WEEKLY CURRENT AFFAIRS 1-8TH DECEMBER

WEEKLY CURRENT AFFAIRS

RBI keeps repo rate unchanged at 5.15% in 5^th bi-monthly monetary policy

In its 5^th bi-monthly monetary policy committee meeting,the Reserve Bank Of India has decided to keep the policy repo rate unchanged at 5.15%.
The MPC has also decided to maintain the accommodative stance of monetary policy to revive growth, while ensuring that inflation remains within the target.
The main decisions taken in the 5^th Bi-monthly monetary policy committee meeting are:
The repo rate under the Liquidity Adjustment Facility (LAF) left unchanged to 5.15%.
The reverse repo rate under the LAF stands same i.e. 4.90%.
The Marginal Standing Facility rate and the bank rate also remains same i.e 5.40%.
RBI has also reduced the real GDP growth for 2019-20 from 6.1% to 5%.

RBI releases “Guidelines for ‘on tap’ Licensing of small finance banks in the private sector.

The Reserve Bank of India released guidelines for ‘on tap’ Licensing of Small finance banks in the private sector.
Now payments banks willing to convert themselves into small finance banks can apply for such a license only after 5 years of operations.
Existing payments banks(PBs), which are controlled by residents and have completed five years of operations, are also eligible for conversion into small finance banks can apply for such a license only after 5 years of operations.
Existing payments banks, which are controlled by residents and have completed five years of operations, are also eligible for conversion into small finance banks after complying with all legal and regulatory requirements of various authorities and if they conform to these guidelines.
The licensing window will be open on tap.The minimum capital for setting up an SFB has been mandated at rupees 200 crores, adding for primary (urban) co-operative banks (UCBs),which wish to become SFBs, the initial requirement of net worth will be rupees 100 crores, which will have to be increased to 200 crores within 5 years from the date of commencement of the business.
SFBs will be given scheduled bank status immediately upon commencement of operations.

NEFT transactions to be made 24×7 from December 16

The Reserve Bank of India announced round-the-clock transactions will be allowed 24×7 facility under the National Electronic Funds Transfer(NEFT) system on all days including weekends and holidays from December 16.
These transactions after the usual banking hours are set be automated initiated using ‘Straight Through Processing’ modes by the banks.
The existing discipline for crediting the beneficiary’s account or returning the transaction within 2 hours of settlement to the originating bank will also continue.
Member banks are also advised to initiate necessary action and ensure availability of all necessary infrastructural requirements at their end for providing seamless NEFT 24×7 facility to their customers.

India becomes 1^st country to make entire Haj process Digital

India has become 1^st country to make the entire process for pilgrims going for Haj completely digital.
An online application,e-visa, Haj Mobile app, ‘e-MASIHA’ health facility, “e-luggage pretagging” providing all information in India itself regarding accommodation and transportation in Mecca and Madina will be provided to 2 lakh Indian Muslims going for Haj in 2020.
Minority Affairs Minister Mukhtar Abbas Naqvi signed the bilateral Haj 2020 agreement between India and Saudi Arabia with Haj and Umrah minister of Saudi Arabia.

Nationwide vaccination drive launched under Mission Indradhanush 2.0

The centre is launching a nationwide vaccination drive to prevent eight diseases under Intensified Mission Indradhanush 2.0 across the country.
The government’s flagship scheme is aimed at immunizing children under the age of 2 years and pregnant women 8 vaccine-preventable diseases.
The IMI covers vaccines for diphtheria, whopping cough, tetanus, poliomyelitis,tuberculosis,measles, meningitis and Hepatitis b. vaccines for Japanese Encephalitis and Homophilus influenza. Are also being provided in selected areas.
The IMI 2.0 aims to achieve targets of full immunization coverage in 272 districts spread over 27 states. The IMI 2.0 will be carried out between December 2019 and March 2020.

Vice President M. Venkaiah Naidu launches Bharatiya POSHAN Anthem

Vice President M Venkaiah Naidu launched the ‘Bharatiya Poshan Anthem’ in New Delhi.
The aims towards taking the message of making India malnutrition free to all corners of the country.
The anthem was conceptualized by Union Ministry of women and child development (MoWCD) and has been penned by noted lyricist Prasoon Joshi and sung by Shankar Mahadevan.

National Affairs

Hallmarking of Gold jewellery and artefacts will be made mandatory across the country from January 15, 2021. The step aims to ensure the purity of precious metal.
Public sector trading firm MMTC has ordered imports of 11,000 metric tones of onions from Turkey.
The Election Commision of India will implement the political parties Registration Tracking Management System(RTMS).
Union HRD Minister Ramesh Pokhriyal ‘Nishank’ and Minister of state for Youth Affairs & sports Kiren Rijiju has jointly launched the Fit India School Rating System.
The central government launched the National Clean Air Programme(NCAP) as a long-term, time-bound, national-level strategy to tackle the air pollution problem across the country in a comprehensive manner.

