DAILY CURRENT AFFAIRS: APRIL 25, 2019

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Daily Current Affairs (April 25, 2019) like many other sections is inevitable and this also helps to score in the Banking awareness, Static GK and Financial Awareness sections. Remember, Banking Awareness and Static Awareness Questions are asked from the General Awareness section. This will also help you to ride your preparations for the forthcoming exams.

Daily Current Affairs – April 2019

NATIONAL

New Coast Guard vessel to be inducted: ICGS C-441

The newly built Coast Guard vessel ICGS C-441 will be commissioned into the service at Vizhinjam Harbour, Kerala. ICGS C-441 is seventh interceptor vessel amongst the series designed and built indigenously by L & T Surat.
Chief Secretary Tom Jose will commission the ship in a ceremonial function. Inspector General Vijay D. Chafekar, PTM, TM, Commander Coast Guard Region (West), Mumbai will be present during the event.
It has an overall length of 27.8 metres, displacement 106 tonnes and a maximum speed of 45 knots (83 km/hr).

INTERNATIONAL

World’s first malaria vaccine launched in Africa:

The world’s first malaria vaccine has been rolled out in Malawi to protect 360,000 children under two in Malawi, Kenya and Ghana in Sub-Saharan Africa from the mosquito-borne disease that causes 435,000 people global deaths each year.
The vaccine prevents four in 10 cases of malaria in children who received four doses over a four-year period, according to the World Health Organisation (WHO).

Govt extends ban on import of milk products from China:

The government has extended the ban on import of milk and its products, including chocolates, from China till laboratories at ports for testing presence of toxic chemical melamine are upgraded. The recent ban imposed by the government ended on April 23, 2019.
Food regulator FSSAI had recommended extending the ban until all labs at ports are modernised to test the chemical. The ban was first imposed in September 2008 and extended subsequently from time to time.

Kazakhstan sets up coordinating council to attract Indian investments:

Central Asia’s biggest and resource-rich Kazakhstan has set up Coordinating Council for attracting foreign investments including from India.

The Kazakh government held a session to discuss the issues of attracting investments under the chairmanship of the Prime Minister of Kazakhstan Askar Mamin.

The requirement for such task is to increase the volume of investment in fixed assets in the medium term to 30% of (Gross Domestic Product) GDP of the nation and the primary driver should be Foreign Direct Investment (FDI).

Iran, Pakistan to set up border ‘reaction force’ after attacks:

Iran’s President Hassan Rouhani announced that he and visiting Pakistani Prime Minister Imran Khan agreed to set up a joint border “reaction force” to counter terrorism to combat the attacks by militant groups on both sides their frontier.

29th Abu Dhabi International Book Fair: India nominated as Guest of Honour

India has been nominated as the “Guest of Honour” country at the 29th edition of the Abu Dhabi International Book Fair (ADIBF) in UAE.

Indian Ambassador to the UAE, Navdeep Singh Suri said that India’s selection as the guest of honour reflects the strong relations between the leadership and the people of the UAE and India.

BANKING & BUSINESS

RBI divests its entire stake in NABARD and NHB:

Based on the recommendation of the second Narasimham Committee, the Reserve Bank has divested its entire stake in National Housing Bank (NHB) and the National Bank for Agriculture and Rural Development (NABARD).

RBI has said that it sold the entire stake worth twenty crore rupees in NABARD and 1,450 crore rupees in NHB in the last quarter of 2018-19, adding that the government is now cent per cent holder of both these institutions.

RBI approves the proposal of HDFC for holding 9.9% stake in Bandhan Bank:

The Reserve Bank of India (RBI) has given its nod to HDFC Ltd for acquiring up to 9.9 per cent stake in Bandhan Bank following the Gruh Finance deal.

Gruh Finance, the affordable housing finance arm of HDFC Ltd, was taken over by Bandhan Bank in a share-swap deal in January.

RBI first APAC central bank to begin interest rate easing cycle: Fitch

The Reserve Bank of India is the first central bank in the Asia-Pacific region to begin an explicit interest rate easing cycle buoyed by benign food inflation and easier global financial condition, Fitch Ratings said.

The Monetary Policy Committee (MPC), headed by RBI Govenor Shaktikanta Das, cut rates in February and April, citing prospects of benign inflation. In the four months of 2019, the RBI has cut policy interest rates twice by 0.25 per cent each to one-year low of 6 per cent.

Fitch has also estimated India to grow at 6.8% in current fiscal and 7.1% in the next year.

NCLT nod for IndusInd Bank, Bharat financial inclusion merger:

Shares of IndusInd Bank gained 2% after ET Now reported that the National Company Law Tribunal (NCLT) granted approval for IndusInd Bank and Bharat Financial Inclusion Ltd merger.

SEBI reduces the minimum subscription requirement for REITs, InvITs:

Markets regulator SEBI has reduced the minimum subscription requirement as well as defined trading lots for Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs).
REITs have to offer their units in lots worth at least Rs.50,000 in initial and follow on public offers. The minimum value of a single lot should be Rs.1 lakh in the case of InvITs. Further, the leverage limit for InvITs has been increased to 70 per cent from the current 49 per cent.

Kotak Bank launches debit card-based e-mandate on NPCI’s API platform:

Kotak Mahindra Bank has announced the launch of an industry-first debit card-based authentication solution on NPCI’s e-Mandate API platform.

