Current Affairs Current Affairs September 2018

 The Board of Directors of Vodafone Idea Limited, India's largest telecom operator, approved merger of the Vodafone Idea Limited with the Aditya Birla Telecom Limited (ABTL), the parent company of Idea Cellular. The merger was approved under the relevant provisions of the Companies Act, 2013. The merger is now subjected to approval of the National Company Law Tribunal. The Aditya Birla Telecom Ltd holds 11.15% stake in telecom infrastructure firm Indus Towers Ltd. With this amalgamation, Vodafone Idea will directly have shareholding in Indus Towers and can monetise the stake held by ABTL following simplification in the corporate structure. 
Source- The Economic Times

 Markets regulator SEBI approved a slew of proposals, including a revised framework for settlement of cases and new KYC norms for foreign portfolio investors. The watchdog has approved a proposal to allow foreign investors to trade in commodity derivatives market, except for sensitive commodities, as well as common application form for the registration of FPIs in the domestic market. The board has given its nod for amending delisting regulations. Further, inter-operability of clearing houses for commodities and new methodology to calculate the total expenses ratio for fund managers have been cleared. 
Source- AIR World Service

 Lewis Hamilton won the Singapore Grand Prix at Marina Bay Street Circuit, in Singapore. Mercedes’ Lewis Hamilton won the 1st position. He was followed by Red Bull’s Max Verstappen in the 2nd spot. Ferrari’s Sebastian Vettel finished in the 3rd place. With this victory, Lewis Hamilton has increased his chances of winning this year’s Formula One World Championship. 
Source- The Guardian 

 The Asian Paralympic Committee (APC)  confirmed that Hangzhou in China will host the fourth edition of Asian Para Games in 2022. The confirmation came following a visit to Hangzhou in July by APC President Majid Rashed and CEO Tarek Souei.
Source- News on AIR

 Prime Minister Narendra Modi and his Bangladesh counterpart Sheikh Hasina jointly launched the construction of India-Bangladesh Friendship Product Pipeline Project through video conferencing. The project will go a long way in strengthening the Indo-Bangla ties.
India-Bangladesh Friendship Product Pipeline Project:   
  • The 130-kilometre pipeline will connect Siliguri in West Bengal in India and Parbatipur in Dinajpur district of Bangladesh. 
  • The capacity of the pipeline will be 1 million metric tons per annum. 
  • The estimated project cost will be Rs 346 crore and it will be completed in 30 months time. 
  • This will be the first such pipeline through which refined diesel will be supplied to Parbatipur depot from Numaligarh of Assam in India. 
Source- DD News

 The Union Cabinet has approved an ordinance making triple talaq a punishable offence. The Supreme Court had in a verdict in August last year declared it illegal and unconstitutional. It was cleared by the Lok Sabha but was stuck in the Rajya Sabha. Though the ordinance has been cleared, for now, it must be placed before the Parliament and the bill would still need to be passed. The ordinance will have similar provisions as the Muslim Women Protection of Rights in Marriage Act.
Source- News on AIR

 Germany has rolled out the world’s first hydrogen-powered train, signalling the start of a push to challenge the might of polluting diesel trains with costlier but more eco-friendly technology. The two Coradia iLint trains were built by French train-maker firm Alstom. It started operating on a 100 km (62-mile) route between Cuxhaven, Bremerhaven, Bremervoerde and Buxtehude in northern Germany.
Source- The Guardian

 India and Sri Lanka signed an MoU for construction of a 5000-metric ton temperature controlled warehouse in Dambulla, Sri Lanka. The warehouse will be constructed with an Indian grant assistance of 30 crore Sri Lankan rupees. The project envisages construction of a 5000-metric ton temperature controlled warehouse for fruits and vegetables to minimize its post-harvest losses. This initiative will benefit the farming community by reducing the wastage, particularly in the peak season when there is surplus production. 
Source- DD News

 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-   
  • Equity infusion of RCF in Talcher Fertilizers Ltd.: approved the proposal of the Department of Fertilizers for equity investment of Rs.1033.54 crore of the total project cost for setting up a Coal Gasification based fertilizer project in Talcher Fertilizer Ltd. (TFL) by Rashtriya Chemicals & Fertilizers Limited (RCF).
  • Indore (Mangaliyagaon) — Budni New Line (205.5 Km) with Electrification. Total estimated cost of this project is Rs. 3261.82 crore. 
  • Revised Cost Estimate of Dam Rehabilitation and Improvement Project: Approved the Revised Cost Estimate of Dam Rehabilitation and Improvement Project (DRIP) at the revised cost of Rs 3466 crore with the financial assistance of the World Bank to improve safety and operational performance of 198 Dams. 
  • ASHA Benefit Package: The package entails an expenditure (Central funding) to Rs.1224.97 crore for two years
Source- Press Information Bureau (PIB)

 Actors Varun Dhawan and Anushka Sharma have been signed on to promote and endorse the Skill India Mission, chaired by Prime Minister Narendra Modi. The actors through their film are saluting India’s entrepreneurs and skilled workforce, especially homegrown artisans, craftspeople and weavers. 
Source- The Indian Express


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