DAILY UPDATED CURRENT AFFAIRS – 15.04.2018 TO 17.04.2018

NATIONAL e-FRRO scheme to provide hassle-free travel for foreigners • The Union home ministry flagged off the e-FRRO (e-Foreigners Regional Registration Office) scheme which aimed at building a centralized, transparent online platform for the foreigners to avail visa related services. • In the new system, foreigners will be able to get as many as 27 visa and immigration-related services in from the comfort of their place of stay. • Foreigners can apply VISA online on the portal and obtain the services through email or post without appearing in person at the FRRO office. • e-FRRO is running successfully as a pilot project in four FRROs (Bangalore, Chennai, Delhi and Mumbai) since February 12, 2018. Now it has been rolled out in the remaining eight FRROs, - namely Kolkata, Amritsar, Hyderabad, Cochin, Thiruvananthapuram, Calicut, Lucknow and Ahmedabad. Government launches first tranche of Sovereign gold bonds for FY19 • The Union Government (Finance Ministry) in consultation with Reserve Bank of India (RBI) has launched first tranche of sovereign gold bonds (SGBs) for current fiscal (FY 2018-19). • It will be sold through banks, designated post offices and recognised stock exchanges namely NSE and BSE and Stock Holding Corporation of India Limited (SHCIL). • The Union Government had launched sovereign gold bond, gold monetisation scheme and Indian gold coin in 2015. • Under it, bonds are denominated in units of one gram of gold and multiples thereof. These gold denominated bonds are restricted for sale to resident Indian entities, including individuals, Hindu undivided families (HUF), trusts, universities and charitable institutions. • The minimum subscription for individual and HUF is 1 gram and maximum is 4 kg. For trusts and similar entities, maximum subscription is 20 kg per fiscal. • Price of bond is fixed in rupees on basis of simple average of closing price of gold of 999 purity published by India Bullion and Jewellers Association Limited for last 3 working days of week preceding the subscription period. • The tenor of SGB bonds is 8 years with provision of premature cancellation after 5 years on interest payment dates. • For those who will subscribe the gold bond online will get a benefit of Rs. 50 per gm. • RBI has notified rate of interest of 2.50% per annum on SGB bonds is payable on half yearly basis. • The bonds can be used as collateral for loans and loan-to-value ratio is set equal to ordinary gold loan mandated by RBI from time to time. World Bank to Lend $48 Min For Landscape Management In Meghalaya • The Union Government (Finance Ministry) has signed Loan Agreement with World Bank for IBRD loan of US $48 million for Meghalaya Community – Led Landscapes Management Project (MCLLMP) • The project aims to strengthen community-led landscapes management in selected landscapes in Meghalaya by 2023. World Bank’s Rs 770 cr Cold-dam Water supply Scheme for Shimla • Himachal Pradesh Council of Ministers gave nod to form a Company for Managing Rs 770 crore World Bank funded Cold Dam Water lifting Schemes the firm is being called Shimla Jal Prabhandhan Nigam Limited (SJPNL). • The Cabinet meeting held here under the chairmanship of Chief Minister Jai Ram Thakur approved from SJPNL for the purpose of water supply and waste water management in Greater Shimla Planning Area and other places Shri Jayant Sinha to head a 13 member Task Force for fast-tracking Unmanned Aerial Vehicle (UAV) technology The Government has decided to constitute a Task Force under the chairmanship of Shri Jayant Sinha, Minister of State for Civil Aviation for fast-tracking the roll-out of Unmanned Aerial Vehicle (UAV) technology. The Task Force will develop a roadmap with implementable recommendations for Central as well as State Governments, Industry and Research Institutions. The Headquarters of the Task Force will be at Ministry of Civil Aviation, New Delhi. Intra-state e-way bill rolled out in 5 states • The e-way Bill system for intra-state movement of goods implemented from April 15 in five states. According to the GST Council, the five states are Andhra Pradesh, Gujarat, Kerala, Telengana and Uttar Pradesh. • This would eventually pave the way for a nationwide single e-way Bill system. Already, e-way Bill system for intra-state movement of goods is operational in Karnataka from April 1, 2018. • It may be recalled that the GST Council rolled out the electronic e-way bill for inter-state movement of goods valued over Rs 50,000 from April 1. First regional conference of eastern states on Water Resources held in Kolkata • First regional conference of eastern states on Water Resources took place in Kolkata. • Bihar, , West Bengal, Odisha and Chhattisgarh were the participating states with the objective to resolve the water disputes among them.

