RBI eases norms for Foreign Portfolio Investors to invest in debt
The Reserve Bank of India (RBI) on June 15, 2018 eased the norms for Foreign Portfolio Investors (FPIs) to invest in debt, particularly into individual large businesses.
FPIs will now be permitted to invest in Government securities (G-secs) without any minimum residual maturity requirement, only on condition that short-term investments by an FPI shall not exceed 20 percent of the total investment. Residual maturity is the remaining time left until the expiration or the repayment of the debt instrument.
Union Government collaborates with Google for flood forecasting
The Central Water Commission (CWC), India’s apex technical organisation in the field of Water Resources, on June 18, 2018 signed a Collaboration Agreement with Google for flood forecasting.
CWC would use up to date technology of Google in the field of Artificial Intelligence, machine learning and geo spatial mapping for effective management of water resources particularly in the field of flood forecasting. Google will use high resolution Digital Elevation Model and vast computational resources and Artificial Intelligence to generate flood inundation maps utilising the input provided by CWC.
Indian Army observes 2018 as ‘Year of Disabled Soldiers in Line of Duty’
The Indian Army is observing the year 2018 as the ‘Year of Disabled Soldiers in Line of Duty’ to honour soldiers who have been disabled in the line of duty while serving the nation and to celebrate the undying spirit of ‘Soldiering’.
The main aim of the observance is to alleviate the sufferings of the soldiers, who have done their duty with utmost dedication to the nation and have been disabled for life. For the same, the observance aims to provide one-time financial assistance to disabled soldiers, who have been put out service on medical grounds and are rendered non-employable due to their medical or physical conditions.
US President Donald Trump orders US Military to form ‘Space Force’
US President Donald Trump on June 18, 2018 ordered the US Defense Department and the Pentagon to create a "Space Force", an independent sixth branch of the armed forces.
The Space Force military branch would be "separate but equal" to the Air Force. Joseph F. Dunford Jr., Chairman of the Joint Chiefs of Staff, would oversee the creation of the force. The president also reasserted plans to land astronauts on the moon again and do another human lunar landing within 10 years; and eventually on Mars.
International Day for the Elimination of Sexual Violence in Conflict observed
The third annual International Day for the Elimination of Sexual Violence in Conflict was observed across the world on June 19, 2018 with the theme “The Plight and Rights of Children Born of War”.
The day aims to foster solidarity with the survivors who endure multiple, intersecting stigmas in the wake of sexual violence, including the stigma of association with a terrorist group and of bearing children conceived through rape by the enemy.