Daily Current Affairs – 03 April 2019

Daily Current Affairs 03 April 2019: We have collected the latest current affairs for 03 April 2019 that are important for all competitive exams like bank, ssc, ibps, sbi exams. The GK current affairs will help you score more in these competitive exams. Improve your general knowledge with our daily online current affairs. You can also read the current affairs on our mobile app.

Current Affairs 03 April 2019


India to Receive 24 Anti Submarine Helicopters ‘MH 60 Romeo Seahawk’ from US

  • The United States government has approved to sell 24 multi-role MH-60 Romeo Seahawk helicopters to India at an estimated cost of 2.6 billion US dollars.
  • These choppers are considered as the world’s most advanced maritime helicopter.
  • It will provide the Indian defence forces with the capability to perform anti-surface and anti-submarine warfare missions.
  • MH-60 Romeo Seahawk helicopters have been designed and manufactured by Lockheed Martin for hunting submarines as well as knocking out ships and conducting search-and-rescue operations at sea.

India Signs MoU With NABCONS to Set Up India-Africa Institute of Agriculture & Rural Development in Malawi

  • The Ministry of External Affairs, Government of India has signed an MoU with National Bank for Agriculture and Rural Development Consultancy Service (NABCONS) to set up India-Africa Institute of Agriculture and Rural Development (IAIARD) in Malawi.
  • IAIARD will be a Pan-African Institute to train students from Malawi as well as other African countries in the areas of micro-financing and agro-financing, among others.
  • The entire expenditure of the Indian faculty, the travel, logistics and training course expenses for students from other African countries will be borne by the Government of India for an initial period of three years.
  • IAIARD will be the first of its kind institute developed by India in an African country and will further strengthen the bilateral relations with Malawi and African Union.

RBI sets WMA Limit for Govt at Rs 75000 crore for first half of FY20

  • The Reserve Bank of India has set the limits for Ways and Means Advances (WMA) for the first half of the financial year 2019-20 at ₹75,000 crore. This is for April 2019 to September 2019).
  • The Reserve Bank makes advances to the Central and state governments to remove the temporary mismatch in the cash flows. Such advances are termed as ‘ways and means advances’ (WMA).
  • The Reserve Bank may trigger fresh floatation of market loans when the Government of India utilises 75 percent of the WMA limit.
    • The interest rate on WMA/overdraft will be:
      WMA: Repo Rate
      Overdraft: Two percent above the Repo Rate

ADB Projects India’s Growth at 7.2% in 2019 on Rising Consumption

  • According to the Asian Development Outlook 2019 report of Asian Development Bank (ADB), India is expected to rebound at 7.2 percent in the fiscal 2019-20 due to strengthening consumption.
  • Further, the growth rate for 2020 is expected to grow at 7.3 percent.
  • India’s growth slowed from 7.2 percent in fiscal 2017 to 7 percent in 2018.

WTO Lowers Global Trade Growth From 3.7 percent to 2.6 percent in 2019

  • The World Trade Organization (WTO) has lowered its forecast for global trade growth in 2019 from 3.7 percent to 2.6 percent due to tensions and economic uncertainties in global trade.
  • In its forecast report inSeptember 2018, the WTO had lowered the global 2018 and 2019 trade growth to 3.9 and 3.7 percent, respectively.

Supreme Court strikes down RBI’s Feb 2018 circular on Resolution of stressed assets

  • The Supreme Court has quashed the February 12, 2018 circular of RBI on Resolution of Stressed Assets.
  • The circular gave the defaulting companies a time of 180 days to agree on a resolution plan with lenders or be taken to bankruptcy court to recover a debt of Rs 2,000 crore and above.
  • The decision was taken by a two-judge bench headed by RF Nariman.

India to Host NuGen Mobility Summit 2019 at Manesar in November

  • India will be organizing a NuGen Mobility Summit, 2019, at NCR Region, Manesar in Haryana, from November 27-29, 2019.
  • The Summit will be organized by International Centre for Automotive Technology (ICAT) in collaboration with SAE-NIS.
  • The Summit will provide a platform to share new ideas, learnings, global experiences, innovations and future technology trends for faster adoption, assimilation and development of advanced automotive technologies for a smarter and greener future.

Kandhamal Haldi (Turmeric) of Odisha Gets GI tag

  • The Kandhamal Haldi (turmeric), named after Kandhamal district of Odisha, has received the GI tag from the Geographical Indications Registry office on April 1, 2019.
  • The recognition coincided with the Odisha’s Foundation Day (Utkal Divas). Odisha was formed as a separate state on April 1, 1936.

Garuda Prakashan Launches Books #Modi Again’ and ‘Saffron Swords’

  • Indian publishing house, Garuda Prakashan, launched its two books named ‘#Modi Again’ and ‘Saffron Swords – Centuries of Indic Resistance to Invaders’ on April 2, 2019.
  • #Modi Again (Why Modi is right for India) An Ex-Communist’s Manifesto, has been authored by Aabhas Maldahiyar.
  • Aabhas, a self-professed Marxist voted against BJP and Narendra Modi in 2014. This is the story of his journey of transformation from a Modi hater to a Modi supporter.
  • ‘Saffron Swords – Centuries of Indic Resistance to Invaders’ has been written by Manoshi Sinha Rawal.
  • It contains 52 tales of valor, is a tribute to the unsung warriors of India, both men and women, from the last 1300 years.

South Korea to launch world’s first national 5G networks

  • On April 05, 2019, South Korea will become the first country in the world to launch a nationwide 5G network. Until now, no mobile networks have offered nationwide 5G access.
  • On April 05, 2019 all three of South Korea’s mobile networks namely KT, SK Telecom and LG UPlus will go live with their 5G services hence making South Korea first country in the world to launch the national 5G network.

Japan Notifies New Imperial Era ‘Reiwa’ Beginning May 2019

  • The Government of Japan has announced the name of its new imperial era as “Reiwa” which is set to begin on 1 May.
  • On May 1, 2019, Japanese Emperor Akihito’s elder son, Prince Naruhito is expected to ascend to the Chrysanthemum Throne as the 126th Emperor of Japan.
  • Each Japanese emperor’s reign is given a name that is then used alongside the Western calendar to mark the years.
  • The country’s current era is named as ‘Heisei’ and will end on April 30, 2019 with Emperor Akihito’s retirement.
  • ‘Reiwa’ can be translated to “beautiful harmony”.

Algerian President Abdelaziz Bouteflika Resigns at 82

  • The President of Algeria, Abdelaziz Bouteflika, has resigned with immediate effect on April 2, 2019, to end his 20-year rule over the country.
  • The 82-year-old leader was in pressure to step down due to the weeks of mass protests erupted in the country over the intentions of Bouteflika to run for a fifth term in the Algerian presidential elections.

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