Current Affairs for May 28, 2019
BANKING AND ECONOMY
CURRENT AFFAIRS VIDEO
- On the International Day of Biodiversity on May 22, Chennai has launched the tree ambulance, on the proposal of ‘Green Man of India’ K Abdul Ghani.
- The project is being sponsored by the SASA Group.
- Purpose: – The ‘ambulance’ will take tree experts to various parts of the city to revive and hopefully even replant hundreds of uprooted trees.
- Over 25 States have missed the April 30 (set by NGT) deadline for submission of their action plans on disposal of plastic waste under to Central Pollution Control Board (CPCB).
- Subsequently, these states may have to pay a fine as environment compensation of ₹1 crore
- States were required to submit the action plan under Plastic Waste Management (PWM) Rules 2016, as amended, 2018.
- Except Sikkim, West Bengal, Andhra Pradesh and Puducherry, 25 states and UTs were given a deadline to submit an action plan, or else face the penalty.
- Indian Army has imposed new restrictions on buying cars from CSD (Canteen Store Department) Canteens.
- Now, the officers can buy cheaper cars (up to 2500 cc) from CSD canteens valued up to Rs 12 lakh excluding GST once in 8 years w.e.f. June 1.
- As per the new order, jawans would be allowed to buy cars once during their regular service and once after retirement worth around Rs 6.5 lakh including GST.
- Reason: – To cut down CSD Canteens’ expenditure on procurement of cars.
- Madhya Pradesh’s “Orchha” town has been included in tentative list of the World Heritage Sites of UNESCO.
- Orchha is rich in ancient architecture of Chaturbhuj Temple, Orchha Fort Complex, Raja Mahal, two elevated minarets – Saavan and Bhadon; and four palaces – Jahangir Palace, Rai Praveen Mahal, Raja Mahal, and Sheesh Mahal among others.
- It has ‘Sri Ram Raja Mandir’– only place in India where Lord Ram is worshipped as a King, not as a deity.
- According to TRA Research (consumer-insights company), Virat Kohli is India’s most trusted sports personality 2019.
- Kohli has 100m followers on social media, which makes him India’s most followed sportsperson and the world’s most followed cricketer on social media.
Most Trusted Personality 2019
Bollywood Actor (Male)
Bollywood Actor (Female)
South Indian Actor
- India has been elected to the “Executive Board” of the first United Nations Human Settlements Programme (UN-HABITAT) Assembly held in Nairobi, Kenya.
- UN-Habitat is the coordinating agency within the United Nations System for human settlement activities and is responsible for implementation of the Sustainable Development Goals (SDGs), in particular, Goal 11 of “Making cities and human settlements inclusive, safe, resilient and sustainable”.
- Theme for the UN-Habitat Assembly is “Innovation for Better Quality of Life in Cities and Communities”.
- India has invited the leaders of BIMSTEC Member States for the swearing-in ceremony of Prime Minister Narendra Modi on May 30 in line with the Neighbourhood first and Act East policy.
- BIMSTEC stands for ‘The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation’.
- Apart from BIMSTEC members, Sooronbay Jeenbekov (Kyrgyzstan’s President) and Pravind Jugnauth (Mauritius Prime Minister) are also invited.
- India has set up a tribunal for adjudicating whether or not there is sufficient reason to continue the ban on the Liberation Tigers of Tamil Eelam (LTTE) group.
- DRDO successfully test fired indigenously developed Akash-1S surface to air defence missile system which has the capability to neutralise aerial targets such as fighter jets, cruise missiles and air-to-surface missiles and ballistic missiles, off the Odisha
- It is the new version of the Akash missile which is fit with an indigenous seeker, developed as part of the Integrated Guided-Missile Development Programme (IGMDP).
- It is the 2nd successful missile test conducted by DRDO in last two days.
- Other IGMDP missiles are Nag, Agni, Prithvi and Trishul.
- Indian Air Force (IAF) paid tribute to the IAF personnel killed during the ‘Operation Safed Sagar’ in 1999 Kargil war.
- Air Chief Marshal S. Dhanoa led a group of four Mig-21 aircraft that flew in a “missing man” formation (air salute) in the sky.
- Prem Singh Tamang, alias P S Golay sworn in as the 6th chief minister of Sikkim by Governor Ganga Prasad.
- Before Tamang, Pawan Chamling of Sikkim Democratic Front (SDF) was the CM of Sikkim for 25 years (longest serving time as a CM in an Indian state).
- Karnataka is going to have 4 new wildlife sanctuaries as Kappatagudda Wildlife Sanctuary, Kammasandra Wildlife sanctuary, Bukkaptana wildlife sanctuary and also the extension of Guddekote wildlife sanctuary would be taken up this year.
- Kerala will impose a 1% Flood cess on most goods and services in the state from 1 June to raise funds for rebuilding the state from the destruction caused 2018 floods announced in FY20 state budget.
- It will not be levied on small traders (with an annual turnover of less than Rs 1.5 crore) or on goods with GST rate of 5% or below.
- 25% cess will be levied on gold products.
- The expected additional revenue is of Rs 600 crore.
- India is going to launch the Social & Labor Convergence Program (SLCP) for the textile industry.
