Current Affairs Current Affairs July 2018

  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

     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

      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)

     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) 

     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

     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

     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

      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

     Jammu & Kashmir's first all-women branch of Jammu and Kashmir Bank was inaugurated. First Lady Usha Vohra e-inaugurated the first 'All-Women Branch of Jammu and Kashmir Bank' at a function organised at the Sher-i-Kashmir International Convention Centre (SKICC). The total staff strength of the bank is 13. Ms Vohra also launched special services and products designed exclusively for women clients of the bank, which included Pink Gold Saving Scheme, Pink Platinum Saving Scheme, Special Loan Facility for Women Entrepreneurs, Pink Gold Debit Card and Pink Platinum Credit Card. 
    Source- NDTV News

     Jana Small Finance Bank announced the commercial launch of its banking operations, the last microfinance company to convert itself into a small finance bank (SFB), three years after the Reserve Bank of India (RBI) gave its in-principle approval. The small finance bank was earlier called Janalakshmi Financial Services and weathered huge losses on account of demonetization. 
    Source- The Livemint


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