Current Affairs 07th & 8th July

Today’s Current Affairs 7th & 8th – July- 2018 – MyProgressCard

Important Days

  1. International Day of Cooperatives: 7th July
  • The International Cooperatives Day was observed throughout  the world every year on 7th July to promote the co-operative model.
  • This day was celebrated on July 1923 for the first time by the international cooperative movement and the International Co-operative Alliance.
  • The theme -“sustainable consumption and production of goods and services”. The Slogan: “Sustainable societies through cooperation”.

The International Cooperatives Day

Image Credit: copac

  • This day is formulated by “International Labour Organization (ILO)”

 Static/Current implications:

  • Headquarters ILO – Geneva, Switzerland
  • Director General – Guy Ryder


2. Kumaoni folk singer Kabutari Devi dies

  • Popular Kumaoni folk singer Kabutari Devi died following a heart attack, at a hospital in Uttarakhand.
  • Kabutari Devi was 70 years old. Her songs expressed the struggles in the life of Pahari women.

Kumaoni folk singer Kabutari Devi dies

Image Credit: EENADU India

  • She made her first performance at All India Radio, Lucknow in the 1980s. She has received various awards including from the Ministry of Culture, Government of Uttarakhand.

Static/Current implications:

  • Capital of Uttarakhand – Dehradun
  • CM of Uttarakhand – Trivendra Singh Rawat
  • Uttarakhand governor – Krishna Kant Paul

3. Senior Congress leader Jacob passes away

  • Senior Congress leader and former Meghalaya Governor MM Jacob passed away in  Kottayam, Kerala.
  • He served as deputy chairman of the Rajya Sabha and also worked with Kerala Pradesh Congress Committee.     

Senior Congress leader Jacob passes away

Image Credit: Times Now

  • He was an elected member of AICC (All India Congress Committee) and also served as chairman of Kerala State Seva Dal Board.

National News

4. Mukesh Ambani elected as Chairman of Reliance Industries Ltd. for a tenure of 5 years

  • Shareholders of Reliance Industries have approved giving Mukesh Ambani another five years as the Chairman and Managing Director of the company.
  • As many as 50,818 crore (98.5 %) shares out of a total share base of 616.45 crore voted on the resolution of his appointment taken during the 41st annual general meeting held on July 5,2018 in Mumbai.
  • Mukesh Ambani ,61, has been on the board of Reliance Industries Ltd (RIL) since 1977.
  • He was nominated the Chairman of the company after the death of Dhirubhai Ambani in 2002.

Mukesh Ambani elected as Chairman of Reliance Industries

Image Credit: DNA India

  • He will be given an annual salary of Rs. 4.17 crore and Rs.59 lakhs of perquisites and allowances.

Static/Current implications:

  • Headquarters: Mumbai

5. MoEFCC declared the area around Mudumalai as an ESZ

  • The  Mudumalai Tiger Reserve in the Nilgiris as an eco-sensitive zone (ESZ) by the Ministry of Environment, Forests and Climate Change (MoEFCC).  
  • This step has been taken in order  to prohibit construction and commercial mining activities and restrict hotels and resorts near the reserve.
  • The reserve was declared a tiger habitat in 2007.

Static/Current implications:

  • Mudumalai  National Park is located in TamilNadu
  • Capital of TamilNadu- Chennai
  • CM of TamilNadu – Edappadi K Palaniswami
  • Governor- Banwarilal Purohit

6. Subsidy on rooftop solar power installations

  • Himachal Pradesh government has announced a subsidy of 10% or Rs. 4,000 per Kilowatt, whichever is less, for installation of solar power plants at the rooftop of their buildings.
  • This subsidy would be additional to the subsidy given by Central government.

Subsidy on rooftop solar power installation

Image Credit: The Indian Express

  • The subsidy amount would be deposited directly to the bank account of the consumer through Himachal Pradesh Energy Development Authority.

Static/Current implications:

  • Capital of Himachal Pradesh – Shimla, CM- Jai Ram Thakur, Governor- Acharya Dev Vrat

7. Muthoot Pappachan Group appoints Vidya Balan as its brand ambassador

  • Vidya Balan has been appointed the brand ambassador for 2 years. The Muthoot Pappachan group will launch a new ad campaign, including TV commercials.
  • A senior official of the Group said that, Rs 50 crore has been allotted for marketing campaign for this fiscal.

