11-12 July 2017 Current Affairs

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12 Jul, 2017

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1) The US, Japanese and Indian navies on 10 July 2017 began the trilateral naval exercise titled ‘Malabar 2017’ that aims at achieving deeper military ties between the three nations. This exercise is being held in which ocean? – Indian Ocean

Explanation: ‘Malabar 2017’ is the 21st edition of the Malabar series of naval exercises and is being staged in the Indian Ocean. It is the largest such exercise ever and is taking place amid the military standoff between armies of the India and China in the Sikkim sector and Beijing ramping up its naval presence in South China Sea.

Taking part in the trilateral naval exercise are US Ship Nimitz (CVN68), guided missile cruise USS Princeton (CG59), guided missile destroyers USS Howard (DDG83), USS Shoup (DDG86) and USS Kidd (DDG100), a Poseidon P-8A aircraft, a Los Angeles fast-attack submarine, Japan Maritime Self Defence Force ships JS Izumo (DDH 183), JS Sazanami (DD1 13) along with Indian Naval Ship Jalashwa and INS Vikramaditya.

It is worth mentioning that Malabar exercise was originally started in 1992 as a bilateral exercise between India and the United States. Japan became a permanent partner in 2015. Past non-permanent participants are Australia and Singapore.

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2) What is the name of the newly-constituted committee of central bankers, of which India is expected to become a member soon? – Global Foreign Exchange Committee (GFXC)

Explanation: Global Foreign Exchange Committee (GFXC) is the name of a newly-constituted forum of central bankers and experts that works towards promotion of a robust and transparent forex market. It has been established under the guidance of the Bank for International Settlements (BIS), an international financial organisation owned by 60 member central banks, representing countries from around the world.

The newly expanded and formalisd GFXC, which will meet regularly, replaces a similar but more informal organisation of eight foreign exchange committees – namely those from Australia, Canada, Euro area, Hong Kong, Japan, Singapore, UK and the US.

India is soon expected to get a seat on the GSFX.

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3) According to the media reports of 10 July 2017, India will import crude oil for the first-time ever from which country? – United States

Explanation: India, the world’s third-largest oil importer, will import crude oil from the United States for the first time. For this purchase, Indian Oil Corporation (IOC) bought a cargo that will be delivered in October 2017.

Indian Oil will import 1.6 million barrels of US Mars crude, a heavy, high-sulphur grade, and 400,000 barrels of Western Canadian Select that will be delivered onboard a very large crude carrier.

The purchase comes after Prime Minister Narendra Modi’s visit to the US in June 2017 when President Donald Trump said his country looked forward to exporting more energy products to India.

India is the latest Asian country to buy US crude after South Korea, Japan, China, Thailand, Australia and Taiwan as the countries seek to diversify oil imports from other regions after the OPEC cuts drove up prices of Middle East heavy-sour crude, or grades with a high sulphur content.

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4) What is the name of the new mobile app for income tax launched on 10 July 2017 by Union Finance Minister Arun Jaitley that allows entities track TDS, pay taxes and apply for permanent account number (PAN)? – ‘Aaykar Setu’

Explanation: A mobile application (app) named ‘Aaykar Setu’, which literally means taxpayer’s bridge, was launched by Union Finance Minister Arun Jaitley on 10 July 2017.

It is a step by the I-T department to directly communicate with the taxpayers on a range of multiple informative and useful tax services aimed at providing tax information at their fingertips. It is expected to provide better taxpayer services and reduce grievances. ‘Aaykar Setu’ is initially available in Android version. With this app, most of the work the IT assesse can be discharged without any external help and sitting at home.

The app is capable of compiling various tax tools, live chat facility, dynamic updates, and important links to various processes within the I-T department in a single module.

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5) On 11 July 2017 who was named as the joint Vice-Presidential candidate of 18 opposition parties for the forthcoming Vice-Presidential elections? – Gopal Krishna Gandhi

Explanation: Former West Bengal Governor Gopal Krishna Gandhi was on 11 July 2017 named the joint candidate for the post of Vice President by eighteen opposition parties. The Trinamool Congress MP Derek O’ Brien proposed his name which was thereafter unanimously accepted by representatives of other political parties.

Gopal Krishna Gandhi is the grandson of Mahatma Gandhi as well as C. Rajgoplachari, first Governor General of India.

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6) Ravi Shastri was named of the Indian cricket team on 11 July 2017 after his name was approved by the BCCI-appointed Cricket Advisory Committee (CAC). He had earlier worked in which administrative position in team India? – Team Director

Explanation: Ravi Shastri was appointed the Director of the Indian cricket team by the BCCI in 2014 and he held this position till 2016 T20 World Cup. Earlier in 2007 he was appointed as the temporary coach of the Indian team after Greg Chappell resigned following the 2017 World Cup debacle.

On 11 July 2017 Shastri was appointed new Chief Coach of team India. He will hold the post for two years, until the ICC 2019 World Cup. He replaces Anil Kumble who resigned from the post on 20 June 2017 after occupying the post for less than 1 year, mainly due to differences with captain Virat Kohli.

Zaheer Khan has been named bowling consultant for the same tenure, while Rahul Dravid will be India’s batting consultant for overseas Test series.

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