Current Affairs for 6th June.

1. Current Affairs: June 06, 2017
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June 06, 2017
Habibganj Railway Station to become India’s First Private Railway Station
Habibganj railway station in the suburbs of Bhopal will
become country’s first railway station to be redeveloped in
a public-private partnership (PPP) mode. On June 9, station
redevelopment work in the railway station will be launched
by Railway Minister Suresh Prabhu. The idea is to develop
Habibganj railway station as a as a world-class transit hub equipped with all amenities. The
operation and maintenance of the railway station has been given to Bhopal-based Bansal Group
for a period of eight years. The group has managed to win the bid in 2016. Bansal Group plans
to completely overhaul the station and develop four commercial land parcels to make
Habibganj a commercial hub with shops, offices and hotels, all in a span of three years. The
environment-friendly railway station will be powered by solar energy. The station will have
facilities for disabled, in addition, to lifts, escalators and travelators, underpasses. In case of
emergency, the station will be redesigned in such a way that the the premises can be evacuated
in four minutes and passengers can reach designated points of safety in six minutes. Bansal
Group will be responsible for all the facilities at the station like food stalls, retiring rooms,
power, platform maintenance, parking etc. However, the company will not be responsible for
core operations such as train and parcel movement, signalling and ticketing.

2. Current Affairs: June 06, 2017
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India’s first Rural LED Street Lighting Project to be implemented in Andhra
Pradesh
Government will retrofit 10 lakh conventional street lights with LED lights in Gram Panchayats
of 7 districts in Andhra Pradesh. The project will be
carried out by the Energy Efficiency Services Limited
(EESL) functioning under the Ministry of Power. This
project will be the first rural LED street lighting project
under the Government of India’s Street Lighting
National Project (SLNP). In the first phase of the project,
the districts of Guntur, Prakasham, Nellore, Kurnool, Kadapa, Ananthapur and Chittoor will be
covered. The total upfront capital cost of the project would be funded by French Development
Agency Agence Française de Développement (AFD). The 2017 Global Retail Development Index
(GRDI) titled ‘The Age of Focus‘has placed India at the top position among 30 developing
countries on ease of doing business in the retail sector. This is the 16th edition of the Global
Retail Development Index (GRDI).
‘India won’t be impacted by some Gulf nations snapping ties with Qatar’
India on Monday said it sees no impact of the decision taken
by some Gulf countries to sever diplomatic ties with Qatar,
which is the country’s largest liquefied natural gas (LNG)
supplier. “There is no challenge arising out of this for us. This
is an internal matter of the GCC (Gulf Cooperation Council)
and it has happened earlier also. Our only concern is about Indians there. We are trying to find
out if any Indians are stuck there,” said External Affairs Minister Sushma Swaraj. This comes

3. Current Affairs: June 06, 2017
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after Saudi Arabia, Egypt, Yemen, Bahrain and the UAE decided to cut off diplomatic ties with
Qatar for allegedly supporting terrorism by allegedly backing radical Islamist groups such as
ISIS and al-Qaeda. Saudi Arabia said Qatar backs “Iranian-backed terror groups” while Qatar
has said that the charges are “unjustified” and not based on facts. The UAE and Egypt have
asked Qatari diplomats and other foreign ministry officials to leave their respective countries
over the next couple of days. On the other hand, Qatar Airways, the national carrier, has
suspended all its flights to Saudi Arabia. Airlines from the other GCC countries, such as Etihad
and Emirates Airways, have also cancelled flights to Doha.
Nepal Signs Agreement for Mega Hydroprojects with Chinese Firm
Nepal has struck a major deal with China Gezhouba Group
Corporation (CGGC) for developing a 1,200 MW Budhigandaki
Hydroelectric Project, which will be the biggest hydro project in
Nepal having the potential to resolve its perennial power crisis.
The MoU was signed in the presence of outgoing Prime Minister
of Nepal Pushpa Kamal Dahal ‘Prachanda’ and Chinese
Ambassador to Nepal Yu Hong. Saudi Arabia, Bahrain, Egypt, Yemen, Libya and UAE have
suspended their diplomatic ties with Qatar. All the six countries have announced that they
would withdraw their diplomatic staff from Qatar and eject Qatar’s diplomats from their
territories. They have also planned to cut air and sea traffic.

