Current Affairs for July 1, 2019
BANKING AND ECONOMY
CURRENT AFFAIRS VIDEO
- FSSAI has proposed that all food packets should have a red-color-code on the front side, displaying the high levels of fat, sugar, and salt under its draft regulation FSSAI- Labelling and Display regulation 2018.
- Nutritional information such as calories, saturated fat, trans-fat, added sugar and sodium per serve would be displayed on the front of the packet.
- INS Tarkash has reached at the Alexandria in Egypt for a three-day visit as part of Western Fleet Overseas Deployment program of Indian Navy.
- Purpose: – To strengthen the ties between Egypt and India.
- Aparna Kumar (IPS officer and an officer of Indo-Tibetan Border Police), has become the first civil officer to climb North America’s Highest Peak Denali in Alaska.
- She has also become the 1st woman IPS DIG and Indo-Tibetan Border Police (ITBP) officer to successfully complete South Pole expedition.
- With this, she has completed her “seven summit challenge”; which is a challenge to climb the highest peaks of all 7 continents.
- Goa Cabinet has approved an amendment to “Factories Act 1948” to allow women to work during night shifts (from 7 pm to 6 am) in industries.
- Purpose: – To increase employment opportunities for women as part of the women empowerment initiative.
“Factories Act 1948” supervises overall well-being of persons at workplaces in factories.
Basic units covered under the act are factories having 10 or more workers (with electricity use) and factories with 20 or more workers (without electricity connection).
- Ministry of Telecommunications has formed a committee, headed by Aruna Sundararajan (telecom secretary), to review the taxes such as spectrum usage charge, and to promote Ease of Doing Business in the telecom sector.
- Agenda: – To revive the financially-stressed telecom sector of India.
- PSUs BSNL and MTNL’s revival plan is under work by Telecom ministry.
- Mahatma Gandhi Information Technology and Biotechnology Park (MGIT-BP) has been recently inaugurated at Grand-Bassam in the Republic of Cote d’Ivoire (Ivory Coast) in Western Africa.
- It built with aid from EXIM Bank’s Line of Credit (LoC) of $20 million.
- MGIT-BP is a “free-trade zone” built in 2 phases to mark the 150th anniversary of Mahatma Gandhi.
Architectural concept and design for buildings- done by India’s Shapoorji Pallonji company
Supply of equipment is implemented by- India’s United Telecom Ltd.
- So far, India has extended 6 Lines of Credit worth $207.70 million for building Infrastructure, improving Ivorian skills, etc. according to Ministry of External Affairs.
- UN has conducted voting for the draft to establish common international standards for the import, export, and trade of goods used for “capital punishment, torture or other cruel, inhuman or degrading treatment or punishment.”
- India abstains from voting for it claiming that torture is absolutely inhumane and capital punishment has been taken care of in law.
- NASA seeks to launch “Dragonfly drone helicopter” to Titan (Saturn’s largest moon) to search elements (building blocks) that can sustain life, by 2026.
- It will arrive at its destination in 2034.
- Dragonfly will first land on the “Shangri-La” mound field, which is similar to a linear dune found in Namibia in southern Africa.
BANKING AND ECONOMY
- Ministry of Finance has reduced the interest rate on small savings schemes (SSS) by 1% (or 10 basis points) for the July-September quarter.
Saving deposit account
Public provident fund
National Savings Certificate
Kisan Vikas Patra
7.6% (113 months maturity)
7.7% (112 months maturity)
Sukanya Samriddhi Account
- According to RBI, India’s Current Account Deficit (CAD) has risen by 1% of GDP at $57.2 billion in FY19.
- Reason:- High imports of crude oil.
Category of trade deficit
Trade deficit (for whole year)
Trade deficit (for March quarter)
1.8% at $13 billion (in March quarter)
0.7% of GDP- $4.6 billion in Mar quarter
2.7% ($17.7 billion) in Oct-Dec of FY19.
Net services receipts
Rose by 5.8%
Private transfer receipts fell (For Jan-March 2019)
by 0.9% ($17.9 billion)
$ 6.4 billion (Q4)
$ 6.4 billion (Q4)
- International Day of Tropics is observed on June 29 to recognize the role of countries in the tropical areas in achieving Sustainable Development Goals (SDGs).
- This day is observed to mark the anniversary of the release of first State of the Tropics Report by Aung San Suu Kyi.
- International Asteroid Day is observed on June 30 by the UN to spread awareness about asteroid’s hazardous impact on Earth and informs about an emergency action plan in case of near-earth object threat.
- It commemorates the Tunguska (asteroid’s) impact over Siberia (Russia) on 30 June 1908.
- 2nd International Day of Parliamentarism was observed on June 30, 2019, by UN.
- On June 30, 1889, Inter-Parliamentary Union (global organization of parliaments) was established in Geneva, Switzerland.
- National Aluminium Company Ltd. (NALCO) has been selected for “President’s award” for its “NALCO ki Ladli” Scheme (pursued under Corporate Social Responsibility (CSR) fund).
- NALCO is a Navaratna CPSE based in Odisha operating under Ministry of Mines.
- NALCO ki Ladli (started in 2015) promotes education for girls belonging to BPL families.
- UK-India Award 2019 was conferred to mark the conclusion of annual UK-India Week 2019, which started with the 1st ever ‘India Day’ in Houses of Parliament in London.
- The award (organized by India Inc.) recognizes people/organizations who contributed in strengthening ties between India-UK.
- For the First time in its 3 years journey, an all-women jury was set up to give awards.
‘Lifetime Achievement Award’
Journalist Sir Mark Tully
Former Bureau Chief of BBC in New Delhi
Market Entrant of the Year
Indian hospitality start-up
Social Impact category
British Telecom (BT)
Global Indian Icon of the Year
Played “Rajesh Koothrappali” on US sitcom ‘The Big Bang Theory’
Special Significant Contribution to UK-India Relations Award
Lord Karan Bilimoria
Indian-origin peer and Cobra Beer founder
Start-up of the Year Award
a new platform to link funders & receivers for global sustainable development
- Central Railway (Women) and Union Bank of India (Men) won the St Peters Youth Centre Open Hockey Tournament 2019, held in
- Preeti Yadav (Olympian) was the Best player of the Tournament.