DAILY CURRENT AFFAIRS : June 5 & 6, 2019

Dear Aspirants,

Daily Current Affairs (June 5& 6, 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

Yoga Mahotsava was organized in New Delhi

A Two-day Yoga Mahotsava, a Curtain Raiser for International Day of Yoga (IDY) 2019 was organized in New Delhi. It was inaugurated by the Vice-Chairman, NITI AYOG Rajeev Kumar.

Organised by:

The Yoga Mahotsav-2019 was organized by Morarji Desai National Institute of Yoga (MDNIY) under Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH). This is to sensitize the masses for the celebration of IDY 2019.

App launch:

On this occasion Secretary, Ministry of AYUSH Vaidya Rajesh Kotecha announced two Applications related to International Day of Yoga 2019.

1) Yoga Locator which is specially designed for IDY to record and show Yoga events across the world.

2) Bhuvan App which provides geo time location and documentation during IDY 2019. Bhuvan App has been designed in collaboration with ISRO.

Madhya Pradesh Cabinet passes resolution to increase reservation for OBCs to 27%

Madhya Pradesh Cabinet passed a resolution to increase the percentage of reservation quota for Other Backward Classes (OBC) from existing 14 percent to 27 percent.
The move will lead to the reservation in the state breaching the Supreme Court-mandated 50 percent cap to reach 63 percent.
Madhya Pradesh is the only state in the country to have a 27 percent quota for OBCs. Cabinet also increased to 3% the dearness allowance for employees

About Madhya Pradesh

Capital: Bhopal
Chief Minister: Kamal Nath
Governor: Anandiben Patel

Tripura to host 10th National Science Film Festival of India in 2020

The 10th National Science Film Festival of India (NSFFI) organized in Tripura in January and February 2020. The NSF debuted in Chennai eight years ago in 2011.
It covered almost all regions of the country since then including Bhubaneshwar, Kolkata, Bangalore, Lucknow, Mumbai, Guwahati and Mohali. This the second time the show will be held in a North Eastern city.

National Science Film Festival of India (NSFFI)

National Science Film Festival and Competition (Rashtriya Vigyan Chalchitra Mela) is organised by Vigyan Prasar.
The Indian Department of Science and Technology in collaboration with Jahangirabad Media Institute as a part of the Indian Science Congress 2011.

Indian Army commissioned air quality monitor at Fort William as a part of ‘Go Green’ initiative

‘Go Green’ initiative,a “Continuous Ambient Air Quality Monitoring System (CAAQMS)” at Fort William Military Station.
Lt Gen M M Naravane, General Officer Commanding-in-Chief, Eastern Command, commissioned the system, which monitors air pollution on a real time basis.
The CAAQMS at the Eastern Command headquarters will measure air pollution including particulate matter throughout the year.
It also displays wind speed, direction, ambient temperature, relative humidity, solar radiation, barometric pressure and rain gauge. The data can be remotely monitored on internet and collated into various desired formats.

Indian Navy deployed P-8I long range maritime surveillance aircraft for anti-piracy

Indian Navy deployed its P-8I long-range maritime surveillance aircraft for anti-piracy sorties from Salalah in Oman to patrol the Gulf of Aden.
This is the second time the P-8I is operated from Salalah for anti-piracy in 2019. It was operated from there first January. It is an expansion of its Mission Based Deployments (MBD) in the Indian Ocean Region (IOR).

P-8I:
The P-8I provides long-range Maritime Domain Awareness (MDA). The P8I is long-range anti-submarine warfare, surveillance and reconnaissance aircraft capable of broad-area, maritime and littoral operations.
India had placed orders for 12 P-8 India maritime surveillance and anti-submarine warfare from the US under a USD 2.2 billion dollar deal in 2012.
Also, the country had ordered four more planes to carry out extensive surveillance of the Indian Ocean region and the country’s exclusive economic zone.

INTERNATIONAL NEWS

US terminated India’s preferential trade status under GSP programme

Generalized System of Preference (GSP) is the largest and oldest US trade preference programme. India was the largest beneficiary of the GSP programme in 2017 with $5.7 billion in imports to the US given duty-free status.

Reason for US withdrawing India’s GSP benefits:

The move was taken on determining that India has not committed to provide “equitable and reasonable access to its markets” for the US.

US’s trade imbalance with India,
No access to Indian market for US dairy,
Medical device industry and
Issues related to data localisation norms.

