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Current Affairs October 8 2018

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Current Affairs October 8 2018

 INDIAN AFFAIRS

Russian President Vladimir Putin’s 2-day visit to India 2018
On October 4, 2018, Russian President Vladimir Putin reached New Delhi commencing his on two-day visit to India. He was received by External Affairs Minister Sushma Swaraj.

Visit Highlights:

  • The Russian President attended the 19th India-Russia Annual Bilateral Summit 2018 in New Delhi.
  • India and Russia signed their biggest defence deal in over two decades for Five S-400 air defence systems with worth $5.43 billion ( Rs. 39,000 crore), surface-to-air missile systems but they have to deal with the challenge of transferring the $5.43 billion for the contract in the face of financial sanctions by the US.
  • 8 MoUs/Agreements Exchanged between India and Russia
  • The 2 countries have also set a target of achieving $30 billion bilateral trade by 2025.
  • Indra 2018, joint India-Russia counter-terrorism exercise, to be held in UP in November….. Click Here to Read More Detail

2-day First Regional Conference on ‘Women in Detention and Access to Justice’ held in Shimla
On October 4, 2018, the Governor of Himachal Pradesh, Shri Acharya Devvrat inaugurated the 2-day First ever Regional Conference on ‘Women in Detention and Access to Justice’ at Shimla, Himachal Pradesh.

2-day First Regional Conference on 'Women in Detention and Access to Justice' held in ShimlaObjective:
To devise strategies and programs for bettering conditions of Women Prisoners and upholding their Fundamental Rights.
Key Points:
i. It was organized by the Bureau of Police Research and Development (BPR&D), Ministry of Home Affairs  in collaboration with Prison Department, Himachal Pradesh.
ii .The 2 days’ Conference had working sessions along with panel discussions on the 06 selected themes. They were:

  • Reproductive Health Rights of Women Prisoners: National and International Legal Norms
  • Health Needs of Women Prisoners
  • Health, Skill, Rehabilitation and Reintegration of Women Inmates and Their Children
  • Prison Reforms, Structural Managerial and Legal Issues with Focus on Women Inmates & Comparison to Global Norms
  • Neuro-Criminology Program for the Offender
  • Transforming Prisons.

iii. The Parliamentary Committee on Empowerment of Women recommended the various strategies on the subjects.
iv. This will further help in better implementation of Prison Reform and Rehabilitation Program.
Himachal Pradesh:
♦  Capital: Shimla.
♦  Chief Minister: Jai Ram Thakur.
♦  Governor: Acharya  Devvrat.
♦  National Parks: Great Himalayan National Park, Pin Valley National Park.

Maharashtra launches website  and app ‘Maha madat’ to analyze drought situation
On October 6 2018, The Maharashtra Government has launched a website and an application ‘Maha Madat’ for collectively analysing the rainfall, crop situation and underground water level using modern technology.
Objective:
The Website and app will help in accurate analysis of drought-like situation in villages of the state.
Key Points
i.The website has been created by the Relief and Rehabilitation Ministry with the help of the Maharashtra Remote Sensing Application Centre (MRSAC).
ii.The Region is declared as Drought based on the two criteria laid down by the Centre in 2016 they are,

  1. Drought can be declared if a region does not receive rain for a span of 21 days.
  2. Drought can be declared based on the humidity of the soil, the situation of crops and the level of groundwater.

iii. After the Launch,the State’s Rehabilitation and Relief Minister Chandrakant Patil said, 201 talukas in the state haven’t received rain for 21 continuous days which satisfies the first Criteria and the Study for the Second Criteria is in the Process and the state will declare the drought affected area soon.
About Maharashtra:
♦ Chief Minister:Devendra Fadnavis
♦ Governor:C.Vidyasagar Rao
Some of the Sanctuaries in Maharashtra:
♦ Bhamragarh Wildlife Sanctuary
♦ Bor Wildlife Sanctuary
♦ Chaprala Wildlife Sanctuary

Rs.10000 p.a worth of Free Electricity To Farmers To Increase Their Income: Rajasthan CM
On October 7, 2018, the Rajasthan government launched a scheme aimed to provide free electricity to farmers of the state having electric connections in general category for specific limit.
Objective:
To increase farmer’s income.
Key Points:
i. According to the scheme, more than 12 lakh farmers of the state will receive free electricity up to Rs 10,000 for a year on their agricultural electricity connection.
ii. As per the scheme, upon successful payment of the bill by farmers, a Direct Benefit transfer (DBT) with maximum of Rs. 833 per month would be deposited to the accounts of the farmers.
iii. It will be effective from November 2018.
iv. Power distribution companies in Jaipur, Ajmer and Jodhpur have been given the orders for the same by the Energy Department.
Other News:
i. The state government claims to have infused Rs 40,000 crore for electricity infrastructure development.
ii. Further, Rs 37,000 crore worth “Eastern Rajasthan Canal Project” (ERCP) is on the works for addressing water-related issues of the region.
iii. The project will provide water for drinking and irrigation purposes to 13 districts in eastern Rajasthan.
Rajasthan:
♦  Capital: Jaipur.
♦  Chief minister: Vasundhara Raje.
♦  Governor: Kalyan Singh.
♦  National Parks: Ranthambore National Park, Sariska National Park, Keoladeo National Park, Kumbhalgarh Wildlife Sanctuary.

