Current Affairs February 5 2019

We are here for you to provide the important Current Affairs February 5 2019, 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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Current Affairs February 5 2019INDIAN AFFAIRS

Overview Of Prime Minister Narendra Modi’s A Day Long Visit To Jammu And Kashmir

  • PM Shri Narendra Modi launched the University of Ladakh which is the first-ever cluster university in the Ladakh region of Jammu and Kashmir.
  • Prime Minister Shri Narendra Modi laid the foundation stone of the new terminal building of Kushok Bakula Rimpochee (KBR) Airport.
  • In Jammu Prime Minister Shri Narendra Modi laid the foundation stone of an AIIMS at Vijaypur, Samba.
  • Shri Narendra Modi dedicated to the nation the 220 kV Srinagar- Alusteng – Drass- Kargil – Leh Transmission System, the project that has connected Ladakh now to the National Grid…………….Click here to Read more

Businesswomen launched 1.38 lakh projects under PMEGP scheme
Women entrepreneurs have set up around 1.38 lakhs MSME (Micro, small and Medium Enterprises) projects under Prime Minister’s Employment Generation Programme (PMEGP) scheme,since inception and upto 23rd January, 2019.
i. These projects are about 30% of all entire projects that come under PMEGP.
ii. Under PMEGP scheme, a privilege of special category is being provided to women entrepreneurs, under which they are granted a subsidy of 25% in urban areas and 35% in rural areas for project set up.
About PMEGP:
PMEGP, a major credit-linked subsidy scheme since 2008-09, helps set up micro-enterprise. and to generate employment in rural and urban areas of the country. The maximum cost of the project under PMEGP scheme is Rs.25.00 lakhs for manufacturing sector units and Rs.10.00 lakhs for units under the service sector.

Assam tops the ranking of “best budgetary practices followed by states”: Transparency International
On 1st February 2019, according to a survey by Transparency International, Assam tops in the ranking of best practices followed by states in budget formulation. Assam is the only state to publish a citizens budget in the public domain and also to conduct budget awareness campaign across 17 districts.

Key points
i. Assam was followed by Andhra pradesh and Odisha while Meghalaya, Manipur and Punjab were figured at lower positions.
ii. This survey is based on four parameters which includes public disclosure, budgetary process, post budget fiscal management and efforts to make budget more transparent and citizen friendly.
About Transparency International
♦ Headquarter: Berlin, Germany
♦ Founded: 1993
About Assam
♦ Capital: Dispur
♦ Chief Minister: Shri Sarbananda Sonowal
♦ Governor: Shri Jagdish Mukhi

Sopan 2019, Festival for young artists held in New Delhi
On February 1,2019,The 6-day long music and dance festival to encourage young artists to take up traditional art took place in New Delhi.
i. It was Organised by Sahitya Kala Parishad and the New Delhi government, in partnership with New Delhi Municipal Council (NDMC).

Kala ghoda festival 2019 was held in Mumbai
On 2nd February 2019, the Kala ghoda festival-KAGF, India’s largest multi-cultural street festival begins in Mumbai to celebrate it’s 20 years of art and culture through cinema, theatre, dance,literature and sculpture.

Key points
i. The festival hosted the  exhibition at the Jehangir Art Gallery to celebrate the 150th birth anniversary of Mahatma Gandhi and some rich history of Mumbai.
ii. Maneck Davar is Chairman of Kala Ghoda Association.

Odisha launched Kalia scholarship scheme  to boost education for farmers children 
On february 4,2019 , Odisha Chief Minister Naveen Patnaik launched scholarship scheme named ‘KALIA Chhatravritti Yojana‘,for the children of farmers who are the beneficiaries of Krushak Assistance for Livelihood and Income Augmentation (KALIA) scheme.

