29th  May Current Affairs 2019

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29th  May Current Affairs 2019

Daily GK Updates & Current Affairs for Government Exams

Government invites BIMSTEC leaders for swearing-in ceremony on May 30

29 May 2019 Current Affairs: Leaders of the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) invited for PM Modi’s swearing-in ceremony to be held on 30th May.

However, Bangladesh premier Sheikh Hasina will not attend the event due to her prior commitments.

Myanmar State Councillor Aung Saan Suu Kyi’s presence is also uncertain as she is travelling overseas.

Kyrgyzstan, the current chair of the Shanghai Cooperation Organisation (SCO), too, has been invited for the event.

Apart from India, BIMSTEC comprises Bangladesh, Nepal, Bhutan, Sri Lanka, Thailand and Myanmar. Indian-origin Mauritius PM Pravind Jugnauth, who visited India for Pravasi Bhartiya Divas in January, has also been invited for the May 30 event.

RBI extended time window for using the RTGS for customer transactions

29 May 2019 Current Affairs: The Reserve Bank of India (RBI) announced that the time-window for using the Real Time Gross Settlement System (RTGS) for customer transactions will be extended from 4:30 pm to 6 pm on all working days. It will be effective from June 1, 2019.

The current RTGS service window for customer transactions is available to banks from 8 a.m. to 4.30 p.m. on a working day.

Transactions will now take place under three windows:

1.8 am to 11 am

2.11 am to 1 pm

3.1 pm to 6pm

Charges for the transactions:

There shall be no charge for transactions between 8 am and 11 am.

A charge of Rs.2 will be levied on every transaction conducted between 11 am and 1 pm.

Rs.5 shall be charged for every transaction between 1pm and 6pm

Madhya Pradesh to tentatively have new UNESCO heritage site

29 May 2019 Current Affairs: Orchha town in Madhya Pradesh has a historical site with the Bundela dynasty architectural style.

The Archaeological Survey of India included that heritage town of Orchha in a tentative list of United Nations Educational, Scientific and Cultural Organization (UNESCO) world heritage sites. It was included in the proposal sent by the ASI to the UN body in April 2019.

UNESCO’s rules state that to be a part of the World Heritage sites, the heritage or historical site must first be on the tentative list. After making it to that list, yet another proposal is sent to the UNESCO.

Telangana to set up countrys first ‘Blockchain District’ in Hyderabad

29 May 2019 Current Affairs: Telangana released a draft blockchain policy to set up country’s first ‘Blockchain District’ in Hyderabad. Telangana released a draft blockchain policy to set up country’s first ‘Blockchain District’ in Hyderabad. It is aimed to create an ecosystem for major blockchain companies, start-ups for promoting research, innovation and industry collaboration.

Telangana Government signed an agreement with Tech Mahindra to set up the Blockchain district in 2018. The draft was released by Information Technology, Electronics and Communications (IT E&C) Department.

The main focus will be given to the sectors such as banking, financial services and insurance, pharmaceuticals and healthcare, government institutions and departments, logistics and supply chains.

The incentives like access to investments, subsidies, tax credits will be rolled out to attract enterprises, Small and Medium Enterprises and startups. Other incentives include 25% subsidy on lease rentals up to 5 lakh per annum for the first three years of operations.

100% reimbursement of State Goods and Services Tax (SGST ) for the first three years for startups with revenue less than 5 crore and along with one-time grant of Rs.l0 lakh, 75% subsidy in travel fare when the founders attend global conferences and 25% reimbursement on Internet charges would be provided.

SpiceJet became fourth Indian airline to have a 100 aircraft in its fleet

29 May 2019 Current Affairs: SpiceJet became fourth Indian airline to have a 100 aircraft in its fleet. Budget airline SpiceJet has added a new Boeing 737 aircraft to its fleet, taking its total strength to 100 aircraft.

India, Sri Lanka and Japan signed a deal to develop container terminal at Colombo

29 May 2019 Current Affairs: Sri Lanka, Japan, and India signed an agreement to jointly develop the East Container Terminal at the Colombo Port on 28th May. The joint initiative is estimated to cost between $500 million and $700 million.

The signing of the Memorandum of Cooperation (MoC) is significant, given that the countries had been negotiating the deal since last year with little success.

As per the agreement, the Sri Lanka Ports Authority (SLPA) retains 100% ownership of the East Container Terminal (ECT), while the Terminal Operations Company is jointly owned. Sri Lanka will hold a 51% stake in the project and the joint venture partners will retain 49%.

Motila Oswal AMC become the first Indian fund house to introduce WhatsApp transaction platform

29 May 2019 Current Affairs: Motilal Oswal Asset Management Company (AMC) become the first Indian fund house to launch WhatsApp transaction platform for mutual fund transactions for new as well as existing investors.

This enables investors to use WhatsApp to invest in any scheme from Motilal Oswal AMC. Investors can either invest lump sum or through SIPS.

Standard Chartered launched Trade A1 Engine in partnership with IBM

29 May 2019 Current Affairs: Standard Chartered launched Trade A1 Engine in partnership with IBM Standard Chartered in partnership with IBM has launched the Trade A1 Engine which will automate the high risk process of trade documentation.

It will enhance client experience through increased operational efficiency and strengthened operational control.

This newly launched Trade A1 Engine will replace the Traditional documentary trade consisting of millions of data elements in paper-based that to be reviewed through a largely manual process. 

Malaysia to send back hundreds of tonnes of imported plastic waste

29 May 2019 Current Affairs: The Malaysian government said that hundreds of tonnes of imported plastic waste will be shipped back to where it came from insisting that the country did not want to be a global dumping ground. The announcement was made by the Malaysian Minister for Energy, Science, Technology, Environment, and Climate Change Yeo Bee Yin.

The Ministry said 450 tonnes of contaminated plastic waste in 10 containers from Australia, Bangladesh, Canada, China, Japan, Saudi Arabia, and the United States will be shipped back. Plastic imports to Malaysia have tripled since 2016, to 8,70,000 tonnes in 2018. The Malaysian government also urged the developed countries to review their management of plastic waste and stop shipping garbage to developing countries.

Processing such materials produce toxic fumes. Villagers near the recycle plant are suffering from asthma and itchiness.