NATIONAL NEWS
All vehicles to come fitted with high security number plates from April 1, 2019
All motor vehicles will come fitted with tamper-proof high-security registration plates (HSRPs) from April 1 to protect against counterfeiting. Transport Minister Nitin Gadkari said the proposal to amend the concerned rule in Central Motor Vehicles Rules, 1989 and revision of the HSRP Order, 2001 was placed in the public domain for soliciting objections/suggestions and was discussed in a meeting on June 5, 2018.
- An HSRP is a chromium-based hologram applied by hot stamping on the number plates both at the front and back besides laser-branding of a permanent identification number. Third registration mark refers to a chromium-based hologram sticker affixed on the inner side of the vehicles’ windshield which will have the details of registration.
6th International Rice Research Institute inaugurated in UP
Prime Minister Narendra Modi inaugurated the IRRI South Asia Regional Centre (ISARC) at the campus of National Seed Research and Training Centre (NSRTC) in Varanasi. The first international centre in eastern India is expected to improve crop production, seed quality and the nutritional value of rice.is expected to play a major role in harnessing and sustaining rice production in the region.
- With an aim to double farmers’ income, the Prime Minister dedicated the country the 6th IRRI SARC campus in Varanasi which will serve as a hub for rice research and training in South Asia and SAARC region.
- The major aim of International Rice Research Institute (IRRI) is to improve livelihood and nutrition, abolishing poverty, hunger, and malnutrition among those countries which depend on rice-based agri-food systems.
- The inaugural function was graced by Uttar Pradesh Chief Minister Yogi Adityanath, Governor Ram Naik and several other dignitaries.
- Extra info.:
International Rice Research Institute Headquarters: Los Banos, Philippines
Motto: "Rice Science For A Better World"
INTERNATIONAL NEWS
World's first single-use plastic free passenger flight takes off
Portuguese airline Hi Fly decided to bring about a change by introducing single-use plastic free flight. The flight took off from Lisbon to Natale, Brazil, without a single piece of single-use plastic on board.
- Other airlines such as Air New Zealand and Alaska Airlines are also following similar approaches to reduce their plastic usage onboard.
BANKING & FINANCE
Govt infuses Rs 2159 cr in United Bank of India
State-owned United Bank of India said the government has decided to infuse Rs 2,159 crore in the bank as part of Rs 28,615 crore capital infusion to be done in about half a dozen banks. The government has decided to pump Rs 28,615 crore into seven public sector banks (PSBs) through recapitalisation bonds soon.
- The recapitalisation would enhance the lending capacity of PSBs and help them come out of the Reserve Bank of India's Prompt Corrective Action (PCA) framework.
- Extra info.:
United Bank of India Headquarters: Kolkata
RBI allows Sidbi to use an existing Rs 1000-crore corpus for lending to MFIs
India’s institutional framework to support microfinance would get a boost with Reserve Bank of India clearing a proposal to dig in an existing Rs 1000-crore corpus for funding micro lenders. The development bank will now use the money to offer soft loans to Micro Financial Institutions (MFIs) on a condition that end borrowers should get loans at 15-17% rate, which is significantly lower than the prevailing 20-22% market rate.
- Sidbi has so far tied up with not for profit entities such as Uttar Pradesh-based Cashpor Micro Credit and Karnataka-based Shri Kshetra Dharmasthala Rural Development Project (SKDRDP) for channelling micro loans at a lower-than-market rate.
RBI relaxes withdrawal limit for depositors of City Co-operative Bank
The Reserve Bank has increased the withdrawal limit for depositors of City Co-operative Bank Ltd, Mumbai, to Rs 5,000. Amid weakening of the financial position of the cooperative bank, the RBI in April had imposed several restrictions on it, including limiting the withdrawal by depositors to Rs 1,000.
- A sum not exceeding Rs 5,000 of total balance in every savings bank account or current account or term deposit account or any other deposit account may be allowed to be withdrawn by depositor.
ICICI Bank tops list of most employees caught in fraud
ICICI Bank has topped the list of banks with maximum number of employees on whom action has been taken in the last three years for involvement in frauds. In the last three years, action has been taken against 13,949 bank officials belonging to 60 PSU banks and private banks.
- ICICI Bank officials alone account for 2,236 or 16% (one-sixth) of the total such cases. In each of these three years, 2015, 2016 and 2017, the number of ICICI Bank officials against whom the action has been taken was in the range of over 600 to under 900.
BUSINESS & ECONOMY
India pips China in FDI inflows for the first time in 20 years
For the first time in two decades, India has been getting more foreign investment than its neighbour China. In 2018, India saw more than $38 billion of inbound deals compared with China’s $32 billion.
- India’s foreign direct investment (FDI) was the highest ever with 235 deals amounting to $37.76 billion this calendar year, according to data from Dealogic, a global M&A and capital markets data provider, beating China, which has historically been the favourite for emerging market bets. China’s trade standoff with the US is seen as a major reason for the slowdown.
RBI extends enhanced single borrower limit facility for NBFCs till March 31
The Reserve Bank of India (RBI) extended the enhanced single borrower limit facility for NBFC sector by another 3 months to provide much needed liquidity support. This facility was valid till December 31, 2018.
- In order to further facilitate banks to lend to Non-Banking Finance Companies (NBFCs) and Housing Finance Companies (HFCs), it has been decided to extend the aforesaid facilities up to March 31, 2019.
- A bank can give loans to the extent of 15 per cent of its capital fund to a particular non-banking finance company (NBFC) or Housing Finance Company (HFC).
The move will help provide liquidity to NBFCs, which have come under pressure following series of default by Infrastructure Leasing & Financial Services Limited (IL&FS) group companies.
SPORTS
Luka Modric named Balkan athlete of the year 2018
Croatia captain Luka Modric was named Balkan Athlete of the Year becoming only the second soccer player to scoop the prize after Bulgaria's former European Footballer of the Year Hristo Stoichkov in 1994.
- The 33-year-old, who received 75 points in the 46th poll, organised by Bulgarian News Agency (BTA), beat Serbia's world number one tennis player Novak Djokovic, who topped the annual poll five times in a row between 2011 and 2015.
- Another tennis player, Romania's Simona Halep, who finished the year as women's world number one for the second consecutive season, came third in the poll.
AWARDS/RECOGNITION
Barack Obama named America's most admired man for 11th year in a row
Former President Barack Obama has been voted the man most admired by Americans. It is the 11th consecutive year he was at the top of the list, including one year as president-elect, eight as president and two as former president. President Donald Trump ranks second for the fourth year in a row.
- Former first lady Michelle Obama was voted the woman most admired by Americans. It's the first time in 17 years, a woman other than Hillary Clinton was at the top of the list.
Indian-American teenager wins Cornell University hackathon
An Indian-American teenager has won the inaugural "Digital Transformation Hackathon" at Cornell University for designing a device to detect the actual pain level of a patient during a diagnosis.
- The device designed by 17-year-old Mahum Siddiqi and her team uses neurological activity occurring in one's brain to help doctors more efficiently determine someone's pain levels.
OBITUARIES
Former Nigerian President Shagari passed away at 93
Former Nigerian President Shehu Shagari passed away in the country's capital city of Abuja at the age of 93. He served seven times in a ministerial or cabinet post as a federal minister and federal commissioner from 1958-1975 before he was elected president in 1979.
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