Important Current Affairs 8th May 2018

Important Current Affairs 8th May 2018

Current Affairs 8th May 2018: NATIONAL  NEWS

CIM addresses First Inter-Ministerial meeting on Sectoral Export Promotion Strategy
●    Minister of Commerce & Industry and Civil Aviation Minister, Suresh Prabhu, today addressed secretaries and senior officers in the first inter-ministerial meeting on Sectoral Export Promotion Strategy. 
●    The meeting was attended by Secretaries to Government of India from Department of Commerce, DIPP, Electronics and IT, Animal Husbandry and Dairying and MSME.

Exhibition to commemorate the birth anniversary of Rabindranath Tagore, inaugurated at NGMA, New Delhi
●    Exhibition titled ‘Gurudev: The Journey of the Maestro’, to commemorate the birth anniversary of Rabindranath Tagore was inaugurated at The National Gallery of Modern Art (NGMA), New Delhi, Ministry of Culture, Government of India, yesterday, the 7th May 2018.  
●    The exhibition was inaugurated by H.E. Mr. Daniel Chuburu, Ambassador of the Embassy of the Argentine Republic to India.

TRIFED goes digital for Inventory Management and Sales
●    Tribal Cooperative Marketing Development Federation (TRIFED) of Ministry of Tribal Affairs has operationalised Retail Inventory Software (RIS) in all its Tribes India Outlets, Regional Offices and Head Office for inventory control. 
●    The electronic mode of system has been made available at all Regional Offices and Outlets, streamlining the entire retail operations from purchases upto sales by automating the transaction process and tracking important purchase, stocks and sales data. 

Committee for change in the rules of Rajya Sabha

●    Rajya Sabha Speaker M. Venkaiah Naidu has constituted a two-member committee to make changes in the rules and procedures of the House on 07 May 2018 and specifically for the suspension of member who deliberately hindered the proceedings of the House.
●    It has been decided to change the rules and procedures for the purpose of running the work of the Upper House better.
●    This committee will give its recommendations by talking to MPs and experts and studying the rules of the Houses of different countries.

Walmart to sell out full stake in Flipkart, Sachin Bansal
●    Flipkart will sell Walmart to its entire 5.5% stake in Co-Founder Company.
●    Sachin has decided to completely leave Flipkart.
●    Wal-Mart is investing $ 2 billion with $ 2 billion investment in India's largest e-commerce company for 60 percent of its current stake in the company for about $ 14 billion.
●    Flipkart has 20.8 percent of Softbank, 6.1 percent for eBay and 5.55 percent for Sachin Bansal.

Current Affairs 8th May 2018: INTERNATIONAL RELATION

India and Guatemala agree to support each other for Non-permanent membership of UNSC
●    Agreeing to push the ‘complementary’ and ‘not competitive’ nature of bilateral relations to a new level for mutual benefit from the emerging opportunities in both the countries, India and Guatemala today agreed to support each other’s candidature for Non-Permanent Membership in the United Nations Security Council.
●    Guatemala will support India’s candidature for UNSC membership for 2021-22 while New Delhi will do so for 2031-32 for Guatemala.

CBDT clears amendments to India and Kuwait tax agreement
●    The Central Board of Direct Taxes (CBDT) has notified the modified Double Taxation Rescue Treaty (DTAA) between India and Kuwait on 07 May 2018.
●     According to the CBDT, protocol was signed to amend the existing agreement between India and Kuwait to avoid double taxation in June 2006.
●    This protocol was implemented by the CBDT on March 26, 2018, and has been duly notified in the Official Gazette.

Current Affairs 8th May 2018: ECONOMY

India signed a $ 200 million loan letter with the World Bank for National Nutrition Campaign
●    India signed a $ 200 million loan letter with the World Bank on 08 May 2018 for the National Nutrition Campaign.
●    This fund will help reduce the dwarfism in the age group of 0-6 years by helping the Indian government reduce the 38.4 percent to 20 percent by 2022.

Paytm will spend Rs 5000 crore in financial services business

●    The mobile payment service company Paytm Growth is betting big on financial services.
●    The company will invest Rs 5,000 crore in its core business this year.
●    Now there are 1 billion transactions in the three months through PetiM, which has been targeted to increase to 2 billion by the end of this year. PettyM will bring new products in the Financial Services Segment.

The country's favorite digital platform making the Paytm
●    Paytm has emerged as the country's favorite digital platform in April. 
●    In the last month, there were a total of 19 crore Unified Payments Interface (UPI) based transactions in the country, out of which one third was through Paytm.
●    A banker said on condition of anonymity that in April, the highest number of e-commerce and digital payments company, Paytam, was 6.29 million in UPA transactions.

Income Tax Department's raid on crude converting workers, black money worth Rs 100 crore was detected

●    The Income Tax Department raided some big business houses in the National Capital Region, which had arranged pandals and food in which the black money and undeclared income of Rs. 100 crore was detected.
●    Giving this information, the officials said that since 3 May, the search and investigations were done on 43 premises of three major pandals and catering operators.
●    So far they have seized cash worth Rs 1.82 crore and jewelry worth Rs 2.4 crore were seized.

Vijay Mallya loses Rs.10,000 crores in UK
●    Indian businessman Vijay Mallya, who ran from the country by taking loan from banks, was hit by a UK court.
●    He lost a $ 1.55 billion or Rs 10,000-crore suit filed by Indian banks in the UK.
●    A group of 13 banks of India had filed a case here for recovery of over $ 1.55 billion from Mallya.

Current Affairs 8th May 2018: DEFENSE

Raksha Mantri Addresses Naval Commanders’ at New Delhi
●    Raksha Mantri Smt Nirmala Sitharaman inaugurated the first edition of the bi-annual Naval Commanders’ Conference today. 
●    Addressing Senior Leadership of the Navy, the Raksha Mantri commended the men and women of Indian Navy for their professionalism and dedication in performing the duties of safeguarding the maritime interest of the nation.

Special cadre will be made for permanent commission of women in the army

●    The construction of a special cadre for women in the army is being finalized to give them permanent commission in many areas.
●    Leaving the fighter role, women will be given permanent commission in the remaining roles.
●    The information released by the Army said that it is being considered that permanent commissions to women in various areas, including various posts in cyber and information technology, military police corps and service selection board, are being considered.

Current Affairs 8th May 2018: GLOBAL NEWS

15th Asia Media Summit to be hosted by India from May 10-12, 2018 in New Delhi
●    The 15th Asia Media Summit (AMS) 2018 is being hosted by the Ministry of Information and Broadcasting, Government of India, jointly with the Indian Institute of Mass Communication (IIMC), New Delhi and Broadcast Engineering Consultants India Limited (BECIL), from 10th-12th May, 2018 in New Delhi.  
●    Union Minister for Information & Broadcasting and Textiles, Smt. Smriti Zubin Irani would be presiding as the Chief Guest over the Inaugural ceremony of the Summit on 10th May.

Microsoft will spend 2.5 million dollars for disabled people
●    Software company Microsoft has announced to spend 25 million dollars to develop artificial understanding based solutions for the disabled in the 'Understanding for Accessibility' program.
●    Microsoft said in a blog post that under this five-year program developers will have access to artificial understanding tools.
●    So that they can speed up the development of easy solutions for the winners who benefit them.