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Five banks of BRICS nations sign agreement to establish credit lines
Five banks of the BRICS (Brazil, Russia, India, China and South Africa) Bank Cooperation Mechanism have agreed to establish credit lines in the national currencies and cooperate on credit ratings.
The agreement was signed ahead of the ninth edition of the BRICS Summit, which is underway in Xiamen, China. The 2017 summit, attended by leaders of the five countries including Indian Prime Minister Narendra Modi, is centred on the theme of 'Stronger Partnership for a Brighter Future'.
www.exampundit.in The summit will conclude on 5 September.
Five banks including Brazilian Development Bank (BNDES), Vnesheconombank, Export-Import Bank of India, China Development Bank and Development Bank of South Africa (DBSA) signed the agreement to establish credit lines in the national currencies.
The banks also signed a memorandum of cooperation on credit ratings.
The agreement on credit ratings reportedly enables the banks to share information about internal credit ratings and rating assessment.


President Ram Nath Kovind laid foundation stone for Link-4 of SAUNI Scheme
President Ramnath Kovind laid the foundation stone for link - 4 of Saurashtra Narmada Avataran Irrigation (SAUNI) Scheme in Rajkot district on 4 September 2017.
The project had been launched by Prime Minister Narendra Modi during his tenure as Gujarat Chief Minister.
The project aims to fill up 115 major dams by diverting excess water of Sardar Sarovar dam across river Narmada, by a web of pipeline network.


Swedish defence giant collaborates with Adani group for defence manufacturing
Swedish defence giant Saab and Indian conglomerate Adani group announced a collaboration in defence manufacturing on 1 September 2017.

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The collaboration, involving billions of dollars of investment, mainly eyes a contract for single- engine fighter jets for

the Indian Air Force.

The project would include design, development and production of Gripen jets for India, keeping in line with the Make in India initiative.
It would also include sharing of technologies of national importance with India.
The Union government is set to procure a fleet of single-engine fighters for the Indian Air Force.
The US defence firm Lockheed Martin is slated to be a major competitor for Saab for the deal.


BRICS Summit adopts documents on cooperation in areas of Economy and Trade, Innovation and Customs
BRICS (Brazil, Russia, India, China and South Africa) nations on 4 September 2017 signed four documents that aim at improving and broadening cooperation mechanism and promoting industrial and technical upgradation to enhance economic complementarities.
The documents were signed with the hope to give a boost to trade ties between the five nations of the group.

Documents signed in the presence of BRICS Leaders during BRICS Summit - 2017 in Xiamen, China includes

1. 2. 3. 4.

BRICS Action Agenda on Economic and Trade Cooperation BRICS Action Plan for Innovation Cooperation(2017-2020)

Strategic Framework of BRICS Customs Cooperation

Memorandum of Understanding between the BRICS Business Council and the New Development Bank on

Strategic Cooperation

These documents were signed during the summit on Action Agenda on Economic and Trade Cooperation, Innovation, Customs Cooperation and MOU with Development Bank on Strategic Cooperation.

CIPAM-DIPP launches social media campaign to promote Geographical Indications

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The Cell for IPR Promotions and Management (CIPAM) on 4 September 2017 launched a social media campaign to promote Indian Geographical Indications (GIs).
The CIPAM comes under the aegis of the Department of Industrial Policy and Promotion (DIPP), Union Ministry of Commerce and Industry.
The campaign will be promoted with #LetsTalkIP which is an ongoing movement initiated by CIPAM to make more people aware about the importance of Intellectual Property Rights.
The promotion of GIs is in line with the Government's 'Make in India' campaign.
A Geographical Indication is a sign used on products that have a specific geographical origin and possess qualities or a reputation that are due to that origin.


