Attachment RBI-SEBI NABARD 2019 CA Monthly Magazine May 1st To 31st Lyst5691

Comprehensive CURRENT AFFAIRS for
May 2019
For RBI Gr B , SEBI Gr A
NABARD Gr A & B 2019
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Let us try to understand the relevance of current affairs in RBI Gr B , NABARD Gr A and NABARD Gr
B and also understand how to read this magazine.
What are the areas where current affairs-based questions are asked in RBI Gr B and NABARD Gr A
and B examinations?
• After thorough analysis of previous year papers of RBI Grade B and NABARD Gr A and B
examinations, we understand that current affairs form an important part of these examinations-
both phase 1 as well as phase 2
• For RBI Gr B examination, current affairs-based questions are asked in Phase 1 (General
Awareness – GA Section) and ESI and Finance paper of Phase 2
• For NABARD Gr A and B examinations, current affairs based questions are asked in Phase 1
(General Awareness – GA Section , Economics and Social Issues – ESI Section as well as Agriculture
and Rural Development – ARD Section) as well as Phase 2 (Economics and Social Issues – ESI
Section as well as Agriculture and Rural Development – ARD Section which is a combined paper of
100 marks)
What is the weightage of current affairs-based questions in Phase 1 and 2 of RBI Gr B and NABARD
Gr A and B examinations?
Let us look at RBI Gr B first:
Phase 1 – GA Phase 2 – ESI Phase 2 – FM

Total Marks = 80 Total Marks = 100 Total Marks = 100
Current Affairs weightage = 60- Current Affairs weightage = 80-85 Current Affairs weightage = 20-
65 Marks Marks 25 Marks
Now let us take a look at NABARD Gr A and B examination:
Phase 1 – GA Phase 1 - ESI Phase 1- ARD Phase 2 – ESI

Phase 2 – ARD Phase 2 – Paper
III (for Gr B)
Total Marks = Total Marks = Total Marks = Total Marks = Total Marks = Total Marks =
20 40 40 50 50 100
Current Current Affairs Current Current Affairs Current Current Affairs
Affairs weightage = 25- Affairs weightage = 35- Affairs weightage = 5-
weightage = 30 Marks weightage = 40 Marks weightage = 10 Marks
15-20 Marks 10-15 Marks 15-20 Marks
What is the nature of questions asked based on current affairs in these examinations?
To understand and better appreciate the nature of questions asked, this current affairs document
provided by EduTap has been divided into 4 sections namely:
1. GA in news
2. GA + ESI (Economics and Social Issues) in news
3. GA + Finance in news
4. GA + ARD (Agriculture and Rural Development) in news
Why this division?

• For the simple reason that current affairs need to be prepared in a combined manner for Phase 1
as well as Phase 2 of these examinations.
• General Awareness has been taken as the super set and all other sections – ESI, Finance and ARD
are nothing but subsets of the super set of GA when we talk about current affairs.
• Simply put, this means that all the current affairs which are important for ESI, ARD and Finance
can also be asked in GA.
Example:
Which of the following organizations has released State of Global Climate Report 2018 recently (April
2019)?
A) UNFCCC
B) BRICS
C) WMO
D) IPCC
E) None of the above
First look at this question suggests that this can be asked in the ESI section of the examinations as the
topic “Environmental issues and Sustainable Development” has been mentioned in the official
syllabus of ESI for both RBI Gr B and NABARD Gr A examinations.
But, can this question also be asked under General Awareness Section of Phase 1 of RBI Gr B and
NABARD Gr A/B? Yes!
Let us take another example.
Who among the following was the chairperson of the Committee on Currency Management
constituted by RBI in the year 2016?
A) Viral Acharya
B) Duvvuri Subbarao
C) Bimal Jalan
D) D.K. Mohanty
First look at this question suggests that this can be asked in the Finance section of the examination as
the topic “Recent Developments in the Financial Sector” has been mentioned in the official syllabus
of Finance for RBI Gr B examination.
NABARD Gr A/B? Again, Yes!
Let us take one last example:
In which of the following years was e-NAM launched?

A) 2012
B) 2013
C) 2015
D) 2016
What about this question?
First look at this question suggests that this can be asked in the Agriculture and Rural Development
(ARD) section of the examination as the topic “Agricultural Finance and Marketing” has been
mentioned in the official syllabus of ARD for NABARD Gr A/B examination.
NABARD Gr A/B? Again, Yes!
So, we have firmly established that the questions asked based on current affairs in ESI, ARD as well as
Finance can be asked in the GA section as well, didn’t we say that GA is the super set?
This also implies that there are certain areas in GA which cannot be asked in ESI, ARD or Finance.
What are those areas? Let us consider some examples:
Who among the following personalities has recently (April 2019) become the first Indian to join the
FIFA council?
A) Praful Patel
B) Sharad Pawar
C) Utpal Kumar Ganguly
D) Krishnendu Banerjee
Who has been elected as the first woman President of Slovakia recently (April 2019)?
A) Viorica Dancila
B) Zuzana Caputova
C) Kersti Kaljulaid
D) Ana Brnabic
Both these questions are such that can be asked in GA section but not in ESI, Finance or ARD. Why?
For the simple reason that these questions cannot be linked to any of the topics of ESI, ARD or
Finance as given in the official syllabus for RBI Gr B and NABARD Gr A/B examinations.
Based on this analysis, we have divided our current affairs magazine into 4 sections:
1. GA in news
2. GA + ESI (Economics and Social Issues) in news

3. GA + Finance in news
4. GA + ARD (Agriculture and Rural Development) in news
5.
The first section – GA in news covers those news which can be asked in GA only and not in ESI, ARD
or Finance.
The second section – GA + ESI in news covers those news which can be asked in GA as well as ESI.
The third section – GA + Finance in news covers those news which can be asked in GA as well as
Finance.
The fourth section – GA + ARD in news covers those news which can be asked in GA as well as ARD.
How to read this document for Phase 1?
For RBI Grade B - you need to refer to first three sections of the magazine because the syllabus of
Phase 1 includes General Awareness (GA). This GA includes GA in news, GA + ESI in news and GA +
Finance in news.
For NABARD Grade A - you need to refer to first, second and fourth section of the magazine. The
syllabus of the exam includes current affairs from GA, ESI & ARD.
How to read this document for Phase 2?

For RBI Grade B - you need to refer to the second and third sections of this magazine. Section first i.e
GA in news is not important for Phase 2 as in this phase such type of questions are not asked. The
section of GA + ESI in news and GA + Finance in news are important for Phase 2 with two separate
exams of ESI and FM, 100 marks each.
For NABARD Grade A – you need to refer to section second and forth for Phase 2 of this paper. A
combined paper of ESI + ARD with 100 marks is conducted in this phase. Section first i.e GA in news
is not important here.
Now that we have understood how to read this magazine, let’s dive in!
Happy learning!

Contents
1 GA in News: ................................................................................................................................................. 15
1.1 Indian and French Navies conduct Varuna 19.1 Bilateral Exercise Off Goa coast 1st – 10th May 19....... 15
1.2 ICAT to host Nugen Mobility Summit in November 2019 ...................................................................... 15
1.3 Israel honours 1971 war hero Lt Gen JFR Jacob with a plaque on Ammunition Hill Wall of Honour ....... 15
1.4 India to mark its presence at Venice Biennale ....................................................................................... 16
1.5 BHEL signs MoU with ARAI for e-mobility projects ................................................................................ 16
1.6 First Indian Army Mountaineering Expedition to Mt Makalu led to discovery of 'Yeti' footprints........... 16
1.7 Emperor Akihito leaves the Japanese throne ........................................................................................ 17
1.8 Life-Sized Stucco Sculpture Unearthed in Telangana ............................................................................. 17
1.9 UN designates JeM chief Masood Azhar as global terrorist ................................................................... 17
1.10 Fani to make a landfall on Odisha and Andhra Pradesh ......................................................................... 17
1.11 Himachal Pradesh clinches junior girls’ title .......................................................................................... 17
1.12 ISRO set to launch second mission to the moon Chandrayan-2 in July................................................... 18
1.13 Vice President releases a postage stamp to commemorate the 750th birth anniversary of Sri Vedanta
Desikan ............................................................................................................................................................ 18
1.14 14th edition of Sino-Indian border trade opens at Nathu La , Sikkim ..................................................... 18
1.15 Pak to observe its retaliatory action against India on Feb 27 as 'Operation Swift Retort' ....................... 18
1.16 Environmental Defense Fund plans to launch its Methane SAT in 2021................................................. 18
1.17 Apurvi Chandela is world number one in 10m air rifle........................................................................... 19
1.18 Massive Afghanistan peace summit ends in Kabul ................................................................................ 19
1.19 Kumar Sangakkara to become first non-British president of MCC ......................................................... 19
1.20 World Tuna Day : May 2 ....................................................................................................................... 20
1.21 World Press Freedom Day : May 3 ........................................................................................................ 20
1.22 Dilip Kumar appointed as Officer on Special Duty in office of Lokpal ..................................................... 20
1.23 Sanjay Gandhi National Park (SGNP) lost its last surviving white tiger ................................................... 20
1.24 ISRO plans to launch radar imaging satellite in May 2019 ..................................................................... 21
1.25 Rs 3,600 crore proposal to buy Russia’s Kamov-31 AEW helicopters cleared ......................................... 21
1.26 Article on Coalgate wins ACJ Award for Investigative Journalism .......................................................... 21
1.27 Barcelona legend Xavi Hernandez announces retirement ..................................................................... 21
1.28 Karnataka limits weight of schoolbags .................................................................................................. 21
1.29 ISRO launches its second commercial company NewSpace ................................................................... 22
1.30 North Korea fires short-range projectiles, raising tensions amid stalled US talks ................................... 22
1.31 Coronation begins for King Maha Vajiralongkorn of Thailand ................................................................ 22
1.32 IIT Kanpur identifies novel molecule to control hyper inflammation ..................................................... 22
1.33 Nepali girl dances for 126 hours, sets new world record ....................................................................... 22
1.34 ‘Chandanotsavam’ at Simhachalam temple in A.P................................................................................. 23

1.35 Asian Squash championship: Ghosal and Joshna script history .............................................................. 23
1.36 Launch of Fourth Scorpene Class Submarine – VELA ............................................................................. 23
1.37 ‘Zero Pendency Courts Project’ launched by Delhi High Court ............................................................... 23
1.38 Microsoft unveils its own Blockchain-based service .............................................................................. 23
1.39 For the first time ,nests of grizzled giant squirrel spotted in Tamil Nadu ............................................... 24
1.40 May 7 :BRO celebrates 59th Raising Day ............................................................................................... 24
1.41 Purple frog set to be crowned Kerala’s state amphibian ....................................................................... 24
1.42 May 7 : Basava Jayanti 2019 ................................................................................................................. 24
1.43 TCS set to become world’s third-largest IT services company................................................................ 24
1.44 India, UK in talks to build Naval supercarrier under “Make in India” ..................................................... 25
1.45 G D 'Robert' Govender conferred with V K Krishna Menon award ......................................................... 25
1.46 2 Indians Among 115 UN Personnel Honoured For Sacrifice In Line Of Duty .......................................... 25
1.47 May 8 : World Thalassemia Day 2019 ................................................................................................... 25
1.48 Donald Trump awards Presidential Medal of Freedom to Tiger Woods ................................................. 25
1.49 Scientists carry out genetic study on people of Lakshadweep Islands.................................................... 25
1.50 WHO for eliminating industrially produced trans fats by 2023 .............................................................. 26
1.51 India’s newest pit viper found in Arunachal Pradesh ............................................................................. 26
1.52 Iceland is Cleaning Air by Turning CO2 into Rock ................................................................................... 26
1.53 Iran says it will not honour nuclear curbs .............................................................................................. 26
1.54 Char Dham Yatra begins in Uttarakhand ............................................................................................... 27
1.55 Indian student trio emerges first runner-up in Microsoft's Imagine Cup World Championship .............. 27
1.56 Shyam Benegal to direct Indo-Bangla film on Sheikh Mujibur Rahman .................................................. 27
1.57 5th United Nations Global Road Safety Week ....................................................................................... 27
1.58 World Red Cross Day: May 8................................................................................................................. 28
1.59 India's Jagjit Pavadia re-elected to International Narcotics Control Board ............................................. 28
1.60 Father of modern legal education NR Madhava Menon passes away .................................................... 28
1.61 India could be the first country to test Facebook's digital currency: Report .......................................... 28
1.62 Lakshadweep recruits barn owls to fight rodent menace ...................................................................... 29
1.63 First Apache Helicopter formally handed over to The IAF...................................................................... 29
1.64 India joins US, Japan, and Philippines for naval drills in South China Sea ............................................... 29
1.65 Singapore reports first case of rare monkeypox virus............................................................................ 29
1.66 World's fastest bullet train starts test run ............................................................................................. 30
1.67 Tamil novelist and Sahitya Akademi awardee Thoppil Mohamed Meeran dies aged 74 ........................ 30
1.68 Igor Stimac appointed new India men's football team coach ................................................................ 30
1.69 Amul to sponsor Afghanistan in 2019 World Cup .................................................................................. 30
1.70 IAF jets intercept Georgian aircraft coming from Pakistan .................................................................... 30
1.71 CCI probes Google over unfair business activities ................................................................................. 31

1.72 Amazon unveils its moon lander : Blue Moon ....................................................................................... 31
1.73 ITC's longest-serving chairman Y C Deveshwar passes away.................................................................. 31
1.74 Hinduja brothers named UK's wealthiest people for the third time ....................................................... 32
1.75 Inaugural edition of world's first women's cricket magazine 'CRICZONE' ............................................... 32
1.76 World Migratory Bird Day 2019 ............................................................................................................ 32
1.77 Actress Dia Mirza, Alibaba chief among 17 new 'SDG Advocates' of UN ................................................ 32
1.78 Konkan Railways signs agreement with Nepal....................................................................................... 32
1.79 11 May : National Technology Day ........................................................................................................ 32
1.80 12 May : International Nurses Day ........................................................................................................ 33
1.81 Justice Abhay Shreeniwas Oka takes oath as Chief Justice of Karnataka High Court .............................. 33
1.82 Padma Shri awardee Bhojpuri singer Hiralal Yadav passes away ........................................................... 33
1.83 DRDO Successfully Conducts Flight Test of ABHYAS .............................................................................. 33
1.84 India Pavilion to be inaugurated at Cannes ........................................................................................... 33
1.85 300 Himalayan yaks starve to death in Sikkim ....................................................................................... 34
1.86 IAAF World Relays Yokohama 2019 conclude ....................................................................................... 34
1.87 Ireland declares climate emergency ..................................................................................................... 34
1.88 Manchester City retains Premier League title on final day of season ..................................................... 34
1.89 Lewis Hamilton wins Spanish GP ........................................................................................................... 34
1.90 CCMB scientists’ sequence Asiatic lion genome .................................................................................... 34
1.91 Jaisalmer to host International Army Scout Masters Competition 2019 ................................................ 35
1.92 Indian rhinos will have DNA database soon .......................................................................................... 35
1.93 ADMM-PLUS exercise concluded in Singapore ...................................................................................... 35
1.94 Madrid Open Tennis 2019 .................................................................................................................... 35
1.95 Indian Premier League 2019: Mumbai Indian wins the title................................................................... 36
1.96 China to host Conference on Dialogue of Asian Civilizations ................................................................. 36
1.97 India’s GS Lakshmi becomes first female to be appointed ICC Match Referee ....................................... 36
1.98 Aarohi Pandit becomes world's first woman to fly solo across Atlantic Ocean ....................................... 36
1.99 15th May : International Day of Families................................................................................................ 36
1.100 One of India’s Smallest Orchids discovered in Assam ........................................................................ 36
1.101 Women to referee men’s AFC Cup clash ........................................................................................... 36
1.102 ICC Cricket World Cup 2019 - Every team to have dedicated anti-corruption officer during World Cup
37
1.103 Indian Coast Guard Ship (ICGS) Vigraha decommissioned ................................................................. 37
1.104 Ex-Supreme Court judge Madan Lokur appointed to Fiji SC ............................................................... 37
1.105 Vande Bharat Express crosses another milestone ............................................................................. 37
1.106 Indian Navy successfully test-fires MRSAM missile............................................................................ 38
1.107 U.S., U.K. teams share $10mn XPRIZE award for child literacy ........................................................... 38

1.108 World Telecom Day: May 17th ........................................................................................................... 38
1.109 BSNL partners with Google to expand WiFi footprint ........................................................................ 38
1.110 Israel proposes India to be the focus country in Jerusalem Film Festival, 2020 .................................. 38
1.111 Kerala Assembly to digitise all records .............................................................................................. 39
1.112 WhatsApp confirms spyware attack .................................................................................................. 39
1.113 Claude Monet's 'Mueles' sells for record breaking $110.7 mn ........................................................... 39
1.114 Project ‘SPARROW-CBIC’ for online writing of Annual Performance Appraisal Report (APAR) ............ 39
1.115 China to host 2023 Asian Cup ........................................................................................................... 39
1.116 New plastic that could be fully recycled created by Berkeley Lab ...................................................... 40
1.117 Taiwan becomes first in Asia to legalize same-sex marriage .............................................................. 40
1.118 16th May : The world celebrates the Second International Day of Light ............................................ 40
1.119 Trump unveils merit-based immigration system ............................................................................... 40
1.120 The architect of Louvre Pyramid , I.M. Pei dies at 102 ....................................................................... 40
1.121 SIMBEX-2019 scheduled from 16 May to 22 May 2019 ..................................................................... 40
1.122 World gets the redefined units of measurement of Kilogram, Kelvin, Mole and Ampere ................... 41
1.123 18 May: celebration of ‘Buddha Purnima’ ......................................................................................... 41
1.124 Celebrated author Herman Wouk dies at the age of 103 ................................................................... 41
1.125 India hands over two Mi-24 helicopters to Afghanistan .................................................................... 41
1.126 John F Kennedy Profile in Courage Award 2019 goes to Nancy Pelosi ................................................ 41
1.127 20 May: World Bee Day .................................................................................................................... 42
1.128 BWF launched 2 New Formats of Badminton Game .......................................................................... 42
1.129 Evidence of water found on Ultima Thule: NASA............................................................................... 42
1.130 ISRO puts imaging satellite RISAT 2B into orbit ................................................................................. 42
1.131 ISRO plans to conduct seven mega missions over next 10 years ........................................................ 43
1.132 US approves missile sales to South Korea, Japan ............................................................................... 43
1.133 8th Indo – Myanmar Coordinated Patrol ........................................................................................... 43
1.134 BrahMos Air Launched Missile tested from Su-30 MKI Aircraft.......................................................... 43
1.135 NITI Aayog proposes Rs 7,500-crore plan for Artificial Intelligence push............................................ 44
1.136 SBI ties up with FMCG arm of The Art of Living ................................................................................. 44
1.137 After US ban, Google restricts Huawei from using Android apps and updates ................................... 44
1.138 Reliance beats Indian Oil Corp to become biggest Indian company by revenue ................................. 44
1.139 Tennis Italian Open 2019 concludes in Italy ...................................................................................... 45
1.140 UGC asks universities to observe May 21 as Anti-Terrorism Day ....................................................... 45
1.141 Shyam Saran to be conferred with Japan's 'Order of the Rising Sun' award ....................................... 45
1.142 May 21st : World Day for Cultural Diversity for Dialogue and Development ...................................... 45
1.143 Formula One legend Niki Lauda dies aged 70 .................................................................................... 45
1.144 UAE launches 'Golden Card' scheme to woo wealthy investors, exceptional talents .......................... 45

1.145 Indian peacekeeper Jitendra Kumar to be honoured posthumously with UN medal ......................... 46
1.146 36th Youth National Basketball Championship 2019 .......................................................................... 46
1.147 IAF successfully test fires aerial version of BrahMos missile .............................................................. 46
1.148 SpaceX launches first 60 satellites of its internet network ................................................................. 47
1.149 Four new SC judges have taken oath................................................................................................. 47
1.150 CSO, MOSPI to be merged into National Statistical Office ................................................................. 47
1.151 Tata Consultancy Services listed among top 50 US companies for diversity ....................................... 47
1.152 Man Booker International Prize 2019 winner : Jokha Alharthi ........................................................... 48
1.153 Bhawana Kanth: First woman fighter pilot of Indian Air Force ........................................................... 48
1.154 Assam Rifles battalion and Indian Coast Guard ship sign affiliation charter ....................................... 48
1.155 China delivers first overhauled JF-17 fighter jet to Pakistan .............................................................. 48
1.156 Pakistan successfully test-fires ballistic missile Shaheen-II ................................................................ 49
1.157 UNGA resolution demanding UK withdraw from Chagos Archipelago ............................................... 49
1.158 WHO Unveils Plan To Tackle Global Snakebite "Emergency" ............................................................. 49
1.159 DRDO Successfully Flight-Tested Guided Bomb ................................................................................. 49
1.160 IAF’s AN-32 Aircraft formally Certified to Operate on Indigenous Bio-Jet Fuel ................................... 49
1.161 ICAT Organized International Seminar on Noise, Vibration and Harshness ........................................ 50
1.162 DRDO successfully test fires AKASH – MK -1S .................................................................................... 50
1.163 Fastags can Now be Purchased Online through Amazon ................................................................... 50
1.164 Admiral Sunil Lanba the Chief of The Naval Staff retires tomorrow 31 May 2019 .............................. 50
1.165 NASA unveils schedule for ‘Artemis’ 2024 Mission ............................................................................ 50
1.166 25th May : World Thyroid Day ........................................................................................................... 51
1.167 Sahara – A Hostel for the Veer Naris ................................................................................................. 51
1.168 SpiceJet becomes fourth domestic airline to add 100th plane ........................................................... 51
1.169 Guy Gunaratne wins Dylan Thomas prize for 'urgent' London novel .................................................. 52
1.170 ISSF World Cup Rifle : Apurvi Chandela wins her second World Cup Gold medal ............................... 52
1.171 Sudirman Cup 2019 Badminton Title : China beats Japan .................................................................. 52
1.172 Indian Army officer appointed the commander of UN Mission in South Sudan.................................. 52
1.173 ICMR head Balram Bhargava wins Dr. Lee Jo ng-wook Prize for Public Health ................................... 52
1.174 Russia launches its nuclear powered icebreaker Ural ........................................................................ 53
1.175 The IAF's tribute to Kargil war martyrs .............................................................................................. 53
1.176 MP's Orchha makes it to tentative list of UNESCO World Heritage Sites ............................................ 53
1.177 May 28th : Veer Savarkar's birth anniversary .................................................................................... 53
1.178 P.S. Golay sworn in as Sikkim Chief Minister ..................................................................................... 53
1.179 BIMSTEC leaders invited to PM Modi’s oath-taking ceremony on May 30th, 2019 ............................. 54
1.180 Nobel-winning physicist Murray Gell-Mann passed away.................................................................. 54
1.181 Sudirman Cup 2019 Badminton Title : China beats Japan .................................................................. 54
10 | P a g e W W W . E D U T A P . C O . I N QUERY? HELLO@EDUTAP.CO.IN /8146207241

1.182 WHO recognises ‘burn-out’ as medical condition .............................................................................. 54
1.183 Hindi version of Oscar Academy's publication 'Digital Dilemma' launched......................................... 54
1.184 Air Chief Marshal BS Dhanoa receives Baton of Chairman COSC........................................................ 55
1.185 Annie Zaidi announced as Nine Dots Prize 2019 winner .................................................................... 55
1.186 IIT Guwahati signs MoU with ISRO to set up space technology .......................................................... 55
1.187 'Hawa Aane De' song featuring Akshay Kumar released for Environment Day ................................... 55
1.188 29th May :International Day of UN Peacekeepers ............................................................................. 55
1.189 29 May: International Everest Day observed ..................................................................................... 56
1.190 ISRO, IAF ink pact for astronaut selection, training ............................................................................ 56
1.191 India’s only orangutan Binny dies in Odisha zoo ................................................................................ 56
1.192 New species of wasp identified in Goa .............................................................................................. 56
1.193 Rajasthan govt bans ads, sale of e-cigarettes .................................................................................... 56
1.194 Food delivery apps to have hygiene rating in Punjab......................................................................... 56
1.195 Lewis Hamilton wins Monaco Grand Prix .......................................................................................... 57
1.196 Indian Overseas Bank launches ‘Bank on Wheels’ facility .................................................................. 57
1.197 Akshay Kumar named TAFE’s brand ambassador .............................................................................. 57
1.198 Puerto Williams, Chile is now world's southernmost city .................................................................. 57
1.199 Tribal Odisha woman becomes country's youngest MP ..................................................................... 57
1.200 Cyril Ramaphosa takes oath as South Africa’s President .................................................................... 57
1.201 New vine snake discovered in Odisha biosphere reserve .................................................................. 57
2 GA + ESI in news........................................................................................................................................... 58
2.1 Iraq remains top oil supplier to India .................................................................................................... 58
2.2 Government and IIT-Delhi to set up a Centre of Excellence for Waste to Wealth Technologies ............. 58
2.3 SC likely to post EPS 95 plea for final disposal in July............................................................................. 59
2.4 Manufacturing sector growth slows to eight-month low in April amid election uncertainty: PMI .......... 59
2.5 Times Higher Education Asia University Rankings 2019 ......................................................................... 60
2.6 Netherlands got $12.8-b Indian FDI in 2017, 2nd biggest after Singapore ............................................. 61
2.7 GRIHA Council launches rating system to evaluate environmental performance of schools .................. 62
2.8 NGT seeks report on road construction for commercial vehicles in Rajaji Tiger Reserve ........................ 63
2.9 1 Million Animal And Plant Species Are At Risk Of Extinction : U.N. Report ........................................... 63
2.10 Exports of certain commodities to Maldives exempted from restrictions in 2019-20 ............................ 64
2.11 India gets re-elected as observer to Arctic Council ................................................................................ 65
2.12 World Bank forecasts India’s GDP growth at 7.5% ................................................................................ 66
2.13 Forex reserves up by $171.9 million to $418.7 billion ........................................................................... 67
2.14 India signs protocol for export of chilli meal to Chinese markets ........................................................... 67
2.15 IIP at a 21-month low as manufacturing slows down ............................................................................ 68
2.16 US unveils The Global Health Security Strategy ..................................................................................... 68

