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Daily G.K. - Top Stories

19 Jan 2019

INTERNATIONAL AFFAIRS

Trump, N.Korea's Kim to hold second summit in late February

  • U.S. President Donald Trump will hold a second summit with North Korean leader Kim Jong Un in late February but will maintain economic sanctions on Pyongyang, the White House said on January 18, after Trump met Pyongyang's top nuclear negotiator.
  • The first summit produced a vague commitment by Mr. Kim Jong Un to work towards the denuclearization of the Korean peninsula, but he has yet to take what Washington sees as concrete steps in that direction.
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ENVIRONMENT

Better not to be in Delhi, it's like 'gas chamber': Supreme Court 

  • It is better not to be in Delhi, the Supreme Court said on January 18, 2019, expressing its despair over the lack of implementation of measures to curb air pollution and traffic congestion in the capital which, it added, has become like a "gas chamber". 
  • A bench of justices Mishra and Deepak Gupta said these problems affect the right to life. 
  • The court asked the Delhi police what action they have taken to remove unclaimed vehicles — that are no longer required in legal cases — from police stations. It also asked the Delhi government why they have not appointed district 'nazir' (record keeper of record-room). 
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BUSINESS AND ECONOMY

Price war: Jio will stick to tariffs, no relief seen for rivals 

  • Reliance Jio Infocomm has told analysts that it sees no reason to raise tariffs now as it is generating strong revenue growth and robust customer additions at the prevailing levels, signalling that a revenue recovery for rivals Vodafone Idea (VIL) and Bharti AirtelNSE remains distant. 
  • Several analysts from brokerages such as Goldman Sachs, Morgan Stanley and Citi Research, present at Jio's post fiscal third quarter earnings meet, quoted the mobile phone company's executives by saying that customer acquisition remains the focus, despite it having crossed 280 million subscribers, giving it a nearly 24% subscriber market share and over 26% revenue market share. 

India's debt up 50% to Rs 82 lakh crore in Modi era 

  • Total liabilities of the government have increased 49 per cent to Rs 82 lakh crore in the last four-and-half years during the Narendra Modi government, as per the 8th Edition of the Status Paper on Government Debt released on 18th January, 2019.
  • Compared to the latest data available till September 2018 when the total debt of the Central government stood at Rs 82,03,253 crore, the corresponding amount till June 2014 was Rs 54,90,763 crore, the Finance Ministry's data on government borrowings shows.
  • The huge surge in government's debt has been propelled by 51.7 per cent growth in public debt from Rs 48 lakh crore to Rs 73 lakh crore in the four-and-half year period, which in turn was driven by 54 per cent rise in internal debt to about Rs 68 lakh crore. 
  • Dependence on market loans shows a similar rise of 47.5 per cent to more than Rs 52 lakh crore during the period. While debt raised through gold bonds was nil at the end of June 2014, it stood at Rs 9,089 crore including the gold monetisation scheme.
  • While the country's debt has been on the rise, little help is expected from the fiscal deficit side in the current financial year. The fiscal deficit in the first eight months till November stands at Rs 7.17 lakh crore, or 114.8 per cent of the Rs 6.24 lakh crore full year's target. 

Farmer producer organisation from Gujarat makes first cotton deposit on MCX 

  •  A Farmer Producer Organisation (FPO) representing over 1,600 farmers from Somnath-Gir district, Gujarat has made a cotton deposit for the first time on Multi Commodity Exchange of India Ltd.
  • MCX is actively engaged in training farmers, handholding the Farmer Producer Organisations (FPOs) and connecting them with the Exchange platform in several states across the country. 
  • It is already closely working with several FPOs or progressive farmers group in the producing region through institutions like Ambuja Cement Foundation, Reliance Foundation, CIMAP, NGOs and state agricultural and horticultural department officials. 
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SCIENCE & TECHNOLOGY

772 million email IDs outed in what could be largest data breach ever

  • In what could be the biggest data breach in recent times, over 772 million email addresses and 22 million unique passwords have been outed in a collection of files uploaded to cloud service MEGA.
  • Calling it Collection #1, Microsoft's regional director and MVP for developer security Troy Hunt, who revealed the breach first, said the dump was a "set of email addresses and passwords totalling 2,692,818,238 rows". Also, in total, this adds up to "1,160,253,228 unique combinations of email addresses and passwords".

