August 06, 2019

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National

  1. Government revokes Article 370 from Jammu and Kashmir, bifurcates state into two UTs
  • Home Minister Amit Shah introduced the Jammu and Kashmir Reorganisation Bill, 2019 in the RajyaSabha
  • The Bill seeks to make Jammu and Kashmir a Union Territory with Legislature, and Ladakh Union Territory without Legislature.
  • The Jammu and Kashmir Reservation (Second Amendment) Bill, 2019 having provisions of 10 per cent reservation for Economically Weaker Sections of upper caste in the state was also introduced
  • The government also revoked Article 370 which gave special status to Jammu and Kashmir
  • Shah stated that the union territory in Ladakh will have no legislature like Chandigarh. The other union territory of Jammu and Kashmir will have a legislature like Delhi and Puducherry.
  1. President issues Constitution (Application to Jammu and Kashmir) Order 2019
  • The President has issued Constitution (Application to Jammu and Kashmir) Order, 2019. The Order comes into force at once and supersedes Constitution (Application to Jammu and Kashmir) Order 1954 as amended from time to time.
  • The Order adds several clauses to Article 367. These include, the Constituent Assembly of the State shall become Legislative Assembly of the state as mentioned in Clause 2 of the Article.
  • The Governor of the state shall act on the advice of his Council of Minister
  • The order reads that the President, acting on the advice of the Legislative Assembly of the State shall henceforth be construed as references to Governor of Jammu and Kashmir.
  1. Road transport and highways ministry exempts armed force’s armoured, specialised vehicles from BS-VI emission norms.
  • Emission norms of armoured and specialised vehicles of the armed and paramilitary forces will be exempted from BS-VI (Bharat Stage emission standard) from April 1, 2020 onwards as announced by the ministry of road transport and highways.

Key points

♦These vehicles are exempted from BS-VI compliance also.

♦Earlier vehicles used for government purposes were exempted from BS-IV norms in 2017.

♦In 2018, again the government issued a notice that the specialised vehicles used for law and order maintenance purpose be exempted from BS-IV norms till December 31,2019.

Reason for exemption

♦The exemptions are granted to these vehicles because they travel mostly in remote areas only in most challenging operations as well as environments.

♦As special engines are required for high security operations and requirements, engines suitable for the specialised vehicles will require considerable time.

International

  1. Overview of President Ram Nath Kovind’s visit to Benin, Gambia and Guinea
  • President of India Shri Ram Nath Kovind visited Benin, The Gambia and Guinea from 28 July to 3 August, 2019. It was the first ever visit of the Head of State/Head of Government of India to all 3 countries.
  • President announced fresh Line of Credit (LoC) worth $100 million for developmental projects in Benin. It will help to meet its Sustainable Development Goals (SDGs). India and Benin signed 4 Memorandum of Understandings (Mous).
  • President Kovind received the Instrument of Ratification of the International Solar Alliance Framework Agreement from the Gambian President. President inaugurated the exhibitions on Mahatma Gandhi and Khadi at the Ebunjan Theatre in the Gambia to commemorate the 150th birth anniversary of Mahatma Gandhi.
  • India extended a new Line of Credit (LoC) of $170 million for Conakry Water Supply Project.
  • President Conde appreciated the concessional LoC of $35 million from India to Guinea for the construction of two regional hospitals.
  1. Hoverboard inventor Franky zapata crosses English Channel in his second attempt
  • 40 year old Jet powered hoverboard inventor and former jet ski champion Franky zapata of France, crossed the English Channel for the first time within 10days after his first failed attempt.
  • He Started his 22 mile journey at 715 am from Sangatte, Northern France and landed at Saint Margaret’s bay in Dover in around 25 minutes. Previous attempt
  • Franky Zapata made his first attempt to cross the English Channel on 25th July but failed as he fell into the water half-way when he tried to land on a boat for refuelling.
  • Zapata received widespread attention following the annual Bastille Day parade in Paris on 14th July, as he took part in a military display on his futuristic flyboard(hoverboard).
  • The attempt took place exactly 110 years since Louis Blériot made the first powered flight across the Channel in 1909.

About English Channel

♦It is also called as channel. It is the busiestshipping areas in the world and it separates Southern England from Northern France and link the southern part of the North Sea to the Atlantic Ocean.

♦The first person to cross the English Channel by swimming was Captain Matthew Webb in 1875 (in 21hours 45min).

♦Location- between Celtic sea and North Sea.

Banking & Finance

  1. RBI imposes Rs 50 lakh fine on Punjab National Bank
  • The Reserve Bank of India (RBI) has imposed a fine of Rs. 50 lakh on Punjab National Bank for delay in flagging the fraud in the account of Kingfisher Airlines.
  • RBI observed from the fraud monitoring report-1 submitted by Punjab National Bank on July, 10 2018
  • The fine was imposed In exercise of the powers conferred under section 47(A)(1)(c) read with section 46(4)(i) of the Banking Regulation Act, 1949
  • In a separate filing, Bank of Baroda said the RBI has imposed a fine of Rs 50 lakh on it for delay in reporting fraud in an account.