On March 4, Trump announced that the US intends to terminate India’s designations as a beneficiary developing country under the GSP programme. The 60-day notice period ended on May 3.

ICA issues first UAE Permanent Residency ‘Golden Card’ in Abu Dhabi

UAE’s Federal Authority for Identity and Citizenship (ICA) has issued the first Golden Residence Permit in Abu Dhabi, as part of the Investors Permanent Residence System aimed to attract investors, entrepreneurs and qualified individuals who meet its criteria.
Brigadier Saeed Salem Al Shamsi, Executive Director of the General Directorate of Residency and Foreigners Affairs in Abu Dhabi, awarded the first permit to investor Yousuf Ali, Board Member of the Abu Dhabi Chamber of Commerce and Industry (ADCCI) and Chairman of the Lulu International Group.

BANKING & FINANCE

Bank Fraud touched unprecedented Rs 71,500 Crore in 2018-19: RBI

The Reserve Bank of India has revealed that over 6,800 cases of bank fraud involving an unprecedented ₹71,500 crore were reported in 2018-19. This is 74% higher than the amount involved in 5,916 such cases reported in 2017-18.
Anti-corruption watchdog Central Vigilance Commission (CVC) made an analysis and reported on top 100 frauds.
The bank frauds were categorised and analysed for 13 sectors, including gem and jewellery, manufacturing and industry, agriculture, media, aviation, service and project, discounting of cheques, trading, information technology, export business, fixed deposits, demand loan and letter of comfort.
Central Bureau of Investigation (CBI) and Enforcement Directorate (ED) are also probing big-ticket bank fraud cases.
In 2018, CBI booked former Aircel promoter C Sivasankaran, in connection with a Rs 600-crore loan fraud in the IDBI.
MD and CEO of Indian Bank, Kishor Kharat (who was then MD and CEO of IDBI Bank) and his counterpart in Syndicate Bank, Melwyn Rego (then deputy managing director in IDBI Bank) along with then Chairman-cum-Managing Director of IDBI Bank M S Raghavan, have been named in the latest FIR filed by the CBI.

BUSINESS & ECONOMY

AAI signs with Boeing to improve airspace utilization

The Airports Authority of India (AAI) signed a technical assistance agreementwith aerospace major Boeing.
The agreement aims to develop an air traffic management roadmap which willimprove airspace utilization and help maintain efficient aircraft operations. The AAI will use guidance in the modernization of the Indian National Airspace System (NAS).
The roadmap is expected to be developed within 18 months and it will be undertaken with a grant from the United States Trade and Development Agency (USTDA).
In this project, Boeing will also work closely with Indian aviation regulator Directorate General of Civil Aviation (DGCA) and other airspace stakeholders like the US-India Aviation Cooperation Program (ACP).

Mahindra Susten partners with Mitsui & Co. Ltd for solar power generation

Mahindra Susten, the private equity division of Mahindra Group, has partnered with Mitsui & Co. Ltd, of Japan. The aim is to jointly develop and operate distributed solar power generationprojects in India.
Mahindra Susten will hold 51% stake in Marvel Solren Private Ltd. with Mitsui holding the rest 49%. It is expected that the collaboration between the two groups would help in targeting India’s industrial and commercial sectors.
Marvel currently operates four solar power projects in the country with a combined capacity of 16 megawatts. The company helps its clients reduce their carbon footprint through long-term purchase agreements that run between 10 to 25 years.
Utilizing Mitsui’s global network, the company aim to expand the business to 150 megawatts by 2023.

GOVERNMENT SCHEMES

Telangana Government enhanced Rythu Bandhu scheme

Telangana government released Rs 6,900 crore for the Rythu Bandhu scheme for Kharif season. The order is mainly passed to the agriculture department.
The government enhanced the Rythu Bandhu scheme Rs 4,000 to Rs 5,000 per acre and decided to release funds in the view of ensuing Kharif season.

About Rythu Bandhu scheme

Rythu Bandhu scheme also Farmers’ Investment Support Scheme (FISS) is a welfare program to support farmer’s investment for two crops a year by the Government of Telangana.
The government is providing 58.33 lakh farmers, ₹4000 per acre per season to support the farm investment, twice a year, for rabi and kharif seasons.
This is a first direct farmer investment support scheme in India.
The scheme was announced by the Chief Minister of Telangana, K. Chandrashekhar Rao at Farmers Coordination Committee (Rythu Samanvaya Samithi) conference at Jayashankar Agriculture University on 25 February 2018.

