May 21, 2018

WORD OF THE DAY

INTEREST COVERAGE RATIO

A measure to determine the ease with which a company can honor interest payments on outstanding debt, out of its earnings before interest and taxes during a given period. A corporation’s ability to meet its interest obligations determines its solvency and is thus, a very important factor in returns for shareholders.

Courtesy: Mint

 

NATIONAL NEWS

  1. The Prime Minister Shri Narendra Modi inaugurated Kishanganga Hydroelectric project in Jammu & Kashmir.
    • Kishanganga Hydroelectric Project is located in the Bandipora District of Jammu & Kashmir.
    • Foundation for the Pakal Dam was also laid on the Marusadar River
    • Pakul Dam is the largest project and the first storage project of Jammu & Kashmir with 1000MW capacity
      1. It will give the Govt of Jammu and Kashmir 12% of the free power after 10 years of commissioning.
  1. The Central Reserve Police Force (CRPF) commissioned the Bastariya Battalion in Bastar district of Chhattisgarh.
    • The special unit was numbered as 241 and named as ‘Bastariya Battalion’
  2. Haryana Chief Minister Manohar Lal Khattar launched ‘Chatra Parivahan Suraksha Yojana’, developed for the safety of girl students in Haryana.
    • All the girl students will get free travel facility from their home to their educational institutions.
    • The state govt. will also constitute a special task force namely “Durgashakti Vahini” to minimize the crimes against women.
    • The tagline for this Yojana is “Mhare Haryane Ki Shaan, Ladka-Ladki Ek Saman”
  3. EESL (Energy Efficiency Services Limited)has announced that it has distributed over 30 crore LED bulbs across the country under government’s UJALA scheme (Unnat Jeevan by Affordable LEDs and Appliances for All)
    • The UJALA scheme was launched by the Prime Minister of India in January 2015with an aim to distribute energy efficient LED lightbulbs and reduce carbon emission by 33 to 35 percent within 
  4. IIT-Kanpur has set up India’s first advisory Centre for Energy Regulation (CER) with the help of government of United Kingdom.
  5. The Uttar Pradesh Institute of Design (UPID)will launch a mobile app, UPID App.
    • To help weavers in the state to market their products and come up with new design ideas. 
  6. The all-women crew of the Indian Navy on board INSV Tarini returned from expedition “Navika Sagar Parikrama” and landed at Mandovi in Goa
    • This is the first ever Indian female crew to navigate the world.
    • The circumnavigation was done in 254 days.
  7. UltraTech Cement Ltd., part of the Aditya Birla group will acquire the cement business of BK Birla group’s Century Textiles and Industries Ltd.
    • The enterprise value of Century’s Cement business is pegged at Rs 8,561 Crore
  8. Consumption growth in rural India has outpaced urban spending by the widest margin in five years.
    • Rural consumption rose by 7% in the year ended 31 March, faster than the 8.6% growth in urban spending, according to market researcher Nielsen
  1. The Pension Fund Regulatory and Development Authority (PFRDA) had set up the Bajpai committee in August 2010 to resurrect the NPS
    • Recommended an increase of equity allocation from 15% to 50% in government NPS

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INTERNATIONAL NEWS

  1. The 26th BASIC Ministerial meeting of Environment Ministers was held in Durban, South Africa.
    • Brazil, South Africa, India and China are termed as BASIC Countries
  2. An emergency summit of Organization of Islamic Cooperation (OIC) was held in Istanbul, Turkey
    • To discuss the recent Israeli violence against Palestanian protesters in Gaza Strip
    • It is the second largest inter-governmental organization after the UN with a membership of 57 states.
  3. China has launched Queqiao Satellite from Xichang Launch Center to explore the dark side of moon.
    • Queqiao is also known as Magpie Bridge.

 

BANKING AND ECONOMY

  1. The International Bank for Reconstruction and Development (IBRD)an arm of World Bank has extended $300 million loan to Energy Efficiency Services Limited EESL to scale up energy efficiency program.
    • Combination of two loans – $220 million and $80 million
    • The Aim of EESL program is to avoid lifetime greenhouse emissions of 170 million tonnes of CO2 and 10GW of additional generation capacity

 

  1. The government’s Bank Note Paper Mill India (BNPM) received Environment Clearance (EC) from Environment Ministry to increase production of bank note paper from 12,000 tonnes per annum (TPA) to 16,000 TPA at its Mysuru unit in Karnataka.
    • This company is a Joint Venture between Security Printing & Minting Corporation of India Limited (SPMCIL – A wholly owned Public Sector Undertaking of Government of India under Ministry of Finance) and Bharatiya Reserve Bank


IMPORTANT DAYS

  1. 20th of May 2018 is the first World Bee day
    • The first World Bee Day celebrating ceremony was held in Slovenia
    • Every year on this day, the attention of the global public will be drawn to the importance of preserving bees and other pollinators.
  2. On 21st May 2018, World Day for Cultural Diversity for Dialogue and Development was celebrated all over the world.

 

AWARDS

  1. Singer Asha Bhosle has been awarded the Highest Civilian award of West Bengal, Banga Bibhushan
    • Footballer Subrata Bhattacharya was presented the Banga Bhushan

 

SPORTS

  1. Rafael Nadal won the Italian Open in Rome, Italy reclaiming the No. 1 ranking.

 

MISCELLANEOUS

  1. Scientists of Chinese Academy of Sciences have discovered a fossilised body piece of an extinct class of marine animal named Cystoidea or Cystoids at Guizhou province, China.
    • The fossil dates back to 400 million years back. It was found out in Tongzi County.
  2. The Australian National University’ Scientists have discovered a 4,000 year old human cremation site along with pottery from the 12th or 13th century.