12th June Current Affairs 2019

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12th June Current Affairs 2019

Daily GK Updates & Current Affairs for Government Exams

International Day Against Child Labour observed on June 12

12 June 2019 Current Affairs: International Labour Organization (ILO) started to celebrate World Day Against Child Labour in 2002

Aim: To focus attention on the global extent of child labour and the action and efforts needed to eliminate it. The 2019 theme is Children shouldn’t work in fields, but on dreams!

The day brings government employers and workers organizations, civil society, as well as millions of people from around the world to highlight the plight of child labourers.

Cabinet approved the setting up of Defence Space Research Agency (DSRO)

12 June 2019 Current Affairs: The Cabinet Committee on Security headed by Prime Minister Narendra Modi has approved the setting up of Defence Space Research Agency (DSRO), a new agency, which will develop sophisticated weapon systems. The approval aimed to To enhance the capabilities of the armed forces to fight wars in space.

GST council to introduce new GST return system

12 June 2019 Current Affairs: GST Council decided to introduce a new GST return system to facilitate taxpayers.

The new plan is worked out to ease the transition to the new return system.

A prototype of the offline tool has already been shared on the common portal to give the look and feel of the tool to the users. The tool is the same as that of the online portal. There are three main components to the new return

one main return (FORM GST RET-1) and two annexures (FORM GST ANX-1 and FORM GST ANX-2). The new return system (ANX-1 & ANX-2 only) will be available for trial for taxpayers to make themselves familiar.

RBI to infuse Rs.15,000 crore into financial system through the purchase of government bonds

12 June 2019 Current Affairs: The Reserve Bank of India is to infuse Rs.15,000 crore into the financial system through bond purchases on June 13.

Why the infusion: RBI made the decision after assessing of prevailing liquidity conditions and also of the durable liquidity needs that are going forward.

RBI uses Open Market Operations (OMO) for injecting liquidity into the system through the purchase of government bonds (G-sec). Therefore, RBI is to conduct the purchase of  six G-sec under OMOs through multi-security auction using multiple price method.

Amazon clinches top spot in the world’s most valuable brand ranking

12 June 2019 Current Affairs: Amazon clinched the world’s most valuable brand in cloud computing, consumer tech and movie production.

It is founded by the world’s richest man Jeff Bezos.

According to the 2019 BrandZ Top 100 Most Valuable Global Brands rankings, Amazon online retailer set its brand value quintuple in the past five years to reach $315.5billion. It is undertaken annually by advertising holding company WPP.

The detailed study of Brand Z reveals firms financial data and draws on an extensive consumer survey to reach its conclusions. Amazon expanded into grocery, healthcare, food delivery and, with its Alexa devices, even voice recognition. Amazon jumped from third to first place to eclipse Google.The brand of Amazon from 52 percent to $315 billion.

The company jumped from third place to first place and got the third position to topmost by replacing Google. 

BJP MP Virendra Kumar to be pro-tem speaker of Lok Sabha

Virendra Kumar, a seven-time MP from Tikamgarh in Madhya Pradesh chosen as the pro tem speaker of the 17th Lok Sabha. He was MoS in the ministry of women and child development He was also in the minority affairs ministry in the previous government. He is likely to be administered the oath of office at the Rashtrapati Bhavan on June 17, the day where newly elected Lok Sabha commences its first session.

Bihar approved the proposal to punish children who abandon their elderly parents

The Bihar State Cabinet chaired by Chief Minister Nitish Kumar has approved the proposal to punish sons and daughters, who abandon their elderly parents, with jail term. The approval was announced on 11 June.  The proposal was moved by the state’s social welfare department. Such cases will be registered under the non-bailable section after receiving complaints from elderly parents

Mela Kheer Bhawani festival was celebrated in Jammu & Kashmir

Mela Kheer Bhawani festival was celebrated in Jammu & Kashmir on Zeasht Ashtami. In 2019, the day fell on June 10. The devotees prayed at the famous Ragnya Devi temple in Ganderbal district, J&K. Zyestha Ashtami is celebrated by Kashmiri Pandits across the country and outside as the day marks commencing of annual pilgrimage. Mela Kheer Bhawani: Kheer Bhawani is a temple that is dedicated to the Goddess Kheer Bhavani constructed over a sacred spring.

Max Life Insurance Company launched ‘My Protection Quotient’ Tool

12 June 2019 Current Affairs: Max Life Insurance company one of the famous insurance companies in India announced the launch of a unique proprietary tool, ‘My Protection Quotient’ (MyPQ) its commitment to ensuring financial protection in the country.

MyPQ a smart tool designed to gauge the level of an individual’s financial protection and their main aim to promote awareness and importance of term plans in protecting the financial future of families.

This tool will help consumers gauge their preparedness for their life stage goals and protection against unplanned eventualities of life.

Max Life insurance to drive the agenda of financial protection in India. The program’My Protection Quotient encourages all Indians to engage with protection need more closely.

Tokayev sworn in as the President of Kazakhstan

Kassym-Jomart Tokayev has sworn in as the President of Kazakhstan. He was the interim president and hand-picked successor of Nursultan Nazarbayev. He won the election, which was held on 9 June, with 70.96% of the vote which was contested against six government-approved candidates.  Tokayev presidency aims to continue Nazarbayev’s policies aimed at improving the well-being of the people.