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Current Affairs Today – 8th August 2019
IMPORTANT DAYS AND THEMES
Nation observes 77th anniversary of Quit India movement
- The 77th anniversary of the August Kranti Din, which is considered as one of the important milestones in the history of freedom struggle of our country, is being observed today.
- On this date in 1942, Mahatma Gandhi gave a clarion call to end the British rule and launched the Quit India Movement at the session of the All-India Congress Committee in Mumbai.
BANKING AND FINANCE CURRENT AFFAIRS
SBI announced repo rate cut after RBI policy announcement
- The State Bank of India (SBI), the country’s largest lender, have cut the home loan rates after RBI’s repo rate cut of 35 bps for the fourth time in a row.
- SBI announced its Marginal Cost based Lending Rate (MCLR) cut by 15 basis points (bps) across all tenors.
- Repo rate-linked Home loan product:
- The SBI has been a repo rate-linked home loan product from 1 July 2019. The interest rate on this particular product gets revised automatically whenever there is a change in repo rate.
RLLR:
- The effective Repo Linked Lending Rate (RLLR) for cash credit/overdraft customers has been revised to 7.65%.
FD:
- SBI has also revised fixed deposit rates and cut the interest rates on FDs by 20 to 75 bps on August 1, 2019.
Extra Shots:
SBI: The State Bank of India is an Indian multinational, public sector banking and financial services statutory body. SBI is ranked as 216th in the Fortune Global 500 list of the world’s biggest corporations of 2018.
The Government of India took control of the Imperial Bank of India in 1955, with Reserve Bank of India (India’s central bank) taking a 60% stake, renaming it the State Bank of India.
- Headquarters: Mumbai
- Chairperson: Rajnish Kumar
Reserve Bank of India Expands biller categories for Bharat Bill Payment System
- The Reserve Bank of India allows all categories of billers to accept prepaid recharges under the Bharat Bill Payment System (BBPS).
- The BBPS currently covers billers in five segments, DTH, electricity, gas, telecom and water bills.
- The regulator is expected to issue detailed instructions in this regard by the end of September 2019.
Extra Shots:
RBI: The Reserve Bank of India is India’s central banking institution, which controls the issuance and supply of the Indian rupee.
- Founded: 1 April 1935, Kolkata
- Headquarters: Mumbai
- Governor: Shaktikanta Das
- Deputy Governors: B P Kanungo, M K Jain, N S Vishwanathan
Policy Rates:
- Repo Rate: 5.40%
- Reverse Repo Rate: 5.15%
- Marginal Standing Facility Rate: 5.65%
- Bank Rate: 6.00%
Reserve Ratios:
- Cash Reserve Ratio (CRR): 4%
- Statutory liquidity ratio (SLR): 18.75%
Jana Small Finance Bank receives Scheduled Bank status from RBI
- Jana Small Finance Bank Ltd announced that it has got the status of a Scheduled Bank from RBI.
- The bank’s aim has always been to provide financial inclusion to the underserved sections of the society, including small business units, small and marginal farmers, micro and small industries.
- The Bengaluru-headquartered bank, established as a financial services company in 2009.
- Presently operates 260 branches and 338 asset centres serving over 5.5 million customers in different states.
NATIONAL CURRENT AFFAIRS
India-Bangladesh home minister-level talks held in Delhi
- The Seventh meeting of the India-Bangladesh Home Minister Level Talks was held in New Delhi.
- Home Minister Amit Shah congratulated his Bangladesh counterpart Asaduzzaman Khan on the resumption of the office for a second term.
Extra Shots:
Bangladesh (Capital/Currency): Dhaka/Taka
- Prime Minister: Sheikh Hasina
India gets its first 3D Smart Traffic Signal
- Punjab’s Mohali traffic police have launched ‘Intelights’. The system was designed by the students of a Chandigarh university.
- It is India’s first 3-D Smart Traffic Signal devised on the wireless system.
- It has been installed at the traffic crossing near the Airport Road.
- The 3-D Smart Traffic Signal will regulate the traffic signals with a smart bird’s eye.
- The cost estimated varies from Rs.70 lakh to Rs.1 crore.
Extra Shots:
Punjab: Capital City(Chandigarh) CM(Amarinder Singh) Governor(V P Singh Badnore)
- e-Rozgar Samachar launched to spread awareness about job opportunities
- Union Minister of Information & Broadcasting Shri Prakash Javadekar launched The e-version of Rozgar Samachar.
STATE CURRENT AFFAIRS
Rajasthan government launches new higher education model named RACE
- A new higher education model launched in Rajasthan
- Objective: for the distribution of faculties and movable assets among the government colleges at the district level to rationalize the availability of resources.
- The model will create a pool for sharing of facilities will benefit the colleges lacking infrastructure.
- Minister of State for Higher Education Bhanwar Singh Bhati inaugurated the model, titled Resource Assistance for Colleges with Excellence in the presence of principals of colleges.
Extra Shots:
Rajasthan: Capital City (Jaipur) CM (Ashok Ghelot) Governor (Kalyan Singh)
West Bengal observes death anniversary of Gurudev Rabindranath Tagore
- West Bengal is observing the death anniversary of Gurudev Rabindranath Tagore today.
- A special prayer meeting was held at Viswa Bharati in Santiniketan.
- Viswa Bharati has organised a painting exhibition of Tagore to mark the day.
- West Bengal Government has organised a special musical programme, Barshamongol based on Tagore’s songs and writings in Kolkata this evening to mark the day.
