Daily Current Affairs - 21st Sep 2019

B Sai Praneeth crashes out of Men’s Singles quarterfinals of China Open

  • B. Sai Praneeth has suffered a loss to Anthony Sinisuka Ginting in the quarterfinals at the China Open World Tour Super 1000 badminton tournament. Praneeth lost the match to his opponent by 21-16 6-21 16-21.

Bajrang Punia, Ravi Dahiya win bronze at World Championships

  • Bajrang Punia and Ravi Dahiya have won bronze at the World Wrestling Championships in Nur-Sultan, Kazakhstan. This is Bajrang's second consecutive medal at the Worlds and third overall while Dahiya has managed to win bronze in his very first appearance at the senior championships.
  • Bajrang defeated Mongolian Tulga Tumur Ochir to win in a thrilling bronze medal bout while Dahiya beat Iran's reigning Asian champion Reza to win his maiden Worlds medal.
  • Both Bajrang and Dahiya had sealed a spot at the 2020 Tokyo Olympics by qualifying for the bronze medal round.

Boxing: Amit Panghal becomes first Indian to enter World Men's C'ship finals

  • Asian Champion Amit Panghal has become the first Indian to make the finals of the World Men's Championship while Manish Kaushik signed off with a bronze medal after going down in the semifinals in Ekaterinburg, Russia.

Commercial Banks Banking on NBFCs for loan melas

  • Commercial banks will use the network of non-banking financial companies (NBFCs) to reach the last mile in extending loans through loan melas, as announced by Finance Minister Nirmala Sitharaman on Thursday.
  • The Ministry had asked the public-sector banks to hold public meetings with the borrowers for extending loans in 400 districts of the country to boost demand ahead of the festive season. Commercial banks will take help from the NBFCs who have reach in the hinterland.
  • Banks have already entered into 14 tie-ups with NBFCs for co-originating loans, with another 36 such tie-ups in the pipeline.
  • Such public gatherings to extend loans will take place in two phases, one between September 24-29 in 200 districts of the country and the next, between October 10-15 in another 200 districts.

DoNER Ministry approves more than 200 projects worth Rs 3,000 cr

  • DoNER(Development of North Eastern Region) Ministry has approved more than 200 projects worth Rs 3,000 crores in the Entire North East including ASSAM. Out of these mega projects, 110 projects worth Rs 1699 crore were sanctioned for the development of the North East states where 66 projects costing 820 crores have been completed.
  • These mega projects sanctioned by DoNER Ministry includes construction of double-lane road from Lanka to Umrangso costing 199.50 crore

Govt cuts corporate tax rate for domestic investors

  • The Union government has cut the corporate tax from nearly 35 to about 25 per cent for domestic investors whereas the new domestic manufacturing companies will have to pay 15 per cent tax.
  • Now, the corporate tax rate for domestic companies shall be 25.17 per cent inclusive of surcharge & cess, which was earlier nearly 35 per cent. Also, such companies shall not be required to pay Minimum Alternate Tax.
  • Under the new provision a new domestic company incorporated on or after 1st October 2019 making fresh investment in manufacturing and commences their production on or before 31st March 2023, will have to pay income tax at the rate of only 15 per cent.
  • Finance Minister has also announced the government decision to expand the scope of 2 per cent CSR spending.
  • Total revenue foregone for the reduction in corporate tax rate and other relief are estimated to be at 1.45 lakh crore rupees.

GST Council rates cut in several items including hotel tariffs

  • The GST Council has slashed tax rates on several items, including hotel room tariffs and cut and polished semi-precious stones. The Council recommended tax rate increase in some other items.
  • No GST will be charged for hotel rooms having tariffs of upto 1,000 Rupees per night. 12 per cent GST will be levied on the hotel room from the existing 18 per cent whose tariff ranges between 1,001 to 7,500 Rupees.
  • Hotel room having tariff of 7,500 Rupees and above will be charged 18 per cent from the existing 28 per cent.
  • GST Council recommended to lower 12 per cent cess on 1,500 CC diesel and 1,200 CC petrol vehicles with capacity to carry up to 13 persons. GST council has also recommended to reduce the GST rates on slide fasteners, marine fuel, wet grinders and dried tamarind.
  • Caffeinated beverages will be charged with 28 per cent tax plus 12 per cent compensation cess in place of existing tax rate of 18 per cent. GST rates on railway wagon and coaches have been hiked from 5 per cent to 12 per cent.
  • Council has also decided to link Aadhaar with the registration of taxpayers under GST and also examined the possibility of making Aadhaar number mandatory for claiming refunds.

