Current Affairs for 4 May and 5 May 2019
BANKING AND ECONOMY
CURRENT AFFAIRS VIDEO
- Ministry of Defence has cleared Indian Navy’s procurement deal with Russia for 10 Kamov-31 Airborne Early Warning and Control choppers for around Rs 3,600 crores.
- Purpose – to strengthen capability against aerial threats to its aircraft carriers and large warships.
- The Indian Space Research Organisation (ISRO) planned to launch its latest Radar Imaging Reconnaissance Satellite ‘RISAT 2BR1’ towards the end of May 2019.
- The RISAT is a remote sensing satellite which provides all-weather surveillance using Synthetic Aperture Radars (SAR).
- RISATs are the first all-weather observation satellites from ISRO.
- After having served for 36 years, INS Ranjit, the Indian Navy’s frontline missile destroyer, will be decommissioned at the naval dockyard in Visakhapatnam on May 6.
- It was commissioned in 1983.
- On occasion of Gujarat’s foundation day, ‘Gujarat Shops and Establishments (Regulation of Employment and Conditions of Service) Act, 2019’ came into force from May 1.
- It enables shops and commercial establishments to remain open round the clock.
- It replaces ‘Gujarat Shops and Establishments Act of 1948’ which prohibited shops and other businesses from remaining open between 12 am to 6 am.
- A new database named Global Registry of Violent Deaths (GReVD) has been released by Stockholm International Peace Research Institute (SIPRI) to count deaths caused by all forms of violence across the world.
- It works on the Sustainable Development Goals-Goal 16 – ‘significantly reduce all forms of violence and related death rates everywhere’ by 2030.
- According to analysis by London & Partners (L&P), London has emerged as the top choice for Indian investors reaching an all-time high last year.
- UK emerged as the top most country to attract Indian FDI with 52 projects followed by US (51).
BANKING AND ECONOMY
- Vodafone Idea Ltd. has signed a five-year multi-million-dollar IT outsourcing deal with tech giant (Size of the deal not confirmed)
- They will partner together in domains like cloud, AI (Artificial Intelligence) and IoT (Internet of Things).
- RBI has imposed penalties on five Prepaid Payment Instrument (PPI) issuerss for violation of regulatory norms.
- The powers vested under Section 30 of the Payment and Settlement Systems Act, 2007.
- Imposed on – Vodafone m-pesa, PhonePe, Private and GI Technology. And Y-Cash Software Solutions.
- PPIs are instruments which come with a preloaded value.
- PPI issuer is an entity operating in a payment system who issues PPIs to individuals or organisations and uses money so collected to make payment to merchants.
- The Chief Economic Advisor of India , Dr. Krishnamurthy Subramanian has been included as Member of the Advisory Council of the Fifteenth Finance Commission.
- The 15th Finance Commission is headed by N.K Singh.
- Coal Miners Day is observed every year on 4 May.
- International Firefighters’ Day (IFFD) is observed on May 4 each year.
- ‘Coalgate 2.0’, which is authored by Nileena M.S. was awarded the Asian College of Journalism’s Award for Investigative Journalism 2018.
- The article investigated the allotment of captive coal blocks in Parba East and Kanta Basan regions of Chhattisgarh.
- The 8th edition Asian Youth Women Handball Championship 2019 will be held in Jaipur from August 21 to 30.
- This is the first time Jaipur will host the event.
- Previous seven editions have been won by South Korea.