Current Affairs for July 24, 2019
BANKING AND ECONOMY
CURRENT AFFAIRS VIDEO
- Madhya Pradesh has launched an online portal on pilot basis to allow applicants from tribal people & forest dwellers to check the status of their claims, reviewed under Forest Rights Act 2006, to forest lands at every stage.
- Background: – MP, has till June 30, 3,60,181 (57.49%) rejected claims of people to forest rights out of 6,26,511 claims.
- According to India State of Forest Report, 2017, Madhya Pradesh has the largest number of tribal districts at 24 and the largest forest cover of 77,414 sq. km.
- Uttar Pradesh Private Universities Bill, 2019 has been drafted to bring all the 27 universities in the state under one law.
- The bill also mandates universities to prevent any anti-national activities inside the university campuses.
- Now, strict rules will be implemented for granting permission for setting up colleges/universities.
- Maharashtra Cabinet approved the phase- 1 of the Marathwada water grid project to be built at a cost of ₹4,293-crore to resolve water crisis of Marathwada region.
- This project will create an integrated piped network to supply water for drinking, industrial and agricultural purposes throughout the year in 8 districts of this region.
- Maharashtra had launched the Mission Shakti in 2018 to groom the talented sport persons from remote tribal regions for the 2024 Paris Olympiad.
- Actor Aamir Khan has joined this mission last year and now it is being extended to various region of Maharashtra.
- Andhra Pradesh government passed five bills to empower women, SC, ST, OBC and minorities.
- AP Commission for Backward Classes, other than Scheduled Castes and Scheduled Tribes Bill, 2019;
- AP (50% Reservation to Women in Works Contracts and Service Contracts Given on Nomination) Bill, 2019;
- AP (50% Reservation to Backward Classes, Scheduled Castes, Scheduled Tribes and Minorities in Works Contracts and Service Contracts Given on Nomination) Bill, 2019.
- AP (50% Reservation to Women in Nominated Posts) Bill, 2019, and
- AP (50% Reservation to Backward Classes, Scheduled Castes, Scheduled Tribes and Minorities in Nominated Posts) Bill, 2019.
- Kempegowda International Airport (KIA)- operated by BIAL (Bangalore International Airport Ltd) has initiated the paperless biometrics based self-boarding facility as part of the Aviation Ministry’s Digi Yatra project (2018).
- It was first applicable for Vistara passengers flying from Bangalore to Mumbai, and soon will be integrated to all Vistara flights.
- Ministry of Defence has increased the number of awards given to cadets of National Cadet Corps (NCC) from 143 to 243 and also increased cash incentives.
- The term of 15th Finance Commission (headed by N K Singh) has been extended till Nov 30 to suggest funding mechanism for defence.
- Supreme Court has cancelled Amrapali Group’s registration under the ‘Real Estate (Regulation and Development) Act, 2016’.
- Reason: – Charges of money laundering, diversion of funds and delay in providing houses.
- Lok Sabha passed the Motor Vehicles (Amendment) Bill, 2019 which proposes a National Transportation Policy for regulating transportation rules.
- However, it is up to the States if they want to make their transport system more modern and efficient.
- National List of Essential Medicines (NLEM) committee, headed by Balram Bhargava, will shortlist essential medicines on which the price control will be applied.
- The shortlisted drugs will be included in the schedule 1 of DPCO (drug price control order).
- The committee will also review the NLEM 2015.
12. Central Reserve Police Force (CRPF) has revealed India’s first prototype of a body protector for women officers (fighting in combat).
- Organizer: – It has been jointly developed by Defence Research and Development Organisation and CRPF.
- United Nations Climate Summit will take place in New York in September 2019.
- Clean Air Initiative: – UN had launched it to improve air quality and reduce pollution by 2030.
BANKING AND ECONOMY
- International Monetary Fund (IMF) in its World Economic Outlook July update, has reduced India’s growth forecast for 2019-20 to 7% (7% in 2019 and 7.2% in 2020) from its forecast in April of 7.3% for 2019-20.
- Reason: – Poor demand conditions.
- India’s growth forecast in 2020-21 has also been cut to 7.2% from 7.5%.
- Global GDP growth rate: – 3.2% in 2019, and 3.5% in 2020 (0.1% lower than April’s forecast)
- Ministry of Finance has extended the time period by 1 month for doubling the money invested in Kisan Vikas Patra (KVP) to 9 years and 5 months from earlier 9 years 4 months.
- The change is in line with the amendment to the Kisan Vikas Patra Rules, 2014.
- Interest rate on KVP is 7.6% for September quarter, against the 7.7% in the April-June period.
- A study conducted by IBM Security in association with Ponemon Institute has shown that ₹12.8 crore loss (a 29% increase from previous year) has been incurred by Indian enterprises due to data breaches during the first half of 2019.
