Current Affairs 2019 | Daily GK Updates : 4 October 2019 Daily Current Affairs 2019:
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National (Current Affairs)
♦Andhra Pradesh CM Y.S. Jagan Mohan Reddy to launch ‘YSR Vahana Mitra’ in Eluru
- Chief Minister Y.S. Jagan Mohan Reddy will launch the “YSR Vahana Mitra” scheme in Eluru on 4th
- Benefit: He will distribute ₹10,000 financial assistance to auto, taxi and maxi driver-cum-owners.
- The government received 1,75,352 applications under the scheme. Out of this, 1,73,102 were cleared. Of the sanctioned number, there were 1,56,804 auto drivers, 5,093 maxi drivers and 1,205 taxi drivers.
Note: About Andhra Pradesh
- Governor: Biswabhusan Harichandan
- Chief minister: Y. S. Jaganmohan Reddy
- Literacy rate: 67.41% (2011)
- Population: 4.97 crores (2011)
International (Current Affairs)
♦PM Modi, Mauritian PM jointly inaugurate projects via video conference
- Prime Minister Narendra Modi and Mauritius PM Pravind Jugnauth jointly inaugurated two landmark projects in Mauritius via video conference on 3rd October.
- These are the phase-1 of the Metro Express and a new ENT Hospital. The Indian Government has granted $275 million for the Metro Express project and a grant of $14 million for the new Hospital Project.
- These projects are being developed under a $353 million grant awarded by the Government of India to Mauritius in March 2017.
Note: About Mauritius
- Capital: Port Louis
- Currency: Mauritian rupee
Banking and Financial
♦RBI increases lending limit of MFIs to ₹1.25 lakh
- The Reserve Bank of India has raised the lending cap for microfinance institutions to ₹1.25 lakh, against the earlier limit of ₹1 lakh, to improve credit availability in rural and semi-urban areas.
- It has also been decided to “increase the household income limit for borrowers of non-banking financial companies-micro finance institutions (NBFC-MFIs) from the current level of ₹1 lakh for rural areas and ₹1.60 lakh for urban/semi urban areas to ₹1.25 lakh and ₹2 lakh, respectively.”
♦Fourth bi-monthly policy review
- The Reserve Bank of India (RBI) lowered its key lending rate or the repo rate by 0.25 per cent — from 5.40 per cent to 5.15 per cent — on 4th October in its fourth bi-monthly policy review. This is the fifth straight cut in its rates by the RBI in 2019.
- RBI cuts repo rate by 25 bps to 5.15%, lowest since March 2010.
- The MPC decided to continue with an accommodative stance as long as “it is necessary to revive growth, while ensuring that inflation remains within the target.”
- All members of the MPC voted in favour of reducing the repo rate. Chetan Ghate, Pami Dua, Michael Debabrata Patra, Shri Bibhu Prasad Kanungo and Shri Shaktikanta Das voted for the 25 basis points rate cut. Ravindra H Dholakia voted for a 40 basis points rate cut.
|Reserve Repo Rate||4.90%|
|Marginal Standing Facility(MSF) Rate||5.40%|
|Cash reserve Ratio(CRR)||4%|
|Statutory Liquidity Ratio(SLR)||18.75%|
♦RBI cuts FY20 GDP forecast to 6.1%
- The six-member committee revised the GDP target for FY20 to 6.1 per cent from 6.9 per cent, earlier.
- India, which is Asia’s third-largest economy, expanded by just 5 per cent in the June quarter, its slowest pace since 2013. That had raised expectations the RBI will be forced to further downgrade its growth projection of 6.9 per cent for the current fiscal year.
- The GDP growth is seen at 5.3 per cent in September quarter and in the range of 6.6-7.2 per cent in the rest six months of FY20. The GDP growth for June quarter of 2020 (Q1FY21) is revised downwards to 7.2 per cent.
♦OIL appoints Sushil Chandra as MD & CEO
- Oil India Limited appointed Sushil Chandra Mishra as the new Managing Director and Chief Executive Officer (CEO) of the company.
- Mishra replaces Utpal Bora, who ceased to be Chairman & Managing Director of the company on 30th September.
♦President Kovind appoints Chief Justices to seven high courts
- The government on 3rd October appointed new Chief Justices for seven High Courts.
|Himachal Pradesh High Court– Lingappa Narayana Swamy|
|Punjab and Haryana High Court– Ravi Shanker Jha|
|Rajasthan High Court-Indrajit Mohant|
|Sikkim High Court- Arup K. Goswami|
|Gauhati High Court– Ajai Lamba|
|Andhra Pradesh High Court– J.K. Maheshwari|
|Kerala High Court– S. Manikumar|
♦Maj AQ Khan Won Silver Medal in 53rd Asian Body Building
- Maj Abdul Quadir Khan of the Corps of Signals brought laurels to India by winning a Silver Medal at the prestigious 53rd Asian Body Building and Physique Sports Championship held at Batam, Indonesia on 02 October 2019.
- His accomplishment in the sport is spectacular and has also brought glory to the Indian Army and Corps of Signals.
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