Current Affairs September 24 2019

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INDIAN AFFAIRS

Overview of Mongolian President Battulga’s Visit to India
President of the Republic of Mongolia His Excellency Mr. KhaltmaagiinBattulga paid a visit to India from 19-23 September 2019.
i. The two nations signed 4 Memoranda of Understandings(MoU).
ii. Shri Modi and Battulga, jointly unveiled a statue of Lord Buddha and his two disciples, installed at the historic GandanTegchenling Monastery in Ulaanbaatar through video conference via remote
iii. On the request from Mongolia, India announced an additional 236 million dollars Line of Credit(LoC) for the ongoing Petrochemical Refinery Project of Mongolia……………………………….Click here to Read more

Union minister Nitin Gadkari and Shri RK Singh inaugurated National Conclave on Energy Efficiency in MSME sector in New Delhi
On September 23, 2019 The Union Minister for Micro Small and Medium Enterprises (MSME) and Road Transport & Highways Shri Nitin Gadkari and Shri RK Singh, Union Minister of State for Power and New & Renewable Energy (IC) and Skill Development & Entrepreneurship jointly inaugurated the 2-day organised National Conclave on Energy Efficiency in MSME sector in New Delhi. T
i. The ministers launched Knowledge Management Portal “SIDHIEE” under BEE’s MSME Programme along with Energy Conservation Guidelines for MSMEs. The portal contains information for MSMEs inclusive of 50 video tutorials for energy efficient technologies
ii. A Memorandum of Understanding(MoU) was signed between Shri SurendraNathTripathi, Development Commissioner of MSME and Shri AbhayBakre, Director General,Bureau of Energy Efficiency on enhancement of energy security in MSMEs.…………………..Click here to Read more

Union Minister Harsh Vardhan launched ‘UMMID’ initiative for new born babies and inaugurated NIDAN kendras in New Delhi
On September 23, 2019 the union minister of Science & Technology, Earth Sciences,Health and Family Welfare Dr. Harsh Vardhan launched ‘UMMID’(Unique Methods of Management and treatment of Inherited Disorders) initiative designed on the concept of “prevention is better than cure” to make efforts to tackle genetic diseases inherited by new born babies in New Delhi.
i. He also inaugurated ‘NIDAN’ (National Inherited Diseases Administration) Kendras, under the aegis of Department of Biotechnology (DBT), Ministry of Science and Technology.
ii. UMMID initiative will work under the National Health Policy, 2017 that aims to shift focus from “sick-care” to “wellness”. This initiative will be taken to other countries in its next phases………………..Click here to Read more

Malnutrition among children reduced by two-thirds in 27 years, but 68.2 % of children under five years are still malnourished in the country: Lancet Child & Adolescent Health
According to the report, “The burden of child and maternal malnutrition and trends in its indicators in the states of India: the Global Burden of Disease Study 1990–2017” published in a monthly journal of the Lancet Child & Adolescent Health by India State-Level Disease Burden Initiative Malnutrition Collaborators , two-thirds of the children below 5 years deaths in 2017 (706,000 out of 1.04 million) in India are still attributable to malnutrition.
i. However, the deaths caused by malnutrition have shown a much smaller decrease to 68.2% in 2017 from 70.4% in 1991.
ii. The report found a difference in malnutrition-related disability-adjusted life year (DALY) rate of up to seven times in different states. The top states witnessed death rates due to malnutrition are Rajasthan, Uttar Pradesh, Bihar and Assam, followed by Madhya Pradesh, Chhattisgarh, Odisha, Nagaland and Tripura…………………Click here to Read more

Govt hikes family pension for Central govt. employee dying within 7 years of service from 30 to 50 %
The government has hiked the family pension for the govt. employee who dies within 7 years of service. He/she will now avail the pension at 50% of the last pay drawn from previous 30% for a period of 10 years. This hike will come into effect from October 1, 2019 after the govt. amended Rule 54 of the Central Civil Services (Pension) Rules, 1972 recently.
Key points
i. The families of government servants who died before completion of service of seven years within 10 years before October 1, 2019, will also be eligible for family pension at enhanced rates.
ii. The benefit is available to all govt. servants including personnel of Central Armed Police Forces (CAPF).

UIDAI announces applying  for Aadhaar on arrival by NRIs without 182-day wait 
On September 23, 2019 the Unique Identification Authority of India (UIDAI) announced that Non-resident Indians (NRIs) with valid Indian passport could apply for the Aadhaar on arrival, without the need to wait for 182-day period by scheduling a prior appointment. A valid Indian passport will be accepted as proof of identity, proof of address (PoA) and date of birth document.

