Current Affairs May 31 2019

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INDIAN AFFAIRS

SWIFT India and South Asia Conference was held in Mumbai
The SWIFT India and South Asia Conference was held successfully on 9 May 2019 at the St Regis Mumbai.  The conference saw the participation of 500 delegates representing financial institutions, regulators, market infrastructure experts, multinational corporations, and other industry professionals, to discuss the most pertinent issues concerning the nation’s financial market.

i. It was organized and hosted by SWIFT (Society for Worldwide Interbank Financial Telecommunication).
ii. The theme of the conference was “Digitisation in transition: The future of innovation and cyber security”.
iii. The objective of the conference was to discuss these key issues with a specific focus on innovation and our preparedness to face challenges around cybersecurity.
iv. At the conference, BCG (Boston Consulting Group) also released a paper titled “Unlocking Success in Corporate Banking Through Digital”.
About SWIFT India:
♦ It is the local unit of SWIFT global that facilitates international payments functions for banks.
♦ Chairman – Mrs Arundhati Bhattacharya

10^th National Science Film Festival of India to be held in Agartala, Tripura in 2020
10^th National Science Film Festival of India (NSFFI) will be held in Agartala, Tripura in January-February 2020. This is for the second time the event will be held in a North-Eastern city. It will be jointly hosted by Vigyan Prasar of the Central Government, State Government, and Tripura Central University.
Key Points:
i. The Chief Minister of the State Biplab Kumar Deb had requested the Union Science and Technology Minister to hold the NSFF in Tripura.
ii. Minimum 10 countries will participate in the upcoming event and it will include the films produced by UNICEF, UNESCO, and filmmakers from different countries.
iii. In NSFFI, the maximum length of the films will be 40 minutes and Vigyan Prasar will raise awareness on science and environment to the society through cinemas.
iv. NSFFI was first held in Chennai in 2011. Since then, all the regions of the nation have been covered including Bhubaneshwar, Kolkata, Bangalore, Lucknow, Mumbai, Guwahati and Mohali.
v. Besides the NSFFI, The Tripura Government has plans to host ‘Destination Tripura’, a special competitive film production initiative. It will focus on upholding tourism and rich biodiversity of Tripura like the flora and fauna, wildlife sanctuaries, water bodies, rubber and bamboo plantations etc.

Environment Ministry has launched the song “Hawa Aane De” to spread awareness about Air pollution
Ahead of the World Environment Day (WED) on 5th of June, Union Environment Ministry has launched the song “Hawa Aane De” to spread awareness about Air pollution. It was launched by Secretary of Ministry of Environment, Forest and Climate Change (MoEFCC), C K Mishra in the presence of actor Shekhar Suman and singer Shaan.
i. Every year, on the occasion of WED, a celebration is held at Vigyan Bhawan. This year, the events will consist of the launch of film competition on the environment, the release of several books and three thematic sessions on Air Pollution, Waste Management and Forests: the Green Lungs of cities.
ii. The centre has already launched the National Clean Air Programme (NCAP) to control and reduce air pollution across the country.
About “Hawa Aane De” Song:

• It has been produced by MoEFCC, in collaboration with Bhamla Foundation, Mumbai, as the theme song for WED 2019.
• It is written by Swanand Kirkire.
• It is sung by Shantanu Mukherjee, Kapil Sharma, Sunidhi Chauhan and Shankar Mahadevan.
• The film has been directed by Romanchak Arora.

About MoEFCC:
♦ Founded: 1985 as Ministry of Environment and Forests
♦ Name Change: 2014

BANKING & FINANCE

Honda Motorcycle partnered with IDFC First Bank for retail financing
On May 28, 2019, Honda Motorcycle & Scooter India (HMSI) partnered with IDFC FIRST Bank to provide financing solutions for vehicles across the country.

