NATIONAL NEWS
Saudi Crown Prince arrives in New Delhi
Crown Prince of Saudi Arabia Mohammed bin Salman bin Abdulaziz Al Saud arrives in New Delhi on a two-day visit. The Crown Prince will be accorded ceremonial reception. He will hold talks with Prime Minister Narendra Modi on a wide range of issues of mutual interest. During his stay, the Crown Prince will call on President Ram Nath Kovind and Vice President M Venkaiah Naidu.
- The bilateral trade was 27.48 billion dollars during the last financial year 2017-18, making Saudi Arabia the 4th largest trading partner.
- Extra info.:
Saudi Arabia Capital: Riyadh
Currency: Saudi riyal
110 feet-tall national flag hoisted at Raipur rail station
A 110-feet National Flag was hoisted at Raipur railway station in Chhattisgarh as a tribute to 40 soldiers martyred in last week's terror attack at Pulwama in Jammu and Kashmir. The ceremony was attended by Raipur MP and Bharatiya Janata Party (BJP) leader Ramesh Bias along with party cadres.
- On August 15 when India celebrated 72nd Independence day, a 1,100-feet tri-colour was unfurled at Surat in Gujarat.
Emergency Response Support System to be launched for women safety
Home Minister Rajnath Singh will launch Emergency Response Support System (ERSS) in 16 states and Union territories for women safety from New Delhi. The states include Andhra Pradesh, Uttarakhand, Punjab, Kerala, Madhya Pradesh, Rajasthan, Uttar Pradesh, Tamil Nadu, Gujarat and Jammu and Kashmir.
- Persons in distress can dial a pan-India number : 112. Under this system, all the states have to set up a dedicated Emergency Response Centre (ERC). A citizen may Press power button on a smart phone thrice quickly to activate a panic call to ERC.
- The Central Government is funding over 321 crore rupees to the States and UTs for ERSS as part of Nirbhaya scheme project. The service has already been launched in Himachal Pradesh and Nagaland.
Infosys unveils a learning app ‘InfyTQ’ for engineering students
The country’s second-largest IT services firm Infosys announced the launch of ‘InfyTQ’, a digital platform to offer learning and engagement experiences to engineering students in the country. With InfyTQ, students will benefit from the always-on, anytime, anywhere learning, catered through a continuous transfer of digital skills and expertise from the Infosys innovation ecosystem.
- InfyTQ is a free platform open to all engineering students in their third and fourth years across India. The platform encourages holistic development by imparting technical as well as professional skills, helping them become industry-ready.
Banned Punjabi poem on Jallianwala massacre to be published in English after 99 years
A poem on the Jallianwala Bagh massacre by acclaimed Punjabi writer Nanak Singh, which was banned by the British after its publication in 1920, has now been translated into English. Singh was present at Jallianwala Bagh on April 13, 1919. He was 22 years old at the time.
- It will be published by Harper Collins India next month to mark the centenary of the Jallianwala Bagh massacre. Singh is widely regarded as the father of the Punjabi novel. With little formal education beyond the fourth grade, he wrote an astounding 59 books and received the Sahitya Akademi Award in 1962.
INTERNATIONAL NEWS
Argentina becomes 72nd country to sign solar agreement
Argentina became the 72nd country to sign the Framework Agreement of the International Solar Alliance (ISA). The agreement was inked on the sidelines of the official three-day visit of Argentinian President Mauricio Macri to India by Argentina's Foreign Minister Jorge Faurie in the presence of ISA's Director-General Upendra Tripathy.
- The International Solar Alliance (ISA) is a group of 121 solar resource-rich countries with headquarters in Gurugram, India.
- Extra info.:
Argentina Capital: Buenos Aires
Currency: Peso
BANKING & FINANCE
RBI withdraws 20% limit on investments by FPIs in corporate bonds
The Reserve Bank of India (RBI) withdrew the 20 per cent limit on investments by FPIs in corporate bonds of an entity with a view to encourage more foreign investments. As part of the review of the FPI investment in corporate debt undertaken in April 2018, it was stipulated that no FPI should have an exposure of more than 20 per cent of its corporate bond portfolio to a single corporate (including exposure to entities related to the corporate).
