Current Affairs Current Affairs: `18^(th)` June 2017
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Current Affairs: `18^(th)` June 2017

Connaught Place is ninth most expensive office market in world, Mumbai lags

i. Connaught Place in the national capital is the most expensive prime office market in India and the ninth most expensive office market in the world, with an occupancy cost of $153.89 per square feet, according to the bi-annual Global Prime Office Occupancy Costs survey of US-based CBRE.

ii. Acc. to the survey, Mumbai’s Bandra Kurla Complex (BKC) moved one place up from nineteen to 20 while the CBD of Nariman Point ranked thirty-third on the list of the top 50 most expensive office markets around the world.

iii. Hong Kong (Central) became the world’s highest-priced office market with an occupancy cost of $302.51 per sq ft per annum. Asia continues to dominate the list of the world’s most expensive office locations, accounting for seven of the top ten markets, according to the survey.


Important Takeaways from Above News-

● In 1994, CBRE was the first international real estate services firm to set up an office in India.


Govt ropes in Amitabh Bachchan to promote GST

i. The government has roped in Bollywood megastar Amitabh Bachchan to promote Goods and Services Tax (GST), ahead of the sweeping tax reform’s implementation scheduled from July 1.

ii. The Central Board of Excise and Customs (CBEC) will be making the 74-year-old Bachchan brand ambassador for GST. The megastar has been roped in just as the rollout of the biggest tax overhaul since independence entered its final phase. Ace badminton star PV Sindhu was previously the GST ambassador.


Important Takeaways from Above News-

● GST Council is Headed by Finance Minister of India Arun Jaitley.


RBI initiates Prompt Corrective Action against Bank of Maharashtra as NPA mounts

i. The Reserve Bank of India has initiated prompt corrective action (PCA) on Bank of Maharashtra placing a restriction on the banking activities. This RBI has said that the action is taken on the bank in view of the high level of bad loans.

ii. This is the sixth bank to be placed under PCA by the RBI and of this five banks were placed under PCA in the last three months. RBI has initiated PCA on Central Bank of India, IDBI Bank, UCO Bank, Dena Bank and Indian Overseas Bank. The move will restrict the bank from announcing the dividend, opening branches, hiring and giving loans to companies rated below investment grade.


Banking Takeaways-

● The Reserve Bank of India was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934.

● RBI was nationalized in 1949.

● R. P. Marathe is the Managing Director & CEO of Bank of Maharashtra.

● The Head Office of BoM is in Pune, Maharashtra.


DGCA suspends Air Carnival’s flying permit

i. The Directorate General of Civil Aviation (DGCA) has suspended the flying licence of Coimbatore-based carrier Air Carnival, which has not operated a single flight since early April.

ii. With this, Air Carnival has become the third regional carrier, after Air Pegasus and Air Costa, whose air operator permit has been suspended by DGCA in the last eight months. The DGCA has suspended Air Operator Permit (AOP) of Air Carnival after it failed to satisfy the regulator in its response to the show-cause notice.


Important Takeaways from above News:

● DGCA is the regulatory body governing the safety aspects of civil aviation in India.

● Pusapati Ashok Gajapathi Raju is the Union Minister for Civil Aviation.

Kidambi Srikanth lifts Indonesia Open

i. India’s Kidambi Srikanth has lifted the Indonesia Open Super Series badminton title by defeating Japanese qualifier Kazumasa Sakai in straight games 21-11, 21-19 in the Men’s Singles final at Jakarta, Indonesia.

ii. For World No.22 Srikanth, it is his third Super Series title. He had earlier won the 2014 China Open and 2015 India Open.


Important Takeaways from Above News-

● Jakarta is the capital of Indonesia.

● Joko Widodo is the President of Indonesia.


‘Harry Potter’ Actor Sam Beazley Dies At The Age Of 101

i. Actor Sam Beazley, who played Professor Everard in Harry Potter and the Order of the Phoenix, has passed away at the age of 101.

ii. Beazley began his professional acting career as a teenager in 1930s and featured in films like Hamlet, and Romeo and Juliet.

Government sets up GST facilitation cell in DIPP

i. The government has set up a GST facilitation cell in Department of Industrial Policy and Promotion (DIPP) to facilitate the rollout of Goods and Services Tax. The cell is headed by Economic Advisor Sudhansu Sekhar Das.

ii. The cell will remain in constant touch with major industry and business associations relating to the Department. It will be the first point of contact for addressing any issue being faced by any sector related to the Department.


Important Takeaways-

● DIPP comes under the Government of India- Ministry Of Commerce & Industry.

● Smt. Nirmala Sitharaman is the Minister of State for Commerce and Industry (Independent Charge).

●The Department of Industrial Policy & Promotion was established in 1995 and has been reconstituted in the year 2000.


 
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