DAILY CURRENT AFFAIRS : June 3, 2019

Dear Aspirants,

Daily Current Affairs (June 3, 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.

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NATIONAL NEWS

Flight Lieutenant Mohana Singh became the first IAF woman pilot to fly Hawk jets

Flight Lieutenant Mohana Singh became the first IAF woman pilot to become completely operational by day on Hawk advanced jet aircraft.
She landed the grueling 4 aircraft combat sortie at the Kalaikunda Air Force Station in West Bengal. She was trained to fly air-to-air combat and air-to-ground missions.

About Mohana Singh

Mohana Singh Jitarwal is one of the first female pilots of India.
She was declared as the first combat pilot along with two of her cohorts, Bhawana Kanth, and Avani Chaturvedi.
All three women pilots were inducted into the Indian Air Force fighter squadron in June 2016.

Punjab and Haryana High Court has accorded the status of legal person or entity to animals

The Punjab and Haryana High Court has accorded the status of legal person or entity to animals, granting them the “corresponding rights, duties, and liabilities of a living person”. The Bench also provided guidelines for the accord.

Guidelines:

It has fixed load to be carried by animals and banned their deployment for pulling vehicles inextreme cold and heat conditions.
The use of spike sticks, harness or yoke with spikes, knobs, projections and other sharp instruments were also banned in Haryana, to begin with, for avoiding bruises, swelling, abrasions and severe pain to them.
To avoid inconvenience to animals the court directed the police to ensure that carts driven by animals were given the “right of way”.
Their use was also limited to nine hours a day in the aggregate, and not more than five hours without a break.
It also owners to put fluorescent reflectors in the front and back of their carts and the animals shall also be covered with stripes of fluorescent reflectors for their identification at night.

Telangana State Formation Day was celebrated on 2 June

Telangana was formed on 2nd June in 2014 following the bifurcation of Andhra Pradesh.
A number of cultural events, sports, and social events lined up in the state as part of the celebration.
The celebrations are held in all the 30 districts of the state.

About Telangana:

Founded on: 2 June 2014
Governor: ESL.Narasimhan
Chief Minister: K.Chandrashekar Rao
Capital: Hyderabad

Assam govt hikes parental income limit under fee waiver to Rs 2 Lakhs

Assam govt increased the parent’s annual income of students eligible for fee waiver scheme up to post graduation level from RS 1 Lakh to RS 2 Lakh.
This was announced by Assam education minister Siddhartha Bhattacharya.
This scheme does not cover private colleges and universities in Assam. Children of parents working in state and central government are not eligible.

About Assam:

Capital – Dispur
Chief Minister – Sarbananda Sonowal
Governor – Jagdish Mukhi

INTERNATIONAL NEWS

India, US, Japan and Australia supports ASEAN led architecture mechanism

India, US, Japan, and Australia came together to support ASEAN-led architecture mechanism for a rule-based order to promote the free, open, prosperous and inclusive indo-pacific region in a meeting held at Bangkok, Thailand.
The meeting at Bangkok is to counter China’s military expansion into the Indo-pacific region.

ASEAN – Association of Southeast Asian Nations:

Headquarters: Jakarta, Indonesia
Secretary General: Lim Jock Hoi
Motto: one vision, one identity, one community

ADB and MIGA to expand Development Finance in Asia and Pacific to increase the flow of private sector investment

Asian Development Bank (ADB) and the Multilateral Investment Guarantee Agency (MIGA), the political risk insurance arm of the World Bank Group, have agreed to expand Development Finance in Asia and Pacific to increase the flow of private sector investment.
They signed a Cooperation Agreement which will be effective for 3 years from signing. It replaced t? previous agreement signed between them.
This was signed in line with the 2030 Sustainable Development Goals(SDGs). It will help to encourage more private investment in developing countries.

About ADB:

Headquarters: Mandaluyong, Manila, Philippines
President: Takehiko Nakao
Founded: 19 December 1966
Membership: 68 countries

About MIGA:

Headquarters: Washington DC, US
Founded: 1988
Parent Organization: World Bank

BANKING & FINANCE

KVB to form venture with Centrum Wealth to provide wealth management services

Karur Vysya Bank Ltd (KVB) partnered with Centrum Wealth Management Ltd (Centrum) to form private limited Joint Venture UV to provide wealth management services to its clients.
KVB will hold 51% of the share capital, Centrum will hold 45% and the remaining 4% will be held by the JV’s Staff There will be 5 Board of Directors, of which 3 will be from the bank. ii. Centrum Wealth Management is a unit of Centrum Capital Ltd.
Karur Vysya Bank is an Indian 100 years completed bank and is one of the leading banks in India, headquartered in Karur in Tamil Nadu.
It was set up in 1916 by M. A. Venkatarama Chettiar and Athi Krishna Chettiar.
The bank primarily operates in treasury, corporate/wholesale banking and retail banking segments.

About KVB:

Headquarters: Karur, Tamil Nadu
Managing Director & CEO: Shri P. R. Seshadri

About Centrum:

Founded: 1997 • Founders: Chandir Gidwani & Khushrooh Byramjee.
Executive Chairman: Jaspal Bindra

BUSINESS & ECONOMY

India has lost its spot as the world’s fastest growing economy to China

The Indian economy has lost its spot as the world’s fastest-growing economy to China.
A Reuters survey of economists said that India registered 6.3% annual growth in the January-March quarter, its slowest pace in six quarters. China recorded a growth of 6.4% in the March Quarter.
Indicators like automobile sales, rail freight, petroleum product consumption, domestic air traffic, and imports registered a slowdown in domestic consumption.
ICRA, a rating agency notified that Indian corporate earnings registered a growth of 10.7% during the January-March quarter, it was a six-quarter low growth.
As per economists, the prolonged phase of slower growth was due to stagnant rural wages, rising real interest costs for manufacturers and reluctance to lend among banks and non-bank finance firms due to high defaults.
Retail inflation for the past 6 months was below 3%.

