DAILY CURRENT AFFAIRS : October 14 & 15 – 2019

Daily Current Affairs (October 14 & 15 – 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

PREZ KOVIND, PM MODI EXTEND CEREMONIAL WELCOME TO NETHERLANDS KING WILLEM-ALEXANDER, QUEEN MAXIMA

  • President Ram Nath Kovind and Prime Minister Narendra Modi extended a ceremonial welcome to the King of Netherlands Willem-Alexander and Queen Maxima.
  • Their five-day state visit to India will focus on areas such as water technology and maritime development, healthcare, sustainable agriculture, social initiatives and cultural heritage and to further build on the strong Indo-Dutch strategic partnership.
  • They also met External Affairs Minister S Jaishankar. Earlier, King Willem-Alexander and Queen Maxima paid homage at the Samadhi of Mahatma Gandhi at Rajghat.

INDIA TO HAVE FIRST-EVER OLYMPIC HOSPITALITY HOUSE DURING TOKYO GAME

  • India will have its first-ever Olympic Hospitality House in Tokyo during the Summer Games next year.
  • The Indian Olympic Association (IOA) and JSW Group announced a partnership to build the facility.
  • Many of the Olympic participating countries have their own hospitality houses during the Games but this will be the first time India will be having one to showcase its culture and heritage.
  • The official India House logo was unveiled by Sports Minister Kiren Rijiu in the presence of IOA President Narinder Batra and Secretary General Rajeev Mehta.

PRESIDENT KOVIND TO EMBARK ON WEEK-LONG VISIT TO PHILIPPINES, JAPAN

  • President Ram Nath Kovind will embark on a week-long visit to the Philippines and Japan on the 17th of this month.
  • Mr Kovind will attend the Enthronement Ceremony of the Emperor of Japan, His Majesty Naruhito.
  • The President is visiting the Philippines at the invitation of his Philippines counterpart Rodrigo Roa Duterte.
  • The state visit is taking place on the occasion of 70 years of establishment of diplomatic relations between the two countries.
  • On the second leg of the tour, Mr Kovind will visit Japan on the 21st of this month. Along with participating in a community event, the President will visit a Buddhist temple and plant a sapling from the sacred Bodhi Tree in Gaya to highlight India and Japan’s historical and cultural linkages based on Buddhism.
  • The visit to the two countries reaffirms India’s commitment to strengthen its bilateral ties based on traditional bonds of friendship and mutual understanding.

RANKING AND INDEX

MUMBAI 12TH WEALTHIEST CITY IN THE WORLD, NEW YORK NUMBER ONE WITH 65 BILLIONAIRES

  • Mumbai is the 12th richest city in the world with a total wealth of $960 billion, according to a report by New World Health.
  • It is the only Indian city to feature in the top 20 list of wealthiest cities in the world.
  • Delhi is on 22nd position and second Indian city after Mumbai on the wealth intelligence firm’s ‘The Wealthiest Cities Worldwide in 2019’ list. Bangalore is on 26th spot while Hyderabad came last at 28.

AWARDS AND RECOGNITION

NOBEL PEACE PRIZE: ETHIOPIA PM ABIY AHMED WINS

  • The 2019 Nobel Peace Prize has been awarded to Ethiopian Prime Minister Abiy Ahmed who made peace last year with bitter foe Eritrea.
  • He was awarded the prize for his efforts to “achieve peace and international cooperation”.
  • Mr Abiy’s peace deal with Eritrea ended a 20-year military stalemate following their 1998-2000 border war.
  • He was named as the winner of the 100th Nobel Peace Prize in Oslo, where he will receive the award in December.
  • It is worth some nine million Swedish crowns (about £730,000; $900,000).

INDIAN-AMERICAN ABHIJIT BANERJEE, WIFE ESTHER DUFLO WIN NOBEL FOR ECONOMICS; PREZ, VP & PM CONGRATULATE WINNERS

  • The 2019 Nobel Prize for Economics has been jointly won by Indian-American Abhijit Banerjee, his wife, Esther Duflo, and Michael Kremer of the United States for their experimental approach to alleviating global poverty.
  • The President, the Vice President and the Prime Minister have extended their congratulations to Abhijeet Banerjee, Esther Duflo and Michael Kremer on winning the Nobel Prize in Economics for their experimental approach to alleviating global poverty.
  • President Ram Nath Kovind said their research has helped economists better understand how to fight poverty in India and the world.

