Current Affairs for July 13 And July 14, 2019
BANKING AND ECONOMY
CURRENT AFFAIRS VIDEO
- Intellectual Property Facilitation Cell, National Research Development Corporation (under Ministry of Science and Technology) and Department of Defence Production (under Ministry of Defence) signed an MoU.
- To boost Mission Raksha Gyan Shakti- (the mission was launched in 2018 to infuse Intellectual Property culture in Indian Defence manufacturing system).
- West Bengal its 1st ‘Save Water Day’ across the state to increase awareness about water conservation on July 12.
- State already has water conservation programme: Jal dharo Jal bharo (Collect water, store water).
- Kalyani Rafael Advanced Systems (KRAS) has got the $100-million order for manufacturing 1,000 Barak-8 Medium-Range Surface-to-Air Missile (MR-SAM) Missile kits for Indian Army and Indian Air Force (IAF).
- KRAS is a joint venture of Israel’s Rafael Advanced Systems and India’s Kalyani Strategic Systems Ltd.
- Central Government is planning to open a National Police University which will impart education in policing and internal security.
- Gujarat, Rajasthan and Jharkhand already have dedicated universities for conducting courses in police services and internal security.
- 11th Mekong Ganga Cooperation (MGC) Senior Officials’ Meeting 2019 was held in New Delhi.
- MGC (launched in 2000) focusses on expanding cooperation between India and countries of the Mekong (river) region, viz. Cambodia, Laos, Myanmar, Vietnam and Thailand.
- Purpose: – To review the progress of MGC.
- Draft MGC Plan of Action (2019-22) was also discussed for adoption in the 10th MGC Ministerial Meeting in Bangkok on 1 August 2019.
- MGC Quick Impact Project Scheme (QIPS) was launched in 2014 and since then, India’s assistance to Cambodia, Lao PDR, Myanmar and Vietnam (CLMV) is moving at a steady pace.
- Kerala Startup Mission (KSUM) along with Indian Women Network (supported by Confederation of Indian Industry) will host the ‘Women Startup Summit 2019’ at Kochi, Kerala in August.
- Theme of the one-day event is “Developing an Inclusive Entrepreneurship Ecosystem”.
- US India Bilateral Trade Report was released at the 2nd annual leadership summit of US-India Strategic and Partnership Forum (USISPF) held in Washington DC, US.
- The report mentions that trade between India and US could reach $238 billion by 2025 from the current $143 billion, if India grows at 7.5% annually.
- By 2025, bilateral trade could range between $283 billion to $327 billion, at an annual average growth rate of 10% to 12.5% (as witnessed in 2017 and 2018).
- TVS has launched India’s first ethanol-based motorcycle Apache RTR 200 Fi E100 at Rs 1.2 lakh. It is 200cc sports-bike Apache bike.
- It can run on ethanol-based fuel and does not need to be blended with petrol at all.
- The bike will initially be available in Maharashtra, Uttar Pradesh and Karnataka.
- First ever ‘Gandhi Mandela Peace Initiative’ (it is going to be an annual event) was organized by Dr Annurag Batra of Believe Foundation (India) and Tarina Patel of Dr Ramanbhai Patel Foundation (South Africa).
- It celebrates the victory of ‘Love over Hatred’ and celebrate 150 years of Gandhi and 100 years of Mandela’s inspirational lives.
- “Annual Gandhi Mandela Peace Medal 2019”- Zen Master Thich Nhat Hanh was awarded with it, He is a global spiritual leader, poet and peace activist.
- This is the first year of this award which will be held in three parts in New Delhi, Mumbai, and Ahmedabad.
- The first-of-its-kind Global Conference on Media Freedom was hosted by London, UK (being organized by British and Canadian government).
- Themes: – protection and prosecution (including impunity- exemption from punishment for crimes/offences); national frameworks and legislation; building trust in media and countering disinformation media sustainability.
- It was agreed that a new media Global Media Defence Fund, to be regulated by UNESCO, would be established in line with UN Plan of Action on the Safety of Journalists.
- The defence fund will provide legal advice and safety training to journalist (particularly those who go into conflict zones).
BANKING AND ECONOMY
- Government has put over Rs 3.15 lakh crore into public sector banks (PSBs) in the 11 years during 2008-09 to 2018-19.
