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Daily G.K. - Top Stories

08 Jun 2019

INTERNATIONAL AFFAIRS

May Quits as Tory Leader

  •  British Prime Minister Theresa May stepped down as leader of her Conservative Party, formally triggering the race for a successor who will try where she failed to deliver Brexit.
  • Ms. May will remain Prime Minister until a new leader is chosen, likely in late July, but will make no further moves on Britain's tortuous departure from the European Union.
  • Brexit is still scheduled for October 31 but while the contenders thrash it out over the leadership, the project remains stalled, with the only divorce plan agreed with Brussels rejected in Parliament.

Russia and China Present Common Economic Front

  •  China's Xi Jinping and Russia's Vladimir Putin hit back at U.S. global economic dominance as they took the stage together at Russia's showcase business forum.
  • With China embroiled in a trade war with Washington and Russia under Western sanctions, Mr. Xi and Mr. Putin lashed out at inequalities in the global economic system and vowed to pursue closer ties between their countries.

Sirisena Wanted to Scrap Parliamentary Probe

  •  President Maithripala Sirisena conveyed to the Speaker earlier in June  that the ongoing probe into the Easter attacks by a parliamentary panel could hinder court proceedings in the criminal investigations of the bombings.
  • However, the Parliamentary Select Committee (PSC), which was informed of the President's note, told the Speaker that sittings would continue.
  • In a letter to the Speaker, PSC members said that the Parliament is the sole judge of its powers and privileges, and had exclusive jurisdiction over its own proceedings.
View Month Wise

BUSINESS AND ECONOMY

RBI Revises Stressed Asset Resolution Norms

  •  After the Supreme Court struck down the controversial 2018 circular of Reserve Bank of India (RBI) on stressed asset resolution, the banking regulator released revised set of norms which are substantially less stringent from the previous one.
  • In particular, neither there is a mandate to start resolution which results in higher provisioning if there is a single day default nor a mandate for initiating insolvency proceeding if resolution plan is not implemented for large accounts within a time frame.
  • However, the RBI has sought to nudge banks towards the insolvency courts by introducing a disincentive in the form of additional provisions for delayed resolution.
  • At the same time, the central bank said that it would issue directions to banks for initiation of insolvency proceedings against borrowers for specific defaults so that the momentum towards effective resolution remains uncompromised.
  • The new circular asked lenders to undertake a prima facie review of the borrower account within 30 days from a default, which is termed as "review period."
  • During this review period, lenders may decide on the resolution strategy, including the nature of the resolution plan (RP), the approach for implementation of the RP etc.

SEBI and MCA Sign Pact

  •  The Securities and Exchange Board of India (SEBI) and the Ministry of Corporate Affairs (MCA) signed a memorandum of understanding (MoU) to facilitate seamless sharing of data and information for carrying out scrutiny, inspection, investigation and prosecution.
  • This assumes significance as the MCA has the database of all registered firms while SEBI only regulates listed entities that may have unlisted subsidiaries, with the MCA having access to all the data of such unlisted entities.
  • The MoU comes in the wake of increasing need for surveillance in the context of corporate frauds affecting important sectors of the economy.

Bharat Forge JV with Refu Electronik

  •  Auto components major Bharat Forge formed a joint venture with Germany's Refu Electronik GmbH for the development and manufacture of electric vehicle (EV) components with an investment of 11.35 million euros (about Rs. 89 crore).
  • The JV will be into developing, manufacturing and selling of on-board controllers and components.
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SCIENCE & TECHNOLOGY

NASA Opening the Space Station

  •  NASA executives announced that the space agency will open up parts of the International Space Station to more commercial opportunities, allowing companies unprecedented use of the space station's facilities, including filming commercials or movies against the backdrop of space.
  • NASA is also calling on the private space industry to send in ideas for habitats and modules that can be attached to the space station semi-permanently.
  • A new interim directive from NASA allows private companies to buy time and space on the ISS for producing, marketing, or testing their products.
  • It also allows those companies to use resources on the ISS for commercial purposes, even making use of NASA astronauts' time and expertise (but not their likeness).
  • If companies want, they can even send their own astronauts to the ISS, starting as early as 2020, but all of these activities come with a hefty price tag.
  • Russia is more open to ads and brandingon the ISS (as it was with the Mir space station) and has sent tourists to the ISS before.
  • But NASA has strictly prohibited the use of its side of the International Space Station for commercial purposes.
View Month Wise

SPORTS

Nadal Defeats Federer

  •  Rafael Nadal defeated Roger Federer in the semi-finals of the French Open and as a result of this win, the Spaniard has entered the finals, keeping the hopes alive for his 12th Roland Garros title.
  • It was Nadal`s 14th win in 16 clay-court matches against Federer. 

