Current Affairs Update – 28 August 2018

Current Affairs Update 28 August 2018

Current Affairs is an important part for many exams. Be prepared for this section with ByScoop which brings all the important Current Affairs in one place. 28 August 2018.

Piyush Goyal Inaugurates Smart Railway Conclave in New Delhi

  • Minister of Railways & Coal, Shri Piyush Goyal inaugurated Smart Railway Conclave in New Delhi.
  • The conclave was organised by Federation of Indian Chambers of Commerce and Industry (FICCI)

Centre signs MoU with 6 States for Water Project

  • Union Water Resources Minister Nitin Gadkari has signed a memorandum of understanding (MoU) with six states for the construction of the Lakhwar multi-purpose project in the upper Yamuna basin to deal with water crisis.
  • The 6 states include Uttar Pradesh, Rajasthan, Uttarakhand, Himachal Pradesh,  Haryana and Delhi.
  • The 204-metre high water storage project near Uttarakhand’s Lohari village will create storage facilities of 330.66 million cubic metres in the upper Yamuna basin to deal with water crisis between January and June.
  • The total project cost is Rs 3,966.51 crore.
  • 90 percent of the project will be funded by the Centre and the remaining amount by the six states.

India Signs $300 Million Agreement with World Bank To Scale-up Energy Efficiency Program

  • The Government of India and the World Bank has signed $220 million Loan Agreement and a $80 million Guarantee Agreement for the India Energy Efficiency Scale-Up Program.
  • The Program will be implemented by the Energy Efficiency Services Limited (EESL). It will help to scale-up the deployment of energy saving measures in residential and public sectors, strengthen EESL’s institutional capacity, and enhance its access to commercial financing.

Centre Signs $250 Million Agreement with World Bank to Support Electricity Distribution Sector Reforms in Rajasthan

  • The Government of India, the Government of Rajasthan and the World Bank has signed $250 million Development Policy Loan (DPL) to support the Government of Rajasthan in improving the performance of its Electricity Distribution Sector under the State’s 24×7 Power for All program.
  • The loan from the International Bank for Reconstruction and Development (IBRD), has a 3-year grace period, and a maturity of 21 years.

MoU Signed for Indore- Manmad New Railway Line Project

  • An MoU for implementation of the 362 km Indore- Manmad New Railway Line Project was signed between Jawaharlal Nehru Port Trust- Ministry of Shipping, Ministry of Railways, Govt of Maharashtra and Govt of Madhya Pradesh.
  • The implementation of the Rs 90 billion Indore-Manmad rail project will be through the Indian Port Rail Corporation Limited (IPRCL) on Joint Venture  SPV model. The project will be constructed within six years.

Naveen Patnaik launches ‘Mu Hero Mu Odisha’

  • Odisha Chief Minister Naveen Patnaik has launched the ‘Mu Hero Mu Odisha’ (I am hero, I am Odisha) campaign that aimed at identifying agents of change and recognising their contribution to the state.
  • The aim of this initiative is to identify the potential among the youth and recognise them in society. The ‘Mu Hero Mu Odisha’ programme will connect with the potential and aspirations of people from all sections of the society.

M.K. Stalin Elected as DMK President

  • M.K.Stalin has been elected as the DMK (Dravida Munnetra Kazhagam) President unopposed at the party’s General Council meeting in Chennai on August 28.
  • Stalin, 65, becomes the second President of one of the oldest political party in the country, a post held by his late father and five times Tamil Nadu Chief Minister M.Karunanidhi for 49 years.

Google Launches ‘Navlekha’ to Make Internet Work for More Indians

  • Google has announced the launch of a new project called Navlekha to make online content available for more Indians in their respective Indian languages.
  • Navlekha is derived from a Sanskrit meaning “a new way to write.”
  • The initiative is aimed at helping more users in India leverage the power of the Internet irrespective of their English language proficiency.

Google Tez rebranded as Google Pay; ties up with banks to offer instant loans

  • Google India, rebranded its payments app for India Google Tez as Google Pay, and also launched its new features. 
  • The company has announced that users will now be able to avail instant loans using Google Pay app. It has tied up with private lenders like HDFC Bank, ICICI Bank, Federal Bank and Kotak Mahindra Bank to offer customised loans, which will involve minimum paperwork. 
  • Google disclosed that since the launch of Tez, the platform saw over 750 million transactions worth over $30 billion (Rs 200,000 crore). 

YES BANK, Rajasthan govt. partner to launch payments wallet ‘Bhamashah

  • YES BANK has partnered with the Government of Rajasthan to launch Bhamashah Wallet. It is a simple instant payment digital wallet solution for the state of Rajasthan.
  • The Bhamashah wallet, Rajasthan government’s online payment application was launched by Chief Minister of Rajasthan, Vasundhara Raje. 
  • The wallet service was launched as a part of Bhamashah Yojana, a scheme introduced by the Government of Rajasthan to transfer financial and non-financial benefits of governmental schemes directly to women recipients in a transparent way.

DBS Named Best Bank in the World by Global Finance

  • Singapore based DBS Bank has been named Best Bank in the World by Global Finance Magazine particularly for its leadership in digital transformation.
  • The prestigious top award was conferred to DBS by Global Finance in its World’s Best Global Banks 2018 Awards.
  • DBS is the first Asian bank to receive the top honor by New York based magazine.

India’s 1st Manned Space Mission to Send 3 Persons

  • India’s first manned space flight – Gaganyaan – is expected to send three persons, including a woman, into the space for seven days. The spacecraft will be placed in a low earth orbit of 300-400 km.
  • Minister of State for Atomic Energy and Space, Jitendra Singh said GSLV Mk III, the three-stage heavy lift launch vehicle, will be used to launch Gaganyaan as it has the necessary payload capability.

NKFI to Launch Kabaddi League

  • The New Kabaddi Federation of India (NKFI), a leading association promoting the sport, is all set to launch Indo International Premier Kabaddi League, the first of its kind in the country.
  • The league has been conceptualised with the objective of promoting the Indian origin sport among Indian and international viewers.

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