WEEKLY CURRENT AFFAIRS 15-21 NOVEMBER

BANKING AND THE FINANCIAL AWARENESS

MOODY’S INVESTOR SERVICE SLASHED INDIA’S ECONOMIC GROWTH FORECAST TO 5.6%

NOTE-MOODY’S SAYS THAT GOVERNMENT MEASURES DO NOT ADDRESS THE WIDESPREAD WEAKNESSS IN CONSUMTION DEMAND.

MOODY’S HAD ON OCTOBER 10 SLASHED INDIA’S ECONOMIC GROWTH FORECAST FOR 2019-20 FISCAL TO 5.8% FROM AN EARLIER ESTIMATE OF 6.2 PERCENT

2.WHO HAS APPROVED THE MERGER OF THE BNP PARIBAS MUTUAL FUND AND THE BARODA MUTUAL FUND UNDER SECTION 31(1)THE COMPANIES ACT,2002-COMPETETION COMMISION OF INDIA(CCI).

THE PROPOSED COMBINATION RELATES TO THE MERGER BNP PARIBAS MUTUAL FUND AND BOB MUTUAL FUND.
THE PARTIES PROMOTE TO THE AMALGAMATE (i) BOB ASSET MANAGEMENT COMPANY(AMC) INTO THE BNPP AMC AND (ii)BNPP TRUSTEE COMPANY (TC) INTO BOB TC.

3.WHO HAS BEEN PARTNERING WITH ‘FINO PAYMENTS BANK’TO OFFER NON LIFE INSURANCE SOLUTIONS TO ITS CUSTOMERS –ICICI LOMBARD.

ICICI LOMBARD HAS INTRODUCED INNOVATIVE INSURANCE SOLUTIONS THAT COMPLEMENT FINA’S TECHNOLOGY ENABLED PLATFORMS AND HARNESS ITS CUSTOMER REACH.
ICICI LOMBARD AND FINO ALSO LAUNCHED DENGUE AND MALARIA POLICY WHICH COVERS TRETMENT TO DENGUE AND MALARIAL DISEASE UP TO RS 10,000.

4 WHO HAS APPROVED STRICTER DISCLOSURE NORMS FOR LISTED COMPANIES –SECURITIES EXCHANGE BOARD OF INDIA(SEBI)

ACCORDINGLY,IN CASE OF DEFAULT IN REPAYMENT OF LOANS BEYOND 30 DAYS,LISTED COMPANIES WILL HAVE TO DISCLOSE THE FACT OF SUCH DEFAULT WITHIN 24 HOURS.
SEBI HAS AMENDED PORTFOLIO MANAGERS(PM) REGULATIONS,2019 FOLLOWING WHICH NET WORTH REQUIREMENT OF PORTFOLIO MANAGERS HAS BEEN ENHANCED FROM TWO CRORE TO FIVE CRORE RUPEES.

5 THE NATIONAL COUNCIL OF APPLIED ECONOMIC RESEARCH(NCAER) HAS PEGGED INDIA’S GROSS DOMETIC PRODUCT GROWTH FOR 2019-20 AT 4.9%

IT LOWERS ITS OUTLOOK DUE TO THE SLOWDOWN IN ALMOST ALL SECTORS AND IT IS PRIMARILY DRIVEN BY A SIMALTENOUS DECLARATION OF ALL THE DRIVERS OF AGGREGATE DEMAND.

6 THE GOVERNMENT OF INDIA HAS ISSUED FRESH RULES UNDER THE INSOLVENCY AND BANKRUPTCY CODE(IBC) TO GOVERN THE RESCUE OF NON BANK LENDERS

NOTE-

THE NEW RULES ARE LIKELY TO HELP OUT DISTRESSED SHADOW BANKS AND HOUSING FINANCIERS,WHICH HAVE BEEN BATTLING A LIQUIDITY CRUNCH FOR A YEAR.
THESE ENTITIES WILL BE COVERED BY A SPECIAL WINDOW UNDER THE BANKRUPTCY CODE,WHICH WILL BE NOTIFIED FROM TIME TO TIME.