Delhi government plans free rides for women in Metro and Buses

Delhi government has announced its plan to subsidize travel in public transport for women commuters in the Capital.
The announcement was made by Chief Minister Arvind Kejriwal.

Aim:

The government intends to allow women to travel for free on metro trains and State-run buses by the month of August-September.
The new scheme, which is to be implemented, is to encourage the use of public transport, make it safer and to promote the participation of more women in the city’s workforce currently dominated by their male counterparts.

Beneficiaries:

As many as 8 lakh women constituted the estimated daily commuter force of 25 lakh passengers on the Delhi Metro and around one lakh more were expected to be added.
This step will perhaps add an extra one lakh women passengers to the existing daily ridership. It will also increase the participation of women in the city’s workforce.

Delhi:

Lt. Governor: Anil Baijal
Chief Minister: Arvind Kejriwal
Deputy Chief Minister: Manish Sisodia

APPOINTMENTS & RESIGNS

Flipkart co-founder joins Ujjivan Small Finance Bank as Director

Ujjivan Small Finance Bank appointed Flipkart founder Sachin Bansal as its independent director.
This is the second big futuristic move by Ujjivan management after it roped in HDFC Bank’s digital banking head Nitin Chugh as its next chief executive.

About Ujjivan Small Finance Bank

Founded: 1 February 2017
Founder: Samit Ghosh
Headquarters: Bangalore, Karnataka, India

VP Sivakolundhu elected as Puducherry Assembly Speaker

Deputy Speaker VP Sivakolundhu was elected as the new Speaker of the Puducherry Assembly.
The post fell vacant after Congress’ V Vaithilingamstepped down on March 21 to contest the Lok Sabha election from the lone Union Territory seat of Puducherry, which he won with a margin of 1,96,802 votes against his nearest rival K Narayanasamy of All India NR Congress.
The Congress leader, Sivakolundhu, was the sole contender for the Speaker’s post.

RBI approved the appointment of Rakesh Makhija as chairman of Axis Bank

In March, the board of the Axis bank had approved appointment of Rakesh Makhija as chairman subject to RBI clearance.
Rakesh Makhija, independent director was appointed as the non-executive (part-time) chairman of the bank, for a period of 3 years, with effect from July 18, 2019, up to July 17, 2022.
Rakesh Makhija has held a number of top management positions within the SKF Group. Prior to joining SKF, he was the chief executive officer and managing director of Tata Honeywell Ltd.

IMPORTANT DAYS

World Environment Day – 5 June

World Environment Day (WED) is celebrated on the 5thof June every year, and is the United Nation’s principal vehicle for encouraging awareness and action for the protection of our environment.
First held in: 1974
The theme for 2019 is “Beat Air Pollution“.
2019 host nation is China.

2018:

The theme for 2018 is “Beat Plastic Pollution”. The host nation was India.

OBITUARIES

Actor-Singer Ruma Guha Thakurta Passes Away

Actor-singer Ruma Guha Thakurta, who featured in films such as Jwar Bhata, Ganga and 36 Chowringhee Lane while straddling an equally successful playback career, died aged 84.

NATIONAL NEWS

Government to focus on the allied issue of water under the scheme “Nal se Jal“

Prime Minister Narendra Modi’s new government has shifted its focus to the allied issue of water after the country-wide sanitation drive with the Swachh Bharat Mission comes to an end on October 2, 2019. The focus will is carried out by the Ministry of Jal Shakti.

Ministry of Jal Shakti:

The Ministry is led by Rajasthan MP Gajendra Singh Shekhawat and Ram Lal Kataria will be the Minister of state. The ministry has been formed by merging the Ministry of Water Resources, River Development & Ganga Rejuvenation along with the Ministry of Drinking Water and Sanitation.
The reason for the merger is to bring all aspects of water management and regulation under one department. The introduction of the Jal Shakti Ministry was announced in the interim budget of the NDA government.

Indian Railways ordered for 25 electric locomotives from BHEL

Indian Railways received an order for 25 more energy efficient retrofit electrical locomotives from the public sector Bharat Heavy Electricals Limited (BHEL).
The achievement is significant before Environment Day is being celebrated all over the world. A major technological leap achieved by the BHEL whereby the kinetic energy of the train while in braking mode, is re-converted into electrical energy.
It is a set back into the electric grid of the railways. This energy was being wasted in locomotives in the form of heat. BHEL worked with Indian Railways and supplied 20 electric locomotives last year and 10 more locomotives are being supplied this year.

