Daily Current Affairs 29th March 2018

National News

 
1. India Successfully Launches GSAT-6A Communication Satellite
i. ISRO successfully launched the GSLV-F08 carrying the GSAT6A communication satellite from Satish Dhawan Space Centre (SDSC) in Sriharikota, Andhra Pradesh. Today’s launch adds another feather in ISRO’s cap as it is mastering the technique of making home-made communication satellites. The GSAT-6A satellite will be put into orbit around 17 minutes after the rocket’s liftoff.

ii. GSLV Mk II (F08) carrying GSAT-6A took off from the second launch pad in Sriharikota. Today’s launch marked its 12th flight of Geosynchronous Satellite Launch Vehicle GSLV-F08 and sixth flight with the indigenous Cryogenic upper stage.
Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • Dr. K Sivan is Chairman of ISRO.
  • ISRO stands for Indian Space Research Organization.
  • Headquarters of ISRO- Bengaluru.

2. Harsimrat Kaur Badal Inaugurates Rajasthan’s First Mega Food Park In Ajmer

i. In Rajasthan, Union Minister for Food Processing Industries Harsimrat Kaur Badal has inaugurated the first mega food park of the state at Roopangarh village near Ajmer. The Food Park is set up at an investment of Rs 113.57 crore and will benefit around 25 thousand farmers in Ajmer and neighboring districts. Center has given the 50 crore rupees subsidy for this project.
ii. The mega food park would attract an additional investment of about Rs. 250 crore in about 30 food processing units in the park and to a turnover of about 500 crore rupees per annum.
Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • Harsimrat Kaur Badal is MP from Bathinda, Punjab.
  • Kalyan Singh is the Governor of Rajasthan.

3. CCEA Approves Continuation Of Credit Guarantee Fund Scheme For Education Loans

i. Cabinet Committee on Economic Affairs (CCEA) has approved the continuation of the Credit Guarantee Fund for Education Loans Scheme and continuation and modification of Central Sector Interest Subsidy Scheme with a financial outlay of 6,600 crore rupees from 2017-18 to 2019-20. The scheme will cover loans for pursuing professional and technical courses to promote quality education.
ii. CEA also approved a proposal to formulate an Integrated Scheme on school education by subsuming Sarva Shiksha Abhiyan, Rashtriya Madhyamik Shiksha Abhiyan and Teacher Education from 1st April 2018 to 31st March 2020. An estimated allocation of 75,000 crore rupees has been approved for this which is a 20 percent increase over the current allocations.
4. Cabinet Approves Rs 4,500 Crore To Boost Development Projects In North-East
i. Cabinet has approved Schemes of North Eastern Council (NEC) including the continuation of existing Schemes. It will boost the development projects in North-East. Four thousand five hundred crore rupees have been approved for the scheme for three years up to March 2020.
ii. The Scheme of NEC- Special Development Project will be changed to be a Central Sector Scheme with 100 percent grant.
 
Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • The Ministry of Development of North Eastern Region is a Government of India ministry, established in September 2001.
  • Jitendra Singh is the Minister of State (MoS)(Independent Charge) for the Ministry of Development of North Eastern Region.
  • North-East India comprises eight states: Arunachal Pradesh, Assam, Manipur, Meghalaya, Mizoram, Nagaland, Sikkim, and Tripura.

5. Niti Aayog Launches Baseline Ranking Of 115 Aspirational Districts

i. The NITI Aayog has launched the baseline ranking for 115 aspirational districts based on 49 indicators across five sectors that include health and nutrition, education, agriculture and water resources, financial inclusion and skill development, and basic infrastructure.
ii. This would be followed by delta ranking of these districts from May 2018 based on their incremental progress.
6. EPFO Launches Portal For Pensioners
i. EPFO has launched the pensioner’s portal through which all EPFO pensioners may get the details of pension-related information. The pensioner’s portal is a recently launched service where details like pension payment order number, payment order details, passbook information and other related information are available.
 
ii. The enhanced “Track eKYC” facility for the convenience of members have also been launched to check the status of Aadhaar seeded against their UAN. The facility has been made available at EPFO’s website http://www.epfindia.gov.in.
Static/Current Takeaways Important for NABARD Grade-A Exam 2018-
  • In EPFO, CEO is known as Central Provident Fund Commissioner.
  • Dr. VP Joy is present Central Provident Fund Commissioner.
  • The Head Office of EPFO is in New Delhi.

 

Economy/Banking/Finance

 
7. RBI Imposes Rs 58.9 Cr Penalty On ICICI Bank
i. The RBI has imposed a monetary penalty of Rs. 58.9 crore on ICICI Bank Limited for non-compliance with the directions issued by the RBI on direct sale of securities from its Held To Maturity (HTM) portfolio and specified disclosure in this regard.
ii. The Central Bank stated this penalty has been imposed in the exercise of powers vested with the RBI under the provisions of the Banking Regulation Act, 1949, taking into account failure of the bank to adhere to its directions/guidelines.
Static/Current Takeaways Important for Railway RRB Exam 2018-
  • ICICI Bank stands for Industrial Credit and Investment Corporation of India.
  • Chanda Kochhar is the MD and CEO of ICICI Bank.
  • Headquarters of ICICI Bank: Mumbai.

8. SEBI Allows Physical Settlement Of Stock Derivatives

i. The stock market regulator Securities & Exchange Board of India (SEBI) has allowed physical settlement of both stock options and stock futures. At present only cash settlement of derivatives is allowed.
ii. SEBI stated stock exchanges will also have the flexibility to offer a combination of cash settlement for stock options and physical settlement for stock or physical settlement for stock options and the cash settlement for stock futures.
Static/Current Takeaways Important for Railway RRB Exam 2018-
  • SEBI was established on 12th April 1992.
  • The Head office of SEBI is in Mumbai.
  • Ajay Tyagi is Chairman of SEBI.

 

9. Govt Allows Export Of 2 Million Tonnes Of Sugar
i. The government has allowed export of two million tonnes of sugar until the end of the 2017-18 marketing year, in order to clear surplus stocks and improve cash flow to millers for making payment to sugarcane farmers.
ii. The government has also allowed export of white sugar till September 2018 under the Duty-Free Import Authorisation (DFIA) scheme, under which exporters are allowed to import sugar at zero duty within three years.
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