Current Affairs

  The Vice President of India, M. Venkaiah Naidu visited the Republic of Paraguay and the Republic of Costa Rica. This was the first high-level visit from India to both these countries. He was accompanied by a high-level delegation including the Minister of State for Tourism (I/C), Alphons Kannanthanam, the Members of Parliament and senior officials from the Government of India.
Visit To Paraguay:    The Vice President met with the President of the Republic of Paraguay, Mr. Mario Abdo Benítez, the Vice President, Mr. Hugo Velázquez, and the President of the National Congress (Senate), Mr. Silvio Ovelar. He also addressed the India-Paraguay business forum and interacted with the Indian Diaspora in Paraguay.
Visit To Costa Rica:    The visit of Vice President to the Republic of Costa Rica was the first ever high-level visit from India to the nation. The Vice President met the President of Costa Rica, Mr. Carlos Alvarado Quesada and held Delegation level talks with him which was followed by a joint press statement. The Vice President was also conferred an Honorary Doctorate by the University for Peace founded by the United Nations.
Source- Press Information Bureau (PIB)

  State-owned Punjab National Bank (PNB) has sanctioned loans worth Rs 689 crore to over 1,600 Micro, Small and Medium Enterprises (MSMEs) through the psbloansin59minutes.com portal as part of its effort to promote such industries. Under the Mudra Yojana, the bank has offered loan to over 2.69 lakh small entrepreneurs this fiscal (till February 14, 2019).
Source- The Economic Times

  Dr. A.K. Mohanty, Distinguished Scientist and Director, physics group of the Bhabha Atomic Research Centre (BARC) and Director, Saha Institute of Nuclear Physics, Kolkata took over as Director, BARC from Mr. K.N. Vyas, Chairman, Atomic Energy Commission and Secretary to the Government of India, Department of Atomic Energy. Dr. Mohanty graduated from the 26th batch of the BARC Training School and joined Nuclear Physics Division of Bhabha Atomic Research Centre in 1983. Dr. Mohanty is the recipient of Young Scientists Award of Indian Physical Society (1988), Young Physicist Award by Indian National Science Academy (1991) and Department of Atomic EnergyHomi Bhabha Science & Technology Award (2001).
Source- Press Information Bureau (PIB)

  The Ahmedabad bench of the National Company Law Tribunal (NCLT) has approved the Rs 42,000-crore resolution plan submitted by ArcelorMittal for the debt-ridden Essar Steel Ltd. The tribunal’s approval for the mega-deal has come 583 days after it started the insolvency proceedings, instead of the mandated 270 days. ArcelorMittal’s takeover proposal for the indebted steel-maker was approved by the Essar Steel’s Committee of Creditors last October and it was pending before the NCLT for approval since then.
Source- The Economic Times

  Defence Research and Development Organization (DRDO) successfully test fired the PINAKA guided WEAPON rocket system from Pokhran range in Rajasthan. The weapon system is equipped with state-of-the-art guidance kit comprising of an advanced navigation and control system. The weapon systems impacted the intended targets with high precision and achieved desired accuracies.
Source- DD News

 India is the second largest importer of weapons in the world, as per the annual report ‘Trends in International Arms Transfers-2018’ released by the think tank Stockholm International Peace Research Institute (SIPRI). Saudi Arabia is now the world’s largest weapons importer. After maintaining its position of world’s largest arms importer for about 8 years, India dropped down to be the second largest importer of weapons during 2014-18. India accounted for 9.5% of the global total imports during 2014-18, while Saudi Arabia accounted for 12% of the total imports during the period.
Source- The Economic Times

  Indian gymnast Dipa Karmakar was selected as Barbie role model & was presented with a one-of-a-kind doll by Barbie as the company celebrates its 60th anniversary. She was part of the ‘Shero’ program launched in 2015 by the company.
Source- The Hindu

