Current Affairs – August, 2018

Latest Current Affairs August, 2018 with Current Affairs, news summary on current events of National and International importance of August, 2018 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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HAL becomes first PSU to transact on TReDS Platform

State-owned aerospace and defence manufacturer Hindustan Aeronautics (HAL) became the first public sector enterprise (PSU) to make transaction on RXIL TReDS platform. It executed its first digitised invoice discounting transaction on RXIL TReDS platform by accepting digital invoice uploaded by Nasik-based MSME (micro category) vendor Narendra Udyog. This transaction was financed by Bank of Baroda.

RXIL- TReDS platform

TReDS is online electronic institutional mechanism for facilitating the financing of trade receivables of micro, small and medium enterprises (MSME) through multiple financiers. RXIL is India’s first TReDS platform operating since January 2017. It promoted by National Stock Exchange (NSE), Small Industries Development Bank of India (SIDBI), State Bank of India (SBI), ICICI Bank and Yes Bank. It enables MSMEs to gain control of their receivables with enhanced visibility and timeliness. In October 2017, Union Government had mandated all major PSUs to join TReDS platform to facilitate payments to MSME (micro, small and medium enterprises) vendors.

Government to set up Cyclone Warning Centre in Kerala

Union Ministry of Earth Sciences has announced to set up Cyclone Warning Centre in Kerala’s capital Thiruvananthapuram. It also proposed to set up C-band Doppler weather radar at Mangalore, Karnataka. This comes in view of recent heavy rainfall and concerns over extreme weather activities in future.

Cyclone Warning Centre

The centre will be equipped with state- of-the-art infrastructure including forecasting tools to provide daily weather alerts, issue weather warnings and coastal warnings or bulletins (for fishermenetc). It is expected to be functional within a month and will cater to the needs of Kerala and Karnataka states. It will further strengthen tpresent forecasting activity in India Meteorological Department’s existing office in Thiruvananthapuram.

At present, IMD has six cyclone warning centres, four along east coast at Chennai (Tamil Nadu), Visakhapatnam (Andhra Pradesh), Bhubaneswar (Odisha) and Kolkata (West Bengal), and two along west coast at Ahmedabad (Gujarat) and Mumbai (Maharashtra).

C-band Doppler weather radar

It is proposed to be set up at Mangalore, Karnataka to provide nowcast alerts for severe weather, including thunderstorms triggered by heavy rain for the next 2-3 hours. This radar will cover northern Kerala and Karnataka. It is expected to be installed by the end of next year. Currently, there are two Doppler radars in Kerala at Kochi and Thiruvananthapuram, which cover central and southern districts, respectively. With addition of this new radar, entire state will be covered for monitoring rainfall and severe weather events.

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