About the scheme
i. Under this scheme, the beneficiaries will be provided scholarships to pursue higher education in professional courses at free of cost.
ii. Children of farmers who have taken admission at Government Professional colleges on merit basis are eligible for this scheme.
Other Projects launched:
Odisha Chief Minister also inaugurated 17 welfare projects worth Rs 66 crore and laid the foundation stone for 47 projects worth Rs 2,100 crore in Keonjhar.Few of them are,
i.Odisha Government has also launched drinking water projects worth Rs 1,050 crore to supply safe drinking water in the district.
ii. Patnaik also launched Mission Shakti Conclave dedicated the development projects worth Rs 45 crore.
About Odisha
♦ Capital: Bhubaneswar
♦ Governor: Ganeshi Lal
♦ Chief minister: Naveen Patnaik

Bhubaneswar hosted the 12th Regional Standards Conclave
12th Regional Standards Conclave was held in Bhubaneswar (Odisha) that took place on 1st Feb on the occasion of 4th day of the trade fair.

i. This conclave will have an onlooker on industry, regulators and experts sharing their views on the importance of Standards for Global trade, with focus on Odisha.
ii. This conclave was organized by Confederation of Indian Industry (CII) in collaboration with the Department of Commerce, Government of India, MSME  Department of the Odisha, National Accreditation Board of Certification Bodies (NABCB), Bureau of Indian Standards (BIS), Centre for Research in International Trade (CRIT) and Export Inspection Council (EIC).
About Odisha
♦ Capital – Bhubaneswar
♦ Chief Minister – Naveen Pathak

Kerala became the first State  set up a price monitoring and research unit (PMRU)
On February 3,2019,Kerala became the first state to set up price monitoring and research unit (PMRU) to track violation of prices of essential drugs and medical devices.
i. The new watchdog will offer technical help to the State Drug Controllers  to monitor notified prices of medicines, detect violation of the provisions of the Drugs Price Control Order (DPCO).
ii. This move is taken by the National Pharmaceutical Pricing Authority (NPPA) .
About National Pharmaceutical Pricing Authority (NPPA)
♦ Formed – 1997
♦ Headquarters-New Delhi, India
♦ Chairman- Bhupendra Singh

National Foundation for Communal Harmony organized a special workshop under Know My India Programme held in Bengaluru
On 4th February 2019, On the lines of Know My India Programme,the National Foundation for Communal Harmony (NFCH), organized a special workshop for 42 Youth in the age group of 15 to 22 years, who has suffered communal violence.The Youths Participated in the Programme belongs to Jammu & Kashmir, Manipur, Assam, Chhattisgarh, Bihar and Gujarat along with 10 official mentors.
Key points
i. The programme was organized by the Art of Living Foundation.
ii. Youth interacted with Gurudev Sri Sri Ravi Shankar, a spiritual leader.
iii. The participants were taught various body-breath mechanisms and practical tools of wisdom.The main exercise included the powerful rhythmic breathing practice called Sudarshan Kriya, whose regular practice is known to significantly reduce stress hormones, improve the clarity of mind and increase one’s happiness quotient.
About Know My India Programme
i. It is a unique programme initiated by the NFCH to bring together financially assisted children of the foundation from different states and regions of the country to promote oneness, fraternity and national integration.
ii. The NFCH is an autonomous organization under the administrative control of the Ministry of Home Affairs.

325 children rescued under “Operation Smile” in Hyderabad
325 children including 11 girls have been rescued in Hyderabad under “Operation Smile” which was launched on 1st January 2019.

AIM of Operation Smile: The One month long programme aims to rescue child labourers and children engaged in begging.
Other Details
Apart from rescuing children from Hyderabad and other parts of Telangana, around 100 children from Andhra Pradesh, Bihar, Jharkhand, Uttar Pradesh and Nepal have been rescued under the mission.
About Telangana
♦ Capital: Hyderabad
♦ Chief Minister: K. Chandrashekar Rao
♦ Governor: E.S.L. Narasimhan


