Current Affairs | Daily GK Updates : 20 April 2019
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Current Affairs (National)
♦ State TB cell mulls MoU with India Post to transport samples
- The State TB Cell officials are mulling signing a Memorandum of Understanding (MoU) with the postal department to transport sputum samples from Primary Health Centres to Cartridge Based Nucleic Acid Amplification Testing (CBNAAT) laboratories in district headquarters.
- The move aims to reduce the time taken to test samples for Multi-Drug Resistant TB (MDR TB). If MDR TB goes undetected, the patient might spread the disease to others.
♦ Meet Rubana Huq, the first woman chief of a ‘men’s club’
- Endless bouquets, endless food and endless photo opportunities. These are the words that Rubana Huq uses to define how congratulatory messages have occupied a big part of her life. Social media was set ablaze with felicitations after Ms. Huq was elected the first woman president of the influential garment makers’ association in 36 years of its history.
- The time since the election on April 6 has been overwhelming for Ms. Huq, managing director of Dhaka-based Mohammadi Group. To walk into her offices on the 10th floor of Lotus Kamal Tower is to encounter a buzzing horde of people waiting with bouquets to greet her.
Banking and Finance
♦ Exim Bank funds projects worth USD 267 mn in Rawanda
- The Reserve Bank of India (RBI) Thursday said Exim Bank has provided soft loans of USD 266.60 million to Rawanda for various projects.
- The funding, done in three separate tranches to Rawanda, is to support agricultural projects, development of special economic zones (SEZs) and for financing road project in the African nation.
- According to the agreements, Exim Bank will provide USD 100 million for financing the development of two SEZs and expansion of the Kigali SEZ in Rwanda; USD 100 million for financing three agriculture project schemes — Warufu Multipurpose Project, Mugesera Irrigation Project and Nyamukana Irrigation Project.
- While USD 66.60 million will be funded for the Base-Butaro-Kidaho Road Project.
- All the three funding project agreements between Exim Bank and the Government of Rawanda have come to effect from April 2, RBI said.
♦ Tata Technologies joins hands with China’s FutureMove Automotive
- Tata Technologies Friday said it has inked a pact with China’s FutureMove Automotive to develop connected mobility solutions for automotive manufacturers in China and other markets.
- The companies signed a memorandum of understanding on the sidelines of the Shanghai Motor Show 2019.
- “The relationship with FutureMove will combine Tata Technologies’ market-leading connected car service offerings with the platform and technology of FutureMove to provide a suite of services to the Chinese automotive industry,” Tata Technologies Chief Executive Officer and Managing Director Warren Harris said in a statement.
- Tata Technologies has strong capabilities in delivering end-to-end vehicle programmes. With over 9,000 professionals, the company serves clients in 27 countries from its 17 global delivery centres across Asia-Pacific, Europe, and North America.
♦ Japan-US 2+2 welcomes growing ties with India
- The US-Japan 2+2 ministerial meeting has welcomed the growing ties between their countries and India in the Indo-Pacific region that is of vital strategic interest to them.
- The defence and diplomatic cabinet officials of the two countries expressed satisfaction on Friday with the trilateral meeting with India and noted significance of joint military exercises, the State Department said in a statement.
- US Secretary of State Mike Pompeo and Acting Defence Secretary Patrick Shanahan met on Friday with Japan’s Foreign Minister Taro Kono and Defence Minister Takeshi Iwaya for their high-level strategic meeting focused on building a free and open Indo-Pacific.
♦ Banking system faces Rs 70,000 crore liquidity deficit
- Muted government spending and high election-related spending have created a liquidity deficit of Rs 70,000 crore in the banking system, stymieing the Reserve Bank of India’s record liquidity infusion via bond purchases and the innovative dollar-rupee swap, blunting the recent rate cut and clogging the efficacy of policy transmission.
- “System liquidity seems to be slightly more in deficit that is normal at this time of the year,” said Saugata Bhattacharya, chief economist at Axis Bank. “The proximate reason seems to be relatively high government balances with RBI, which might be due to lower spends. Other contributing factors might be higher cash withdrawal, weaker foreign exchange inflows and higher CRR (cash reserve ratio) balances of banks,” he said.
- The deficit is at Rs 70,266 crore on April 16 compared to Rs 31,396 crore on April 3, data from the Bloomberg India Banking Liquidity gauge showed.
♦ Hamied elected Honorary Fellow of Royal Society
- Cipla chairman Yusuf Hamied has been elected an Honorary Fellow of the Royal Society, U.K. for his service to the cause of science. Dr. Hamied graduated with honours from Cambridge University in 1957 and continued a Ph.D in 1960 under the tutelage of Nobel Laureate Alexander Todd.
- The Society is a Fellowship of the world’s most eminent scientists and is the oldest scientific academy in continuous existence. The Fellows are elected for life through a peer review process.
♦ Navy chief launches new guided missile destroyer ‘INS Imphal’
- Navy chief Admiral Sunil Lanba Saturday launched the third ship of Project 15B, a guided missile destroyer Imphal, at Mazagon Dock Shipbuilders, Mumbai. The launch marks yet another significant milestone in the annals of the indigenous warship design and construction programme of India.
- With a launch weight of 3,037 tonnes, the vessel made its first contact with water with full fanfare during the launching ceremony.
♦ India And France To Hold Their Largest Naval Exercise ‘VARUNA’ Powered By Aircraft Carriers, Jets And Destroyers
- Elevating their military ties, India and France are all set to hold their largest ever naval exercise earlier next month (May 2019).
- The said exercise is expected to involve aircraft carriers, destroyer ships, submarines and also fighter planes, thus making it a mega event to happen in the history of relationship between the two nations.
- The conduct of Varuna exercise, and the special impetus on taking this Navy-to-Navy cooperative engagement forward, was reiterated in the Joint Statement made by the Prime Minister of India and the President of France, on the 10th of March 2018.
- The two countries will be deploying their aircraft carriers INS Vikramaditya and FNS Charles de gaulle with their Mig-29K and Rafale-M naval fighter jets. The exercise has been christened ‘Varuna’ and will take place off Goa and Karwar from 1 May 2019.
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