Indo-US first tri-services exercise “Tiger Triumph” for 2019 to be held at Visakhapatnam and Kakinada in November
In November 2019, India and the United States(US) are set to host the first ever tri-services exercise codenamed “ExerciseTiger Triumph” at Visakhapatnam and Kakinada, both of state Andhra Pradesh. The plan for this exercise was discussed during the Final Planning Conference (FPC) for India-US Tri-Services Humanitarian Aid and Disaster Relief (HADR) which was held from September 16-20 at heaquarters of Eastern Naval Command, Visakhapatnam, Andhra Pradesh.Key points
i. India held similar such tri-service exercise previously with Russia named “Indra” in 2017 in Vladivostok, Russia. The announcement for the ‘Tiger Triumph’ was made by US president Donald Trump during the ‘Howdy Modi!’ event in America.
ii. So far the two countries have conducted defence hardware trade around USD 18 billion over the last 10 years.

BANKING & FINANCE

RBI bans PMC Bank, account holders will not be able to withdraw more than 1000 in a day
On September 23, 2019, The country’s central bank, Reserve Bank of India (RBI) has prohibited Punjab and Maharashtra Co-operative Bank Limited (PMC) on business transactions of any kind for the next 6 months following the detection of alleged irregularities. The RBI has taken this action under section 35A of the Banking Regulation Act, 1949.Key points:
i. Under this decree, no depositor can withdraw more than 1,000 thousand money from his savings account, current account or any other deposit account. Apart from this, the issuance of new loans of the bank has also been banned.
ii. As on March 2019, PMC Bank had business of Rs 20,000 crore consisting of Rs 11,617 crore deposits and Rs 8,383 crore advances.The bank will do business with restrictions till further notice or directions by RBI.
iii. The bank has 137 branches in 6 states including those in New Delhi. It had 3.76% gross non-performing assets (NPAs) and net 2.19 % NPAs as at the end of March 2019.
About PMC Bank:
♦ Formation:1983
♦ Headquarters: Mumbai, Maharashtra
♦ Chairman :S.Waryam Singh

SBI Life Insurance  & Repco Home Finance signs corporate agency agreement
On September 24, 2019, Repco Home Finance Ltd (RHFL ),an Indian banking and financial services company has signed corporate agency agreement with  SBI (State Bank of India) Life Insurance, a leading life insurance company in India to provide SBI Life’s range of products to its customers.
Key points:
i. SBI Life Insurance will now be available in RHFL’s over 148 branches and 27 satellite centres of RHFL spread across the country.
ii. Through this partnership, SBI Life Insurance will reach more new customers across geographies to meet their diverse insurance needs.
iii. The corporate agency agreement was signed by RHFL CFO T Karunakaran, General Manager K Prabhu and SBI Life, Regional Director, E Thirumudi Pandian in the presence of Repco Home Finance Ltd MD and CEO, Yashpal Gupta and others.
About SBI Life Insurance:
♦ Founded : March 2001
♦ Headquarters:  Mumbai
♦ MD & CEO: Mr. Sanjeev Nautiyal
About RHFL :
♦ Founded: 2000
♦ Headquarters: Chennai, Tamil Nadu

Federal Bank and Pine Labs join hands to provide monthly EMIs for offline debit card transactions
On September 23, 2019, Pine Labs, an Indian merchant platform company has joined hands with Federal Bank,a Private Sector, scheduled commercial bank in India to offer EMIs (equated monthly instalments) for offline debit card transactions.Key points:
i. Federal Bank’s 57 lakh debit card customers will now be able to instantly avail loans on EMI  at the Pine Labs terminals.
ii. The tie-up focused on technology and analytics to deliver customer-centric digital services.
iii. Pine Labs currently offers credit and debit card EMI services in over 1.20 lakh stores across 85,000 merchants in India. It has created a network of 90 brands and 19 banking and financial institutions.
About EMI:
A fixed payment amount made by a borrower to a lender at a specified date each calendar month. Equated monthly installments are used to pay off both interest and principal each month.
About Federal Bank:
♦ Founded : 2 December 1949 (as Federal Bank)
♦ Founder : K.P Hormis
♦ Headquarters: Kochi, Kerala
♦ MD & CEO : Shyam Srinivasan
♦ Tagline: Your Perfect Banking Partner
About Pine Labs:
♦ Founded :1998
♦ Headquarters : Noida,Uttar Pradesh
♦ Executive Chairman : Lokvir Kapoor
♦ Chief Executive Officer:  Vicky Bindra

