange Board of India (SEBI).
- Arijit Basu appointed SBI’s new MD
The government appointed Arjit Basu as Managing Director of the country’s largest lender State Bank of India (SBI). He will fill the position that fell vacant following the elevation of Rajnish Kumar as the chairman. Now, after this, the SBI will have four managing directors. As per the SBI Act, the bank can have four managing directors.
- K Vijay Kumar appointed advisor to J&K Governer
Retired IPS officer K Vijay Kumar has been appointed as an Advisor to the Governor of Jammu & Kashmir governor. Until recently, he was Security Advisor to the Union Home Minister. Besides, IAS officer BB Vyas has been appointed the Chief Secretary of the state.
- B V R Subramanyam appointed as J&K Chief Secretary
B V R Subrahmanyam, a senior IAS officer of the Chhattisgarh cadre, was appointed as the chief secretary of Jammu and Kashmir. The 55-year-old bureaucrat, who hails from Andhra Pradesh, has been appointed in place of incumbent B B Vyas.
- Sunil Mittal to be ICC’s Honorary Chair
Sunil Bharti Mittal, the Founder & Chairman of Bharti Enterprises, stepped down as the Chairman of International Chamber of Commerce (ICC). He will be succeeded by Paul Polman, CEO of Unilever, as ICC Chairman. Ajay Banga, the President and CEO of Master Card will be appointed as the ICC First Vice-Chair.
- SBI MD B.Sriram appointed MD & CEO of IDBI Bank
State Bank of India Managing director B.Sriram was appointed as the MD & CEO of IDBI bank for a temporary term of 03 months. B.Sriram has been appointed in place of incumbent Mahesh Kumar Jain. Mahesh Kumar Jain was made Deputy Governer of the RBI recently.
- Ex RBI Dy Governor R Gandhi as Advisor
One 97 Communications, which runs paytm has appointed former RBI Deputy Governor Rama Subramaniam Gandhi as an advisor. Gandhi was a member of the first monetary Policy Committee. He has also been the head of two regional offices of the RBI.
- Sikkim govt appoints A.R. Rahman as its Brand Ambassador
Renowned music composer A.R. Rahman has been appointed as the Brand Ambassador of the Sikkim government. He was appointed at the onset of ‘The Red Panda Winter Carnival 2018′, which aimed at increasing the flow of tourists.
- Atul Gawande as CEO of new Amazon
Eminent Indian-American surgeon, writer and public health innovator Atul Gawande has been named as the CEO of a new US employee health care company,started by Amazon’s Jeff Bezos, Berkshire Hathaway’s Warren Buffett and JPMorgan Chase’s Jamie Dimon.
- Kannan appointed as ICICI Prudential’s MD and CEO
The private lender ICICI Bank has appointed N.S. Kannan as the Managing Director and Chief Executive Officer (CEO) of ICICI Prudential Life Insurance Company.
- Inder Jit Singh appointed as coal secretary
The Appointments Committee of the Cabinet (ACC) has cleared the appointment of Inder Jit Singh as the coal secretary. Inder Jit Singh is an Indian Administrative Service (IAS) officer of the 1985 batch of Kerala cadre. He was the additional secretary, coordination in the cabinet secretariat..
13.Deepak Raj Joshee recommended as new CJ of Nepal
The Constitutional Council of Nepal has recommended Justice Deepak Raj Joshee as new Chief Justice of the Supreme Court.
- Bandhan Bank appoints H R Khan as chairman
The board of directors of the Bandhan Bank has appointed former Reserve Bank of India’s Deputy Governor, Harun Rasid Khan, as the non-executive, part time Chairman of the bank.
- Arvind Saxena appointed acting UPSC chief
UPSC member Arvind Saxena has been appointed as the acting chairman of the commission, a government order said. Saxena, a 1978-batch Indian Postal Service officer, will take over the charge from incumbent Vinay Mittal who completes his term at the Union Public Service Commission (UPSC) on June.
- Ex NIA chief Sharad Kumar appointed vigilance commissioner
Former NIA chief Shri Sharad Kumar has been appointed as the Vigilance Commissioner in the Central Vigilance Commission, New Delhi for a term of four years from the date on which he enters upon his office, or till he attains the age of sixty five years, whichever is earlier.
- Ex-RBI deputy governor R Gandhi joins EPS board
R Gandhi, former deputy governor of RBI (Reserve Bank of India) has joined the board of Electronic Payment Services (EPS) as independent director.
