Current Affairs 2019 | Daily GK Updates : 20 September 2019 Daily Current Affairs 2019:

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National (Current Affairs)

♦’Telangana to celebrate 2020 as Year of Artificial Intelligence’

• Telangana government has decided celebrate the year of 2020 as the Year of Artificial Intelligence. Govt said upbeat and bullish on AI and allied technologies like Cyber Security, Drones, Big Data and Blockchain.
• Telangana was the first State to sign up with NITI Aayog when they prepared the AI for All document and they will be running multiple pilot programmes in the State.

Note: About Telangana

• Capital: Hyderabad
• Founded: 2 June 2014
• Chief minister: K. Chandrashekar Rao
• Governor:Tamilisai Soundararajan

Banking and Financial

♦Govt. cuts corporate tax

• In its boldest gambit yet to stir up the economy, the government on 20 September.
• Effective tax rate for domestic corporates, inclusive of surcharges, will fall from 34.94% to 25.17% if they stop availing any other tax sops. For new manufacturing firms set up after October 1, 2019 and commencing operations by March 31, 2023, the effective tax rate will fall from 29.1% to 17%.
• Including a rollback of the enhanced surcharge levied on foreign portfolio investors in the Budget, and a reduction in the Minimum Alternate Tax (MAT) rate from 18.5% to 15% for all businesses, is estimated to cost the exchequer ₹1,45,000 crore a year in terms of revenue foregone.

♦Allahabad Bank launches external benchmark linked loans for retail borrowers

• Public-sector lender, Allahabad Bank, announced 18 September that it has launched external benchmark linked loans for retail borrowers and micro and small enterprises.
• The bank, the retail products on offer will be housing, car, education, personal, consumer loans etc., and micro and small enterprise loans will be trading, manufacturing, MUDRA, commercial vehicle, rent discounting, property loans and so on. It added, “Presently, the bank has identified RBI’s Repo Rate and 3 Month MIBOR as he Benchmark Rates.”

♦OECD slashes India’s economic growth forecast from 7.2% to 5.9%

• The Organisation for Economic Co-operation and Development (OECD) appears to be the most pessimistic on India’s economy among think tanks, as it cut the GDP growth forecast by 1.3 percentage points to 5.9 per cent for 2019-20.
• For the next year (2020-21), the OECD has projected the Indian economy to grow 3 per cent, bringing down its earlier forecast by 1.1 percentage points.

Note: About OECD

• Headquarters: Paris, France
• Founded: 30 September 1961

Appointment

♦Anil Kumar Jain appointed new Coal Secretary

• Anil Kumar Jain has been appointed as the new Coal Secretary, according to a government order. Jain is a 1986-batch IAS officer of Madhya Pradesh cadre.
• “The Appointments Committee of the cabinet has approved the appointment of Anil Kumar Jain, Special Secretary, Ministry of Environment, Forest and Climate Change as Secretary, Ministry of Coal.

Defence

♦Indian army conducts massive exercise (Chang Thang) in Eastern Ladakh

• The Indian Army conducted a massive rare exercise involving all its arms and services including tanks, artillery and helicopters, in Eastern Ladakh bordering China, for testing and improving its war-fighting capabilities.
• The integrated exercise named ‘Chang Thang’ was conducted at a high altitude area.

Sport

♦Asia’s first Rugby World Cup in Japan

• The 2019 Rugby World Cup is the ninth Rugby World Cup, and is being held in Japan from 20 September to 2 November. This is the first time the tournament is being held in Asia.
• The opening match of the 2019 Rugby World Cup took place at the Ajinomoto Stadium in Chōfu, Tokyo, and the final match will be held at the Nissan Stadium in Yokohama, Kanagawa Prefecture.

Note: About Japan

• Population: 12.68 crores (2017), World Bank
• Capital: Tokyo
• Currency: Japanese yen
• Prime Minister: Shinzō Abe

Book and Author

♦Book “The Cousins Thackeray: Uddhav, Raj and the Shadow of their Senas” released

• They are first cousins twice over, but have had widely divergent political trajectories. One, an abrasive, fire-breathing demagogue, was seen as his uncle’s political heir whose behavioural traits he cultivated. The other, an introvert, is at his best when plotting strategies on the drawing board rather than the rough-and-tumble of street-corner politics that his party is known for in India’s financial capital.
• Written by the journalist Dhaval Kulkarni.

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