MARGARET ATWOOD AND BERNARDINE EVARISTO JOINTLY WIN BOOKER PRIZE

  • Margaret Atwood and Bernardine Evaristo have jointly won the 2019 Booker Prize after judges flout the rules by declaring a tie. British Indian novelist Salman Rushdie’s tragicomic ‘Quichotte’ was among the six books shortlisted for the prize.
  • The Booker rules say the prize must not be divided, but the judges insisted they could not separate Atwood’s – ‘The Testament’ and ‘Girl, Woman, Other’ by Evaristo, who is the first black woman to win the prestigious award since its creation in 1969.

ED SEIZES ASSETS WORTH RS 3,830 CR IN PMC BANK MONEY LAUNDERING CASE

  • The Enforcement Directorate has seized and identified assets worth three thousand eight hundred 30 crore rupees in connection with its probe in the PMC Bank money laundering case.
  • The probe agency said it is valuing a number of properties of Housing Development and Infrastructure Limited, HDIL, its directors, promoters, Punjab and Maharashtra Co-operative, PMC Bank officials and others.
  • The identified assets will soon be attached under the Prevention of Money Laundering Act, PMLA. The ED said, further probe is in progress to identify and locate the balance proceeds of crime.

INTERNATIONAL NEWS

SRI LANKA: JAFFNA INTERNATIONAL AIRPORT TO COMMENCE ITS OPERATIONS FROM OCT 17

  • In Sri Lanka, the Jaffna international airport, located in Tamil-majority North and built with Indian assistance, will commence its operations President Maithripala Sirisena and Prime Minister Ranil Wickremesinghe along with other dignitaries are scheduled to grace the inaugural event.
  • The airport has been developed afresh and runway length has been extended from 950 to 1400 metres to facilitate ATR 72 Aircraft carrying 70 passengers. Sri Lankan government is also planning to develop Batticalao airport in eastern province to improve connectivity.

PAK ON VERGE OF STRONG ACTION BY FATF; LIKELY TO BE PUT IN ‘DARK GREY’ LIST

  • Pakistan is on the verge of strong action by the international terror financing watchdog FATF and the country may be put in the ‘Dark Grey’ list. Officials attending the ongoing plenary of the Financial Action Task Force (FATF) in Paris said, as per indications, Pakistan will be isolated by all members for not doing enough. Sources said, Pakistan given its inadequate performance and has managed to pass in only 6 of the 27 items.
  • According to FATF rules, there is one essential stage between ‘Grey’ and ‘Black’ lists, referred to as ‘Dark Grey’. An official said, Dark Grey means issuance of a strong warning, so that the country concerned gets one last chance to improve.

UNION CULTURE MINISTER SHRI PRAHLAD SINGH PATEL PARTICIPATES IN BRICS CULTURE MINISTERS’ MEET AT CURITIBA, BRAZIL

  • Union Minister of State for Culture and Tourism Prahlad Singh Patel participated in BRICS Culture Ministers’ meeting held in Curitiba, Brazil
  • Mr Patel asserted that BRICS for India is a valuable forum for consultation, coordination and cooperation on contemporary global issues of mutual interest.

BANKING AND BUSINESS ECONOMY

RBI RAISES WITHDRAWAL LIMIT TO RS 40,000 FOR PMC BANK ACCOUNT HOLDERS

  • Reserve Bank has enhanced the withdrawal limit for the account holder of Punjab and Maharashtra Cooperative Bank or PMC Bank to 40 thousand rupees from 25 thousand rupees. This is the third time, RBI has raised the withdrawal limit since its clamp down on PMC Bank last month.
  • RBI said, after reviewing the bank’s liquidity position and its ability to pay its depositors, it has decided to further enhance the limit.
    Finance Minister Nirmala Sitharaman said that she is closely monitoring the developments at PMC Bank, and the RBI governor has assured to protect customers’ interest.
  • The bank had come on regulatory radar after Housing Development & Infrastructure Ltd (HDIL) and its directors failed to repay a Rs 4355 crore putting the bank under liquidity stress. The regulator had capped deposit withdrawals first at Rs 1,000, which was subsequently increased to Rs 10,000 and Rs 25,000.

SPECTRUM AUCTION TO BE DONE WITHIN CURRENT FINANCIAL YEAR: RAVI SHANKAR PRASAD

  • Telecom Minister Ravi Shankar Prasad announced that spectrum auction will be done within the current financial year and promised reforms in spectrum pricing.
  • Prasad said the government is aware about some problems and challenges being faced by the telecom industry. Addressing the India Mobile Congress 2019 in New Delhi, Mr Prasad said, 5G is the order of the day as the government has given permission to companies for 5G trials.
  • The Minister said the government wants to develop India as a major data economy of the world at the same time it does not wish to compromise on data sovereignty of the country.

