4th July 2019 | Current Affairs

CURRENT AFFAIRS: DAYS

Independence Day USA

  • Independence Day USA is celebrated every year on 4 July. United States Independence Day is also known as the Fourth of July.
  • This day commemorates the adoption of the Declaration of Independence on 4 July, 1776 from the Kingdom of Great Britain.

CURRENT AFFAIRS: CABINET APPROVALS

Cabinet approves MoU between India and Maldives in Health Sector

The Union Cabinet has given ex-post-facto approval to the Memorandum of Understanding (MoU) between the Government of the Republic of India and the Government of the Republic of Maldives on cooperation in the field of Health.

The Memorandum of Understanding covers the following areas of cooperation: –

  • Exchange  &  Training  of  medical  doctors, officials, other   health professionals and experts;Medical and health research development;
  • Regulation  of  medicines  and  medical products, and  exchange  ofinformation thereon;
  • Communicable and Non-Communicable diseases;
  • E-Health and Telemedicine;
  • Any other area of cooperation as may be mutually decided upon.

Cabinet approves proposal for Grant of Organized Group ‘A’ Service (OGAS) to Group ‘A’ Executive Cadre Officers

  • The Union Cabinet chaired by Prime Minister NarendraModi has approved the proposal for Grant of Organized Group ‘A’ Service (OGAS) to Group ‘A’ Executive Cadre Officers of Central Armed Police Forces (CAPFs) and extension of benefit of Non-Functional Financial Upgradation (NFFU) and Non-Functional Selection Grade (NFSG).
  • This would result in grant of NFFU to eligible Group ‘A’ Executive Cadre Officers of CAPF; and
  • The decision would also benefit Group ‘A’ Executive Cadre Officers of CAPF for availing the benefit of NFSG at an enhanced rate of 30% as per guidelines.

Cabinet approves MoU between India and Maldives for Shipping

  • The Union Cabinet has given ex-post facto approval for the MoU between India and Maldives for the establishment of passenger and cargo services by sea, which was signed on June 8, 2019 during the visit of Prime Minister of India to Maldives.
  • India is a leading development partner of Maldives and has established many of the leading institutions of Maldives. Currently, India has provided US $100 million Stand-by Credit facility (SCF) to Maldives, including long-term loans and revolving credit for trade.
  • With a view to harness the potential opportunity that lies in passenger and cargo transportation by sea between the two countries, this MoU with Maldives has been signed. The proposed ferry service would contribute in a big way to promote people to people contact and to boost bilateral trade.

Cabinet approves MoU of Cooperation between India and Morocco 

  • The Union Cabinet chaired by Prime Minister NarendraModi has approved the MoU between India and Morocco for developing, promoting and strengthening mutual cooperation between the judiciaries of the two countries.
  • The approval will promote cooperation between India and Morocco in judicial and other legal areas and enable exchange of knowledge in infrastructure and information technology.

Cabinet approves proposal for leasing out of three airports viz. Ahmedabad, Lucknow and Mangaluru of Airports Authority of India through Public Private Partnership 

  • The Union Cabinet chaired by Prime Minister NarendraModi has approved the proposal for leasing out of three airports viz. Ahmedabad, Lucknow and Mangaluru of Airports Authority of India (AAI) through Public Private Partnership (PPP) to the highest bidder i.e. M/s. Adani Enterprises Ltd. who quoted the highest bid for these airports, for operation, management and development under PPP for a lease period of 50 years as per the terms and conditions of the bid documents.
  • These projects will bring efficiency in delivery, expertise, enterprise and professionalism apart from harnessing the needed investments in the public sector. This will also result in enhanced revenues to the AAI, which may lead to further investment by AAI at Tier II and Tier III cities and economic development in these areas in terms of job creation and related infrastructure. 

CURRENT AFFAIRS: NATIONAL

CM BhupeshBaghel inaugurates ‘Jan Choupal’ programme in Raipur

  • Chhattisgarh Chief Minister BhupeshBaghel inaugurated ‘Jan Choupal’ programme.
  • Under this programme, public meetings will be held once every week to discuss the issues of the people.
  • The concept of ‘Jan Choupal’ has been taken from the practices of our ancestors in the village, who used to gather and solve the issues faced by them.

Govt hikes Minimum Support Price of Kharif crops for 2019-20 season

  • In a major boost to the farmers’ income, the Cabinet Committee on Economic Affairs has approved the increase in the Minimum Support Prices, MSP for all Kharif crops for 2019-20 Season.
  • MSP of paddy has been increased by 65 rupees per quintal, Jowar by 120 rupees and Ragi by 253 rupees per quintal.
  • MSP of Tur has been raised by 125 rupees, Moong by 75 rupees and Urad pulses raised by 100 rupees per quintal.
  • MSPs of soyabean increased by 311 rupees, sunflower by 262 rupees and sesamum by 236 rupees per quintal which is a major step towards increasing the income of farmers.
  • The increase in MSP for Kharif Crops for 2019-20 season is in line with the principle of fixing the MSPs at a level of at least 1.5 times of the all India weighted average Cost of production, which was announced in the last budget 2018-19.

