Current Affairs 2019 | Daily GK Updates : 23 August 2019 Daily Current Affairs 2019:
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National (Current Affairs)
♦President of India inaugurates the first ever World Youth Conference for Kindness
- The President of the Republic of India, Shri Ram Nath Kovind inaugurated the first World Youth Conference on Kindness organised by the UNESCO Mahatma Gandhi Institute of Education for Peace and Sustainable Development and Ministry of Human Resource Development in New Delhi.
- Theme- ‘Vasudhaiva Kutumbakam: Gandhi for the Contemporary World
- Aim- Impart critical competencies (i.e. empathy, compassion, mindfulness and critical inquiry) in global youth to inspire, empower and enable them to transform themselves and build long-lasting peace in their communities.
- The conference saw participation from approximately 1,000 youth representing over 27 countries such as Asia, Africa, Latin America, and Europe.
International (Current Affairs)
♦Pakistan placed under blacklist of FATF Asia-Pacific Group
- Pakistan has been placed on the blacklist of the Financial Action Task Force’s Asia Pacific Group (APG) for non-compliance and non-enforcement of safeguards against terror financing and money laundering.
- The Financial Action Task Force (FATF) has already greylisted Pakistan for failing to curb anti-terror financing.
- About FATA-FATF was formed by the 1989 G7 Summit in Paris to combat the growing problem of money laundering. The task force was charged with studying money laundering trends, monitoring legislative, financial and law enforcement activities taken at the national and international level, reporting on compliance, and issuing recommendations and standards to combat money laundering.
Headquarters: Paris, France
- President: Xiangmin Liu
- Founded: 1989
Banking and Financial
♦Moody’s cuts India GDP growth forecast to 6.2% from 6.8% for 2019
- Moody’s Investors Service on Friday cut India’s GDP growth forecast for 2019 calendar year to 6.2% from 6.8%.
- For 2020 calendar year, it reduced the estimate by a similar by a similar 0.6 percentage points to 6.7% form 7.3%.
- Reason– India’s economy remains sluggish on account of a combination of factors, including weak hiring, financial distress among rural households, and tighter financing conditions due to stress among non-bank financial institutions.
♦Bandhan Bank teams up with Standard Chartered Bank for a co-branded credit card
- Bandhan Bank, completing four years into banking, has teamed up with Standard Chartered Bank to launch a co-branded credit card.
- The credit card will be for Bandhan Bank customers while the credit risk will be borne by StanChart, one of the leaders in the credit card market with 1.2 million credit card base.
- This is StanChart’s first co-branded card with another bank.
About: Bandhan Bank
- Headquarters: Kolkata
- CEO: Chandra Shekhar Ghosh
♦RBI announce RTGS system to open at 7 AM from August 26
- RBI announce Transfer of funds through the high-value RTGS system will be available from 7 am instead of 8 am from August 26.
- Earlier this month, the RBI had decided to allow round-the-clock fund transfers through the National Electronic Funds Transfer (NEFT) from December this year in order to promote digital transactions.
- Currently, the NEFT, a retail payment system, is available for customers from 8 am to 7 pm on all working days with the exception of second and fourth Saturdays of a month.
Note- The NEFT system is used for fund transfers of up to Rs 2 lakh, and RTGS for fund transfers above Rs 2lakhs.
♦BookMyForex, YES Bank tie up for foreign exchange travel card
- com, a marketplace for foreign exchange and remittances, has partnered with YES Bank to launch a co-branded multi-currency forex travel card for Indian overseas travellers.
- BookMyForex will offer zero margin or exact inter-bank rates 24×7 on forex card sales. Customers will now be able to buy forex travel cards at the click of a button on the BookMyForex platform and get free doorstep delivery across major cities in India.
Note About YES bank
- CEO: Ravneet Gill
- Headquarters: Mumbai
♦Acko partners with ZestMoney for credit insurance
- Acko General Insurance, an insurtech company, has partnered with ZestMoney.
- ZestMoney – This insurance will help ZestMoney customers cover their monthly EMI payments during times of crisis.ZestMoney offers instant financing to consumers across 1000+ online portals and provides them the option of paying through EMIs even if the consumers don’t own a credit card.
- Acko – will offer credit insurance to these consumers and cover them during eventualities like hospitalization or critical illness when they’re unable to pay their instalments.
- Aim- ZestMoney partnership with Acko will provide a safety net to our customers and safeguard their EMIs in times of crisis. A customer can avail credit insurance at the time of availing a loan.
♦Govt Launch Bharatcraft portal for MSME
- Nitin Gadkari on 22 august announced ambitious plan to launch its own desi version of an e-commerce portal. The government has named the portal Bharatcraft, which will provide a platform for MSMEs to markets and sell their products.
- Bharatcraft portal has a huge potential to generate revenue worth ₹10 lakh crore in next 2-3 years.
♦Smriti Zubin Irani confers POSHAN Abhiyaan Awards
- Ministry of Women and Child Development (WCD) recognized significant contributions of State Governments, District teams, Block level teams and Field Functionaries at the POSHAN Abhiyaan Award Ceremony for 2018-19 held in New Delhi.
- During the award ceremony, nine States – Andhra Pradesh, Chhattisgarh, Himachal Pradesh, Madhya Pradesh, Maharashtra, Mizoram, Rajasthan, Tamil Nadu and Uttarakhand and three Union Territories – Chandigarh, Daman &Diu, Dadra and Nagar Haveli were given 23 excellence awards consisting of a certificate and cash prize of Rs. 1 crore to 1st position and Rs. 50 lakh to the 2nd position for ICDS-CAS implementation and capacity building, convergence, behaviour change and community mobilisation.
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