Current Affairs 23rd October 2016

Current Affairs 23rd October 2016 - Important Points

• $650 Million agreement was inked between India and World Bank for - Eastern Dedicated Freight Corridor
• Name of scheme launched by Union Government for Regional Air Connectivity - UDAN
• Rs 3050 crore penality was recommended by TRAI on - Airtel, Vodafone & Idea

Current Affairs 23rd October 2016 - Details

$650 Million agreement was inked between India and World Bank for - Eastern Dedicated Freight Corridor

On 21st October 2016, India inked loan agreement of 650 million dollar with World bank for Eastern Dedicated Freight Corridor-III (EDFC-III) Project. This project will be executed with an aim to benefit industries of Northern and Eastern India as till now they are connected with railway only, thus it will also boost jobs in the area.

Name of scheme launched by Union Government for Regional Air Connectivity - UDAN

On 21st October 2016, Union Govt launched the regional air connectivity scheme UDAN which will be aimed to get more people fly to smaller town.
This scheme is expected to be rolled out by Jan 2017 as per Civil Aviation Minister Ashok Gajapathi Raju.
By this scheme there will be more economical seats available for common people as airfares will be capped at Rs 2500 for 1 hour flight.

Rs 3050 crore penality was recommended by TRAI on - Airtel, Vodafone & Idea

Among Important Business Current Affairs, TRAI recommended imposition of 3050 crore rupees penalty on Idea cellular, Aitel and Vodafone.
This fine was imposed for allegedly denying interconnectivity to Reliance Jio, as it was under licence conditions.
Here is break up of fine :
Airtel - Penality is of 1050 crore rupees,
Idea - Penality is of 950 crore rupees,
Vodafone - Penality is of 1050 crore rupees.