2.17 180 nations agree on a new UN accord to curb export of plastic waste ................................................. 69
2.18 WTO Ministerial Meeting of Developing Countries in New Delhi ........................................................... 70
2.19 Asian economies set to dominate 7% growth club during 2020s ........................................................... 70
2.20 India to co-chair Consultative Group (CG) of Global Facility for Disaster Reduction and Recovery (GFDRR)
71
2.21 CPI inflation quickens to six-month high of 2.92% on food, fuel prices .................................................. 72
2.22 7th Economic Census to begin next month ........................................................................................... 73
2.23 ISRO Director K Sivan inaugurates Young Scientist Programme ............................................................. 73
2.24 India finds OECD index for services trade faulty .................................................................................... 74
2.25 UNDRR confers Additional Principal Secretary to Prime Minister with the prestigious Sasakawa Award
2019 75
2.26 Global Drug Survey: Indians lead world in seeking help to reduce drugs intake ..................................... 75
2.27 ‘Not all animals migrate by choice’ campaign launched to raise awareness on illegal wildlife trade ...... 76
2.28 22 May: International Day for Biological Diversity observed ................................................................. 77
2.29 India's Forex reserves up by $1.3 billion to over $420 billion................................................................. 77
2.30 Gold imports rise 54% to $3.97 billion in April ...................................................................................... 78
2.31 WTO quarterly trade growth indicator remains at nine-year low .......................................................... 78
2.32 2019 Meetings of the COPs to the Basel, Rotterdam and Stockholm Conventions ................................ 79
2.33 SC: Foreigner tribunal decision will succeed over NRC .......................................................................... 80
2.34 Competition Commission of India (CCI) celebrates its 10th Annual Day on 20th May 2019 ................... 80
2.35 High level committee recommends strategy to reduce crude oil imports .............................................. 81
2.36 Meghalaya govt approves setting up of Farmers' Commission .............................................................. 82
2.37 Department of Biotechnology (DBT) and Department of Atomic Energy (DAE) sign MoU for cancer
research........................................................................................................................................................... 82
2.38 HDFC Capital launches 'HeART'to mentor real estate technology companies ........................................ 83
2.39 Meeting of Council of Foreign Ministers of SCO, Bishkek, 21-22 May 2019 ........................................... 84
2.40 Maharashtra promulgates ordinance for SEBC quota in medical education .......................................... 84
2.41 India projected to grow at 7.1% in FY20: UN Report ............................................................................. 85
2.42 India generated record number of jobs in January 2019 : EPFO data ..................................................... 86
2.43 IRDAI proposed insurance sandbox to give a leg up to customer experience......................................... 86
2.44 FDI inflows record 1st decline in six years in FY19 ................................................................................. 87
2.45 Asian Development Bank to provide USD 750 million loan to India for railway track electrification project
88
[Regional economic Cooperation] .................................................................................................................... 88
2.46 Algeria and Argentina certified malaria-free by WHO ........................................................................... 89
2.47 China continues to use ozone depleting CFC-11 in violation of Montreal Protocol :Report .................... 89
2.48 Acharya Balkrishna receives 'UNSDG 10 Most Influential People in Healthcare Award' ......................... 90
2.49 25 states miss deadline for plan on plastic disposal .............................................................................. 91

2.50 India elected to Executive Board of first UN-Habitat Assembly ............................................................. 91
2.51 India moves up to 43rd in competitiveness ........................................................................................... 92
2.52 US has removed India from its currency monitoring watchlist............................................................... 93
2.53 Women in Business and Management: ILO Report ............................................................................... 93
2.54 Bank credit to infra sector grows 18.5% in FY19: RBI data ..................................................................... 94
2.55 India's GDP growth forecast at 7.1% for FY20 : FICCI ............................................................................. 95
3 GA + Finance in news ................................................................................................................................... 96

3.1 Income Tax dept, GSTN to share taxpayer data to scale up scrutiny ...................................................... 96
3.2 India's fiscal deficit touched 4.52% at end-February ............................................................................. 96
3.3 Reserve Bank of India releases Annual Report of the Banking Ombudsman Scheme 2006 .................... 97
3.4 GST Revenue collection for April 2019 recorded highest collection since GST implementation ............. 98
3.5 Paytm launches recurring payments service for merchants .................................................................. 99
3.6 RBI imposes fines on PPIs for violating norms ....................................................................................... 99
3.7 RBI raises cap on home loans by SFBs, RRBs ....................................................................................... 100
3.8 RBI plans more forex swaps, steps to inject cash ................................................................................ 101
3.9 Direct tax collections fall short of ₹82,000 crore in FY 19 .................................................................... 102
3.10 SEBI allows FPI investment in municipal bonds ................................................................................... 102
3.11 Chief Economic Advisor Krishnamurthy Subramanian appointed as member of Advisory Council of 15th
Finance Commission ...................................................................................................................................... 103
3.12 Meeting of the 15th Finance Commission with the Reserve Bank of India ........................................... 104
3.13 CBIC organizes meeting of Regional Heads of Customs Administration of the World Customs
Organization (WCO) ....................................................................................................................................... 105
3.14 Banks close FY19 with 13.24% credit growth, deposits up 10.03% ...................................................... 105
3.15 Govt reworking strategic sale procedure for CPSEs ............................................................................. 106
3.16 Bharatpe launches India's first UPI Bahi Khata for merchants ............................................................. 107
3.17 M-wallet transactions rise after a 5-month gap in March: RBI data ..................................................... 107
3.18 RBI appoints R. Gandhi on board of Yes Bank...................................................................................... 108
3.19 Number of ATMs is going down in India : RBI data .............................................................................. 108
3.20 NSE penalises 250 companies for non-compliance of listing, disclosure norms ................................... 109
3.21 RBI releases ‘Payment and Settlement Systems in India: Vision 2019 – 2021’ ..................................... 110
3.22 BSE launches mobile app for its mutual fund platform ........................................................................ 111
3.23 SEBI , RBI examining business models of rating agencies .................................................................... 111
3.24 RBI wants NBFCs with assets over ₹5,000 crore to appoint chief risk officers ...................................... 112
3.25 June 3 to 7 : Financial Literacy Week .................................................................................................. 113
3.26 Sensex posts biggest one-day gain in 10 years, closes at record high .................................................. 113
3.27 SEBI proposes framework for 'regulatory sandbox' for financial institutions ....................................... 114

3.28 Reserve Bank of India Constitutes Task Force on the Development of Secondary Market for Corporate
Loans 115
3.29 Nandan Nilekani-led panel on digital payments submits report to RBI ................................................ 116
3.30 Kerala Becomes First Indian State To Tap Into Masala Bond Market ................................................... 116
3.31 RBI plans to build a cadre for supervisory and regulatory roles ........................................................... 117
3.32 SEBI permits mutual funds to participate in commodity derivatives .................................................... 118
3.33 SEBI proposes to reduce time taken for rights issue process ............................................................... 119
3.34 RBI releases draft circular on “Liquidity Risk Management Framework for Non-Banking Financial
Companies and Core Investment Companies” for public comments ............................................................... 119
3.35 SBI to engage with 1 lakh customers to resolve concerns ................................................................... 120
3.36 RBI tweaks norms on VRR investment by FPIs ..................................................................................... 121
3.37 Motilal Oswal AMC launches WhatsApp transaction platform ............................................................ 121
3.38 Liberalize investment cap, review restrictions for FPIs : SEBI panel ..................................................... 122
3.39 RBI sets up committee for development of housing finance securitisation market .............................. 123
3.40 RBI extends relaxed norms for NBFC loan securitisation till December 31 ........................................... 124
3.41 P-notes investments rise 3.98% from last month to ₹81,220 crore till April end .................................. 125
3.42 Government makes it easier for startups to claim three-year tax holiday............................................ 125
3.43 New RTGS rules to be in affect from June 1st, 2019 ............................................................................. 126
3.44 RBI allows modern currency chests to hike service charges ................................................................ 126
3.45 SEBI tightens disclosure norms for listed debt securities ..................................................................... 127

1 GA in News:
1.1 Indian and French Navies conduct Varuna 19.1 Bilateral Exercise Off Goa coast 1st – 10th May
19
• The exercise will be conducted in two phases

1. The harbour phase would include cross-visits, professional interactions and discussions and
sports events , will take place at Goa
2. The sea phase would comprise various exercises across the spectrum of maritime operations
, and will be conducted in Djibouti
1.2 ICAT to host Nugen Mobility Summit in November 2019
• The International Centre for Automotive Technology (ICAT) is a leading world class automotive
testing, certification and R&D service provider under the aegis of NATRiP (National
Automotive Testing and R&D Infrastructure Project)
• National Automotive Testing and R&D Infrastructure Project (NATRiP) is the largest and one
of the most significant initiatives in Automotive sector between the Government of India, a
number of State Governments and Indian Automotive Industry to create a state-of-the-art
Testing, Validation and R&D infrastructure in the country
1.3 Israel honours 1971 war hero Lt Gen JFR Jacob with a plaque on Ammunition Hill Wall of
Honour
• Israel has honoured Lt. Gen. (retd) Jack Farj Rafael (JFR) Jacob by including him in Wall of
Honour at the Ammunition Hill
• He was one of the most prominent members of India's relatively small Jewish community

• One more plaque honouring an Indian Jewish soldier at ammunition hill of Israel is Lt. Gen.
Joseph 'Jerry' Jhirad, who died in the 1965 war against Pakistan
1.4 India to mark its presence at Venice Biennale
• India is going to participate at the 58th Venice Biennale (11 May- 24 November) which is the
world’s oldest and most prestigious art event
• The India Pavilion at the 58th Venice Biennale seeks to interpret Gandhian values in a
contemporary context
1.5 BHEL signs MoU with ARAI for e-mobility projects
• Bharat Heavy Electricals and Automotive Research Association of India (ARAI) have signed
an MoU for cooperation on various projects related to e-mobility
• ARAI is an autonomous body affiliated to the Ministry of Heavy Industries and Public
Enterprises
1.6 First Indian Army Mountaineering Expedition to Mt Makalu led to discovery of 'Yeti' footprints
• Indian Army has sited a series of huge mysterious footprints measuring 32 inches by 15 inches
on its Mountaineering Expedition
• The footprints are believed to be that of elusive snowman 'Yeti' which is famous in mythical
stories
• Makalu is the fifth highest mountain in the world at 8,485 metres , located in the Nepal

1.7 Emperor Akihito leaves the Japanese throne
• Japanese Emperor Akihito has become the first Japanese monarch to abdicate in two
centuries
• Crown Prince Naruhito will ascend the Chrysanthemum Throne marking the start of a new
era - REIWA from 1st May 2019
1.8 Life-Sized Stucco Sculpture Unearthed in Telangana
• Stucco sculpture of a Bhodhisattva dating back to the first century B.C has been unearthed at
Phanigiri, Telangana
• The sculpture is one of the largest Buddhist stucco sculptures unearthed in India till date
1.9 UN designates JeM chief Masood Azhar as global terrorist

• Jaish-e-Mohammad chief Masood Azhar has been listed as a designated terrorist by the UN
Security Council 1267 Committee
1.10 Fani to make a landfall on Odisha and Andhra Pradesh
• The extremely severe cyclonic storm “Fani” is likely to make landfall near Odisha and Andhra
Pradesh
1.11 Himachal Pradesh clinches junior girls’ title

• Himachal Pradesh team has won the Hero Junior Girls’ National Football Championship in
Kolhapur , Maharashtra by beating Jharkhand by 3-1

1.12 ISRO set to launch second mission to the moon Chandrayan-2 in July
• The mission would land on the southern pole of the moon , which has not been explored much
before by any of the countries
• The mission would comprise Orbiter and Lander modules integrated together as one module
1.13 Vice President releases a postage stamp to commemorate the 750th birth anniversary of Sri
Vedanta Desikan
• Vedanta Desikan was one of most prominent preceptors in ‘Sri Vaishnava’ tradition post
Ramanuja period
• He had authored brilliant poems, prose, drama, epics, commentaries, scientific texts and
philosophical treatises in many languages, mainly Sanskrit, Tamil, Prakrit and Manipravalam
1.14 14th edition of Sino-Indian border trade opens at Nathu La , Sikkim

• The bilateral border trade between the two countries is organized four days a week for six
months, between May 1 and November 30, every year
• It was resumed in 2006 after a gap of 44 years.
1.15 Pak to observe its retaliatory action against India on Feb 27 as 'Operation Swift Retort'
• The Pakistan Air Force (PAF) has decided to observe its retaliatory action on February 27
against the Indian air strikes on the Balakot terror camp as ‘Operation Swift Retort’
1.16 Environmental Defense Fund plans to launch its Methane SAT in 2021
• Environmental Defense Fund is a United States-based nonprofit environmental advocacy
group
• Methane SAT will provide global, high-resolution coverage of methane emissions from oil
and gas facilities and it will also measure surface-level methane emissions from other major
sources of human-caused methane emissions

1.17 Apurvi Chandela is world number one in 10m air rifle
• Indian shooting ace Apurvi Chandela has attained the world number one position in the
women's 10m air rifle event at ISSF World Cup in Beijing, China
• Anjum Moudgil rose to number two after consistent performances in recent years
1.18 Massive Afghanistan peace summit ends in Kabul

• A huge peace meeting called as “Loya Jirga” has just concluded in Kabul
• It was aimed at finding an exit from Afghanistan's war
1.19 Kumar Sangakkara to become first non-British president of MCC
• Former Sri Lanka captain Kumar Sangakkara has been named as the first non-British
president of Marylebone Cricket Club (MCC)
• He will take up his one-year post in October 2019

1.20 World Tuna Day : May 2
• World Tuna Day is observed by United Nations to raise awareness about importance of tuna
and to promote more sustainable fishing practices across the world
• It highlights the importance of sustainably managed fish stocks in achieving the 2030 Agenda
for Sustainable Development
1.21 World Press Freedom Day : May 3
• On the anniversary of the Declaration of Windhoek , World Press Freedom Day was proclaimed
by the UN General Assembly in December 1993
• 2019 Theme: Media for Democracy: Journalism and Elections in Times of Disinformation
1.22 Dilip Kumar appointed as Officer on Special Duty in office of Lokpal
• Dilip kumar has been appointed as Officer on Special Duty in office of Lokpal , this is the first
official appointment of a bureaucrat in Lokpal.
• He has been appointed for a period of six months on additional charge basis or till a new
incumbent joins the post.
1.23 Sanjay Gandhi National Park (SGNP) lost its last surviving white tiger
• The last captive white tiger named Bajirao living in Sanjay Gandhi National Park , Mumbai has
passed away

1.24 ISRO plans to launch radar imaging satellite in May 2019
• India is planning to launch its radar imaging satellite RISAT 2BR1 towards the end of May 2019
• It will be launched on one of the variants of its Polar Satellite Launch Vehicle (PSLV) rocket
1.25 Rs 3,600 crore proposal to buy Russia’s Kamov-31 AEW helicopters cleared
• The Defence Acquisition Council (DAC) headed by Defence minister Nirmala Sitharaman has
recently approved the Rs 3,600 crore proposal to buy 10 Kamov-31 AEW Helicopters from
Russia for the Indian Navy.
• The Ka-31 helicopter is a variant of the older Russian Ka-29 maritime helicopter and is
specifically meant for the airborne early warning (AEW) role
1.26 Article on Coalgate wins ACJ Award for Investigative Journalism

• The article titled Coalgate 2.0' year has won the ACJ Award for Investigative Journalism
• It has been authored by Nileena M S and published in The Caravan magazine in March 2018
1.27 Barcelona legend Xavi Hernandez announces retirement
• Barcelona midfielder Xavi Hernandez has announced that the 2018/19 season will be his final
one as a professional footballer
1.28 Karnataka limits weight of schoolbags

• Karnataka government has issued an order directing all schools in the State, including
government, aided and unaided institutions, to ensure that the weight of a schoolbag is not
more than 10% of the child’s weight

1.29 ISRO launches its second commercial company NewSpace
• In the month of March 2019 , the Department of Space registered NewSpace India Ltd. (NSIL)
as its commercial entity with its headquarters in Bengaluru
• NSIL has an authorised capital of ₹10 crore and a paid-up capital of ₹1 crore
1.30 North Korea fires short-range projectiles, raising tensions amid stalled US talks
• North Korea has fired several short-range projectiles from its east coast, and this comes after
the launch of Intercontinental ballistic missiles in the year 2017
1.31 Coronation begins for King Maha Vajiralongkorn of Thailand

• The coronation ceremony for King Maha Vajiralongkorn of Chakri dynasty of Thailand ,he is
also known as Rama X
1.32 IIT Kanpur identifies novel molecule to control hyper inflammation

• Researchers at the Indian Institute of Technology (IIT) Kanpur have identified and
characterized a novel small protein molecule that can effectively control inflammation leading
to better treatment outcomes
1.33 Nepali girl dances for 126 hours, sets new world record
• Nepal teenage dancing sensation Bandana Nepal has set a new Guinness World Record on
'Longest Dancing Marathon by an Individual' by dancing continuously for 126 hours

1.34 ‘Chandanotsavam’ at Simhachalam temple in A.P.
• Annual ‘Chandanotsavam’ festival of Lord Varaha will be held on May 7th, 2019
• It will take place at Lakshmi Narasimha Swamy temple in Simhachalam, Andhra Pradesh
1.35 Asian Squash championship: Ghosal and Joshna script history
• Saurav Ghosal and Joshna Chinappa have emerged as the champions in the Asian squash
championship which has taken place in Malaysia
• This is the first time that two Indians have finished on top in the same tournament
1.36 Launch of Fourth Scorpene Class Submarine – VELA

• Fourth Scorpene class submarine VELA has been launched on 6th May 2019
• It has been constructed by Mazagon Dock Shipbuilders Limited for the Indian Navy
1.37 ‘Zero Pendency Courts Project’ launched by Delhi High Court

• It is aimed to study the life cycle of cases to come up with optimal timelines for cases
• The project will provide information on the judicial time required to dispose of a case together
with the gathering stage wise details in each case
1.38 Microsoft unveils its own Blockchain-based service

• Azure Blockchain Service by Microsoft will let businesses develop their applications on its
Cloud-based platform

• With a few simple clicks, users can create and deploy a permissioned Blockchain network and
manage consortium policies
1.39 For the first time ,nests of grizzled giant squirrel spotted in Tamil Nadu
• Grizzled giant squirrel at Pakkamalai Reserve Forests near Gingee in the Eastern Ghats.
• It is an endangered species listed under:
1. Schedule I of the Wildlife Protection Act, 1972
2. near threatened under Red List of IUCN
3. Schedule II of CITES.
1.40 May 7 :BRO celebrates 59th Raising Day

The leading road construction agency under the defence ministry, Border Road Organization has
celebrated its 59th raising Day
1.41 Purple frog set to be crowned Kerala’s state amphibian
• Purple frog with the scientific name of Nasikabatrachus sahyadrensis is soon going to be State
amphibian of Kerala
• It is listed as endangered on the red list of the International Union for Conservation of Nature
(IUCN) and is endemic to this part of the southern Western Ghats and cannot be found
anywhere else
• It lives almost its entire life in underground tunnels and comes out to the surface for a single
day in a year to breed
1.42 May 7 : Basava Jayanti 2019

• Basava Jayanthi is observed on the occasion of the birthday of Basavanna , a Kannada poet
and philosopher of 12th century
1.43 TCS set to become world’s third-largest IT services company

• Tata Consultancy Services Ltd (TCS) is set to surpass DXC Technology Co. to become the world’s
third-largest software services provider in fiscal 2018-19
• Afterwards , it will only lag behind International Business Machines Corp. and Accenture Plc.

1.44 India, UK in talks to build Naval supercarrier under “Make in India”
• The talks are under way for the Indian Navy to buy detailed plans for the 65,000-ton British
warship to build a so-called “copycat supercarrier” to be named INS Vishal in 2022.
1.45 G D 'Robert' Govender conferred with V K Krishna Menon award

• G D 'Robert' Govender has been honoured posthumously in the UK with 2019 V K
Krishna Menon award for his outstanding contribution as a pioneer of decolonised
journalism
• He is an Indian-origin journalist in South Africa
1.46 2 Indians Among 115 UN Personnel Honoured For Sacrifice In Line Of Duty
• An Indian police officer deployed to the UN mission in Congo and a consultant with the UN
development programme who was killed in the Ethiopian Airlines plane crash have been
honored by the global organization for their sacrifice in the line of duty
• They are among 115 UN peacekeepers and staff honoured by UN
1.47 May 8 : World Thalassemia Day 2019

• The International Thalassemia Day honors all patients with thalassaemia and their parents
who have never lost hope for life, despite the burden of their disease
• The theme for ITD2019 is: “Universal access to quality thalassaemia healthcare services:
Building bridges with and for patients”
1.48 Donald Trump awards Presidential Medal of Freedom to Tiger Woods
• The United States President Donald Trump has awarded “Presidential Medal of Freedom” to
golfer Tiger Woods
• He is the youngest professional golfer to receive prestigious highest civilian honor
1.49 Scientists carry out genetic study on people of Lakshadweep Islands

• Genetic studies have been done on the people of the archipelago by a team of scientist from
CSIR-Centre for Cellular and Molecular Biology (CCMB) for the first time

• The study has shown that a majority of human ancestry in Lakshadweep is largely derived
from South Asia with minor influences from East and West Eurasia
1.50 WHO for eliminating industrially produced trans fats by 2023

• The WHO has partnered with the International Food and Beverage Alliance (IFBA) to
eliminate trans fats from the industrially produced global food supply by 2023
• Trans fats are the worst form of fat in food and are responsible for over 5,00,000 deaths
globally from coronary heart disease each year
1.51 India’s newest pit viper found in Arunachal Pradesh

• A team of herpetologists have discovered a new species of reddish-brown pit viper called as
Arunachal Pit Viper
• It is a venomous snake with a unique heat-sensing system
• This discovery has made Arunachal Pradesh the only Indian state to have a pit viper named
after it
1.52 Iceland is Cleaning Air by Turning CO2 into Rock
• Scientists in Iceland have turned carbon dioxide into stone by pumping it deep underground
under the project called Carbfix
• It is being done at Iceland’s Hellisheidi plant, which is the world’s largest geothermal facility
1.53 Iran says it will not honour nuclear curbs

• Iran has announced that it would defy some limits it had accepted under the 2015 agreement
if Europe, China and Russia fail to deliver sanctions relief within 60 days
• The 2015 agreement was aimed at ensuring Tehran's nuclear program to be exclusively
peaceful
1.54 Char Dham Yatra begins in Uttarakhand
• The Char Dham Yatra in Garhwal Himalayas has begun on 9th May 2019 with the portals of
Gangotri and Yamunotri temples in Uttarkashi district
• The Char Dham Yatra or journey to four holy sites commences from Yamunotri, then proceeds
to Gangotri and finally to Kedarnath and Badrinath
1.55 Indian student trio emerges first runner-up in Microsoft's Imagine Cup World Championship
• Aakash Bhadana , Vasu Kaushik and Bharat Sundal – have won the first runner-up position
in the Asia Regional Final contest that was held in Sydney in February 2019
• The have developed "Caeli", which is the world's first smart automated anti-pollution and drug
delivery mask specifically designed for asthmatic and chronic respiratory patients
• The championship was won by the “Team EasyGlucose” from the United States
1.56 Shyam Benegal to direct Indo-Bangla film on Sheikh Mujibur Rahman
• A feature film on the life and works of Bangabandhu Sheikh Mujibur Rahman is going to be
jointly produced by India and Bangladesh
• It will be directed by acclaimed Indian filmmaker Shyam Benegal
1.57 5th United Nations Global Road Safety Week
• The Global Safety Week has begun on May 6 , with the theme for this year : “Save Lives, Speak
Up”
• The UN Global Road Safety Weeks and its’ campaigns are coordinated by United Nations Road
Safety Collaboration, chaired by World Health Organization

1.58 World Red Cross Day: May 8
• Theme for the year 2019 is ‘#Love’

• The celebration of this day aims to broaden the public’s understanding of the society by
highlighting the diversity and universality of its work and approach
1.59 India's Jagjit Pavadia re-elected to International Narcotics Control Board
• Jagjit Pavadia has been a member of the INCB since 2015 , this is her second term which is
set to expire in 2020
• International Narcotics Control Board (INCB) is an independent, quasi-judicial expert body
established by the Single Convention on Narcotic Drugs of 1961
1.60 Father of modern legal education NR Madhava Menon passes away
• Prof N.R. Madhava Menon was an educationist, scholar and the pioneering spirit behind
modern legal education in India
• He was the founder director of the National Law School of India University Bangalore and
headed it for 12 years
• Menon’s journey of life has been published in the autobiographical narrative “Turning Point"
1.61 India could be the first country to test Facebook's digital currency: Report
• Facebook is developing a type of digital currency called “stablecoin”

• The first country that will test the currency will be India , it would allow users to transfer
money for remittances via WhatsApp through stablecoin
1.62 Lakshadweep recruits barn owls to fight rodent menace

• Coconut is an important cash crop for the islands, but the pesky rodents have accounted for
30-40% of the yield loss
• This is a biocontrol measure by the Lakshadweep Administration, where in the Krishi Vigyan
Kendra (KVK) have been providing the technical knowhow
1.63 First Apache Helicopter formally handed over to The IAF
• First AH-64E (I) - Apache Guardian helicopter has been formally handed over to the Indian Air
Force at Boeing production facility in Mesa, Arizona, USA on 10 May 2019
• IAF had signed a contract with US Government and M/s Boeing Ltd in Sep 2015 for 22 Apache
helicopters
• The first batch of these helicopters is scheduled to be shipped to India by July this year
1.64 India joins US, Japan, and Philippines for naval drills in South China Sea
• Two Indian naval ships have joined the ships from the US, Japan, and The Philippines for a
“Group Sail" exercise in the South China Sea
• INS Kolkata and Shakti have participated from Indian side and these are the same vessels that
took part in the International Fleet Review in China’s port city of Qingdao as part of the 70th
anniversary celebrations of Chinese People’s Liberation Army (Navy) in the month of April 2019
1.65 Singapore reports first case of rare monkeypox virus

