Daily Current Affairs 5 November 2019 for Banking/Insurance/SSC and other related exams.
Finance Minister launches two IT initiatives ICEDASH and ATITHI
Finance Minister Nirmala Sitharaman unveiled two new IT Initiatives – ICEDASH and ATITHI for improved monitoring and pace of customs clearance of imported goods and facilitating arriving international passengers.
- ICEDASH is an Ease of Doing Business monitoring dashboard of the Indian Customs helping the public see the daily Customs clearance times of import cargo at various ports and airports.
- The ATITHI app will facilitate hassle-free and faster clearance by Customs at the airports and enhance the experience of international tourists and other visitors at the airports.
Odisha government signs pact with Tata Strive, Tech Mahindra for skill upgradation
The Odisha state government has signed agreements with Tata Strive and Tech Mahindra to add new dimensions in skilling and employability of the youth.
- The agreement between Directorate of Technical Education and Training and Tata Strive is aimed at imparting life skills to the students of all 49 government Industrial Training Institutes (ITIs) in the state.
PM Modi inaugurates 5th India International Science Festival
Prime Minister Narandra Modi inaugurated the 5th edition of India International Science Festival (IISF) 2019 through video conferencing in Kolkata. The four-day science festival, being organized from November 5-8 , aims to build a strategy for inclusive advancement of Science and Technology.
- The theme of the festival is “RISEN: Research, Innovation and Science Empowering the Nation”
PM Modi attends third RCEP summit in Bangkok
Prime Minister Narendra Modi attended the third Regional Comprehensive Economic Partnership (RCEP) meeting along with the delegates from other countries in Bangkok, Thailand.
- Also, India has decided not to join the Regional Comprehensive Economic Partnership (RCEP) agreement as its key concerns have not been addressed.
- RCEP is a proposed free trade agreement among 10 ASEAN countries, namely, Brunei, Cambodia, Indonesia, Malaysia, Myanmar, Singapore, Thailand, the Philippines, Laos and Vietnam and their six FTA partners China, Japan, India, South Korea, Australia and New Zealand.
Guyana to be fastest growing country in the world next year at 86%
According to the International Monetary Fund (IMF), Guyana’s GDP is expected to be more at 86% in 2020 after expanding 4.4% in 2019.
- Guyana’ GDP is to get fourteen times as fast as China’s GDP in 2020. Guyana is projecting $300 million in petroleum revenue in 2020.
Sri Lanka hosts biennial Commonwealth Law Ministers Conference
The biennial Commonwealth Law Ministers’ Conference is being held in Colombo, Sri Lanka from 4-7 November 2019. India will be represented at the conference by Union Minister for Law and Justice Ravi Shankar Prasad.
- The theme for the 2019 CLM Conference is ‘Equal Access to Justice and the Rule of Law’.
India, Bangladesh to jointly produce film on Bangabandhu: Javadekar
India and Bangladesh will jointly produce two separate films based on Bangladesh’s Liberation War and on the country’s founding father Bangabandhu Sheikh Mujibur Rahman, Information and Broadcasting Minister Prakash Javadekar said.
- Javadekar is on a two-day visit to Bangladesh to attend the 15th meeting of the Governing Council of South Asia Cooperative Environment Programme (SACEP).
BANKING & FINANCE
RBI announces opening of first cohort under the regulatory sandbox
The Reserve Bank of India (RBI) announced the opening of the first cohort under the regulatory sandbox with retail payments as its theme.
- The adoption of retail payments as the theme is expected to spur innovation in digital payments space and help in offering payment services to the unserved and underserved segment of the population.
- Migration to digital modes of making a payment can obviate some of the costs associated with a cash economy and can give customers a friction-free experience.
BUSINESS & ECONOMY
Unemployment in October rises to 8.5%, highest in over 3 years
India’s unemployment rate in the month of October jumped to 8.5 per cent, which is the highest in over three years.
- Fresh data released by the Centre for Monitoring Indian Economy (CMIE) showed that the rise in India’s unemployment rate in October was the highest since August 2016.
India’s economy to grow 6.6% in 2020-24: OECD
India’s gross domestic product (GDP) could grow 6.6% in 2020-24, lower than its 2013-17 average of 7.4%, the Organisation for Economic Co-operation and Development (OECD) said.
- The organisation has predicted a regional GDP growth of 5.7% over 2020-24, down from 6.7% in 2013-17.
Long jumper Shaili Singh breaks national record at Junior Athletics Meet
Karnataka’s Shaili Singh broke the long jump national record in the girls under-16 and under-18 groups at the 35th National Junior Athletics Meet in Guntur, Andhra Pradesh. With this win, she now qualifies for the World Junior Athletics Championships in 2020.
Amy Kenealy retires from international cricket
Ireland women’s cricketer Amy Kenealy has announced her retirement from international cricket. The 31-year-old’s cricket career with the senior side spanned for 11 years after she made her debut in 2008
IndusInd Bank appointed Sumant Kathpalia as new MD & CEO
A private sector lender, IndusInd Bank has appointed its consumer banking head Suman Kathpalia, as its new Managing Director (MD) and Chief Executive Officer (CEO). He will replace Romesh Sobti.
Aditya Mishra appointed as chairman of Land Ports Authority of India
Senior IPS officer Aditya Mishra was appointed as the chairman of the Land Ports Authority of India (LPAI). He is a 1989 batch IPS officer of Uttar Pradesh cadre. The Appointments Committee of the Cabinet has approved the appointment of Mishra as the chairman of the LPAI on the recommendations of a search-cum-selection panel.
Madhuri Vijay’s debut novel ‘The Far Field’ wins 2019 JCB prize for Literature
U.S. based-Indian author Madhuri Vijay’s debut novel, “The Far Field” bagged this year’s JCB prize for Literature, the most expensive Indian award for writing.
- The novel, published by Fourth estate India , sets a complex personal story against the backdrop of the conflict in the 1990s in Kashmir.
- The award is funded by English construction manufacturing group JCB, which established the JCB Literature Foundation to maintain this award.
Retired judge of Madras HC, N.V. Balasubramanian passes away
Justice N.V. Balasubramanian, retired Judge of Madras High Court passed away. He served as the Madras High Court judge from 1996 – 2007 & as the Chairman of committees on fixation of fee for self-financing professional colleges and polytechnics after retiring from service.