Country's first Hyperloop in AP: Amaravati to Vijayawada in 5 minutes
The Los Angeles-based Hyperloop Transportation Technologies (HTT) has signed a Memorandum of Understanding (MoU) with the Andhra Pradesh government to develop a ' superfast' short-distance transport facility between Vijayawada and the state's upcoming capital, Amaravati.
The project will employ HTT's patented technology to bring down travel time to less than 5 minutes.
During the initial phase of the project, HTT will conduct a six-month long feasibility study from October. The firm will subsequently introduce its Hyperloop Transportation System for the first time in India as the project enters Phase 2.

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According to the state government, the project would take off from Amravati.


RBI releases 2017 list of Domestic Systemically Important Banks
Reserve Bank of India (RBI) has released its 2017 list of the Domestic Systemically Important Banks (D-SIBs). The list identifies private sector lender HDFC Bank Ltd as a D-SIB. With this inclusion in the list, the HDFC has joined State Bank of India (SBI) and ICICI Bank Ltd, which has been tagged as D-SIBs or too-big-to-fail for the consecutive third year.
Reports say that with such classification failure or collapse of these lenders can have a cascading impact on the entire financial system and the economy of the country. SIBs are subjected to higher levels of supervision so as to prevent disruption of financial services in the event of any failure.
In a statement, RBI has said, "The additional Common Equity Tier 1 (CET1) requirement for D-SIBs has already been phased-in from 1 April 2016, and will become fully effective from April 1, 2019. The additional CET1 requirement will

be in addition to the capital conservation buffer."

Assam Government sets up Direct Benefit Transfer cell for implementation of DBT scheme
The state government of Assam has set up a Direct Benefit Transfer (DBT) Cell for the implementation of DBT across schemes in the country.
The purpose of setting up the cell is also to coordinate efforts at the state level in taking the DBT initiative forward with immediate effect.

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While the Chairman of the cell will be the Chief Secretary of Assam, its convenor would be Additional Chief Secretary/ Principal Secretary of the state's finance department.


India, Myanmar sign 11 Agreements
India and Myanmar on 6 September 2017 signed eleven agreements following delegation-level talks headed by Indian Prime Minister Narendra Modi and Myanmar State Counsellor Aung San Suu Kyi at Nay Pyi Taw, Myanmar.
These 11 agreements were signed in a range of sectors including one on maritime security cooperation to further strengthen their multifaceted partnership.
Highlights of the 11 Agreements
1. A Memorandum of Understanding (MoU) was signed between the Election Commission of India and Union

Election of Myanmar.

2. An MoU was signed on cooperation between Myanmar Press Council and the Press Council of India.

3. Both the sides signed an agreement for cultural exchange programme for the years 2017 to 2020.

4. Two MoUs were signed on establishment of the India-Myanmar Centre for Enhancement of IT Skill and the

Myanmar Institute of Information Technology (MIIT).

5. Two other MoUs were signed on medical products regulation and in the field of health and medicine.

6. Another MoU was signed on enhancing cooperation for upgrade of the Women's Police Training Centre at

Yamethin, Myanmar.

7. The two sides also signed an agreement for sharing white shipping information to improve data sharing on

non-classified merchant navy ships or cargo ships.

8. An MoU on Maritime Security Cooperation was also signed.

9. A Technical Agreement was signed between both the sides for providing Coastal Surveillance System.


Vistara, Japan Airlines sign MoU for commercial cooperation

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Vistara and Japan Airlines announced that they have signed a Memorandum of Understanding (MoU) for an extensive

partnership that includes code share flights and frequent flyer partnership.

"This mutual understanding between Japan Airlines and Vistara will help the two airlines pursue significant cooperation in the near future, such as codeshare, frequent flyer partnership as well as other operational arrangements, allowing them to leverage each other's network, expertise and assets, subject to necessary approvals

from authorities," the airlines said in a release .

