Daily Current Affairs 2019 | Daily GK Updates : 6th June 2019
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Current Affairs (National)
♦ India’s first Orchidarium opened in Meghalaya
- The first Orchidarium in India was opened for tourists at Upper Shillong in Meghalaya on Monday
- The 6000 square feet state of the art orchidarium is unique and is the only kind in the country having climate controlled system and displays several species of orchids.
- Orchidarium was made functional by the Institute of Bio-resources and Sustainable Development (IBSD), an autonomous institute of Department of Biotechnology under the Ministry of Science and Technology within a record time of 3 months.
- Capital: Shillong
- Governor: Tathagata Roy
- Chief minister: Conrad Sangma
Current Affairs (International)
♦ Russia launches first Arctic train service
- The first tourist train traveling through Russia’s Arctic region and on to Norway set off from Saint Petersburg station Wednesday with 91 passengers aboard for the inaugural trial journey.
- “The Arctic fascinates everybody,” said Nurlan Mukash, executive director of the German Lernidee Erlebnisreisen tour group behind the project.
- “This destination has been covered by Canadian and Norwegian tourist agencies but, this has not been the case for Russia,” he added.
- The train, named “Zarengold” (“The Tsar’s gold” in German) complete with two restaurant cars will travel from Saint Petersburg through Petrozavodsk, the historic town of Kem and Murmansk.
- Capital: Moscow Trending
- Currency: Russian ruble
- President: Vladimir Putin
- Continent: Europe, Asia
♦ 2nd Disability Summit, Argentina 2019
- The Government of Argentina Republic, the International Alliance Disability (IDA) and the Latin American Network of Non-Governmental Organizations of Persons with Disabilities and their Families (RIADIS) are pleased to announce that they are hosting “Disability Summit, Argentina 2019 “, which will take place in Buenos Aires, between June 6 and 8, 2019.
- President: Mauricio Macri
- Capital: Buenos Aires
- Currency: Argentine peso
Banking and Finance
♦ RBI cuts interest rate by 25 bps, revises GDP growth to 7%
- The six-member Monetary Policy Committee (MPC) of the Reserve Bank of India reduced the repo rate at its third meeting this year by 25 basis points to 5.75% to address growth concerns. The stance of the policy has also been changed from neutral to accommodative. The decision was unanimous.
- “The MPC notes that growth impulses have weakened significantly as reflected in a further widening of the output gap compared to the April 2019 policy,” the RBI said.
- The RBI has revised GDP growth projection for the current financial year from 7.2% to 7%. “The path of CPI inflation is revised to 3.0-3.1% for H1:2019-20 and to 3.4-3.7 % for H2:2019-20, with risks broadly balanced,” it said.
- Repo rate- 5.75%
- Reverse repo rate- 5.50%
- MSF- 6%
- Bank rate- 6%
- CRR- 4%
- SLR- 19%
- Governor: Shaktikanta Das
- Headquarters: Mumbai
- Founded: 1 April 1935, Kolkata
♦ RBI enters top-10 list of gold holders with 52.3-tonne purchase in FY19
- The Reserve Bank of India purchased 52.3 tonnes gold in FY19 to augment its foreign exchange reserves, according to the latest data released on Tuesday by the World Gold Council. With this, it has entered league of world’s top-10 gold holding central banks. RBI currently holds 612.6 tonnes of the metal as part of its foreign exchange reserves. Till about a month ago, the central bank was ranked 11th, but in March it added 3.7 tonnes of gold to its forex reserves and dislodged the Netherlands from the 10th spot.
- The World Gold Council derives data on gold reserves from International Financial Statistics under International Monetary Fund. All signatory central banks have to provide monthly updates to the IMF on their gold purchases forming part of their foreign exchange reserves.
♦Nandan Nilekani-led panel suggests measures to boost digital transactions
- To encourage digital payments, the Nandan Nilekani committee has suggested a host of measures, including elimination of charges, round-the-clock RTGS and NEFT facility, and duty-free import of point-of-sales machines.
- The committee, which was appointed by the RBI, had submitted its suggestions on promoting digital payments to Governor Shaktikanta Das last month.
- Among other things, the panel has suggested that there should be no convenience fee on payments made to government agencies by customers and recommended that payment systems use machine-driven, online dispute resolution systems to handle complaints.
♦ Azim Premji to retire as executive chairman and MD of Wipro by end of July
- Azim H Premji, founder of IT major Wipro Ltd, will retire as executive chairman and managing director (MD) of the company by the end of July, the company said on Thursday. Chief Executive Officer Abidali Z Neemuchwala has been named as its new MD.
- Mr. Premji will stay on as non-executive director, the Bengaluru-based company said.
- Founder: M.H. Hasham Premji
- Owner: Azim Premji
- Headquarters: Bengaluru
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