Current Affairs - Sep 2, 2018

Coal, crude oil, natural gas, refined products, fertilizers, steel, cement, and electricity eight core industries have shown record 6.6 percent growth in July 2018.
Production of coal, refinery products, fertilizer, and cement grew by 9.7%, 12.3%, 1.3% and 10.8% respectively; on the other hand, crude oil and natural gas shown negative growth of -5.4% and -5.2% respectively; while steel remained at 6% lower than July 2017.
Index of eight core industries is a monthly index, considered as lead indicator for industrial performance of the country.

India's and Nepal's Prime Ministers signed a Memorandum of Understanding to build railway line during bilateral talks held on the sidelines of BIMSTEC Summit.
This strategic rail link will connect Raxaul (Bihar) and Kathmandu, with the objective of enhancing people to people connectivity and enhance bulk goods movement across the Indo-Nepal border.
After this project, three more rail projects are expected in near future between Nautanwa-Bhairahawa, New Jalpaiguri-Kakarbhitta and Nepalgunj Road-Nepalgunj.
After 135 days blockade in 2015-16, Nepal and China signed various strategic agreements to build rail and road to reduce Nepal's dependence on India. A railway line through Tibet is under construction connecting Nepal and China, other three highway projects are also to be completed by 2020.

Prime Minister inaugurated India Posts Payment Bank in all 650 districts in India from New Delhi. It is seen as a major step toward financial inclusion in rural areas with the help of more than 300,000 Grameen Dak Sevak (postman).
IPPB will enable money transfer, transfer of government benefits, bill payments and other services such as investment and insurance. The postmen would deliver these services at the doorstep.
The IPPB is aimed at taking Direct Benefit Transfer Schemes to next level, it is also meant to facilitate digital transactions, and help deliver the benefits of schemes such as Pradhan Mantri Fasal Bima Yojana, which provides assistance to farmers.

The total number of income tax returns, filed electronically for Assessment Year 2018-19 (FY 2017-18) was 5.42 crore as against the previous year’s 3.17 crore (an increase of 71%).
The government’s decision to impose a penalty on anyone filing returns after the deadline of August 31 may have prompted more people to file their annual financial statements.

The Human Resource Development ministry launched the Atal Ranking of Institutions on Innovation Achievements (ARRIA) and the Innovation Cell.
The rankings will promote a culture of innovation and research in higher education.
The primary mandate of Innovation Cell is to encourage, inspire and nurture young students by exposing them to new ideas.

Asian Games Medal Tally - India has breached its all previous records and now at 15 Gold with overall 69 medals, Previous highest was at 1951 New Delhi Asian Games, with 15 Gold and total 51 medals.
Punjab National Bank's MD and CEO, Sunil Mehta elected as new chairman of Indian Banks Association (IBA) for the year 2018-19.
Indian Naval Ship Sahyadri has reached Port of Darwin, Australia to participate in 14th edition of multilateral regional maritime exercise KAKADU 2018 conducted by Australia. 25 countries including India and China are participating in this exercise.
Pentagon cancels $300 million aid for Pakistan over failure to take action against terror groups. US Defence Secretary Jim Mattis has refused to give the necessary certification to the Congress that Pakistan has taken strong steps against terrorist groups like the Haqqani network and Lashkar-e-Taiba.

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