CSIR and DoT enter into MoU for establishing a nationwide Time Stamping & Time Synchronization network

  • The CISR and DoT have signed a Memorandum of Understanding (MoU) to set up a nationwide time stamping and time synchronization network.
  • In short, this is to synchronize the telecom network in the country with an IST time stamp. It will enable security agencies in the country overcome the difficulty in analyzing and correlating cyber events, especially when it comes to cyber crime and digital transactions.
  • The project also aims to improve telecom network efficiency by reducing packet loss which occurs when digital networks are not well synchronized.
  • CISR stands for Council of Scientific and Industrial Research, and DoT is for Department of Telecommunications, at the Ministry of Communications.

Indian Government and World Bank sign legal agreements on National Biopharma Mission

  • The Indian Government and World Bank have signed agreements for the National Biopharma Mission which is aimed at improving public health.
  • The National Biopharma Mission aims to make India an important player in the design and development of innovative and affordable bio-pharmaceutical products. The products include vaccines and medical devices for combating public health concerns.
  • The project is expected to cost $250 million for five years, with 50%  funding coming through a World Bank loan.

Memorandum of Agreement (MoA) signed between India and World Health Organization (WHO) to improve public health

  • India has signed a Memorandum of Agreement (MoA) with the World Health Organization (WHO) to improve public health in the country.
  • The bilateral MoA will also encourage cooperation between India and WHO.
  • The MoU was signed on March 13th, 2018 at New Delhi.

Cabinet approves MoU between India and African nation relating to the use of medicinal plants

  • The Indian Government gave its approval for an agreement between India and the African island nation of Sao Tome and Principe for medicinal plants.
  • The approval was done ex post facto (which means with retrospective action) at the Union Cabinet meeting chaired by PM Narendra Modi, for the agreement that was signed on March 14th this year.
  • This will enhance bilateral cooperation between the two countries in the areas of Traditional Systems of Medicine.

Cabinet approves declaration of Scheduled Areas in respect of Rajasthan under Fifth Schedule

  • The Union Cabinet has approved the declaration of Scheduled Areas in respect of Rajasthan under Fifth Schedule to the Constitution of India.
  • The Cabinet rescinded the Constitution Order (C.O.) 114 dated 12th February 1981 and put forth of a new Constitution Order, which will ensure that the Scheduled Tribes of Rajasthan get benefits of protective measures.
  • The tribes that will benefit include Scheduled Tribes residing in Banswara, Dungarpur, Pratapgarh, and partial areas of Udaipur, Rajsamand, Chittorgarh, Pali and Sirohi districts of Rajasthan.

HDFC Bank hikes deposit rates, loans could get costlier too

  • HDFC Bank has hiked interest rates on its term deposits under Rs. 1 crore by up to 100 basis points (equivalent to 1 percentage point). One basis point is 0.01 percentage point.
  • The bank has also hiked interest rates on fixed deposits (FDs) under Rs. 1 crore.
  • The bank is offering an interest rate of 7% on deposits between two years-one day and five years, up from the previous rate of 6%.

Supreme Court questions Centre on decision to make Aadhaar-phone linking mandatory

  • The Supreme Court has raised questions of the Centre’s decision to push for linking of mobile number and Aadhaar numbers.
  • The SC said that its February 2017 order did not contain a direction to link Aadhaar number with mobile number.
  • A five-judge Constitution bench headed by Chief Justice Dipak Misra, clarified that the order said that mobile users needed to be verified in the interest of national security.

Assam’s Halmari CTC tea sells for recording-breaking price

  • The Halmari CTC tea from Assam fetched a price of Rs. 700 per kilogramme in a pan-India e-auction from Kolkata.
  • This is the highest price ever for CTC tea in auctions in India or abroad.
  • In tea terminologies, CTC stands for “crush, tear, curl”.
  • The previous highest price, incidentally, is held by the same tea estate. Tea from the Halmari garden had sold in 2016 for Rs. 600 per kg.

Government raises foodgrain production target for 2018-19

  • The Indian Government has set the foodgrain production target for 2018-19 at 283.7 million tonnes.
  • The agriculture ministry has set a target to increase production by 6 million tonnes, over last year’s 277.49 million tonnes.
  • The minimum support price (MSP) for Kharif crops is expected to be fixed at 50% higher than the cost of production, as was announced in the Budget this year.