- New CEO for Rajiv Gandhi Foundation
Social entrepreneur Mr Vijay Mahajan has been selected as the Secretary & CEO of Rajiv Gandhi Foundation & the director of Rajiv Gandhi Institute for Contemporary Studies.
- Mahesh Kumar Jain appointed as Dy Governor of RBI
Mahesh Kumar Jain has been appointed as Deputy Governor of the Reserve Bank of India (RBI) for a term of three years. Presently, he is the Managing Director and CEO of IDBI Bank. Before his role in IDBI, Jain was the Managing Director and Chief Executive Officer of Indian Bank.
- Palo Alto names former SoftBank exec Nikesh Arora CEO
Palo Alto Networks Inc, a Cybersecurity firm, appointed former SoftBank Group Corp president Nikesh Arora as Chief Executive Officer and Chairman.
- Amit Khare assumes charge as I&B Secretary
An IAS officer Amit Khare assumed charge as Secretary in the Ministry of Information & Broadcasting on superannuation of Narendra Kumar Sinha.
- Krishna Murari as CJ of Punjab & Haryana HC
The Union Law Ministry has cleared the appointment of Justice Krishna Murari of the Allahabad High Court as the Chief Justice of Punjab and Haryana High Court.
- Pankaj Saran appointed deputy NSA
The current ambassador to Russia Pankaj Saran was appointed deputy National Security Advisor by the Appointment Committee of the Cabinet (ACC) for a period of two years. Saran, 1982 IFS, was appointed Indian ambassador to Russia in January last year
- SBI MD Sriram Resigns
SBI managing director B Sriram has resigned from the country’s largest lender after his appointment as chief executive of IDBI Bank. The development assumes significance amid reports that insurance behemoth LIC is mulling acquiring a majority stake in the debt-ridden state-owned bank.
- Pakistan’s National Security advisor Nasser Khan Janjua resigns
Pakistan’s National Security Advisor Nasser Khan Janjua resigned from his post. Succeeding Sartaj Aziz, Janjua took over as Pakistan’s NSA in October 2015, he served as the NSA since then.
- Justice Chamleswar retires from SC
Jasti Chelameswar has retired as Supreme Court judge on June 2018. Justice Chelameswar, who had held presser along with three other Supreme Court judges to highlight discrimination in allocation of cases to benches, said that the credibility of the highest judiciary in danger.
- Supreme court judge Jasti Chelameswar resigns
Supreme court judge Jasti Chelameswar will resign after a nearly 07 year tenure in the apex court. Justice Jasti Chelameswar is one of three judges, who has opposed Chief Justice of India (CJI) Deepak Misra’s selective allocation of cases.
- CEA Arvind Subramanian resigned
The Chief Economic Advisor (CEA) of India, Arvind Subramanian had resigned from the post and will return to the US because of “pressing family commitments”. The announcement was made by Mr Arun Jaitley.
- Mehbooba Mufti resigns as J&K CM
Jammu & Kashmir’s Chief Minister Mehbooba Mufti submitted her resignation to the Governor after BJP announced to pull out of an alliance with Peoples Democratic Party (PDP). The reason for the pullout was failure to control the situation in the state and meet its promises.
- World’s most experienced Spacewoman Peggy Whitson retires
NASA’s record-breaking astronaut, Peggy Whitson, retired after a 22-year-long career. Whitson, who joined NASA as a researcher in 1986, has spent more time off Earth than any other American, totalling 665 days over three International Space Station missions.
- Cricket Australia CEO Sutherland announces resignation
Cricket Australia Chief Executive Officer James Sutherland informed the Chairman & board of Cricket Australia his intention to resign from his current position. James Sutherland started working with Cricket Australia in 1998. He became CEO of Cricket Australia in 2001. He has given 12 months notice. He will continue as CEO until a new person is appointed.
- Former oil secretary Vivek Rae quits IOC board
Former oil secretary Vivek Rae has resigned as independent director from the board of Indian Oil Corporation (IOC) owing to differences with the company management.
- Award winning poet Donald Hall passes away
Award-winning American poet and writer Donald Hall passed away at the age of 89. He was the United States Poet Laureate for 2007-’08 and received the Robert Frost Medal in 1991 and the National Medal of Arts, the nation’s highest honour for artists, in 2010.
- Former South Korean PM Kim Jong-pil passes away
Kim Jong-pil, the founder of South Korea’s spy agency whose political skills helped him also serve twice as prime minister, has died. He was 92. A retired lieutenant colonel, Kim was a key member of a 1961 coup that put army Maj. Gen. Park Chung-hee in power.
