September 11, 2019

National

  1. DPIIT to launch the Plastic Waste Management Campaign
  • The Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce will launch the Plastic Waste Management Campaign on September 11, 2019.
  • The Campaign will be launched under the Swachhta Hi Sewa 2019.
  • Under the campaign, DPIIT will ensure that the recycling of plastic waste that will be collected on 2 October this year in cement kilns.
  • The move comes after Prime Minister Narendra Modi’s urged the nation to step against Plastic Waste.
  1. Special Investigation Team to reopen seven anti-Sikh riot cases
  • The Special Investigation Team (SIT) has decided to reopen seven anti-Sikh riot cases, where the accused were acquitted.
  • The SIT was set up by the Union Home Ministry.
  • The seven anti-Sikh riot cases were registered in 1984 at various police stations of Delhi – Vasant Vihar, Sun Light Colony, Kalyanpuri, Parliament Street, Connaught Place, Patel Nagar and Shahdara.
  • The SIT has issued public notices to individuals and organizations, asking about information related to the seven cases.
  1. PM Modi, Nepal PM to jointly inaugurate Motihari-Amlekhganj cross border petroleum Pipeline
  • PM Modi and Nepal’s PM K.P.Sharma Oli will jointly inaugurate Motihari-Amlekhgunj cross border petroleum products pipeline through video conference
  • The 69 kms-long pipeline is the first-ever cross-border petroleum product pipeline in the South Asia region
  • The pipeline from Motihari in Bihar to Amlekhgunj in Nepal has been constructed by India in just 15 months.
  • It has been constructed at the cost of around 350 crore rupees which are entirely borne by Indian Oil Corporation.
  1. PM of India & Nepal jointly inaugurate South Asia’s first cross-border petroleum products pipeline from Motihari in India to Amlekhgunj in Nepal
  • Prime Minister (PM) of India Shri Narendra Modi and PM of Nepal K.P. Sharma Oli jointly inaugurated South Asia’s first cross-border petroleum products pipeline of 69-km from Motihari in Bihar, India to Amlekhgunj in Nepal through video conference.

Key Points:

♦It has a capacity of 2 million metric ton per annum.

♦The price of petroleum products will be reduced by Rs. 2 per litre in Nepal.

About Nepal:

♦ Capital: Kathmandu

♦ Currency: Nepalese Rupee

♦ President: Bidhya Devi Bhandari

  1. Defence Secretary Sanjay Mitra to head 3 member panel to look into assets, liabilities of J&K
  • The centre has appointed defence Secretary Shri Sanjay Mitra to head a 3-member panel to look into assets, liabilities of Jammu and Kashmir(J&K) between two successor Union territories(UT) J&K and Ladakh, that comes into effect on October 31, 2019.
  • Background: The centre, announced the withdrawal of the special status granted to Jammu and Kashmir under Article 370 of the Constitution and bifurcation of the state into two UTs on August 5, 2019.
  • Other members of the panel: With Sanjay Mitra being the chairperson, the other members on the panel include, ArunGoyal- retired Indian Administrative Service(IAS) officer. Giriraj Prasad Gupta- Retired Indian Civil Accounts Service (ICAS) officer.
  • Committee: The committee is constituted by the powers conferred by Section 84 and Section 85 of the Jammu and Kashmir Reorganisation Act, 2019. Section 84: J&K assets and liabilities should be apportioned (divided up) between UT of J&K. Section 85: Establishment of one or more Advisory Committees within a period of 90 days of announcement regarding apportion, power supply, financial corporation, companies and institution.

State

  1. 3-Member Committee constituted to oversee bifurcation of Jammu and Kashmir
  • The Union government recently constituted a 3-member committee to oversee the bifurcation of Jammu and Kashmir (J&K) into two Union Territories.
  • The Committee is chaired by former defence secretary Sanjay Mitra.
  • The other members of the Committee are Arun Goyal, retired IAS officer and Giriraj Prasad Gupta, retired Indian Civil Accounts Service officer.
  • The Committee will look into the distribution of assets and liabilities of J&K between two UTs.
  1. Kerala to set up country’s first global trade centre for women
  • In a major initiative to accelerate women entrepreneurship and secure gender parity, Kerala will set up the country’s first International Women’s Trade Centre (iWTC), in consonance with the United Nations Sustainable Development Goals (SDGs), in Kozhikode.
  • A key project of the state’s Gender Park under the Department of Social Justice, it is envisaged as a safe space away from home for women to harness their entrepreneurial capabilities, set up or expand their businesses and get their products marketed globally.
  • The first phase of iWTC, being executed under the Gender Park’s “Vision 2020”, is scheduled to be completed by 2021.
  • While creating a safe and sustainable environment for the growth of industry, business, trade and lifestyle, iWTC will also have a dedicated space for cultural expressions of women to promote and showcase performing arts and cultural forms like dance, music and theatre.
  1. Telangana CM Chandrashekar Rao presents Rs 1.46 lakh crore annual budget for FY 20
  • The Chief Minister(CM) of Telangana, Shri K Chandrashekar Rao presented the annual budget for 2019-20 of Rs 1.46 lakh crore.

