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Cabinet Approvals On 2nd January, 2019

  • “Cabinet approves Continuation of Umbrella scheme for “”Family Welfare and Other Health Interventions”” during 2017-18 to 2019-20″
  • Cabinet approves ‘The Constitution (Scheduled Tribes) Order (Amendment) Bill, 2018’ for revision in list of Scheduled Tribes of Arunachal Pradesh
  • Cabinet approves continuation of Rastriya Yuva Sashaktikaran Karyakram Scheme for the Period 2017-18 to 2019-2020
  • “Cabinet approves restructuring of National Health Agency as “”National Health Authority”” for better implementation of Pradhan Mantri – Jan Arogya Yojana”
  • Cabinet approves first-ever three way merger in Indian Banking with amalgamation of Vijaya, Dena and Bank of Baroda

Cabinet Approvals with Foreign Countries on 2nd January,2019

The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved Memorandum of Understanding (MoU) between India and Morrocco.

Cabinet apprised of MoU between India and Morocco on Cooperation in the area of Cyber Security
The Union Cabinet chaired by Prime Minister Shri Narendra Modi has been apprised of the Memorandum of Understanding (MoU) between India and Morocco on cooperation in the area of Cyber Security.
About Morocco
♦ Capital: Rabat
♦ Prime Minister: Saadeddine Othmani
♦ Currency: Moroccan dirham


Hundred percent household electrification achieved in 25 states under SAUBHAGYA scheme: Ministry of Power

The Minister of State (IC) for Power and New & Renewable Energy Shri RK Singh announced that 25 states have achieved100 percent household electrification under Centre’s ‘Pradhan Mantri Sahaj Bijli Har Ghar Yojana’ (Saubhagya).

The Government with the support of State Power Departments and DISCOMs have already connected about 2.39 Crore households since launch of scheme

Only about 10.48 Lakh households are left to be electrified in 4 States viz., Assam, Rajasthan, Meghalaya and Chhattisgarh.
About Saubhagya Scheme:
♦ Launched: September 25, 2017.
♦ Under Ministry of Power.
♦ Purpose: to achieve the goal of universal household electrification in the country by 31st March 2019.
♦ The total outlay of the project: Rs. 16, 320 crore.
♦ The Rural Electrification Corporation Limited (REC) was the nodal agency for the operationalisation of the scheme throughout the country.


5-day 106th the Indian Science Congress organized by Lovely Professional University inaugurated by Prime Minister, Shri Narendra Modi in Jalandhar, Punjab

Prime Minister Narendra Modi inaugurated the 5-day long ‘Indian Science Congress (ISC)-2019’ that will conclude on January 7, 2018, in Jalandhar, Punjab.

It will be organized by Lovely Professional University, Punjab.

The theme of 106th edition of ISC-2019, is: ‘Future India: Science and Technology’.

♦ Chief Minister: Amarinder Singh.
♦ Governor: V.P Singh Badnore.
♦ Wildlife Sanctuaries: Abohar WLS, Bir Aishvan WLS, Bir Bunerheri WLS, Bir Bhadson WLS, Bir Dosanjh WLS, Bir Gurdialpura WLS, Bir Mehaswala WLS, Bir Motibagh WLS, Harike Lake WLS, Jhajjar Bacholi WLS, Kathlaur Kushlian WLS, Takhni-Rehampur WLS, Nangal WLS.



President Trump signs ‘Asia Reassurance Initiative Act’ into law

President of United States of America (USA), Donald J. Trump signed the “Asia Reassurance Initiative Act (ARIA)” into law. The act establishes a multifaceted U.S. strategy to increase U.S. security, economic interests, and values in the Indo-Pacific region.

The ARIA will authorize $1.5 billion over a five year period to enhance economic, diplomatic and security cooperation with strategic regional allies.

The ARIA Act was introduced into the Senate in April by Senator Cory Gardner, and was co-sponsored by Senators Edward Markey, Marco Rubio, and Ben Cardin.
About the USA
♦ Capital: Washington D.C.
♦ Currency: United States dollar
♦ President: Donald Trump



Virat Kohli fastest to 19000 international runs, breaks Sachin’s record

Indian cricket team captain, Virat Kohli beats Cricketing legend Sachin Tendulkar’s to become the fastest batsman to score 19000 international runs on the 1st day of 4th Test Match in Sydney against Australia.

Virat Kohli crossed 19000 runs mark in 399 innings whereas Sachin Tendulkar took 432 innings to score 19000 runs.

West Indies’ Brain Lara and Australia’s Ricky Pointing took 433 and 444 innings respectively to score 19000 international runs.



Economy and Finance

RBI Forms Expert Panel On MSMEs under Ex-SEBI Chief UK Sinha

The Reserve Bank set up an expert committee under former SEBI chairman U K Sinha to suggest long-term solutions for the economic and financial sustainability of the MSME sector.

