Daily Current GK Update
18 January, 2018
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- Cabinet approves recapitalization of Export-Import Bank of India
The Union Cabinet has approved the recapitalization of EXIM Bank. Issuance of Recapitalization Bonds by the Government of India to the tune of Rs.6,000 crore for capital infusion in Export-Import Bank of India (Exim Bank). The equity will be infused in two tranches of Rs. 4,500 crore in FY 2018-19 and Rs.1,500 crore in FY 2019-20 respectively. The Cabinet also approved an increase in the authorized capital of Exim Bank from Rs. 10,000 crore to Rs. 20,000 crore.
Source: – AIR World Service
- PM dedicates Kollam Bypass in Kerala to nation
PM Narendra Modi has dedicated the Kollam Bypass on the National Highway-66 to the nation. It reduces travel time between Alappuzha and Thiruvananthapuram. Notably, this is the first National Highway project in the country taken up on a 50:50 Centre-State partnership. He also launched development projects worth over Rs 1,500 cr in Odisha.
The 13-kilometer-long two-lane bypass is constructed at a cost of 352 crore rupees. It has three major bridges over the Ashtamudi lake, having a total length of 1540 metres and an underpass.
Source: – The Livemint
- 3 Indian-Americans nominated to key posts in Trump administration
US President Donald Trump has nominated three Indian-Americans to key positions in his administration. Dr Rita Baranwal has been nominated for the post of Assistant Secretary of Energy (Nuclear Energy) and Bimal Patel as the Assistant Secretary of the Treasury. Aditya Bamzai has been nominated to be a member of the Privacy and Civil Liberties Oversight Board.
Source: – Hindustan Times
- MP CM launches Rs 50,000 cr farm loan waiver scheme ‘Jai Kisan Rin Mukti Yojana’
Madhya Pradesh Chief Minister Kamal Nath launched his government’s Rs 50,000-crore farm debt-waiver scheme named ‘Jai Kisan Rin Mukti Yojana’. It is expected to benefit 55 lakh small and marginal farmers.
The eligibility cut-off date has been extended to December 12, 2018, from March 31, 2018. Only those farmers who have not registered themselves to pay GST and income tax can avail benefits under this scheme.
Source: – India Today
- IT returns to be processed in one day from current 63 days
Infosys will develop the next-generation income tax filing system, which will reduce the processing time for returns to one day from the current average of 63 days, the government said. The project, costing over 34,200 crore, will be completed in 18 months. Its objectives include faster and accurate outcomes for taxpayers and enhancing user experience at all stages, among others.
Source: – The Indian Express
- India-Myanmar joint training exercise begins in Chandimandir
The second edition of the India-Myanmar bilateral army exercise, IMBEX 2018-19, commenced at Chandimandir Military Station, that houses the headquarters of the Western Command, Chandigarh.
The aim of this joint training programme, spread over six days, is to train the Myanmar delegation for participation in United Nations peacekeeping operations under the UN flag. The exercise includes the participation of 15 officers from Myanmar Army and 15 officers from the Indian Army.
Source: – The Tribune
- UK PM wins no-confidence vote a day after her Brexit deal defeat
UK PM Theresa May on Wednesday won the no-confidence vote tabled by Opposition and Labour Party leader Jeremy Corbyn by 325 to 306. Corbyn tabled the no-confidence motion after MPs voted 432-202 to reject May’s Brexit deal. This is the second no-confidence vote won by May in over a month, the first being tabled by her own Conservative Party members.
Source: – The Guardian
- Palestine takes reins at UN’s Group G-77
Palestinian President Mahmoud Abbas has pledged to protect the interests of all 134 countries in the UN’s Group of 77, as Palestine took the chairmanship of the group from Egypt for 2019.
The G77 group was originally founded by 77 members in 1964 but has expanded to 134 mainly developing nations. The decision to elect Palestine as the 2019 Chair of the G77 was taken in September 2018 by the foreign ministers of the Groups’ member states.
Source: – UN News
- UK MPs reject Prime Minister Theresa May’s Brexit deal
UK Members of Parliament on Tuesday rejected a deal reached by Prime Minister Theresa May with the European Union on the terms of Britain’s exit from the bloc. May sustained the heaviest parliamentary defeat of any British Prime Minister in the democratic era after the deal was rejected by a majority of 230.
Source: – The Guardian