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CURRENT AFFAIRS: INTERNATIONAL
New ‘rhino bonds’ to allow investors to help with wildlife conservation
- Investors will able to buy bonds that aim to increase the population of the endangered black rhino, and reward investors only when the numbers of these animals rise.
- The $50 million Rhino Impact Bonds (RIB) will be the world’s first financial instrument working toward the conservation of a species at the risk of extinction.
- The Rhino Impact Bond (RIB) is the world’s first financial instrument for species conservation, transferring the risk of funding conservation from donors to impact investors by linking conservation performance to financial performance.
- The bond, expected to launch in the first quarter of 2020, looks to boost the black rhino population by 10% globally.
CURRENT AFFAIRS: NATIONAL
Ambikapur launches India’s first garbage café
- By launching India’s first garbage cafe, Ambikapur, a city in the state of Chhattisgarh, is bringing out the ‘best out of waste’.
- This innovative idea birthed by the Municipal Corporation will not only tackle the ever rising problem of waste management but will also address the issue of food access to the poor and homeless.
- Under this program, any person fetching a kilo of plastic waste to the garbage cafe will be assured of a full meal while those collecting at least 500 grams will benefit from a substantial breakfast.
- The city of Ambikapur ranked second cleanest city in India after Indore.
Harsh Vardhan launches public awareness campaign to control of vector-borne diseases in Delhi
- Union Minister for Health and Family Welfare, Dr Harsh Vardhan emphasised on the need of community efforts in the right direction to help in preventing Vector-Borne Diseases (VBDs) such as Malaria, Dengue and Chikungunya.
- Vardhan launched the ‘Jagrukta Abhiyaan’, a three-day public awareness campaign on prevention and control of VBDs.
- A total of 286 ward-wise teams have been constituted with 20-25 members per team including officers of the Municipal Corporation along with the officers from Central Government and government of NCTD (National Capital Territory of Delhi).
CURRENT AFFAIRS: STATE
Tamil Nadu Now Has 35 Districts as CM Palaniswami Announces Two New Districts
- Tamil Nadu Chief Minister K Palaniswami announced that Tenkasi and Chengelpet districts would be carved out of Tirunelveli and Kanchipuram respectively, taking the total number of districts in the state to 35.
- In January, the government had announced Kallakurichi district, the 33rd in the state, by bifurcating regions from Villupuram district.
USEFUL INFO |
Tamil Nadu Capital | Chennai |
CM | E. Palanisamy |
Governor | Banwarilal Purohit |
Maharashtra raises aid for martyrs’ kin to ₹1 crore from ₹25 lakh
- The Maharashtra Cabinet approved a four-fold increase in the financial assistance given to families of martyred and disabled soldiers hailing from the state.
- Kin of martyred soldiers will now get ₹1 crore as opposed to the current ₹25 lakh. The government will provide ₹60 lakh to soldiers left 51-100% disabled, instead of the current ₹15 lakh.
USEFUL INFO |
Maharashtra Capital | Mumbai |
CM | Devendra Fadnavis |
Governor | Chinamani Vidyasagar Rao |
Haryana to set up Sports University near Sonipat
- Haryana sports and youth affairs minister Anil Vij announced that the Sports School, Rai (Sonipat), will be upgraded to a Sports University, the State Cabinet approved the proposal. To be named the Sports University of Haryana, this will be the first full-fledged sports university in the state.
- The Sports University of Haryana will be the third sports university established by a state government in India after Swarnim Gujarat Sports University (Gandhinagar) and Tamil Nadu Physical Education and Sports University (Chennai). In 2018, the union cabinet had given the go ahead to set up the country’s first National Sports University in Imphal, Manipur.
USEFUL INFO |
Haryana Capital | Chandigarh |
CM | Manohar lal Kathar |
Governor | Satyadev Narayan Arya |
CURRENT AFFAIRS: BANKING AND FINANCE
ICICI Bank launches digital banking platform ‘InstaBIZ’ for MSMEs
- ICICI Bank announces the launch of a new digital platform curated specially for MSMEs and self-employed customers to enable them to undertake their business banking transactions digitally and instantly. Called, ‘InstaBIZ’, it allows customers to avail as many as over 115 products and services in a digital and secure manner on their mobile phone or internet banking platform.
- Many of the services are first-in-the-industry and are available instantly. With this, MSMEs can now enjoy enhanced convenience and productivity, as they can complete their banking transactions ‘on-the-go’, without visiting a bank branch.
- This first-of-its-kind comprehensive digital platform for businesses enables them to experience the convenience of a range of services completely digitally —instant overdraft facility (upto Rs 15 lakh) & business loans, easy bulk collection & payments of funds through multiple digital modes, automatic bank reconciliation and undertake largely all of the export-import transactions like inward and outward remittances among others.
- It is the first digital banking platform to enable instant payment of GST using the challan number in a single click payment. Additionally, they can instantly apply for a Point-of-Sale (PoS) machine as well as instant marine insurance policy—both industry first services.
ICICI Bank Headquarters | Mumbai |
Tagline | Hum Hain Na! |
MD & CEO | Sandeep Bakhshi |
IRDAI tweaks norms for life insurance products
- The Insurance Regulatory and Development Authority of India (IRDAI) has tweaked some of the key norms pertaining to life insurance products.