Kotak becomes the first Destination Bank to go live with Net Banking and Debit Card-based e-mandate authentication.
It will enable its customers to create electronic mandates (similar to the erstwhile eNACH with Aadhaar + OTP) via both the Debit Card and Net Banking channels.

BuyUcoin Introduces First Indian Platform for Wholesale Cryptocurrency Trading:

BuyUcoin, which is the second oldest Cryptocurrency Exchange in India, has announced the launch of a new and unique platform for wholesale cryptocurrency trading which allows its users to trade on a large scale with low price fluctuations. The platform currently works on free trading model i.e. charges zero fee on any trade.
This wholesale platform also known as OTC (Over-the-counter) Desk allows users to trade on a large scale with low price fluctuations.

RANKING/REPORTS BY VARIOUS ORGANISATIONS

Pharmaceutical exports rise 11 per cent to $19.2 billion in 2018-19:

The India’s pharmaceutical exports rose by 11 per cent to USD 19.2 billion in 2018-19, mainly driven by higher demand in regions such as North America and Europe, as per a commerce ministry data.
The pharma exports in 2017-18 stood at USD 17.3 billion and USD 16.7 billion in the previous fiscal.
North America constitutes about 30 per cent of Indian pharma exports, followed by Africa and the European Union with 19 per cent and 16 per cent share, respectively, according to the data.

APPOINTMENTS & RESIGNS

Former Dena Bank MD Karnam Sekar appointed as IOB’s new MD & CEO:

Former Dena Bank MD Karnam Sekar is set to take over as the new Managing Director and CEO of Indian Overseas Bank from July 1, 2019.
He will take over from R Subramania Kumar, who was instrumental in taking measures to turn around the bank, which has been reporting losses due to high NPA.

Shri Rajendra Kumar Nayak Took Over as CGDA:

Shri Rajendra Kumar Nayak took over as the 52nd Controller General of Defence Accounts. He is from the Indian Defence Accounts Service of 1983 batch.
He was Additional Controller General of Defence Accounts, Defence Accounts Department, Ministry of Defence.

Wipro BFSI prez Farooq resigns after 5 years at helm:

Shaji Farooq, president of Wipro’s Banking Monetary Services and Insurance (BFSI) business unit, has resigned from the company 5 years after he was increased to the position.
His direct reportee, Angan Guha, will take over as senior VP and global head of the BFSI unit efficient July 1.

Uber Asia Pacific head Amit Jain quits; Pierre-Dimitri Gore-Coty to take over:

Uber’s Asia Pacific head Amit Jain resigned from his post after a stint of four years, just ahead of the ride-hailing giant’s impending public offering. Jain will remain with the company until May 20,2019.

Pierre-Dimitri Gore-Coty, who is currently heading Uber’s rides business in Europe, Middle East, and Africa, will be taking over the additional responsibility of the Asia Pacific Rides business.

AWARDS & HONOURS

Chhetri adjudged ‘Best Sportsperson’ by Calcutta Sports Journalists’ Club:

India football captain Sunil Chhetri was adjudged the country’s ‘Best Sportsperson of the Year’ by the Calcutta Sports Journalists’ Club.
Lifetime Achievement award: Former Davis Cup coach Akhtar Ali, former India opener Arun Lal and Aroon Ghosh member of the 1962 Asian Games gold medal winning football team.
Bengal pacer Ishan Porel (Junior Sportsperson of the Year), Mohun Bagan’s Shilton Paul (Footballer of the Year), East Bengal’s Mahmoud Al-Amna (Best Foreign Footballer)
Best cricketer: Abhimanyu Easwaran
Best Hockey Player: Suprajit Rakshit
Best Athlete (men): Safiqul Mondol
Best Athlete (women): Bhairabi Roy
Best Badminton Player: Ankit Mondal
Best Chess Player: Koustav Chatterjee
Best Swimmer: Sayani Ghosh
Best TT player: Ayhika Mukharjee
Best Tennis Player: Yubarani Banerjee
Best Shooter: Mehuli Ghosh
Best Basketball Player: Madhu Kumari
Best Volleyball Player: Nayanika Biswas

BOOKS & AUTHORS

Konkani translation of Indian Constitution released:

A Konkani translation of the Indian Constitution has been released by the Mangaluru Bishop Peter Paul Saldanha at the Rosario cathedral Mangalore, Karnataka. The book has been brought out by the Mangaluru diocesan commission, led by its convener Fr J B Crasta.
The translation has been done by Prof Stephen Quadros Permude, who has authored several books in Konkani.

IMPORTANT EVENTS OF THE DAY

International Day of Multilateralism and Diplomacy for Peace: 24th April

On April 24th 2019, the first official International Day of Multilateralism and Diplomacy for Peace will be celebrated and the General Assembly will convene a one-day high-level plenary meeting PDF to commemorate and promote the day.

OBITUARY

Grand Duke Jean of Luxembourg dies aged 98:

Grand Duke Jean of Luxembourg has died at the age of 98 due to pulmonary infection.
In 1963, he became the sixth Grand Duke of Luxembourg, held the position nearly 36 years and abdicated in 2000 in favour of his son Henri.

Veteran Lady Mountaineer of the country Rama Sengupta Paul passed away aged 66:

Veteran Lady Mountaineer Rama Sengupta Paul passed away at the age of 66 at a city hospital due to cardiac arrest.
She led the first successful all-women expedition to Kedarnath Dome in Garhwal Himalaya which was organized by Himalayan Association to commemorate the International Year of Women in 1975.

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