Daily Current Affairs, 14th May 2018

1) High-Level Committee Approves Central Assistance Of Rs1,161 Crores To 4 States And A UT

•The Union Home Minister Shri Rajnath Singh chaired a meeting of the High Level Committee (HLC) in New Delhi for Central Assistance to the States/ UT of Assam (affected by floods during 2017-18), Himachal Pradesh(affected by floods/ landslides during 2017-18), Sikkim (affected by floods/ landslides during 2017-18), Lakshadweep (affected by cyclone Ockhi during 2017) and Rajasthan (affected by Kharif drought during 2017).

•The HLC approved assistance of Rs 480.87 crore in respect of state of Assam. The HLC also approved assistance from NDRF amounting to Rs 84.60 crore for the state of Himachal Pradesh, Rs 67.40 crore for the state of Sikkim, Rs 2.16 crore for the UT of Lakshadweep and Rs 526.14 crore for the state of Rajasthan.The total assistance approved was Rs 1,161.17 crores.

2) UNDP To Set Up Skill Development Centre In Hyderabad

•Aimed at empowering vulnerable and marginalised women by imparting skills training, the United Nations Development Programme (UNDP) has announced to set up a skill development centre at 'Bharosa,' an integrated support centre for distressed women and children in Hyderabad.

•'Bharosa,' an initiative of Hyderabad City Police, is a state-of-the-art centre to support women and children who are victims of violence.

3) Dharmendra Pradhan, UAE Minister Flag Off 1st Consignment Of ADNOC Crude For India

•Union Petroleum and Natural Gas Minister Dharmendra Pradhan and UAE Minister of State & Abu Dhabi National Oil Company (ADNOC) Group CEO Dr. Sultan Al Jaber flagged off the first consignment of 2 million barrels of ADNOC crude for Mangalore Cavern.

•During the day, Mr Pradhan also held the bilateral meeting with H.E. Dr. Jaber. The Petroleum and Natural Gas Minister also had an interactive session with over 250 Indian professionals, business leaders and community representatives working in the UAE. The event was organised by the Embassy of India in Abu Dhabi.

4) India, Largest Remittance-Receiving Country In World

•India has become the largest remittance-receiving country in the world, with migrant workers from the country sending home 69 billion US dollars in 2017. According to the report ‘RemitSCOPE – Remittance markets and opportunities – Asia and the Pacific’, remittances to the Asia-Pacific region amounted to 256 billion dollars in 2017.

•India with 69 billion Dollars, China with 64 billion Dollars and the Philippines with 33 billion Dollars are the three largest remittance-receiving countries in the world in 2017. Worldwide, an estimated 40% of the total value of remittances goes to rural areas. According to the report, cash-to-cash transactions remain by far the most common form of transfer. 

5) Lata Mangeshkar Conferred With Swara Mauli Award

•Melody queen Lata Mangeshkar was honoured with the Swara Mauli title by spiritual guru Vidya Narsimha Bharati Swami. Mangeshkar, 88, was conferred with the award at her residence in Mumbai.

•Her sisters Asha Bhosle and Usha Mangeshkar and brother Hridaynath Mangeshkar were also present.

6) ICBC Launches China's 1st India-Dedicated Investment Fund

•A state-run Chinese bank, Industrial and Commercial Bank of China (ICBC) has launched the country's first India-dedicated publicly offered investment fund, saying the Indian market offers the best opportunity for Chinese investors due to the prospects of double-digit growth.

•The fund, named the ICBC Credit Suisse India Market Fund, will invest in exchange-traded funds listed on more than 20 exchanges in Europe and the US that are based on the Indian market. It is China's first publicly offered fund for investing in India. The fund will invest in the future of the Indian economy and track the distribution of the industrial structure across the Indian market.