About Bharat Heavy Electricals Limited (BHEL)
Headquarters: New Delhi
CEO: Atul Sobti

Nirmala Sitharaman to attend G20 Finance Ministers Meeting in Japan

Finance Minister Shri Nirmala Sitharaman attend the two-day meeting of G-20 Finance Ministers and Central Bank governors in Japan on June 8 and 9
It is the first overseas visit of Sitharaman as the Finance Minister.
She took charge as full time finance minister last week. The main aim is to focus on the risks and challenges of overseas trade and investment in infrastructure which are faced by our country.
Organisation for Economic Co-operation and Development (OECD) submit a report on taxation, urging greater cooperation among nations.
India actively participating in the OECD-G20 efforts to create a global consensus on the taxation of the digital economy.

About G 20
Chairperson: Shinzō Abe
Founder: Group of Seven
Founded: 26 September 1999
Purpose : Bring together systemically important industrialized and developing economies to discuss key issues in the global economy

Goa CM Sawant praises Environment Day with ‘Corals and Crabs’

Goa harbors its coral reefs into the lesser known reefs around Grande Island. Goa Goa CM Pramod Sawant explained the occasion of World Environment Day .
He released a book “Corals and Crabs” jointly published by the Forest Department of Goa and WWF-India at the Goa Science Centre Auditorium in Panaji.
Corals and Crabs is a first step towards bridging this existing knowledge gap and bringing amazing marine species found in the reefs of Goa such as Stingrays, Lionfish, Ghost Pipefish, Decorator Crabs and a whole array of Sea Slugs.

About Goa

Capital: Panaji
Governor: Mridula Sinha
Chief Minister: Pramod Sawant

INTERNATIONAL NEWS

China launched a space rocket from the sea for the first time on 5 June

China launched a space rocket from the sea for the first time on 5 June 2019. With this China will be the third nation to successfully demonstrate the ability to launch satellites into orbit from a floating platform following the U.S. and Russia.
In the operation, March 11, a Long rocket was launched from a ship in the Yellow Sea.

Aim:
The first ever seaborne launch technology aims to meet the growing launch demand of low inclination satellites. It is also expected to help China provide launch services for countries participating in the Belt and Road Initiative

Disability Summit, Argentina 2019 is being held Buenos Aires, Argentina

The 2nd Global Disability Summit being held in Buenos Aires, Argentina. ‘Disability Summit, Argentina 2019’, the three-day summit will be held from 6 June to 8 June 2019.
India will be represented by the Minister of Social Justice and Empowerment Thaawar Chand Gehlot.

Organized by:

The Global Disability Summit is organized by International Alliance Disability (IDA), an umbrella organization focused on improving awareness and rights for individuals with disabilities around the globe which was established in 1999, and Latin American Network of Non-Governmental Organizations of Persons with Disabilities and their Families (RIADIS).

Russia launched first Arctic train service

Russia launched its first ever tourist train traveling through Russia’s Arctic region to Norway set off from Saint Petersburg station with 91 passengers aboard for the inaugural trial journey.
The train named “Zarengold” (“The Tsars gold” in German) complete with two restaurant cars travel from Saint Petersburg through Petrozavodsk, the historic town of Kem and Murmansk.
The duration of the trip will be 11 days. The inaugural function consists of 91 tourists from seven countries including the US, Germany, Norway and Russia.

About Russia
Capital: Moscow
Currency: Russian ruble
President: Vladimir Putin

India, Myanmar strengthen ties acting robust against insurgent groups

India maintained strong relations with foreign nations in its quest of counter terrorism. India and Myanmar are the two neighboring countries resulted in much progress
Finally, Myanmar government being on Indian side successfully crackdown Indian groups taking shelter.
The takeover of the NSCN-K headquarters a drastic development as Taga was the collective headquarters of all extremist groups active in the northeast except the Isak-Muivah faction of the NSCN – K ceasefire mode since 1997.

About Myanmar

Capital: Naypyidaw
Largest city: Yangon (Rangoon)
President: Win Myint

BANKING & FINANCE

Tamil Nadu got $287 million World Bank Loan for Healthcare Reform

Tamil Nadu Government (GoTN) and the World Bank signed a $287-million loan agreement for the Tamil Nadu Health System Reform Programme (TNHSRP).
The main aim is to improve the quality of healthcare, reduce the burden of non-communicable diseases (NCDs) and fill equity gaps in reproductive and child health services in the State.
Tamil Nadu is also dealing with a growing burden of NCDs as they account for nearly 69 per cent of deaths in the State.

