27th July 2019 Current Affairs

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PM-LVMY Yojana launched by Labour ministry

  • Pradhan Mantri Laghu Vyapari Maan-Dhan Yojana (PM-LVMY) was launched by the Union labour and Employment ministry for retailers and small traders.
  • This scheme provides a minimum monthly pension of Rs 3000/month to small shopkeepers, retail traders, and the self-employed people after they attain 60years of age.
  • It is an extension of Pradhan Mantri Shram Yogi Maan-dhan (PM-SYM).

Note:

About Labour ministry

Officeholder: Santosh Gangwar

Jurisdiction: India

Headquarters: Rafi Marg, New Delhi

Inaugural holder: Jagjivan Ram

Rural Development Ministry implements Deendayal Antyodaya Yojana

  • Deen Dayal Antyodaya Yojana (DAY) with an aim to uplift the urban poor folks by enhancing sustainable livelihood opportunities through skill development.
  • Keeping in view the objective of Make in India, Skill Development is essential for socio economic betterment. Deen Dayal Antyodaya Yojana was launched under the Ministry of Housing and Urban Poverty Alleviation (HUPA).
  • Government of India has provisioned Rs.500 crore for the scheme.
  • The scheme is integration of the National Urban Livelihoods Mission (NULM) and National Rural Livelihoods Mission (NRLM).

Note:

About HUPA:

HUPA: Housing and Urban Poverty Alleviation

Founded: 27 May 2004

Headquarters: New Delhi

Jurisdiction: India

Combat veteran, Dr Samir Rawat first officer invited to Congress of Psychology in Prague in 2020

  • Col. Dr. Samir Rawat, a military psychologist who was also in ‘operation Vijay’ conducted by the Indian army in Kargil, has been invited as the keynote speaker to give a speech on psychology at the 32nd International Congress of Psychology(ICP)  in Prague, Czech Republic, in which over 8000 delegates are participating in the biggest international event.
  • He acknowledges his personal and professional growth as a result of fleeting opportunities that the military provided and considers himself extremely fortunate and lucky to have survived so many near-death experiences in battle, just as he was plain lucky to have come back alive after two volunteer tenures in Operation Meghdoot in the Siachen Glacier.

Note:

About Czech Republic

Capital: Prague

Currency: Czech koruna

Committee to examine FDI issue in e-commerce constituted by the government

  • Foreign Direct Investment (FDI) in e-commerce in recent times became a confusing/complex network to understand.
  • Hence the government set up a separate committee to examine issues related to FDI in e-commerce.
  • A draft national e-commerce policy covering various areas of e-commerce, has been prepared and placed for comments in public domain.
  • The Government has also introduced National Policy on Electronics (NPE) and National Policy on Software Products (NPSP) in 2019 for the growing digital economy.

RBI panel recommends an increase in collateral-free lending, MUDRA loan limit to Rs 20 lakh: Nitin Gadkari

  • On July 25, 2019, The Union Minister for MSMEs(Micro, Small and Medium Enterprises), Nitin Gadkari stated that a panel of RBI(Reserve Bank of India) has recommended an increase in the collateral-free lending limit to Rs 20 lakh for MSMEs and self-help groups(SHG).
  • The panel also recommended revision of loan limit sanctioned under MUDRA (Micro Units Development and Refinance Agency) to Rs 20 lakh from Rs 10 lakh.
  • The RBI panel had submitted its report last month stating that portfolio guarantee through NCGTC for all such collateral free MSME loans may be increased i.e. proportion of guarantee coverage should be increased to 66.6-75 percent from 50 percent.

Note:

About RBI

Headquarters: Mumbai

Founder: British Raj

Founded: 1 April 1935, Kolkata

Governor: Shaktikanta Das

Bankruptcy board tightens norms governing resolution professionals

  • On July 24, 2019, Insolvency and Bankruptcy Board of India (IBBI), the regulator for overseeing insolvency proceedings has tightened norms governing resolution professionals wherein restrictions will also be in place for their relatives from taking up employment after completion of a resolution process.
  • They would also be barred from having employment when they are in possession of authorization to take up work under the insolvency law.
  • An insolvency professional should not undertake any assignment unless he or she holds an ‘Authorisation for Assignment’ issued by the insolvency professional agency concerned.
  • This would be effective from January 1, 2020, according to a release.

