Top 15 Current Affairs 13th October 2018

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13 October 2018

Mahindra Mutual Fund, a wholly owned subsidiary of Mahindra and Mahindra Financial Services Limited (MMFSL), launched new open ended equity scheme called ‘Mahindra Rural Bharat and Consumption Yojana’. This will provide investors an opportunity to participate in India growth story predominantly in Rural India.

13 October 2018

It secured 188 votes in the Asia-Pacific category for a period of three years beginning January 1, 2019.  The 18 new members were elected by the absolute majority through a secret ballot.   The highest number of votes among all 18 countries in the five regional categories.

13 October 2018

Five new battalions of Rapid Action Force (RAF) were sanctioned by the central government in January 2018 and their new bases have been sanctioned now. Key Points: The 5 new Rapid Action Force (RAF) battalions will be based in: Varanasi in Uttar Pradesh Jaipur in Rajasthan Mangalore in Karnataka Hajipur in Bihar Nuh in Haryana

13 October 2018

Central Government has approved a special package for generation of employment in leather and footwear sector. The package consist of implementation of Central Sector Scheme  Indian Footwear, Leather & Accessories Development Programme (IFLADP) with approved expenditure of Rs. 2600 Crore for 2017-20. Under IFL ADP 4 projects worth 107.33 crore have been approved in Tamil Nadu by the Department of Industrial Policy and Promotion (DIPP). They are: Upgradation of Tala Trichy Common Effluent Treatment Plant (CETP) at Trichy Pallavaram CETP at Nagalkeni Chrompet SIDCO Phase-I CEPT at Ranipet Perundurai leather industries Eco Security Pvt. Ltd. at Erode. DIPP also approved mega leather cluster at Bantala in West Bengal.  This will attract an investment of Rs. 400 to 500 crore.

13 October 2018

Bishan Singh Bedi, the former Indian captain and spin legend, was honoured with the Dr.M.A.Chidambaram Birth Centenary Award, at a grand function here on Chennai, Tamil Nadu. The program was instituted by MAC Charities in memory of the former BCCI president. Other former Test cricketers like C.D. Gopinath, V.V. Kumar, G.R. Viswanath, K. Srikkanth and T.A. Sekhar were also honoured at the function that was held on the day of the birth centenary.

13 October 2018

Mahindra Agri Solutions Ltd. (MASL), a subsidiary of Mahindra & Mahindra, has entered into a joint venture (JV) with Japan’s Sumitomo Corporation Group. The JV is to make pesticides in India to boost farm produce in the country. Sumitomo is into crop care and has access to the latest crop protection technologies. Mahindra will hold 60% stake in the new company named Mahindra Summit Agriscience Limited and the balance will be with Sumitomo Corporation. MASL is projecting a crop protection business revenue of $100 million in 5-7 years. Mahindra will contribute through its farmer connect, widespread distribution and agriculture expertise, while Sumitomo Corporation has strong ties with large Japanese crop protection innovator companies.

13 October 2018

Amway appointed Milind Pant as its CEO. Mr.Pant joins Amway, which has a revenue of $8.6 billion. Mr.Pant joins Amway from Yum! Brands where he was recently president of Pizza Hut International. He will be reporting directly to Amway's board of directors and will also hold a seat on the board on effective January 2, 2019.  Steve Van Andel,  Amway Chairman, and Doug DeVos, Amway's President, will move to Amway's Board of Directors where they will serve as co-chairs. This is a new position for Amway, a business that has been family run since its beginning in 1959.

13 October 2018

World Bank released the Human Capital Index (HCI) as part of the World Development Report 2019. Broader theme of the World Development Report (WDR) this year is “The Changing Nature of Work”.  The World Bank has launched a Human Capital Project (HCP).  The HCI has been constructed for 157 countries. The HCI for India has been estimated at 0.44.  The Index was released at the World Bank-IMF Annual Meetings in Bali, Indonesia. Singapore topped the poll after it was highly rated for its universal health care system, education exams results and life expectancy figures.

13 October 2018

The new board of Infrastructure Leasing and Financial Services (IL&FS), has decided to nominate directors to key subsidiaries like IL&FS Financial Services Limited, IL&FS Transportation Networks Limited and IL&FS Environmental Infrastructure & Services Limited (IEISL). The board is headed by Uday Kotak.  The board inducted the six-member board in IL&FS. The board appointed directors in eight subsidiaries. All the directors of the subsidiaries are from the new board. The nominees were appointed based on the recommendations of the Nominations and Remuneration Committee of IL&FS.

13 October 2018

NITI Aayog and IBM announced a first-of-its-kind internship programme for students selected by Atal Innovation Mission (AIM). About NITI Aayog NITI : National Institution for Transforming India. NITI Aayog Vice-Chairman- Rajiv Kumar,  CEO- Amitabh Kant.

13 October 2018

The agreements in the fields of environment, culture and education are updated for the next 3 years. The agreement was signed by Minister of the Moscow City government and head of its international relations Sergey Cheremin and Delhi Deputy Chief Minister Manish Sisodia.

13 October 2018

Lupin, Drug firm major, has launched generic Clobetasol Propionate ointment in the U.S. market. This is used to treat inflammation and itching caused by a number of skin conditions. It had earlier received approval for the product from the United States Food and Drug Administration (USFDA), Lupin said in a statement. The company has launched Clobetasol Propionate ointment USP in the strength of 0.05%.

13 October 2018

Researchers from the Massachusetts Institute of Technology (MIT) have devised a new way that will help the robots, as it might struggle with navigational concepts, navigate environments more as humans do. This new method of the motion-planning model will help the robots determine how to reach a goal by exploring the environment, observing other agents, and exploiting what they’ve learned before in similar situations. The new model is a combination of a planning algorithm with a neural network that learns to recognise paths that could lead to the best outcome and uses that knowledge to guide the robot’s movement in an environment.

13 October 2018

The India-Israel Innovation Centre (IIIC)is a significant step towards facilitating penetration of Israeli companies in India. The main aim is to forge local partnerships and joint ventures between companies from the two countries.

13 October 2018

Minister for Women and Child Development Maneka Gandhi announced that the Centre is to set up a committee of judges and lawyers to examine the existing legal and institutional framework. The committee is to deal with complaints of sexual harassment at the workplace that are emanating from the #MeTooIndia movement. The move comes even as the government is yet to make a statement on allegations by several women journalists against Minister of State for External Affairs M.J. Akbar.

13 October 2018

National Stock Exchange signed a pact with the Uttarakhand government to provide access to capital to MSMEs, which will fuel the growth of such entities in the state.  The bourse play an active role in nurturing the SMEs and start-ups by increasing awareness along with the government on the opportunities to raise capital, SME exchange guidelines, listing processes, compliances with listing agreement among others.

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