Current Affairs 19th June 2018

Current Affairs 19th June 2018 - Important Points

• RBI eases norms for Foreign Portfolio Investors to invest in debt on - 15th June 2018
• 'Three Year Action Plan’ of Agricultural Education Division & ICAR Institutes approved by - Cabinet
• Dhanush artillery gun clears third and final trials directed from - 31st May - 7th June 2018 
• World Sustainable Gastronomy Day celebrated globally on - 18th June 2018
•  ‘Year of Disabled Soldiers in Line of Duty’ 2018 observed by - Indian Army
• Union Government collaborates with Google for flood forecasting on - 18th June 2018

Current Affairs 19th June 2018 - Details

RBI eases norms for Foreign Portfolio Investors to invest in debt on - 15th June 2018

The RBI relieved the standards for Foreign Portfolio Investors on June 15th , 2018, to invest in debt, particularly into individual large trades.
Minimum residual maturity requirement

• Foreign Portfolio Investors will now be allowed to invest in Government securities without any lowest residual maturity obligation, with a condition that short-term investments by a Foreign Portfolio Investors shall not surpass 20% of the overall investment.
• Foreign Portfolio Investors will be allowed to invest in corporate bonds with lowest residual maturity of more than 1 year.
• The obligation that short-term investments shall not surpass 20% of total investment by a Foreign Portfolio Investors in any category is applicable on an end-of-day basis.
• Short-term investments by a Foreign Portfolio Investors may surpass 20% of total investments, only if investments involve completely of investments made on April 27th, 2018.
  Concentration limits for Investment by any FPI
• For Long-term Foreign Portfolio Investors, the concentration limit is 15% of usual investment limit.
  All other Foreign Portfolio Investors will be permitted to invest about the valid concentration limit.
  Investor-wise limits in corporate bonds 
• Investment by any Foreign Portfolio Investors, including investments by concerned Foreign Portfolio Investors, shall not surpass 50% of any issue of a corporate bond and if exceeded more than 50%, then it shall not make further investments in that issue.
• No Foreign Portfolio Investors will have an exposure of above 20% of its corporate bond portfolio to a single corporate.
• ‘New’ investments made after April 27th, 2018 in corporate, by Foreign Portfolio Investors would be exempted from this need till March 31st, 2019.

'Three Year Action Plan’ of Agricultural Education Division & ICAR Institutes approved by - Cabinet

The Union Cabinet has sanctioned the formation of “Three Years Action Plan” of Agricultural Education Division and Indian Council of Agriculture Research Institutes with budget of Rupees 2225.46 crores for solidifying and evolving higher agricultural education in India.
Key Highlights

• The action plan consists of several fresh enterprises including attracting talented students, dipping academic inbreeding and tackling faculty shortage.
• It will also take care of green initiatives, international ranking, involvement of alumni, innovations promotions, enthused teacher network, technology abled learning, fellowships, agriculture education portal and scientific social responsibility.
• The plan would also deliver provision for fortifying and modernisation of infrastructure linked to students and faculty facilities and bulk building of both faculty and students in cutting-edge areas, which will advance teaching and inspire holistic development of the students.
• On the other hand, ICAR-NAARM will provide to the bulk building needs of the HR and shareholders of the full National Agricultural Research & Education System, resulting to enhancing of capabilities and capacities of the shareholders including farmers, young scientists and students.

Dhanush artillery gun clears third and final trials directed from - 31st May - 7th June 2018

The Made in India advanced artillery gun Dhanush has effectively finished final user trials and is ready for initiation into Indian Army. During 3rd and final phase of user exploitation firings directed from May 31st -June 7th, 2018 at Pokhran firing range, 6 Dhanush guns were test-fired in battery formation with 301 rounds each. Thus, Dhanush artillery gun has been tested in all topographies.
More about Dhanush

