We are here for you to provide the important Current Affairs December 5 2018, which have unique updates of all daily events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.
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Indian Navy to conduct ‘Exercise sea vigil’ as a part of 2-month long Exercise TROPEX
On December 4, 2018, Indian Navy Chief Admiral Sunil Lanba announced conduction of a 2-month long Theatre Level Operational Readiness Exercise (Tropex) in January 2019. It would end in March 2019.
To check on the costal defence system
i. This would test the combat capability of the Indian Navy, Indian Army, Indian Air Force and Coast Guard, and would strengthen interoperability and joint operations in complex conflict situation.
ii. Under this, it would also conduct a large-scale coastal defence exercise ‘Exercise Sea Vigil’ to test the robustness of the entire coastal security apparatus.
About Sea vigil exercise:
i. It is a yearly exercise that takes place on the Western Seaboard with participation of over 45 ships from both the Western and Eastern Naval Commands of the Indian Navy.
ii. This would involve all stake holders across mainland and Island territories including participation of ships, submarines and aircrafts.
iii. The following are the few examples of the participants in the sea vigil exercise:
INS Vikramaditya, submarines including the nuclear powered Chakra, naval aircraft MiG-29K, helicopters as well as ships from the Coast Guard. Since its a tri-service exercise troops from the Army and fighter aircraft from the Indian Air Force including the SU-30 MKI, Jaguars and the AWACs.
Earlier, joint coastal security exercises such as ‘Sagar Kavach’ and ‘Avardhan’ have significantly augmented the collective surveillance efforts along the coastal areas.
♦ Chief of Naval Staff: Admiral Sunil Lanba.
♦ Vice-Chief of Naval Staff: Vice Admiral Ajit Kumar.
♦ Headquarters: New Delhi.
♦ Navy Day (National): December 4.
First 2-day India-ASEAN InnoTech Summit held in New Delhi
On November 30, 2018,First 2-day India-ASEAN InnoTech Summit concluded in New Delhi.It commenced on November 29,2018.
i. It was organized by:
- Federation of Indian Chamber of Commerce and Industry (FICCI) in association with
- the Department of Science and Technology (DST) and
- the Ministry of External Affairs.
ii. The theme of the Summit was: ‘India ASEAN InnoTech Summit: Accelerating towards innovative development‘.
iii. Participating ASEAN Member Countries: Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam.
iv. The main objective of the summit is to have B2G one to one meetings with ASEAN delegation of ministers, advisors, and other dignitaries to enable commercialization of research and promote cross country partnerships.
v. This provided the ASEAN-India Innovation Platform (AIIP) which is a major element of the enhanced the ASEAN-India S&T Development Fund (AISTDF), which is a part of ASEAN-India Science & Technology Collaboration.
vi. Under the ASEAN-India Innovation Platform,
- 400 technologies are ready to be commercialised in ASEAN member states,
- New technologies are underway at the 38 laboratories of the Council of Scientific & Industrial Research.
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In the global list of 1207 research institutions supported by government funding, India stood at the 9th position.
Association of Southeast Asian Nations(ASEAN):
♦ Headquarters: Jakarta, Indonesia.
♦ Member countries (10): Brunei, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam.
Federation of Indian Chamber of Commerce and Industry (FICCI):
♦ Headquarters: New Delhi.
♦ Secretary-General: Dilip Chenoy.
Delhi government launched ‘One’ card for ease of commute on metro, buses
On December 4, 2018, Delhi government announced the launch of a common mobility card called ‘One’, with a tagline of ‘One Delhi One Ride’, for easy commute on public transport.
i. It was launched by Delhi Transport Minister Kailash Gahlot and Delhi Metro Rail Corporation (DMRC) managing director Mangu Singh.
ii. This would enable access to Metro and bus services with a single card at a 10 per cent discount.
iii. Further provision of coverage of auto-rickshaws, taxis, RTVs and other modes of transport would be inducted under this card.
Physical features of the Card:
i. The ONE card has a background of cubic grid in bright shades of red and yellow.
ii. It also has a circular unit with sketches of Metro trains, DTC buses, auto rickshaws and Delhi’s monuments around it.
iii. The newly designed revamped card will now carry the logos of all three transport operators in the city – DMRC, DTC and the Delhi Government.