- In India, Banks are required to keep a minimum ‘capital to risk-weighted assets ratio’ (CRAR) of 9% and all 18 PSBs meet this criteria as of Mar’19.
- PSBs have mobilised Rs 2,81,616 crore of capital through other sources than government, and have posted a net profit of Rs 98,373 crore.
- Wilful defaults worth $21.76 billion (Rs.1.50 trillion) were witnessed by State-owned banks in 2018-19.
- SBI has the highest number of wilful defaults at Rs 461.58 billion, PNB ranks second at Rs.250.9 billion and Bank of India is third at Rs.98.9 billion.
- Gross loans and advances in state-run banks were at Rs 638.2 billion as of March 31, 2019, according to RBI.
- SBI has waived off its charges for RTGS, NEFT and Immediate Payment Service (IMPS) on its YONO app, internet and mobile bankinge.f., 1 August 2019.
4. According to IHS Markit report, India will overtake the UK to become the world’s fifth biggest economy in 2019.
- By 2025, India will surpass Japan to become the third largest with $5.9 trillion GDP.
- Also, the size of the Indian consumer market is forecast to increase from $1.9 trillion in 2019 to $3.6 trillion by 2025.
- India was ranked 77 out of 190 countries that are included on the World Bank’s Ease of Doing Business Index for 2019.
- Apart from this, IHS has forecasted an average 7% per year GDP growth rate for India over the 2019-2023
5. Government has waived off the basic custom duty on uranium ores and concentrates (basic material required to make nuclear power plants).
- India charged duty of 7.50% on uranium ores and 2.50% on uranium concentrates earlier.
- India will increase its installed nuclear power generation capacity to 13,480 MW by 2025 from the current 6,780 MW.
- Budget 2019: – Allocation for nuclear fuels increased year-on-year by 37% to Rs 3,112 crore and for atomic research and development by 10% to Rs 6,264 crore.
6. Assam Gas Company Ltd. (AGCL), Oil India (OIL) and GAIL Gas Ltd. (GGL) signed agreement to set up a new company for implementation of the City Gas Distribution (CGD) network in five districts of Assam.
- National Gas Grid Pipeline (Urja Ganga Project) which was initially planned between Jagadishpur in Western Uttar Pradesh, to Haldia in West Bengal, has now been extended to Guwahati in Assam and this new company will implement it.
- SBI MD- Anshula Kant has been appointed as Chief Financial Officer (CFO) and Managing Director of World Bank.
- She has become the first woman CFO of World Bank.
- Nagarkirtan (Director Kaushik Ganguly’s Bengali film), has won a total of 4 awards at 9th SAARC film festival 2019 held in Columbo, Sri Lanka.
- It won Best Feature Film, Best Original Score awards, Best Director and Best Actor (won by actress Riddhi Sen).
- Another Indian films which won awards are ‘Na Bole Wo Haram’ by director Nitish Patan which won Best Short Film’ award.
- And, ‘Walking With the Wind’ directed by Praveen Morchhale won Special Jury Award for Direction and Story.
- World Tour Platinum Australian Open Table Tennis 2019 held in Australia.
- Bronze: Indian pair of G. Sathiyan and Anthony Amalraj won bronze in Men’s Doubles.
- It is India’s first ever medal in Australian Open, which is a Platinum event.
- Australian Open was organized by International Table Tennis Federation.
- 18th edition of FIFA U-17 World Cup 2019 will be hosted by Brazil in October and November.
- Official Emblem of the U-17 World Cup: –
- India has won total 19 medals, including 12 gold, in the Qasanov Memorial Meet held in Almaty, Kazakhstan.
Gold Medal Winners
Harsh Kumar (400m)
Mohammed Afsal (800m)
Ajay Kumar Saroj (1500m)
Gagandeep Singh (discus throw)
Lili Das (1500m)
Navjeet Kaur Dhillon (discus throw)
Navjeet Kaur (shot put) and women’s 4x100m relay
- Kharchi Puja is the popular annual festival of Tripura.
- Peter James Crouch (an English former professional footballer) has announced retirement.
- Rip Torn (an American actor) has passed away.
- Bastille Day is observed on 14 July every year in France to commemorate the storming of the Bastille on 14 July 1789.
COMPLETE UNION BUDGET HAS BEEN COVERED IN THIS VIDEO: –