DAILY UPDATED CURRENT AFFAIRS –28.11.2018 NATIONAL Union Commerce Minister revealed logo of Logix India 2019 Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu, launched the logo and brochure of Logix India 2019 in New Delhi, which will scheduled to take place from 31st January to 2nd February 2019. It will be organized by the Federation of Indian Export Organisations (FIEO) to improve logistics cost effectiveness and operational efficiencies for India‟s global trade. Note: India ranked 44 in the World Bank Logistics Performance Index 2018. World-class autism township worth 500 cr to set up near Kolkata India Autism Center (IAC),a non-profit organization in association with the West Bengal government will build a world-class autism township near Kolkata at a cost of Rs 500 crore. The soft launch of the project has been scheduled for January, 2019 and is expected to come up by 2023. 3-day 7th International Tourism Mart held for the first time in Tripura 3-day 7th International Tourism Mart (ITM) was held for the first time at the Pragna Bhawan in Agartala, Tripura. It was inaugurated by the Governor of Tripura, Prof. Kaptan Singh Solanki. The theme for this year‟s ITM is – “Adventure tourism”. Note: India attained 40th Rank in the index of Travel & Tourism Competitiveness Index 2017. PM to inaugurate International conference on maternal, newborn and child health Prime Minister Narendra Modi will inaugurate two day international conference on Maternal, new born and child health in New Delhi on 12th of next month. Heads of State from 16 countries and about 1200 participants from across the world will attend the fourth Partners‟ forum. The programme has been framed around the objectives of the global strategy of Survive, Thrive and Transform. Gujarat top state in implementing AB-PMJ Gujarat has emerged as the top performer in implementing the Ayushman Bharat-Pradhan Mantri Jan Arogya Yojana (AB-PMJAY). Tamil Nadu was ranked second and Chattisgarh was ranked third. AB-PMJAY was launched on 23 September 2018. 'Tourist Police' launched in Nagaland Nagaland's Chief Minister, Neiphiu Rio launched 'Nagaland Tourist Police' . It will work for the safety and security of the tourists and report any crime against them to the nearest police station. Nagaland is the second after Arunachal Pradesh in the North East to introduce tourist police. Public bicycle sharing project & app launched in Odisha Odisha's Chief Minister Naveen Patnaik launched a public bicycle sharing project and a mobile app named 'Mo Cycle' . The 'Mo Cycle' system will help in reducing traffic congestion, enhance space efficiency, and improve air quality. CM Naveen Patnaik inaugurates 7-day long National Tribal Craft Mela 2018 Odisha Chief Minister Naveen Patnaik inaugurated the 7-day-long National Tribal Crafts Mela2018 at Schedule Caste & Scheduled Tribes Research and Training Institute (SCSTRTI) in Odisha‟s Bhubaneswar INTERNATIONAL 2018 G20 Buenos Aires summit It will be the 13th meeting of Group of Twenty (G20) and the first G20 summit to be hosted in South America. The members of the G20 consist of 19 individual countries plus the European Union (EU). The theme of the summit is 'Building Consensus for a Fair and Sustainable Development'. The 19 member countries of the forum are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, Turkey, United Kingdom and the United States. ILO Global Wage Report 2018 According to International Labour Organization report, India recorded the highest average real wage growth in South Asia during the 2017-18. India was followed by Nepal, Sri Lanka, Bangladesh, Pakistan and Iran. St Petersberg to hold first Russia-India strategic dialogue The two countries discussions dedicated to the priorities of the economic policy of the two countries for Trade, Economic, and Investment Cooperation Development Strategy. 1441, Opp. IOCL Petrol Pump, CRPF Square, Bhubaneswar-750015 1 Ph. : (0674) 6556677, 8093556677. Web : www.vanik.org, E-mail : [email protected] DAILY UPDATED CURRENT AFFAIRS –28.11.2018 The programme included five thematic roundtables covering the following sectors: transport, agriculture, support for small and medium-sized business, digital transformation, and industrial cooperation. ECONOMY RBI eases hedging rules to 70% for external commercial borrowing The Reserve Bank of India has reduced mandatory hedging requirement for borrowers raising overseas funds to 70 percent from 100 percent. This move would enable Indian companies to borrow foreign currency-denominated ECBs for better liquidity as they don‟t have to have a 100% hedge coverage. The RBI had also cut the minimum tenure for borrowing through the ECB route to