18 June 2016 – Daily Current Affairs
SBI (State Bank of India) floats IT-ISF (IT Innovation Start-up Fund) for assisting start-ups in the fintech space
On 16th June 2016 SBI (State Bank of India) announced the IT-ISF (IT Innovation Start-up Fund) for assisting start-ups in the fintech space. The bank will be floating Rs. 200 crore in this fund. Each registered firm will get up to Rs. 3 crore funds for the promotion of their innovations with the use of technology in the financial services. These fin-tech start-up firms are disrupting the existing financial business models by delivering low cost services with the use of technology.
AICTE & Microsoft signed agreement for building an app for the HRD ministry introduced SWAYAM platform
On 17th June 2016, AICTE (All India Council of Technical Education) & Microsoft signed agreement for building an app for the HRD ministry introduced SWAYAM platform. This will be a technical partnership wherein Microsoft will be building a massive mobile application system for SWAYAM (Study Webs of Active-Learning for Young Aspiring Minds), a platform initiated by the HRD (Human Resource Development) Ministry. This platform will be launching around 2000 MOOCs (Massive Open Online Courses) that will reach more than 3 crore students by 2016. This deal will coast Rs. 38 crore to AICTE and Microsoft will be running this mobile application for 3 years after which AICTE will take over the app.
Kolkata-Ashuganj-Tripura transit system becomes operational
On 16th June 2016, Kolkata-Ashuganj-Tripura transit system between Bangladesh and Indian became operational. This facility was opened as per the revised IWTTP (Inland Water Transit and Trade Protocol), 2016. The signing of this new transit facility scheme was done during Indian Prime Minister’s Dhaka visit. The objective of this visit was boosting trade as well as facilitating smooth movement of merchandise across Bangladesh region. This facility will reduce the trade journey between Bangladesh and India from 1600 Kms to 800 Kms.
Namibia and India and signed two MoUs on Civil Servant Services and ICT-COE
On 16th June 2016, Namibia and India signed two MoUs (Memorandum of Understanding). The first MoU was building capacity for the Namibian civil servants and the second MoU was setting up an ICT-COE (Information and Communications technology- Centre of Excellence). The agreement was signed between Hage Geingob of Namibia and President of India Pranab Mukherjee.
Union Government notified 10 CPS (coastal police stations) notified by Union Government lengthening their jurisdiction
On 16th June 2016, Union Government notified 10 CPS (coastal police stations) notified by Union Government lengthening their jurisdiction. The current jurisdiction of the government is twelve nautical miles that will be spreading to 200 NMs. These 10 PSs (police stations) share coastline in 8 states. These new stations were proposed for maintaining extra security purposes. After the terror attacks of 26/11, the securities of territorial waters were enhanced by extending the coast line up to 22 Kms from shore. This extension will help in minimizing terrorism and smuggling by stretching the current guard line to 2516 Kms across the Indian coast line.
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