5th February 2020 Current Affairs
National Affairs
Ministerial-level Defence dialogue between India and South Korea held in New Delhi
Ministerial-level Defence dialogue between India and South Korea was held in New Delhi. where Defence Minister Rajnath Singh and Jeong Kyeong-doo, Minister of National Defense of South Korea discussed many important issues & affirmed to deepen bilateral defence cooperation between the two countries.
In 2019, Singh had visited South Korea & had inked 2 MoUs(memorandum of understanding) to further boost defence cooperation.
About South Korea:
- President– Moon Jae-in
- Currency– South Korean won
- Capital– Seoul
MSME implemented new scheme SFURTI to set up traditional industries clusters
The Ministry of Ministry of Micro, Small and Medium Enterprises (MSME) implemented a new scheme named “Scheme of Fund for Regeneration of Traditional Industries”(SFURTI). Under this scheme, financial support will be given to set up traditional industries clusters viz. Khadi, Coir & Village industries clusters.
The objectives of the SFURTI Scheme are:
- To develop clusters of traditional industries in the country over a period of five years.
- To make traditional industries more competitive, market-driven, productive and profitable.
- To strengthen the local governance system of industry clusters, with active participation of the local stakeholders, so that they are enabled to development initiatives.
- To build up innovated and traditional skills, improved technologies, advanced processes, market intelligence and new models of public-private partnerships, so as to gradually replicate similar models of cluster-based regenerated traditional industries.
About MSME:
- Founded- 2007.
- Headquarters- New Delhi.
- Union Minister- Shri Nitin Jairam Gadkari.
International Affairs
72nd Independence Day celebrated by Sri Lanka
Sri Lanka celebrated its 72nd Independence Day on 4th February 2020. On this day, Sri Lanka became an independent nation after getting independence from Britain. Military parades and air shows were the most attractive points of the Sri Lankan Independence Day celebrations held in Colombo.
About Sri Lanka:
- PM: Mahinda Rajapaksa.
- President: Gotabaya Rajapaksa.
- Currency: Sri Lankan Rupee
Bhutan ends free entry for Indian tourists
The government of Bhutan has decided to levy a daily Rs.1,200 ($17) fee for regional tourists from India, the Maldives and Bangladesh, beginning July 2020. The fee, called a Sustainable Development Fee (SDF), is meant to help the government deal with burgeoning numbers in tourist traffic, which it is seeking to regulate through a new tourism policy.
The decision was passed by the National Assembly as a ‘Tourism Levy and Exemption Bill of Bhutan’, 2020. The SDF is considerably lower than the Rs.65 charged to other foreign tourists, who are also charged a compulsory flat “cover charge” of Rs.250 per day.
About Bhutan:
- Capital- Thimphu.
- Currency- Ngultrum.
- Prime Minister (PM)- Lotay Tshering.
State Affairs
Andhra Pradesh:
AP Govt made history with ‘Intivadhakey Pension’ scheme by covering 94 % within few days
The Andhra Pradesh (AP) state Government led by its Chief Minister(CM) Yeduguri Sandinti Jaganmohan Reddy,has created a record with its ‘Intivadhakey Pension’ (Pension to your Doorstep) Scheme by covering 94 % of about 60 lakh pensioners at their doorstep within a few days. The scheme was launched in 13 districts on February 1, 2020. AP is the 1st state in India to take up such an initiative of Door delivery of pension service.
About Andhra Pradesh:
- Capital City- Amaravati
- Chief Minister – Jagan Mohan Reddy
- Governor– Biswabhusan Harichandan.
Banking & Finance
Cabinet approves amendments to bring co-operative banks under RBI
Union Cabinet has decided to bring Cooperative banks under the regulatory mechanism of Reserve Bank of India. The move will ensure greater accountability and transparency in the functioning of Cooprative Banks.
The cabinet also approved the IIIT Laws Amendment Bill 2020. Five IIITs in the PPP mode at Surat, Bhopal,Bhagalpur, Agartala and Raichur will be declared as institutions of National importance.
RBI hikes Insurance cover on bank deposits to Rs 5 lakh from Rs 1 lakh
India’s central bank, the Reserve Bank of India (RBI) has increased the Insurance cover on bank deposits to Rs 5 lakh from Rs 1 lakh effective from February 4, 2020 with a view to giving protection to depositors.
