Current Affairs 21st September 2018

Current Affairs 21st September 2018 - Important Points

• India and Morocco sign revised Air Services Agreement enabling greater connectivity on - 19th September 2018
• National Sports Awards 2018 announced; Mirabai Chanu, Virat Kohli to get Rajiv Gandhi Khel Ratna on - 20th September 2018
• Revised Cost Estimate of Dam rehabilitation and Improvement Project approved by - CCEA
•  India, Russia Air Force joint exercise commences - Aviaindra 18

Current Affairs 21st September 2018 - Details

India and Morocco sign revised Air Services Agreement enabling greater connectivity on - 19th September 2018

India and Morocco on 19th September 2018 inked the reviewed Air Services Agreement permitting greater connectivity among the 2 nations via a modernised agreement.  The representatives of the both nations have earlier met thrice and they have worked towards liberalisation of markets among the both nations and towards updating the current Air Services Agreement. 
The modernized Air Services Agreement was officially inked during the visit of Mohammed Sajid, Moroccan Minister of Tourism, Air Transport, Handicraft and Social Economy. Union Minister of Commerce and Industry and Civil Aviation, Suresh Prabhu inked the contract for the Indian side.
Revised Air Services Agreement

• The reviewed contract is enabler for greater air connectivity between India and Morocco.
• It will facilitate the airlines of each side to enter code share with airlines of other party and deliver greater freedom in mounting direct flights.  
• The selected Airline of each party can enter into obliging marketing arrangements with the selected carriers of same party, other party and that of a 3rd party.
• This contract permits designated airlines of either nations to begin offices in the territory of other nation for the promotion and sale of air services.
• Indian selected carriers can run any number of services to and from Casablanca, Rabat, Marrakesh, Agadir, Tangier and Fez in Morocco and likewise Morocco can function any number of services to/from New Delhi, Mumbai, Kolkata, Chennai, Bangaluru and Hyderabad.

National Sports Awards 2018 announced; Mirabai Chanu, Virat Kohli to get Rajiv Gandhi Khel Ratna on - 20th September 2018

The National Sports Awards 2018 were declared by the Union Ministry of Youth Affairs and Sports on
September 20th, 2018. Indian Cricket skipper Virat Kohli and world weightlifter champion Mirabai Chanu will mutually be conferred with India’s highest sporting pride, Rajiv Gandhi Khel Ratna award 2018.

Important Points

• This year, the Ministry got a large number of proposals for these awards.
• The proposals were considered by the Selection Committees containing a former Olympian, Arjuna Awardees, Dronacharya Awardees, Dhyan Chand Awardees, Sport Journalists, Experts and sports superintendents. 
• The Selection Committee for Rajiv Gandhi Khel Ratna Award and Arjuna Awards was led by Justice Indermeet Kaur Kochhar who was Former Judge of High Court of Delhi High Court. 
• The Selection Committee for Dronacharya Awards and Dhyan Chand Awards was led by Justice Mukul Mudgal who was Former Chief Justice of High Court of Punjab and Haryana.
• The Selection Committee for Rashtriya Khel Protsahan Puruskar was led by Rahul Bhatnagar, Secretary (Sports). 
• The Selection Committee for MAKA Trophy was led by Ashok Kumar, former Olympian.
• The award is named after Rajiv Gandhi, former PM of India who worked from 1984 to 1989.
• The recipients are nominated by a committee constituted by the Ministry and is obligated for their spectacular and most outstanding performance in the field of sports over a period of 4 years" at international level.
• The award includes a medallion, a citation, and a cash prize of Rs. 7.5 lakh.

