DAILY CURRENT AFFAIRS FEBRUARY 24 & 25 2018

1) International Conference on Sustainable Biofuels, 2018 to be held in New Delhi

  • International Conference on Sustainable Biofuels, ICSB 2018 will be held in New Delhi on 26thand 27th February, 2018.
  • his conference is being jointly organised by Mission Innovation – India Unit and Biofuture Platform and will be hosted by Department of Biotechnology under Union Ministry of Science and Technology.
  • Mission Innovation (MI) is a global initiative of 22 countries and the European Union to accelerate global clean energy innovation, while Biofuture Platform is a multi-stakeholder mechanism for policy dialogue and collaboration among leading countries to increase the use of low carbon sources  as the feedstock for the production of energy, chemicals and materials.

2) PM addresses Economic Times Global Business Summit in New Delhi

  • On February 23, 2018, Prime Minister Narendra Modi delivered the keynote address at the 4th Global Business Summit in New Delhi.
  • During the address, PM Modi outlined that Indian government is taking stringent action against financial irregularities and will not accept unlawful acquisition of public money.
  • Global Business Summit, is a flagship initiative of the Times Group. The first edition was held in January 2015.
  • It brings together, visionaries, heads of state, thought leaders, policy makers, academicians and corporate heads for discussing current macroeconomic issues and share their views on the same.

3) PM Modi Launches Amma 2 Wheeler Scheme in Tamil Nadu

  • On February 24, 2018, Prime Minister Narendra Modi Launched ‘Amma’, subsidised 2 Wheeler Scheme for working women in Tamil Nadu.
  • This scheme was launched to mark 70th birth anniversary of Jayalalithaa , the former Chief Minister of Tamil Nadu.
  • Under ‘Amma’ 2 Wheeler Scheme, every year, one lakh working women in Tamil Nadu will be given 50% of the cost of a two- wheeler or a grant of Rs. 25000.
  • PM Modi launched this scheme in presence of Tamil Nadu Chief Minister K Palaniswami. On February 24, 2018, PM Modi also launched a drive to plant 70 lakh tree saplings in Tamil Nadu.

4) 7th edition of the Youth Festival held in New Delhi

  • On 22nd February 2018, the 7th edition of Youth Festival began at Central Park, New Delhi. The 7th edition of Youth Festival is themed: ‘Let Love Live’. This year’s Youth Festival celebrates the freedom to love. It will be conducted till 27th February 2018.
  • The Youth Festival is organised by Sahitya Kala Parishad and the Department of Art, Culture and Languages, Delhi Government. The festival features dance, music and special acts conveying a message of love and harmony.

5) India’s 1st 5G Trial Successful, 3 GB/Sec Speed Achieved

  • Chinese technology giant Huawei and telecom services provider Bharti Airtel announced to have successfully conducted 5G network trial under a test set-up in India. The trial was conducted at Airtel’s Network Experience Centre in Manesar (Gurugram).
  • During the test trial, the speed of more than 3Gbps was achieved. This is the highest measured throughput for a mobile network in 3.5 GHz band with 100MHz bandwidth and end-to-end network latency of approximately 1 msec.

6) RBI asks banks to link SWIFT to core banking by April 30

  • Reserve Bank of India (RBI) has instructed all banks to integrate SWIFT (Society for World Interbank Financial Telecommunication System platform) with its core banking solutions (CBS) by April 30, 2018.’
  • This instruction by RBI is aimed at tightening internal controls in banks in wake of Rs 11400 crore fraud that has been unearthed at Punjab National Bank (PNB). The modus operandi of PNB fraud revolved around the misuse of SWIFT system by two officials of PNB in a Mumbai Branch.

7) Subbarayudu appointed the Ambassador of Bolivia

  • On 23rd February 2018, M. Subbarayudu was appointed the next Ambassador of India to Plurinational State of Bolivia.
  • M. Subbarayudu is an Indian Foreign Service Officer (IFS) of the 1994 batch. He is currently the Ambassador of India to Lima. His residence is in Lima.

8) State Bank of India set for UK restructuring

  • State Bank of India (SBI) will be undertaking a major restructuring of its business in the United Kingdom (UK) from April 2018.From April 1, 2018, SBI’s UK operations will operate as SBI’s subsidiary under the name of State Bank of India UK Limited.
  • This transformation has been planned in order to comply with specific capital requirement norms of Bank of England (the Central Bank of UK).
  • Post transformation, all retail branches of SBI in the UK will function under a new UK-incorporated banking entity. Currently, the status of SBI branches in UK is that of overseas branches of the Indian entity.

9) Parupalli Kashyap Wins Austrian Open

  • Reigning Commonwealth Games champion Parupalli Kashyap overcame Malaysia’s June Wei Cheam in straight games in the men’s singles final to clinch the Austrian Open International Challenge, his first international title in over three years.
  • The Indian looked in good touch throughout the tournament as he didn’t drop a single game en route to his title win.

10) Legendary Bollywood Actress Sridevi Passes Away

  • Veteran Bollywood actress and Padma Shri awardee Sridevi, who had an illustrious career spanning over four decades, passed away. She was 54.
  • Sridevi was died due to cardiac arrest in Dubai. She went on a hiatus for 15 years after starring in home production — “Judaai” — co-starring her brother-in-law Anil Kapoor and Urmila Matondkar. It was director Gauri Shinde’s “English Vinglish” in 2012 that marked Sridevi’s comeback.

11) Award-winning actress Nanette Fabray dies at 97

  • On 22nd February 2018, Nanette Fabray, an award-winning actress, passed away due to natural causes, at her residence in Palos Verdes, California, US.
  •  Nanette Fabray was 97 years old. She started her acting career at the age of three. She has worked in several movies and TV shows. She had won three Emmy awards. She had also received the SAG Life Achievement Award in 1987.
  • She had overcome hearing loss and later became an advocate for the rights of the deaf. She was awarded with the President’s Distinguished Service Award and the Eleanor Roosevelt Humanitarian Award for this.

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