Current Affairs Assam – September 8-14, 2018
( Covers all important Assam Current Affairs & GK topics for the week of September 8-14, 2018 )
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September 8
Japan to conduct world’s first test of space elevator
- Japanese researchers will conduct the world’s first experiment to test a prototype of a space elevator in space by using two mini satellites.
- The test equipment will be launched by Japan’s space agency on board of H-2B rocket from the southern island of Tanegashima.
- Two ultra-small cubic satellites developed by Shizuoka University Faculty of Engineering will be used for demonstration of space elevator technology. Each satellite measures 10 centimeters on each side.
- The pair of satellites will be released from the International Space Station (ISS) and the container acting like elevator car will be moved on a cable connecting satellites using motor.
FACTFILE – Space Elevator
- It is a proposed type of planet-to-space transportation system.
- Its components mainly are cable anchored to the surface of the planet and extending into space.
- It will permit vehicles to travel along cable from planetary surface, without the use of large rockets.
- The idea of space elevator was first proposed in 1895 by Russian scientist Konstantin Tsiolkovsky after he saw the Eiffel Tower in Paris and later by Arthur C. Clarke.
- The one end of the cable of space elevator will be attached near to surface and the other end in space beyond the geostationary orbit.
- Once cable (tether) is deployed at a fixed position, climbers can repeatedly climb it to venture into space by mechanical means, releasing their cargo to orbit.
Airtel Payments Bank enables card-less withdrawal at ATMs
- Airtel Payments Bank started card-less withdraw of cash at ATMs across the country without using the debit or credit card.The customers would be able to withdraw cash through mobile phone using USSD, a communication technology and the “MyAirtel” app.
- Airtel Payments Bank has tied up with cloud-based payment solution provider, Empays, for the service.The bank would use Empays’ cardless technology, Instant Money Transfer (IMT) to provide the cardless withdrawal service.The customers can generate a cash withdrawal request which can be used for withdrawal at any of the IMT-enabled ATMs.
FACTFILE – Airtel Payments Bank
- Airtel Payments BankLimited is a public limited company.
- It was the first company in India to receive a payments bank license from the Reserve Bank of India.
- Airtel Payments Bank is a joint venture between BhartiAirtel Ltd. and Kotak Mahindra Bank Ltd..Kotak Mahindra Bank holds 19.9% stake in the Airtel Payments Bank.
- AirTel Money is a digital wallet by AirTel Payment Bank that lets users make payments using “My Airtel app” or USSD.
- Airtel mobile number is the account number of the wallet, so Airtel mobile number is mandatory to use the service.
Mega tree plantation launched by Delhi CM Kejriwal
- Delhi Chief Minister Arvind Kejriwal 9thsep launched a mega tree plantation drive by planting a sapling at the Yamuna floodplain in Usmanpur village, with thousands others joining him in the initiative.The government wants to plant 5 lakh trees and shrubs in the city in a day as part of the drive.
- Around one lakh students and residents are participating in the campaign at 600 locations across the city to fight air pollution. A large number of school children attended the tree plantation event held at Yamuna flood plains at GarhiMandu in Usmanpur.
- The Delhi government’s Environment and Forest Secretary A K Singh said the target is to plant 32.5 lakh trees in the current year. So far, around 15 lakh have been planted.
HDFC Bank raises MCLR across tenures, 1-year MCLR at 8.6%
- HDFC Bank increased its marginal cost of funds based lending rate or MCLR by 20 basis points across tenures.
- One basis point (1bps) is one-hundredth of a percentage point. Subsequent to the hike, bank’s one-year MCLR is 8.6%.
- Earlier in this week, SBI, ICICI Bank and BOB hiked MCLR rate by 20, 15 and 5 bps, respectively.
- The one-year MCLR at SBI stands at 8.45% while for ICICI Bank and BOB, the revised MCLR rate is same at 8.55%.
- The rise in MCLR will make home, auto and other loans costlier for customers.
FACTFILE – Marginal Cost of Funds Based Lending Rate(MCLR)
- The Marginal Cost Of Funds Based Lending Rate (MCLR) refers to minimum interest rate of a bank below which it cannot lend, except in some cases allowed by the RBI.
- It is an internal benchmark or reference rate for the bank.
- MCLR actually describes the method by which the minimum interest rate for loans is determined by a bank – on the basis of marginal cost or the additional or incremental cost of arranging one more rupee to the prospective borrower.
- The MCLR methodology for fixing interest rates for advances was introduced by the Reserve Bank of India with effect from April 1, 2016. This new methodology replaces the base ratesystem introduced in July 2010.
- Allrupee loans sanctioned and credit limits renewed w.e.f. April 1, 2016 would be priced with reference to the Marginal Cost of Funds based Lending Rate (MCLR) which will be the internal benchmark (means a reference rate determined internally by the bank) for such purposes.
September 9
RBI to auction state government securities for Rs 8650 crore
- The Reserve Bank of India said that State Governments have offered to sell securities by way of auction for an aggregate amount of Rs 8650 crore. The auction will be conducted on the Reserve Bank of India Core Banking Solution (E-Kuber) system on September 11, 2018.