- SLCP is an initiative to eliminate audit fatigue by replacing current proprietary tools with a standard-neutral Converged Assessment Framework.
- SLCP aims to improve working conditions by allowing resources that were previously designated for compliance audits to be redirected towards the improvement of social and labour conditions.
- Delhi government amended the “Unified Building Bye-Laws (UBBL) for Delhi 2016” for commercial buildings (in the wake of Surat fire tragedy) to include the fire-safety changes which includes: –
Banning of kitchens and cooking in rooftops and basements of commercial buildings
No storage of inflammable materials on rooftops
No temporary roofing over the roof or terrace using fibre reinforced plastic (FRP) or any inflammable material will be allowed
Should Have carbon monoxide detectors in all rooms
Should Have doors with fire-resistance rating
Fire NOC for guest houses will not be issued to buildings, with more than four floors (excluding basement and stilt floor)
- Speedtest Global Index by Ookla Speedtest company has ranked India at 121 in the mobile speed and 68 in fixed broadband speed in April 2019.
Top 5 countries in Fixed Broadband speed
Top 5 countries in Mobile speed
- Regional Comprehensive Economic Partnership (RCEP) inter-sessional meeting was held in Bangkok,
- The key agenda discussed in the meet was reduction in the tariffs of steel and aluminium imports in India.
2. Rosatom (Russia’s nuclear energy agency) has launched world’s largest nuclear-powered ice breaker Ural (173 metre-long) at the Baltic Shipyard in St. Petersburg.
- It is the third nuclear-powered icebreaker of Project 22220.
- Other two nuclear-powered ice breaker- Arktika (Arctic) and Sibir (Siberia) are under construction now.
- World Meteorological Organization (WMO) predicts that weak El Niño conditions would persist from June through August.
- Conditions may ease in September-November, and El Niño could further reduce its intensity or even turn neutral, according to WMO.
- El Niño is a climate pattern that occurs when sea surface temperatures in the tropical Pacific Ocean rise to above-normal levels.
- In order to curb the violence against women, WHO has created a “RESPECT Women” Framework- to be adopted by policy makers- based on the UN framework for action to prevent violence against women from 2015 and updated new evidence.
- Nearly 1 in 3 (35%) women worldwide have experienced physical and/or sexual violence by an intimate partner or sexual violence, not including sexual harassment, by any perpetrator, as per WHO.
- Globally, 30% of women have experienced physical and/or sexual violence by an intimate partner in their lifetime.
BANKING AND ECONOMY
- As per India Rating and Research (Ind-Ra) agency, India’s GDP growth rate during the 2018-19 is expected at 6.9%, lower than CSO’s estimate of 7%.
- Central Statistical Organization (CSO) will release the growth rate for the FY19 Q4 (Jan 2019- Mar 2019), and provisional annual estimates for 2018-19 on May 31.
- Music Broadcast Ltd has agreed to acquire Reliance Broadcast Network Ltd (operator of BIG FM radio network) for ₹1,050 crore.
- Ministry of Commerce has come up with a new draft export promotion scheme (which could be named as Central and State Taxes and Levies Scheme) along with a production based support scheme.
- It is a World Trade Organization (WTO)-compliant scheme to boost Make In India as part of its 100-day action plan, prepared by the ministry for the new government.
- This new scheme would replace the existing Merchandise Export from India Scheme (MEIS) which the US has opposed at the WTO.
- Under it, refund of all un-rebated central and state levies and taxes imposed on inputs that are consumed in exports of all sectors will be ensured.
- Facebook is going to launch its own cryptocurrency “GlobalCoin” in early 2020.
- SEBI has imposed strict norms of disclosure of listed debt securities to secure the interests of investors in listed debt securities and to enable Debenture Trustees (DTs) to perform their duties effectively and promptly.
- Companies need to disclose the schedule of interest and redemption obligations for the complete financial year on their websites.
- And, the status of payments has to be updated within one day of the due date.
- For privately-placed debt securities, additional 2% p.a. interest would be paid over the coupon rate in case of a default, for the defaulting period.
- SEBI has made buy back norms stricter for companies having NBFCs and Housing Finance Companies (HFCs) as its subsidiaries on the recommendations of Primary Market Advisory Committee (PMAC).
- The standard Debt-Equity ratio for all companies is 2:1, and for NBFCs the ratio should be 9:1, according to PMAC.
- The financials of subsidiaries in the NBFC and housing finance business can be excluded from the consolidated financials of their parent company only if they are:
- Have issuances with AAA ratings.
- Have debt to equity ratio of not more than 5:1 on standalone basis.
- YS Jagan Mohan Reddy has been appointed as the Chief Minister of Andhra Pradesh.
- The study conducted by University of Munster (Germany) published Journal Nature Astronomy claims that moon’s formation is responsible for bringing water to Earth.
- According to scientists, moon was formed when Earth was hit by a body called Theia, approximate to the size of Mars.
- Earlier, scientists assumed that Theia originated in the inner solar system near the Earth., contrary to this new research which shows that Theia comes from the outer solar system, and it delivered large quantities of water to Earth.
- UK Prime Minister Theresa May has announced her resignation from her post to be on June 7.