Physical Disability Cricket World Series

  •  All-rounder Vikrant Keni was named captain of the first-ever India team for a six-nation T20 Physical Disability Cricket World Series, to be played in England from August 5-15, 2019.
  • The event is hosted by the England and Wales Cricket Board (ECB), featuring host England, Pakistan, Afghanistan, Bangladesh and Zimbabwe as the other participants.
  • The BCCI will send the 16-member squad, selected by the Al India Cricket Association for Physically Challenged as the official national squad for the T20 tournament.
  • The Indian team is named Wadekar Warriors, in honour of the late Ajit Wadekar, noted India skipper and founder of AICAPC.

2019 FIFA Women's World Cup

  •  The 2019 FIFA Women's World Cup is the eighth edition of the FIFA Women's World Cup, the quadrennial international football championship contested by the women's national teams of the member associations of the Fédération Internationale de Football Association (FIFA) between 7 June and 7 July 2019.
  • In March 2015, France won the right to host the event; the first time the country is hosting the tournament, and the third time by a European nation.
  • Matches are planned for nine cities across France. The United States enters the competition as defending champions.
  • There are 24 teams participating in the tournament.
View Month Wise

NATIONAL AFFAIRS

NPP Gets National Party Status

  •  The ruling National People's Party (NPP), which is in an alliance with the BJP in Meghalaya, was granted recognition as a national party by the Election Commission.
  • The NPP becomes the first party from the region to get the status.
  • It is a recognised party in four states of the region.

INLD MLA Joins BJP

  •  In a fresh setback to the Opposition Indian National Lok Dal in Haryana, its sitting MLA from Fatehabad constituency Balwan Singh Daulatpuria joined the BJP.
  • Mr. Daulatpuria announced his decision to quit the INLD at a meeting of BJP workers in Fatehabad.
  • He was welcomed by Chief Minister Manohar Lal Khattar.

India Slams Secrecy in UN Panel

  •  India strongly criticised the lack of transparency in the functioning of the UN Security Council's Sanctions Committee which took over a decade to blacklist Pakistan-based Jaish-e-Mohammed chief Masood Azhar as a global terrorist. India's criticism of the UN's top organ came a month after getting Azhar blacklisted as a global terrorist by the the world body.
  • According to India's Deputy Permanent Representative to the UN Ambassador K. Nagaraj Naidu, India has seen several such bodies being created and tasked with crucial responsibilities such as taking decisions on listing and delisting individuals and entities from the various sanctions regimes of the Council. 
  • Naidu said that not only do these subsidiary bodies have varied and custom-made working methods, but they also follow obscure practices which do not find any legal basis.
View Month Wise

DEFENCE

Army's Key Handle Blocked

  •  The Indian Army was in for a bit of a shock when it found one of its key social media handles locked out.
  • The handle, though, was restored after the army took the issue up with Twitter.
  • The account @ChinarcorpsIA belongs to the army's Srinagar-based 15 Corps headquarters dealing with operations in the Valley and also along the LoC with Pakistan.
View Month Wise

PERSONS IN NEWS

Chandrakant Patil Pune District's Guardian Minister

  •  
     Chief Minister Devendra Fadnavis handed over charge of the portfolio of Pune district guardian minister to Chandrakant Patil.
  • This came after Pune MP Girish Bapat resigned from the post. Guardian minister is a key post with all major decisions in the district falling under the purview of the minister.
  • Patil, currently a cabinet minister in Fadnavis' Maharashtra cabinet, was in charge of Western Maharashtra during the Lok Sabha elections and played an important role in ensuring the BJP's victory in the sugar belt.

Pradeep Kumar Sinha Gets Extension

  •  Cabinet Secretary Pradeep Kumar Sinha was given three-month extension, the third one after assuming the top post.
  • In May 2015, Sinha was appointed Cabinet Secretary for a fixed two-year term.
  • The Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi approved the extension for a further period of three months, beyond June 2019.
  • Earlier, Sinha's term was extended for one-year each in 2017 and 2018. This is the third time that Sinha's tenure has been extended.
View Month Wise

