- Mongolia broke ground for the construction of country’s first oil refinery with the help of a USD 1 billion loan from India.
Home Minister Rajnath Singh attended the groundbreaking ceremony for the construction of the refinery at ‘Stantsiin Hooloi’ and described it as an important milestone in the bilateral ties.
Mongolia Capital- Ulaanbaatar, Currency- Mongolian togrog.
- The world’s largest multilateral naval exercise involving 26 countries including India being conducted in the western Pacific Ocean is named: RIMPAC.
- Government Approves Hike in Minimum Support Price for Kharif Crops
The government has decided to sharply increase the Minimum Support Price (MSP) for Kharif crops, as it responds to concerns about distress in the country’s farm economy despite two years of strong monsoons. The MSP for common variety paddy, the most important Kharif crop, will be raised by Rs 200 over last year’s Rs 1,550 per quintal. That works out a 13%t increase for the financial year ended March 2019 compared to a 5.4% increase in FY18.
- The Union Government has reduced minimum yearly deposit required under popular girl child savings scheme, Sukanya Samriddhi Yojana to Rs 250 from Rs 1,000 earlier. This has been lowered to enable more people to enjoy benefits of this scheme. In this regard, Government has amended Sukanya Samriddhi Account Rules, 2016.
Sukanya Samriddhi Yojana: It was launched as a small savings scheme under Beti Bacho Beti Padhao (BBBP) in January 2015
- RBI Licences Bank of China To Operate In India
The Reserve Bank of India licensed Bank of China to operate in India. This decision comes as part of the commitment made by PM Modi to the Chinese leadership. Bank of China will now have operating offices in India. This will be the second Chinese bank to be operating in the country.As on 1 January, 2018 Industrial & Commercial Bank of China Ltd was operating in India along with 45 other foreign banks. The United Kingdom’s Standard Chartered has the highest, 100 branches in India as of now. Bank of China (BOC) headquarters in Beijing. BOC was formally established in February 1912. Chen Siqing is the Chairman of BOC.
- Global Innovation Index: Switzerland Tops, India Ranks 57th
The Global Innovation Index (GII) has ranked India as the 57th most innovative nation in the world. The country has improved its ranking from 60th position in 2017. India has been improving steadily since it was ranked 81st in 2015.
- Andhra Pradesh Tops Ease Of Doing Business Rankings
For the second year in a row, Andhra Pradesh has been ranked as the easiest Indian state to do business in, according to a survey. The Chandrababu Naidu-led state took the pole position in the rankings for Ease of Doing Business that was released by the Department of Industrial Policy and Promotion and Ministry of Commerce and Industry in Delhi. Telangana came second followed by Haryana, Jharkhand and Gujarat. The north-eastern state of Meghalaya was ranked lowest at 36th.
- India Becomes 69th Shareholder of European Bank for Reconstruction & Development
India has become the 69th shareholder of the European Bank for Reconstruction and Development (EBRD). This move paved the way for more joint investment with Indian companies across the bank’s regions of operation. The Board of Governors voted unanimously in favour of the country’s application. The EBRD aims to promote the private and entrepreneurial initiative in emerging Europe and invests in 38 emerging economies. European Bank for Reconstruction and Development is a multilateral development bank set up in 1991 after the fall of the Berlin Wall. Suma Chakrabarti is the President of EBRD. It headquarters in London, UK.
- Asia’s 1st Patent Arbitration Centre to Open in Tokyo
Asia’s first arbitration centre specialised in intellectual property is slated to open in Tokyo in September 2018 to resolve the growing number of disputes in the region.
The International Arbitration Centre in Tokyo (IACT) is set to have around a dozen arbitrators from around the world, who would try to resolve disputes within a period of one year.
