25th August 2018 Current Affairs

Contents

Commerce Ministry developing National Logistics Portal

The Ministry of Commerce and Industry is developing a National Logistics Portal to ensure ease of trading in the international and domestic markets.
India is aiming to lower logistics costs from 14% of GDP to less than 10% by 2022.
The portal will link all the stakeholders of export-import, domestic trade and all trade activities on a single platform.
The aim is to enhance trade competitiveness, create jobs, boost India’s performance in global rankings and make India a global logistics hub.

Rohan Bopanna and Divij Sharan won their maiden men’s tennis doubles gold medal at the Asian Games 2018.
They defeated Aleksander Bublik and Denis Yevseyev of Kazakhstan 6-3 6-4 in 52 minutes.
With this victory, India has won the men’s doubles gold on a total of four occasions at the Asian Games.
Somdev Devvarman and Sanam Singh were the last Indian pair to win gold; they did it at the 2010 Guangzhou games.
Mahesh Bhupathi and Leander Paes won gold back to back in the 2002 and 2006 Games.

India and Singapore have signed the Second Protocol amending the Comprehensive Economic Cooperation Agreement.
This will boost bilateral trade between the two countries.
Both sides agreed to expand the coverage of tariff concessions, liberalize the Rules of Origin, rationalize Product Specific Rules and include provisions on Certificate of Origin and Cooperation on its verification.

Ujjivan Small Finance Bank has launched its overdraft facility for micro and small enterprises (MSE).
The facility is an add-on product to the existing MSE term loans offered by the bank.
The bank will offer this facility to all MSEs with a turnover of Rs 50 lakh or more.

The World Bank has launched ‘bond-i’, which is the world’s first bond to be created, allocated, transferred and managed using distributed ledger technology.
Bond-i is a blockchain operated new debt instrument.
The two-year bond raised AUD 110 million.