♦ Chief Minister: Arvind Kejriwal
♦ Deputy CM: Manish Sisodia.
♦ Governor: Shri. Anil Baijal.
♦ National Parks: National Zoological Park, Chilla National Park
8th Session of the foreign Office Consultations between India and Sudan held in New Delhi
On 3rd December 2018, 8th session of the foreign Office Consultation between India and Sudan was held in New Delhi to review the entire gamut of bilateral relations that include political, trade, investments, defence and security.
The Indian side was led by the Dr B. Bala Bhaskar, Joint Secretary (West Asia and North Africa) in the Ministry of External Affairs and Sudanese side was led by Mahmoud Fadl Abdel Rasoul Mohammed,Director General of Arab and Asian Affairs in the Ministry of Foreign Affairs of Sudan.
SHINYUU Maitri 18: First 5-day India, Japan air exercise commenced in Agra, Uttar Pradesh
On December 3, 2018, the first bilateral air exercise 5-day “SHINYUU Maitri-18” commenced at the Air Force station in Agra in northern state of Uttar Pradesh.It would conclude on 7th December,2018.
i. The theme of the exercise is: ‘Joint mobility and humanitarian assistance and disaster relief (HADR) on transport aircraft’.
ii. It would be attended by:
The Japanese Air Self Defence Force (JASDF) from Japan’s side and
Indian Air Force (IAF) from the Indian side.
iii. The JASDF’s ‘C2′ aircraft is participating along with IAFs ‘AN-32’ and ‘C-17’.
♦ Capital: Tokyo.
♦ Currency: Japanese yen.
Overview of Prime Minister Shri Narendra Modi’s 3-day visit to Argentina to take part in 2-day 13th G20 Summit
On November 29, 2018, Prime Minister Narendra Modi embarked on a 3-day visit to Buenos Aires, Argentina for the commencement of the 2-day 13th G20 Summit. The theme of the 2018 edition of the Summit was: “Building Consensus for Fair and Sustainable Development”.
- The 14th edition of the G20 summit will be held in Japan while Saudi Arabia will host the 15th.
- India upon attaining 75 years of Independence on 2022 will host the G-20 Summit which was previously scheduled to be hosted by Italy
- India, Japan and the US held a trilateral meeting for the first time on the sidelines of the G20 Summit in Argentina. Thus the acronym ‘JAI’ means: ‘Japan, America and India’.
- He also participate in the first-ever trilateral meeting between Japan, America and India and the 2nd Russia, India China (RIC) trilateral, which is taking place after an interval of 12 years.
- PM Modi along with the heads of the Federative Republic of Brazil, the Russian Federation, the Republic of India, the People’s Republic of China and the Republic of South Africa, held the annual Informal BRICS Leaders’ Meeting on the margins of the G20 Summit in Buenos Aires, Argentina. The 11th BRICS Summit to be hosted by Brazil in 2019.
- PM Narendra Modi received a football jersey with his name on its back from the FIFA President Gianni Infantino.………………………..Click here to Read more
BANKING & FINANCE
Government of India and Asian Development Bank inked $85 Million loan to support Odisha Skill Development Project
On December 3, 2018, the Government of India and the Asian Development Bank (ADB) signed a $85 million loan in New Delhi, under the Odisha Skill Development Project to promote skill development in Odisha.
This project would also receive a $2 million technical assistance grant from the Japan Fund for Poverty Reduction, financed by the Government of Japan. It will be administered by ADB.
i. The agreement was signed between:
- Additional Secretary in the Finance Ministry Sameer Kumar Khare and
- Country Director of ADB’s India Resident Mission Kenichi Yokoyama.
ii. Under this project, the World Skill Center (WSC), an advanced skill training centre would be established in Bhubaneswar, Odisha.
iii. The operationalization of the WSC would be supported by:
- Institute of Technical Education Services (ITEES), Singapore and
- Odisha Skill Development Authority.
iv.The WSC would mainly support a network of Government ITIs and develop skills and capacity of polytechnics, college of engineering, and other private skilling centres under State’s TVET (Technical and Vocational Education and Training) programs.
v.Under the Project,
- over 1.5 lakh people would learn skills in priority sectors, including manufacturing, construction and services for formal employment,
- It would provide 8 training courses for 13,000 full-time students, training for 5,000 teachers, and train 1,000 assessors.
vi. Additionally, the WSC will have an entrepreneurship incubation centre, a career counselling and placement centre, a curriculum design and development centre, and education technology deployment centre.