7 WHO HAS SUPERSEDED THE BOARD OF DEBT-LADEN DEWAN HOUSING FINANCE CORPORATION LIMITED(DHFL)-RESERVE BANK OF INDIA

THE COMPANY IS ALL SET TO BECOME INDIA’S FIRST FINANCIER TO LAND UP IN BANKRUPTCY COURTS.
THE CENTRAL BANK SUPERSEDED THE BOARD “OWING TO GOVERNANCE CONCERNS AND DEFAULTS BY DHFL IN MEEETING VARIOUS PAYMENT OBLIGATIONS”

OBITUARIES

FAMOUS INDIAN MATHEMETICIAN PASSED AWAY-VASHISTH NARAYAN SINGH

NOTE

THE 77 YEAR OLD HAD BEEN SUFFERING FROM SCHIZOPHRENIA FOR 40 YEARS.
VASHISTH NARAYAN SINGH WAS FAMOUS FOR HIS EXTRAORDINARY SKILLS OF CALCULATION,CHALLENGED EINSTEIN’S THEORY OF RELATIVITY.

IMPORTANT DAYS

1)NATIONAL PRESS DAY BEING OBSERVED EVERY YEAR ON-16^TH NOVEMBER

NOTE

IT WAS ON THIS DAY THE PRESS COUNCIL OF INDIA STARTED FUNCTIONING AS A MORAL WATCHDOG TO ENSURE THAT THE PRESS MAINTAINS HIGH STANDARDS AND IS NOT FETTERED BY ANY INFLUENCE OR THREAT.

2)INTERNATIONAL DAY FOR TOLERANCE IS OBSERVED BY THE UNITED NATIONS(UN) ALL ACROSS THE WORLD ON-16^TH NOVEMBER.

THIS DAY IS OBSERVED TO EDUCATE THE PUBLIC ON THE ISSUES OF CONCERN,TO MOBILIZE POLITICAL WILL AND RESOURCES TO ADDRESS GLOBAL PROBLEMS AND TO CELEBRATE AND REINFORCE THE ACHIEVEMENTS OF HUMANITY.

3 THE WORLD DAY OF REMEMBRANCE FOR ROAD TRAFFIC VICTIMS OBSERVED EVERY YEAR AS THE APPROPRIATE ACKNOWLEDGEMENT OF VICTIMS OF ROAD TRAFFIC CRASHES AND THEIR FAMILY-17^TH NOVEMBER(3^RD SUNDAY IN NOVEMBER)

NOTE:

THE THEME IS BASED ON PILLAR 3 OF THE GLOBAL PLAN FOR THE DECADE OF ACTION FOR ROAD SAFETY-SAFER VEHICLES.

4 WORLD TOILET DAY IS OBSERVED ACROSS THE WORLD ON-19^TH NOVEMBER

NOTE

THE OBJECTIVE OF THE DAY TO MOTIVATE MILLIONS ACROSS THE WORLD ON ISSUES OF SANITATION
THE THEME FOR 2019 IS”LEAVING NO ONE BEHIND”
IT IS ALL ABOUT INSPIRING ACTION TO TACKLE GLOBAL SANITATION CRISIS AND HELP ACHIEVE SUSTAINABLE DEVELOPMENT GOAL 6,WHICH PROMISES SANITATION FOR ALL WITHIN 2030.

5 QUAMI EKTA WEEK TO BE OBSERVED ACROSS THE COUNTRY FROM 19-25^TH NOVEMBER.

THE WEEK IS OBSERVED TO HIGHLIGHT THE STRENGTH AND RESILIENCE OF THE NATION TO WITHSTAND ANY POTENTIAL THREATS TO THE SECULAR FABRICS.
THESE OCCASIONS WILL ALSO PROVIDE AN OPPURTUNITY TO REAFFIRM AGE-OLD TRADITIONS AND FAITH IN THE VALUES OF TOLERANCE,CO-EXISTENCE,AND BROTHERHOOD IN A MULTI CULTURAL AND MULTI-RELIGIOUS SOCIETY.

6 UNIVERSAL CHILDREN’S DAY IS CELEBRATED ANNUALLY ON-20^TH NOVEMBER

NOTE

THE GOAL OF UNIVERSAL CHILDREN’S DAY IS TO IMPROVE CHILD WELFARE WORLDWIDE,PROMOTE AND CELEBRATE CHILDREN’S RIGHTS AND PROMOTE TOGETHERNESS AND AWARENESS AMONGST ALL CHILDREN.
THE INTERGOVERNENTAL ORGANISATION IS ASKING INDIVIDUALS,SCHOOLS AND CORPORATES WORLDWIDE TO GO BLUE THIS UNIVERSAL CHILDREN’S DAY TO HELP BUILD A WORLD WHERE EVERY CHILD GOES TO SCHOOL AND IS SAFE FROM HARM.