three years from five years. What is Hedging? ♦ It is a risk management tool used for reducing probability of loss from changing price of commodity, stocks, securities, etc. ♦ So according to the RBI move, those who could not manage to do 100% risk coverage can also apply for ECBs from now on. Centre, ADB sign 200 million dollar loan pact to upgrade state highways in Bihar Asian Development Bank (ADB) and the Government of India signed a $200 million loan in New Delhi to fund upgradation of 230 kilometers State Highways in Bihar under Bihar State Highways III Project (BSHP-III). ADB: ♦ Headquarters: Manila, Philippines. ♦ President: Takehiko Nakao. ♦ Established in 1966. ♦ Members: 67 Government of India and Asian Development Bank (ADB) inked $75 Million loan to improve Urban Services in 4 coastal towns and Mangalore in Karnataka Its main objective is to provide 24 x7 water supply in 4 coastal towns of Karnataka and improve sanitation infrastructure for Mangalore town. Karnataka: ♦ Chief Minister: H D Kumaraswamy. ♦ Governor: Shri Vajubhai Rudabhai Vala. ♦ National parks: Anshi National Park, Bandipur National Park, Bannerghatta National Park, Kudremukh National Park. Q2 GDP growth likely to slow to 7.5-7.6 pc: Report 'SBI Ecowrap' report said that India‟s GDP growth in the September 2018 quarter (Q2) is expected to slow to 7.5%-7.6% mainly due to the slowdown in rural demand. Ministry of Housing Launches Paisa - Portal for Affordable Credit & Interest Subvention Access „PaiSA‟- a centralised electronic platform for processing interest subvention on bank loans to beneficiaries under Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM). The portal will help the government to connect directly with the beneficiaries, ensuring that there is greater transparency and efficiency in delivery of services. „PaiSA‟ stands for “Portal for Affordable Credit and Interest Subvention Access”. It has been designed and developed by Allahabad Bank which is also the Nodal bank. RBI to inject Rs. 40,000 crore in Dec 2018 The Reserve Bank of India (RBI) will infuse Rs. 40,000 crores into the system through Open Market Operations (OMOs) in December 2018. OMO refer to the buying and selling of government securities in the open market in order to expand or contract the amount of money in the banking system. PERSON IN NEWS Sunil Arora: President Ram Nath Kovind appointed senior IAS officer Sunil Arora as the new Chief Election Commissioner (CEC). Election Commission of India (ECI) is permanent and independent constitutional body established directly by Constitution of India under Article 324 to ensure fair and fair elections in the country. Nageshwara Rao Guntur: Union Government has appointed renowned scientist Nageshwara Rao Guntur as Chairperson of Atomic Energy Regulatory Board (AERB).Atomic Energy Regulatory Board (AERB) was 1441, Opp. IOCL Petrol Pump, CRPF Square, Bhubaneswar-750015 2 Ph. : (0674) 6556677, 8093556677. Web : www.vanik.org, E-mail : [email protected] DAILY UPDATED CURRENT AFFAIRS –28.11.2018 established in November 1983 to carry out certain regulatory and safety functions in the fields of nuclear and radiation safety on a countrywide basis. Arvind Saxena :The President of India has appointed Arvind Saxena as Chairman, Union Public Service Commission (UPSC).The term of his appointment will be till August 7, 2020 when he attains the age of 65 years or till further orders whichever is earlier. Akhilesh Ranjan: Central Board of Direct Taxes (CBDT) member Akhilesh Ranjan was appointed as convenor of New Direct Tax Law Task Force, the committee which is drafting a new tax law and was constituted by the Government of India. OBITUARIES Oscar-winning director Bernardo Bertolucci passes away The Italian director won Oscar for the best director for the Movie “The Last Emperor”. AWARD Indian Social Entrepreneur Sanjay Kumar won the First UN Geospatial Ambassador Award Sanjay Kumar, Founder and CEO of Geospatial Media & Communications, was conferred the „Global Geospatial Industry Ambassador‟ Award at the United Nations World Geospatial Information Congress held at Deqing city in China. The Theme of the Congress is “The Geospatial Way to a Better World”. Wipro Chairman Azim Premji conferred highest French civilian honour Indian business tycoon and philanthropist Azim Premji was bestowed with the highest French civilian distinction Chevalier de la Legion d'Honneur (Knight of the Legion of Honour) in Bengaluru. SPORTS Dipa Karmakar grabs bronze in vault event at Artistic Gymnastics World Cup held in Cottbus, Germany India‟s 25 year old Dipa Karmakar won Bronze medal in the Vault event of Artistic Gymnastics World Cup organized by Federation