1st August 2018 Current Affairs


Reliance beats TCS to become India’s highest-valued company

  • Mukesh Ambani’s Reliance Industries Limited (RIL) has just beaten Tata Consultancy Services (TCS) to become the most valued company in India by market capitalisation.
  • Reliance had a market capitalisation of Rs.7.46 trillion while TCS’s market cap fell to Rs.7.39 trillion.
  • However, earlier this year TCS beat Reliance Industries in the race to a $100 billion market capitalization.

Government imposes 25% safeguard duty on import of solar cells

  • The government has imposed a safeguard duty on solar cell imports from China and Malaysia for two years.
  • The aim is to protect domestic players from steep rise in the inbound shipments in solar panels.
  • It will be set at 25% for the period of July 30, 2018 to July 29, 2019; 20% for the July 30, 2019 to January 29, 2020 period; and 15% for the January 30, 2020 to July 29, 2020 period.
  • There has been a significant increase in imports of solar cells in absolute terms.
  • India has produced 842 MW solar cells in 2017-18.
  • Imports of solar cells has jumped to 9,790 MW in 2017-18 from 1,275 MW in 2014-15.

India Post Payments Bank to start operations in August 2018 with 650 branches

  • India Post Payments Bank will start operations with 650 branches and around 17 crore accounts in August 2018.
  • The RBI has given clearance to the IPPB after testing its entire system.
  • The IPPB is the third entity to receive payments bank permit after Airtel and Paytm.
  • Payments banks can accept deposits up to Rs 1 lakh per account from individuals and small businesses.
  • The India Post Payments Bank will have 3,250 access points co-located at post offices, and around 11,000 gramin dak sevaks (in rural areas) and postmen (in urban areas) who will provide doorstep banking services.

Chhattisgarh CM, Kangana Ranaut launch smartphone distribution scheme

  • Chhattisgarh CM Raman Singh, and actress Kangana Ranaut, launched a smartphone distribution scheme named Mobile Tihar under the Sanchar Kranti Yojna (SKY).
  • The scheme is for distribution of smartphones to women and students and will cover more than 50 Lakh beneficiaries.
  • As part of the scheme, 556 new mobile towers will be installed across the state.

Common Service Centers to implement Ayushman Bharat scheme

  • Common Service Center (CSC) and National Health Accounts (NHA) signed an MoU to implement the Ayushman Bharat scheme through 3 lakh Common Service Centers (CSCs) across the country.
  • Ayushman Bharat is National Health Protection Scheme. It will cover over 10 crore poor vulnerable families, providing coverage of up to 5 lakh rupees (per family per year).
  • According to the MoU, a beneficiary will have to visit an CSC to get check his/her entitlement for the Ayushman Bharat scheme. They will get a printed card from the CSC, which they can use at hospitals to claim the benefits under the Ayushman Bharat scheme.

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Upasana Pradhan

Hello, my name is Upasana Pradhan, I’m currently working as a Content Writer. I have done my Masters in Electronics and Communication from Delhi Technological University, Delhi. I always had a passion for writing. Apart from that, I love listening music, hanging out with friends, Cooking and Shopping.

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