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Current Affairs 1st March 2018

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EESL to install energy-efficient LEDs across all airports in India-Signs MoU with Airports Authority of India to invest Rs. 24.41 crore on installation of LED lights across all airports, buildings and facilities of AAI

Energy Efficiency Services Limited (EESL), a joint venture of PSUs under the Ministry of Power signed a Memorandum of Understanding (MoU) here today, with the Airports Authority of India (AAI) for installing energy-efficient LED lights at airports, buildings and facilities owned by AAI across India. EESL will make the entire upfront investment of Rs. 24.41 crore on the project.

The MoU is signed under the Buildings Energy Efficiency Programme (BEEP). The entire procurement of lighting equipment, installation and maintenance will be undertaken by EESL without any cost burden on AAI. The project will be completed within 4 months from the date of signing a definitive Energy Performance Agreement (EPA).


First Mega Food Park in Maharashtra at Satara Inaugurated

The first Mega Food Park in the state of Maharashtra, M/s Satara Mega Food Park Pvt. Ltd. at Village Degaon, District Satarawas inaugurated today the 1stMarch, 2018 by Smt. Harsimrat Kaur Badal, Minister of Food Processing Industries in the presence of Shri DevendraFadnavis, Chief Minister, of Maharashtra. This is the 12th Mega Food Park operationalized in the country so far and the 10th operationalized during the tenure of present government.


Cabinet approves Fugitive Economic Offenders Bill, 2018-Offences worth Rs.100 crore or more under the Bill-Property of Fugitive Economic Offenders to be attached

The Union Cabinet chaired by Prime Minister Shri Narendra Modi, has approved the proposal of the Ministry of Finance to introduce the Fugitive Economic Offenders Bill, 2018  in Parliament.  The Bill would help in  laying down measures to deter economic offenders from evading the process of Indian law by remaining outside the jurisdiction of Indian courts.

The cases where the total value involved in such offences is Rs.100 crore or more, will come under the purview of this Bill.


Cabinet approves Establishment of National Financial Reporting Authority

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the proposal for establishment of National Financial Reporting Authority (NFRA) and creation of one post of Chairperson, three posts of full-time Members and one post of Secretary for NFRA.

The decision aims at establishment of NFRA as an independent regulator for the auditing profession which is one of the key changes brought in by the Companies Act, 2013. The inclusion of the provision in the Act was on the specific recommendations of the Standing Committee on Finance (in its 21st  report).


Air Marshal RKS Shera takes over as Air Officer-­in-­Charge Maintenance at Air Headquarters

Air Marshal RKS Shera AVSM VSM took over as Air Officer-in-charge Maintenance of Indian Air Force today.  He was commissioned in the Aeronautical Engineering Electronics Branch of Indian Air Force on 05 Jan 1981.  He is a post graduate from IIT Kanpur in Electrical Engineering.  He has been trained in Russia on MIG-29 aircraft at the time of fleet induction in 1986.  He is an alumnus of prestigious National Defence College (NDC). The Air Officer is a Fellow of Institute of Engineers, Institute of Electronics and Telecommunication and Aeronautical Society of India, besides being member of Computer Society of India.


List of MoUs/Agreements signed during the Visit of the King of Jordan to India

S. No. Name of MoUs/Agreements Description
1. MoU on Defence Cooperation Purpose of the MoU is to promote cooperation between India and Jordan in the field of Defence by defining the scope of such cooperation and making provisions for implementation of the cooperation in some of the recognized areas like training; defence industry; counter-terrorism; military studies; cyber security; military medical services, peace-keeping etc.
2. Visa waiver for diplomatic and official passport holders This Agreement provides for permitting the diplomats and Official passport holders of India and Jordan to enter into, exit and transit through the territory of each other without requirement of visa.
3. Cultural Exchange Programme (CEP) This programme for the period 2018-2022 provides for exchanges between India and Jordan in the areas of music and dance; theatre; exhibition, seminars and conference; archaeology; archives, library, museum, literature, research and documentation; Science museums; festivals; mass media, and; youth programs.
4. Manpower Cooperation Agreement This MoU provides for cooperation between India and Jordan with a view to promote best practices in the administration of the cycle of contract employment of the Indian nationals in Jordan.
5. MoU for cooperation in the field of Health and Medicine between India and Jordan The objective of this MoU is to establish and encourage cooperation in the fields of health, medical science, medical education and research on the basis of equality and mutual benefits in accordance with respective legislations and regulations of India and Jordan. The various recognized areas of mutual cooperation include Universal Health Coverage (UHC); Services and IT in Health; Health Research; National Health Statistics; Diagnosis, Treatment and Medication of TB, and; Regulation of Pharmaceuticals and Medical Devices etc.
6. MoU for setting up of the next generation Centre of Excellence (COE) in Jordan Purpose is to set up next generation Centre of Excellence (COE) in Jordan for training of minimum 3000 Jordanian IT professionals over a period of 5 years, and setting up of resource centre in India for Training of Master trainers in IT field from Jordan.
7. MoU for long term supply of Rock Phosphate and Fertilizer/NPK The purpose of the MoU is mining and beneficiation of rock phosphate and setting up of production facility in Jordan for Phosphoric acid/DAP/NPK fertilizers, with a long term agreement for 100% off-take to India. Such anMoU ensures long term and sustained supply of rock phosphates to India.
8. Customs Mutual Assistance Agreement This Agreement provides for mutual assistance between India and Jordan to ensure proper application of the customs legislations in the two countries to prevent custom offences and for smooth exchange of accurate information regarding custom duties, taxes, fees and other charges levied by custom administration.
9. Twining Agreement between Agra and Petra (Jordan) By this Agreement, the two municipalities of Agra and Petra pronounced to work jointly for promotion of social relations by identifying the activities for mutual cooperation in tourism, culture, sports and economic sectors.
10. Cooperation between Indian Institute of Mass Communication (IIMC) and Jordan Media Institute (JMI) The purpose of this MoU is development of joint projects between the two institutes; joint organization of academic and scientific activities, and; exchange of staff, students and materials of common interest.
11. MoU between PrasarBharati and Jordan TV This MoU provides for cooperation between PrasarBharati and Jordan Radio and TV Corporation to cooperate in the fields of exchange and co-production of programs, training of personnel and further coordination.
12. MoU between University of Jordan (UJ) and ICCR regarding setting up of a Hindi Chair at the University This MoU lays down the basis and other conditions for cooperation between ICCR and UJ in establishment and functioning of the ICCR Chair for Hindi language in UJ.


