Current Affairs Update 17 January 2019
Current Affairs is an important part for many exams. Be prepared for this section with ByScoop which brings all the important Current Affairs in one place. 17 January 2019
Commerce Ministry forms panel to streamline gems and jewellery industry; Head- Pramod Agrawal
- The Union Ministry of Commerce has announced a committee to draft guidelines for forming a domestic council to streamline the Rs 5-trillion gems and jewellery industry.
- The five-member committee is headed by Pramod Agrawal, Chairman, Gems and Jewellery Export Promotion Council. It has members from the India Bullion and Jewellers Association, AIGJF and other trade bodies.
- The committee is meant to formulate the constitution and election rules of the proposed council, which the government hopes to announce shortly.
Statutory Liquidity Ratio (SLR) reduced by 0.25 % to 19.25%
- The Reserve Bank of India has reduced the statutory liquidity ratio (SLR) to 19.25% from 19.50% as announced in the 5th Bi-monthly Monetary Policy Meeting.
- It was decided to reduce statutory liquidity ratio (SLR) by 0.25 per cent (25 bps) every quarter beginning January 2019.
- SLR is the portion of funds which banks are required to park in treasury bills and other instruments.
Ind-Ra predicts GDP growth for FY20 at 7.5%
- India Ratings and Research (Ind-Ra) has predicted India’s GDP growth rate in 2019-20 at 7.5% on account of steady improvement in major sectors — industry and services.
- For 2018-19, Ind-Ra has predicted the GDP growth rate for India at 7.2%
ISRO Organises UNNATI Programme in Bengaluru
- Union Minister of State for Atomic Energy and Space, Dr. Jitendra Singh inaugurated the UNNATI programme of Indian Space Research Organisation (ISRO) in Bengaluru on January 17, 2019.
- UNNATI (Unispace Nanosatellite Assembly & Training) is a capacity building programme on Nanosatellite development organised by ISRO to commemorate the 50th anniversary of the first United Nations conference on the exploration and peaceful uses of outer space (UNISPACE-50).
- UNNATI programme is planned to be conducted for 3 years by U.R. Rao Satellite Centre of ISRO in 3 batches and will target to benefit officials of 45 countries.
- The first batch held on January 17 saw participation of 30 delegates from 17 countries (Algeria, Argentina, Azerbaijan, Bhutan, Brazil, Chile, Egypt, Indonesia, Kazakhstan, Malaysia, Mexico, Mongolia, Morocco, Myanmar, Oman, Panama and Portugal).
- The programme will provide two months training to the participating developing countries to strengthen in assembling, integrating and testing of Nanosatellite.
3 days BES EXPO 2019 Begins in New Delhi
- Information and Broadcasting Secretary Amit Khare and TRAI Chairman R S Sharma jointly inaugurated the 25th edition of the International conference and exhibition on terrestrial and satellite broadcasting, BES EXPO 2019, in New Delhi on January 17, 2019.
- The three days conference been organised by the Broadcast Engineering Society (BES-India) and is rated as the biggest broadcast technology show in India.
- Theme: Next Gen Broadcasting in the IT World.
- More than 300 companies from 25 countries will display the latest equipment for radio and TV broadcasting in the show which will be attended by more than 1,000 delegates from India and abroad.
10th edition of India Rubber Expo 2019 Inaugurated in Mumbai
- Union minister for commerce and Industry and Civil Aviation Suresh Prabhu inaugurated the 10th edition of the India Rubber Expo 2019 in Mumbai at the Bombay Convention & Exhibition Centre on January 17, 2019.
- India Rubber Expo (IRE) is currently Asia’s largest Rubber Exhibition and offers a unique opportunity for Indian companies to meet and collaborate with overseas companies.
- The expo was first held in 2001.
Companies can raise $750 mn yearly via external commercial borrowings: RBI
- The Reserve Bank of India has rationalisation in the New External Commercial Borrowings (ECB) Framework and Rupee denominated bonds to further improve the ease of doing business. Some major changes are:
- All eligible borrowers can now raise ECBs up to USD 750 million or equivalent per financial year under the automatic route replacing the existing sector wise limits.
- Minimum Average Maturity Period (MAMP): MAMP will be 3 years for all ECBs.
- However, for ECB raised from foreign equity holder and utilised for specific purposes, the MAMP would be 5 years.
- Similarly, for ECB up to USD 50 million per financial year raised by manufacturing sector, which has been given a special dispensation, the MAMP would be 1 year.
- Eligible borrowers: This has been expanded to include all entities eligible to receive FDI. Further, the following entities are also eligible to raise ECB:
a) Port Trusts;
b) Units in SEZ;
c) SIDBI;
d) EXIM Bank; and
e) Registered entities engaged in micro-finance activities, viz., registered Not for Profit companies, registered societies/trusts/cooperatives and Non-Government Organisations (permitted only to raise INR ECB).
India’s Satyarup Siddhanta Becomes World’s Youngest Mountaineer To Climb 7 Peaks and Volcanic Summits
- Renowned Indian mountaineer Satyarup Siddhanta conquered, Antarctica’s highest point, Mount Sidley, on January 17, 2019.
- With this feat, Kolkata based software engineer has become the first Indian as well as the youngest man in the world to have climbed all the seven highest mountain peaks and seven volcanic summits across each continents.
- Satyarup achieved the feat at the age of 35 years and 262 days which was previously held by Australia’s Daniel Bull who had done it at the age of 36 years 157 days.
Former President of Vishwa Hindu Parishad, Vishnu Hari Dalmia Passes Away
- Former International President of the Vishwa Hindu Parishad (VHP), Vishnu Hari Dalmia passed away. He was 91 year old.
- Dalmia contributed in giving a befitting renovation to Sri Krishna Janmasthan temples along with his father Jai Dayal Dalmia.
- He also played a crucial role in the Ram Janambhumi movement as well as one of the co-accused in Babri Masjid demolition case.