testbook...2018/12/30 · testbook.com 30 current affairs weekly capsule i th december 2018 to 5th...

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Current Affairs Weekly Capsule I

30th December 2018 to 5th January 2019 Current Affairs Weekly Capsule I 9thto 15th

September 2018

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30th December 2018 to 5th January 2019 Current Affairs Weekly Capsule I 9thto 15th

September 2018

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Table of Contents Awards & Honours .................................................................................................................................................................................... 3

Days & Events ........................................................................................................................................................................................... 3

International Affairs .................................................................................................................................................................................. 3

National Affairs ......................................................................................................................................................................................... 4

India & World ............................................................................................................................................................................................ 5

Personalities in News ................................................................................................................................................................................ 5

Government Policies & Schemes .............................................................................................................................................................. 5

Science & Technology ............................................................................................................................................................................... 6

Committees & Recommendations ............................................................................................................................................................ 7

Business & Economy ................................................................................................................................................................................. 7

Sports ........................................................................................................................................................................................................ 9

Defence ..................................................................................................................................................................................................... 9

Polity ........................................................................................................................................................................................................ 9


30th December 2018 to 5th January 2019 Current Affairs Weekly Capsule I 23rdto 29th

September 2018 Current Affairs Weekly Capsule I 16thto 22nd

September 2018 Current Affairs Weekly Capsule I 19th to 25th

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Awards &Honours

Wahengbam Singh to get National Bravery Award

Wahengbam Lamnganba Singh from Manipur was selected by the Indian Council for Child Welfare (ICCW) for receiving National Bravery Award.

He will be receiving the award from the Prime Minister Narendra Modi on January 23, 2019.

He saved his cousin brother from drowning in a pond on 16 May 2018.

The National Bravery Awards are given on every Republic Day.

AP govt bags CBIP award for Polavaram project

The Andhra Pradesh government bagged the Central Board of Irrigation and Power (CBIP) award for speedy execution of Polavaram multipurpose project.

It received the award in the category of 'Best Implementation of Water Resources Project' for better planning, implementation, and monitoring.

Polavaram project multipurpose project on the Godavari river.

Vijay Kumar won the Ramnath Goenka Award

S. Vijay Kumar was presented the 'Ramnath Goenka Excellence in Journalism' Award for Investigative Reporting (Print category) on 4 January 2019.

He is Senior Deputy Editor with 'The Hindu'.

The award has been instituted by the Ramnath Goenka Memorial Foundation.

Awards were presented to 29 journalists across India in various categories.

National Entrepreneurship Awards held in Delhi

The Ministry of Skill Development and Entrepreneurship hosted the third edition of the 'National Entrepreneurship' Awards in New Delhi on 4 January 2019.

The awards aim to recognize and honor outstanding young first-generation entrepreneurs and those who have contributed immensely to building the entrepreneurship ecosystem.

A total of 43 awards were presented for 2019.

Jayanta Kumar won 'National Geospatial Award'

The Indian Society for Remote Sensing (ISRS) conferred the National Geospatial Award for Excellence-2017 (Life Time Achievement Award) to IIT professor Jayanta Kumar Ghosh

The award was given to him for his contribution to the development of geospatial science and applications.

ISRS is an organisation known in the area of space science, remote sensing and geospatial technology.

National Nritya Shiromani Award for Anindita

US-based Kathak exponent Anindita Neogy Anaam will be honoured with the 'National Nritya Shiromani' award for 2019 on 2 January 2019.

She will be given the award for promoting the Kathak Dance across the world.

The award would be conferred on her in Cuttack on the opening day of the 10th 'Cuttack Mahotsav: International Dance and Music Festival'.

Days & Events

World Braille Day observed on 4 January

The United Nations observed the first official World Braille Day on 4 January.

The aim of the day is to raise awareness of the importance of Braille.

It also aims to raise awareness about the human rights of visually-impaired and partially-sighted people,

The day was proclaimed by the UN General Assembly in November 2018.

DRDO day is observed on 1 January

Defence Research and Development Organisation (DRDO) day is observed on 1 January.

The DRDO was established in 1958 with just 10 laboratories to enhance the research work in defence sector.

Dr. G Satheesh Reddy is the Chairman of DRDO.

DRDO works under the Department of Defence Research and Development of Ministry of Defence.

International Affairs

China tests its ‘Mother of All Bombs’

China tested its most powerful non-nuclear weapon, dubbed as the 'Mother of All Bombs' on 4 January 2019.

The bomb's strength is only second to that of a nuclear weapon.

It was dropped by a Chinese H-6K bomber.

The bomb is five to six meters long but weighs less than America's 'Mother of All Bombs' which was dropped in Afghanistan.

Trump signed 'ARIA' into law

The US President Donald Trump signed the 'Asia Reassurance Initiative Act' (ARIA) into law.

ARIA was earlier passed in the US Senate in December 2018.

The act establishes a multifaceted U.S. strategy to increase US security, economic interests, and values in the Indo-Pacific region.

