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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.
Others
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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