DAILY CURRENT AFFAIRS: FEBRUARY 14, 2018
DAILY CURRENT AFFAIRS: FEBRUARY 14, 2018
Indian Navy Can Access to Duqm port in Oman
- The Indian Navy will now be able to use the facilities at Duqm port in Oman following the signing of a pact between the two countries.
- It is located in Arabian sea and now it can be used for military use and logistical support.
- The agreement provide facilities for the visit of Indian military vessels to Duqm port in terms of services and the use of the dry-dock for maintenance.
Prime Minister: Qaboos bin Said al Said
4th meeting of EAC-PM held in New Delhi
- The 4th meeting of the Economic Advisory Council to the Prime Minister (EAC-PM) was held in New Delhi.
- The meeting was held under the chairmanship of Dr Bibek Debroy, Economist.
- The Council discussed the possible modalities of implementing the National Health Scheme announced by the government in the Union Budget-2018-19.
Government of India Makes Amendments in Small Savings Act
- The government has made amendments in Small Saving Act, proposing the merger of Government Savings Certificates Act, 1959, Public Provident Fund Act, 1968 with the Government Savings Banks Act, 1873.
- The amendment will retain all existing protections while consolidating PPF Act under the proposed Government Savings Promotion Act.
- Is is to strengthen the objective of “Minimum Government, Maximum Governance”.
India-Russia Agriculture Business Summit held in New Delhi
- India and Russia discussed trade relations in the agricultural sector in a business summit in New Delhi.
- The Ministry of Agriculture & Farmers Welfare organised an India-Russia Agriculture Business Summit.
- A celebration of 70 years of Agricultural Relationship will also be held in Suratgarh, Rajasthan.
Currency: Russian Ruble
President: Vladimir Putin
Defence Ministry Approves Proposals Worth Rs. 15,935 crore
- The Defence Acquisition Council (DAC) chaired by Defence Minister Nirmala Sitharaman approved capital acquisition proposals of the defence services, valued at Rs 15,935 crore.
- The DAC also approved the procurement of seven lakh forty thousand assault rifles for the three services.These rifles will be made by the Ordnance Factory Board and the private industry at an estimated cost of Rs 12,280 crore.
- The DAC has also approved the procurement of 5719 sniper rifles for the army and the air force at an estimated cost of Rs 982 crore and Advanced Torpedo Decoy Systems (ATDS) at a cost of Rs. 850 crore.
The constituency of Defence Minister Nirmala Sitharaman: Karnataka, Rajya Sabha.
India and UAE signs Five MoU
- Prime Minister Narendra Modi held wide-ranging talks with Crown Prince of Abu Dhabi Mohamed bin Zayed Al Nahyan.
The 5 agreements are:
- MoU to institutionalise the collaborative administration of contractual employment of Indian workers in UAE.
- MoU for Technical Cooperation in Railways.
- MoU between Bombay Stock Exchange (BSE) and Abu Dhabi Securities Exchange (ADX)
- MoU between Indian Consortium (OVL, BPRL & IOCL) and ADNOC
- MoU between Government of Jammu and Kashmir and DP World: It seeks to establish multi-modal logistics park and hub in Jammu comprising warehouses and specialized storage solutions.
Capital: Abu Dhabi
Currency: United Arab Emirates dirham
BUSINESS AND ECONOMY
Bank of Baroda to Exit South Africa by March 31
- The State-owned Bank of Baroda announced that it has decided to exit by March-end its South Africa operations.
- The business of the bank in South Africa is not very significant and the exit will not have any major impact on its financials.The bank had initiated operations in South Africa about 21 years ago.
- The branch will stop taking new incremental deposits and disbursing loans with effect from March 1, 2018.
Bank of Baroda
CEO: P. S. Jayakumar
Growth Rate in Foreign Tourist Arrivals: 8.4%
- Foreign tourist arrivals (FTAs) witnessed a growth of 8.4% in January 2018 over January 2017, while the number of travellers on e-Tourist Visa saw 58.5% growth in the same period, according to Ministry of Tourism.
- The number of FTAs in January 2018 was 10.66 lakh as compared to FTAs of 9.83 lakh in January 2017.
- The percentage share of top 3 source countries availing e- Tourist Visa facilities:UK (18.6%),USA (10.6%),Russian Fed (6.5%)
- The percentage share of top 3 ports in foreign tourist arrivals on e-Tourist Visa:New Delhi Airport (37.3%),Mumbai Airport (19.6%), Dabolim (Goa) Airport (12.4%).
RBI Relaxes Priority Sector Lending Rule
- Reserve Bank of India has made banks’ priority sector norms lenient by saying that all loans to micro small and medium enterprises (MSME) will henceforth qualify as priority sector lending. This was a long time demand from banks.
- The sub-target for bank lending to the micro enterprises has been 7.50 percent.
- Foreign banks will also have to follow 8% sub-target for lending to the small and marginal farmers.
New President of Sahitya Akademi: Chandrashekhara Kambara
- Eminent Kannada writer and Jnanpith winner Chandrashekhara Kambara was elected as the president of Kendra Sahitya Akademi.
- He became the third Kannada writer to be elected to the premier body of litterateurs.
- The Sahitya Akademi, India’s National Academy of Letters, is an organisation dedicated to the promotion of literature in the languages of India.
World Radio Day – February 13
- The World Radio Day is observed every year on February 13 and theme is “Radio and sports”.
- There are three sub themes in 2018: They are,Diversity in Sports Coverage, Gender Equality in Sports Coverage and Peace and Development through Sports Coverage.