- Nigeria Replaces India to Become World’s Largest Poor Population: Brookings Report
With the persistent decline in poverty, India is no longer a nation having the largest number of poor people in the world, according to a study published by the US-based think tank, Brookings. According to the study, Nigeria has already overtaken India as the country with the largest number of extreme poor in early 2018, and the Democratic Republic of the Congo could soon take over the number 2 spot.
- 10th BRICS Summit 2018 held In Johannesburg
The 10th edition of BRICS Summit began in Johannesburg, South Africa. It is a 3-day long summit and will be attended by all the BRICS leaders. The theme for this summit is ‘BRICS in Africa: Collaboration for inclusive growth and shared prosperity in the 4th Industrial Revolution’. Modi is likely to meet Chinese President Xi Jinping on the sidelines of the summit.
- 4th BIMSTEC Summit held In Kathmandu
The 4th BIMSTEC Summit will be held in Kathmandu, Nepal. The announcement in this regard was made by Nepal’s Minister for Foreign Affairs Pradeep Kumar Gyawali. The main focus of the summit will be to increase connectivity between the BIMSTEC nations including roads, airways and transmission lines.
- Two plus Two Dialogue between India and US held In New Delhi
US State Department has announced that the inaugural ‘two-plus-two dialogue’ between India and the United States held in New Delhi in September 2018. Recently, the US had postponed the dialogue due to ‘unavoidable reasons’. Secretary of State Mike Pompeo and Defence Secretary James Mattis will travel to India for the dialogue with External Affairs Minister Sushma Swaraj and Defence Minister Nirmala Sitharaman.
- The UN members have unanimously elected Iceland to take a seat on the world body’s 47-member Human Rights Council.
US had left the UNHRC in June, 2018 calling it a cesspool of political bias for its criticism of Israeli regime’s crimes against Palestinians.
- Rahul Dravid, 5th Indian to Be Inducted Into ICC Hall of Fame
Former captains Rahul Dravid of India, Ricky Ponting of Australia and retired England Women wicketkeeper-batter Claire Taylor were inducted into the ICC Cricket Hall of Fame 2018 during a glittering ceremony in Dublin, Ireland.
- Artist Anjolie Ela Menon Conferred Kalidas Award
Noted artist Anjolie Ela Menon had received the National Kalidas Samman in Delhi for visual arts from the Madhya Pradesh government. With her first solo exhibition being held in Delhi in 1958, Menon is counted among India’s most accomplished artists and is the recipient of numerous national and international awards including the Padma Shri.
- Indian recipients of Ramon Magsaysay Award 2018
Dr. Bharat Vatwani: Psychiatrist and founder of Shraddha Rehabilitation Foundation in 1989. He works to unite mentally ill street people with their families. He has united 2000 people with their families so far. Sonam Wangchuk: Ladakhi engineer, innovator and education reformist. Founder of Students Educational and Cultural Movement of Ladakh (SECMOL). He invented the Ice Stupa technique that creates artificial glaciers used for storing winter water in form of conical shaped ice heap.
- The renowned vocalist who has been chosen for the 2018 Sangita Kalanidhi Award by the Music Academy, Madras: Aruna Sairam
- ‘The English Patient’ By Michael Ondaatje Declared ‘Best Booker Prize Winner in 50 Years’
Michael Ondaatje’s bestselling novel ‘The English Patient’ was announced as the winner of the Golden Man Booker Prize at the Southbank Centre in London. The prize was instituted as part of celebrations to mark the Booker’s having completed 50 years.
- National Sports Day: 29 August
The National Sports Day is celebrated on 29th August every year to mark the birthday of legendary hockey player Dhyan Chand.
- Chile’s Michelle Bachelet to Be Next UN Human Rights Chief
The United Nations announced that UN Secretary-General Antonio Guterres has chosen former Chilean President Michelle Bachelet to be the UN’s new human rights chief. Bachelet would be succeeding Jordanian diplomat Zeid Ra’ad al-Hussein. Bachelet’s name will now go forward for consideration and approval by the 193-member UN General Assembly.
