Indian, Japanese & US Maritime Forces Begin Malabar Exercise
- Indian, Japanese and US naval ships, personnel and aircrafts have begun Malabar exercise 2018.
- The trilateral troops will practice surface, anti – submarine warfare operations and combined carrier strike group operations in the Guam Island in western Pacific region in the exercise.
- The exercise, which will be carried out from June 07 – June 18, is being held at a time where the Chinese intelligence is rumored to build artificial islands in the South China Sea and the Indian Ocean
Short-term subsidised crop loan to be implemented through direct benefit transfer mode: RBI
- The RBI announced that interest subsidy scheme on short-term crop loans of up to Rs 3 lakh will be implemented through the Direct Benefit Transfer Mode from the current financial year.
- The Centre has earmarked Rs 15000 crore for 2018-19 towards interest subvention for short-term crop loans.
- As per the scheme, farmers can avail of short-term crop loans of up to Rs 3 lakh at subsidised interest rate of 7 percent that could go down to 4 percent on prompt repayment.
Revised Guidelines for Maulana Abul Kalam Azad Trophy
- Minister of Youth Affairs & Sports Rajyavardhan Rathore approved the revised guidelines for Maulana Abul Kalam Azad (MAKA) Trophy.
- Under the revised guidelines, the applications from the universities, which were hitherto used to be invited and scrutinised by the Association of Indian Universities (AIU), will now be invited by the Ministry of Youth Affairs & Sports or Sports Authority of India.
- Criteria for calculation of marks for selection of universities for MAKA Trophy have been revised. Tournaments, which are held more than once a year, will not be considered for computation of marks.
Air India Seeks Rs 1000 Crore Loan To Meet Its Working Capital Requirement
- Air India has sought proposals for a short term loan of INR 1000 crore in order to meet its urgent working capital requirement
- The loan would be drawn in June in one or more than one branches. The national airline has asked the banks to submit their bids by June 13.
- The tenure of the loan would be one year (renewable) from the date of availing the loan
Government Task Force Removes Names of 2 Lakh 26 Thousand Shell Companies
- Government task force has recently identified and removed 2 lakh 26 thousand shell companies from the register of companies for the financial year 2018 – 19.
- The companies have not filed their annual returns for at least two or more continuous financial years.
- Over three lakh directors were also disqualified for not filing the annual returns and their financial statements.
17th Foreign Office Consultations Between India & Myanmar Held In New Delhi
- The 17th round of foreign office consultation between India and Myanmar was held in New Delhi.
- Foreign Secretary Vijay Gokhale led the Indian delegates, while U Myint Thu, the permanent secretary in ministry of Foreign Affairs, led the Myanmar delegates.
- Both sides reviewed the details of bilateral relations and talks were held on high level visits, defence and security related issues, boundary issues, border management, trade and commerce, and development connection, cooperation, and cultural and consular matters among others