• Singapore has reported its first case of the rare monkeypox virus
• It is a virus similar to the human smallpox, which was eradicated in 1980 and It does not spread
easily from person to person

1.66 World's fastest bullet train starts test run
• Japan has started the testing of its fastest-ever shinkansen bullet train, capable of speeds of
as much as 400 kilometers (249 miles) per hour
• It is called as the Alfa-X and it is scheduled to go into service in 2030
1.67 Tamil novelist and Sahitya Akademi awardee Thoppil Mohamed Meeran dies aged 74
• He had received 8 awards including the Sahitya Akademi Award and Tamil Nadu Kalai
Ilakkiya Perumantram Award in 1992
1.68 Igor Stimac appointed new India men's football team coach
• Executive Committee of the All India Football Federation (AIFF) has appointed Igor Stimac as
the head coach of the men’s senior national team coach on a two-year contract.
1.69 Amul to sponsor Afghanistan in 2019 World Cup
• Amul has been announced as the principal sponsor of the Afghanistan cricket team for the
upcoming World Cup, which is going to be held in England and Wales from May 30th, 2019
1.70 IAF jets intercept Georgian aircraft coming from Pakistan

• IAF fighter jets intercepted a Georgian An-12 aircraft flying from Tbilisi to Delhi via Karachi
and forced it to land at the Jaipur airport after the plane entered the Indian air space from an
unscheduled point

• After investigation , it was revealed that it was a non-scheduled flight from Tbilisi for
Delhi via Karachi
1.71 CCI probes Google over unfair business activities
• The Competition Commission of India (CCI) has started a probe against Google for
alleged anti-competitive practices with respect to its popular Android platform for
mobile phones
1.72 Amazon unveils its moon lander : Blue Moon
• The space company of Amazon , Blue Origin has unveiled its lunar lander on 11th May 2019
• It would be used to transport equipment, and possibly even human beings, to the south pole
of the Moon by 2024.
1.73 ITC's longest-serving chairman Y C Deveshwar passes away
• The chairman of ITC group Y C Deveshwar has passed away on 10th May 2019
• He was one of India’s longest-serving corporate chiefs who took over as chairman of ITC
group in January 1996
• Sanjiv Puri has been appointed ITC’s New Chairman

1.74 Hinduja brothers named UK's wealthiest people for the third time
• The billionaire Hinduja brothers have been named as the wealthiest people in the UK for a
third time
• The Hinduja Group was founded in Mumbai in 1914, and now it has interests around the world
including in oil and gas, banking, IT and property.
1.75 Inaugural edition of world's first women's cricket magazine 'CRICZONE'
• Indian team vice-captain Smriti Mandhana has been featured as the cover story
• It is the world’s first magazine which features only women cricketers
1.76 World Migratory Bird Day 2019

• World Migratory Bird Day is an annual, global awareness-raising campaign highlighting the
need for the conservation of migratory birds and their habitats
• It is organized by the Secretariats of the Convention on the Conservation of Migratory Species
of Wild Animals (CMS) and the African-Eurasian Migratory Waterbird Agreement (AEWA)
• The theme of World Migratory Bird Day 2019 is ‘Protect Birds: Be the Solution to Plastic
Pollution’!
1.77 Actress Dia Mirza, Alibaba chief among 17 new 'SDG Advocates' of UN
• Indian actress Dia Mirza and Alibaba chief Jack Ma are among the 17 global public figures that
have been appointed as the new advocates to drive action and solidify global political will for
the ambitious Sustainable Development Goals (SDGs).
1.78 Konkan Railways signs agreement with Nepal

• Konkan Railways Corporation Ltd (KRCL) has signed an agreement with Nepal's Department
of Railways to provide two 1600 HP DEMU train sets.
1.79 11 May : National Technology Day

• May 11 is observed as the National Technology Day in India
• This day marks the anniversary of Pokhran nuclear tests of 1998 and India's technological
advancements in this space

• Pokhran nuclear tests were a series of five nuclear bomb test explosions conducted by India
at the Indian Army's Pokhran Test Range
1.80 12 May : International Nurses Day
• 12 May is celebrated as International Nurses Day to commemorate the birth of Florence

Nightingale, the founder of modern nursing.
1.81 Justice Abhay Shreeniwas Oka takes oath as Chief Justice of Karnataka High Court
• Justice Oka was serving as the second senior-most judge in High Court of Bombay till his
elevation to Karnataka High Court as Chief Justice.
1.82 Padma Shri awardee Bhojpuri singer Hiralal Yadav passes away
• Hiralal Yadav was a well-known Bhojpuri folk singer from the 'Birha' genre, which revolves
around the separation of a lover from his beloved
• He was conferred upon with Padma Shri award in January 2019
1.83 DRDO Successfully Conducts Flight Test of ABHYAS

• DRDO has conducted successful flight test of ABHYAS - High-speed Expendable Aerial Target
(HEAT) from Interim Test Range, Chandipur in Odisha
1.84 India Pavilion to be inaugurated at Cannes
• India Pavilion will be inaugurated at Cannes Film Festival, which will be held from 14th to 25th
May 2019
• The Pavilion will showcase Indian cinema across linguistic, cultural and regional diversity

1.85 300 Himalayan yaks starve to death in Sikkim
• 300 yaks have died due to starvation in a remote Himalayan valley after a bout of unusually
harsh winter weather.
• It appears that these dead yaks had got nothing to eat during the prolonged period of
snowfall since December last year
1.86 IAAF World Relays Yokohama 2019 conclude

• IAAF World Relays Yokohama 2019 has concluded at Yokohama International Stadium, Japan
• It offers platform for athletes to qualify for upcoming 2019 IAAF World Athletics
Championships to be held in Doha, Qatar in September-October 2019
1.87 Ireland declares climate emergency
• Ireland's parliament has become the second in the world to declare a climate emergency
• Britain's parliament became the first in the world to declare a climate emergency, passing the
largely symbolic motion on May 1st , 2019
1.88 Manchester City retains Premier League title on final day of season
• Manchester City has retained the English Premier League trophy for the second year
• Liverpool has got the second position in the league
1.89 Lewis Hamilton wins Spanish GP

• Lewis Hamilton won the Formula One Spanish Grand Prix at Circuit de Catalunya, Barcelona
1.90 CCMB scientists’ sequence Asiatic lion genome
• For the first time, the entire genome of Asiatic lion has been sequenced by scientists from
CSIR-Centre for Cellular and Molecular Biology, Hyderabad.

• The genome sequencing would enable scientists to develop specific markers to study
population genetics
1.91 Jaisalmer to host International Army Scout Masters Competition 2019
• As a part of International Army Games , International Army Scout Masters Competition will be
organized under the aegis of Konark Corps at Jaisalmer from 24 July to 17 August 2019
• The event will witness participation of the Mechanised Infantry Scout Teams of eight countries
including Russia.
1.92 Indian rhinos will have DNA database soon

• Indian rhino could be the first wild animal species in India to have all its members DNA-
sequenced by the year 2021
• This exercise would be useful in curbing poaching and gathering evidence in wildlife crimes
involving rhinos
• There are about 2,600 rhinos in India, with more than 90% of the population concentrated in
Assam’s Kaziranga National Park
1.93 ADMM-PLUS exercise concluded in Singapore
• The ASEAN Defense Ministers’ Meeting (ADMM)-Plus Maritime Security Field Training
Exercise (MS FTX) has concluded in the South China Sea on 13th May 2019
• The exercise has taken place at RSS Singapura in Singapore
• International Maritime Defense Exposition (IMDEX) 2019 in going to take place in Singapore
from May 14th to 16th
1.94 Madrid Open Tennis 2019

• Women’s singles title : Kiki Bertens of Netherlands has won the title by beating Simona Halep
of Romania
• Men’s singles title : Novak Djokovic of Serbia has won the title by beating Stefanos Tsitsipas of
Greece

1.95 Indian Premier League 2019: Mumbai Indian wins the title
• Mumbai Indians have won the Indian Premier League title 2019 by defeating Chennai Super
Kings (CSK) in finals by 1 run
• The final match had taken place in Hyderabad
1.96 China to host Conference on Dialogue of Asian Civilizations

• China is going to host a Conference on Dialogue of Asian Civilizations in Beijing from 15 May to
22 May 2019
• Theme of the event is "Exchanges and Mutual Learning among Asian Civilizations and a
Community with a Shared Future”itc
1.97 India’s GS Lakshmi becomes first female to be appointed ICC Match Referee
• G.S Lakshmi was appointed as a match referee in domestic women’s cricket in 2008-09
• She has now become the first woman to be appointed to International Cricket Council’s (ICC)
International Panel of Match Referee
1.98 Aarohi Pandit becomes world's first woman to fly solo across Atlantic Ocean
• Aarohi Pandit , at the age of 23 , has become the world’s first female pilot to fly solo across the
Atlantic Ocean in a Light Sport Aircraft (LSA)
• She has also become the first female pilot in the world to successfully complete a solo flight
across the Greenland ice cap in an LSA
1.99 15th May : International Day of Families

• Theme for this year is: “Families and Climate Action: Focus on SDG 13”
• The day is organized by ‘Division for Inclusive Social Development’ (DISD), under UN’s
Department of Economic and Social Affairs in collaboration with Global Communications Civil
Society
1.100 One of India’s Smallest Orchids discovered in Assam

• “Lecanorchis taiwaniana” has been accidentally discovered in Assam by a state forest officer
• The orchid is one of the smallest botanically recorded orchids in terms of size and duration of
bloom
1.101Women to referee men’s AFC Cup clash

• The Asian Football Confederation has announced that for the first time an all-female referee
team will take charge of a men’s continental club cup clash
• Japanese referee Yoshimi Yamashita and assistants Makoto Bozono and Naomi Teshirogi will
officiate the AFC Cup match

1.102ICC Cricket World Cup 2019 - Every team to have dedicated anti-corruption officer during
World Cup
• Each team at the World Cup will have a dedicated anti-corruption officer for the first time, as
part of strengthened attempts to keep the competition free of any fixing controversies.
• The tournament is being hosted by England from May 30th to July 14th, 2019
1.103Indian Coast Guard Ship (ICGS) Vigraha decommissioned
• Indian Coast Guard Ship (ICGS) Vigraha has been decommissioned after 29 glorious years of
service from 1990 to 2019, the ship was decommissioned at the coast guard
• Vigraha is a frontline offshore patrol vessel built by the Mazagaon Dock Limited, Mumbai
1.104Ex-Supreme Court judge Madan Lokur appointed to Fiji SC
• Retired Supreme Court judge Justice Madan Lokur has been appointed to the non-resident
panel of Supreme Court of Fiji's for a period of three years
• He has become the first judge from the Indian apex court to be appointed
1.105Vande Bharat Express crosses another milestone

• The indigenously-built Vande Bharat Express has completed one lakh running kilometres
without missing a single trip
• The Vande Bharat Express began its first commercial run from February 17, 2019 and will soon
start replacing Shatabdi Express trains

1.106Indian Navy successfully test-fires MRSAM missile
• The Indian Navy has successfully test-fired a Medium Range Surface to Air Missile (MRSAM),
enhancing its anti-air warfare capability
• The test-firing of the missile was carried out jointly by the Indian Navy, Defence Research and
Development Organisation (DRDO) and Israel Aerospace Industries
1.107U.S., U.K. teams share $10mn XPRIZE award for child literacy
• “Kitkit School” from the U.S. and “onebillion” from the U.K. have been declared co-winners
of the XPRIZE for global learning
• A team from Bengaluru was among the five finalists
• The XPRIZE For Global Learning has been funded by Elon Musk
1.108World Telecom Day: May 17th

• The anniversary of the signing of the first International Telegraph Convention and the
creation of the International Telecommunication Union (ITU) is celebrated as the World
Telecommunication and Information Society Day
• The theme this year is ‘Bridging the Standardization Gap’
1.109BSNL partners with Google to expand WiFi footprint

• On the occasion of World Telecom Day, BSNL has partnered with Google to increase access
to its WiFi footprint in the country.
• This initiative will allow customers use BSNL's high speed internet services on WiFi
1.110Israel proposes India to be the focus country in Jerusalem Film Festival, 2020
• Israel has proposed India to be the focus country at Jerusalem Film Festival next year in 2020

1.111Kerala Assembly to digitise all records
• Legislative Assembly of Kerala has decided to go completely paperless with the state
government undertaking an initiative to digitise all records
• The project is called as e-Vidhan
1.112WhatsApp confirms spyware attack
• WhatsApp has confirmed spyware attack due to a security flaw in the app
• The app is used by 1.5 billion people around the world
1.113Claude Monet's 'Mueles' sells for record breaking $110.7 mn
• Painter Claude Monet is famous for his Impressionist paintings

• His painting called “Mueles” has sold for a record breaking amount of $110.7 mn
1.114Project ‘SPARROW-CBIC’ for online writing of Annual Performance Appraisal Report (APAR)
• Government of India has implemented Project ‘Smart Performance Appraisal Report
Recording Online Window’ (SPARROW) for online writing of Annual Performance Appraisal
Report (APAR)
• It has been implemented for over 46,000 Group ‘B’ and Group ‘C’ Officers of Central Board of
Indirect Taxes & Customs (CBIC) working in its various formations all across India.
1.115China to host 2023 Asian Cup

• China is going to host the Football Asia Cup of 2023
• It has been confirmed after the withdrawal of South Korea from the bid to host the cup

1.116New plastic that could be fully recycled created by Berkeley Lab
• The scientists at Berkeley Lab , US have created a next-generation plastic that can be fully
recycled into new materials of any colour, shape, or form, without loss of performance or
quality.
1.117Taiwan becomes first in Asia to legalize same-sex marriage

• Recently Taiwan’s legislature has voted to fully legalize same-sex unions.
• With the passage of this legislature , Taiwan has become the first country in Asia to do so.
1.118 16th May : The world celebrates the Second International Day of Light
• The day marks the global celebration of the second edition of the International Day of Light
• The day is an official observance of UNESCO and provides an annual focal point for the
continued appreciation of light and the role it plays in science, culture and art, education,
and sustainable development, and in fields as diverse as medicine, communications, and
energy.
1.119Trump unveils merit-based immigration system

• US President Donald Trump has rolled out a merit-based immigration system from which
foreigners stand to get benefit
• The immigration reform proposals significantly increase the quota for skilled workers from
existing nearly 12 per cent to 57 per cent
• Immigrants will be required to learn English and pass a civics exam prior to admission
1.120The architect of Louvre Pyramid , I.M. Pei dies at 102

• Ieoh Ming Pei, the famous Chinese-US architect has died at age of 102 years
• He has created a distinct brand of modern building design with his sharp lines and exquisite
structures
1.121SIMBEX-2019 scheduled from 16 May to 22 May 2019

• IN ships Kolkata are going to participate in the annual Singapore India Maritime Bilateral
Exercise SIMBEX-2019 scheduled from 16 May to 22 May 2019
• The harbour phase of SIMBEX-19 has been conducted from 16th may to 18th may , and the
Sea Phase has taken place from 19th May to 22nd May in South China Sea

1.122World gets the redefined units of measurement of Kilogram, Kelvin, Mole and Ampere
• Four of the seven base units have been redefined - the kilogram (SI unit of weight), Kelvin (SI
unit of temperature), mole (SI unit of amount of substance), and ampere (SI unit of current)
• The new SI is going to be implemented worldwide from 20th May 2019 i.e. the World
Metrology Day
• The World Metrology Day (WMD) is celebrated annually on this very day as the Metre
Convention was signed by representatives of seventeen nations on May 20, 1875
1.12318 May: celebration of ‘Buddha Purnima’
• 18th May is observed as the 2,563rd birth anniversary of the Buddha and is being celebrated
across the world as Buddha Purnima or Vishak Purnima
1.124Celebrated author Herman Wouk dies at the age of 103

• Wouk was the author of “The Winds of War” and “War and Remembrance”, two historical
novels about World War II that were published in 1971 and 1978
1.125India hands over two Mi-24 helicopters to Afghanistan

• India has handed over a pair of Mi-24 helicopters to Afghanistan with the aim of strengthening
the Afghan air force
• Afghanistan is facing battles against a deadly Taliban insurgency
• These are a replacement for the four attack helicopters previously gifted by India to
Afghanistan in 2015
• The Mi-24 is a large helicopter gunship and can be used for assault and transport missions
1.126 John F Kennedy Profile in Courage Award 2019 goes to Nancy Pelosi
• The USA’s House of Representatives (lower house of US) Speaker Nancy Pelosi has been
honoured with 2019 John F Kennedy Profile in Courage Award

• It seeks to honor J.F. Kennedy and to recognize and celebrate quality of political courage
1.127 20 May: World Bee Day
• The World Bee Day is celebrated every year on May 20 marking the birth anniversary of
beekeeping pioneer Anton Jansa
• The theme for World Bee Day 2019 was “Save the Bees”
1.128 BWF launched 2 New Formats of Badminton Game

• The Badminton World Federation (BWF) has launched two new formats of badminton game
namely, Air Badminton and Triples
• In contrast to traditional competitive badminton which is an indoor game the Air badminton
is an outdoor game
1.129 Evidence of water found on Ultima Thule: NASA

• NASA has found evidence for a unique mixture of methanol, water ice, and organic molecules
on Ultima Thule's surface
• Ultima Thule is a contact binary, with two distinctly differently shaped lobes and is an object
of Kuiper belt called as 2014 MU69
• It was discovered by NASA’s New Horizons spacecraft
1.130 ISRO puts imaging satellite RISAT 2B into orbit
• On 21st May 2019 , India has launched RISAT 2B, a radar imaging earth observation satellite,
weighing 615 kg
• The satellite can observe and image the earth from about 500 km and has the capability to
image earth resources as well as enhance surveillance and security
• The Polar Satellite Launch Vehicle (PSLV-C46) was used as a launch vehicle to place the
satellite in its orbit

1.131 ISRO plans to conduct seven mega missions over next 10 years
• ISRO has plans to launch ambitious Chandrayaan-2 in July 2019

• Apart from this project , ISRO plans to accomplish six other mega missions over the next 10
years
• The other missions are - XPoSat (mission to study polarization) , Aditya-L1 missions ,
Mangalyaan-2, Venus mission, Lunar Polar Exploration and Exoworlds
1.132 US approves missile sales to South Korea, Japan

• The United States has approved more than USD 600 million in sales of air defense missiles to
South Korea and Japan
• This has been done in the background of increasing tensions return with North Korea
1.133 8th Indo – Myanmar Coordinated Patrol
• ‘Opening Ceremony’ of the 8th Indo-Myanmar coordinated patrol (IMCOR) has taken place
at Andaman and Nicobar Command on 21st May 2019
• The CORPAT initiative between the two navies is meant to address issues of terrorism, illegal
fishing, drug trafficking, human trafficking, poaching and other illegal activities inimical to
interest of both nations
1.134 BrahMos Air Launched Missile tested from Su-30 MKI Aircraft
• IAF has successfully fired the BrahMos air version missile from its frontline Su-30 MKI fighter
aircraft
• The air launched BrahMos missile is a 2.5 ton supersonic air to surface cruise missile with
ranges of close to 300 km

1.135 NITI Aayog proposes Rs 7,500-crore plan for Artificial Intelligence push
• NITI Aayog has circulated a cabinet note to provide Rs 7,500 crore in funding for creation of
cloud computing platform called AIRAWAT and research institutes
• The entire AI mission will be monitored by a task force which is going to be headed by a
member of NITI Aayog with representation from all ministries and states besides experts as
its key members
1.136 SBI ties up with FMCG arm of The Art of Living

• The State Bank of India (SBI) has announced a strategic partnership with the FMCG arm of
The Art of Living — Sri Sri Tattva.
• Under this partnership, YONO users (SBI app) can avail a discount of 15 per cent on the entire
range of products offered by Sri Sri Tattva such as food, personal care, healthcare, homecare,
BYOGI apparels and Shankara skincare products.
1.137 After US ban, Google restricts Huawei from using Android apps and updates
• Alphabet Inc's Google has suspended business with Huawei restricting it to use its android
app
• This decision has come in the background of US administration adding Huawei Technologies
Co Ltd to a trade blacklist
1.138 Reliance beats Indian Oil Corp to become biggest Indian company by revenue
• Reliance industries has reported a turnover of Rs 6.23 lakh crore in the 2018-19 fiscal year
• Public Sector Enterprise state-owned Indian Oil Corp (IOC) has been replaced by Reliance to
become the country's biggest company by revenue

1.139 Tennis Italian Open 2019 concludes in Italy
• Rafael Nadal of Spain has defeated Novak Djokovic of Serbia in finals and won men’s singles
title at Italian Open 2019, held in Rome
• Karolina Pliskova from Czech Republic has won womes’s single title by defeating Johanna
Konta
• The event Italian Open is also known as Rome Masters
1.140 UGC asks universities to observe May 21 as Anti-Terrorism Day

• University Grants Commission (UGC) has directed varsities and higher educational institutions
to observe May 21 as Anti-Terrorism Day
• It has been suggested to wean the youth away from terrorism
1.141 Shyam Saran to be conferred with Japan's 'Order of the Rising Sun' award
• Former foreign secretary Shyam Saran will be conferred with Japan's second highest national
award.
• He has been selected for his contributions to strengthen the strategic ties and enhancing
mutual understanding between India and Japan
1.142 May 21st : World Day for Cultural Diversity for Dialogue and Development
• The year 2019 has been declared ‘International Year of Indigenous Languages’ by UN General
Assembly
• This has been done to bring awareness to importance of linguistic diversity
1.143 Formula One legend Niki Lauda dies aged 70
• Three-time Formula One world champion Niki Lauda has passed away at the age of 70.
1.144 UAE launches 'Golden Card' scheme to woo wealthy investors, exceptional talents
• The United Arab Emirates has launched a permanent residency scheme to woo wealthy
individuals and exceptional talents
• This move is expected to attract more Indian professionals and businessmen to the Gulf
nation

• The scheme is open to investors and "exceptional talents" such as doctors, engineers,
scientists, students and artists
1.145 Indian peacekeeper Jitendra Kumar to be honoured posthumously with UN medal

• Indian peacekeeper Jitendra Kumar is among the 119 military, police and civilian personnel
who will be honoured in 2019 with a prestigious UN medal for courage and sacrifice in the
line of duty
• Police Officer Jitender Kumar made the supreme sacrifice while serving in the UN
Organisation Stabilisation Mission in the Democratic Republic of the Congo (MONUSCO).
1.146 36th Youth National Basketball Championship 2019
• Haryana and Kerala have clinched the boys’ and girls’ titles in the 36th Youth
National Basketball Championship at the PSG Tech Indoor Stadium courts in Coimbatore ,
Tamil Nadu
• The under-16 championship has taken place from May 14 – 21 , 2019
1.147 IAF successfully test fires aerial version of BrahMos missile
• The Indian Air Force has successfully test fired the aerial version of the supersonic BrahMos
cruise missile from a Su-30 MKI fighter aircraft.
• The BrahMos cruise missile travels at a speed of Mach 2.8, nearly three times that of sound.
• The IAF became the first air force in the world to have successfully fired an air-launched 2.8
Mach surface attack missile of this category on a sea target on November 22, 2017.

