Daily Current Affairs 19 December 2019 for Banking/Insurance/SSC and other related exams.
Govt. launches National Broadband Mission, aims to provide broadband for all
Union Minister Ravi Shankar Prasad launched the National Broadband Mission which aims to fast track growth of digital communications infrastructure, bridge the digital divide and provide affordable and universal access of broadband for all
- The main objective of the NBM is to provide broadband access to all villages by 2022.
Amit Shah lays foundation for Bharat Vandana Park in Dwarka
Home Minister Amit Shah laid the foundation stone of the much-awaited Bharat Vandana Park in Dwarka, Delhi.
A mini India will be recreated at the park.The park will be in the shape of a Lotus having nine petals. Each petal will exhibit a different theme. The park will also have a recreational zone, fun zone, lake view restaurant, environment zone, tree walk zone etc.
MP CM inaugurates 7-Day International Film Festival in Khajuraho
In Madhya Pradesh, the Chief Minister Kamal Nath inaugurate the 7-Day International Film Festival in Shilpkala village of Khajuraho. Films from the country and abroad including Bundelkhandi will be screened at the Tapra Talkies made for the festival.
- The International Khajuraho Film Festival is organized by the Prayas Sanstha in collaboration with the State Government.
Chennai first city in India to get online portal to exchange reusable products
Chennai residents can now buy and sell reusable and recycled products online as the Greater Chennai Corporation launched a new website that facilitates waste-trading.
- The first-of-its-kind website in India, www.madraswasteexchange.com, has a variety of products made from dry and wet waste. This website is part of the Smart City Mission and currently, the civic body only sells dry and wet waste
Now one can withdraw 75% EPF if jobless for 1 month
The Ministry of Labour and Employment has amended the Employees’ Provident Fund (EPF) Scheme to allow its members to withdraw money from the corpus if he/she remains unemployed for more than one month. This rule will come into effect from December 6.
- According to the notification, a member of EPF can now withdraw money for a maximum up to 75 per cent of the credit balance from his/her account if he/she remains unemployed for a period not less than one month.
Trai extends six paise per min IUC charge to other networks till Dec 2020
Telecom operators will continue to pay 6 paise per minute for every outgoing call made to their competitors’ network till December 31, 2020.
- The rate was reduced to 6 paise with effect from October 1, 2017 from 14 paise charged earlier and it was to become nil from January 1, 2020.
CPPIB commits $225 million to India Resurgence Fund
Canada Pension Plan Investment Board will invest $225 million in India Resurgence Fund (IndiaRF), a distressed asset buyout platform.
- CPPIB, through its wholly-owned subsidiary CPPIB Credit Investments Inc, will infuse money into the fund, which was set up by Piramal Enterprises and Bain Capital Credit.
China launches 2nd aircraft carrier, to be deployed in South China Sea
China launched its second aircraft carrier from a key base in the South China Sea, boosting its military ambition in the region where Beijing’s claims of sovereignty is challenged by the US and other nations.
- The ship named after Shandong Province in east China was launched from Sanya, located in the South China Sea coast by President Xi Jinping
BANKING & FINANCE
₹80,893 cr. loans written off by banks in first half of FY20
As per RBI data on global operations, public sector and private sector banks wrote off ₹80,893 crore [provisional data], during the current financial year 2019-20 [till September 30, 2019] said by Minister of State for Finance Anurag Thakur.
- The gross non-performing assets (NPAs) of both public and private sector banks rose from ₹3,12,706 crore as on March 31, 2015 to ₹10,21,464 crore as of March 31, 2018. State Bank of India wrote off the highest amount of loans (₹27,535.31 crore) during the current financial year till September, followed by Bank of Baroda (₹5,439.76 crore) and Axis Bank (₹5,426.14 crore).
Axis Bank, Indian Oil launch co-branded credit card for cashless payments
Axis Bank announced the launch of co-branded credit card in partnership with Indian Oil Corporation Ltd (IOCL). Customers will be able to get benefits such as cashback up to ₹250 on fuel purchases within first 30 days of card issuance, 20 times accelerated reward points on fuel spends at IOCL outlets as well as waiver of fuel surcharge.
BRICS’ NDB pledges $100 million to NIIF’s Fund of Funds
New Development Bank (NDB), earlier known as the BRICS Development Bank, has committed $100 million to India’s National Investment and Infrastructure Fund’s (NIIF) Fund of Funds.
- NIIF’s Fund of Funds, according to the disclosure, is looking to raise about $1 billion to invest in up to 10 private equity funds managed by fund managers in India.
BUSINESS & ECONOMY
RIL beats Indian Oil to be number one player by revenue
Reliance Industries (RIL) has emerged as the number one company in terms of revenue in the Fortune India 500 list for 2019, pipping Indian Oil Corporation (IOC). RIL revenues crossed Rs 5.81 trillion in FY19 against IOC’s Rs 5.36 trillion.
