Current Affairs Today – January, 12th, 2018 | Latest News and Updates

INDIAN AFFAIRS

Andhra CM declares 2018 as Telugu promotion year

  1. Andhra Pradesh Chief Minister N. Chandrababu Naidu on Monday it is announced that as the 2018 as Telugu promotion year.
  2. This announcement has been done on the honor of the 29th edition of Annual Book Exhibition of Vijayawada. Vice President M Venkaiah Naidu and the Chief Minister has started the fest, which will be open until January 11 at Swaraj Maidan.
  3. “We can preserve our culture and tradition through language only. We have to prevent the deterioration of Telugu language. I declare this year as Telugu language development year”, Naidu said.
  4. He also told that the Vijayawada which will be the center of the Telugu magazines, newspapers, and literary publications. Naidu has also said that the Vice President Venkaiah Naidu-run NGO Swarna Bharat Trust’s role in promoting books and literature.
  5. The annual book festival is the startup of the Vijayawada Book Festival Society and is being supported this year by Andhra Pradesh government and NTR trust.

 

Nitish Kumar lays foundation stone for Rs 700 crore project ‘Vikas Samiksha Yatra’

  1. Bihar Chief Minister Nitish Kumar on Wednesday has set the eve the foundation stones for more than 100 projects worth Rs 700 crore in Nalanda district as part of his statewide “Vikas Samiksha Yatra”.
  2. At Chamera village in Ekangarsarai block, the Kumar dedicated to the public about the 132 projects worth Rs 97.63 crore and also about the 114, worth Rs 698.65 crore, for which foundation stones were laid, an official release said.
  3. At the time of the event the CM said that the, the chief minister spoke about various development schemes run by his government in addition to social reform measures like ban on alcohol and campaigns against dowry and child marriage.
  4. Kumar also said that agriculture in the state was likely to receive a major boost as part of his government’s “third roadmap” for the period 2017-22, which was recently launched by President Ramnath Kovind.

 

 

INTERNATIONAL AFFAIRS

World Bank Projects India’s Growth Rate at 7.3% in 2018

  1. India’s growth rate in the recent year that is the 2018 is projected to hit 7.3 per cent and it is expected that, it will be the 7.5 per cent in the next two years, according to the World Bank, that has said the country has “enormous growth potential” compared to other emerging economies with the implementation of comprehensive reforms.
  2. There has the estimation of the growth of the India that is the 6.7 per cent in 2017 despite initial setbacks from demonetisation and the Goods and Services Tax (GST), according to the 2018 Global Economics Prospect released by the World Bank here yesterday.
  3. China has growth the 6.8 per cent in 2017, 0.1 per cent more than that of India, while in the recent year that is the 2018, its growth rate is projected at 6.4 per cent. And in the next two years, the country’s growth rate will drop marginally to 6.3 and 6.2 per cent, respectively.
  4. Decreasing the number of the youth unemployment is critical, and pushing for private investment, where problems are already well-known like bank assets quality issues…If these are done, India can reach its potential easily and exceed, Kose asserted.

KEYS:

  1. The World Bank is an international financial institution that provides loans to countries of the world for capital programs
  2. President: Jim Yong Kim
  3. CEO: Kristalina Georgieva (2 Jan 2017–)
  4. Headquarters: Washington, D.C., United States
  5. Subsidiaries: International Finance Corporation, MORE
  6. VPs: Antonella Bassani (Budget, Performance Review, Strategic Planning), MORE
  7. Parent organization: United Nations

 

Dilip Asbe Appointed MD & CEO of NPCI

  1. Dilip Asbe, chief operating officer of the National Payments Corporation of India (NPCI), has been given the post of its own company that is the the post of the managing director (MD) and chief executive officer (CEO), replacing A.P.Hota, who had retired in August.
  2. Hota, who was the first MD and CEO of NPCI, has joined the office in August in the year 2010. After his retirement, NPCI appointed Asbe as the CEO in-charge. Asbe has been lead the foundation of the digital payment systems such as the unified payments interface (UPI) since NPCI was set up in 2009.
  3. NPCI, which is an umbrella organisation overseeing retail payments and settlement systems in India, is the startup of the of the Reserve Bank of India (RBI) and Indian Banks’ Association (IBA), created to help build a strong payment infrastructure. Its 10 core promoter banks are State Bank of India, Punjab National Bank, Canara Bank, Bank of Baroda, Union Bank of India, Bank of India, ICICI Bank Ltd, HDFC Bank Ltd, Citibank N.A. and HSBC Holdings Plc.
  4. In the last year that is the 2017, there has the expectation that the shreholder of the 56 member banks. The NPCI CEO’s role is influential in India’s ongoing push to expand digital payments.

BANKING AND FINANCE

Cabinet Approves Amendments in FDI Policy, Policies Further Liberalized

  1. In big bang FDI reforms that is, forward at the government today has given the permission to the foreign airlines to invest up to 49 per cent in debt-ridden Air India, and that is on the basis of the investment in single brand retail, construction and power exchanges.
  2. The government has also given the relaxation to the` foreign direct investment (FDI) policy for medical devices and audit firms associated with companies receiving overseas funds.
  3. The Union Cabinet headed by Prime Minister Narendra Modi here has taken this decision of the investment and the event.
  4. In the term of the boost to foreign retailers like Ikea, the government approved 100 per cent FDI under the automatic route for single brand retail trading. Earlier also 100 per cent FDI was allowed in the segment, but it required government approval.

