Current Affairs for August 12, 2019
BANKING AND ECONOMY
CURRENT AFFAIRS VIDEO
- Ministry of Agriculture is planning to launch a “Uber for tractors” app to facilitate hiring of farm equipment on rent easily.
- Currently, there are more than 38,000 custom hiring centres which rent out 5 lakh pieces of farm equipment every year.
- Gogabeel, an ox-bow lake located in Katihar district of Bihar, has been declared as state’s 1st ‘Community Reserve’.
- Gogabeel is formed from the flow of the rivers Mahananda and Kankhar in the north and Ganga in the south and east.
- It has become the 15th Protected Area in Bihar with more than 90 bird species (including 30 migratory birds) are found on this site.
- Central Govt., Tripura State Govt. and National Liberation Front of Tripura (NLFT) have signed a tripartite Memorandum of Settlement (MoS) to surrender 88 cadets of the NLFT (a terror outfit).
- Surrendered cadets would get benefits under Surrender-cum-Rehabilitation Scheme, 2018 of Ministry of Home Affairs.
- India and Bangladesh set up a Joint Technical committee for optimum utilization of Ganges water (received by Bangladesh) under the Ganga Water Sharing Treaty, 1996.
- A framework for temporary water-sharing agreement for 8 rivers including Feni, Gumti and Teesta has been prepared.
- Ganges-Brahmaputra-Meghna mega-basin is the world’s 2nd largest hydraulic region.
- Hydraulic Region:- Hydraulics is a mechanical function that uses liquid pressure to create force that is applied at one point and is transmitted to another point
- Ministry of Defence has extended the benefits of Child Care Leave to single male service personnel along with woman officers for taking care of child with 40% disability (without any restriction of age limit of child).
- Minimum period of CCL that can be availed in each case has been reduced to 5 days from earlier limit of 15 days.
- Virasat-e-Khalsa museum located in Punjab has created a record for having highest visitors in a day at 20,569 on 20 March, 2019.
- It will be included in the Asia Book of Records as the most visited museum in Asian sub-continent on a single day.
- A research published in the ‘Lancet Global Health’ shows that 1/3rd of the Indians suffered severe lung damage after successful treatment of TB.
- A total of 2,000 Indian patients of TB were assessed and the result shows that lung infections has caused failure of 40% of the patients’ lung capacity in most cases.
- The study was conducted by University of Dundee (Scotland) and Respiratory Research Network of India and funded by British Lung Foundation and European Respiratory Society.
BANKING AND ECONOMY
- Saudi Aramco will acquire a 20% stake in Reliance’s refining and petrochemicals business for an enterprise value of $75 billion.
- SEBI has proposed new changes in the Portfolio Management Services (PMS) in India, to make it more transparent and investor friendly.
- Changes: – minimum investment in PMS increased from ₹25 lakh to ₹50 lakh, reporting requirements have been standardized and trail model has been adopted in place of upfront to trail model.
- Loophole: – The recommendations do not mandate explicit public disclosure of holdings and returns which makes comparison and selection of PMS products difficult.
- In India, PMS are governed by the SEBI (Portfolio Managers) Regulations, 1993.
Upfront commission: – It is a one-time payment that an Asset Management Company pays a distributor on selling a mutual fund scheme to an investor.
Trail commission: – It is a recurring fee paid to a distributor until the investment is withdrawn. Trail commission is calculated on an yearly basis and paid on a monthly basis.
- Sintex Group has decided to sell its firm- Sintex NP SAS to Xtech Invest for £155 million.
- Sintex Group is the world largest producer of plastic water tank and also Asia’s largest producer of corduroy fabrics.
- Morgan Stanley Capital International (an index compiler) has added HDFC Life Insurance Company Ltd. to its Global Standard Index.
- It has removed Union Bank of India from its India Smallcap Index.
- In May, the index had deleted 10 stocks including from its Smallcap index and added 12 new companies of India.
- Chandrima Shaha has been appointed as first woman president of the Indian National Science Academy (INSA).
- INSA (HQ- Delhi; Estb.- 1935) is the apex body of Indian scientists representing all branches of science and technology.
- Malabar Gold and Diamonds has appointed Anil Kapoor as its brand ambassador.
- Chinese Taipei has won the Asian Under-23 Men’s Volleyball Championship 2019 held in Nay Pyi Taw, Myanmar.
- Mahak Jain (tennis player) won her first ATP tour title at Nairobi, Kenya.
- India won 6 medals–3 gold, 1 silver and 2 bronze at the Bulgarian Junior International Badminton Championships 2019 held in Pazardzhik, Bulgaria.
- Indian Gold Winners: – Samiya Imad Faruqui, Edvin Joy and Shruti Mishra, Tanisha Crasto and Aditi Bhatt.
- Chennai Lions has won the Ultimate Table Tennis League held in New Delhi.
- Bajrang Punia has won gold medal at Tbilisi Grand Prix 2019 held in Tbilisi, Georgia (a country at the intersection of Europe and Asia).
- Vinesh Phogat has won gold (her 4th consecutive gold) at the Medved event in Minsk, Belarus.
- Sourabh Verma has won men’s singles title in the Hyderabad Open BWF Tour Super 100 tournament.
- Women’s Singles Title: Yeo Jia Min (Singapore).
- ‘Listening, Learning and Leading’ book based on the life and works of M. Venkaiah Naidu’s two years in office as Vice President of India has been released.
2. Sanjay Suri has written book- “A Gandhian Affair” that studies “India’s portrayal of love in cinema” in 60s and 70s era.