Appointments
- K S
Dwivedi is the new DGP of Bihar.
- PNB
appointed A K Pradhan as Group Chief Risk Officer.
- Sudhir
Tripathy is the new Jharkhand Chief Secretary.
Banking
and Economy
1. Indian economy grows 5-quarter high of 7.2% in Oct-Dec quarter:
- In the
third quarter of FY 2017-18, Indian economy grew at 7.2% which
was highest in last 5 quarters.
- With
this India regained the status of fastest growing economy.
- The
economy is expected to grow at 6.6% in the entire financial year ending
this March as per the estimate of Central Statistical Organization (CSO).
The earlier estimate was 6.5%.
- Last
year (FY 2016-17), the economy grew at 7.1%.
- IMF in
its latest update predicted a growth rate of 7.4% for FY 2018-19.
2. Indian economy to grow at 7.6% in 2018-19: Moody’s
- Moody’s
has estimated India’s growth projections to be at 7.6% in 2018 and
7.5% in 2019.
- It
said the Indian economy is starting to recover from the disruptions caused
by demonetization and GST.
- According
to the Economic Survey, the economy is likely to grow at 7-7.5% in
2018-19.
- Last
year, Moody’s Investors Service upgraded India’s sovereign bond rating for
the first time in nearly 14 years.
About Moody’s:
Moody’s is a well known credit rating agency. Along with Standard &
Poor (S&P) and Fitch, it is considered one of the three big credit rating
agencies.
Headquarter- New York,
USA
founded in 1909
3. Core sector grows at 6.7 % in January:
- The eight
core sectors -coal, crude oil, natural gas, refinery products,
fertilisers, steel, cement and electricity
- These
core sectors grew at 6.7% in January as against 4.2% in
December.
- These
sectors constitute around 41% weightage of Index of Industrial Production
(IIP) which reflects health of manufacturing sector.
Note-
- IIP is
released by Central Statistical Office (CSO) every month.
- Base
year- 2011-12
- Components- Mining, Manufacturing (maximum
weightage about 77%), electricity
4. India ranks 47th in Inclusive Internet Index:
- India
is ranked 47th out of 86 countries in Inclusive Internet
Index 2017.
- The
report was published by Facebook’s Economic Intelligence Unit (EIU).
- In
2017, India had ranked 36th.
- Sweden
has topped the chart followed by Singapore and USA.
- Apprximately
8 billion people in the world still don’t have access to internet.
5. EPFO makes online claim mandatory for claims above 10 lakhs:
- Employment
Provident Fund Organization (EPFO) has made it mandatory to file
online claims for provident fund withdrawal above Rs 10
lakhs.
- It has
also made it mandatory to file online claims for withdrawals of
above Rs 5 lakh under the Employees Pension Scheme 1995.
- It is
another step towards digitization and paperless transaction.
- Recently
EPFO launched a new initiative to link UAN to Aadhar through UMANG
app.
About EPFO:
It is one of the largest social security organization of
India formed under Employees' Provident Fund and Miscellaneous
Provisions Act, 1952.
It has more than 6 crore subscribers and manages a corpus of around Rs 10
lakh crore.
It has launched Universal Account Number (UAN) for all
its subscriber for portability across employers.
6. Catholic Syrian Bank ties up with Celebrus:
- The
Catholic Syrian Bank Ltd (CSB) has tied up with Celebrus
Capital Ltd (Celebrus), to offer CSB’s customers online
trading and demat services.
- Now
CSB’s customers will be able to open a Celebrus trading account free of
cost and also enjoy preferred rates on brokerage charges/AMC fees on the
demat account.
- CSB
customers will have access to Celebrus’ mobile trading and investment
platform – LEAP.
What is demat account?
Just like a bank account is used to store your saving of money, similarly
demat account is used to store your financial instruments like shares, bonds,
mutual fund etc. And these are stored in electronic or DEMATerialized form,
hence the name.
AMC fees is the fees charged by Asset Management Companies for your
mutual fund investment.
National
Affairs
1. Continuation of PM's Employment Generation Programme approved for
three more years:
- The
government today approved the continuation of Prime Minister's Employment
Generation Programme (PMEGP).
- It
will be extended beyond the 12th Plan period for three years to
2019-20 with a total outlay of Rs 5,500 crore.
- The
scheme will create sustainable employment opportunities for 15
lakh persons in three financial years.
- The Khadi
and Village Industries Commission (KVIC) is the nodal implementation
agency for the PMEGP at the national level.
What is PMEGP?
It is a credit-linked subsidy programme aimed at
generating self-employment opportunities through establishment
of micro-enterprises in the non-farm sector by
helping traditional artisans and unemployed youth.
2. Cabinet approves Trafficking of Persons Bill:
The
Cabinet approved Trafficking of Persons (Prevention, Protection and
Rehabilitation) Bill, 2018 for introduction in Parliament.
Objective-
to tackle the issue of prevention, rescue and rehabilitation of trafficking
Salient features of the bill:
- To
break the organized nexus, both at the national and international level,
the Bill provides for the attachment and forfeiture of property and
also the proceeds for the crime.
- Time-bound
trial and repatriation of the victims within
a period of one year from taking into cognizance.
