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Current Affairs 2nd August 2018

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NHAI to Sign MoU with SBI Tomorrow for a Long Term, unsecured Loan of Rs 25,000 Crore

National Highways Authority of India (NHAI) is getting an unsecured loan of Rs 25,000 crore from State Bank of India for 10 years with 3 years of moratorium on repayments. This is the largest amount of loan to have been sanctioned to NHAI in one stroke by any institution. This is also the largest long term unsecured loan sanctioned by SBI at a time to any entity. An MoU in this regard will be signed between the two organizations in the presence of Shri Nitin Gadkari, Minister of Road Transport & Highways, Shipping, Water Resources, River Development & Ganga Rejuvenation in New Delhi tomorrow

NITI Aayog launches Move Hack, global mobility hackathon to crowdsource solutions for future of mobility in India

NITI Aayog has launched Move Hack, a global mobility hackathon to crowdsource solutions aimed at the future of mobility in India. Envisaged to be one of the largest hackathons globally, Move Hack is focused on 10 themes and structured over three legs: online, followed by Singapore leg, and the finals in New Delhi

Cabinet approves Extension of Concessional Financing Scheme (CFS) to support Indian Entities bidding for strategically important infrastructure projects abroad

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the first extension of Concessional Financing Scheme(CFS) to support Indian Entities bidding for strategically important infrastructure projects abroad.

Cabinet approves Re-structuring of the Agricultural Scientists’ Recruitment Board (ASRB)

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the proposal for restructuring of Agricultural Scientists’Recruitment Board (ASRB).

Cabinet approves: Raising of Extra Budgetary Resources (EBR) for Swachh Bharat Mission (Gramin) [SBM(G)] amounting up to Rs. 15,000 crore during the financial year 2018-19

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the following:

  1. Raising funds up to Rs.15,000 crore as Extra Budgetary Resources (EBR) (Gol Fully Serviced Bonds) for Swachh Bharat Mission (Gramin) [SBM(G)] during the financial year 2018-19 through NABARD.
  1. Expansion of the scope of work of the Society named International Centre for Drinking Water Quality to authorise it for receiving EBR funds for SBM(G), disbursement of the same to the Sates/UTs implementing agencies, and its repayment.
  1. To change the name of the Society to “National Centre for Drinking Water, Sanitation and Quality” in place of “International Centre for Drinking Water Quality”.

Cabinet approves Policy Framework for exploration and exploitation of Unconventional Hydrocarbons

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has approved the policy to permit exploration and exploitation of unconventional hydrocarbons such as Shale oil/gas, Coal Bed Methane (CBM) etc. It will be carried out under the existing Production Sharing Contracts (PSCs), CBM contracts and Nomination fields to encourage the existing Contractors in the licensed/leased area to unlock the potential of unconventional hydrocarbons in the existing acreages.

LIC to acquire controlling stake of IDBI Bank

The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approvedconveying of no objection to reduction in Government of India shareholding in IDBI Bank Limited to below 50% by dilution.  It has also approved acquisition of controlling stake by Life Insurance Corporation of India (LIC) as promoter in the bank through preferential allotment / open offer of equity, and relinquishment of management control by the Government in the bank

Cabinet approves opening of 13 new Kendriya Vidyalayas in seven States and opening of second Jawahar Navodaya Vidyalaya at Alot, District Ratlam, Madhya Pradesh

The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi has approved the proposal for opening of 13 new KendriyaVidyalayas (KVs) in seven States and a second JawaharNavodayaVidyalaya(JNV) in Alot, District Ratlam, Madhya Pradesh.

These 13 schools are in Banda (Uttar Pradesh), Washim (Maharashtra), Chakpikarong (Manipur), Parbhani (Maharashtra), Nawada (Bihar), Mirjapur (Uttar Pradesh), Bhadohi (“Uttar Pradesh), Palamau (Jharkhand), Siddipet (Telangana), Kudamalakunte, (Karnataka), CISF Surajpur (Uttar Pradesh), Devkund (Bihar) and Baoli (Uttar Pradesh).