- Balesh Sharma Appointed Vodafone Idea’s 1st CEO
Balesh Sharma takes over as Vodafone Idea’s first CEO. He was the Chief Operating Officer of Vodafone India and a member of its executive committee.
- Treasurer Scott Morrison Elected New Prime Minister of Australia
Treasurer Scott Morrison has been elected the new Prime Minister of Australia after winning an internal vote of 45-40 against former Home Affairs Minister Peter Dutton. Morrison will take over the charge as PM from Malcolm Turnbull.
- Fortune 500 List of World’s Largest Companies Released
Seven Indian companies have been listed in Fortune’s 500 list 2018 of world biggest corporations. Indian Oil Corporation (IOC) is the highest ranked company from India followed by RIL. The US-based retail company, Walmart has topped the list. IOC ranked 137th in 2018 with a significant jump from 168th position from 2017. RIL is the top private sector company in India. It ranked 148th in 2018 from 203rd from 2017. ONGC ranked 197th in 2018 which not even featured in 2017. SBI got 216th rank 1 place higher than 217th in 2017.
- India’s GDP Growth to rise to 7.5% This Fiscal: Morgan Stanley
- PepsiCo’s Indra Nooyi stepped down As CEO
PepsiCo CEO Indra Nooyi stepped down in October after serving for 12 years as the top boss at the global beverage giant, PepsiCo. Indian-origin Indra Nooyi was the first ever woman to be appointed the CEO at PepsiCo, in the year 2006. She is succeeded by company President Ramon Laguarta, who has held the post since 2017. She will remain chairman till 2019.
- PNB Gets Top Rank in Digital Transaction
Punjab National Bank (PNB) has announced that the Department of Financial Services report has rated it as number one state-owned bank in terms of digital transactions. The bank is also rated as the sixth overall amongst all banks in India for digital performance. The bank is rated as ‘Good’ by the government with a score of 71 which is the highest category of performance.
- Smitha V. Crishna Tops List of India’s Wealthiest Women
Smitha V. Crishna, a third-generation heir of the Godrej family, ranks first in the Kotak Wealth Hurun-Leading Wealthy Women 2018 list with an estimated wealth of Rs37,570 crore. Ms. Smitha owns one-fifth of the Godrej Group. Roshni Nadar, CEO and executive director at HCL, ranks second in the list with an estimated wealth of Rs30,200 crore. She also heads the Shiv Nadar Foundation. The chairperson of the Times Group, Indu Jain, ranks third in the list. Her wealth is estimated at Rs26, 240 crore.
- Ambani’s Reliance Jio tops Fortune’s ‘Change the World’ list
Mukesh Ambani-led telecom company Reliance Jio secured the top spot in Fortune’s global ‘Change the World’ list released on August 20. American Pharma company Merck ranked second while Bank of America ranked third on the list. Chinese group Alibaba is ranked 5th on the list.
- Japan Pips China to Become World’s 2nd Largest Stock Market
Japan has pipped China as the world’s number two stock market, according to a Bloomberg report. At one of the time, the Chinese market was worth $6.09 trillion next to Japan’s $6.17 trillion. Both markets are ranked after the US which is the world’s largest at just over $31 trillion. China lost to Japan after Chinese stocks and currency fell this year amid a trade spat with the US.
- G20 Digital Economy Ministerial Meeting Held in Argentina
The theme of the meeting was ‘Building consensus for fair and sustainable development’. Its three key issues for the agenda were future of work, infrastructure for development, and sustainable food future. The G20 comprises of total 19 countries plus European Union (EU), representing 85% of global GDP, 80% of international trade, 65% of the world’s population.
- Forbes Released List of Highest Paid Female Athletes: Serena Williams Tops, PV Sindhu Ranks 7th
- M. Karunanidhi passed away: Served as Chief Minister of Tamil Nadu for 5 times.