- The RBI said the directions in this regard have been issued the Foreign Exchange Management Act.
BUSINESS & ECONOMY
NPA under Mudra Yojana stands at Rs 7,277 crore
The government informed Parliament that loans worth Rs 7,277.31 crore of public sector banks under Pradhan Mantri Mudra Yojana (PMMY) have turned bad at the end of March 2018. Loans extended under PMMY from inception of the scheme up to March 2018 by all member lending institutions (MLIs) were Rs 5.71 lakh crore, Minister of State for Finance Shiv Pratap Shukla said.
- Loans under PMMY can be covered under Credit Guarantee Fund for Micro Units (CGFMU). CGFMU has been formed with the purpose of guaranteeing payment against default in micro loans up to Rs 10 lakh extended to eligible borrowers by the MLIs.
J P Morgan Became First US Bank With Cryptocurrency
US investment bank JP Morgan has created a crypto-currency to help settle payments between clients in its wholesale payments business. JPM Coin is the first digital currency to be backed by a major US bank.
- The crypto-currency, which runs on blockchain technology, has been used successfully to move money between the bank and a client account.
- Extra info.:
J P Morgan Headquarters: New York, United States
Singapore-based BIGO announces $100 mn investment in India
Singapore-based social media platform BIGO Technology announced an investment of over $100 million to expand its business in India in the next three years, creating nearly 1,000 jobs. BIGO Technology is one of the major companies globally in the field of app development and publishing of apps.
- In addition to the India Centre, BIGO would open two more regional research centres - one in the US and another one in Middle East & North Africa (MENA)-Europe region by the end of this year.
RBI to pay Rs 28,000 crore as interim dividend to government
The Reserve Bank will pay an interim dividend of Rs 28,000 crore to the government, a move that will help the Centre keep fiscal deficit in check. The announcement came after the bank's Central Board meeting, which was addressed by Finance Minister Arun Jaitley.
- This is the second successive year when the Reserve Bank of India (RBI) will be transferring an interim surplus. This is in addition to Rs 50,000 crore surplus transfer announced by RBI in August 2018 for 2017-18 (RBI follows July-June financial year). Of this, Rs 10,000 crore was given as interim dividend to the government on March 27, 2018.
Premji unveils Wipro-Kawasaki plant near Bengaluru
IT czar and Wipro Chairman Azim Premji unveiled the new plant of Wipro-Kawasaki joint venture to manufacture hydraulic pumps and motors for the construction machinery at Bidadi, about 40 km from Bengaluru. The six-year-old Indo-Japanese venture is focused on meeting the rising demand for hydraulic excavators from its second plant and also its first plant in the city.
- The move reflects Kawasaki's commitment to meet the demand for hydraulic equipment from local construction machinery manufacturers and generate new demand.
AWARDS
Sunil Chhetri honoured with the first ever Football Ratna award
Sunil Chhetri, the all-time leading scorer for India in international football, says he is always there to help develop the sport in the national capital, where he was brought up. The 34-year-old Padma Shri conferred the first ever Football Ratna honour by Football Delhi, the association governing the sport in the city.
- On the occasion, Football Delhi also honoured Shubham Sarangi, youth player from Delhi who is currently the player of Delhi Dynamos squad for ISL.
OBITUARIES
Best-selling British Author ‘Andrea Levy’ passes away
Author of books like 'Small Island' and 'The Long Song', Andrea Levy passed away from cancer at the age of 62. Her novel 'Small Island', which told the story of Jamaican migrants in Britain, made Levy a famous name. Her other works include 'Never Far From Nowhere,' 'Fruit Of The Lemon' and 'Every Light In The House Burnin.'
- Levy's last novel, 'The Long Song,' was published in 2010 and was shortlisted for the Man Booker prize.
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