Current Affairs February 2nd - 9th

February 10, 2020      0
Current Affairs 2020, February 2nd– February 9th National News 1.       Madhya Pradesh grabs first position for implementation of PMMVY ·         Madhya Pradesh’s Minister for Women and Child Development,   Imarti Devi and Principal Secretary Anupam Rajan received the award from Union Minister of Women and Child Development Smriti Irani for the implementation of Pradhan Mantri Matru Vandana Yojana in the state of Madhya Pradesh. ·         Indore has been ranked at first place among the districts for better performance of the scheme.   2.       Task force constituted by Government of India to restrict Novel Coronavirus ·         A task force has been constituted by the Government of India to restrict the Novel Coronavirus outspread in India. ·         Health Minister Dr Harsh Vardhan, External Affairs Minister S Jaishankar Minister of State for Home Affairs G Kishan Reddy and Civil Aviation Minister Hardeep Singh Puri are the members of the task force.   3.       GOI appoints M Ajit Kumar as chairman of CBIC ·         The government of India has appointed M Ajit Kumar as chairman of the Central Board of Indirect Taxes and Customs. ·         The Appointments Committee of the Cabinet has approved the appointment.   4.       Ajay Bisaria becomes India’s next Ambassador to Canada ·         Ajay Bisaria has been appointed as the next High Commissioner of India to Canada. ·         He is presently serving as High Commissioner of India to Pakistan. He will replace Vikas Swarup.   5.       11th Def Expo 2020 to be held in Lucknow ·         The 11th edition of the biennial mega defence exhibition, DefExpo 2020, will begin on 5 February at Lucknow in Uttar Pradesh. ·         The main theme of DefExpo India-2020 will be “India: the emerging defence manufacturing hub”.   6.       Coastal Security Exercise ‘MatlaAbhiyaan’ conducted by Indian Navy ·         The Indian Navy conducts a coastal security exercise named ‘Malta Abhiyan’ in Kolkata, West Bengal. ·         The exercise, named after Malta River, aims to interact with coastal communities to spread awareness on coastal security and understand the navigational complexities in the Sunderban deltaic waters.   7.       India’s biggest rural technical festival ‘Antahpragnya 2020’ kicks off ·         India’s biggest rural technical festival titled ‘Antahpragnya 2020’ held in Rajiv Gandhi University of Knowledge Technologies (RGUKT), Basar, Nirmal District, Telangana. ·         The theme for the year 2020 was “Spot and encourage rural tech innovators”.   8.       GOI unveils new vaccine to control classical swine fever ·         The government of India unveiled a new indigenously developed vaccine for controlling classical swine fever (CSF). ·         CSF is a highly contagious fatal pig disease. The new vaccine, developed by Uttar Pradesh-based Indian Council of Agricultural Research (ICAR)-Indian Veterinary Research Institute (IVRI), will be much cheaper than the existing one.   9.       5 IIITs to get the status of Institution of National Importance ·         The Union Cabinet chaired by Prime Minister Narendra  Modi has approved to bestow the status of Institution of National Importance to the five Indian Institutes of Information Technology (IIITs). ·         The status will be provided with the inception of the Indian Institutes of Information Technology Laws (Amendment) Bill, 2020. ·          The bill will provide the status of Institutions of National Importance to the remaining five IIITs along with the existing 15 IIITs in PPP mode. ·         The 5 IIITs in PPP mode includes IIITs in Bhopal, Raichur, Bhagalpur, Agartala and Surat.   10.   SC notify all states to established Gram Nyayalayas ·         The Supreme Court has directed the states to establish Gram Nyayalayas within four weeks’. ·         Gram Nyayalayas are mobile village courts established under Gram Nyayalayas Act, 2008.   11.   ‘Pink City’ becomes certified UNESCO World Heritage City ·         Jaipur “The Pink City” has been certified by the United Nations Educational Scientific and Cultural Organisation (UNESCO) as the World Heritage site. ·         The certification was done by the UNESCO Director General Audrey Azoulay during an event held in Jaipur, Rajasthan. ·         As part of certification, the World Heritage City certificate was handover by UNESCO Director General to Minister of Urban Development Shanti Dhariwal.   ECONOMY 1.       Paytm launches Android POS device for SMEs & merchant partners ·         Paytm has launched an Android POS device for small and medium businesses (SMEs) & merchant partners. ·         The android based device will enable the merchants to accept payments in various ways like debit and credit cards, Paytm Wallet, UPI-based apps and cash.   2.       Indian Oil &Phinergy to jointly make metal-air batteries in India ·         Indian Oil has picked up a minority equity stake in Israel’s battery developer Phinergy to jointly set up a facility in India to manufacture metal-air batteries for electric vehicles. ·         This collaboration helps in the field of Al-Air battery system including research & development, customization, manufacturing, assembly, sale and service of aluminium-air energy systems technology.   3.       