GK Update 18th November 2017

By: D.K Chaudhary

1. Moody’s Upgrades India’s Sovereign Rating for First Time in 14 Years
i. International rating agency Moody’s Investors Service has upgraded India’s local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive
ii. Moody’s has revised the sovereign rating of India a notch above investment grade after a long gap of 14 years. Moody’s has also upgraded India’s local currency senior unsecured rating to Baa2 from Baa3 and its short-term local currency rating to P-2 from P-3.
News In-a-Line:
Moody’s Investors Service– upgraded India’s local and foreign currency issuer ratings to Baa2 from Baa3 – changed the outlook on the rating to stable from positive.
  1. Moodys Analytics President- Mark Almeida, Headquarters- the USA.
2. NEA, CTGC Sign Joint Venture Pact to Construct West Seti Hydropower Project
i. Nepal Electricity Authority, NEA has signed a joint venture agreement with China Three Gorges Corporation (CTGC), a Chinese company to construct 750 MW West Seti Hydropower Project.
ii. The agreement was signed in Kathmandu by NEA Executive Director Kulman Ghising and representatives of China Three Gorges Corporation (CTGC).  The estimated cost of the project will be 1.8 billion US dollars.
iii. CTGC will have 75% stake in the joint venture and NEA will hold remaining 25%.
News In-a-Line:
Nepal Electricity Authority (NEA)- signed agreement with China Three Gorges Corporation (CTGC)– construction of 750 MW West Seti Hydropower Project– with estimated cost of 1.8 billion US dollars.
  1. Nepal Capital- Kathmandu, Currency- Nepalese rupee.
  2. PM Nepal- Sher Bahadur Deuba, President- Bidhya Devi Bhandari.
3. Venkaiah Naidu Inaugurates AP AgTech Summit-2017
i. Vice president M Venkaiah Naidu inaugurated a three-day AP AgTech Summit-2017 in the coastal city Visakhapatnam.
ii. This summit is organized by the Andhra Pradesh Government in association with Bill and Melinda Gates Foundation, Confederation of Indian Industry (CII) and Dahlberg Advisors.
News In-a-Line:
13th Vice president- M Venkaiah Naidu- inaugurated 3-day AP AgTech Summit-2017 in Visakhapatnam, Andra Pradesh.

  1. Andhra Pradesh CM- Nara Chandrababu Naidu, Governor- E.S L. Narasimhan.
4. Nagaland, First NE State to Launch POS for Paying Electricity Bills
i. Nagaland scripted history when it became the first State in the Northeast to launch Point of Sale (POS) facility for electricity bill payment, where the mode of payment will be cashless.
ii. The POS facility was launched at Kohima. The POS facility would now enable the consumers to pay their electricity bills as cashless transactions have been made available to them.
News In-a-Line:
Nagaland- first State in the Northeast to launch Point of Sale (POS) facility- for electricity bill payment.
  1. Nagaland CM- T.R. Zeliang, Governor- P.B. Acharya.
5. Two-day 12th North East Business Summit Inaugurated in New Delhi
i. The Two-day “12th North-East Business Summit” was inaugurated in New Delhi. The summit aims to explore the scope for business opportunities in the North-Eastern region of India. Focus areas are Infrastructure and Connectivity with Public-Private Partnerships, Skill Development, Financial Inclusion, etc.
ii. The Summit is being organized by the Indian Chamber of Commerce (ICC), with Manipur being the state partner for the event.
  1. Union Minister of State (I/C) for Development of North Eastern Region (DoNER): Dr. Jitendra Singh.
6. Moody’s Upgrades NTPC, NHPC, NHAI & GAIL to Baa2
i. After upgrading India’s sovereign rating to Baa2 stable from Baa3 positive, Moody’s Investors Service has upgraded the ratings of infrastructure government-related issuers (GRIs) NTPC, NHPC, NHAI & GAIL to Baa2 in line with India’s sovereign ratings.
ii. The upgrade in the ratings for these 4 companies follows the upgrade in sovereign rating from Baa3 to Baa2.
  1. Moodys Analytics President- Mark Almeida, Headquarters- the USA.
7. 4th Global Conference on Sustained Eradication of Child Labour Held in Argentina
i. Since 1997, countries around the world have shared knowledge on policies and good practices, and have committed to eliminate child labor in a series of global conferences held in Oslo (1997), The Hague (2010) and Brasilia (2013).
ii. The IV Global Conference on the Sustained Eradication of Child Labour was organized by the Government of Argentina and was held in Buenos Aires.
  1. Argentina Capital– Buenos Aires, Currency– Argentine peso
8. President Launches Schemes Worth Rs 3,455 crore in Jharkhand
i. President Ram Nath Kovind launched various schemes entailing total expenditure of Rs 3,455 crore in Jharkhand to coincide with the state’s 17th Foundation Day.
ii. Kovind launched the Rs 636-crore ‘Mukhyamantri Health Insurance Scheme’ under which 57 lakh of the 68 lakh families in the state will benefit.
iii. Kovind launched JOHAR (Jharkhand’s Opportunities for Harnessing Rural Development) schemes entailing the expenditure of Rs 1,500 crore to help tribal and Dalit families double their incomes in four years.
News In-a-Line:
14th President of India- Ram Nath Kovind- launched- schemes entailing total expenditure of Rs 3,455 crore in Jharkhand- the state’s 17th Foundation Day (15 November).
  1. Formed on- 15 November 2000, CM- Raghubar Das, Governor- Draupadi Murmu.
  2. Jharkhand was created on the birthday of Birsa Munda who fought against the British.
9. RBI Governor Urjit Patel Appointed to Advisory Board of BIS
i. RBI Governor Urjit Patel was appointed to the Financial Stability Institute Advisory Board of the Bank of International Settlement (BIS). The Bank of International Settlement is a global financial organization owned by major central banks from across the world.
ii. The Financial Stability Institute (FSI) of the BIS assists financial sector authorities worldwide in strengthening their financial systems.
News In-a-Line:
24th Governor of RBI- Urjit Patel- appointed to the Financial Stability Institute Advisory Board (FSIAB) of the Bank of International Settlement (BIS).
  1. The FSI was jointly created in 1998 by the BIS and the Basel Committee on Banking Supervision.
  2. FSIAB- Financial Stability Institute Advisory Board.
  3. BIS- Bank of International Settlement.
10. Kevin Lilliana of Indonesia Won Miss International 2017
i. Kevin Lilliana of Indonesia was crowned Miss International 2017 by Verzosa in Tokyo, beating 68 candidates from across the globe.
ii. Other awardees include-
  1. First runner-up: Chanelle Wilhelmina Maria (Curacao),
  2. Miss National Costume: Natsuki Tsutsui (Japan),
  3. Miss International Asia: Nam Seung Woo (Korea).
  1. Indonesia Capital– Jakarta, Currency- Indonesian rupiah.


About D.K Chaudhary

Polityadda the Vision does not only “train” candidates for the Civil Services, it makes them effective members of a Knowledge Community. Polityadda the Vision enrolls candidates possessing the necessary potential to compete at the Civil Services Examination. It organizes them in the form of a fraternity striving to achieve success in the Civil Services Exam. Content Publish By D.K. Chaudhary

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