July 28, 2019

National

  1. Railway’s first printing press heritage gallery opened
  • Western Railway has opened the first of its kind printing press heritage gallery at Mahalaxmi in Mumbai. This unique heritage gallery was inaugurated by V P Pathak, member (Materials Management) of the Railway Board during his recent visit to Mumbai.
  • Western Railway Mahalaxmi General Stores Depot (GSD) has become the first in Indian Railways to portray a heritage gallery of the printing and allied machines used in the Western Railway Printing Press.
  1. IIM Calcutta Inks MoU With Two Foreign Universities for research and cultural understanding
  • Indian Institute of Management (IIM) Calcutta has signed two Memorandum of Understanding (MoU) with Carleton University, Canada and Montpellier Business School, France to promote advancement in teaching, research, cultural understanding.

Key points:

♦STEP:  The MoU with both institutions valid for 5 years signed under IIM’s “Student exchange program (STEP)”, which is an integral part of its internationalization efforts aims at providing IIM Calcutta students an opportunity to have learning experience from the international environment.

♦IIM and Carleton University: The reason behind signing MoU with Carleton University to support academic partnerships with the university which include research collaboration, capacity building, executive training, etc.

♦IIM and Montpellier Business School: The purpose of the MoU with Montpellier Business School was to attain a common interest in teaching and research.

♦It aims the exchange of postgraduate and doctoral students, faculty members and academic information and materials. It also involves organizing joint Executive Development Programs, joint research programs, joint conferences and workshops, and other academic exchanges.

State

  1. Goa govt. to launch water taxi replacing old ferry boats in inland waterways
  • Chief Minister(CM) of Goa, Pramod Sawant announced the plan of launching India’s first ever ‘Water Taxis’, between Panaji and Old Goa which will allow people to travel in inland waterways.
  • The old ferries will soon be revamped into solar-powered boats and North Goa will be focused more on water transportation.

International

  1. New India-UK scheme to fund students from UK to visit India
  • A new India-UK bilateral pilot scheme has been launched to support Britain’s universities to collaborate with Indian partners to send UK students to India during their studies.
  • The “UKEIRI Mobility Programme: Study in India”, an initiative of Universities UK International (UUKI) and British Council India.
  • It aims to generate up to 200 opportunities for undergraduate students at UK universities to visit India by March 2021.
  • Priority for the programme to visit India during their courses will be given to students from traditionally underrepresented groups.
  • The Study in India programme will support national and institutional-level objectives to increase the levels of outward student mobility from the UK to 13 per cent by 2020, as set out in UUKi’s “Go International: Stand Out” campaign.
  • The programme will be funded by the UK and Indian governments as part of Phase 3 of the UK-India Education Research Initiative (UKEIRI) and delivered by the British Council, Universities UK International and EdCIL in India.
  1. INS Tarkash reached Saint Petersburg, Russia to take part in the Russian Navy Day parade
  • INS Tarkash which was constructed for the Indian Navy by Russia reached SaintPetersburg, Russia to take part in the Russian Navy Day parade celebrated on 28 July. The Indian delegation is led by Vice Admiral Ajith Kumar,Flag Officer Commanding-in-Chief, Western Naval Command and INS Tarkash.
  • More than 40 ships, 40 planes and helicopters, and a total of 4000 service men will take part in the Navy day celebration.

Banking & Finance

  1. ADB sanctions about Rs 2000 Cr for power projects in Tripura
  • Asian Development Bank has sanctioned 1,925 crore rupees project for upgradation of power generation and distribution in Tripura.
  • The amount was recently sanctioned to the Tripura State Electricity Corporation Limited.
  • The project has been sanctioned for upgrading capacity of 63 MW Rokhia Project to 120 MW at an estimated cost of over 699 crore and modernising Gumti Hydro Electric Project at an estimated cost of nearly 1225 crore rupees.
  • Rokhia project is located at West Tripura district whereas Gumti project is in Gomati district.
  1. SEBI fixes minimum staggered delivery period of 5 days for commodity futures
  • Capital markets regulator SEBI fixed the minimum duration of the staggered delivery period at five working days for all commodity futures in order to bring uniformity in the timeline across exchanges.
  • Staggered delivery period is the duration during which sellers or buyers having open position may submit an intention to give or take the delivery of the contract.
  • At present, there is no uniformity in the length of staggered delivery period for commodity futures contracts across exchanges even for the same commodities.
  • It clarified that the exchanges shall have the flexibility to set higher duration of staggered delivery period for a commodity futures contract after taking into account factors such as historical open interest, volume near expiry etc.
  1. Cars24 gets RBI NBFC license to offer loans against used cars
  • CARS24, an online marketplace for buying and selling used cars has received a license of a Non-banking Finance Company (NBFC) from the Reserve Bank of India (RBI) and will be venturing into the consumer lending business as a separate entity within the Cars24 group.

Key points:

♦With Cars24 Financial Services, it will facilitate vehicle loans to customers as well as finance channel partners to help them expand their businesses.

♦For consumers, the average ticket size of a loan would be Rs 2.5 Lakh- 3 Lakh & channel partners will able to get credit as high as Rs 1crore depending upon their requirement. Customers are allowed to sell their car any time at CARS24 in future to pay back the loan.

♦It will be launching its services in Delhi, Mumbai, and Bengaluru in August 2019.

♦It is targeting loan disbursement worth $25 million (Rs 170 crore) within the first year of its launch.