States in the news

Ministry of Information and Broadcasting is organizing a “Multi media exhibition” at world war 2 museum,Kisama in Nagaland.
President Ram Nath Kovind and Prime Minister Narendra Modi greeted the people of Nagaland on its 57^th statehood day on 1^st December 2019.
The 20^th edition of Hornbill festival began with a colourful blend of culture and tradition with a modern twist at Naga Heritage Kisama in Nagaland.
Donyi Polo cultural and charitable trust and Indigenous Faith and Cultural Society of Arunachal Pradesh celebrated ‘Indigenous Faith Day’ on 1^st
Uttar Pradesh government has decided to provide 25 percent subsidy and 100 percent stamp duty waiver for setting up the defense industry in the state.
Odisha chief Minister Naveen Patnaik has launched ‘Madhu’ app.It is an e-learning mobile phone application which will help school students to understand their subjects in a better and most efficient way. The app is named after ‘Utkal Gourab’ Madhusudan Das.
Union Minister for Jal shakti Gajendra Singh Shekhawat and Uttarakhand Chief Minister Trivendra Singh Rawat inaugurated the 14 MLD Sewage Treatment Plant(STP) in Sarai village near Haridwar in the presence of Sweden’s King Carl XVI Gustaf and Queen Silvia.
The Union Minister for food processing inaugurated Avanti mega Food Park in Dewas, Madhya Pradesh.

International Affairs

The G 20 Presidency has been taken over by Saudi Arabia from Japan. Saudi Arabia has become the 1^st Arab nation to assume the G20 Mpresidency.
Iraqi Prime Minister Adel Abdul Mehdi has submitted his resignation to parliament amid on-going anti-government protests across the country.
The Global Migration Film Festival was organized in Dhaka, Bangladesh. The festival screened 15 films on the theme of “migration and its various aspects”.
The National Assembly of Republic of Mauritius has unanimously elected Prithvirajsing Roopun, as new president of the island nation, a largely ceremonial post.

Schemes and committees

The government has launched a drive to enroll one crore beneficiaries under the Pradhan Mantri Shram Yogi Mandhan and the national pension scheme for Traders and self employed persons(NPS-Traders) by March next year.
Walmart India, in partnership with HDFC Bank, launched a co-branded credit card exclusively for members of its Best Price Modern Wholesale “B2B Cash & Carry” stores, offering “free credit up to 50 days.
The National Investment and Infrastructure Fund (NIIF) of India and Canada Pension Plan Investment Board (CPPIB) have agreed for CPPIB to invest up to $600 million through the NIIF Master Fund.
The Online trucking platform BlackBuck has partnered with private lenders IDFC Bank and Yes Bank to provide FASTags to truck owners free of cost.
The ties between India and Bangladesh transcend the strategic partnership. The multidimensional relationship between the two countries covers not only traditional areas like trade, commerce,.security and border management but also new areas such as IT, space and nuclear science among others.
Investor Education & Protection Fund Authority (IEPFA) works under the Ministry of Corporate Affairs, has signed a Memorandum of Understanding (MOU) with Bank of Baroda (BoB) to spread customer awareness and investor education and reaching out to investors and stakeholders.

Agreements/MoUs signed

The Asian Development Bank(ADB) has agreed to advance a loan of US Dollar 206 million to develop water supply and sewerage infrastructure in Tiruchi and other cities in Tamil Nadu.
The International Finance Corporation (IFC), a unit of the World Bank Group, has anchored an investment round of $200million in Mahindra & Mahindra Financial Services Limited (MMFSL).
Karnataka Vikas Grameena Bank (KVGB) and Canara, HSBC, Oriental Bank of Commerce, Life Insurance Company Ltd. signed an MoU for bancassurance (for selling life insurance products through the branches of KVGB).
The country’s foreign exchange reserves crossed the $450-billion mark for the first time ever on the back of strong inflows which enabled the central bank to buy dollars from the market, thus checking any sharp appreciation of the rupee.
HDFC ERGO general insurance company, India’s third-largest non-life insurance provider in the private sector, has launched “my: health Woman Suraksha policy”, a comprehensive medical insurance scheme”, specially designed for women.