Hamilton Masakadza Signs Off With Match-Winning Knock For Zimbabwe

  • Zimbabwe captain Hamilton Masakadza played his last game of international cricket leading his team to a 7-wicket win over Afghanistan in the 5th match of the Bangladesh T20I Tri-nation series in Chattogram.
  • Chasing 156 to win, Masakadza top-scored with 71 runs off 42 balls - an innings which included 4 fours and 5 towering sixes. Zimbabwe's 7-wicket win also ended Afghanistan's 12-match winning streak in T20Is.
  • His Zimbabwe career, which spanned across 18 years and 55 days, also happens to be the longest career for any player from the country in international cricket.
  • Masakadza retires as the highest run-scorer for Zimbabwe with 1,662 runs to his name from 66 innings at an average of 25.96 and 11 fifties. He has also featured in 38 Tests and 209 ODIs for his country scoring 2,223 and 5,658 runs respectively with 5 half-centuries across both the formats.

India, Mongolia to explore space together

  • India and Mongolia have signed MoUs on space cooperation and disaster management that will provide a new dimension to the India-Mongolia strategic partnership. The agreements would allow India to support Mongolia in resource management and satellite communication.
  • A joint statement said the space cooperation would allow peaceful exploration of outer space and include remote sensing and weather forecasting.
  • Both sides took stock of the project to build a Cyber Security Training Centre to be established in Mongolia with Indian support.
  • India and Mongolia at present carry out regular military exercises named “Nomadic Elephant” and “Khaan Quest”.

Madhukar Kamath to head ABC

  • Madhukar Kamath, Chairman Emeritus of DDB Mudra Pvt Ltd, was unanimously elected Chairman of Audit Bureau of Circulations (ABC) for the year 2019-2020. Mr. Kamath has over four decades of experience in advertising and marketing.
  • He has also served as president of the Advertising Agencies Association of India and as the Chairperson of the Governing Council of MICA.

No need to have trade deal with China before 2020 elections: Trump

  • US President Donald Trump has said he does not feel the need to strike a trade agreement with China before the next year's presidential elections, emphasizing for a comprehensive deal with Beijing.
  • Mr. Trump said that he is looking for a complete deal and not a partial deal with China.
  • The world's two largest economies have been locked in a bruising trade war since Trump in March last year-imposed tariff hikes of up to 25 per cent on 250 billion US Dollars of Chinese goods.
  • In response, China imposed tit-for-tat tariffs on 110 billion US Dollars of American goods.

Rawat stuns Advani, makes final

  • India’s Laxman Rawat made the final of the World 6-Red championship surprising tournament favourite Pankaj Advani 5-4 in the semifinals. Rawat won 8-77, 40-2, 21-34, 24-28, 73 (73)-8, 47-14, 44-0, 27-39, 36-26.
  • He will take on Muhammad of Pakistan, who got past Thet Min Lin of Myanmar 5-4.

Restrictions lifted in nearly all areas of Kashmir Valley

  • In Jammu & Kashmir, restrictions have been lifted in nearly all areas of the Kashmir Valley following significant improvement in the security situation. The restrictions under Section 144 have been lifted from 92 police station areas out of 105 in the Valley.
  • All landline phone services are active now. Mobile phones are working in some areas. Officials said government offices and banks are functioning normally.

Rugby World Cup: Matsushima treble fires Japan to win

  • Kotaro Matsushima scored a sizzling hat-trick as hosts Japan recovered from a torrid start to beat Russia 30-10 in the Rugby World Cup opener. Japan's prolific winger became the first player to score three tries in a World Cup opening game after a brilliant solo effort with just over 10 minutes left in Tokyo.