Western Naval Command Concludes Exercise Paschim Leher (XPL-18)

The Western Naval Command of the Indian Navy concluded a large scale operational exercise in the Arabian Sea. The three week long exercise termed Exercise ‘Paschim Leher’ (XPL), tested the operational readiness of the Western Naval Command and the execution of it’s operational plans.


world’s largest solar park set up at an investment of Rs.16,500 crore at Pavagada in Karnataka’s Tumakuru district

The world’s largest solar park set up at an investment of Rs.16,500 crore at Pavagada in Karnataka’s Tumakuru district was launched by Chief Minister Siddaramaiah today.The 2,000 MW park, named as ‘Shakti Sthala’, spans across 13,000 acres spread over five villages and is a benchmark in the unique people’s participation in power model put on ground, according to officials.The park’s development is anchored by the Karnataka Solar Power Development Corp. Ltd (KSPDCL), an entity formed in March 2015 as a joint venture between Karnataka Renewable Energy Development Ltd (KREDL) and Solar Energy Corp. of India (SECI).The project has been executed within a record time of two years, with zero land acquisition, Siddaramaiah said.Moreover, the farmers who have leased out their land are reaping greater benefits with Rs 21,000 per acre being offered as rental, an amount which has the scope to grow by five per cent every two years, he said.The beneficiaries of this project were 2,300 Pavagada farmers


Zomato raises $150 m from Alibaba arm

On the day its co-founder Pankaj Chaddah decided to move on, online food discovery and ordering platform Zomato raised $150 million (around Rs. 915 crore) in a fresh round from Alibaba’s financial service arm Ant Financial Services Group.

As part of the transaction, Ant Financial is also buying $50 million worth of shares from the BSE-listed Info Edge, also the parent company of Zomato, by taking the total investment from Ant in Zomato to $200 million.


TVS Auto Assist, Paytm Mall in pact for roadside assistance services

TVS Auto Assist (TVS AA), which offers 24X7 breakdown assistance service, and Paytm Mall have announced a partnership under which car and bike owners can purchase breakdown assistance services on Paytm Mall.

By visiting Paytm Mall and tapping on the ‘Roadside rescue’ service within the ‘Cars & Bikes’ category, users can buy breakdown assistance services of TVS AA, which is a 51:49 JV between TVS Automobile Solutions and The Automobile Association, UK.


RBI lifts per-borrower loan cap for MSMEs

In view of the increasing importance of the services sector and to encourage banks to lend more to this sector, the Reserve Bank of India has decided to do away with the per borrower loan limits to Micro/ Small and Medium Enterprises (Services) for classification under priority sector lending.

So far, loans to Micro/ Small and Medium Enterprises (Services) up to Rs. 5 crore and Rs. 10 crore, respectively, were classified as priority sector lending (PSL).


SRM University signs MoU with ICF

SRM University, AP-Amaravati and SRM Institute of Science and Technology have signed a MoU with Integral Coach Factory(ICF), Chennai, to create a fuel cell-based train prototype.

SRM will be responsible for conceptualising and creating energy storage systems, including fuel cells, batteries, super capacitors, DC/DC converters and control systems. ICF will develop equipment beyond DC link for switcher in coaches.


K S Dwivedi is new Bihar DGP

A political slugfest has erupted between the Nitish Kumar-led BJP-JD(U) government and opposition over the new Bihar Director General of Police. K S Dwivedi yesterday took over the charge as Director General of Police of the state. Opposition parties had slammed the move citing that Dwivedi was the Superintendent of Police of Bhagalpur during the 1989 communal riots during which over 1,000 people died. Home secretary Amir Subhani has said that Dwivedi got regular promotion following that incident and has reached the position of the DGP.


SOURCE- BusinessLine , The Hindu ,The Indian Express 

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