Daily Current Affairs - 28th Dec 2019

All India Radio organizes National Symposium of Poets-2020

  • National Symposium of Poets - 2020 was organized by the All India Radio. This poet symposium was attended by select poets of all 22 languages recognized in the constitution. It is being held continuously every year since 1956.
  • Poets from all corners of the country gave their presentations and captivated the hearts of the people.

Allahabad Bank raises Tier 2 Capital aggregating Rs 1500 cr

  • Allahabad Bank has successfully raised Tier 2 Capital Fund through Private Placement of Basel III compliant Tier 2 Bonds aggregating to Rs 1500 crore at a coupon of 9.53% p.a. payable annually. The Tier 2 Bonds Series IV has a tenor of 10 years with Call Option after five years.
  • The issuance/placement of the Bonds has been completed by the Bank through National Stock Exchange of India, Electronic Debt Bidding Platform (NSE-EBP).

Alliance Air starts direct flight ops from Kalaburagi to Bengaluru and Mysuru under UDAN

  • Alliance Air, a wholly-owned subsidiary of Air India, has started daily direct flight operations from Kalaburagi to Bengaluru and Mysuru under the Regional Connectivity Scheme - UDAN. The development of Kalaburagi airport has paved a way for direct connectivity to Bengaluru and other commercial centers in Karnataka.
  • With the commencement of the Kalaburagi-Bangalore-Mysuru route, the Ministry of Civil Aviation has operationalized a total of 238 routes under UDAN scheme.

China successfully launches largest carrier rocket

  • China has successfully launched the largest carrier rocket of the country, Long March-5, from Wenchang Space Launch Center in south China's Hainan Province. The rocket, also known as CZ-5, blasted off with more than 1,000 tonnes of thrust.
  • The Chinese space authorities have declared the mission a "complete success" just over half an hour after the lift-off when the Shijian-20 satellite it carried entered its designated orbit. It is the country's third attempt to launch the rocket.

EU, Britain should consider extending negotiations on Brexit beyond 2020: EU Prez

  • European Commission President Ursula von der Leyen has said the European Union and Britain should consider extending the negotiations on Brexit beyond 2020. von der Leyen expressed concern over limited time for implementation of the proposed deal.
  • Britain is scheduled to leave the EU on January 31. If it does, it will be the first time a country leaves the world's biggest trading bloc.
  • Negotiations between the remaining members and the British government on future trade, fisheries, education and transport relations can only begin after that date and must conclude by the end of 2020.

Government proposes BS VI emission norms for quadricycles from April 2020

  • The Union government has proposed to make BS VI emission norms mandatory for quadricycles from April 1, 2020. The Road Transport and Highways Ministry in a draft notification has proposed amendment of Rule 115 to mandate the next level emission norms for quadricycles.
  • Currently, quadricycles are covered under Bharat Stage IV emission norms Proposed emission limits in BS VI are in line with Euro 5 mass emission guidelines which will be applicable from January 1, 2020 in Europe.

Govt to infuse Rs 4,360 crore in Indian Overseas Bank

  • State-owned Indian Overseas Bank (IOB) said the union government would infuse Rs 4,360 crore into the lender. The bank said it will get a fresh capital infusion from the government in the current financial year to meet regulatory requirements and would help the public sector bank get out of RBI's prompt corrective action (PCA) framework.
  • During the second quarter ended September 30, 2019, IOB's net loss widened to Rs 2,253.64 crore on account of rise in operating expenses as well as provisions
  • Currently, four public sector lenders, namely IOB, Central Bank of India, UCO Bank and United Bank of India, are under RBI's PCA framework, which puts several restrictions on them
  • IOB Managing Director and Chief Executive Officer Karnam Sekar

Home Ministry relaxes travel conditions for OCI cardholders

  • Overseas Citizenship of India cardholders, in certain age groups, can travel to India even if they have not re-registered it after the issuance of their new passports, as the Home Ministry has relaxed travel conditions till June 30, 2020.
  • An Overseas Citizen of India (OCI) cardholder is required to re-register each time a new passport is issued till 20 years of age and once after 50 years of age.
  • This is not mandatory in the age group of 21-50 years. The OCI card gives the cardholder lifelong visa to India.

India beat South Africa by nine wickets in the first Youth ODI

  • India under-19 team beat South Africa by nine wickets in the first Youth ODI at the Buffalo Park in East London. Batting first, South Africa Under-19 team made 187 in 48.3 overs. In reply, India dished out a solid batting display to scoring 190 for 1 in 42.3 overs.
  • With this win India have taken 1-0 lead in the 3-match series

Indian Air Force Bids farewell to MiG 27

  • The MiG-27, which proved to be an ace attacker during the 1999 Kargil War roared through the skies for one last time after serving the Indian Air Force for over three decades. The aircraft, proudly named 'Bahadur' by its pilots, has been in service for over three decades, playing crucial roles in IAF operations, most notably that of the 1999 Kargil war.

