Current Affairs February 20, 2018

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1 Current Affairs February 20, 2018 World News Mandarin approved as official language of Pakistan The Pakistani Senate approved a motion to declare Mandarin as one of the official languages of Pakistan. The motion said the step was necessary in view of ties between Pakistan and China. Other official languages of Pakistan is Urdu and English. UK, India launch joint research projects on clean water & energy The UK- India Joint research projects on Water Quality Research and Energy Demand Reduction in Built Environment were launched in New Delhi. The Water Quality Research programme has eight projects and Energy Demand Reduction in Built Environment programme has four projects, with a total joint investment of up to 15 million British Pound. UK to get new Beatrix Potter coins featuring rabbit, mouse The UK s Royal Mint is releasing four new 50 pence coins featuring fictional characters like Peter Rabbit and Mrs Tittlemouse from the books by children s writer Beatrix Potter.

2 The limited-edition coins will cost 60 ( 5,400). They will be added to the Beatrix Potter collection, which was launched in 2016 to commemorate 150 years since her birth. National News Aga Khan s 11-Day Visit To India Begins Spiritual leader Aga Khan is on the 11-day visit to India. Sunder Nursery, a 90-acre park near Humayun s Tomb in New Delhi, will be inaugurated by Vice President M Venkaiah Naidu in the presence of the Aga Khan. In addition to these engagements, he will be visiting the cities of Ahmadabad, Hyderabad and Mumbai, where Aga Khan Development Network is involved in various development projects. During his previous visit in 2015, the Aga Khan was conferred Padma Vibhushan for his contributions to social development in India. Cabinet approves methodology for the auction of coal mines and blocks for sale of coal Cabinet Committee on Economic Affairs, CCEA has approved methodology for the auction of coal mines and blocks for sale of coal. The opening up of commercial coal mining for the private sector is the most ambitious reform in the coal sector since the nationalisation of this sector since The methodology gives the highest priority to transparency, ease of doing business, and ensuring that natural resources are used for national development. It is expected to bring efficiency by moving from an era of monopoly to competition. Cabinet approves railway projects worth Rs 11,661 cr The Union Cabinet approved multi-crore developmental projects worth Rs 11,661 crore, which include doubling and electrification of many lines. The new projects will herald good news for passengers as the crucial lines will reduce congestion on the existing network, enabling better punctuality of trains.

3 Maharashtra, Virgin Group Sign Deal for World s First Hyperloop between Mumbai and Pune The Virgin Group led by Richard Branson has signed an intent agreement with Maharashtra Government to build world s first hyperloop transportation system between Mumbai and Pune. The foundation stone for the project was laid by Prime Minister Narendra Modi on first day of Magnetic Maharashtra investor summit held in Mumbai. Union Cabinet Approves Creation of National Urban Housing Fund The Union Cabinet has given approval for creation of National Urban Housing Fund (NUHF) for Rs.60,000 crores. This fund will be situated in Building Materials and Technology Promotion Council (BMTPC), an autonomous body under the Ministry of Housing and Urban Affairs. NUHF will facilitate raising requisite funds in next four years so that flow of Central Assistance under different verticals i.e. Beneficiary Linked Construction (BLC), Affordable Housing in Partnership(AHP), In-Situ Slum Redevelopment (ISSR) and Credit Linked Subsidy Scheme (CLSS). State News Cabinet approves Silkyara Bend-Barkot Tunnel in Uttarkhand The Cabinet Committee on Economic Affairs (CCEA) has given its approval to the construction of km long 2-Lane Bi-Directional Silkyara Bend Barkot Tunnel with escape passage including approaches on Dharasu -Yamunotri section between Chainage Km. and Chainage Km in Uttarakhand. The project will be falling along NH-134 (old NH-94) in the State of Uttarakhand. Centre constitutes committee to study Brahmaputra and flood control measures in Assam The Centre has constituted a committee headed by the Vice Chairman of the NITI Aayog to study the Brahmaputra and flood control measures in Assam and neighbouring states. The Assam government has submitted required report on flood control measures to the committee. Measures are being taken by the Water Resource department to repair the damaged river embankment due to flood.

