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Central Statistics Office (CSO) released the First Advance Estimates of National Income at Constant (2011-12) and Current Prices, for the financial year 2018-19

The Central Statistics Office (CSO) under the Ministry of Statistics and Programme Implementation has released the first advance estimates of National Income at Constant (2011-12) and Current Prices,  for the financial year 2018-2019.

  • Compilation of the sector-wise Advance Estimates is based on the extrapolation of Benchmark-Indicator method
  • India’s GDP would grow at 7.2% in 2018-19, showing acceleration from 6.7% growth in 2017-18 because of push from agriculture and manufacturing sectors.

Central government approved formation of Centre for Classical Language in Tirur, Kerala

The Union Government issued its nod for setting up the Centre for Classical Language at the Thunchath Ezhuthachan Malayalam University in Tirur, Kerala.

As per the notification, the state government will enter into an MOU with the Union Ministry of Human Resources Development.

Furthermore, in this regard, the HRD ministry had issued a communication in this regard to the Central Institute of Indian Languages, Mysuru.

The centre is aimed at study and research and other aspects of Malayalam language and its development.
♦ Capital: Thiruvananthapuram.
♦ Chief Minister: Pinarayi Vijayan.
♦ Governor: Palanisamy Sathasivam.
♦ National Parks: Periyar National Park, Silent Valley National Park, Pampadum Shola National Park, Mathikettan National Park, Eravikulam National Park, Anamudi Shola National Park.


Kallakurichi announced as 33rd district, after bifurcating Villupuram: Tamil Nadu govt

Tamil Nadu chief minister Edappadi K Palaniswam announced the formation of a new district Kallakurichi by bifurcating Villupuram district which is one of the large districts in the State.

With this, the state will now have 33 districts.

The decision was taken because the previous coverage of the district Villupuram was huge and and it was becoming difficult for the administrators to govern the district.

The newly formed region is renowned for its rice production.
Tamil Nadu:
♦ Chief Minister: Edappadi K Palaniswam.
♦ Governor: Shri. Banwari Lal Purohit.


Economy and Finance

RBI set up 5-member panel under Nandan Nilekani to boost digital payments

The Reserve Bank of India constituted a 5-member high-level committee under Aadhaar architect Nandan Nilekani to suggest measures to strengthen the safety and security of digital payments in the country.

The panel members include:

  • Infosys co-founder Nilekani,
  • former RBI deputy governor H R Khan,
  • former MD and CEO of Vijaya Bank Kishore Sansi and
  • former secretary in ministries of IT and steel Aruna Sharma and
  • chief innovation officer, Centre for Innovation, Incubation & Entrepreneurship (CIIE), IIM Ahmedabad, Sanjay Jain.

♦ Founded: 1st April 1935.
♦ Headquarters: Mumbai.
♦ Governor: Mr. Shaktikanta Das.

IndiaMoneyMart Receives NBFC -P2P Certification from RBI

Reserve Bank of India (RBI) has granted NBFC – P2P (Non-Banking Financial Company – Peer to Peer) Certificate to IndiaMoneyMart and this certification will enable IndiaMoneyMart to expand operations and target loan disbursals worth INR 100 Crore by the end of financial year 2018-19.

The step will validates IndiaMoneyMart’s strong framework to make lending and borrowing transparent, digital and convenient in confrontation to the regulatory requirement.

The Milestone will enable IndiaMoneyMart to gain traction among investors seeking for alternative asset class and boost their sentiments.

The Recognition of Peer to Peer or P2P lending sector by RBI has revolutionized the way borrowers seek loans and lenders invest idle cash.
About Reserve Bank of India
♦ Governor: Shaktikanta Das
♦ Headquarters: Mumbai, Maharashtra
♦ Foundation Year: 1935


Jana Small Finance Bank Launches Current Account with Unique Auto-Sweep Facility

The private sector Jana Small Finance Bank has launched a new Current Account with Auto-Sweep facility that will enable bank’s existing and potential new customers to auto sweep-in and sweep-out the idle funds in the current account to Sweep Fixed Deposit and earn high interest.

In the said facility the customers will be able to earn interest of 8.5 percent for a tenor of 365 days on sweep deposit.

The new facility will enable current account holders to earn higher interest on the idle funds while providing the flexibility of using the funds when the need in business arises.
About Jana Small Finance Bank:
♦ MD & CEO: Ajay Kanwal
♦ Headquarters: Bengaluru
♦ Tagline of the Bank: Likho Apni Kahaani


NHAI collaborate with Oil Marketing Companies for issuance of FASTags through petroleum retail outlets 

Indian Highways Management Company Ltd. (IHMCL), a company promoted by NHAI, has signed MOUs with state-run Oil Marketing Companies (IOCL, BPC, and HPC). It will ensure availability of FASTags at petroleum outlets across India.

Indian highways management company ltd. (IHMCL) had launched the national electronic toll collection program (NETC) under the brand name “FASTag” in April 2016. This program has gain success and running at 450 toll plaza along with national highway and selected state toll plazas.

The enhanced adoption of FASTag program will increase user convenience by offering seamless toll-fee payments at Plazas and thus help save time, money and fuel.

IHMCL is also planning to launch two mobile applications named MYFASTag and IHMCLPOS , will enable customers to link the FASTags with their preferred bank account.