The ARIA will authorise $1.5 billion in spending for a range of U.S. programs in East and Southeast Asia.

Panj Tirath site declared as National Heritage





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Pakistan has declared the ancient Hindu religious site of 'Panj Tirath' in Peshawar as National heritage.

Panj Tirath got its name from the five pools of water present there, also contains a temple and a lawn with date palm trees.

The five pools of the heritage site now come under the Chacha Yunus Park and Khyber Pakhtunkhwa Chamber of Commerce and Industry.

China’s probe lands on far side of moon

A China's Chang’e-4 lunar probe touched down on the far side of the moon on 3 January 2019.

The probe touched down at a targeted area near the moon’s south pole in the Von Karman Crater, after entering its orbit in mid-December 2018.

The tasks of the Chang’e-4 include astronomical observation, surveying the moon’s terrain, landform, mineral makeup, and measuring the neutron radiation.

Justice Asif appointed as new CJ of Pakistan

Justice Asif Saeed Khosa was appointed as the new Chief Justice of Pakistan.

He is the senior most judge of Pakistan's Supreme Court.

Justice Khosa will assume the charge of his office on 18 January 2019.

The incumbent Chief Justice of Pakistan Saqib Nisar will be retiring from service on 17 January 2019.

Brazil's Bolsonaro takes oath as President

Former Army captain, Jair Bolsonaro was sworn in as Brazil's President on 1 January 2019.

He won the Presidential election of Brazil on 28 October 2018.

He defeated leftist opponent Fernando Haddad.

He was declared the winner by the Supreme Electoral Tribunal after 94% of the votes were counted.

Justice Rana takes over as Nepal's new CJ

Justice Cholendra Shamsher J B Rana took over as the new Chief Justice of Nepal's Supreme Court on 2 January 2019.

President Bidya Devi Bhandari administered the oath to Justice Rana.

He will have a tenure of four years.

He succeeded Chief Justice Om Prakash Mishra, who retired on 1 January 2018.

He was appointed as the permanent judge of the Supreme Court on May 27, 2014.

Qatar will cease to be a member of OPEC

Qatar ceased to be a member of the Organisation of the Petroleum Exporting Countries (OPEC) from 1 January 2019.

Qatar is the first Gulf country to leave the bloc of oil-producing countries.

Qatar is the world's biggest supplier of Liquefied Natural Gas (LNG).

The OPEC is an intergovernmental organisation of 15 nations, founded in 1960 in Baghdad and headquartered in Vienna, Austria.

US, Israel quit UNESCO citing bias

The US and Israel had quit the United Nations Educational, Scientific and Cultural Organisation (UNESCO) with the close of 2018.

The countries had announced their decisions in 2017 of withdrawing from the agency, accusing it of bias against Israel.

Israel joined the agency in 1949.

UNESCO is best known for its work to preserve heritage, including maintaining a list of World Heritage sites.

Tropical storm 'Usman' strucks Philippines

A tropical storm named 'Usman' struck the Philippines on 25 December 2018.

Storm Usman resulted in heavy rain and triggered deadly landslides in the Bicol region in Manila, Philippines.

The tropical storm Usman emerged as the deadliest weather disaster for the Philippines after typhoon 'Mangkhut' in September 2018.

PM Sheikh Hasina wins the election

Bangladesh's Prime Minister Sheikh Hasina secured her third consecutive term on 29 December 2018.

Her ruling party Awami League and its allies have won 288 of the 300 parliamentary seats contested, surpassing its previous election wins.

Bangladesh's parliament has 350 seats in total, 50 of which are reserved for women and allotted proportional to the overall vote.

UN issues Chinese edition of its Basic facts

The United Nations issued the Chinese version of the latest edition of the 'Basic Facts about the United Nations'.

The Basic facts serve as the definitive introduction to the UN and its family of related institutions and agencies.

With this, the UN publication has been issued in all the six official languages-- Arabic, Chinese, English, French, Russian, and Spanish.

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Single-use plastic free flight introduced

Portuguese airline 'Hi Fly' introduced single-use plastic free flight on 29 December 2018.

The flight took off from Lisbon to Natale, Brazil, without a single piece of single-use plastic on board.

There were no plastic cups, plastic silverware, plastic cocktail stirrer, and plastic food containers.

National Affairs

Results of World Toilet Day Contest announced

Salem District is one among the top 12 winners of the World Toilet Day Contest 2018.

The Ministry of Drinking Water and Sanitation organised contests from 9 to 19 November 2018.

The aim of the contest was to encourage the districts to re-intensify the sanitation movement, with a special focus on open defecation free (ODF) sustainability.

NGT imposes Rs 100 Cr fine on Meghalaya govt

The National Green Tribunal imposed a fine of 100 crore rupees on Meghalaya government for its failure to curb illegal coal mining in the state.

The amount of the fine has to be deposited with the Central Pollution Control Board.

The action comes after a high-level committee submitted an adverse report to a bench headed by NGT chairperson AK Goel.