BSE, NSE get SEBI approval to launch commodity derivatives segment from - 1st October 2018

The capital markets regulator SEBI has permitted India’s top 2 stock exchanges BSE Ltd and National
Stock Exchange of India Ltd (NSE) to issue commodity derivatives trading from 1st October, 2018. This
sanction is part of Securities and Exchange Board of India’s December 2017 declaration of having unified exchange regime where stock exchanges will be permitted to offer trading in commodities. By unified exchange regime stock exchanges need not to form different things to offer commodity trading.
Significant Facts

• With this approval, BSE will start trading in commodity offshoots with non-agriculture supplies including metals originally, shadowed by agri-commodities later.
• National Stock Exchange will release its commodity derivatives section trading in non-agriculture supplies in early phase, followed by agriculture commodities, subject to Securities and Exchange Board of India endorsement.
  Importance
• Universal interchanges will assist in attaining combination of trading in commodity derivatives market with other sections of securities market at exchange level.
• It will assist in delivering efficient price discovery, reduction in timelines, cost effectiveness, user-friendly, vigorous risk management system and wider market infiltration.
• It will benefit in creating deeper markets with lower spreads across all categories of trading.
• It will suggest greater convenience as traders will be talented to trade all strength categories from single account.
• It may also result to consolidation of cross-holding standards as unions between exchanges of different categories seem striking.
• In long-term, Indian exchanges will feel it easier to contest with their global counterparts and they are existing in multiple segments.

 Revised Cost Estimate of Dam rehabilitation and Improvement Project approved by - CCEA

Cabinet Committee on Economic Affairs has sanctioned Revised Cost Estimate of Dam Rehabilitation
and Improvement Project. It has been augmented to Rupees 3,466 crores from past Rupees 1968 crores.
Cabinet Committee on Economic Affairs also approved 2 years extra time for project from July 2018 to
June 2020.
Revised Funding pattern
Out of total revised cost of Rupees 3,466 crores, Rupees 2,628 crores will be donated by World Bank and Rupees 747 crores will be donated by Dam Rehabilitation and Improvement Project States or
Implementing Agencies and balance Rupees 91 crore will be donated by Central Water Commission.
Dam Rehabilitation and Improvement Project 
The project goals to progress safety and operational performance of 198 Dams from 7 states, along with institutional establishment with system wide management tactic. It will also progress safety and
operational performance of selected present dams and moderate risks to make sure safety of
downstream population and property.
DRIP objectives
Component I: Rehabilitation of Dam and its appurtenant constructions.

Component II: Institutional Establishment.
Component III: Project Management.
Primary receivers of this project are both urban as well as rural communities dependent on reservoir and downstream communities, who are disposed to risk related with dam or operational failure. The
institutional consolidation component of this project will augment effectiveness of Dam Safety
Organisations to take the lead to make dams safe from structural and operational point via capacity
building of staff and officials.
The project envisages comprehensive rehabilitation of 198 existing dam projects located in seven states
including Kerala, MP, Odisha, Tamil Nadu, Karnataka, Uttarakhand Jal Vidyut Nigam Limited and
Jharkhand- Damodar Valley Corporation.

 India, Russia Air Force joint exercise commences - Aviaindra 18

India and Russia joint air exercise Aviaindra-18 was organised in Lipetsk, Russia from September 17th to 28th, 2018. The 2nd session of Aviaindra-18 will be held in Jodhpur, Rajasthan from December 10th-
22nd, 2018 Exercise Aviaindra-18 Exercise Aviaindra is Air Force level exercise among India and Russia. It was held for 1st time in 2014 and since then it is organised twice in a year in both nations. The purpose of this exercise is attentive towards anti-terrorist operations in bi-lateral scenario. It also looks forward to further enhance co-operation and understanding among Air forces of both nations in each other’s Concept of Operations.
Aviaindra-18 witnessed participation of Indian Air Force including 30 officers from various branches and streams of Indian Air Force with 4 women officers of Flying, Admin and Medical Branch. Indian Air
Force’s aircraft including Su-30 SM, Mig-29, Su-25, Mi-8 and An-26 took part in the exercise. Apart from
flying activities, formal interactions, debates, exchange of ideas and friendly sports were also organised
to boost bonhomie between 2 Air Forces.