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Important Current Affairs of 7th June


India-Marshall Islands tax data pact notified.

• The union government notified an agreement with the Marshall Islands a country of volcanic islands and coral atolls in the Pacific Ocean, for the exchange of banking and company information for tax purposes.

• It comes under tax evasion and tax avoidance.

It is called as tax information exchange agreement (TIEA)

They allow mutual cooperation between the two countries by providing an effective framework for exchange of information in tax matters.

• The agreement (India-Marshall Islands TIEA) between the Indian government and the government of the Marshall Islands was signed on March 18, 2016, at Majuro, the Republic of the Marshall Islands.

• The bilateral agreement is based on international standards of tax transparency and exchange of information and enables the sharing of information on request.

Gujarat topped the country with annual fish production of 7.8 lakh tonnes.

• Gujarat topped the country with annual fish production of 7.8 lakh tonnes, followed by Tamil Nadu (7.02 lakh tonnes) and Kerala (6.43 lakh tonnes) according to the Central Marine Fisheries Research Institute (CMFRI).

Tamil Nadu:

• Kanniyakumari topped in the Tamil Nadu state annual fish production.

• Ramanathapuram has emerged as the second topper in the Tamil Nadu state in annual fish production. It has recorded 1.46 lakh tonnes during 2018.

Nagapattinam stands third highest fish production district to have recorded 91,186 tonnes. Thoothukudi stands fourth by recording 70,965 tonnes followed by Cuddalore (62,525 tonnes) and Chennai (55,707 tonnes).


• The Central Marine Fisheries Research Institute (CMFRI) released the district wise marine fish landing data for the year 2018. The Fisheries Resources Assessment Division (FRAD) of CMFRI had collected random sampling data across the state and finalized the provisional figure. The data was collected by the fisheries department by employing the multi-stage cluster sampling method and the figures varied.

Fish export in 2018:

• While Cuttlefish (Cephalopods), prawns, Pomfrets, crabs, and fishes belonging to the family of Percidae were exported, the protein-rich Sardines and Anchovies were sold in the local markets.

• According to CMFRI report, the Fish production for the year 2018 was estimated at 3.49 million tonnes at the all India level.

Rajnath Singh to chair the Committee on Parliamentary Affairs.

• Defence Minister Rajnath Singh is to chair the Cabinet Committee on Parliamentary Affairs in the second term of the NDA government. Decisions on all the parliament matters will be taken by the Cabinet Committee on Parliamentary Affairs.

• He is also a part of the Cabinet Committee on Political Affairs, the all-important panel on political affairs which is headed by Prime Minister Narendra Modi. All important political decisions in the ruling dispensation will be taken by the panel.

• Apart from these 4 committees, he is also a member of the Cabinet Committee on Economic Affairs (CCEA) and the Cabinet Committee on Security (CCS). In total, he is now a part of six key panels of the government.

• In the last government, Rajnath Singh headed the Cabinet Committee on Parliamentary Affairs.

Health Minister Dr Harsh Vardhan reviews status of Nipah Virus disease in New Delhi.

• Union Health and Family Welfare Minister Dr. Harsh Vardhan reviewed the status of Nipah Virus disease in New Delhi.

• A total of 316 contacts are being followed up on a daily basis.

• One positive case admitted in Ernakulam is now conscious and having a mild fever and six symptomatic contacts have been admitted in the quarantine facility at the Medical College and all the samples were found to be negative.

• A Sample from one symptomatic contact sent to NIV Lab.

• Strategic Health Operation Centre (SHOC) at NCDC has been activated and the activities are coordinated.

• 40 calls have been attended at SHOC- NCDC regarding Nipah information.

District Control Room has been set up in the Collector Office (Helpline No. 04842425200)

Joint Commissioner(Livestock Health) deployed two experts to Ernakulam, Kerala to support local Animal Husbandry Department in the investigation.

• On the basis of the epidemiological investigation, a team from NIV Pune and Animal Husbandry are investigating bats and other animals in the vicinity of his (confirmed case)residence during the possible time of transmission of infection.

About Nipah Virus

• It is a genus of RNA viruses belongs to the family Paramyxoviridae and order Mononegavirales containing five established species.

• Henipaviruses are naturally harbored by pteropid fruit bats and microbats of several species

Scientific name: Henipavirus

Rank: Genus

Higher classification: Paramyxoviridae.


Taiwan proposed deal to buy tanks from the US.

• Taiwan plans to propose a deal to buy tanks and portable missiles from the U.S. This proposal by Taiwan drew an angry rebuke from China. Taiwan’s Defence Ministry requested the US for 108 M1A2 Abrams main battle tanks, more than 1,500 Javelin and TOW anti-tank missiles, and 250 shoulder-fired Stinger anti-aircraft missiles in the proposal formally.

• The U.S. government, on the other hand, has given Congress informal notification of its plan to sell the equipment in a deal worth $2 billion.

One-China policy:

• China has asked the U.S. to understand that its decision to sell arms to Taiwan might cause problems between China and Taiwan as it is expected Taiwan to abide by the One China principle.

• One-China policy says that there is only one country of China with the official name of China, despite the fact that there are two governments namely the People's Republic of China (PRC) and the Republic of China (ROC).

• Despite being ruled separately since the end of a civil war in 1949, China still views Taiwan as its territory and has vowed to take the island, by force if necessary.

• If China announces war on Taiwan, the country outgunned in terms of troop numbers and firepower. Hence, Taiwan is in need to upgrade much of its equipment. Its current tank force consists of around 1,000 CM 11 Brave Tiger and M60A3 tanks, a technology that is increasingly obsolete.

Past Taiwan and US deal:

• The U.S. government announced plans in 2018 to sell spare parts worth $330 million to Taiwan for its U.S. made F-16 fighter jets and C-130 military transport planes. Taiwan has also submitted a formal request to Washington for new fighter jets to upgrade its air force but the US had not made any open response yet.


RBI reduces interest rates by 25 basis points to 5.75 percent.

• The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) reduced interest rates by 25 basis points to 5.75% with immediate effect amid slowing economic growth and rising global uncertainty, for the 3rd time in a row.

RBI Governor Shaktikanta Das announced it in the second bi-monthly monetary policy statement for 2019-20.


• The reduction is expected to bring down the EMIs on home and auto loans, and reduce the debt repayment burden on corporates.

What is repo rate?

• It is the rate at which the central bank of a country, that is RBI, lends money to commercial banks in the event of any shortfall of funds. The monetary authorities use this to control inflation. The banks can borrow money for about 7 to 14 days from the Reserve Bank of India.

Policy rates and Reserve ratios:

Policy Repo Rate: 5.75%

Reverse Repo Rate: 5.50%

Marginal Standing Facility Rate: 6.00%

Bank Rate: 6.00%

CRR: 4%

SLR: 19.00%

HDFC Bank appoints new auditor after RBI's action against EY firm.

• HDFC Bank has cancelled the re-appointment of SR Batliboi & Co, a member firm of EY, after the RBI restricted it from auditing commercial banks for a year. India's largest bank by market value has appointed MSKA & Associates as its new statutory auditor. RBI said lapses have been identified in a statutory audit assignment carried out by SR Batliboi.


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