1.148 SpaceX launches first 60 satellites of its internet network
• On 23rd May 2019 , SpaceX launched a rocket carrying the first 60 satellites of its "Starlink"
constellation, which is intended to provide internet from space
• Starlink will become operational once 800 satellites have been activated
1.149 Four new SC judges have taken oath

• As per a circular issued by the apex court, Justices B.R. Gavai, Surya Kant, Aniruddha Bose
and A.S. Bopanna have taken the oath as the Justice of the Supreme Court of India
• The appointment of 4 new judges has raised the number of judges to 31 which is the full
sanctioned strength of Justice
1.150 CSO, MOSPI to be merged into National Statistical Office

• The government has decided to merge the Central Statistical Office (CSO) and National
Sample Survey Office under the Ministry of Statistics and Programme Implementation
(MOSPI) into a single entity.
• The new merged entity has been named the National Statistical Office (NSO) and will be
headed by the secretary of MOSPI.
1.151 Tata Consultancy Services listed among top 50 US companies for diversity
• Recently , Tata Consultancy Services (TCS) has been recognized in DiversityInc's "2019 Top 50
Companies for Diversity" in the US.
• It has been selected for its sustained investments and efforts in diversity and inclusion

1.152 Man Booker International Prize 2019 winner : Jokha Alharthi
• Jokha Alharthi has become the first woman author of Arabic language to win this prize
• He novel “Celestial Bodies” has got her this award
• It is a story of three sisters of a desert country confronting its slave-owning past and complex
modern world
1.153 Bhawana Kanth: First woman fighter pilot of Indian Air Force
• Flight Lieutenant Bhawana Kanth has become the first woman pilot of the Indian Air Force to
qualify to undertake combat missions on a fighter jet
• In July 2016 , three women – Bhawna Kanth, Avani Chaturvedi and Mohana Singh were
commissioned as flying officers
1.154 Assam Rifles battalion and Indian Coast Guard ship sign affiliation charter
• An affiliation charter has been signed between Naga Hills Battalion of the Assam Rifles and
the Indian Coast Guard Ship 'Shaurya'
• Objective of the affiliation is to promote bilateral cooperation between the Assam Rifles and
the ICG in the field of exchange of information/personnel, build-up camaraderie for training,
sports/adventure and sustainable development
1.155 China delivers first overhauled JF-17 fighter jet to Pakistan

• China has delivered its first overhauled JF-17 Thunder fighter jet to Pakistan
• This delivery has been done as part of a project undertaken by the two countries over a decade
ago for the development and manufacture of the aircraft

1.156 Pakistan successfully test-fires ballistic missile Shaheen-II
• Pakistan has successfully test-fired surface-to-surface ballistic missile Shaheen-II
• The missile is capable of hitting targets as far as 1,500 kilometers away
1.157 UNGA resolution demanding UK withdraw from Chagos Archipelago

• 116 nations including India have voted in favour of a UN General Assembly resolution
demanding UK to withdraw its “colonial administration” from the Chagos Archipelago
unconditionally within six months
• UK retained its sovereignty over the islands after Mauritius gained its independence from
Britain in 1968
1.158 WHO Unveils Plan To Tackle Global Snakebite "Emergency"
• World Health Organisation has unveiled a new strategy to dramatically cut deaths and injuries
from snakebites, warning a dearth of antivenoms could soon spark a "public health
emergency".
• According to WHO figures , Each year nearly three million people are bitten by poisonous
snakes, with an estimated 81,000-138,000 deaths. Another 400,000 survivors suffer
permanent disabilities and other after-effects
1.159 DRDO Successfully Flight-Tested Guided Bomb

• DRDO has successfully flight tested a 500 kg class Inertial Guided Bomb from Su-30 MKI
Aircraft from the Pokhran test range in Rajasthan
1.160 IAF’s AN-32 Aircraft formally Certified to Operate on Indigenous Bio-Jet Fuel
• The fleet of AN-32 transport aircraft of the Indian Air Force has been certified to fly on
blended aviation fuel containing up to 10 per cent bio-jet fuel.
• The approval for use of bio-fuel to fly the Russian made fleet was given by the Centre
for Military Airworthiness and Certification (CEMILAC)

1.161 ICAT Organized International Seminar on Noise, Vibration and Harshness
• International Centre for Automotive Technology (ICAT) has organized an international
seminar-cum-workshop on Automotive Noise, Vibration and Harshness (iNVH) in Manesar,
Gurgaon (from 23rd to 24th May 2019)
• ICAT is aiming to awareness and providing a platform for exchange of information to
professionals and academia, with the involvement of leading experts in the field
1.162 DRDO successfully test fires AKASH – MK -1S
• DRDO has successfully test fired AKASH-MK-1S missile from ITR , Chandipur, Odhisa
• AKASH Mk1S is a surface to air missile which can neutralize advanced aerial targets
1.163 Fastags can Now be Purchased Online through Amazon

• FASTag is a reloadable tag which enables automatic deduction of charges at toll plazas.
• The online NHAI FASTag shall be available for cars, jeeps and vans for now
• FASTags were launched by the Indian Highways Management Company Limited (IHMCL),
promoted by NHAI, in January 2019.
1.164 Admiral Sunil Lanba the Chief of The Naval Staff retires tomorrow 31 May 2019
• Vice Admiral Karambir Singh has been appointed as the next chief of naval staff, succeeding
Admiral Sunil Lanba
1.165 NASA unveils schedule for ‘Artemis’ 2024 Mission

• ARTEMIS stands for 'Acceleration, Reconnection, Turbulence, and Electrodynamics of the
Moon's Interaction with the Sun.'
• Artemis 1 will be an uncrewed mission around the Moon planned for 2020 and the program
includes eight scheduled launches and a mini-station in lunar orbit by 2024.
1.166 25th May : World Thyroid Day
• The year 2019 marks the commemoration of 11 years of Global Thyroid Awareness through
the celebration of this day
• The thyroid gland is a small butterfly-shaped gland that lies in the middle of the lower part
neck
• The primary function of this gland is to control the body's metabolic rate
1.167 Sahara – A Hostel for the Veer Naris
• Lt Governor of Delhi Shri Anil Baijal has inaugurated the Sahara Naval Hostel for the ‘Veer
Naris’ at Vasant Kunj, New Delhi
• The project initiated by the Indian Navy for ‘Naval Veer Naris’ has been built in Corporate
Social Responsibility (CSR) partnership with National Buildings Construction Corporation
(NBCC).
1.168 SpiceJet becomes fourth domestic airline to add 100th plane

• SpiceJet has announced the induction of a Boeing 737, taking its fleet size to 100 aircraft.
• SpiceJet is the fourth domestic airline to achieve the feat after national carrier Air India, Jet
Airways and IndiGo.

1.169 Guy Gunaratne wins Dylan Thomas prize for 'urgent' London novel
• Debut British-Sri-Lankan human rights novelist Guy Gunaratne has won the £30,000 Swansea
University International Dylan Thomas prize
• He has won this award for his book “In Our Mad and Furious City”, an account of life on a
London housing estate during city-wide riots
1.170 ISSF World Cup Rifle : Apurvi Chandela wins her second World Cup Gold medal
• Apurvi Chandela has won the 10m Air Rifle Women’s Final at the 2019 ISSF World Cup in
Munich , Germany
• Luyao Wang from the Republic of China won the Silver medal
1.171 Sudirman Cup 2019 Badminton Title : China beats Japan

• China’s Shi Yuqi claimed Sudirman Cup 2019 by defeating Kento Momota of Japan
• The 2019 edition of the cup has been hosted by China
1.172 Indian Army officer appointed the commander of UN Mission in South Sudan
• Lieutenant General Shailesh Tinaikar has been appointed as the new Force Commander of the
United Nations Mission in South Sudan (UNMISS)
• India is the fourth largest contributor of uniformed personnel to the UN peacekeeping
missions
1.173ICMR head Balram Bhargava wins Dr. Lee Jo ng-wook Prize for Public Health
• Director General of the Indian Council of Medical Research (ICMR) Professor Balram Bhargava
has won 2019 Dr Lee Jong-wook Memorial Prize for Public Health at the 72nd World Health
Assembly in Geneva.
• He bagged the award for his achievements as a clinician, innovator, researcher and trainer.
1.174 Russia launches its nuclear powered icebreaker Ural
• Russia has recently launched its nuclear-powered Arctic icebreaker named ‘Ural’ in St.
Petersburg
• It has been launched with aim of significantly boosting freight traffic along its Arctic coast
1.175 The IAF's tribute to Kargil war martyrs

• Indian Air Force (IAF) chief B.S. Dhanoa and Western Air Command chief Raghunath Nambiar
have flown together in a formation
• This has been done as a commemorative flight paying tribute to Kargil war martyr Squadron
Leader Ajay Ahuja.
• MP's Orchha makes it to tentative list of UNESCO World Heritage Sites
1.176 MP's Orchha makes it to tentative list of UNESCO World Heritage Sites
• Orchha town in Madhya Pradesh has been included in UNESCO's tentative list of world
heritage sites following a proposal sent by the ASI to the United Nations
• Orchha is situated on the banks of the Betwa river
• It is located around 80 km away from Tikamgarh district in Madhya Pradesh and 15 km from
Jhansi of Uttar Pradesh and is famous for its Chaturbhuj Temple, Orchha fort complex, Raja
Mahal among others.
1.177 May 28th : Veer Savarkar's birth anniversary

• Freedom Fighter Vinayak Damodar Savarkar's 136th birth anniversary has been observed on
May 28th
1.178 P.S. Golay sworn in as Sikkim Chief Minister
• Golay has been appointed as the sixth Chief Minister of Sikkim

• He has succeeded Pawan Chamling, who has the record of being the longest serving Chief
Minister of the country by winning five consecutive terms

1.179 BIMSTEC leaders invited to PM Modi’s oath-taking ceremony on May 30th, 2019
• The President of the Kyrgyz Republic and the Prime Minister of Mauritius have also been
invited
• Member states of Bay of Bengal Initiative for Multi-Sectoral Technical and Economic
Cooperation are Bangladesh, Myanmar, Sri Lanka, Thailand, Nepal, Bhutan and India
1.180 Nobel-winning physicist Murray Gell-Mann passed away

• Murray Gell-Mann, the Nobel Prize-winning physicist has died at the age of 89
• He had devised a method for sorting subatomic particles into simple groups of eight based
on electric charge, spin and other characteristics
• He also developed the theory that identified “quarks,” which are indivisible components of
Earth’s matter that make up protons, neutrons and other particles.
1.181 Sudirman Cup 2019 Badminton Title : China beats Japan

• China’s Shi Yuqi claimed Sudirman Cup 2019 by defeating Kento Momota of Japan
• The 2019 edition of the cup has been hosted by China
1.182 WHO recognises ‘burn-out’ as medical condition

• World Health Organization has for the first time recognised “burn-out” in its
International Classification of Diseases (ICD)
• WHO defines burn-out as “a syndrome conceptualised as resulting from chronic

workplace stress that has not been successfully managed”
• The ICD-11 is latest list which is to take effect from January 2022
1.183 Hindi version of Oscar Academy's publication 'Digital Dilemma' launched

• John Bailey, President of the Academy of Motion Picture Arts and Sciences has e-launched the
Hindi version of an Academy Publication, 'Digital Dilemma'
• Digital Dilemma is an Academy publication and discusses the challenges of efficiently
archiving and accessing massive data in the long term

1.184 Air Chief Marshal BS Dhanoa receives Baton of Chairman COSC
• Chief of the Air Staff Air Chief Marshal Birender Singh Dhanoa has received the baton of
Chairman, Chiefs of Staff Committee from outgoing Chairman COSC and Chief of the Naval
Staff Admiral Sunil Lanba
1.185 Annie Zaidi announced as Nine Dots Prize 2019 winner
• Mumbai-based Indian writer, Annie Zaidi has won the prestigious Nine Dots Prize for her
memoir 'Bread, Cement, Cactus'
• Nine dots is a prestigious book prize created to award innovative thinking that addresses
contemporary issues around the world
1.186 IIT Guwahati signs MoU with ISRO to set up space technology
• Indian Institute of Technology (IIT) Guwahati has signed an MoU with Indian Space Research
Organisation (ISRO) to set up an IITG-ISRO Space Technology Cell (STC) at the institute
1.187 'Hawa Aane De' song featuring Akshay Kumar released for Environment Day
• Environment Ministry has released a music video featuring Akshay Kumar and other
Bollywood actors , dedicated to the #BeatAirPollution campaign
1.188 29th May :International Day of UN Peacekeepers

• The day offers a chance to pay tribute to the uniformed and civilians’ personnel’s invaluable
contribution to the work of the United Nations
• Theme for the year 2019 : “Protecting Civilians, Protecting Peace”

1.189 29 May: International Everest Day observed
• Nepal has observed May 29 as 'International Everest Day'

• On this day , mountaineers Tenzing Norgay Sherpa and Edmund Hillary scaled the world's
highest peak with the height of 8,848 metres
1.190 ISRO, IAF ink pact for astronaut selection, training

• The Indian Air Force has signed a Memorandum of Understanding (MoU) with Indian Space
Research Organisation (ISRO) for the selection of astronaut and training for Gaganyaan
Programme
• Gaganyaan mission aims to take Indian astronauts to space in the year 2022
1.191 India’s only orangutan Binny dies in Odisha zoo
• India’s only orangutan, Binny has died at the Nandan Kanan Zoo in Odisha
• The 41-year-old orangutan has died of respiratory complications
• Orangutans are listed as “Critically Endangered” by International Union for Conservation of
Nature (IUCN).
1.192 New species of wasp identified in Goa

• A new species of wasp from the genus Kudakrumia has been recently identified by scientists
in Goa.
• Kudakrumia rangnekari has been named after Goa-based researcher Parag Rangnekar.
1.193 Rajasthan govt bans ads, sale of e-cigarettes

• The Rajasthan government has decided to ban production, distribution, advertisement and
sale of e-cigarette in the state
• An electronic cigarette is a battery-operated device that emits doses of vaporized nicotine, or
non-nicotine solutions, for the user to inhale
1.194Food delivery apps to have hygiene rating in Punjab

• The Punjab government has decided to make it mandatory for all online aggregators to
ensure that food supplied by them have hygiene rating as per the guidelines of Food Safety
and Standards Authority of India (FSSAI).

1.195 Lewis Hamilton wins Monaco Grand Prix
• Lewis Hamilton has won the Monaco Grand Prix by beating Valtteri Bottas
1.196 Indian Overseas Bank launches ‘Bank on Wheels’ facility

• ‘Bank on Wheels’ facility has been launched in 14 of its lead districts in Tamil Nadu and Kerala
• Bank on wheels is a mobile van facility that will enable the public, especially senior citizens,
conveniently get door-step banking facility available at identified locations of the lead
districts.
1.197 Akshay Kumar named TAFE’s brand ambassador

• Tractors and Farm Equipment Limited (TAFE) has announced a brand association with actor
Akshay Kumar for its Massey Ferguson tractors
• TAFE is the second largest manufactures in India by volumes
1.198 Puerto Williams, Chile is now world's southernmost city

• Puerto Williams in Chile has become the world’s southernmost city
• This come after it was upgraded to the category of “city” by the authorities of the country
from the earlier status of hamlet
1.199 Tribal Odisha woman becomes country's youngest MP

• 25-year-old engineering graduate Chandrani Murmu from Odisha has become the youngest
Member of Parliament to the 17th Lok Sabha
• Odisha has become the first state ever to have 33 percent or the largest share of women MPs
of its total of 21 seats.
1.200 Cyril Ramaphosa takes oath as South Africa’s President
• Cyril Ramaphosa has been sworn in as South Africa’s President for a term of five year
• He was appointed as Deputy President in May 2014
1.201 New vine snake discovered in Odisha biosphere reserve

• A group of researchers has discovered a tenth species of the vine snake of genus Ahaetulla ,
named as Ahaetulla laudankia
• A new vine snake has been discovered in Simlipal Biosphere Reserve , Odisha

2 GA + ESI in news
2.1 Iraq remains top oil supplier to India

[Balance of Payment]
• According to a recent data sourced from the Directorate General of Commercial Intelligence
and Statistics, Iraq has sold 46.61 million tonnes (mt) of crude oil to India during April 2018
and March 2019 which is 2% more than the oil it had supplied in 2017-18 fiscal
• With this , Iraq has become India’s top crude oil supplier for the second year in a row ,
meeting more than a fifth of the country’s oil needs in 2018-19 fiscal year
Background
• India has provisionally imported 207.3 mt of crude oil in 2018-19, down from 220.4 mt in the
previous financial year
• In 2018-19, Saudi Arabia has exported 40.33 mt of crude oil to India up from 36.16 mt of oil
sold in the previous year
• It has traditionally been India’s top oil source, but in the fiscal year 2017-18 fiscal year, it was
replaced for the first time by Iraq
• While India stopped importing crude oil from Iran following reimposition of economic
sanctions this month by the U.S., the Persian Gulf nation was the third largest crude oil supplier
to India
2.2 Government and IIT-Delhi to set up a Centre of Excellence for Waste to Wealth Technologies
[Environment and Sustainable Development]
• In order to commemorate the 150th birth anniversary of Mahatma Gandhi, The Office of the
Principal Scientific Adviser (PSA) to the Government of India and Indian Institute of
Technology Delhi (IIT Delhi) have come together to bring the best of science and technology
to implement waste management in India
• Under the initiative, a “waste to wealth programme management centre” will also be set up
at IIT Delhi for the implementation of sustainable, scientific and technological solutions for
waste management, through validation and deployment of available technologies for
transformation of waste to wealth
Its Relevance
• The overall outcomes of this initiative would involve :
1. treating waste and generating different forms of energy
2. making India a waste free nation
3. zero greenhouse gas emission from India and no health hazard
• The immediate objective is to :
implement technologies that are available with various national and international academias
, industries, research laboratories and other agencies by way of setting up pilot projects on-
site effectively and successfully and demonstrating the proof of concept of the technology
under Indian condition
• This will be carried out by creating a strong collaborating network between IIT Delhi, and
other national and international stakeholders through the aegis of the office of the PSA
• The partnership will provide an effective platform for stakeholders to bring together
integrated approaches for effective recycle, reuse and resource recovery of waste.
Background
• The waste to wealth mission project has been approved under the recently constituted Prime
Minister’s Science Technology and Innovation Advisory Council (PM-STIAC)
• It is an overarching body for assessment, creation and implementation of major scientific,
technology and innovation interventions for India
2.3 SC likely to post EPS 95 plea for final disposal in July

[Employment generation in India]
• The Supreme Court is likely to post for final disposal in early July a petition filed by retirees and
members of the Employees’ Pension Scheme (EPS), 1995
• The petition is against the government and the Employees Provident Fund Organization
(EPFO), which administers the scheme
• The petitioners have claimed that a 2014 amendment and a 2017 circular exclude thousands
from receiving their rightful benefits under EPS 95.
Background
• The EPFO’s August 28, 2014 amendment had raised the wage ceiling amount for the scheme
to ₹15,000 and amended the option for contribution on higher salary for existing employees,
introducing a cut-off date of September 1, 2014
• It had also reduced the pensionable salary considerably by averaging 60 months’ salary instead
of 12 months to determine the last drawn salary amount.
2.4 Manufacturing sector growth slows to eight-month low in April amid election uncertainty:
PMI
[Measurement of Growth]
• The Nikkei India Manufacturing Purchasing Managers’ Index has declined from 52.6 in March
to 51.8 in April 2019
• This drop reflects weakest improvement in business conditions since August 2018
• This is the 21st consecutive month that the manufacturing PMI remained above the 50-point
mark. A print above 50 means expansion, while a score below that denotes contraction.
About PMI
• The Purchasing Managers’ Index is based on monthly surveys of carefully selected companies
representing major and developing economies worldwide
• There are two parts to the monthly PMI releases: the headline PMI number, designed to
provide a snapshot of the health of the economy, and the sub-indices, or component-level
data
• The sub-indices provide insight into key economic drivers, such as inflation, exports,
employment and inventories.
• Each country PMI survey for the manufacturing or service sector is based on questionnaire
responses from panels of senior purchasing executives (or similar) at over 400 companies
• The survey panels are carefully recruited to accurately represent the true structure of that
sector.
2.5 Times Higher Education Asia University Rankings 2019

[Social sectors -Education]
• THE's Asia University Rankings for the year 2019 has been released , it ranks 100 Universities
• Tsinghua University of China has topped this ranking
Methodology of Ranking
• The ranking utilizes the same five broad parameters as used in the overall World University
Rankings although weightage is calibrated and adjusted
• Parameters and their weightage are :
1. teaching – 25%
2. research – 30%
3. citations – per cent
4. international outreach - 7.5%
5. industry income - 7.5
Ranking of Indian Institutes

• IIT Indore has been judged across all the above-mentioned performance indicators with an
overall score of 44.8, with individual scores of 29.8 in teaching, 25.1 in research, 86.5 in
citations, 18.2 in international outreach and 34 in industry income
• Indian Institute of Science (IISc) Bengaluru has maintained its lead position at 29th which is
same as last year
• IIT Bombay has fallen by 10 places with its ranking being 54 from 44 last year
2.6 Netherlands got $12.8-b Indian FDI in 2017, 2nd biggest after Singapore
• The Netherlands has emerged as the third largest foreign direct investor in India during 2017-
18, with investments of about $2.67 billion across sectors
• The Netherlands has also been the second largest destination for foreign investment by
Indian companies after Singapore, with investments worth $12.8 billion in 2017.
• During 2017-18, the bilateral trade topped $ 8.77 billion while the Indian exports to the
Netherlands grew at 14.7 per cent, imports were up by 18.2 per cent
• The Indian School of Business (ISB), Hyderabad, and the Netherlands Business Support Office
in Hyderabad have jointly organized the ‘Dutch-India Dialogue on Trade & Technology’ in

connection with the National Day celebrations of the Netherlands , which is celebrated on
27th April 2019
• The objective of the dialogue was to strengthen business partnership between India and the
Netherlands in the times of rapid technological changes
2.7 GRIHA Council launches rating system to evaluate environmental performance of schools
[Sustainable development and Environmental Issues]
• GRIHA Council has released a rating tool ‘GRIHA for Existing Day Schools’
• It will work as an integrated tool to evaluate performance and provide solutions for
enhanced energy and water efficiencies, increased thermal and visual comfort, and
decreased operational and maintenance costs
Its Relevance
• The rating familiarises the students with the concepts of sustainability by involving them,
under the guidance of their teachers, on evaluating the environmental impact of schools on
the environment.
• Through the rating process, students and teachers will get an opportunity to establish contact
with nature and with each other using the approach of co-creation and understanding
About GRIHA Council

• GRIHA is an acronym for Green Rating for Integrated Habitat Assessment and it is a rating tool
that helps people assesses the performance of their building against certain nationally
acceptable benchmarks
• It evaluates the environmental performance of a building holistically over its entire life cycle,
thereby providing a definitive standard for what constitutes a ‘green building’
• The rating system is based on accepted energy and environmental principles, will seek to strike
a balance between the established practices and emerging concepts, both national and
international.
• GRIHA Rating is developed by TERI and adopted by MNRE as the national rating system for
green buildings in India. GRIHA Ratings are independently implemented by GRIHA Council.

2.8 NGT seeks report on road construction for commercial vehicles in Rajaji Tiger Reserve
[Sustainable Development and Environmental Issues]
• The National Green Tribunal has constituted a committee to provide it a factual report on
alleged illegal construction of a road for use by commercial vehicles in the ecologically sensitive
Rajaji Tiger Reserve in Uttarakhand
• It includes representatives from various departments including wildlife and PWD
Background
• A petition had claimed that the Uttarakhand government on March 1, 2017 had opened the
Laldang-Chillarkhal road in the reserve for commercial vehicles , without considering the
negative impact on the biodiversity-rich stretch
• A bench headed by NGT Chairperson Justice Adarsh Kumar Goel had formed the committee
comprising representatives of the additional director general, Wildlife, Ministry of
Environment and Forests, Uttarakhand Public Works Department and National Tiger
Conservation Authority (NTCA).
• According to NGT ,it is necessary to seek a factual and action-taken report from the joint
committee before considering the matter further.
About NGT
• The National Green Tribunal has been established on 18.10.2010 under the National Green
Tribunal Act 2010
• It has been established for effective and expeditious disposal of cases relating to
environmental protection and conservation of forests and other natural resources including
enforcement of any legal right relating to environment and giving relief and compensation
for damages to persons and property and for matters connected therewith or incidental
thereto
• It is a specialized body equipped with the necessary expertise to handle environmental
disputes involving multi-disciplinary issues.
2.9 1 Million Animal And Plant Species Are At Risk Of Extinction : U.N. Report
• According to a recently released report by United Nations , Up to 1 million of the estimated

8 million plant and animal species on Earth are at risk of extinction — many of them within
decades
• The report has been released by the Intergovernmental Science-Policy Platform on
Biodiversity and Ecosystem Services — a panel with 132 member nations, including the
United States
• Nearly 150 authors from 50 nations worked for three years to compile this report
Findings of the Report

• 75% of land environment and some 66% of the marine environment have been significantly
altered by human actions.
• More than a third of the world's land surface and nearly 75% of freshwater resources are
used for crops or livestock
• Up to $577 billion in annual global crops are at risk from pollinator loss
• Between 100 million and 300 million people now face increased risk of floods and hurricanes
because of loss of coastal habitats and protection.
• Since 1992, the world's urban areas have more than doubled.
• Plastic pollution has increased tenfold since 1980, and from 300-400 million tons of heavy
metals, solvents, toxic sludge and other industrial waste are dumped into the world's water
systems
Some new terms in the report

• The report found patterns of "telecoupling," which is described as the phenomenon of
resources being extracted and made into goods in one part of the world "to satisfy the needs
of distant consumers in other regions."
• A newly coined phrase for insect declines called the 'windshield effect' — owing to the fact
that if you drove your car at dusk 30 years ago, you would need to clean the windshield
frequently, but that's no longer the case today
2.10 Exports of certain commodities to Maldives exempted from restrictions in 2019-20

[Export Import Policy of India]
• Exports of specified quantity of essential commodities to Maldives have been exempted from
any kind of domestic restrictions or prohibition in the current fiscal , according to the Director
General of Foreign trade
• Export of potatoes, onion, rice, wheat flour, sugar, dal and eggs has been permitted to
Maldives under bilateral trade agreement between India and Maldives during the period
2019-20 with effect from April

Details
• The fixed quantity for export of potatoes, onion, rice, wheat flour, sugar, dal and eggs are
15,492.36 MT (metric tonne), 25,744.26 MT, 89,454.22 MT, 78,612.26 MT, 46,444.74 MT,
161.65 MT and about 30.79 crore, respectively
• The specified quantity this fiscal is much more than that of 2018-19.
2.11 India gets re-elected as observer to Arctic Council

• India has been re-elected as an observer to the Arctic Council , India was first granted the
Observer status in 2013, along with five other nations
• The Observer status is granted to entities that support the objectives of the Arctic Council, and
have demonstrated capabilities in this regard, including the ability to make financial
contributions.
• The renewal of Observer status is just a formality as the status once granted continues till there
is a consensus among the members that the Observer was engaging in activities that run
counter to the objectives of the Arctic Council.
• The Observers are not part of the decision-making processes, but they are invited to attend
the meetings of the Council, especially at the level of the working groups.
About Arctic Council

• It was established by the eight Arctic States through the Ottawa Declaration of 1996
• The Council is only an intergovernmental ‘forum’ to promote cooperation in regulating the
activities in the Arctic region. It is much more an informal grouping and not a treaty-based
international legal entity like the UN bodies
• The states that have territories around Arctic are called arctic states , these are Russia, the
United States, Canada, Norway, Demark, Sweden, Iceland and Finland
• Besides these eight states , six organizations representing the indigenous people of the Arctic
region have also been granted the status of permanent participants. All decision-making
happens through consensus between the eight members, and in consultation with the
permanent participants.
India and its role in Arctic Council

• India is one of the very few countries to set up a permanent station in the Arctic for the
purposes of scientific research. It was started in July 2008

• This station is named “The Himadri research station” which is located in Ny Alesund, Svalbard
in Norway, about 1200 km south of the North Pole and is used to carry out a variety of
biological, glaciological and atmospheric and climate sciences research projects
• National Centre for Antarctic and Ocean Research (NCOAR) which is based in Goa is the nodal
organization coordinating the research activities at this station
2.12 World Bank forecasts India’s GDP growth at 7.5%

• According to the World Bank forecast, India’s GDP growth is expected to accelerate moderately
to 7.5% in fiscal year 19-20
• This growth is driven by continued investment strengthening, particularly private-improved
export performance and resilient consumption
• According to the World Bank, India's GDP growth is expected to accelerate moderately to 7.5
percent in FY19/20, driven by continued investment strengthening-particularly private-
improved export performance, and resilient consumption
• In its latest report on South Asia, World Bank had predicted the real GDP growth is estimated
at 7.2% in FY18/19
• Data for the first three quarters suggest that growth has been broad-based. Industrial growth
accelerated to 7.9%, making up for a deceleration in services and the Agri growth stood at 4%
Background
• India’s economic growth had slipped to a three year low of 5.7 per cent in April-June quarter
of the current fiscal, though it recovered in the subsequent quarters
• The economy is expected to grow at 6.6 per cent in the current fiscal ending March 31, as per
the second advanced estimates of the Central Statistics Office (CSO), compared to 7.1 per cent
in 2016-17
• The earlier estimate of CSO was 6.5 per cent
• The report has observed that headline inflation stood at 2.6 percent in February 2019, and the
average for FY18/19 has been 3.5 percent, that is well below the Reserve Bank of India’s target-
midpoint of four percent

2.13 Forex reserves up by $171.9 million to $418.7 billion
• According to the data released by RBI on 10th May 2019 , The foreign exchange reserves of India
have increased by USD 171.9 million to USD 418.687 billion in the week to May 3
• India’s forex kitty had touched a life-time high of USD 426.028 billion in the week to April 13,
2018.
• This rise has been accounted due to rise in foreign currency assets
• Foreign currency assets are expressed in US dollar terms and include the effect of
appreciation/depreciation of non-US currencies like the euro, pound and yen held in the
reserves
• In the previous week, the reserves had swelled by USD 4.368 billion to USD 418.515 billion
• This is due to the second dollar-rupee swap auction held on April 23rd, 2019
• Gold reserves have declined by USD 281.6 million to USD 23.021 billion, according to the data
• The special drawing rights with the International Monetary Fund rose by USD 1.6 million to
USD 1.451 billion
• The country’s reserve position with the IMF have also increased by USD 3.6 million to USD
3.344 billion
2.14 India signs protocol for export of chilli meal to Chinese markets
[Export Import Policy of India]
• A protocol has been signed between China and India to export Chilli meals to the markets of
China
• This is the eighth agricultural product since 2003 for which India and China have signed a
protocol for trade

Background
• India has imported $65.23 billion worth of goods from China between April 2018 and February
2019, while it has only exported $15.07 billion worth of goods to the country.
• India has been persistently pushing for market access for agricultural and processed food
products to China
• India’s firm stance on the issue has led China to commit to providing market access after a gap
of 13 years. In the year 2018 , China had allowed market access to three Indian food products —
mangoes, grapes and rice
What is Chilli Meal?

