Trump-Kim Summit: Historic document signed
In a historic first, delegation level talks between US President Donald Trump and North Korean leader Kim Jong Un began in Singapore on June 12, 2018.
The world’s two of the most powerful leaders held a brief one-on-one meeting at the Capella Hotel in Sentosa Island before beginning with their delegation level talks. Speaking after the one-on-one meet, US president Trump said that both the nations have a terrific relationship ahead and this historic summit would be successful. Kim said “it has not been easy to get here” and that “the old prejudices and practices worked as obstacles, but we have overcome them and we are here today.”
RBI releases draft guidelines to modify loan system for large borrowers
The Reserve Bank of India (RBI) on June 11, 2018 released the draft guidelines to modify the loan system for delivery of bank credit, making the rules stricter to regulate larger borrowers enjoying working capital facility from the banking system.
The draft specifies a minimum level of loan component in fund based working capital finance and a mandatory Credit Conversion Factor (CCF) for the undrawn portion of cash credit availed of by large borrowers. Banks provide working capital finance by way of cash credit, working capital demand loan, purchase/discount of bills, bank guarantee, letter of credit, factoring, etc.
Mauritius to host 11th World Hindi Conference
The 11th World Hindi Conference will be held in Mauritius from August 18 to August 20, 2018 with an aim to increase the popularity of Hindi globally.
The Union External Affairs Ministry has already undertaken the work on the international meet. The World Hindi Secretariat (WHS) will be the organising authority of the event. The conference will cover both classical and modern elements of Hindi and will see participation of delegates and scholars of Hindi from all over the world.
Government to launch Rs 500-crore credit enhancement fund
The Union Government is planning to launch Rs 500-crore worth credit enhancement fund in July to boost infrastructure financing.
The move aims to facilitate infrastructure investments by insurance and pension funds. The fund was first proposed in the financial budget for fiscal year 2016-17. The information was shared by Kumar Vinay Pratap, joint secretary (infrastructure, policy and finance), Ministry of Finance while speaking at an event on private sector participation in resource mobilisation organised by the Finance Ministry.
NITI Aayog announces 3000 additional Atal Tinkering Labs
NITI Aayog on June 12, 2018 announced creation of 3000 additional Atal Tinkering Labs under the Atal Innovation Mission (AIM).
For this purpose, NITI Aayog has selected 3000 additional schools for the establishment of Atal Tinkering Labs (ATLs), bringing the total number of ATL schools to 5441. The selected schools will receive a grant of Rs 20 lakh in the next five years to establish Atal Tinkering Labs for nurturing innovation and entrepreneurial spirit among secondary school children.