4. Current Affairs: June 06, 2017
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The World Bank’s Global Economic Prospects (GEP) has projected a growth rate
of 7.2%
The World Bank’s Global Economic Prospects (GEP) has projected a growth rate of 7.2% for
India in the financial year 2017 as against 6.8% growth
in 2016. Also, the bank in its report expects India’s
growth rate to remain at 7.5% in 2018 and 7.7% in 2019.
The World Bank has kept the global growth forecast in
2017 and 2018 at 2.7% and 2.9% respectively. The bank
has cited stronger demand from major advanced
economies, increased trade flows to and from China, and a diminished drag from weak demand
from commodity exporters to be the reason for recovery in trade growth in 2017. The bank has
noted that India is recovering from the temporary adverse effects of demonetisation. Despite
the slowdown in the growth rate, the World Bank has stated that India still remains the fastest
growing major economy in the world. According to the bank, the growth projections for China
remained unchanged at 6.5% for 2017 and then 6.3% for the next two years 2018 and 2019.
SBI’s QIP issue opens as part of effort to raise ` 15,000 cr
State Bank of India on Monday said it has opened
qualified institutional placement (QIP) issue of equity
shares of 1 each to qualified institutional buyers. This
is part of the bank’s plan to raise equity capital of up
to 15,000 crore during FY18. The floor price of the QIP
issue, based on the formula prescribed by the market regulator’s regulations, is ₹ 287.58 an
equity share, the bank said in a stock exchange filing. It may offer a discount of not more than 5

5. Current Affairs: June 06, 2017
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per cent to the floor price. This capital raising programme comes in the backdrop of public
sector banks’ facing pressure to enhance their capital base to meet Basel III regulatory capital
stipulation and to make provisions for bad loans. According to the bank, its capital to risk
weighted assets ratio (CRAR) as well as for the Group as a whole is estimated to be well above
the Regulatory CAR in the medium horizon of 3-5 years. However, to maintain adequate
capital, it has options to augment its capital resources by raising subordinated debt and
perpetual debt instruments, besides equity as and when required.
Birla to launch payments bank via newly formed AB Fin Services
The Aditya Birla Group plans to launch its payments bank
through the newly formed Aditya Birla Financial Services
once the merger of Aditya Birla Nuvo with Grasim
Industries is completed by end of September quarter. Sushil
Agarwal, Whole-Time Director and Group CFO, Grasim
Industries, told BusinessLine that the payments bank licence
was issued to Aditya Birla Nuvo and Idea Cellular combine before the merger between Grasim
and AB Nuvo was proposed and formation of full-fledged financial services company. But now
with the merger receiving almost all approvals, the the payments bank licence would be
transferred to the newly formed entity Aditya Birla Financial Services that will hold all the
financial business interest of the Group, including insurance, mutual fund, NBFC and housing
finance.

6. Current Affairs: June 06, 2017
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NSE’s global trading platform goes live at GIFT-IFSC
The National Stock Exchange of India on Monday
launched its international exchange, NSE IFSC, at
GIFT International Financial Services Centre (IFSC)
at GIFT City in Gandhinagar. The newly launched
exchange kicked off trading in popular index
derivatives contracts on Nifty 50, Nifty Bank and Nifty IT. Gujarat Chief Minister Vijay Rupani
marked the beginning of the trading at a function, in the presence of SEBI Chairman Ajay Tyagi
and NSE Chairman Ashok Chawla. In the commodity space, the exchange will offer derivatives
contracts in gold and silver, and currency derivatives on leading global currency pairs of
EURO-USD and GBP-USD. The stock derivatives will include futures and options on 10 Indian
stocks, including Axis Bank, HDFC Bank, ICICI Bank, Infosys, L&T, Maruti, Reliance Industries,
SBI, Tata Motors and TCS.