Key Points:
i. The Memorandum of Understanding (MOU) was signed for the loan facility up to 100% of vehicle cost, zero processing fee, down payment of Rs.999 and extended loan tenure of 48 months offered to two-wheeler customers. This will lead to extra savings of Rs 5,000 on an average loan.
ii. The partnership will help IDFC FIRST Bank to offer speedy and convenient financing solutions to the customers.
About IDFC FIRST Bank:
♦ IDFC stands for Infrastructure Development Finance Company.
♦ It was founded by the merger of Capital First and IDFC Bank in December 2018.
♦ Headquarters: Mumbai
♦ Managing Director & CEO: V. Vaidyanathan
About HMSI:
♦ Parent Organization: Honda Motor Company
♦ Headquarters: Gurugaon, Haryana
♦ CEO: Minoru Kato

RBI permitted Banks to use Aadhaar only for DBT accounts for KYC requirements
The Reserve Bank of India(RBI) has permitted banks to accept Aadhaar number (Offline verification) for Know Your Customer(KYC) verification with the consent of the customers. RBI has added the ‘Proof of possession of Aadhaar number’ to the list of Officially Valid Documents (OVD).
Key Points:
i. This was notified by the RBI in its amended Master Direction on KYC. RBI’s Master Direction is a rule book that the regulated entities need to follow.
ii. The bank should obtain the Aadhaar number from the customers who receive any benefit or subsidy under Direct Benefit Transfer (DBT).
iii. For Non-DBT beneficiary customers, the Regulated Entities (REs) should obtain a certified copy of any OVD describing the details of the customer’s identity and address along with 1 recent photograph. Along with this, while submitting Aadhaar for Customer Due Diligence, the REs must redact or blackout the Aadhaar number as per Sub-rule 16 of Rule 9 of the amended Prevention of Money-Laundering (PML) Rules.
iv. All the non-individual customers should submit Permanent Account Number (PAN)/Form No 60 (for companies and Partnership firms – only PAN) along with other documents. Form 60 is submitted by an individual who does not have a Permanent Account Number (PAN).
v. If the existing customers fail to submit PAN or Form No. 60 within the time limit, then they will be subject to temporary ceasing till PAN or Form No 60 is submitted.
About Reserve Bank Of India:
♦ Headquarters: Mumbai
♦ Governor: Shaktikanta Das
♦ Deputy Governors: BP Kanungo, N S Vishwanathan, Viral Acharya and Mahesh Kumar Jain

BUSINESS & ECONOMY

FICCI survey predicted GDP growth of India at 7.1% for FY20
FICCI’s (Federation of Indian Chambers of Commerce and Industry) economic outlook survey has projected India’s median GDP (Gross Domestic Product) 7.1% for FY20 and 7.2% for FY21. The survey was conducted among economists belonging to the industry, banking, and financial services sectors.
Key Highligts of Survey for 2019-20:
i. Minimum and maximum growth estimate stood at 6.8 percent and 7.3 percent.
ii. Wholesale Price Index (WPI) based inflation rate is projected at 3.1% in 2019-20 with a minimum and maximum range of 2.1 percent and 4 percent, respectively.
iii. Consumer Price Index (CPI) based inflation forecasted at 4% for 2019-20 with a minimum and maximum range of 3.5 percent and 4.1 percent, respectively.
iv. The median growth forecast for agriculture and allied activities was pegged at 3%.
v. Industry sector will grow by 6.9% while services sectors will rise 8% during the year.
Related Points FICCI:
♦ Founded: 1927
♦ Headquarters: New Delhi, India
♦ Founders: Ghanshyam Das Birla, Purshottamdas Thakurdas
♦ President: Sandip Somany

AWARDS & RECOGNITIONS

Tribal Odisha’s woman Chandrani Murmu(25) of BJD, became the youngest MP in the country and made her debut in Parliament
A tribal woman from Odisha, Chandrani Murmu aged 25  of Biju Janata Dal (BJD) party became the youngest MP in the country. She defeated the two-time BJP MP Ananta Nayak by a margin of 66,203 votes and claimed the Keonjhar constituency, Odisha.

i. She replaced Dushyant Chautala who was elected at the age of 26 from the Hisar Lok Sabha seat in 2014.

For the first time in 92 years, 6 Indian-origin kids among 8 won the National Spelling Bee Contest
On May 30, 2019, For the first time in 92 years, 6 Indian-origin kids were among the 8 who won the 92^nd Scripps National Spelling Bee Contest. They were awarded the cash of $50,000 and prizes. The competition, broadcasted in ESPN, was held at Gaylord National Resort in National Harbor, Maryland, US.