Organic Festival to be organised in Chandigarh

The 6th 'Women of India Organic Festival' will be held from 12 to 14 January 2019 in Chandigarh.

The festival will be organised by the Ministry of Women and Child Development.

The aim of the festival is to celebrate and promote women farmers and entrepreneurs in the organic sector from the remotest parts of India.

New Delhi World Book Fair begins

The 27th New Delhi 'World Book Fair' was inaugurated in New Delhi on 5 January 2019.

The theme of 2019 'World Book Fair' is 'Readers with Special Needs'.

All India Radio (AIR) is the radio partner for the fair.

To mark Mahatma Gandhi's 150th birth anniversary, there will be a special book exhibition of books on and by Mahatma Gandhi.

East Siang Dist. achieves 100% electrification

In Arunachal Pradesh, East Siang District has achieved 100% electrification under the Pradhan Mantri Sahaj Bijli Har Ghar Yojana- Saubhagya Scheme.

Pasighat Electrical division, which falls under the East Siang district, has electrified 2,662 households.

The power department has electrified 1,483 villages under 'Deen Dayal Upadhyaya-Gram Jyoti Yojana' in the state.

Veer Savarkar Airport declared as checkpost

The Veer Savarkar International Airport in Port Blair was declared as an authorised 'Immigration Check post' for entry into/exit from India.

This will open up the Port Blair Airport for direct international flight and immigration facilities.

The Superintendent of Police (CID), Andaman and Nicobar Police was appointed as the ‘Civil Authority’ for the purpose of the immigration check post.

IOC to commission Ennore LNG terminal

Indian Oil Corp (IOC) will commission its first liquefied natural gas (LNG) import terminal at Ennore in Tamil Nadu in January 2019.

This is the first LNG import terminal IOC has built on its own.

The company holds 12.5% stake in Petronet LNG Ltd, which operates import facilities at Dahej in Gujarat and Kochi in Kerala.

Sanjiv Singh is the Chairman of Indian Oil Corporation.

Renaming of Allahabad as Prayagraj approved

The Union Home Ministry approved a Uttar Pradesh government proposal to rename Allahabad as Prayagraj.

In October 2018, the UP government had proposed the change in name of Allahabad to Prayagraj.

The Home Ministry clears the name change proposals after the Ministry of Railways, the Department of Posts and the Survey of India confirm that no city, town or village has similar names.

Annual bird census to begin from Jan 4

Annual bird census in Chilika lake is slated to be carried out on 4 January 2019.

Chilika lake is the biggest brackish water lake in the country.

Experts from organisations like Bombay Natural History Society (BNHS), Wild Odisha, National Board of Wildlife, Regional Museum and Natural History, Chilika Development Authority (CDA) will take part in the census.

Telangana govt hospital enters Guinness Book

Telangana government's MNJ Institute of Oncology and Regional Cancer Centre entered the Guinness Book of World Records.

It organised the largest men's Health Awareness programme on prostate cancer on a single day.

Besides the Guinness World Record, the hospital also received recognition from 'High Range Book of World Records

Exhibition 'Dandi Yatra' organised by NGMA





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An exhibition titled 'Dandi Yatra' was inaugurated in New Delhi on 29 December 2018.

It was organised by the National Gallery of Modern Art (NGMA).

The exhibition is part of the celebration of the 150th birth anniversary of Mahatma Gandhi.

The exhibition showcases the unseen drawings of artist Chhaganlal Jadav and also the masterworks of NGMA's collection of contemporaneous artists.

India & World

India and World (24-29 Dec 2018)

The first meeting of the Follow-up Committee for implementation of the Trilateral Chabahar Agreement between India, Afghanistan, and Iran was held in Chabahar in Iran on 24 December 2018.

'India Ports Global Limited' company took over the operations of Chabahar port.

Nepal imposed a monthly limit (Rs 1 Lakh) on the amount of Indian currency its citizen can spend in India.

Personalities in News

Vijay Mallya named Fugitive Economic Offender

Vijay Mallya became the first tycoon to be charged under the Fugitive Economic Offenders Act, 2018.

According to the new law, a fugitive economic offender is a person against whom an arrest warrant has been issued for his or her involvement in economic offences involving at least Rs. 100 crore or more and has left India to avoid prosecution.

The new law came into effect from August 2018.

Arunima Sinha climbs Mount Vinson

Arunima Sinha has now become the first woman amputee to climb Mount Vinson (highest peak of Antarctica).

She was the world’s first woman amputee to climb Mount Everest in 2013.

She was a national level volleyball player who had one of her legs amputated in 2011.

She had earlier scaled five peaks including Mt Everest, Mt Kilimanjaro, Mt Elbrus, Mt Kosciuszko, and Mt Aconcagua.

Person in News ( 24-29 Dec 2018)

Indian woman Vedangi Kulkarni has become the fastest Asian to cycle the globe.