7 AFRICA INDUSTRIALIZATION DAY IS OBSERVED ON 20^TH NOVEMBER

THE THEME OF 2019 IS ‘POSITIONING AFRICAN INDUSTRY TO SUPPLY THE AfCFTA MARKET’.
ON 22^ND MARCH 2018,44 MEMBER STATES OF THE AFRICAN UNION SIGNED THE AGREEMENT ESTABLISHING AN AFRICAN CONTINENTAL FREE TRADE AREA(AfCFTA),THUS CREATING A SINGLE AFRICAN MARKET FOR GOODS AND SERVICES.

8 THE WORLD FISHERIES DAY IS CELEBRATED EVERY YEAR ON-21^ST NOVEMBER

THE DAY HELPS IN HIGHLIGHTING THE CRITICAL IMPORTANCE TO HUMAN LIVES,OF WATER AND THE LIVES IT SUSTAINS,BOTH IN AND OUT OF THE WATER.
THIS YEAR’S THEME IS 2022 KA HAI SAPNA KISAN KA AAY HO DUGNA-‘SANKALP SE SIDDHI’

9 WORLD TELEVISION DAY IS OBSERVED ON-21^ST NOVEMBER.

NOTE:

UNITED NATIONS PROCLAIMED 21^ST NOVEMBER AS WORLD TELEVISION DAY COMMEMORATING THE DATE ON WHICH THE FIRST WORLD TELEVISION FORUM WAS HELD IN 1996.
THE DAY RECOGNIZES THAT TELEVISION PLAYS A BIG ROLE IN PRESENTING THE DIFFERENT ISSUE THAT AFFECTS PEOPLE.

10 THE WORLD PHILOSOPHY DAY 2019 WAS PROCLAIMED BY UNESCO TO BE CELEBRATED EVERY 3^RD THURSDAY OF NOVEMBER.

IT WAS FIRST CELEBRATED ON 21 NOVEMBER 2002.
THE 2019 EDITION AIMS TO HIGHLIGHT THE IMPORTANCE OF PHILOSOPHY IN DIFFERENT REGIONAL CONTEXTS.

NEW APPOINTMENTS

WHO TOOK CHARGE AS THE MINISTRY OF HEAVY INDUSTRIES AND PUBLIC ENTERPRISE-PRAKASH JAVADEKAR

NOTE

HE ALSO HOLDS INFORMATION & BROADCASTING,AND ENVIRONMENT,FOREST AND CLIMATE CHANGE PORTFOLIOS.
EARLIER SENA LEADER ARVIND SAWANT RESIGNED FROM THE UNION CABINET.

WHO HAS BEEN APPOINTED AS THE FIRST WOMAN CHIEF SECRETARY OF ANDHRA PRADESH-NILAM SAWHNEY

NOTE

THE APPOINTMENTS COMMITTEE OF THE CABINET, GOVERNMENT OF INDIA APPROVED HER APPOINTMENT ON NOVEMBER 13^TH,2019.
SHE WILL REPLACE NEERAV KUMAR,WHO HAS BEEN HOLDING ADDITIONAL CHARGE AS THE CS,FOLLOWING THE SUDDEN TRANSFER OF LV SUBRAMANYAM,A WEEK AGO.

3.WHO SWORN IN AS THE 47^TH CHIEF JUSTICE OF THE SUPREME COURT OF INDIA-JUSTICE SHARAD ARVIND BOBDE

JUSTICE SA BOBDE SUCCEDS CHIEF JUSTICE RANJAN GOGOI.
JUSTICE BOBDE WAS BORN IN NAGPUR(MAHARASHTRA) AND IS THE SON OF ARVIND SRINIWAS BOBDE,AN EMINENT SENIOR ADVOCATE.

WHO HAS BEEN SWORN IN AS NEW PRESIDENT OF SRI LANKA-GOTABAYA RAJAPAKASA.

NOTE

HE WILL SUCCED PRESIDENT MAITHIRIPALA SIRISENA FOR A FIVE YEAR TERM
RAJAPAKASA SECURED 52.25% VOTES WHILE SAJITH PREMADASA RECEIVED 41.99% VOTES.
GOTHABAYA IS THE YOUNGER BROTHER OF FORMER PRESIDENT(FROM 2005 TO 2015)MAHINDRA RAJAPAKSA AND SERVED AS DEFENCE SECRETARYU DURING THE END OF LTTE WAR.