- The Government Stock up to 10 per cent of the notified amount of the sale of each of the stock will be allotted to eligible individuals and institutions subject to a maximum limit of 1% of its notified amount for a single bid per stock as per the Scheme for Non-competitive Bidding Facility
- Both competitive and non-competitive bids for the auction should be submitted in electronic format on the Reserve Bank of India Core Banking Solution (E-Kuber) system on September 11, 2018
- The non-competitive bids should be submitted between 10.30 A.M. and 11.30 A.M. and the competitive bids should be submitted between 10.30 A.M. and 12.00 noon.
- Securities will be issued for a minimum nominal amount of Rs. 10,000.00 and multiples of Rs. 10,000.00 thereafter.
- The results of the auction will be announced on September 11, 2018 and payment by successful bidders will be made during banking hours on September 12, 2018 at Mumbai and at respective Regional Offices of RBI.
RBI as Banker to State Governments
- All the State Governments are required to maintain a minimum balance with the Reserve Bank, which varies from state to state depending on the relative size of the state budget and economic activity.
- To tide over temporary mismatches in the cash flow of receipts and payments, the Reserve Bank provides Ways and Means Advances/Overdraft to the State Governments.
- The WMA scheme for the State Governments has provision for Special Drawing Facility (SDF) and Normal WMA. The SDF is extended against the collateral of the government securities held by the State Government.
- To encourage the State’s participation to the Consolidated Sinking Fund and Guarantee Redemption Fund, incremental investments in these funds are also eligible to avail SDF.
- After the SDF limit is exhausted, the State Government is provided a normal WMA. The normal WMA limits are based on three-year average of actual revenue and capital expenditure of the state.
- The withdrawal beyond the WMA limit is considered an overdraft. A State Government account can be in overdraft for a maximum 14 consecutive working days with a limit of 36 days in a quarter.
India, Bulgaria signs five MoUs on various fields
- India and Bulgaria on 5th Sep signed five MoUs in the field of Investment, Tourism, Civil Nuclear Cooperation, Establishment of Hindi Chair at Sofia University and enhancing scientific cooperation.
- The five important MoUs were signed following the detailed talks between Indian delegations led by President Kovind and Bulgarian delegations.
- During the high-level meeting, President Ram Nath Kovind and his Bulgarian counterpart Rumen Radev held detailed talks on issues of mutual importance to the two countries including defence, IT sector and Make in India programme.
- President Ram Nath Kovind was on a three-nation visit to Europe. During his three day visit to Cyprus, the two countries signed two very important agreements in the field of Combating Money Laundering and Cooperation in Environment.
FACTFILE – Bulgaria–India relations
- Bulgaria has an embassy in New Delhi and honorary consulates in Hyderabad, Kolkata and Mumbai. The embassy is jointly accredited to Bangladesh, Nepal, Sri Lanka, the Maldives and Bhutan, and also observes the South Asian Association for Regional Cooperation (SAARC). India has an embassy in Sofia, that is also jointly accredited to Macedonia.
- In mid-1954, preliminary negotiations were held between Bulgaria and India in Moscow, and diplomatic relations were established in December 1954.
- Bulgaria opened a diplomatic mission (Legation) in New Delhi in April 1955. The mission was re-organized into an embassy in March 1961. India’s diplomatic representatives to Bulgaria resided in Belgrade and Bucharest from July 1955 until April 1970. India opened its embassy in Sofia in May 1970.
- Indira Gandhi became the first Indian Prime Minister to visit Bulgaria in October 1967. TodorZhivkov was the first Bulgarian Prime Minister to visit India in January 1969.
- The first bilateral protocol for trade exchange was signed between the two countries in New Delhi on 16 September 1956, and the first agreement for economic, scientific and technical cooperation was signed in Sofia on 2 May 1967. A Joint Commission for Economic, Scientific & Technical Cooperation (with sub-branches for machine-building, electronics, agriculture, chemistry, defense industry, food industry, etc.) was established in November 1973. In 1975, the first cultural agreement between Bulgaria and India.
- Bilateral trade between Bulgaria and India totaled $218.3 million in 2014.
Dibrugarh wins Pradhan Mantri Matritva Vandana Yojana Award
- Dibrugarh district bagged an award for its outstanding performance in implementation of the PradhanMantriMatritvaVandanaYojana in the country from the northeastern zone. The award, which was given in Dehradun, Uttarakhand, was announced by the Union Ministry of Women and Child Development.
- The award was jointly received by DebeshwarMallakar, Director of Social Welfare Department, JyotirekhaBorgohain, District Social Welfare Officer and Ranu Borah, Child Development Project Officer of ICDS, Borborooah on behalf of the district.
- The district stood second in overall performance.
FACTFILE – Pradhan Mantri Matritva Vandana Yojana
- It is a maternity benefit programme run by the Government of India and implemented by the Union Ministry of Women and Child Development.
- It is a conditional cash transfer scheme for pregnant and lactating women of 19 years of age or above for the first live birth.
- It provides partial wage compensation to women for wage-loss during childbirth and childcare and to provide conditions for safe delivery and good nutrition, besides feeding practices.
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