Daily Current Affairs 24th and 25th February 2018

1. NER’s 1st regional Centre for Agriculture with Israeli collaboration to be inaugurated in Mizoram

NER’s 1st regional Centre for Agriculture with Israeli collaboration to be inaugurated in MizoramA delegation led by Israeli Ambassador to India, Mr Daniel Carmon has stated that a Centre for Agriculture, with the collaboration of Israeli expertise, is going to be inaugurated in Mizoram on 7th March 2018.

Set up with a cost of Rs 8-10 crore, this centre is exclusively for the processing of citrus fruits.

The project has been set up with the tripartite collaboration of Ministry of Agriculture and Farmers Welfare, Government of India, Government of Israel and State Government of Mizoram.

Key points:
Capital: Aizawl
Chief minister: Lal Thanhawla
Governor: Lt General (Retd) Nirbhay Sharma

Source: Press Information Bureau

2. Paytm floats two new insurance entities

Paytm floats two new insurance entitiesDigital payments firm Paytm, owned by One97 Communication Ltd, has registered two new insurance units with the Registrar of Companies (RoC), implying a foray into standalone insurance products.

The two entities—Paytm Life Insurance Ltd, and Paytm General Insurance Corporation Ltd— registered on 21 February, indicate the company will look at offering differentiated insurance products like health insurance, motor insurance and others.

Paytm Money is the fourth product from One97 after its online shopping product Paytm Mall, Paytm Payments Bank and Paytm wallet.

Key points:
Founder: Vijay Shekhar Sharma
Founded: 2010
CEO: Renu Satti
Headquarters: Noida

Source: LiveMint

3. ADB and India Sign $84 Million Loan For Water Supply In Bihar

ADB and India Sign $84 Million Loan For Water Supply In BiharThe Government of India and The Asian Development Bank (ADB) signed an $84 million loan for improvement and expansion of water supply in Bhagalpur and Gaya towns in Bihar.

The tranche 2 loan is part of the $200 million multi-tranche financing facility (MFF) for the Bihar Urban Development Investment Program that was approved by ADB in 2012.

The loan will have a 25-year term, including a grace period of 5 years, an annual interest rate determined in accordance with ADB’s lending facility based on the London interbank offered rate (LIBOR), and a commitment charge of 0.15% per year.

Source: Press Information Bureau

4. India Successfully test-fired Dhanush Missile

India Successfully test-fired Dhanush MissileIndia successfully test-fired the nuclear-capable ‘Dhanush’ ballistic missile with a strike range of 350 km from a naval ship off Odisha coast.

The surface-to-surface missile, a naval variant of the indigenously-developed ‘Prithvi’ missile, was test-fired from the ship positioned near Paradip in the Bay of Bengal.

‘Dhanush’ missile is capable of carrying a payload of 500 kg and hitting both land and sea-based targets.

Source: Times of India

5. RBI launches Ombudsman Scheme for NBFCs

RBI launches Ombudsman Scheme for NBFCsThe Reserve bank of India (RBI) launched ‘Ombudsman Scheme’ for non-banking financial companies (NBFC) for redressal of complaints against them.

The scheme will provide a cost-free and expeditious complaint redressal mechanism relating to deficiency in the services by NBFCs covered under the Scheme.

The offices of the NBFC ombudsmen will function at four metro centres – Chennai, Kolkata, Mumbai and New Delhi.

Key points:
Reserve Bank of India
Governor: Urjit Patel Trending
Headquarters: Mumbai
Currency: Indian Rupee (₹)
Founder: British Raj

What is Banking Ombudsman?
The Banking Ombudsman Scheme enables an expeditious and inexpensive forum to bank customers for resolution of complaints relating to certain services rendered by banks. The Banking Ombudsman Scheme is introduced under the section of 35A of the Banking Regulation Act, 1949 by RBI with effect from 1995.

Source: The Economic Times

6. India to host 1st International Solar Alliance in March 2018

India to host 1st International Solar Alliance in March 2018India to host the first International Solar Alliance (ISA) summit on 11th March 2018, which will be attended by French President Emmanuel Macron and United Nations Secretary-General Antonio Guterres.

Efforts are underway to put together 121 projects, which can be signed in two phases – about 50 on March 11 and another 71 on April 20. The summit will be held in Delhi.

Key points:
International Solar Alliance
Founded: Paris, France
Head: H.E. Upendra Tripathy
Headquarters: Gwal Pahari, Gurugram

Source: DD News


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