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• It was discussed that instead of having state-wise multiple tribunals, the Centre is proposing for a single tribunal so that inter-state water disputes can be settled at the earliest. E Godavari, first district with complete LED street lighting • East Godavari district in Andhra Pradesh is all set to become the country’s first ‘LED street light district’. • The rural LED street lighting programme in the district entailing the installation of around 3.1 lakh LED street lights has been completed. The exercise is expected to save around 34 Million Units (MU) annually. Government launches DARPAN-PLI App • The Union Ministry of Communications has launched DARPAN-PLI application for seamless collection of premium for Postal Life Insurance (PLI) and Rural Postal Life Insurance (RPLI) policies. • The app launched under DARPAN Project will help in collection of premium of these two policies at branch post offices anywhere in India, with online updation of the policies. DARPAN Project ‹ The Ministry of Communications had launched DARPAN (Digital Advancement of Rural Post Office for a New India) Project to achieve total digitisation of postal operations in the country, under IT Modernisation Plan, Department of Posts (DoP). ‹ The project aims at connecting all 1.29 lakh Rural Branch Post Offices in country to enable them to do online postal and financial Transactions. ‹ Under it, hand held devices with SIM connectivity and solar power backup are installed in all Branch Post Offices across the country to ensure improvement in quality of Postal services being offered in remote rural areas. POSHAN Abhiyaan: 1st meeting of National Council on India’s Nutrition Challenges held in New Delhi • The first meeting of National Council on India’s Nutrition Challenges under POSHAN Abhiyaan was held in New Delhi. • It saw participation of NITI Aayog Vice Chairman Dr Rajiv Kumar, CEO Amitabh Kant and representatives of various ministries of Central and State Governments. • POSHAN Abhiyaan was launched by Prime Minister Narendra Modi in Jhunjhunu, Rajasthan in March 2018. • POSHAN stands for Prime Minister’s Overarching Scheme for Holistic Nutrition. It aims to ensure holistic development and adequate nutrition for pregnant women, mothers and children. INTERNATIONAL China aims at establishing Hainan free trade zone by 2035 • The China has aimed at making the free trade port system and operational mode of Hainan “more mature” by 2035. • A free trade port system will be “basically established” in Hainan by 2025, according to the guidelines on supporting Hainan’s efforts to deepen reform and opening up jointly released by the Central Committee of the Communist Party of China (CPC) and the State Council. Neelum Jehlum Hydropower Project inaugurated in PoK Pakistan Prime Minister Shahid Khaqan Abbasi has inaugurated the first unit of a key hydropower mega project built with the financial and technical support of China in Pakistan-occupied Kashmir. The 969- MW Neelum Jehlum Hydropower Project near Muzaffarabad was announced more than 12 years ago. Ireland’s tallest tower reopens to public after 47 years • Ireland’s tallest tower "O’Connell Tower" has reopened to the public here after 47 years following a bomb attack whose perpetrator has not been officially identified until now. • Located in north Dublin, the tower was built in 1855 in the memory of Daniel O’Connell, one of the greatest political figures in the first half of the 19th century in Ireland. BILTERAL India, Zambia sign 4 agreements during President Kovind’s visit • India and Zambia signed four agreements during President Ram Nath Kovind’s visit to Lusaka, Capital of Jambia. • The two sides signed four agreements – on double taxation avoidance; on judicial cooperation; on mutual visa waivers for officials and diplomats, and on the Entrepreneurship Development Institute that India will build in Zambia. • As part of President Kovind's visit, India has agreed in principle to provide concessional finance and support towards the construction of the Mahatma Gandhi Convention Centre in Lusaka. India has also gifted Zambia medicines and medical equipment worth USD 3 million as well as presented USD 100,000 for the Mahatma Gandhi School in Lusaka. • President Ram Nath Kovind embarked on a three-nation state visit to the African countries of Equatorial Guinea, Swaziland and Zambia from April 7 to 12. Indian, Russian firms ink 7 MoUs for components • The third India -Russia Military Industrial Conference was held on the side-lines of DefExpo 2018 at Thiruvidanthai, Kancheepuram district on the East Coast Road near Chennai. • Seven MoUs were signed between Indian and Russian companies for indigenous manufacturing of spare parts, wrapping up the deliberations on the aftersales services and spare parts availability for defence equipment that India bought from Russia.