Cabinet approves grant of Interest Free Loan equivalent to interest during construction component to fertilizer revival projects at Sindri, Gorakhpur and Barauni by Hindustan Urvarak and Rasayan Limited

The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi has approved the proposal of Department of Fertilizers to grant Interest Free Loan (IFL) equivalent to the interest during construction (IDC) component of Rs.422.28 crore, 415.77 crore and 419.77 crore for Gorakhpur, Sindri and Barauni projects respectively to Hindustan Urvarak and Rasayan Limited (HURL) fertilizer projects. 

The total value of the IFL will be Rs.1257.82 crore.  The IFL shall cover only the interest accrued during the scheduled period of construction and any escalation due to time or cost overrun will be borne by the JV Company.

Cabinet approves issue of fresh equity to the extent of 15% of the paid up equity capital by Hindustan Copper Limited

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi has given its approval for issue of fresh 13,87,82,700 equity shares to the extent of 15% of paid up equity capital efface value of Rs. 5/- each by Hindustan Copper Limited(HCL) through the Qualified Institutions Placement (QIP) route as per SEBI and other applicable guidelines.

Indo-German Government to Government Umbrella Agreements worth Euro 653.7 Million (approx. Rs. 5253 crore) on Financial Cooperation and Technical Cooperation 2017 were signed today in New Delhi

The Government to Government Umbrella Agreement on Financial Cooperation and Technical Cooperation 2017 under the Indo-German Bilateral Development Cooperation were signed here in New Delhi today. Government to Government Umbrella Agreement on Financial Cooperation was signed to formalise an amount of up to Euro 610 million Reduced Interest Loan (RIL) and Euro 5.5 million Financial grant and the Government to Government Umbrella Agreement on Technical Cooperation was signed to formalise an amount of up to Euro 38.20 million Technical grant for various projects mainly in the field of Energy, Environment and Urban Development. Hence, the total amount formalized through Umbrella

Nationwide ‘State Energy Efficiency Preparedness Index’ released; Andhra Pradesh, Kerala, Maharashtra, Punjab, and Rajasthan emerge as ‘Front Runner’ states

As part of its commitment to create awareness about energy efficiency as a resource and also to develop an action plan for energy conservation initiatives, Bureau of Energy Efficiency (BEE) and Alliance for an Energy Efficient Economy (AEEE), today released the ‘State Energy Efficiency Preparedness Index’, which assesses state policies and programmes aimed at improving energy efficiency across various sectors. The nationwide Index, which is a joint effort of the NITI Aayog and BEE, was launched by Mr. A.K. Bhalla, Secretary, Ministry of Power; Dr Ajay Mathur, DG, TERIin the presence of senior officials from the Ministry and BEE.

IWAI Turns Aggregator for Cargo Owners and Shippers; Launches Dedicated Portal

The Inland Waterways Authority of India (IWAI) yesterday launched a dedicated portal to connect cargo owners and shippers with real time data on availability of vessels. The landmark e-connect measure will enable direct interaction among the vessel operators, shippers and cargo owners as currently, there is no platform to know the availability of vessels in the market. It has been designed and developed by the in-house IT Department and the Traffic Wing of IWAI as part of its preparedness for optimal use of its ongoing capacity development on various National Waterways.

National Commission for Protection of Child Rights (NCPCR) to constitute ‘Mediation Cell’ for cases of child custody dispute in NRI marital discord

The Women and Child Development Ministry of the Central Government,  in pursuance to the power conferred Under Section 13(a) of the Commission for Protection of Child Rights Act  (CPCR) 2005, has directed the NCPCR to constitute a Mediation Cell, to resolve the cases of children who were taken away by one of the spouse without the permission of the other spouse due to marital discord or domestic violence from overseas country to India or vice versa and prepare parental plan taking into account the best interest of the child.

 

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