Business & Economy

  1. Walmart tops Euromonitor’s 2019 list of India’s top retailers
  • As per the latest report “Top 100 Retailers in Asia 2019” by market research firm, Euromonitor International, Walmart Inc which acquired Flipkart in 2018($16 Bn deal) has topped the rankings in India for 2018 with Gross Merchandise Volume(GMV) of $14. 49 Bn. Amazon(US) came on the second spot with $9.8 Bn GMV followed by Mumbai based retail company Future Group with $3.8Bn GMV(3rd position) and Reliance Group(4th position ) with $3.6 Bn GMV.

Key points:

♦The Indian list also includes Tata Group(5th) &One 97 Communications’  e-commerce unit, Paytm Mall(6th).

♦For the list of the top 100 retailers in the whole Asian region, Alibaba Group Holding Ltd (China)was ranked first.

♦The report stated that behavioural change in urban households which adopt more modern lifestyles and shopping at large branded retail outlets impacts retailing in the country.

About Walmart:

♦Headquarters: Bentonville, U.S

♦President and CEO, Walmart: Doug McMillon

♦Chairman: Greg Penner

About Euromonitor International:

Sports

  1. Lewis Hamilton wins 7th Hungarian Grand prix, taking his eighth victory of the season
  • Mercedes’ Lewis Hamilton overtook red bull’s Max Verstappen in the final moments of the Formula 1 Hungarian grand prix to win the title. He outpaced max verstappen to the second spot.

Key points

♦This is Lewis Hamilton’s 7th victory at the Hungaroring (motorsport race track in Mogyród, Hungary, where formula 1 Hungarian grand prix is held) and also 81st of his career.

♦Ferrari’s Sebastian Vettel and Charles Leclerc took third and fourth spot respectively.

♦The Hungarian Grand Prix called as Magyar Nagydíj in Hungary.

Appointment & Resignation

  1. Noel Quinn named as the new HSBC’s interim CEO
  • HSBC bank announced that the Chief Executive Officer (CEO) of HSBC John Flint steps down from his post after 1.5years and is to be replaced by NoelQuinn, head of HSBC’s global commercial banking unit, as the new interim CEO.

Key points

♦Chairman of HSBC Mark Tucker informed that this replacement of a new CEO was needed for a change to meet the challenges

♦The lender bank also announced buyback of $1 Billion.

About HSBC

♦HSBC was ranked 7th largest bank in the world in 2018 and the largest in Europe.

♦Headquarters- London, UK.

Sports

  1. Vinesh Phogat wins third successive gold in Warsaw
  • India’s star woman wrestler Vinesh Phogat has bagged gold in women’s 53kg category of the Poland Open wrestling tournament in Warsaw.
  • In the 53 kg category, this was her third consecutive gold, at Grand Prix of Spain and at the Yasar Dogu International at Istanbul, Turkey last month.
  • Vinesh Phogat prevailed 3-2 over local wrestler Roksana in the final of the competition.

Award & Honors

  1. President Kovind honoured with National order of Merit, highest award of Republic of Guinea
  • President Ram NathKovind has been awarded the National order of Merit by the President of Guinea for his exceptional contribution to the advancement of overall relations and development of mutual cooperation between India and Guinea and for promoting friendship and partnership between the people of both the countries.
  • This is the highest award of Republic of Guinea.
  • Three MoUs were signed between the two countries, Cooperation in the Field of Traditional System of Medicine, e- Vidhyabharati – e-AarogyaBharati Network Project and Renewal Energy. President also announced a new Line of Credit of US$ 170 million for Water Supply Project of Conakry city.

Science, Space & Technology

  1. About 3600 Years Old Site found
  • Archaeological Survey of India (ASI) announced that a rural settlement had thrived at Bharati Huda in Jalalpur village in Odisha’s Cuttack district, about 3600 years ago.
  • Inter-University Accelerator Centre (IUAC) discovered the age of the settlement after radiocarbon dating of charcoal samples found at the site.
  • It was also found that residents of this settlement were dependent on agriculture and animal husbandry as attested by the findings of domesticated varieties of rice and jute and evidence of domesticated cattle.

Obituary

  1. Veteran Gujarati journalist Kanti Bhatt passed away
  • Veteran Gujarati journalist, author and columnist Kanti Bhatt has passed away
  • Bhatt started his journalism career in the late 1960s as a financial journalist in Mumbai. He later became a freelance journalist and also wrote columns for various publications
  • As per an estimate, he must have written more than 45,000 articles in his journalistic career.
  • Bhatt was also founding editor of one of the leading Gujarati magazines, Abhiyan, launched with his wife Sheela

Important Days

  1. Lalit Kala Akademi celebrates 65th Foundation Day
  • Lalit Kala Akademi, National Academy of Art, celebrated its 65th Foundation Day in New Delhi today.
  • Lalit Kala Akademi or National Academy of Art was established in New Delhi in 1954 by the government to promote and propagate understanding of Indian art, in and outside the country.
  • The Academy provides scholarships, fellowship programmes and organizes art-related exhibitions in India and overseas. The artwork and painting exhibitions will be open for public till the 12th of this month.

READ IN HINDI

August 7, 2019

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