- Another interesting aspect of the 2019 list is the divergence in the fortunes of the public and private sector banks as 14 of the 22 public sector banks reported cumulative losses of Rs 74,253 crore, while the cumulative profit of 24 of the total private sector banks (including foreign banks and cooperative banks) touched Rs 60,747 crore — 6.16 per cent higher than FY18.
NEFT, RTGS transfer charges to be waived for savings account, RBI issues order
The RBI informed that NEFT, RTGS transfer charges should be waived off to push digital retail payments. The new rules come into effect from 1 January 2020.
- The RBI also made NEFT transactions a round-the-clock process which works even during bank holidays
Finance ministry sets Rs 1.1 lakh crore monthly GST collection target
The Finance Ministry aims to bring in Rs 1.1 lakh crore as monthly GST collection for the next four months Revenue Secretary Ajay Bhushan Pandey had a video conference meeting with top tax officials and impressed upon them to step up measures to achieve direct and indirect tax collection target.
Moody’s cuts India’s FY20 growth projection to 4.9% citing weak consumption
Moody’s has lowered its GDP growth projection for India for the fiscal year ending March 2020 to 4.9 per cent from 5.8 per cent.
- The major factors responsible for weakening economic growth were rural financial stress, low job creation and liquidity constraints.
Deepak Punia named UWW’s Jr freestyle wrestler of the year
World championships silver medallist Deepak Punia has been named the ‘Junior Freestyle Wrestler of the Year’ by United World Wrestling (UWW) after a stellar season during which he made a phenomenal transition from junior to the senior circuit.
- Punia become the first Indian wrestler to win a junior world title but he also backed it up with a silver medal on his debut at the 2019 Senior World Wrestling Championships.
India’s Koneru Humpy finishes second in Monaco GP
Grandmaster Koneru Humpy finished second in the FIDE Women’s Grand Prix (WGP) which concluded in Monaco. Alexandra Kosteniuk won the Women’s Grand Prix. It is her her third consecutive tournament.
Ellyse Perry named ICC women’s player of the year, Alyssa Healy wins T20 player of the year
Ellyse Perry has been crowned the international women’s cricketer of the year, as Australia scooped the pool at the ICC awards. Perry claimed the Rachael Heyhoe-Flint award for the second time in three years, and was also named the ODI player of the year.
- Women’s Cricketer of the Year: Ellyse Perry (Australia)
- ODI Player of the Year: Ellyse Perry (Australia)
- T20I Player of the Year: Alyssa Healy (Australia)
- Emerging Player of the Year: Chanida Sutthiruang (Thailand)
Sridhar Patra appointed NALCO CMD
Sridhar Patra was appointed as the chairman-cum-managing director of NALCO till the date of his superannuation, i.e. October 31, 2024.
Patra is at present Director (Finance) in the National Aluminium Company Limited (NALCO).
British PM Boris Jhonson re-elected as Prime Minister of UK
is set to win a majority in Parliament, securing his position as UK prime minister. His victory is a near-guarantee the United Kingdom will leave the European Union at the end of January.
- Johnson won a big majority for his Conservative Party in last week’s election.
Shashi Tharoor, Nand Kishore Acharya among writers to receive Sahitya Akademi Award 2019
Politician writer Shashi Tharoor and clay right nandkishor Aacharya are among 23 writers who will be be honored with the Sahitya Academy Award 2019. The National Academy of letters announced the names of the winners recently.
- While Tharoor won the award for his book “An Era of Darkness” in English, Acharya will receive the recognition for his book of Hindi poetry ‘Cheelatey Hue Apne Ko’.
Amitabha Bagchi wins 2019 DSC Prize
The 8th edition of the IME Nepal Literature Festival, held at Pokhara, concluded with the announcement of the winner of DSC Prize for South Asian Literature 2019.
- Amitabha Bagchi won the DSC Prize for South Asian Literature 2019 worth US $25,000 for his novel ‘Half the Night is Gone’.
CBI officer wins’India Cyber Cop of the Year’ award
CBI officer B P Raju has won the ‘India Cyber Cop of the Year 2019’ award by NASSCOM-DSCI for cracking a fraud case in an online entrance exam conducted by an engineering college in Rajasthan.
- The award was given to Raju by Secretary, Ministry of Electronics and Information Technology, Ajay Prakash Sawhney, during the annual Information Security Summit held at Gurgaon.
Mohun Bagan president Gitanath Ganguly passes away
Mohun Bagan’s president Gitanath Ganguly, a crusader against noise pollution and a member of Legal Aid Service of West Bengal, died after a heart attack in Kolkata. He was 83.