WTO GIVES NOD TO US TO IMPOSE TRADE SANCTIONS ON EU GOODS WORTH 7.5 BN USD

  • The World Trade Organization, WTO, has formally given the go-ahead for the United States to impose trade sanctions on up to 5 billion dollars worth of European Union goods. This follows a ruling that European planemaker Airbus received illegal subsidies.
  • The move by the WTO’s dispute settlement body was largely a formality after the long-awaited ruling by a WTO arbitration panel on the 2nd of this month.

RETAIL INFLATION SPIKES TO 3.99% IN SEP DUE TO PRICE RISE IN FOOD ITEMS

  • Retail inflation spiked to 99 per cent in September this year mainly due to higher prices of food items. Government data, released showed that the consumer price index (CPI) based inflation was registered at 3.28 per cent in August this year.
  • On a year-on-year basis, the inflation was 70 per cent in September last year. The price rise in the food basket was recorded at 5.11 per cent last month, as against 2.99 per cent in the preceding month.

GOVT TO ACHIEVE 10% BLENDING PERCENTAGE OF ETHANOL IN PETROL BY 2022, TO BOOST FARM ECONOMY SAYS PETROLEUM MINISTER

  • India is expected to get 58 billion dollar investment in the exploration and production sector by 2023. This was stated by Petroleum Minister Dharmendra Pradhan while addressing a gathering at India Energy Forum in New Delhi.
  • The Minister also informed that, an estimated investment of 60 billion dollar is underway for augmenting gas infrastructure. Mr. Pradhan appealed Finance Minister Nirmala Sithraman to consider including petroleum products under GST regime.
  • Mr Pradhan expressed hope that natural gas and aviation turbine fuel will be brought under the Goods and Services Tax regime initially. Mr Pradhan said that the Government is pushing to achieve 10 per cent blending percentage of ethanol in petrol by 2022, which in turn will boost farm economy.

RUPEE DECLINES BY 21 P AT 71.23 AGAINST USD

  • The rupee today declined by 21 paise to close at a three-week low of 71 rupees and 23 paise against the US currency.
  • The domestic currency’s depreciation was mainly because of investors rushing to safe-haven bets on fading hopes of an initial trade deal between the US and China. Analysts said, weak Chinese trade data also weighed on the rupee.

CHINA’S IMPORTS, EXPORTS FELL MORE THAN EXPECTED IN SEPT

  • China’s imports and exports fell more than expected in September, official data showed as cooling demand at home and abroad hit trade.
  • According to data from the customs administration, globally, China’s exports dropped 2 per cent in September from the same period last year, while imports dived 8.5 per cent.
  • The figures were worse than a Bloomberg forecast, which estimated exports to drop 2.8 per cent and imports fall 6.0 per cent. The European Union has also replaced the United States as China’s top trading partner amid a bruising tariffs spat, with imports from the US down 26.4 per cent on-year in September.

BANGLADESH BECOMES 2ND FASTEST GROWING ECONOMY IN SOUTH ASIA: WORLD BANK

  • Bangladesh has become the second-fastest growing economy in South Asia after World Bank in its report ‘South Asia Economic Focus, Making (De) Centralization Work’ released says that GDP growth rate of the country is projected to moderate to 7.2 per cent this fiscal year and 7.3 per cent in 2020 in Bangladesh.
  • The report points out that its economy is likely to maintain growth above 7 per cent, supported by a robust macroeconomic framework, political stability, and strong public investments.
  • Bangladesh has reduced the current account deficit due to rising export and remittances which was above dollar 5 billion in 2018.

GOVERNMENT SCHEMES

DPIIT LAUNCHES WEBSITE, MOBILE APP FOR IPR

  • Secretary Department for Promotion of Industry and Internal Trade (DPIIT) Guruprasad Mohapatra launched the website and mobile application L2Pro India [Learn to Protect, Secure and Maximize Your Innovation] on Intellectual Property Rights (IPRs).
  • The website and app has been developed by Cell for IPR Promotion and Management (CIPAM)-DPIIT in collaboration with Qualcomm and National Law University (NLU), Delhi.
  • The modules of this e-learning platform will aid and enable youth, innovators, entrepreneurs and small and medium industries (SMEs) in understanding IPRs for their ownership and protection, integrate IP into business models and obtain value for their R&D efforts.