India has 20 health workers per 10,000 people: NSSO study

National Sample Survey Organization (NSSO) data showed that India has 20.6 health workers per 10,000 people. This is less than the World Health Organization’s (WHO) minimum overreach of 22.8 per 10,000 people.
Distribution of health workers:
This is uneven between the urban and rural areas. Rural areas with 71 % of India’s population have only 36% of health workers.
Delhi highest concentration of health workers followed by Kerala, Punjab, and Haryana.

About NSSO:

Founded on: 1950
Headquarters: Delhi

APPOINTMENTS & RESIGNS

Anton Aditya Subowo re-elected as President of Badminton Asia

Indonesia’s Anton Aditya subowo re-elected as president of badminton for another four year period. There were seven people who were selected as the vice-presidents.
India’s Badminton Asia’s president Himanta Biswa Sarma was one among them. 40 countries were voted for the posts of President, Vice President, and Secretary-General.
2019 Badminton Asia Mixed Team Championships officially crowned the best mixed national badminton teams in Asia. Around 11 teams, lacking two teams from the previous edition entered the tournament.

About Badminton Asia:

Headquarters: Kuala Lumpur, Malaysia
President: Anton Aditya Subowo

AWARDS & RECOGNITION

ONGC became India’s most profitable public sector company

Oil and Natural Gas Corp (ONGC), India’s top oil and gas producer, has toppled Indian Oil Corp (IOC) to regain the crown of being the country’s most profitable public sector company.
Oil and Natural Gas Corp (ONGC) reported a 34% jump in its 2018- 19 fiscal net profit to Rs.26,716 crore.
Whereas, IOC registered a net profit of Rs.17.274 crore for the fiscal year ended March 31, 2019.
ONGC, in the previous two financial years, had lost the most profitable PSU tag to IOC.
With its refining margins under pressure due to falling oil prices, IOC had also lost the title of being India’s largest company by turnover tag to billionaire Mukesh Ambani-led Reliance Industries in FY19.

Oil and Natural Gas Corporation (ONGC):

Founded on: 14 August 1956
Headquarters: New Delhi, India
Chairman & MD: Shashi Shankar

GOVERNMENT SCHEMES

Prime Minister Narendra Modi hikes National Defence Fund scholarship assistance

Prime Minister Narendra Modi approved changes to the Prime Minister’s Scholarship Scheme forwards of deceased defense personnel under the National Defence Fund.
The quota of new scholarships for children of state police officials will be 500 in a year. The rates of scholarship have also been increased from Rs. 2000 per month to Rs. 2500 per month for boys and from Rs. 2250 per month to Rs. 3000 per month for girls.
Under the scheme, every year new scholarships are given for 5500 wards of armed forces controlled by the Ministry of Defence, for 2000 wards of paramilitary forces controlled by the Ministry of Home Affairs and for 150 wards of forces controlled by Ministry of Railways.

COMMITTEES & RECOMMENDATIONS

Kasturirangan Committee submitted the draft National Education Policy to the new Union HRD Minister Ramesh Pokhriyal

The K. Kasturirangan Committee submitted the 484-pages draft report of National Education Policy to the new Union Human Resource Development Minister Ramesh Pokhariyal.
The report on the National Education Policy put on the Ministry of Human Resource Development (MHRD)’s website for suggestions from the public till June 30.
The Committee has recommended renaming Ministry of Human Resource Development (MHRD) as Ministry of Education (MoE).
The Draft National Education Policy 2019 is based on the foundational pillars of five components of Access, Equity, Quality, Affordability and Accountability.
The Kasturirangan Committee has also recommended major changes in the curricular and pedagogical structure with Early Childhood Care and Education (ECCE) as an integral part of school education.
The committee also proposed for the extension of Right to Education Act, 2009 to cover children of ages 3 to 18 instead of 6 to 14 years.
The committee has also recommended a 4-year integrated stage-specific B.Ed programme for teachers which will be the minimum degree qualification.

SPORTS NEWS

Under-20 Eurasian Athletics Championship: Indian juniors bagged 5 gold, 3 silver medals

Under-20 Eurasian Athletics Championships held at Almaty, Kazakhstan, Indian juniors bagged 5 gold and 3 silver medals.
The national teams from Kazakhstan, Kyrgyzstan, Uzbekistan, Iran, India, and Tajikistan participated in a 2-day event held on May 29-30, 2019.
Sreekiran bagged the boys’ 800m gold with a time of 1:54.62 while Rohit Yadav added the fifth gold medal to India’s tally, finishing on top in the boys’ javelin throw by clearing a distance of 74.55m.

IMPORTANT DAYS

June 02 – World Clubfoot Day

Ponseti International Association (PIA) has designated June 3rd as World Clubfoot Day. The date was chosen to commemorate the birthdate of Dr. Ignacio Ponseti, (1914-2009) the developer of the Ponseti Method to treat clubfoot.
Clubfoot is the most common musculoskeletal birth deformity, affecting 200,000 newborn children each year, 80 percent in developing countries.
There are also hundreds of thousands of children and young adults who are living with this debilitating condition worldwide.

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