AWARDS & RECOGNITIONS

Overview of FIFA Football Awards 2019 held in Teatroalla Scala in Milan, Italy
On September 23, 2019, the Fédération Internationale de Football Association (FIFA) which is called as International Federation of Association Football in english conducted the FIFA Football Awards 2019 held in Teatroalla Scala in Milan, Italy. The awards are briefed below.
i. Argentinian football player Lionel Andrés Messi Cuccittini, commonly known as Lionel Messi won 2019 Best FIFA Men’s Player of the Year award……………………Click here to Read more
 ii. Awards:

Infosys tops Indian companies in Forbes’ World’s best ‘regarded’ companies list 2019, Visa tops
On September 24, 2019, nearly 17 Indian companies were listed in the Forbes World’s best ‘regarded’ companies list 2019. The company which topped among other Indian firms is Infosys which ranked third in the overall list. The first and second place were held by global payments technology company Visa and Italian car-maker Ferrari respectively. Key points
i. Infosys which tops among the Indian companies, was ranked at 31st position in 2018.
ii. Indian firms in the top 50 list: Tata Consultancy Services(TCS) ranking 22nd and Tata Motors ranking (31) featured among the top 50 in the coveted list.
iii. Other Indian companies: Other Indian companies which were ranked in the list were  Tata Steel at 105th rank, Larsen & Toubro- 115th rank, Mahindra & Mahindra- 117th rank , HDFC-135th, Bajaj Finserv- 143th, Piramal Enterprises-149th, Steel Authority of India Ltd (SAIL)- 153th,Hindustan Computers Limited( HCL) Technologies-155th, Hindalco Industries-157th, Wipro-168th, HDFC Bank- 204th, Sun Pharma Industries- 217th, General Insurance Corporation Of India(GIC)-224th, Imperial Tobacco Company of India Limited (ITC)-231st and Asian Paints at 248th rank.
iv. The data was gathered by Statista that surveyed 15,000 respondents from more than 50 countries.
The top firms in the list are as follows:

About Forbes:
♦ Editor-in-chief- Steve Forbes.
♦ Headquarters-  Jersey City, New Jersey,America.

APPOINTMENTS & RESIGNS

Nilesh Shah got appointed as Chairman of AMFI
On September 23, 2019, The Managing Director (MD) of Kotak Mahindra Asset Management Co Ltd., Nilesh Shah has been appointed as Chairman of the Association of Mutual Funds in India (AMFI) at its board meeting held in Mumbai, Maharashtra.Key points:
i. He will replace Nimesh Shah, Managing Director and Chief Executive Officer, ICICI (Industrial Credit and Investment Corporation of India )Prudential AMC, who was appointed to the position in the year 2018.
ii. The AMFI board has also elected  Saurabh Nanavati, Chief Executive Officer, Invesco Mutual Fund as its new vice-chairman.
iii. Nilesh has over 25 years of experience in capital markets and market related investments.
iv. At present, there are 15 members in AMFI board of these 7 are from the top ten fund houses and 4 each from mid and small sized AMCs(asset management company).
About AMFI:
Founded: 1995
Headquarters: Mumbai, Maharashtra

Godavarthi Venkata Srinivas will be the next Ambassador of India to the Republic of Guinea Bissau
On September 23, 2019, According to the Ministry of External Affairs, Government of India (GoI), Shri Godavarthi Venkata Srinivas, a 1993 batch IFS ( Indian Foreign Service) officer has been appointed as the next Ambassador of India to the Republic of Guinea Bissau, with residence in Dakar. He will succeed Partha Satpathy.
Key points:
i. Srinivas currently served as India’s Ambassador to the Republic of Senegal.
ii. India and Guinea Bissau have maintained better friendly relations for decades & in May 2010, an Honorary Consulate of India in Bissau was inaugurated.
About Republic of Guinea Bissau:
♦ Capital: Bissau
♦ Currency: West African CFA franc
♦ President: José Mário Vaz
♦ Prime Minister :Aristides Gomes

Coach Kim Ji Hyun of South Korea, who guided world championship gold medalist PV Sindhu, resigns
India’s women’s singles badminton coach, Kim Ji Hyun (45) of South Korea, who guided World Championship gold medalist PV Sindhu, has resigned from the post for personal reasons. She had to move to New Zealand with her husband Richie Mer, who had suffered a ‘neuro stroke’ a few days earlier.Key points:
i. Kim was signed by the Badminton Association of India (BAI) earlier in 2019. It was under his guidance that Sindhu won the gold medal at the World Championship 2019 in Basel, Switzerland.
ii. Kim was India’s third foreign coach who resigned before completing her term.
About BAI:
♦ Founded :1934
♦ Headquarters: New Delhi
♦ President: Himanta Biswa Sarma