Key Points:
i. Erin Howard aged 14 of Alabama, Rishik Gandhasri aged 13 of California, Saketh Sundar aged 13 of Maryland, Shruthika Padhy aged 13 of New Jersey, Sohum Sukhatankar aged 13 of Texas, Abhijay Kodali aged 12 of Texas, Christopher Serrao aged 13 of New Jersey and Rohan Raja aged 13 of Texas were the winners of the competition.
ii. There were 565 contestants aged between 7 and 14 who have not passed 8^th grade from US, Canada, Ghana, Jamaica, Japan, Bahamas, Germany, South Korea and other countries.
iii. The winners correctly spelt the final 47 words accurately over 5 consecutive rounds with words like omphalopsychite, Geeldikkop, auftaktigkeit and many more.
iv. The winner of the year 2018 was Karthik Nemmani, a 14-year-old eighth-grader from Texas.
v. Balu Natarajan became the first Indian-origin child to win in the year 1985.
vi. National Spelling Bee Contest is a high profile, a high-pressure endurance test of exotic words. It also requires learning about the origin of words and the languages they are derived from.

APPOINTMENTS & RESIGNS

Narendra Modi Took Oath As Prime Minister Of India For The Second Term

• National Democratic Alliance (NDA) leader Narendra Damodardas Modi had taken oath as Prime Minister for the second consecutive term. Along with Narendra Modi, total 57 ministers had taken the oath of Office and Secrecy which is administered by President Ram Nath Kovind.
• Out of total 57 council of ministers, 24 cabinet ministers had taken oath including Amit Shah, Rajnath Singh, Nirmala Sitharaman, Smriti Irani and Piyush Goyal, 9 as Minister of State with Independent Charge and another 24 as Minister of State.
• The oath taking ceremony was attended by leaders from Bay of Bengal Initiative for Multi Sectoral Technical and Economic Cooperation (BIMSTEC) countries and foreign envoys, Governors, Chief Ministers, Opposition leaders, corporate heads and film stars…………………………..Click here to Read more

Complete List Of Council Of Ministers 2019 With Their Constituency
Total 57 council of ministers, 24 cabinet ministers had taken oath including Amit Shah, Rajnath Singh, Nirmala Sitharaman, Smriti Irani and Piyush Goyal, 9 as Minister of State with Independent Charge and another 24 as Minister of State………………………….Click here to Read more

Admiral Karambir Singh assumed charge as the new Chief of the Naval Staff
On May 31, 2019, Admiral Karambir Singh assumed charge as the new 24^th Chief of Naval Staff (CNS). He succeeded Chief Admiral Sunil Lanba, who retired from the service after completion of 3 years. Singh was the Flag Officer Commanding-in-Chief (FOC-in-C) of the Eastern Naval Command(ENC) headquartered at Visakhapatnam, Andhra Pradesh.

Key Points:
i. He is the first helicopter pilot of the Navy to become the CNS.
ii. He has a vast experience of nearly 39 years having served in various commands, staff and instructional appointments.
iii. Born on November 3, 1959, he was commissioned to the Indian Navy in July 1980. He is an alumnus of Defence Services Staff College, Wellington and College of Naval Warfare, Mumbai.
iv. He became a helicopter pilot in 1982 and has flown helicopters Chetak and Kamov. He has commanded 4 ships namely Indian Coast Guard(ICG) ship Chandbibi, missile corvette INS Vijaydurg, guided missile destroyers INS Rana and INS Delhi.
v. He has served as the Fleet Operations Officer of the Western Fleet, Chief of Staff of the Tri-Services Unified Command at Andaman and Nicobar Islands and Flag Officer Commanding Maharashtra and Gujarat Naval Area (FOMAG).
vi. He is a recipient of Param Vishisht Seva Medal (PVSM) and Ati Vishisht Seva Medal (AVSM).
vii. The Armed Forces Tribunal (AFT) cleared the way for the appointment of Vice Admiral Karambir Singh to the CNS against the petition filed by Vice Admiral Bimal Verma as he was the senior-most officer in the navy after the incumbent chief Admiral Sunil Lanba’s retirement. The selection followed a merit-based approach and not the tradition of appointing the senior most eligible officer.
viii. The CNS retires after a 3 year tenure or on the completion of 62 years, whichever is earlier.
About Indian Navy:
♦ Navy Day: 4^th December
♦ Motto: Sham No Varunah (May the Lord of the water be auspicious unto us)