- Veteran journalist Adiraju Venkateswara Rao passes away
Senior journalist and writer Adiraju Venkateswara Rao passed away. He was 79. Rao worked in different Telugu and English newspapers. He also authored several books.
- Brazilian tennis great Maria Bueno dies
Brazilian tennis great Maria Bueno passed away after a battle with mouth cancer, according to a statement by the hospital. She was 78. Bueno was a former top-ranked player who spent most of her career on the court before the professional era.
- Former Union Minister and Congress leader LP Shahi dead at 98
Senior Congress leader and former Union Minister L.P. Shahi died at the All India Institute of Medical Sciences (AIIMS).
- Celebrity chef Anthony Bourdain dead
US Anthony Bourdain, celebrity chef, adventurer and television host, has died at the age of 61. Anthony Bourdain attends a summit in New York City in April Bourdain was in France shooting for the upcoming episode of his award-winning CNN series, ‘Parts Unknown’ during which he was found dead in his hotel room.
- Ex-Himachal Pradesh governor Urmila Singh passes away
Former Himachal Pradesh governor and Congress leader Urmila Singh died due to prolonged illness at a private hospital in Indore. She was 71. Singh was appointed as the governor of Himachal Pradesh in 2010.
- Seychelles President’s visit to India
Seychelles President Danny Faure is on his first bilateral visit to India. He held the talks with Prime Minister Narendra Modi & reviewed the wide-ranging cooperation between the two countries, including in the fields of defence and security.
- Nepal PM KP Sharma Oli visits China, signed agreements
Nepali Prime Minister Khadga Prasad Sharma Oli is on his first visit to China after assuming the charge as Prime Minister. China will build a railway connecting the western region of Tibet with Nepal, one of several bilateral deals signed during Oli’s visit to Beijing. The link will connect the Tibetan city of Xigaze with Nepal’s capital Kathmandu.
- Dharmendra Pradhan on a visit to Austria & Germany
The minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship Dharmendra Pradhan returned from his visit to Austria & Germany. Dharmendra Pradhan participated in the 7th OPEC international seminar organised by the Organisation of Petroleum Exporting Countries (OPEC) as a special guest in Vienna, Austria.
- President 3-Nation Visit
India and Cuba have signed two MoUs in the field of biotechnology, traditional medicine and homoeopathy. The agreements talks between President Ram Nath Kovind and his Cuban counterpart Miguel Mario Díaz-Canel in Havana. Cuba also reiterated its support to India’s candidature for a permanent seat in UN Security Council.
- PM Modi 3-Nation Visit completed
Prime Minister Narendra Modi returned to New Delhi after concluding his significant and successful three-nation visit to Indonesia, Malaysia and Singapore.
- Sonakshi joins UNESCO
Sonakshi Sinha joins UNESCO to promote safe & secure online environment for children and help empower our future digital citizens. Stressing on the importance of education on the safe use of online spaces, the actress said it will equip boys and girls to be prepared to report any type of abuse or exploitation.
- India’s first Tribal Queen
Pallavi Durua, who belongs to Odisha’s Koraput district, was crowned as the first Tribal Queen at the Adi Rani Kalinga Tribal Queen competition held at Utkal Mandap. The contest was organised by SC & ST department, Govt of Odisha and the State Tourism Department. Tribal population constitutes nearly 22.5% of the Odisha’s population.
- US Scientists Create World’s Smallest Computer
US Scientists in the University of Michigan have developed the world’s smallest computer. It measures just 0.3 millimetres and could help find new ways to monitor and treat cancer.
- Swachh Bharat Rankings 2018: Indore tops again
Indore won the cleanest city tag for the second time in a row, while 19 of the 25 dirtiest cities in the country are in West Bengal, a nationwide cleanliness survey by the Union housing and urban affairs ministry has found.
- Yoga World record created in Kota
Guinness world record was created by conducting the largest yoga session on International Yoga Day at Kota, Rajasthan where 1 lakh people together performed yogic exercises. Yoga guru Ramdev conducted the yoga session attended by Chief Minister Vasundhara Raje, ministers, officers and local people at RAC ground.
- Memoir of Priyanka Chopra to be published in 2019
Bollywood Actor Priyanka Chopra will come out with her memoir in 2019 in which she will write about things which she has never spoken before. The memoir named ‘Unfinished’ is a collection of personal essays, stories and observations of the actor, producer, activist and UNICEF goodwill ambassador.
