Daily Current Affairs 12th April, 2018

Daily Current Affairs 12 April 2018 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

Centre Releases Rs. 23,147 Crore under MGNREGS

In the 2nd week of the current Financial Year, Ministry of Rural Development has already released Rs. 23,147 crore to various States/UTs under Mahatma Gandhi National Rural Employment Guarantee Scheme. The funds, besides clearing all wage and payment liabilities of previous year, will also ensure smooth implementation of the scheme in the coming months of FY 2018-19.

PM Modi inaugurates 16th International Energy Forum Ministerial Meeting

Prime Minister Narendra Modi inaugurated 16th International Energy Forum Ministerial Meeting in New Delhi. It is the largest gathering of Ministers from energy consuming, producing and transit countries.

• Hosted by India and co-hosted by China and Korea, the meeting aims to focus on how global shifts, transition policies and new technologies influence market stability and future investment in the energy sector.

World’s largest solar park to come up in Gujarat

Gujarat Chief Minister Vijay Rupani approved setting up a 5,000 MW capacity solar park at the Dholera Special Investment Region (SIR), which would be the largest such entity in the world after its completion.

• The proposed solar power generation project would be set up in 11,000 hectares of land with an investment of Rs 25,000 crore.

Railways installs more than 1 lakh bio-toilets till March 2018

Indian Railways has installed more than one lakh bio-toilets in trains till March this year.

• A statement from the Railway Ministry said, with one lakh twenty-five thousand such toilets being installed, it has now covered about 60 per cent of coaching fleet of the railways.
• Under the bio-toilet project, the railway has been improving cleanliness and hygiene at platforms besides facilitating track and coaches maintenance staff to perform their work more efficiently.

HRD Ministry sets up committee to reduce the fear of maths amongst students

Human Resource Development Ministry constituted the committee under the Chairmanship of Gujarat Education Minister Shri Bhupendrasinh Chudasama to suggest the ways to make the maths subject easy. This decision was taken on the basis of National Assessment Survey to eliminate the fear of maths among the students. Also, eminent educationists and senior officials will be the part of this committee.

AAI to develop Myanmar’s Kalay Airport

The Airports Authority of India (AAI) has signed an agreement with the Ministry of External Affairs, for preparation of a Detailed Project Report (DPR) on the first phase for development of the Kalay Airport as a green airport in Myanmar.

NHAI signs agreement for its First International Project

To provide seamless vehicular movement for enhancing trade, business, health, education and tourism between Indian, Myanmar and Thailand, the National Highways Authority of India has signed an agreement for upgradation of Yagyi – Kalewa section of highway (Milepost 40/0 to Milepost 115/5) in Myanmar to two lane with earthen shoulder.

10th DefExpo India Begins in Tamil Nadu

The tenth edition of a biennial exhibition of weapons and military hardware – DefExpo India- 2018 has begun at Kancheepuram in Tamil Nadu.

• Indigenously developed military helicopters, aircraft, missiles and rockets, capabilities to manufacture submarines, frigates and corvettes would be showcased at the event.

ISRO successfully launches ‘replacement’ navigation satellite

Indian Space Research Organisation (ISRO) successfully launched the Indian Regional Navigation Satellite System-1I or IRNSS-1I from Satish Dhawan Space Centre on Sriharikota Island.

• The satellite was launched with PSLV-C41 rocket at 0404 hrs.
• The IRNSS-1I will replace the IRNSS-1A which was rendered ineffective as the onboard atomic clocks had failed.
• The satellite is part of the constellation of seven NavIC navigation satellite.
• The purpose of these IRNSS satellites is to create India’s own navigation system which would be in the lines of US’ GPS or Global Positioning System.

India ranks 130 in Index of Economic Freedom

India has jumped 13 places in the last one year to be earn 130th spot in the latest annual Index of Economic Freedom released by a top American think-tank.

• In 2017, India with a score of 52.6 points was ranked at 143 among 180 countries, two spots below neighbour Pakistan, according to the Index of Economic Freedom.

INTERNATIONAL NEWS

Bangladesh ends reservation in Government Jobs after furious protests

Bangladesh Prime Minister Minister Sheikh Hasina announced she will be abolishing the quota system for government jobs. The decision is being viewed as a victory for tens of thousands of students and job-seekers who came out in protest against the reservation policy for special groups.

India Signs MoU With World EXPO 2020 Dubai

India and World Expo 2020 signed participants contract for India’s pavilion in the prestigious World Expo 2020 held once in 5 years.

• The contract provides for the setting up of India pavilion at Expo 2020 on an extra large plot (about one acre) in the ‘Opportunity’ segment.

BANKING & FINANCE

RBI slaps Rs.3 Cr monetary penalty on IDBI bank

The Reserve Bank of India (RBI) imposed monetary penalty worth Rs. 3 crore on IDBI Bank for not complying with the outlined norms related to reporting of bad loans.

• The penalty was imposed on account of non-compliance with the directions issued on Income Recognition and Asset Classification (IRAC) norms.

AIIB to invest USD 140M to improve rural connectivity in Madhya Pradesh

USD 140 million loan was approved by the Board of Directors of the Asian Infrastructure Investment Bank (AIIB) through which approximately 1.5 million rural residents in Madhya Pradesh will directly benefit from improved livelihoods, education and mobility.

• The project, co-financed with the World Bank, aims to improve the rural road connectivity and management for residents of about 5,640 villages who use the rural roads for daily activities.

ECONOMY

India to grow by 7.3% in FY’18, 7.6% in FY’19: ADB

The Asian Development Bank (ADB) noted that the Indian economy is set to expand by 7.3% in fiscal year (FY) 2018 and 7.6% in the next fiscal, aided by various growth-oriented policy measures.

• The Bank, in its Asian Development Outlook (ADO) 2018 report, noted that the dip in growth to 6.6 percent in FY2017 was driven in part by lingering effects of demonetisation, which impacted the informal sector in the first half of the fiscal.

BUSINESS

UC Browser launches India’s first women-only mobile news channel

UC Browser has launched India’s first women-only news channel where they aim to show women related content, based on relationships, education, health, fashion and lifestyle.

• UC Browser has also kicked off a campaign to select 20 Sheros or real-life female heroes of India with an aim to publish their inspirational stories on its platform.

SPORTS

Shuttler Srikanth scripts history, secures top spot in BWF rankings

Ace Indian shuttler Kidambi Srikanth became World number 1 in men’s singles category after Badminton World Federation updated its weekly rankings. He overtook World Champion Danish Viktor Axelsen at the top of rankings with 76,895 points.

• Srikanth, who replaced the mighty Dane, became only the first male player from India in the modern era of BWF Rankings and third overall to achieve this exceptional feat after the legendary Prakash Padukone achieved the feat before the modern ranking was introduced.

Virat Kohli, Mithali Raj named Wisden’s Cricketers of the Year

Both Indian captains of men and women’s cricket team, Virat Kohli and Mithali Raj were named among Wisden’s leading cricketers of the year.

• Kohli was named leading male cricketer for the second successive year.
• Mithali Raj, who led India to the final of ‘Women’s World Cup’ and emerged as the all-time leading run-scorer in women’s ODI, was named standout female cricketer of the year.

APPOINTMENTS

Former DoPT Secretary Bhanu Pratap Sharma appointed chairman of Bank Board Bureau

The government appointed former DoPT Secretary Bhanu Pratap Sharma as Chairman of the Banks Board Bureau (BBB).

• He replaces Vinod Rai, who was appointed as the first chairnman of BBB for a two year term.

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