June 18, 2018

NATIONAL NEWS

  1. US officials from Pentagon will meet the Indian experts on negotiation of communications military agreements.
    • The US had granted India the status of a ‘Major Defence Partner’ in 2016.
    • The talks are based on the military agreement between India and US in 2016 on Communications Compatibility and Security Agreement (COMCASA).
    • It is meant to facilitate the use of high-end secured communication equipment to be installed on military platforms being sold to India.
    • If COMCASA becomes mandatory, then India is to get the armed version of the Sea Guardian drones from Washington.
  1. The Bengaluru-based KisanKraft intends to take the ‘aerobic rice’technology to five states during this Kharif season and conduct demonstrations to reach out to more farmers.
    • The aerobic rice technology is a solution for water-stressed paddy
    • As against up to 5,000 litres of water required to produce one kg of wetland rice, the aerobic rice requires only up to 2,500
    • Aerobic rice is direct-seeded into the field, eliminating the cost of raising nursery, transplantation and its related impact on labour health.
  1. The Tripura government launched the GPS (Global Positioning System)and wireless-based 24×7 “mobile policing” service to control crime, mainly against women.
    • As per the ‘mobile policing’ service, a police van or a small vehicle with police personnel will be patrolling 24*7 in their assigned zone.
  1. India is among the top performing markets in Asia in local currency terms, but not in dollar terms.
    • Foreign institutional investors (FIIs) have sold a net of $238.5 million of Indian shares so far this year.
    • India’s benchmark Sensex has returned 6% so far this year, the best among the major markets in Asia in local currency terms.
    • In dollar terms, however, it has shed 71%, lagging behind markets in Japan, Taiwan, Malaysia and Singapore.

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BANKING AND ECONOMY

  1. The Reserve Bank has eased investment norms for Foreign Portfolio Investors (FPIs) in Debt, especially into individual large corporates.
    • It increased the FPIs cap on investment in government security to 30 percent of the outstanding stock of that security, from 20 percent earlier.
    • FPIs were allowed to invest in government bonds with a minimum residual maturity of three 
    • FPIs are permitted to invest in Government securities (G-secs), including treasury bills, and SDLs without any minimum residual maturity requirement, subject to the condition that short-term investments( Investments with maturity of one year) by an FPI under either category shall not exceed 20 per cent of the total investment of that FPI in that category.
    • FPIs were permitted to invest in government securities till the limit utilization reaches 90 percent.
  1. Banks Board Bureau (BBB) has recommended 22 general managers to be elevated as executive directors at the various Public Sector Banks (PSBs).
    • This is the first major exercise undertaken by reconstituted BBB, headed by newly appointed Chairman BP Sharma.
    • BBB is super authority (autonomous and self-governing body) of Central Government comprising eminent professionals and officials to improve governance of PSBs.
    • It was announced by Union Government in August 2015 as part of seven point Indradhanush Mission to revamp PSBs.

 

IMPORTANT DAYS

  1. On 18th June 2018, International Picnic Day was celebrated all over the world.
  2. On 18th June 2018, the Sustainable Gastronomy Day was observed all over the world.

 

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