“Paisa – Portal for Affordable Credit & Interest Subvention Access”, Launched Under Deendayal Antyodaya Yojana – National Urban Livelihoods Mission (DAY-NULM). It is a centralized electronic platform for processing interest subvention on bank loans.
Allahabad Bank is a Nodal bank for PAiSA Portal.
Union Minister Kiran Rijiju inaugurated the 14th Formation Day of the National Disaster Management Authority (NDMA). The theme of this year's Formation Day is Early Warning for Disasters. Timely early warning is key to a structured and efficient response.
NDMA is an agency of the Ministry of Home Affairs.
A task force under Akhilesh Ranjan as a Convenor setup to review the Income-tax Act, 1961 and to draft a new direct tax law in consonance with the economic needs of the country. The Task Force has to submit its report to the Government by February 28, 2019
Previously Arbind Modi was the convenor of Direct Tax drafting.
The National Festival for Children of Child Care Institutions (CCIs)- “Hausla 2018” organized by the Ministry of Women and Child Development. “Child Safety” is a theme for 2018. It provides a platform for the children from CCIs to showcase their talent.
Maneka Gandhi is Union Minister for Women and Child Development.
The Asian Development Bank (ADB) and the Government of India (GoI) signed a $200 million loan to finance widening and upgrading of about 230 Kilometres State Highways in Bihar to all-weather standards with road safety features which will boost connectivity
Patna is the capital city of Bihar.
The Reserve Bank of India has reduced mandatory hedging requirement for borrowers raising overseas funds to 70 percent from 100 percent. It can help in reducing hedging costs during overseas fundraising which will ease the burden on cash crunch of NBFC.
Urjit Patel is governor of RBI.
Sunil Arora will be the new Chief Election Commissioner (CEC) of India. He succeeds Om Prakash Rawat. A former bureaucrat, Arora was appointed as Election Commissioner in August 2017. CEC have tenure upto 65 years of age or 6 years whichever is early.
Election Commission of India is a Constitutional Body.
According to the International Labour Organisation (ILO) report, India recorded the highest average real wage growth in South Asia during 2008–17. In South Asia, India led the average real wage growth in 2008–17 at 5.5 while Nepal stood second with 4.7%.
International Labour Org. Formed in 1919.
Marin Cilic clinched Croatia's second Davis Cup title as he beat France's Lucas Pouille. The 2018 Davis Cup is the 107th edition of the Davis Cup, a tournament between national teams in men's tennis. Croatia won Davis cup title 13 years after the first title.
France won Football world cup by defeating Croatia in final.
Iravatham Mahadevan, one of the world’s leading scholars on the Indus Valley Script, a scholar on the Tamil Brahmi script, passed away. He is widely recognized for his work as Epigraphist. He was a former member of the Indian Administrative Service (IAS).
Mahadevan was awarded the Padma Shri in April 2009.