Maharashtra to host Khelo India Youth Games 2019

Maharashtra is going to host the second edition of the Khelo India Youth Games which includes completions in 18 different disciplines at Balewadi Sports Complex in Pune. The event will conclude on 20th January 2019.

Khelo India Youth Games (KIYG) is a part Khelo India which is the revamped national programme for development of sports in India.

Students from colleges and universities are participating in the event for the first time.
About Maharashtra
♦ Governor: C. Vidyasagar Rao
♦ Chief Minister: Devendra Fadnavis
♦ Capital: Mumbai
Ministry of Youth Affairs and Sports
♦ Minister of State (I\C): Col Rajyavardhan Singh Rathore
♦ Headquarters: Shastri Bhawan, New Delhi


Sydney and Brisbane chosen to host $15 million 24 team ATP Cup in 2020

Australian cities Sydney and Brisbane have been announced as the first two host locations for the newest team event in men’s tennis for the multi-million dollar ATP Cup from 2020.

The two cities have beaten competition from other parts of Australia to host the re-launched team event, the ATP Cup, slated to start from 3-12 January next year with a 24-team competition. The third Australian city for the tournament is yet to be determined.

The tournament will comprise more than 100 players from 24 nations with $15 million in prize money and 750 ATP Ranking points.
About Association of Tennis Professionals (ATP):
♦ Chairman‎: ‎Chris Kermode
♦ Headquarters: London, United Kingdom
About Australia:
♦ Capital: Canberra
♦ Currency: Australian Dollar
♦ Prime Minister: Scott Morrison




Former Indian envoy to Myanmar, Vikram Misri, took charge as India’s new envoy to China

India’s new ambassador to ChinaVikram Misri, took charge of the post.

He is a 1989-batch India Foreign Service (IFS) officer, and replaced Gautam Bambawalewho retired in November 2018.

Prior to this appointment, Misri served as Indian envoy in Myanmar.
♦ Capital: Beijing.
♦ Currency: Renminbi.

Solar Man of India, Pranav R Mehta, became the first Indian to Head Global Solar Council, USA

The chairman of National Solar Energy Federation of India (NSEFI), Shri Pranav R Mehta, has taken over as the president of Global Solar Council (GSC) from January 1, 2019.

He is dubbed as the Solar Man of India.

He has been conferred with the ‘Visionary Disruptor Award’ by Solar Future Today, which he will be receiving on 15th January, 2019 at the sidelines of World Future Energy Summit in Abu Dhabi.
♦ India is placed amongst the Top 5 solar players in the world and is third largest solar market.
About Global Solar Council (GSC):
♦ Headquarters: Washington D.C., USA.
♦ The Global Solar Council (GSC) was launched on December 6, 2015, following the historic United Nations Climate Change Conference (UN COP 21).
National Solar Energy Federation of India (NSEFI):
♦ Headquarters: New Delhi.


India-born Gita Gopinath joined IMF as 1st woman and it’s 11th Chief Economist

Mysore-born Gita Gopinath joined International Monetary Fund (IMF) as its 11th chief economist, thus becoming the first woman to occupy the top IMF post.

She succeeded Maurice (Maury) Obstfeldwho retired on December 31, 2018.

She is the John Zwaanstra professor of International Studies and Economics at Harvard University.
International Monetary Fund:
♦ Managing Director: Christine Lagarde.
♦ Headquarters: Washington D.C., USA.


SC reinstated Alok Verma as CBI Chief; to look in to corruption charges by High-Committee panel and CVC

The Supreme Court, as per orders penned by Chief Justice of India Ranjan Gogoi, reinstated CBI Director Alok Kumar Vermawithout giving him any major policy decision making powers.

This was done against the October 23 2018 decision which had earlier divested him of his powers completely as per the corruption charges brought against him.

After the successful conduct of the Central Vigilance Commission inquiry against those charges will further steps be taken against him by the high-powered committee which selects and appoints the CBI Director.
♦ Headquarters: New Delhi
♦ Full form: Central Bureau of Investigation.


HD 21749b: NASA probe discovers new planet

NASA’s transiting exoplanet survey satellite (TESS) has discovered a planet named HD21749b orbiting around the star HD 21749, which lies about 53 light years from earth in the faint constellation reticulum. TESS does this work by carving the sky up into overlapping sectors, studying each one for 27 days at a time.

Discovery team leader Diana Drogomir, institute of astrophysics and space research said that the planet has a density of water, a thick atmosphere and has an average surface temperature around 300 degrees Fahrenheit.

HD 21749b completes one orbit of its host star, which is nearly as bright as our sun , every 36 earth days.

It is a “sub Neptune”, around three times bigger than earth and 23 times more massive then earth, which means it’s likely gaseous rather than rocky.


Reliance Jio introduces ‘Kumbh JioPhone’ app for pilgrims

Reliance Jio Infocomm launched the Kumbh JioPhone application, especially designed for millions of pilgrims who will congregate during this year’s Ardh Kumbh Mela at Prayagraj.

The new app which will be available to both existing and new JioPhone users will contain information on Kumbh, real-time travel information (special trains, buses etc.), booking tickets and receiving updates, ‘Yatri Ashray’ at stations, emergency helpline numbers, area routes and maps, pre-published bath and religious day schedules and railway camp mela.

The new app has a feature called ‘Khoya Paya’ that will help users stay close to near and dear ones by finding their exact location.

Thought of the Day

“Act with kindness but do not expect gratitude.”

Quiz based on Daily Current Affairs 8th January 2019

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