IBT Institute

Current Affairs June 10, 2019

1. Romila Thapar elected as a member of American Philosophical Society

  • Famous Writer Romila Thapar elected as an international member of American Philosophical Society (APS) at its Annual Spring Meeting.She is Emerita professor whose principal area of study is ancient India.
  • She wrote several books including the popular volume, A History of India, and is currently Professor Emerita at Jawaharlal Nehru University (JNU) in New Delhi.
  • She was offered Padma Bhushan award but declined both times.
  • Her famous Works: Aśoka, epigraphy of Mauryan period, and ground-breaking studies and multiple historiographies surrounding contested Hindu and Muslim history of Somnath.

Foot Notes:

  1. Founder: Benjamin Franklin
  2. Founded: 1743
  3. Headquarters: Philadelphia, Pennsylvania, United States
  4. Subsidiaries: American Philosophical Society Museum, American Philosophical Society Library

2. Maldives to confer its highest award Nishan Izzuddin on Prime Minister Narendra Modi

  • Shri Narendra Modi is conferred with Maldives highest award ‘Nishan Izzuddin’.
  • The main aim of the visit is to further cement ties with the Indian Ocean archipelago.
  • Earlier, Prime Minister Modi and President Solih held delegation-level talks as the two countries signed a slew of agreements to strengthen bilateral ties in a number of key areas including defence.
  • His last was in November 2018 to attend President Solih's swearing-in, this visit is the first by an Indian prime minister at a bilateral level in eight years.

Foot Notes:

About Maldives

  1. Capital: Malé
  2. Currency: Maldivian rufiyaa
  3. Continent: Asia
  4. President: Ibrahim Mohamed Solih

3. Jammu and Kashmir government appointed RK Chibber as interim chief of J&K Bank

  • Jammu and Kashmir government removed Jammu and Kashmir (J&K) Bank Chairman Parvez Ahmad. They decided to take long term measures to improve the functioning of the bank so that it becomes an example of a well managed government-owned bank.
  • They appointed R K Chibber as interim chairman of the lender.
  • Ahmad was appointed in 2016 as the chairman of the bank.The Vigilance Organisation made 1,200 appointments during the previous PDP-BJP dispensation in the state during Ahmad's tenure as chairman of the bank.
  • Jammu and Kashmir Bank decided to take long term measures to improve the functioning of the bank and it becomes a shining example of a well managed government-owned bank.
  • Last year the Governor-led State Administrative Council (SAC) approved the proposal for treating Jammu and Kashmir Bank Limited as a public sector undertaking (PSU) and to make it to the state legislature from its employees.The government will re-examine the issue of accountability.

Foot Notes:

About J and K Bank

  1. Headquarters: Srinagar
  2. Owner: Government of Jammu and Kashmir (59%)
  3. Interim Chairman: RK Chibber

4. Union Cabinet has approved the Brucellosis control program to improve the health of animals Union       

  • Union Cabinet has approved the Brucellosis control program, a new scheme, to control Foot and        Mouth Disease (FMD) and Brucellosis to support the livestock rearing farmers and improve the health of animals.
  • This initiative aims to fully control these diseases amongst livestock in the country in the next five years and subsequently eradicate these diseases.
  • Cabinet has approved a total outlay of Rs.13,343 crores for the scheme and entire cost will be now borne by Central Government. Earlier the cost was shared by both Central and State Governments. It is very common amongst the livestock, cow-bulls, buffaloes, sheep, goats, pigs, etc.

5. Sri Lankan Airlines named world's most punctual air service for second consecutive time

  • SriLankan Airlines named as the 'World's Most Punctual Airline' for the second consecutive time with over 90 percent of its flights in May.This status was achieved for the second time in less than 12 months.They achieved a punctuality rating of 91.37 percent reports Xinhua news agency.In a may month they achieved a punctuality rating of 90.75 percent.
  • Flightstats analyzed 41 carriers data from Europe, North America, Asia, the Middle East, and South America and includes most of the world's most prestigious airlines.
  • The punctuality rating of 90.75% by SriLankan Airlines in May 2019 facing challenges caused by heightened security at airline’s hub at Bandaranaike International Airport (in Sri Lankan capital Colombo).

Foot Notes:

About SriLankan Airlines

  1. CEO: Vipula Gunatilleka
  2. Alliance: Oneworld
  3. Hub: Bandaranaike International Airport

6. India’s first Dinosaur Museum inaugurated in Gujarat

  • Gujarat Chief Minister Vijay Rupani on Saturday inaugurated India’s first dinosaur museum and fossil park at Raiyoli village near Balasinor town of Mahisagar district.
  • According to government officials, Raiyoli is globally known to be the third largest fossil site and the second largest dinosaur hatchery from where about 10,000 dinosaur eggs have been found.
  • This is the first such park in the country and also the world’s third park which exhibits remains of various dinosaurs and fossil records.3D projection, 360 degrees virtual reality presentations, interactive kiosks, gaming consoles are the facilities equipped  with the museum.

Foot Notes:

About Gujarat

  1. Capital: Gandhinagar
  2. Chief Minister: Vijay Rupani
  3. Governor: Om Prakash Kohli

7. Paytm Payments Bank ahead of major banks in digital transaction target with 501.16 crore digital transactions

  • Paytm Payments Bank with 501.16 crore digital transactions for the financial year 2019-20 was ahead of major banks including HDFC Bank, Industrial Credit and Investment Corporation of India (ICICI) Bank and Punjab National Bank in digital transaction target set by the Ministry of Electronics and Information Technology (MeitY).It is only behind the State Bank of India (SBI) which has the highest target for digital transactions.
  • Only 5 banks have received a target of more than 100 crore transactions. They are HDFC Bank, ICICI Bank, Axis Bank,Punjab National Bank and Union Bank of India.
  • In FY 2018-19, Paytm payments bank had crossed the target of 354 crore transactions and recorded 393 crore digital transfers. It has a market share of 19% and 32% respectively in terms of mobile banking and Unified Payments Interface (UPI)transactions.
  • It processes over Rs 3 lakh crore worth of digital transactions on an annual basis.In terms of deposits, it has more than Rs 500 crore deposits in savings accounts as of April 2019. It is largest among the payments bank in India.

Foot Notes:

About Paytm Payments Bank

  1. Headquarters: Noida, Uttar Pradesh
  2. Chairman:  Vijay Shekhar Sharma
  3. Tag line: Simplifying Payments for India

8. SBI cuts interest rate on CC/OD, introduces repo linked home loan product

  • On June 7, 2019, State Bank of India (SBI) announced to introduce repo-linked home loan product from July 1, 2019. It has become the first bank to offer this facility.
  • The home loans up to Rs 75 lakh will be priced at 2.65% over the repo rate of 5.75% resulting in the interest rate of 8.40%. At present, it offers home loanslinked to its marginal cost of funds at 8.55%.SBI also reduced the interest rate on Cash Credit Account (CC) and Overdraft (OD) customers with limits above Rs 1 lakh, after the RBI reduced the repo rate by 25 basis points to 5.75%.
  • At present, the effective Repo-Linked Lending Rate (RLLR) for CC/ OD customers is 8%whereas for savings deposits above Rs 1 lakh the new rate is be 3%.
  • iv. In March, SBI had linked all CC accounts and ODs with limits above Rs 1 lakh to the repo rate plus a spread of 2.25%. For above Rs 1 lakh, it had set its savings deposit rates to 2.75% below the repo rate.

Foot Notes:

About SBI

  1. Headquarters: Mumbai
  2. Chairman: Rajnish Kumar
  3. Founded: July 1, 1955
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