Daily Current Affairs 16th January, 2018

Daily Current Affairs 16 January 2018 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

PM Modi lays foundation stone of Rs 43,000 cr Barmer refinery project

Prime Minister Narendra Modi laid the foundation stone of the Rs 43,129 crore big-ticket refinery project in Barmer and said it will change the economic landscape of Rajasthan.

• The refinery, a joint venture between Hindustan Petroleum Corporation Limited and Rajasthan government, will have the capacity to refine 90 lakh crude oil annually.
• Due to be completed by 2022, the project is expected to bring Rs 34,000 crore to the state government coffers annually.
• The foundation stone laying ceremony had been performed four years ago by then Congress president Sonia Gandhi.

Digital launch of ‘I4Fund call for proposal’ website at India-Israel Business Summit

The ‘I4Fund Call for Proposal’ was announced with the joint launch of the website and the unveiling of the brochure by the two PMs (Narendra Modi and Benjamin Netanyahu). The “India-Israel Industrial R&D and Technological Innovation Fund (I4F)” was announced in July, 2017.

• Under this, the Department of Science and Technology, India and the National Innovation Authority of Israel have established a 40 million US dollar Fund.

Haryana to set up NBFC for efficient management of funds

The Haryana government has decided to form a non-banking financial company (NBFC) — Haryana State Financial Services Limited — to act as an in-house treasury manager for efficient management of surplus funds of State public enterprises and autonomous bodies.

• The NBFC would enable quick and hassle-free lending and create financial discipline among the State government entities.
• It will be established as a limited company under the Companies Act and registered with the Reserve Bank of India (RBI) as an NBFC.
• The authorised capital of the company will be ₹10 crore and the paid up capital will be ₹2 crore in the first instance.

INTERNATIONAL NEWS

India attends its first SCO military cooperation meeting

India, for the first time, took part in a meeting of the international military cooperation departments of the Shanghai Cooperation Organisation (SCO) in Beijing, China, since joining the bloc last year.

• This is the first meeting attended by India in the field of defence cooperation under the SCO framework.
• The SCO comprises of China, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Uzbekistan, India and Pakistan.

BANKING & FINANCE

Bank of Baroda partners with Invoicemart as a TReDS partner

Digital invoice discounting marketplace – Invoicemart has tied up with state-run lender Bank of Baroda to discount invoices for MSMEs. Buyers and sellers registered on the marketplace will now be able to access funding from Bank of Baroda.

• Invoicemart is a joint venture between Axis Bank Ltd and mjunction services ltd.
• TReDS is an online mechanism that helps MSMEs unlock working capital without the hassle of applying for loans.

SPORTS

Rajyavardhan Rathore launches ‘Khelo India’ Anthem

The union sports ministry’s ambitious programme, ‘Khelo India’ — an initiative to scout for talent at the grassroots and provide it substantial long-term scholarship – will be launched on January 31.

• In the run-up to the launch, Union Sports Minister Rajyavardhan Singh Rathore unveiled the mascots (Vijay the tiger and Jaya the black buck) and launched the anthem “Aur khelna chahte hain hum…Khel mein hi masti hai….khel se abaad honge hum”.

APPOINTMENTS & RESIGNS

Vice Admiral AB Singh assumes charge as new Chief of Staff

Vice Admiral Ajendra Bahadur Singh took over as the new Chief of Staff, Western Naval Command from Vice Admiral Ravneet Singh.

• Vice Admiral Singh was the Deputy Commander-in-Chief, Strategic Forces Command, prior to his current appointment.

Romanian PM Mihai Tudose resigns

Romanian Prime Minister Mihai Tudose has resigned after his party withdrew its support amid a power struggle with the group’s chairman, who himself, is barred from political office because of a vote-rigging conviction.

OBITUARIES

Veteran film cinematographer W.B. Rao passes away

Veteran cinematographer W. B. Rao, who worked on films like “Hum”, “Khuda Gawah” and “Rangeela” has passed away.

Veteran journalist NK Trikha passes away

Veteran journalist NK Trikha has passed away. Trikha had worked at the Times of India Group’s Hindi newspaper ‘Navbharat Times’ for a long time and was also the editor of its Lucknow edition.

• He also served as a member of the Press Council of India and he was twice president of the National Union of Journalists (India).

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