DAILY CURRENT AFFAIRS : September 28, 2019

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Defence Minister Rajnath Singh commissions INS Khanderi into Indian Navy

  • Defence Minister Rajnath Singh today said that Pakistan should understand that today with strong resolve of our government and advancement in naval capacity, the country is capable of giving a much bigger blow to it.
  • He was speaking after commissioning of India’s second class indigenously built submarine INS Khanderi in Mumbai.

20 countries including India sign agreement to stop spread of fake news online

  • Twenty countries, including France, Britain and India, have signed an agreement at the United Nations to stop the spread of fake news on-line.
  • The signatories, which also included South Africa and Canada, committed to promoting independently reported, diverse and reliable information on the internet under an accord initiated by Reporters Without Borders (RSF), a press freedom watchdog.


China, Kiribati establish diplomatic relations

  • Chinese Foreign Minister Wang Yi and Kiribati’s President Taneti Mamau signed a joint communique to establish diplomatic relations between the two countries on the sidelines of the UN climate summit yesterday.
  • Chinese State media reported, the days after the tiny Pacific island nation severed ties with Taiwan, Kiribati established diplomatic relations with China.

Kingdom of Saudi Arabia launches e-tourist visa

  • The Kingdom of Saudi Arabia on Friday announced the opening of its doors to tourists from all over the world with the launch of the e-tourist visa.
  • The Saudi Press Agency reported that the announcement was made during a ceremony organized by the Saudi Commission for Tourism and National Heritage (SCTH) in Riyadh.
  • Citizens from 49 countries will also be able to apply for an e-visa or receive a visa on arrival to Saudi Arabia.
  • A dedicated online portal at visitsaudi.com was also launched and electronic kiosks are set to be available at airports to facilitate requests.

Banking and Finance

RBI initiates prompt corrective action against Lakshmi Vilas Bank

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  • The Reserve bank of India (RBI) has initiated Prompt Corrective Action (PCA) Lakshmi Vilas Bank over their high net non performing assets (NPA), according to a press release filed with the exchanges.
  • The release also noted that the bank had an insufficient Capital to Risk (Weighted) Assets Ratio (CRAR) and Common Equity Tier 1 (CET 1), and negative return on assets (RoA) for two consecutive years and high leverage.
  • These observations were made by RBI based on their on-site inspection under the Risk Based Supervision carried out for the year that ended on March 31, 2019.

Govt asks PSUs to clear vendor, contractor dues by Oct 15 to boost spending, growth

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  • The government on September 28 set October 15 as the deadline for central PSUs to clear overdue payments to vendors and contractors as it looks to lift economic growth from six-year low by boosting expenditure.
  • Finance Minister Nirmala Sitharaman, who reviewed capital spending programmes with heads of central public sector enterprises, said state-owned companies have also been asked to set up a portal by October 15 where service providers, vendors and contractors can track bills and payments so that liquidity crunch is mitigated.
  • Also, public sector undertakings (PSUs) have been asked to detail lifespan of arbitrations that lock payments after disputes with vendors and contractors, she said, adding the state-owned firms have also been asked to submit spending plans for the next four quarters.
  • Finance Secretary Rajiv Kumar said 34 central PSUs have already spent Rs 48,077 crore till August and have detailed spending of another Rs 50,159 crore till December 2019. Another Rs 54,700 crore would be spent in the January-March quarter.

Forex reserves decline by $388 mn to $428.57 bn

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  • India’s forex reserves declined by $388 million to $428.572 billion for the week ended September 20 due to a slide in core currency and gold assets, the Reserve Bank said on Friday.
  • The overall reserves had declined by $649 million to $428.960 billion in the previous reporting week.
  • They had touched a life-time high of $430.572 billion in August this year.

CCI clears 70% stake acquisition in SABIC by Saudi Aramco

  • The Competition Commission of India has given approval to the acquisition of 70 per cent stake in Saudi Basic Industries Corporation (SABIC) by Saudi Arabian Oil Company.
  • Through this acquisition, Saudi Aramco will have sole control over SABIC.  
  • In India, SABIC is mainly active in the supply of agri-nutrient and petrochemical products while Saudi Aramco is active in the supply of crude oil, liquefied petroleum gas, base oil and petrochemical products.  
  • In March 2019, Saudi Aramco had announced the signing of a share purchase agreement to acquire 70 per cent majority stake in SABIC from the public investment fund of Saudi Arabia.
  • The transaction value was pegged at 69.1 billion dollar.


Tripura HC bans centuries-old tradition of animals sacrifice in religious places

  • In Tripura, in a landmark decision by the Tripura High Court yesterday, the court has ordered to ban the centuries-old tradition of animals sacrifice in religious places across the state.
  • The Division Bench comprising Chief Justice Sanjoy Karol and Justice Arindam Lodh said that no person including the state shall be allowed to sacrifice of any animal or bird within the precincts of any one of the temples within the state of Tripura.
  • The order has to be implemented with immediate effect.

Delhi govt to sell onions at Rs 23.90 per kg

  • The Delhi government will sell onions at  23.90 rupees per kilogram in the city from tomorrow.
  • Chief Minister Arvind Kejriwal said,  onions will be sold at 400 ration shops and through 70 mobile vans in all the Assembly constituencies in the national capital.
  • Each person will be entitled to a maximum of five kilogram and the sale points will operate from 10 A.M. to 5 P.M.
  • The Chief Minister said in retail, onion is currently being sold at 60 to 80 per kilogram.  
  • He said, the government will procure one lakh kilogram of onions from the Centre over the next five days.

Azharuddin elected president of Hyderabad Cricket AssociationSports

  • Former India Captain Mohammad Azharuddin was today elected President of the Hyderabad Cricket Association.
  • The stylish batsman of yesteryears polled 173 votes while his opponent Prakash Chand Jain got 73 votes. The victory marks his entry into cricket administration.

Wrestler Deepak Punia named world No.1 in 86 kg category

  • In the latest rankings issued by the International Wrestling Federation, World Championship silver medalist Deepak Punia has jumped to world number one position in 86 kilogram category but Bajrang Punia lost the top rank in the 65-kilogram category.
  • Competing in his maiden senior World Championship, Deepak settled for a silver after an ankle injury forced him to pull out of the final against Iranian great Hasan Yazdani.

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