Popularly referred to as Kalaignar meaning artist in Tamil. He worked as a screenwriter for films, his first film being Rajakumaari. His Party Name: Dravida Munnetra Kazhagam (DMK)
- Kofi Annan demise– 7th UN Secretary General from 1997 to 2006 Nationality: Ghana, Awarded Nobel Peace Prize in 2001 along with UNO.
- Atal Bihari Vajpayee passed away.
- Prime Minister of India from: 16.05.96 to 01.06.96; 19.03.98 to 10.10.99; 10.10.99 to 22.05.2004
- Minister of External Affairs: 26.03.1977 to 28.07.1979
- Birth Place: Gwalior
- AWARDS: Bharat Ratna: 2015; Padma Vibhushan: 1992; Outstanding Parliamentarian Award: 1994; Bangladesh Liberation War Honour: 2015
- Events during his tenure as the PM of India: 2nd Nuclear Test named Smiling Buddha carried out by India at Pokhran in May 1998
- Ajit Wadekar passed away -First Captain of India’s ODI Cricket team
- Somnath Chatterjee demise- Speaker of the Lok Sabha from: 2004 to 2009
- VS Naipaul demise
- Born in Trinidad and Tobago
- Nationality: British
- Booker Prize: 1971 for “In a Free State”
- Nobel Prize: 2001
- Notable works: A House for Mr Biswas; A Flag on the Island;In a Free State; A Bend in the River; An Area of Darkness; India: A Wounded Civilization India: A Million Mutinies Now
- GDP Growth Soars to 8.2% in 1st Quarter Of Current Fisca
Indian economy grew by 8.2% in the first quarter (April-June) of the current fiscal, the highest in over two years. Explanation:- o A financial year starts from 1st April and ends on 31st March. o There are 4 quarters in a financial year. 1st quarter is April-June. o GDP (Gross Domestic Product) is a monetary measure of the market value of all the final goods and services produced in a period of time.
- Alastair Cook Announces International Retirement
England’s highest Test run-scorer Alastair Cook announced his retirement from International cricket after final Test against India. He has scored 12,254 runs and made 32 centuries in 160 Tests all England records.
- Arif Alvi Elected Pakistan’s New President
Pakistan Tehreek-e-Insaf (PTI) candidate Arif-ur-Rehman Alvi was elected as the 13th President of Pakistan.
- National teacher’s day: 5th September
The birth date of the second President of India, Dr. Sarvepalli Radhakrishnan, 5 September 1888, has been celebrated as Teacher’s Day since 1962.
- Indian Boxer Mary Kom Signed as Brand Ambassador by BSNL
State-run telecom firm Bharat Sanchar Nigam Ltd (BSNL) roped in Indian boxer MC Mary Kom as its brand ambassador for two years. BSNL will run television commercials, print advertisements and tariff plan endorsement with Kom.
- India-US 2+2 Dialogue: India-US Sign COMCASA
India and US have signed the Communications Compatibility and Security Agreement (COMCASA) that will facilitate India to obtain critical defence technologies from the US, and access critical communication network to ensure interoperability among the US and the Indian armed forces. After the 2+2 dialogue, External Affairs Minister Sushma Swaraj, Defence Minister Nirmala Sitharaman, US Secretary of State Mike Pompeo and US Defence Secretary James Mattis stated that the two countries are committed to work towards strengthening Indo-US relationship.
- Homosexuality Not a Crime in India Anymore: SC Abolishes Section 377
The Supreme Court abolished Section 377 of the Indian Penal Code (IPC), the 1862 law which criminalised homosexuality
- Luka Modric Wins ‘UEFA Men’s Player of the Year Award’
Real Madrid midfielder Luka Modric has been named UEFA Men’s Player of the Year for 2017/18. Modric beat off competition from former Madrid team-mate Cristiano Ronaldo and Liverpool forward Mohamed Salah, who joined him on the three-man shortlist announced on 20 August.