India ranks third in research on artificial intelligence

  • India ranks third in the world in terms of high quality research publications in artificial intelligence (AI) but is at a significant distance from world leader China, according to an analysis by research agency Itihaasa, which was founded by Kris Gopalakrishnan, former CEO and co-founder of Infosys.
  • India, while third in the world with 12,135 documents, trailed behind China with 37, 918 documents and the United States with 32,421 documents.
  • However, when parsed by another metric 'citations'— or the number of times an article is referenced — India ranked only fifth and trailed the United Kingdom, Canada, the U.S. and China.
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NATIONAL AFFAIRS

4 skip Karnataka CLP meet; Congress shifts remaining MLAs to resort 

  • The Congress on January 18, 2019 swiftly shifted all its Karnataka MLAs to a resort on the outskirts of Bengaluru to foil any poaching bid by the BJP after four lawmakers skipped the Congress Legislature Party (CLP) in a show of defiance. 
  • Ramesh Jarkiholi (Gokak), Mahesh Kumathalli (Athani), B Nagendra (Ballari rural) and Dr Umesh Jadhav (Chincholi) did not show up, despite the party warning all lawmakers that their absence could lead to disqualification as MLAs. 
  • The Congress leadership decided to keep its MLAs together after hearing about the BJP allegedly making 'irresistible' offers to its MLA. 

New Delhi appoints new envoys for Israel, South Africa, Bhutan, Maldives

  • In a major reshuffle of ambassadorial appointments, the Ministry of External Affairs has decided on sending new Ambassadors to Israel, Mexico, South Africa, Argentina, New Zealand and Vietnam. There will also be two significant changes in the neighbourhood coinciding with new governments being elected in Bhutan and the Maldives.
  • India's High Commissioner to South Africa Ruchira Khamboj is expected to be posted to Thimphu after completing the visit of South African President Cyril Ramaphosa who will be the Chief Guest for the Republic Day parade this year. 
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PERSONS IN NEWS

Dinesh Maheshwari, Sanjiv Khanna sworn in as Supreme Court judges

  • Justices Dinesh Maheshwari and Sanjiv Khanna were sworn in as Supreme Court judges by Chief Justice of India Ranjan Gogoi.
  • Maheshwari and Khanna were selected by the collegium after Justice Arun Mishra replaced Justice Madan B Lokur, who demitted office in December. The earlier collegium had recommended the names of Rajasthan High Court Chief Justice Pradeep Nandrajog and Delhi High Court CJ Rajendra Menon. 
  • The controversy blew over after the government immediately confirmed the collegium's recommendations. 

Ex-CFO Shashidhar Kotian arrested in NSEL scam

  • The economic offences wing of the Mumbai police, probing the Rs 5,600-crore NSEL scam, has arrested Shashidhar Kotian, the former chief financial officer of the now-shuttered commodities spot exchange.
  • The NSEL scam refers to the payment crisis driven by the physical absence of the commodities against the invested money. As many as 13,000 investors have claimed losses after the trading platform faced a payment crisis, forcing the government to order its shuttering.
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GOVERNMENT POLICIES AND SCHEMES

Madhya Pradesh government draws up plan to offer Rs 50,000 crore waiver 

  • The Madhya Pradesh government has drawn up a six week calendar to execute what will be the biggest farm loan waiver done till date by any state, at nearly Rs 50,000 crore, and is sending its MLAs, ministers and 600 nodal officers out on the ground with three different-coloured forms to be filled up by nearly 55 lakh farmers. 
  • From February 22, the state government aims to start transferring money directly into the "bank loan accounts" of farmers across the state, which would mean that the bank would immediately adjust the same against the outstanding loan. 
  • The huge task of filling up 55 lakh forms in little over two weeks by the designated date of February 5, which one to fill among the maze of three forms — white, green and orange in colour — and only Rs 5,000 crore allotted for the exercise so far, are some of the major challenges in the plan.
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