Weekly Current Affairs News: May 7-13th, 2018

Before getting into details, we recommend that you read our previous current affairs blog where we summarized all the latest news that made headlines during the week of Apr 30th – 6th May. That way you are ready for this week’s updates



Moving on, welcome to the ‘Weekly Current Affairs news’ from HashLearn. In this article, all the IBPS, SSC and CLAT students can get acquainted with the top events that made headlines during the week of 7th – 13th May and prepare for their respective ‘General Awareness’ section. Read on as we will be covering all the important Bank related, International, National, Business and Sports news. 


Important News from Banking Sector


RBI puts Dena Bank under corrective action

Reserve Bank of India (RBI) has put public state lender Dena Bank under prompt corrective action (PCA) framework. It has barred Dena Bank from extending fresh credit in view of deteriorating financial health due to mounting non-performing assets (NPAs) and mounting losses. This marks Dena Bank as the first lender to face curbs on lending under PCA framework.


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YES Bank to launch water-security programme

YES Bank along with farmers in Haryana and Rajasthan is all set to roll out a capacity building project under its ‘Livelihood and Water Security’ CSR initiative. The overall focus of the programme would be on sustainable agricultural practices and digital literacy. The programme would be rolled out initially across 15 districts (eight districts in Haryana and seven in Rajasthan).


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Listed firms to split CMD post: SEBI

Listed companies have been asked by the Securities and Exchange Board of India (SEBI) to split the post of Chairman and Managing Director by April 2020. SEBI has also made it compulsory for them to have six independent directors on board, including a women director. The changes were first recommended by Kotak Bank chief Uday Kotak-led committee on corporate governance in 2017. They have now been accepted and notified by SEBI.


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Important Current Affairs News


International News


Vladimir Putin confirmed as Russian President for another 6 yrs

Vladimir Putin will be sworn in for the 4th term as the president of Russia after 70 percent of voters backed him in an election in which he had no serious challengers. Most noted opponent Alexei Navalny was barred from standing against Putin, on grounds of a conviction for embezzlement


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NASA and Uber team for flying taxis

NASA and Uber have signed an agreement to explore building flying taxis in the skies over US cities. NASA will begin simulations for the urban air mobility vehicles which also includes delivery drones. The primary goal as stated by NASA is to create a rideshare network that will allow residents to hail a small aircraft the same way Uber users can now use an app to call a car.


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Russian Prime Minister: Dmitry Medvedev 

The lower house of Russian parliament state Duma has given its mandate to Dmitry Medvedev for a new term as the Prime Minister. Mr Dmitry’s candidature was proposed by the Russian President Vladimir Putin after the inauguration of his fourth term as Russia’s President. 


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Malaysia’s Prime Minister: Mahathir Mohamad

92 year old, Mahathir becomes the oldest PM in the world. Mahathir’s coalition defeated the governing Barisan Nasional coalition, led by PM Najib Razak, which has been in power for more than 60 yrs. The victory capped a dramatic comeback for Mahathir, who ruled the country for 22 yrs.


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National News


India hosts the 15th Asia Media Summit

The Ministry of Information and Broadcasting, Government of India will be hosting The 15th Asia Media Summit (AMS) 2018 from 10th – 12th May 2018 in New Delhi. The AMS 2018, an annual summit of the Asia-Pacific Institute for Broadcasting Development (AIBD) Kuala Lumpur, is a prestigious summit in the Asia Pacific Region. The theme of the summit is “Telling Our Stories – Asia and More”.


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ISRO develops an Atomic Clock

Indian Space Research Organisation (ISRO) develops an atomic clock that will be used in navigation satellites to measure precise location data. The space agency currently imports atomic clocks from European aerospace manufacturer Astrium for its navigation satellites. The atomic clock is currently undergoing a series of qualification tests


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India will soon begin forecasting Tsunami

A prediction that can greatly reduce the loss of life and property, India would now be able to foretell the distance a destructive sea wave would travel after it breaches the coast. This model was developed by the Indian National Centre for Ocean Information Services to predict how far sea water would travel. This would be a Level-3 alert under India’s Tsunami Early Warning System


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Top 10 most powerful people, Modi one among them

