01 & 02 August Current Affairs 2019

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01 & 02 August Current Affairs 2019

Daily GK Updates & August Current Affairs for Government Exams

Welcome to Current Affairs Section of Instajobalerts.com. Our Current Affairs Of August  2019 page covers various sections like banking & finance August Current Affairs 2019, business & economy, Indian and International affairs 2019, defense, environment current affairs, persons and many for Bank PO & Clerk Exams, Insurance, UPSC, SSC, Railway, State PSC & other Competitive Exams.

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RBI relaxes ECB norms

02 August 2019 Current Affairs: The Reserve Bank of India (RBI) has further relaxed the norms related to external commercial borrowing (ECB). It loosened the end-use restrictions with regard to working capital, general corporate purpose and repayment of rupee loans. The move comes  after RBI received feedback from stakeholders.

♦ As per the relaxation, all the eligible borrowers are allowed to raise following ECBs from recognised lenders with a minimum average maturity period of 10 years for working capital purposes and general corporate purposes. The foreign branches and overseas subsidiaries of Indian banks are exempted.

♦ It also permits borrowing for on-lending by NBFCs for the above maturity and end-uses.

♦ Borrowers are allowed to raise ECBs with a minimum average maturity period of 7 years for repayment of rupee loans that can be availed domestically for capital expenditure.

Postal department decides to convert India Post Payments Bank to a SFB

01 August 2019 Current Affairs: The postal department decided to convert the India Post Payments Bank into a small finance bank It is enabling it to offer small loans to customers..The department looks to open one crore accounts for IPPB in 100 days.

The decisions were taken at the annual Heads of Circles Conference. The conference held at Srinagar in Jammu and Kashmir from July 29-31, 2019.The main aim is to adopt a 100-day action plan and a five-year vision to align the Department of Posts with the Prime Minister’s New India initiative. The decision included “Converting the India Post Payments Bank (IPPB) into a Small Finance Bank (SFB).

CCD appoints SV Ranganath as interim chairman

Cafe Coffee Day Enterprises Ltd appointed SV Ranganath as interim chairman after the sudden death of its founder VG Siddhartha. Coffee Day also named Nitin Bagmane as interim chief operating officer (COO) approval by the board. Death of VG Siddhartha: Siddhartha, owner of Cafe Coffee Day was found on the banks of the Nethravathi river near Mangalore. His body was found after a massive 36-hour search operation.

Rajiv Kumar is appointed as the new finance secretary

01 August 2019 Current Affairs: Rajiv Kumar is appointed as the new finance secretary. The appointment was approved by the Appointments Committee of Cabinet (ACC). He is to head one of the key economic policy making divisions of the government the ministry of finance. He is expected Getting the NBFCs back on their feet is one major thing that needs to be taken up by the finance secretary.

PM chaired the th PRAGATI interaction

02 August 2019 Current Affairs: Prime Minister Narendra Modi headed the 30th PRAGATI platform interaction. PRAGATI is the Information and communications technology (ICT)- based, multi-modal platform for Pro-Active Governance and Timely Implementation. This is the first PRAGATI interaction of the new government.

In the session, Narendra Modi reviewed the progress in the resolution of grievances under Pradhan Mantri Awas Yojana (Urban). He urged to achieve the government’s objective of providing ‘Housing for All by 2022’. He also suggested further improvements under the Ayushmann Bharat Scheme.

He reviewed the progress of eight important infrastructure projects in the railway and road sectors spread over several states including Bihar, Uttar Pradesh, Madhya Pradesh, Maharashtra, Odisha, Himachal Pradesh and Gujarat.

 

Hegde Kageri to be the next speaker of Karnataka assembly

Vishweshwar Hegde Kageri, Senior BJP MLA, has been selected to become the next speaker of Karnataka assembly. He was the only candidate to file his nomination papers for the post on 30 July. The place fell vacant after K R Ramesh Kumar quit on 29 July. Vishweshwar Hegde Kager: Kageri is a six term MLA from Sirsi. He has also served as the Minister for Primary and Secondary Education in the BJP Government of Karnataka.

Cabinet approved the setting up of ISRO Technical Liaison Unit ITLU in Moscow

01 August 2019 Current Affairs: The Union Cabinet approved the setting up of ISRO Technical Liaison Unit (ITLU) in Moscow. The move comes as the India Space Research Organisation’s (ISRO) cooperation with Russia on the Gaganyaan project, India’s human space mission programme. The process has been planned to be completed within six months from the date of approval.

Kaleshwaram project secures Hyderabads water supply for the future

Hyderabad is facing any such issues in the foreseeable future even if there is low rainfall, all thanks to the Telangana government’s massive 80,190 crore Kaleshwaram lift irrigation project launched in June. The Hyderabad Metropolitan Water Supply and Sewerage Board (HMWSSB) supplies 462 million gallons per day (MGD) to the capital city from the Krishna (phase 1, 2 and 3) and Godavari (phase-1) projects, and the Osmansagar, and Himayat Sagar reservoirs.

Government aims to enrol million workers under PM pension scheme

01 August 2019 Current Affairs: Union government enrol around 150 million workers over the next three years under the scheme Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM). The pension scheme will benefit a large pool of people who earn less but form a large part of the labour market. The National Democratic Alliance (NDA) government is targeting the bottom of the pyramid through various policy interventions, realising that they are a significant political constituency.

Uttar Pradesh Assembly Fagu Chauhan sworn as new Bihar Governor

Fagu Chauhan, a six-time member of the Uttar Pradesh Assembly. He was sworn in as the 29th Governor of Bihar. He was administered the oath of office by Chief Justice of the Patna High Court Amreshwar Pratap Shahi. Fagu Chauhan won the assembly elections in 1996 and 2002. Mr Chauhan won for the fifth time in May 2007 on the BSP symbol he joined the BJP and won the assembly election for the sixth time from the same seat in March 2017. The function took place at the Raj Bhavan.

Ruhan Rajput honoured with Entrepreneur of the Year Award

Ruhan Rajput co-founder and Director of Einfolge Technologies Pvt Ltd was awarded the prestigious Entrepreneur Award 2019. The event was held at the JW Marriot Hotel, New Delhi. He won the award on 18 July in the category of ‘Entrepreneur of the Year in Service Business. Ruhan was acknowledged for his contributions and achievements in the business industry.

Australia Ellyse Perry becomes first cricketer to reach runs wickets in 1000

01 August 2019 Current Affairs: Australia all-rounder Ellyse Perry became the first cricketer to reach the rare milestone of scoring 1000 runs. She took 100 wickets in the T20 format. Perry (47 not out) and captain Meg Lanning (43 not out) to guide Australia to a seven-wicket win against England in the second T20 of the Women’s Ashes tour. Around 1000-run milestone for the all-rounder picked up her 100th wicket by dismissing. England’s Nat Sciver in the World T20 final in November last year. Former Pakistani all-rounder Shahid Afridi (1416 runs and 98 wickets) stands closest to achieving the feat. Bangladesh’s Shakib al Hasan got 1471 runs and 88 wickets. Australia Women unassailable lead 2-0 lead in the three-match T20 series.

Flipkart launched Samarth an online selling platform

02 August 2019 Current Affairs: Flipkart launched Samarth, an online selling platform. The initiative aimed to support artisans, weavers, etc, by on-boarding them and helping them in the process of selling on the internet.

The initiative will bring weavers, artisans and makers of handicrafts to its platform. It is expected that various communities will access to its Indian customer base of over 150 million. The company has plans to sell these products in the international market. Reports says that the Indian e-commerce market will exceed $100 billion by 2022.