The eight-member committee will also examine the factors affecting the timely and adequate availability of finance to the sector.
About Reserve Bank of India (RBI)
♦ Headquarter: Mumbai
♦ Governor: Shaktikanta Das (25th RBI Governor)
About SEBI (The Securities and Exchange Board of India)
♦ Headquarter: Mumbai
♦ Chairman: Ajay Tyagi
♦ Formed: 12 April 1992


Bharti AXA Life uses WhatsApp to deliver policy, renewal premium

Private sector insurer Bharti AXA Life Insurance started delivering policies and renewal premium receipt to customers via instant messaging platform WhatsApp as a part of its alternative service option to the policy holders.

Bharti AXA Life Insurance, a joint venture between Bharti Enterprises and French Insurance major AXA is one of the first few insurers to provide the option of policy contract, renewal premium receipts and claim intimation through whatsapp.

Ishita Mukherjee is Chief Operating Officer (COO) and Vikas Seth is  Managing Director and Chief Executive Officer (CEO) of said.
About Bharti AXA Life Insurance
♦ Chief Operating Officer (COO): Ishita Mukherjee
♦ MD & CEO: Vikas Seth


Bancassurance pact was signed between Syndicate Bank and SBI Life Insurance

Syndicate Bank and SBI Life Insurance signed a bancassurance pact aiming to offer a comprehensive financial planning solution to its customers.

This was signed between:

  • Syndicate Bank MD & CEO, Mrutyunjay Mahapatra and MD & CEO of SBI Life, Sanjeev Nautiyal.

Through the pact, Syndicate Bank will provide penetration in the market with its 3,000 branches and SBI Life’s diverse range of protection, wealth creation and savings insurance products will be brought to the table to the customers.
Syndicate Bank:
♦ Headquarters: Manipal, Karnataka.
♦ Tagline: Faithful and Friendly.


HDFC MF surpassed ICICI Prudential MF to become largest AMC in India: AMFI

As per the latest data of Association of Mutual funds in India (AMFI), HDFC Mutual Fund has surpassed ICICI Prudential MF to become the country’s largest asset management company (AMC) after a gap of over two years.

As per the data, as of December 2018, HDFC MF managed assets worth Rs 3.35 lakh crore, while those of ICICI Prudential MF stood at Rs 3.08 lakh crore.

And consequently, the assets under management (AUM) of HDFC MF have grown over 9 per cent in October-December quarter from the last quarter.
Earlier in February 2016, ICICI Prudential MF had surpassed HDFC MF in terms of AUM and reached the top position.
What are Mutual Funds (MFs)?
MFs are investment vehicles made up of a pool of funds collected from a large number of investors and this pool of money is invested in stocks, bonds and money market instruments, among others.


7 Oil PSUs signed pact with IIT Bombay to set up centre of excellence

IIT Bombay and public sector oil companies inked a memorandum of understanding (MoU) for setting up Centre of Excellence in Oil, Gas and Energy.

The MoU was signed by heads of:

  • Indian Oil Corp (IOC),
  • Oil and Natural Gas Corp (ONGC),
  • GAIL India Ltd,
  • Bharat Petroleum Corp Ltd (BPCL),
  • Hindustan Petroleum Corp Ltd (HPCL),
  • Oil India Ltd and
  • Engineers India Ltd.



Pentagon comptroller David Norquist named acting deputy defence secretary

Pentagon comptroller David Norquist was named acting deputy defence secretary.

He has been the department’s chief financial officer and comptroller since May 2017.

In addition to that, Deputy Secretary of Defence Patrick Shanahan was appointed to serve as the acting secretary of defence.


Scientists develop ‘brain pacemaker’ to treat epilepsy Parkinson’s

Scientists have developed a device named WAND which stands for “Wireless artifact-free neuromodulation device” that works like a “Pacemaker for the brain” to monitor the brain’s electrical activity and potentially deliver fine-tuned treatments to patients suffering from diseases like epilepsy and Parkinson’s.

The most important feature of the device is that it is both wireless and autonomous, which means when it learns to recognize the signs of tremor or seizures then it can adjust the stimulation parameters on its own to prevent the unwanted movements.

The device has custom integrated circuits to record the full signal from both the subtle brain wave and the strong electrical pulses.


Paper Sensor to detect freshness of Milk developed by Indian Institute of Technology, Guwahati

Scientists at Indian Institute of Technology, Guwahati have developed a simple paper kit that can test freshness of milk and tell how well it has been pasteurized.

The kit is sided with smart phone app to ensure that milk is consumed before it turns too sour.

The team has prepared a kit by attaching probe discs onto a 2 cm square transparent cellulose acetate film. The probe is then covered with another cellulose acetate film

Colour reaction takes place when milk is injected through a tiny hole in the cover and a smart phone can be used to get the results. It takes just about 15 minutes to detect raw milk from pasteurized one.

Thought of the Day

“Courage: the most important of all virtues because without it, you cannot practice any other virtues.

Quiz based on Daily Current Affairs 3rd January 2019

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