Supreme Court extended the term of Justice VK Jain as Judicial Member Of NCDRC
On May 29, 2019, Supreme Court extended the term of Justice VK Jain as Judicial Member of the National Consumer Disputes Redressal Commission (NCDRC). His term was supposed to expire on May 29, 2019.
Key Points:
i. The decision on the extension of term was given by Chief Justice Ranjan Gogoi and Justice Aniruddha Bose.
ii. Justice Jain’s tenure is extended for 1 year or till the process of fresh appointment is completed, whichever is earlier.
iii. He had joined the Delhi Judicial Service on May 20, 1977. He was appointed as a judge of the Delhi High Court on May 14, 2009.
iv. He was appointed as a judicial member of the NCDRC on May 30, 2014.
About Supreme Court:
♦ Founded: 1950
♦ Motto: Yato Dharmastato Jayaḥ [Where there is righteousness (dharma), there is victory (jayah)]
♦ Chief Justice of India: Ranjan Gogoi

ACQUISITIONS & MERGERS

Infosys acquired Dutch bank arm with a majority stake
Infosys, technology giant has acquired 75% stake in Stater N.V, a subsidiary of the Netherlands-based ABN AMRO Bank.
Key Points:
i. It was acquired for $144 million (Rs 999 crore) in cash by Infosys consulting arm Infosys Consulting Pte Ltd.
ii. ABN AMRO will hold the remaining 25% of the shareholding in Stater.
iii. ABN AMRO is the third largest Dutch bank headquartered at Amsterdam, Netherlands.
iv. Stater deals with the mortgage and consumer lending value chain in digital origination, servicing, and collection.

SCIENCE & TECHNOLOGY

MOU signed between IIT Guwahati and ISRO to set up space technology
On May 24, 2019, a Memorandum of Understanding (MOU) was signed between Indian Institute of Technology (IIT) Guwahati and Indian Space Research Organization (ISRO) to set up IITG-ISRO Space Technology Cell (STC) within the premises of IIT Guwahati. This is the first institute in the North-East Region to increase the research and capacity building processes in the field of space and technology.
Key Points:
i. As a part of the event, The Governor of Assam, Jagdish Mukhi inaugurated a new academic complex and research and development building at IIT Guwahati Campus.
ii. The STC will include the faculty members from IIT Guwahati, visiting scientists or experts from ISRO, research students and technical staff. It will undertake collaborative research for short term and long term solutions to challenging space-research problems.
iii. It serves as a platform for involving and motivating undergraduate, postgraduate (PG) students and research scholars and orienting them towards the field of space-research activities.
About ISRO:
♦ Headquarters: Bengaluru
♦ Founder: Vikram Sarabhai
♦ Director: K Sivan

ENVIRONMENT

Astronomers discovered the Forbidden Planet, NGTS- 4b in the ‘Neptunian Desert’
The international collaboration of astronomers with the University of Warwick, UK, have discovered an exoplanet, Next-Generation Transit Survey (NGTS) – 4b, the Forbidden Planet, in the Neptunian Desert. It is smaller than Neptune but 3 times the size of the Earth.
Key Points:
i. The Research was led by Dr. Richard West including Professor Peter Wheatley, Dr. Daniel Bayliss and Dr. James McCormac from the Astronomy and Astrophysics Group at the University of Warwick.
ii. This information was published in the Journal Monthly Notices of the Royal Astronomical Society (MNRAS).
iii. The Forbidden Planet with a mass of 20 Earth masses, radius 20% smaller than Neptune and temperature of 1000 degree Celsius, orbits around the star in only 1.3 days and its atmosphere has gases.
iv. NGTS, situated at the European Southern Observatory’s Paranal Observatory in the Atacama Desert, Chile, is a collaboration between UK Universities Warwick, Leicester, Cambridge, and Queen’s University Belfast, together with Observatoire de Genève, DLR Berlin and Universidad de Chile.

New species of wasp Kudakrumia Rangnekari identified in Goa
A new species of wasp from the genus Kudakrumia has been identified by scientists in Goa. It has been named as Kudakrumia Rangnekari after Goa-based researcher Parag Rangnekar.
Key Points:
i. Wasp is a member of a group of insects in the order Hymenoptera, suborder Apocrita. It is neither an ant nor a bee. They are found in Goa and Kerala in India and Sri Lanka, outside India.
ii. The holotype was collected from the forests of Northen Western Ghats from Kotigao Wildlife sanctuary. The paratype(specimen) was collected from Ranipuram hill of Kerala, Southern Western Ghats.
iii. Parag Rangnekar is the founder-president of the Goa Bird Conservation Network. He has taken up the work of the documentation of the dragonflies in the State.
iv. Parag Rangnekar has written a book named “Butterflies of Goa” which is first field guide with photographs of the species found in the region.

