Daily Current Affairs 2019 | Daily GK Updates : 14 June 2019
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♦Culture Minister, Shri Prahlad Singh Patel, inaugurates the exhibition-‘Astitva: The Essence of Prabhakar Barwe’, in New Delhi
- Shri Prahlad Singh Patel, Minister of State (I/C) of Culture & Tourism, Government of India inaugurated the exhibition titled “Astitva: The Essence of Prabhakar Barwe”, at National Gallery of Modern Art, New Delhi today.
- Highlighting the significance of museums, the Culture Minister said that museums are required ‘to look into our past thereby helping us to move forward in life by learning things from the past’. The Minister also added the museums act as a ‘symbol of respect for our ancestors’. The Minister further added that going to the nature and art, helps us to have a peaceful mind and quell arrogance, for this we also need to respect our art & Gurus.
♦Govt bonanza for 3.6 crore employees; reduces rate of ESI Contribution
- Govt reduces rate of contribution towards ESI scheme from 6.5% to 4% for the first time in over two decades, a post-poll gift to 3.6 crore employees.
- The Employees’ State Insurance Act 1948 (the ESI Act) provides for medical, cash, maternity, disability and dependent benefits to the Insured Persons under the Act.
- The ESI Act is administered by Employees’ State Insurance Corporation (ESIC). Benefits provided under the ESI Act are funded by the contributions made by the employers and the employees.
- Under the ESI Act, employers and employees both contribute their shares respectively. The Government of India through Ministry of Labour and Employment decides the rate of contribution under the ESI Act. Presently, the rate of contribution is fixed at 6.5% of the wages with employers’ share being 4.75% and employees’ share being 1.75%. This rate is in vogue since 01.01.1997.
Financial and Banking
♦FDI flows to India grew 6% to $42 billion in 2018, shows UN report
- Foreign Direct Investment (FDI) to India grew by 6 per cent to $42 billion in 2018, with strong inflows in the manufacturing, communication and financial services sectors, and cross-border merger and acquisition activities, according to a UN report that ranked India among the top 20 host economies for FDI inflows in 2017-18.
- The World Investment Report 2019, released by the UN Conference on Trade and Development (UNCTAD) Wednesday, said global FDI flows slid by 13 per cent in 2018 to $1.3 trillion from $1.5 trillion the previous year the third consecutive annual decline.
Note- About UN
- Secretary general: António Guterres
- Headquarters: New York, New York, United States
- Founded: 24 October 1945, San Francisco, California, United States
♦Yes Bank, ZipCash face RBI fine for violating PPI norms
- The Reserve Bank of India said on Tuesday that it has imposed a penalty on two prepaid payment instrument (PPI) issuers Yes BankNSE -1.75 % and ZipCash Card Services for non-compliance with regulatory norms.
- A penalty of Rs 11.25 lakh each has been imposed on the two PPI issuers, according to an RBI release.
- The penalty was imposed on the two entities through speaking orders dated April 22, 2019, according to the release.
- The penalty was imposed for non-compliance of regulatory guidelines, the release mentioned.
♦IDBI Bank Ltd. enters into standalone health insurance tie-up with Max Bupa
- IDBI Bank Ltd. and Max Bupa, a standalone health insurer (SAHI), signed a Bancassurance corporate agency agreement on June 1, 2019. It is the first time that IDBI Bank has been on-boarded as a corporate agent for a SAHI partner under open architecture.
- As part of the tie-up, Max Bupa will offer its comprehensive health insurance offerings to the diverse customer base of IDBI Bank Ltd. across the country. Through this alliance, Max Bupa will offer a wide range of health insurance products and digital first propositions, tailored for the bank’s 20 million customers spread across its 1800 plus branches pan India.
♦Sahitya Akademi announces Bal, Yuva Puraskar for 2018
- India’s national academy of letters, the Sahitya Akademi, on Friday announced the names of 21 winners of its Bal Sahitya Puraskar and 21 receipients of the Yuva Puraskar for this year.
- The Bal Puraskar awards will be conferred at a function on November 14, which is celebrated as Children’s Day, being the birth anniversary of India’s first Prime Minister, Jawaharlal Nehru. The date for conferring the Yuva Puraskar awards has not been declared yet.
- In the children’s category, awards have been declared for: Jugallochan Das (Assamese), Shirshendu Mukhopadhyay (Bengali), Sitaram Basumatary (Bodo), Easterine Kire (English), Chandrakant Sheth (Gujarati), Divik Ramesh (Hindi), Kanchyani Sharanappa Shivasangappa (Kannada), Zareef Ahmad Zareef (Kashmiri), Kumud Bhiku Naik (Konkani), Vaidya Nath Jha (Maithili), P.K. Gopi (Malayalam), Khangembam Shamungou (Manipuri).
- Also named for the awards are: Ratnakar Matkari (Marathi), Bhim Pradhan (Nepali), Birendra Mohanty (Odia), Tarsem(Punjabi), C.L. Sankhla (Rajasthani), Sampadanand Mishra (Sanskrit), Laxminarayan Hansda (Santali), Kalpana Ashok Chellani (Sindhi), Kriungai Sethupathy (Tamil), Naramshetti Umamaheswar Rao (Telugu) and Rais Siddiqui (Urdu).
♦Casio India announces Tiger Shroff as the G-Shock India brand ambassador
- Casio India, has announced to rope in Bollywood actor Tiger Shroff as the brand ambassador for its popular range of G-Shock watches.
- “The actor perfectly emulates the brand’s values of toughness combined with style and attitude that resonate with the youth of today,” the company said.
♦Centre approves new agency to develop space warfare weapon systems
- The Modi government has approved a proposal to set up a new agency that will develop sophisticated weapon systems and technologies to enhance the capabilities of the armed forces to fight wars in space.
- An official statement by the Defence Ministry said:
- “The Cabinet Committee on Security headed by Prime Minister Narendra Modi has cleared the setting up of this new agency called the Defence Space Research Agency (DSRO), which has been entrusted with the task of creating space warfare weapon systems and technologies.”
- The agency will comprise scientists who will work closely with integrated staff officers of the three armed forces – the Indian Air Force, Army, and the Navy.
♦Kothari’s run ends at Pacific International billiards meet
- Peter Gilchrist, a former multiple world billiards champion from Singapore, brought Sourav Kothari’s run to a halt at the Pacific International snooker billiards championship played at the Yarraville Club here on Friday.
- Kothari had been on a roll from day one in Melbourne, winning the Pacific International snooker championship, a triple crown event in Australia and thereafter went on to display some outstanding billiards en-route the final of the billiards event.
- However, he succumbed to the lethal consistency of Gilchrist and went down rather unceremoniously 706-1500.
♦IAAF to be renamed World Athletics
- The IAAF Council approved the global governing body’s new name and logo at the 217th IAAF Council Meeting in Monaco.
- The athletics body’s new name, ‘World Athletics’, builds upon the organisation’s restructuring and governance reform agenda of the past four years to represent a modern, more creative and positive face for the sport.
- “The hope is that our new brand will help attract and engage a new generation of young people to athletics,” said IAAF President Sebastian Coe. “We have now created a brand that can come to life in the digital world while reflecting the changing nature of the sport. And at the same time bring into focus the athletes, the heroes of our sport.”
♦World Blood Donor Day-14 June
- In India, the need for blood arises every two seconds – it may arise due to surgery, heavy injury, or to treat a life threatening disease which requires blood components. India is the second most populous country in the world and ironically, while there is a need for 4 crore units of blood annually, only 40 lakh units are available. This huge gap can be reduced by donating blood and spreading awareness about blood donation to increase the number of donors.
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