Current Affairs Update 2 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. 2 January 2019
Important Cabinet Approvals on 2 January 2019
- The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the following MoUs and proposals in a meeting on 2 January 2019.
- Apprised of MoU between India and Morocco on Cooperation in the area of Cyber Security
- Approved proposal to allot land to Chandigarh Housing Board for construction of apartments for 3930 allottees under Self-Financing Housing Scheme for UT Employees
Centre extends deadline for Saubhagya scheme till January 26, 2019
- The Centre has set a new target for the achievement of complete household electrification across the country, as has missed its December 31 deadline.
- The new deadline is January 26, 2019.
- Government has completed electrification in 100 per cent households in just 25 States. Now about 10.48 lakh households are left to be electrified in 4 States, namely Assam, Rajasthan, Meghalaya and Chhattisgarh.
Govt Establishes up Export Promotion Cell for MSMEs
- The Ministry of MSME has set up an export promotion cell for micro, small and medium enterprises (MSMEs) to create a sustainable ecosystem for enhancing export of MSMEs related products.
- The cell will help to integrate MSMEs into global value chain, evaluate readiness of MSMEs to export their products and services, and recognize areas where improvements are required in order to be able to export effectively and efficiently.
- In addition, the ministry has also proposed to formulate a governing council chaired by secretary of the MSME ministry and co-chaired by the development commissioner, MSME.
RBI Allows One Time Restructuring of MSME Debt up to Rs 25 crore
- The Reserve Bank of India (RBI) has released a set of guidelines on restructuring of loans to the MSME (Micro, Small and Medium Enterprises) sector on January 1, 2019.
- The new norms will provide relief to MSME which are facing cash crunch in the wake of demonetisation and GST implementation.
- As per the guidelines, RBI will permit a one-time restructuring of existing loans to MSMEs without a downgrade in the asset classification, subject to the following conditions:
- The total fund and non-fund based exposure of banks and NBFCs to the borrower should not exceed Rs 25 crore as on January 1, 2019.
- The borrower’s existing account is in default but is classified as ‘standard asset’ as on January 1, 2019 and continues to be classified as a ‘standard asset’ till the date of implementation of the restructuring.
- The restructuring has to be implemented by March 31, 2020.
- Banks need to make a provision of 5% in addition to the provisions already held in respect of accounts restructured under these instructions.
United States and Israel formally quit Cultural Agency UNESCO
- The United States and Israel has officially quit the United Nations Educational, Scientific and Cultural Organization (UNESCO) accusing the agency for anti-Israel bias..
- The two nations had announced their decisions in 2017 of withdrawing from the agency after Paris-based organisation criticised Israel’s occupation of East Jerusalem and granted full membership to Palestinein 2011.
- The withdrawals will not greatly impact UNESCO financially since it has been dealing with a funding slash ever since 2011 when both Israel and the US stopped paying dues after Palestine was voted in as a member state.
- UNESCO was co-founded by USA after World War II in 1945 to foster peace. Israel joined the agency in 1949
Jair Bolsonaro Sworn in as Brazil’s President
- Jair Messias Bolsonaro has been sworn in as the President of Brazil on 1 January 2019.
- He succeeds Michel Temer.
- The 63 years old far-right former army captain took charge as the 38th President of the country.
KP George 1st Indian-American to Take Charge As Fort Bend County Judge in Texas
- Indian-American KP George has been sworn in as the Fort Bend County Judge, becoming the first person from the community to hold the office of one of America’s most diverse counties.
- KP George (53), a Democratic Fort Bend County Commissioners Court Judge in Texas, was elected to the office on November 6, 2018. He took charge from January 1, 2019.
- George who was born in Kerala’s Kakkodu city, has now become the most powerful Indian-American in U.S. government with this appointment.
- Fort Bend is now the most diverse county in Texas as well as among the most diverse in the country with 35 percent Anglos, 24 percent Hispanics, 21 percent Asians and others; and 20 per cent African-Americans.
V K Yadav Takes Over as Chairman, Railway Board
- Vinod Kumar Yadav has been appointed as the new Chairman of the Railway Board (Ministry of Railways).
- He succeeds Ashwani Lohani who completed his tenure on 31 December 2018.
- Prior to this appoinment, Yadav was the General Manager, South Central Railway
Hemant Bhargava appointed as Acting Chairman of LIC
- The government has appointed Hemant Bhargava as the Acting Chairman of Life Insurance Corporation of India. He was the Managing Director of LIC.
- The move comes after VK Sharma retired from the top job at LIC on December 31.
Ramakant Achrekar,Cricket coach of Tendulkar, passed away
- Ramakant Achrekar, the celebrated cricket coach credited for discovering Sachin Tendulkar passed away at 87.
- Achrekar was bestowed the Padmashri award in 2010.