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4th April Current Affairs 2019 | Daily GK Updates | Current Affairs for Government Exams

Current Affairs 2019 | Daily GK Updates & Current Affairs for Government Exams

President Ram Nath Kovind visit to Chile

President Shri Ram Nath Kovind, reached Santiago, Chile in the evening of 30th March, 2019. This was the final leg of his visit to three nations – Croatia, Bolivia and Chile.

Ram Nath Kovind has addressed the India-Chile Business Forum in Santiago. Both the countries agreed to work together to expand their trade basket and open new pathways for economic engagement in areas such as marine research and other scientific exploration. India has been keen to strengthen its collaboration with Chile in the space sector

113 mn people of 53 countries faced severe hunger in 2018, as per Global Report on Food Crises 2019

In accordance with the annual 2019 Global Report on Food Crises, around 113 million people across 53 countries faced severe huger in 2018. In comparison to the figures of 2017, the number is reduced from 124 million but it requires urgent humanitarian assistance

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RBI sets WMA Limit for Government at Rs 75000 crore for the first half of the FY 2019-20

The Reserve Bank of India has set the limits for Ways and Means Advances (WMA) to Rs. 75000 crore for the first half of the financial year 2019-20.

As and when the government of India utilises 75% of the WMA limit, the central bank would activate fresh floatation of market loans.

The rate of interest issued on the Ways and Means Advances (WMA) will be Repo Rate while the overdraft will exceed the Repo Rate by flat 2%

First Bi-monthly Monetary Policy Statement for 2019-20-RBI cuts repo rate by 25 basis points On 6th April 2019, Reserve Bank of India(RBI)’s six-member monetary policy committee chaired by RBI Governor Shaktikanta Das released its 1st Bi-Monthly Monetary Policy for 2019-20.

RBI has reduced 0.25 basis points in the Policy Rates under liquidity adjustment facility (LAF) with immediate effect.The Change in Policy rates are as follows:

Policy Rates1st Bi-Monthly Monetary Policy 2019-2020(Apr-2019)6th Bi-Monthly Monetary Policy(Feb 2019)
Repo Rate6.00 %6.25%
Reverse Repo Rate5.75 %6.00%
Marginal Standing Facility Rate6.25 %6.50%
Bank Rate6.25 %6.50%
Reserve Ratios1st Bi-Monthly Monetary Policy 2019-2020(Apr 2019)6th Bi-Monthly Monetary Policy(Feb 2019)
Cash Reserve Ratio(CRR)4%4%
Statutory Liquidity Ratio(SLR)19.25%19.25%

 

RBI makes NPA divergence rule easier for banks.

Reserve Bank of India (RBI) has altered the bad loan divergence rule for banks which aims at improving transparency in asset classification and preventing under-reporting of bad loans.

Key Points:  The RBI brought leniency in its rule on 1st April, 2019

by asking banks to disclose bad loan divergences in their financial statements

Condition:Additional provisioning if divergence exceeds 10% of profit prior to provision and contingencies.

Earlier the central bank had informed that banks were to make suitable disclosures only when –the mandated provisioning by the RBI exceeded 15% of the net profits after taxfor the reference period.

RBI thus improved upon the additional provisioning requirements.

The RBI announced that disclosures have to be made –

Condition:Additional gross NPAs if material divergence exceeds 15% of the reported gross NPAs for the reference period.

 US approves the sale of 24 MH-60 ‘Romeo’ Seahawk helicopters to India for $2.6 bn At an estimated cost of $2.6 billion, the United States has approved the sale of 24 multi-mission Lockheed Martin-built MH-60 ‘Romeo’ Seahawk helicopters to India. These choppers designed for targeting ships, hunting submarines and conducting search-and-rescue operations at sea would replenish the age-old fleet of British-made Sea King helicopters used by India.

UAE honours PM Modi with the highest civilian honour, Zayed Medal

On the 3rd of April, 2019, UAE honoured PM Narendra Modi with its highest civilian award, the Zayed Medal for boosting the bilateral ties between both of the nations.

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Vipin Anand has been appointed as the new Managing Director of LIC 

Vipin Anand has assumed the charge of Managing Director of the Life Insurance Corporation of India (LIC). In March 2019, he was appointed by Centre as the LIC MD.Vipin Anandi. In the tenure of more than 35 years, he served as the head of LIC’s western zone, comprising of 23 divisions. He has also headed LIC’s east-central zone headquartered at Patna.

Vinod Dasari was appointed as Royal Enfield CEO

Vinod K. Dasari has been appointed as Chief Executive Officer (CEO) of Royal Enfield and also he became an executive director in the board of Eicher Motors.

Former Bollywood Actress, Mayoori kango has appointed the Industry Head of Google India

Ex-Bollywood actress and Managing Director of Performics (A Performance Marketing Agency), Mayoori Kango has been appointed as the Industry head of Google India. She will lead Google engagement with Publicis (Parent Company of Performics) and DAN.

 

 

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