America's Mikaela Shiffrin became the youngest woman to win 50 World Cup ski races with victory in the slalom in the French Alps.

Colin O’Brady, an American adventurer, has become the first person to complete a solo trek across Antarctica without the assistance of any kind.

Government Policies & Schemes

Every district covered under BBBP scheme

According to the government of India, all the 640 districts of the country have been covered under the Beti Bachao Beti Padhao Scheme (BBBP).

The scheme is aimed at addressing the declining Child Sex

Ratio and enabling girl child education.

The scheme is implemented by the Ministries of Women and Child Development, Health & Family Welfare, and Human Resource Development.

'Swachh Survekshan 2019' launched

Housing and Urban Affairs Minister, Hardeep Singh Puri inaugurated the 'Swachh Survekshan 2019' on 4 January 2019.

The cleanliness survey will cover 40 crore people across over four thousand towns and cities.

For the first time ever, inspection will be conducted without giving any prior information to the concerned official for real-time check and survey will be based on people’s feedback.

States to rollout ‘Parivesh’ by January 15

The web-based ‘Parivesh’ will be rolled-out at state levels by 15 January 2019.

‘Parivesh’ (Pro-Active and Responsive facilitation by Interactive, Virtuous and Environmental Single-window

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Hub) is a single-window integrated environmental management system, developed under the ‘Digital India’ initiative.

It was launched by Prime Minister Narendra Modi in August 2018 on World Biofuel Day.

Haryana govt approves 11 projects

The Haryana government approved 11 projects for the rejuvenation of the Saraswati river on 2 January 2019.

These include the construction of Somb Saraswati barrage, Saraswati reservoir and Adi Badri dam on Somb river, a tributary of the Yamuna that originates in the Shivalik Hills.

The projects were approved by the Haryana Saraswati Heritage Development Board chaired by the Chief Minister.

Continuation of family welfare scheme approved

The Cabinet Committee on Economic Affairs has given its approval for the continuation of five schemes under the 'Umbrella Scheme for Family Welfare and Other Health Interventions' from 2017-18 to 2019-20.

The scheme will be funded 100% by Central Government.

The five schemes listed in the proposal are crucial to attaining the goals and objectives laid in National Health Policy (NHP) 2017.

Union Cabinet approves restructuring of NHA

The Union Cabinet approved the restructuring of existing National Health Agency (NHA) as 'National Health Authority' for better implementation of Pradhan Mantri - Jan Arogya Yojana (PM-JAY).

National Health Authority will be chaired by Union Health Minister to enable the decision making at a faster pace.

The authority will be working under the Ministry of Health & Family Welfare.

Amendment to Trade Unions Act, 1926 approved

The Cabinet has approved amendment to the Trade Unions Act, 1926 to make provisions regarding recognition of trade unions.

The approval will facilitate the recognition of Trade Unions at Central and State level.

The proposed Bill will ensure that the nomination of workers’ representatives in tripartite bodies by the government will become more transparent.

Continuation of Scheme for youths approved

The Union Cabinet approved the continuation of 'Rastriya Yuva Sashaktikaran Karyakram Scheme' for the Period 2017-18 to 2019-2020.

The total budget outlay for the scheme is Rs.1160 crore.

The scheme is an ongoing Central Sector Scheme of the Ministry of Youth Affairs & Sports.

The Scheme aims to develop the personality and leadership qualities of the youth.

Merchant exporters to get Rs. 600 crore sops

The government of India decided to provide 3% interest subsidy to merchant exporters to enhance the flow of funds for them with a view to boosting outbound shipments.

The decision was taken by the Cabinet Committee on Economic Affairs.

The proposal will entail benefits of around Rs. 600 crores to exporters on interest equalisation for the remaining period of the scheme.

Govt releases 6-crore LPG connection

The government of India gave 6-crore free cooking gas (LPG) connections under the Pradhan Mantri Ujjwala Yojana (PMUY) on 2 January 2019.

Vice President M Venkaiah Naidu handed over the 6 croreth LPG connection under PMUY to Jasmina Khatoon from Delhi.

The PMUY was launched on 1 May 2016, with a target to give 5 crore connections by March 2019.

100% houses in 25 states electrified

India achieved electrification in 100% households in 25 states at the end of 2018.

Now, only about 10.48 lakh households are left to be electrified in 4 states - Assam, Rajasthan, Meghalaya, and Chhattisgarh.

The 'Pradhan Mantri Sahaj Bijli Har Ghar Yojana' (Saubhagya) in September 2017 to achieve the goal of universal household electrification in the country by 31 March 2019.

Govt. notifies new GST return forms

The government of India notified new annual GST return forms which are required to be filed by businesses registered under the Goods and Services Tax (GST) regime by June 30, 2019.

It notified GST form GSTR-9, GSTR-9A, and GSTR-9C on 31 December 2018.

In the forms, businesses have to provide consolidated details of sales, purchases and input tax credit (ITC) benefits accrued in 2017-18.

