Current Affairs Current Affairs July 2018

 India Post Payments Bank (IPPB) is expected to go live with 650 branches in addition to 3,250 access points co-located at post offices in August, 2018 following final clearance from Reserve Bank of India (RBI) to start. RBI has given approval to IPPB after testing its entire system.
  • Key Facts
IPPB was incorporated on August 17, 2016 under Companies Act, 2013 as a public limited company with 100% Government of India equity under Department of Posts (Ministry of Communication & Technology). It was the third entity to receive payments bank permit after Airtel and Paytm. Around 11,000 gramin dak sevaks (in rural area) and postmen (in urban area) will provide doorstep banking services. IPPB also has been given permission to link around 170 million postal savings bank (PSB) account with its account. It will also carry out RTGS, NEFT, IMPS transaction that will enable IPPB customers to transfer and receive money from any bank account.
  • Payments Bank
Payments bank is new model of banking allows mobile firms, supermarket chains and others to cater to banking requirements of individuals and small businesses to further enhance financial inclusion. It will be set up as differentiated bank and will confine its activities to acceptance of demand deposits, remittance services, internet banking and other specified services but cannot undertake lending services. Payments bank can accept deposits maximum up to Rs 100,000 per account from individuals and small businesses. They can issue ATM/debit cards but not credit cards and can also issue other prepaid payment instruments. They also can distribute non-risk sharing simple financial products like mutual funds and insurance products.

  The Indian Railways launched ‘Mission Satyanishtha’ and a programme on Ethics in Public Governance, in a first-of-its-kind event, at a day-long function held at National Rail Museum, New Delhi. The Union Minister of Railways, Piyush Goyal administered the oath to the officers and supervisors at the programme. The first-of-its-kind event was inaugurated by Ashwani Lohani, Chairman, Railway Board. The Satyanishtha mission aims to sensitise all railway employees about the need to adhere to good ethics and to maintain high standards of integrity at work. 
Source- The Times of India

 Invest India and the UAE Minister for Artificial Intelligence (AI) signed an MoU for India - UAE Artificial Intelligence Bridge in New Delhi. This partnership will generate an estimated USD 20 billion in economic benefits during the next decade for both countries.  The MoU was signed in the presence of Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu and H.E. Ahmad Sultan Al Falahi, Minister Plenipotentiary – Commercial Attache, UAE Embassy at the India leg of GovHack series of World Government Summit. 
Source- Press Information Bureau (PIB)

 With a view to resolve the stress and revive such assets, the Government has decided to set up a High-Level Empowered Committee headed by Cabinet Secretary, Pradeep Kumar Sinha with representatives from the Ministry of Railways, Ministry of Finance, Ministry of Power, Ministry of Coal and the lenders having major exposure to the power sector. The Committee would look into the various issues with a view to resolve them and maximise the efficiency of investment including changes required to be made in the fuel allocation policy, regulatory framework, changes required in the provisioning norms/Insolvency and Bankruptcy Code (IBC), Asset Restructuring Company (ARC) Regulations and any other measures proposed for revival of stressed assets so as to avoid such investments becoming NPA. 
Source- Press Information Bureau (PIB) 

 The two-day Unified Commanders’ Conference (UCC) for the year 2018 started at New Delhi. The Annual Conference provides a platform for discussions at the Apex Level on all ‘Joint Issues’ amongst the three Services & Ministry of Defence and enables stock-taking of the previous year and planning the way ahead for the next year. During the conference, under the chairmanship of the Chief of Integrated Staff (CISC), a large number of Tri-Services issues would be deliberated thoroughly to arrive at a solution to challenges faced and to evolve plans for the future. 
Source- Press Information Bureau (PIB) 

 Oil and Natural Gas Corporation (ONGC) was awarded the INFRA Icon Award in the ‘Global Energy’ category at the mid-day INFRA Icons Awards 2018, in Mumbai. The award was given away by Additional Metropolitan Commissioner, Mumbai Metropolitan Region Development Authority (MMRDA), Pravin Darare.  ONGC has received this award as a recognition of its valuable contribution in upgrading India as a whole. INFRA aims to bring a change with trendsetters related to the infrastructure of India. The theme of the event was: ‘Smart cities envisages to take infrastructure development to a next level’.
Source- ANI News

 Mohun Bagan ‘Ratna’, the highest honour of Mohun Bagan club was awarded to former India international Pradip Chowdhury at its foundation day programme. Pradip Chowdhury is a former Mohun Bagan captain. He is the 18th recipient of Mohun Bagan ‘Ratna’ award. This award was first given to Sailen Manna in 2001.
Other awardees are:
  •  Goalkeeper Shilton Paul– Best Footballer for the year 2017-18,
  •  Sudip Chatterjee– Best Cricketer,
  •  Sourav Das– Best Youth Footballer Player,
  •  Special award to – Rahim Ali for his performance in the U-17 World Cup. 
  • Source- The Tribune

     Ace Indian shuttler Sourabh Verma lifted the Russian Open Badminton trophy at Vladivostok. In the title clash, he defeated Japan’s Koki Watanabe and won his first title of the season. Sourabh had won the Chinese Taipei Masters in 2016, and finished runners-up at Bitburger Open the same year. In Mixed Doubles, the pair of Rohan Kapoor and Kuhoo Garg, lost in the Final against the Russian-Korean team of Vladimir Ivanov and Min Kyung Kim to settle for a runners-up finish. 
    Source- DD News

     In Wrestling, Bajrang Punia has won his second consecutive international gold while Sandeep Tomar had to be content with a silver medal at the Yasar Dogu International in Istanbul, Turkey. Indian wrestlers returned with 10 medals, including seven by women, from the ranking event. Vicky won a bronze in the 57 kilogram.
    Medals won by Women wrestlers: 
  •  Gold Medal: Pinki (55kg category).
  •  Silver Medal: Seema (53 kilogram) and Pooja Dhanda (57 kilogram), Rajni (72 kilogram). 
  •  Bronze Medal: Sarita (62 kilogram), Sangeeta Phogat. 
  • Source- The Indian Express

     Assam released the final draft of the National Register of Citizens (NRC), seven months after it released the first draft on 1 January 2018, which included 1.9 crore names out of a total applicant pool of 3.29 crore. The recently released list, however, left our 40.07 lakh people wherein 2.89 crore people were found eligible out of 3.29 crore applicants.
    What is the NRC? The National Register of Citizens (NRC) is the list of Indian citizens of Assam. It was prepared in 1951, following the census of 1951. For a person’s name to be included in the updated NRC list of 2018, he/ she will have to furnish:
    • (i) The existence of name in the legacy data: The legacy data is the collective list of the NRC data of 1951 and the electoral rolls up to midnight of 24 March 1971.
    • (ii) Proving linkage with the person whose name appears in the legacy data.
    How did NRC verification begin in Assam? The process of NRC update was taken up in Assam as per a Supreme Court order in 2013. In order to wean out cases of illegal migration from Bangladesh and other adjoining areas, NRC updation was carried out under The Citizenship Act, 1955, and according to rules framed in the Assam Accord. 
    Who all have been left out? Out of the 40.07 lakh applicants who have been left out of the final draft NRC released, 2.48 lakh applicants have been kept on hold including the D-Voters (doubtful voters who have been disenfranchised on account of failure to prove citizenship), descendants of D-voters and persons whose cases are pending before the foreigners tribunal. 
    Source- The Livemint


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