Daily Current Affairs 9 May 2019 for Banking/Insurance/SSC and other related exams.
MNRE held ‘chintan baithak’ session for stakeholders in renewable energy industry
The Ministry of New and Renewable Energy (MNRE) held a brainstorming session for all stakeholders in the renewable energy industry. Presentations were made by CEOs on topics such as regulatory hurdles, energy storage, transmission constraints and low cost and long term funding among others.
- This ‘chintan baithak’ was the first of its kind organised by MNRE. Ceiling tariff which has been a recent bone of contention between the ministry and developers was brought up.
Singapore passes ‘fake news’ law
Singapore’s parliament passed the Protection from Online Falsehood and Manipulation Act (POFMA), a move to tackle the spread of online fake news. The bill was passed after two days of debate in the parliament. A total of 72 Members of Parliament (MP) voted for the bill.
- Individuals found guilty under the new law could face jail terms of up to 10 years. The bill includes powers for ministers to order sites like Facebook, Google and Twitter to put warnings next to posts authorities deem false and in extreme cases, to take them down.
- Extra info.:
Singapore Currency: Singapore dollar
BUSINESS & ECONOMY
Food inflation likely to go up to 2% in FY20, says Goldman Sachs report
Food inflation in the country is likely to go up to 2 per cent in the financial year 2019-20 from the 0.7 per cent estimated for FY19. The low food prices have been one of the prime factors which has aided the RBI to be more accommodatory in its rate setting recently.
- In the report, foreign brokerage Goldman Sachs attributed the low food prices in the last few months to the prices of cereals and vegetables which have been low for some time.
- Extra info.:
Goldman Sachs Headquarters: New York
India Ratings downgrades Yes Bank’s long-term ratings
India Ratings has downgraded Yes Bank‘s long-term issuer rating from ‘IND AA plus’ to ‘IND AA minus’ with a negative outlook. Recently, Rating agency ICRA had downgraded the bank’s tier-I bond from ‘AA-minus’ to ‘A’ and tier-II bonds from ‘AA’ to ‘AA minus.’
- The bank reported its maiden loss of over Rs 1,506 crore in the fourth quarter of 2018-19 ending March 31, driven by a near ten-fold spike in provisions. However, India Ratings and Research (Ind-Ra) affirmed the bank’s short-term issuer rating at ‘IND A1 plus.’
India re-elected as observer to Arctic Council
India has been re-elected as an observer to intergovernmental forum Arctic Council. The Arctic Council promotes cooperation, coordination and interaction among Arctic states, the region’s indigenous communities and other inhabitants on common issues, particularly on sustainable development and environmental protection.
- Canada, Denmark, Finland, Iceland, Norway, Russia, Sweden and the United States are members of the Arctic Council. Indian researchers have been studying whether there is a co-relation between Indian monsoon and the Arctic region.
- India’s National Centre for Polar and Ocean Research, an institute under the Ministry of Earth Sciences, has set up a research station, ‘Himadri‘, in Svalbard in Norway that works on the mass balance of glaciers, the effect of the warming on the marine system, the formation of clouds and precipitation, and the effect on biodiversity.
Rakesh Sharma, Bajaj Auto Executive Director has been elected as IMMA Vice-President
Auto industry body SIAM said Bajaj Auto Executive Director Rakesh Sharma has been elected as Vice-President of Geneva-based International Motorcycle Manufacturers Association (IMMA).
- Sharma, a representative of the Society of Indian Automobile Manufacturers (SIAM), was elected Wednesday during the annual general meeting of (IMMA) at Yogyakarta, Indonesia.
Baidyanath Mishra, the renowned economist and educationist passes away
Renowned economist Baidyanath Mishra passed away at his residence in Bhubaneswar. He was 99. Mishra had started his career as a lecturer in Ravenshaw University in Cuttack in 1949. He later worked at Odisha University of Agriculture and Technology (OUAT). He was vice-chancellor of OUAT from 1981 to 1985.
- Mishra was also the chairman of State Planning Board from 1985 to 1990.
Veteran Bengali actor Mrinal Mukherjee passes away
Veteran television and film actor Mrinal Mukherjee passed away. He was 74. Mrinal Mukherjee made his debut with the 1955 film Dui Bon. He featured in many commercially successful films such as Golpo Holeo Sotti, Nayika Sangbad, Chuti, Shriman Prithviiraj, among others.
- The actor also worked with Bollywood lyricist Gulzar. The two collaborated for the film Mausam, which went onto become one of Mrinal Mukherjee’s most memorable performances. He was last seen in Barun Sobti’s 2018 sports drama titled 22 Yards.
World Red Cross Day
World Red Cross Day, also known as World Red Cross and Red Crescent Day which is observed every year on May 8 is a gentle nod to all the volunteers who have made unparalleled contribution to people in duress or need.
- The 2019 theme chosen is, ‘#Love’ and aims to broaden the public’s understanding of the society by highlighting the diversity and universality of its work and approach. The day is celebrated every year to commemorate the principles of International Red Cross and Red Crescent Movement.
World Thalassemia Day
The International Thalassaemia Day, celebrated on May 8 every year is a commemoration day in honour of all patients with thalassaemia and their wards who never gave up despite all odds. The day is a further nod to the researchers who are striving to create an improved quality of life for people with thalassaemia across the world.
- The theme for International Thalassaemia Day 2019 (ITD2019) is “Universal access to quality thalassaemia healthcare services: Building bridges with and for patients.”