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Current Affairs of 3 September 2018

Keshav Kishore, Published On:03-Sep-2018


1.       Mauritius: Largest Source of FDI

·  Mauritius was the top source of Foreign Direct Investment (FDI) into India in 2017-18 followed by Singapore.

· The total inflow from Mauritius was $13.41 billion slightly up from previous financial year ($13.38 billion was in 2016-17).

· FDI from Singapore increased from $6.52 billion to $9.27 billion.


2.        Public Credit Registry

·     It is an information repository that collates all loan information of individuals and corporate borrowers.

·     Credit repository helps banks distinguish between a bad and good borrower and accordingly offer attractive interest rates to good borrowers and higher interest rates to bad borrowers.

·     Public Credit Registry (PCR) is based on the recommendation of a committee, headed by Y. M. Deosthalee.

·     PCR will also help India’s rankings in World Bank’s ease of doing business index.

·     It is an attempt to bring all the available data about credit across multiple systems in one window.

·     The initiative will also endorse financial inclusion as it will increase credit the credit availability to micro, small and medium enterprises with satisfactory payment history and validated debt information.

· PCR will incorporate unique identifiers i.e. Aadhaar for individual borrowers and Corporate identification Number for firms.


3.        One liner Current Affairs

· Wipro got $1.6 billion 10-year contract to provide digital solutions to Illinois–based Alight Solutions LLC.

·     Walmart Inc had completed acquisition of the 775 stake of Flipkart which is about $16 billion deal.

·     SBI and ICICI have increased their Marginal Cost Lending Rate (MCLR). MCLR of SBI and ICICI are 8.45% and 8.55 respectively from September 1.

·     Sericulture farmers will have higher yields of silkworm cocoons as Central Silk Board (CSB) has notified some of the recently developed races of mulberry and vanya silkworm eggs.

·     R Madhavan has been appointed as Chairman and Managing Director of Hindustan Aeronautics Limited (HAL).

·     US India Business Council (USIBC) will hold its first summit in Mumbai.

·     Sixth East Asia Summit will be held in Singapore and India will be represented by union Commerce and industry Minister Suresh Prabhu.

· Chief Minister of Uttar Pradesh Yogi Adityanath launched first hi-tech cruise ‘Alaknanda’ on the banks of river Ganga in Varanasi. The cruise will accommodate 60 passengers who can now see the beauty of Varanasi Ghats using the cruise.

· President Ram Nath Kovind will be on a 3 nation tour- Cyprus, Bulgaria and Czech Republic.

· According to data from the UN world Tourism Organization, International tourist arrivals hit record high in 2017 in India.

· Union Health Ministry has released draft rules on sale of drugs by e-pharmacies with an aim to provide genuine drugs from authentic online portals.

· Japanese swimmer Ikee Rikako has been named as Most Valuable Player of the Asian Games 2018 held in Jakarta, the Capital of Indonesia. She won 6 gold medals and two silver medals and she also received $50,000 as prize money.





Source: The Hindu, The Indian Express, PIB

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