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Evening News Digest, 17 October 2017

Swraj Paul honoured for contributions to manufacturing, education

  • Winner of lifetime Achievement Award - Prominent NRI industrialist Lord Swraj Paul has been conferred with the Life Time Achievement Award here for his outstanding contributions in the fields of manufacturing industry, education and philanthropy.
  • Where the event was held: The 2nd British Asian Achievers Awards, organised by Jagatwani, a Hindi weekly, was held at the Grosvenor Hotel, London.
  • Who is Swraj Paul:  the first person of Indian origin to hold the post of Deputy Speaker of the House of Lords, a position he held from 2008 to 2010. He was awarded the Padma Bhushan by the Government of India in 1983.

Source: India Today

Project CHAMAN to be completed by March 2018

  • When the project was launched: To increase farmers income, a pioneer project called CHAMAN, was launched three years back by the Government.
  • Expected to complete by:  The project is likely to be completed by March 2018
  • Horticulture Sector: The Horticulture sector is one of the major drivers of growth in Agriculture sector. This sector provides nutrient rich crops to the people and better remunerative prices to the farmers thereby augmenting their income.
  • Objective: The project is a pioneer project in which remote sensing technique is being used for strategic development of horticulture sector as also to increase the farmers’ income. It gives methodology for preparing reliable estimates of horticulture crops. It will also help the farmers to generate better income.

Source: PIB

Kavita Devi becomes first Indian Woman to sign with WWE

  • Kavita Devi, formerly a powerlifter, became the first Indian woman to sign up for the World Wrestling Entertainment (WWE).
  • Devi who hails from Haryana underwent training to become a professional wrestler under the guidance of The Great Khali (Dalip Singh Rana) at his training academy in Punjab. She shot to fame after her video, where she competed against a fellow wrestler B B Bull Bull went viral.
  • The Great Khali and Jinder Mahal became the two male wrestlers to be snapped up the largest wrestling company in the world.

Source: The Indian Express

 Exercise INDRA - 2017: Indo-Russia Joint Exercise

  • First Ever International Tri Service Exercise: The Indo-Russian defence cooperation a major boost, Exercise INDRA-2017, is the first ever Tri Services Joint Exercise between Indian and Russian Armed Forces. It will be for the first time that India will participate in a tri-services military exercise with a foreign country.
  • When and Where Exercise will be conducted: It will be conducted in the Eastern Military District of Russia from 19 to 29 Oct 2017.
  • Objective: The scope of the Exercise includes professional interactions, establishment of joint command and control structures between the Indian & Russian forces and elimination of terrorist threat in a multinational environment under the UN mandate. Exercise INDRA-2017 will strengthen mutual confidence, inter-operability and enable sharing of best practices between both the armed forces. It will be a landmark event in the history of Indo-Russian defence cooperation.

Source: PIB

First Investment Agreement signed between NIIF and Abu Dhabi Investment Authority

  • MoU to mobilise long term investment into NIIF: The first investment agreement signed between NIIF Master Fund and a wholly owned subsidiary of Abu Dhabi Investment Authority, to mobilise long term investment into NIIF.
  • The investment from ADIA Group would be 1 billion USD. Six domestic Institutional Investors (DIIs) viz. HDFC Standard Life Insurance Company Limited, HDFC Asset Management Company Limited, Housing Development Finance Corporation Limited, ICICI Bank Limited, Kotak Mahindra Old Mutual Life Insurance Limited, Axis Bank Limited will also be joining the NIIF Master Fund alongwith ADIA apart from Government of India.
  • Objective: This Agreement paves the way for creating significant economic impact through investment in commercially viable infrastructure development projects.
  • NIIF: The NIIF was created, after a decision by the Union Cabinet on 29.7.2015 and was envisaged to be established as one or more Alternative Investment Funds (AIFs) under the SEBI Regulations. The proposed corpus of NIIF is Rs. 40,000 Crores (around USD 6 Billion). GOI’s contribution to the NIIF shall be 49% of the total commitment at any given point of time.

Source: PIB

Selena Selvakumar wins triple gold medal at Egypt Table Tennis Championship

  • Young paddler Selena Selvakumar won triple gold medal at the Egypt Junior and Cadet Open Table Tennis Championship.
  • Top seeded Selena had to fight her way to the singles’ gold though, with her last two matches against the Alhodaby sisters going all the way. In the final, she beat second seeded Marwa Alhodaby 4-3 (11-5, 12-10, 8-11, 6-11, 11-3, 6-11, 11-4).

Source: Indian Express

Bus service between Nepal's Rolpa and New Delhi begins

  • A direct once a week bus service has commenced between Rolpa district in Nepal and Indian capital New Delhi.
  • Route: The Delhi-bound bus will travel via Liwang in Rolpa, Pyuthan, Bhaluwang and Nepalgunj, the Himalayan.
  • The bus will leave from Liwang, some 280 km west of Kathmandu, on Wednesdays. In return journey, the bus would start from New Delhi. The service has been initiated by the Rolpa Transport Private Limited.

Source: Business Standard

Punjab Cabinet approves new Industrial & Business Development Policy-2017

  • To boost industrial growth and economic activity, the Punjab cabinet approved the 'New Industrial and Business Development Policy-2017', paving way for the fixing of industrial power tariff at Rs 5 per unit and a one-time settlement of industrial loans.
  • Objective: Besides incentives for expansion and upgradation of existing units, the new policy envisages a one-time settlement for loans taken from the Punjab State Industrial Development Corporation (PSIDC).
  • The creation of a Rs 100 crore fund to promote start-up culture, establishment of a skills university and industry specific skill development centers, are other highlights of this policy
  • The new policy has been prepared in consultation with all stakeholders, including industrial associations and the departments concerned. Single window facility to existing enterprises at the district level and special relief for sick MSME units are other features.

Source: TO

Indian-origin teenager becomes UK's youngest millionaire

  • An Indian-origin teenager, Akshay Ruparelia, has become one of Britain’s youngest millionaires after his online estate agency business got valued at 12 million pounds in just over a year.
  • The 19-year-old juggled school work with negotiating property deals for his no-frills business that offers to sell properties for a fraction of the cost charged by established high street estate agents. This week “doorsteps.co.uk” became the 18th biggest estate agency in the UK.
  • He started his company with 7,000 pounds, borrowed from relatives, and now employs 12 people. His model is based on hiring an ever-expanding network of self-employed mothers across the UK, who show clients around the properties he has been asked to sell.

Source: The Indian Express

 FSSAI launches platform to use leftover food

  • New platform launched to use leftover food: On the occasion of World Food Day, the Food Safety and Standards Authority of India introduced an initiative -- Indian Food Recovery Alliance (IFRA).
  • Objective: The Platform is launched to fight hunger and also prevent food wastage in India. It is launched in collaboration with food recovery partners in the country. This initiative is an effort to recover surplus food that is lost and wasted at various stages. Through this initiative, several food recovery agencies will be able to work uniformly towards one common goal of saving food and distributing it to the needy so that India is able to eradicate hunger problems.
  • Who can access the platform: The main platform and mobile applications will be accessible to the registered people to donate food, and the food recovery agencies will ensure proper distribution of the food.

Source: The Hindu

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