Current Affairs - September, 2018

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

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India, Germany sign MoA on skill development

India and Germany have singed Memorandum of Agreement (MoA) on skill development, which will provide dual vocational education and training to Indian youth. It was signed between Ministry of Skill Development and Entrepreneurship (MSDE) and Indo-German Chamber of Commerce (IGCC).


This MoA focuses on the field of dual vocational education and training and skill development of Indian youth. Under it, students who complete specific training courses in India will get certificate that is recognised in India and also in Germany. It will these students to apply for jobs in companies in India and also in Germany. Joint body called German Indian Institute of Vocational Education and Training (GIIVET) that has been set up will look after this programme.


The idea of MoA was first mooted during interaction between Prime Minister Narendra Modi and Chancellor Angela Merkel in 2015.It was later spelled out by Joint Working Group. Since then, IGCC and MSDE have hammered out details to prepare this MoA.

Month: Categories: International


Government inks US$ 74 Million loan agreement for Uttarakhand Workforce Development Project

Union Government has inked US$74 million loan agreement for International Bank for Reconstruction and Development (IBRD) Credit for Uttrakhand Workforce Development Project (UKWDP).

Uttrakhand Workforce Development Project (UKWDP)

The objective of this project is to improve quality and relevance of training at priority Industrial Training Institutes (ITIs) and increase number of labor-market-relevant workers through short term training in Uttrakhand. The closing date for Project is June, 2023, with maturity of 17 years and grace period of 5-year. For this project, 25 ITI’s have been selected – 13 located in District Centers and 12 ITI’s linked to industries. Two out of four women’s ITIs also have been included in the list.

Three components of UKWDP

  • Improve quality and relevance of ITI Training.
  • Increase number of skilled workers certified under National Skills Qualification Framework (NSQE) – Compliant Short Term Training.
  • Policy and institutional development and project management.

World Bank

World Bank is an international financial institution that provides loans to countries of the world for capital projects. Its official goal is reduction of poverty by providing loans to developing countries for capital programmes. It is one of five institutions created at Breton Woods Conference in 1944. It is headquarter is situated at Washington DC, US.

World Bank comprises two institutions: the International Bank for Reconstruction and Development (IBRD), and the International Development Association (IDA). It is component of World Bank Group, which also includes three more subsidiary organisations viz. International Finance Corporation (IFC), Multilateral Investment Guarantee Agency (MIGA), and International Centre for Settlement of Investment Disputes (ICSID). World Bank is part of United Nations system, but its governance structure is different.

Month: Categories: Business, Economy & Banking