GK Updates - 4 June | Banking Quiz

India became the second largest exporter of textiles in the world: UN Comtrade

India became the second largest exporter of textiles in the world. This was revealed by the recent data released by UN Comtrade in Global Textiles as well as Apparel Exports.

Global Textile Exports

In Global Textiles Exports, India overtook Italy to become the second largest exporter. China still remains the largest exporter of textiles in the world.

India’s share in Global Textiles increased by 17.5% in the year 2013 compared to 2012. As a result India's share in the global textile exports in 2013 is 5.2%

Currently India’s textiles exports to the world stand at 40.2 billion US dollars.

Indian textile exports grew by 23%. This is in contrast to global textile growth rate of only 4.7%, and China and Bangladesh growth rate of 11.4% and 15.4% respectively

Amla appointed as test cricket captain of South Africa

I.Hashim Amla was appointed as new test captain of South African cricket team on 3 June 2014. Amla is the successor of Graeme Smith who retired in March 2014 after serving the test side of South African cricket for more than a decade.

II.AB de Villers, the captain of the ODI squad and seemed to be the front runner for the job was appointed as the vice-captain of the Test squad. However, Amla will be his deputy in the ODI squad.

III.After being named as the Captain of the test cricket, 31-year-old Amla of Indian-origin became the first black South African to lead the national side. He is also the fifth permanent Test captain of Proteas (nickname of South African cricket team), since they were readmitted to international cricket in 1992 after Kepler Wessels, Hansie Cronje, Shaun Pollock and Smith – who announced his international retirement in March. Earlier during the apartheid era, the South-African cricket team included only white people.

Global Day of Parents observed on 1 June

The Global Day of Parents was observed across the world on 1 June 2014. The Global Day provides an opportunity to appreciate all parents across the world for their selfless commitment to children and their lifelong sacrifice to nurture the relationship.

About Global Day of Parents

Global Day of Parents is being observed every year following proclamation by UN General Assembly proclaimed in 2012 with resolution adopted on 17 September 2012 to honour parents throughout the world.

Jammu and Kashmir raised retirement age of employee to 60

I.Jammu and Kashmir government on 3 June 2014 announced the enhancement of the retirement age of government employees from 58 to 60 years. The cabinet also raised the upper age limit for youths to obtain government jobs from 37 to 40 years.

II.It also announced several other employee-friendly measures and pledged itself to redress their grievances. Besides, it also decided to absorb all temporary casual labourers and need-based workers who have completed 7-year of service into regular government services. The decision will benefit more than 60000 employees in Jammu and Kashmir.

Obama proposed 1 billion dollar US Security Plan for Eastern Europe

I.The US President Barack Obama on 3 June 2014 proposed a 1 billion US dollar (about 730 million Euros) US security plan for Eastern Europe to finance extra US troop and military deployments to new allies in Eastern Europe.

II.This announcement was made during Obama’s visit to Poland to attend the 25th anniversary of Poland’s first free elections.

Reason for this security plan

The security plan came in the backdrop of concerns and fears of West over the Ukraine crisis and the escalating pro-Russian uprising in ex-Soviet Union.

Union Rural Development Minister Gopitnath Munde died

Union Rural Development Minister, Gopinath Munde died in a road accident in Delhi on 3 June 2014. Munde was sworn-in as the Cabinet Minister for Panchayati Raj, Drinking Water and Sanitation and Rural Development on 26 May 2014.

About Gopinath Munde

Munde was born in Parali of Beed district on 12 December 1949.

He was a Member of Legislative Assembly (MLA) for five terms from 1980 to 1985 and then from 1990 to 2009.

He was the Leader of the Opposition in Maharashtra Legislative Assembly from 1992 to 1995 and held the post of Deputy Chief Minister of Maharashtra from 1995 to 1999.

He won the Lok Sabha election from Beed constituency for the first time in 2009 and served as Deputy Leader of Opposition in 15th Lok Sabha (2009-2014).

Kavery Banerjee appointed as Secretary, Department of Posts

I.The Appointments Committee of the Cabinet (ACC) on 31 May 2014 approved the appointment of Kavery Banerjee as Secretary, Department of Posts.

II.Besides this, Banerjee, an IPoS (Indian Postal Service) of 1978 batch, was also appointed as Chairperson of Postal Services Board and Director General of Postal Services. Before this appointment, Banerjee was serving Postal Services Board as Member (Technology).

III.Banerjee was appointed after P Gopinath, an IPoS of 1977 batch retired from the office on 31 May 2014. Gopinath was elevated to the post of Secretary from the position of Member (Technology) of Postal Services Board.

India became 2nd largest textiles exporter after China: UN Comtrade

I.India became the 2nd largest exporter of global textiles after China. This was revealed by a recent data released by the UN Comtrade.

II.The apparel exports ranking also improved from 8th position in 2012 to 6th position in 2013.

Global textile Export

I.In Global Textiles Exports, India now stands at second position beating its competitors like Italy, Germany and Bangladesh, with China still retaining its top position.

II.Currently India’s textiles exports to the world stand at 40.2 billion US dollar. Total global textiles exports stands at 772 billion US dollar with India commanding 5.2% of the share.

RBI announced second Bi-Monthly Monetary Policy Statement

The Reserve Bank of India (RBI) announced second Bi-Monthly Monetary Policy Statement on 3 June 2014. RBI in its second bi-monthly monetary policy statement has kept the policy rates unchanged.

Based on the assessment of the current and evolving macroeconomic situation the following changes has been taken

• The repo rate under the liquidity adjustment facility (LAF) unchanged at 8.0 percent.

• The cash reserve ratio (CRR) of scheduled banks unchanged at 4.0 percent of net demand and time liabilities (NDTL).

• Reduced the statutory liquidity ratio (SLR) of scheduled commercial banks by 50 basis points from 23.0 percent to 22.5 percent of their NDTL with effect from 14 June 2014

• Introduce a special term repo facility of 0.25 percent of NDTL to compensate fully for the reduction in access to liquidity under the ECR with immediate effect.

• The policy is continued to provide liquidity under 7-day and 14-day term repos of up to 0.75 percent of NDTL of the banking system.

• The reverse repo rate under the LAF remained unchanged at 7.0 percent and the marginal standing facility (MSF) rate and the Bank Rate at 9.0 percent.

UP government ordered establishment of women helpline in each district of State

I.Akhilesh Yadav, the Chief Minister of Uttar Pradesh on 3 May 2014 ordered setting up of women helpline in 75 districts of the state. As per the directive, the helpline of each district will be monitored and maintained by the SSP and SP of the district.

II.As per the directive, prompt and immediate actions will be taken by the women cell on any complaint lodged by victims or their families. Apart from this, the state government also said that the cases of rape cases will be referred to fast track courts to ensure speedy justice.

III.In his order, the Chief Minister also ordered the District Magistrates and Senior Police Officers to impose stringent National Security Act on those who threatened a rape-victim or her family. Strict actions will be taken in case the officials fail to attend the acts of crime swiftly.

Palestinian Unity Government of Hamas and Fatah sworn-in by President Mahmoud Abbas

I.The Palestinian National Unity Government of Hamas and Fatah was sworn-in on 2 June 2014 by the Palestinian Authority President, Mahmoud Abbas in West Bank City of Ramallah. With the formation of new government, the Hamas government in Gaza strip resigned.

II.The Unity Government will be headed by incumbent Palestinian Prime Minister Rami Hamadallah and is composed of 17 independent ministers. The Unity Government comprises of professionals and does not have members of neither Fatah and Hamas. Three of them are women and half of them have served in last Palestinian Authority government.