RBI cancels licence of Rajasthan’s Alwar Urban Co-operative Bank

  • The Reserve Bank of India (RBI) has cancelled the licence of Alwar Urban Co-operative Bank Ltd., located in Alwar, Rajasthan.
  • The Registrar of Co-operative Societies, Rajasthan will issue an order for winding up the bank and appoint a liquidator.
  • One of the main reasons for cancelling the bank’s licence was that the bank does not have adequate capital and earning prospects.
  • The RBI said that the bank is not in a position to pay its present and future depositors in full.
  • The present financial position of the bank leaves no scope for its revival, said the RBI.
  • Upon liquidation, everyone who has money in the bank is entitled to repayment of that money, up to a monetary ceiling of one lakh rupees.

Ministry of Housing launches India Smart Cities Fellowship (ISCF) and Internship (ISCI) Programmes

  • The Ministry of Housing and Urban Poverty Alleviation (MoHUA) has launched two programmes to give youth the chance to work In the domain of urban planning and governance.
  • The programmes are the India Smart Cities Fellowship (ISCF) and the India Smart Cities Internship (ISCI).
  • The ministry also launched the Smart Cities Digital Payments Awards (SCDPA) 2018, which is part of the initiatives of MoHUA to promote ease of living for India’s urban residents.

Asian Development Bank approves $503m for Bihar Son canal project

  • Asian Development Bank (ADB) has approved a $503 million project for the lining of the Son canal in the Shahabad-Bhojpur region of Bihar.
  • The project is expected to immensely benefit the agriculture sector in the region.
  • Out of the estimated $503 million cost of the project ADB is providing $352 million.

PM Modi launches world’s largest Samsung mobile phone plant in Noida

  • Indian PM Narendra Modi and South Korean President Moon Jae-in launched the world’s largest Samsung mobile phone manufacturing plant in Noida.
  • The facility has a capacity of producing 1.2 crore phones a year.
  • It is expected to give a massive boost to the Make in India and digital India initiatives.

Gujarat’s Jewish community gets religious minority status

  • The Gujarat government has granted religious minority status to the Jewish community in the state.
  • This was issued by the Gujarat’s Department of Social Justice and Empowerment.
  • Gujarat has a small Jewish community of no more than 170 members, and a majority of them are located in Ahmedabad.

China, India clinch deal to reduce tariffs on Indian medicines, anti-cancer drugs

  • China has said it has come to an agreement with India on the reduction of import duties on Indian medicines including anti-cancer drugs.
  • These medicines are very expensive in China.
  • Beijing had earlier announced a cut on import duties on more than 8,500 Indian items. Now it will reduce taxes on more goods from India.
  • This comes in the wake of a tariff war between the USA and China in which the two countries slapped huge tariffs on each other.

Sreejesh to lead Indian hockey team at Asian Games 2018

  • Indian goalkeeper PR Sreejesh will lead the Indian men’s hockey team at the 18th Asian Games 2018.
  • Vice captaincy has been handed to Chinglensana Singh Kangujam.
  • The Indian squad is boosted by forward Akashdeep Singh, who returns from injury in time for the tournament, as well as experienced drag-flicker Rupinder Pal Singh.
  • The Asian Games will take place in Jakarta and Palembang, and begin from August 18th.

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