Current Affairs - February 20, 2018 Current Affairs

Paytm has appointed Pallavi Shroff, managing partner of Shardul Amarchand Mangaldas law firm to its board of directors. Her appointment will drive the growth of financial services business such as lending, insurance & wealth management. She joins as an independent director & is the 7th appointee to Paytm's board.

Axis Bank has announced opening of off-shore banking unit at the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City), Gandhinagar, Gujarat. It was inaugurated by Union Commerce Secretary, Rita Teaotia in presence of Shikha Sharma, MD & CEO, Axis Bank. Through this offshore banking branch, Axis Bank will be able to offer more products to its clients including trading in foreign currency in overseas markets, raising funds in foreign currency and deposits & borrowings from non-residential sources. In context of this news, it is important to note that State Bank of India (SBI), ICICI Bank, IDBI Bank, Kotak Mahindra Bank, YES Bank, Federal Bank and IndusInd Bank already have their International Business Units (IBUs) at IFSC.

PNB Housing Finance Ltd has tied up with International Finance Corporation (IFC), part of the World Bank Group, to raise $800 million for green and affordable housing in India. As per the deal with PNB Housing, IFC will make $400 million available for the new facility, of which $150 million will be its own money and the rest will be mobilized from other sources. All of this money will be raised through masala bonds issued by PNB Housing. The move comes as a big boost to Prime Minister Narendra Modi's housing for all scheme by 2022. Under PMAY, the government offers interest subsidy of 6.5% to economically weaker sections on their home loans. The scheme is for people with an annual income up to Rs3 lakh.

Union Minister of Minority Affairs, Mukhtar Abbas Naqvi has stated that an international educational institution for minorities will be built in Rajasthan's Alwar city. The institute in Alwar, will be one of the five such institutes, which the Central Government is planning to set up across India. The plan for building international educational institution for minorities was initially prepared in 2016 and an 11-member committee was formed under former bureaucrat Afzal Amanullah to oversee it.

The government of India and the UN jointly announced that India will host the global World Environment Day celebrations on 5 June 2018. World Environment Day is celebrated globally on June 5. The theme for World Environment 2018 is "Beat Plastic Pollution".

The government of India and the UN jointly announced that India will host the global World Environment Day celebrations on 5 June 2018. World Environment Day is celebrated globally on June 5. The theme for World Environment 2018 is "Beat Plastic Pollution".

Amazon becomes the first foreign e-commerce firm to start its own food retail venture in India called Amazon Retail, piloting its services in Pune. It will reportedly be available on Amazon India platform and sell locally made and packaged food to the consumers directly. Amazon also has Amazon Now app, which connects retailers with customers for sale of groceries.

According to the Union Minister of State for Civil Aviation Jayant Sinha, four places (Ambikapur, Bilaspur, Jagdalpur & Raigarh) in Chhattisgarh will get airports as part of the UDAN (Ude Desh Ka Aam Nagrik) scheme. UDAN (Ude Desh ka Aam Naagrik) is a regional airport development and "Regional Connectivity Scheme" (RCS) of Government of India. At the beginning of the scheme, out of total 486 airports, 406 were participating unserved airports,27 well served airports out of 62 non-RCS airports and 12 operational out of 18 participating underserved regional operational airports with regular fixed-wing scheduled flights.

Haryana State Government launched four canteens which will serve subsidised and healthy food to the poor. Haryana Chief Minister Manohar Lal Khattar launched these canteens at Faridabad, Gurugram, Hisar, and Yamunanagar. These canteens have been set up under the 'Antyodaya Aahaar Yojana' aimed at providing healthy, nutritious and hygienic food to poor and needy people of the state. All poor and needy people in the state can buy a food packet from these canteens at just Rs. 10/-. The food packet weighs 730 gm and offers 1150 calories.

Reliance Industries along with global firms, is planning to invest more than?60,000 crore in Maharashtra in the next 10 years for establishing an integrated digital industrial area. Once built, it will be the first integrated digital industrial area in the country. More than 20 global companies including Cisco, HP, Dell, Nokia & Nvidia among others have already agreed to invest in it.

The UK- India Joint research projects on Water Quality Research and Energy Demand Reduction in Built Environment were launched in New Delhi. The Water Quality Research programme has eight projects and Energy Demand Reduction in Built Environment programme has four projects, with a total joint investment of up to 15 million British Pound.

A special task force of Indian Army & Indonesian Army have begun the 6th Garuda Shakti exercise in the West Java province of the archipelago country. Drill aims to build experience sharing in counter-terrorism operations, close quarter combat & other areas of special operations. he exercise between Indian & Indonesian Special Forces highlights the increasing trust & cooperation between the 2 armies.

The prestigious World Congress on Information Technology has started in Hyderabad on February 19, 2018. Prime Minister Narendra Modi addressed the inaugural session of the 3-day IT summit through a video link. The World Information Technology and Services Alliance is organising Congress while the National Alliance of Software and Services Companies and the Telangana state Government are jointly hosting the prestigious event. Over 2000 delegates including heads of IT majors, visionaries, Government leaders and academia from 30 countries will take part in the Congress being held for the first time in India.

The World Day of Social Justice is observed every year on February 20 to recognize the need to promote efforts to tackle issues such as poverty, exclusion and unemployment. It is an opportunity to recognize social and economic injustices in the world - and to find ways to help those affected. The day aims to break down the barriers created by gender, class, race, sexuality and religion to create a world that promotes health, opportunity and justice for all. The 2018 theme is "Workers on the Move: the Quest for Social Justice".

Former President Pranab Mukherjee will be conferred an honorary D.Litt by the Indian Institute of Engineering Science and Technology. Mukherjee will be conferred the honour during IIEST convocation for his role as a public figure for many decades. Mukherjee was also awarded an honorary D. Litt by Jadavpur University in December last year.