Defence items not covered under Arms Act

The government of India announced that manufacturing of items of defence aerospace and warships will now be covered by Industries (Development and Regulation) Act.

The defence items now do not require licence under the Arms Act.

In May 2017, the Department of Industrial Policy and Promotion was allowed to process applications for grant of licence for manufacture of defence items.

CLSS on home loans for MIG extended





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The government of India extended the Credit Link Subsidy Scheme (CLSS) on home loans for the Middle Income Group (MIG) under the Pradhan Mantri Awas Yojana till March 2020.

The last extension was up to March 31, 2019.

Under CLSS, the government provides a subsidy of up to Rs 2.67 lakh on the home loan.

Till 30 December 2018, around 3,39,713 beneficiaries have availed loans under CLSS.

WB govt announces two initiatives for farmers

The West Bengal government announced two welfare initiatives for farmers on 31 December 2018.

Both initiatives are part of the 'Krishi Krishak Bondhu' scheme and will come into effect from 1 January 2019.

The 1st initiative will provide Rs 2 lakh to the family of a deceased farmer.

Under the 2nd initiative, farmers will get Rs 2,500 twice a year for growing a single crop on an acre of land.

MP govt decides to form new Spiritual Dept

Madhya Pradesh government decided to form a new Spiritual Department.

The Religious Trust and Endowments and Happiness Department will be merged in the new department.

The objective of the formation of the Spiritual Department is to strengthen inter-communal harmony and Sarvadharma Sambhav in the state covering all religions, sects, and faiths.

'Ujjwala Sanitary Napkin' launched in Odisha

Petroleum and Natural Gas Minister, Dharmendra Pradhan launched 'Ujjwala Sanitary Napkins' in Odisha on 30 December 2018.

Under the initiative, Oil Marketing Companies (OMC) will set up 100 manufacturing units at the Common Service Centres in Odisha.

The aim of the initiative is to educate women on female hygiene and health, and improve accessibility to low cost eco-friendly sanitary pads.

Science & Technology

Telescope to detect cosmic X-rays launched

US scientists have successfully launched a telescope from Antarctica that analyses X-rays arriving from distant neutron stars, black holes, and other exotic celestial bodies.

The name of the telescope is 'X-Calibur' instrument.

It is carried by a helium balloon and will reach an altitude of 130,000 feet.

Neutron stars are objects of very small radius.

Science & Technology (24-29 Dec 2018)

Researchers have developed the world's smallest tic-tac-toe game board by using dynamic DNA origami tiles.

Researchers have discovered a new exotic planet, HD219134 b, outside the solar system in the constellation 'Cassiopeia'.

SpaceX successfully launched the US Air Force’s first Global Positioning System (GPS) III satellite, nicknamed 'Vespucci', on 23 December 2018.

Committees & Recommendations

Committee formed to look into the JNV suicides

The Ministry of Human Resource Development constituted a Task Force to look into the reasons of suicides reported in the JNVs.

The Task Force will be headed by Psychiatrist, Dr. Jitendra Nagpal.

The Jawahar Navodaya Vidyalayas (JNVs) are fully residential schools managed and run by the Navodaya Vidyalaya Samiti, an autonomous organisation under the Ministry of Human Resource Development.

New panel to protect Assam’s heritage

The Union Cabinet approved the setting up of a high-level committee for implementation of Clause 6 of the Assam Accord.

The Accord provides for constitutional, legislative and administrative safeguards to protect, preserve and promote the cultural, social, linguistic identity and heritage of Assam.

It also recommended reserving Assembly seats for indigenous communities in the State.

U.K. Sinha to head RBI panel on MSME revival

The RBI has appointed an eight-member expert committee to comprehensively review and propose long-term solutions for the revival of the Micro, Small and Medium Enterprises (MSME) sector.

The committee will be headed by former SEBI chairman U.K. Sinha.

The committee will examine the factors affecting the timely and adequate availability of finance to the MSME sector.

Govt approves Central assistance to Tamil Nadu

On 31 December 2018, the government of India approved the release of Rs 1,146 crore to Tamil Nadu for the people affected by cyclone 'Gaja'.

The approval was given by High-Level Committee (HLC) chaired by Home Minister Rajnath Singh.

The Union Finance Minister Arun Jaitley, Union Minister for Agriculture, Radha Mohan Singh and Vice Chairman, Niti Ayog, Dr. Rajiv Kumar are the members of HLC.

Committee formed for implementation of RERA





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The government of India constituted a committee to suggest recommendations to strengthen the 'Real Estate Regulatory Authority' (RERA) and to remove difficulties in its implementation.

It will be headed by the Union Housing & Urban Affairs Joint Secretary, Shiv Das Meena.

RERA, which protects the interest of home buyers, empowers states to notify their rules & appoint regulatory authorities.

Business & Economy

Government merges three regional rural banks

The government of India merged three Regional Rural Banks- Punjab Gramin Bank, Malwa Gramin Bank, and Sutlej Gramin Bank.

The single RRB will come into effect from 1 January 2019.