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• The Indian delegation was led by Secretary (Defence Production) Dr Ajay Kumar while Deputy Minister of Industry and Trade of Russian Federation Mr Oleg Ryazantcev led the Russian side. PM Modi to embark on 5-day visit to UK, Sweden • Prime Minister Narendra Modi embarked on a five-day official visit to Sweden and the United Kingdom (UK). • Apart from bilateral visits to the two countries, Prime Minister Modi will attend the India-Nordic Summit and Commonwealth Heads of Government Meeting (CHOGM) in Sweden and the United Kingdom respectively. India to work with China on OPEC’s Asian Premium issue • India is coordinating with China and other Asian countries to raise voice against Asian premium charged by Organisation of the Petroleum Exporting Countries (OPEC). • Indian Oil Corporation Chairman Sanjiv Singh will coordinate with head of China National Petroleum Corporation (CNPC) to chalk out strategy that will result in getting better price from OPEC countries. • Saudi Arabia is the de facto leader of OPEC. OPEC Headquarter : Viena, Austria. BANKING & FINANCE CII pegs India’s GDP growth at 7.3-7.7% for 2018-19 • The Confederation of Indian Industry (CII) expects India’s gross domestic product (GDP) to grow at 7.3- 7.7 per cent during the 2018-19 financial year. • The Confederation of Indian Industry (CII) is a non-government, not-for-profit, industry-led and industry- managed organization, founded in 1895. India will grow at 7.3% in 2018: World Bank Report • The World Bank in its twice-a-year South Asia Economic Focus report has projected growth rate of 7.3% for India in 2018 and 7.5% for 2019 and 2020. • The growth is expected to accelerate from 6.7% in 2017 to 7.3% in 2018 and to subsequently stabilise supported by sustained recovery in private investment and private consumption. India expected to grow at 7.4% in 2018: IMF • The International Monetary Fund (IMF) in its latest World Economic Outlook (WEO) has projected India to grow at 7.4% in 2018 and 7.8% in 2019. • It also held that India will again emerge as world’s fastest-growing major economy at least for the next two years (2019 and 2020). BHIM App Now Offers Cashback Worth Up to Rs. 750 to Customers • The National Payments Corporation of India (NPCI) activated a cashback scheme for users — both consumers and merchants — of the Bharat Interface for Money (BHIM) app. • Customers successfully completing the first financial transaction will receive Rs. 51 cashback. There isn't any minimum limit for the first transaction. • This means the customers can make the transaction for an as low amount as Re. 1 to avail the cashback. • Further, for every unique transaction with a minimum value of Rs. 100 to any VPA (Virtual Payment Address)/ UPI ID, bank account, or mobile number, the BHIM app will offer a cashback worth Rs. 25. Maximum cashback, in this case, is limited to Rs. 500 per month. • Alongside the cashback offered for transactions valued Rs. 100 or above, the BHIM app is offering cashback on a minimum transaction value of Rs. 10. For the number of transactions less than 50 but equal to or more than 25, the app will offer a cashback worth Rs. 100, while a Rs. 200 cashback will be given for transactions equal to or more than 50 but less than 100. Similarly, the app will offer cashback worth Rs. 250 for the number of transactions equal to or less than 100. • Merchants who accept payments through BHIM or other apps using the Unified Payments Interface (UPI) will be entitled to a maximum cashback of Rs 1,000 per month. They will receive a cashback worth 10% of the value of each transaction, subject to a cap of Rs 50 per transaction. BHIM (Bharat Interface for Money) ‹ It was named after Dr. Bhimrao R. Ambedkar. ‹ BHIM is a mobile app developed by National Payments Corporation of India (NPCI), based on the Unified Payment Interface (UPI). ‹ BHIM allow users to send or receive money to or from UPI payment addresses, or to non-UPI based accounts (by scanning a QR code with account number and IFSC code or MMID (Mobile Money Identifier) Code). ‹ Currently the fund transfer limit has been set to a maximum of Rs 10,000 per transaction and a maximum of Rs 20,000 in a day Myntra acquires smart wearables startup, Witworks m-commerce play, Myntra, announced that it has acquired Witworks, a Bengaluru based technology startup, focussed on producing smart wearable devices and their underlying software. CVC asks banks to give details of frauds over Rs 3 crore to plan preventive mechanism Central Vigilance Commission has asked banks to give details of any fraud worth over Rs. 3 crore to devise a preventive mechanism. This data is originally lying with respective banks and the Reserve Bank of India. AU Bank bets on ‘Kamao’ app to ramp up biz

