Daily Current Affairs 8th January 2018

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Daily Current Affairs 8th January 2018

1. 18th All India Whips’ Conference at Udaipur, Rajasthan

The a Raje Scindia, presided over the inaugural session as the Chief Guest. The two-day conference is hosting around 90 Delegates belonging to 19 States and Centre.  The conference will conclude on 9thJanuary, 2018. he entire purpose of this conference is to strengthen the parliamentary democracy, its institutions and ultimately serve the people at large.

2. The Central Government notifies the Companies (Amendment) Act, 2017

The Central Government notified the Companies (Amendment) Act, 2017 (Amendment Act) on 3rd January, 2018. The provisions of this Amendment Act shall come into force on the date or dates as the Central Government may appoint by notification(s) in the Official Gazette. A few provisions in the Amendment Act have important bearing on the working of the Insolvency and Bankruptcy Code, 2016 (Code).
Section 53 of the Companies Act, 2013 prohibited issuance of shares at a discount. The Amendment Act now allows companies to issue shares at a discount to its creditors when its debt is converted into shares in pursuance of any statutory resolution plan such as resolution plan under the Code or debt restructuring scheme.

3. India and Saudi Arabia Signed bilateral annual Haj 2018 agreement.

UnionMinister for Minority Affairs ShriMukhtar Abbas Naqvi today said that Saudi Arabia has given the green signal for India’s decision to revive the option of sending Haj pilgrims through sea route also and officials from both the countries will discuss on all the necessary formalities and technicalities so that Haj pilgrimage through sea route can be started in the coming years.
A decision in this regard was taken yesterday,during the signing of bilateral annual Haj 2018 agreement between India and Saudi Arabia by Shri Naqvi and Haj and Umrah Minister of Kingdom of Saudi Arabia, His Excellency Dr Mohammad Saleh bin TaherBenten at Makkah.

4. Indian Railways conceives to deploy “Drone” cameras in all its Zones/Divisions to enhance safety and efficiency in train operations.

Indian Railways has decided to deploy “Drone” cameras (UAV/NETRA) for various railway activities especially project monitoring and maintenance of tracks and other railway infrastructure. It has been given directions to Zonal Railways to procure such cameras. This is in-line with Railways’ desire to use technology to enhance safety and efficiency in train opers and other railway infrastructure. It has been given directions to Zonal Railways to procure such cameras. This is in-line with Railways’ desire to use technology to enhance safety and efficiency in train operations.
“Drone” cameras shall be deployed to undertake monitoring activities of relief and rescue operation, project monitoring, progress of important works, conditions of track and inspection related activities. It shall also be used to assess preparedness of Non-Interlocking (NI) works, crowd management during fairs and melas, to identify scrap and also for aerial survey of station yards. It is going to be instrumental in providing real time inputs related to safety and maintenance of tracks and other railway infrastructure.

5. Paytm Payments Bank, IndusInd tie up for FD facility

Paytm Payments Bank today said it has partnered Induslnd Bank to introduce a facility to create a fixed deposit when the customer balance exceeds Rs. 1 lakh at the end of day.
Paytm Payments Bank customers can redeem their deposits instantly, anytime without paying any pre-closure or miscellaneous charges and can earn up to 6.85 per cent annual interest, the company said in a statement. Additionally, if a customer becomes a senior citizen before the maturity period, the account will be auto renewed under the senior citizen scheme.

6. NPCI plans to upgrade Unified Payments Interface

Enthused by the quantum jump in the volume and value of transactions in the last one-and-half years, the National Payments Corporation of India (NPCI) is examining the feasibility of introducing the next version of Unified Payments Interface (UPI). This version will allow transaction authorisation using Aadhaar-based biometric and mandate generation/recurring payment authorisation through one-time authentication. Banks, under the aegis of NPCI (the umbrella organisation for operating retail payments and settlement systems in the country), are closely examining the next version of UPI (UPI 2.0) keeping in view the aspects of user convenience and security.

7. India to woo ASEAN with connectivity, maritime projects

It is destination ASEAN for India this new year even as the government is all set to woo the 10 member countries with mega connectivity plans while paving the way for a grand roadmap on maritime security and cooperation. While all the heads of state of the ASEAN member countries will witness a grand display of India’s might in weaponry and armaments during the Republic Day celebrations, they will be given a detailed and elaborate presentation on India’s connectivity and maritime security plans by Prime Minister Narendra Modi a day before during the India-ASEAN Commemorative Summit.

8. Rural economy, monsoon to boost FMCG firms in 2018

In the next 12 months, consumer goods companies would see a revival, both in volume and margin terms, with an anticipated revival in the rural sector, said a report. With a few state elections and expected populist budget, the rural sector is anticipated to be prime beneficiary. This, coupled with improving macros and good monsoon after two consecutive droughts, also augur well, said the report on the consumer good sector brought by Edelweiss.
Rural markets are recovering, albeit at a slower pace, the report noted. Gross margin expansion will be soft since companies have hardly taken price hikes and have in fact cut prices due to reduced GST rates, it added. “Partially, companies will start spending on advertising,” the report noted. However, cost rationalisation should aid EBITDA margin eelligence platforms make further gains in the autonomous vehicle industry. The company—which already has partnerships in the industry with companies such as carmaker Tesla and China's Baidu—makes computer graphics chips and has been expanding into technology for self-driving cars. Nvidia CEO Jensen Huang said at the CES technology conference in Las Vegas that Uber’s self-driving car fleet was using their technology to help its autonomous cars perceive the world and make split-second decisions.