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10th edition of Delhi Dialogue held in New Delhi

 The 10th edition of Delhi Dialogue (DD X) was held in New Delhi and was hosted by Union External Affairs Minister Sushma Swaraj. The theme for this edition was “Strengthening India-ASEAN Maritime Cooperation”. This was the first major event organised after ASEAN-India Commemorative Summit, which was held in New Delhi in January 2018. DD X was organised by Ministry of External Affairs (MEA) in partnership with the Research and Information System for Developing Countries (RIS). It saw participation of political leadership, policy makers, senior officials, diplomats, business leaders, think-tanks and academicians from India and ASEAN member states. Chief ministers from North-Eastern states were also invited to participate in the event. DD X comprised of six plenary and four parallel sessions, with each session followed by open discussions.
  • Delhi Dialogue
Delhi Dialogue is premier annual event to discuss politico-security, economic and socio-cultural engagement between India and the Association of Southeast Asian Nations (ASEAN). It has been held annually since 2009 and political leaders, policy makers, senior officials, diplomats, think tanks and academicians from both sides participate in the discussions pertaining to ASEAN-India relations. It is aimed at finding a common ground and expanding the scope of cooperation between India and ASEAN nations. The theme of ninth edition of dialogue was “ASEAN-India Relations: Charting the Course for the Next 25 Years”. It had marked the 25th anniversary of ASEAN-India Partnership.
Catgeory: National

Government to infuse Rs 11,336 crore capital in 5 public sector banks by September-end

 Union Finance Ministry is planning to infuse additional capital close to Rs 11,336 crore in 5 more public sector banks (PSBs) by September 2018-end. These five state-owned banks are Punjab National Bank (PNB), Corporation Bank, Andhra Bank, Allahabad Bank and Indian Overseas Bank (IOB).
  • Key Facts
This round of capital infusion will be done through issuance of recapitalisation bonds and not directly from Budget. This additional capital will help these banks to meet minimum regulatory capital adequacy ratio (CAR) and enable them to make interest payments on certain bonds on time. Within capital infusion plan of these five PSBs, PNB is expected to get highest amount of Rs 2,816 crore. Corporation Bank is will get Rs 2,555 crore followed by Indian Overseas Bank (Rs 2157 crore), Andhra Bank (Rs 2,019 crore) and Allahabad Bank (Rs 1,790 crore). This capital infusion by Government will be only for purpose of meeting minimum regulatory requirement and will be not growth capital which will be provided in second half of current fiscal year. The growth capital will only be given to those banks which meet performance targets and modalities set by Finance Ministry as per agreement signed with each bank.
  • Background
The latest round capital infusion in these 5 PSBs will be part of remaining Rs 65,000 crore out of Rs 2.11 lakh crore capital infusion announced by Union Government for two financial years. In October 2017, Union Government had announced Rs 2.11 lakh crore capital infusion programme, under which PSBs were to get Rs 1.35 lakh crore through recapitalisation bonds, and balance Rs 58,000 crore through raising of capital from market and remaining through budgetary support. The government has already infused Rs 80,000 crore out of Rs 1.35 lakh crore through recapitalisation bonds in PSBs  and balance will be done during this financial year (2018-19).
Catgeory: Economy & Banking

RBI To Issue New Design Rs.100 Denomination Banknote

  The Reserve Bank of India will shortly issue Rs100 denomination banknotes in the Mahatma Gandhi (New) Series, bearing the signature of Dr Urjit R. Patel, Governor, Reserve Bank of India. The new denomination has Motif of “RANI KI VAV” on the reverse, depicting the country’s cultural heritage. The base colour of the note is Lavender. The dimension of the banknote will be 66 mm × 142 mm. All the banknotes in the denomination of Rs100/- issued by the Reserve Bank in the earlier series will continue to be legal tender.
Salient Features- 
  • (a) The obverse (Front): 
  • See-through register with denominational numeral 100
  • Guarantee Clause, Governor’s signature with Promise Clause and RBI emblem towards right of Mahatma Gandhi portrait
  • Ashoka Pillar emblem on the right
  • Mahatma Gandhi portrait and electrotype (100) watermarks
  • Number panel with numerals in ascending font on the top left side and bottom right side
  • For visually impaired intaglio or raised printing of Mahatma Gandhi portrait, Ashoka Pillar emblem, raised triangular identification mark with micro-text 100, four angular bleed lines both on the right and left sides
    		•
    • (b) Reverse (Back)
  • Year of printing of the note on the left
  • Swachh Bharat logo with slogan
  • Language panel
  • Motif of RANI KI VAV
    		•
    Source- The RBI
    Catgeory: National

    UNEP Partners With Google For Monitoring Impact Of Human Activity On Ecosystem

     UN Environment Programme (UNEP) has entered into a partnership with search engine giant Google to monitor the impacts of human activity on global ecosystems by using sophisticated online tools. The partnership was launched during a High-Level Political Forum on Sustainable Development at United Nations (UN) headquarters in New York. The aim of the partnership is to develop a platform to enable governments, NGO’s and public to track specific environment-related development targets with user-friendly Google front-end. 
    Source- India Today
    Catgeory: International