• Chilli meal is the residue left after the oil is extracted from chillies . It is widely used as an
industry input in the manufacturing of chilli sauce and other products.
Red chillies and India

• India is the world’s largest producer, consumer, and exporter of chilli
• According to the official statistics , red chillies are grown across India on 792,000 hectares of
land in Andhra Pradesh, Karnataka, Madhya Pradesh and Maharashtra.
• The crop is planted in August and September and harvested in March and April.
• Of the more than 1.3 mt of red chilli produced in India every year, 70 per cent are consumed
domestically, with the rest being exported.
• Dried chilli exports make up 22 per cent of all the spices exported from India
2.15 IIP at a 21-month low as manufacturing slows down

• The Index of Industrial Production (IIP) has dipped to a 21-month low in March 2019,
contracting 0.1% due in large part to a continuing slowdown in the manufacturing sector,
• The manufacturing sector has contracted by 0.43% in March, the second consecutive month of
contraction (it contracted 0.39% in February) and the third consecutive month of slowing
growth
• The growth of IIP was a robust 5.33% in the same month of last year, and 4.39% in March
2017.
Reasons
• One of the primary reasons for the slowdown in the overall economy is that the government
has very little room to manoeuvre on the fiscal side, even though the Reserve Bank of India
has done what it can on the monetary policy side with two successive interest rate cuts.
• As per the use-based classification, contraction in capital and intermediate goods (indicative of
subdued investment activity) further resulted in slowdown in the industrial output
2.16 US unveils The Global Health Security Strategy


• The US government has come up with a first of its kind strategy to prevent, detect and respond
to threats from infectious diseases occurring naturally or accidentally
• This has been brought by US in an effort to help improve the world's ability to stop and contain
deadly outbreaks before they spread between countries.
• The Global Health Security Strategy defines the actions the administration will take by adopting
a whole-of-government approach to health security and leveraging the strengths of different
federal departments, agencies and funding streams
Its Relevance
• The strategy outlines a coordinated US approach that focuses on three interrelated goals:
1. strengthen partner country global health security capacities
2. increase international support for global health security
3. a homeland prepared and resilient against global health threats
• Under the new Strategy, the country will work to ensure that every partner country has a plan
to achieve self-reliance in the critical area of health security.
• Under the new strategy, the Centre for Disease Control (CDC) will increase its ability to monitor
threats globally from headquarters and provide rapid response through deployment of staff
across the agency
2.17 180 nations agree on a new UN accord to curb export of plastic waste
• Around 180 governments have agreed on a new UN accord to regulate the export of plastic
waste to quickly reduce amount of plastic being washed into world's oceans
• The Geneva meeting has amended the 1989 Basel Convention on the control of hazardous
wastes to include plastic waste in a legally-binding framework.
• Except the United States, about 180 governments have agreed to the deal
Background
• Conference of Plenipotentiaries (CoP) in Basel, Switzerland adopted The Basel Convention on
the Control of Transboundary Movements of Hazardous Wastes and their Disposal
• It was adopted in response to large public outcry after it was discovered that large deposits of
toxic wastes were being imported from abroad into developing world
• The Basel Convention came into force in 1992
• In 1989, plastic waste hadn’t been included within the Basel Convention as “hazardous
waste”.

2.18 WTO Ministerial Meeting of Developing Countries in New Delhi
[Globalization - WTO]
• India has convened a WTO (World Trade Organization) ministerial meeting of 16 developing and
six least developed countries starting on May 13th -14th 2019
• Participating developing countries include Argentina, Bangladesh, Barbados, Brazil, Chad,
China, Egypt, Indonesia, Kazakhstan, Malaysia, Nigeria, Oman, Saudi Arabia, South Africa and
Turkey
• Six Least Developed Countries (LDC) are Benin, Bangladesh, Central African Republic (CAR),
Chad, Uganda, Malawi
• The meeting is being held at a time when the multilateral rule-based trading system is facing
serious and grave challenges
Relevance of the meeting
• The two-day meeting also provides an opportunity to the developing countries and LDCs to
build consensus on how to move forward on the WTO reforms, while preserving the
fundamentals of the multilateral trading system enshrined in the WTO
• The deliberations will aim at getting a direction on how to constructively engage on various
issues in the WTO, both institutional and negotiating, in the run up to the Twelfth Ministerial
Conference of the WTO to be held in Kazakhstan in June 2020.
Background
• In the recent past, there have been increasing unilateral measures and counter measures by
members, deadlock in key areas of negotiations and the impasse in the appellate body, which
threaten the very existence of dispute settlement mechanism of the WTO and impacts the
position of the WTO as an effective multilateral organization
2.19 Asian economies set to dominate 7% growth club during 2020s

• According to a recent research report by Standard Chartered , India, Bangladesh, Vietnam,

Myanmar and the Philippines are expected to sustain growth rates of around 7%
• Ethiopia and Côte d’Ivoire are also likely to reach the 7% growth pace, which typically means
a doubling of gross domestic product every 10 years

• China has marked its absence from the latest ranking after being a member of the club for
almost four decades - reflecting both a slowdown in economic growth and a progression
toward higher per-capita incomes that makes faster growth rates more difficult to sustain
2.20 India to co-chair Consultative Group (CG) of Global Facility for Disaster Reduction and
Recovery (GFDRR)
• India has been unanimously chosen as co-chair of the Consultative Group (CG) of Global Facility
for Disaster Reduction and Recovery (GFDRR) for the fiscal year 2020.
• The decision was taken during the CG meeting of GFDRR held in Geneva, Switzerland on May
14th, 2019.
• GFDRR in cooperation with the UNDRR and the EU is also organizing the 4th edition of World
Reconstruction Conference (WRC) on May 13-14, 2019.
Its Relevance
• The Consultative Group (CG) is GFDRR’s primary decision-making and advisory body
• It consists of members and observers and is responsible for setting the GFDRR’s long-term
strategic objectives and overseeing the expected results

• The Consultative Group has a Chair, who is a representative of the World Bank Group, and a
Co-chair, who is a Member of the CG
• India became member of CG of GFDRR in 2015 and expressed its interest to co-chair in last
meeting of CG held in October 2018
• This will give India an opportunity to work with the member countries and organizations of
GFDRR with a focused contribution towards advancing the disaster risk reduction agenda during
the course of the year
• This is the first time that the country has been afforded the opportunity of co-chairing the CG
meeting of GFDRR
• Disaster Resilient Infrastructure (DRI) will be a central theme of engagement with the GFDRR
partners and stakeholders.
About GDFRR
• GFDRR is a global partnership that helps developing countries better understand and reduce
their vulnerability to natural hazards and climate change
• GFDRR is a grant-funding mechanism, managed by the World Bank, that supports disaster risk
management projects worldwide
• It is presently working on the ground with over 400 local, national, regional, and international
partners and provides knowledge, funding, and technical assistance
2.21 CPI inflation quickens to six-month high of 2.92% on food, fuel prices
• According to the data released from the Central Statistics Office (CSO), retail inflation for the
month of January has increased to a six month high of 2.92% which is measured by CPI
• This has been primarily due to increase in food prices including vegetables, meat, fish and eggs.
Core Inflation
• Core inflation has eased to a 21-month low of 4.55% in April from 5.01% in March 2019
• Core inflation measures inflation apart from temporary shocks and volatility and is measured
using the CPI by excluding food and fuel components as their prices are highly volatile
What is CPI?
• CPI measures changes in the price level of a market basket of consumer goods and services
purchased by households
• The CPI is a statistical estimate constructed using the prices of a sample of representative items
whose prices are collected periodically.
• The annual percentage change in a CPI is used as a measure of inflation. Recently, base year of
the Consumer Price Index (CPI) has been revised from 2010 to 2012.
• RBI has adopted CPI as the key measure for determining inflation situation of Indian economy
on the recommendation of the committee under Urjit Patel

2.22 7th Economic Census to begin next month
• The statistics ministry has decided to use mobile phone application for conducting 7th economic
census which is going to begin in the month of June 2019
• Usage of apps will speed up the process of data collection and analysis
• The ministry is also going to introduce geo-tagging that will help to find out the distribution of
economic activity in a certain place
Relevance of the census
• The census will provide insights of all economic activities and ownership patterns of businesses
across the country
• The Ministry of Statistics and Programme Implementation (MoSPI) has partnered with CSC e-
Governance services India Ltd (CSC SPV) to conduct the census
• The CSC run common services centres (CSC) are the access points for delivery of essential
public utility services, social welfare schemes, healthcare, financial, education and agriculture
services, apart from host of B2C (business to consumers) services to citizens in urban, rural
and remote areas of the country
Background
• Six Economic Censuses (EC) have been conducted till date.

• The first Economic Census was undertaken in 1977. The Second EC was carried out in 1980
followed by the Third EC in 1990.
• The fourth edition took place in 1998 while the fifth EC was held in 2005. The Sixth edition of
Economic Census was conducted in 2013.
2.23 ISRO Director K Sivan inaugurates Young Scientist Programme

[Social sectors in India : Education]
• Indian Space Research Organisation (ISRO) Director K Sivan has inaugurated the Young Scientist
Programme (YUVIKA) i.e Yuva Vigyani Karyakram
• The YUVIKA (or ‘YUva VIgyani KAryakram’) 2019, is a two week (14 days) summer vacation
residential training programme, which will be conducted by ISRO from 13 May to 26 May 2019
• It was launched by ISRO in tune with the Centre governments vision of “Jai Vigyan, Jai
Anusandhan”
About the Programme
• The programme is aimed at imparting basic knowledge of science and space technology to
school-going students from different states and Union Territories (UT) of the country in order
to arouse their interest in space related activities
• Every state and UT has been asked to select students from government as well as private
schools

• A total of 110 students are participating in the programme spread over two weeks this year.
• The participants will be attending a residential training programme at four ISRO centres :
1. Vikram Sarabhai Space Centre (VSSC), Thiruvananthapuram
2. U R Rao Satellite Centre (URSC), Bengaluru
3. Space Applications Centre (SAC), Ahmedabad
4. North Eastern Space Applications Centre (NESAC), Shillong
2.24 India finds OECD index for services trade faulty

[Regional Economic Cooperation]
• India has found problems with the current method under which the Organisation for
Economic Cooperation and Development (OECD) ranks countries based on their services
trade policies
• India has indicated that outcomes of the Index are biased and counter-intuitive
Services Trade Restrictiveness Index

• It was first launched by OECD in 2014
• It is computed by the OECD and is now available for 2018 for a total of 45 economies (36
OECD and the rest non-OECD) and 22 sectors.
Problems in the Index

• According to a study commissioned by Commerce Ministry of India , The OECD index has a
large number of problems associated with it including some significant design issues that
render it impractical for use
• Ministry has said that India’s foreign entry restrictions are being classified as being the most
restrictive while the foreign investment in India has liberalized since 1991
• The report of the Ministry says that there are both theoretical and empirical inconsistencies
in the OECD methodology
About OECD
• The Organization for Economic Cooperation and Development (OECD) is a unique forum where
the governments of 34 democracies with market economies work with each other, as well as
with more than 70 non-member economies to promote economic growth, prosperity, and
sustainable development.
• It is an international organisation that works to shape policies that foster prosperity, equality,
opportunity and well-being for all
Key Partners of OECD

• The OECD works closely with Key Partner countries, which include some of the world’s largest
economies: Brazil, China, India, Indonesia, and South Africa
• They participate in the OECD’s daily work, bringing useful perspectives and increasing the
relevance of policy debates
• Key partners participate in policy discussions in OECD Committees, take part in regular OECD
surveys and are included in statistical databases
2.25 UNDRR confers Additional Principal Secretary to Prime Minister with the prestigious
Sasakawa Award 2019
• United Nations Office for Disaster Risk Reduction (UNDRR) has conferred “Sasakawa Award
2019” for Disaster Risk Reduction to Dr. Pramod Kumar Mishra, Additional Principal
Secretary to Prime Minister of India.
• The award was announced at the 6th Session of Global Platform for Disaster Risk Reduction
(GPDRR) 2019 at Geneva.
• Dr. Mishra from India received this award in recognition of his long-term dedication to
improve the resilience of communities most exposed to disasters and his personal
commitment to social inclusion as a critical principle to reduce inequality and poverty,
enhancing the safety net of the socially and economically marginalized.
About the award

• The United Nations Sasakawa Award is the most prestigious international award in the area
of Disaster Risk Management
• It was instituted more than 30 years ago and is jointly organized by the UNDRR and the Nippon
Foundation
• The theme of the 2019 Sasakawa award was “Building Inclusive and Resilient Societies”.
2.26 Global Drug Survey: Indians lead world in seeking help to reduce drugs intake
[Social sector – Health]
• Global Drug Survey for 2019 has been released recently , it included respondents for the first
time from India
• The survey has found that Indians — more than from other nationalities — are seeking help to
reduce their alcohol intake

Findings of the Survey
• According to the survey , Alcohol, tobacco and cannabis are the most common stimulants used
by Indians
• Of the nearly 1,00,000 respondents from 30 countries, Indians reported ‘being drunk’ on an
average of 41 times in the last 12 months — behind the U.K., the U.S., Canada, Australia and
Denmark in that order but well above the global average of 33 times.
• According to the 2019 GDS, 51% of the respondents wanted to ‘drink less’ in the following
year and 41% ‘wanted help to do so’ — again the highest percentage among other countries.
About the Survey

• The Global Drug Survey (GDS) is an online survey that uses a detailed questionnaire to assess
trends in drug use
• It uses self-reported harms among regular drug users and early adopters of new trends
• Though the survey is not designed to determine the prevalence of drug behaviour in a
population, it throws light on “stigmatised behaviours and health outcomes of a hidden
population that is otherwise difficult to reach
2.27 ‘Not all animals migrate by choice’ campaign launched to raise awareness on illegal wildlife
trade
• UN Environment India and Wildlife Crime Control Bureau (WCCB) of India has launched an
awareness campaign ‘Not all animals migrate by choice’ to be displayed at major airports
across the country.
• UN Environment Goodwill Ambassador and recently appointed Secretary-General’s SDG
Advocate from India, Dia Mirza has inaugurated the campaign in presence of officials from
the Ministry of Environment, Forest and Climate Change, Wildlife Crime Control Bureau of
India, UN Environment, UN agencies and GMR Group.
More about the Campaign

• It has been launched by Wildlife Crime Control Bureau of India and UN Environment which is
aimed at airports across India.
• Tiger, Pangolin, Star Tortoise and Tokay Gecko have featured in the campaign.
• The campaign aims at creating awareness and garnering public support for the protection and
conservation of wildlife, prevention of smuggling and reduction in demand for wildlife
products

• The campaign also complements worldwide action on illegal trade in wildlife through UN
Environment’s global campaign, Wild for Life
About Wildlife Control Bureau

• Wildlife Crime Control Bureau is a statutory multi-disciplinary body established by the
Government of India under the Ministry of Environment and Forests, to combat organized
wildlife crime in the country.
• Under Section 38 (Z) of the Wildlife (Protection) Act, 1972, it is mandated to collect and collate
intelligence related to organized wildlife crime activities and to disseminate the same to State
and other enforcement agencies for immediate action so as to apprehend the criminals
2.28 22 May: International Day for Biological Diversity observed
• May 22 is observed as International Day for Biological Diversity (IDB) by The United Nations
to increase understanding and awareness of biodiversity issues
• Theme for IBD 2019 was "Our Biodiversity, Our Food, Our Health"
• On 20th December 2000, UNGA adopted its resolution 55/201 and proclaimed 22 May as IDB,
to commemorate adoption of text of the Convention by Nairobi Final Act of ‘Conference for
Adoption of Agreed Text of Convention on Biological Diversity’ on 22 May 1992
2.29 India's Forex reserves up by $1.3 billion to over $420 billion

[Balance of Payment , Forex]
• According to a recent data released by RBI , India's foreign exchange reserves have increased
by $1.368 billion till May 10, 2019 i.e forex reserves have risen to $420.055 billion from
$418.687 billion
• On a weekly basis, Foreign Currency Assets , the largest component of the forex reserves have
edged higher by $1.358 billion to $392.227 billion.
• The data also shows that the value of the country's gold reserves was stagnant at $23.021
billion
• However, the SDR value inched higher by $3 million to $1.454 billion
• India’s reserve position with the IMF inched up by $7 million to $3.351 billion.

Forex reserves of India
• India's forex reserves comprise Foreign Currency Assets (FCAs), gold reserves, Special
Drawing Rights (SDRs) and India's reserve position with the International Monetary Fund
(IMF).
• The world's largest current foreign exchange reserve holder is China, it holds more than $3
trillion of its assets in a foreign currency with most of their reserves held in the U.S. dollar.
2.30 Gold imports rise 54% to $3.97 billion in April

• According to a recent data by Commerce Ministry , Gold imports have increased 54 per cent
to USD 3.97 billion in April 2019,
• Imports of the precious metal stood at USD 2.58 billion in April 2018
• Increase in gold imports have pushed the country's trade deficit to a five-month high of USD
15.33 billion in April
Background
• The country's current account deficit (CAD) has widened to 2.5 per cent of GDP in the third
quarter of the last financial year from 2.1 per cent a year ago, primarily on account of a higher
trade deficit
• CAD is the difference between outflow and inflow of foreign exchange.
• India is the largest importer of gold, which mainly caters to the demand of the jewellery
industry and in the terms of volume , India imports 800-900 tonnes of gold annually.
2.31 WTO quarterly trade growth indicator remains at nine-year low

[Globalization : WTO]
• The World Trade Organization's quarterly outlook indicator has shown that global goods
trade growth was likely to remain weak, with a reading of 96.3
• The growth has remained unchanged from February, the lowest since 2010.
• According to WTO , the outlook for trade could worsen further if heightened trade tensions
are not resolved or if macroeconomic policy fails to adjust to changing circumstances
• In the month of April , the WTO had last month cut the global trade growth forecast to 2.6%
in 2019 from 3% in 2018 on account of rising trade tensions and increased economic
uncertainty

2.32 2019 Meetings of the COPs to the Basel, Rotterdam and Stockholm Conventions
• The fourteenth meeting of the Conference of the Parties to the Basel Convention (BC COP-
14), the ninth meeting of the Conference of the Parties to the Rotterdam Convention (RC
COP-9) and the ninth meeting of the Conference of the Parties to the Stockholm Convention
(SC COP-9) has taken place from 29 April to 10 May 2019 in Geneva, Switzerland.
• The meetings included joint sessions covering matters of relevance to at least two conventions
and separate sessions of the meetings of the each of the three COPs. The meetings will not
feature a high-level segment.
• The theme of the meetings will be "Clean Planet, Healthy People: Sound Management of
Chemicals and Waste"
Basel Convention
• The Basel Convention on the Control of Transboundary Movements of Hazardous Wastes and
their Disposal was adopted on 22 March 1989 by the Conference of Plenipotentiaries
in Basel, Switzerland
• The overarching objective of the Basel Convention is to protect human health and the
environment against the adverse effects of hazardous wastes
• Its scope of application covers a wide range of wastes defined as “hazardous wastes” based
on their origin and/or composition and their characteristics, as well as two types of wastes
defined as “other wastes” - household waste and incinerator ash.
Rotterdam Convention
• The text of the Rotterdam Convention was adopted on 10 September 1998 by a Conference
of Plenipotentiaries in Rotterdam, the Netherlands. The Convention entered into force on 24
February 2004.
• Its objective is to promote shared responsibility and cooperative efforts among Parties in the
international trade of certain hazardous chemicals in order to protect human health and the
environment from potential harm
• It aims to contribute to the environmentally sound use of those hazardous chemicals, by
facilitating information exchange about their characteristics, by providing for a national
decision-making process on their import and export and by disseminating these decisions to
Parties.
Stockholm Convention

• The Stockholm Convention on Persistent Organic Pollutants was adopted by the Conference
of Plenipotentiaries on 22 May 2001 in Stockholm, Sweden.
• The Convention entered into force on 17 May 2004.
• It is a global treaty to protect human health and the environment from chemicals that remain
intact in the environment for long periods, become widely distributed geographically,
accumulate in the fatty tissue of humans and wildlife, and have harmful impacts on human
health or on the environment.
2.33 SC: Foreigner tribunal decision will succeed over NRC

[Urbanization and Migration]
• The Supreme Court has recently ordered that an Assam Foreigners Tribunal's decision on
illegal foreigners will be binding and that it will succeed the state government decision on the
inclusion or exclusion of a person in the National Register of Citizens (NRC) in Assam.
• SC Justice has said that the principle of 'res-judicata' (a judicially decided issue cannot be re-
agitated) would apply on the decision of foreigners’ tribunal and a person who has been
declared an illegal immigrant cannot seek re-decision in normal circumstances
• This means that the decision of the foreigners' tribunal, a judicial body, will prevail over NRC
decisions
What is the NRC?