4 Maharashtra signs 35k crore MoU with man who built aircraft on roof The Maharashtra government signed a Memorandum of Understanding (MoU) of 35,000 crore with Amol Yadav, the man who built an aircraft on his rooftop. According to the MoU, the state government has promised to give infrastructural and financial support to Yadav. PM Flags off Palace Queen Hamsafar Express in Karnataka Prime Minister Narendra Modi flagged off the Palace Queen Humsafar Express between Mysuru and Udaipur in Mysuru Railway Station. The train between Mysuru and Udaipur will act as a backbone of tourism, an employment generating industry. Banking & Economy Axis Bank opens offshore banking branch at GIFT City Private sector lender, Axis Bank announced opening of off-shore banking unit at the International Financial Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City). With opening of this unit, Axis Bank will be able to provide a more comprehensive range of products to its customers with access to International financial markets. State Bank of India (SBI), ICICI Bank, IDBI Bank, Kotak Mahindra Bank, YES Bank, Federal Bank and IndusInd Bank have operations at their respective IFSC Banking Units (IBUs) at GIFT IFSC. The total value of the transactions made by these IBUs touched US $8 billion. The offshore Banking unit is capable to trade in foreign currency in overseas markets and also with Indian Banks, raise funds in foreign currency in deposits & borrowings from non-residential sources and provide loans and liabilities products for clients. Fitch Places PNB On Rating Watch Negative With Downgrade Possibility Fitch placed Punjab National Bank on Rating Watch Negative (RWN), reflecting a possibility of downgrade following the USD 1.77 billion fraud. The fraud is the biggest ever in the banking history. The Viability Rating measures credit worthiness of a financial institution and reflects the likelihood of the entity to fail, as per Fitch. The RWN reflects the possibility of a downgrade of PNB s Viability Rating.

5 IT exports growth likely to be 7-9% in : Nasscom According to the industry outlook by the National Association of Software & Services Companies (Nasscom), India s IT exports are expected to grow at 7-9 per cent to be at $135-$137 billion in The IT exports during the current financial year are projected to be $126 billion, a growth of 7-8 per cent over previous year. Sports Brjesh Damani wins CCI All India Open Snooker Championship title Indian Oil s Brijesh Damani won the Rs lakh prize-money CCI All India Open Snooker Championship after he defeated ONGC s Sourav Kothari by a stunning 7-1 margin in a one-sided best-of-13 frame final. Damani went home richer by Rs two lakh and received the CCI Snooker Trophy, and a fine crystal trophy, while Kothari received Rs 1.30 lakh. Japan s Yuzuru Hanyu retains Winter Olympic figure skating gold Japanese Yuzuru Hanyu became the first figure skater in 66 years to win back-to-back Winter Olympic gold medals in the men s singles event as he won Japan s first gold medal at PyeongChang Games. Hanyu won the title with points, beating compatriot Shoma Uno and multiple world champion Javier Fernandez of Spain to the second and third spots. Virat Kohli becomes first Indian to cross 900 points in ICC ODI player rankings Mumbai Virat Kohli became only the second batsman ever after South Africa s AB de Villiers to have earned more than 900 rating points in ICC Rankings, in Test and ODI cricket concurrently. Kohli also became the first Indian batsmen ever to have breached the 900 points-mark in ODIs, extending his lead over de Villiers. Kohli now has 909 points, well ahead of de Villiers who has 844.

6 Appointments & Resignations Government appoints two new Executive Directors in banks Debashish Mukherjee and Murali Ramaswami were appointed executive directors of Canara Bank and Vijaya Bank respectively, according to an official order. Mukherjee is at present the general manager of United Bank of India and Ramaswami is the GM of Vijaya Bank. Mukherjee s appointment is initially for three years but it is extendable by two years after review of his performance. Ramaswami will have tenure till December 31, 2020, i.e. the date of his superannuation. Science & Technology India Successfully Test-Fires Agni-II Missile India successfully test-fired Agni II medium-range nuclear-capable missile from APJ Abdul Kalam Island off the Odisha coast. The Strategic Forces Command (SFC) fired Agni-II from a mobile launcher at launch complex 4 of the Integrated Test Range. Agni-II, which has a length of 20 metres, weighs 17 tonnes and can carry a payload of 1000 kgs over a distance of 2000 kms. It is a part of the Agni series of missiles developed by the DRDO. Obituaries Eminent cardiologist B.K. Goyal passes away Renowned cardiologist Bal Krishna Goyal has passed away. He served as a friend and cardiologist to top Indian political dignitaries and celebrities. He was awarded India s top three civilian awards Padma Shri (1984), Padma Bhushan (1990), and Padma Vibhushan (2005). Important Days World Day of Social Justice World Social Justice is observed every year on February 20. Social justice is an underlying principle for peaceful and prosperous coexistence within and among nations.

7 We uphold the principles of social justice when we promote gender equality or the rights of indigenous peoples and migrants. We advance social justice when we remove barriers that people face because of gender, age, race, ethnicity, religion, culture or disability. The theme of World Day of Social Justice 2018 is Workers on the Move: the Quest for Social Justice.