BUSINESS & ECONOMY

Bank of China starts India operations

Bank of China, one of the four largest state-run commercial banks of China, has started India operations with a maiden branch in Mumbai.
“The launch of Chinese bank in India comes after a series of successful meetings between Indian Prime Minister Narendra Modi and Chinese President Xi Jinping in 2018 to strengthen the strategic engagement between the 2 countries.

BOOKS & AUTHORS

Ashis Ray’s Book On World Cup “Cricket World Cup: The Indian Challenge” Launched

“Cricket World Cup: The Indian Challenge” – a book on the history of the tournament from an Indian perspective by veteran broadcaster and writer Ashis Ray – has been formally unveiled by the chief executive of the England and Wales Cricket Board, Tom Harrison.

AWARDS & RECOGNITION

Pramila Jayapal as first Indian-American woman to preside over US House

Pramila Jayapal first Indian American woman to preside over US house.
She is the first elected to Congress in 2016 preside over the House and served the most diverse Congress in the nation’s history.
She presided over the House as a Temporary Speaker. The House Democrats rotate for the ceremonial position of presiding over the chamber.
She became the first South Asian American woman to preside over the US House of Representatives. A record number of 17 Asian Americans serve in Congress with 14 in the House and three in the Senate house.

Forbes magazine named Rihanna as the world’s richest female musician

Forbes magazine has named Rihanna as the world’s richest female musician.
Rihanna’s Fenty Beauty brand business endeavors have officially made her the richest female musician in the world.
Her worth is estimated at $600m (£472m) which includes revenues made from her fashion and beauty lines in addition to those from her music career.
Forbes reported that the French luxury brand LVMH backs Rihanna’s lucrative cosmetics company, Fenty Beauty. Fenty beauty was launched in 2017. It is worth more than £3bn, from which Rihanna has earned $570m.
In 2012, Rihanna founded the Clara Lionel Foundation. The trust supports health and education efforts in impoverished communities around the world. Harvard University, in February 2017, she was named humanitarian of the year.

Top 5 in Forbes’ list of richest female musicians:

The other singers in Forbes’s list of the top five richest female musicians are:
Madonna stands second place ($570m)
Céline Dion stands third ($450m)
Beyoncé and Barbra Streisand tied in fourth ($400m)
Taylor Swift stands sixth ($360m).

Google Sunder Pichai, Nasdaqs Friedman Receive 2019 Global Leadership Award

Google’s Chief Executive Officer (CEO) Sundar Pichai and Nasdaq President Adena Friedman selected for Global Leadership Awards 2019 by business advocacy group USIBC.
They both are recognized for their companies contribution as the leading technology-driven platforms. Washington-based US-India Business Council (USIBC) gives this award for achievements in over 30 categories for talented people who are recognized for their work by their companies.
The award will be given in ‘India Ideas Summit’ next week. Google and Nasdaq at the vanguard, bilateral trade in goods and services grew by nearly 150% over the past five years to touch $142.1 billion in 2018.

About Google
Founded: 4 September 1998
CEO: Sundar Pichai
Parent organization: Alphabet Inc.
Founders: Larry Page, Sergey Brin

About Nasdaq
CEO: Adena Friedman
Headquarters: New York, United States
Market cap: $10 trillion

SPORTS NEWS

Sidharth Rawat won ITF Mens Future Tennis Title

Sidharth Rawat won his title in the $25,000 ITF men’s Futures tennis tournament. Last year he won with Manish Sureshkumar for doubles.
He is associated with coach Gaurav Sharma for nearly 15 years. He improved his current rank of 510 from 430.
He defeated Shintaro Imai of Japan and Lost to compatriots Vijay Sundar Prashanth and Sasi Kumar Mukund in the other finals matches. The tournament was held in Thailand.

About Sidharth Rawat
Country: India
Current/Highest rank – singles: 510. / 430.
Current/Highest rank – doubles: 590. / 590

OBITUARIES

Veteran Comedian & Theatre Actor Dinyar Contractor Passes Away

Veteran comedian, film and theatre actor Dinyar Contractor passed away aged 79. He had been suffering from various age-related illnesses.
The actor had featured in several Bollywood films including ‘Baadshah’, and ‘Khiladi’ along with television shows like ‘Khichdi’ and ‘Hum Sab Ek Hain’, and was also awarded the Padma Shri in January 2019.