Current Affairs - April 16, 2018 Current Affairs

As part of the drive to double the income of farmers by 2022, the government has raised the authorized capital of NABARD by six times from 50 billion to Rs 300 billion to help it increase its lending to the rural economy. A bill in this regard was approved by Parliament earlier this year. The increase in authorized capital will enable Nabard to respond to commitments it has undertaken particularly in respect of the Long Term Irrigation Fund and on-lending to cooperative banks.

Punjab National Bank (PNB) launched new products such as pre-approved credit card and UPI solution to mark its 124th foundation day. Besides, the bank announced its UPI partnership with the expense management app WALNUT that comes embedded with features such as bill reminders, bill-split, and instant paperless loans.

India and Russia signed 7 MoUs at Defence Expo at Chennai, Tamil Nadu. These MoUs were signed for manufacture, development of spares, sub-assemblies and assemblies of identified Russian origin platforms. The MoUs were signed during third India-Russia Military-Industrial Conference held on the sidelines of DefExpo 2018.

Reliance Jio has signed an agreement to raise nearly Rs 3,250 crore as samurai term loan from Japan-based banks. Reliance Jio Infocomm Limited said that, it had signed approximately JPY 53.5 billion samurai term loan with 7 year bullet maturity. The facility is guaranteed by Reliance Industries Limited. It will be used for funding Reliance Jio Infocomm Limited's ongoing capital expenditure. With exchange rate of 60 paise per Japanese yen, the loan value amounts to nearly Rs 3,248 crore. The facility has been fully underwritten by Mizuho Bank, Ltd., MUFG Bank, Ltd. and Sumitomo Mitsui Banking Corporation Singapore Branch. It added that, it will be launched into syndication soon.

Himachal Pradesh celebrated its 71st foundation day with much fanfare and gaiety. Several cultural events were organized across the state. It may be recalled that the hill state came into existence after the merger of 30 odd princely states in 1948. The main event was held at Ridge Maidan in Shimla, where Chief Minister Jairam Thakur reviewed the ceremonial Parade presented by police, home guards and NCC cadets.

Home Minister Rajnath Singh launched the web-based application e-FRRO (e-Foreigners Regional Registration Office) scheme. Under which foreigners can avail, various visa and immigration-related services online. This scheme is aimed at building a centralised, transparent online platform for foreigners to avail of visa-related services.

The 7th edition of Home Expo India 2018 will be inaugurated by Smriti Zubin Irani, the Union Minister of Textiles and Information and Broadcasting, at India Expo Centre and Mart in Greater Noida on April 16, 2018. The 3-day expo, organized by the Export Promotion Council for Handicrafts (EPCH), is on three segmented categories shows comprising Housewares, Textiles and Furniture. This will be one of leading business-to-business shows where more than 650 Indian exporters will be displaying a wide range of tableware, home textiles, kitchenware, houseware and bathroom accessories. International buyers, leading manufacturers and exporters will share the same platform and will exchange various ideas related to this industry. This event will showcase the finest artistic elements and craftsmanship in harmony with innovative designs and latest products.

Haryana soon to give relax to the undergraduate students as it is going to introduce a unique way which will bring a smile on their faces that is Choice based credit system (CBCS). The Haryana government said it has decided to introduce choice-based credit system (CBCS) and also revise the syllabus and workload in eleven subjects at the under-graduation level "in keeping with global scenario". The subjects are economics, political science, psychology, mathematics, physics, chemistry, computer science, botany, zoology, commerce, and geography, said an official spokesperson of the higher education department. They would review the existing syllabi in the universities of Haryana, the neighboring states as well as the model curriculum of UGC to make an assessment of the workload and evolve choice-based credit system.

Wrestler Pooja Dhanda won silver in the women's freestyle 57 kg event in the Commonwealth Games on Friday, giving India its sixth medal. India had earlier won two golds and a silver in shooting, another gold in wrestling and a bronze in boxing. India is third in the overall standings with 37 medals, which includes 17 gold medals.

The Situations between the UK and European Union are always on the verge of slip. Brexit minister David Davis warned on Thursday that parliament could veto any final deal negotiated with the European Union unless it has a "substantive" idea of what the future trading relationship.

In line with the efforts to indigenize the defense sector under the 'Make in India' initiative, Larsen & Toubro (L&T) and Bharat Electronics Limited (BEL) signed a MoU to cater to the needs of evolving domestic and export markets for defense products and systems. The MoU seeks to leverage the capabilities of both the firms for meeting the growing requirements of the Indian Armed Forces. The MoU also intends to leverage the well-developed supply chain, vast experience and expertise of BEL and L&T to synergize and enhance exports in the defense sector.

The seventh edition of Home Expo India 2018, organized by Export Promotion Council for Handicrafts (EPCH), was inaugurated at India Expo Centre & Martin Greater Noida. Union Minister of Textiles Smriti Irani inaugurated the fair, while Ajay Tamta, Minister of State for Textiles, was the guest of honor. Home Expo India 2018 is expected to generate business deals for direct import.

Vishnu Sadashiv Kokje, the former Himachal Pradesh governor and Madhya Pradesh High Court judge, has been elected as the new international president of Vishwa Hindu Parishad (VHP) in Gurugram on April 14, 2018 for which voting was held for the first time in over five decades. Kokje got 131 votes and defeated incumbent G Raghava Reddy who could muster 60 votes. The election was necessitated after the organisation's members failed to reach a consensus on a new international president. Prior to his election to the international president, Kokje was the international vice president of the VHP. He also worked as the president of the India Development Council of RSS.

Sampanna Ramesh Shelar, a 17-year-old swimmer from Pune, India has set a world record to double cross the Bangla Channel. Water stretch from Saint Martin's Island Jetty to Teknaf in Bangladesh is known as the Bangla Channel. Sampanna Ramesh Shelar accomplished this feat on April 13, 2018 by completing the journey of 32.2 kilometers in 9 hours and 10 minutes.

Gaurav Solanki has become the second Indian male boxer after Suranjoy Singh (2010) to win gold in the flyweight category (52kg) at the Commonwealth Games. Solanki achieved the feat after defeating Northern Ireland's Brendan Irvine in the final at Gold Coast. The gold was India's 2nd in boxing and 20th overall at CWG 2018.