- Jeff Bezos becomes richest man in the world
Amazon founder and CEO Jeff Bezos becomes the richest man in the world with a net worth of USD 141.9 billion according to the Forbes world’s billionaire list. Bezos beat the principal founder of Microsoft Corp.
- Anukreethy Vas Crowned Femina Miss India 2018
Anukreethy Vas, a 19-year-old Tamil Nadu college student, has been crowned Femina Miss India 2018 in a grand ceremony in Mumbai hosted by filmmaker Karan Johar and actor Ayushmann Kurrana.
- Meghana becomes 1st woman IAF fighter pilot from south India
Flying Officer Meghana Shanbough MR from Karnataka has become the first woman Indian Air Force fighter pilot from south India. Before her, only five other female fighter pilots have joined the ranks. She graduates from the Air Force Academy (AFA) in Dundigal.
- Mukesh Ambani tops Forbes’ 2017 list of India’s 100 richest tycoons
Reliance Industries Ltd (RIL) chairman Mukesh Ambani has topped Forbes annual list of India’s 100 richest tycoons of 2017, With a net worth of $38 billion. The richest newcomer in the list is Wadia Group of companies Chairman Nusli Wadia (No. 25, $5.6 billion). At $19 billion, the net worth of Wipro’s Azim Premji – who jumped two places up over last year to become the second richest Indian on the list.
BOOKS IN NEWS
- Vice President launches the book ‘Human Rights, Values and Cultural Ethos’
Hon’ble Vice President of India Shri M. Venkaiah Naidu has launched the book ‘Human Rights, Values and Cultural Ethos’. It is a collection of essays and lectures written by Dr. R.P. Dhokalia.
- Vice President Receives the Book ‘Vedvigyan Alok’
The Vice President of India, M. Venkaiah Naidu has received the book “Vedvigyan Alok” (Maharishi Aitareya Mahidas Praneet – Aitareya Brahmina ki Vaigyanik Vyakhya) authored by Acharya Agnivarat.
- NABARD releases book on Indian Crops
Shri Nitin Gadkari released a book ‘Water productivity mapping of major Indian crops’ published by NABARD. The book is based on a study of 10 important crops.
- Youngest Author of India
Four year old Ayan Gogoi Gohain of North Lakhimpur district, Assam was honoured with the ‘Youngest Author of India’ title by the Indian Book of Records. Ayan Gogoi Gohain has been honoured with this title for his book ‘honeycomb’. The book was published in January 2018.
- Vice President releases book ‘Straight Talk’
The Vice President, Shri M. Venkaiah Naidu has released the book ‘Straight Talk’ authored by the Member of Rajya Sabha, Shri Abhishek Manu Singh. The former Prime Minister, Dr. Manmohan Singh and other dignitaries were present on the occasion.
- Committee to spread Mahatma Gandhi’s legacy
Government has set up an executive committee under the chairpersonship of Narendra Modi to “spread Mahatma Gandhi’s legacy” among the people at national & international level. Committee comprises of cabinet ministers, renowned Gandhians, social activists & public figures.
DAYS & DATES
- June 29: National statistics day
Vice President Venkaiah Naidu will attend the closing ceremony of the 125th birth anniversary of Professor P. C. Mahalanobis on Statistics Day on 29th June. The theme of 2018 is – Quality Assurance in Official Statistics.
- 26 June: International day against drug abuse & Illicit Trafficking
The General Assembly of United Nations has decided to observe 26 June as the International Day against Drug Abuse and Illicit Trafficking as an expression of its determination to strengthen action and cooperation to achieve the goal of an international society free of drug abuse. The theme for 2018 is ‘Listen First – Listening to children and youth is the first step to help them grow healthy and safe’.
- 25 June: Day of the Seafarer
The Day of the Seafarer is being observed every year on 25 June across the globe as an expression of thanks to the seafarers for their contribution to to the economy and civil society of the world. The theme for year 2018 is ‘Seafarers wellbeing’. It highlights issues of seafarers wellbeing, particularly mental health.
- 21 June: International Yoga Day
International Day of Yoga, or commonly and unofficially referred to as Yoga Day, is celebrated annually on 21 June since its inception in 2015. An international day for yoga was declared unanimously by the United Nations General Assembly (UNGA). The theme for Yoga Day 2018 is ‘Yoga for Peace’.