According to Forbes, Prime minister Modi is 9th among the top 10 most powerful people in the world. For the first time ever Chinese President Xi Jinping came first defeating Russian President Vladimir Putin as the most influential person on the planet. Prime minister Modi’s international efforts to tackle climate change was one of the prime reasons he emerged as a key figure 


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India ranks 4th on Asia-Pacific Power Index

Out of 25 nations in the Asia-Pacific region on the Lowy Institute Asia Power Index that measures power across 25 countries, India has been ranked fourth. India has been titled as the ‘Giant of the future’ while Japan is being branded as the ‘Smart power’. The parameter used to consider is economic resources, military capability, diplomatic influence and fifth on resilience.


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India’s longest rail bridge on Brahmaputra

Bogibeel bridge, India’s longest rail-cum-road bridge on the Brahmaputra connecting Dibrugarh to Dehamji is expected to be open for public by October 2018. The bridge will boost defence logistics along the China border and reduce travel time for rail passengers and road users. The bridge will make Itanagar in Arunachal Pradesh easily accessible from Dibrugarh.


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E-vehicles now get a Green license

As a part of promoting electric vehicles in India, the government of India has approved green licence plates bearing numbers with white fonts for private e-vehicles & yellow for taxis. The primary purpose behind this distinctive number plates is for their easy identification. E-vehicles are expected to get preferential treatment in parking along with other benefits like a concessional toll. 


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World’s second oldest rock is from Odisha

A rock sample was recovered nearly eight years ago from Champua in Odisha’s Kendujhar district. Scientists have found in the rock a grain of magmatic zircon (a mineral that contains traces of radioactive isotopes). It is an estimated to be around 4,240 million years old — a discovery of great promise to study the earth’s early years.


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Nirmal Singh elected as the new JK Assembly speaker

Former Deputy Chief Minister and a BJP legislator, Nirmal Singh have been elected as the Speaker of the Jammu and Kashmir Legislative Assembly. Singh defeated Congress MLA from Bandipora, Usman Majeed. Nirmal Singh is an MLA from Billawar constituency in Jammu region and was elected as the Speaker by a voice vote in a one-day special session of the J&K Assembly.


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Business News


Walmart acquires 77% stake in Flipkart

Walmart pays $16 billion for about 77% stake in Flipkart. This transaction has been recorded as the biggest ever acquisition in India by a foreign firm surpassing the about $13 billion Vodafone spent in 2007 for buying Hutchison’s Indian business. The Walmart entered India in a joint venture with the Bharti Group in 2007 & started cash-and-carry stores named ‘BestPrice Modern Wholesale’ in 2009.


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Fino Payments Bank offers net banking

Fino had launched its mobile banking app BPay in 2017 and now the bank has launched a suite of digital products that can be accessed online and through mobile phones. The latest initiatives include Unified Payments Interface (UPI), BHIM app- using which customers can access UPI and make P2P payments.


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Sports News


Rafael Nadal breaks a 34-year-old record

Spanish world number one Rafael Nadal broke a 34-year-old record by winning his 50th straight set on clay, the most consecutive sets won by a player on a surface. Nadal eased past Argentine Diego Schwartzman 6-3 6-4 in the round of 16 of Madrid Open to storm into the quarter-final round and broke John McEnroe’s long-standing record in Open Era.


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Aditi Ashok ace Indian golfer finishes tied at 6th, second successive top-10 

Indian golfer Aditi Ashok rises with her second successive top-10 finish with a Tied-sixth finish at the Volunteers of America LPGA Texas Classic. This was Aditi’s second top-10 in a row after her Tied-seventh at LPGA Mediheal last week. Aditi is the youngest and first Indian to win the Lalla Aicha Tour School.


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Abu Dhabi Open squash title goes to Ramit Tandon

Ramit Tandon toppled number one seed Omar Abdel Meguid of Egypt to win the Abu Dhabi open squash title. This is Ramit’s third title on Professional Squash Association (PSA) tour. In world rankings, he holds the 65th position, while the Egyptian is placed higher at the 41st spot.


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These were some of the most recent news in the past week. Stay tuned with HashLearn for more weekly current affairs updates.


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