The sponsor banks of the RRBs are NABARD, the Government of Punjab and Punjab National Bank, SBI, and Punjab and Sind Bank.

SEBI tweaks norms for commodity exchanges

The Securities and Exchange Board of India (SEBI) directed commodity derivatives exchanges to disclose the quantum of trading done by farmers and other commodity market participants.

Market participants include millers and wholesalers.

Currently, commodity derivatives exchanges disseminate turnover data for only two broad categories of participants — clients and proprietary.

RBI limits customer liability

The RBI decided to limit the liability of customers in case of unauthorised electronic payment transactions in Prepaid Payment Instruments (PPIs) issued by non-banks.

If the fraud is reported between three and seven days, customer liability will amount to the transaction value or Rs. 10,000.

For over seven days, the liability of the customer will be according to the policy of the PPI issue.

Custodial services in commodity market allowed

The Securities and Exchange Board of India (SEBI) allowed custodial services in the commodity derivatives market.

The move is aimed at enabling the participation of institutional investors such as mutual funds and portfolio managers in the commodity derivatives market.

Under the new framework, existing custodians will be permitted to add commodities as an asset class.

HDFC MF becomes the largest AMC in India

HDFC Mutual Fund surpassed the ICICI Prudential MF to become the country's largest asset management company on 3 January 2019.

HDFC manages assets of Rs 3.35 lakh crore, while those of ICICI Prudential MF stood at Rs 3.08 lakh crore.

SBI MF is at the third place with Rs 2.64 lakh crore, followed by Aditya Birla Sun Life MF (Rs 2.42 lakh crore) and Reliance MF (Rs 2.36 lakh crore).

Manufacturing PMI slows in December

Manufacturing Purchasing Managers’ Index (PMI) slowed down a bit to 53.2 in December 2018 as against 54 in November 2018.

This index is prepared on the basis of a survey which is conducted among purchasing executives in over 400 companies.

The index is prepared by 'IHS Markit' and it is widely to explain the latest industrial situation in a country.

Union Cabinet approves merger of 3 banks

On 2 January 2019, the Union Cabinet approved the merger of Vijaya Bank, Dena Bank with Bank of Baroda (BoB).

Following the merger of these banks, BoB will become the third largest bank in India after the State Bank of India and HDFC Bank in terms of assets.

The government of India in September 2018 had announced the merger of these three banks.

Direct tax-GDP ratio in FY18 best in 10 years

The Ministry of Finance said that the direct tax-to-GDP ratio of 5.98% achieved during 2017-18 fiscal is the best in the last 10 years.

It was 5.57% in 2016-17 and 5.47% in 2015-16.

The growth rate for corporate income tax (CIT) and personal income tax (PIT) stood at 17.7% and 18.3% respectively.

The number of individuals filing return of income has also increased by about 65% in 2017-18.

Anti-Dumping duty imposed on chemical

The Directorate General of Trade Remedies (DGTR) has recommended anti-dumping duty on a chemical used in paint and printing industries, imported from Brazil, Indonesia, and Thailand.

The name of the chemical is 'non-plasticised industrial grade nitrocellulose damped in isopropyl alcohol having nitrogen content in the range of 10.7-12.2%'.

The duties have been imposed for three years.

Paytm Payment Bank to restart account opening

The Reserve Bank of India allowed the Paytm Payments Bank to restart opening accounts for its customers.

The bank started 'Know Your Customer' formalities for its wallets as well as its bank accounts from 31 Dec 2018.

The RBI had asked the bank to stop adding new customers in June 2018.

Satish Gupta is the head of the Paytm Payments Bank.





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RBI gives relief to MSME sector

The RBI allowed a one-time restructuring of existing debt of up to 25 crore rupees for the MSMEs which have defaulted on payment of loans.

The restructuring of loans will be implemented by 31 March 2020.

It will help the Micro, Small and Medium Enterprises (MSMEs) which are facing cash crunch due to demonetisation and GST implementation.

Provision coverage ratio of banks increases

Public sector banks' Provision Coverage Ratio (PCR) has increased to 66.85% as of September 2018.

In 2015, the PCR was less than 50%.

The provision coverage ratio (PCR) gives an indication of the provision made against bad loans from the profit generated.

Higher the PCR, lower is the unexposed part of the bad debts.

Fund raising via NCD surges in 2018

As per the Security and Exchange Board of India's (SEBI) report, Indian companies raised over Rs 29,300 crore by issuing Non-Convertible Debentures (NCDs) to retail investors in 2018.

The companies raised money for funding expansion plans and other general purposes.

NCDs are loan-linked bonds that cannot be converted into stocks and usually offer higher interest rates than the convertible.

Govt infuses Rs 10,882 crore capital in 4 PSBs

The government of India has infused 10,882 crore rupees in four Public Sector Banks (PSBs).

It is a part of 28,615 crore rupees capital infusion to be done in about half a dozen public sector lenders.

