Daily Current Affairs - 08th Feb 2019

2nd Joint secretary level meeting to review India-Nepal trade treaty begins

  • The second joint secretary level meeting to review the India-Nepal Trade Treaty begun in Pokhara, Nepal. The Indian delegation is headed by Bhupinder Singh Bhalla, Joint Secretary (South Asia), Department of Commerce, while Ravi Shankar Saiju, Joint Secretary, Ministry of Industry, Commerce and Supplies is leading the Nepalese side.
  • During the two-day meeting, India will respond to Nepal’s proposal of updating treaty submitted in the first meeting held in August last year. Both sides will also deliberate upon various bilateral trade issues including ways to reduce Nepal’s trade deficit with India.

5th India-Bangladesh joint consultative committee meet held in New Delhi

  • The 5th India-Bangladesh Joint Consultative Committee Meeting was held in New Delhi. External Affairs Minister Sushma Swaraj and Foreign Affairs Minister of Bangladesh Dr. A. K. Abdul Momen co-chaired the meeting. The last Joint Consultative Committee Meeting between the two countries was held in October 2017 at Dhaka.
  • It is the first high-level visit from Bangladesh since Prime Minister Sheikh Hasina’s victory in the parliamentary elections in December 2018. Dr Momen briefed the Prime Minister on recent developments in the bilateral relationship.

6th Bi-Monthly Monetary Policy Statement Released: Repo Rate Reduced to 6.25%

  • RBI has released 6th Bi-Monthly Monetary Policy Statement. On the basis of an assessment of the current and evolving macroeconomic situation at its meeting, the Monetary Policy Committee (MPC) decided to:
  • Reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.5% to 6.25% with immediate effect.
  • Consequently, the reverse repo rate under the LAF stands adjusted to 6.0%, and the marginal standing facility (MSF) rate and the Bank Rate to 6.5%.
  • On the supply side, the FAE has placed the growth of real gross value added (GVA) at 7.0% in 2018-19 as compared with 6.9% in 2017-18.
  • The MPC also decided to change the monetary policy stance from calibrated tightening to neutral. These decisions are in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2% while supporting growth.

American members of US-India CEO Forum announced

  • US Commerce Secretary Wilbur Ross has announced the names of the American private sector members of the US-India CEO Forum among whom are MasterCard CEO Ajay Banga and Qualcomm CEO Steve Mollenkopf. The first meeting of the forum will be held in New Delhi on February 14.

Arunachal's Nyishi tribe celebrates Boori Boot Yollo festival

  • The Nyishi tribe of Arunachal Pradesh is celebrating its fortnight-long Boori Boot Yollo festival. Boori Boot Yollo is observed in the month of February every year to welcome spring and a successful harvest.

At Rs 26,961 crore, Tata Motors logs biggest quarterly loss for India Inc

  • Tata Motors reported the biggest quarterly loss among Indian corporates after it was hit by asset impairment in its UK subsidiary, Jaguar Land Rover (JLR) Automotive in the December quarter.
  • The non-cash loss of Rs 26,961 crore, the largest in the company’s history in absolute terms, was on account of uncertainties around Brexit, slowing sales in China, and technological disruptions facing JLR.

Chennai Police launches Mobile App ‘Digicop’

  • Actor Vijay Sethupathi launched the mobile App ‘DigiCop’ of the Chennai police department at the Commissioner’s office. Using the App, people can track the status of stolen two-wheelers and cell phones.
  • The details of 18,000 stolen mobile phones are stored in the App. Using DigiCop App, people can verify IMEI, report lost two-wheelers and phones, know the nearest police station, police news, and traffic alerts.

CM Pema Khandu flags off Arunachal leg of Startup India Yatra

  • Arunachal Pradesh Chief Minister Pema Khandu flagged off the Arunachal leg of the Startup India Yatra from civil secretariat in Itanagar.
  • The Startup Yatra van will travel across the state with two Boot camps and 4 van stops to provide a platform to entrepreneurs at grassroots to pitch their ideas.
  • Chief Minister hoped that the yatra would go a long way in motivating the youths to take up self-employment activities to help in creating jobs.

Dinkar Gupta takes over charge of DGP Punjab

  • Dinkar Gupta has taken over the charge of Director General of the Punjab Police. He took over the charge as DGP from Suresh Arora at a simple ceremony at the Punjab Police headquarters at Chandigarh.

Fino payments Bank partners with Suryoday SFB to offer Sweep Account Facility

  • Fino Payments Bank (FPB) has announced the launch of a sweep account facility in association with Suryoday Small Finance Bank (SSFB). This partnership will help FPB address the issue of deposit limits that all the payment banks face at the moment.
  • As per the Reserve Bank of India (RBI), payment banks can only take deposits upto Rs1 lakh per account. However, the partnership would allow customers to seamlessly transfer the excess amount from their account in FPB to SSFB (partner bank) account.

India defeated Thailand in Federation Cup Tennis tournament in Astana

  • India defeated Thailand 2 - 1 in the world play off Asia Oceania group one of Federation Cup Tennis tournament in Astana.
  • In the first singles Karman Kaur Thandi faced defeat however Ankita Raina brought India to level.

Indian Coast Guard Signs MoU with AAI for maritime search and rescue

  • Indian Coast Guard and the Airport Authority of India (AAI) signed a Memorandum of Understanding at Coast Guard Regional Headquarters in Port Blair in the presence of Inspector General Maneesh Vishal Pathak, Commander Coast Guard Region (Andaman and Nicobar Islands) for coordination in the aeronautical and maritime search and rescue operations.
  • The MoU with AAI) is aimed at strengthening mutual interactions, interoperability and validating procedures during conduct of search and rescue operations jointly by the Rescue Coordination Centre (RCC) Kolkata, Airport Authority of India (AAI) and Maritime Rescue Coordination Centre (MRCC) in Port Blair, the PRO of Indian Coast Guard said in a press release.

Mirabai Chanu notched up gold at EGAT cup in Thailand

  • World champion Indian weightlifter Saikhom Mirabai Chanu notched up a gold medal at the EGAT Cup in Thailand. Chanu won the 48kg category gold with an effort of 192 kg in the silver level Olympic qualifying event.
  • Making a strong comeback from the lower back injury that kept her out of action for nearly nine months, the 24-year-old Manipuri lifted 82 kg in snatch and 110 kg in clean and jerk to finish on top of the podium.

Vidharbha lift Ranji Trophy for second time in a row

  • Vidharbha lifted the Ranji Trophy for the second time in a row, defeating Saurashtra by 78 runs at Nagpur.
  • Requiring five wickets to defend their title, the home team bundled out the visitors for 127 with more than two sessions to spare at the VCA stadium of Nagpur.

‘Darwaza Band Part 2’ campaign launched by Swatch Bharat Mission Grameen

  • ‘Darwaza Band- Part 2’ campaign launched by Swachh Bharat Mission Grameenfocuses on sustaining the open defecation free status of villages across the country. Earlier Darwaza Band campaign was launched in 2017. The campaign launched by the Ministry of Drinking Water and Sanitation in Mumbai in the presence of actor Amitabh Bachchan.