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Current Affairs 24 May 2019
RBI allows large modern Currency Chests to increase service charge from Rs 5 to Rs 8
- The Reserve Bank of India has allowed large modern Currency Chests (CC) to increase the service charges that the CCs charge on cash deposited by non-chest bank branches from the existing rate of ₹ 5/- per packet of 100 pieces to a maximum of ₹ 8/- per packet.
RBI revises Voluntary Retention Route for Investments by Foreign Portfolio Investors (FPIs) and opens allotment ‘on tap
- The Reserve Bank of India had introduced the Voluntary Retention Route for Investments by Foreign Portfolio Investors (FPIs) on March 01, 2019. Now RBI has introduced some changes in it. These are given below:
- Earlier there was an aggregate investment limit of ₹ 40,000 crores for VRR-Govt and ₹ 35,000 crores for VRR-Corp.
- Now both the categories have been merged under the VRR–Combined category, which allows investment in both government securities and corporate debt. The investment limit shall be ₹ 54,606.55 crores.
- The minimum retention period shall be three years. During this period, FPIs shall maintain a minimum of 75% of the allocated amount in India. (No Change)
- Investment limits shall be available ‘on tap’ and allotted on ‘first come, first served’ basis.
- The ‘tap’ shall be kept open till the limit is fully allotted or till December 31, 2019, whichever is earlier.
- FPIs may apply for investment limits online to Clearing Corporation of India Ltd. (CCIL) through their respective custodians.
Supreme Court Attains Full Strength as Four New Judges Takes Oath
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- Chief Justice Ranjan Gogoi administered oath of office to four new Supreme Court judges on May 24, 2019.
- The four new judges are BR Gavai, Surya Kant, Aniruddha Bose and AS Bopanna.
- With the addition of 4 new judges, the total strength of the apex court has now reached its full strength of 31 for the first time in five years.
- In the year 2008, the Parliament of India had sanctioned an increase in the number of judges to 31 from the previous 27 including the Chief Justice.
DRDO Test Fires Guided Bomb from Sukhoi Combat Jet
- The Defence Research and Development Organisation (DRDO) successfully test fired an indigenously-developed 500 kg class Inertial Guided Bomb from Su-30 MKI Aircraft from the Pokhran test range in Rajasthan on May 24, 2019.
NewSpace India, the commercial arm of ISRO, inaugurated
- NewSpace India Limited (NSIL), the commercial arm of Indian Space Research Organisation (Isro) was officially inaugurated on May 23, 2019.
- Isro’s honorary adviser, Dr K Kasturirangan inaugurated NSIL in the presence of chairman Dr K Sivan.
- The main objective of NSIL is to scale up industry participation in Indian space programmes. Specifically, it will be responsible for manufacturing the and production of Small Satellite Launch Vehicle (SSLV) and Polar Satellite Launch Vehicle (PSLV) through technology transfer mechanisms.
- Authorised share capital of NSIL: Rs 100 crore and Initial paid up capital of NSIL: Rs 10 crore.
scUber world’s first rideshare submarine launched, by Uber
- Uber has partnered with Australian tourist group Tourism Queensland to offer the world’s first rideshare submarine, scUber.
- scUber will offer riders the opportunity to explore the Great Barrier Reef in the shared vehicle.
- Each scUber ride is priced at USD 3,000 for two passengers.
Theresa May to Step Down as UK Prime Minister
- The British Prime Minister Theresa May has announced to quit her position as the prime minister of United Kingdom after failing to come up with an agreement with her ministers to lead Britain out of the European Union (Brexit).
- The 62-year old Mrs. May will resign as the Conservative Party leader on June 7, 2019 and remain as prime minister until a successor is chosen.
Indian artist Nalini Malani wins Joan Miro Prize
- Indian artist Nalini Malani has won the Joan Miró Prize for 2019. The award comes with a €70,000 (Rs 54.5 lakh) prize.
- The award is named after Spanish painter and sculptor Joan Miró. He was one of the most influential artists the 20th century. Fundació Joan Miró, the Spanish art museum will give the award.
- She won the award for her “longstanding commitment to the silenced and the dispossessed all over the world, most particularly women”.
Pune Scientist Ankur Patwardhan Wins German Chemistry Prize
- Ankur Patwardhan, a scientist from Pune, runner up in an international competition ‘Elsevier Foundation-ISC3 Green and Sustainable Chemistry Challenge’ in Germany.
- Patwardhan won the second prize, worth €25,000 among top 5 finalists, for his project named ‘Butterfly attractant for pollination and ecosystem health’ which tells about the relation between chemistry and ecosystem.
- He was awarded at the 4th Green and Sustainable Chemistry Conference in Germany
- Ankur Patwardhan, who is currently working as head of the ‘Annasaheb Kulkarni Biodiversity Department’ at Abasaheb Garware College, Pune, developed the project idea with the help of Tejaswini Pachpor and Dattatray Naik.
Bengaluru Based Doctor Hema Divakar Gets Global Asian of the Year 2018-19
- Bengaluru-based medical doctor Hema Divakar has been felicitated with the ‘Global Asian of the Year 2018-19’ for her contributions to the health ecosystem and women healthcare.
- Hema received the award at the Asian Business & Social Forum 2019 in Dubai under the ‘In Service of the Society and the Nation’ category.
- She received the honour from UAE’s Trade Promotion Director Mohammed Naser Hamdan Al Zaabi.