Appointments/Resignation

Soma Roy Burman has assumed the charge of new Controller General of Accounts (CGA). She is the 24th CGA and the seventh woman to hold this coveted position.
Lt Gen Podali Shankar Rajeshwar took over as the 14th Commander-in-Chief of the Andaman & Nicobar Command (CINCAN).
Hari Mohan has taken over the charge as Chairman, Ordnance Factory Board (OFB). He will replace Saurabh Kumar who superannuated from the services.
The Asian Development Bank (ADB) board has unanimously elected Masatsugu Asakawa as its new president
English author Tony Joseph has won the 12th ‘Shakti Bhatt First Book Prize’. He was awarded for his 2018 book, “Early Indians: The Story of Our Ancestors and Where We Came From“.
Barcelona forward Lionel Messi has won the Ballon d’Or award for the world’s best player for a record 6th time
The Mumbai Central station of Railways was conferred with the ‘Eat Right Station’ certification with four stars rating by the Food Safety and Standards Authority of India (FSSAI), as a part of ‘Eat Right India’ movement launched last year. The Mumbai Central Railway Station is the country’s first “Eat Right Station.”
Arun Jaitley former Finance Minister of India was bestowed with the Economic Times (ET) Lifetime Achievement Award for Public Service 2019.
Joker’ fame Joaquin Rafael Phoenix, American actor from California, United States (US) has been bestowed with the PETA (People for the Ethical Treatment of Animals) ‘Person of the Year’ Award 2019.
The New Zealand cricket team has been awarded the Christopher Martin-Jenkins Spirit of Cricket award.

Defence News

The 7th edition of India-Sri Lanka joint exercise “MITRA SHAKTI” begins at Aundh Military Station, Pune.
India successfully test-fired its indigenously developed surface-to-surface nuclear-capable Prithvi-II missile off Odisha coast.
The 8th India-China joint training exercise ‘HAND-IN-HAND 2019’ with the theme counter-terrorism under United Nations mandate is scheduled to be conducted at Umroi, Meghalaya from 07 to 20 December 2019.
Exercise INDRA 2019 a joint, tri-services exercise between India and Russia will be conducted in India from 10-19 December 2019 simultaneously at Babina (near Jhansi), Pune, and Goa.

Awards And Recognitions

The Ministry of Environment gave away awards for a short film competition on the environment. Several school students and professionals were awarded prizes for their documentaries and films by Ravi Agrawal, Additional Secretary, Ministry of Environment at the ceremony organised by the ministry and Centre for Media Studies (CMS).
English author Tony Joseph has won the 12th ‘Shakti Bhatt First Book Prize’. He was awarded for his 2018 book, “Early Indians: The Story of Our Ancestors and Where We Came From“.
Barcelona forward Lionel Messi has won the Ballon d’Or award for the world’s best player for a record 6th time.
The Mumbai Central station of Railways was conferred with the ‘Eat Right Station’ certification with four stars rating by the Food Safety and Standards Authority of India (FSSAI), as a part of ‘Eat Right India’ movement launched last year. The Mumbai Central Railway Station is the country’s first “Eat Right Station.”
Arun Jaitley former Finance Minister of India was bestowed with the Economic Times (ET) Lifetime Achievement Award for Public Service 2019.
Joker’ fame Joaquin Rafael Phoenix, American actor from California, United States (US) has been bestowed with the PETA (People for the Ethical Treatment of Animals) ‘Person of the Year’ Award 2019.
The New Zealand cricket team has been awarded the Christopher Martin-Jenkins Spirit of Cricket award.
Bollywood actor Shilpa Shetty’s fitness app “Shilpa Shetty App” has been awarded Google Play’s Best Apps of 2019. The app was awarded in the category of ‘Personal Growth’
President of India conferred 36 awardees with the National Florence Nightingale Awards 2019 at an event in Vigyan Bhawan, New Delhi. The award was given to Late Lini Sajeesh from Kozhikode, Kerala, who died while on duty caring for a Nipah (NiV) virus infected patient in Kerala. Summit and Conference.

Summit And Conference

Defence Minister addresses the Armed Forces Flag Day-CSR Conclave in New Delhi.
The government has launched the 4th round of Regional Connectivity Scheme – UDAN (Ude Desh Ka Aam Nagrik) to further enhance the connectivity to remote and regional areas of the country.
Chief of the Air Staff of India is participating in the Pacific Air Chiefs’ Symposium 2019 (PACS 2019) at Joint Base Pearl Harbor Hickam, Hawaii. The theme for this year’s symposium is ‘A Collaborative Approach to Regional Security’.
The United Kingdom(UK) hosted two days organised 2019 NATO (North Atlantic Treaty Organization) Summit in London.
Commerce and Industry Minister inaugurated the 3rd edition of National Public Procurement Conclave in New Delhi.

Ranks and Reports

The Comptroller and Auditor General’s report stated that the railways recorded an operating ratio of 98.44% in 2017-18. The above operating ratio was the worst in the last 10 years. Operating ratio is a measure of expenditure against the revenue.
Aberdeen Police station in the Andaman and Nicobar Islands ranks 1st in the list of the best-performing police stations in the country while dealing with a property offence, a crime against women and weaker sections.

