Current Affairs for May 24, 2019
BANKING AND ECONOMY
CURRENT AFFAIRS VIDEO
- Bharatiya Janata Party has won the 17th Lok Sabha Election 2019 with 303 seats out of 542 costituencies.
- National Democratic Alliance (NDA) is a coalition of right-wing political parties led by BJP.
- ISRO’s commercial arm NewSpace India Limited (NSIL) inaugurated in Bengaluru.
- Purpose: – To scale up industry’s participation in Indian space programmes by commercially utilising research and development activities carried out by ISRO.
- It will produce Small Satellite Launch Vehicle (SSLV) and Polar Satellite Launch Vehicle (PSLV) through technology transfer mechanisms.
- Defence Research and Development Organisation (DRDO) successfully test fired a 500kg class guided bomb developed indigenously, from the Su-30 MKI Aircraft at Pokhran in Rajasthan.
- US, Japan, Australia and South Korean naval forces conducted their first joint exercise-“Pacific Vanguard Exercise”- near the US Island Guam in the Western Pacific ocean.
- Algeria and Argentina have been declared ‘Malaria-free’ countries by WHO with no cases of malaria being recorded since 2013 and 2010 respectively.
- Now there are 38 WHO declared Malaria free countries.
- Malaria is caused from the bite of female mosquito Anopheles.
- According to WHO, India had recorded approx. 9.5 million malaria cases in 2017.
- World Health Organization suggested a new strategy aimed to half the deaths and injuries from snakebites by 2030, intimating that lack of antivenoms could soon spark a “public health emergency”.
- According to WHO, nearly 3 million people are bitten by poisonous snakes every year, with estimated 81,000-138,000 deaths. Another 400,000 survivors suffer permanent disabilities and other after-effects.
- International Labour Organisation (ILO) report “Women in Business and Management: The business case for change” (1919-2019) assessed how gender diversity policies impact business outcomes.
- The survey was conducted in approx. 13,000 enterprises across 70 countries.
- In India, over 70% of enterprises report that initiatives on gender diversity and equality have improved business outcomes.
BANKING AND ECONOMY
- SEBI has also announced the launch of Regulatory Sandbox for Fintech startups.
- Sandbox is a tool that facilitates fintech players to live test their products before getting the necessary regulatory approvals for a mass launch.
- Asian Development Bank (ADB) has signed a pact with Indian Railway Finance Corporation (IRFC) to provide $750 million loan for railway track electrification project.
- This is the largest ever single non-sovereign loan being committed to IRFC by ADB.
- Railway Track Electrification will reduce dependence on fossil fuels.
- UN’s World Economic Situation and Prospect (WESP 2019) Mid Year Update has downgraded global growth rate to 2.7 and 2.9 for 2019 & 2020 respectively (from 3% predicted in January for each year) owing to the rising trade tensions.
- ICICI Bank has entered into an agreement with BSE to buy stake in BSE’s subsidiary India International Exchange (INX) for Rs 31 crores.
- Investment will be for 9.9% stake at a cash consideration of up to Rs 305 million.
- A High-Level Committee formed by Centre government has submitted its suggestions to Ministry of Petroleum and Natural Gas to reduce India’s dependence on crude oil imports.
- It suggested the formation of new entity to deal with oil services and supply of qualified manpower to the Oil and Gas sector around the world.
- HDFC Group has superseded Tata Group to become the India’s most valuable company in terms of market capitalization.
7. Reliance Capital has signed an agreement to sell its entire stake in the Reliance Nippon Life Asset Management Ltd.(RNAM) to its foreign partner Nippon Life Insurance at Rs 230 per share deal.
- According to UNESCO’s recent analysis, women participation in the STEM (Science, Technology, Engineering, Maths) areas has been low which can widen the gender gap in STEM areas in near future.
- A total 29% women are in science research and development, with a low 19% in south and west Asia and a high 48% in central Asia.
- To improve women participation in STEM, UNESCO had launched a campaign STEM and Gender Advancement (SAGA) in 2015.
- RBI has issued a draft circular “Liquidity Risk Management Framework for Non-Banking Financial Companies (NBFCs) and Core Investment Companies (CICs)” for NBFCs with an asset size of Rs 100 crore and above, and all CICs registered with RBI.
- Purpose: – To promote liquidity resilience of NBFCs.
- May 23 is observed as the International Day (to End) Obsteric Fistula by UN.
- Obstetric fistula is a hole between the birth canal and the bladder or rectum caused by prolonged, obstructed labour without treatment.
- In India, the data of District Level Household and Facility Survey-3 (2007-2008) suggest:
- Former PepsiCo chairman and CEO Indra Nooyi has been awarded an honorary degree by the University of Yale.
- Greenwich Historical Society to honor Nooyi with its History in the Making Award 2019.
- Ankur Patwardhan has won the ‘German Conference Prize’ at the 4th Green and Sustainable Chemistry Conference in Germany.
- His project ‘Butterfly attractant for pollination and ecosystem health’ won the second prize in the ‘Elsevier Foundation-ISC3 Green and Sustainable Chemistry Challenge’ at the Conference in Germany.
- Bharti AXA Life Insurance has won the ‘Claims Excellence Award’ given by Federation of Indian Chambers of Commerce and Industry (FICCI).
- Reason: – For its customer-friendly claims services, including dedicated claims handler and one of the best claim settlement ratios, in the life insurance sector.
- Hema Divakar has been conferred the title of ‘Global Asian of The Year 2018-19 ’ at The Asian Business and Social Forum 2019 under ‘Service of the society and the Nation’ category from UAE’s Trade Promotion Director Mohammed Naser Hamdan Al Zaabi.
- Reason: – For her contributions to the health ecosystem and women healthcare.
- Mary Kom (51kg women) and Shivva Thapa (60 kg men) won Gold medals at the 2nd India Open boxing tournament, held at Karmabir Nabin Chandra Bordoloi AC Indoor Stadium in Assam.
- International Olympic Committee’s (IOC) executive board intends to suspend International Boxing Association-amateur (AIBA) and seeks to establish a task force to organize the boxing competitions, including the qualification events.
- Reason: – Messed up finances and governance of AIBA is the major reason, according to IOC.
- 7th king of Malaysia Sultan Ahmed Shah Sultan Abu Bakar passed away at 88.