- 16 June: International Day of Family Remittances
The International Day of Family Remittances (IDFR) is observed every year on 16 June across the world. It is aimed at recognizing significant financial contribution migrant workers make to wellbeing of their families back home and to sustainable development of their countries of origin.
- June 12: World Day against Child Labour
ILO launched the World Day Against Child Labour in 2002 to focus attention on the global extent of child labour and the action and efforts needed to eliminate it. The theme for World Day against Child Labour 2018 is ‘Generation Safe & Healthy’.
- 8th June: World Ocean day
On June 8th each year, we celebrate the ocean, its importance in our lives, and how we can protect it. World Oceans Day helps raise the profile of the ocean and inspire more involvement in helping to conserve this amazing resource we all depend on.
- 05 June: World Environment Day
World Environment Day is the United Nations’ (UN) most important day for encouraging worldwide awareness and action for the protection of our environment. Since it began in 1974, it has grown to become a global platform for public outreach that is widely celebrated in over 100 countries. The theme for the World Environment Day 2018, ‘Beat Plastic Pollution’.
- 31 May: World No Tobacco Day is being observed
World No Tobacco Day (WNTD) is observed around the world every year on 31 May to raise awareness of the dangers of tobacco and advocate for effective policies to reduce tobacco consumption. The theme of World No Tobacco Day 2018 is ‘Tobacco and heart disease’.
- RBI proposes Board of Management for urban co-operative banks
The Reserve Bank of India (RBI) has proposed setting up of Board of Management (BoM) in all Urban Co-operative Banks (UCBs) having deposits of over Rs 100 crore within one year to strengthen governance and promote professional management in these banks.
- India is the largest borrower from AIIB
With the total project portfolios of US$4.4 Billion, India has been the largest borrower of Asian Infrastructure Investment Bank (AIIB) lending since the time the Bank started its operations. Unlike most other multilateral development banks set up by advanced economies, AIIB is the first major multilateral development bank where principal contributors are the borrowing members themselves.
- HDFC Bank featured in Brandz ranking
HDFC Bank has featured at 60th rank in the Brandz Top 100 Most Valuable Global Brands ranking. The brand value of HDFC Bank at $20.9 billion, up 22%.
- Karnataka Bank launches ‘Deposit Only Card’
Karnataka Bank Ltd has launched ‘KBL-Deposit Only Card’ that enables hassle-free cash deposit transactions at the bank’s 24X7 e-lobby services. This card is specially meant for the bank’s current/overdraft customers.
- RBI eases norms for FPIs to invest in debt
The Reserve Bank of India has eased investment norms for foreign portfolio investors (FPIs) in debt especially into individual large corporates. The move will help attract more overseas flows and thereby help arrest the recent fall in the rupee on one hand and also lift the recent fall in demand for corporate bonds.
- Mobile Banking rank by SBI’s annual report
At 17.2%, Axis Bank commands the largest value share of mobile banking transactions but it’s Paytm that tops volumes with 22%. However, Paytm’s value share is a meagre 0.25%, according to State Bank of India’s (SBI) annual report for 2017-18 which has put out RBI’s data for January 2018.
- RBI to raise $30-35 bn via NRI bonds
On the backdrop of rising oil prices and shortfall in FPI inflows to the country the RBI is expected to raise $30-35 billion via NRI bonds to raise the rupee . FPI has been slowed down amidst political volatility and with listing of Chinese forms in global benchmark indices.
- RBI Hikes Repo Rate By 25 Basis Points To 6.25%
In its second bi-monthly monetary policy review, the six member Monetary Policy Committee headed by RBI Governor Urjit Patel unanimously hiked the policy repo rate by 25 basis points to 6.25 percent to curb inflationary pressure from rising crude prices.
Repo Rate 6.25%
Reverse Repo Rate 6.00%
Marginal Standing Facility (MSF) 6.50%
Bank Rate 6.50%
- SBI, PNB, ICICI Banks rises lending rates
India’s major banks SBI, PNB and ICICI Bank raised the lending rate making the loans costlier. SBI has increased the lending rate by 10 basis points across all tenors up to three years. The state-owned Punjab National (PNB), the country’s second largest lender, raised the MCLR for three-year and five-year tenors to 8.55% and 8.7%, respectively. Country’s second largest private bank ICICI Bank too said it has raised five-year tenor MCLR by 10 bps to 8.70%. It has also raised the MCLR by 10 bps in loans with tenor of one year and three years.