Eastern Railways partners with Amazon India to set up kiosk ·         Eastern Railways has partnered with Amazon India to set up a pick-up kiosk at the Sealdah railway station in Kolkata, West Bengal. ·         This follows after the successful pilot of pickup kiosks in four railway stations across Mumbai in 2019. A kiosk is a small open-fronted hut or cubicle from where newspapers, refreshments, tickets, etc. will be sold.   4.       Prime Minister of India sets target at DefExpo of 5 billion dollar USD in upcoming 5 years ·         Prime Minister of India Shri Narendra Modi has stated that NDA government set a defense export target of 5 billion dollars in the upcoming five years. ·         The export of defense equipment from India was about 2,000 crore rupees. In the past 2 years, it has gone up to 17,000 crore rupees.   5.       HAL & Israel Aerospace Industries to jointly make armed UCAVs ·         Hindustan Aeronautics Limited (HAL) for the 1st time will sign a partnership pact with Israel Aerospace Industries (IAI) at the DefExpo 2020 in Lucknow, Uttar Pradesh. ·         This pact is signed for manufacture advanced Unmanned Combat Aerial Vehicles (UCAVs) in India.   6.       DICGC increases the insurance coverage for depositors to 5 lakh ·         Deposit Insurance and Credit Guarantee Corporation (DICGC) increases the insurance coverage for depositors in all insured banks from Rs 1 lakh to 5 lakh with effect from February 4, 2020, with the approval of Government of India. ·         The rate of premium payable by the insured banks will be raised from 10 paise per Rs 100 of assessable deposits to 12 paise per Rs100 of assessable deposits per annum.   7.       Union Cabinet Approves Amendments to Banking Regulation Act to regulate co-operative banks ·         The Union Cabinet has approved amendments to the Banking Regulation Act to empower India’s Central Bank (Reserve Bank of India) to have better control over urban co-operative banks and multi-state cooperative banks. ·         These amendments will apply to the urban co-operative banks and multi-state cooperative banks. Presently, cooperative banks are governed by dual control of cooperative societies as well as the Reserve Bank of India. ·         While the role of cooperative society includes incorporation, registration, management, recovery, audit, supersession of board of directors and liquidation, the central bank’s role is responsible for regulatory functions.   8.       RBI’s 6th Bi-monthly Monetary Policy 2019-20 released: RBI keeps repo rate unchanged at 5.15% ·         The Reserve Bank of India’s Monetary Policy Committee has released its 6th Bi-monthly Monetary Policy 2019-20. The Reserve Bank of India’s MPC has decided to keep the policy repo rate unchanged to 5.15%. ·         The MPC has also decided to maintain the accommodative stance of monetary policy to revive growth, while ensuring that inflation remains within the target.   The key decisions taken in the 6th Bi-Monthly Monetary Policy Committee meeting are:   ·         The repo rate under the liquidity adjustment facility (LAF) left unchanged to 5.15%. ·         The reverse repo rate under the LAF stands same i.e. 4.90%. ·         The marginal standing facility (MSF) rate and the Bank Rate also remains same i.e. 5.40%. ·         RBI has increased the real GDP growth for fiscal year 2020-21 from 5% to 6%.   9.       Fitch forecasts India’s GDP growth at 5.6% for Financial Year 2021 ·         Fitch Ratings has estimated India’s GDP growth of 5.6% in the next FY21 in its India Economic Outlook. ·         This forecast is lower than the projection made by the government’s Economic Survey. For the current fiscal 2019-20 (FY 20), GDP is projected at 4.6%. ·         Fitch has also estimated that in the fiscal year 2022, government debt will remain 70% of total GDP.   10.   Jeff Weiner to step down as the Chief Executive Officer of LinkedIn Corporation ·         LinkedIn Corp. Chief Executive Officer Jeff Weiner is stepping down in the role. Jeff Weiner will become executive chairman after 11 years as CEO of the Microsoft-owned business. ·         Ryan Roslansky, senior vice president of product, will become CEO as of June 1. ·         Roslansky has been at LinkedIn for more than 10 years. ·         He will report to Microsoft CEO SatyaNadella and join Microsoft’s senior leadership team.   11.   IOC signs 1st term contract for Russian crude oil ·         Indian Oil Corp (IOC) and Russian Rosneft signed 1st term contract for importing 2 Million Metric Tonnes of Urals grade crude oil to India for the year 2020. ·         India is the 3rd largest Energy Consumer in the world; India imports globally 83% of oil to meet its oil need. ·         India has to enlarge its sources for oil imports away from the Middle East oil-producing countries.   12.   Minimum net worth for pension fund managers has been raised to Rs 50 cr by PFRDA ·         The minimum net worth criterion for pension fund managers has been raised from Rs 25 crore to Rs 50 crore by the Pension Fund Regulatory and Development Authority (PFRDA). ·         This will bring pension funds on par with mutual funds which have to meet a minimum net worth requirement of Rs 50 crores as per Securities and Exchange Board of India (SEBI) rules.   13.   WhatsApp receives NPCI’s approval  to expand its UPI project to 10 million users ·         The instant messaging platform “WhatsApp” has received the National Payments Corporation of India’s approval to expand its Unified Payment Interface (UPI) services to 10 million users through “WhatsApp Pay”.     Current Affairs  February 2nd  -  9th