BSNL signs MOU with Coriant to accelerate 5G growth in India
State-owned telecom operator Bharat Sanchar Nigam Limited (BSNL) entered into an agreement with Coriant to chart a path for 5G and IoT in India. The Memorandum of Understanding was signed between BSNL and Coriant for laying the foundation for innovation in Network Architectures and Services Leveraging 5G, IoT, SDN/NFV, and Mobile Edge Computing Technologies.
Under the terms of the MoU, Coriant and BSNL will cooperate to accelerate network architecture and service

innovation leveraging 5G, Internet of Things (IoT), SDN/NFV, and Mobile Edge Computing (MEC) technologies.

Google signs MoU for digital Gujarat
Gujarat government has signed an MoU with Google India towards actualizing the 'Digital Gujarat' movement under 'Digital India'.
The MoU was signed in presence of the chief minister, Gujarat's chief secretary J N Singh, and Google India Public Policy Director Chetan Krishnaswamy. Principal secretaries of tourism, science and technology, labour and employment, higher education and rural development departments were also present at the event.
Under the MoU Google will train small and medium scale entrepreneurs the use of digital platform for business development under the 'Digital Unlocked' programme,and will provide 'cloud' facility up to $20,000 to recognized startups.

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NITI Aayog constitutes Expert Task Force on Employment & Exports
With an aim to create new jobs by enhancing India's export, the NITI Aayog on 5 September 2017 constituted an Expert Task Force. The task force will be chaired by the NITI Aayog Vice Chairman, Dr. Rajiv Kumar.
The task force that also includes Secretary Department of Commerce; Secretary, Department of Industrial Policy and Promotion among others have been asked to submit its report by November 2017.
The steps outlined by the task force to address this challenge of creating well-paid, formal sector jobs, include:
1. Proposing a comprehensive plan of action to generate employment and alleviate under-employment in both

goods and services sectors and low wages by boosting India's exports in key labour-intensive industries

2. Recommending sector-specific policy interventions in key employment sectors

3. Recommending measures to enhance trade in services with high employment potential

4. Identifying key macro economic factors constraining exports and suggesting methods to address these

constraints

5. Assessing the effectiveness of existing schemes to promote exports

6. Addressing issues related to logistics, export credits and trade facilitation

RBI uses Currency Verification & Processing Machine for processing currency notes

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The Reserve Bank of India (RBI) on 10 September 2017 stated that it uses sophisticated Currency Verification &

Processing (CVPS) Machines for checking numerical accuracy and genuineness of the currency notes including Specified Bank Notes of Rs 500 and Rs 1000 instead of counting machines.

As per RBI, the Currency Verification & Processing (CVPS) machines are way superior to the note counting machines.
With a view to augment the processing capacity, RBI uses these machines in two shifts and has also been using other machines that are temporarily drawn from commercial banks after suitable modifications.
RBI is also exploring other options to augment processing capacity even further.


Bharat Petroleum Corporation to get Maharatna status
The Bharat Petroleum Corporation (BPCL) is all set to become a Maharatna company. The company is currently a Navratna firm.
The decision to grant Maharatna status to BPCL was taken by a panel headed by the Cabinet secretary.
The Maharatna and Navaratna state-owned units operate in strategic fields such as petroleum, power supply, coal, heavy engineering, transportation services and telecommunications.
As per the government rules, a firm is eligible for Maharatna status if it is already a listed Navratna firm, has an average turnover at least Rs 25000 crore, net worth of Rs 15000 crore and an annual net profit after tax of Rs 5000 crore in the last three years. In addition, the fim should have significant global operations.
At present, there are seven Maharatna companies. They are Bharat Heavy Electricals, Coal India, GAIL (India), Indian Oil Corporation, NTPC, Oil and Natural Gas Corporation and Steel Authority of India.


Assam government to provide skill training to 30000 surrendered militants
The Assam government would be providing skill development training to around 30,000 surrendered militants.
www.exampundit.in The information was shared by the Mission Director of Assam Skill Development, A P Tiwari who said that the training will also be extended to jail inmates.
Along with providing training to the surrendered militants, the Assam government would be training over 24000 Assamese youth under the Prime Minister Kaushal Vikash Yojna.
The Assam Skill Development Mission would be providing skill training in 40 sectors.
The training sessions would be starting by the end of September 2017.
The training centres would be set up at the Block level.