Note:

About IBBI

Founder: Parliament of India

Founded: 1 October 2016

Headquarters: Delhi, New Delhi

GST Council trims rate on EVs, chargers

  • The GST Council has decided to reduce the tax rate on electric vehicles (EVs) to 5 per cent from the existing 12 per cent, a move aimed at accelerating the adoption of eco-friendly mobility solutions.
  • The new GST rate on EVs will be effective from August 1, the finance ministry said after the 36th meeting of the GST Council.
  • The GST rate on all EVs has been reduced from 12 per cent to 5 per cent.
  • Additionally, the tax rate on chargers or charging stations for EVs has been slashed from 18 per cent to 5 per cent.

Nuwan Kulasekara, Sri Lanka pacer retires from international cricket

  • Sri Lanka pacer, Kulasekara Mudiyanselage Dinesh Nuwan Kulasekara aged 37 announced retirement from international cricket.
  • He hails from Nittambuwa, Sri Lanka.
  • Kulasekara is known for swinging the ball both way and is the third-highest ODI wicket-taker for Sri Lanka.
  • He is only behind Chaminda Vaas and Lasith Malinga.

Note:

About Sri Lanka

Prime minister: Ranil Wickremesinghe

Currency: Sri Lankan rupee

China’s Tiangong-2 spacecraft destroyed upon its controlled re-entry into Earth’s atmosphere over the Pacific Ocean

  • On July 19, 2019, According to the China Space Agency, China’s experimental space lab “Tiangong-2” was destroyed upon its controlled re-entry into Earth’s atmosphere over the Pacific Ocean.
  • The space state was retired from service after it had completed its experiments in space.
  • During the re-entry phase, most of Tiangong-2 had burnt up in the atmosphere and its remaining debris fell near Point Nemo, the most remote location on Earth.

Note:

About China

Currency: Renminbi

Capital: Beijing

Population: 138.64 crores (2017) World Bank

President: Xi Jinping

India conducted 1st ever simulated space war exercise,” IndSpaceEx”

  • The three armed forces of India (Army, Navy, and Air Force) conducted 1st ever simulated space warfare exercise called “IndSpaceEx” on July 25, 26, 2019.
  • The 2-day exercise aims to assess requisite space and counter-space capabilities that are needed by India.
  • It will also help India to better grasp strategic challenges in space that need to be handled.

Note:

About Air Force

Founded: 8 October 1932

Country: India

Headquarters: New Delhi

Motto(s): नभः स्पृशं दीप्तम्

Commander-in-Chief President Ram Nath Kovind

President of Tunisia, Beji Caid Essebsi passed away in Carthage, Tunisia

  • On 25th July 2019, The President of Tunisia and the North African country’s first democratically elected leader, Beji Caid Essebsi passed away at the age of 92 in Tunis, Tunisia after suffering from a severe health crisis.
  • He was born in Sidi Bou Said, Tunisia.

Note:

About Tunisia

Capital: Tunis

Currency: Tunisian dinar

BS Yediyurappa sworn-in as Chief Minister of Karnataka

  • On 26th July 2019, Karnataka’s Bharatiya Janata Party(BJP) state President Bookanakere Siddalingapp (BS) Yediyurappa was sworn in as the 19th Chief Minister of Karnataka.
  • He succeeded H. D. Kumaraswamy of Janata Dal (Secular) party.
  • The council of ministers will take oath later as the BJP is said to be still in the process to finalise the names of MLAs who would be part of the Yediyurappa government.
  • Yediyurappa has to prove his government’s majority in a week’s time.

Note:

About Karnataka

Governor: Vajubhai Vala

Capital: Bengaluru (Executive Branch)

Literacy (2011): 75.36%

 Economy – 4th largest state economy in India.

List of Dams- Almatti Dam, Basava Sagara Dam(Narayanpur Dam), Linganamakki Dam, Kadra Dam.

List of Stadiums- Sree Kanteerava Stadium, Srikantadatta Narasimha Raja Wadeyar Ground, M Chinnaswamy Stadium.

AAI signed up with Aireon for aircraft surveillance over the Indian ocean

  • On July 25,2019, A statutory body working under the Ministry of Civil Aviation, Airports Authority of India(AAI) has signed MoU (memorandum of understanding) with Aireon, USA, a global aircraft tracking body, for implementation of Space-Based Automatic Dependent Surveillance-Broadcast data (ADS-B) services for the oceanic regions of the Indian flight information regions (FIRs).
  • The agreement was signed by Mansoor Ahmed, ED (CNS-P), Airports Authority of India and Don Thoma, President and CEO, Aireon in the presence of Chairman of Airports Authority of India, Guruprasad Mohapatra in New Delhi.
  • The ADS-B data services will provide the real-time surveillance of airplanes over oceans falling in Indian Airspace.