Muthoot Pappachan Group appoints Vidya Balan as its brand ambassador

Image Credit:

  • Muthoot Pappachan Group is mainly involved in the financial services business. It is into two-wheeler finance, micro-finance, affordable housing finance, health, life and general insurance, precious metals, automotive, realty, hospitality and IT businesses, etc.

Static/Current implications:

  • CMD of Muthoot Pappachan Group – Thomas John Muthoot
  • Registered Office – Trivandrum, Kerala

Sports News

8. Dipa wins gold in Gymnastics World Cup

  • Dipa Karmakar the first Indian female gymnast ever to compete in the Olympics 2016, scored 14.150 to win gold in the Gymnastics World Cup.

Dipa wins gold in Gymnastics World Cup

Image Credit:

  • She scored 13.400 and stood as the topper

Static/Current implications:

  • Venue of Gymnastics World Cup- Mersin, Turkey
  • Capital of  Turkey – Ankara
  • Currency- Turkish lira

Awards & Honours

9. T.K Chand gets knowledge excellence award

  • Dr. Tapan Kumar Chand received Knowledge Excellence Award from Secretary, Mines, Government of India for Outstanding Contribution in Aluminium Knowledge domain at the 22nd International Conference on Non-Ferrous Minerals and Metals 2018 at Ranchi, Jharkhand.
  • He is the CMD NALCO. It is the largest integrated aluminium unit in Asia and is also one of the largest aluminium complexes of the world.

T.K Chand gets knowledge excellence award

Image Credit: The Newsman of India

  • He has been in the mining and metal sector since 1982 and focused on the role of non-ferrous metals in economy.

Static/Current implications:

  • NALCO – National Aluminium Company Limited
  • Headquarters of NALCO-   ‎Bhubaneswar, Odisha
  • Capital of Jharkhand- Ranchi, CM – Raghubar Das, Governor- Draupadi Murmu

Banking News

10. PSU banks plan to raise over Rs.50,000 crores

  • In order to shore up their capital base for business growth and meeting regulatory global risk norm, PSBs are planning to raise their capital through the equity market.
  • 13 banks have already taken the approval of their boards or shareholders out of 21 public sector banks.  

PSU banks plan to raise over Rs.50,000 crores

Image Credit: Deccan Chronicle

  • Among the banks which already got approval, Central Bank of India, plans for raising ₹8,000 crore equity capital and Canara Bank  proposes to raise up to ₹7,000 crore.

11. HDFC Bank – most valuable bank in the emerging market outside China

  • HDFC Bank has topped the list of the world’s 500 most valuable companies.
  • It is followed by Housing Development Finance Corporation (HDFC), Kotak Mahindra Bank and State Bank of India.
  • HDFC Bank surpassed Russia’s Sberbank with a market capitalisation of $78.4 billion.
  • Industrial & Commercial Bank of China topping the list with a market cap of $273.4 billion, followed by China Construction Bank ($225.1 billion).

HDFC Bank - most valuable bank in the emerging market outside China

Image Credit:

  • 11 Indian companies are listed among the world’s 500 biggest firms in terms of market capital. Tata Consultancy Services (TCS) tops the chart with a market cap of $103 billion, followed by Reliance Industries.

Static/Current implications:

  • Headquarters of HDFC Bank –  Mumbai, Managing Director- Aditya Puri

International News

12. Mark Zuckerberg becomes the 3rd richest person in the world

  • According to Bloomberg, Facebook’s 34-year-old CEO Mark Zuckerberg became the World’s third-richest person with $81.6 billion wealth.
  • Amazon’s Jeff Bezos remains the world’s richest, while Microsoft’s Bill Gates second-richest. Previously, the world’s third-richest person was Berkshire Hathaway CEO Warren Buffett.

Mark Zuckerberg becomes the 3rd richest person in the world

Image Credit: Newstodaynow

  • It’s the first time that the three wealthiest people on the ranking made their fortunes from technology.
Share This

Add a Comment

Your email address will not be published. Required fields are marked *