♦Currently, it operates in more than 35 cities with more than 150 branches. It aims to scale up its presence in over 300 Tier 2,3 and 4 markets by 2021.

Sports

  1. Byju’s replaces Oppo as Team India’s official sponsor: BCCI
  • The Board of Control for Cricket in India (BCCI) announced that Bengaluru-based education and learning app Byju’s, which is owned by Think and Learn Private Limited, has replaced Oppo India as the official Team India sponsor.
  • The deal period will begin from 5 September, 2019 until 31 March, 2022.
  1. CaelebDressel Breaks Michael Phelps’ 100m Butterfly World Record
  • American swimmer CaelebDressel set the new world record in the men’s 100 meter butterfly during the World Championships in Gwangju, South Korea.
  • Dressel came in at 49.50 during the second semi-final in the event, breaking the old record of 49.82 set by Michael Phelps in August 2009.
  • It’s the second world record once held by Phelps to be broken this week.
  1. IOA withdraws from CGF General Assembly to protest dropping of shooting from 2022 CWG
  • The Indian Olympic Association (IOA) withdraws Commonwealth Games Federation(CGF) general assembly meeting to be held in Rwanda in September 2019 to protest against the move of dropping shooting from the 2022 Birmingham Commonwealth Games(CWG).
  • It also withdrew the nomination of its Secretary-General Rajeev Mehta for the election of a regional vice-president as well as that of Namdev Shiragaonkar for Sports Committee member during the meet.
  • The CWG Federation left out shooting from the 2022 Birmingham Games in its Executive Board meeting on June 2019. It recommended the inclusion of three new sports(beach volleyball (men and women), women’s T20 cricket and para-table tennis (men and women)).
  • By removing shooting from 2022 CWG, the medal ranking of India will go down and the total number of medals won will also come down from 66.
  1. Sri Lankan pacer Lasith Malinga retires from ODIs
  • Sri Lankan pacer Lasith Malinga, aged 35, retired from One Day International (ODI) cricket after the first game of the three-match series against Bangladesh which began on July 26, 2019 in Colombo, Sri Lanka. He had retired from test cricket in 2011.

Key Points:

♦He made his ODI debut in 2004.

♦He is the third-highest wicket-taker in ODI cricket with 335 wickets in 219 innings behind Muttiah Muralitharan (523) and Chaminda Vaas (399), both from Sri Lanka.

♦He was Sri Lanka’s highest wicket-taker in the ICC (International Cricket Council) Men’s Cricket World Cup 2019 with 13 wickets from 7 innings.

Appointment & Resignation

  1. Congress leader AdhirRanjanChowdhury appointed PAC Chairman
  • The leader of the Congress party in LokSabha, AdhirRanjanChowdhury was appointed as the Chairman of the Public Accounts Committee (PAC).
  • In the last term, the post was held by Congress leader MallikarjunKharge, who in the recently concluded elections lost from Gulbarga constituency in Karnataka to BJP’s UmeshJadhav.
  • The PAC has 15 members from LokSabha and seven from RajyaSabha. The term of office of members of the committee does not exceed one year at a time.
  1. Priti Patel takes charge as home secretary in Boris Johnson cabinet
  • Priti Patel, an ardent Brexiteer who was among the most vocal critics of Theresa May’s Brexit strategy, took charge as Britain’s first Indian-origin home secretary as part of Prime Minister Boris Johnson’s top team.
  • She replaces Pakistani-origin SajidJavid, who moves to the Treasury department as the first ethnic minority Chancellor of the Exchequer.

Award & Honors

  1. 3rd edition of CSR Journal Excellence Awarded to 6 firms
  • The third edition of Journal Excellence award instituted by The CSR Journal, a digital and print news publication awarded six firms in terms of best practice of Corporate Social Responsibility (CSR). The theme was “India first”
  • These 6 firms were felicitated awards by the Union Minister of State for Home Affairs, KishanReddy.

Awarded firms and their category

♦Tata Power for “Education & Skill Training”.

♦ReNew Powerfor “Women Empowerment & Child Welfare”.

♦YES Bank Ltdfor “Health & Sanitation”.

♦Mahindra & Mahindrafor “Environment”.

♦Hindustan Zinc for “Agriculture & Rural Development”.

♦Aditya Birla Capital Ltd for “Sports”.

Books

  1. Venkaiah Naidu, Vice President of India, released book titled ‘New-Age Technology and Industrial Revolution 4.0’
  • The Vice President of India Shri Venkaiah Naidu released book titled ‘New-Age Technology and Industrial Revolution 4.0’ in New Delhi. It is authored by Rajya Sabha Member, Dr Narendra Jadhav.

Key Points:

♦The launch was co-hosted by The Dialogue, a Delhi based think-tank which works on the intersection of technology, society and public-policy.

♦The book is published by Konark Publishers.

♦It examines various dimensions of the Industrial Revolution 4.0 and analyses the intersection of technology with society and explores the policy response towards enabling a balancing act between the opportunities and challenges posed by the fourth industrial revolution.

Science, Space & Technology

  1. Iran test-launched a medium-range missile Shahab-3
  • Iran test-launched a medium-range ballistic missile inside its borders- Shahab-3. It is derived from a North Korean missile called the Nodong-A and can fly 1,150 to 2,000 kilometers, or up to 1,242 miles, depending on the variant.
  • The test came amid heightened tensions between Iran and the West (US), mainly regarding the safety of commercial shipping in the Persian Gulf and the Strait of Hormuz.
July 28, 2019

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