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Current Affairs 5th July 2019 & Daily GK Update

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Current Affairs 4th July 2019 & Daily GK Update

1. Airtel Payments Bank to sell Bharti AXA Life’s term insurance

Airtel Payments Bank has partnered with Bharti AXA Life Insurance to offer a life term insurance plan. The bank will offer the plan through its extensive network of banking points across the country.

The product, Bharti AXA Life (Point of Sale) Saral Jeevan Bima Yojana, is a pure life term insurance plan which is aimed at the under insured and uninsured segments in India.

Daily GK Updates for SBI Clerk Online Classes:

  • MD & CEO of Bharti AXA Life Insurance:Vikas Seth.
  • MD & CEO of Airtel Payments Bank:Anubrata Biswas.

2. ‘Vasool So-Ft’ launched to digitize NPA recovery process

Karnataka Bank Ltd has launched the web tool ‘Vasool So-Ft’ (Vasool So-Fast) for digitalising the Non Performing Asset recovery process of the bank.

The digital tool for the recovery of stressed assets will provide an end to end digital solution. It will enable easy and faster processing, real time information and immediate decision making in the recovery area.

3. First ‘Aadhaar Seva Kendra’ in Delhi and Vijayawada

Unique Identification Authority of India has opened its first ‘Aadhaar Seva Kendra’ in Delhi and Vijayawada.  The Aadhaar card issuing authority has an ambitious plan to set up 114 such centres by the year end.

These centres will provide the facility to apply for a new Aadhaar card or update the existing ones. These centres are similar to Passport Seva Kendras run by the Ministry of External Affairs.

Daily GK Updates for IBPS Clerk Online Classes:

  • CEO of UIDAI: Ajay Bhushan Pandey; Founded: 12 July, 2016.

 

  • MD & CEO of Karnataka Bank Ltd:Mahabaleshwara MS; Headquarters: Mangaluru.

 

4. AYUSH, MeitY ministries collaborates for digitisation of AYUSH sector

The Ministries of AYUSH and Electronics and Information Technology have signed a MoU to collaborate on the digitization of the AYUSH sector.

The ministry aims to digitize the entire AYUSH, leading to transformation in the field of health care delivery at all levels, along with greater research, education, delivery of various health care programmes and better drug regulations.

Daily GK Updates for IBPS PO Online Classes:

  • Minister of State (Independent charge) of AYUSH Ministry: Shripad Yesso Naik.
  • Minister of Communications and Information Technology: Ravi Shankar Prasad.

 

5. Delhi Police signs pact with SECI for rooftop solar energy systems

Delhi Police has signed a pact with Solar Energy Corporation of India. Under this, the  SECI will support the implementation of grid-connected rooftop solar photovoltaic systems on the establishments of Delhi police.

The Delhi police will set up rooftop solar energy systems in over 200 of its buildings across the city.

Daily GK Updates for IBPS RRB Online Classes:

  • Chairman of SECI: Praveen Kumar.

 

6. Ajay Banga, Azim Premji to receive excellence awards from USISPF

The US-India Strategic Partnership Forum has announced that Mastercard CEO and PresidentAjay Banga and Wipro Chairman Azim Premjiwill receive the 2019 Global Excellence Awards. This is the Second Annual Leadership Summit of USISPF.

They have been honored with the awards for their significant contribution to strengthening economic ties between the US and India.

 

7. Union Budget 2019-20: Important Highlights

The highlights of Union Budget 2019 is very significant from the examination point of view. Questions from Union Budget are being asked in the General/Economy/Financial awareness section of almost all the examinations from the past couple of years.

Finance Minister Nirmala Sitharaman presented the maiden budget of Narendra Modi 2.0 government in Lok Sabha. It is a tight rope walk for India’s first full-time woman Finance Minister who has to contain the fiscal deficit target, and lay the roadmap for the ambitious $5-trillion-dollar economy dream of Prime Minister.

Daily GK Updates for IBPS Clerk Online Classes:

On the Urban Sector- 

Over 81 lakh houses at the investment of Rs 4.83 lakh crore have been sanctioned and construction has started in about 41 lakh houses, under PMAY-Urban. More than 95% of all cities have declared themselves open defecation free.

Rashtriya Swachchta Kendra to be inaugurated at Gandhi Darshan on October 2, 2019.

