Current Affair of 05 April 2018, Exam View.

Current Affair 05 April 2018

New party launched in Telangana

Telangana Joint Action Committee (TJAC) chairman M. Kodandaram formally announced launching of a new political party. The new party is named Telangana Jana Samithi (TJS). TJAC is a non-political platform comprising political parties, employees associations and other people's organisations that led the Telangana statehood movement.

Jio Payments Bank begins its operations

  • Jio Payments Bank Limited has commenced operations as a payments bank with effect from April 3, 2018.
  • This is a 70:30 joint venture between Reliance Industries and the State Bank of India
  • Reliance Industries reportedly plans to move customers of JioMoney to Jio Payments Bank.
  • IndusInd first bank to use WhatsApp for basic services

    IndusInd Bank has become the first lender to start using WhatsApp enterprise solution to provide basic banking services to customers. Using the widely-used messaging service, customers can check their balance, obtain a mini statement, check reward points as well as update Aadhaar.

    Malaysia passes law against fake news.

    Malaysia’s government on Monday pushed a law through Parliament that makes “fake news” punishable with a maximum six-year jail term despite an outcry from critics worried it will be used to stifle dissent before elections.

    The law targets foreign as well as local media.

    The law originally proposed a maximum prison sentence of 10 years and fine of 5,00,000 ringgit ($1,30,000) for publishing what authorities deem to be fake news, but the government lowered the jail term to six years following a storm of criticism.

    India, Japan, US align to increase cooperation in 9th trilateral meeting

    India, Japan, and the United States held the 9th Trilateral Meeting at Joint Secretary/Director General/Assistant Secretary level in New Delhi on 4 April 2018 to hold consultations on regional and global issues of mutual interest. And resolved to work towards a “free, open, prosperous, peaceful and inclusive Indo-Pacific region” as well as strengthen maritime security. The talks were held at the “Joint Secretary/Director General/Assistant Secretary level”.

    In a joint press statement, the two sides resolved to
    • Enhance cooperation in the areas of connectivity and infrastructure development
    • counter-proliferation
    • counter-terrorism
    • maritime security
    • maritime domain awareness and Humanitarian Assistance-Disaster Relief (HA-DR)

    India’s first blockchain implementation goes live

    Three trade receivable discounting systems (TReDS)—digital invoice discounting platforms—approved so far by the RBI have jointly implemented a blockchain solution, which is expected to help reduce frauds in bills discounting or receivable financing.

    The platforms—RXIL, A.TReDS and M1xchange—had been set up to bring together buyers, sellers and financiers for discounting the MSME invoices and provide them with timely funding

    This is billed as India’s first live blockchain implementation in the enterprise financial segment. US-based MonetaGo has designed and implemented the production solution.

    The MonetaGo blockchain solution had gone live on March 23 and so far 1,400 invoices have been processed on it.