• The National Register of Citizens (NRC) is the list of Indian citizens of Assam. It was prepared
in 1951, following the census of 1951
• The process of NRC update was taken up in Assam as per a Supreme Court order in 2013
• In order to wean out cases of illegal migration from Bangladesh and other adjoining areas,
NRC updation was carried out under The Citizenship Act, 1955, and according to rules framed
in the Assam Accord.
Foreigners Tribunal in Assam

• There are 100 numbers of Foreigners Tribunal functioning in Assam
• Judges/Advocates have been appointed as the members of FT under the Foreigners Tribunal
Act, 1941 and Foreigners Tribunal ORDER 1964
2.34 Competition Commission of India (CCI) celebrates its 10th Annual Day on 20th May 2019
[Indian political system]
• The Competition Commission of India (CCI) has celebrated its 10th Annual Day on 20th May
2019

• The day marks the notification of the substantive enforcement provisions of the Competition
Act, 2002
More about Competition Commission of India

• Competition Commission of India was established by the Central Government in 2003 under
the Competition Act, 2002
• The Act prohibits anti-competitive agreements, abuse of dominant position by enterprises and
regulates combinations (acquisition, acquiring of control and M&A), which causes or likely to
cause an appreciable adverse effect on competition within India
• CCI consists of a Chairperson and 6 Members appointed by the Central Government
• Commission’s duty is to eliminate practices having adverse effect on competition, promote
and sustain competition, protect the interests of consumers and ensure freedom of trade in
the markets of India
• The Commission is also required to give opinion on competition issues on a reference received
from a statutory authority established under any law and to undertake competition advocacy,
create public awareness and impart training on competition issues.
2.35 High level committee recommends strategy to reduce crude oil imports
[Export Import Policy]
• The High-Level Committee (HLC) constituted by the Government of India to examine the issues
relating to preparation of action plan to create synergy among R&D Centres of Oil & Gas
PSUs , tax issues and ways to benefit from GST by the Oil & Gas PSUs has submitted its report
• The report has been submitted to the Minister of Petroleum & Natural Gas and Skill
Development & Entrepreneurship
• The HLC consisted of Dr. Anil Kakodkar, eminent Scientist and Shri Sidharth Pradhan, an
expert on financial and tax issues
Recommendations of the committee

• The Committee has recommended short term, medium term and long term strategies in the
report, clearly bringing out the strategy to reduce the import dependency of the nation
• The committee also looked into merger, acquisition and consolidation of Oil & Gas PSUs and
the Joint Ventures
• It has explored the need and possibility of formation of new entity dealing with oil services and
supply of qualified manpower to Oil & Gas sector around the world
Background
• During 2018, India consumed 204.92 MMT petroleum products and 58.64 BCM natural gas
• It is important to note that the domestic production of crude oil and natural gas has almost
stagnated
• The import dependency of crude oil and LNG during the year was 82.59% and 45.89%
respectively which is likely to increase in days to come
2.36 Meghalaya govt approves setting up of Farmers' Commission

[Indian political system]
• The Meghalaya government has approved the setting up of a commission to look into the
problem faced by farmers.
• State cabinet has approved the proposal made by the Agriculture Department to set up the
Farmers' Commission in line with the resolution passed at the 'farmers' parliament
• The 'farmers' parliament' was organized in Meghalya in December 2018 and was attended by
scientists, bureaucrats, apart from farmers, to discuss issues related to the agri situation in
the state.
2.37 Department of Biotechnology (DBT) and Department of Atomic Energy (DAE) sign MoU for
cancer research
[Social sector - Health]
• The Department of Biotechnology (DBT) under the Ministry Science and Technology and the
Department of Atomic Energy (DAE) has signed an MOU for supporting joint collaborative
research programmes in the area of Cancer
• The DAE has been represented by its Tata Memorial Centre, which also functions as
coordinating centre on behalf of The National Cancer Grid of India
Its Relevance

• MoU shall help strengthen various initiatives mandatorily for cancer by:
1. Strategizing and prioritizing cancer research
2. Developing new and affordable technologies
3. Jointly designing and funding clinical trials
4. Coordinating and collaborating for translational research, interventions, training of
manpower and infrastructure development
About National Cancer Grid of India

• The National Cancer Grid (NCG) was established in August 2012 with the mandate of linking
cancer centers across India
• It now includes 52 major cancer centers virtually covering the entire country and is amongst
the largest cancer networks in the world
• It is funded by the Government of India through the Department of Atomic Energy and has the
primary mandate of working towards uniform standards of care across India by adopting
evidence-based management guidelines, which are implementable across these centers
2.38 HDFC Capital launches 'HeART'to mentor real estate technology companies
[Urbanization]
• HDFC Capital Advisors, a wholly-owned subsidiary of HDFC Ltd, launched a new initiative called
'HDFC Affordable Real Estate and Technology Program (HeART)
• The aim of the initiative is to mentor, partner and invest in real estate technology companies
that drive innovation and efficiencies within the affordable housing ecosystem
• it will provide a platform to real estate technology companies with innovative products aimed
at creating efficiencies and lowering costs in each part of the development cycle of real estate
projects.
About HDFC Capital Advisers
• HDFC Capital Advisors Ltd, the largest real estate private equity fund in India focused on
affordable and mid-income residential housing, has invested over USD 1 billion on the past 24
months with marquee developers across India in the affordable and mid-income housing
space.

2.39 Meeting of Council of Foreign Ministers of SCO, Bishkek, 21-22 May 2019
[Regional Economic Cooperation]
• External Affairs Minister Smt. Sushma Swaraj has attended the meeting of Council of Foreign
Ministers (CFM) of Shanghai Cooperation Organization in Bishkek (Kyrgyz Republic) from 21-
22 May 2019.
• The next SCO Summit will be held in Bishkek on 13-14 June 2019.
• This is the second CFM meeting that India has attended as a full member of SCO after the first
one in Beijing (China) on 23-24 April 2018.
Shanghai Cooperation Organisation (SCO)

• Shanghai Cooperation Organisation (SCO) is a Eurasian political, economic and military
organisation, which was founded in Shanghai by the leaders of China, Russia, Kazakhstan,
Kyrgyzstan, and Tajikistan in the year 2001.
• The aim of SCO is to establish cooperation between member nations on:
a) Security-related concerns
b) Resolving border issues
c) Military cooperation
d) Intelligence sharing
e) Countering terrorism
f) Countering American influence in Central Asia
Members of Shanghai Cooperation Organisation

• Apart from the founding members (listed above), Uzbekistan joined the group later as a
permanent member.
• India and Pakistan are the newest inclusion to the Organisation, and it added another 1.45
billion people in the SCO making the group cover around 40 per cent of the global population.
• Both these nations signed the memoranda for becoming a permanent member of the
Shanghai Cooperation Organisation in 2016.
• The eight permanent members of the SCO are: China , Kazakhstan , Kyrgyzstan , Russia ,
Tajikistan , Uzbekistan , India , Pakistan
2.40 Maharashtra promulgates ordinance for SEBC quota in medical education

[Social Sector - Education]
• Maharashtra Governor C.V. Rao has signed an ordinance to provide benefit of reservations in
admissions to social and educationally backward classes in medical and dental undergraduate
and post-graduate courses
• The Maharashtra State Reservation for Socially and Educationally Backward Classes (SEBC)
(Amendment and Validation) Ordinance, 2019, has been followed by a recommendation of
Maharashtra government
• Now there will be reservations in favour of candidates belonging to SEBCs for the current
academic year, 2019-2020, and also for admissions to other educational courses including
undergraduate courses requiring the passing of NEET or any other national entrance test
Background

• The PG medical courses had started on May 2 2019 , but on May 5, the students were informed
that their admissions were cancelled
• They had secured admissions on the basis of the Maratha quota (SEBC) while cancelling their
seats won through the All India Quota, but the SEBC quota has been declared invalid for the
current year
• The worst case for students was all other options of seeking admissions, like entrance exams,
have already closed, and the students stand to lose their academic year
2.41 India projected to grow at 7.1% in FY20: UN Report

• India's economy is projected to grow at 7.1 per cent in fiscal year 2020 according to a report by
the United Nations called as World Economic Situation and Prospects (WESP) 2019 Mid-year
Update
• According to the report , this growth is expected in India on the back of strong domestic
consumption and investment, but the GDP growth is a downward revision
• Strong domestic consumption and investment will continue to support growth, which is
projected at 7.0 per cent in 2019 and 7.1 per cent in 2020
Details of the Report

• The estimates for India reflect a downward revision from the projections made in the World
Economic Situation and Prospects 2019 report
• That report had estimated that India would grow at 7.6 per cent in fiscal year 2019 and 7.4 per
cent in 2020. It must be noted that despite the downward revisions, India remains the fastest
growing major economy in the world, ahead of China.
• The WESP mid-year update noted that growth projections for 2019 have been revised
downward in all major developed economies.
• The growth outlook for many developing economies has also weakened, it said, adding that
despite downward revisions, growth in India remains "strong" amid robust domestic demand.
• The report added that India’s exports remain more robust, as around half of exports are
destined for faster-growing Asian markets, while geopolitical risks continue to confront
Afghanistan and Iran.

2.42 India generated record number of jobs in January 2019 : EPFO data
• According to data released by the Central Statistics Office (CSO) , around 1.37 crore jobs were
created in the formal sector during the financial year 2018-19
• The CSO has used addition to the Employees' Provident Fund (EPF) subscriber base to derive
employment generation in the formal sector. As per the latest data, in the month of March 2019,
around 8.27 lakh EPF subscribers were added
• During the last fiscal, highest subscription to the pension fund was recorded in July 2018 at
around 14.21 lakh.
Details of the data
• According to the data , around 76.48 lakh new subscribers were added to social security
schemes of the Employees' Provident Fund Organisation (EPFO) from September 2017 to
January 2019. This indicates that these many jobs were created in the formal sector over the
past 17 months.
• The net EPFO enrolment in January 2019 stood at 8,96,516, which is the highest since
September 2017.
• The EPFO has revised slightly downwards its payroll data for December 2018 by 1.8 per cent to
7.03 lakh, against the earlier estimate of 7.16 lakh released that was released in March 2019
• During January 2019, the highest number of 2.44 lakh jobs were created in the 22-25 years age
group, followed by 2.24 lakh in the 18-21 years age bracket.
• The data of the exited members is based on the claims submitted by the individuals and
establishments and the exit data uploaded by employers, whereas the number of new
subscribers is based on the Universal Account Number (UAN) generated in the system and those
who have received non-zero subscription.
• This is age-band wise data of new members registered under the EPFO where the first non-zero
contribution received during particular month
• For each age-wise band, the estimates are net of the members newly enrolled, exited and
rejoined during the month as per records of the EPFO
2.43 IRDAI proposed insurance sandbox to give a leg up to customer experience


• The Insurance Regulatory and Development Authority of India (IRDAI) on 18 May has come
out with draft regulations for the creation of a regulatory sandbox to allow a conducive
environment for insurtech and fintech companies to carry innovation in the insurance space
• The draft has been placed for public and stakeholder comments till 31 May.
• The draft highlights four areas— distribution, products, underwriting and claims—where
sandbox can bring in innovation in terms of customization and new developments.
What is the proposal?

• According to IRDAI draft , an innovation sandbox will strike a balance between the sector’s
development and protection of the interests of policyholders
• The draft says that if required , it will also relax one or more provisions of the existing
regulations to facilitate the creation of the sandbox environment.
• Sandbox propositions may not fall under the scope of the existing regulations and some
existing regulatory provisions may need to be relaxed. However, the maximum period for
which the relaxation is granted will not exceed one year
• The processes include categories of application such as insurance solicitation and distribution,
insurance products, underwriting, policy and claims servicing, and details of filing an
application
• It also lays down the conditions for granting permission to participate in the sandbox, period
of permission (six months), conditions for revocation of permission, the extension of period
of permission (another six months), internal monitoring, review and evaluation of systems
and controls, review of policy approval by IRDAI and conclusion of the proposal.
Who can apply?

• The applicant can be an insurance company, agent, broker or even an individual and must
have a minimum net worth of ₹10 lakh and should have a standing of at least a year. Further
changes may be expected based on the feedback.
• A regulatory sandbox will pave the way for quicker adoption of technological developments
and enhance customer experience
2.44 FDI inflows record 1st decline in six years in FY19

[Export Import Policy]
• According to the latest data of the Department for Promotion of Industry and Internal Trade
(DPIIT), Foreign direct investment (FDI) in 2017-18 was a record $44.85 billion.
• FDI in India has declined for the first time in the last six years in 2018-19, falling by 1% to
$44.37 billion as overseas fund inflows subsided in telecom, pharma and other sectors

• Last time it was in 2012-13 when foreign inflows had registered a contraction of 36% to
$22.42 billion compared to $35.12 billion in 2011-12.
• Since 2012-13, the inflows had been continuously growing and reached a record high in 2017-
18.
• According to the data, FDI inflows in telecommunication, construction development,
pharmaceuticals and power sectors declined significantly in 2018-19.
Inflow of FDI
• Sectors that have recorded a growth in FDI includes :
1. services ($9.15 billion)
2. computer software and hardware ($6.41 billion)
3. trading ($4.46 billion), and automobile ($2.62 billion)
• Singapore has replaced Mauritius as the top source of foreign investment into India in the
last fiscal, accounting for $16.22 billion inflows
• India has received $8 billion FDI from Mauritius.
• The other major investors in the country includes Japan, the Netherlands, the UK, the US,
Germany, Cyprus, the UAE and France.
2.45 Asian Development Bank to provide USD 750 million loan to India for railway track
electrification project
[Regional economic Cooperation]
[Social Sector - Health]
• Asian Development Bank (ADB) has signed an agreement to provide USD 750 million
equivalent in Indian rupee long-term financing to electrify railway tracks in India
• It is the largest single non-sovereign loan ever committed by ADB to Indian Railway Finance
Corporation (IRFC) to fund the railways track electrification project
• IRFC will use the proceeds from the loan to install electric traction equipment along about
3,378 kilometres of existing railway lines to enable migration of passenger and freight traffic
from diesel to electric traction.
• The Indian government has developed a five-year capital expenditure programme of USD 132
billion for modernisation of Indian Railways.
• This comprises network expansion and decongestion, enhancement of safety and passenger
amenities, development of dedicated freight corridors, station redevelopment, and
procurement of rolling stock and other related assets

2.46 Algeria and Argentina certified malaria-free by WHO
[Human Development]
• The World Health Organization (WHO) has declared Argentina and Algeria ‘malaria-free’ in
May 2019. Algeria and Argentina reported their last cases of indigenous malaria in 2013 and
2010 respectively.
• A country is certified ‘free’ of a disease on proving it interrupted indigenous transmission for
at least 3 consecutive years.
• Argentina is also only the second in the Latin Americas to be malaria free in the last 4 decades
after Paraguay
• Paraguay was recognized malaria free last year
About Malaria
• Malaria is a parasitic disease transmitted through the bite of female Anopheles mosquitoes. It
is preventable and treatable.
• WHO has declared 38 countries and territories malaria-free. But the disease is making a
comeback worldwide. There were an estimated 219 mln cases of malaria in 2017, leading to
0.4 mln deaths in 2017.
• India represents 4 per cent of the global malaria burden, recorded a 24 per cent reduction in
cases in 2017 compared to 2016.
• India has set a target of being malaria-free by 2027 and eliminating the disease by 2030.
2.47 China continues to use ozone depleting CFC-11 in violation of Montreal Protocol :Report

• According to the research published in the journal “Nature” , China has been illegally emitting
the banned ozone-depleting chemical Trichlorofluoromethane or CFC-11
• CFC-11 was phased out under the 1987 Montreal Protocol
• Despite being the signatory to the Montreal Protocol, and agreeing to phase out production
of CFC-11 in 2010, China continued to emit the polluting gas.
• According to UK-based non-profit, Environmental Investigation Agency (EIA), the Chinese foam
manufacturers have been using CFC-11 illegally to save on the higher cost of alternatives
About Montreal Protocol

• The Montreal Protocol on Substances that Deplete the Ozone Layer is an international
agreement made in 1987
• It was designed to stop the production and import of ozone depleting substances and reduce
their concentration in the atmosphere to help protect the earth's ozone layer
• The Montreal Protocol sits under the Vienna Convention for the Protection of the Ozone Layer
, that was adopted in 1985 following international discussion of scientific discoveries in the
1970s and 1980s highlighting the adverse effect of human activity on ozone levels in the
stratosphere and the discovery of the ‘ozone hole’
• The objectives of Montreal Protocol are to promote cooperation on the adverse effects of
human activities on the ozone layer.
• The Montreal Protocol is an international environmental agreement with universal
ratification to protect the earth’s ozone layer by eliminating use of ozone depleting
substances (ODS)
• Initially signed by 46 countries, the treaty now has nearly 200 signatories.
2.48 Acharya Balkrishna receives 'UNSDG 10 Most Influential People in Healthcare Award'
• Patanjali Ayurved Limited's Managing Director, Acharya Balkrishna received the 'UNSDG 10
Most Influential People in Healthcare Award' on behalf of Patanjali Group of Institutions
in Geneva , Switzerland
• Acharya was invited to represent India at UNSDG
• He has been awarded by UNSDG in relation to global health scenario and how these prevalent
lifestyle diseases can be treated with Ayurveda, Yoga and other traditional Indian methods
and Patanjali’s contribution towards achieving this

2.49 25 states miss deadline for plan on plastic disposal
• Over 25 state governments have missed the deadline of 30th April set by the National Green
Tribunal (NGT) to submit action plans to the CPCB
• The states might now have to pay a compensation at the rate of Rs one crore per month, as
per the order passed by National Green Tribunal (NGT)
• Except Andhra Pradesh, Puducherry, Sikkim and West Bengal, the remaining states/UTs and
SPCBs (state pollution control boards) have failed to submit the Action Plan for
implementation of various provisions of Plastic Waste Management (PWM) Rules 2016 ,
amended in 2018
Background
• Lack of knowledge and updates among the state pollution control boards is the main reason
for non-compliance of plastic waste management rules
• The NGT had earlier this year directed all states and Union territories except Andhra Pradesh,
Sikkim, West Bengal and Puducherry to submit action plan for compliance of PWM Rules
and furnish the same to the CPCB by April 30, 2019
• These rules have to be submitted for setting-up of plastic waste management system for
collection, segregation and disposal of plastic waste in the cities, towns and villages and
registration of plastic units
• It has been noted that though 22 states have imposed complete ban on use of plastic carry
bags but due to lack of proper regulation, thin carry bags and other plastic products are
indiscriminately stocked, sold and used in majority of cities/towns across the country.
2.50 India elected to Executive Board of first UN-Habitat Assembly

• India has been elected to the Executive Board of the first UN-Habitat Assembly
• The first session of the UN-Habitat Assembly has started on May 27th at the headquarters of
UN-Habitat in Nairobi and will go on till May 31st, 2019

• The special theme for the UN-Habitat Assembly is "Innovation for Better Quality of Life in
Cities and Communities"
About UN Habitat Assembly
• During the first session, The Assembly is expected establish the Executive Board of UN-Habitat
and elect its members, to review and approve the UN-Habitat Strategic Plan 2020-2025
• It is also expected to review the Progress in implementation of New Urban Agenda
• Member States of the United Nations are expected to participate in the deliberations of the
UN-Habitat Assembly
• In addition, a State which is a member of a Specialized Agency, and Observer Members States
of the United Nations may participate in the deliberations of the UN-Habitat Assembly in the
capacity of an observer.
• The Assembly will also be attended by United Nations Agencies, Local authorities and non-
state actors including civil society, youth and women group representatives, the private
sector and the Academia.
2.51 India moves up to 43rd in competitiveness

• IMD Business School based in Switzerland has released The World Competitiveness Rankings
for the year 2019
• According to the rankings , Singapore has got the top position while Hong Kong is at the
second position
• The US has slipped to the third place in the 2019 edition from the top position last year
• India’s rank has improved from last year and is now 43 out of 63 ranked economies
India & its Ranking

• India has improved its ranking due to its robust economic growth, a large labour force , its
huge market size , improvements in business legislation and an increase in public expenditure
on education.
• India was ranked 46th in the year 2018 , 45th in 2017 and 41st in 2016.
• The IMD study said the challenges before India are :
1. maintaining high growth with employment generation
2. digital literacy and internet bandwidth in rural areas
3. managing fiscal discipline

4. issues related to the implementation of Goods and Services Tax and resource mobilisation
for infrastructure development
About the Rankings

• It was established in 1989 and incorporate 235 indicators to evaluate the ability of economies
to foster an environment where enterprises can achieve sustainable growth, generate jobs
and increase welfare for its citizens.
• The IMD Business School it takes into account a wide range of statistics such as
unemployment, GDP and government spending on health and education, as well as data
from an executive opinion survey covering topics such as social cohesion, globalization and
corruption
2.52 US has removed India from its currency monitoring watchlist

[Globalization]
• US government has removed India from its currency monitoring watchlist
• In its semi-annual foreign-exchange report to the Congress, the US Treasury Department did
not mention India's name in the watchlist of countries with potentially questionable foreign
exchange policies.
What is this list?

• The list basically consists of major trading partners of US who are to be closely monitored for
potentially questionable foreign exchange policies
• India and Switzerland were removed because for two consecutive reports they had both met
only one of three criteria necessary for inclusion on the monitoring list
• The designation of a country as a currency manipulator does not immediately attract any
penalties but it tends to dent the confidence about a country in the global financial markets
Countries in the list

• India, alongside China, Japan, Germany, Switzerland and South Korea, was placed in the bi-
annual currency watch list in October 2019
• While India and Switzerland have not been mentioned in the latest list, the US has added
Ireland, Italy, Malaysia, Singapore and Vietnam to the list, with China continuing to figure in
it
2.53 Women in Business and Management: ILO Report

[Gender Issues , Employment Generation]
• ILO has released its Report “Women in Business and Management: The business case for
change”
• The report, Women in Business and Management: The business case for change has surveyed
almost 13,000 enterprises in 70 countries
• More than 57 per cent of respondents agreed that gender diversity initiatives improved
business outcomes

• Almost three-quarters of those companies that tracked gender diversity in their management
reported profit increases of between 5 and 20 per cent, with the majority seeing increases of
between 10 and 15 per cent.
• Almost 57 per cent said it was easier to attract and retain talent
• More than 54 per cent said they saw improvements in creativity, innovation and openness
• 54 percent said effective gender inclusivity enhanced their company’s reputation, while
almost 37 per cent felt it enabled them to more effectively gauge customer sentiment.
Note : Following news are common in both ESI & Finance

section
2.54 Bank credit to infra sector grows 18.5% in FY19: RBI data
[Monetary Policy]
• According to the recently released RBI data , bank credit to infrastructure sector has grown by
18.5 per cent to ₹10.55 lakh crore as of 2018-19, which is the highest since 2012-13
• Outstanding bank credit to the sector was ₹8.91 lakh crore as at March 2018
• As per the RBI data, bank loans to the overall industrial sector have grown by 6.9 per cent
to ₹28.58 lakh crore in FY19
Background
• In FY18 and FY17, growth in bank credit to the sector was negative at 1.7 per cent and 6.1 per
cent, respectively.
• In FY18, loans to industries had grown by 0.7 per cent
• Within infrastructure, bank loans to power sector have increased by 9.5 per cent to ₹5.69 lakh
crore compared to ₹5.19 lakh crore in FY18.

• Roads sector witnessed a credit growth of 12.2 per cent to ₹1.86 lakh crore as of end-March
2019.
• Credit to telecommunications and other infrastructure (excluding roads, power and telecom)
rose by 36.7 per cent and 53.5 per cent, respectively over FY18, the RBI data showed.
• In FY19, total bank credit rose 13.24 per cent and deposits grew by 10.03 per cent.
2.55 India's GDP growth forecast at 7.1% for FY20 : FICCI

• The country's median GDP is forecasted at 7.1 per cent for FY20 and 7.2 per cent for FY 21,
according to a survey by FICCI
• According to FICCI's economic outlook survey , the minimum and maximum growth estimate
stood at 6.8 per cent and 7.3 per cent, respectively, for 2019-20.
• The survey was conducted in May 2019 among economists belonging to the
industry, banking and financial services sectors.
Other Findings of the Survey

• The median growth forecast for agriculture and allied activities was pegged at 3 per cent for
FY20, while industry and services sectors are expected to grow by 6.9 per cent and 8 per cent,
respectively, during the year 2019-20
• The median growth forecast for IIP has been put at 4.4 per cent for FY20, with a minimum and
maximum range of 3.3 per cent and 5.5 per cent, respectively.
• Inflation is expected to remain moderate
• Wholesale Price Index (WPI) based inflation rate is projected at 3.1 per cent in 2019-20, with
a minimum and maximum range of 2.1 per cent and 4 per cent, respectively
• While, the Consumer Price Index (CPI) based inflation has a median forecast of 4 per cent for
2019-20, with a minimum and maximum range of 3.5 per cent and 4.1 per cent, respectively

3 GA + Finance in news
3.1 Income Tax dept, GSTN to share taxpayer data to scale up scrutiny
[GST]
• The government has authorized the income tax department to share details including sales
and profits that businesses have reported in their income tax returns with GSTN.
• The step has been taken to scale up scrutiny and check tax evasion.
• A formal system of data sharing between direct and indirect tax authorities means businesses
have to be extra careful while filling up their tax returns and avoid mismatches.
Relevance of this move
• The move will allow direct and indirect tax authorities to zero in on discrepancies in the
information that business have disclosed in their respective tax return forms and also to nail tax
evaders
• The move comes as part of tightening of anti-evasion measures after the GST Council has given
several relaxations in recent months to ease the rigors of tax compliance to businesses,
especially to small ones
• With more information in hand, the government would be able to validate amount of income
disclosed both under the Income-tax and GST which would enable the authorities to identify
under-reporting or non-reporting of income
About GSTN
• The Goods and Services Tax Network - Special Purpose Vehicle (GSTN-SPV) was created as a
private limited, not-for-profit company under Section 25 of the Companies Act, 1956 (Section
8 of the Companies Act, 2013) by Govt. of India on 28th March 2013
• It provides shared IT infrastructure and services to Centre and States Governments, taxpayers
and other stakeholders for implementation of Goods and Services Tax (GST) in the country.
• In 2018 , Government notified the acquisition of entire 51% of equity held by the Non-
Governmental Institutions in GSTN amounting to Rs. 5.1 crore, equally by the Centre and the
States governments
3.2 India's fiscal deficit touched 4.52% at end-February

[Fiscal Policy]
• The country's fiscal deficit at the end of February 2019 had touched 4.52 per cent of the GDP,
according to a recent notification by Finance Ministry
• The fiscal deficit is at Rs 8,51,499 crore and has crossed 134 per cent of the budget estimate
(BE). In the corresponding period of previous year, the deficit stood at 120 per cent .
Comparison with last year

• Till end-February, the total expenditure of the government was Rs 21,88,839 crore or 89 per
cent of BE. The figure for the corresponding Period of the Previous Year (COPPY) was 90 per
cent.
• It comprised Revenue Expenditure of Rs 19,15,303 crore, or at 89 per cent of of BE, as
compared to 88 per cent in the year-ago period and Capital Expenditure of Rs 2,73,536 crore
at 87 per cent of BE.
• Against this, the receipts were far less. Total receipts were Rs 13,37,340 crore by end-February,
or at 73 per cent of the BE.
• Gross tax collection for the period had touched Rs 16,92,110 crore or 75 per cent of the BE,
against 81 per cent in the same period of the previous fiscal.
3.3 Reserve Bank of India releases Annual Report of the Banking Ombudsman Scheme 2006
[RBI functions]
• The Reserve Bank of India has released the “Annual Report of the Banking Ombudsman
Scheme for the year 2017-18”
Highlights of the Report are as follows:

• The 21 Offices of the Banking Ombudsman received 1,63,590 complaints in the year 2017-18
marking an increase of 24.9% over previous year.
• Offices of Banking Ombudsman maintained a disposal rate of 96.5% as compared to 92.0% in
the previous year.
• The major grounds of complaints received during the year were non-observance of fair
practices code (22.1%), ATM and debit card issues (15.1%), credit card issues (7.7%), failure to
meet commitments (6.8%), mobile and electronic banking (5.2%).
• Complaints received on grounds such as problems relating to ‘Pension’, ‘Levy of Charges without
Notice’, ‘Loans and Advances’, ‘Remittance’, ‘DSA and Recovery Agents’ and ‘Mis-selling’ each
accounted for 5% or less of the total complaints received.
• 65.8% of maintainable complaints were resolved by agreement i.e., through mediation. During
the previous year, the figure stood at 42.4%.
• 148 Awards were issued by 12 out of the 21 Banking Ombudsman in 2017-18 as compared to
31 Awards issued in the previous year.
• The Appellate Authority received 125 Appeals in the year 2017-18 as compared to 15 Appeals
in the previous year. The rise in the number of Appeals followed expansion of the grounds on
which Appeals can be filed against the decision of BOs with effect from July 1, 2017.
• The average cost of handling a complaint came down from ₹ 3,626/- in 2016-17 to ₹3,504/- in
2017-18 due to increase in efficiency and economies of scale.
• Offices of Banking Ombudsman organized awareness campaigns/outreach activities, town hall
events, advertisement campaigns to spread awareness about the Scheme primarily covering the
rural and semi-urban areas of their respective jurisdictions.
• RBI’s SMS handle ‘RBISAY’ was extensively used for sending text messages on topics such as
fictitious offers of money, secured use of electronic banking facilities, BO Scheme, etc.
• An Integrated Voice Recognition Service facility (by giving a missed call on 14440) was also made
available to public by RBI for getting more information on the above
Important points about Ombudsman scheme

• A complaint can be made to the Banking Ombudsman only after first making a complaint to
the bank concerned. If an unsatisfactory response is received or no response is received for a
month, the customer can approach the Banking Ombudsman.
• Complaints can be made in relation to bank accounts, loans, credit cards and mis-selling of
financial products among other matters.
• An appeal can be filed before the Appellate Authority if a party to the complaint is dissatisfied
by the Ombudsman’s decision within 30 days of the decision.
Background
• The Banking Ombudsman Scheme, 1995 was notified by the Reserve Bank of India on June 14,
1995 under Section 35-A of the Banking Regulation Act, 1949
• The aim and objective of the Scheme is to provide a quick and cost-free resolution mechanism
for complaints relating to deficiency of banking services of common bank customers, who
otherwise find it difficult or cost prohibitive to approach any other redressal fora such as
courts
• The Scheme is applicable to Scheduled Commercial Banks, Scheduled Primary Urban Co-
operative Banks and the Regional Rural Banks.
• There are 21 Banking Ombudsmen with specific State-wise jurisdiction covering all the States
and Union Territories.
3.4 GST Revenue collection for April 2019 recorded highest collection since GST implementation
[GST]
• The total gross GST revenue collected in the month of April 2019 is Rs 1,13,865 crore.
• Of this amount , CGST is Rs 21,163 crore, SGST is Rs 28,801 crore, IGST is Rs
54,733 crore (including Rs 23,289 crore collected on imports) and Cess is Rs 9,168
crore (including Rs 1,053 crore collected on imports)
• The total number of GSTR 3B Returns filed for the month of March up to 30th April 2019
is 72.13 lakh
• The government has settled Rs 20,370 crore to CGST and Rs 15,975 crore to SGST from IGST as
regular settlement and Rs 12,000 crore has been settled from the balance IGST available with
the Centre on provisional basis in the ratio of 50:50 between Centre and States
• The total revenue earned by Central Government and the State Governments after regular
and provisional settlement in the month of April 2019 is Rs 47,533 crore for CGST and Rs
50,776 crore for the SGST
What is GSTR 3B Returns?