Karnataka govt unveils ‘Unnati’ scheme to help entrepreneurs
On October 6 2018, Karnataka state government,unveils the Unnati scheme,which will invest up to Rs 20 crore to create end-to-end support infrastructure for startups and entrepreneurs from a marginalised background.
Objective:
The Objective is to deliver sustainable development and social welfare which will identify, mentor, and promote young entrepreneurs from the SC/ST communities.
KeyPoints:
i.The government, under the scheme, will identify the problems dogging society and solve them by identifying companies, working on products and solutions for related problems.
ii. Karnataka Social Welfare Minister Priyank Kharge said the department will provide up to Rs 50 lakhto winning entrepreneurs to develop tech-based solutions that are innovative, novel and have meaningful social impact.
About Karnataka:
♦ Chief Minister:H.D.Kumaraswamy
♦ Governor:Vajubhai Rudabhai Vala
Some of the Airports in Karnataka:
♦ Kempegowda International Airport
♦ Mangalore International Airport.

Punjab Cabinet approves new sports policy, hikes cash awards
On 19th March 2018, Punjab Cabinet approved increase in cash awards for various games and championships under its new sports policy.
Key Points:
i. Punjab’s sports policy which was implemented in 2010 has been amended. Some of the hikes in cash awards are mentioned below.
ii. In case of Olympics and Paralympics, cash award has been increased to Rs 1.50 crore for silver medal winners and to Rs 1 crore for bronze medal winners.
iii. In Asian and Para Asian Games, cash award has been increased to Rs 1 crore for gold medal winners, to Rs 75 lakh for silver medal winners and to Rs 50 lakh for bronze medal winners.
iv. In world cup/championship, cash prize has been increased to Rs 80 lakh for gold medal, to Rs 55 lakh for silver medal, and to Rs 45 lakh for bronze medal winners.

BANKING & FINANCE

The Electronic Trading Platforms (Reserve Bank) Directions, 2018’ released by RBI
On October 5, 2018, RBI issued norms for operating Electronic Trading Platforms to enable transactions in eligible instruments.

The Electronic Trading Platforms (Reserve Bank) Directions, 2018’ released by RBIThe directions are thus called: ‘The Electronic Trading Platforms (Reserve Bank) Directions, 2018’.
i. As per the norms, ETPs will strictly mean any electronic platform except the stock exchange, where transactions of eligible instruments would take place.
ii. Also for an entity to operate as an ETP, it has to obtain the permission of the RBI beforehand.
iii. Furthermore, an entity seeking authorisation as an ETP operator should possess and maintain a minimum net-worth of Rs 5 crore at all times.
iv. These come into force with effect from October 05, 2018.
Background:
This was included as per the 4th Bi-Monthly Monetary Policy Statement for 2017-18 dated October 4, 2018.
RBI:
♦  Founded: 1st April 1935.
♦  Headquarters: Mumbai.
♦  24th Governor: Dr. Urjit Patel.

IFC extended Rs 1,000 cr 7-year green loan to Aditya Birla Finance
On October 4, 2018, International Finance Corporation, the financial arm of World Bank, approved to a green loan of Rs. 1000 crore to Aditya Birla Finance for a period of years.
i. With the assistance of IFC, the ABFL plans to work on IFCs India Country Strategy for FY17-21.
ii. It would provide:

  • Access of electricity for 60 million people,
  • Creation of 25 GW of installed renewable capacity, and
  • 11 per cent to the total energy-related greenhouse gas avoidance potential.

iii. This would form a part of government of India’s target of 175 GW of renewable energy capacity by 2022.
iv. This green loan is an Indian rupee loan under track III of the Reserve Bank of India’s guidelines for external commercial borrowings.
Background:
The government plans to increase the country’s renewable energy capacity to 175 GW, comprising solar, wind, biomass, and small hydro, by 2022.
Adiya Birla Finance:
♦  It is a NBFC of the Aditya Birla Capital group.
♦  CEO of Aditya Birla Capital: Ajay Srinivasan.

Instant vehicle insurance renewal launched by HDFC Bank
On October 5, 2018, HDFC bank announced the launch of instant vehicle insurance renewal.
i. The renewal can be done through the help of payment options such as SMS, Mobile Banking app, NetBanking, ATM, and PayZapp.
ii. Provision of EMI is also available for the same through SMS, Netbanking or PayZapp.
iii. As the insurance is valid for 1 year, the online option of instant renewal is effective.
HDFC:
♦ Headquarters: Mumbai.
♦ CEO: Aditya Puri.
♦ Tagline: We Understand your world.
♦ Founded: August 1994.

AWARDS & RECOGNITION

Richie Benaud named Sport Australia Hall of Fame Legend
On October 6 2018, Richie Benaud will be posthumously honoured as ‘Legend’ by Sport Australia Hall of Fame.
Richie Benaud named Sport Australia Hall of Fame LegendKey Points:
i. Benaud, a former Australia captain who became one of the most loved voices of cricket after his playing days.
ii. He will be the 40th Legend of Australian Sport and the third cricketer to be bestowed the prestigious annual honour.
iii. It will be made official at the 34th Sport Australia Hall of Fame induction and awards gala dinner in Melbourne on 11 October.
Two Other cricketers who had been inducted as ‘Legends’ are:
♦ Don Bradman (1993)
♦ Keith Miller (2004)

APPOINTMENTS & RESIGNS

Arindam Bagchi appointed India’s Ambassador to Croatia
On 5th October 2018, Arindam Bagchi was appointed the next Indian Ambassador to the Republic of Croatia.
i. Arindam Bagchi is a 1995 batch Indian Foreign Service (IFS) officer. At present, he is India’s Deputy High Commissioner to Sri Lanka in Colombo.
ii. He has been appointed as the next Indian Ambassador to the Republic of Croatia. He will replace Sandeep Kumar. He would take up this assignment soon.