Current Affairs for July 25, 2019
BANKING AND ECONOMY
CURRENT AFFAIRS VIDEO
- Andhra Pradesh has become the first state in India to pass the ‘A.P. Employment of Local Candidates in Industries/Factories Bill’ 2019 to allow 75% quota for local youth in jobs in all industries and factories and train eligible candidates for bridging the skill gap.
- Delhi government has proposed to legalize 1,797 unauthorised colonies in Delhi by giving ownership rights to residents.
- Biju Janata Dal won the Odisha’s Patkura Assembly constituency for which election was held on July 20 after being postponed twice in the last few months.
- Karnataka Debt Relief Act, 2018, which will provide a one-time waiver to farmers who had borrowed from moneylenders has been announced.
- The act orders for the pledged items such as gold and land documents to be returned and makes null and void any loans taken from non-institutional sources.
- Kerala Agricultural University (KAU) will set up a ‘Centre for Advanced Agricultural Science and Technology’ at ₹24.73-crore for increasing knowledge in secondary agriculture of coconut.
- Indian Council for Agricultural Research (ICAR) will provide ₹19.73 crore under the National Agricultural Higher Education Programme. And state govt. will provide Rs 5 crore.
- ICAR is an independent body responsible for co-ordinating agricultural education and research in India.
- Pradhan Mantri Laghu Vyapari Maan-dhan Yojana 2019 (pension scheme for small traders and retailers) has been announced by PM Modi during his first cabinet meeting in June and now the scheme is being implemented on a trial basis.
[DETAILS OF THE SCHEME HAVE BEEN DISCUSSED IN JUNE SPOTLIGHT: –
- National Institute for Medical Statistics of Indian Council of Medical Research (ICMR) (ICMR-NIMS), in association with Population Council, launched the ‘National Data Quality Forum’ (NDQF).
- Function of NDQF:- It will help in establishing the protocols and improve data collection practices, storage, use and dissemination of health and demographic data.
- The Group of Ministers on Me too has been reconstituted and is now headed by Home Minister Amit Shah to strengthen legal frameworks against sexual harassment at workplace.
- National Institute of Miners’ Health (under the Ministry of Mines) was dissolved and merged into Indian Council of Medical Research-National Institute of Occupational Health (ICMR-NIOH), Ahmedabad.
- ICMR-NIOH operates under the Ministry of Health & Family Welfare.
- Cabinet has approved to keep a buffer of sugar of 4 million tonnes (MT) at a cost of Rs 1,674 crore.
- Estimated production of sugar is 32.95 MT in the current marketing year, as against the annual domestic demand of just 26 MT.
- Fair and Remunerative Price (FRP) has been kept constant at ₹275 a quintal for the next sugar marketing year, starting from October, on the recommendation of Commission on Agricultural Costs and Prices.
- FRP is decided under Sugar cane (Control) Order, 1966.
- Dragon tree species named as “Dracaena cambodiana” has been discovered, for the first time, in India (in West Karbi Anglong area of Assam).
- The study was published in the Journal of Botanical Research Institute of Texas.
- This species is mostly native to Africa, with a few in southern Asia to northern Australia with two species in tropical Central America.
- International Shark Meet 2019 has been organized by UN- Food and Agriculture Organisation (FAO) and Central Marine Fisheries Research Institute (CFRMI) in Kochi, Kerala.
- Purpose: – To increase the fish production and focus on to keep a check on shark and ray trade.
- One Chetak helicopter has been delivered to Indian Navy by Hindustan Aeronautics Limited (HAL) ahead of its scheduled month of august.
- In 2017, Indian Navy and HAL signed agreement to produce 8 chetak helicopters by August 2020. (2 out of which needs to be delivered in August 2019)
- Wipro has launched its project compliance lab in Hyderabad, Telangana to help customers in defence, consumer electronics, Aerospace, Telecom, medical energy etc.
- The project is a part of Tarang lab (an independent product qualification lab of Wipro).
- Indian Space Research Organisation (ISRO) will launch the Aditya-L1 (its first solar mission) in the first half of 2020.
- Aditya-L1 will study the sun’s corona.
- Himachal Pradesh has declared monkey (Rhesus Macaque) as vermin under the Wildlife (Protection) Act 1972.
- Vermin = wild animals that are believed to be harmful to crops, farm animals.
- The notification allows the local authorities to kill this animal in certain identified non-forest areas in Shimla for one
- Rhesus Macaque are protected species under Schedule II of Wildlife Act, but by declaring it ‘vermin’ for a specific period, the local authorities get power to kill it, if it poses a danger to human life or property.
- Madhya Pradesh passed the “Public Service (Reservation for SC, ST and OBC) Amendment Bill 2019” to increase reservation in government jobs and education for OBC to 27% from the present 14%.
- Gujarat is the top state in the country with total 261.97 megawatts (MW) of installed rooftop solar capacity as on July 23, 2019, followed by Maharashtra (at 198.52 MW) and Tamil Nadu (151.62 MW).
- As per the Central government data, total rooftop solar installations in India is 54 MW.
- Government has set a target of installation of 40,000 MW of Rooftop Solar (RTS) projects by the year
- Financial aid of Rs 446.77 crore was provided during 2018-19 under the Grid-Connected Rooftop Solar programme.
- “UKEIRI Mobility Programme: Study in India” has been jointly launched by India and UK. (UKERI stands for ‘UK-India Education Research Initiative).
- Purpose: – To support Britain’s universities to collaborate with Indian universities to send UK students to India during their studies.
- It is an initiative of Universities UK International (UUKI) and British Council India.
- The programme will increase the levels of outward student mobility from the UK to 13% by 2020, as set out in UUKi’s “Go International: Stand Out” campaign.