Current Affairs

2020, February 2nd– February 9th

National News

1.       Madhya Pradesh grabs first position for implementation of PMMVY

·         Madhya Pradesh’s Minister for Women and Child Development,   Imarti Devi and Principal Secretary Anupam Rajan received the award from Union Minister of Women and Child Development Smriti Irani for the implementation of Pradhan Mantri Matru Vandana Yojana in the state of Madhya Pradesh.

·         Indore has been ranked at first place among the districts for better performance of the scheme.

 

2.       Task force constituted by Government of India to restrict Novel Coronavirus

·         A task force has been constituted by the Government of India to restrict the Novel Coronavirus outspread in India.

·         Health Minister Dr Harsh Vardhan, External Affairs Minister S Jaishankar Minister of State for Home Affairs G Kishan Reddy and Civil Aviation Minister Hardeep Singh Puri are the members of the task force.

 

3.       GOI appoints M Ajit Kumar as chairman of CBIC

·         The government of India has appointed M Ajit Kumar as chairman of the Central Board of Indirect Taxes and Customs.

·         The Appointments Committee of the Cabinet has approved the appointment.

 

4.       Ajay Bisaria becomes India’s next Ambassador to Canada

·         Ajay Bisaria has been appointed as the next High Commissioner of India to Canada.

·         He is presently serving as High Commissioner of India to Pakistan. He will replace Vikas Swarup.

 

5.       11th Def Expo 2020 to be held in Lucknow

·         The 11th edition of the biennial mega defence exhibition, DefExpo 2020, will begin on 5 February at Lucknow in Uttar Pradesh.

·         The main theme of DefExpo India-2020 will be “India: the emerging defence manufacturing hub”.

 

6.       Coastal Security Exercise ‘MatlaAbhiyaan’ conducted by Indian Navy

·         The Indian Navy conducts a coastal security exercise named ‘Malta Abhiyan’ in Kolkata, West Bengal.

·         The exercise, named after Malta River, aims to interact with coastal communities to spread awareness on coastal security and understand the navigational complexities in the Sunderban deltaic waters.

