1. India lets businesses invest in Iran in rupee
- • India is allowing its businesses to invest in Indian Rs. in Iran, in a major departure from rules that allow Indian investors to open business abroad only in foreign currency
- • So far permission to invest in Rs. has only been given to businessmen investing in Nepal & Bhutan
- • Exception has been made in case of Iran as West Asian country has imposed restriction, barring it from dealing in $ and €
2. scientists discover new class of antibiotics in soil
Researchers from The Rockefeller University have discovered a new class of antibiotics in soil that is capable of killing off several antibiotic-resistant pathogens. The research was published in the ‘Nature Microbiology’ journal on February 12, 2018.
The antibiotic compounds are a special class of peptides (special chains of amino acids) which require calcium for antibacterial activity. They are capable of targeting bacteria in a variety of ways and this characteristic makes them effective.
These antibiotics can also target the formation of the bacterial cell membrane or even destroy the cell wall.
3. Indian engineer awarded Sci-Tech Oscar Award
Vikas Sathaye, a Pune-born Indian engineer was recently honoured with the Scientific and Engineering Academy Award at the Oscars Scientific and Technical Awards 2018 at Beverly Hills in Los Angeles, California.
Sathaye received the award along with his team for their contribution towards the conceptualisation, design, engineering and the implementation of the ‘Shotover K1 Camera System’ during his stint at Shotover Camera Systems in Queenstown, New Zealand.
4. Cauvery Verdict: SC reduces Tamil Nadu’s water share, Karnataka’s increased
The Supreme Court of India on February 16, 2018 reduced Tamil Nadu’s share of Cauvery water by 14.75 tmcft water per year, diverting the same to Karnataka.
The court directed the Karnataka government to release 177.25 tmcft of Cauvery water to Tamil Nadu from its inter-state Biligundlu dam, which is down from the state’s earlier allocation of 192 TMC water.
Karnataka will now have an enhanced share of 14.75 tmcft water per year. Earlier, in accordance with the Cauvery Water Tribunal’s order in 2007, Karnataka had a share of 270 tmcft of Cauvery water. Now it will go up to 284.75 tmcft.
5. Ministry of Railways begins recruitment process for over 89000 posts
The Ministry of Railways has announced one of the worlds’ largest recruitment processes for over 89 thousand posts in Group C Level I & Level II categories.
The posts under Group C Level-1 Category include Track maintainer, Points man, Helper, Gateman and Porter in the age group of 18-31 years. The posts under Group C Level –II Category include Assistant Loco Pilots and Technicians such as fitter, crane driver, blacksmith and carpenter in the age group of 18-28 years.