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Current Affairs 10th April 2018

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Fortune Wealth Management and Federal Bank in deal to offer PIS

Fortune Wealth Management Company India (P) Ltd has signed a pact with Federal Bank for providing Portfolio Investment Services (PIS) to non-resident Indians (NRIs).

“This agreement would enable the bank’s NRI clients to invest in Indian equity market on repatriable and non-repatriable basis, without losing the NRI status of their savings,” said Jose C Abraham, Managing Director, Fortune Wealth Management Co.


NCML sets up silo for maize in Bihar

The National Collateral Management Services Limited (NCML), a leading warehouse service provider, has inaugurated its public silo complex of 36,000 tonnes for storing maize at Purnia in Bihar .

Designed in line with global best practices, the silo complex is equipped with facilities like dryer and chiller for safe and efficient preservation of maize .


SBI to invest Rs 80 bn in hydropower project of Nepal

India’s largest bank, State Bank of India (SBI) will be investing a total of Rs 80 billion in the 900 megawatt (MW) Arun III hydropower project of Nepal.
The contract for constructing this project has been awarded to Sutlej Jal Vikas Nigam (SJVN) and SJVN has made an agreement with the SBI to acquire the investment as a loan


8th Theatre Olympics concludes in Mumbai

51-day long 8th Theatre Olympics, concluded in Mumbai on April 8, 2018. Theatre Olympics is the largest international theatre festival and was held in India for the first time.
8th edition of Theatre Olympics was inaugurated by Vice President M Venkaiah Naidu at the Red Fort, Delhi, on February 17, 2018


FPI Investment Limit In Government Securities Hiked

In a move that could temporarily soften bond yields, the Reserve Bank of India, in consultation with the Government, hiked the foreign portfolio investors (FPI) investment limit in Central government securities (G-Sec) from 5% of outstanding stock now to 5.5% in FY2019 and 6% in FY2020. The hike comes in the wake of 99.31% of the upper FII investment limit in G-Secs of Rs1,91,300 crore getting utilized. The FPI investment in State Development Loans (SDLs) has been left unchanged at 2% of outstanding stock of securities.


Conference On Water Environment And Climate Change Begins In Nepal

An international conference on ‘Water, Environment and Climate Change: Knowledge Sharing and Partnership’ started in Kathmandu, Nepal. The three-day event is being organized by the Department of Water Supply and Sewerage and Govt of Nepal. The basic objective of the conference is to bring together professionals, government and non-government institutions to discuss and deliberate on challenges related to water and environmental issues. More than 100 international participants from 20 different countries, including India, will attend the conference.


Deutsche Bank names Christian Sewing New CEO

Deutsche Bank AG named Christian Sewing as the Chief Executive officer of the Bank. He has replaced John Cryan. The Sewing will take over with immediate effect. Garth Ritchie was promoted to sole head of the securities unit and will become a deputy CEO, along with chief administrative officer Karl von Rohr.


Anushka Sharma to get Dadasaheb Phalke Excellence Award

Bollywood actor Anushka Sharma will be awarded the Dadasaheb Phalke Excellence Award for her successful movies as a producer. The award will be given by an organization called Dadasaheb Phalke Foundation, a Mumbai-based organization, which is different from the Government of India instituted Dadasaheb Phalke Award, awarded during National Awards ceremony held annually in New Delhi. The prestigious Dadasaheb Phalke Award is India’s highest cinematic honor.


President Ram Nath Kovind signed two agreements signed with Swaziland

President Ram Nath Kovind, on a three-nation Africa visit, held delegation-level talks with Swaziland King Mswati III in Mbabane. Both sides agreed on expanding the India- Swaziland partnership to accelerate growth and development. India and Swaziland signed two agreements on health and visa waiver. One of the agreement deals with granting of the visa waiver for the diplomats and officials holding relevant passports while the other is to ensure cooperation in the field of health and medicine. President Kovind was conferred with Order of the Lion, the highest award of Swaziland. After concluding the visit to Swaziland, President Kovind will visit Zambia, in the third and final leg of his visit.

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