♦ Headquarters: Manila, Philippines.
♦ President: Takehiko Nakao.
♦ Established in 1966.
♦ Members: 67 (48 regional members).
♦ Chief Minister: Naveen Patnaik.
♦ Governor: Prof. Ganeshi Lal.
♦ Lakes : Chilika Lake, Kanjia Lake, Anshupa Lake, Balimela Reservoir.
♦ Dams: Rengali Dam, Kala dam, Pitamahal Dam, Kansbahal Dam, Tikhali Dam, Deras Dam, Salia Dam, Ghodahada Dam, Kuanria Dam.
♦ Festivals: Kalinga Mahotsav, Chandan Yatra, Durga Puja, Konark Dance Festival, Rath Yatra, Deepavali, Kumar Purnima
BUSINESS & ECONOMY
India’s growth forecast cut by 10 bps to 7.4% on weakening global growth: CRISIL
On December 3, 2018, Crisil cut India’s growth forecast for current fiscal, by 10 basis points, to 7.4 per cent citing weakening global GDP and trade growth as the reasons for the decline.
i. Due to lower global trade and GDP growth, emerging economies such as India would face a downward growth.
ii. The decline is due to the global growth prospects that are turning weaker than earlier estimate and if the liquidity problems persist that might effect the demand, further hampering the GDP. India’s export will have a slow trajectory of growth compared to the early part of 2018.
iii. However, India’s growth in fiscal 2019 will be faster compared to the previous fiscal despite the decline.
iv. As for the rest of the fiscal of 2019, growth will find support from private consumption, continuous government spending on construction activities, favourable inflation and revision in government salaries at the state level.
India’s growth in the July-September quarter slipped to 7.1 per cent from 8.2 per cent in the April-June quarter.
♦ Headquarters: Mumbai.
Economic Development board (EDB) signed MoU with the Maharashtra Government to promote Fintech
On 4th December 2018, The Economic Development Board (EDB), the investment promotion arm of the Kingdom of Bahrain signed Memorandum of Understanding (MoU) with Maharashtra Government to promote FinTech in their respective markets.
The MoU was signed by Dr. Simon Galpin, Managing Director of EDB, and Mr. S.V.R. Srinivas, IAS Principal Secretary, Directorate of Information Technology.
AWARDS & RECOGNITIONS
Kohli honoured by Bradman Museum ahead of India-Aus Test
On 2nd December 2018, the Indian cricket team captain Virat Kohli has received a special honour as a signed jersey that he donated after scoring his hundred in the fourth Test at the Sydney Cricket Ground (SCG) during India’s tour of Australia in 2014-15 has been placed next to Sachin Tendulkar’s portrait at the Bradman Museum.
i. The Indian Captain Virat Kohli signed and presented his shirt to Cricket Australia Liaison Officer Pearce Gibbons in appreciation of his assistance to the Indian side throughout the summer at the conclusion of the fourth test and thereafter Pearce Gibbons donated the shirt to the museum for public display.
ii. Indian cricketers like the legendary Kapil Dev and Tendulkar have a memento celebrating their achievements placed at the iconic museum.
iii. The Museum is also known as ‘The Home of Cricket Memories.’
Tuhin becomes first Indian to scale Sahayadri mountain range
On 3rd December, 2018 Tuhin Satarkar, became the first Indian to climb three routes in the treacherous Sahayadri mountain range in 12 days, from November 16 to 28.
i. The pune based bouldering(rock climbing) sensation climbed- Dhodap, Jivdhan and Naneghat, three famous peaks which are known to have been ascended by Chatrapati Shivaji Maharaj and his Marathi Malvas.
ii. Both the parents of the Red Bull athlete Tuhin were also climbers.
iii. Tuhin took to the vertical sport at the age of eight and has been pushing boundaries ever since.
About Sahyadri Mountains:
Sahyadri is a mountain range of Western Ghats, which is a UNESCO World Heritage Site and is one of the eight “hottest hot-spots” of biological diversity in the world.
