Current Affairs of 19 September 2018

Current Affairs of 19 September 2018 following:-

1.SEBI Approves New KYC Norms For FPIs, Revised Settlement Mechanism:-

  • Markets regulator SEBI approved a slew of proposals, including a revised framework for the settlement of cases and new KYC norms for foreign portfolio investors.
  • The watchdog has approved a proposal to allow foreign investors to trade in commodity derivatives market, except for sensitive commodities, as well as a common application form for the registration of FPIs in the domestic market. 
  • The board has given its nod for amending delisting regulations. Further, inter-operability of clearing houses for commodities and new methodology to calculate the total expenses ratio for fund managers have been cleared. 

2. Provision Of Penalties Incorporated For States, Insurance Companies for Delay in Settlement of Claims:-

  • The government has incorporated provision of penalties for States and Insurance Companies for the delay in settlement of insurance claims under the Pradhan Mantri Fasal Bima Yojana (PMFBY). According to the new guidelines, the farmers will be paid 12% interest by insurance companies for the delay in settlement claims beyond two months of prescribed cut-off date.
  • State Governments will have to pay 12% interest for the delay in the release of the State share of subsidy beyond three months of prescribed cut-off date submission of requisition by insurance companies.

3. Vodafone Idea Board Approves Merger With Aditya Birla Telecom:-

  • The Board of Directors of Vodafone Idea Limited, India's largest telecom operator, approved the merger of the Vodafone Idea Limited with the Aditya Birla Telecom Limited (ABTL), the parent company of Idea Cellular. The merger was approved under the relevant provisions of the Companies Act, 2013.
  • The merger is now subjected to the approval of the National Company Law Tribunal. The Aditya Birla Telecom Ltd holds 11.15% stake in telecom infrastructure firm Indus Towers Ltd. 

4. Union Home Secretary Launches ‘e-Sahaj’ Portal For Grant Of Security Clearance:- 

  • The Union Home Secretary Rajiv Gauba launched an online ‘e-Sahaj’ portal for grant of Security Clearance. The portal will facilitate an applicant to submit an application online and also to view the status of his application from time to time.
  • With the introduction of an online portal, the process has become standardized, resulting in a process which will be faster, transparent and easy to monitor. 

5. India Signs Financing Loan Agreement With World Bank For UKWDP:- 

  • A Loan Agreement for IBRD Credit of US$74 million equivalent for the Uttrakhand Workforce Development Project (UKWDP) was signed between India and the World Bank.
  • The Project objective is to improve the quality and relevance of training at priority Industrial Training Institutes (ITIs) and to increase the number of labor-market-relevant workers through short-term training in Uttrakhand. 

6. PM Inaugurates Key Development Projects In Varanasi:- 

  • The Prime Minister, Narendra Modi inaugurated and laid the Foundation Stone for several important development projects, at a public gathering in Banaras Hindu University, Varanasi. 
  • Among the projects inaugurated are the Integrated Power Development Scheme (IPDS) for Puraani Kashi; and an Atal Incubation Centre at BHU. 
  • Among the projects for which the Foundation Stone was laid is the Regional Ophthalmology Centre at BHU. The cumulative value of all projects which were inaugurated, or for which foundation stone was laid is over Rs. 550 crores. 

7. Important Cabinet Approvals: 19th September 2018:-

  •  The Union Cabinet chaired by Prime Minister Narendra Modi has given the following set of approvals. The important Cabinet Approvals are given as follows-
  • The Cabinet has approved- 

1. Equity infusion of RCF in Talcher Fertilizers Ltd.: approved the proposal of the Department of Fertilizers for an equity investment of Rs.1033.54 crore of the total project cost for setting up a Coal Gasification based fertilizer project in Talcher Fertilizer Ltd. (TFL) by Rashtriya Chemicals & Fertilizers Limited (RCF).

8. Cabinet Approves Ordinance Making Triple Talaq A Punishable Offence:-

  • The Union Cabinet has approved an ordinance making triple talaq a punishable offense. The Supreme Court had in a verdict in August last year declared it illegal and unconstitutional. 
  • It was cleared by the Lok Sabha but was stuck in the Rajya Sabha. Though the ordinance has been cleared, for now, it must be placed before the Parliament and the bill would still need to be passed. 

          9. PM Modi, Bangladeshi PM Sheikh Hasina Jointly Launched Indo-Bangla Pipeline Project:-

          • Prime Minister Narendra Modi and his Bangladesh counterpart Sheikh Hasina jointly launched the construction of India-Bangladesh Friendship Product Pipeline Project through video conferencing. The project will go a long way in strengthening the Indo-Bangla ties.

          10. Lewis Hamilton Wins Singapore Grand Prix 2018:- 

          • Lewis Hamilton won the Singapore Grand Prix at Marina Bay Street Circuit, in Singapore. Mercedes’ Lewis Hamilton won the 1st position. He was followed by Red Bull’s Max Verstappen in the 2nd spot. 
          •  Ferrari’s Sebastian Vettel finished in the 3rd place. With this victory, Lewis Hamilton has increased his chances of winning this year’s Formula One World Championship. 

          11. Independent India’s 1st Woman IAS Officer Passes Away:-

          • India’s first woman IAS officer after Independence, Anna Rajam Malhotra, who served in the Madras State under then Chief Minister C. Rajagopalachari and at the Central government, died in Mumbai.
          • She was 91. Ms. Malhotra joined the civil services in 1951 and opted for the Madras cadre. 

          Current Affairs Month