DAILY CURRENT AFFAIRS : November 27, 2019

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NATIONAL NEWS

Indian Army inducts Israel made Anti Tank Guided Missiles Spike along LoC in J&K

The Indian Army has inducted Israel made Anti Tank Guided Missiles Spike along the LoC in the northern command theatre in Jammu and Kashmir to bolster defence along the border with Pakistan.

Known as the “fire and forget” missiles, Spike are portable by men and are powerful enough to destroy tanks and bust bunkers within four kilometres.

ISRO launches India’s latest earth observation satellite Cartosat-3 successfully

The national space agency ISRO launched the latest Earth observation satellite, Cartosat-3 successfully this morning.
The workhorse rocket PSLV in its C-47 version carried it along with 13 other customer payloads into the intended polar sun-synchronous orbit.
The launch vehicle was ignited from the second launch pad of the Satish Dhawan Space Centre at Sriharikota in Andhra Pradesh

Cabinet approves MoUs signed between India & Saudi Arabia

Cabinet approves MoUs signed between India and Saudi Arabia in the field of combating illicit trafficking and smuggling of Narcotic Drugs, Psychotropic Substances
Cabinet approves Post Facto the Agreement on establishment of Strategic Partnership Council between India and Saudi Arabia
Cabinet approves Agreement and Protocol between India and Chile for the avoidance of double taxation.

Cabinet approves India’s Approach to UN Climate Change Conference to be held in Spain next week

Cabinet approves extension of the term and coverage of the Fifteenth Finance Commission and submission of two reports by the Finance Commission
Cabinet approves extension of norms for mandatory packaging in jute materials.
Cabinet approves waiver of repayment of loan and interest thereon, worth over Rupees Four crore, outstanding against the Sikkim Mining Corporation.
Cabinet approves big increase in the authorized capital of Food Corporation of India from Rs. 3,500 crore to Rs.10,000 Crores.

Fadnavis resigns as Maharashtra CM ahead of floor test

Newly sworn-in Chief Minister of Maharashtra Devendra Fadnavis resigned today after the resignation of Deputy Chief Minister and NCP leader Ajit Pawar, reducing the BJP-led government to a minority.
Devendra Fadnavis’ resignation, BJP MLA Kalidas Kolambkar took oath as the pro-tem speaker of the Legislative Assembly.

Govt plans to merge 2 UTs — Daman and Diu, Dadra and Nagar Haveli; Bill introduced in Lok Sabha

The government on Tuesday introduced in the Lok Sabha a Bill to merge two Union Territories – Daman and Diu, and Dadra and Nagar Haveli into one.

The proposed legislation – The Dadra and Nagar Haveli and Daman and Diu (Merger of Union Territories) Bill 2019 was introduced in the Lok Sabha by Union Minister of State for Home G Kishan Reddy.

The country currently has nine Union Territories after the creation of the UTs of Jammu and Kashmir, and Ladakh. However, with the merger of Daman and Diu, and Dadra and Nagar Haveli, the number of UTs will come down to eight.

Parliament passes National Institute of Design (Amendment) Bill

Parliament has passed the National Institute of Design (Amendment) Bill, 2019, with the Lok Sabha approving it today.
The Rajya Sabha has already passed the bill.
It seeks to amend the National Institute of Design Act, 2014, which declares the National Institute of Design, Ahmedabad as an institution of national importance.
It also seeks to declare four National Institutes of Design located at Amaravati in Andhra Pradesh, Bhopal in Madhya Pradesh, Jorhat in Assam and Kurukshetra in Haryana as institutions of national importance.

International News

Pakistan’s Supreme Court suspends Pakistan Army Chief extension

Pakistan’s Supreme Court today suspended the decision to grant a three-year term extension to Army chief General Qamar Javed Bajwa.
The move came just ahead of 59-year-old Bajwa’s retirement on November 29.
Prime Minister Imran Khan had approved an extension to the tenure of General Bajwa for another three years, citing the regional security environment.

6.4 magnitude quake shakes Albania

A strong 6.4 magnitude earthquake shook Albania early today, injuring at least 150 people and damaging buildings. There were no immediate reports of any deaths.
The US Geological Survey said, the quake was centered 30 kilometers northwest of the capital, Tirana. It was at a depth of 20 kilometers.

Albania Capital : Tirana
Currency : Albanian Lek

Shiv Sena chief Uddhav Thackeray stakes claim to form govt in Maharashtra

Shiv Sena-NCP-Congress combine’s Chief Ministerial candidate Uddhav Thackeray staked claim to form government in Maharashtra.
Having been elected as the common nominee of the three parties for the top post, Mr Thackeray last night reached Raj Bhavan to meet Governor Bhagat Singh Koshyari and staked claim for the “Maharashtra Vikas Aghadi”.

Madhya Pradesh’s Devi Ahilya University gets A grade from NAAC

The Indore-based Devi Ahilya University has added another feather in its cap by becoming Madhya Pradesh’s first varsity to be accorded A grade by the National Assessment and Accreditation Council (NAAC).

The Centre of higher learning now became entitled to several other facilities. It may introduce courses recognised by the University Grants Commission without the latter’s permission besides commencing open distance-learning courses.

Uttar Pradesh govt to set up state’s 1st vulture conservation

In a major step to conserve the endangered vulture population, the Uttar Pradesh government will set up state’s first vulture conservation and breeding centre in farenda area of Maharajganj district.
Environment Minister had recently told the Parliament that There has been a sharp decline in the population of vultures in the country which has come down from 40 million to 19,000 in a span of over three decades.

