1.Union Minister of State (IC) for Power and New and Renewable Energy, Shri R.K. Singh inaugurated the ‘Indian Power Stations 2018’ in New Delhi. It is the three-day International Conference on Operations and Maintenance. The Minister exhorted the NTPC to become India’s power sector multinational by setting up power plants in other Nations and become world’s largest power producer. The Minister stated that neighboring countries like Sri Lanka, Myanmar, Nepal, and Bangladesh are viable markets for export of power, where per unit cost of electricity is very high.
2.India’s 1st Online Radio Station Launched.India’s 1st Online Radio Station ‘Radio Umang’ was launched recently in India.Listeners can tune in to this online radio station through web streaming or download the app.With 24 hours programming, it has found listeners in Hindi speaking regions of India and in over 60 countries worldwide.
3.India-Russia Agriculture Business Summit 2018 was held in New Delhi. The two countries discussed trade relations in the agricultural sector. The summit was organized by the Ministry of Agriculture & Farmers Welfare.
4.Sita Nadi Sanctuary is situated in the district of Dhamtari in Chhattisgarh. After the passing of Wildlife Protection Act of 1972, Sita Nadi Sanctuary was established in 1974.
5.Reserve Bank of India has made banks’ priority sector norms lenient by saying that all loans to micro small and medium enterprises (MSME) will henceforth qualify as priority sector lending. This was a long time demand from banks.Till date, loans up to Rs 10 crore per MSME borrower was considered for priority sector calculation.The sub-target for bank lending to the micro enterprises has been 7.50 percent of adjusted net bank credit or credit equivalent amount of off-balance sheet exposure, whichever is higher.Foreign banks will also have to follow 8% sub-target for lending to the small and marginal farmers.
6.Kannada litterateur Chandrashekar Kambar elected as president of the Sahitya Akademi in the election held for the post. He replaced Vishwanath Prasad Tiwari. Hindi poet Madhav Koushik has been elected as vice-president.
7.President Ram Nath Kovind inaugurated the international conference ‘Agricon 2018’ and ‘Agriexpo 2018’ at Kanpur‘s Chandrashekhar Azad University of Agriculture and Technology (CSAUT) in Uttar Pradesh.President Kovind emphasised on the need to see grain production, dairy farming, animal husbandry and fisheries, poultry, horticulture and sericulture as part of a composite approach to modern agriculture.
8.New RBI norms to spur surge in NPAs’.RBI’s new norms could result in a jump in bad loans, according to Moody’s unit ICRA.The RBI said that for accounts where a bank’s exposure exceeds Rs. 2,000 crore, a resolution plan must be implemented within 180 days from the date of first default.In case a resolution is not implemented, lenders should file an insolvency petition within 15 days of the expiry of the 180 days.
9.The TiE Global Summit (TGS) will be held in Mumbai, Maharashtra on February 21 and 22.The summit is being held in association with leading government agencies and over 20 TiE chapters across India, USA, Canada, Singapore, Hong Kong, Australia and Dubai,with the aim of setting the tone for the next wave of business and innovation.
10.The defense ministry of India approved capital acquisition proposals worth Rs.15,935 crore which included the purchase of 7.40 lakh assault rifles, 5,719 sniper rifles, and light machine guns to bolster the strength of the armed forces. The long-pending proposals were cleared at a meeting of the Defence Acquisition Council (DAC), the defense ministry's highest decision-making body on procurement. The meeting was chaired by Defence Minister Nirmala Sitharaman. For the Indian Navy, the DAC also approved the procurement of Advanced Torpedo Decoy Systems (ATDS) at a cost of Rs. 850 crore.
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