- Immediate protection
of rescued victims and their rehabilitation.
- A rehabilitation
fund for the wellbeing of the victims and providing various
legal, medical and financial assistance
- Designated
courts in each district will be established for the speedy trial
of the cases.
- National
Investigation Agency (NIA) will perform the tasks
of Anti-Trafficking Bureau at the national level
- The
punishment ranges from rigorous minimum 10 years to life and
fine not less than 1 lakh rupees.
3. CMFRI to launch e-com portal, mobile app for fishermen:
- The
Central Marine Fisheries Research Institute (CMFRI) has come up with a
website www.marinefishsales.com and
mobile app ‘marinefishsales’.
- It
will help fishermen fetch better price without being
dependent on middlemen.
- Fishermen
willing to sell their product will have to form Self Help Group (SHG) and
register on the platform.
4. 1,28,509 Affordable Houses Sanctioned for Urban Poor under PMAY(urban):
- Ministry
of Housing & Urban Affairs has approved the
construction of 1,28,509 more affordable houses under Pradhan
Mantri Awas Yojana (Urban) with an investment of Rs. 9,364 cr with
central assistance of Rs. 1,928 cr.
- The
projects where sanctioned across 184 cities in the states of Chhattisgarh
(28,029), Haryana (62,451), Uttar Pradesh (36,056) and Puducherry (1973).
Pradhan Mantri Awas Yojna (Urban):
It is under the broad objective of providing housing for all by
2022. It has following componenets:
- Slum
rehabilitation with the partnership of private players
- Credit
linked subsidy for weaker section
- Affordable
housing in partnership with private and public sector
- Subsidy
for individual house construction
5. Civil Aviation Minister inaugurates Aviation Multi Skill Development
Centre:
- Civil
Aviation Minister P Ashok Gajapathi Raju inaugurated a
first of its kind, Aviation Multi Skill Development Centre at the
Chandigarh Old Airport Terminal building.
- It is
set up in collaboration with the National Skill Development Corporation
and supported by the Aerospace and Aviation Sector Skill Council of India.
- Centre
will train about youth in 8 Aviation job roles over the next three years.
6. Haryana approved death penalty for raping minors aged 12 or less:
- The Haryana
Government approved proposal to award death penalty to those
guilty of raping girls aged 12 years or less.
- The minimum
punishment for such crime would be rigorous imprisonment not less
than 14 years which may extend to imprisonment or
person’s natural life.
- A few
months back, Madhya Pradesh had become the first state pass such
law to provide death penalty to those found guilty of raping
minors below 12.
About Haryana:
Capital- Chandigarh
CM- Manohar Lal Khattar
Governor- Kaptan Singh Solanki
National parks- sultanpur, Kalesar
7. 100 new FOBs will be dedicated to Mumbaikars in next 12 months:
- Railways
Minister Piyush Goyal announced that 100 new Foot Over Bridge (FOBs) will
be dedicated for the service of Mumbaikars in next 12 months.
- In a
rare and first of its kind gesture, the three newly constructed Foot Over
Bridges at Elphinstone Road, Currey Road &Ambivali stations built by
Indian Army were dedicated by the Mumbaikars.
Note-
Mumbai Suburban rail is one of the busiest and overcrowded commuter system in
the world. Recently a 48,000 crore overhaul was announced to revive the
service.
Obituary
- Kanchi
Shankaracharya Jayendra Saraswati passed away at the age
of 82. He was the 69th head of Kanchi Kaamakothi Peetham. Sri Sankara
Vijayendra Saraswathi will now become the 70th head of the Math.
Science
and Technology
1. Huawei launches world's first commercialised 5G chip set:
- Huawei
has unveiled its first 5G chip set, which will allow
mobile devices to access 5G speeds.
- The Huawei
Balong 5G01 is the world's first commercialised 5G modem,
allowing users to attain download speeds of around 2.3Gbps.
- It was
unveiled at Mobile World Congress 2018 held in Barcelona,
Spain.
- 5G is
wireless communication technology based on third-generation partnership
project (3GPP).
About Huawei:
A chinese networking and telecom equipment manufacturing company
headquartered in Shenzhen. It is the largest telecom equipment manufacturer in
the world.
2. Successful Flight Test of ATGM NAG:
- The Anti-Tank
Guided Missile (ATGM) Nag was successfully flight-tested in
desert conditions against two tank targets.
- The
third-generation fire-and-forget ATGM has been developed
by the Defence Research and Development Organisation (DRDO).
- Fire-and-forget
missiles do not require further guidance after once launched. They can hit
the target even if the launcher is not in the line of sight.
Sports
Roger Federer wins Sportsman & Comeback of the Year awards at
Laureus:
- Twenty-times
Grand Slam champion Roger Federer has won the 2017
Laureus World Sportsman of the Year and Comeback of the
Year awards.
- The
36-year old Swiss star bagged the honour last night at the 18th
edition of the awards ceremony in Monaco.
- Serena
Williams took home the World Sportswoman of the Year award
after winning her 23rd grand slam in 2017.
- Formula
1 constructors' champions Mercedes picked up the Team of the Year trophy,
while wheelchair athlete Marcel Hug bagged the Sportsperson of the Year
with a Disability.
