Daily Current Affairs - 09th Jul 2019

Bangladesh Army to get Tata Hexa SUVs

  • Tata Motors has won an order to supply over 200 units of the Tata Hexa four-wheel drive SUVs to Bangladesh Army for an unspecified amount. The vehicle had met all the requirements and specifications of the Bangladesh Army.
  • Tata Motors has been selling passenger vehicles in Bangladesh since 2012. It is currently amongst the top two best-selling passenger vehicle brands in Bangladesh with the Tata Indigo, Tata Tiago and Tata Nexon in its portfolio of offerings.

BPSL default: PNB shares tank 11%

  • Shares of Punjab National Bank on Monday tanked 11% after the bank detected a fraud of over Rs.3,800 crore by Bhushan Power & Steel Ltd. (BPSL). The scrip plummeted 10.95% to close at Rs.72.80 on the BSE. During the day, it plunged 11.31% to Rs.72.50.
  • PNB said BPSL misappropriated bank funds and manipulated its books of accounts to raise funds from consortium lender banks.

Brazil beats Peru in the final to lift the Copa America 2019 title

  • Brazil have defeated Peru 3-1 to win their first Copa America title since 2007. Everton led the team to victory, scoring a goal and setting up another to give Brazil their ninth Copa América trophy, and fifth at home.
  • Everton was named player of the final and also finished as one of the tournament's top scorers with three goals. Brazil's veteran right-back Dani Alves was player of the tournament.

BSF launches operation ‘Sudarshan’ to fortify Pakistan border in Punjab and Jammu

  • The Border Security Force (BSF) has launched a massive exercise, code named ‘Sudarshan’, to fortify the ‘anti-infiltration grid’ along the Pakistan border in Punjab and Jammu.
  • The exercise will see the entire BSF’s senior field brass, thousands of troops and machinery being deployed in these forward areas.
  • The operation was launched on July 1 and will cover the entire over the 1,000-km length of the India-Pakistan International Border. While Jammu shares about 485-km of the border with Pakistan, about 553-km of the front is in Punjab. It further runs down towards Rajasthan and Gujarat on India’s western flank.

Carlsen Wins Croatia Grand Chess Tour

  • Magnus Carlsen has won the 2019 Croatia Grand Chess Tour title with eight points, while Wesley So finished second with seven points. Viswanathan Anand ended up with 4.5 points and finished 11th.
  • Carlsen won his eighth straight tournament and earned $90,000 as well as 20 GCT points. He scored a 2943 performance and returned to his highest rating of 2882.

Conservative leader Mitsotakis takes oath as Greece PM

  • Kyriakos Mitsotakis, leader of Greece's conservative New Democracy party, was sworn in as Greece's new prime minister after winning Sunday's national snap elections. Greece's conservative New Democracy (ND) party garnered 39.85 percent of votes with 158 seats in the 300-member assembly.
  • SYRIZA, the Coalition of the Radical Left of Tsipras, secured 31.53 percent of votes and 86 seats.

DNA Technology Regulation Bill Introduced in Lok Sabha; Envisages Data Bank For Criminals

  • The DNA Technology Regulation Bill, which seeks to control the use of DNA technology for establishing the identity of a person, has been introduced in Lok Sabha amid questions being raised by opposition parties on its provisions.
  • The bill envisages that every data bank will maintain indices like the crime scene index, suspects' or undertrials' index, offenders' index, missing persons' index and unknown deceased persons' index. The legislation also seeks to establish a DNA Regulatory Board.
  • Under the bill, a written consent by individuals is required to collect DNA samples from them. Consent is not required for offences with punishment of more than seven years of imprisonment or death.

India strongly protests UN report alleging human rights violations in J&K

  • India has reacted strongly to and lodged a diplomatic protest over a new report by the UN Office of the High Commission for Human Rights on Jammu and Kashmir. The Indian government has called the report false, with a motivated narrative.
  • The report, a follow up to one the UN rights office filed last year, once again very controversially called on India to respect the right of self-determination of the people of Kashmir as protected under international law
  • The Ministry of External Affairs accused the UN High Commissioner for Human Rights of legitimising terrorism and said the assertions in the report are in violation of India's sovereignty and territorial integrity and ignore the core issue of cross-border terrorism.

India to take on New Zealand in first Semi final of ICC World Cup

  • Two-time champions India will face New Zealand in the first semifinal at the Old Trafford in Manchester. New Zealand, who only qualified for the semi-finals in fourth place on the basis of net run-rate, have lost their last three games -- against Pakistan, holders Australia and England.
  • The second semifinal will be played between England and Australia at Birmingham on Thursday and final on Sunday in London.

India’s K.S. Raghunandan clinched a silver medal at the Asian Junior Chess Championship

  • International Master Raghunandan has clinched the Silver medal in classical and Bronze Medal in rapid format in the Asian Junior Chess Championship 2019 held at Solo, Indonesia from July 2 to July 8. He was the 4th seed with an ELO rating of 2441.