Key points

♦Budget presentation: Despite the state finance minister T Harish Rao, the CM himself presented the Budget but it is to be presented in the Legislative Council by Harish Rao.

♦GSDP: The Gross State Domestic Product(GSDP) of the state has increased to Rs 8.65 lakh crore in 2018-19 from Rs 4.51 lakh crore in 2013-14.

♦Revenue receipts: The growth rate is expected to be slowed in terms of revenue receipt, due to which budget is to be pared(reduced) and pegged at about Rs.1.70 lakh crore based on vote-on-account (interim permission to spend money as against a full Budget). The expected revenue surplus is ₹6,564 crores and the fiscal deficit is ₹27,749 crore.

International

  1. International conference on energy efficiency begins in New Delhi
  • An international conference Augmenting Nature by Green Affordable New-habitat (ANGAN) focussed on energy efficiency in the buildings sector began.
  • The Conference is being organised by the Bureau of Energy Efficiency (BEE) under the aegis of the power ministry in collaboration with GIZ under the Indo German Technical Cooperation.
  • The international conference will provide a platform to deliberate on inter-dependence between organizations, sustainability and feedback loops for better resource efficiency.
  • As part of this event, an exhibition on energy efficient building material suppliers, technology suppliers, research institutions and universities displayed latest things in the building energy efficiency sector is also displayed.

Banking & Finance

  1. India Ratings cuts FY20 growth forecast for NBFCs to 10-12%
  • Credit rating agency India Ratings & Research (Ind-Ra) downgraded growth forecast for Non-Banking Financial Companies (NBFC) to 10-12% from the previous estimate of 15% due to slowdown in economic activity. It also revised NBFC’s outlook from stable to ‘negative’ while large ticket Housing Finance Companies (HFCs) are maintained at negative outlook.

Key points

♦Other factors for rate cut: Fall in auto industries’ sales, slowed rural infra activity, challenges faced in the Small and Medium Enterprises (SME) sectors, slowdown in real estate and moderation in refinancing opportunities.

♦End of repayment exemption: The NBFCs providing loans toreal estate companies may further come under pressure in the first half of 2020, when 70,000 crore advances would no longer be preferred as mandatory repayment exemption.

♦Recovery measures: The finance ministry and the Reserve Bank of India(RBI) have also announced recovery measures in August 2019, to provide additional liquidity support of ₹20,000 crores by the National Housing Bank to NBFCs and HFC’s resulting in ₹30,000 crore liquidity.

♦India’s GDP forecast: Recently Ind-Ra had also reduced the Gross Domestic Product(GDP) forecast to 6.7% for FY20 from its previous estimate of 7.3% in August, 2019.

Business & Economy

  1. Government to launch a new Power tariff policy to empower consumers
  • Union Power Minister RK Singh recently announced that the government will soon launch a new power tariff policy to empower the consumers.
  • The new power tariff policy will lay down the Bill of Rights of Consumers.
  • Rights include 24X7 power supply to consumers.
  • In case of any load shedding in power, a penalty will be levied on distribution companies (discoms) and credited into consumers account.
  1. Niti Aayog selected McKinsey & Company to set up India’s first Digital Capability Centre
  • National Institution for Transforming India (Niti Aayog) has selected McKinsey & Company to set up India’s first Digital Capability Centre (DCC). McKinsey & Company supports 5 such centres globally- in Aachen, Chicago, Singapore, Venice and Beijing.

Key Points:

♦The government will act as a facilitator to bring together industry, academia, and research on one platform by forming DCC.