US pulls out of Intermediate-Range Nuclear Forces treaty with Russia
On 1st February 2019,the United States of America pulls out of Intermediate-Range Nuclear Forces treaty with Russia.This was announced by the US on 20 October 2018 .
Russia also pulls out of treaty on 2nd February 2019.
About Intermediate Range Nuclear Forces Treaty.
i. Intermediate Range Nuclear Forces treaty was between the United States of America and the Union of Soviet Socialist Republics on the elimination of their Intermediate-Range and Shorter-Range Missiles.
ii. This treaty was signed on 8 December 1987 in Washington D.C. by President Ronald Reagan and General Secretary Mikhail Gorbachev.
iii. It prohibits the US and Russia from possessing, producing or test-flying a ground-launched cruise missile with a range of 300 to 3,400 miles. It also covers all land-based missiles including those carrying nuclear warheads.
About Russia
♦ Capital: Moscow
♦ Currency: Ruble
♦ President: Valadimir Putin

Indian Online Companies positioned 11th in the ranking of overseas expansion
On February 4, 2019 ,Stripe,a San Francisco-based online payment processing firm that analyses Companies that do business online released the survey for the 2019.
i. Stripe placed India in the 11th position for its extensive growth and overseas expansion.
ii. In the world doing business online, Singapore and Hong kong made its lead to the top position.


Pallavan Grama Bank and Pandyan Grama Bank merged to form TN Grama Bank
Under the sponsorship of Indian Bank, two regional rural bank – Pallavan Grama Bank and Pandyan Grama Bank will be amalgamated to form a single RRB i.e. Tamil Nadu Grama Bank in Tamil Nadu. The consolidation will be effective from April 1, 2019.

Key Points
i. This amalgamation has been conferred by Ministry of Finance under Regional Rural Banks Act 1976.
ii. Pallavan Grama Bank is sponsored by Indian Bank and Pandyan Grama Bank is sponsored by Indian Overseas Bank.
iii. This newly integrated bank will be sponsored by Indian Bank and will have its head office located at Salem, Tamil Nadu.
About Sponsored banks
Indian Bank
♦ Head office: Chennai, Tamil Nadu
♦ CEO: Padmaja Chundru
Indian Overseas Bank
♦ Head office – Chennai, Tamil Nadu
♦ CEO: R. Subramaniakumar


FDI trimmed by 11% to $22.66 billion during April-September 2018-19
On 4th February 2019, according to commerce and industry ministry data  Foreign direct investment (FDI) into India has declined 11% to $22.66 billion during April-September period of the current fiscal.
Key points
i. Sectors that received maximum foreign investment are  services ($4.91 billion), computer software and hardware ($2.54 billion), telecommunications ($2.17 billion), trading ($2.14 billion), chemicals ($1.6 billion) and automobile industry ($ 1.59 billion).
ii. Singapore was the largest source of FDI during April-September 2018-19 with $8.62 billion inflow  followed by Mauritius ($ 3.88 billion), the Netherlands ($2.31 billion), Japan ($1.88 billion), the US ($970 million) and UK ($845 million).

Fitch Group arm projects fiscal deficit to slip to 3.6% in 2019-20
On 4th February 2019, Fitch Solutions the research arm of Fitch Group projected  fiscal deficit to increase the budgeted target by 0.2 per cent to 3.6% of GDP in 2019-20 fiscal .
Government has reported fiscal deficit 3.4% of GDP in the interim budget on 1st February 2019.
Key points
i. Fitch released a note titled “India’s Populist FY2019-20 Budget To Delay Fiscal Consolidation”.
ii. Earlier Fitch Solutions has predicted 3% fiscal defict for FY 2019-20 and now revised its forecast at 3.6% of GDP in FY 2019-20.

NBHC released  kharif crop estimation for the year 2018-19
On February 4,2019,National Bulk Handling Corporation (NBHC) released Kharif Crop estimation for the year 2018-2019.
i. According to the report, the basmati rice production is expected to decline by 9.24% to 5.18 million metric tonne.
ii. The total oilseeds production was  estimated to be 19.87 million metric tonne which is 5.36 % lower than 2018.
iii. The pulses production was  projected to be dropped to 9.10 million tonnes.
iv.Annual cotton output in India might drop 4.57% due to inadequate rainfall in the top two producing states Maharashtra and Gujarat


Uniphore Software Systems conferred with Aegis Graham Bell Award 2019
On February 4, 2019, 9th edition of Aegis Graham Bell Award was held in Panaji Goa.

i. Uniphore Software Systems received the Aegis Graham Bell Award under Innovation in Data Science for its flagship product auMina.