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Uttar Pradesh Capital : Lucknow
Uttar Pradesh CM : Yogi Adityanath
Governor : Anandiben Patel

Russia hopes to agree a new S-400 missile deal with Turkey next year

Russia hopes to seal a deal to supply Turkey with more S-400 missile systems in the first half of next year, the head of Russian state arms exporter Rosoboronexport, Alexander Mikheev.
Turkey’s purchase of the S-400 missiles has already drawn the ire of the United States, which has suspended Ankara from the F-35 stealth fighter jet programme.

Seminar “DEFCOM INDIA 2019” underway in New Delhi

A two-day seminar “DEFCOM INDIA 2019” is underway in New Delhi
The theme “Communications: A Decisive Catalyst for Jointness”.
The seminar is devoted to the seminal theme of leveraging communications for achieving jointness between the three services.
In his inaugural address, Minister of State for Defence Shripad Naik highlighted that the announcement of Chief of Defence Staff by the Prime Minister has been made keeping in view the much-needed reform to streamline and further improve coordination and integration between the three services.

IIM Lucknow gets first prize in Ideation competition

The IIM Lucknow team was awarded a prize of 4 lakh and a Samsung Note 10 Plus for each team member for winning the Ideation Competiton conducted by Samsung INDIA Team.
This was the fourth edition of Samsung’s pan India campus program, Samsung E.D.G.E. and eight teams had qualified for the finale after the regional rounds

Ashok Leyland bags order for 1,750 buses from Tamil Nadu State Transport Undertakings

Tamil Nadu Government has provided the Central Contract of 1750 buses to Ashok Leyland.
The order comes close on the back of orders received from various state transport undertakings
Ashok Leyland is currently the fourth largest manufacturer of buses in the world and India’s largest bus manufacturer.

Former Indian Navy chief Sushil Kumar dies

Former Indian Navy Chief Admiral Sushil Kumar died at a military hospital in New Delhi

The former navy chief passed away at the age of 79
Sushil Kumar was Navy Chief from 1998-2001.
He authored a book named “A Prime Minister to Remember- Memories of a Military Chief” which highlighted the key defence-related decisions taken by late former Prime Minister of India Atal Bihari Vajpayee

RBI enhances scope of Non-Resident Rupee Accounts

The restriction on the tenure of SNRR account, which is currently 7 years, has also been removed
The RBI expanded the scope of Special Non-Resident Rupee Accounts (SNRR account) by permitting non-residents to open such accounts for rupee-denominated overseas borrowings, trade credit and trade invoicing for popularising cross-border transactions in the domestic currency.
Any person resident outside India, having a business interest in India, can open a non-interest bearing Special Non-Resident Rupee Account (SNRR account) with a bank for bona fide transactions in rupees.
RBI has also modified norms regarding re-export of unsold rough diamonds from the special notified zone of Customs without export declaration form (EDF) formality.

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RBI Headquarters : Mumbai
RBI Governor : Shakthikantha Das

RBI raises concerns over bad loans from Mudra Yojana

The Reserve Bank of India on raised concerns over increasing bad loans from the Pradhan Mantri Mudra Yojana. RBI believes that there is an urgent need to monitor the loans sanctioned under Mudra Yojana
According to RBI, the percentage of MUDRA loans were at 2.52% in 2017-18, It has now raised to 2.89% in 2018-19. It also says that the number of loans being sanctioned under the scheme has increased greatly

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Shishu – Loans up to a maximum of INR 50000 with rate of interest being 1% per month or 12% per annum. Repayment period up to 5 years
Kishore – Loans exceeding INR 50000 up to INR 5 lakhs. The rate of interest will be dependent on the bank, in accordance with the schemes guidelines, keeping the credit history of the applicant in view. Repayment period based on the discretion of the bank
Tarun – Loans exceeding INR 5 lakhs up to INR 10 lakhs. The rate of interest will be dependent on the bank, in accordance with the schemes guidelines, keeping the credit history of the applicant in view. Repayment period based on the discretion of the bank

Muthoot Finance to acquire IDBI Mutual Fund for Rs 215 crore

Muthoot Finance Ltd, the largest gold loan non-banking finance company in the country, entered into a definitive agreement to acquire IDBI Asset Management Ltd and IDBI Mutual Fund Trustee Company Ltd.
Muthoot Finance will purchase 100 per cent equity shares of IDBI Asset Management and IDBI MF Trustee for a total consideration of Rs 215 crore.
The deal is subject to receipt of approval from regulators including the Securities and Exchange Board of India (SEBI).

Indian archers clinch 3 bronze medals at Asian Championship

Led by Atanu Das, Indian archers bagged three bronze medals today and also ensured at least three silver medals, at the ongoing Asian Championship at Bangkok.
The Indian archers are competing in the tournament as neutral athletes under the World Archery flag due to the suspension of the national federation, Archery Association of India, AAI.
Das first clinched a bronze in the men’s recurve individual event in the morning. He beat Jin Hayek Oh of Korea 6-5 in the shoot-off in the bronze medal contest. Das teamed up with senior pro-Tarundeep Rai and Jayanta Talukdar to beat China 6-2 in the bronze medal tie.
He had won a bronze in the recurve mixed team competition with Deepika Kumari

Muttiah Muralitharan to be Governor of Lankan province

Sri Lankan cricket legend Muttiah Muralitharan is tipped to be appointed as Governor of Sri Lanka’s Northern Province by President Gotabaya Rajapaksa.
He is among three new Governors set to be appointed by the new government of Lankan President, who took over earlier this month.

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