Current Affairs for July 30, 2019
BANKING AND ECONOMY
CURRENT AFFAIRS VIDEO
- Odisha has got the geographical indication tag for producing the
- West Bengal also has the GI for Rasagola.
- Delhi Archives, in collaboration with the Ambedkar University will launch an ‘oral history programme’ in Delhi to document the stories and experiences of Delhiites.
- Centre for Science and Environment (CSE) conducted first-of-its-kind environmental rating of the fertilizer industry under its Green Rating Project (GRP).
- Four Leaves award winner:- Indo Gulf Fertilisers unit (under Grasim Industries Ltd.) at Jagdishpur, Uttar Pradesh for its performance in energy use and efficient greenhouse emissions.
- Three Leaves award winner: – Hazira (Gujarat) unit of Krishak Bharati Cooperative Ltd., Panambur (Karnataka) unit of Mangalore Chemicals & Fertilizers Ltd. and Babrala (UP) unit of Yara Fertilizers India Pvt. Ltd.
- The efficiency of fertilizer use in India is poor: efficiency in nitrogen use is a mere 35% for lowland rice and under 50% for upland crops.
- Odisha has renamed it’s Secretariat building (located in in Bhubaneswar) as ‘Lok Seva Bhavan’.
- Article 246 of the Indian Constitution gives powers to parliament to make laws with respect to any matter for any part of the territory of India not included in a State notwithstanding that such matter is a matter mentioned in the State List.
- As per the Census 2011 data, about 450 million people out of 1.2 billion Indians migrated within the country.
- Out of this, 78 million (15.6%) of all domestic migrants, moved from rural to urban areas as per census 2011.
- Women outnumbered men as out of 78 million, 55% were females migrants.
- The rural to urban migration ratio for females was 7.4% as against 5.7% of males.
- Migration ratio was higher in districts of Maharashtra, Delhi, Gujarat and West Bengal and Tamil Nadu.
- Mizoram is going to implement, ‘Kan Sikul, Kan Huan (My School, My Home)’, project of turning schools into nutrition garden (kitchen gardens) in the whole state.
- The program has been initiated by Mizoram’s Lawngtlai district
At central level, Ministry of Human Resource Development has also granted Rs 5,000 per school annually for growing these kitchen gardens.
Rs 66 lakh has been approved for developing 1,320 kitchen gardens by HRD ministry under the ‘flexi fund component for innovative interventions’ as part of the mid-day meal scheme.
- Indian Navy has inducted amphibious ship LCU L-56, the sixth of the Landing Craft Utility (LCU) MK IV class ships, to be deployed in Port Blair under Andaman and Nicobar Command.
- It will be used for transportation and deployment of main battle tanks, armoured vehicles, troops and equipment from ship to shore.
- It has been built by Garden Reach Shipbuilders and Engineers (GRSE).
- GRSE has now become the first shipyard in India to build the 100th warship.
- Founder and CEO of Byju’s Raveendran has become the newest billionaire of India after the company raised $150 million, (now has a total valuation $6 billion).
- 17th Lok Sabha has the highest number of women members at 78 or 14%.
- National Traders’ Welfare Board, will soon be operationalized (after Cabinet’s approval) under the Department for Promotion of Industry and Internal Trade.
- Purpose: – It will improve access to funds, identify measures for the welfare of traders and their employees, improve their access to funds.
- IDFC Institute’s Report on Reforming Urban India mentions that Indian Cities contribute between 59% and 70% of total GDP.
- It suggested that the cities need urgent reforms to improve their economic potential.
- According to Census 2011, 31% of India was urban.
- However, the report estimates India’s urbanisation rate to be between 47–65%.
- Ministry of Statistics and Programme Implementation (MoSPI) has begun the 7th Economic Census of India 2019 from Tripura.
- CSC e-Governance Services India Ltd. under Ministry of Electronics and Information Technology is the implementation agency for the developing ICT platform and conducting fieldwork for the Census.
