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  • The Geological Survey of India (GSI) has discovered gold deposits estimated to be around 3,000 tonnes and worth Rs 12 lakh crore in Sonbhadra district of Uttar Pradesh, almost five times India’s current reserve of the yellow metal.
  • The gold deposits were found in Son Pahadi and Hardi areas.If these estimates hold true, India’s gold reserve would jump to second place behind US. According to the World Gold Council’s (WGC) data, the US has the largest gold holding with 8,133.5 tonnes, followed by Germany with 3,366 tonnes and IMF with 2,814 tonnes. Italy (2,451.8 tonnes) and France (2,436 tonnes) .
  • He added that besides gold, some other minerals have also been found in the area.

Rajnath Singh lays foundation stone of new Army HQ building in Delhi

  • Defence Minister Rajnath Singh laid the foundation stone of the newly conceptualised ‘Thal Sena Bhavan’ that will allow the Army to functions its headquarters under one roof, bringing together different offices currently working in eight different locations in the national capital.
  • Thal Sena Bhawan is proposed to be constructed at Delhi Cantonment, opposite Manekshaw Centre, where there is an area of 39 acres.
  • The complex will house offices, residential area for security personnel and basic amenities. Approximately 7.5 Lakh square meter of the area will be constructed to house the office complex and parking. A total of 6,014 offices will be constructed which will house offices for 1684 officers both military and civilian.

WORLD

Pakistan retained on grey list of FATF

  • Pakistan has been retained on the “grey list” of the Financial Action Task Force (FATF) for another four months, with a stern warning from the global watchdog that met in Paris (February 19-21) to complete the 27-point action plan it has been given by June 2020 or face being put on the “black list”.
  • All deadlines in the action plan have expired. While noting recent and notable improvements, the FATF again expresses concern given Pakistan’s failure to complete its action plan in line with the agreed timelines and in light of the Terror Financing risks emanating from the jurisdiction.
  • According to the FATF summary report Pakistan needs to continue to work on eight specific areas, including demonstrating it is “identifying and investigating” all terror financing activity in the country, freezing the funds of all designated terrorists and that its prosecutions result in “effective, proportionate and dissuasive sanctions” against all terror entities in Pakistan.

TAMILNADU

New industrial plans in TamilNadu

  • TN CM Edapadi Palaniswamy has started a new industrial projects for the state for about 1225 crore.
  • Japan based mitsubishi company launches a new company at thiruvallur SIPCOT factory
  • The korean based automotive company in kanchipuram district there to invest of Rs.500 crore.
  • Jojo health, a US based company is to invest 250 crore .
  • A new polumer industry to be launched in thiruvallur district.

ECONOMICS

Economic growth – 4.9%

  • India’s economic development is expected to be 4.9% in the current year, according to NCAER.
  • The Indian economy has slowed down to 4.9% in this year from 6.9% in 2018-19.

NEWS HINTS

  • A new textile park will come up in Salem and Thoothukudi districts,with the help of the central government .
  • Myanmar President Win Myint, along with his wife, the First Lady, Daw Cho Cho, is to visit to India next from 26-29 February.