♦DCC is a unique digital manufacturing learning centre offering company leaders and their workforces hands-on experience and workshops in next generation technology.

About McKinsey & Company:

♦ Founded: 1926

♦ Headquarters: New York City, US

Sports

  1. 10 Sri Lankan cricket players decide to stay away from upcoming Pakistan series
  • A total of 10 Sri Lankan cricket players have decided to stay away from the upcoming Pakistan series due to security reasons.
  • The announcement regarding this was made by the Sri Lankan Cricket board.
  • In the Pakistan series, 3 ODIs and 3 T20 matches have been planned for September 2019.
  • These 10 players include Lasith Malinga and Angelo Mathews.
  1. Mo Farah and Brigid Kosgei wins record sixth straight title
  • Kenyan athlete Brigid Kosgei broke the world record for the fastest half-marathon by a woman as she finished the 2019 Great North Run in 1 hour, four minutes and 28 seconds.
  • This was 23 seconds faster than the previous record, set by fellow Kenyan Joyciline Jepkosgei in 2017.
  • In men’s elite race, Mo Farah won the title for a record sixth successive year finishing in 59 minutes 7 seconds.
  • The Great North Run is the biggest half marathon in United Kingdom held annually.
  1. South Africa appoints Former Indian Batsman Amol Muzumpar as interim batting coach in test match against India
  • Former Indian Cricketer Amol Muzumpar has been appointed as South Africa’s Interim batting coach  for three test match against India, starting from October 2. He replaces Dale  Benkenstein , who resigned after the depressing performance in the World Cup 2019. Previously, Muzumpur acted as a batting coach of IPL franchise Rajasthan Royals and domestically played for Mumbai and Assam.
  1. Brazilian tennis player Diego Matos banned life time for match-fixing
  • The 31-year old Brazilian tennis player Diego Matos has been banned for life time because of match fixing and was fined $125,000. Matos was ordered to repay $12,000, received in the tournament of Ecuador. He was suspended from tennis since December 6 2018.

Key Points:

♦Matos ranked 373rd  in doubles, 158th highest single ranking in April 2012

  1. 8th edition of Ladakh Marathon, world’s highest marathon, for 2019 held in Leh, Ladakh
  • The 8th edition of Ladakh Marathon for 2019 was held from September 6-8, 2019 in Leh, Ladakh. It is the highest marathon in the world as it is held at over 11,000 feet above the mean sea level. There were more than 5500 participants from 26 countries.
  • World highest Marathon Khardongla Challenge (72Km) was held on September 06, 2019.
  • It was followed by events held in 3 categories of Full Marathon (42Km), Half Marathon (21Km) and Run of fun (7KM).
  • The 9th Edition which will be held in 2020 will be a qualifying race for the Abbot World Marathon Majors (AWMM). The races for AWMM will be held in Tokyo, Boston, London, Berlin, Chicago and New York City.

Appointment & Resignation

  1. Chinese firm Alibaba Group’s chairman Jack Ma steps down
  • Jack Ma, Founder & Chairman of Chinese firm Alibaba Groups has stepped down from his post at his 55th birthday and will remain on board till 2020. Jack will be replaced by Chief Executive Officer(CEO) Daniel Zhang as its new chairman.
  • Jack Ma, a former English teacher who founded the firm in 1999 which is now worth $460 billion ,was named as China’s richest person in 2018 by Forbes magazine.

Environment

  1. Typhoon Faxai hits Tokyo, Japan
  • Typhoon Faxai has hit Tokyo, Japan. There were winds of up to 216 kilometres (134 miles) per hour. Authorities have issued non-compulsory evacuation warnings to more than 390,000 people.
  • About 100 bullet trains connecting Tokyo with central and western Japanese cities were cancelled.
  • The Rugby World Cup 2019 (9th Edition) is scheduled to be held in Japan from September 20 and the typhoon has affected the preparations.

Important Days

  1. World Suicide Prevention Day 2019 observed on 10th of September
  • World Suicide Prevention Day is observed every year on 10th of September.In order to raise an awareness and prevent from comitting suicide, International Association for Suicide Prevention(IASP)  host this day in collabaration with global partners World Health Organisation(WHO) and World Federation for Mental Health(WFMH) every year, is launching 40 seconds of action Campaign.
  • Today,World Health Organisation(WHO) publication releases ”Preventing Suicide:a resource for pesticide registrars and regulators”.
September 17, 2019

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