Sports News

Mercedes racer Lewis Hamilton has won the Abu Dhabi Grand Prix held in Abu Dhabi, UAE.
The 13th edition of South Asian Games has officially kicked off after the opening ceremony at Dasharath Stadium in Kathmandu, Nepal.
Star wrestlers Vinesh Phogat and Sakshi Malik registered convincing wins in the finals to claim gold medals at the Senior Wrestling National Championships in Jalandhar, Punjab.

Important News

World AIDS Day, designated on 01st December every year. The theme of this year’s World AIDS Day is “Communities make the difference”
The United Nations observes International Day for the Abolition of Slavery on 2nd of December every year.
International Day of Persons with Disabilities is being observed on the 3rd of December every year. The theme this year is – Promoting the Participation of Persons with Disabilities and their leadership: Taking Action on the 2030 Development Agenda.
The International Volunteer Day (IVD) is observed across the world on 5 December every year. This year theme is ” Volunteer for an inclusive future”.
World Soil Day is celebrated annually on the 5th of December at the Food and Agriculture Organization of the United Nations (FAO) headquarters in Rome, Italy.
The United Nations General Assembly officially recognized 7 December as International Civil Aviation Day globally. The theme of this year Civil Aviation Day is “75 Years of Connecting the World”.

Obituaries

Former Hollywood actress Shelley Morrison passed away recently.
Baskar Menon, Veteran Journalist in the Press Trust of India (PTI) passes away.

Miscellaneous News

Minister of State for Human Resource Development Sanjay Dhotre inaugurated the India Pavilion at International Book Fair in Guadaljara, Mexico. India is the ‘Guest of Honour Country’ in book fair and becomes the first Asian country to participate as ‘Guest of Honour’ in the Fair. This fair is the biggest book fair in the Spanish-speaking world.
Prime Minister Narendra Modi extended greetings to Border Security Force (BSF) personnel on the organization’s 55th raising day (01st December 2019).
The 35th anniversary of Bhopal Gas Tragedy is being observed across the country. It is one of the world’s worst industrial disaster that claimed thousands of lives on the night of December 2, 1984.
Vice President M Venkaiah Naidu launched the new Rotavirus vaccine: ROTAVAC-5D designed and developed by Bharat Biotech in New Delhi.
Government of India (GoI) & Portugal has decided to cooperate in the setting up of an India’s 1st National Maritime Heritage Museum at the ancient Indian site of Lothal in Gujarat with the aim to boost the underwater or marine archaeology.
Tennis legend Roger Federer will become the first living person in Switzerland to have a coin minted in his honour. The Federal Mint, Swissmint, has created a 20-franc silver coin bearing Federer’s image.
The nation is paying homage to Bharat Ratna Dr BR Ambedkar on his 64th Mahaparinirvan Diwas (death anniversary) on 6 December.
Jammu and Kashmir Government has approved the Leave Travel Concession (LTC) in favour of its employees.
Ripu Daman Bevli was appointed as Plogging Ambassador of India by Kiren Rijiju, Minister of State for Youth Affairs and Sports (MYAS) on the 50th Fit India Plogging Run held in Delhi’s Jawaharlal Nehru Stadium.

Static Takeaways

Barham Salih is the current President of Iraq
Baghdad is the capital of Iraq
The Iraqi dinar is the currency of Iraq
Nagaland CM: Neiphiu Rio, Governor: Shri R. N. Ravi.
Headquarters of United Nations: New York, USA; Founded: 24 October 1945.
Secretary-General of the United Nations: Antonio Guterres.
Chief of International Organisation of Migrants (IOM) in Bangladesh: Giorgi Gigouri.
IOM is the UN migration agency established in 1951
Chief Minister of Nagaland: Neiphiu Rio; Governor of Nagaland: R N Ravi.
Chief Minister of Arunachal Pradesh: Pema Khandu.
Governor of Arunachal Pradesh: B. D. Mishra.
Ordnance Factory Board Founded: 1712.
Ordnance Factory Board Headquarters: Kolkata, West Bengal.
Defence Minister of India: Rajnath Singh
President of Nepal: Bidya Devi Bhandari
Vice President: Nanda Bahadur Pun.
Prime Minister of Nepal: KP Sharma Oli
Sunil Arora is the Chief Election Commissioner of India
The Prime Minister of Mauritius: Pravind Kumar Jugnauth.
UP Present CM: Yogi Adityanath, Governor: Anandiben Patel.
ADB established: 1966, ADB is owned by 68 members.
Google established: 4 September 1998; Headquarters: Mountain View, California, United States.
Country Director of ADB’s India Resident Mission: Kenichi Yokoyama.