- Pradhan Mantri Jan Arogya Yojana is launched
- Indu Bhushan appointed as a Chief Executive Officer (CEO).
- Beneficiaries will receive Ayushman Bharat Family Health Cards.
- This centrally sponsored flagship scheme aims to provide an annual health cover of up to Rs. 5 lakh to vulnerable 10 crore families (approximately 50 crore persons – 40% of country’s population) based on Socio Economic and Caste Census database.
- 5 lakh health and wellness centres will be opened across India by 2022 under the scheme. The centres will provide comprehensive health care for diseases like diabetes, cancer, hypertension and cardiovascular diseases.
- Ayushman Bharat consists of two major elements.1. National Health Protection Scheme. 2. Wellness centres. National Health Protection Scheme will provide cashless treatment to patients. And wellness centres will provide primary care to the patients.
- Justice Ranjan Gogoi Appointed Next Chief Justice of India
The President of India has appointed Justice Ranjan Gogoi as the next Chief Justice of India. He will assume the office of Chief Justice on 3rd October, 2018 after the retirement of the current Chief Justice, Justice Dipak Misra. Justice Harilal J. Kania was the first Chief Justice of Independent India.
- The Global Climate Action Summit 2018 was held at San Francisco, California, United States. Over 4000 businesses, cities, states and civil society delegates attended the summit and showed their commitments to achieve the goals set by the Paris Agreement.
- G-20 Trade and Investment Ministerial Meeting Held in Argentina
Commerce and Industry Minister Suresh Prabhu participated in G-20 trade and investment ministerial meeting at Mar del Plata in Argentina. Issues including increasing protectionism challenges to promote global commerce and the new industrial revolution were discussed at the meeting.
- Human Development Index 2017: India ranks 130th in HDI 2017 published by United Nations Development Programme.
India climbed one spot to 130 out of 189 countries in the latest human development rankings released by the United Nations Development Programme (UNDP). India’s HDI value for 2017 is 0.640, which put the country in the medium human development category.
- Time Magazine Acquired by Salesforce Founders for $190 million
- Government announced Mergers of Bank of Baroda, Dena Bank and Vijaya Bank.
- Infosys Acquires Finnish Company ‘Fluido’ For Rs 545 crore
Infosys has acquired Finnish company Fluido, a top consulting partner of Salesforce, for 65 million euros (about Rs. 545 crore). This is Infosys’s second acquisition under CEO Salil Parekh. Recently, it had acquired US digital creative and consumer insight agency WongDoody for $75 million. The Fluido acquisition will make Infosys the largest Salesforce consulting partner in the Nordics.
- Emmy Awards 2018
Emmy awards are US Television awards. Best Comedy: The Marvelous Mrs. Maisel Best Drama: Game of Thrones
- India Ranks 3rd On Family-Owned Business List:
India ranks third globally in terms of number of family-owned businesses with 111 companies having a total market capitalisation of $839 billion. India closely follows China with 159 firms and the US with 121 firms, according to the ‘Credit Suisse Family 1000 in 2018’ study, published by the Credit Suisse Research Institute (CSRI).
- PM Modi Inaugurated Sikkim’s First Airport in Pakyong
Prime Minister Narendra Modi inaugurated the Pakyong Airport in Sikkim on September 24, nine years after the foundation stone was laid. The airport is the hilly state’s first and only airport. Currently, the nearest airport for the people of Sikkim is 124 kilometre (km) away in Bagdogra, West Bengal.
- Croatia’s Luka Modric Won FIFA’s Best Player of the Year Award
Luka Modric broke a decade of award dominance by Cristiano Ronaldo and Lionel Messi after being crowned world footballer of the year by FIFA.
- FDI in Telecom Sector Jumped Five Times in Three Years
FDI in the telecom sector has jumped nearly five times in the last three years – from USD 1.3 Billion in 2015-16 to USD 6.2 Billion in 2017-18.
