ADB okays $620 mn loan for Madhya Pradesh, West Bengal

• Asian Development Bank (ADB) has approved USD 375 million loan to boost irrigation projects in Madhya Pradesh that will be used to contribute to double farming income by expanding irrigation networks and system efficiency • ADB also approved a financing package of USD 245 million to provide safe, sustainable, and inclusive drinking water service in West Bengal. Did you Know ADB- 19 December 1966, HQ - Manila, Philippines, Members- 67 Reserve Bank of India releases its annual report

• RBI in its annual report said monetary policy will be guided by achieving inflation of 4 % with a band of +/- 2%, while supporting growth. • India's economic growth rate will accelerate to 7.4 % with pick up in industrial activity and good monsoon. • The RBI touched upon a host of subjects like asset quality in the banking system, the government's demonetisation exercise in 2016, the value of the rupee, and India’s other macros. Did you Know RBI uses monetary policy to control inflation, interest rates, etc 4th BIMSTEC Summit in Nepal from 30th- 31st August

• 4th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) summit is being held in Nepal. • Theme is 'Towards a peaceful, prosperous and sustainable Bay of Bengal region’. • Modi said that his participation in the BIMSTEC summit in Kathmandu signals India's highest priority to its neighbourhood and a strong commitment to continue deepening ties with the "extended neighbourhood" in South-East Asia. • There are 7 member states in BIMSTEC: Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan, Nepal wins Gold in Men’s Triple Jump at Asian games

• Arpinder Singh clinched India’s first men’s triple jump gold in 48 years, with a jump of 16.77m in the Asian Games. • Ruslan Kurbanov of Uzbekistan took the silver with a best jump of 16.62m, while Shuo Cao of China was third with an effort of 16.56m. • India’s last Asian Games gold medal in men’s triple jump had come in 1970 from Mohinder Singh Gill. Did you Know Arpinder had earlier won bronze in the 2014 . RK Singh releases book on “Weather Information Portal for Indian Power System”

• R K Singh released a book on “Weather Information Portal for Indian Power System”. • It has been developed by Power System Operation Corporation limited (POSOCO) and IMD to facilitate enhanced utilization of Weather Portal in all spheres of Power Sector. • POSOCO manages the Inter-State Transmission of Power to utilities across India. • POSOCO also operates Electricity markets through coordination with thousands of entities every day for balancing demand and generation every 15 minutes. Did you Know R K Singh is Minister of State (IC) for Power & Renewable Energy NHAI Closes Its First Toll-Operate-Transfer Project

• National Highways Authority of India did a financial closure of its first Toll- Operate-Transfer project with the India chief of Macquarie with a cheque for Rs 9,681.5 cr. • This closure is the first for an asset recycling initiative by any government in India. • Under TOT model, Public funded projects operational for two years shall be put to bid wherein the right of collection and appropriation of fee shall be assigned for a pre determined concession period (30 years) to Concessionaires against upfront payment of a lump sum amount to NHAI. • TOT is a risk-free model. Minister has invited investors to come up with more innovative investment models for the infrastructure sector. Did you Know This year, Rs.71,000 cr has been allotted for roads and highways in India Facebook’s Much-Awaited ‘Watch’ Platform Is Being Tested In India

• Facebook, has started testing its dedicated video platform ‘Watch’ in India. It was available only in the US. • Watch is a platform for all creators and publishers to find an audience, build a community of passionate fans, and earn money for their work. • The interface of Watch has only two sections called ‘Watchlist’ and ‘Top Videos for You’. Watchlist displays six pages you follow on Facebook. • Users can customise their Watchlist by selecting which publishers’ videos to be shown. Did you Know Facebook has over 2.2 bn monthly active users as of January 2018 3rd edition of ‘Smart India Hackathon- 2019’ launched

• The third edition of World’s Biggest Open Innovation Model- Smart India Hackathon (SIH) 2019 was launched by the Union Minister for HRD- Shri Prakash Javadekar in New Delhi. • It is a nationwide initiative to provide students with a platform to solve some of pressing problems we face in our daily lives, and thus inculcate a culture of product innovation and a mindset of problem solving. Did you Know SIH 2019 will have 2 editions – Software edition (a 36-hour software product development competition) & Hardware edition (a 5 days long hardware product development competition). ‘Dr. Ambedkar National Merit Awards-2017’ presented to meritorious SC/ST Students

• Thaawarchand Gehlot, Union Minister for Social Justice & Empowerment presented “Dr. Ambedkar National Merit Awards- 2017” to meritorious SC/ST students. • Dr. Ambedkar Foundation (DAF) was set up in 24th March,1992. The award scheme was started in year 2002-03 • Under the Scheme, Cash Award of Rs 60,000, Rs.50,000 and Rs.40,000 is given to the 1st, 2nd and 3rd highest marks holders respectively, along with a Merit Citation and Books on Dr. Ambedkar and a copy of the Constitution of India . Did you Know Minister for Social Justice is the Chairperson of the Foundation. Cabinet approves Umbrella scheme O-SMART of Ministry of Earth Sciences

• Cabinet approved the scheme “Ocean Services, Technology, Observations, Resources Modelling and Science (O-SMART)” for implementation during the period from 2017-18 to 2019-20 at an overall cost of Rs.1623 crore. • It encompasses a total of 16 sub-projects addressing ocean development activities - Services, Technology, Resources, Observations and Science. • Implementation of O-SMART will help in addressing issues relating to Sustainable Development Goal-14, which aims to conserve use of oceans, marine resources for sustainable development. Did you Know This helps in dealing with ocean disasters like Tsunami, Storms, etc.