DAILY CURRENT AFFAIRS: APRIL 24, 2018

NATIONAL

Uttarakhand to get 1,700 crore rupees aid from ADB

The Asian Development Bank (ADB) has agreed in principle to give an aid of 1,700 crore rupees to Uttarakhand.

It aims for infrastructure development and creation of sewerage treatment facilities in urban areas.

This was conveyed to Chief Minister Trivendra Singh Rawat by the country director of ADB’s India Regiment Mission Kenichi Yokoyama.

The Asian Development Bank (ADB) is a regional development bank established on 19 December 1966 with 67 member countries.

ADB

Headquarters: Manila, Philippines

President: Takehiko Nakao

Uttarakhand

Capital: Dehradun

Governor: Krishan Kant Paul

Nitish Kumar Launches three books on Champaran movement

Bihar Chief Minister Nitish Kumar released three books based on Mahatma Gandhi’s Champaran movement of 1917.

The Champaran movement is acknowledged as the first Satyagraha movement inspired by Mahatma Gandhi.

Nitish Kumar released the books titled- ‘Mister M K Gandhi Ki Champaran Diary’ written by Arvind Mohan, ‘Champaran Andolan 1917’ edited by Ashutosh Partheshwar and ‘Pir Muhammad Munis: Kalam Ka Satyagrahi’ collected and edited by Srikant.

Bihar

Capital: Patna

Governor: Satya Pal Malik

India pitches for independent BRICS credit rating agency

India has pressed the BRICS nations to set up an independent rating agency of the five-member group.

The first meeting of the BRICS Finance Ministers and Central Bank Governors was held on the sidelines of the IMF/World Bank Spring Meetings.

The BRICS countries have already set up New Development Bank, whichh became operational in 2015, to meet funding requirements of the members.

Economic Affairs Secretary: Subhash Chandra Garg.

India had first mooted the idea of having such an agency for the Brics (Brazil, Russia, India, China, South Africa) grouping.

India’s Best Gram Panchayat: Bengal’s Digambarpur

West Bengal has once again topped in the country with Digambarpur Gram Panchayat (GP) bagging the Centre’s award for the best Gram Panchayat in the country.

Digambarpur GP at Patharpratima block in South 24-Parganas has come up as the best out of 2.5 lakh Gram Panchayats in the country.

The survey was conducted by the Ministry of Panchayati Raj.

Bengal is first in implementing the scheme of 100 days work in rural employment creation. It has reduced 40 percent unemployment and now the best Panchayat is also in Bengal.

INTERNATIONAL

Miguel Diaz Cuba’s New President

Cuba’s National Assembly has elected Cuba’s First Vice President Miguel Díaz-Canel.

He would replace 87-year-old Raúl Castro, who took over as Cuba’s leader in 2006.

Cuba

Capital: Havana

Currency: Peso

Iran Bans bank from use of cryptocurrency

Iran has banned the use of bitcoin and other cryptocurrencies by its banks and financial institutions.

The central bank has announced that the use of bitcoin and other cryptocurrencies in all the country’s monetary and financial centres was banned.

It said the government’s money-laundering committee had taken the decision in late December and it was now being put into effect.

The government’s money laundering committee had taken the decision in late December and it was now being put into effect.

A cryptocurrency (or crypto currency) is a digital asset designed to work as a medium of exchange that uses cryptography.

Iran

Capital: Tehran

Currency: Iranian rial

President: Hassan Rouhani

BANKING AND ECONOMY

India’s GDP To Reach $5 Trillion By 2025

India is poised to remain the fastest growing large economy in the world, and its GDP is expected to reach $5 trillion by 2025.

Subhash Chandra Garg is leading the Indian delegation for the annual Spring Meeting of the International Monetary Fund and the World Bank.

In 2018, we expect India to grow at over 7.4%,” economic affairs secretary Subhash Chandra Garg told the 97th meeting of the Development Committee of the World Bank in Washington.

Transformational reforms such as Goods and Services Tax (GST), and initiatives such as Insolvency and Bankruptcy code, recapitalisation of banks, and unclogging of infrastructure investments will support such elevated growth.

India highest recipient of Remittances in 2017: World Bank

India retained the top position as recipient of remittances with its diaspora sending about USD 69 billion back home last year.

Remittances to India picked up sharply by 9.9 per cent, reversing the previous year’s dip.

India continued to top in terms of receiving remittance, and was followed by China (USD 64 billion), the Philippines (USD 33 billion), Mexico (USD 31 billion), Nigeria (USD 22 billion), and Egypt (USD 20 billion).

Indian Remittances are expected to continue to increase in 2018, by 4.1 per cent to reach USD 485 billion. Global remittances are expected to grow 4.6 per cent to USD 642 billion in 2018.

SPORTS

Rafael Nadal won 11th Monte Carlo Masters Title

Rafael Nadal has won the Monte Carlo Masters Title. Finally, he has won a record 31st Masters title.

Nadal also became the first man in the Open era to win the same title 11 times.

He has defeated  Kei Nishikori to clinch the title. It gave him a 76th title overall.