- The census (conducted in every 5 years) counts all entrepreneurial units in the country which are involved in any economic activities.
- North Frontier Railway zone has introduced new ‘pink coaches’ for women passengers.
- Section 58 of the Railways Act, 1989 mandates for earmarking of accommodation for female passengers in trains.
- West Bengal CM Mamata Banerjee has launched the “Didi Ko Bolo” campaign aimed at directly connecting citizen with CM.
- Citizens can now directly reach out to CM with their grievances.
- Central government has decided to completely digitize Waqf properties across the country.
- Purpose: – To improve the infrastructure of waqf boards and to prevent encroachment of these properties.
- A waqf is a donation of plot, building etc. for Muslim religious or charitable purposes with no intention of reclaiming the assets.
- World Hindu Economic Forum (WHEF) has launched its Nepal Chapter.
- Purpose: – To increase economic cooperation between India and Nepal and to connect Nepal with a global network for its economic prosperity.
- WHEF (HQ- Delhi) is a non-profit international organization that aims to make Hindu society prosperous through creation and sharing of surplus wealth.
- IIT Hyderabad has developed low-cost, environment-friendly solar cells with the help of kumkum dye (vermilion).
- The Dye-Sensitised Solar Cell (DSSC) is made up of New Fuchsin dye, according to the research published in the Solar Energy journal.
- First-ever India-Nepal Logistics Summit has been organised in Kathmandu, Nepal.
- Theme: – Transforming Logistics Landscape.
- Pakistan has set a deadline to send first human into space by 2022.
- World Health Organization (WHO) has suggested anti-HIV drug Dolutegravir (DTG) to be used as first and second line medicine for all population (including pregnant women).
- 82 low and middle-income countries have been transitioning to DTG-based treatment in 2019.
BANKING AND ECONOMY
- A working group formed to look into the dispute of proxy advisory firms and companies has suggested that SEBI should be the central authority to resolve the disputes between them.
- It also suggested to establish a ‘Chinese Wall’ if the proxy advisory firm also offers consultancy services.
- It also suggested SEBI to make changes in the Listing Obligations and Disclosure Requirements Regulations to allow companies to approach SEBI in cases of disputes.
Proxy advisory firms are independent research organizations that provides advise to corporate firms in matters of mergers, acquisitions, top appointments and CEO pay, for which the shareholders vote in AGMs or other meetings.
- PNB Housing Finance has received $100 million from International Finance Corporation (IFC), a member of World Bank Group.
- The investment was made under RBI’s automatic route in the external commercial borrowings (ECB) framework.
- Target limit for PNB to borrow from external sources through ECB route is $750 Mn.
- Reason: – To finance its affordable housing projects.
- Pfizer Inc (Drug-making firm) will combine its generic drug business with Mylan to form a new combined unit.
- The new unit will be headed by Michael Goettler (current president of Pfizer’s generics unit, Upjohn) and Robert Coury will become the executive chairman.
- Pfizer had planned to split its business into three parts – innovative medicines, lower margin generic drugs business and consumer healthcare.
- Pfizer and GlaxoSmithKline Plc had merged in 2018 for the consumer healthcare.
- According to the Journal Nature Climate Change, textile industry is the world’s second most polluting business after oil, with 2 billion tonnes of greenhouse gas emissions.
- India’s apparel industry is expected to become the world’s sixth largest apparel market with $59.3 billion size by 2022.
- Canada’s Public Sector Pension Investment Board (PSP Investments) has tied up with Abu Dhabi Investment Authority (AIDA) and India’s National Investment Infrastructure Fund (NIIF).
- Purpose: – To buy 49% stake in GVK Airport Holdings Ltd for about Rs 6,000 crore.
- Competition Commission of India has approved purchase of additional 10% stake in Mumbai International Airport by GVK Airport Holdings for Rs 924 crore.
- National Building and Construction Corporation (NBCC)- a navratna enterprise- will complete the stalled projects of Amrapalli Group.