 

7.       India’s biggest rural technical festival ‘Antahpragnya 2020’ kicks off

·         India’s biggest rural technical festival titled ‘Antahpragnya 2020’ held in Rajiv Gandhi University of Knowledge Technologies (RGUKT), Basar, Nirmal District, Telangana.

·         The theme for the year 2020 was “Spot and encourage rural tech innovators”.

 

8.       GOI unveils new vaccine to control classical swine fever

·         The government of India unveiled a new indigenously developed vaccine for controlling classical swine fever (CSF).

·         CSF is a highly contagious fatal pig disease. The new vaccine, developed by Uttar Pradesh-based Indian Council of Agricultural Research (ICAR)-Indian Veterinary Research Institute (IVRI), will be much cheaper than the existing one.

 

9.       5 IIITs to get the status of Institution of National Importance

·         The Union Cabinet chaired by Prime Minister Narendra  Modi has approved to bestow the status of Institution of National Importance to the five Indian Institutes of Information Technology (IIITs).

·         The status will be provided with the inception of the Indian Institutes of Information Technology Laws (Amendment) Bill, 2020.

·          The bill will provide the status of Institutions of National Importance to the remaining five IIITs along with the existing 15 IIITs in PPP mode.

·         The 5 IIITs in PPP mode includes IIITs in Bhopal, Raichur, Bhagalpur, Agartala and Surat.

 

10.   SC notify all states to established Gram Nyayalayas

·         The Supreme Court has directed the states to establish Gram Nyayalayas within four weeks’.

·         Gram Nyayalayas are mobile village courts established under Gram Nyayalayas Act, 2008.

 

11.   ‘Pink City’ becomes certified UNESCO World Heritage City

·         Jaipur “The Pink City” has been certified by the United Nations Educational Scientific and Cultural Organisation (UNESCO) as the World Heritage site.

·         The certification was done by the UNESCO Director General Audrey Azoulay during an event held in Jaipur, Rajasthan.

·         As part of certification, the World Heritage City certificate was handover by UNESCO Director General to Minister of Urban Development Shanti Dhariwal.

 

ECONOMY

1.       Paytm launches Android POS device for SMEs & merchant partners

·         Paytm has launched an Android POS device for small and medium businesses (SMEs) & merchant partners.

·         The android based device will enable the merchants to accept payments in various ways like debit and credit cards, Paytm Wallet, UPI-based apps and cash.

 

2.       Indian Oil &Phinergy to jointly make metal-air batteries in India

·         Indian Oil has picked up a minority equity stake in Israel’s battery developer Phinergy to jointly set up a facility in India to manufacture metal-air batteries for electric vehicles.

·         This collaboration helps in the field of Al-Air battery system including research & development, customization, manufacturing, assembly, sale and service of aluminium-air energy systems technology.

 

3.       Eastern Railways partners with Amazon India to set up kiosk

·         Eastern Railways has partnered with Amazon India to set up a pick-up kiosk at the Sealdah railway station in Kolkata, West Bengal.

·         This follows after the successful pilot of pickup kiosks in four railway stations across Mumbai in 2019. A kiosk is a small open-fronted hut or cubicle from where newspapers, refreshments, tickets, etc. will be sold.

 

4.       Prime Minister of India sets target at DefExpo of 5 billion dollar USD in upcoming 5 years

·         Prime Minister of India Shri Narendra Modi has stated that NDA government set a defense export target of 5 billion dollars in the upcoming five years.

·         The export of defense equipment from India was about 2,000 crore rupees. In the past 2 years, it has gone up to 17,000 crore rupees.

 

5.       HAL & Israel Aerospace Industries to jointly make armed UCAVs

·         Hindustan Aeronautics Limited (HAL) for the 1st time will sign a partnership pact with Israel Aerospace Industries (IAI) at the DefExpo 2020 in Lucknow, Uttar Pradesh.

·         This pact is signed for manufacture advanced Unmanned Combat Aerial Vehicles (UCAVs) in India.

