Current Affair of 29 March 2018, Exam View.

Current Affair 29 march 2018

Govt of India Launch "Study in India" Programme

Ministry of Human Resource Development(HRD) has approved ‘Study in India’ programme with, inter-alia. The ‘Study in India’ programme’s primary objective is to target foreign students by branding India as an attractive education destination. Aim of the programme is to improve the soft power of India with focus on the neighbouring countries and use it as a tool in diplomacy by the following objectives.

  • To boost the number of inbound International students in India,
  • To double India’s market share of global education exports from less than 1 percent to 2 percent,
  • Increase in the contribution of the international student in the form of direct spends, indirect spends, spillover effects,
  • Improvement in overall quality of higher education,
  • Increase in the global ranking of India as the educational destination,
  • To reduce the export – Import imbalance in the number of International students, and
  • The growth of India’s global market share of International students.

The programme will provide meritorious foreign students fee waiver and scholarship.The proposed fee waivers to meritorious foreign students in this policy will be decided by the Institute concerned based on the following conditions.

Under it, 100% waiver of tuition fees will be only for the top 25% students, 50% waiver of tuition fees only for the next 25% students, 25% waiver of tuition fees only for the next 25% students and no waiver of tuition fee for remaining 25% of students.

The programme will not affect number of seats which are meant for Indian students in any educational institute.

Government Guarantee for Indian Railway Finance Corporation (IRFC) Bonds

Indian Railways Finance Corporation (IRFC)

  • IRFC was set up 1986 as the dedicated financing arm of the Indian Railways for mobilizing funds from domestic as well as overseas Capital Markets.
  • It is also registered as Systemically Important Non–Deposit taking Non Banking Financial Company (NBFC – ND-SI) and Infrastructure Finance Company (NBFC- IFC) with Reserve Bank of India (RBI).
  • The primary objective of IRFC is to meet the predominant portion of ‘Extra Budgetary Resources’ (EBR) requirement of the Indian Railways through market borrowings at the most competitive rates and terms.

Ministry of Finance has approved Government guarantee of Rs. 5000 crore in the current Financial Year for Indian Railway Finance Corporation (IRFC) bonds to be subscribed by Life Insurance Corporation (LIC). The guarantee fee for the aforesaid amount has also been waived by Ministry of Finance (MOF).

Ministry of Railways had entered into Memorandum of Understanding (MoU) with LIC on 11th March 2015 by which LIC has to provide a financial assistance of Rs. 150000 crore for identified Railway projects from 2015 to 2019. In terms of aforesaid MoU, IRFC has been raising funds from LIC by issue of bonds having a tenor of 30 years and remitting the funds to Ministry of Railways for construction of Railway projects.

Exim Bank extends $500 million loan facility to Africa

The Export-Import Bank (Exim Bank) today said it will provide a USD 500 million credit facility to ECOWAS Bank for Investment and Development (EBID) to fund various development projects in the western-south Africa.

The line of credit of USD 500 million to EBID will finance various development projects in the ECOWAS region. Exim Bank till date has extended four LoCs to EBID, with the support of the government, taking the total value of LOCs to USD 1,000 million.

  • Government is set to roll out a coin of Rs 350 denomination to mark the 350th Birth Anniversary of Shri Guru Gobind Singh Ji.
  • The circumference of the coin will be 44 millimeters, and a coin will be made up of Quaternary Alloy- Silver (50 percent), Copper (40 percent), Nickel (05 percent), and Zinc (05 percent).
  • The front face of the coin will have 'Ashoka Pillar' engraved on it.
  • The reverse face of the coin will have a picture of 'Takht Shri Harimandir Ji Patna Sahib'.

The year “1666” and “2016” in international numerals shall be flanked on the left and right periphery of the coin,"

India and ADB sign $80 million loan agreement

Government of India and Asian Development Bank (ADB) sign $80 Million Loan Agreement to help boost Youth Employability in State of Himachal Pradesh

  • The project will support the skill initiatives of Government of Himachal Pradesh and help the State step-up the reform and scale-up its skill development efforts.
  • Project will fund short-term and long-term training programs in growth areas including automobiles, electronics, pharmaceutical, tourism and hospitality and banking and financial services, healthcare etc. to help enhance the skills set of the youth and increase their employability.
  • The Project will help seize this opportunity by providing support in developing relevant and good quality TVET programs thereby improving employment prospects of nearly 65,000 youths by 2022.
  • The Project will establish a polytechnic for women, six city Livelihood Centers, and seven Rural Livelihood Centers, and upgrade 11 employment exchanges into model career Centers.

Gatimaan Express to go till Jhansi from April 1

Gatimaan Express, India's fastest train, has been extended up to Gwalior, Jhansi! Gatimaan Express presently runs between Delhi and Agra and attains a maximum speed of 160 kmph - making it Indian Railways' fastest train.

The Supreme Court on Tuesday appointed Justice Jawad Rahim, judicial member of the National Green Tribunal (NGT), as its acting chairperson, the new acting chairperson will discharge his duties until a regular appointment is made..

Justice Rahim was the judge of the Karnataka High Court from 2006 to 2014.