Current Affairs for July 31, 2019
BANKING AND ECONOMY
CURRENT AFFAIRS VIDEO
- Delhi cabinet has approved the Excise Policy for 2019-20 to draw away the people from taking hard liquor and to ensure better availability of authorised liquor so that people do not consume spurious liquor.
- Cabinet also decided to construct 144 temporary courtrooms at 3 district courts.
- Rajasthan govt. has introduced two bills in the state assembly: –
- Rajasthan Protection from Lynching Bill, 2019.
- Rajasthan Prohibition of Interference with the Freedom of Matrimonial Alliances in the Name of Honour and Tradition Bill, 2019.
- Consumer Protection (Amendment) Bill has been passed by Lok Sabha.
- Under it, fine of Rs 10 lakh extendable up to Rs 50 lakhs with jail term of 5 years will be imposed on celebrity personalities who promote fraud products or do misleading ads.
- Rajya Sabha has also passed the Triple Talaq bill.
- “Indian Air Force: A cut Above” video game (featuring a model of pilot Abhinandan Varthaman) was launched by Indian Air Force.
- Aim: – To attract more youth towards the air defence.
- NITI Aayog informed that an inter-ministerial panel formed for e-Vehicles (EVs) has approved 5,645 electric buses for operations in 65 cities.
- 8 state transport undertakings have been approved for inter-city operations.
- Ministry of Earth Sciences’ Deep Ocean Mission (DOM) has got cabinet’s approval at a budget of Rs 8000 crore (for a period of 5 years).
- Aim: – It will explore the deep surface of the ocean to extract metals and minerals.
- United Nations International Sea Bed Authority has allotted 75,000 sq. km in the Central Indian Ocean Basin for exploitation of polymetallic nodules (iron and manganese rocks).
- Approximately, 380 million metric tonnes of polymetallic nodules is available Central Indian Ocean basin.
- India and Myanmar signed an MoU for mutual co-operation in defence related areas.
- According to Wood Mackenzie’s report, India’s renewable energy producing cost is the lowest in the Asia Pacific region.
- Reason: – India’s levelized cost of electricity (LCOE) by using the solar photovoltaic has fallen to $38 per megawatt hour (14% cheaper than coal power) in 2019.
- India is the 2nd-largest market of energy in Asia Pacific (with 421 GW of installed capacity).
- Solar installed capacity is expected to reach 38 GW in 2019 and $48 per megawatt hour in 2020.
- LCOE is the price of the produced electrical energy.
- India has gifted 44 SUVs (Sport Utility Vehicle) and handed over 2 Fast Interceptor Boats (made in India) to Mozambique.
- Apart from it, India signed two MoU with Mozambique on Sharing White Shipping Information and Cooperation in the field of Hydrography.
- “Women Entrepreneur Cities Index 2019” conducted by IHS Markit (sponsored by Dell) ranks San Francisco Bay Area as the top city, followed by New York and London.
- Bengaluru (global rank- 43) is the top Indian city in terms of women entrepreneurship, followed by Delhi (global rank-50).
- In Asian region, Singapore (global rank- 21) city has topped.
- Parameters: – Cities are ranked on the basis of their ability to attract and support women entrepreneurs with help of five “pillars” of market, talent, capital, culture and technology.
- World Bank, UN Women and SIDBI have together launched women livelihood bond to help women entrepreneurs to raise money.
- 14th meeting of the Working Mechanism for Consultation and Coordination (WMCC) on India-China Border Affairs was held in Beijing, China.
- WMCC was established in 2012 for holding discussion on issues related to India-China border areas.
- India will procure R-27 medium-to-long-range air-to-air missile from Russia for Rs 1500 crore, to equip it on the Su-30MKI combat aircraft of the Indian Air Force.
- R-27 is being procured under 10-I projects which mandates army to maintain critical weapon for a special minimum period which is known as the War Wastage Reserve (WWR).
- Wildlife Survey Organisations report claims that 22 species (4 of fauna and 18 of flora) have gone extinct in India in the past few centuries.
- As per Botanical Survey of India’s data, India has 11.5% of all flora and 6.49% of all the fauna species in the world.
- Among mammals, cheetah, Sumatran Rhinoceros, pink-headed duck and Himalayan quail are considered extinct in India.
- Udhampur (District Administration of Jammu and Kashmir) has launched a helpline, “Jeene Do” to improve sex ratio.
- It will tackle the defaulters of Pre-Conception and Pre-Natal Diagnostic Techniques (PCPNDT) Act 1994.
- The helpline has been launched under Beti Bachao Beti Padhao scheme.
- Ministry of Road Transport & Highways has amended Central Motor Vehicle Rules which requires motor vehicles and their parts to be affixed with permanent and invisible microdots.
- Purpose: – To detect the stolen vehicles and curb theft of vehicles.
- European Union (EU) and Canada have agreed to use international arbitration panels to resolve trade disputes under World Trade Organization (WTO) rules in the absence of appellate body.
- Reason: – The appellate body (dispute settlement body) of WTO is set to become defunct by December this year as two out of its three members are going to retire and US is not allowing new appointments to the appellate body.
- The body should have 7 members but currently has only 3.
- Israel and USA have successfully tested “Arrow-3″ (an advanced anti-ballistic missile system).
- Boeing Company and Israel Aerospace Industries have jointly manufacture it.
- Infosys launched its Cyber Defence Center in Bucharest, Romania (as an expansion of its services delivered through Infosys Digital Innovation Center).
BANKING AND ECONOMY
- RBI relaxed norms for end-use of funds raised through the external commercial borrowing (ECB) route by companies and NBFCs.
A minimum average maturity period of 10 years has been set for borrowers to raise ECBs, for working capital purposes and general corporate purposes.
NBFCs have been allowed to raise funds for further on-lending, at a maturity period of 10 years.
For repayment of rupee loans, raised domestically for capital expenditure, can be availed by borrowers (including NBFCs) at a maturity of 7 years through ECBs.
ECBs, raised for any other purpose than capital expenditure, will carry a maturity period of 10 years.
- Hexaware Technologies Ltd. has launched an education technology start-up Azent Overseas Education Ltd.
- Reliance Jio has become the largest telecom company with 331.3 million subscribers in the quarter ended June 2019, followed by Vodafone at 320 million.
- Justice AK Sikri has been appointed as Ombudsman officer of Indian Federation of Sports Gaming (IFSG).
- World Day Against Trafficking In Persons is observed on July 30 by UN.
- Theme for 2019: – “Human Trafficking: call your government to action”.
- According to the UN office on drugs and crime’s (UNODC) Global report 2018, 58% (of the trafficked) people were trafficked within their own countries.
- 225,000 victims of trafficking were detected worldwide by UNODC since 2003.
- Doordarshan’s DD News has been awarded with the “Champions of Empathy Award” given by Om Birla (speaker of Lok Sabha).
- Reason: – For spreading awareness about hepatitis.
- Cholleti Sahajasri has won the Women International Master (IM) norm in the Czech Republic Open (Chess).
- She is the first women from Telangana to win the international IM norm.
- International Cricket Council (ICC) launched the world cup of test matches- World Test Championship (WTC).
- The world cup will be played by 9 top ranking ICC teams for two years starting from August 2019 to June 2021.
- The Ashes (test) series between England and Australia will be a part of it.
- Test matches will be played and the teams with most points will play the WTC finals.
- 9 teams: –
- Café Coffee Day enterprise founder V G Siddhartha passed away.