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Daily G.K. - Top Stories

07 Jan 2019

INTERNATIONAL AFFAIRS

Saudi Women to be Texted on Divorce

  •  As per reports, Saudi courts will notify women by text message when they get divorced, in a new regulation.
  • The measure, approved by the Justice Ministry, is aimed at curbing seemingly rampant cases of men secretly ending marriages without informing their wives.
  • Women will be notified of any changes to their marital status via text message.
  • Women in the kingdom will be able to view documents related to the termination of their marriage contracts through the Ministry's website.

Malaysia's King Abdicated

  •  Malaysia's King has abdicated, in a historic first for the country that ended weeks of speculation about his future after he took medical leave.
  • Sultan Muhammad V's decision marks the first time a King has abdicated in the country since it gained independence from Britain in 1957.
  • There had been a question mark over the reign of the King, who ascended to the throne in December 2016, since he took a leave of absence for medical treatment in November.
  • Reports then circulated online that he had married a former Miss Moscow in Russia.
  • Malaysia is a constitutional monarchy, with a unique arrangement where the throne changes hands every five years between rulers of the nine Malaysian States headed by centuries-old Islamic royalty.

Trump Considering National Emergency

  •  US President Donald Trump said that he was considering declaring a national emergency to find funding for the border wall after a White House meeting with Democrats that both sides described as contentious.
  • The President also told Democrats that the partial shutdown of the federal government caused by the funding stalemate could go on for a very long period of time, months or even years. But he was hoping it would end sooner.
  • The two sides remain where they have been for days. President wants $5.6 billion for a wall along the border with Mexico and the Democrats are not willing to allocate anything from $1.3 billion, and that too only for boosting border security measures, and not for the wall.
  • But they are willing to negotiate and want the President and Republicans to agree to reopen the government as they continue to discuss funding for the wall.
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BUSINESS AND ECONOMY

Breather on Bad Loans

  •  In the last five years, investors and depositors in India have become accustomed to banks springing unpleasant surprises on them every time they thought the worst was over on the bad loan crisis.
  • The Reserve Bank of India's half-yearly Financial Stability Reports, which take stock of the strength and stability of Indian banks, had turned into chronicles of gloom tracing the steady worsening of the crisis.
  • But the RBI's latest report for December 2018 breaks away from the trend to offer glimmers of hope to these stakeholders.
  • For the first time since the bad loan saga began to play out six years ago, Indian banks have reported a decline in the proportion of loans gone bad for the half-year ended September 2018.
  • Their aggregate Gross Non-Performing Asset (GNPA) ratio dipped from 11.5% in March 2018 to 10.8% in September 2018. The GNPA ratio captures the proportion of loans in a bank's books on which borrowers haven't repaid dues for more than 90 days.

Hydro Projects Stalled

  •  A total of 37 hydro power projects of 12GW generation capacities are under construction in the country.
  • Out of these, 16 projects with a total generation capacity of 5,950 MW are either stalled or held up due to financial constraints and other reasons.
  • According to the Central Electricity Authority estimates, the annual loss of energy generation from these stalled hydro projects is about 18,761 million units.
  • As per reports, the government is working on a hydro policy that would provide for longer loan repayment period, lower interest rate and other incentives which would help bring down the tariff of these projects.

PSBs Rationalising Foreign Units

  •  Public sector banks are in the process of closing or rationalising about 69 overseas operations in the next few months as part of their capital conservation exercise.
  • Planned rationalisation of operations and examination of a total of 216 overseas operations of the public sector banks (PSBs) was undertaken last year.
  • Following the review, 35 overseas operations were closed while 69 are under process or being considered for rationalisation.
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SPORTS

India Scripted History in Australia

  •  The Virat Kohli-led side scripted history as they clinched India's first-ever Test series win in Australia by 2-1 after rain played the spoilsport on the fifth day and ended the fourth and the final match in a draw at the Sydney Cricket Ground (SCG). 
  • Virat Kohli`s side utterly dominated the action to deservedly become the first side from the Asian sub-continent to take the honours Down Under.
  • The Indian team is yet to win a series in South Africa but finally breaking through in Australia will do much to burnish the reputation of Kohli and a team already ranked number one in the world in the longest format of the game. 
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NATIONAL AFFAIRS

Rajnath to Head Manifesto Panel

  •  Senior BJP leader and Union Minister Rajnath Singh will head the party's "sankalp patra" (manifesto) committee and Arun Jaitley its publicity wing for the Lok Sabha election as its president Amit Shah announced the formation of 17 groups in preparation for the election.

World Book Fair in Delhi

  •  Union Minister for Human Resource Development Prakash Javadekar inaugurated the nine-day long New Delhi World Book Fair at Pragati Maidan.
  • The theme for this year revolves around book for 'Readers with Special Needs'.
  • The idea behind the theme is to emphasise on inclusive learning which includes audio, silent tactile and braille books for the specially-abled.
  • This year's Guest of Honour at the Book Fair is Sharjah.
  • For the first time, an International Disability Film Festival is being organised at the New Delhi World Book Fair, where over 45 documentaries from 27 countries will be screened every day.
  • Nearly 700 publishers are participating this year in the fair.
View Month Wise

DEFENCE

Defence Manufacturing Rules Eased

  •  The government issued a notification to simplify the process for approval of manufacturing of a range of defence and aerospace equipment and components by private industry, by bringing them under the licensing authority of the Department of Industrial Policy and Promotion (DIPP).
  • This notification, which supersedes DIPP's earlier press note of June 2014 on this issue, segregates defence items in two categories covered by two different Acts — the Industries (Development and Regulation) Act, 1951, and the Arms Act, 1959.
  • This move is also expected to help foreign Original Equipment Manufacturers (OEM) looking for partnerships with the private sector.
  • The Defence Ministry has formulated an ambitious Strategic Partnership (SP) model under the Defence Procurement Procedure (DPP), covering four specific areas to promote role of private sector in defence manufacturing.

Indian Navy to Get New Airbase

  •  The Andaman and Nicobar island territories will get a new airbase at the archipelago in the Indian Naval Air Station (INAS) Kohasa near Diglipur.
  • The facility was earlier known as INS Shivpur and has been renamed as INS Kohasa after the extension of facilities at the base.
  • The new base would be in addition to the Port Blair, Car Nicobar and Navy`s INS Baaz facility at the greater Nicobar islands and is scheduled to be inaugurated by the Andaman and Nicobar Command chief Vice Admiral Bimla Verma by January end.
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