Current Affairs 17th July 2018

Current Affairs 17th July 2018 - Important Points

• Name of Indian supersonic missile successfully test-fired under extreme conditions - BrahMos
• LIC board approves acquisition of up to 51 per cent stake in which bank - IDBI Bank

Current Affairs 17th July 2018 - Details

Name of Indian supersonic missile successfully test-fired under extreme conditions - BrahMos

On 16th July 2018, BrahMos supersonic missile was successfully test fired under extreme wheather conditions. It was a life extention test of missile which achieved all parameters.

BrahMos missile has a flight range of up to 290km, that too with a supersonic speed. BrahMos speed it upto Mach 3.0, which is three times the speed of sound. It can take conventional warhead weighing 200 to 300kg along it. BrahMos missile has been already inducted into Indian Army and Navy and soon it will be a part of Air Force fighter jet Sukhoi 30 MKI.

Important to mention here that, BrahMos Missile has been created by a joint venture of India ( DRDO ) and Russia ( Federal State Unitary Enterprise NPO Mashinostroyenia ).

LIC board approves acquisition of up to 51 per cent stake in which bank - IDBI Bank

 Among Important Banking Current Affairs, LIC ( Life Insurance Corporation of India ) Board has approved acquiring up to 51 per cent stake in state-run IDBI Bank. Economic Affairs Secretary Subhash Chandra Garg shared this information on 16th July. This will inject more funds into IDBI bank.

IRDAI ( Insurance Regulatory and Development Authority of India ) has already given its approval to LIC for the stake purchase. Now it will ask for SEBI ( Securities and Exchange Board of India ) approval. LIC has already 8 per cent stake of IDBI Bank till June 2018.