Mutual Funds suffer nearly Rs 1.60 lakh crore outflow in June, shows AMFI data

  • According to the data by the Association of Mutual Fund of India (AMFI), investors have pulled out Rs 1.60 lakh crore on a net basis from mutual fund schemes in June against a net investment of Rs 76,989 crore in May mainly due to persisting weak confidence in debt-oriented plans.
  • In recent months, the mutual fund industry has been grappling with redemption pressure in the wake of debt crises at various groups, including IL&FS, Essel and DHFL.
  • The debt segment saw the largest outflow of Rs 1,71,349 crore as compared to Rs 70,119 crore inflow witnessed in May'19, as investors' confidence was dented after a series of defaults/delays by some popular names.

Ramkumar wins doubles title

  • Ramkumar Ramanathan in partnership with Goncalo Oliveira of Portugal won the doubles title in the € 46,600 Challenger in Recanati, Italy, by beating the second seeds Andrea Vavassori of Italy and David Vega Hernandez of Spain in the final. This title fetched him 80 ATP points and €2,670.
  • It was the second Challenger doubles title for Ramkumar, who had won one last year in the Pune Challenger with compatriot Vijay Sundar Prashanth.

RBI board finalises ‘Utkarsh 2022’

  • The Reserve Bank of India (RBI) board has finalised a three- year roadmap to improve regulation and supervision, among other functions of the central bank. This medium term strategy — named Utkarsh 2022 is in line with the global central banks’ plan to strengthen the regulatory and supervisory mechanism.
  • For this an internal committee was formed, which was anchored by outgoing Deputy Governor Viral Acharya, to identify issues that needed to be addressed over the next three years. While around a dozen areas were identified by the committee, some board members felt that areas could be filtered and lesser number of areas can be identified for implementation in the next three years.

SEBI gets teeth to probe new-age cases

  • The Finance Bill, 2019 has given the Securities and Exchange Board of India (SEBI) new powers to act against entities that tamper or destroy electronic databases or fail to furnish information when sought by the capital markets regulator, SEBI, who can now also impose penalties of up to Rs.1 crore on brokers for certain violations.
  • As per the Finance Bill, a new section — 15HAA — has been inserted in the SEBI Act that says if a person tampers with information to obstruct or influence an investigation, destroys regulatory data or tries to access data in an unauthorised manner then the entity could be penalised up to Rs.10 crore or three times the unlawful gains, whichever is higher.
  • The Centre has also explicitly allowed the regulator to impose a fine of up to Rs.1 crore on brokers if they fail to issue a contract note to clients in the format as laid down by the exchanges. Earlier, only the lower limit of Rs.1 lakh was prescribed.
  • These new powers assume significance as the regulator is in the midst of probing the leak of sensitive data through WhatsApp and also recently passed fresh orders on the National Stock Exchange (NSE) co-location matter.

TRAI sticks to spectrum prices

  • In a setback to the operators, the Telecom Regulatory Authority of India (TRAI) has stuck to its earlier recommendation on the forthcoming spectrum auction, including on base price and valuation of spectrum to be put on sale.
  • TRAI has rejected the Department of Telecommunication’s (DoT) demand for lowering the reserve prices of spectrum to be auctioned later this year, and added that no one can guarantee that all airwaves put on sale will be sold.
  • Last month, the Digital Communications Commission (DCC), the highest decision making body in the DoT had asked the sectoral regulator to reconsider its recommendations to ensure competition and greater participation in auctions.

US President Trump warns Iran on Nuclear enrichment

  • US President Donald Trump has warned Iran over its imminent breach of a uranium enrichment cap. The US administration said that Iran will face further sanctions in response to the expected breach of the cap set by an endangered nuclear deal reached with international powers.
  • The United States has withdrew from the deal last year.

US slaps new duties on steel from Mexico and China

  • The United States announced fresh duties on some Mexican and Chinese steel goods on July 8 saying that those countries helped their manufacturers with unfair subsidies. The US Commerce Department found that imported steel used in construction benefited from subsidies in China, Mexico and Canada, but in the case of Canada the subsidies were negligible, so no retaliatory duties were imposed.
  • Mexican and Chinese exporters of fabricated structural steel have benefitted from subsidies ranging from 30.3 per cent to 177.43 per cent.

Wimbledon: Novak Djokovic, Roger Federer, Rafael Nadal, Kei Nishikori enter men's singles quarter-finals

  • World number one Novak Djokovic, Second-seeded Roger Federer, Rafael Nadal and Kei Nishikori have entered the Men's singles quarter-finals of Wimbledon Tennis.
  • In Women's Singles, seven-time champion Serena Williams reached the quarter-finals with a dominant display against Spain's Carla Suarez Navarro.
  • Ukraine's Elina Svitolina also moved into the last eight with a win against Petra Martic of Croatia.