Tuesday, July 21, 2015

Starred Articles

PM Modi launches projects to train 40 crore people
Politics and Government > National Skill Development Mission > 16th July
The initiatives namely, National Skill Development Mission, National Policy for Skill Development and Entrepreneurship 2015, Pradhan Mantri Kaushal Vikas Yojana (PMKVY) scheme and the Skill Loan scheme were launched by PM Narendra Modi at an event recently. They were launched to mark the first-ever World Youth Skills Day. These projects aim to train over 40 crore people in India in different skills by 2022. Students completing courses from skill development programmes under the Government will receive certificates and even job offers.

India signs $250-million loan pact with World Bank for Andhra Pradesh Disaster Recovery project
India > World Bank Loan > 16th July
A financing agreement was signed between the Centre, the Andhra Pradesh government and the World Bank. According to the pact, a financial assistance worth $250-million will be provided by the World Bank for Andhra Pradesh Disaster Recovery Project which will help the state improve its capacity to respond promptly and effectively in times of crisis. The project aims to restore, improve and enhance resilience of public services, environmental facilities, and livelihoods in targeted communities of Andhra Pradesh.

National Career Service portal launched by PM Modi
Politics and Government > National Career Service portal > 20th July
In a bid to modernize all government-run employment exchanges, Prime Minister Narendra Modi launched National Career Counselling Portal where job seekers can meet job providers. The portal is being set up under the National Career Service (NCS) project which aims at transforming all the government-run employment exchanges. Candidates can also avail career-related counselling by either visiting these centres or through its helpline numbers.


Boeing signs pact with Tatas to develop aerospace and defence sector technology
Corporate > Make In India > 16th July
US-based aircraft maker Boeing has entered into a pact with Tata Advanced Systems Limited (TASL) to develop high-end aerospace and defence sector technology in India, which can cater to the global markets. According to a Boeing representative, TASL will benefit from the deal by getting "significant work packages" in the aerospace-defence manufacturing space.

Customs pact signed between India and Russia to boost trade
Economy > Indo-Russian Trade > 16th July
An agreement between India and Russia has been reached on customs which provides for rapid clearance of imported goods at the land and sea ports. Further liberalisation on visas is also being discussed between the two countries. The agreement comes as an effort to increase bilateral trade between the two nations, as a target of $30 billion is expected to be achieved by 2025.

Banks without ATM networks can issue debit cards with bigger banks as sponsors: RBI
Banking and Insurance > Debit cards > 16th July
In a bid to regularize the use of electronic payment channels among bank customers, RBI has allowed banks without ATM networks to issue debit cards in tie-up with a bank that has its own network. Co-operative banks will also be allowed to issue debit cards with a bigger bank as a sponsor. For carrying out such transactions, banks will be required to become sub-member of the National Financial Switch (NFS).

No penalty till 3 days after credit card's due date: RBI
Banking and Insurance > Credit cards > 17th July
Reserve Bank of India has instructed banks to compute penalties three days after due date on a credit card holder. The directive is beneficial for those whose payment or transfer gets delayed due to a bank holiday or for any other reason. Also banks have been asked to report delayed payment to credit information companies like Cibil only when a credit card account remains 'past due' for more than three days.

RBI signs Special Currency Swap Agreement with the Central Bank of Sri Lanka
Banking and Insurance > RBI > 17th July
A Special Currency Swap Agreement signed between the RBI and the Central Bank of Sri Lanka enables the latter to draw up to US$ 1.1 billion for a maximum period of six months. This special arrangement is in addition to the existing framework on Currency Swap Arrangement for the SAARC member countries. The swap arrangements provide a backstop line of funding for the SAARC member countries in case of currency volatilities.

Nelson Mandela International Day observed on 18 July
Days > Nelson Mandela International Day > 18th July
The world paid tributes to former South African President and Nobel Peace Prize laureate Nelson Mandela (1918-2013) on the eve of Nelson Mandela International Day on 18 July 2015. The UN created the Mandela Day to inspire individuals to take action to help change the world for the better, and in doing so build a global movement for good. Also, the day remembers Mandela's contribution in eradication of apartheid system in South Africa.

Make in India: India, Russia to jointly build 200 military choppers
Politics and Government > Defence > 19th July
Among the several defence projects on which India and Russia are working under the ‘Make in India’ programme, one of them includes manufacturing of 200 helicopters in India with Russian collaboration. This move is set to strengthen decades-old defence co-operation between the two countries. The upcoming projects may include Russian submarines and frigates being built. Prime Minister Narendra Modi in a statement said that Russia continues to remain India's primary defence supplier.

Railways modifies Tatkal ticket rules for ease of passengers
Politics and Government > Railways Tatkal Tickets > 20th July
In order to ease the procedure of booking Tatkal tickets for the passengers, Ministry of Railways has decided to modify some of the rules related to purchase of Tatkal tickets. The modified rules relieve the passengers from submitting photocopy of proof of identity or its number while booking Tatkal ticket. As per the proposed changes, in case of ticket booked under Tatkal scheme, one of the passengers has to produce anyone of the following proofs of identity in original during the journey.

Greece reopens banks, start repaying some debts
World > Greece crisis > 20th July
Greece showed signs of stability as it reopened its banks and ordered billions of euros owed to international creditors to be repaid. It had closed its banks and ATMs for three weeks to save the system from collapsing under a flood of withdrawals. Acceptance of the bailout terms and reopening of the banks have marked a new stage for Greece's Prime Minister Alexis Tsipras, after months of difficult talks. Greece has begun making payment to European Central Bank, failure of which could have forced the country out of the Eurozone.

China expected to be 3rd largest nuclear energy generating country
World > Nuclear Energy > 21st July
China is expected to acquire the position of 3rd largest nuclear energy generating country by 2017. According to US energy information administration (EIA), China will beat Republic of Korea and Russia in nuclear generating capacity by the end of 2015. Around 2017, China is likely to take the position behind the US and France by overtaking Japan. In order to climb this ladder, China plans to increase nuclear capacity to 58 gigawatts (GW) and to have 30 GW of capacity under construction by 2020.

New Development Bank launched in Shanghai by BRICS
World > BRICS New Development Bank > 21st July
The New Development Bank (NDB) backed by BRICS countries has been launched in Shanghai. The bank's primary aim is to lend money to developing countries to help finance infrastructure projects. The Brics group of emerging economies has denied the bank being a rival of the World Bank and the International Monetary Fund, though it will work as an alternative to them. The bank will start lending loans from next year.


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