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SPORTS

2019 ISSF World Cup 3-Overview
International Shooting Sport Federation (ISSF) World Cup 3 was held in Munich, Germany from 24^th to 31^st May 2019. India won 5 gold medal and a silver medal totaling 6 medals and topped the medal tally. China won two gold, two silver, and five bronze medals and placed second in the medal tally. Next tournament ISSF World Cup 4 is set to be held in Rio de Janeiro, Brazil.

Highlights:
i. Saurabh Chaudhary won a gold medal in 10 metre air pistol and broke down his own world record of 245 by shooting 246.3 points in the final.
ii. Asian Games champion Rahi Sarnobat and Manu Bhaker clinch sixth and seventh Olympic quota place in shooting for 2020 Tokyo Olympics.

About International Shooting Sport Federation:
♦ Headquarters – Munich, Germany
♦ President – Vladimir Lisin

OBITUARY

American actor, Carmine Caridi passed away aged 85 in Los Angeles, California, U.S.
American Television as well as film actor, Carmine Caridi passed away at the age of 85 in Los Angeles, California, U.S. He was born in New York City, New York, U.S.

i. He was well known by the films, The Godfather Part II (1974) and The Godfather Part III (1990).
ii. He was the first person to be expelled from the Academy of Motion Picture Arts and Sciences in the year 2004.
iii. He will appear posthumously in an episode of HBO’s Curb Your Enthusiasm.

IMPORTANT DAYS

World No-Tobacco Day celebrated on May 31
World No-Tobacco Day (WNTD) was observed on May 31. It is celebrated to raise awareness to the public to stop smoking. The theme of the year is “Tobacco and Lung health”.

Key Points:
i. The member states of the World Health Organization(WHO) declared this day for the first time in 1987.
ii. In 1987, the World Health Assembly passed a Resolution WHA40.38 to celebrate April 7, 1988 as ‘World No-Smoking Day’. In 1988, Resolution WHA42.19 was passed to celebrate ‘World No Tobacco Day’ every year on 31 May.
iii. Since 1988, WHO has presented awards to organizations or individuals who have made exceptional contributions in reducing tobacco consumption.
iv. In India, Ministry of Health and Family Welfare (MoHFW), in partnership with WHO India, organized a ‘National Consultation on Tobacco and Lung Health’ in New Delhi. Ms. Preeti Sudan, Secretary (MoHFW), Dr. V. K. Paul, Member (Health), NITI Aayog, Shri Sanjeeva Kumar, Additional Secretary, MoHFW, Shri Vikas Sheel, Joint Secretary, MoHFW and Dr. Henk Bekedam, WHO Representative to India were present. The theme of the event was “Don’t Let Tobacco Take Your Breath Away – Choose Health Not Tobacco”.
v. At the event, Guidelines for Tobacco Free Educational Institutions, a National Tobacco Control Programme (NTCP) Website, a public awareness campaign material on TB-tobacco control and Operational Guidelines for National Tobacco Testing Laboratories (NTTL) were released by the Health Ministry.
vi. The Health Ministry felicitated Department of Medical, Health and Family Welfare, Government of Rajasthan and Prof. Raj Kumar, Director, V. P. Chest Institute, University of Delhi for their contributions in tobacco control.
About WHO:
♦ Established:  April 7, 1948
♦ Headquarters: Geneva, Switzerland
♦ Director General: Dr. Tedros Adhanom Ghebreyesus

STATE NEWS

Yoga Instructor, Namrata Menon appointed as brand ambassador to promote yoga in Goa
On May 30, 2019, The State Health Department of Goa announced the appointment of Panaji-based, Namrata Menon, Yoga Instructor and fitness expert, as brand ambassador to promote yoga in Goa.
Key Points:
i. She has been appointed to promote the ancient system of physical and mental practices to raise awareness about the benefits of yoga so that people follow it on daily basis.
ii. She has been practicing yoga since 17 years.

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