Daily Current Affairs: May 18, 2018

Daily Current Affairs: May 18, 2018

Dear readers, This post contains important current affairs. It includes all Major National, International, Business and Sports related current affairs. A brief explanation of every current affair is provided to further enhance your general knowledge.

• The Supreme Court on May 18, 2018 scheduled the Karnataka assembly floor test on May 19, 2018, – slashing the 15-day window given by governor Vajjubhai Vala to BJP chief minister BS Yeddyurappa to prove his majority.
• Now, the Pro-Tem Speaker will take decisions in accordance with the law on the issue of the floor test.
• The apex court was hearing a petition moved by the Congress-JD(S), challenging the governor’s decision to invite the BJP to form government in the state.

KG Bopaiah appointed as Pro-Tem Speaker for Karnataka assembly floor test

• Karnataka Governor Vajubhai Vala on May 18, 2018 appointed BJP legislator K.G. Bopaiah as Karnataka Assembly’s Pro-Tem Speaker for administering oath to all newly elected legislators on May 19, 2018, ahead of the floor test directed by the Supreme Court.
• Bopaiah is a three-time legislator from Virajpet seat in Kodagu region.
• He served as the Speaker during the Bharatiya Janata Party rule in Karnataka during 2008-13.

BSE is first to get US SEC recognition

• The Bombay Stock Exchange received the recognition certificate of ‘Designated Offshore Securities Market’ (DOSM) from the United States Securities and Exchange Commission (SEC).
• This will help in the sale of securities to US investors through the BSE platform without registration of such securities with the US SEC.
• The BSE becomes the first exchange in India to receive the DOSM recognition.

IISER develops device to detect and remove arsenic from water

• Indian Institute of Science Education and Research (IISER) in collaboration with private company has developed a new device ‘Arsenic Sensor and Removal Media’ to detect and remove arsenic content from water and make it safe and usable by households.
• The device is easy to use, very cost effective and anyone can use it to detect arsenic easily.
• It uses very simple and household detection sensing methodology.

RBI modifies norms for setting up of IFSC Banking Units

• The Reserve Bank of India modified norms for setting up of the International Financial Services Centres (IFSC) Banking Units (IBUs) by banks in IFSCs.
• The modification makes mandatory for parent bank to provide and maintain at all times minimum capital of USD 20 million or equivalent in any foreign currency to its IBU.
• However, minimum prescribed regulatory capital, including for exposures of IBU, should be maintained on on-going basis at parent level.

Delhi to become the most populous city: UN estimates

• According to the United Nations estimates, Delhi is projected to become the most populous city in the world around 2028.
• Tokyo is the world’s largest city with population of 37 million inhabitants, followed by New Delhi with 29 million and Shanghai with 26 million.
• The projected population size of New Delhi in 2028 is about 37.2 million.

Guwahati: India’s first solar powered railway station

• Guwahati now has India’s first railway station run by solar power.
• Around 2352 solar modules with a capacity of generating 700 kwp has been set up over the roof of the Guwahati railway station.
• The solar power plant will save Rs 67 lakh worth of electricity.

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