Current Affairs Daily Digest – August 17′ 2017

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  1. Corporation bank bagged best performance award from NABARD awards committee

Corporation Bank bagged the best performance awards for SHG-bank linkage program for Karnataka for 2015-16 and 2016-17 from National Bank for Agriculture and Rural Development (Nabard).

The bank was given the award for its overall performance under SHG-bank linkage program for 2015-16 and 2016-17 among commercial banks operating in Karnataka. The bank formed more than 1.32 lakh self-help groups (SHGs).

  1. Marg ERP Awarded Best Start-Up in Skill Development by ASSOCHAM

At a gala ceremony organized by ASSOCHAM, Marg ERP, which has been actively involved in the government Skill India Program, was awarded the Best Start-Up in Skill Development.

The award was given by Mr Rajiv Pratap Rudy, Union Minister of State for Skill Development, Government of India.

Marg ERP is the country’s fastest growing integrated business management and inventory application software provider has been in the forefront of Skill India campaign.

The company has set up has set up 500 academies across India for training personnel in software inventory and accounting. It plans to scale this up to 2000 by 2018.

  1. Karnataka Vikas Grameen bank won the best performer award

National Bank for Agriculture and Rural Development (NABARD) conferred the ‘best performance award’ for 2015-16 and 2016-17 to Karnataka Vikas Grameen Bank (KVGB) for its work in the field of credit-linking joint liability groups (JLGs).

The outstanding accounts under JLGs stood at 6,329 involving an amount of Rs 63.83 crores. JLGs (Joint Liability Group) were credit-linked by disbursing Rs.19.38crore during 2016-17.

  1. Neymar takes up goodwill ambassador position for Handicap International

Brazilian star Neymar has become a goodwill ambassador for Handicap International, pledging to work for millions who are ‘less visible’ but deserve equality.

Fresh from his first win with Paris Saint-Germain and his world-record signing from Barcelona, d was worth £198million, Neymar was announced as a goodwill ambassador outside the United Nations in Geneva.

  1. Cabinet approves new mechanism to speed up strategic disinvestment

To accelerate strategic disinvestments in central public sector enterprises (CPSEs), the cabinet committee on economic affairs (CCEA) mandated a panel headed by finance minister Arun Jaitley to oversee the asset sale process.

In this regard, the proposal was forwarded by the Department of Investment and public Asset Management (DIPAM).

DIPAM is the nodal agency of Union Finance Ministry mandated to advise the Union Government in the matters of the financial system.

  1. Union cabinet approves creation of a single non-lapsable corpus fund for secondary

The Union Cabinet has accorded its approval for the creation of a non-lapsable pool in the Public Account for secondary and higher, education is known as” Madhyamik and Uchchtar Shiksha Kosh” (MUSK) which all proceeds of “Secondary and Higher Education Cess” are credited.

The funds arising from MUSK will be utilized for schemes in the education sector which will be available for benefit of students of secondary and higher education.

  1. ‘Indira canteen scheme’ launched in bengaluru

Congress vice-president Rahul Gandhi has launched the Indira Canteen scheme—a state government initiative named after former prime minister Indira Gandhi—aimed at providing food at low cost to the urban poor.

The canteen, located in Kanakana Palya (Jayanagar) in Bengaluru, is one of 101 such that opened across various locations in Bengaluru.

  1. State bank of India gives leg-up to CSR initiatives

State Bank of India launched a CSR (Corporate Social Responsibility) initiative,SBI Gram Seva, which will work in the areas of health, education, environment and rural infrastructure.

The SBI Foundation will identify and partner with NGOs to carry out CSR initiatives under which it adopts five villages each from 10 village panchayats with each village getting around Rs 2.40 crore over the next three years.

Initially, 10-gram panchayats comprising of 50 villages in six states have been adopted.

  1. City union bank offers instant credit cards

City Union Bank is going to offer instant credit cards and customers can generate a credit card online. The bank introduced the option of an “instant credit card” for free for its Net banking customers.

The physical delivery of the card will take a day or two. In the meantime, the card-holder can use it for online purchases. CUB has tied-up with MasterCard for the instant credit card.

  1. Qatar launches new direct sea route to Pakistan as Gulf blockade continues

Qatar has launched a new direct route between the country’s Hamad Port and Pakistan’s port of Karachi

The new route was launched and it will boost trade between the two countries. It will also offer “fast and secure” corridor for importers and exporters, with transit time of six days from Qatar to Karachi and eight days back

Saudi Arabia, Bahrain, the United Arab Emirates (UAE) and Egypt imposed land, air and sea blockade on Qatar since 5 June, accusing it of financing extremist groups and allying with the Gulf Arab state’s arch-foe Iran

  1. Italy to host G7 interior ministers’ summit on security

Italy will host a summit of G-7 interior ministers centered on security issues.

According to Italian Interior Minister Marco Minniti, the meeting is being organized at the request of Italy’s G-7 partners namely Canada, France, Germany, the United Kingdom, Japan and the United States. The summit is expected to be held in October.

  1. Parsi New year 2017: Here’s why India celebrates Navroze in August

Parsi NewYear, Navroz is being celebrated across the world.  The festival is celebrated by follows of Zoroastrianism in Middle-East, USA and South Asian countries such as India and Pakistan.

The vibrant festival began 3,000 years back by the mighty emperor Jamshed, who introduced the new calendar in Persia.

The day is celebrated to gain health, wealth, prosperity, and productivity. Four ‘Fs’ – Fire, Fragrance, Food, and Friendship play an important role in the celebration.



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