- Reliance Industries (RIL) has been ranked at 106 (up by 42 positions) and became the top-ranked Indian company in the latest Fortune Global 500 list.
Top 5 Companies
- BRICS summit will take place in Brasilia, capital of Brazil during November 2019.
2. Bangladesh has developed a technique to convert Jute fiber into low-cost Biodegradable cellulose sheets (that are highly re-cyclable) named as “Sonali”/Golden Bags.
- Developer:-Bangladesh Jute Mills Corporation (BJMC) led by Mubarak Ahmed Khan.
- India is the largest producer of Jute in the world.
- International Union for Conservation of Nature (IUCN) has updated its Red List of Endangered Species and included a rare snail found at only three spots in the Indian Ocean.
- It is the first species to be officially declared threatened due to deep-sea mining.
- The scaly-foot snail (Chrysomallon squamiferum), also known as Sea Pangolin, is found at three hydrothermal vents in the Indian Ocean, east of Madagascar.
BANKING AND ECONOMY
- 12th edition of “The Global Innovation Index 2019”, ranks India at 52nd position (a 5 place jump from 57 position in 2018).
- Total 129 countries were ranked based on 80 indicators.
- The report also mentions that top science and technology clusters are in USA, China, and Germany, while Brazil, India, Iran, the Russian Federation, and Turkey also feature in the top 100 list.
- The index has been co-published by Cornell University, INSEAD, and the UN- World Intellectual Property Organization.
- Bloomberg’s “New Economy Global Survey” claims that India and China will become the World Centre’s for Tech-Innovation by surpassing USA by 2035.
- Tata Motors Ltd.’s long-term issuer default rating (IDR) has been downgraded to ‘BB-’ from ‘BB’ (indicating a negative outlook) by Fitch Ratings.
- Foreign Portfolio Investors have withdrawn around ₹7,712 crore from Indian equities in July after the hike in surcharge in the budget for 2019-20.
- Foreign portfolio investors (FPI) invested ₹9,371.12 crore in the debt segment during this period.
- This means that ₹1,659 crore has been translated into a net investment into the capital markets (both equity and debt) in July so far.
- Fintech firm Zeta and Sodexo Benefits and Rewards Services (BRS) India have merged their corporate and meal benefits operations into a single entity.
- Sodexo India is the subsidiary of French meal benefits giant Sodexo.
- ICRA Credit rating agency has downgraded ratings on Yes Bank’s ₹32,911.7 crore bond, because of increase in NPA and lack of debt resolutions.
- The rating on bonds aggregating ₹22,111.7 crore were downgraded by one point, while that on ₹10,800 crore of additional tier I (AT-I) bonds were downgraded by two points.
- The rating for these AT-I bonds (BBB+) is three notches lower than the rating for the Basel III compliant tier II bonds (A+).
- According to Automobile Component Manufacturers Association of India, the automobile component manufacturing industry saw a 10-15% job losses.
- Overall growth in turnover in this sector fell by 14.5% to Rs 3.95 trillion in FY19.
- WhatsApp has partnered with the Indian School of Public Policy (ISPP) to organise design workshops for the students of the institute.
- Aim: – To make the students aware about privacy-centric design in technology.
- TTC Labs (founded by Facebook) will co-organize the workshops.
- Kishen Mangaldas Narsi has been appointed as the Chairman of Asian Boxing Confederation’s (ASBC) competitions commission.
- ASBC President: – Anas Naser Al Otaiba.
- Central Board of Direct Taxes (CBDT) observed 159th Income Tax Day/AaykarDiwas on 24th July, 2019.
- History: – On 24 July 1860, Income Tax was introduced for the first time in India by Sir James Wilson.
- CBDT also launched “Kardaata e-Sahyog Abhiyaan” to help taxpayers and other stakeholders in e-filing their returns and other tax related obligations.
- Musicians Parassala B. Ponnammal and T V. Gopalakrishnan were awarded the ‘Nishagandhi Sangeetha Puraskaram’ at the music festival Nishagandhi Monsoon Ragas, Kerala.
- Kristof Milak (a Hungarian teenager) has broken the 10 year old world record of Michael Phelps’ in the 200 metres butterfly at FINA World Swimming Championships held in South Korea.
- Milak won gold in a time of 1:50.73,and Phelps’ record was 1:51.51, set in Rome in 2009.
- India’s blind cricket team will play against West Indies Blind cricket team in the three ODIs and two T20Is match series in Jamaica.
- It is the first time that Indian blind cricket team is visiting Jamaica for a tour.
- ICC released rankings for test matches (as of May 2019).
- Best Team: – India
- Best Batsman: – Virat Kohli
- Best Bowler: – Pat Cummins (Australia)
- Best All-Rounder: – Jason Holder (West Indies)
- Abhay Singh and Tanvi Khanna won the 6th edition of Bengal Open Squash Tournament 2019 held in Kolkata.
- “Chandra Shekhar – The Last Icon of Ideological Politics” book on former PM Chandra Shekhar, has been written by deputy chairman of Rajya Sabha Harivansh and co-author Ravi Dutt Bajpai.
2. Sri Lankan cricketer Nuwan Kulasekara has announced retirement from International cricket.
- Solomon Farai Mire (Zimbabwe cricketer) announced retirement from International matches across all formats.
- Milky Way galaxy has eaten up the dwarf galaxy Gaia-Enceladus roughly 10 billion years ago, to gain its present mass.
- Carme Gallart is the lead author of the research published in Nature Astronomy.
- The Sky Is Pink (movie directed by Shonali Bose) will have its world premier at the 44th Toronto International Film Festival in September 2019, in Canada.
- Maxim Dadashev (Russian boxer) has passed away.