DR HARSH VARDHAN, DUTCH ROYAL COUPLE LAUNCH LOTUS-HR IN NEW DELHI

  • The second phase of Local Treatment of Urban Sewage Streams for Healthy Reuse, LOTUS-HR was launched at the Barapullah drain in New Delhi by Union Minister Harsh Vardhan.
  • LOTUS-HR is a water laboratory which is jointly supported by the Department of Biotechnology, Ministry of Science and Technology and Netherlands Organisation for Scientific Research.
  • The project aims to demonstrate a holistic waste-water management approach that will produce clean water which can be reused for various purposes. He said after commissioning, the innovative pilot-scale modular plant will treat 10,000 litres of sewage water per day.

AGREEMENTS AND MOUS

INDIA, SIERRA LEONE SIGN SIX AGREEMENTS INCLUDING 30 MN DOLLAR LINE OF CREDIT FOR RICE CULTIVATION

  • India and Sierra Leone signed six agreements including extending a credit line of 30 million US Dollars for rice cultivation. Vice President Venkaiah Naidu and Sierra Leone President Julius Maada Bio committed to further strengthening bilateral relations.
  • The two sides agreed that the United Nations need to be reformed to reflect the realities of today and address current global challenges.

NEPAL SIGNS RAIL, ROAD LINK DEALS WITH CHINA DURING XI VISIT

  • Chinese President Xi Jinping pledged to help Nepal realise its dream of becoming a “land-linked” country, The two countries signed a preliminary pact on a long-awaited rail link connecting the Tibetan capital Lhasa to Nepal’s capital Kathmandu as well as 19 other agreements, during Xi’s visit.
  • He said a feasibility study of the trans-Himalayan railway link would begin soon and a more reliable facility with easier connectivity between the two countries would be established.
  • He said China will provide assistance to the tune of 56 billion (Nepalese) rupees over the next two years to help Nepal’s development programmes.

IHMCL, GSTN TO INK PACT TO LINK FASTAG WITH GST E-WAY BILL SYSTEM ON OCT 14

  • The Indian Highways Management Company Ltd (IHMCL) and Goods and Services Tax Network (GSTN) will sign a memorandum of understanding for integration of FASTag with GST e-way bill system.
  • The memorandum of understanding (MoU) will be inked at the ‘One Nation, One FASTag’ conference, which will be inaugurated by Road Transport and Highway Minister Nitin Gadkari.
  • FASTag is a simple to use, reloadable tag which enables automatic deduction of toll charges and lets vehicle pass through toll plaza without stopping for cash transaction.

IMPORTANT DAYS

INTERNATIONAL DAY OF RURAL WOMEN OCTOBER 15PIC

  • International Day of Rural Women is being celebrated. Vice President M Venkaiah Naidu has urged the world community, accord top priority to empowerment of women.
  • Mr Naidu also urged to make it a global agenda and encourage more women to embark on the path of entrepreneurship and self reliance. Mr Naidu said, empowerment of women is central to achieving inclusive, equitable and sustainable development.

NATION PAYS HOMAGE TO FORMER PRESIDENT DR A P J ABDUL KALAM ON HIS BIRTH ANNIVERSARY

  • The nation pays homage to former President Dr A P J Abdul Kalam on his birth anniversary today. Dr Kalam is also known as the Missile Man of India. Vice President M Venkaiah Naidu and Prime Minister Narendra Modi have paid tribute to Dr Kalam.

OCTOBER 14 IS CELEBRATED AS THE WORLD STANDARDS DAY 

  • World Standards Day is observed on 14th October 2019.The day is observed every year. The day is observed to raise awareness of the significance of standardization to the global economy.
  • The theme for 2019 is Video Standards create a global stage.

SPORTS NEWS

COCO GAUFF TROUNCES ANDREA PETKOVIC TO REACH 1ST CAREER WTA FINAL

  • American teenager Coco Gauff has become the youngest player to enter to reach a WTA final since Czech Republic’s Nicole Vaidisova.
  • Coco Gauff progressed to her maiden WTA final as she eased past Germany’s Andrea Petkovic 6-4 6-4 at the Linz Open.
  • The 15-year-old Gauff became the youngest player to reach a WTA final since Czech Republic’s Nicole Vaidisova won the Tashkent Open in 2004.

INDIA VS SOUTH AFRICA: VIRAT KOHLI 5TH INDIAN TO SCORE 250 IN A TEST INNINGS

  • Virat Kohli became only the fifth Indian batsman to score 250 in a Test innings after Virender Sehwag, Karun Nair, VVS Laxman, and Rahul Dravid on the second day of the second Test match against South Africa at the Mumbai Cricket Association Stadium in Pune.
  • Virat Kohli, who has already scripted his name in record books when he scored a record seventh double hundred of his career, became the first Indian captain to score 250 plus in a single Test inning.

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