1.Banks and financial institutions, including SBI, PNB and LIC entered into an overarching inter-creditor agreement (ICA) to fast track resolution of stressed assets of Rs 50 crore or more.Under the pact, which is part of project ‘Sashakt’, each resolution plan will be submitted by the lead lender to an Overseeing Committee.The ICA has been signed by 22 public sector banks.
2.Federal Bank has received the regulatory nod to open offices in Bahrain, Kuwait and Singapore, but is awaiting local clearances before it starts operations.Federal bank already has representative offices in Abu Dhabi and Dubai.The bank will be focusing more on the unsecured lending segment, where its book stands at Rs 380 crore at present.
3.NASA will launch mankind’s first mission to the Sun – a car-sized probe that will swoop to within 4 million miles of the solar surface.The ‘Parker Solar Probe’ will study the Sun closer than any human-made object ever has.The Parker Solar Probe carries a lineup of instruments to study the Sun.Parker Solar Probe will explore the corona, a region of the Sun only seen from Earth.
4.According to HRD Ministry data, the revenue generated by IIT-Bombay in the last three years through research, inventions, consultancy and patents was the highest among the premier engineering institutes.IIT Bombay was founded in 1958.
5.The government has reduced the minimum annual deposit requirement for accounts under Sukanya Samriddhi Yojana to Rs. 250.The move will enable more people to take advantage of the girl child savings scheme.The government has amended the Sukanya Samriddhi Account Rules, 2016 for the purpose. The minimum initial deposit to open the account earlier was Rs. 1000.
6.The 10 major economies of Asia, including India, are expected to see robust growth and amount to over $28 trillion in real GDP terms on aggregate, more than the U.S. by 2030, says a DBS report.According to DBS the Asia, the 10 economies are – China, Hong Kong, India, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan, and Thailand.
7.Indian badminton player Lakshaya Sen bagged the gold medal after defeating Indonesia’s top-seeded Kunlavut Vitidsaran in the final match of the Badminton Asia Junior Championship in Jakarta, Indonesia.
8.Los Angeles Times and Pulitzer Prize-winning restaurant critic Jonathan Gold passed away at 57.
9.According to the Public Affairs Index 2018, Kerala is the best-governed state in the country, released by a Bengaluru think-tank, Public Affairs Centre.
10.Union Environment Minister Harsh Vardhan unveiled a state-of-the-art Air Quality and Weather Forecast System– ‘SAFAR’ (System of Air Quality and Weather Forecasting) at Chandni Chowk in New Delhi.The Environment Ministry’s mission model project ‘SAFAR’ is being implemented in four cities of India – Delhi, Pune, Mumbai and Ahmedabad as an operational service.First of its kind in the country, the system was developed indigenously by Indian Institute of Tropical Meteorology, Pune and operationalised by India Meteorological Department (IMD).
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