August 28, 2019

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National

  1. Govt launched mobile application “Janaushadhi Sugam”
  • “Janaushadhi Sugam” will enable people to search for Janaushadhi generic medicines and the stores at the tip of their fingers.
  • This mobile application would have user-friendly options like- to locate nearby Janaushadhikendra, direction guidance for the location of the Janaushadhikendra through Google Map.
  • The mobile application is available on both Android & iOS platforms. It can be downloaded free of cost by the user from the Google Play Store and Apple Store.
  1. Indo Pacific Chiefs of Defence Conference 2019 to be held in Thailand
  • The 2019 Indo Pacific Chiefs of Defence (CHOD) Conference will be held in Bangkok, Thailand’s. In this conference, India will be represented by Chairman Chiefs of Staff Committee (COSC) and Chief of the Air Staff- Air Chief Marshal Birender Singh Dhanoa.
  • The conference will provide perspectives on common challenges faced by attending nations and elicit open discussions on the same. The theme for the conference is “Collaboration in a free and Open Indo – Pacific”.
  1. MHRD launched National Digital Library of India
  • Under the National Mission on Education through Information and Communication Technology (NMEICT), Ministry of Human Resource Development (MHRD) launched the National Digital Library of India project. It will develop a framework of virtual repository of learning resources with a single-window search facility.

Key Points:

♦National Digital Library has been integrated with Unified Mobile Application for New-age Governance (UMANG) App and users can register through www.ndl.gov.in or through the mobile app.

♦There are more than 3 crore digital resources available through the National Digital Library

State

  1. Karnataka CM appoints 3 Deputy CMs and allocates cabinets
  • The Chief Minister of Karnataka, Shri B.S Yedayurappa had appointed 3 deputy chief ministers and had also allocated portfolios to 17 ministers, a week after the cabinet ministry was expanded. The deputy CMs areMudholGovindKarjol (68), Dr. C.N. AshwathNarayan (51) and LakshmanSavadi(59).

Key points:

♦The appointment of 3 Deputy CMs which is a first in Karnataka, were assigned several portfolios. They are

♦MudholGovindKarajol-  Minister of Public Works Department, Additional charge Social Welfare Department.

♦Dr. C.N. Ashwath Narayan- Minister of Higher Education, Information Technology and Biotechnology, Science and Technology.

♦LakshmanSavadi-  Minister of Transport.

  1. TN education Dept launches 24-hour Tv channel for school students
  • The Chief Minister(CM) of TamilnadushriEdappadi K Palaniswamy launched the 24 hour TV(television) channel for the school students by the state education departmentat a function in Chennai.Theprogrammes in the channel would cover syllabi from pre-KG(KinderGarten) to 12th standard.

Key points

♦Hi-fi laboratories are being established in all Government High Schools and Higher Secondary Schools costing about Rs. 520 crores.

♦First electric bus in the state:  CM also launched the state’s first electric bus equipped with air-conditioning, automatic doors and GPS (Global Positioning System).

♦Amma patrol vehicles: Mr. Palaniswami flagged off 40 ‘Amma Patrol vehicles’ at a total cost of Rs.7.50 crore for women and children within the Greater Chennai Police limits and will be handled by police personnel.

  1. Odisha’s former chief secretary Lalat Indu Parija passed away
  • The former chief secretary of odisha Lalat Indu Parija passed away in a hospital in Cuttack, at the age of 89 following a cardiac arrest.
  • Hailing from Odisha, Lalat, the son of eminent scientist PranakrushnaParija, served twice as the Chief Secretary of Odisha in 1983 and in 1986.
  • Previous roles: He was the captain of Odisha Ranji cricket team and later served as the Chairman of the Orissa Public Service Commission(OPSC). He also served as Deputy General Manager of the Rourkela Steel Plant.
  • Recent book: He recently released the book named “Fate takes a Hand” in March 2019.

International

  1. Taylor Swift the highest-paid woman singer: Forbes
  • According to the Forbes report, singer Taylor Swift has been named the highest-paid woman in music with earnings of USD 185 million (over Rs 1,300 crore).
  • Most of her earnings came from her Reputation Stadium Tour, which grossed USD 266 million as well as a new nine-figure deal with Universal’s Republic Records.
  • Beyonce is on the second position who reportedly raked in about USD 81 million (Rs. 579 Cr) in pre-tax earnings.
  1. Indonesia picks Borneo island as site of new capital
  • Indonesia has chosen the eastern edge of jungle-clad Borneo island for its new capital
  • The current capital, Jakarta, home to more than 10 million people, sits on swampy land.Parts of the city are sinking by as much as 25cm (10in) a year and almost half now sits below sea level.
  • The new location was at “minimal” risk of natural disasters
  • The estimated cost of the project was around 466 trillion rupiah (US$33 billion)
  1. Overview of Prime Minister Narendra Modi’s Visit to France, UAE and Bahrain and G7 Summit
  • Prime Minister of India, Shri Narendra Modi was on a 3 nation visit to France, United Arab Emirates (UAE) and Bahrain from 22-26 August 2019. He also attended the 45th G7 Summit for the year 2019 in Biarritz, France.
  • Prime Minister Narendra Modi launched the RuPay card in Abu Dhabi, making it the first country in the Middle East to initiate the Indian indigenous system of electronic payment. He made a special purchase which he offered as ‘prasad’ at the Shreenathji Temple in Bahrain during his visit.
  • PM launched the $4.2 million redevelopment project of the 200-year-old Lord Sri Krishna temple in Manama.
  • The 45th G7 Summit for the year 2019 was held in Biarritz, France from 24 to 26 August, 2019. The next G7 Summit (46th) for the year 2020 will be held in the United States.
  • World leaders at the G7 summit in France pledged to spend a total amount of $22 million to fight the raging wildfires in the Amazon in South America that are threatening the world’s biggest rainforest.

