Current Affairs
Select Date
Tags:
Hindi

Important Current Affairs of 7th May

NATIONAL:

INS Vishal: India, UK in talks to replicate Naval Supercarrier.

• Art aircraft carrier along the lines of Britain's HMS Queen Elizabeth as part of the ongoing 'Make in India' negotations, according to a media report.

• The talks are under way for the Indian Navy to buy detailed plans for the 65,000-ton British warship to build a so-called "copycat supercarrier" to be named INS Vishal in 2022.

• "An Indian delegation has already visited Rosyth dockyard in Scotland where HMS Queen Elizabeth was assembled and where a second supercarrier, HMS Prince  .

NEET chance: HRD Ministry to decide on Karnataka’s request

• HRD Ministry on Monday assured the Karnataka Government it would soon decide on their request to allow over 500 students from the State, who missed the NEET exam on Sunday due to a train delay.

• HRD Minister Prakash Javadekar announced that the National Testing Agency will conduct NEET exam again for those students of Karnataka who missed their exam as their train was delayed which has come as a major relief to the candidates.NEET for these students will be conducted on May 20.

• Nearly 365 students from north Karnataka had missed appearing for the National Eligibility cum Entrance Test (NEET) on May 5, as the train in which they were travelling reached Bengaluru over seven hours late.

Bombs hurled, booths ‘looted’ in West Bengal

• A helpless Election Commission of India watched Bengal’s poll percentage drop by notches even as sporadic violence, bombing and booth-capturing marred the fifth phase of elections too with both the Opposition BJP and Left Front and the ruling Trinamool Congress accusing each other of “rampant rigging.

• Reports of violence and booth jamming came in from Barrackpore where the turncoat TMC strongman and former MLA Arjun Singh was fighting against former Union Minister Dinesh Trivedi.

• While a suave and composed Trivedi was seen playing cricket with children amid overseeing polling, Singh ran from booth to booth alleging massive rigging by TMC workers. He reportedly exchanged fisticuffs with police officials before complaining that “the police were helping the TMC rig elections. He fell down and injured himself while chasing away ‘outsiders’.

• Bombs were hurled at Himli Saolapara in Gaighata Assembly segment of Bongaon parliamentary constituency where one TMC supporter received head injuries. Later the CAPF resorted to massive lathi-charge.

INTERNATIONAL:

US wants India to eliminate trade barriers for American companies: Ross

• The US wants India to eliminate trade barriers for American companies and remove restrictions with regard to data localisation to cut the cost of doing business, visiting US Commerce Secretary Wilbur Ross said Tuesday.

• "Our goal is to eliminate barriers to the US companies operating here including data localisation restrictions that actually weaken data security and increase the cost of doing business," he said here.Ross was speaking at the Trade Winds Forum and Trade Mission. He is accompanying a delegation of over 100 American businesses.He also alleged that India imposes very high import duties on goods like automobiles, motorcycles, agri products and alcoholic beverages."

•  Currently US businesses face significant market access barriers in India. These include both tariff and non-tariff barriers as well as multiple practices and regulations to the disadvantage of foreign companies."India's average applied tariffs rate is 13.8 per cent and that remains the highest of any major world economy, the very highest.

• It has for example a 60 per cent tariff on auto, while the US has 2.5 per cent. It has 50 per cent tariff on motorcycles and 150 per cent on alcoholic beverages. Just a few extreme examples," he added.

US deploys carrier strike group to send ‘clear message’ to Iran

• The US is deploying an aircraft carrier strike group and a bomber task force in the Middle East to send a “clear and unmistakable” message to Iran that any attack on American interests or its allies will be met with “unrelenting force”, National Security Advisor John Bolton has warned.

• Bolton said on Sunday the decision to deploy the USS Abraham Lincoln Carrier Strike Group and a bomber task force to the US Central Command region in the Middle East was in response to a number of “troubling and escalatory indications and warnings” from Iran.

• The deployment of the strike group and bomber task force comes after US President Donald Trump last month refused to give waivers to countries like India from buying oil from Iran, in an attempt to reduce Iran’s oil exports to zero.