- As per the Gazette notification, issued by the regulatory, the minimum death benefit in the non-linked policy has been decreased from 10 times to seven times. In the non-linked policy, policyholders will get a fixed amount if the policy is surrendered after two years.
- The revival period for this policy has been increased from two years to five years.
- In the Unit-Linked Policies, if it has a surrender value during the first five years, it will become payable only after the completion of the lock-in period. After the lock-in period, the surrender value shall be at least equal to the fund value as on the date of surrender.
- With regards to pension products, policyholders can withdraw 25 per cent of the insured during an emergency, including a serious illness, marriage and the education of their children.
USEFUL INFO |
IRDAI- Regulatory and Development Authority of India |
Chairperson | Subhash Chandra Khuntia |
IRDAI Headquarters | Hyderabad |
CURRENT AFFAIRS: BUSINESS AND ECONOMY
L&T Infotech to Take Over AI Firm Lymbyc Solutions for Rs 38 Crore
- Larsen and Toubro Infotech Ltd, the technology services arm of Larsen and Toubro, has signed a definitive agreement to acquire Bengaluru-headquartered Lymbyc Solutions Pvt. Ltd for Rs 38 crore.
- Lymbyc is a Bengaluru-based specialist artificial intelligence (AI) machine learning and advanced analytics company with customers in the US, the UK, Africa and India. Its acquisition will further strengthen L&T Infotech’s digital and analytics offerings. Before Lymbyc’s acquisiton, both companies had worked as strategic partners for a year.
CURRENT AFFAIRS: AWARDS AND HONOUR
East Bengal to confer Kapil Dev with Bharat Gaurav award
- City soccer giants East Bengal will confer their highest honour, Bharat Gaurav, on India”s first World Cup winning captain Kapil Dev on their foundation day on August 1.
- The red and gold brigade also wants to host a ceremonial farewell match for football icon Bhaichung Bhutia who expressed his desire to don the East Bengal colours one final time, eight years after calling it a day from international football.
- Kapil had signed for East Bengal on June 22, 1992, and played for 27 minutes six days later as a substitute forward in an exhibition match against arch-rivals Mohun Bagan.
CURRENT AFFAIRS: DEFENCE
INS Sagardhwani embarks on mission Sagar Maitri
- INS Sagardhwani, an oceanographic research vessel of the Defence Research and Development Organisation, embarked on a two-month-long Sagar Maitri Mission-2 from Southern Naval Command in Kochi.
- Sagar Maitri is a unique initiative of the DRDO which aligns with the broad objective of Prime Minister Narendra Modi’s policy declaration ‘Safety And Growth for All in the Region’ (SAGAR) to promote closer cooperation in socio-economic aspects as well as greater scientific interaction, especially in ocean research among Indian Ocean Rim (IOR) countries.
- The other IOR countries include Oman, the Maldives, Sri Lanka, Thailand, Malaysia, Singapore, Indonesia and Myanmar.
- The programme also aims at establishing long-term scientific collaboration with these countries in the field of ‘Ocean Research & Development’ and data collection with a focus in the Andaman Sea.
CURRENT AFFAIRS: BOOKS AND AUTHORS
New book to tell untold stories from Kargil War
- On the 20th anniversary of the Kargil War, a new book will revisit the freezing battle grounds of the 1999 conflict through untold stories of its bravest soldiers.
- Titled, “Kargil: Untold stories from the War”, the book published by Penguin Random House, is authored by Rachna Bisht Rawat.
- The book that is based on Rawat’s interviews with war survivors and martyrs’ families, will take the readers to the treacherous Himalayan mountains where some of the Indian Army’s bloodiest battles were fought.
CURRENT AFFAIRS: SPORTS
ICC suspends Zimbabwe Cricket with immediate effect
- The International Cricket Council, ICC has suspended Zimbabwe Cricket with immediate effect over violation of global body’s constitution which doesn’t allow any government intervention
USEFUL INFO |
ICC Headquarters | Dubai, United Arab Emirates |
Chairperson | Shashank Manohar |
CEO | Manu Sawhney |
Sachin Tendulkar inducted into ICC Hall of Fame
- Sachin Tendulkar has been inducted into the International Cricket Council’s Hall of Fame alongside South African pace legend Allan Donald
- He was 6th Indian to be inducted into ICC Hall of Fame. Rahul Dravid was the previous Indian to be inducted on the list in 2018
- Joining Tendulkar and Donald in the Hall of Fame was two-time World Cup-winning Australian woman cricketer Cathryn Fitzpatrick.
- Tendulkar, the most prolific batsman in history, was inducted immediately after becoming eligible for induction, which requires that a player should have played his last international match at least five years before.
CURRENT AFFAIRS: OBITUARY
South African musician Johnny Clegg passes away
- South African singer and songwriter& a Grammy nominee Johnny Clegg passed away after battling with pancreatic cancer. He was 66.
- He was a billboard music award winner known by many South Africans as “umlungu omnyama”, or “the black-white person”.
Bengali cinema veteran actor Swarup Dutta passes away
- Swarup Dutta, Veteran Bengali actor known for his performances in Bengali films such as “Pita Putra” and “Harmonium” passed away due to age-related ailments in Kolkata. He was 78.
- Datta had worked in many films in Bengali cinema in the 1960s and ’70s. He started his film career with Tapan Sinha’s Apanjan.