Current Affairs June 10-11, 2015

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Current Affairs June 11, 2015

1. CAD shrinks to one year low of 0.2% : Current Account Deficit(CAD) fell sharply to its lowest level in a year at $ 1.3 billion or 0.2 % of GDP in the fourth quarter of 2014-2015. A few years back CAD was at a height of 4% of GDP. The reduction in CAD shows the strength and resilience of Indian economy .
2. Temasek is picking up 8% of investment amounting to Rs .110 crores in policy bazaar. Com : Policy bazaar .com is an Indian start-up which helps consumers to compare and buy insurance policies . Singapore’s sovereign fund Temasek is investing about Rs. 110 crore in this start-up.
3. Collegium appointed many inefficient judges : The Union Government is attempting to replace the old Collegium system of selection of judges with a new National Judicial Appointment Committee (NJAC). The Supreme court is not in favour of this . The attorney general Mukul Rohatgi has submitted to the Supreme court that there were many bad appointments and selection at the instance of Collegium.
4. India applies for membership of the Missile Club : India has applied for the membership of the Missile Technology Control Regime (MTCR) , a West dominated elite club of 34 countries that controls trade in missile and space technology.
5. Snapdeal is planning to bring consumers to brick-and-mortar stores : Snapdeal one of India’s largest e- commerce companies is planning to bring consumers to brick-and-mortar stores namely the local retail stores by tying up with them as a part of its omni-channel strategy .
6. LIC plans huge Upgrade in its Technical system: The Public Sector Life Insurance Corporation ( LIC), is upgrading its IT technology and hardware. They are ordering 590 ipads,1,25,000 desktop and laptops and one lakh finger print scanners. Many IT companies are taking part in the pre-bid discussion.
7. Indirect Tax collection up 37.3% in May, says Jaitley: Indirect Tax Collections continued strong growth for the second month indicating the growing strength of the Indian Economy. Collections rose by a whopping 37.3% in May.

Current Affairs June 10, 2015

1. Army enters Myanmar in hot pursuit of rebels : The para commanders of Indian army carried out combing operations deep inside Myanmar and killed several militants to pre- empt terror threats undeterred by borders.
2. Actor Shahrukh Khan buys Caribbean T20 team: Shahrukh Khan’s company has purchased the Trinidad and Tobago franchise in the Caribbean Premier League. Khan is the first owner of an overseas Cricket franchise.
3. ICICI Bank appoints M.K Sharma as new Chairman: Former HUL(Hidustan Uniliver Ltd.)Vice Chairman M.K Sharma has been appointed as the new non-executive Chairman of ICICI Bank. He will succeed K.V. Kamath.
4. Maggi allowed in Strict Singapore: Singapore’s food regulator declared Maggi noodles imported from India to be free from health risks. This will give some respite to Nestle.
5. Exim Bank facing Bad loan risk in Four Countries: The Export Import Bank of India ( EXIM ) , a Public Sector Bank now has an international bad loan problem. The bank’s exposure to Syria, Sudan, Djibouti and Guinea Bissau is under stress.