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Daily G.K. - Top Stories

18 Mar 2018

INTERNATIONAL AFFAIRS

Xi Jinping re-elected as China President, Wang elected as Vice President

Xi Jinping was re-elected as President for a second five-year tenure by China's rubber-stamp parliament. The Parliament has recently allowed Xi to have a life-long tenure. Xi was also elected as the head of the powerful Central Military Commission, the overall high command of the Chinese military. He became president in 2013. Wang Qishan has been elected as the new Vice President of China.

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BUSINESS AND ECONOMY

Asian Development Bank shakes hands with India for improving operational efficiency of Indian railways

The Government of India and the Asian Development Bank (ADB) signed a $120 million loan agreement for completion of works for double-tracking and electrification of railways tracks along high-density corridors to improve the operational efficiency of Indian railways. The tranche 3 loan is part of the $500 million multi-tranche financing facility for Railway Sector Investment Program approved by the ADB Board in 2011. The loan amount will be used to complete the ongoing works commenced under earlier tranches. Sameer Kumar Khare, Joint Secretary (Multilateral Institutions), Department of Economic Affairs, Ministry of Finance signed the loan for the Government of India, and Kenichi Yokoyama, Country Director of ADB's India Resident Mission, signed on behalf of ADB. The project is aimed at enhancing the efficiency of the rail infrastructure through electrification, the introduction of the modern signaling system, and doubling rail tracks on key routes in the country. The Program will help develop an energy-efficient, safe, and reliable railway system that will result in reduced travel time along project rail routes and improved operational and financial efficiency Khare after signing the agreement.

SEBI raises currency derivative trade limit to $100 million

Capital markets regulator SEBI raised the exposure limit under exchange-traded currency derivatives trading for residents and FPIs to USD 100 million across all currency pairs involving the Indian rupee. The move will help entities engaged in forex transactions to maintain their currency risks in a better manner.

Muthoot Finance ties up with Global IME Bank

Muthoot Finance, the flagship company of Muthoot Group tied up with Global IME Bank to expand its money remittance services between Indo Nepal Corridor. Muthoot Finance is the only NBFC to extend the money transfer services from India to Nepal. In FY16, Muthoot Finance had collaborated with Nepal based Prabhu Bank for money transfer business wherein the company completed 2.2 lakh transactions worth Rs 4.69 billion. With Global IME Bank, this is the company's second tie-up in the region.

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SPORTS

Nepal cricket team gains ODI Status

After Afghanistan's rapid rise to prominence in limited-overs cricket, Nepal took a massive step forward after achieving One-day International status, after their victory over Papua New Guinea. Nepal defeated the Pacific nation by six wickets in a play-off game in the ICC World Cup Qualifier being held in Zimbabwe, achieving the distinction for the first time.

Young Shooter Devanshi Rana to participate in Jr World cup at Australia

The emerging shooter Devanshi Rana will show her talent in the junior shooting World Cup. Jaspal Rana is the Chief Coach of the Indian Shooting Team, while Subhash Rana will play the role of Technical Officer in the championship. The Indian team has been announced for the Junior Shooting World Cup in Australia from March 20 to 29. For the first time this year Devanshi Rana, a resident of Dehradun, has been given a place in the Indian team for two tournaments. Anand Singh Rawat, press secretary of Jaspal Rana shooting range located in Pontha, Mazon, told that Devanshi has left for Australia for the World Cup. They will show their confidence in 10 meter air pistol and 25 meter sports pistol. Rawat told that Devanshi won two medals in the National Shooting Championships. On winning the medal, trials were conducted by the Rifle Association of India. Participants in the first three positions in the selection trial organized for various events have been given a place in the team.

PV Sindhu swiftly makes her way in the semi final of All England Championship

There are very few badminton matches that exhaust you as a spectator. Badminton is an event which keeps the person glued to their seats. When it comes to PV Sindhu you ought to be glued to your seats. Olympic silver medallist shuttler, PV Sindhu produced a top-notched performance to spin out an exciting three-game victory over 2016 champion Nozomi Okuhara of Japan to progress to her maiden semi-final at the All England Championship. Sindhu come out triumphant and it was particularly pleasing to see how the 22-year-old successfully countered Okuhara's strengths with a more proactive approach despite chasing the match for most of the one hour and 24 minutes duration. It was the third straight three-game affair for Sindhu in the tournament. With this win, Sindhu, TOISA 2018 Badminton Player of the Year, also leveled the head-to-head tally 5-5 against the World No. 6. The Indian dominated the net next and then sent one to the back line to grab two match points and then sealed the contest with another precise on-the-line return, much to the delight of the Indian fans.

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NATIONAL AFFAIRS

Prime Minister inaugurates 105th Indian Science Congress

Prime Minister Narendra Modi inaugurated 105th session of Indian Science Congress (ISC) at Manipur Central University in Imphal. The focal theme of 5-day ISC is "Reaching the Unreached Through Science & Technology". The ISC 2018 was organized by the Indian Science Congress Association (ISCA), a premier scientific organization of India. Approximately, 5,000 delegates from all over the country and 2,000 scientists along with four Nobel Laureates are participating in this year mega event.

Lok Sabha passes Gratuity Amendment Bill

Lok Sabha passed Gratuity Amendment bill. The Payment of Gratuity (Amendment) Bill, 2017 aims at increasing the upper ceiling of the gratuity from the present 10 lakh rupees to 20 lakh rupees for employees in the private sector and in Public Sector Undertakings at par with Central Government employees. The House also passed the Specific Relief (Amendment) Bill, 2017 which seeks to grant a party the right to seek damages from the other side in case of a breach of a business contract and to reduce the discretion of courts in such matters.
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