CURRENT AFFAIRS: BANKING AND FINANCE

RBI sets up working group to review regulatory norms for core investment companies

  • Reserve Bank of India (RBI) has now set up a working group to review the regulatory and supervisory framework for core investment companies (CICs).
  • Over the years, corporate group structures have become more complex involving multiple layering and leveraging, which has led to greater inter-connectedness with the financial system through their access to public funds. Further, in light of recent developments, there is a need to strengthen the corporate governance framework of CICs
  • The six-member working group, which will be headed by Tapan Ray, Non-Executive Chairman, Central Bank of India, and former Secretary, Ministry of Corporate Affairs, will examine the current regulatory regime for CICs and suggest changes to the current approach for their registration, including the practice of multiple CICs being allowed within a group.
  • The working group shall submit its report by October 31, 2019
USEFUL INFO
RBI HeadquartersMumbai
RBI GovernorShaktikant Das
RBI Deputy GovernorBP Kanungo, N S Vishwanathan, and Mahesh Kumar Jain

Karnataka Bank launches a Digital Recovery Tool

  • Karnataka Bank has launched a web tool named VASOOL SO-Ft (VASOOL SOFAST) for digitalising NPA recovery process.
  • As part of Transformation journey, a digital tool for recovery of stressed assets is launched which will provide end-to-end digital solution.
USEFUL INFO
Karnataka Bank CEOMahabaleshwara M S
HeadquartersMangaluru
TaglineYour Family Bank, Across India

Punjab & Sind Bank sets up centralized MSME & Retail Group for credit approval

  • Punjab & Sind Bank has set up the Centralized Micro Small and Medium Enterprises (MSME) & Retail Group (Cen-MARG) for credit facilities at its head office in the national capital.
  • At this centralized set up, now all MSME and retail credit approvals will be performed. This will not only help branches focus better on lead generation for retail and MSME lending but also enhance customer service.
  • The Cen-MARG would be linked with pan-India branches in a phased manner.
USEFUL INFO
Punjab & Sind Bank MD &CEOS. HariShanker
HeadquartersNew Delhi
TaglineWhere service is a way of life

CURRENT AFFAIRS: FESTIVAL

PuriJagannathRathYatra begins

  • PuriJagannathRathYatra dedicated to Lord Jagannath, brother Balabhadra and sister Subhadra begins. JagannathPuriRathYatra started with early rituals in the morning.
  • The RathYatramarks the journey of Lord Jagannath along with his siblings Lord Balabhadra and Devi Subhadra from Jagannath temple to Gundicha temple. This journey covers a distance of around 17 km in Puri.

CURRENT AFFAIRS: APPOINTMENTS AND RESIGNATION

Christine Lagarde nominated as president of European Central Bank

  • International Monetary Fund Managing Director Christine Lagarde was on Tuesday nominated as the president of the European Central Bank, following which she announced to temporarily relinquish her responsibilities as head of IMF.
  • The nomination means Lagarde will step down two years before the end of her second five-year term at the helm of the IMF.

CURRENT AFFAIRS: MOU

Jio Digital Udaan Literacy Programme Launched in Partnership with Facebook

  • Reliance Jio has launched a new digital literacy programme, aimed at first time internet users who are using the connected internet ecosystem and apps for the very first time.
  • The programme, which will primarily focus on people using JioPhone and make use of Facebook and its ecosystem to demonstrate the advantages of connectivity and information availability.
  • The Jio Digital Udaan programme is being launched across 200 locations in 13 states, with over 7,000 locations in India earmarked for future release. As part of the initiative, Facebook will handle the content end and its relevance to the target audience, and also provide training programmes with videos and information brochures to those who will handle the literacy initiative on behalf of Reliance Jio. 

CURRENT AFFAIRS: SPORTS

AmbatiRayudu announces retirement from all forms of cricket

  • India middle-order batsman AmbatiRayudu has announced his retirement from all forms of cricket, including the IPL.
  • In 55 ODIs, Rayudu scored 1694 runs with three centuries and 10 half-centuries.
  • In the six T20Is he played, the middle-order batsman scored 42 runs. Rayudu never got a chance to represent India in Test cricket.

Pakistan beat India to lift IBSF Snooker World Team Cup

  • Pakistan defeated India 3-1 to lift the IBSF Snooker World Team Cup 2019 title in Qatar.
  • The Indian team was outplayed by Pakistan who won the first two frames. The Indian team, however, bounced back to win the third frame before Pakistan made a comeback to take the crown home.

CURRENT AFFAIRS: OBITUARY

Veteran industrialist BK Birla passes away

 

  • Birla Group patriarch and a doyen of the Indian industry Basant Kumar Birla passed away in Mumbai at the age of 98.
  • BK Birla was the Chairman of the BK Birla Group of Companies as well as patron of some 25 educational institutions spanning all over the country.

Former president of Montenegro, MomirBulatovic, passes away

 

  • MomirBulatovic, the former president of Montenegropassed away. He was 62.
  • Bulatovic served as the President of Montenegro from 1990 until 1998.

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