Banking & Finance

  1. RBI to transfer Rs. 1,76,051 crore to Government
  • The Central Board of the Reserve Bank of India (RBI) approved the transfer of Rs 1,76,051 crore to the Government of India.
  • To transfer a sum of Rs 1,76,051 crore to the Government of India comprising Rs 1,23,414 crore of surplus for the year 2018-19 and Rs 52,637 crore of excess provisions identified as per the revised Economic Capital Framework (ECF).
  • Government of India had constituted an Expert Committee to Review the Extant Economic Capital Framework of the Reserve Bank of India under the chairmanship of Dr Bimal Jalan.
  1. RBI issues guidelines on Interest Subvention Scheme for Kisan Credit Card (KCC) to Fisheries and Animal Husbandry farmers during 2018-19 and 2019-20
  • The country’s central bank, Reserve Bank of India(RBI) has issued guidelines on Interest Subvention Scheme (ISS)for Kisan Credit Card (KCC) to Fisheries and Animal Husbandry farmers during the year 2018-19 and 2019-20.
  • Apart from existing KCC holders for crop loans, the farmers involved in activities related to Animal Husbandry and Fisheries, through a separate KCC will get at a concessional interest rate of 7% per annum during the years only 2018-19 and 2019-20 for the short loan up to Rs. 2 lakh. The Interest subvention is available for animal husbandry and fisheries farmers at the rate of 2% per annum at the time of disbursal of loan.
  • The additional interest subvention of 3% per annum given to farmers, who repaying in time i.e up to the due date fixed by the banks for repayment of the loan, whichever is earlier. This subvention will also provided to the farmers repaying promptly would get short-term loans at the rate of 4 % per annum during 2018-19 and 2019-20.
  1. An MoU signed between Indian Bank and Tata AIG General Insurance
  • Indian Bank signed a Memorandum of Understanding (MoU) with Tata AIG General Insurance to offer Tata AIG General Insurance’s diverse range of general insurance policies benefiting the bank’s customers.

Key Points:

♦The MoU was signed in the presence of Ms Padmaja Chunduru, Managing Director (MD) and Chief Executive Officer (CEO) of Indian Bank and Mr Saurabh Maini, Senior Vice President and Business Head–Key partnership Group, Tata AIG General Insurance.

♦Tata AIG General Insurance will work with the Indian bank for sales training, product support and ensuring smooth operational processes.

  1. Canara Bank launches new facility to use OTP for ATM cash withdrawals above Rs.10,000
  • Canara Bank, One of the largest public sector banks in India has launched India’s first one-time password (OTP) facility for ATM withdrawals over Rs.10,000 in a day.
  • This extra security armor will protect the card users from illegally withdrawing money from ATMs(Automated Teller Machine).
  • Many banks have started taking steps to protect their customers from ATM fraud. On March 15, 2019, The State Bank of India( SBI) has also launched YONO (You Only Need One) Cash Services for customers to withdraw money from ATMs without a card.

Business & Economy

  1. Alphalogic Techsys Limited to be the First Company to be Listed on BSE Startup Platform
  • The Bombay Stock Exchange has approved the IPO application of Alphalogic under their BSE Startup Platform. The company has already unveiled its Draft Red Herring Prospectus (DRHP), which has been uploaded to the BSE Startup Portal.
  • Now startups in India can raise funds through initial public offerings! This fact will be substantiated when Alphalogic Techsys Limited will come up with its IPO in the last of week of this month. It is expected that Alphalogic will be the first startup to be listed on the BSE Startup Platform.
  • BSE has approved the IPO applications of the first two companies till date, since the launch of the platform in December 2018.
  • Alphalogic is a boutique software company based in Pune, and it has been growing at the rate of CAGR 40% in the last 4 years.
  1. India failed to comply with the multiple requirements prescribed in SDDS: IMF Report for 2018
  • According to the report titled “Annual Observance Report of the Special Data Dissemination Standard for 2018” released by the International Monetary Fund (IMF), India failed to comply with the multiple requirements prescribed in Special Data Dissemination Standard (SDDS) which are mandatory for all IMF members. The report lists the compliances & deviations from the SDDS under each data category for a particular year. There are 20 data categories.

