Current Affairs Assam – July 2018
( Covers all important Assam Current Affairs & GK topics for the month of July 2018 )
July 2018 – eBook Monthly PDF | July 2018 Quiz
Go To Assam Current Affairs Go To Assam Current Affairs Quiz
July 21
Thermal Coal imports surge 19% in the first quarter
India’s top 12 major ports reported a 19.32 percent surge in imports of thermal coal to 28.28 million tonnes during April-June this year. The centre-govt owned ports had handled 23.70 million tonnes of thermal coal in the corresponding period of the previous financial year.
Thermal coal is the mainstay of India’s energy programme as 70 percent of power generation is dependent on the dry fuel, while coking coal is used mainly for steel-making.
India is the third-largest producer of coal after China and the U.S. and has 299 billion tonnes of resources and 123 billion tonnes of proven reserves.
Major ports in India together recorded a growth of 3.91 percent and handled 174.02 MT of cargo during the period April to June 2018, as against 167.48 MT handled during the corresponding period of the previous year.
Corporation Bank to raise Rs 2,555 Crore
The Board of Directors of the Bank has approved the proposal to raise capital of the Bank by way of preferential allotment of equity shares to Govt of India to the extent of Rs 2,555 crore. The process to raise fund will be subject to all necessary approvals of RBI, SEBI, the central government and shareholders of the Bank.
The fundraising is part of the Finance Ministry’s plan to infuse of Rs 11,336 crore in five state-owned lenders including Punjab National Bank, Corporation Bank, and Andhra Bank to help them meet the regulatory capital requirement. This is the first capital infusion in the current fiscal and the remaining amount of Rs 53,664 crore will be disbursed during the course of the year.
Banks raise capital through AT1 bonds, which are perpetual in nature and therefore provide a higher interest rate to investors. A high level of bad loans and widening losses have made it difficult for banks to service these bonds from their own earnings.
The infusion will be part of the remaining Rs 65,000 crore out of Rs 2.11 lakh crore capital infusion over two financial years, which government had announced last year.
As per the plan, the public sector banks (PSBs) will get Rs 1.35 lakh crore through recapitalisation bonds, and the balance Rs 58,000 crore through raising of capital from the market.
Maharashtra Govt announces ₹21,222 crore special package for Vidarbha, Marathwada
Maharashtra government announced a special package of ₹21,222 crore for the underdeveloped Vidarbha and Marathwada regions of the state.
The state government would also set up a special facility in Nagpur to monitor the implementation of the package. The focus would be on the development of industries, irrigation facilities, agriculture and tourism in these two regions.
A milk collection network and processing facilities would be created, Mungantiwar. New government milk brand “Gondavana” would be created on the lines of the Mahananda brand.
A “skill university” would be set up at Aurangabad, while hostels would be constructed in all 19 districts of Vidarbha and Marathwada.
July 2018 – eBook Monthly PDF | July 2018 Quiz
Go To Assam Current Affairs Go To Assam Current Affairs Quiz
