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Current Affairs 12th April 2018

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PSLV-C41 successfully launches IRNSS-1I navigation satellite

In its forty third flight, ISRO’s Polar Satellite Launch Vehicle PSLV-C41 successfully launched the 1,425 kg IRNSS-1I Navigation Satellite today from Satish Dhawan Space Centre SHAR, Sriharikota.

PSLV-C41 lifted off at 0404 hrs (4:04 am) IST, as planned, from the First Launch Pad.  After a flight lasting about 19 minutes, the vehicle achieved a Sub-Geosynchronous Transfer Orbit with a perigee (nearest point to earth) of 281.5 km and an apogee (farthest point to earth) of 20,730 km inclined at an angle of 19.2 degree to the equator following which IRNSS-1I separated from PSLV.


Cyient forms JV with Israel’s BlueBird Aero for UAV systems

Cyient Limited on Wednesday said it entered into a joint venture with Israel-based BluBird Aero Systems to offer field-proven unmanned aerial vehicle (UAV) systems to Indian defence, paramilitary, security, and police forces.

The joint venture, named Cyient Solutions and Systems Private Limited, has 51 per cent and 49 per cent shareholding by Cyient and BlueBird respectively, a press release from Cyient said.0


Tech Mahindra, Balbix tie up for AI-based cyber security platform

Tech Mahindra on Tuesday said it has entered into a strategic partnership with Silicon Valley-based Balbix for launching an artificial intelligence-powered threat assessment platform to check cyber security breaches.

The Tech Mahindra and Balbix platform uses deep learning and specialised AI algorithms to predict how attacks can happen and propagate, providing actionable insights to mitigate the risk of breach.


India to grow 7.3% this fiscal, 7.6% in next: ADB

Reversing two years of declining growth, Indian economy is set to expand 7.3 per cent in 2018-19 and 7.6 per cent in 2019-20, aided by various growth oriented new policy measures, says a new Asian Development Bank (ADB) report.

In its latest Asian Development Outlook (ADO) 2018 report, the Manila-based Bank said that dip in GDP growth to 6.6 per cent in 2017-18 was driven in part by lingering effects of demonetisation, which impacted the informal sector in the first half of 2017-18.


Sundyota ties up with Italian firm to launch probiotic products in India

As a non-medicinal answer to the gastrointestinal problems such as diarrhoea, Irritable Bowel Syndrome (IBS) or Inflammatory Bowel Disease (IBD), the Ahmedabad-based Sundyota Numandis has tied up with Italian Probiotical to offer world’s most researched probiotic product, Lactobacillus rhamnosus GG, in Indian market.


L&T, BEL sign MoU for defence products

Infrastructure major Larsen and Toubro (L&T) and state-owned Bharat Electronics Ltd (BEL) today entered into a pact to develop and manufacture defence products and systems for domestic and export markets.

The MoU seeks to leverage the capabilities of both the firms for meeting the growing requirements of the Indian Armed Forces, Larsen and Toubro (L&T) .


Balram Bhargava appointed as New DG Of ICMR

Balram Bhargava appointed as the new Director-General of the Indian Council of Medical Research (ICMR) and Secretary of the Department of Health Research. Bhargava, currently a senior consultant cardiologist at the All India Institute of Medical Science, will carry out this role until 2021. He will succeed Soumya Swaminathan.


J&K Bank Launches Special Financing Scheme For Industrial Units

Jammu and Kashmir Bank launched a special financing scheme named ‘Add-on Working Capital GST’ to help the state industry cope with the delay in reimbursement of GST under special tax relief. The scheme was launched by J&K Finance Minister Syed Altaf Bukhari.


Singapore and China Signed MoU Along Belt And Road Initiative

Singapore and China signed a MoU in Beijing, China to promote greater collaboration between Singapore and Chinese companies in third-party markets along the Belt and Road.  Under the MOU, the Ministry of Trade and Industry (MTI), NDRC (China’s lead agency for BRI) and Enterprise Singapore will form a working group to identify sectors and markets of mutual interest, and organise business matching activities and forums to facilitate third-party market cooperation between Singapore and Chinese companies along the Belt and Road.


AIIB decides to invest $140M to improve Rural Connectivity in India

Approximately 1.5 Million rural residents in State of Madhya Pradesh are going to directly benefit from improved livelihoods, education and mobility with the USD 140-Million loan approved by the Board of Directors of the Asian Infrastructure Investment Bank (AIIB) in a Meeting held recently in Beijing. The Project, co-financed with the World Bank, aims to improve the rural road connectivity and management for residents of about 5,640 villages who use the rural roads for daily activities.


NHAI signs agreement for its First International Project

To provide seamless vehicular movement for enhancing trade, business, health, education and tourism between Indian, Myanmar and Thailand, the National Highways Authority of India has signed an agreement for upgradation of Yagyi – Kalewa section of highway (Milepost 40/0 to Milepost 115/5) in Myanmar to two lane with earthen shoulder.  The agreement was signed yesterday by NHAI with M/s Punj Lloyd Ltd. – Varaha Infra Ltd. (JV).  The project has been funded by Ministry of External Affairs, Government of India and would be executed on EPC mode at a cost of Rs.1177 crores.


Centre Releases Rs. 23,147 Crore under MGNREGS

In the 2nd week of the current Financial Year, Ministry of Rural Development has already released Rs. 23,147 crore to various States/UTs under Mahatma Gandhi National Rural Employment Guarantee Scheme. The funds, besides clearing all wage and payment liabilities of previous year, will also ensure smooth implementation of the scheme in the coming months of FY 2018-19.

In line with the commitment of Central Government towards release of funds by 10th April, 2018, the Ministry has released Rs. 14,995 crore for wages and Rs. 8,152 crore for material expenditure under MGNREGS. This release includes the amount pending as liability for the work done in the last weeks of FY 2017-18.


Prime Minister to Inaugurate ‘Dr. Ambedkar National Memorial’ In Delhi

The Prime Minister, Shri Narendra Modi will inaugurate tomorrow the “Dr. Ambedkar National Memorial (DANM)” at 26, Alipore Road, Delhi at the place of Mahaparinirvana of Dr. Ambedkar. The memorial is dedicated to the life and contributions of Dr. Ambedkar, the principal architect of the Constitution of India. The Foundation stone of DANM was laid by the Prime Minister on 21st March, 2016

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