  Prime Minister Narendra Modi has announced that Prasar Bharati has brought 11 more State DD Channels on the Satellite footprint of India through DD Free Dish. The 11 channels include five from Northeastern states.
  • 11 Channels The DD channels of the states of Chhattisgarh, Goa, Haryana, Himachal Pradesh, Jharkhand, Manipur, Meghalaya, Mizoram, Nagaland, Tripura and Uttarakhand have been brought to satellite footprint through DD Free Dish.
  • Benefits The state channels represent the aspirations of the people of the state. Satellite network for these 11 channels through DD Free Dish together with increasing visibility of these channels in the regions will also give them an all-India presence. This all India presence and accessibility to regional broadcast will help promote regional culture and give opportunities to local talent as well.
  • Prasar Bharati Prasar Bharati came into existence on 23.11.1997 is a statutory autonomous body established under the Prasar Bharati Act. Prasar Bharati is the Public Service Broadcaster of India. Through the Prasar Bharati Act, the objectives of public service broadcasting are achieved by making All India Radio and Doordarshan, which earlier were working as media units under the Ministry of I&B as the constituents of Prasar Bharati. Free Dish is the Free Direct to Home (DTH) service of Prasar Bharati for receiving TV service directly through satellite with a personal small dish antenna. DTH service does not require a local cable operator for receiving TV service at home.

 The persistent efforts of the Intellectual Property Rights cell of the Kerala Agriculture University have finally yielded results. The Marayur Jaggery largely produced in the regions of Marayur and Kanthallur grama panchayats of Kerala has got the GI tag.
Geographical Indication Geographical Indication (GI) is a name or sign used on products which correspond to a specific geographical location or origin. Geographical Indication act as a certification that the product possesses certain qualities, is made according to traditional methods or enjoys a certain reputation, due to its geographical origin.
Marayur Jaggery Marayoor in the Idukki district of Kerala is known for its tensive sugarcane cultivation. In the regions of Marayur and Kanthallur, more than 2500 acres of land is under sugarcane cultivation. The peculiar geographical location of Marayoor amid the forests of the Western Ghats gives the sugar cane a distinct geographical identity. The local people have integrated the age-old tradition have imparted age-old specialized skill to make Marayur Jaggery a distinct product in itself. The distinct features of the Marayur Jaggery are high sweetness with less saltiness, high content of iron and less sodium. The produce is free of impurities and the sugar cane fields are free of chemical pesticides and fertilisers. The Marayur Jaggery is produced without adding any chemicals has always been known for its high quality. Eyeing the market of the traditional Marayur Jaggery fake jaggery with a salty taste was being marketed as Marayur jaggery. The GI tag will now enable to initiate legal action against fake jaggery being sold as Marayur Jaggery.

 State Bank of India has become the first domestic bank to link the interest rate it offers on savings account deposits to an external benchmark — the Reserve Bank of India’s repo rate. By doing so, the bank will effectively link all loan rates to an external benchmark either directly or indirectly, thereby attempting to speed up the transmission of any changes in the benchmark monetary policy rate to depositors and borrowers.
SBI announced the following changes:
  • Savings accounts with deposits above Rs 1 lakh would be priced at 2.75% below the prevailing repo rate of 6.25%. The effective rate works out to be 3.5%, which is unchanged from the prevailing rate on savings accounts.
  • Cash credit accounts and overdraft facilities over Rs 1 lakh would be priced at 2.25% over the repo rate. At the prevailing repo rate of 6.25%, this would mean a floor price of 8.5%.
  • For all other floating rate products, including retail and corporate loans, the impact of SBI’s decision to link savings account deposit rates to the repo rate will be felt indirectly. These loans will continue to be linked to the 1-year MCLR (marginal cost lending rate). 
  • For savings account holders with balances up to Rs 1 lakh and borrowers with cash credit and overdraft limits up to Rs 1 lakh, interest rates will remain fixed.
  • Source- Press Information Bureau (PIB)


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