DAYS AND EVENTS

World Ocean Day

  •  World Oceans Day takes place every 8th June. The concept was originally proposed in 1992 by Canada's International Centre for Ocean Development (ICOD) and the Ocean Institute of Canada (OIC) at the Earth Summit – UN Conference on Environment and Development (UNCED) in Rio de Janeiro, Brazil.
  • The Brundtland Commission, i.e. the World Commission on Environment and Development, provided the inspiration for a global oceans day.
  • The 1987 Brundtland Report noted that the ocean sector lacked a strong voice compared to other sectors.
  • At the first World Oceans Day in 1992, the objectives were to move the oceans from the sidelines to the center of the intergovernmental and NGO discussions and policy and to strengthen the voice of ocean and coastal constituencies worldwide.
  • In 2008, the United Nations General Assembly passed a resolution officially recognising 8th June to be "World Oceans Day", effective 2009, through Resolution 63/111 (paragraph 171).
  • As such, the United Nations Division for Ocean Affairs and the Law of the Sea, Office of Legal Affairs promotes the celebration of this International Day for the United Nations.
  • The theme selected by the United Nations for this United Nations International Day (2019) is "Gender and Oceans".
View Month Wise

AWARDS AND HONOURS

Afloat Awards Night Held at SNC

  •  The first-ever Southern Naval Command (SNC) Afloat Awards Night 2019 (SAFLAN-2019) was held at the naval base to acknowledge the efforts put in by SNC ships to maintain high standards of operational readiness and to inculcate a spirit of competition and desire for excellence.
  • Vice Admiral A.K. Chawla, Flag Officer Commanding-in-Chief of SNC, was the chief guest for the event and presented trophies to the commanding officers of meritorious ships.
  • Eight trophies in categories namely engineering, electrical, aviation proficiency, nuclear biological chemical warfare and damage control (NBCD), hull and ship's husbandry, logistics, best safe practices and innovation were awarded to Indian Naval Ships Tir , Sunayna , Sarvekshak , Sagardhwani , Sudarshini , Jamuna , Kabra , and Nireekshak, respectively.
View Month Wise

GOVERNMENT POLICIES AND SCHEMES

Delhi's Health Scheme

  •  As per Chief Minister Arvind Kejriwal, the Delhi government's umbrella health scheme was "10 times bigger and comprehensive" than the Centre's scheme Ayushman Bharat programme.
  • The Centre-sponsored scheme aims to provide coverage of Rs. 5 lakh per family, annually, supposedly benefitting more than 10.74 crore poor families in relation to secondary and tertiary care hospitalisation through a network of empanelled healthcare providers.
  • Mr. Kejriwal said that the average citizen would be at a loss if the government's health scheme is replaced with Ayushman Bharat.
  • He also sought to draw a comparison between his government's scheme and Ayushman Bharat. Under the Ayushman Bharat there were less than 10% beneficiaries in Delhi while under the AAP government's scheme, every citizen constituting the Capital's population of two crore could be a beneficiary.
View Month Wise

GENDER/ HEALTH/ EDUCATION

Written Tests to Fill Seats in 12 Courses

  •  From courses on business economics to management studies, students applying for 12 undergraduate courses will have to appear for entrance examination beginning June 30.
  • While the entrance exam for nine courses will be conducted by National Testing Agency (NTA) in 2019, the Faculty of Music and Fine Arts will conduct the exam for three courses, BA (Hons) in Hindustani Music, Karnatak Music and Percussion Music.
  • These are specialised courses with high demand. Be it B.Tech or the journalism course, generally, these subjects have an entrance exam everywhere.

Hindu College to Open Doors for Women's Basketball

  •  Being one of the three pioneer Delhi University colleges, Hindu College continues to be on the top of the minds of the aspirants aiming to get a seat in the varsity.
  • Hailed widely for its academic excellence, the college is also known for its sports activities and is now expanding the ambit of sports for all its students.
  • For the first time ever, the college will conduct admissions and trials for women who opt for basketball under the sports quota in 2019.
  • College principal Anju Srivastava said that the institute this year is offering more games to women students at the competitive level.
  • For the first time seats are being offered to girls choosing basketball as a discipline under the sports quota.
  • The move effectively means that the college will get its first women's basketball team.
View Month Wise

TOURISM AND HOTEL INDUSTRY AWARENESS

ITC to Launch Second Super Luxury Hotel

  •  ITC will inaugurate its second super luxury hotel, ITC Royal Bengal. The launch will be done by West Bengal Chief Minister Mamata Banerjee.
  • This property has come up beside ITC Sonar with the two hotels connected by a walkway.
  • The new hotel has 374 rooms and suites and 82 serviced apartments.
  • The new hotel in Kolkata is a part of ITC's expansion plans. 
View Month Wise
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