PM Modi to visit Brazil for BRICS summit

9-11-2019

NATIONAL NEWS

PM Modi to visit Brazil for BRICS summit

• Prime Minister Narendra Modi will be on a two-day visit to Brazil from the 13th of this month to attend the 11th BRICS Summit in Brasilia. The theme of the Summit this year is "Economic Growth for an Innovative Future”.
• The Prime Minister will be accompanied by an official delegation. A large business delegation is also expected to be present during the visit, especially to attend the BRICS Business Forum where the business community of all five countries are represented.

No states score above 60% on justice delivery system: India Justice Report

• India Justice Report 2019, released by Tata Trusts, shows how none of 29 states in India scored above 60 per cent on its justice delivery system across four key pillars of police, judiciary, prisons and legal aid. All four cogs of the wheels are important for the justice system to work in harmony.
• The report used government data and was done in collaboration with Centre for Social Justice, Common Cause, Commonwealth Human Rights Initiative, DAKSH, TISS- Prayas and Vidhi Centre for Legal Policy.
• The Report ranked 18 large and mid-sized and seven small states to ascertain the strengths and deficits in each state and Union Territory to pinpoint interventions.
• Maharashtra tops the list of the 18 large and mid-sized states (with population of over one crore each), followed by Kerala, Tamil Nadu, Punjab and Haryana.

Indian Railways launches 3 online applications for all-India rollout to strengthen IT enablement

• Indian Railways has launched three applications for all-India roll out to strengthen its IT-enabled services which will help ensure proper monitoring of projects being undertaken by Railways.
• The applications, namely CRS Sanction Management System, Rail-road crossing GAD approval system and TMS for construction aim at beefing up IT-enabled services.
• The CRS Sanction Management System is an important aspect in construction, maintenance and up-gradation of railway assets, whereas Rail-road crossing GAD approval system will expedite preparation, processing and approval of general agreement drawings related to the construction of Road Over Bridges and Road Under Bridges.
• Application TMS for construction has been developed for new assets being constructed by the construction organization.

BANKING

Exim Bank gives $30 million line of credit to Ghana

• The Export-Import (Exim) Bank has provided a $30 million line of credit to Ghana for potable water project in the country.
• Exim Bank has entered into an agreement with Ghana for a line of credit (LoC) of $30 million (about Rs 210 crore) for financing rehabilitation and up-gradation of potable water system in Yendi, Ghana, the Reserve Bank of India (RBI) said in a release on November 7.
• Under the arrangement, financing of export of eligible goods, works and services from India would be allowed subject to their being eligible for export under the Foreign Trade Policy of India and whose purchase may be agreed to be financed by the Exim Bank.

Indian Bank, Muthoot Microfin sign MoU

• Public sector Indian Bank has signed a memorandum of understanding with Muthoot Microfinance to serve micro, small and medium enterprises.
• Under the memorandum of understanding, the bank and the non-banking finance company will jointly lend to the MSME borrowers.
• Indian Bank general manager-MSME Sudhakar Rao exchanged documents with Muthoot Microfin deputy CFO Praveen T in the presence of the bank's managing director and CEO Padmaja Chunduru recently.

ECONOMIC AND FINANCE

Moody's cuts India's credit outlook to negative; govt not convinced

• On the day marking the third anniversary of demonetisation, global ratings agency Moody’s cut its outlook for India’s credit ratings to “negative” from “stable”, citing the ongoing economic slowdown, financial stress among rural households, weak job creation, and the liquidity crunch in non-banking financial companies.

Kumar Mangalam Birla conferred ABLF Global Asian award

• Kumar Mangalam Birla, chairman of the Aditya Birla Group was conferred the ABLF Global Asian Award, for “powerful individual whose business footprint and commitment to excellence have engaged international interest and attention.
• The Asia Business Leadership Forum (ABLF) is backed by the UAE government, and currently runs in three forms- talks, awards, and publications.

OBITUARY

Nabaneeta Dev Sen, Sahitya Academy winning writer, passes away

• Nabaneeta Dev Sen, Sahitya Academy Award winner and a noted writer, passed away on November 7, 2019. She was 81. She had been battling with cancer for a long time.

SPORTS

India to host 2023 FIH Men's World Cup, Spain, Netherlands to co-host 2022 Hockey Women's World Cup

• The Executive Board of the International Hockey Federation announced that India would be hosting the Men's Hockey World Cup in 2023.
• Spain and Netherlands have been confirmed as the co-hosts for the 2022 FIH Hockey Women's World Cup.
• The Men's Hockey World Cup would be played from January 13-29, 2023 while the Women's World Cup would be played from July 1-17, 2022.
• The venues for the tournaments will be announced by the host nations.