World Bank approves Rs. 6,000 crore Atal Bhujal Yojana’
The World Bank has approved Atal Bhujal Yojana (ABHY), a Rs.6000 crore Central Sector Scheme of the Ministry of Water Resources, River Development and Ganga Rejuvenation. The scheme is to be implemented over a period of five years from 2018-19 to 2022-23, with World Bank assistance. The scheme proposal has already been recommended by the Expenditure Finance Committee and the Ministry will be seeking Cabinet approval for the project shortly.
Ministry of Railways PSU IRCTC introduces bagasse based food packaging to commemorate World Environment Day 2018.
As World Environment Day 2018 celebrations kick off in India, Ministry of Railways PSU IRCTC launched its trial run of environment friendly bagasse based food packaging on 8 select Shatabdis and Rajdhanis originating from New Delhi. Passengers in these trains will be served meals on eco-friendly disposable plates (compostable containers) instead of the polymer ones as part of the Railways’ drive to go green
Virat Kohli Only Indian In Worlds Highest Paid Athletes List
India cricket captain Virat Kohli is among the world’s highest-paid athletes, according to a Forbes’ compilation topped by American boxing champion Floyd Mayweather. Kohli, the only sportsperson from India to be featured in the list, is ranked 83rd with earnings of USD 24 million. Kohli is not just cricket-crazy India’s biggest name but is also one of the most popular athletes in the world. The ‘World’s Highest-Paid Athletes 2018’ list is topped by 41-year-old Mayweather, with USD 285 million earnings.
Polythene To Be Completely Prohibited From 31st July In Uttarakhand
In Uttarakhand, Polythene will be completely prohibited from 31st July in the state. All the polythene vendors have been asked to finish the polyethylene stock before 31st July. In Dehradun on the occasion of World Environment Day, Chief Minister Trivendra Singh Rawat stated, a comprehensive public awareness campaign will be launched on environmental damage caused by polythene, one week before the entire ban on polythene in the state.
Andhra Pradesh inks pact with Maharashtra to develop Fintech ecosystem
Andhra Pradesh IT Minister Nara Lokesh took to Twitter and shared the details about the same. The Minister termed Mumbai and Vizag as the driving force behind the Fintech platform. Lokesh hoped that new association will pave the way for enhanced financial technology innovation in both the states.
Maharashtra Government announces financial aid for tur farmers
Maharashtra government will provide a financial grant of 1,000 rupees per quintal to those farmers whose tur and gram could not be purchased by the administration before the May 31 deadline. The state government had set up tur procurement target of 44.6 lakh quintals. The government had started purchasing tur from farmers by offering them guaranteed rates following bumper tur production. Speaking to reporters after a weekly cabinet meeting, Chief Minister Devendra Fadnavis said the government will also give a financial aid of 160 crore rupees to farmers whose crops got damaged due to unseasonal rain or hailstorm. The chief minister also announced a special subsidy for milk producers.
Union Government forms 3 key panels for museum of Prime Ministers Project
In a major push towards setting up a unique museum in Delhi on the ‘Prime Ministers of India’, the Culture Ministry formed three high-powered panels that will work to implement the project. The three committees, one will focus on project implementation, while the other two will concentrate on choice and development of content for the one-of-its-kind museum. The Ministry planning to set up a modern museum that will tell the story of all the Prime Ministers of the country at the premises of the iconic Teen Murti Estate, which was the official residence of first Prime Minister Jawaharlal Nehru.
Reserve Bank of India to announce its second bi-monthly Monetary Policy of 2018-19
The Reserve Bank of India (RBI) will announce its second bi-monthly Monetary Policy of 2018-19. The Monetary Policy Committee, headed by RBI Governor Urjit Patel, began its meeting in Mumbai on Monday, and it will meet today as well before the policy will be announced. This is the first time the six-member committee is meeting for three days instead of the usual two, due to certain administrative exigencies. In the first bi-monthly policy of the current fiscal, the central bank had, in April, kept all its key rates unchanged for the fourth time in a row. The repo rate, at which RBI lends short-term money to other banks, currently stands at 6 percent, while the reverse repo rate, at which it borrows from banks, is 5.75 percent. The last rate hike was announced by RBI in January 2014 when the repo rate was increased to 8 percent. Since then, the apex bank has either reduced the rate or maintained status quo.
French Swimmer Begins Record Pacific Crossing Attempt
A French swimmer set off from Japan aiming to become the first person to swim across the Pacific Ocean. Ben Lecomte will swim for eight hours a day for more than six months as he heads towards the US west coast. He is hoping to raise awareness for climate change. A team of scientists will conduct research during the almost 8,850-kilometre swim.
MK Jain appointed as RBI Deputy Governor
The Centre appointed MK Jain, Managing Director, and CEO of IDBI Bank, as the RBI’s Deputy Governor. Jain will fill a position that had been lying vacant since August 2017 after the retirement of SS Mundra. With the appointment of Jain, the Centre has stuck to the tradition of having a commercial banker occupy this post of RBI Deputy Governor (reserved for bankers). The central bank now has four serving RBI Deputy Governors. Jain has been appointed for a term of three years.
Union Government announces Rs. 8,000-Crore Package For Sugarcane Farmers
The Union government announced a package of more than Rs 8,000 crore aimed to provide relief to sugarcane farmers and to clear their dues. According to a government official, the package includes three elements. A buffer stock of 30 LMT (lakh metric tonnes) of sugar will be created with Rs 1,200 crore. This money will be directly transferred to accounts of sugarcane farmers. Rs 4,400 crore will be used to increase ethanol production to divert sugarcane away from sugar mills which are unable to dispose of their inventories. The government has also decided to ensure a minimum sale price of Rs 29/kg for sugar.
Ensurity ties up with Swedish firm for USB devices
Fingerprints & Card, a Swedish biometrics solutions firm, has joined hands with Ensurity Technologies, a Hyderabad-based cyber security solutions company, to bring smart USB devices under the ThinC brand to the Indian market by this month-end.