- ₹5,019 loss was incurred by each employee due to lost data or stolen record, an increase of 9.76% from the previous year.
- The study was conducted on 45 enterprises.
- Indian Overseas Bank (IOB) projected a net loss of Rs 342.08 crore in the Q1 of FY20, against the Rs 919.44 crore during the same period.
- NPAs of IOB: – 53% (Rs 33,262 crore) of the gross advances at the end of June 2019, as against 25.64% (Rs 38,146 crore) in the previous year.
- Bad Loan recovery: – Rs 2,238 crore during the June quarter, against Rs 3,389 crore in the previous year.
- National Payments Corporation of India (NPCI) and Japan Credit Bureau (JCB) International launched “RuPay JCB Global Cards”.
- The card will be accepted in India at all POS terminals and ATMs that accept JCB cards.
- LIC will offer Rs 1.25 trillion line of credit to fund highway projects for implementation of the Rs 8.41 trillion Bharatmala project by 2024.
- “Digital Payment Report”, released by Worldline, mentions that the number of Point of Sale (PoS) terminals has increased by 18.6% in Q1 of 2019 as compared to Q1 of 2018.
ATM number remains the same at 0.2 million.
Micro ATM transactions increased by 135% during April 2018- June 2019.
33 million transactions worth Rs 8,774 crore were recorded in June 2019.
RuPay cards transactions increased by 6% between Apr. 2018- June 2019.
Rupay transactions at PoS terminals 61 million worth Rs 8,723 crore in June 2019.
All this indicates that, in rural India, cash is still preferred more than the ATMs for day-to-day transactions.
- Maharashtra has recorded the highest number of ATM frauds with 223 cases worth about Rs 4.81 crore in FY18-19, according to RBI’s data.
- Tamil Nadu is 2nd, with Rs 3.63 crore worth of losses and Delhi recorded Rs 2.9 crore losses in 179 cases.
- At national level, cases rose to 980 in FY18-19 from 911 in FY17-18. Assam, Arunachal Pradesh & Tripura were the only ones with no ATM frauds.
- While the volume of cases rose, the amount lost in such incidents decreased to Rs 21.4 crore in FY18-19, from Rs 65.3 crore in FY17-18.
- Dejan Papic has been appointed as the head coach of National Table Tennis Team on a one-year contract.
- RBI has chosen deputy governor B.P. Kanungo to run the monetary policy and economic research portfolio after the resignation of deputy governor Viral Acharya.
- Ehsan Mani (Pakistan’s Cricket board chairman) has been appointed as the head of ICC’s Finance & Commercial Affairs committee.
- ICC Chairman: – Shashank Manohar.
- National Broadcasting Day was observed on July 23 across India.
- On July 23, 1927, Indian Broadcasting Company made the first ever radio broadcast in the country on air from the Bombay Station.
- Ian Taylor has won the New Zealand Trade Me Innovator of the Year 2019.
- He is the founder of Animation Research Limited (ARL), a computer graphics production facility.
- England and Australia will play the series of Test cricket matches- Ashes Series 2019 (officially known as Specsavers Ashes Series for sponsorship reasons) in England.
- Federation Cup 2020 will be hosted by the Pondicherry Basketball Association (PBA) in January 2020.
- John Isner won the 44th edition of Hall of Fame Tennis Championships 2019 held at the International Tennis Hall of Fame in Newport, Rhode Island, USA.
- Shiva Thapa has won the first gold medal at the Kazakhstan President’s Cup Boxing Tournament 2019 in the 63kg category.
- Women’s category winner: – Praveen.
- Chou Tien Chen (Taiwan) won the men’s singles at Indonesia Open 2019 held at Jakarta, Indonesia.
- Akane Yamaguchi (Japan) won women’s singles.
- Vivek Kohli has been elected as chairman of the Commonwealth Table Tennis Federation (CTTF).
- M P Singh has been appointed as the secretary-general.
- Nigeria will host FIFA women U-20 World cup 2020.
- India will host the FIFA U-17 Women’s World Cup 2020.
- Li Peng (a Chinese politician who served as the fourth Premier of the People’s Republic of China from 1987 to 1998) has passed away.
- He was the leader in Tiananmen crackdown.
- On 20th anniversary of Kargil Diwas (July 26), a Coffee table book titled ‘Fire and Fury Corps– Saga of Valour, Fortitude and Sacrifice,’ was released in Leh, Kashimir.
- The books pays homage to the Fire and Fury Corps who protect the LoC and Line of Actual Control (LAC) in Ladakh region of J&K.
- Ramanujan Machine has been created by Technion – Israel Institute of Technology to honour the mathematician (Srinivas Ramanujan) of the 20th century.