DAILY CURRENT AFFAIRS: OCTOBER 18, 2018

Daily Current Affairs ( Oct 18, 2018) like many other sections is inevitable and this also helps to score in the Banking awareness , Static GK and Financial Awareness sections. Remember, Banking Awareness and Static Awareness Questions are asked from the General Awareness section. This will also help you to ride your preparations for the forthcoming exams.

NATIONAL

Muzaffarpur’s Shahi Litchi Gets GI Tag

Bihar’s Shahi Litchi — mostly grown in Muzaffarpur and adjoining areas of East Champaran, Vaishali, Samastipur and Begusarai districts — now enjoys the geographical indication (GI) tag.

The GI registration was done in the name of Litchi Growers Association of Bihar, which had applied for the tag.

Geographical indication is used on a product of specific geographical origin that attains its uniqueness or reputation because of its place of origin.

Litchi happens to be the fourth agricultural product for which Bihar has got GI tag. In December last year, three agricultural products — Bhagalpuri Zardalu, Katarni rice and Magahi Paan — had been given GI tags.


India’s 1st Cryptocurrency ATM installed In Bengaluru

The  virtual currency exchange Unocoin has installed a currency deposit and dispensing ATM at Kemp Fort Mall in Bengaluru.

The kiosk, installed by Unocoin, allows its customers to deposit and withdraw minimum amount of Rs 1000 from the platform.

First of its kind in India, this ATM circumvents the RBI regulation against bitcoins transaction. RBI has ruled earlier this year that financial institutions associated with RBI are not permitted to deal with cryptocurrencies.


INTERNATIONAL

6th Meeting Of UAE-India High-Level Joint Task Force Held In Mumbai

The sixth meeting of the UAE – India High Level Joint Task Force on Investments (‘the Joint Task Force’) was held in Mumbai to review the progress being made in addressing the agreed actions of the previous meeting held in Abu Dhabi in January 2018 and to elaborate  a number of new key issues of mutual importance.

The meeting was co-chaired by H.H. Sheikh Hamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince’s Court, and H.E. Suresh Prabhu, Minister of Commerce and Industry and Civil Aviation, Government of India.

To facilitate investments and resolve issues relating to UAE Investments in India, a special UAE desk ‘UAE PLUS’ shall be established in Invest India, the National Investment Promotion Agency of India.


12th Asia Europe Meeting Summit Begins In Brussels

The 12th Asia-Europe Meeting (ASEM) summit begins in Brussels, Belgium.

Vice President M. Venkaiah Naidu, will lead the Indian delegation at the two-day summit.

The theme this year is, ‘Global Partners for Global Challenges’.

The summit will prioritise issues related to connectivity, trade and investment, sustainable development, climate change, terrorism, migration, maritime security and cyberspace.

During his stay, the Vice President will also hold a meeting with prominent Persons of Indian Origin (PIOs) and CEOs of Belgium. He will address the Indian Diaspora at the Jain Culture Centre in Wilrijk, Antwerp.


Canada Becomes 2nd Country To Legalize Recreational Cannabis

Canada has become the second country after Uruguay to legalise possession and use of recreational cannabis. Medical marijuana has been legal in the country since 2001.

Ontario, Canada’s most populous province, will only begin opening retail stores next spring, though residents will be able to order cannabis online.

Cannabis, also known as marijuana among other names, is a psychoactive drug from the Cannabis plant used for medical or recreational purposes.


BANKING AND ECONOMY

RBI issues guidelines for facilitating money transfer among e-wallets

The Reserve Bank of India (RBI) has released guidelines to facilitate payments among different mobile wallets, a move aimed at promoting digital transactions.

As per the road-map laid down in 2017, interoperability of all KYC-compliant Prepaid Payment Instruments (PPIs) was to be enabled in three phases – interoperability of PPIs issued in the form of wallets through Unified Payments Interface (UPI), interoperability between wallets and bank accounts through UPI, and interoperability for PPIs issued in the form of cards through card networks.

The Reserve Bank of India (RBI) issued consolidated guidelines for enabling all phases in order to prepare better for implementation of interoperability.


APPOINTMENTS

Union Minister MJ Akbar Resigns

MJ Akbar, Minister of State For External Affairs, has resigned from his post in the wake of allegations of sexual harassment made by several women against him.

Prime Minister Narendra Modi and President Ramnath Kovind has accepted resignation of Minister of State For External Affairs MJ Akbar.


Suheil F. Tandon wins International Olympic committee (IOC) award

Social Entrepreneur Suheil F. Tandon has won the International Olympic Committee’s Sport and Active Society Commission’s Grant Award for his contribution to sports for development.

Suheil is the Founder of Pro Sport Development (PSD) and Executive Director of Martha Farrell Foundation.

The award ceremony was held during the Olympism in Action forum at Buenos Aires.


RANKING

India Ranks 58th in Global Competitiveness Report 2018

India has been ranked as the 58th most competitive economy on the World Economic Forum’s global competitiveness index for 2018, which was topped by the US.

India’s rank rose by five places from 2017, the largest gain among G20 economies, the WEF said.

On the list of 140 economies, the US is followed by Singapore and Germany at the second and the third positions respectively. India was ranked 58th with a score of 62.0 in the latest Global Competitiveness Report.


BOOKS AND AUTHORS

‘Maharana Pratap: The Invincible Warrior’: A Book Authored By Rima Hooja Released

A new book on Maharana Pratap named “Maharana Pratap: The Invincible Warrior” authored by historian Rima Hooja has been released.

In Maharana Pratap: The Invincible Warrior, noted historian Rima Hooja describes in detail how Maharana Pratap managed to elude capture by the mighty Mughal army for so long and never bowed down to Akbar.


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