The four PSBs are UCO Bank, Bank of Maharashtra, Syndicate Bank, and Central Bank of India.

The recapitalisation would enhance the lending capacity of the PSBs.

Core sector growth slows in Nov 2018

The Core sector growth slowed to 3.5% in November from 4.8% in October 2018, due to a slowdown in the coal, cement, and electricity sectors.

Coal production increased by 3.7% in November 2018 over November 2017.

The cement sector saw growth in November 2018 slowing to 8.8% from 18.4% in October.

The electricity sector grew 5.4% in November 2018 as compared with 10.9% in October 2018.

Allahabad Bank & SBI Life signed a pact

Allahabad Bank signed a bancassurance pact with SBI Life Insurance on 31 December 2018.

Under the pact, the SBI Life Insurance will be able to sell its products through various branches of Allahabad Bank.

Sanjeev Nautiyal is the CEO & MD of SBI Life Insurance.

Bancassurance is an arrangement through which an insurance company can sell its products through a bank.

Govt sets up export promotion cell for MSMEs

The MSME ministry has established an export promotion cell to create a sustainable ecosystem for Micro, Small and Medium Enterprises (MSMEs).

It will help in the integration of MSMEs into the global value chain.

It will also look into the areas where improvements are required in order to be able to export effectively and efficiently.

RBI: NBFCs balance sheet grew by 17.2%

As per the RBI, the balance sheet size of Non-Bank Financial Companies (NBFCs) grew by 17.2% to Rs 26 trillion in September 2018 from Rs 22.2 trillion in September 2017.

The NBFCs Capital to Risk-weighted Assets Ratio (CRAR) decreased to 21% in September 2018 from 22.8% in March 2018.

Core sector growth slows in Nov 2018

The Core sector growth slowed to 3.5% in November from 4.8% in October 2018, due to a slowdown in the coal, cement, and electricity sectors.





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Coal production increased by 3.7% in November 2018 over November 2017.

The cement sector saw growth in November 2018 slowing to 8.8% from 18.4% in October.

The electricity sector grew 5.4% in November 2018 as compared with 10.9% in October 2018.

Allahabad Bank & SBI Life signed a pact

Allahabad Bank signed a bancassurance pact with SBI Life Insurance on 31 December 2018.

Under the pact, the SBI Life Insurance will be able to sell its products through various branches of Allahabad Bank.

Sanjeev Nautiyal is the CEO & MD of SBI Life Insurance.

Bancassurance is an arrangement through which an insurance company can sell its products through a bank.

Govt sets up export promotion cell for MSMEs

The MSME ministry has established an export promotion cell to create a sustainable ecosystem for Micro, Small and Medium Enterprises (MSMEs).

It will help in the integration of MSMEs into the global value chain.

It will also look into the areas where improvements are required in order to be able to export effectively and efficiently.

RBI: NBFCs balance sheet grew by 17.2%

As per the RBI, the balance sheet size of Non-Bank Financial Companies (NBFCs) grew by 17.2% to Rs 26 trillion in September 2018 from Rs 22.2 trillion in September 2017.

The NBFCs Capital to Risk-weighted Assets Ratio (CRAR) decreased to 21% in September 2018 from 22.8% in March 2018.

Loans and advances in the NBFC sector increased by 16.3% and investments increased by 14.1%.

Bank GNPAs improved to 10.8%

The 'Financial Stability Report' was released by the Reserve Bank of India (RBI) on 31 December 2018.

As per the report, banks showed improvement with Gross Non-Performing Assets' (GNPAs) ratio declining to 10.8% in September 2018 from 11.5% in March 2018.

The Net Non-Performing Assets (NNPAs) ratio also witnessed a fall at 5.3% in September 2018 as against 6.2% in March 2018.

Banks recover ₹40,400 crore from defaulters

According to RBI, in the fiscal ended March 2018, banks recovered ₹40,400 crore worth of bad loans as against ₹38,500 crore recovered in FY17.

The various channels through which lenders recovered their bad loans include the Insolvency and Bankruptcy Code (IBC), SARFAESI Act, Debt Recovery Tribunals (DRTs) and Lok Adalats.

The amount recovered through SARFAESI was ₹26,500 crore in FY18.

Govt extends import restrictions on peas

The commerce ministry extended the import restrictions on peas for another three months till 31 March 2019.

Such measures help in curbing cheaper imports and boost local prices.

The restrictions were imposed by the Directorate General of Foreign Trade (DGFT.

India is the largest producer of pulses in the world.

ESAF is now ‘scheduled bank’

ESAF Small Finance Bank Ltd has received the RBI’s approval for inclusion in the second schedule of the RBI Act, 1934.

Now the bank can seek funds from trusts, associations, religious institutions, and mutual funds.

It will also enable the bank to avail higher refinance facility.

R Prabha is the Chairman of ESAF Small Finance Bank.

The headquarters of the bank is in Thrissur, Kerala.

Sports

Vadodara to host 8th International Marathon

Vadodara will host the eighth International Marathon on 6 January 2019.

