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Weekly Current Affairs July 2018: 1st Week

Published on Tuesday, July 03, 2018

Banking and Financial Awareness:

  • RBI proposes Board of Management for all urban co-op banks, to protect the interests of depositors, overcome constraints imposed by dual regulation.
  • Insurance Regulatory and Development Authority of India (IRDAI) has approved the proposal of acquiring a majority stake in the IDBI bank by Life Insurance Corporation (LIC).
  • RBL Bank has raised its stake in Swadhaar Finserve Pvt. Ltd to 100% from 60.48%.
  • The Export-Import Bank of India (Exim Bank) announced that it has extended $10 million worth of line of credit (LOC) to Seychelles, for healthcare and procurement of goods and projects.
  • According to BSE , Bajaj Finance overtook Axis Bank in market capitalization ranking 


  • S Ramesh appointed as chairman of Central Board of Indirect Taxes and Customs (CBIC).
  • Anant Barua appointed as a whole-time member of the Securities and Exchange Board of India (SEBI).
  • Tayyip Erdogan Wins 2nd Term as President of Turkey.
  • Janardan Singh Gehlot was elected as the president of the International Kabaddi Federation (IKF).
  • Nasser Khan Janjua resigns as Pakistan’s National Security Adviser.


  • South African Indian cinema mogul Moosa passes away.
  • Punjab Congress leader Surinder Singla passes away.

Honour, Awards and Ranks

  • India was ranked 35th among 100 countries by Global Real Estate Transparency Index (GRETI).
  • Nigeria Replaces India to Become World's Largest Poor Population by the US-based think tank, Brookings.
  • Abu Dhabi, capital of the United Arab Emirates (UAE), has topped the list of "smart cities" in the Middle East and Africa, according to the Abu Dhabi's Department of Culture and Tourism.
  • According to the Cost of Living Survey published by Mercer, Mumbai continues to be the most expensive city in India to live in for expatriates, ahead of Washington and Melbourne.
  • North Korea as one of the “worst human trafficking nations” for the 16th straight year, citing the use of forced labour categorised by The US State Department.

MOU’s, Agreement and Summits

  • The Asian Infrastructure Investment Bank (AIIB) will invest $200 million in India’s National Investment and Infrastructure Fund to boost infrastructure projects.
  • The ninth and final meeting of Eminent Persons Group (EPG) on Nepal-India Relations concluded in Kathmandu, Nepal.
  • Ministry of Women and Child Development Organises POSHAN Abhiyaan TECH-THON for better roll out of its major social sector.
  • Andhra Pradesh and Singapore signed a MOU to accelerate the construction work of its new capital, Amratvati.

Important Dates

  • International Day in Support of Victims of Torture – 26 June.
  • National Statistics Day: 29 June, the theme is ‘Quality Assurance in Official Statistics’.
  • Goods and Services Tax Day: 1 July
  • International Day Against Drug Abuse and Illicit Trafficking: 26 June. theme is "Listen First - Listening to children and youth is the first step to help them grow healthy and safe."
  • Micro, Small and Medium-sized Enterprises Day – 27 June
  • International Asteroid Day – 30 June

Important News- India

  • Power ministry RK Singh may make 24 degrees celsius as default setting for air conditioners, this will benefit of consumers both from financial and their health points of view. 
  • Cabinet Approves Capital Infusion of Rs.2000 crore in Export Credit Guarantee Corporation Ltd, for strengthening of Export Credit Guarantee Corporation (ECGC).
  • The 4th National Review and Consultation on Swachh Iconic Places to review the progress of maintaining and cleaning the Iconic Places, began in Hyderabad.
  • Defence
  • India and Bangladesh have agreed to institute a Coordinated Patrol (CORPAT), aimed to consolidate bilateral defence relations.

Important News- States

  • Gujarat government launches Suryashakti Kisan Yojana (SKY) for farmers to generate electricity for their captive consumption as well as sell the surplus power to the grid.
  • The Odisha government decided to raise the health cover from Rs 5 lakh to Rs 7 lakh for women under Biju Swasthya Kalyan Yojana (BSKY).

Sports News

  • Indian shooter Saurabh Chaudhary win a gold medal in the ISSF Junior World Cup in Suhl, Germany.
  • swimmer Swadesh Mondal created a national record at the 45th Glenmark Junior and 35th Sub Junior National Aquatic Championships in Pune, Maharashtra.

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