5 & 6 July Current Affairs 2019

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July Current Affairs 2019

Daily GK Updates & July Current Affairs for Government Exams

Welcome to Current Affairs Section of Instajobalerts.com. Our Current Affairs Of July 2019 page covers various sections like banking & finance July 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 fines 4 Public Sector Banks for violating KYC norms

Reserve Bank of India (RBI) imposed a penalty of Rs 1.75 crore on four public sector banks. The banks which includes PNB and UCO Bank for non-compliance with KYC requirement and norms.

This concept is used for opening of current accounts. Punjab National Bank, Allahabad Bank and UCO Bank fined Rs 50 lakh each.

The penalty of Rs 25 lakh imposed on Corporation Bank. Reserve Bank of India penalty imposed for non-compliance with certain provisions of directions issued by it on Know Your Customer norms. The anti money laundering standards and opening of current accounts are being carried out in the manner are being tagged here. This acton is mainly based on the deficiencies in regulatory compliance and is not intended to pronounce upon the validity of any transaction or agreement.

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Economic Survey for 2018-19 predicted a 7 percent GDP growth for financial year 2019-20

05 July 2019 Current Affairs: Union Finance Minister Nirmala Sitharaman tabled the Economic Survey for 2018-19 in the Parliament on 5 July. The survey predicted a 7% GDP growth for financial year 2019-20 as compared to 6.8% in 2018-19. The Economic Survey was prepared by Chief Economic Advisor KV Subramanian.

In the Second term of the NDA govt. PM Modi laid a goal to bring Indian economy to a $5 trillion economy by 2024-25. According to the Economic Survey, India needs to sustain a real GDP growth rate of 8%.

The report also said that India continued to remain the fastest-growing major economy in the world in 2018-19, despite a slight moderation in gross domestic product (GDP) growth from 7.2% in 2017-18 to 6.8% in 2018-19.

Uttar Pradesh govt launches toll-free CM helpline 1076

05 July 2019 Current Affairs: Uttar Pradesh government launched a toll-free Chief Minister helpline 1076.

This scheme will enable people from across the state to register their complaints and a time-bound action will be taken.

Chief Minister Yogi Adityanath will personally review the complaints every month. The people now don’t need to travel to Lucknow to lodge their complaints. The action will be taken against those who make false complaints. The CM helpline number 1076.The helpline will work 24×7 and anyone from any part of the state.

The 500-seater call center established for the helpline.The capacity to handle 80,000 inbounds and 55,000 outbound calls on a daily basis. The complainant when calls the helpline, he/she will get an SMS. The complaint sent to the department concerned.

RBI form panel to review supervisory framework for core investment companies

05 July 2019 Current Affairs: Reserve Bank of India (RBI) has set up a six-member working group to review the regulatory and supervisory framework for core investment companies (CICs). The panel will be headed by Tapan Ray, Non-Executive Chairman, CBI. The move comes as the corporate group structures becomes more complex and layered. The working group has been asked to submit its report by October 31, 2019.

Lately, the corporate group structures have become more complex involving multiple layering and leveraging, which has led to greater inter-connectedness with the financial system through their access to public funds. The governance framework of CICs need to be strengthened due to elevated recent developments.

Hima Das won the women’s 200m gold in the Poznan Athletics Grand Prix in Poland

05 July 2019 Current Affairs: Star Indian sprinter Hima Das won the women’s 200m gold in the Poznan Athletics Grand Prix in Poland. She was clocked 23.65s on her way to the 200m gold. This was Hima’s first competitive 200m race of the year 2019.

Karnataka Bank launches web tool for NPA recovery process named ‘Vasool So-Ft

Karnataka Bank launched a web tool named VASOOL SO-Ft (VASOOL SOFAST) for digitizing NPA recovery process. The tool will enable easy & faster processing, real-time information and immediate decision making in the recovery area.  The digital tool for the recovery of stressed assets will provide an end-to-end digital solution.  The faster processing and real time information and immediate decision making in the recovery area.

Centre signs MoU with IBM to utilize AI in agriculture

Government of India has signed a MoU with IBM India to use AI in agriculture. Under the pact, IBM will undertake a pilot study to utilise Artificial Intelligence (AI) and weather technology solutions in agriculture in one district each in three states. The agreement was signed in the presence of Agriculture Minister Narendra Singh Tomar and junior minister Kailash Choudhary, and other senior officials.

Airtel Payments Bank ties up with Bharti AXA Life Insurance to offer the Bharti AXA Life POS Saral Jeevan Bima Yojana

05 July 2019 Current Affairs: Airtel Payments Bank partnered with Bharti AXA Life Insurance to offer Bharti AXA Life POS (Point of Sale).

Saral Jeevan Bima Yojana, a pure life term insurance decided to plan up to Rs 5 lakhs.The scheme is aimed at the under-insured and uninsured segments in India. The policy available at all the Airtel Payments Bank’s 25,000 retail outlets. It will be expanded to cover over 60,000 banking points

The customers are offered the option of life cover between 3-5 lakh.The scheme further extended up to Rs 25 lakh.

Airtel Payments Bank partnered with Bharti AXA Life Insurance to offer the scheme Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY).

 

Amit Shah to launch BJP’s membership drive in Telangana

Union Home Minister Amit Shah visit Hyderabad to launch the nationwide membership drive. He will also attend a state-level meeting with the BJP leaders at Shamshabad. Around 5000 Membership-drive in-charges are expected to attend the meeting from Hyderabad, Ranga Reddy and Medchal districts in Telangana. Mr. Shah will visit the house of Soni Naik to give her party membership.  During the state-level meeting, several leaders are expected to join BJP in the presence of Amit Shah.

India ranks 86th in Most Powerful Passport index 2019 Japan and Singapore holds the top spot

Around 199 countries in the world based on their Visa-Free Scores showed that Indian passport ranked at 86th position with a mobility score of 58.  The report which is released by Henley Passport Index 2019 Japan and Singapore secured the joint top spot. It is the most powerful passports in the world  The passport scored a score with 189. South Korea holds second place on the index along with Finland and Germany. It is followed by Denmark, Italy, and Luxembourg.

South Central Railway has commissioned the longest electrified tunnel

06 July 2019 Current Affairs: South Central Railway has commissioned the longest electrified tunnel. It measures 6.6 Kms between Cherlopalli and Rapuru stations. The tunnel is a part of the recently completed Obulavaripalli–Venkatachalam new railway line.