Current Affairs for May 27, 2019
BANKING AND ECONOMY
CURRENT AFFAIRS VIDEO
- Ministry of Statistics and Programme Implementation (MoSPI) has approved the merger of Central Statistical Organization (CSO) and National Sample Survey Organization (NSSO) to form the new entity called “National Statistical Office” (NSO).
- Purpose:- To “streamline and strengthen the present nodal functions” and “to bring in more synergy by integrating its administrative functions within the ministry.
- The policy is based on a 2005 decision in the UPA led by Congress regime, following the recommendations of the report of the National Statistical Commission, headed by C Rangarajan.
- The proposed NSO is to be headed by MoSPI secretary.
- A Data Quality Assurance Division has also been set up, replacing the Data Processing Division.
- India has restricted the import of bio-fuels including ethyl alcohol, bio-diesel and petroleum oils for all purposes.
- Now their import will require import licence from the Directorate General of Foreign Trade (DGFT).
- ‘Conditional Cash Transfer (CCT) Schemes and Child Marriages in Andhra Pradesh and Telangana’ report by Tata Institute of Social Sciences (TISS), Hyderabad, in collaboration with NGOs and government departments analysed the potential of CCTs to delay the age of marriage and address discrimination and gender inequality.
- CCTs surveyed here, includes, Kalyana Lakshmi and Shadi Mubarak scheme which was launched in 2014 by Telangana govt and recently adopted by Andhra Pradesh.
- Purpose of scheme – To provide financial assistance for marriages to poor families.
- SpiceJet has become the fourth airline to possess a fleet of 100 aircrafts after adding Boeing 737–NG to its fleet.
- SpiceJet’s fleet includes 68 Boeing 737s, 30 Bombardier Q-400s and two B737 freighters.
- The Great Silence– documentary set in the backdrop of 2018 Kerala floods– is a story of a young girl, Shadia, and her journey during that time.
- It has been written and directed by K.B. Selvamony.
- According to the Supreme Court’s judgement, an employer cannot be forced to pay full back wages to a staff member released of a criminal charge unless the prosecution itself was mala fide (malicious in intent) by a court.
- The court justified that an employee during his imprisonment had not served to the organization, therefore, his acquittal would not entitle him to claim back wages.
- An International Conference against Anti-Semitism will be hosted by Sweden (in Malmo) in memory of the Holocaust in October 2020.
- Anti-Semitism is hostility, prejudice and discrimination towards Jews.
- The Declaration of the Stockholm International Forum on the Holocaust (or “Stockholm Declaration”) is the founding document of the International Holocaust Remembrance Alliance (IHRA).
- China has captured the world’s first image of an albino panda in Wolong nature reserve in Sichuan province.
BANKING AND ECONOMY
- The committee headed by R. Khan recommended changes in the Foreign Portfolio Investment (FPI) to SEBI, which suggests:
Currently, SEBI divides FPIs into three categories
includes foreign central banks, sovereign wealth funds and government agencies
minimal compliances to be met
Includes banks, asset management firms & investment managers
need to fulfil the criteria of being broad-based (more than 20 investors) at all points in time
includes hedge funds
onerous compliance requirements to be met
- RBI has fixed the investment limit for foreign portfolio investors (FPIs) under the Voluntary Retention Route (VRR) at ₹54,606.55 crore.
- RBI in consultation with the Indian Government and SEBI, had introduced the separate channel, called the ‘Voluntary Retention Route’ (VRR), to enable FPIs to invest in debt markets in India on March 1.
- The minimum retention period under VRR is 3 years during which FPIs shall maintain a 75% of the allocated amount in India.
- Wirecard and UTI Infrastructure Technology and Financial Services have partnered to widen the distribution of PAN cards in the country.
- Wirecard has a network of 15,000 retail agents in 350 cities would help collect and scan in the documents that people need to apply for a PAN card.