 

6.       DICGC increases the insurance coverage for depositors to 5 lakh

·         Deposit Insurance and Credit Guarantee Corporation (DICGC) increases the insurance coverage for depositors in all insured banks from Rs 1 lakh to 5 lakh with effect from February 4, 2020, with the approval of Government of India.

·         The rate of premium payable by the insured banks will be raised from 10 paise per Rs 100 of assessable deposits to 12 paise per Rs100 of assessable deposits per annum.

 

7.       Union Cabinet Approves Amendments to Banking Regulation Act to regulate co-operative banks

·         The Union Cabinet has approved amendments to the Banking Regulation Act to empower India’s Central Bank (Reserve Bank of India) to have better control over urban co-operative banks and multi-state cooperative banks.

·         These amendments will apply to the urban co-operative banks and multi-state cooperative banks. Presently, cooperative banks are governed by dual control of cooperative societies as well as the Reserve Bank of India.

·         While the role of cooperative society includes incorporation, registration, management, recovery, audit, supersession of board of directors and liquidation, the central bank’s role is responsible for regulatory functions.

 

8.       RBI’s 6th Bi-monthly Monetary Policy 2019-20 released: RBI keeps repo rate unchanged at 5.15%

·         The Reserve Bank of India’s Monetary Policy Committee has released its 6th Bi-monthly Monetary Policy 2019-20. The Reserve Bank of India’s MPC has decided to keep the policy repo rate unchanged to 5.15%.

·         The MPC has also decided to maintain the accommodative stance of monetary policy to revive growth, while ensuring that inflation remains within the target.

 

The key decisions taken in the 6th Bi-Monthly Monetary Policy Committee meeting are:

 

·         The repo rate under the liquidity adjustment facility (LAF) left unchanged to 5.15%.

·         The reverse repo rate under the LAF stands same i.e. 4.90%.

·         The marginal standing facility (MSF) rate and the Bank Rate also remains same i.e. 5.40%.

·         RBI has increased the real GDP growth for fiscal year 2020-21 from 5% to 6%.

 

9.       Fitch forecasts India’s GDP growth at 5.6% for Financial Year 2021

·         Fitch Ratings has estimated India’s GDP growth of 5.6% in the next FY21 in its India Economic Outlook.

·         This forecast is lower than the projection made by the government’s Economic Survey. For the current fiscal 2019-20 (FY 20), GDP is projected at 4.6%.

·         Fitch has also estimated that in the fiscal year 2022, government debt will remain 70% of total GDP.

 

10.   Jeff Weiner to step down as the Chief Executive Officer of LinkedIn Corporation

·         LinkedIn Corp. Chief Executive Officer Jeff Weiner is stepping down in the role. Jeff Weiner will become executive chairman after 11 years as CEO of the Microsoft-owned business.

·         Ryan Roslansky, senior vice president of product, will become CEO as of June 1.

·         Roslansky has been at LinkedIn for more than 10 years.

·         He will report to Microsoft CEO SatyaNadella and join Microsoft’s senior leadership team.

 

11.   IOC signs 1st term contract for Russian crude oil

·         Indian Oil Corp (IOC) and Russian Rosneft signed 1st term contract for importing 2 Million Metric Tonnes of Urals grade crude oil to India for the year 2020.

·         India is the 3rd largest Energy Consumer in the world; India imports globally 83% of oil to meet its oil need.

·         India has to enlarge its sources for oil imports away from the Middle East oil-producing countries.

 

12.   Minimum net worth for pension fund managers has been raised to Rs 50 cr by PFRDA

·         The minimum net worth criterion for pension fund managers has been raised from Rs 25 crore to Rs 50 crore by the Pension Fund Regulatory and Development Authority (PFRDA).

·         This will bring pension funds on par with mutual funds which have to meet a minimum net worth requirement of Rs 50 crores as per Securities and Exchange Board of India (SEBI) rules.

 

13.   WhatsApp receives NPCI’s approval  to expand its UPI project to 10 million users

·         The instant messaging platform “WhatsApp” has received the National Payments Corporation of India’s approval to expand its Unified Payment Interface (UPI) services to 10 million users through “WhatsApp Pay”.

 

 

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