Daily Current Affairs 21 February 2018 1. Narendra Modi to inaugurate the UP Investors Summit in Lucknow ● Prime Minister Narendra Modi to inaugurate the UP Investors Summit in Lucknow. The mega event, organised by the Yogi Adityanath government. ● It is aimed at showcasing investment opportunities and potential across various sectors in Uttar Pradesh. ● The Summit to bring together heads of states and governments, ministers, leaders from the corporate world, senior policy-makers, heads of international institutions and academicians from around the world. ●
Representatives from Mauritius, Japan, the Netherlands, Finland, Czech Republic, Thailand and Slovakia also participate in the event.
2. India successfully test-fires Agni-II ballistic missile ● India’s surface-to-surface Agni-II ballistic missile, with a strike range of 2 thousand kilometres was test-fired successfully from the Abdul Kalam Island, off Orissa coast. ● As part of user trial, the Strategic Forces Command with logistics support from Defence Research Development Organisation (DRDO) carried out the test. ● The successful launch once again proved the reliability of the medium range surface to surface missile. ●
The range of the 21-metre long missile weighing 17 tonnes can also be increased to 3 thousand kilometres by reducing the payload. Agni missile series being developed by DRDO.
3. UK, India launch joint research projects on clean water and 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. ●
These projects aim to deliver mutual benefits and research solutions not only to the UK and India but also to address shared global sustainable development goals of clean water and clean energy.
4. Fitch places PNB on ‘Rating Watch Negative’ with possibility of downgrade ● Fitch Ratings has placed Punjab National Bank’s (PNB) Viability Rating of ‘bb’ on Rating Watch Negative (RWN), following the large fraud reported by the bank. ● The RWN, according to Fitch, reflects the possibility of a downgrade of PNB’s Viability Rating following the detection of a $1.8-billion fraud in one of the bank’s branches. ● Moody’s too has placed the lender under review for downgrade. The agency has a Baa3/P-3 rating on the Delhi-based lender now while it has a Baa3 rating on its foreign currency issuer rating. The bank overall has a Baa2 rating with a stable outlook now from Moody’s. Important points: Punjab National Bank ➢ Headquarters: New Delhi ➢ CEO: Sunil Mehta ➢ Founder: Lala Lajpat Rai
5. Maharashtra government to launch cheap sanitary pad scheme ● The Maharashtra government is all set to roll out its “Asmita Yojana” on the International Women’s Day. ● Under the scheme, girls in Zilla Parishad schools will get a sanitary napkin packet at Rs 5 while rural women can avail it at a subsidised rate of Rs 24 and Rs 29. ● The scheme, catering to girl students and women in rural areas, will be formally launched on March 8.
Important points:
Maharashtra ➢ Capital: Mumbai ➢ Chief minister: Devendra Fadnavis ➢ Governor: Chennamaneni Vidyasagar Rao
6. Singapore to impose carbon tax from 2019 ● Singapore will impose a carbon tax from 2019 to cut its greenhouse gas emissions and make companies more competitive as global agreements on climate change take effect. ● Finance minister Heng Swee Keat stated that the tax would be levied on all facilities producing 25,000 tonnes or more of greenhouse gas emissions a year. ● The tax, to be applied to all sectors, will be Sg$5.0 ($3.8) per tonne of greenhouse gas emissions from 2019 to 2023.
7. Government clears private commercial mining in coal ● In a major reform in the coal sector since its nationalisation in 1973, the government has allowed private companies to mine the fossil fuel for commercial use, ending the monopoly of state-owned Coal India Ltd. ● The decision was taken by the Cabinet Committee on Economic Affairs (CCEA) under the Chairmanship of Prime Minister Narendra Modi. ● The reform is likely to bring efficiency into the coal sector by moving away from the era of monopoly to competition and lower power tariffs. Important points: ➢ Present Coal Minister: Piyush Goyal
8. Delhi Government Launch ‘Mission Buniyaad’ To Fix Learning Crisis ● The Delhi government announced the launch of “Mission Buniyaad” for improving learning skills of children studying in state and municipal-run schools. ● The announcement was made by Deputy Chief Minister Manish Sisodia in New Delhi.
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Under the programme which will run from April to June for Class 3 to 5 in Municipal Corporation of Delhi (MCD) schools and for Class 6 to 8 in government’s schools, children will undergo a reading level assessment based on which they will be enrolled in specialised “Mission Buniyaad” classes.