Metro Rail initiatives to be enhanced by encouraging PPPs and faster completion. Dedicated freight corridor is almost complete.

On Agriculture Sector- 

Govt to support private entrepreneurs in agriculture. The Minister says the government will focus more on agricultural infrastructure.

“Ease of doing business and ease of living should apply to farmers.” She proposes zero-budget farming, as a model for farmers. “Steps such as this can help doubling farmers income.”

Zero-Budget farming is natural farming which is neither chemical-loaded nor organic with its reliance on manure.  It’s a form of gardening as a self-sustainable practice with minimum external intervention. This concept of zero budget natural farming (ZBNF) was first propagated 25 years ago by Subhash Palekar as a movement for farmers who were in debt due to the Green Revolution and is now being used by a large number of farmers across the country.

Jal Shakti Ministry was created by integrating many water management ministries. To all rural households by 2024, water will be supplied. Govt will explore additional funds for Jal Shakti by accessing the Compensatory Afforestation Fund Management and Planning Authority fund.

9.6 crore toilets have been constructed till now. More than 5.6 lakh villages have become open-defecation free. She proposes to expand Swachch Bharat to solid waste management in every village.

Over 2 crore rural Indians have been made digitally literate.

On the Rural Sector-

The Minister moves on to the rural portion of the Budget. “Gaon, Gareeb aur Kisan at the centre of all our policies.”

“All villages and almost 100% of houses have been provided with electricity.” She asssures that by 2022 every single rural family, except those who are unwilling to take the connection, will have electricity and clean cooking gas.

The completion of houses has come down from 314 days per house in 2015-16 to 114 days now, she says.

The Department of Fisheries will establish a fisheries management network, says the Minister. She says the government’s rural road scheme has brought about socio-economic improvements. “All-weather connectivity has now been provided to over 97% of such habitations.” 30,000 km of roads in this cheme have been built using green technology, she says.

Under phase three of PM Gram Sadak Yojana, 1.25 lakh kms of the road to be built in the next five years. Project cost estimated at over Rs 80,000 crore.

For Investments and Markets- 

Investment by FIIs and FDIs in debt securities in infrastructure debt funds to be allowed.  Minimum public shareholding in listed companies can be increased from 25% to 35%, says the Minister, saying this is being considered.

A social stock exchange is proposed, for social and voluntary organisations, to raise capital, equity and debt.

Global FDIs fell to $1.3 billion from $1.5 trillion, but inflows in India remained strong at $54.37 billion, a growth of 6%.

“100% FDI for insurance intermediaries. Local sourcing norms to be eased for FDI in single-brand retail.”

 

Global Investors Meet to happen in India. Limit on FPI in a company increased to 24%. NRI investment in Indian capital markets is comparatively less. NRI investment to merged with FPIs.

For Transport Sector- 

She then goes on to cite the government’s transport infrastructure schemes such as Sagar Mala, UDAN etc. “This government has given a massive push to all forms of physical connectivity. The time is right for India to enter into aircraft financing, critical for a self-reliant aviation industry.”

“Government will do a restructuring of the national highway programme. In the second phase of Bharat Mala, States will be helped to develop State highways.”

“Government envisions using rivers for cargo transport.”

The Minister proposes ₹50 lakh crore investment for Railway infrastructure between 2018 and 2030,  and using public-private partnerships unleash faster development, completion of tracks, passenger freight services.

“Recommendations of high-level committee on retiring old power plants, and addressing the under-utlilisation of power plants will be taken up now. A package for power sector tariffs and reforms will be announced soon.”

For MSMEs- 

The Minister proposes a modern tenancy law. Loans of upto ₹1 crore to be given to MSMEs for ease of access.

 

8. Ola gets green light for London taxi business

India’s biggest ride-hailing platform Ola Cabs,has received approval from London’s transport regulator to start private hire vehicles (PHV) in the capital city of the UK. Ola will be the first ever platform to offer both PHVs and black cabs in the UK.

Daily GK Updates for SBI Clerk Online Classes:

  • CEO of OLA: Bhavish Aggarwal; Headquarters: Bengaluru.

 

9. Arjen Robben announces retirement from football

Dutch winger Arjen Robben has announced his retirement from football at the age of 35 after a 10-year spell with German giants Bayern Munich. He has played 96 international matches for the Netherlands, scoring 37 goals, and starred in the team which reached the 2010 World Cup final.

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