    Cabinet Approves Signing Of MoU Amongst BRICS Nations On RAPC

      The Union Cabinet has approved the signing of MoU amongst BRICS Nations on the Regional Aviation Partnership Cooperation (RAPC). The objective is that BRICS countries will benefit from the establishment of an institutional framework to cooperate in the field of civil aviation.  The MoU signifies an important landmark in the civil aviation relations between India and other BRICS Member States and has the potential to spur greater trade, investment, tourism and cultural exchanges amongst the BRICS Nations. 
    Source- Press Information Bureau (PIB)
    Catgeory: Agreements

    Important Cabinet Approvals- 18th July 2018

     The Union Cabinet chaired by Prime Minister Narendra Modi has given the following set of approvals. The important Cabinet Approvals are given as follows-
    The Cabinet has approved-
  • MoU between India and Indonesia on cooperation in the field of pharmaceutical products, pharmaceutical substances, biological product and cosmetics regulatory functions.
  • Mutual Recognition Agreement (MRA) signed in 2010 and approves fresh MRA between the ICAI and the Institute of Certified Public Accountants, Ireland. Background: The Institute of Chartered Accountants of India (ICAI) is a statutory body established by an Act of Parliament of India, The Chartered Accountants Act, 1949', to regulate the profession of Chartered Accountancy in India.
  • MoU between the Institute of Chartered Accountants of India and Bahrain Institute of Banking and Finance, Bahrain.
  • MoU between the Institute of Chartered Accountants of India and "National Board of Accountants and Auditors, Tanzania- The MoU will develop a mutually beneficial relationship in the best interest of ICAI members, students and their organizations.
  • Establishment of Medical College, Salempur at Deoria, Uttar Pradesh.
  • Policy framework for streamlining the working of Production Sharing Contracts (PSCs) in Pre-NELP and NELP Blocks.
  • Continuation of the Schemes of (i) Pre-Matric Scholarship Scheme; (ii) Post Matric Scholarship Scheme; and (iii) Merit-cum-Means based Scholarship Scheme for the students belonging to Minority Communities during 2017-18 to 2019-20.\
  • Special Package for Irrigation Projects in Vidarbha, Marathwada and other chronically drought-prone areas of Rest of Maharashtra.
  • Signing of MoU amongst BRICS Nations on the Regional Aviation Partnership- The objective is that BRICS countries would benefit from the establishment of an institutional framework to cooperate in the field of civil aviation.
  • MoU between India and Cuba on cooperation in the field of Traditional Systems of Medicine and Homeopathy- The MoU will enhance bilateral cooperation between the two countries in the areas of Traditional Systems of Medicine and Homeopathy.
  • Determination of Fair and Remunerative Price payable by Sugar Mills for 2018-19 sugar season- Cabinet has approved the Fair and Remunerative Price (FRP) of sugarcane for sugar season 2018-19 at Rs. 275/- per quintal for a basic recovery rate of 10%; providing a premium of Rs. 2.75/qtl for each 0.1 % increase in recovery over and above 10%. The cost of production of sugarcane for the sugar season 2018-19 is Rs. 155 per quintal.
    		•
    Source- Press Information Bureau (PIB) 
    Catgeory: Agreements

    10th Edition Of Delhi Dialogue Begins In New Delhi

     The 10th edition of the Delhi Dialogue begins in New Delhi. External Affairs Minister Sushma Swaraj delivered the keynote address of the two-day event. The theme of this event is ‘Strengthening India-ASEAN Maritime Co-operation’. Political leadership, policymakers, officials, diplomats, business leaders, think-tanks and academicians from India and ASEAN Member States will participate in the discussions. This is the first major event to be organised after the ASEAN-India Commemorative Summit that was held in New Delhi.
    Source- AIR World Service
    Catgeory: Summits

    Google Fined $5 Billion By EU In Android Antitrust Case

     The European Union regulators have slapped Alphabet-owned Google with a record 4.34 billion euro ($5 billion) antitrust fine for abusing the dominance of its Android mobile operating system. According to the EU, Google's parent company has unfairly favoured its own services by forcing smartphone makers to pre-install Google apps Chrome and Search in a bundle with its app store, Play. 
    Source- The Livemint
    Catgeory: Business

    SBI Organised Kisan Mela To Educate Farmers On Financial Literacy

     Kisan Mela was organized at State Bank of India's rural and semi-urban branches across the country to impart financial literacy to farmers. It is one-of-its-kind initiative to develop connect with farmer customers, resolve their grievances and educate them about their various rights and bank's initiatives. As part of the mela, SBI also plans to offer Kisan Credit Cards to farmers. The bank also made farmers aware of the benefits of timely renewal of KCC account and usage of KCC Rupay Card for transactional convenience. 
    Source- DD News
    Catgeory: Economy & Banking

    Finance Ministry Approves Infusion Of Rs 11,336 Crore In 5 PSBs

      The finance ministry has approved an infusion of Rs 11,336 crore in five state-owned lenders including PNB, Corporation Bank and Andhra Bank to help them meet the regulatory capital requirement. This is the first ever capital infusion in the current fiscal and the remaining amount of Rs 53,664 crore would be disbursed during the course of the year. 
    Which bank will get how much: 
  •  Punjab National Bank: Rs 2,816 crore (Highest Amount), 
  •  Allahabad Bank: Rs 1,790 crore, 
  •  Andhra Bank: Rs 2,019 crore, 
  •  Indian Overseas Bank: Rs 2,157 crore, 
  •  Corporation Bank: Rs 2,555 crore. 
    		•
    Source- The Economic Times
    Catgeory: Economy & Banking

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