Current Affairs 2019 | Daily GK Updates :6 & 7 August 2019 Daily Current Affairs 2019
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National (Current Affairs)
♦Aamir Khan launches Mission Shakti
- Actor Aamir Khan on Sunday attended the launch function of Mission Shakti, an initiative by Maharashtra minister Sudhir Mungantiwar to train athletes from Chandrapur and Gadchiroli for international events like the Olympics.
- Among those present at the function in Ballarpur here was state sports minister Ashish Shelar.
- “I don’t remember much that I learnt in school except sports. It teaches us how to complete tasks through teamwork. It trains us to handle the situation during ups and downs, Khan told the gathering.
Banking and Financial
♦RBI cuts repo rate by 35 bps to 5.40%, reduces FY20 growth forecast to 6.9%
- The Reserve Bank of India’s (RBI’s) monetary policy committee (MPC) on Wednesday decided to reduce the repo rate by 35 basis points (bps) to 5.40 per cent to help revive the economy. It was the fourth straight rate cut by the central bank in 2019. The marginal standing facility (MSF) rate and the Bank Rate has been adjusted to 5.65 per cent.
- Consequently, the reverse repo rate now stands at 5.15 per cent. The six-member committee lowered the FY20 GDP (gross domestic product) growth forecast to 6.9 per cent from 7 per cent, earlier. The central bank maintained its accommodative stance.
- “Real GDP growth for 2019-20 is revised downwards from 7 per cent in the June policy to 6.9 per cent – in the range of 5.8-6.6 per cent for H1:2019-20 and 7.3-7.5 per cent for H2 – with risks somewhat tilted to the downside; GDP growth for Q1:2020-21 is projected at 7.4 per cent,”.
Current Policy Rate:
- Repo Rate- 5.40%
- Reverse Repo Rate- 5.15%
- CRR- 4%
- SLR- 18.75%
- Bank Rate- 5.65%
- MSF Rate- 5.65%
♦SBI slashes benchmark lending rates by 15 bps after rate cut by RBI
- State Bank of India (SBI), the country’s largest lender by assets, on Wednesday cut its benchmark lending rates by 15 basis points across all tenors, shortly after the central bank slashed interest rates by a larger-than-expected 35 bps to boost the economy.
- SBI’s one-year marginal cost of fund-based lending rate, or the MCLR, will come down to 8.25% per annum from 8.40% earlier with effect from Aug. 10, SBI said in a statement.
- The Reserve Bank of India (RBI) cut interest rates for a fourth straight meeting in 2019, taking advantage of mild inflation to expand its effort to boost an economy growing at its slowest pace in nearly five years, but there have been concerns over speedy transmission of these cuts to the economy.
♦NSE, SGX get regulator’s nod for joint F&O products at GIFT City
- SGX, the Singapore bourse, and the NSE have buried the hatchet. Both the exchanges on Tuesday received approval from SEBI to operate jointly in Gujarat International Finance Tec (GIFT) City, the international finance city under the proposed programme ‘connect’. Simply put, Nifty index, which is trading on SGX in Singapore, will be traded on a joint platform between the NSE and the SGX in GIFT City.
- “The Connect model, which is subject to further approvals from relevant local authorities, will enable SGX and NSE IFSC members to access Nifty products in GIFT while managing their exposures through their respective clearing corporations,”.
♦India’s Naaz Joshi Creates History As She Wins 3rd Consecutive Miss World Diversity Title
- India’s transsexual woman Naaz Joshi has made the country proud with a third successive victory in the beauty pageant Miss World Diversity. Naaz was crowned Miss World Diversity 2019 on August 3 in Port Louis, Mauritius.
- “Winning crown gives me the power and responsibility towards society. With such a huge responsibility, I aim to work towards bringing transgender into the mainstream. I want that everyone should accept us as we are without any discrimination,” said Naaz who won the title consecutively in 2017 and 2018.
♦Kandikuppa Sreekant as a New CMDof Power Grid Corporation of India
- Power Grid Corporation of India announced that in pursuance of Ministry of Power Office Order dated 5 August, 2019, Kandikuppa Sreekant, Director (Finance), POWERGRID has assumed the charge of the post of Chairman and Managing Director (CMD) of Power Grid Corporation of India Limited with effect from 05 August 2019 (A/N). As per the said Order, the tenure of Kandikuppa Sreekant shall be till 31 December 2023 i.e. the date of his superannuation or until further orders, whichever is earlier.
♦5th edition of ‘International Army Scout Masters Competition’ kicks off in Jaisalmer
- The fifth edition of ‘International Army Scout Masters Competition’ was inaugurated in Rajasthan’s Jaisalmer on Monday. Teams from 8 countries, including India, Russia and China participated in the competition.
- Lt Gen DS Ahuja, Chief of Staff of the Indian Army’s Southern Command was present during the inaugural ceremony.
- “Scouts will demonstrate their skills in five competitions: landing from a helicopter and making a forced march, a competition of drivers of reconnaissance vehicles, overcoming Path of Scout obstacle complex, firing from a standard weapon and the exit of the reconnaissance group to the assembly area after completing the mission,” said a statement on the official website of the games.
- This is also the first time that the games are being held in the evening and in two stages- landing and making a forced march.
♦Nick Kyrgios beats Daniil Medvedev to win sixth ATP title
- Australian Nick Kyrgios said he had experienced “one of the greatest weeks” of his life as he won his sixth ATP title at the Washington Open.
- Kyrgios, 24, overcame back spasms and a poor opening set to beat third seed Daniil Medvedev 7-6 (8-6) 7-6 (7-4).
- He hit 18 aces and never faced a break point against the Russian, and will now move back into the world’s top 30.
♦5th National Handloom Day
- The 5th National Handloom Day was held today at 16 NIFT Campuses and Weavers’ Service Centres in different States across the country. Handloom Mela and exhibition, workshops, panel discussion were organised and special stalls were put up for handloom products at Gandhinagar and Kolkata NIFT campuses.
- Events scheduled in Delhi for the National Handloom Day were cancelled to pay homage to Ex- Minister of External Affairs, Sushma Swaraj on her sad and sudden demise.
- The mainfunction was organised in Bhubaneswar, Odisha.It was presided over by State Minister of Industries, Handloom, Handicraft and Textiles, Padmini Diyan. Secretary Textiles, Ravi Capoor, was the guest of honour. The function was attended by Development Commissioner (Handlooms), Sanjay Rastogi, and weavers from all over the state.
♦6 August – Hiroshima Day
- Hiroshima Day commemorates the day in August 1945 when an atomic bomb was dropped on the Japanese city of Hiroshima, followed a few days later by another dropped on the city of Nagasaki.
- While the bombings effectively ended World War II by bringing about the surrender of Japan, this came at a terrible price. The two cities were destroyed and casualties, mostly civilians, were estimated at around 200,000, with many more people dying later from injuries and illness.
- Hiroshima Day is now a focus for anti-war and anti-nuclear discussions and demonstrations around the world.
♦Sushma Swaraj, Former Foreign Minister and BJP Stalwart, Passes Away at 67 After Heart Attack
- Sushma Swaraj, former external affairs minister and senior BJP leader, passed away on Tuesday night. She was 67. The senior BJP leader was brought to AIIMS and was straight away taken to the emergency ward. AIIMS doctors said she died of a cardiac arrest.
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