1.Oxford Dictionary has declared the adjective ‘toxic’ as the Word of the Year 2018.The adjective toxic is defined as ‘poisonous’ and first appeared in English in the mid-seventeenth century from the medieval Latin ‘toxicus’.The Oxford Word of the Year is a word or expression that is judged to have lasting potential as a term of cultural significance.
2.Sunil Mehta panel has formed an Asset Management Company (AMC) for resolving large bad loans.The AMC will be called as ‘Sashakt India Asset Management’.The panel is now working towards identifying potential investors for an Alternative Investment Fund (AIF) which will fund the AMC.Sunil Mehta panel is working for the faster resolution of stressed assets in public sector banks.
3.NITI Aayog has constituted the ‘Himalayan State Regional Council’ to ensure sustainable development of the Himalayan region.The ‘Himalayan State Regional Council’ will be chaired by the NITI Aayog member Dr VK Saraswat.The council will also consist of the Chief Secretaries of the Himalayan States as well as the Secretaries of key Central Ministries, and senior officers of NITI Aayog.
4.The ‘International Day for Tolerance’ is annually observed on 16 November.The aim of the day is to educate people about the need for tolerance in the society and to help them understand the negative effects of intolerance.The United Nations has launched a new global campaign named ‘TOGETHER’ to promote tolerance, respect and dignity across the world.
5.Aadi Mahotsav’, a National Tribal Festival is being organised from 16th to 30th November 2018 in New Delhi by the Ministry of Tribal Affairs.The theme of the festival is ‘A Celebration of the Spirit of Tribal Culture, Craft, Cuisine and Commerce’.The Mahotsav will comprise of display and sale of items of tribal art and craft, tribal medicine and healers, tribal cuisine etc.
6.Japan International Cooperation Agency (JICA) will extend Rs. 5,000-crore loan to a 1,000 MW Turga pumped storage project in West Bengal.The project is coming up in the Ayodhya Hills in Purulia district, West Bengal.The project is scheduled for completion by 2027.A pumped storage power plant works as a large storage battery which generates power during peak periods.
7.Fitch Ratings retained India’s sovereign rating at ‘BBB-minus’.BBB-minus’ is the lowest investment grade rating.Fitch forecasts India’s growth to rebound to 7.3% in FY19 and 7.5% in FY20.The Fitch Ratings added that a recent analysis conducted by it found that India had the highest medium-term growth potential among the largest emerging markets.
8.Union Minister for Food Processing Industries Harsimrat Kaur Badal inaugurated the second Mega Food Park in Maharashtra on 15 November 2018.The Food Park is located in Paithan Taluka of Aurangabad district, Maharashtra.The first Food Park was inaugurated on 1st March 2018 in Satara district, Maharashtra.The Mega Food Park Scheme is implemented by Ministry of Food Processing Industries.
9.The conference on ‘Urban Infrastructure: New Approaches to Public & Private Partnerships and Municipal Finance Innovations’ was inaugurated in New Delhi on 15 November 2018.The conference was organised by NITI Aayog, United Nations Economic and Social Commission for Asia and the Pacific, and the Asian Development Bank.Key issues of the Urban Infrastructure were discussed at the conference.
10.The two-day summit to mark the World Tolerance Day was inaugurated in Dubai on 16 November 2018.The theme of the Summit was ‘Prospering from Pluralism: Embracing Diversity through Innovation and Collaboration’.The summit is expected to focus on the crucial role of women and the youth in spreading tolerance in their societies.
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