PM, Korean President, inaugurate world’s largest mobile manufacturing facility in Noida
PM Narendra Modi, and the President of the Republic of Korea, Mr. Moon Jae-in, on 8th July jointly inaugurated a large mobile manufacturing facility of Samsung India Electronics Pvt. Ltd, at Noida. Speaking on the occasion, the Prime Minister described the occasion as a special one, in the journey to make India a global manufacturing hub. He said the investment of about Rs. 5000 crore, would not only strengthen Samsung’s business links with India but is also significant in the context of the relationship between India and Korea.
Himachal Pradesh imposes the complete ban on plastic polythene
The local traders have welcomed the Himachal Pradesh government’s recent notification of banning the use and sale of thermocol cutlery across the state. To save the environment from degradation, Governor, Acharya Devvrat, on Saturday banned the use of thermocol cutlery, including cups, plates, glasses, and spoons or any other item in the state. It should be noted Himachal Pradesh was the first state in the country to ban plastic and polythene carry bags in 2009.
Gujarat’s Jewish community gets religious minority status
The Gujarat government has granted religious minority status to the Jewish community in the state. The GR to this effect was issued on July 6 by the state’s Department of Social Justice and Empowerment. Chief Minister Vijay Rupani, during his trip to Israel last month, had announced that his government was in the process of granting religious minority status to the community. Gujarat had also hosted Israeli Prime Minister Benjamin Netanyahu during his six-day India visit in January this year.
Government declares 6 educational ‘Institutions of Eminence’ ; 3 Institutions from Public Sector and 3 from Private Sector shortlisted
The Government has shortlisted Six Institutions of Eminence (IoEs) including 3 from Public Sector and 3 from Private Sector. An Empowered Expert Committee (EEC) in its report recommended selection of 6 institutions (3 from the public sector and 3 from the private sector) as Institutions of Eminence. The details of these Institutions are as under:
Public Sector: (i) Indian Institute of Science, Bangalore, Karnataka; (ii) Indian Institute of Technology, Bombay, Maharashtra; and (iii) Indian Institute of Technology, Delhi.
Private Sector: (i) Jio Institute (Reliance Foundation), Pune under Green Field Category; (ii) Birla Institute of Technology & Sciences, Pilani, Rajasthan; and (iii) Manipal Academy of Higher Education, Manipal, Karnataka.
India, South Korea Sign 5 MoUs in Science & Technology
India and South Korea signed five MoUs in the field of Science & Technology. Union Minister for Science & Technology, Dr. Harsh Vardhan and his South Korean counterpart, Mr. You Young Min signed three MoUs for (i) Programme of Cooperation 2018-21; (ii) Establishment of Future Strategy Group; (iii) Cooperation in Biotechnology & Bioeconomy. The MoU on Establishment of Future Strategy Group was signed by Indian Science & Technology and Commerce Ministers, while on the Korean side, it was signed by Science and ICT and Trade Ministers. Two other MoUs were signed between Council of Scientific & Industrial Research (CSIR), and South Korean National Research Council for Science & Technology and IIT Mumbai and Korea Institute of Science & Technology, to further accelerate future-oriented cooperation in their respective sectors. The MoUs were signed at the conclusion of the 4th India-Korea Science & Technology Ministers Steering Committee Meeting.
RBI raises Centre’s WMA advances to Rs 70,000 crore for Q2
The Reserve Bank has set the ‘ways and means advances‘ (WMA) limit at Rs 70,000 crore for the central government for the July-September quarter, up from Rs 60,000 crore in the previous quarter. ‘WMA’ are temporary advances given by the RBI to the government to tide over any mismatch in receipts and payments. “It has been decided, in consultation with the Government of India, that the limits for Ways and Means Advances (WMA) for the second quarter of the financial year 2018-19 (July 2018 to September 2018) will be Rs 70,000 crore,” the RBI said in a statement. The interest rate on WMA will be same as that of the prevailing repo rate (benchmark short-term lending rate).
RBI cancels licence of Alwar Urban Co-operative Bank
The RBI recently said the licence of Alwar Urban Co-operative Bank in Alwar, Rajasthan has been canceled as it is not in a position to pay its depositors in full as and when their claims accrue, among other reasons. The present financial position of the bank leaves no scope for its revival, the RBI said, adding that the cancellation of the licence is effective from the close of business on July 5. “On liquidation, every depositor is entitled to repayment of his/her deposits up to a monetary ceiling of Rs 1,00,000 from the Deposit Insurance and Credit Guarantee Corporation (DICGC) as per usual terms and conditions,” the central bank said.
Equity mutual fund inflows rise 15% in Q1 to Rs 33,000 crore
Equity mutual funds saw an inflow of nearly Rs 33,000 crore in the first quarter of the current fiscal, a surge of 15 percent year-on-year, underpinned by strong participation from retail investors, especially in small towns. In comparison, equity funds, which also include equity-linked saving schemes (ELSS) and arbitrage funds, saw a net inflow of Rs 28,332 crore in the April-June period of last financial year, according to Association of Mutual Funds in India (AMFI).
Spain appoint ex-Barcelona coach as manager
Ex-Barcelona and Roma coach Luis Enrique has been appointed as Spain manager on a two-year contract. The 48-year-old former Spain midfielder replaces Fernando Hierro, who stepped down as interim boss on 8th July. He takes charge of a team that was knocked out of the World Cup at the last-16 stage on penalties by hosts Russia.
World Cities Summit held in Singapore
Singapore’s Deputy Prime Minister and Coordinating Minister for Economic and Social Policies Tharman Shanmugaratnam speaks at the opening plenary of the World Cities Summit, Singapore International Water Week and CleanEnviro Summit Singapore, in Singapore, on July 9, 2018.
Currency: Singapore dollar
Learn Two a Day:
Gandhi Stadium or Burlton Park or B.S.Bedi Stadium – Jalandhar, Punjab
Nathpa Jhakri Dam – on Sutlej river in Himachal Pradesh