Key Points:

♦In 2018, India deviated from the SDDS in at least 1 instance in all the data categories listed. The delay had exceeded 100 days in multiple instances.

♦Brazil did not delay dissemination in any category. China, South Africa and Russia lagged in some categories but the delay didn’t exceed 31 days for any category.

♦The report lists 3 types of deviations from SDDS:

♦The first deals with the delays in data dissemination from the periodicity prescribed in the SDDS.

♦The second occurs when member countries do not list a data category in their Advance Release Calendars (ARC) despite the category being mandated by the SDDS.

♦The third deviation occurs when data is not disseminated at all for a particular period.

  1. Amazon launches Military Veterans Employment programme in partnership with DGR and AWPO
  • e-commerce giant Amazon India launched Military Veterans Employment programme in order to create opportunities for military veterans and their spouses in partnership with Director General of Resettlement (DGR) and the Army Welfare Placement Organisation(AWPO).
  • It is to be noted that globally, Amazon has employed over 17,500 employees in the programme.
  • Recently Amazon India was rated as the country’s most ‘attractive employer brand,’ as per the Randstad Employer Brand Research in june 2019.

Sports

  1. Ramesh Powar appointed India A’s bowling coach
  • Ramesh Powar has been appointed as the bowling coach of India A for the upcoming five-match one-day series and two four-day games against South Africa A.
  • Earlier he was appointed as Indian women’s team head coach. His stint came to an end following the Women’s T20 World Cup in West Indies.
  • The five one-dayers between India A and South Africa A will be played on August 29, 31, September 2, 4 and 6.
  1. Feroz Shah Kotla Cricket Ground in Delhi is set to be renamed as Arun Jaitley Stadium
  • The governing body of Cricket activities in the Delhi state, the Delhi and District Cricket Association (DDCA) has decided to rename the Feroz Shah Kotla Stadium in Delhi as Arun Jaitley Stadium in the memory of the cricket body’s former president who passed away on August 24, 2019.
  • The rechristening will take place on September12, 2019, at a function, which will be held at the Jawaharlal Nehru Stadium and will be graced by the presence of Home Minister Amit Shah and Sports Minister Kiren Rijiju.
  • Jaitley, the former Minister of Finance is credited with renovating the Kotla ground into a modern facility with increasing capacity to accommodate more fans and also world-class dressing rooms.

Appointment & Resignation

  1. Paytm appoints Amit Nayyar as President
  • Paytm has appointed former Goldman Sachs Executive Director and Co-COO for Investment Banking Amit Nayyar as President, who will be responsible for the financial services business.
  • The IIM-Bangalore alumnus is expected to report to Paytm Founder Vijay Shekhar Sharma.
  • This comes days after the Noida-based fintech giant elevated its CFO and Senior Vice President Madhur Deora to the President role.
  1. General Shavendra Silva Appointed Commander Of Sri Lankan Army
  • President Maithripala Sirisena appointed General Shavendra Silva as Commander of the Sri Lankan Army
  • Silva headed the Army’s 58th Division in the final battle against the Liberation Tigers of Tamil Eelam (LTTE) rebels in the final stages of the civil war in 2009
  • Lt Gen Shavendra Silva will take charge as incumbent Army chief Lt Gen Mahesh Senanayake

Science, Space & Technology

  1. IIT-Guwahati Researchers developed lab grown meat
  • Researchers from the IIT-Guwahati (Assam), have developed a fully grown meat in their Biomaterial and Tissue Engineering laboratory. Claimed to be natural, the meat is formulated and is applied for patent rights for production.

Key points

♦The lab grown meat will be an alternative to real meat as UN population prospects that the current meat industry will not be able to meet the global needs by 2050.

♦Patented part: Muscle progenitor cells isolated from animals via small biopsies are patented by the research team where the cells are grown on edible material base.

  1. 11th C-17 Globemaster III Transport Aircraft of Boeing, delivered to IAF
  • American aerospace company Boeing has delivered its 11th C-17 Globemaster III Transport Aircraft to the Indian Air Force(IAF) in order to boost the airlift requirements.
  • With this delivery, Boeing-built operable C-17s around the globe will be a total of 275.
  • Also, Boeing had previously launched C-17 simulator training centre, 2016 which provides training services to the IAF.

Obituary

  1. India’s First Woman DGP Kanchan Chaudhary Bhattacharya passed away
  • The first woman Director General of Police (DGP), Kanchan Chaudhary Bhattacharya, passed away
  • Ms Bhattachary, a 1973 batch IPS officer, made history when she was appointed the DGP of Uttarakhand in the year 2004.
  • She retired on October 31, 2007.

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September 7, 2019

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