Sensex rockets 1,921 points, biggest one-day gain in decade

  • On Friday ie September 20, equity benchmark indices posted their biggest single day gain in over a decade after the union government announced a slew of measures, including slashing corporate tax rates and providing fresh incentives for capital market investors.
  • The benchmark Sensex gained a whopping 2,284 points during intra day trades, before closing at 38,014.62, up 1,921.15 points or 5.32% — the second-highest single-day gain ever after May 18, 2009, when it rose 2,110.79 points.
  • The broader Nifty also registered its second-highest gain while closing at 11,274.20, up 569.40 points or 5.32%. The Nifty Bank index gained a massive 2,224 points while those representing fast moving consumer goods and private banks also gained over 1,000 points each.

Shah holds North Zonal Council meet

  • The 29th Northern Zonal Council meeting saw member States deliberating on issues such as drug addiction, water sharing, rehabilitation of dam oustees and hurdles post the implementation of the Goods and Services Tax.
  • Union Home Minister Amit Shah, who presided over the meeting, said that decisions taken by consensus would strengthen the federal structure of the country.
  • Mr. Shah urged the CMs of States to ensure regular monitoring for investigation and prosecution of cases related to narcotics, POCSO Act and murders.

Table Tennis: Sathiyan becomes second Indian to enter Asian quarters

  • G.Sathiyan has become only the second Indian to reach the men's singles quarterfinals at the Asian Championships in Yogyakarta, Indonesia. Sathiyan, currently the top-ranked Indian in the world has notched up a 11-7, 11-8, 11-6 win against his North Korean opponent An-Ji Song in the pre-quarterfinal match that lasted 22 minutes.
  • He will take on world number 4 Chinese Lin Gaoyuan in the quarterfinals.

Tens of thousands join massive global climate protests ahead of UN summit

  • Tens of thousands of protesters joined rallies as a day of worldwide demonstrations calling for action against climate change began ahead of a United Nations Summit in New York. Some of the first rallies in what is being billed as a global climate strike were held in Australia's largest city, Sydney and the national capital, Canberra.
  • More than three lakh Australian demonstrators called for their nation to take more drastic action to reduce greenhouse gas emissions.
  • In the United States, more than 800 events were planned, while in Germany more than 400 rallies were expected.
  • Australia is the world's largest exporter of coal and liquid natural gas.

Transport Ministry issues SOP for transport-related information presented in e-form

  • Ministry of Road Transport and Highways has issued detailed Standard Operating Procedure-SOP for acceptance of Driving License, Registration Certificate and other transport related information presented in electronic form.
  • According to the amended Central Motor Vehicles Rules, carrying hard copy of relevant documents is not necessary now as they can be carried in electronic form. However, it is necessary that they are available on DigiLocker or mParivahan app to be legally recognized at par with the original documents.

Tunisia's ousted ex-president Ben Ali dies in exile aged 83

  • Tunisia's former President Zine el-Abidine Ben Ali has died in exile aged 83. Ben Ali led the country for 23 years and was credited with delivering stability and some economic prosperity. But he received widespread criticism for suppressing political freedoms and for widespread corruption.
  • In 2011, he was forced from office following mass street protests. This triggered a wave of similar uprisings across the Arab world.
  • Ben Ali fled to Saudi Arabia when he left office.
  • At least half a dozen countries in the region saw their president fall or conflicts break out in the wake of the former Tunisian leader's downfall, in what became known as the Arab Spring.

US Prez Trump approves deployment of US forces to Saudi Arabia, UAE

  • US President Donald Trump has approved the deployment of US forces to Saudi Arabia and UAE in the wake of attacks on the Saudi oil infrastructure. The deployment would be defensive in nature with focus on air and missile defence.
  • Meanwhile, Yemen's Houthi rebels have decided to stop all attacks on Saudi Arabia as part of a peace initiative to end their country's devastating conflict.