• Dhanush is advanced version of Swedish 155mm Bofors howitzers, that India obtained in the middle of 1980s.
• It is also known as desi Bofors with 155mm and 45mm calibre artillery gun.
• It has been produced by OFB, Kolkata grounded on needs of Indian Army and build by Gun Carriage Factory Jabalpur.
• Its arming system consists of a barrel, muzzle brake, breech device and recoil device to shot 155mm calibre ammunitions with a strike range of 38 kms with accuracy.
• It delivers greater fire power, depending on the ammunition used. It also has Night Firing Capability in direct fire mode.
• It has various noteworthy advance features of an electric drive, greater mobility, quick installation, advanced communication system and automated command & control system.
• It has 6 round magazine that weighs slightly extra normal due to the greater chamber.
• Its 81 percent machineries are developed in India and it will be scaled about 90 percent by 2019. the power pack, electronic suite parts and few seals and bearings are the imported systems.
• Each of this gun costs around Rupees 14.50 crores. Indian Army has well-ordered 114 guns that will be carried within 4 years.
• The 1st phase of trials was carried out between July-September 2016 at Pokhran and Babina ranges.
• The 2nd phase was carried out between October-December 2016 at Siachen base camp with 3 guns.

World Sustainable Gastronomy Day celebrated globally on - 18th June 2018

The World Sustainable Gastronomy Day is celebrated every year on June 18th worldwide. The day recognizes gastronomy as cultural expression linked to natural and cultural diversity of the World. It also reiterates that all cultures and societies are contributors and vital enablers of sustainable development. 
More about Gastronomy

It is the study of relationship among food and culture. It is an art of cooking and serving delicate and appetizing food, cooking patterns of various regions, and science of good and healthy eating.
Did you know?
The World Sustainable Gastronomy Day was announced by the UN General Assembly by accepting resolution in December 2016. Celebrations of this day, highlights necessity to focus world’s attention on part that sustainable gastronomy can play crucial role due to its inter-linking with 3 dimensions of sustainable development in attaining Sustainable Development Goals by encouraging agricultural development, food security, sustainable food production and biodiversity conservation.

 ‘Year of Disabled Soldiers in Line of Duty’ 2018 observed by - Indian Army

The Indian Army is celebrating the year 2018 as the ‘Year of Disabled Soldiers in Line of Duty’ to bestow
soldiers who have been incapacitated during their duty hours while working for the country and to observe the undying spirit of ‘Soldiering’.
Key Highlights

• The Union Government is accepting the proposal of a main funding to start a separate endowment that can be further improved with the charities from individuals, institutions and business sector for simplifying meaningful creativities for disabled soldiers.
• On the flip side, the Indian Army devices to spread awareness on organisational provision available to soldiers and their family with respect to medical, restoration, advantageous schemes of the central and state governments etc.
• The Indian Army also devices to highlight the talented disabled soldiers by planning sports/physical activities, various cultural events and their art-exhibitions.
• The Indian army also outlines to colect due support for the unemployable disabled soldier and his family with a starting financial funding to make sure a life of dignity through semi-funded private enterprise venture.

Union Government collaborates with Google for flood forecasting on - 18th June 2018

India’s top technical firm in the field of Water Resources- Central Water Commission, on June 18 th , 2018 inked an Agreement with Google for flood forecasting. Union Minister for Water Resources, River Development and Ganga Rejuvenation, Nitin Gadkari has showcased that partnership with Google will benefit in effective flood management in India.

Agreement between Central Water Commission and Google

• Central Water Commission would utilise updated technology of Google for Artificial Intelligence, machine learning and geo-spatial mapping for actual management of water resources in the field of flood forecasting.
• The contract includes distribution of flood related news to the people by the distribution platforms established by Google.
• This contract will assist crisis management firms to deal extreme hydrological programmes in a much better manner. The data would be dispersed with a lead time of about three days.
• For the flood season of 2018, flood forecasting would be accomplished on trial and the same would be mounted in the future.
  Importance
• The partnership between the Government and Google on flood forecasting is believed to complete the much-awaited mandate of the residents of the flood prone areas for flood warnings with adequate lead time.
• It will save huge money that government have to be spent on getting high resolution Digital Elevation Model, high end computational resources and evolving dissemination platforms used by the people.
• This cooperative initiative is anticipated to be a milestone in flood management and in justifying the flood losses.