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Current Affairs of 2 July 2018

Keshav Kishore, Published On:02-Jul-2018

 

1.        Victorian and Art Deco gets World Heritage tag

·      UNESCO has recognized Victorian and Art Deco building as the 37th World Heritage of India.

·      The listing came after the decision taken in the recent meeting of UNESCO held in Bahrain.

·      The site has become third such-site from Mumbai and 5th such-site from Maharashtra.

 

2.        RCEP trade bloc meeting in Tokyo

·      Regional Comprehensive Economic Partnership (RCEP) trade bloc meeting was attended by trade ministers from 16 Nations.

·      RCEP is an agreement among ASEAN countries and 6 other nations – India, China, Japan, South Korea, Australia and New Zealand.

·      The partnership doesn’t consist two major economic powers of the world- US and Russia.

·     The recent development will put pressure for US to reconsider TPP (Trans-Pacific Partnership) as the agreement may increase US trade deficit with other countries such as India and China.

 

3.        National Saving Certificate (NSC)

·      NSC is a fixed return investment scheme offered by the Central government through Department of Post.

·      The minimum investment can be of Rs. 100 and additional investment can be made in the multiples of Rs. 100.

·      There is no cap for the maximum investment and it has a lock-in period of 5 years i.e. a person can’t withdraw any sum before 5 years.

·       The investment under NSC can get tax rebate under section 80C of Income Tax Act of up to Rs. 1.5 Lakh investment

·      The current interest rate for the investment under NSC is 7.6 percent.

 

4.        Exchange Traded Funds (ETFs)

·      ETFs are such type of funds which own the underlying assets such as bonds, foreign currency, gold bars, oil futures etc. and divide ownership of these assets into shares.

·      Liquid ETFs are traded on BSE and NSE just like equity shares.

·      Currently there are two liquid ETFs in India: Reliance Liquid BeEs and DSPBR Liquid ETF.

 

 ssSource: The Hindu, The Indian Express, PIB

 






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