P V Bharathi designated as the CEO of Corporation Bank
On February 3,2019,Former executive director of Canara Bank ,P V Bharathi assumed charge as Chief Executive Officer (CEO) of the city-based Corporation Bank.
i. She will succeed Jai Kumar Garg, to became the first woman CEO of the bank.
ii. Despite the post of executive director of Canara Bank ,she also hold the post of non-executive director of Can Fin Homes Limited and   also director board member of Canbank Venture Capital Limited.
About corporation Bank
♦ Headquarters – Mangalore
♦ Tagline – A Premier Public Sector Bank, Prosperity for all

Former mayor Nayib Bukele to become the new President of El Salvador 
On  February 4,2019 , Former mayor Nayib Bukele won El Salvador’s presidential election.

i. He will  succeed Salvador Sánchez Cerén ,after whom the leadership chair was vacant for a period of time
ii. He is to assume the chair of president on June 1 ,2019.
About El Salvador
♦ Capital – San Salvador
♦ Currency -United States Dollar


Asian Development Bank acquires 14% stake in Annapurna Finance
On February 3,2019,The Asian Development Bank (ADB) bought 14% stake in micro-financier Annapurna Finance.

i. ADB Bank bought this stake with a motive of  attracting long -term funds from global lenders and investors.
ii. ADB’s investment increased Annapurna Finance’s net worth by 580 crores.
iii. ADB’s investment is considered to be the second equity investment following Oman India Joint Investment Fund (OIJIF) Rs 155-crore investment.
iv.The Asian Development Bank (ADB) has bought a 14% stake in micro-financier Annapurna Finance for Rs 137 crore.
About Asian Development Bank
♦ Headquarters: Mandaluyong, Philippines
♦ President: Takehiko Nakao
♦ Members: 67 countries

IndoStar inked binding agreement with IIFL Finance to acquire its CV finance business
On February 4,2019,IndoStar Capital Finance Ltd (IndoStar) , a non-banking finance company, to acquired CV finance business , a subsidiary of IIFL Holdings .
The IndoStar acquired CV Finance at a cost of 3949 crores.
IndoStar Capital
♦ CEO – R. Sridhar


Bedin 1- Dwarf galaxy discovered by Hubble Space Telescope 
On January 31,2019,astronomers from Italy, the UK, Germany and the United States discovered newly discovered galaxy consists  of red giant particles
i. This ancient galaxy is one of the oldest galaxy and was named after Luigi Bedin, a researcher at Italy’s National Institute for Astrophysics
ii. Bedin 1 is located  28.38 million light years from Earth.
iii.The object is classified as a dwarf spheroidal galaxy. These are defined by their small size, low-luminosity, lack of dust and old stellar populations. Thirty-six galaxies of this type are already known to exist in the Local Group, 22 of which are satellite galaxies of the Milky Way.


Indian squash player Ramit Tandon win Seattle Open title
On 3rd February 2019, Indian squash player Ramit Tandon win the fourth title of Seattle open by defeating Mohamed El Sherbini of Egypt. Seattle Open is a PSA challenger squash Tour held in USA .
Key points
i. Ramit Tandon who belongs to Kolkata won by 11-4, 11-7, 2-11, 11-2 for his first PSA title.Ramit Tandom rose to his career best ranking of 58 in the latest list released in February 2019 by World Squash Federation.
ii. Jacques Fountaine is president of World squash federation which is headquartered at East Sussex, England.
iii.Henery Weber is president of Seattle open.
About USA
♦ Capital: Washington DC
♦ Currency: US Dollar
♦ President: Donald Trump


World Cancer Day observed on February 4 
World Cancer Day is observed annually on Feb 4 to raise awareness about cancer and encourage its prevention,and treatment.

World Cancer Day launched a new three year  campaign with the theme “I Am and I Will.”

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