• Filing GSTR 3B form is mandatory for all those who have registered for the Goods and Services
Tax (GST).
• The GSTR 3B is a simple tax return form introduced by the Central Board of Excise and Customs
(CBEC) for the month of July and August are to be filed in the month of September
Background
• The revenue in April 2018 was Rs 1,03,459 crore and the revenue during April 2019 is a growth
of 10.05% over the revenue in the same month last year
• The revenue in April 2019 is 16.05% higher than the monthly average of GST revenue in FY
2018-19 (Rs 98,114 crore)
3.5 Paytm launches recurring payments service for merchants

[Recent developments in the financial sector]
• Paytm has launched recurring payment (auto pay) service for merchants that are working on
a digital subscription model
• This will allow the subscription-based businesses to collect payments from their subscribers
effortlessly
Auto Pay service and Recurring Payments

• The auto pay service is targeted at people who use Paytm for bill payments, content
subscription, grocery purchases, membership fees, housing society payments etc.
• The service is being offered as an additional mode of payment other than credit/debit cards,
internet banking and other Paytm proprietary instruments
• Recurring payments are an automatic payment system wherein the merchants automatically
charge their customers for a specified service on a pre-arranged schedule
• This requires the merchant to first get explicit permission from the subscriber and post-one-
time authorization fee, the subscription amount will automatically get deducted after a regular
interval.
3.6 RBI imposes fines on PPIs for violating norms

[RBI functions]
• The Reserve Bank of India has slapped monetary penalty on five pre-paid payment instrument
issuers for violating regulatory guidelines.
• A penalty of ₹3.05 crore has been imposed on Vodafone m-pesa and ₹1 crore each on Mobile
Payments, PhonePe and G.I. Technology Private Ltd. and penalty of ₹5 lakh has been imposed
on Y-Cash Software Solutions

Background
• In exercise of powers vested under Section 30 of the Payment and Settlement Systems Act,
2007, the Reserve Bank of India (RBI) has imposed monetary penalty on five PPI Issuers for non-
compliance of regulatory guidelines
• The penalties on Western Union and MoneyGram had been imposed by the central bank under
the provisions of the Payment and Settlement Systems Act, 2007, for compounding of the
contravention
What are Pre-Paid Instruments?
• Prepaid payment instruments (PPIs) come with a pre-loaded value and in some cases a pre-
defined purpose of payment
• They facilitate the purchase of goods and services as well as inter-personal remittance
transactions such as sending money to a friend or a family member
• These payment instruments are licensed and regulated by the Reserve Bank of India. There are
three types of PPIs—closed system PPIs, semi-closed system PPIs and open system PPIs
3.7 RBI raises cap on home loans by SFBs, RRBs

[RBI functions]
• In order to bring the Regional Rural Banks (RRBs) and Small Financing Banks(SFBs) at a level
playing field with other Scheduled Commercial Banks, the Reserve Bank of India has decided to
enhance the housing loan limits for eligibility under priority sector lending (PSL) in respect of
RRBs and SFBs
New Notification by RBI
• Accordingly, in respect of RRBs and SFBs, housing loans to individuals up to ₹ 35 lakh in

metropolitan centres (with population of ten lakh and above) and ₹ 25 lakh in other centres,
provided the overall cost of the dwelling unit in the metropolitan centres and at other centres
does not exceed ₹ 45 lakh and ₹ 30 lakh, respectively will be eligible for classification under
Priority Sector Lending.
• Furthermore, the existing family income limit of ₹ 2 lakh per annum eligible for loans to
housing projects exclusively for the purpose of construction of houses for Economically
Weaker Sections (EWS) and Low Income Groups (LIG), is revised to ₹ 3 lakh per annum for
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EWS and ₹ 6 lakh per annum for LIG, in alignment with the income criteria specified under the
Pradhan Mantri Awas Yojana.
Background
• Earlier loans to individuals up to ₹ 20 lakh for purchase/construction of a dwelling unit per

family provided the overall cost of the dwelling unit does not exceed ₹ 25 lakh were eligible
to be classified under priority sector
• In terms of the Compendium for SFBs, loans to individuals up to ₹ 28 lakh in metropolitan
centres (with population of ten lakh and above) and ₹ 20 lakh in other centres, were eligible
to be classified under priority sector, provided that the cost of dwelling unit does not exceed ₹
35 lakh and ₹ 25 lakh, respectively
3.8 RBI plans more forex swaps, steps to inject cash

[RBI functions , Fiscal Policy]
• The Reserve Bank of India (RBI) is expected to conduct at least one more swap of rupees for
dollars after the general election as part of an effort to support economic growth
• RBI also plans to conduct open market operations of up to ₹50,000 crore over the next two
months
Relevance of these steps
• These moves are expected to increase cash in the financial system and help push interest rates
down thereby potentially helping borrowers where an interest rate cut has not.
• The RBI's two $5 billion buy/sell swap auctions in March and April together injected close
to ₹70,000 crore into the banking system
What is Dollar Swap mechanism?
• RBI dollar swap mechanism is adopted to improve liquidity in the system and also curb any
volatility in the rupee movement against the dollar
• Herein the bank dollar balance is converted into rupees and It is to overcome the liquidity deficit
in the economy
Background

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• Economic growth slowed to 6.6% in the October-December quarter, the worst in five quarters,
and economists even see a further slowdown in January-March largely due to high interest
rates and surging oil prices
• Despite cutting its key policy rate by 50 basis points this year to 6%, the RBI has struggled to get
banks to reduce lending rates due to tight cash conditions and high deposit rates
3.9 Direct tax collections fall short of ₹82,000 crore in FY 19

[Direct and Indirect Taxes]
• Direct Tax collections have fallen short by ₹82,000 crore at 11.18 crore during 2018-19
• The government had set a target of ₹12 lakh crore. Total tax collection numbers indicate that
it got 13.4% more than the previous fiscal but fell short of the revised target of 18%
• The Central Board of Direct Taxes (CBDT) has constituted a committee for a central action plan
for 2019-20 , that will suggest areas of improvement
Reason for shortfall
• One of the reasons for the shortfall was lower corporate tax collections than anticipated. The
collections from some regions were much below than those of last year.
• Profits of micro, small and medium enterprises have been lower, which had a negative impact
on tax collections.
3.10 SEBI allows FPI investment in municipal bonds

[Primary and Secondary market -SEBI]
• According to a recent circular passed by SEBI , Foreign portfolio investors can now invest in
municipal bonds
• The circular has come almost two weeks after the Reserve Bank of India (RBI) permitted FPIs
to invest in municipal bonds as a measure to broaden access of non–resident investors to debt
instruments in the country
• As per the RBI, foreign investment in municipal bonds should be within the limits set for FPI
investment in State Development Loans (SDLs)
• The limits for FPI investment in SDLs is 2% of outstanding stock of securities.
• All other existing conditions for investment by FPIs in the debt market remain unchanged, the
central bank had said in a circular on April 25
What are Municipal Bonds?
• Municipal bonds are debt obligations issued by government entities

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• Buying a municipal bond means loaning money to the issuer in exchange for a set number of
interest payments over a predetermined period
• At the end of that period, the bond reaches its maturity date, and the full amount of original
investment is returned to the buyer
Background
• In 2017, SEBI eased rules governing the issuance of municipal bonds in order to boost such
bond market
• It had allowed municipalities with surplus in their books in three immediately preceding financial
years to issue public debt securities
3.11 Chief Economic Advisor Krishnamurthy Subramanian appointed as member of Advisory

Council of 15th Finance Commission
[Finance Commission]
• The Chief Economic Advisor to Central government, Dr. Krishnamurthy Subramanian has
been included as the member of the Advisory Council of the Fifteenth Finance Commission
• Dr. Krishnamurthy Subramanian will be the twelfth Member of the Council
Background
• In April 2018 , Fifteenth Finance Commission had constituted an Advisory Council
• The members of the commission were - Dr. D.K. Srivastava, Dr. Indira Rajaraman, Dr. Arvind
Virmani, Dr. Surjit S. Bhalla, Dr. Sanjeev Gupta, Prof. Pinaki Chakraborty, Sajjid Chinoy,
Neelkanth Mishra, Prachi Mishra, Dr M. Govinda Rao, and Dr. Omkar Goswami.
Functions of the Council

• The role and function of the Council is to advise the Commission on any issue or subject
related to the Terms of Reference (ToR) of the Commission, which may be of relevance and
to assist in the preparation of any paper or research study which would enhance the
Commission's understanding on the issue contained in its ToR
• Its functions also include helping in broadening the Commission's ambit and understanding to
seek best national and international practices on matters pertaining to fiscal devolution and
improving the quality and reach and enforcement of its recommendations
About Finance Commission

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• It is constituted under article 280 of Constitution by President of India. It is mandated to give
its recommendations on tax devolution i.e. distribution of tax revenues between Union and
States and amongst states themselves
• It is appointed for a period of five years and comprise of five member including one chairman
and four other members
• It was constituted in November 2017, to give recommendations for tax devolution and other
fiscal matter for five fiscal years, 1 April 2020- 31 March 2025
3.12 Meeting of the 15th Finance Commission with the Reserve Bank of India
[RBI Functions , Finance Commission]
• The 15th Finance Commission headed by Chairman, Shri N.K. Singh held a detailed meeting with
the Governor and Deputy Governors of RBI in Mumbai
• Key issues raised by RBI Governor, Shri Shaktikanta Das and Finance Commission Chairman, Shri
N.K. Singh are :
• The necessity of setting up State Finance Commissions for respective State Governments.
• Public Sector Borrowing Requirements.
• It was felt that continuity of the Finance Commission was required more in view of the fiscal
management requirements of the States, especially given the absence of mid-term reviews of
Awards granted by the Finance Commission, as it used to happen earlier with the Awards
granted by the Planning Commission.
• Need for Expenditure Codes, especially given that expenditure norms vary from state to state.
• Role of States in Growth and Inflation, for instance, role of states in Ease of doing Business.
• RBI has listed out specific factors that would drive fiscal slippages in the revised estimates of
2018-19, including "farm loan waivers and income support schemes"
• It is important to note that ahead of the general elections, a slew of states and also the Centre
had doled out sops to the marginalized sections, including the farmers and the poor.
About the Role of Finance Commission
• A finance commission is set up very five years by the President under Article 280 of the
Constitution
• Its main function is to recommend how the Union government should share taxes levied by it
with the states. These recommendations cover a period of five years

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• The commission also lays down rules by which the center should provide grants-in-aid to
states out of the Consolidated Fund of India
• It is also required to suggest measures to augment the resources of states and ways to
supplement the resources of panchayats and municipalities.
3.13 CBIC organizes meeting of Regional Heads of Customs Administration of the World Customs
Organization (WCO)
[Direct and Indirect Taxes]
• Central Board of Indirect Taxes and Customs (CBIC) has organized a meeting of the Regional
Heads of Customs Administration of Asia Pacific Region of the World Customs Organization
(WCO) in Kochi from 08th to 10th May 2019
• India is the Vice Chair of the Asia Pacific region from 1st July 2018 for a two-year period
Relevance of the meeting
• The meeting has taken stock of the progress being made in carrying forward the programmes
and initiatives of WCO to promote, facilitate and secure the cross-border trade in the region
and the capacity building and technical assistance required to achieve this goal
• Trade Day was organized on 7th May 2019 as a precursor to the meeting of the Regional Heads
of Customs.
• This day was observed to recognize the importance of the collaborative approach between
Customs and trade
• In this meeting , representatives from trade & industry and think-tanks have shared their
insights and experiences that are expected to shape the thinking of customs administrations of
the region in adopting policies and measures to promote trade facilitation and secure global
trade and promote ethical leadership.
About WCO
• The World Customs Organization (WCO) was established in the year 1952 as the Customs Co-
operation Council (CCC)
• It is an independent intergovernmental body whose mission is to enhance the effectiveness
and efficiency of Customs administrations.
• Today WCO represents 183 Customs administrations across the globe that collectively process
approximately 98% of world trade
• It is the only international organization with competence in Customs matters and can rightly call
itself the voice of the international Customs community
3.14 Banks close FY19 with 13.24% credit growth, deposits up 10.03%
[Banking system in India]
• According to the Reserve Bank data released on 9th May, bank credit has risen 13.24 % to ₹97.67
lakh crore for the fortnight to March 29th and the deposits have grown by 10.03 % to ₹125.72
lakh crore during the same period.
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• This is the second consecutive double-digits credit growth after FY17 when it had fallen to 4.54
% which was the lowest since 1963
Report by RBI
• The Reserve Bank of India’s data on deployment of gross credit across different sectors shows
healthy credit growth in the services sector followed by retail sector
• Credit growth in services sector till the middle of February was 23.7% and in retail sector it
was 16.7%
• Credit growth in the industry sector was 5.6%
• According to RBI , Banks have also benefited from the liquidity crunch that non-
banking financial companies are facing following the IL&FS crisis
• NBFCs have slowed down their loan growth since their cost of funds increased substantially after
September-October. This is particularly true for retail loans, where NBFCs are a major player.
• Banks have been pushing loans to the corporate sector at a slower pace after sharp rise in bad
loans, mostly in sectors like infrastructure, power, and iron and steel.
3.15 Govt reworking strategic sale procedure for CPSEs

[Public Sector Reforms]
• The finance ministry is reworking strategic sale procedure to ensure outright sale of Central
Public Sector Enterprises (CPSEs) within 4 months of issuance of documents to potential
investors
Its Relevance
• This move is aimed at ensuring speedier conclusion of the entire process

• For CPSEs which are relatively bigger in size like Air India, the timeline for completion of
strategic sale is likely to be fixed at 6 months from the date of issuance of Preliminary
Information Memorandum (PIM) about the company.

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Background
• Currently, there is no set timeline for concluding strategic sale of a state-owned company and
the entire process drags on for months or even years
• Department of Investment and Public Asset Management (DIPAM) is facing a daunting task of
meeting the ₹90,000 crore disinvestment target in the current fiscal
• It will focus on outright sale of selected CPSEs, which have been pending for long
• NITI Aayog has already identified 35 profitable and loss-making CPSEs which can go in for
strategic sale.
3.16 Bharatpe launches India's first UPI Bahi Khata for merchants
• India's first Fintech start-up BharatPe has announced its foray into merchant services with a
new app
• The app will enable payments for merchants through interoperable UPI QR codes
• Some of the prominent features on BharatPe's app for merchants include UPI Khata (Ledger),
Managing Supplier Bills, Cashback, Settlements and Refer and Earn.
• The app allows merchants to record their cash/credit (Udhar) sales customer wise, request
accounts receivable from customers via SMS payment links, and keep track of accounts
payable to suppliers, among other services.
• The BharatPe app also serves as a networking platform for merchants to connect with
other BharatPe merchants near them and to collaborate with them to both sources and expand
their businesses.
3.17 M-wallet transactions rise after a 5-month gap in March: RBI data
[Recent developments in financial sector]
• According to the recently released data by RBI , Mobile wallet-based transactions have
witnessed an increase for the first time in five months
• There were 384.89 million transactions in March worth ₹15,990 crore in March, an increase of
12% from the month of February
• The growth can be attributed to the year-end phenomenon when monetary transactions usually
increase.
Background

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• There has been a 30% year-on-year jump in 2018-19 in terms of value at ₹1.83 trillion and 37%
growth in volume of transactions at 4.13 billion as compared with 2017-18.
• Transactions through mobile wallets started declining after hitting an all-time high in October,
both in terms of value and volume. Around 368.45 million transactions amounting to₹18,786
crore took place in October.
• The downtrend in mobile-wallet transaction could be directly proportionate to the sustained
increase in transactions through the Unified Payments Interface (UPI), which hit a record high
of 799.54 million worth ₹1.33 trillion in March
3.18 RBI appoints R. Gandhi on board of Yes Bank

[Functions of RBI]
• The Reserve Bank of India (RBI) has appointed former deputy governor Rama Subramaniam
Gandhi as an additional director on the board of Yes Bank for two years, from 14 May 2019 to
13 May 2021
• The appointment has been made under sub-section (1) of Section 36 AB of the Banking
Regulation Act, 1949
• According to this section, the RBI can appoint additional directors “if the Reserve Bank is of the
opinion that in the interest of banking policy or in the public interest or its depositors it is
necessary so to do
Background
• This appointment comes against the backdrop of Yes Bank reporting a loss of ₹1,507 crore for
the March quarter, driven by a 9-fold increase in provisions
• RBI’s decision to appoint Gandhi to the board of Yes Bank is seen as a precautionary measure
due to the governance issues
3.19 Number of ATMs is going down in India : RBI data

[Functions of RBI]
• According to a data by Reserve Bank of India , The number of automated teller machines in the
country have reduced in the past two years despite an increase in transactions
• According to International Monetary Fund , India already has the fewest ATMs per 100,000
people among BRICS nations

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Reason
• The drop may continue as banks and ATM operators struggle to absorb the cost of software and
equipment upgrades which have been mandated by the RBI last year to bolster security.
• ATM operators remain in a fix as the fees they rely on remain low and cannot see an uptick
without the approval of an industry committee
• Operators charge an interchange fee of Rs 15 to the lender whose debit or credit card is being
used by an individual for cash withdrawals
3.20 NSE penalises 250 companies for non-compliance of listing, disclosure norms
[Primary , Secondary market - SEBI]
• India’s biggest stock exchanges have penalized hundreds of companies for non-compliance
with the listing and disclosure norms of the Securities and Exchange Board of India (SEBI)
• The National Stock Exchange (NSE) has penalized about 250 companies for violating SEBI’s
Listing Obligation and Disclosure Requirement Regulations (LODR) 2015
• The violations include non-appointment of a woman director, compliance officer and share
transfer agent and delay in intimation of board meeting
• SEBI had specified a standard operating procedure for levying fines for non-compliance with
provisions of LODR 2015 in a 3 May 2018 circular.
Background
• As per the rules of SEBI , exchanges can levy per day fines and freeze the holdings of the
promoter and promoter group if non-compliant listed entities fail to comply with the
requirement of listing regulations and/or pay fine levied within the stipulated period.
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• If the non-compliance continues for two consecutive quarters, the stock exchange can shift the
trading in securities of the companies to a specified category wherein trades shall take place on
“Trade for Trade" basis and subsequently suspend the trading of companies.
3.21 RBI releases ‘Payment and Settlement Systems in India: Vision 2019 – 2021’
[RBI functions]
• RBI has released “Payment and Settlement Systems in India Vision 2019-21” on 15th May 2019
• The Payment Systems Vision 2021 has the core theme of ‘Empowering Exceptional (E)payment
Experience’
• It aims at empowering every Indian with access to a bouquet of e-payment options that is safe,
secure, convenient, quick and affordable.
What is Payment and Settlement Vision 2019-21?
• The Payment Systems Vision 2021 has been formalized based on inputs from various
stakeholders and guidance of the Board for Payment and Settlement Systems (BPSS)
• It envisages to achieve a ‘highly digital’ and ‘cash-lite’ society through the goal posts of
Competition, Cost effectiveness, Convenience and Confidence (4Cs).
• With concerted efforts and involvement of all stake holders, the Payment Systems Vision 2021,
with its 36 specific action points and 12 specific outcomes, aspires to :
a) enhance Customer experience, including robust grievance redressal
b) empower payment System Operators and Service Providers
c) enable the payments Eco-system and Infrastructure
d) put in place Forward-looking Regulations
e) undertake Risk-focused Supervision
• The ‘no-compromise’ approach towards safety and security of payment systems remains a
hallmark of the Vision.
• The payment systems landscape will continue to change with further innovation and entry of
more players which is expected to ensure optimal cost to the customers and freer access to
multiple payment system options.
• The Reserve Bank of India will implement the approach outlined in this Vision during the
period 2019 – 2021. The previous Vision document covered the period 2016-2018.

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3.22 BSE launches mobile app for its mutual fund platform
• Bombay Stock Exchange has launched 'BSE StAR MF' app to enable more participation and help
mutual fund distributors process transactions faster
Features of the App
• BSE StAR MF mobile app supports real-time client registration and paperless transactions,
creates and uploads mandate for SIPs, generates the basket of multiple orders, tracks and
allows the distributor to analyse his business at his fingertips
• The launch of the app would further provide comfort of doing business to our 24,000 members
• This app would not only increase their productivity, but would also enable IFAs (Independent
Financial Advisors) to take their business anywhere, anytime
3.23 SEBI , RBI examining business models of rating agencies

[Regulators of Banks and Financial Institutions]
• The Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) have held
discussions to examine the business model of credit rating agencies
New proposals
• Under the proposals being considered, issuers of high-value debt would need to get mandatory
dual ratings and invite bids to select a rating agency, while the agencies themselves must shield
their rating committees from the management, who is directly involved in the discussions at the
market’s regulator.
• The aim is to prevent so-called ratings shopping, in which companies seek out the agency that
promises the highest rating.
• Some of the norms will also ensure greater accountability of the CRAs (credit rating agencies)
such as explaining in greater detail when they change rating stance all of a sudden
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Background
• The proposal to review the business model of rating agencies follows a parliamentary standing
committee report in February 2019
• The committee had studied the conduct of rating agencies after the IL&FS crisis.
• One of the key proposals by the committee was changing ratings from a subscriber-based
model to an issuer-based model.
What are credit ratings?