- Energy Efficiency Services Ltd. (EESL) has signed an MoU with New Okhla Industrial Development Authority to promote e-Vehicles in Noida, UP and to install 100 public charging station approx. across the city.
- EESL is world’s largest public energy service company.
- Insolvency and Bankruptcy Board of India (IBBI) has given 90 day timeline to promoters and other stakeholders to re-take control of a company through agreements with creditors after the commencement of insolvency proceedings.
- Section 230 of the Companies Act allows for promoters or any class of creditors of a company to reach a compromise or arrangement with other stakeholders of the company to take control of the company.
- IBBI has mandated that liquidation under Insolvency and Bankruptcy Code should be completed within 1 year.
- India’s Current Account Deficit (CAD) is expected to remain between a range of $16-17 billion or 2.3 % of GDP in the first quarter of FY20, according to credit-rating agency ICRA.
Q1 of FY19 had $5.8 billion CAD.
CAD for FY20 is expected to widen to $63-68 billion, or at 2.1% of GDP.
Indian exports declined by 1.7% and imports were reduced by 0.3% in the Q1 of FY20.
Anticipated growth in merchandise exports is 2-3% and imports is 4-5% in FY20.
Overall trade deficit to widen to $193-198 billion in FY20 from $180 billion in FY19.
Exports shrunk by almost 10% on-year in the month of June.
- Amit Shah has been appointed as the head of the Group of Ministers that was formed in 2018 to suggest measures to combat mob lynching.
- Ministry of Culture has appointed journalist Kanchan Gupta as the chairperson of Raja Rammohun Roy Library Foundation till May 2020.
- Tiruchirappalli International Airport, in Tamil Nadu, has been shortlisted for the Leading European Architecture Forum (LEAF) awards 2019.
- Designed by Pascall+Watson, the terminal has been shortlisted in the category of a ‘best future building under construction project’.
- ABB LEAF Award is an annual international architectural prize.
- Vidisha Baliyan (a former International tennis player) has been crowned with ‘Miss Deaf World 2019’ in South Africa.
- She is the first Indian to win this title.
- Priya Priyadarshini Jain received the “Indian Women of Influence” award at House of Lords, in United Kingdom Parliament, London.
- Coffee table book on ‘50 Most Influential Indian Women Worldwide’ was also released and Jain features in it along with the other women like Partibha Patil, Nita Ambani, MP Caroline, Hema Malini, Shilpa Shetty.
- Kento Momota and Akane Yamaguchi won the men’s and women’s singles in Japan Open 2019 (Badminton) held in Tokyo.
- Alex de Minaur (Australia) has won the Atlanta Open 2019 (ATP Tennis tournament) held in Atlanta, USA.
- It is his second ATP title.
- Dalilah Muhammad (American athlete) has broken the 16 years old world record in the 400m hurdles at 52.20s in women’s athletics in the USA Track and Field Outdoor Championships.
- The previous world record was made by Russia’s Yuliya Pechonkina at 52.34s in 2003.
- Anastasija Sevastova (Latvia) has won the 1st edition of Baltic Open (WTA Tennis tournament) held in Jurmala, Latvia.
- Ko Jin-young (South Korean) won the Evian Championship (Golf) held in Evian, France.
- Collin Morikawa (American) won the US PGA tour (Golf) held in Los Angeles, USA.
- Jerlin Anika (India) won gold in the World Deaf Youth Badminton Championship 2019 held in Taipei, Taiwan.
- Bhakti Kulkarni has won the 46th National Women Chess Championship 2019 held in Tamil Nadu.
- Max Verstappen (Dutch) has won Formula 1 German Grand Prix 2019.
- Table Tennis Mixed Doubles event will be added in the 2020 Tokyo Olympics Games.
- This is the first time in Olympics history that this format is being added to Olympics.
- Manika Batra and Sharath Kamal will represent India in the mixed doubles event here.
- Patrice Latyr Evra (French footballer) has announced retirement.
- Attoor Ravi Varma, an Indian poet and also one of the pioneers of Malayalam poetry, has passed away.