SPORTS

Snooker player Laxman Rawat wins IBSF World 6Reds championships 2019 title in Mandalay, Myanmar
On September 21, 2019, The Mumbai-based snooker player Laxman Rawat won the men’s title after defeating Muhammad Asif of Pakistan at the Myanmar Open Billiards, The 150 Up World Billiards Championship and World 6Reds, World Team Snooker championships 2019 held from 9th September -25th September 2019 at Mandalay, Myanmar.Key points:
i. Rawat got the victory over Asif with 6-5 scores in the final match.
ii. In the women’s tournament, The Three times World Junior champion, Wongharuthai Nutcharat (19) of Thailand defeated India’s Amee Kamani (Madhya Pradesh)  with 4-2 scores in the final.
iii. The event was hosted by Myanmar Billiards & Snooker Federation (MBSF). 6Reds Men Championship prize fund was at $ 7200 & Women Championship prize fund was at $ 2400.
iv. The Six-red World Championship (also known as the SangSom 6 Red World Championship for sponsorship purposes) is a six-red snooker match, played with the 6 colour balls and six reds.
About IBSF (International Billiards & Snooker Federation):
♦ Founded: 1971
♦ Headquarters: Dubai, United Arab Emirates (UAE)
♦ President: Mubarak Al-Khayarin

Indian chess player Koneru Hampi wins the Skolkova Fides Grand Prix title 2019 in Skolkovo, Russia
Indian chess grandmaster, Koneru Hampi (32) of Gudivada ( Andhra Pradesh) has cliched Fide World Grand Prix 2019 title with 8 points from 11 rounds in Skolkovo, Russia. While other Indian ,D Harika secured the sixth place with 5 points.Key points:
i. The Fide Grand Prix 2019 is a series of four chess tournaments. The top 2 candidates from this series will qualify for the match which will decide who will be the World Champion Challenger in 2021.It was organized by World Chess, formerly known as Agon.
ii. The other 3 Grand Prix will be held in Monaco from December 2 – 15,2019 while the second Grand Prix will be held in Lausanne from March 1 -14,2020 while the third Grand Prix in Sardinia will be between May 2 -15, 2020.
The list of top six winners at Fide World Grand Prix 2019:

BOOKS & AUTHORS

‘Girl Power: Indian Women Who Broke The Rules’ by Neha J Hiranandani on 50 indian women role models released
A new book named ‘Girl Power: Indian Women Who Broke The Rules‘ written by author Neha J Hiranandani was released on September 23, 2019. The book is about the stories/achievements of 50 Indian women role models. The book is published by Scholastic India.Key point:
Some of the women featured in the list were badminton player PV Sindhu, actress Priyanka Chopraa and real life heroines such as Subhasini Mistry, who won Padma Bhushan for healthcare,ChandroTomar, the octogenarian sharpshooter, popularly known as ‘Revolver Dadi’, queen Abbakka of Chowta dynasty etc.

New book titled  “India in the Persianate Age: 1000-1765” by professor and author Richard M Eaton released
On September 24, 2019 a new book named “India in the Persianate Age: 1000-1765” by United States(US) based professor and author, Richard M Eaton was released. This book mainly focuses on the rise of Persian culture and also about the civilisations, architecture, upheavals, and the art of the Indian subcontinent between 11th and 18th centuries. The book is published by Penguin India.

IMPORTANT DAYS

President inaugurates 6th India Water Week 2019 in New Delhi
On September 24, 2019, The President of India, Shri Ram Nath Kovind has inaugurated 6th India Water Week 2019 in New Delhi with the 2019 theme of “Water cooperation: Coping with 21st Century Challenges”.
i. In a bid to address the problem related to water, the Jal Shakti ministry  has come up with Jal Shakti Abhiyan, a campaign for water conservation and water security. It will focus on 256 water stressed districts and 1,592 water stressed blocks. The 5 key intervention areas under the campaign include water conservation and rainwater harvesting, renovation of traditional and other water bodies, reuse, bore well recharge structures, watershed development, and intensive afforestation…………………Click here to Read more

STATE NEWS

Election Commission appoints Ms Madhu Mahajan & Shri B Murali Kumar as special expenditure observers for Maharashtra
On September 23, 2019, The Election Commission of India (ECI) has appointed two former Indian Revenue Service (IRS) officers Madhu Mahajan (ex IRS 1982) and B. Murali Kumar (ex IRS 1983) as Special Expenditure Supervisors for the Maharashtra Assembly elections.
i. On September 23, 2019, Senior bureaucrat & present director of the tourism department, Nirmal Chandra Mishra, has been appointed as the chairman of the Odisha Staff Selection Commission (OSSC)………………….Click here to Read more

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