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• Jaipur-headquartered AU Small Finance Bank wants to ramp up its business via crowd-sourcing — involving not only employees but also customers and non-customers — with the help of a mobile-based app called ‘Kamao’ (earn). • This app is currently undergoing beta (field) testing. Govt raises NABARD’s authorised capital to Rs 300 billion As part of the drive to double income of farmers by 2022, the government has raised the authorised capital of NABARD by six times to Rs 300 billion(from Rs 50 billion) to help it increase its lending to the rural economy. Kotak Mahindra becomes second-most-valued bank; Top- HDFC • Kotak Mahindra Bank pipped SBI to become India’s second-most-valued lender after HDFC Bank in terms of market capitalisation. • As per BSE, HDFC retain the top position with a market Cap of Rs. 5.03 lakh cr. KMB’s market Cap standard Rs. 2.24 lakh cr., compared to SBI’s Rs. 2.23 lakh cr. • KMB-MD – Udaya Kotak, Chairman – Shankar Acharya, Headquarter – Mumbai. PERSON IN NEWS Arun Jaitley: Finance Minister Arun Jaitley sworn in as a member of the Rajya Sabha for a new six-year term. The 65-year-old minister, elected to the Upper House of Parliament from Uttar Pradesh. Veteran journalist S. Nihal Singh passes away Noted journalist and former Chief Editor of The Statesman and , Surendra Nihal Singh passed away at 88. He was awarded the prestigious International Editor of the Year Award in New York for his role in opposing former Prime Minister Indira Gandhi’s emergency in mid-1975. AWARD Rana Kapoor felicitated with ‘India Talent Management Award 2018’ Rana Kapoor, MD & CEO, YES BANK has been awarded with the ‘India Talent Management Award’ for fostering an entrepreneurial spirit and best practices at one of India’s fastest growing banks. Bhuj Mercantile Coop Bank bags Banco Award Kutch-based Bhuj Mercantile Cooperative Bank has bagged the prestigious Banco Award for best performing cooperative bank. The bank was adjudged best among the 1500 cooperative banks from across the country. Bhuj Mercantile Cooperative Bank received the Banco Award from Telangana Chief Minister K Chandrashekhar Rao in presence of leaders from over 500 cooperative banks. Banco Award given anually to the top performing cooperative banks recognise and encourage best practices in the cooperative banking sector. Dharmendra to receive Raj Kapoor Lifetime Achievement award Veteran actor Dharmendra and filmmaker Rajkumar Hirani will be conferred with the prestigious Raj Kapoor Lifetime Achievement and Raj Kapoor Special Contribution awards, respectively. SPORTS Anish Bhanwala, 15, becomes India’s youngest medallist Karnal’s 15 years old Anish Bhanwala created history by becoming the youngest ever gold medallist for India by winning the top prize in the men’s 25m Rapid Fire Pistol event on Day 9 of Commonwealth Games 2018 at the Belmont Shooting Centre in Gold Coast, Australia. Tejaswini Sawant breaks Commonwealth Games record to clinch shooting gold; Anjum Moudgil bags silver medal Tejaswini Sawant clinched her maiden gold medal at Commonwealth Games 2018 as she broke the Commonwealth Games record in Women’s 50m Rifle 3 Positions event with a best score of 457.9 in Gold Coast. Apart from Sawant, India’s Anjum Moudgil clinched a silver medal in the same event by finishing with a total of 455.7. Amritsar athlete Navjeet Dhillon wins bronze in discuss throw Discus throwers Seema Punia and Navjeet Kaur Dhillon opened India’s medal account in athletics on day 8 at the 21st Commonwealth Games in Australia, clinching a silver and bronze respectively. ’s athlete Seema Punia (34) won silver in women’s discus throw event with a throw of 60.41m, while 23 year-old Navjeet Kaur Dhillon of Amritsar won a bronze in women’s discus throw event with a throw of 57.43 m. CWG 2018 : Bajrang Punia wins gold; Pooja Dhanda, Mausam Khatri bag silver; Divya Kakran gets bronze For the second consecutive day of wrestling at Commonwealth Games (CWG) 2018, four wrestlers took the mat and all four returned with medals with Bajrang Kumar winning the gold medal in the 65kg freestyle category. Finishing with a silver medals were Pooja Dhanda (57kg) and Mausam Khatri (97kg), while Divya Kakran (68kg) settled for a bronze medal. Paddlers Manika Batra, Mouma Das win India’s first-ever silver in women’s doubles Manika Batra and Mouma Das settled for a silver medal in women’s doubles Table tennis event at the Commonwealth Games 2018, after losing the final to defending champions Feng Tianwei and Yu Mengyu. CWG 2018: Manika Batra wins historic singles gold in table tennis Manika Batra won a first ever women’s singles Table Tennis gold for India at the Commonwealth Games, blanking Yu Mengyu of Singapore 4-0 in the final on Day 9 of the Commonwealth Games (CWG) 2018 in Gold Coast.

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