· Denmarks Jyske Bank unveiled worlds first negative interest rate home loan

Denmark’s third-largest bank Jyske Banklaunched the world’s first negative interest rate mortgage. The bank handling out loans to homeowners where the charge is minus 0.5% a year. It has begun offering borrowers a 10-year deal at -0.5%. Jyske bank borrowers will make a monthly repayment, as usual, The amount still outstanding will be reduced each month by more than the borrower.
Negative interest rates effectively mean that a bank pays a borrower to take money off their hands, so they pay back less than they have been loaned.

NATIONAL

Mumbai is all set to get the first Indian Institute of Skills – IIS, the foundation stone of which will be laid next month.

Union Minister for Skill Development and Entrepreneurship, Dr Mahendra Nath Pandey announced that the institute is likely to be operational by next year.

Pandey informed that the project will be executed on a Public-Private Partnership basis, wherein Tata Educational and Development Trust will build the infrastructure and run the centre at an investment of 300 crore rupees.

The IIS will have a capacity to train 10,000 trainees in traditional as well as new-age skills like factory automation, digital manufacturing, cybersecurity, additive manufacturing, data analytics, digital design, smart mechatronics among others.

· Indian Railways to get CORAS

Ministry of Railways and Commerce & Industry launched Commando for Railway Security (CORAS) of Indian Railways. It was launched by Shri Piyush Goyal. He also launched a new establishment manual for Railway Protection Force (RPF). The induction of CORAS was planned in RPF. The Ministry also plans to install a new network of CCTV cameras at every station. It will be set up to enhance the security of Railway passengers.

The launch of CORAS is aimed atproviding security to the Railway passengers. It has been launched to meet the challenges to Railway security. It also ensures to develop world level capabilities of specialized responder for any situation pertaining to damage, disturbance, disruption of train operations, attack/hostage/hijack, disaster situations in railway areas.

Prime Minister Narendra Modi said that the government is to launch the Jal Jeevan Mission scheme. The scheme aims to bring piped water to households. The estimated cost of the project is more than 3.5 lakh crore.
Niti Aayogreported that nearly 600 million Indians are facing high to extreme water stress. The report said that 21 cities, including Delhi, Bengaluru, Chennai and Hyderabad, will run out of groundwater by 2020, affecting 100 million people.

The scheme functions under the Jal Shakti Ministry. It aims to work with state governments to ensureHar Ghar Jal to all rural households by 2024.
Under the first phase of the scheme, the government is to focus on rainwater harvesting and water conservation in 256 districts and carry out other initiatives. It includes renovation of traditional water bodies and tanks, reuse of water and recharge structures, watershed development and intensive afforestation.

The Prime Minister Narendra Modi has announced thecreation of post of Chief of Defence Staff (CDS) on 15 August. The rank of CDS will be a first among equals. It will be a fourth four-star officer who will be senior to the three other service chiefs. It is the most significat reform in the defence.

The creation of the post aims to make the Indian defence forceseven more effective. It will also ensure the better coordination between the three defence services.

Chief of Defence Staff (CDS) will act as the single-point advisorto the Government. The CDS officer will be advising the Army, Navy and Airforce on matters related to all the three services. The officer concerned will make the Country’s armed forces

In 2000, a Group of Ministers (GoM) were set up to examine the findings of the Kargil Review Committee (KRC). This GoM suggested the introduction of the CDS post at the end of the review. Then in May 2001, former Minister of State for Defence Arun Singh-led GoM recommended the appointment of CDS with the administrative control over India’s Strategic Forces Command. Once again in 2016, the proposal for the post was recommended.

The 14th Edition of KONKAN series of annual bilateral exercises between Indian Navy and Royal Navy of Britain is currently underway off the South Coast of UK.

INS Tarkash, the Indian Navy’s stealth frigate is exercising with the Royal Navy’s Daring Class Destroyer, HMS Defender with integral helicopter Wildcat.

KONKAN-19 will involve Gunnery Shoots, Manoeuvres, Cross Deck Flying, ASW Screening and Air Defence exercise.

The thrust of the KONKAN this year is on Anti-Air warfare, Anti-Surface Warfare, Flying Operations and Seamanship Evolutions of varying complexities.

India won the Physical Disability World Series 2019 in England after defeating the hosts in the final at the New Road Stadium in Worcester.

The Indian team defeated England by 36 runs in the final on to clinch the elusive trophy.