1. PM to launch India Post Payments Bank
- The Prime Minister will launch the India Post Payments Bank (IPPB) at Talkatora Stadium in New Delhi on September 1st, 2018.
- Under the Department of Posts with 100%, GOI equity and is governed by the Reserve Bank of India.
- Conceptualized by the Reserve Bank of India (RBI).
- These banks can accept a restricted deposit (which is currently limited to ₹1 lakh per customer)
- These banks cannot issue loans and credit cards.
- Both current account and savings accounts can be operated by such banks.
- Payments banks can issue services like ATM cards, debit cards, net-banking and mobile-banking.
Bharti Airtel set up India’s first live payments bank.
2. National Scheduled Caste and Scheduled Tribe Hub (National SC-ST Hub)
- The National SC/ST Hub is an initiative of the Government of India targeted towards developing a supportive ecosystem towards SC/ST entrepreneurs.
- Under the Ministry of Micro, Small and Medium Enterprise(MSME).
- It was launched in 2016 in Ludhiana.
- The Hub operates out of the National Small Industries Corporation (NSIC) headquartered in Delhi, supported by a special cell created for this purpose.
3. Project Navlekha
- Google has launched Project Navlekha to expand the reach of Indian content.
- The project would allow Indian vernacular news publishers to get their content online.
- Currently, the project has publishers from Delhi and its reach would soon be expanded across India.
- It helps to make offline content easily and fully editable and publish online without expert digital knowledge.
- Navlekha aims to bring 135,000 local language publishers online.
Source- The Hindu
- Vostok 2018 is a large-scale upcoming Russian military exercise.
- To be held from 11 to 15 September 2018.
- The exercise will have more than 300,000 troops, 36,000 tanks, armoured personnel carriers, armoured infantry vehicles, over 1,000 military aircraft, two naval fleets participating.
- It will be held throughout Siberia and the country’s the Far East.
- The exercise will involve units from the Army, Air Force and Navy.
- The exercise will be the largest to be held in Russia since “Zapad-81” held by the Soviet Union in 1981.
- China and Mongolia are planning to participate in Vostok 2018.
5. National Mission on GeM
- National Mission on Government e Marketplace (GeM) will be launched on 5th September 2018.
- To accelerate the adoption and use of GeM by major central Ministries, State Governments and their agencies.
- The aim of the National Mission is to promote inclusiveness, transparency and efficiency in public procurement and achieve cashless, contactless and paperless transaction.
- This will increase overall efficiency and lead to cost saving on government expenditure in procurement.
- Government e-Marketplace (GeM) is the National Public Procurement Portal.
- The GeM platform provides online, the end to end solution for procurement of commonly used goods and services for all Central Government Departments and State Governments. Public Sector Units and affiliated bodies.
- The GeM was started on 26th of August 2018.
6. Law Commission favours One Nation, One poll proposal, recommends changes in Constitution & electoral laws
Key highlights of the report:
- The ‘draft’ report submitted to the Law Ministry recommended “holding of simultaneous elections to House of the People (Lok Sabha) and the State Legislative Assemblies (except the State of Jammu and Kashmir).”
- The Commission said holding simultaneous elections to Lok Sabha and state assemblies is a solution to prevent the country from being in constant election mode.
- It has recommended changes in the Constitution and the electoral law to hold the simultaneous polls.
- It will save public money, help reduce the burden on administrative setup and security forces.
- It also added that if simultaneous polls are held, the administrative machinery of the country will be continuously be engaged in developmental activities, rather than in electioneering.
- The panel, however, cautioned that holding simultaneous elections is not possible within the existing framework of the Constitution.
- Law Commission of India is neither a constitutional body nor a statutory body.
- It is truly an ad hoc and advisory body whose work is to do research and make recommendations for law reforms.
- None of these recommendations is binding upon the Government.
- Retired judge of Supreme Court heads India’s Law Commission.
- The First Law Commission was established in 1834 by the British Government under the Chairmanship of Lord Macaulay.
7. Global Mobility Summit: Move
- MOVE is a global mobility summit.
- The first of its kind in the country.
- Being organised by the Niti Aayog and other stakeholder ministries, including the ministry of road transport and highways.
8. Tiny crystals may lead to more powerful digital devices
- Scientists have developed a tiny electrical circuit that may lead to new digital devices with increasing amounts of computational power packed into a smaller space.
- The electrical circuit created by researchers at Curtin University in Australia is made from crystals of copper that are grown and electrically wired at the nanoscale.
- The researchers used a single nanoparticle to create an ensemble of different diodes – a basic electronic component of most modern electronic devices, which functions by directing the flow of electric currents.
9. India, ADB sign $346 Million loan agreement to improve State highways in Karnataka
Asian Development Bank
- The Asian Development Bank (ADB) is a regional development bank.
- Established on the 19th of December 1966.
- Headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines.
- It has 67 members.
- ADB is an official United Nations Observer.