The cover is provided by a wholly owned subsidiary of the RBI, the Deposit Insurance and Credit Guarantee Corporation (DICGC).The DICGC does not directly charge any premium from the depositor on this insurance. So Now Banks will pay a premium of 12 paise against 10 paise per Rs 100 deposit.
About RBI:
- Headquarters– Mumbai, Maharashtra
- Formation– 1 April 1935
- Governor– Shaktikanta Das
Appointments
Albin Kurti appointed new Prime Minister of Kosovo
Albin Krti has been named as Kosovo’s prime minister. He was named PM after his left-wing Vetevendosje party forged a coalition with the centre-right Democratic League of Kosovo (LDK).
Kurti’s government was supported by 66 out of 120 votes, while 10 MPs abstained from voting.The Prime Minister of the Republic of Kosovo is the head of government of Kosovo.
About Kosovo:
- Capital – Prishtina
- Currency – Euro
Gopal Baglay appointed Indian High Commissioner to Sri Lanka
Gopal Baglay has been appointed as the next High Commissioner of India to the Democratic Socialist Republic of Sri Lanka. He will replace Taranjit Sandhu, who has been appointed as Indian Ambassador to U.S. Currently Baglay serving as Joint Secretary at the Prime Minister of India’s (PMO) Office.
About Sri Lanka:
- Currency: Sri Lankan rupee.
- President: Gotabaya Rajapaksa.
- Prime Minister: Mahinda Rajapaksa.
Pramod Agrawal takes over as Coal India chairman
Pramod Agrawal assumed charge as the new chairman and managing director of Coal India Ltd, Agrawal, a 1991 batch IAS officer, was principal secretary for urban development and housing department in Madhya Pradesh.
He took over after A K Jha retired as the CIL chairman on January 31.
About Coal India Limited:
- Headquarter of Coal India: Kolkata, West Bengal.
Ranks and Reports
TTCSP releases 2019 Global Go To Think Tank Index Report
Think Tanks and Civil Societies Program (TTCSP) of the Lauder Institute at the University of Pennsylvania has released the 2019 Global Go To Think Tank Index Report. India’s Observer Research Foundation (ORF) has been ranked at 27th position among 176 global think tanks (U.S. and non-U.S.). It was ranked at 118th position in the 2018 Global Go To Think Tank Index Report.
Awards
Big Bang Boom Solutions wins prestigious SKOCH Award
India’s fastest growing start-up in the defence sector, Big Bang Boom Solutions Pvt Ltd (BBBS) was accorded the prestigious SKOCH award. Big Bang Boom Solutions was conferred with the highest individual honour for Boron Nitrate Based Personal Hybrid Combat Armour. BBBS was the first company to consolidate Artificial Intelligence (AI) with the defense sector.
The Skoch Award was instituted in 2003, and is the highest civilian honour in the country conferred by an independent organisation. The award is contributed to the best efforts in the area of digital, financial and social inclusion.
About BBBM:
- CEO (Chief Executive Officer)- Praveen Dwarakanath.
Sports News
NADA suspends two Indian athlete
The National Anti-Doping Agency (NADA) has suspended weightlifter Ramshad AR for a period of 2 years after being found guilty of violating the anti-doping rule. He was examined by the Doping Control Officer of NADA during the 71st Men’s National Weightlifting Championship. In addition to this, NADA has also banned Indian wrestler Ravinder Kumar for 4 years for failing a dope test.
About NADA:
- Director-General – Navin Agarwal.
- Founded – 24 November 2005; Motto- Play fair.
- Headquarters: New Delhi.
Obituaries
Illustrious Punjabi writer Jaswant Singh passes away
Famous Punjabi writer Jaswant Singh Kanwal recently passed away at his native village. His novels are loved by several readers across the country. The novelist was a recipient of the country’s highest literary honor, Sahitya Akademi Award in 1977 for his famous novel ‘Taushali Di Hanso’. He has aut hored more than 100 novels, which mainly focus on agrarian crisis, caste barrier and women empowerment. He was also called as the ‘Writer of movements
Former Karnataka Minister D. Manjunath passed away at 92
Former Karnataka Minister D. Manjunath, 92 years old passed away in Karnataka, Bengaluru due to age-related ailments.He was born on 26th August 1928 at Jajoor Village, Challakere Taluk, Karnataka and joined the janata party in 1977.He was the chairman of the Karnataka Legislative Council in 1987 & also minister in various governments.
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