Note:

About AAI

AAI: Airports Authority of India

Headquarters: New Delhi

Founded: 1 April 1995

Try out the quiz ?

1. Pradhan Mantri Laghu Vyapari Maan-Dhan Yojana (PM-LVMY) has launched by which ministry?

Correct! Wrong!

Pradhan Mantri Laghu Vyapari Maan-Dhan Yojana (PM-LVMY) was launched by the Union labour and Employment ministry for retailers and small traders.

2. Deen Dayal Antyodaya Yojana has launched by which ministry?

Correct! Wrong!

Deen Dayal Antyodaya Yojana (DAY) with an aim to uplift the urban poor folks by enhancing sustainable livelihood opportunities through skill development. Keeping in view the objective of Make in India, Skill Development is essential for socio economic betterment. Deen Dayal Antyodaya Yojana was launched under the Ministry of Housing and Urban Poverty Alleviation (HUPA).

3. Where 32nd International Congress of Psychology(ICP) will be oraganised?

Correct! Wrong!

Lt.Col. Dr. Samir Rawat, a military psychologist who was also in ‘operation Vijay’ conducted by the Indian army in Kargil, has been invited as the keynote speaker to give a speech on psychology at the 32nd International Congress of Psychology(ICP) in Prague, Czech Republic, in which over 8000 delegates are participating in the biggest international event.

4. What is the full form of NPSP?

Correct! Wrong!

Foreign Direct Investment (FDI) in e-commerce in recent times became a confusing/complex network to understand. The Government has also introduced National Policy on Electronics (NPE) and National Policy on Software Products (NPSP) in 2019 for the growing digital economy.

5. The Union Minister for MSMEs has recommended an increase in the collateral-free lending limit for MSMEs and (SHG). What is the full name of SHG?

Correct! Wrong!

The Union Minister for MSMEs(Micro, Small and Medium Enterprises), Nitin Gadkari stated that a panel of RBI(Reserve Bank of India) has recommended an increase in the collateral-free lending limit to Rs 20 lakh for MSMEs and self-help groups(SHG).

6. Insolvency and Bankruptcy Board of India (IBBI) has tightened norms for governing resolution professionals. This would be effective from which date?

Correct! Wrong!

Bankruptcy board tightens norms governing resolution professionals. This would be effective from January 1, 2020, according to a release.

7. What is the new GST rate for electric vehicles?

Correct! Wrong!

The GST Council has decided to reduce the tax rate on electric vehicles (EVs) to 5 per cent from the existing 12 per cent, a move aimed at accelerating the adoption of eco-friendly mobility solutions.

8. Dinesh Nuwan Kulasekara has announced his retirement from international cricket. He is from which country?

Correct! Wrong!

Sri Lanka pacer, Dinesh Nuwan Kulasekara aged 37 announced retirement from international cricket.

9. Which Space Agency has said "Tiangong-2" spacecraft has destroyed?

Correct! Wrong!

According to the China Space Agency, China’s experimental space lab “Tiangong-2” was destroyed upon its controlled re-entry into Earth’s atmosphere over the Pacific Ocean.

10. What is ”IndSpaceEx”?

Correct! Wrong!

The three armed forces of India (Army, Navy, and Air Force) conducted 1st ever simulated space warfare exercise called “IndSpaceEx” on July 25, 26, 2019.

11. Beji Caid Essebsi has passed away. He was the President of which country?

Correct! Wrong!

The President of Tunisia and the North African country’s first democratically elected leader, Beji Caid Essebsi passed away at the age of 92 in Tunis, Tunisia after suffering from a severe health crisis.

12. Who is the new Chief Minister of Karnataka?

Correct! Wrong!

Karnataka’s Bharatiya Janata Party(BJP) state President Bookanakere Siddalingapp (BS) Yediyurappa was sworn in as the 19th Chief Minister of Karnataka.

13. Who is the Chairman of Airports Authority of India?

Correct! Wrong!

AAI signed up with Aireon for aircraft surveillance over the Indian ocean. The agreement was signed by Mansoor Ahmed, ED (CNS-P), Airports Authority of India and Don Thoma, President and CEO, Aireon in the presence of Chairman of Airports Authority of India, Guruprasad Mohapatra in New Delhi.

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