Indian, US, Japanese maritime forces begin Malabar exercise
• Naval ships, aircraft and personnel from India, Japan and the US have begun exercise Malabar 2018.
• They will practice surface and anti-submarine warfare operations and combined carrier strike group operations off the Coast of Guam Island in the western Pacific during the exercise.
• The June 7-16, 2018 wargame is being held amid increased Chinese activities of building artificial islands in the South China Sea and sending submarines into the Indian Ocean.
Short-term subsidised crop loan to be implemented through direct benefit transfer mode: RBI
• The RBI announced that interest subsidy scheme on short-term crop loans of up to Rs 3 lakh will be implemented through the Direct Benefit Transfer Mode from the current financial year.
• The Centre has earmarked Rs 15000 crore for 2018-19 towards interest subvention for short-term crop loans.
• As per the scheme, farmers can avail of short-term crop loans of up to Rs 3 lakh at subsidised interest rate of 7 percent that could go down to 4 percent on prompt repayment.
Revised Guidelines for Maulana Abul Kalam Azad Trophy
• Minister of Youth Affairs & Sports Rajyavardhan Rathore approved the revised guidelines for Maulana Abul Kalam Azad (MAKA) Trophy.
• Under the revised guidelines, the applications from the universities, which were hitherto used to be invited and scrutiniSed by the Association of Indian Universities (AIU), will now be invited by the Ministry of Youth Affairs & Sports or Sports Authority of India.
• Criteria for calculation of marks for selection of universities for MAKA Trophy have been revised. Tournaments which are held more than once a year will not be considered for computation of marks.
Air India seeks Rs 1000 crore bank loan to meet its urgent working capital requirement
• National Carrier Air India sought proposals for short-term loans worth one thousand crore rupees to meet its urgent working capital requirements.
• The loan will be drawn in June in one or more tranches. The airline has requested banks to submit their financial bids by 13th of this month.
• The tenure of the loan will be one year (renewable) from the date of availing short-term loans.
Government Task Force on shell companies removed the names of over 2 lakh 26 thousand firms
• Government Task Force on shell companies have identified and removed the names of over 2 lakh 26 thousand firms from the register of companies in the Financial Year 2017-18.
• These companies have not filed their annual returns for a continuous period of two or more financial years.
• Over three lakh directors were also disqualified for non-filing of Financial Statements or Annual Returns.
17th round of Foreign Office Consultations between India & Myanmar hold in New Delhi
• The 17th round of Foreign Office Consultations between India and Myanmar were held in New Delhi.
• The Indian side was led by Foreign Secretary Vijay Gokhale and the Myanmar side by Permanent Secretary in Ministry of Foreign Affairs, U Myint Thu.
• The two sides reviewed the entire gamut of bilateral relations. They held talks on high-level visits, security and defence related issues, boundary matters and border management, trade and commerce, development cooperation, connectivity, cultural and consular matters.