More than 1 cr houses sanctioned under PM Awas Yojana (Urban)

  • The union Government said that more than one crore houses have been sanctioned under Pradhan Mantri Awas Yojana (Urban). A total of 57 lakh houses are in various stages of construction of which, nearly 30 Lakh houses have been completed.
  • The houses sanctioned so far under the Mission involve an investment of about 5.70 lakh crore rupees with central assistance of 1.6 lakh crore rupees.
  • The Central government is contributing 1 lakh to 2.67 lakh rupees for each house under different verticals of the scheme. As on date, nearly 60,000 crore rupees of central assistance has already been released.
  • Around 1.20 crore employment has been generated through forward and backward linkages with about 250 auxiliary industries like, steel, brick kilns, cement, paint, hardware, and sanitary.

Rajnath Singh launches mobile app of forthcoming DefExpo 2020

  • Defence Minister Rajnath Singh has launched the mobile app of the forthcoming DefExpo 2020 to be held in Lucknow, Uttar Pradesh. The app provides detailed information about the day-to-day events, participating exhibitors, guest speakers of seminars, maps and directions of the venues.
  • A record number of over 880 exhibiters, including foreign companies, have registered so far. Dozens of MoUs are also expected to be inked during the Expo.

RBI directs large co-op banks to report exposures above Rs 5 cr

  • The Reserve Bank of India has directed large cooperative banks to report all exposures of Rs 5 crore and more to the Central Repository of Information on Large Credits (CRILC), a move aimed at early recognition of financial distress.
  • The Reserve Bank has created a CRILC of commercial banks, all India financial institutions and certain non-banking financial companies with multiple objectives, which, among others, include strengthening offsite supervision and early recognition of financial distress.
  • Earlier in its bi-monthly monetary policy review this month, the RBI had announced that to bring UCBs with assets of Rs 500 crore and above under the CRILC reporting framework.

RBI foresees gross NPAs rising to 9.9% by September 2020

  • The Reserve Bank of India's (RBI) macro stress tests show the gross non-performing assets (NPAs) of commercial banks to jump from 9.3 per cent in September 2019 to 9.9 per cent in the next one year. This finding is based on a baseline scenario which assumes the continuation of the current economic situation in the future.
  • This is primarily due to change in macroeconomic scenario, marginal increase in slippages and the denominator effect of declining credit growth
  • The report noted that banks’ credit growth remained subdued at 8.7 per cent year-on-year in September 2019, down from 13.2 per cent in March 2019.
  • The public sector banks, that control two-third of the banking sector in terms of deposits and advances, would see their NPAs increase to 13.2 per cent by September 2020, from 12.7 per cent in September 2019.
  • The private banks, however, may see their NPAs increase to 4.2 per cent from 3.9 per cent in the same period.
  • The foreign banks, which control less than 5 per cent of the total banking assets, will see NPAs rise to 3.1 per cent from 2.9 per cent during this one year period.
  • The RBI report says the capital adequacy ratio of 53 banks is projected to decline to 14.1 per cent by September 2020 from 14.9 per cent in September 2019.

Russia challenges WADA sanctions

  • Russia has formally contested its ban from major sporting events over doping violations. The head of its RUSADA anti-doping agency director general told reporters in Moscow that in accordance with established procedure, Russia sent a package of documents to WADA.
  • The package contains a notice about disagreement with WADA sanctions.
  • WADA this month banned Russia for four years from major global events, including the 2020 Tokyo Olympics and the 2022 World Cup in Qatar, over manipulated doping data.

Russia inducts first Avangard hypersonic missiles into service

  • Russia has inducted first Avangard hypersonic missiles into service. This missile is highly manoeuvrable and reached the speed of Mach 27, or roughly 33,000 kilometres (20,500 miles) per hour, during tests.
  • Mach 1 is a unit of measurement equivalent to the speed of sound.
  • Russia has boasted of developing several "invincible" weapons that surpass existing systems and include Sarmat intercontinental missiles and Burevestnik cruise missiles.

Virat Kohli named in Wisden cricketers of the decade list

  • Indian skipper Virat Kohli has been named in the Cricketers of the decade list alongside four others by the Wisden Cricketers' Almanac. Apart from Kohli, South African duo of Dale Steyn and AB de Villiers, Australia's Steve Smith and women's all-rounder Ellyse Perry also found a place in the list of five cricketers of the decade.
  • In the past decade Kohli has scored 7,202 runs in Tests including 27 hundreds, while in the shorter formats the Indian skipper has amassed 11,125 runs in ODIs and 2,633 runs in T20s.
  • Kohli, who averages more than 50 in all formats, has already amassed 70 international hundreds and is only behind Ricky Ponting and Sachin Tendulkar