Important Current affairs for 7 sept 2018

National News

1.. Exide Life, PMC Bank Tie up

(i) Exide Life Insurance has announced a partnership with Punjab & Maharashtra Co-operative Bank (PMC Bank) to offer its protection and savings products to the latter’s customers.
(ii) PMC Bank is a multi-State scheduled urban cooperative bank with 127 branches spread across Maharashtra, Delhi, Karnataka, Goa, Gujarat, Andhra Pradesh and Madhya Pradesh. Exide Life Insurance works with around 50 banks.

Important Takeaways from Above News-

(i) Exide Life Insurance Company Limited commenced its operations in 2001-02.
(ii) It is head quartered in Bengaluru.
(iii) Kshitij Jain is the MD and CO of Exide Life Insurance.

2.. NITI Aayog Constitutes Expert Task Force on Employment & Exports

(i) NITI Aayog has constituted an Expert Task Force to provide a major thrust to job creation by enhancing India’s exports. It will be headed by NITI Aayog Vice Chairman Dr. Rajiv Kumar.
(ii) Members of the Task force include CEO, NITI Aayog, Secretaries of Departments of Commerce, Industrial Policy and Promotion, Economic Affairs and Textiles. Leading economists and industry experts are also members of the Task Force, which will submit its report by November 2017.

Important Takeaways from Above News-

(i) Narendra Modi is the Chairman of NITI Ayog.
(ii) On 1 January 2015, a Cabinet resolution was passed to replace the Planning Commission with the newly formed NITI Aayog (National Institution for Transforming India).

3.. Andhra Pradesh Signs MoU to Build India's First Hyperloop

(i) The Andhra Pradesh government has signed an MoU with the US-based Hyperloop Transportation Technologies (HTT)to build India's first Hyperloop system. The planned project is aimed at connecting cities Amaravati and Vijayawada in Andhra Pradesh, supposedly covering the distance of over 35 km in just five minutes.
(ii) The AP Economic Development Board (AP-EDB) and HTT signed the MoU in Amaravati. Under the MoU, a six-month feasibility study would be conducted from October.

Important Takeaways from Above News-

(i) N. Chandrababu Naidu is the CM of Andhra Pradesh.
(ii) E. S. L. Narasimhan is the Governor of Andhra Pradesh.

4.. SBI Life Insurance Gets SEBI approval for Rs 8,400 crore IPO

(i) SBI Life Insurance has received approval from the Securities and Exchange Board of India for an IPO (Initial Public Offering) of up to Rs 8,400 crore ($1.3 billion).
(ii) The IPO will involve 120 million secondary shares or 12 per cent of the insurer's equity capital. State Bank of India which currently owns 70.1 per cent of the insurer, will sell 80 million shares and BNP Paribas Cardif, holder of a 26 per cent stake, will sell 40 million.

Important Takeaways from Above News-

(i) Mr. Arijit Basu is the MD & CEO of SBI Life Insurance Co. Ltd.

5.. GIFT City Wins ASSOCHAM Services Excellence Awards

(i) India’s first operational Smart City and IFSC, Gujarat International Finance-Tec City (GIFT City), has won the prestigious Associated Chambers of Commerce and Industry of India (ASSOCHAM) Services Excellence Award.
(ii) At a summit held in New Delhi, GIFT SEZ was honored for its contribution to the growth of the International Financial Services and Technology Hub in India.

Important Takeaways from Above News-

(i) Ajay Pandey is the Managing Director and Group CEO of GIFT City.
(ii) GIFT City, India’s first International Financial Services Centre (IFSC)

6.. N. Baijendra Kumar Assumes Charge as NMDC Chief

(i) N Baijendra Kumar, an IAS officer of 1985 batch of Chhattisgarh cadre, has assumed charge as Chairman and Managing Director of NMDC Ltd.
(ii) Prior to joining NMDC, he was holding the post of Additional Chief Secretary to the Chief Minister, Chhattisgarh.

Important Takeaways from Above News-

(i) NMDC stands for National Mineral Development Corporation.

International News

1.. India and Japan Agree to Collaborate in Defence Production

(i) India and Japan have agreed to collaborate closely in defense production, including on dual-use technologies.
(ii) Defence Minister Arun Jaitley and his Japanese counterpart Itsunori Onodera signed the agreement during India-Japan annual defense ministerial dialogue in Tokyo. The two sides also agreed to ramp up counter-terror cooperation, besides deepening engagement among navies, air forces and ground forces of the two countries.