• After coming to power, Trump withdrew from the Iranian nuclear deal last year and has imposed stringent sanctions against what he describes as the “authoritarian” Iranian regime

BANKS AND ECONOMICS:

Yes Bank shares fall over 5%;  m-cap drops by Rs 2,135 cr

• Shares of Yes Bank on Monday dropped by over 5 per cent, wiping out Rs 2,135.29 crore from its market valuation, after ratings downgrade.The scrip tumbled 5.30 per cent to close at Rs 166.30 on the BSE.

• During the day, it tanked 5.75 per cent to Rs 165.50. It was the worst hit among the 30-front-line shares.On the NSE, shares dropped 5 per cent to close at Rs 167.In terms of volume, 43.12 lakh shares of the company were traded on the BSE during the day, while over 4 crore units changed hands on the NSE.The company’s market valuation fell by Rs 2,135.29 crore to Rs 38,515.71 crore on the BSE.

• The private sector lender had a double whammy Saturday after domestic rating agency ICRA downgraded its long-term ratings along with a negative outlook, citing a spike in its lower-rated advances and falling core capital buffers.The agency downgraded ratings on instruments totalling borrowings over Rs 33,000 crore by the lender, ICRA said.The bank had also reported its maiden loss of over Rs 1,506 crore in the March quarter, driven by a near ten-fold spike in provisions.

Hughes, Airtel to combine India VSAT biz

• Telecom operator Bharti Airtel and Hughes Communications India Ltd (HCIL) Tuesday announced they will combine their VSAT (Very Small Aperture Terminal) satellite operations in the country.

• HCIL is a subsidiary of broadband satellite networks and services provider Hughes Network Systems.Hughes will have majority ownership in the combined entity while Airtel will have a significant shareholding, according to a statement.

• The statement did not spell out the financial details of the transaction, which is subject to requisite approvals."The combined entity will benefit from enhanced scale, improved operational efficiencies and wider market reach.

• The combined entity will be well positioned to leverage the demand for secure connectivity in a rapidly growing digital economy," it said.VSAT is used to provide satellite based telecom and internet access to individuals and enterprise users.HCIL is a broadband satellite service operator in India, and offers a range of broadband networking technologies, solutions, and services for businesses and governments.

Ratan Tata invests in Ola Electric Mobility

• Ride hailing major Ola Monday said Ratan Tata, Chairman Emeritus of Tata Sons, has invested in its EV business — Ola Electric Mobility (OEM).This investment, which is part of OEM’s series A round of funding, is in Tata’s personal capacity, Ola said in a statement.

• Details of the funding were not disclosed.“His investment in Ola Electric will bring his deep experience and mentorship to the company’s ambitions to make electric mobility viable at scale,” it added.

• Tata is also an early investor in ANI Technologies, Ola’s parent company. He had invested in ANI Technologies in July 2015.In March this year, OEM had announced raising Rs 400 crore in a funding round led by Tiger Global and Matrix India.    

SPORTS:

Federer makes retirement claim ahead of Madrid return

• The topic of when Federer will finally hang up his racket has followed the Swiss for several years.But the 37-year-old has been able to put off 'Father Time' by continuing to win major trophies and remain in the top 10 in the world.And in a further show that he's not ready to quit, Federer has decided to play during the clay court season for the first time since 2016.

• Speaking in an interview with Spanish publication Marca ahead of the tournament, Federer was asked if he was surprised that he's still able to compete at such a highlevel at 37.

• And the 20-time Grand Slam revealed the major factor in his decision to carry on playing."A little, yes," Federer admitted."If you told me ten years ago that this would be happening, I wouldn't have believed it. I could have hoped for a top ten or top 20 place, but not this."If I'd been asked in 2009 if I would be playing in 2019 I'd have said only if I was still competitive."I have made my career and I do not need to play to lose in the second round in any tournament. My goal is to win, as I did at the beginning of the season."If I feel like I can't be the best, it's better for me to stop."I still enjoy the victories in Masters 1000 events or being world No 1, as I did last year in Rotterdam."In a wide-ranging interview, Federer was also asked about the clay court form of Rafael Nadal and Novak Djokovic.