2018 Ballon d’Or:Luka Modric and Ada Hegerberg win awards
On 3rd December 2018, an annual football award ,2018 Ballon d’Or Award was announced.Real Madrid’s Croatia midfielder Luka Modric was named winner of the 2018 Ballon d’Or.Ada Hegerberg was named as the First Recipient of Ballon d’Or Féminin award 2018.The award functions held in Paris (France).
i. Juventus forward and 2017 winner Ronaldo came second, while Atletico Madrid and France striker Antoine Griezmann came third.
ii.Ada Hegerberg of Norway becoming the inaugural recipient of the Ballon d’Or Féminin award was followed by Pernille Harder of Denmark and Dzsenifer Marozsán of Germany.
iii. Paris St. Germain’s France forward Kylian Mbappe, who also collected the Kopa award for the best under-21 player, was fourth, with Barca forward Messi finishing fifth.
iv. The Ballon d’Or is an annual football award presented by France Football.It has been awarded since 1956.The Ballon d’Or Féminin, also known as the Women’s Ballon d’Or was also introduced by France Football that honours the best female association football player in the year 2018.
v. 2018 FIFA World Cup held in Russia won by France beating Croatia in the finals.2022 FIFA World Cup scheduled to take place in Qatar.
♦ Capital: Paris
♦ Currency: Euro
♦ President: Emmanuel Macron
♦ Capital: Zagreb
♦ Currency: Kuna
♦ President: Kolinda Grabar kitarovic
♦ Capital: Doha
♦ Currency: Qatari Riyal
APPOINTMENTS & RESIGNS
Jon Ridgeon Appointed CEO of IAAF
On 3rd December 2018, the International Association of Athletics Federations (IAAF) announced the appointment of Jon Ridgeon as its new CEO following approval by the IAAF Council on the first day of its 215th Council Meeting in Monaco.
i. British former hurdler JonRidgeon will take up the new role in March 2019.
ii. He succeeds Olivier Gers, who resigned in March, and Nigel Garfitt, who has served as acting CEO.
iii. Ridgeon, 51, competed in both the 110m and 400m hurdles between 1984 and 1996, winning silver in the shorter event at the 1987 World Championships and represented Great Britain in the 1988 and 1996 Olympic Games.
iv. He was also one of the architects of the IAAF’s Diamond League Series, an annual series of elite track and field athletic competitions.
About International Association of Athletics Federations (IAAF):
♦ Headquarters: Monaco
♦ President: Sebastian Coe
Ajay Narayan Jha takes over as Finance Secretary
On 3rd December 2018, Ajay Narayan Jha, the current expenditure secretary, in the Ministry of Finance has been appointed as the new finance secretary, by the Union Government.
i. Ajay Narayan Jha, is a 1982-batch IAS officer of Manipur- Tripura cadre, and has succeeded Hasmukh Adhia who retired on November 30.
ii. Prime Minister Narendra Modi-led appointments committee of the Cabinet has cleared Jha’s appointment to the post.
iii. Jha is an alumnus of St Stephens College. He is also an MPhil in public administration from Delhi University. Besides he is a recipient of World Bank scholarship to pursue masters in economic policy management from McGill University in Canada.
iv. There are five secretaries in the Finance Ministry, and the senior most of them is normally designated as the Finance Secretary.
v. Recently the government also announced that Unique Identification Authority of India (UIDAI) CEO and the chairman of Goods and Services Tax Network (GSTN), Ajay Bhushan Pandey will be the next Revenue Secretary while continuing to work for UIDAI and GSTN.
About Ministry of Finance:
♦ Minister of Finance: Shri Arun Jaitley,
♦ Minister of State for Finance: Shri Pon. RadhaKrishnan, Shri Shiv Pratap Shukla
♦ Headquarters: New Delhi
Ex-IRDAI chief TS Vijayan appointed as additional director of YES bank board
On December 3, 2018, Private sector YES Bank appointed the former chief of IRDAI and LIC, TS Vijayan, as Additional Director (Independent) on its board for a period of five years.
i. Vijayan is also a member of the ‘Search and Selection Committee’, which was set up by the bank to identify a suitable successor for Managing Director and CEO Rana Kapoor.
ii. Rana Kapoor, MD and CEO of YES Bank, will step down from his current position on January 31, 2019.
♦ Headquarters: Mumbai.
♦ Tagline: Experience our Expertise.