Government sets up online facility for effective resolution of foreign trade-related issues
The Union government has set up an online service facility, Contact@DGFT, which can be used by importers and exporters to resolve all foreign trade-related issues.
The information was shared through an official statement issued on 8 September 2017. According to the statement, the directorate general of foreign trade (DGFT), which comes under Ministry of Commerce, has asked all exporters and importers to use the system for resolution of all their matters.
The facility, which has been activated on the DGFT website, will enable traders to raise all matters related to the Directorate or other agencies of the Centre and States.

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The DGFT in a notice to all regional authorities, export promotion councils, commodity boards and members of trade

and industry confirmed the activation of the facility and said that best efforts will be made for expeditious resolution.

ICAR to undertake major research works on agriculture with World Bank fund
The Indian Council for Agricultural Research (ICAR) has decided to undertake major research works on agriculture with the World Bank fund of Rs 1100 crore. The research work will be done in 2017.
The information on the research works to be undertaken by ICAR was given by Deputy Director General of the national apex agricultural research body Narendra Singh Rathore.
Rathore informed this in the convocation function at the Tamil Nadu Veterinary and Animal Sciences University in Chennai on 7 September 2017.


India, Belarus sign 10 pacts to expand cooperation
India and Belarus on 12 September 2017 signed 10 Memorandums of Understanding to expand cooperation in a range of areas including oil and gas, youth affairs and sports, skill development and entrepreneurship, scientific and technical cooperation, agricultural research and education and culture.
The pacts were signed following delegation level talks between Indian Prime Minister Narendra Modi and visiting Belarus President Aleksander Grigoryevich Lukashenko in New Delhi.
Following is the list of 10 MoUs signed by the two nations:
1. Memorandum of Understanding between the Ministry of Youth Affairs and Sports of the Republic of India and

the Ministry of Education of the Republic of Belarus.

2. Memorandum of Understanding between the Ministry of Skill Development and Entrepreneurship of the

Government of the Republic of India and the Ministry of Education of the Government of the Republic of Belarus for Cooperation in the Field of Vocational Education and Training.

www.exampundit.in 3. Agreement on Scientific and Technical Cooperation between Indian National Science Academy (INSA) and the

National Academy of Sciences of Belarus.

4. MoU between Indian Council of Agricultural Research, New Delhi, India and Belarusian State Agricultural

Academy, Gorki, Belarus for Cooperation in Agricultural Research and Education.

5. Protocol amending the Agreement between the Ministry of Agriculture & Farmer's Welfare of the Republic of

India and the Ministry of Agriculture and Food of the Republic of Belarus signed on 16 April 2007.

6. Programme of cooperation between the Government of Republic of India and the Government of Republic of

Belarus in the field of culture for 2018-2020.

7. MoU between M/o Petroleum & Natural Gas of the Republic of India and Belarusian State Concern of Oil and

Chemistry in the Oil and Gas Sector.

8. Memorandum of Understanding between JSV "Belzarubezhstroy" and National Buildings Construction

Corporation Ltd.

9. Memorandum of Understanding between JSC Belarusian Potash Company (BPC) and Indian Potash Ltd (IPL). 10. Agreement on the implementation of MoU signed between OJSC Minsk Tractor Works and Kirloskar Oil

Engines Ltd. India in Pune.

India, Afghanistan exchange four pacts in areas including health, transport
India and Afghanistan on 11 September 2017 exchanged four pacts in areas of health, transport, space and new development partnership. The agreements were exchanged after delegation level talks between the External Affairs Minister Sushma Swaraj and Foreign Minister of Afghanistan Salahuddin Rabbani in New Delhi.

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Afghan Foreign Minister Salahuddin Rabbani was on a three-day visit to India. He was here to attend the 2nd meeting

of the Strategic Partnership Council between India and Afghanistan.