The marathon will be held across four categories: 42 km, 21 km, 10 km and 5 km.

Other categories include 'divyang paralympic run', 'swachhata run', 'pledge run' and 'jawan run'.

The marathon is accredited to the Association of International Marathon and Distance Races.

National Table Tennis Championship begins

The 80th National Table Tennis Championship began at Jawaharlal Nehru Indoor Stadium in Cuttack, Odisha on 4 January 2019.

Odisha State Table Tennis Association (OSTTA) is hosting the National Table Tennis Championship.

The event will conclude on 9 January 2019.

As many as 35 teams, including 550 players from different parts of the country are participating in the championship.

Jasprit becomes highest wicket taker of 2018

Indian bowler Jasprit Bumrah became the highest wicket-taker across all formats in 2018.

He took 78 wickets in 2018.

He took 48 wickets in 9 Tests, 22 wickets in 13 ODIs and 8 wickets in 8 T20I matches.

South Africa's bowler Kagiso Rabada is at second place, who took 77 wickets in 2018.

Smriti won the ICC 'Women's Cricketer' award





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India women's cricket vice-captain Smriti Mandhana won the 'Women's Cricketer of the Year' and the 'Women's ODI Player of the Year' by the International Cricket Council (ICC).

She won the 'Women's Cricketer of the Year' for scoring 669 runs in 12 ODIs along with 622 runs in T20 Internationals in 2018.

She became only the second India woman player to win an ICC award after Jhulan Goswami.

ICC name Women's ODI and T20I team of the year

International Cricket Council (ICC) announced women's ODI and T20I teams of the year 2018.

New Zealand’s Suzie Bates was named as captain of the 50-over side and Harmanpreet Kaur of India appointed captain of the T20 team.

The teams have been selected by Voting Academy comprising of members from media and broadcast.

Defence

Lt Gen Manoj takes charge of Gajraj Corps

Lt Gen Manoj Pande took the command of the Indian Army's Gajraj Corps on 30 December 2018.

He replaced Lt Gen Gurpal Singh Sangha.

Prior to this, he was the Chief of Staff in Headquarters Southern Command.

The Gajraj Corps (IV Corps) is a military field formation of the Indian Army, created in 1961.

Polity

Companies (Amendment) Bill passed in Lok Sabha

On 4 January 2019, the Lok Sabha passed the Companies (Amendment) Bill, 2018.

The Bill seeks to improve ease of doing business, reduce the burden on the National Company Law Tribunal (NCLT) and prescribe strong action against non-compliant companies.

The Companies (Amendment), Bill, 2018 replaces the Ordinance promulgated in November 2018.

New Delhi Arbitration Centre Bill passed in LS

The New Delhi International Arbitration Centre Bill was passed in Lok Sabha on 4 January 2019.

The Bill seeks to establish an independent and autonomous regime for institutionalised arbitration.

It also seeks for acquisition and transfer of undertakings of the International Centre for Alternative Dispute Resolution (ICADR).

ICADR works under the aegis of the Supreme Court.

Parliament approves NCTE amendment bill

Rajya Sabha passed the 'National Council for Teacher Education (Amendment) Bill' on 3 January 2019.

The bill seeks to provide retrospective recognition to central and state government funded institutions offering B.Ed and related courses that are not recognised under the National Council for Teacher Education Act.

The Lok Sabha has already passed this bill on 23 July 2018.

RTE (Amendment) Bill, 2018 passed

On 3 January 2019, the Parliament passed the Right of Children to Free and Compulsory Education (Amendment) Bill, 2018.

The Parliament empowered states to detain weak students in the same class if they fail to pass annual exams.

As per the current provisions of RTE Act, no student can be detained up to class 8th.

The bill also allows the reintroduction of examinations for primary schools.

Bill to amend Arunachal's ST list approved

The Union Cabinet approved the introduction of a bill to modify the list of Scheduled Tribes of Arunachal Pradesh.

The bill proposes the deletion of the 'Abor' tribe from the state's ST list as it is the same as 'Adi' tribe.

The bill seeks to include the Mishmi-Kaman (Miju Mishmi), Idu (Mishmi) and Taraon (Digaru Mishmi) tribes in the list.

Aadhaar Amendment Bill introduced in Lok Sabha

On 2 December 2018, the government of India introduced the Aadhar amendment bill in Lok Sabha.

The bill seeks to provide legal backing for voluntary seeding of biometric Aadhaar ID with mobile numbers and bank accounts after the Supreme Court barred mandatory use of the Aadhar by private firms.

In December 2018, the Union Cabinet approved amending the existing Aadhaar law.

Medical Council (Amendment) Bill passed in LS

The Indian Medical Council (Amendment) Bill 2018 was passed in the Lok Sabha on 31 December 2018.

The bill aims to run the Medical Council of India (MCI) through a panel of eminent professionals.

The powers of the council have been vested in a Board of Governors (BoG).

It will continue to perform till a Council is constituted.

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