Extra Shots:
West Bengal: Capital City(Kolkata) CM(Mamata Banerjee) Governor(Jagdeep Dhankhar)
AP govt all set to launch Navodayam scheme for MSMEs
- The Andhra Pradesh government is all set to launch Navodayam, a complete outreach programme for thousands of ailing Micro,Small and Medium Enterprises (MSMEs) in the state, with a one-time restructuring of loans that will provide the required ‘lifeline’ for small industrial units.
- Navodayam will provide a lifeline to stressed MSMEs by ensuring that all eligible units are permitted for one-time restructuring of accounts up to March 31, 2020.
Extra Shots:
Andhra Pradesh: Capital City(Amrawati) CM(Y. S. Jaganmohan Reddy) Governor(Biswabhusan Harichandan)
INTERNATIONAL CURRENT AFFAIRS
Pakistan downgrades diplomatic ties and suspends trade with India
- Pakistan has diplomatic ties with India.
- They decided to suspend bilateral trade with India to withdraw its envoy to Pakistan in retaliation against the reorganization of Jammu and Kashmir and revocation of its special status.
Extra Shots:
Pakistan (Capital/Currency): Islamabad/ Pakistani rupee
- Prime Minster: Imran Khan
- President: Arif Alvi
RANKS AND INDICES
Odisha police station in top 10 in country
The Tarava police station in the Subarnapur district of Odisha has been adjudged as one of the 10 best police stations in the country in the annual ranking for the year 2018.
The Subarnapur district Superintendent of Police was also present on the occasion.
Extra Shots:
Odisha: Capital City(Bhubaneshwar) CM(Naveen Patnaik) Governor(Ganeshi Lal)
AGREEMENTS AND MOU SIGNED
UP extends bilateral cooperation MoU with Netherlands in several fields
- Uttar Pradesh government and Netherlands have extended the existing bilateral agreement of cooperation in several fields by another five years.
- A memorandum of understanding was signed by officials in the presence of Uttar Pradesh Chief Minister Yogi Adityanath and the Netherlands ambassador to India, Marten van den Berg extending the cooperation between two countries till 2024.
- The MoU is also related to cooperation in fields of transport management, energy efficiency, sewerage and effluent treatment, agriculture, dairy and horticulture, development of smart cities in UP, cultural heritage and the cycle track infrastructure development in various cities of the state.
Extra Shots:
Uttar Pradesh: Capital City(Lucknow) CM(Yogi Adityanath) Governor(Anandiben Patel)
Netherland (Capital/Currency): Amsterdam/Euro
- Prime Minister: Mark Rutte
APPOINTMENT
Kandikuppa Sreekant becomes Power Grid CMD
- State-owned Power Grid Corporation announced its Director (Finance) Kandikuppa Sreekant has taken over as the company’s chairman and managing director.
- Kandikuppa Sreekant assumed the charge of the chairman and managing director of Power Grid Corporation of India.
- Sreekant is a B.Com (Hons.) graduate, CMA and PGDBM (finance), having more than 33 years of experience in the power sector.
Extra Shots:
Power Grid Corporation: The Power Grid Corporation of India Limited, is an Indian state-owned electric utilities company. POWERGRID transmits about 50% of the total power generated in India on its transmission network.
- Headquarters: Gurgaon, India
- Owner: Government of India
AWARD AND RECOGNITION
Naaz Joshi wins Miss World Diversity Crown for third time
- India’s transsexual woman Naaz Joshi has made the country proud with a third successive victory in the beauty pageant Miss World Diversity held in Mauritius.
Extra Shots:
Mauritius (Capital/Currency): Port Louis/Mauritian rupee
- Prime Minister: Pravind Jugnauth
SPORTS CURRENT AFFAIRS
Diego Forlan announces retirement from professional football
- Former Uruguay captain and English Premier League winner with Manchester United.
- Diego Forlan announced his official retirement at the age of 40.
- He was named the best player at the 2010 World Cup in South Africa where Uruguay finished fourth.
- He scored 36 goals in 112 matches for his country.
SCHEME
Life Insurance Corporation of India new term plan Jeevan Amar launched
- Life Insurance Corporation of India (LIC) launched a cheaper term plan called ‘Jeevan Amar’ which will extend more benefits and flexibility to its policyholders.
- This new term plan is not a market-linked plan. In non-market-linked plan, the policyholders can’t claim the invested /insured amount on maturity.
- The nominee gets the death claim in case of the sudden death of an assured person during the policy term.
- The Jeevan Amar policy option to select between two categories: Smoker and non-smoker.
- AGE: LIC is providing this plan for people above 18 years. It is claimed till the age of 65 years with the maximum age at maturity is 80 years.
Extra Shots:
LIC: Life Insurance Corporation of India is an Indian state-owned insurance group and investment company.
- Founded: 1 September 1956
- Founder: Government of India
- Headquarters: Mumbai
OBITUARIES
Hrithik Roshan’s grandfather, filmmaker J Om Prakash, dies
- Veteran director and actor Hritik Roshan’s maternal grandfather, J Om Prakash, passed away at an age of 93.
- Prakash was best known for his collaboration with two of Bollywood biggest superstars, late Rajesh Khanna with whom he made Aap Ki Kasam and Aakhir Kyon and Jeetendra who worked in big hits like Apnapan, Aasha, Arpan, Apna Bana Lo and Aadmi Khilona Hai.
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