• Credit rating is a symbol that denotes the creditworthiness of the security being rated. AAA is
the highest whereas D stands for Default.
• Credit ratings are assigned to fixed income securities such as corporate bonds, fixed deposits,
commercial paper, certificates of deposits and municipal bonds, as well as bank loans of
companies.
• Credit ratings can be provided only by specialized organizations that have been approved and
authorized by SEBI. Some of the rating agencies are CRISIL, ICRA, CARE etc.
3.24 RBI wants NBFCs with assets over ₹5,000 crore to appoint chief risk officers
[RBI functions]
• The Reserve Bank of India (RBI) has notified that non-banking financial companies (NBFCs) with
assets of more than ₹5,000 crore must appoint a chief risk officer (CRO)
• According to RBI , with the increasing role of NBFCs in direct credit intermediation, there is a
need for NBFCs to augment risk management practices
Role of risk officer

• The primary role of the risk officer will be identification, measurement and mitigation of risks
and all credit products shall be vetted by the CRO from the angle of inherent and control risks
• However according to RBI ,the CRO’s role shall be limited to being an adviser in deciding credit
proposals
• RBI has mandated that the CRO shall report directly to the managing director and chief
executive officer or the risk management committee (RMC) of the board
• Moreover, in case the CRO reports to the MD and CEO, the risk management committee or the
board shall meet the CRO in the absence of the MD and CEO, at least on a quarterly basis.
• The CRO shall be appointed for a fixed tenure with the approval of the board

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• The CRO can be transferred or removed from his post before completion of the tenure only
with the approval of the board and such premature transfer or removal shall be reported to
the department of non-banking supervision of the regional office of RBI under whose
jurisdiction the NBFC is registered
3.25 June 3 to 7 : Financial Literacy Week

[RBI Functions , Financial Inclusion]
• The Financial Literacy Week is an initiative of RBI to promote awareness on key topics every
year through a focused campaign
• Financial Literacy Week 2019 will be observed from June 3-7 on the theme of “Farmers” and
how they benefit by being a part of the formal banking system.
Background
• Growth in agriculture is necessary for the overall economic growth & finance is an essential
enabler for the same
• RBI is actively involved in formulating policies that enhance the flow of credit to the farming
community
• In recent years, the Bank has undertaken several initiatives to strengthen credit delivery
mechanism and financial inclusion
Its Relevance
• In order to build awareness and disseminate financial literacy messages to the farming
community, focused content in the form of posters and leaflets have been prepared for
dissemination
• Banks have been advised to display the posters and content in their rural bank branches,
Financial Literacy Centers, ATMs and websites
• Further, RBI will undertake a centralized mass media campaign during the month of June on
Doordarshan and All India Radio to disseminate essential financial awareness messages to
farmers.
• It is RBI’s 113endeavor to reach out to the farming community and all stakeholders are
requested to co-ordinate and make this financial literacy campaign a success.
3.26 Sensex posts biggest one-day gain in 10 years, closes at record high
[Primary and Secondary Markets]
• Indian markets have jumped sharply on 20th May 2019, posting their biggest one-day gain in 10
years
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• The Sensex 1,421 points to 39,352 while Nifty surged to settle at 3.7% higher at 11,828, their
highest close ever.
• This jump has been observed after exit polls showed BJP-led NDA getting a comfortable majority
in Lok Sabha elections
• The rupee also jumped against the US dollar
3.27 SEBI proposes framework for 'regulatory sandbox' for financial institutions
[Primary and Secondary Market]
• The Securities and Exchange Board of India (SEBI) has proposed a framework for ‘regulatory
sandbox’
• The term is used to define live testing of new products and services on a small set of customers
for a limited period of time
Relevance of this sandbox

• Innovation sandbox is a shared workspace to ideate, explore new subjects, develop
technologies and share knowledge
• The sandbox will be governed by a governance body comprising of representatives from the
bourses, depositories and Qualified Registrar and Share Transfer Agent (RTAs)
• The steering committee shall also be responsible for registering/onboarding the applicant post
approval of the application and monitor the participant throughout the lifecycle of the project
• To prevent any misuse the use of datasets will be governed by comprehensive confidentiality
agreement clearly specifying that the datasets cannot be sold or sublet or shared in any manner
with any other entities
• Under this framework, financial institutions which are regulated by SEBI shall be granted certain
facilities and flexibilities to experiment with fintech solutions in a live environment and on real
customers
• These features will be fortified with necessary safeguards for investor protection and risk
mitigation
Background
• According to SEBI , fintech firms should have access to market related data, particularly,
trading and holding data, which is otherwise not readily available to them, to enable them to
test their innovations effectively before the introduction of such innovations in a live
environment
• This would help in creating an ecosystem which promotes innovation in the securities market

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3.28 Reserve Bank of India Constitutes Task Force on the Development of Secondary Market for
Corporate Loans
[RBI functions]
• Reserve Bank has announced the constitution of a Task Force on development of secondary
market for corporate loans
• The chairperson and members of the task force are as follows :
Terms of Reference of this Task force

• To review the existing state of mortgage backed securitisation in India, including the regulations
currently in place, and to make specific recommendations on suitably aligning the same with
international norms
• To analyse the prevalent structures for mortgage backed securitisation transactions in India,
including legal, tax, valuation and accounting related issues, and suggest necessary
modifications to address the requirements of both originators as well as investors
• To identify the critical steps required for standardisation of mortgage backed securitisation
practices such as, conforming mortgages, mortgage documentation standards, digital registry
for ease of due diligence and verification by investors
• To assess the role of various counterparties, including the servicers, trustees, rating agencies,
etc. in the securitisation process and suggest measures required, if any to address the key risks,
viz., structural, fiduciary and servicer risks
• To recommend specific measures for facilitating secondary market trading in mortgage
securitisation instruments, such as broadening investor base, and strengthening market
infrastructure
• To analyse the inter-linkages between securitisation and other related financial market
segments/instruments and recommend necessary policy interventions to leverage these inter-
linkages
• To identify any other issue germane to the subject matter and make recommendations thereon.
Relevance of this task force

• Secondary loan market in India is largely restricted to sale to Asset Reconstruction Companies
and ad hoc sale to other lenders including banks, and no formalized mechanism has been
developed to deepen the market

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• A vibrant, deep and liquid secondary market for debt would go a long way in increasing the
efficiencies of the debt market in general and would aid in resolution of stressed assets in
particular
3.29 Nandan Nilekani-led panel on digital payments submits report to RBI

[RBI Functions , Financial inclusion]
• A Reserve Bank-appointed committee headed by Nandan Nilekani has submitted its

suggestions on promoting digital payments to Governor Shaktikanta Das
• The members of the committee are - Nandan 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 with the fifth member Sanjay Jain, chief innovation officer, Centre for
Innovation, Incubation & Entrepreneurship (CIIE), IIM Ahmedabad
• The Reserve Bank of India has said that it will examine the recommendations of the Committee
and will dovetail the action points, wherever necessary, in its Payment Systems Vision 2021
published on May 15, 2019, for implementation
Background
• In January 2019, the Reserve Bank of India had set up the five-member panel on deepening
digital payments with a view to encouraging digitization of payments and enhance financial
inclusion through digitization
• The panel was tasked :
1. reviewing the existing status of digitization of payments in the country
2. identifying the current gaps in the ecosystem and suggesting ways to bridge them
3. assessing the current levels of digital payments in financial inclusion
3.30 Kerala Becomes First Indian State To Tap Into Masala Bond Market

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• The Kerala Infrastructure Investment Fund Board’s (KIIFB) has celebrated its debut Masala
Bond listing on the London Stock Exchange with a special market open ceremony
• This debut has made the only state-government body from India to issue the rupee-
denominated offshore bond
• A Masala Bond is a rupee-denominated bond issued to overseas investors and are settled in
US Dollars and are typically subject to English law
Relevance of this news

• The bond has been admitted to London Stock Exchange’s International Securities Market (ISM)
with a five-year tenor and a 9.723 per cent coupon
• It is aimed at accessing capital from international investors for the southern state’s
infrastructure development
• The board has raised ₹2,150 crore through masala bonds. Though KIIFB loans are guaranteed
by the state, it does not come under the state government’s budget
LSE & Masala Bond

• London Stock Exchange claims to be the largest Masala Bond center globally
• It has 49 such rupee-denominated bonds listed across its markets
• Financial institution HDFC had become first Indian entity to get its masala bond listed in LSE in
2016
• The National Thermal Power Corporation (NTPC) and Indian Renewable Energy
Development Agency (IREDA) also have got masala bonds listed on the exchange
3.31 RBI plans to build a cadre for supervisory and regulatory roles
[RBI Functions]
• The RBI Board has decided to create a specialized supervisory and regulatory cadre within
the RBI
• The decision is based on the recommendations of an internal committee under the current
executive director in charge of NBFC supervision Rosemary Sebastian
• This has been decided with a view to strengthen the supervision and regulation of
commercial banks, urban cooperative banks and Non-Banking Financial Companies (NBFCs)
• The Board has also reviewed the present structure of supervision in RBI in the context of the
growing diversity, complexities and interconnectedness within the Indian financial sector
• This may involve consolidating the different supervisory activities under a separate division or
head, creating a pool of officials for better analysis of the continuous flow of data from banks
and finance companies, and involving specialists
Background
• The reason behind a potential overhaul of the RBI supervisory structure are expected to the
non-bank finance crisis, failures of credit rating agencies to flag risks, divergence in asset
quality by big banks and alleged lapses on the part of auditors.

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• The RBI central board which is chaired by Governor Shaktikanta Das along with deputy
governors and other members of the board have also reviewed the current economic
situation, global and domestic challenges and various areas of operations of the Reserve
Bank.
3.32 SEBI permits mutual funds to participate in commodity derivatives

• Market regulator SEBI (Securities and Exchange Board of India) has issued norms for
participation of mutual funds in commodity derivatives
• According to the circular by SEBI , Mutual funds have been permitted to participate in
commodity derivative market only through exchange traded commodity derivatives (ETCDs)
Details about the circular

• Hybrid funds and gold ETFs have been permitted by SEBI to participate in ETCDs
• No mutual fund schemes can invest in physical goods except in 'gold' through
Gold Exchange Traded Funds (ETFs)
• ETCDs having gold as the underlying, shall also be considered as 'gold related instrument' for
Gold ETFs.
• Mutual funds can make the investments in ETCDs through hybrid schemes and Gold ETFs.
• Total exposure to ETCDs is required to be disclosed in the monthly cumulative report
submitted by mutual funds
Investment Limit
• Mutual fund schemes shall participate in ETCDs of particular goods (single), not exceeding 10
per cent of net asset value of the scheme
• However, the limit of 10 per cent is not applicable for investments through gold ETFs in ETCDs
having gold as underlying.

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• In case of multi-asset allocation schemes, the exposure to ETCDs shall not be more than 30
per cent of the net asset value (NAV) of the scheme
• The cumulative gross exposure through equity, debt and derivative positions,
including commodity derivatives, should not exceed 100 per cent NAV of the scheme.
3.33 SEBI proposes to reduce time taken for rights issue process
• SEBI has proposed reducing the overall time taken for rights issue to around 31 days as well
as make the application and allotment process more efficient.
• Currently, rights issue process takes 55-58 days from the time company decides to launch the
issue till listing.
• SEBI has proposed to eliminate the requirement of giving newspaper advertisement and
replacing it with intimation to the shareholders through the stock exchanges and e-mail
Proposals by discussion paper

• The discussion paper presented by SEBI evaluates means to reduce time between
announcement of terms of the issue and issue closing, which would help in reducing price
risks
• It also seeks to make the application and allotment process more efficient by using the
banking and depository infrastructure as well as provide issuers with an efficient mechanism
for raising funds.
• It is also looking at means to streamline the process, reduce post issue timeline for rights
issues and methodologies associated with rights issue fund raising process
• It has proposed reduction in period of notice for companies to set a record date from 7 to 3
working days.
• It has suggested moving to electronic modes of receiving entitlements, processing, payment
and settlement in a rights issue including use of ASBA (Applications Supported by Blocked
Amount) as payment mode
3.34 RBI releases draft circular on “Liquidity Risk Management Framework for Non-Banking
Financial Companies and Core Investment Companies” for public comments
[Risk management in banking sector]
• Reserve Bank has placed a draft circular on the “Liquidity Risk Management Framework for
Non-Banking Financial Companies (NBFCs) and Core Investment Companies (CICs)” to be

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adopted by all deposit taking NBFCs , non-deposit taking NBFCs with an asset size of ₹ 100
crore and above and all CICs registered with the Reserve Bank.
• The draft guidelines cover application of generic Asset Liability Management (ALM)
principles, granular maturity buckets in the liquidity statements and tolerance limits,
liquidity risk monitoring tool and adoption of the “stock” approach to liquidity.
• In addition, the draft also proposes to introduce Liquidity Coverage Ratio (LCR) for all deposit
taking NBFCs and non-deposit taking NBFCs with an asset size of ₹ 5000 crore and above
• With a view to ensuring a smooth transition to the LCR regime, the proposal is to implement
it in a calibrated manner through a glide path over a period of four years commencing from
April 2020 and going upto April 2024.
Its Relevance
• The Non-Banking Financial Companies (NBFCs) play an important role in the financial system
of the country, particularly in delivering credit to the last mile, including the retail as well as
MSME sectors
• NBFCs’ ability to perform their role effectively and efficiently requires them to be financially
resilient, well-regulated and properly governed so that they retain the confidence of all their
stakeholders including their lenders and borrowers
• An analysis of the recent developments in the NBFC sector pointed to the need for a stronger
Asset Liability Management (ALM) framework in the NBFCs.
3.35 SBI to engage with 1 lakh customers to resolve concerns

[Banking sector]
• State Bank of India is going to conduct a customer outreach programme in the month of May
2019 to address their queries and seek suggestions to improve services.
• The 'Mega Customer Meet' is expected to engage with 1 lakh bank customers across 500
locations through 17 local head offices across the country.
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• SBI customers of Delhi, NCR and Uttarakhand are expected to attend this programme in 41
locations
• Under this initiative, customers can interact with the bank staff to discuss their concerns and
share feedbacks and suggestions on the bank's products and services
3.36 RBI tweaks norms on VRR investment by FPIs

[RBI Functions]
• According to a new notification , The Reserve Bank of India has fixed the investment limit
at ₹54,606.55 crore for foreign portfolio investors (FPIs) under the voluntary retention route
(VRR)
• VRR allows to park funds in both government securities as well as corporate debt.
• RBI has removed a mandatory investment cap, exempting investors from bringing in at least
a fourth of the limits purchased through the Voluntary Retention Route (VRR) within one
month
• The minimum retention period would be three years
• During this period, FPIs shall maintain a minimum of 75% of the allocated amount in India.
• According to RBI , investment limits should be available 'on tap' and allotted on 'first come,
first served' basis. The 'tap' would be kept open till the limit is fully allotted or till December
31, whichever is earlier.
Background
• RBI in consultation with the government and SEBI had introduced a separate channel called
the VRR , to enable FPIs to invest in debt markets in India
• It was expected to shield the rupee against a strengthening dollar.
• VRR for investments by FPIs was introduced on March 1. Limits for investment in debt by FPIs
were offered for allotment 'on tap' during the March 11-April 30 period.
• Based on the feedback received, and in consultation with the government, the RBI said it has
made certain changes in the scheme to increase its operational flexibility.
3.37 Motilal Oswal AMC launches WhatsApp transaction platform

[Financial inclusion – use of technology]
• Motilal Oswal Asset Management Company (AMC) has launched its WhatsApp transaction
platform for new as well as existing investors.
• It is the first of its kind initiative by any fund house in India to do mutual fund transactions
through the popular cross-platform messaging app
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• This is a standalone feature wherein the customers can use their WhatsApp window to
complete the mutual fund purchase
• The investor through his/her registered number can initiate a transaction in Motilal Oswal MF
funds just by typing a salutation.
• The customer can complete the entire process in less than two minutes and gets an instant
transaction confirmation through the medium
• The investor can make the investments either in a lump sum or through systematic investment
plans (SIP).
• The feature is not a part of WhatsApp Pay and is different from using it as a payment channel.
3.38 Liberalize investment cap, review restrictions for FPIs : SEBI panel
• SEBI committee has submitted its report suggesting a slew of changes in rules for foreign
portfolio investors
• The committee was headed by former Reserve Bank of India (RBI) deputy governor H.R. Khan
Recommendations of the committee :

• The key changes suggested including lifting restrictions on foreign portfolio investment (FPI)
limits, easing registration processes for well-regulated entities, insurance companies and
pension funds, and reclassifying FPI to foreign direct investment (FDI).
• The panel has also suggested that SEBI should have a discussion with the RBI and the
government to tweak the caps for FPIs
• The limits applicable for FDI in certain sectors should not be applicable for FPI
• The panel said that pension funds, which currently fall in category II, are generally perceived
to be low-risk investors and this made a strong case for migration to category I
• Similarly, it made a case that insurance firms should be deemed to be treated as broad-based
• Category-III funds have higher compliance requirements and documentation such as
integrity certificate and legal permissibility certificate
• The panel also proposed changing the broad-based fund definition on the basis of economic
ownership and not just the number of investors
• The underlying investor should hold at least 25% in the fund for it to qualify as broad-based.
It proposed that FPI category III coming from non-high risk jurisdictions will need to comply
with KYC requirements of category II.
Background
• Currently, Sebi divides foreign portfolio investors into three categories:
1. Category-I typically includes foreign central banks, sovereign wealth funds and government
agencies with minimal compliances
2. Category II includes banks, asset management firms and investment managers who need to
fulfil the criteria of being broad-based (more than 20 investors) at all points in time

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3. Category III typically includes hedge funds—a class of investors that has onerous compliance
requirements to meet.
• Currently, FPIs are capped at 24%, which can be taken to the sectoral foreign investment
limit (FPI+FDI) through board and shareholder approval.
3.39 RBI sets up committee for development of housing finance securitisation market
[RBI functions]
• Reserve Bank has announced that it will constitute a Committee on Development of Housing
Finance Securitisation Market , as a part of the Statement on Developmental and Regulatory
Policies issued along with the First Bimonthly Monetary Policy for the year 2019-20 on April 4,
2019
• The Committee shall submit its report by the end of August 2019.
Its Relevance
• The mortgage securitisation market in India is primarily dominated by direct assignments
among a limited set of market participants on account of various structural factors impacting
both the demand and the supply side, as well as certain prudential, legal, tax and accounting
issues
• For a vibrant securitisation market to develop, it is imperative that the market moves to a
broader issuance model with suitable structuring of the instruments for diverse investor
classes
The composition of the Committee is as under:
The Terms of Reference of the Committee are given below:

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1. To review the existing state of mortgage backed securitisation in India, including the
regulations currently in place, and to make specific recommendations on suitably aligning the
same with international norms;
2. To analyse the prevalent structures for mortgage backed securitisation transactions in India,
including legal, tax, valuation and accounting related issues, and suggest necessary
modifications to address the requirements of both originators as well as investors;
3. To identify the critical steps required for standardisation of mortgage backed securitisation
practices such as, conforming mortgages, mortgage documentation standards, digital registry
for ease of due diligence and verification by investors;
4. To assess the role of various counterparties, including the servicers, trustees, rating agencies,
etc. in the securitisation process and suggest measures required, if any to address the key risks,
viz., structural, fiduciary and servicer risks;
5. To recommend specific measures for facilitating secondary market trading in mortgage
securitisation instruments, such as broadening investor base, and strengthening market
infrastructure;
6. To analyse the inter-linkages between securitisation and other related financial market
segments/instruments and recommend necessary policy interventions to leverage these inter-
linkages; and,
7. To identify any other issue germane to the subject matter and make recommendations
thereon.
3.40 RBI extends relaxed norms for NBFC loan securitisation till December 31
[RBI functions ]
• RBI has extended minimum holding period requirement for NBFCs to raise funds via loan
securitisation to help the sector overcome liquidity shortage.
• Non-banking financial companies (NBFCs) have been permitted to securitise loans of over
five-year maturity after holding them for six months on their books.
• Earlier, they were supposed to hold it for at least a year.
• As per the earlier notification issued by the Reserve Bank of India in November, the
dispensation was valid till May 2019.
• On a review, it has been decided to extend the dispensation provided therein till December
31, 2019
Its Relevance

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• The relaxation in minimum holding period (MHP) criteria will primarily benefit housing finance
companies and NBFCs, offering mortgage loans where the tenure is typically more than five
years.
• Accordingly, these entities can raise more funds through the securitisation route, which will
provide them with additional liquidity.
3.41 P-notes investments rise 3.98% from last month to ₹81,220 crore till April end
• Investments in the domestic capital market through participatory notes have risen to ₹81,220
crore at the end of April on hopes of favourable market conditions
• The total value of P-note investment in domestic capital markets -- equity, debt and
derivatives - stood at ₹81,220 crore till April 2019
• There is a rise of 3.98% in the total value of P-notes investment from the previous month
when the total investment stood at₹78,110 crore.
What are P-notes?

• Participatory notes (P-notes) are issued by registered foreign portfolio investors (FPIs) to
overseas investors who wish to be a part of the Indian stock market without registering
themselves directly after going through a due diligence process.
3.42 Government makes it easier for startups to claim three-year tax holiday
[Tax]
• Startups will now find it easier to claim a three-year tax holiday meant to promote innovation
and job creation with the government changing the rules for seeking this benefit
• The benefit under section 80IAC allows startups with up to ₹25 crore in sales to deduct their
entire income from eligible operations while calculating taxable income.
• This benefit is available for startups incorporated within five years starting April 2016.
• The tax sop under section 80 IAC is meant for businesses, whether a company or a limited
liability partnership, which is engaged in "innovation, development or improvement of
products or processes or services or a scalable business model with a high potential of
employment generation or wealth creation," as per the Income Tax Act.
• These entities need a certification from the inter-ministerial board to avail of the facility, which
has now been eased.

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Background
• In February, the government eased rules for granting relief to startups facing tax demands for
selling shares at a premium to their fair market value
• It also expanded eligibility of companies that could benefit from the move. The relief from the
so-called angel tax was also extended to all eligible startups retrospectively, with the
government deciding not to pursue such cases until their appeals were disposed off
3.43 New RTGS rules to be in affect from June 1st, 2019

[Banking system in India]
• The Reserve Bank of India (RBI) has announced that the time window for Real Time Gross
Settlement (RTGS) system will be extended by one-and-a-half hour for bank customers
• Under RTGS, there is a continuous and real-time settlement of fund transfers, individually on
a transaction by transaction basis
New Rules :
1. Previously the timing for any RTGS transaction was till 4:30 pm. Now it has been extended to
6 pm. The final cut-off for inter-bank transactions will be 7:45 pm.
2. The new RTGS timings will be applicable from 1 June 2019
3. The time-varying charges for transactions in RTGS from 1 pm to 6 pm shall be ₹5 per outward
transaction.
4. Transactions from 8 am to 11 am will have no charges. From 11 am to 1 pm the charges will
be ₹2 while after 6 pm the transaction charges will be ₹10.
5. The RTGS system is primarily meant for high-value transactions. The minimum amount to
be remitted through RTGS is ₹2 lakh with no maximum limit.
3.44 RBI allows modern currency chests to hike service charges

[RBI Functions , Banking system in India]
• The Reserve Bank of India has passed a circular and has stated that it will allow large modern
currency chests to increase the service charges on cash deposited by non-chest bank
branches
• This increase is from the existing rate of ₹5 per packet of 100 pieces to a higher rate subject
to a maximum of ₹8 per packet
• According to RBI ,For this, only a currency chest (CC) that fulfils the minimum standards will
be eligible to be classified as a large modern CC
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3.45 SEBI tightens disclosure norms for listed debt securities
• Securities and Exchange Board of India (SEBI) has tightened the disclosure norms for entities
that have issued listed debt securities in order to safeguard the interest of investors
• SEBI with its new circular , has made it mandatory for such companies to disclose on their
websites the schedule of interest and redemption obligations for the complete financial
year.
New circular of RBI

• Debenture Trustees shall display on their website the details of interest/ redemption due to
the debenture holders in respect of all issues during a financial year within 5 working days of
start of financial year
• DTs shall also update the status of payment against such issuers not later than 1 day from
the due date
• In case the payment is made with a delay by the issuer, DTs shall update the calendar
specifying the date of such payment, with a remark ‘delayed payment
• For privately-placed debt securities, SEBI has made it mandatory for the inclusion of a clause
stating that at least 2% per annum interest would be paid over the coupon rate in case of a
default in meeting the payment obligations
• The additional interest would be payable by the company for the tenure of the defaulting
period.
Its Relevance
• This is aimed so that any default or delay will be disclosed within a day of the due date.
• According to the SEBI, the enhanced disclosure norms have been issued to “further secure the
interests of investors in listed debt securities, enhance transparency and to enable
Debenture Trustees (DTs) to perform their duties effectively and promptly.

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Comprehensive CURRENT AFFAIRS for

1|P a g e W WW. E D U T AP . CO . I N QUERY? HELLO@EDUTAP.CO.IN /8146207241

Let us look at RBI Gr B first:

Phase 1 – GA Phase 2 – ESI Phase 2 – FM

Now let us take a look at NABARD Gr A and B examination:

Phase 1 – GA Phase 1 - ESI Phase 1- ARD Phase 2 – ESI

Why this division?

2|P a g e W WW. E D U T AP . CO . I N QUERY? HELLO@EDUTAP.CO.IN /8146207241

E) None of the above

Let us take another example.

E) None of the above

Let us take one last example:

In which of the following years was e-NAM launched?

3|P a g e W WW. E D U T AP . CO . I N QUERY? HELLO@EDUTAP.CO.IN /8146207241

C) Utpal Kumar Ganguly

E) None of the above

E) None of the above

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How to read this document for Phase 1?

How to read this document for Phase 2?

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3 GA + Finance in news ................................................................................................................................... 96

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• The exercise will be conducted in two phases

1.2 ICAT to host Nugen Mobility Summit in November 2019

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1.4 India to mark its presence at Venice Biennale

1.5 BHEL signs MoU with ARAI for e-mobility projects

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1.8 Life-Sized Stucco Sculpture Unearthed in Telangana

1.9 UN designates JeM chief Masood Azhar as global terrorist

1.10 Fani to make a landfall on Odisha and Andhra Pradesh

1.11 Himachal Pradesh clinches junior girls’ title

17 | P a g e W W W . E D U T A P . C O . I N QUERY? HELLO@EDUTAP.CO.IN /8146207241

1.14 14th edition of Sino-Indian border trade opens at Nathu La , Sikkim

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1.18 Massive Afghanistan peace summit ends in Kabul

1.19 Kumar Sangakkara to become first non-British president of MCC

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1.21 World Press Freedom Day : May 3

1.22 Dilip Kumar appointed as Officer on Special Duty in office of Lokpal

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1.26 Article on Coalgate wins ACJ Award for Investigative Journalism

1.27 Barcelona legend Xavi Hernandez announces retirement

1.28 Karnataka limits weight of schoolbags

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1.31 Coronation begins for King Maha Vajiralongkorn of Thailand

1.32 IIT Kanpur identifies novel molecule to control hyper inflammation

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1.35 Asian Squash championship: Ghosal and Joshna script history

1.36 Launch of Fourth Scorpene Class Submarine – VELA

1.37 ‘Zero Pendency Courts Project’ launched by Delhi High Court

1.38 Microsoft unveils its own Blockchain-based service

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1.40 May 7 :BRO celebrates 59th Raising Day