Top 5 Current Affairs: 12 July 2018
India has formally become the 69th shareholder of the European Bank for Reconstruction and Development (EBRD), paving the way for more joint investment with Indian companies across the bank's regions of operation.
India has surpassed France to become the world’s 6th largest economy, as per World Bank data on the gross domestic product (GDP) of countries for 2017.
The data revealed that India recorded a GDP of USD 2,597,491 million in 2017, while France recorded a GDP of USD 2,582,501. India is now placed just below the United, which recorded a GDP of USD 2,622,434 million in the same period.
The United States leads the table recording a GDP of USD 19,390,604 million, followed by China with USD 12,237,700 million and then Japan with USD 4,872,136.95 and Germany with USD 3,677,439.13. Britain remained the world's fifth-biggest economy with a GDP of USD 2,622,434 million at the end of 2017.
Home Ministry institutes five Police Medals
The Union Home Ministry has instituted five Police Medals to promote professionalism and excellence in service and give recognition to the security personnel doing good work in stressful environment and in difficult areas.
All the five medals will be minted and supplied by the Union Home Ministry and will be awarded each year by the Central or State police force/organisations on a fixed day. A selection committee in every State/Central police force/organization would be identifying the awardees every year.
India becomes 69th shareholder of European development bank
India on July 11, 2018 formally became the 69th shareholder of the European Bank for Reconstruction and Development (EBRD), paving the way for more joint investment with Indian companies across the bank's regions of operation.
India was selected as a member after all the existing EBRD shareholders, who also form its board of governors, voted unanimously in favour of the country's application in March 2018. The membership process was fully completed this week.
India was ranked 57th in the latest Global Innovation Index (GII) rankings, which were released in New York on July 10, 2018. India was ranked 60th in the year 2017 and 81st in 2015.
Hence, not only has India been able to maintain its top place in the central and South Asia region, but it has also been constantly moving up the global ranking. Globally, Switzerland continued to hold its number one position.
Government launches ‘Technology Challenge’ to eliminate human entry into sewers
The Union Ministry of Housing and Urban Affairs has launched a ‘Technology Challenge: Identifying solutions for cleaning of Sewerage Systems and Septic Tanks’ to promote suitable techniques for cleaning sewers and septic tanks.
The main objective of the challenge is to eliminate human intervention in the cleaning of sewers and septic tanks. The challenge aims to identify technological as well as business process innovations and endorse viable business models that are suitable for a different size, geographies, and class of cities.