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1-PM Modi Leaves For Sochi For Informal Summit With Russian President
Prime Minister Narendra Modi has left on a day-long visit to Russia. Mr Modi will hold an informal summit with Russian President Vladimir Putin in Sochi. The interaction will be part of regular consultation between the leadership of the two countries.
The two leaders will meet in an informal atmosphere where they will discuss several regional factors of the bilateral relations. The Prime Minister and Russian President would also discuss issues like the situation in Afghanistan and Syria and the threat of terrorism. Matters of upcoming Shanghai Cooperation Organisation, BRICS and Eurasian Economic Union summits would also figure in the talks.
2-India 6th Wealthiest Country With Total Wealth Of 8,230 Billion USD
India is the sixth wealthiest country in the world with a total wealth of 8,230 billion US dollars. According to the AfrAsia Bank Global Wealth Migration Review, the US is the wealthiest country in the world with a total wealth of 62,584 billion dollars. China stood at the second place with 24,803 billion dollars, while Japan is at the third place with 19,522 billion dollars.
Total wealth refers to the private wealth held by all the individuals living in each country. It includes all their assets less any liabilities. Government funds are excluded from it. Globally, the total private wealth held worldwide amounts to around 215 trillion US Dollars.
3-South Korea Wins Asian Champions Trophy 2018
The Indian women’s Hockey team failed to defend its crown at the fifth Asian Champions Trophy,
as it lost to hosts South Korea, 0-1 in the summit clash at Donghae City, South Korea.
A goal by Youngsil Lee clinched the Korean team as the winner of Champions Trophy.
The final was India’s first defeat of the tournament. South Korea has lifted the title for the third time after having won it in 2010 and 2011. India, on the other hand, finished second best for the second time after having lost to Japan in the final of the 2013 edition. Indian striker Vandana Katariya was declared player of the tournament while youngster Lalremsiami was named as the upcoming player of the tournament.
4-RBI Slaps Rs5-Cr Penalty On South Indian Bank
The Reserve Bank of India (RBI) has imposed a penalty of Rs5 crore on South Indian Bank (SIB) for non-compliance with its directions on Income Recognition and Asset Classification (IRAC) norms, Know Your Customer (KYC) norms and treasury function.
The penalty has also been imposed on the Thrissur-headquartered private sector bank for deficiencies in its compliance function and compliance culture.
5-Tamil Nadu To Build India’s Next Generation Defence Aircraft
The Aeronautical Development Agency (ADA), which had conceived and designed the Light Combat Aircraft (LCA) Tejas, has set the ball rolling for building the next generation defence aircraft, the Advanced Medium Combat Aircraft (AMCA), by extending an invitation to private players in Coimbatore to build a technology demonstrator.
The proposal is not only the first time an indigenous military aircraft programme is seeing the involvement of private players, but it is also the first time a defence plane development project is proposed to be executed outside Bengaluru. The project to be implemented in Sulur in Coimbatore district which may house the permanent base of the Tejas squadron marks Tamil Nadu’s first major defence aircraft project.
6-NMDC, NLC To Ink Pact With Aussie ECT For R&D Project
NMDC Limited and NLC India Limited (formerly Neyveli Lignite Corporation) has decided to invest over USD 26 million for setting up an R&D facility for developing innovative technologies in iron and steel making. Australian Securities Exchange, the NLC and NMDC will sign the Master Project Agreement (MPA) with ECT to establish world’s first Australian-designed Coldry and Matmor plant in Tamil Nadu.
Senior executives of NMDC Limited and NLC India Limited will visit Australia to sign ajoint R&D agreement with Environmental Clean Technologies Limited (ECT) an Australian company expert in commercialising leading-edge coal and iron-making technologies.