Current Affairs 16th April 2018 – IAS, UPSC, BANKING, SSC


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Current Affairs 16th April 2018
Union Government Raises NABARD’s Authorised Capital To Rs 300 Billion
As part of the drive to double the income of farmers by 2022, the government has raised the authorized capital of NABARD by six times from 50 billion to Rs 300 billion to help it increase its lending to the rural economy. A bill in this regard was approved by Parliament earlier this year. The increase in authorized capital will enable Nabard to respond to commitments it has undertaken particularly in respect of the Long Term Irrigation Fund and on-lending to cooperative banks.
Himachal Pradesh celebrated 71st Foundation Day
Himachal Pradesh celebrated its 71st foundation day with much fanfare and gaiety. Several cultural events were organized across the state. It may be recalled that the hill state came into existence after the merger of 30 odd princely states in 1948. The main event was held at Ridge Maidan in Shimla, where Chief Minister Jairam Thakur reviewed the ceremonial Parade presented by police, home guards and NCC cadets.
Union Minister Smriti Irani Inaugurates 7th Edition Of Home Expo India 2018 – Current Affairs 16th April
The seventh edition of Home Expo India 2018, organized by Export Promotion Council for Handicrafts (EPCH), was inaugurated at India Expo Centre & Martin Greater Noida. Union Minister of Textiles Smriti Irani inaugurated the fair, while Ajay Tamta, Minister of State for Textiles, was the guest of honor.   Home Expo India 2018 is expected to generate business deals for direct import.
Commonwealth Heads Of Government Meeting Begins In London
The Commonwealth Heads of Government Meeting (CHOGM 2018) begun in London, the UK. Prime Minister Narendra Modi will take part in the event on 19th and 20th of April. The theme of the summit is ‘Towards a Common Future’. The biennial event has brought together delegates from 53 Commonwealth nations. The summit will focus on addressing common challenges across the Commonwealth for a more prosperous, secure and sustainable future.
Prime Minister Narendra Modi Leaves On 5-Day Visit To Sweden & UK
Prime Minister Narendra Modi left on a five-day visit to Sweden and the UK. The visit to the two nations aims at enhancing bilateral cooperation in key areas like trade, investments and Science & technology. On the first leg of his visit, the Prime Minister will attend the first-ever India-Nordic Summit at Stockholm, which will be co-hosted by India and Sweden. In London, Mr. Modi will take part in the Commonwealth Heads of Government Meeting being hosted by the UK.
L&T, BEL Ink MoU For Defence Products
In line with the efforts to indigenize the defense sector under the ‘Make in India’ initiative, Larsen & Toubro (L&T) and Bharat Electronics Limited (BEL) signed a MoU to cater to the needs of evolving domestic and export markets for defense products and systems. The MoU seeks to leverage the capabilities of both the firms for meeting the growing requirements of the Indian Armed Forces. The MoU also intends to leverage the well-developed supply chain, vast experience and expertise of BEL and L&T to synergize and enhance exports in the defense sector.
Punjab National Bank Launches Products To Mark Foundation Day
State-run Punjab National Bank (PNB) launched new products such as pre-approved credit card and UPI solution to mark its 124th foundation day. Besides, the bank announced its UPI partnership with the expense management app WALNUT that comes embedded with features such as bill reminders, bill-split, and instant paperless loans.

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