Daily Current Affairs (English) - 12.08.2018

National

NIRMALA SITHARAMAN, YOGI LAUNCHED DEFENCE INDUSTRIAL CORRIDOR IN ALIGARH

Defence Minister Nirmala Sitharaman and Uttar Pradesh Chief Minister Yogi Adityanath will launch a defence industrial corridor in Aligarh tomorrow as part of the government's efforts to develop specialised zones dedicated to defence production in the state, a Defence Ministry statement said. Six nodal points have been identified in state -- Agra, Aligarh, Lucknow, Kanpur, Chitrakoot and Jhansi -- for the corridor. "Stakeholder interactions have already been held in Lucknow, Kanpur, Agra and Jhansi and all the interactions have seen huge response from the industries in and around the locations," the statement added. Senior representatives of the defence public sector undertakings, ordnance factories and Defence Research Development Organisation (DRDO) will also be present at the launch event. There will be an exhibition of products by the armed forces, DPSUs and DRDO which are planned to be indigenised over the next five years, the statement added.


PRESIDENT OF INDIA INAUGURATES ‘ONE DISTRICT ONE PRODUCT’ SUMMIT

The President of India, Shri Ram Nath Kovind, inaugurated the ‘One District One Product’ Summit on August 10, 2018 in Lucknow, Uttar Pradesh.

Objective: The State Government has set a target of connecting one lakh people every year with the Odopi scheme. Through this, the government is trying to give a platform to encourage special identifying products in all the 75 districts of the state.

Benefit: For help in 'e-marketing', 'zero deduct-zero effect' and capital investment, with the representatives of the institutions present here, MoUs have been received, they will get new opportunities at the district level, for the producers.

According to Think-Global, Act-Local, promoting local skills, many such products of the district can be made worth the international market.
The products of many districts of Uttar Pradesh are demanded nationally and internationally, but there are many such districts and products which, by proper encouragement through this scheme, can be utilized commercially. Many new brands can be developed.

Trade & Economy

 

CURTAIN RAISER: EXERCISE SCO PEACE MISSION 2018

As part of Shanghai Cooperation Organization (SCO) initiatives, SCO Peace Mission Exercise is conducted biennially for SCO member states.

Peace mission: In the peace mission, anti-terrorist military exercises will be organized in the Url mountains of Russia and almost all SCO member countries are participating in it. The main objective of this peace mission is to increase cooperation between eight member countries of SCO to deal with terrorism. It is also being called 'Peace Mission 2018'.

SCO: It is a political and security group with its headquarters in Beijing. Presidents of Ruse, China, Kyrgyz Republic, Kazakhstan, Tajikistan and Uzbekistan established SCO at a summit in Shanghai in 2001. It represents more than 40% of humanity and about 20% of global GDP. Afghanistan, Belarus, Iran and Mongolia are currently its observers. In the year 2005, India and Pakistan were included as Supervisors of this group. Both countries were made full members in the year 2017

Resignation

Paresh Sukthankar

HDFC Bank’s Paresh Sukthankar has resigned from the board of the country’s largest private sector bank.He will vacate the post of deputy managing director. Sukthankar has been with HDFC Bank since its inception in 1994. Currently, he is overseeing the banks’ credit and risk management departments as well as finance and human resources.He was appointed to the post of deputy managing director in March 2017.He was recently appointed to an RBI Committee tasked with working out a medium-term action plan for improving financial inclusion.Further, he was a member of the High-Level Steering Committee for Review of Supervisory Processes for Commercial Banks.

Appointment

SATISH KASHINATH MARATHE

The Union government has appointed Satish Kashinath Marathe and Swaminathan Gurumurthy as part-time non-official Directors on the central board of Reserve Bank of India (RBI) for four years.the appointment proposals were forwarded by the Department of Financial Services of the Union Ministry of Finance.



 

R.S. SHARMA

The Appointments Committee of the Cabinet has extended the term of Telecom Regulatory Authority (TRAI) Chairman R.S. Sharma till September 2020.His term was to end this week. Sharma was appointed TRAI chief for three years in July 2015. Before that he was Secretary to the Department of Electronics and Information Technology.

Death

ANANT BAJAJ

Anant Bajaj, managing director (MD) of Bajaj Electricals, passed away after a heart attack. He was 41.Bajaj, the only son of company chairman Shekhar Bajaj, took over as MD in June.An alumnus of Harvard Business School, Anant Bajaj was associated with the firm for nearly 20 years, becoming joint MD in 2012.