Daily Current Affairs 16th May, 2019

Daily Current Affairs 16 May 2019 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

India to co-chair Consultative Group (CG) of Global Facility for Disaster Reduction and Recovery (GFDRR)

India has been unanimously chosen as co-chair of the Consultative Group (CG) of Global Facility for Disaster Reduction and Recovery (GFDRR) for the fiscal year 2020.

The decision was taken during the meeting of GFDRR held in Geneva, Switzerland yesterday on the margins of the 6th Session of the Global Platform for Disaster Risk Reduction.

India signs ‘Christchurch Call to Action’

India signed the ‘Christchurch Call to Action’ in Paris. The agreement came in the backdrop of the attacks on mosques in March and is aimed at stopping the abuse of the Internet by extremists.

  • The meeting held in Paris was attended by representatives of online giants like Microsoft, Google, Twitter, Facebook, and Amazon.

Defence Space agency to come up at Bengaluru

Soon after it successfully carried out an anti-satellite test, India is setting up its military space agency headquartered at Bengaluru with the ace fighter pilot Air Vice Marshal SP Dharkar as its likely head.

  • The tri-services Space agency is likely to command all the space assets of the three services including the A-SAT capability, which can be used to destroy enemy space-based satellites and other assets.

India’s child mortality rate was world’s highest in 2015: Study

At 47.8 deaths per 1,000 live births, India in 2015 had more deaths among children under five than any other country, new research has found.

  • This is despite the great progress the country has made in reducing child mortality. During 2000-2015, the annual mortality among children under five came down from 2.5 million in 2000 to 1.2 million in 2015, said the study published in the journal Lancet Global Health.
  • The highest mortality rate, in Assam, a state in northeastern India, was more than seven times that in the western state of Goa.

Lokpal website launched by Chairperson Justice Pinaki Chandra Ghose

The website of the Lokpal www.lokpal.gov.in has been launched. It was inaugurated by Chairperson Justice Pinaki Chandra Ghose in presence of all the Members of Lokpal in New Delhi.

  • The Lokpal is the first institution of its kind in independent India, established under the Lokpal and Lokayuktas Act, 2013 to inquire and investigate into allegations of the corruption against public functionaries who fall within the scope and ambit of the above Act


BANKING & FINANCE

RBI releases ‘Vision 2021’ for payment systems for ‘Cash-Lite’ Society

Reserve Bank of India has released a vision document‘Payment and Settlement Systems in India: Vision 2019 – 2021’, with its core theme of ‘Empowering Exceptional E-payment Experience’ for ensuring a safe, secure, convenient, quick and affordable e-payment system.

  • The move comes as the apex bank expects the number of digital transactions to increase more than four times to 8,707 crores in December 2021. It envisages achieving “a highly digital and cash-lite society” through the goal posts of competition, cost-effectiveness, convenience and confidence (4Cs).

SIDBI launched a Pilot Scheme for Fintech NBFCs

To give a fillip to digital lending, Small Industries Development Bank of India (SIDBI)has put together a pilot scheme to extend financial assistance of up to Rs10 crore to new-age fintech non-banking finance companies (NBFCs) engaged in financing small businesses and other income-generating activities.



BUSINESS & ECONOMY

India’s exports up 1.34 pc in April to 44 billion US dollars

India’s exports in April 2019 grew 1.34 per cent to 44.06 billion US dollars while imports jumped 4.53 per cent to 52.83 billion US dollars in the year-on period.

  • The trade deficit for April 2019 is estimated at 8.78 billion dollars as compared to 7.07 billion dollars in April 2018, according to a statement by the Ministry of Commerce and Industry.

WPI Inflation slides to 3.07% in April

Wholesale Price Index (WPI)-based inflation for April 2019 eased to 3.07%, from 3.62% in April 2018. The latest WPI print was also lower than 3.18% recorded in March this year. Build up inflation for the financial year so far was 0.75%, lower than 0.86% in the corresponding period of the previous year.

Ola launches Ola Money SBI Credit Card

In a move to enrich the customer experience of millions of the homegrown ride hailing platform’s users, Ola has partnered the state-run SBI cards to launch Ola Money SBI Credit Card for the country’s first such co-branding initiative in the segment.

  • The card, which is powered by Visa, will be without any joining fees and provide seamless, flexible and convenient payments to the car hailing platform’s customers.

Mumbai Metro tie-up with Instamojo for card payments

Reliance Infrastructure promoted Mumbai Metro One announced a tie-up with payment gateway ‘Instamojo’ to enable card payments aimed at boosting cashless travel.

  • Accordingly, the 4.50 lakh commuters of Mumbai Metro One can now pay for their tickets by debit/credit cards for all kinds of ticketing products like single journey token or return journey token.

Tech Mahindra partners with France based firm Rakuten Aquafadas

IT services firm Tech Mahindra and French digital content publishing firm Rakuten Aquafadas signed an MoU to collaborate on building enhanced customer experience offerings. Rakuten Aquafadas and Tech Mahindra aim to build a Customer Experience Offering leveraging the suite of software that Rakuten Aquafadas provides for digital publishing.



SPORTS

Croatia Legend Igor Stimac appointed new Coach of India’s Men Football Team

Croatian World Cupper Igor Stimac was appointed head coach of the Indian football team for a two-year term. The national team has been without a coach since the departure of Stephen Constantine in January, following the creditable show at the AFC Asian Cup.

Helo becomes team sponsor of Indian Wheelchair Cricket

Helo, India’s social media platform, has announced its partnership with the Indian Wheelchair Cricket Association as the team sponsor for Team India during the Asia Cup 2019, which is scheduled from May 15 in Nepal. This association makes Helo the first social media app to host and promote Indian Wheelchair Cricket on its platform.

China to host 2023 Asian Cup Football Tournament

China has become the sole contender to host Asian Cup Football tournament in 2023 after South Korea has announced to withdraw its bid to host the game. The Korea Football Association (KFA) announced that it had pulled out to strategically focus on a joint bid with North Korea to host the Women’s World Cup in the same year.



APPOINTMENTS

RBI appoints R. Gandhi on board of Yes Bank

The Reserve Bank of India (RBI) has appointed former deputy governor Rama Subramaniam Gandhi as an additional director on the board of Yes Bank for two years, from 14 May 2019 to 13 May 2021.

  • The appointment has been made under sub-section (1) of Section 36 AB of the Banking Regulation Act, 1949.


OBITUARIES

Comedian Tim Conway passes away at 85

Veteran American comedian Tim Conway, who was a core member of the “The Carol Burnett Show” troupe, has passed away. He was 85.



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