Daily Current Affairs 5th January, 2020

Daily Current Affairs 5 January 2020 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

Amit Shah-led GoM to vet National Tariff Policy

Home minister Amit Shah will head a group of ministers to discuss the proposed National Tariff Policy that is being awaited as a major reform by the stressed power sector but being opposed by state governments and discoms due to clauses like penalties for load shedding.

• The inter-ministerial group will have 10 ministers, including eight in cabinet rank and two with independent charge, people familiar with the development said.

MP govt starts health insurance scheme for staff

The Madhya Pradesh government has given its 12.55 lakh employees a new year bonanza by approving a health insurance scheme called Mukhyamantri Karmachari Swasthya Bima Yojana.

• The scheme will be effective from April 1 and will make every government employee and their families eligible for medical treatment worth Rs 5 lakh annually. For some critical diseases, the eligibility will be enhanced to Rs 10 lakh.

Army to sign MoU for AK-203 assault rifles in a month

The Indian Army is likely to sign a Memorandum of Understanding (MoU) in a month for the procurement of over 7.5 lakh AK-203 assault rifles, which are to be manufactured locally by an India-Russia joint venture (JV), a Defence source said.

• About 1 lakh rifles will come directly from Russia and the remaining will be manufactured by the JV in India.

BANKING & FINANCE

IRDAI gives big boost to affordable health cover with mandatory ‘Arogya Sanjeevani’ Policy

The Insurance Regulatory and Development Authority of India (IRDAI) asked all health and general insurers to mandatory offer product to cover the basic health needs of clients by offering them the minimum of Rs 1 lakh and the maximum sum-insured of Rs 5 lakh.

• The regulator said the product shall be named ‘Arogya Sanjeevani Policy’ followed by the insurer’s name.
• The Arogya Sanjeevani policy is a first of its kind standard health insurance product.
•  Insurers will have to offer this product starting April 1, 2020.

BUSINESS & ECONOMY

HAL, Wipro ink pact for 3D printing in aerospace

In a first, defence PSU Hindustan Aeronautics Limited (HAL), and Wipro 3D, the metal additive manufacturing business of Wipro Infrastructure Engineering, have signed an MoU to design, develop, manufacture and repair of aerospace components using metal additive technology.

Indian Bank sings MoU with Women Entrepreneurs Welfare Association to provide credit

Indian Bank has signed an MoU with the Women Entrepreneurs Welfare Association (WEWA), Tamil Nadu, to offer training and credit linkage to women members/entrepreneurs of the association for establishing business.

• The bank, which has dedicated products especially designed for women customers, said WEWA members would get support for loans at special discounted rates.

SPORTS

CWG 2022: Union Sports Ministry gives in-principle approval to hold shooting, archery events in India

The Union Sports Ministry has given ‘in-principle’ approval to holding the Commonwealth Games shooting and archery events in India.

• Both the events will be held under the aegis of the Commonwealth Games Friendship Program in March 2022.

BOOKS

Malayali author Sethu pens first novel in English

Noted Malayali writer A Sethumadhavan, popularly known as Sethu, has come out with his first novel in English in which he talks about how social evils continue to plague the Indian society.

• In “The Cuckoo’s Nest”, the author attempts to fight against these divisions in society through the character of the eternal optimist, Madam Agatha, a former nun.

OBITUARIES

Former Karnataka Governor T N Chaturvedi passes away

Former Governor of Karnataka T N Chaturvedi has passed away recently. He was 90.

• T N Chaturvedi served as of Comptroller and Auditor General of India from 1984 to 1989. He was awarded the Padma Vibhushan in 1991.

Former MP Kamal Bahadur Singh passes away

Kamal Bahadur Singh, a member of the country’s first Lok Sabha – constituted in 1952 – and the last maharaja of erstwhile Dumraon Raj (zamindari estate), has passed away. He was 94.

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