Daily Current Affairs 5 June 2019 for Banking/Insurance/SSC and other related exams.
India loses its spot as world’s fastest growing economy to China
India lost its spot as the fastest growing major economy to China in the January-March quarter for the first time in one-and-a-half years, government data showed. India’s Gross Domestic Product (GDP) growth rate slowed to 5.8% in the quarter, compared to China’s 6.4%. This is also India’s slowest growth rate in five years.
AYUSH Ministry launches App to locate yoga centres, instructors
Ahead of the International Yoga Day on June 21, the AYUSH ministry has launched a mobile application to enable people locate yoga events and centres providing training. The users will also be able to look for certified yoga instructors.
- ‘yoga locator’- a map-based location app – will also enable yoga instructors to register themselves and reach out to a maximum number of people.
Delhi Metro becomes India’s first project to receive power from waste-to-energy plant
Continuing its efforts to establish an environment-friendly network, the Delhi Metro has become the first ever project in the country to receive power generated from a waste-to-energy plant.
- The Delhi Metro Rail Corporation (DMRC) said it has started receiving 2 MW power from a 12 MW capacity waste-to-energy plant set up in Ghazipur.
Mumbai traffic worst among world’s 403 cities, Delhi ranks 4th: Study
Mumbai had the worst traffic congestion in 2018, an analysis of 403 cities across 56 countries on six continents in ‘Traffic Index-2018’, compiled by location technology specialist TomTom, has found. Mumbai was followed by Colombia’s Bogota, Peru’s Lima and Delhi in traffic congestion. It added that the best time to drive in Mumbai was between 2 AM to 5 AM.
Nirmala Sitharaman to attend G20 Finance Ministers’ Meeting in Japan
Finance Minister Nirmala Sitharaman will attend the two-day meeting of G-20 Finance Ministers and central bank governors in Japan.
- She took charge as the first full-time woman Finance Minister of the country, recently. RBI Governor Shaktikanta Das is also likely to attend the meeting at Fukuoka in Japan.
‘2nd Global Disability Summit’ to be held in Buenos Aires
The ‘2nd Global Disability Summit’ will be held in Buenos Aires, Argentina. The Indian delegation will be headed by Union Minister for Social Justice and Empowerment Thaawarchand Gehlot.
- The objective of the summit is to deliberate on issues across the world concerning empowerment and inclusion of Persons with Disabilities (PwDs) and to work out a mechanism for enabling them to live an independent and dignified life.
Growth rates in low-income countries below mark to reduce poverty: World Bank
Growth rates in low-income countries are expected to rise to 6 per cent in 2020 from 5.4 per cent this year, but that is still not enough to substantially reduce poverty, according to the World Bank (WB).
- A number of low-income countries progressed to middle-income status between 2000 and 2018, the remaining low-income countries face steeper challenges to achieving similar progress, the WB said in a report.
BUSINESS & ECONOMY
World Bank cuts global growth forecast for 2019 to 2.6%
In light of numerous factors pertaining to escalated trade tensions around the globe in recent months, the World Bank slashed its global growth forecast for 2019 to 2.6 per cent as opposed to 2.9 per cent announced in January this year.
- The semi-annual forecast data released by the World Bank on Tuesday suggests that the global trade growth in 2019 would be the weakest since the 2008 financial crisis, after being revised down a full percentage point, to a mere 2.6 per cent.
World Bank retains India’s growth rate for FY19-20 at 7.5%
The World Bank retained its forecast of India’s growth rate at 7.5 per cent for the current financial year. In its Global Economic Prospects report, the World Bank also said growth rate is expected to remain the same for the next two fiscals.
Unemployment rate at 6.1% in 2017-18, highest in 45 years: Govt data
Confirming unemployment rate projected in a pre-election leaked report, the government said joblessness in the country was 6.1 per cent of total labour force during 2017-18, the highest in 45 years.
- The data released by the government on a day when Modi 2.0 Cabinet took charge showed 7.8 per cent of all employable urban youth being jobless, while the percentage for the rural was 5.3 per cent.
- The joblessness among male on all India basis was 6.2 per cent, while it was 5.7 per cent in case of females.
L&T Finance launches ‘Sabse Khaas Loan’ for two-wheeler customers
L&T Finance, a subsidiary of L&T Finance Holdings, launched ‘Sabse Khaas Loan’ for two-wheeler customers.
- The scheme not only provides hassle-free and low-cost finance for two-wheelers but also eliminates the need for hypothecation of vehicle to the financier over the tenure of the loan.
ADB commits USD 350 mn loan for Chhattisgarh road improvement project
Multi-lateral funding agency Asian Development Bank (ADB) has approved USD 350 million loan for road project in Chhattisgarh.
- ADB has approved a USD 350 million loan to rehabilitate and upgrade state highways and major district roads in Chhattisgarh which will improve connectivity and access to basic services and livelihood opportunities
- Total project cost is USD 521.69 million of which the government will finance USD 171.69 million.
Tamil Nadu Health System reform programme gets $287 mn loan from World Bank
The central government, Tamil Nadu and the World Bank have signed a $287 million loan agreement for the state’s Health System Reform Programme that aims to improve the quality of health care, reduce the burden of non-communicable diseases (NCDs), and fill equity gaps in reproductive and child health services.
- Tamil Nadu ranks third among all Indian states in the NITI Aayog Health Index. The state’s maternal mortality rate has declined from 90 deaths per 100,000 live births in 2005 to 62 deaths in 2015-16 while infant mortality has declined from 30 deaths per 1000 live births to 20 in the same period.
Indian Jr. women’s hockey team clinch Cantor Fitzgerald U21
The Indian junior women’s hockey team clinched the Cantor Fitzgerald U21 International 4-Nations title after beating Ireland 1-0 in the final at Dublin, Ireland.
Sunder Pichai, Nasdaq’s Friedman To Receive 2019 Global Leadership Award
In the United States, Google’s India-born CEO Sundar Pichai and Nasdaq president Adena Friedman have been chosen for the prestigious Global Leadership Awards 2019 by business advocacy group USIBC in recognition of the two companies’ contribution as the leading technology-driven platforms.
- The award by Washington-based US-India Business Council (USIBC) would be conferred upon Indian-American Pichai, 46, and Friedman, 50, during ‘India Ideas Summit’.
Industrialist and doyen of tea industry B M Khaitan passes away at 92
Veteran industrialist and Williamson Magor Group (WMG) patriarch Brij Mohan Khaitan passed away due to old age. He was 92 years old.
- Considered a doyen of the tea industry in independent India, Khaitan is survived by his younger son, Aditya and daughter Divya Jalan.
Veteran Comedian And Theatre Actor Dinyar Contractor passes away
Veteran model, comedian, theatre and films actor Dinyar Contractor passed away here. He was 79 and was suffering from old age related issues.
World Environment Day
World Environment Day (WED) is celebrated on the 5th of June every year, and is the United Nation’s principal vehicle for encouraging awareness and action for the protection of our environment.
- Each year, WED has a new theme that major corporations, NGOs, communities, governments and celebrities worldwide adopt to advocate environmental causes.
- The theme for 2019 is “Air pollution”. The host nation is China.
International Day For The Fight Against Illegal, Unreported And Unregulated Fishing
International Day for the Fight against Illegal, Unreported and Unregulated Fishing is organized every year on 5th June. According to the UN Food and Agriculture Organization (FAO) illegal, unreported and unregulated fishing activities are responsible for the loss of 11–26 million tonnes of fish each year, which is estimated to have an economic value of US$10–23 billion.