 

Flipkart’s PhonePe Inks Pact with FreeCharge

  1. Flipkart’s payments arm PhonePe on Tuesday has announced that it has did the partnership with the mobile wallet company FreeCharge to allow the latter’s customers pay for transactions at PhonePe’s partner merchants. By the term of the agreement that has signed, PhonePe has now enabled its over 45 million users to link their existing FreeCharge wallets to the PhonePe app.
  2. There will be the linked, PhonePe customers will be able to spend their FreeCharge wallet balance at all online and offline merchant outlets that accept payments via PhonePe, it added.
  3. “This the the aim of our to make the cutomer as the PhonePe India’s first truly open payments platform, where customers can use any and all payment instruments of their choice,” PhonePe Head Banking Products and Strategic Partnerships Hemant Gala said.
  4. As part of the partnership, FreeCharge customers will be able to recharge and pay bills as well as make payments for over 60,000 online and offline merchants, including MakeMyTrip, PVR, Cleartrip, 1mg, FreshMenu, Cafe Coffee Day, Apollo Pharmacy, KFC, Barista, Spencer’s and FoodWorld.

KEYS:

  1. Flipkart is an electronic commerce company headquartered in Bengaluru, India
  2. It was founded in October 2007 by Sachin Bansal and Binny Bansal
  3. Customer service: 1800 208 9898
  4. Founded: October 2007
  5. CEO: Kalyan Krishnamurthy (Jan 2017–)
  6. Headquarters: Bengaluru
  7. Subsidiaries: Myntra, PhonePe, MORE
  8. Founders: Binny Bansal, Sachin Bansal

 

 

PNB Ties up with NSFDC for Assisting SC Families

  1. Punjab National Bank (PNB) and National Scheduled Castes Finance and Development Corporation (NSFDC) has did the partnership with the financial assistance for economic empowerment of persons belonging to Scheduled Caste (SC) families living below Double Poverty Line (DPL).
  2. A Memorandum of Agreement tof this project has signed by B.M.Padha, Corporate General Manager , Priority Sector & Financial Inclusion Division, PNB and Devanand, General Manager, NSFDC.
  3. Under this tie-up, PNB would act as a channelising agent for the loan schemes of NSFDC. Concessional finance and skill training grants would be provided to unemployed SC persons living below Double Poverty Line, according to a PNB release.

Science and Technology

Paytm Launches Investment Arm, to Invest $10 million

  1. Paytm, is get in the act by One97 Communications Ltd, that has established the on of the new company that is the Paytm Money Ltd that will offer investment and wealth management products and will invest close to $10 million upfront in the new entity.
  2. Paytm Money is the fourth entity of the One97’s stable after Paytm Mall, Paytm Payments Bank and Paytm wallet; it will be available as a separate mobile application to users, said Vijay Shekhar Sharma, founder of One97 Communications.
  3. Paytm can make the end with the creation of the money market fund in the long term just like Ant Financial in China, said Sharma. Alibaba’s four-year-old Yu’e Bao Fund is one of the biggest money market funds in the world.
  4. Paytm, has created the payment bank, could make money through the deposits customers keep in their wealth management accounts.

SPORTS

Aditya Mehta Wins Kolkata Open 2018 International Invitation Snooker Championship

  1. Asian Games medalist Aditya Mehta has get uplift by down the English pro Alfie Burden 5-4 in a thrilling final and has get the Kolkata Open International Invitation Snooker Championship on Monday.
  2. Mehta has started the career with the open of the 93 in opening frame but Burden countered him with break of 75 to come at par.
  3. He has won the one of the title of the 2-1 lead over Mehta who levelled the match once again. Alfie then took handsome lead of 4-2.
  4. In that he has tried three times to go for the maximum 147. In the first frame he missed on 65, which Laxman cleared with 70 points break and then on 81 and finally in the sixth frame, which was close, on 97.

 

IMPORTANT DAYS

National Youth Day

  1. National Youth Day is celebrated in India on every 12 January on the birthday of Swami Vivekananda. In the year 1984 the Government of India has declared the day as the National Youth Day and since that year the event is celebrated in India every year.
  2. The National Youth Day is celebrated in all the schools in the and colleges, with processions, speeches, recitations, music, youth conventions, seminars, Yogasanas, presentations, competitions in essay-writing, recitations and sports on 12 January every year.
  3. Swami Vivekananda’s lectures and writings, deriving their inspiration from Indian spiritual tradition and the broad outlook of his Master Sri Ramakrishna Paramahansa, are the source of inspiration and have motivated numerous youth organizations, study circles and service projects involving the youth.

Sandeep Kumar

Hi Guys, I am Sandeep Co-founder of IASpaper and UPSCToday Staying in Mumbai (India) and pursuing graduation in Computer Science and Engineering from Mumbai University. I love helping Aspirants. You may join me on Facebook

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