IL&FS appoints ex-L&T executive N Sivaraman as group COO
On 03rd December 2018, Debt-laden Infrastructure Leasing and Finance Company (IL&FS) , appointed N Sivaraman as group Chief Operating Officer (COO).
i. Sivaraman will be part of the core operating committee and report to Vineet Nayyar, vice chairman and managing director, IL&FS Group.
State Bank of India ropes in Swapna Barman as brand ambassador for YONO
On 03rd December 2018, the State Bank of India has roped in Asian Games gold medalist Swapna Barman as brand ambassador for its digital app YONO(You only need one).
YONO is an integrated digital banking platform offered by State Bank of India (SBI) to enable users to access a variety of financial and other services such as taxi bookings, online shopping, or medical bill payments.
ACQUISITIONS & MERGERS
HUL board approves merger with GlaxoSmithKline Consumer Healthcare
On 03rd December 2018,FMCG major Hindustan Unilever Limited (HUL) approves the merger with GlaxoSmithKline Consumer Healthcare (GSKCH India) through an-all equity deal, valuing the total business of the latter at 31,700 crore.
The transaction is an all equity merger with 4.39 shares of HUL being allotted for every share in GSKCH India.
SCIENCE & TECHNOLOGY
SpaceX launches India’s first privately built satellite ExseedSAT 1
On 3rd December 2018, SpaceX founded by Elon Musk, launched India’s first privately built satellite ExseedSAT 1 along with 63 other satellite from 18 countries in the company’s largest-ever “rideshare” mission on a twice-reused Falcon 9 rocket from the Vandenberg air force base in California, USA.
i. ExseedSAT 1 was built at a cost of Rs. 2 Crore by the Mumbai based Startup Exseedspace.
ii. ExseedSAT 1 which weighs around 1 kg is an open radio transponder that works on ham frequencies.
iii. The satellite will have a life span of 5 years and it will allow people to receive signals on 145.90 Mhz frequency with the help of a TV tuner.
iv.It was also the second-biggest satellite rideshare mission in history after the Indian Space Research Organisation’s 104-satellite-mission in a single launch in February,2017.
Soyuz first manned mission to ISS since October failure
On 3rd December 2018, the first manned Soyuz spacecraft since the failure of 11th October launch which carries Russian, American and Canadian astronauts arrived at the International Space Station (ISS).
i. Three Astronaut Oleg Kononenko from Russia, Anne McClain of NASA and David Saint Jacques of the Canadian Space Agency were part of this manned mission.
ii. The Astronauts successfully docked at the ISS and they will stay at the International Space Centre for six and half months.
iii. It was the first manned voyage for the soviet-era Soyuz since a launch failure in October which was caused due to a sensor damage during the assembly at Baikonur Cosmodrome.
BOOKS & AUTHORS
Ministry of Home Affairs released a booklet titled “A Handbook for Students on Cyber Safety” to create awareness among teenagers about online Crimes and Threats
The Ministry of Home Affairs released a booklet in English language titled “A Handbook for Students on Cyber Safety” to create awareness among the Students and Adolescents about the cyber safety.
i. The book explains the various kinds of Cyber-crimes like identity theft, job fraud, email spoofing and how children can overcome them.
ii. The booklet also address the problems associated with increased use of smartphones, Social Media, Online gaming.
iii. As per the directions of Supreme court of India, MHA last year set up a Cyber and Information Security Division (C&IS) to check the rapid growth of cyber-crimes and cyber threats.
About Ministry of Home Affairs
♦ Union Minister: Rajnath Singh
♦ Minister of State: Hansraj Gangaram Ahir and Kiren Rijiju
Navy Day 2018 – December 04
On 4th December 2018, India celebrated its 47th Navy Day. The day is celebrated in honour of the maritime force’s role during the war with Pakistan in 1971 when Indian warships attacked Karachi port.
i. It was on this day in 1971 that Indian Navy left its shores for the very first time to successfully attack Pakistan.Operation Trident, the codename for the naval attack on Karachi, is considered one of the most successful operations in the post-World War II era.
ii. The Maratha Emperor, “Chhatrapati Shivaji Bhosle” is considered as ‘Father of the Indian Navy’.
iii. The Navy showcased an impressive show of skill amid a sea of colours at the Gateway of India in Mumbai.
About Indian Navy
Chief of Indian Navy: Admiral Sunil Lamba