November 2, 2018

CLICK HERE TO ATTEMPT DAILY QUIZ FOR FREE

NATIONAL NEWS

 

  1. The Union Cabinet approved renaming of Jharsuguda Airport which is in Odisha as “Veer Surendra Sai Airport, Jharsuguda”.
    • Veer Surendra Sai is a well-known freedom fighter of Odisha.
  1. The Ministry of Road Transport & Highwaysmandated that all new public service vehicles except auto rickshaws and e-Rickshaws, registered on and after 1st January 2019 to be equipped with Vehicle Location Tracking ( VLT ) with emergency buttons.
    • The step has been taken to ensure safety for passengers especially women.
    • For older vehicles, last date for installation would be notified.
    • The details of each VLT device will be uploaded on the VAHAN database by the VLT device manufacturer.
  1. Prime Minister Narendra Modi will announce new measures for improving fund availability for
    • This will include a new online facility where MSMEs will be able to avail loans of up to ₹1 crore in less than an hour.
    • According to information available with the MSME ministry, there are more than 63 million such enterprises engaged in manufacturing, services and trade, more than half of which are in rural areas.
    • These entities account for about 110 million jobs and contribute about 29% of the country’s economic output.
    • The data is based on the 73rd round of the National Sample Survey conducted in 2015-16.
  1. A total of 461 elephant died due to electrocution occurred in the eight years between 2009 and November 2017.
    • Karnataka has the highest population of elephants and has recorded the highest casualties by electrocution, numbering 106.
    • While 17 elephants died in Kerala, in Tamil Nadu, the number of deaths in the same period was 50.
    • The data has been sourced from the Ministry of Environment, Forest and Climate Change (MOEFCC).

  1. India is hosting two key meetings in New Delhi with a group of countries called the LMDC, the ‘Like Minded Developing Countries’ (India, China, Venezuela and Iran) and BASIC (Brazil, South Africa, India, China).

 

  1. The Similipal Tiger Reserve and sanctuary in Odisha’s Mayurbhanj district re-opened for visitors after remaining closed for four-and-half-month.

 

  1. The world’s oceans have absorbed 60% more heat than previously thought over the last quarter of a century, scientists, leaving Earth more sensitive still to the effects of climate change.
    • According to most recent assessment this month, scientists from the Intergovernmental Panel on Climate Change (IPCC) said that the world’s oceans have absorbed 90% of the temperature rise caused by man-made carbon emissions.
    • A team of U.S.-based scientists focussed on two gases found naturally in the atmosphere — Oxygen and Carbon Dioxide.
    • Both gases are soluble in water, but the rate at which water absorbs them decreases as it warms.

 

INTERNATIONAL NEWS

 

  1. India and China agreed to undertake joint research in the areas of WTO reforms, urbanisation and frontier technologies with a view to enhancing economic cooperation between the countries.

 

  1. The US government withdrew GSP (Generalized System of Preferences) benefits to India worth $70 million on as many as 50 items.
    • These are products that have gained competitiveness as their imports under GSP are more than 50% of the total import of the product by the US.
    • Some prominent Indian products removed from the duty-free provisions of the GSP include dried pigeon pea seed; areca nuts; turpentine gum; mangoes, prepared or preserved by vinegar or acetic acid; sandstone, merely cut into blocks or slabs of a rectangular (including square) shape; tin chlorides; barium chlorides; salts and esters of tartaric acid, nesoi; and trimethyl phosphite.
    • Generalized System of Preferences (GSP) is a preferential tariff system extended by developed countries (also known as preference giving countries or donor countries) to developing countries (also known as preference receiving countries or beneficiary countries).
    • It involves reduced MFN Tariffs or duty-free entry of eligible products exported by beneficiary countries to the markets of donor countries.

 

 

BANKING AND ECONOMY

 

  1. SEBI will launch Unified Payments Interface as an alternative payment option for retail investors, buying shares in a public issue, in a phased manner from 1 January next year.
    • It will cut listing time for an IPO to three days from six at present.
    • UPI is an instant payment system developed by the National Payments Corporation of India (NPCI).
    • It allows instant transfer of money between any two person’s bank accounts using a payment address which uniquely identifies a person’s bank account.
    • SEBI has decided to introduce the use of UPI as a payment mechanism with Application Supported by Block Amount (ASBA) for applications in public issues by retail investors through intermediaries.
    • Thereafter, for applications by retail investors through intermediaries, the existing process of physical movement of forms from intermediaries to Self-Certified Syndicate Banks (SCSBs) for blocking of funds will be discontinued and only the UPI mechanism with existing timeline of T+6 days will continue, for 3 months or floating of 5 main board public issues, whichever is later.
  2. Tata Consultancy Services (TCS) acquired design company W12 Studios for an undisclosed sum, the Indian technology leader’s first digital buyout that should help the country’s most valuable company get a bigger share of the global digital marketing spend.

 

  1. Goods and Services Tax (GST) collections crossed the psychological barrier of ₹1 lakh crore in October coming in at ₹1,00,710 crore.
  2. Non-Resident Indian (NRI) deposits jumped to $5.7 billion in the first five months of this fiscal compared to $0.5 billion in the same period last year.
    • The rise is attributed to the sliding rupee, which makes deposits in the currency attractive for NRIs, and to higher oil prices which have prompted inflows from NRIs in the Middle-east to increase.
    • Non-Resident (External) Rupee Account was the main contributor at $4.1 billion compared to $1.7 billion during the same period of the previous year.
    • These deposits are freely repatriable and tax free.
    • The UAE is the top source of inward remittances into India, with Kerala receiving the maximum funds sent from abroad, according to the RBI’s survey of inward remittances for 2016-17.

 

 

AWARDS

 

  1. Satyajit Ray’s epic masterpiece ‘Pather Panchali’ has been included by BBC’s 100 Best Foreign Language Films but it is the only film from India to feature in the list.
    • Ray’s film, released in 1955 and the first in his ‘Apu’ trilogy, was placed at number 15 in the list, which has been topped by Akira Kurosawa’s ‘Seven Samurai’.

 

SPORTS

  1. Qatar will host the 23rd edition of the World Corporate Games between 6 and 9 November 2019.
    • This event will be an opportunity for corporations throughout the world to exhibit their competitiveness through sports.