- Public sector banks (PSBs) have recovered close to Rs 1.2 Tn from stressed assets during FY19, primarily boosted by resolution under the Insolvency and Bankruptcy Code (IBC).
- In FY18, PSBs recovered approx. ₹74,000 crore.
- A single authority for sanctioning and processing GST refunds is going to be set by August this year, as the Department of Revenue (under Ministry of Finance) seeks to simplify the procedures of tax returns for exporters.
- The government has set a disinvestment target of Rs 90,000 crore for 2019-20.
- Ministry of Finance is planning to launch an Exchange-Traded Fund (ETF) consisting of the stocks of PSU banks and financial institutions in 2019-20, following a successful result from the Central Public Sector Enterprises ETF and Bharat-22 ETF.
- It will soon appoint an advisor to explore its feasibility.
- Ministry of Finance is planning to implement the second round of major Public Sector Bank reforms in 2019-20- EASE 2.0 (Enhanced Access And Service Excellence programme).
- Scope: – Consolidation of banks, more strict early warning signals (EWS) to tackle stressed assets, effective coordination in large value loans and bringing in new financial technology players to deepen financial inclusion and digitalisation.
- It is also planning to reconstitute the management committee of the board which takes decisions on large value loans and have representation from risk management.
- General Shailesh Tinaikar, has been appointed as the commander of the UN Mission in South Sudan (UNMISS)- the second biggest peacekeeping operation.
- Himanta Biswa Sarma (President of Badminton Association of India) has been elected Vice-President of the Badminton Asia Council (BAC).
- Raahgiri Day is going to be observed in New Delhi, after a period of 2 years, on last Sunday of every month for the next six-months.
- The event has been organized by Raahgiri Foundation in collaboration with the NDMC and Delhi Police.
- The day is a celebration of car-free and automobile transportation.
- Gurgaon is the first city in India to hold this event in 2013, followed by Delhi.
- Archarya Balakrishan, Patanjali Ayurved’s MD, included in the ‘UNSDG 10 Most Influential People in Healthcare’ 2019.
- ‘UNSDG stands for United Nations Sustainable Development Goals.
- President Donald Trump awarded the President’s Cup to Tokyo Grand Sumo Tournament winner Asanoyama at Ryogoku Kokugikan Stadium, Japan.
- Presidents Cup began in 1994, is presented in golf.
- 72th Cannes Film Festival Awards announced:-
Short Film Palme d’Or
The Distance Between Us and the Sky
Directed by Bong Joon-ho
Directed by Vasilis Kekatos
|Grand Prix||Mati Diop||For Movie – Atlantics|
|Best Director||Jean-Pierre & Luc Dardenne||For Movie – The Young Ahmed|
|Best Actress||Emily Beecham||Little Joe|
|Best Actor||Antonio Banderas||Pain & Glory|
- ICMR head Balram Bhargava wins Dr Lee Jong-wook Memorial Prize 2019 for Public Health at the 72nd World Health Assembly in Geneva.
- Reason: – For his achievements as a clinician, innovator, researcher and trainer.
- This prize (established in 2008) is awarded in recognition of an outstanding contribution to public health.
- India’s Mahesh Mangaonkar has, for the 2nd time, won the Sekisui Squash Open 2019, held in Kriens,
- It is his 8th Professional Squash Association (PSA) title.
- Lewis Hamilton won the Monaco Grand Prix for Mercedes held in Monaco.
- India has won 3 gold medals in the ISSF World Cup Air Pistol/Rifle 2019 being held in Munich, Germany.
- Saurabh Chaudhary, Apurvi Chandela and Rahi Sarnobat have won Gold.
- Nobel-winning physicist Murray Gell-Mann died at 89.
- He won Nobel Prize in 1969 for his work on the theory of elementary particles.
- University of Chicago, U.S. have discovered water remnants belonging to the Ice Age in the rock formation in Indian Ocean.
- The ship, the JOIDES Resolution, can extract cores of rock over a mile long from up to three miles beneath the seafloor.