The bilateral documents which were signed and exchanged include
(a) Motor Vehicles Agreement for the Regulation of Passenger, Personal and Cargo Vehicular Traffic.

(b) Memorandum of Understanding for mutual cooperation in the field of pharmaceutical products

regulation. This MoU was signed and exchanged between the National Medicine and Healthcare Products Regulatory Authority of Afghanistan and the Central Drugs Standard Control Organisation (CDSCO), Directorate General of Health Services, Ministry of Health and Family Welfare.

(c) The Orbit Frequency Coordination Agreement between India and Afghanistan on South Asia Satellite (SAS). (d) Letters establishing the New Development Partnership and launching 116 High Impact Community

Development Projects.
In addition, the two nations agreed to expeditiously conclude the agreements/MoUs related to technical cooperation on police training and development, as well as technical cooperation between railway authorities; mutual legal assistance; and cooperation in the areas of food safety among others.


Union Government reconstitutes six Committees of Cabinet
The Union Government on 11 September 2017 reconstituted six Committees of the Cabinet after recent ministry reshuffle.
Defence Minister Nirmala Sitharaman and railway minister Piyush Goyal have been included in the Cabinet Committee on Political Affairs (CCPA), reaffirming their elevation in the Union Cabinet.
Sitharaman and Goyal, along with petroleum minister Dharmendra Pradhan, have also been included as permanent members of the Cabinet Committee on Economic Affairs (CCEA).
There are six Cabinet Committees:
1. Appointments Committee of the Cabinet: The Committee is chaired by the Prime Minister of India. It decides

all higher level appointments in the Cabinet Secretariat, Public enterprises, Banks and Financial Institutions.

www.exampundit.in 2. Cabinet Committee on Accommodation: The Committee is chaired by the Home Minister of India. It is

responsible for the allotment of accommodation for various top positions in the Government of India.

3. Cabinet Committee on Economic Affairs: The Committee is chaired by the Prime Minister of India. It directs

and coordinates the governmental activities in the economic sphere.

4. Cabinet Committee on Parliamentary Affairs: The Committee is chaired by the Home Minister of India. It looks

after the progress of government business in the Parliament.

5. Cabinet Committee on Political Affairs: The Committee is chaired by the Prime Minister of India. It deals with

all policy matters pertaining to domestic and foreign affairs. Of all the Cabinet Committees, it is the most powerful committee. It is often described as a "Super-Cabinet".

6. Cabinet Committee on Security: The Committee is chaired by the Prime Minister of India. It looks into the

matters of defence expenditures and National Security.

FSSAI launches online platform FoSCoRIS for food inspection
Food Safety and Standards Authority of India (FSSAI) on 11 September 2017 launched 'FoSCoRIS', an online platform to bring in transparency in food safety inspection and sampling.
FoSCoRIS platform will help eliminate discrepancy and will make food safety officers accountable for their inspection.
FoSCoRIS system will help in verifying compliance of food safety and hygiene standards by food businesses as per the government norms.

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It will bring together all key stakeholders including food businesses, food safety officers, designated officers, state food

safety commissioners.

It will help in sharing data related to inspection, sampling and test result by all officials seamlessly.
It will ease the process of sample collection by making it transparent and traceable and by controlling the quality of compliances.
For using this platform, Food Safety Officers (FSOs) require a hand-held device with internet connectivity.


Commerce Ministry organised state startup conference to help budding entrepreneurs
The Department of Industrial Policy and Promotion, Government of India organised the second State Startup Conference on 12 September 2017 in New Delhi.
Inaugurated by the Minister of State, C.R. Choudhary, the event saw in attendance several senior dignitaries from states, Union Territories, incubators, accelerators, funding agencies, VCs, angel investors and startups.
The conference was held mainly to deliberate on issues including incubation facilities and making regulations easier for budding entrepreneurs.