- Argentina Gets Biggest Loan in IMF’s History At $57 billion
Argentina has received $57.1 billion from the International Monetary Fund (IMF), the biggest loan package ever from the global body aimed at boosting the country’s struggling economy.
- Tesla names Robyn Denholm as chair to replace Elon Musk. Tesla has named an Australian executive as its new chairman after Elon Musk was forced to give up the role. Robyn Denholm, the finance chief of Australian telecoms firm Telstra, takes over from the electric car maker’s founder, who remains chief executive.
- India’s first indigenous nuclear-powered ballistic missile submarine, INS Arihant, has successfully completed its first deterrence patrol. The fully operational submarine completes the sea leg of India’s nuclear triad, giving it enduring nuclear strike and counter strike capabilities. The United States, Russia, the United Kingdom, France and China are the only countries that can deliver nuclear warheads from a submarine.
- Stan Lee, Co-Creator of Spider-Man, Iron Man, Passes Away American comic-book writer and Marvel Comics co-creator Stan Lee passed away aged 95. Born as Stanley Martin Lieber in Manhattan, he is credited with co-creating several fictional characters including Spider-Man, the Hulk, Doctor Strange, the X-Men, Iron Man, and Thor.
- UNICEF Appoints Athlete Hima Das as India’s 1st Ever Youth Ambassador The United Nations Children’s Fund-India (UNICEF) has appointed Asian Games gold-medalist sprinter Hima Das as India’s first ever Youth Ambassador. Recently, Hima clinched a Gold medal in Women’s 4×400 metre relay event at the 2018 Asian Games at Jakarta, Indonesian. She also won Silver in the Women’s 400m Race event with a clock timing of 50.59 seconds. UNICEF headquarters in New York, the USA. Hima Das, nicknamed the ‘Dhing Express’, is an Indian sprint runner from the state of Assam.
- Cyclone ‘Gaja’ Hits Andhra Pradesh and Tamil Nadu The cyclonic storm ‘Gaja’ over the Bay of Bengal lay at about 470 km southeast from Chennai and is set to make landfall between Cuddalore and Pamban bringing heavy rainfall to Tamil Nadu. It will also cover some parts of Pondicherry. Earlier it has hit the South Coastal part of Andhra Pradesh.
- Women’s World Boxing Championships Begins in Delhi The Women’s World Boxing Championships begins in Delhi. This tenth edition of the tournament is set to be the biggest ever as more than 300 boxers from 72 countries are taking part.
- Adobe CEO Shantanu Narayen in Fortune Business Person of the Year list Indian-American Shantanu Narayen, the Chief Executive Officer (CEO) of Adobe, has been named by Fortune in its 2018 Business Person of the Year list. The list ranks 20 business executives “delivering on the bottom line and beyond”.
- Azim Premji Conferred Forbes India Leadership Awards 2018 Azim Premji, chairman of Wipro, has won Forbes India Leadership Awards 2018, Lifetime Achievement. Wipro is India’s fourth-biggest software services company by revenue and Ajim Premji is the second richest Indian. The Forbes India Leadership Awards, India’s most prestigious honour for the top executives, was held in Mumbai.
- Mary Kom Wins Sixth World Championship Title, Creates History MC Mary Kom has created history by becoming the first woman to win six boxing world titles by clinching the 48 kg gold at the 2018 AIBA Women’s World Boxing Championships in New Delhi. The 35-year-old Indian legend got the better of Ukrainian Hanna Okhota in the summit clash.
- Sunil Arora Appointed New Chief Election Commissioner of India Sunil Arora has been appointed as the new Chief Election Commissioner of India. He succeeds Om Prakash Rawat.
Hockey World Cup 2018 Inaugurated in Odisha Odisha is hosting the Hockey World Cup 2018. The opening ceremony of Men’s Hockey World Cup took place at Kalinga Stadium, Bhubaneswar. The opening ceremony, which was almost a three-hour long, conveyed a powerful message of “oneness of humanity”.