Important Takeaways from Above News-

(i) Shinzo Abe is the present Prime Minister of Japan.
(ii) The Capital city of Japan is Tokyo.

2.. Ashok Leyland Inks Pact with Rosoboronexport, ELCOM

(i) The defense entity of Hinduja Group flagship company Ashok Leyland had signed an MoU with Rosoboronexport, Russia, to supply tracked vehicle solutions to the armed forces.
(ii) Rosoboronexport (ROE) is the only State organization in Russia for export of the entire range of military products and technologies. Ashok Leyland signed another MoU with ELCOM Group which is also emerging as a significant player in strategic electronics, avionics, and tactical communication globally.

Important Takeaways from Above News-

(i) Rosoboronexport represents Russian companies engaged in the manufacturing of main battle tanks, infantry fighting vehicles and is currently working with the Indian Army.

3.. BSNL, Coriant Tie up to Chart 5G

(i) State-owned Bharat Sanchar Nigam Limited (BSNL) entered into an agreement with US-based networking solutions provider Coriant to chart the path to 5G and Internet of Things (IoT) in India.
(ii) The MoU was signed between BSNL and Coriant for laying the foundation for innovation in network architectures and services leveraging 5G, IoT, Software Defined Networking/Network Functions Virtualization (SDN/NFV), and mobile edge computing technologies.

Important Takeaways from Above News-

(i) Chairman & Managing Director of BSNL is Shri Anupam Shrivastava.

4.. UJALA Scheme Launched in Melaka, Malaysia

(i) Energy Efficiency Services Limited (EESL), under Ministry of Power, Government of India has launched UJALA (Unnat Jyoti by Affordable Lighting for All) Scheme in the State of Melaka, Malaysia.
(ii) The Scheme was launched by Chief Minister of Melaka Datuk Seri Utama Ir. Hj. Idris Bin Hj. Haron. Under this scheme, each household in Melaka will get 10 high-quality 9-watt LED bulbs.

Important Takeaways from Above News-

(i) PM Modi on January 5, 2015, had launched the world's largest, and most extensive LED distribution program, UJALA (Unnat Jyoti by Affordable Lighting for All).

5.. Indo-US Exercise Yudh Abhyas 2017

(i) A joint military training, Exercise Yudh Abhyas-2017 will be conducted at Joint Base Lewis McChord, Washington, USA from 14 to 27 September 2017 between India and the USA.
(ii) .Exercise Yudh Abhyas is one of the largest joint running military training and defense corporation endeavors between India and USA. This will be the 13th edition of the joint exercise hosted alternately between the two countries.

Important Takeaways from Above News-

(i) Donald Trump is the 45th President of USA.

6.. Parineeti Chopra, First Indian Woman Ambassador For Tourism Australia

(i) Bollywood actress Parineeti Chopra has been appointed as the first Indian woman ambassador in 'Friends of Australia' (FOA) advocacy panel by Tourism Australia.
(ii) The 'Friends of Australia' program has been devised as a way of fostering mutually beneficial, long-term friendship with those that Tourism Australia regards as unique storytellers. The panel also includes influential personalities like chef Sanjeev Kapoor and cricket commentator Harsha Bhogle.

Important Takeaways from Above News-

(i) Malcolm Turnbull is the PM of Australia.
(ii) Canberra is the Capital of Australia.

Book and Author News

1.. Shyam Saran's Book 'How India Sees the World' Launched

(i) The book of Former Foreign Secretary Shyam Saran named “How India Sees the World: Kautilya to the 21st Century”- was launched by former Prime Minister Dr. Manmohan Singh.
(ii) In the book, Mr. Saran records the crucial meeting of the CCS (Cabinet Committee on Security) on the eve of India-Pakistan Defence Secretary-level talks in May 2006.

Important Takeaways from Above News-

(i) Dr. Subrahmanyam Jaishankar is the present Foreign Secretary of India.

Sports News

1.. India to Host Commonwealth Weightlifting Championships in 2019

(i) India will host the 2019 edition of the Commonwealth (Youth, Junior and Senior) Weightlifting Championships.
(ii) The Executive Board of Commonwealth Weightlifting Federation met at Gold Coast, Australia and decided to allot the 2019 edition of the competitions to India. The current edition of the tournament is being held at the Gold Coast, Australia.

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