Current Affairs Daily Digest – April 18 2019

Current Affairs Daily Digest – April 18 2019

1. Home Expo India 2019 begins

The 8th edition of Home Expo India 2019 began at India Expo Centre and Mart in Greater Noida .

It covers sectors with maximum thrust and growth potential in home decor, furnishing, furniture, flooring and textiles. About 500 companies in permanent marts will be exhibiting their collection under these categories. The three-day exhibition has been organized by the Export Promotion Council for Handicrafts.

Textile Ministry in a release said, handicrafts exports during the year 2018-19 was to the tune of 26 thousand 590 crore rupees registering a growth of 15.46 per cent over the previous year.

2. Dismay as Trump vetoes bill to end US support for war in Yemen

Donald Trump has vetoed a bill passed by Congress to end US military assistance in Saudi Arabia’s war in Yemen.

The Senate had passed a bipartisan resolution on 13 March in a 54-to-46 vote, in a move that was largely seen as a rebuke of Trump’s alliance with the Saudi forces leading military action in Yemen. The House voted on the resolution in early April, passing it with 247 votes to 175.

3. India men’s hockey team to join FIH Pro League from 2020

Indian men’s hockey team would join the elite Pro League in early 2020 after International Hockey Federation’s approval recently. The Pro League replaced the Men’s FIH Hockey World League since 2019

4. RBI puts into circulation Rs 50 banknotes signed by Governor Shaktikanta Das

The Reserve Bank of India has put into circulation 50 rupees denomination banknotes signed by its Governor Shaktikanta Das. The RBI in Mumbai said the design of these notes is similar in all respects to 50 banknotes in Mahatma Gandhi new series.

It said that all banknotes in the denomination of 50 issued by the Reserve Bank in the past will continue to be legal tender.

5. International Hockey Federation imposes fine on Pakistan

The International Hockey Federation (FIH) has imposed a hefty fine of one lakh seventy-six thousand Euros on Pakistan Hockey Federation (PHF) for not honouring the Pro League commitments.

The FIH has given the Pakistan sports body time until 20th June to pay the fine or else the penalty would be doubled.

6. Kim Jong Un to visit Russia, meet Vladimir Putin

North Korean leader Kim Jong Un will visit Russia later this month for his first meeting with President Vladimir Putin.

The announcement comes after North Korea announced it had tested a new tactical weapon with a powerful warhead, as denuclearisation talks with Washington appear to stall.

The last summit between a Russian and North Korean head of state came in 2011, when Kim’s father Kim Jong Il travelled to Siberia to meet Dmitry Medvedev, then Russia’s President.

7. Pakistan’s Finance Minister Asad Umar quits ahead of IMF aid

Pakistan’s Finance Minister Asad Umar abruptly quit the Cabinet before securing a multi-billion dollar International Monetary Fund bailout package for the cash-strapped country.

Umar recently returned from a trip to the US in which the details of Pakistan’s next IMF bailout were finalised. Imran Khan-led government and Umar, in particular, have faced mounting criticism by Opposition parties, members of the business community and citizens over the handling of the economic crisis.

8. Nepal successfully launches its 1st satellite NepaliSat-1 into space

Nepal successfully launched its first satellite NepaliSat-1 into space from Virginia in the United States. The satellite was developed by the Nepalese scientists.

NepaliSat-1 is a low orbit satellite . It will be stationed at the International Space Station for a month and then it will be sent to orbit the earth. The satellite will take photographs on a regular basis to gather geographical information of the country. It weighs 1.3 kilograms, making it a small satellite with limited capability.

9. IT authorities seizes Rs 1.48 Cr unaccounted cash from premises of AMMK party functionary at Andipatti in TN

In Tamil Nadu, Income Tax authorities have seized 1.48 crore rupees unaccounted cash from the premises of Mr TTV Dinakaran-led AMMK party functionary at Andipatti.

The AMMK is contesting from the Andipatti Assembly segment under the Theni Lok Sabha constituency which goes for by polls along with the Lok Sabha polls tomorrow.

10. Bandhan Bank gets CCI nod for merger with Gruh Finance

Bandhan Bank has received approval from the Competition Commission of India (CCI) for the proposed scheme of amalgamation of Gruh Finance with the bank.

Bandhan Bank said: “The CCI has by way of its letter dated April 15, 2019, intimated that CCI, at its meeting held on April 15, 2019, considered the proposed combination and approved the same under sub-section (1) of Section 31 of the Competition Act, 2002.”

11. ETMONEY becomes India’s first comprehensive financial services app to integrate UPI

India’s largest app for financial services, ETMONEY announced that it has integrated Unified Payment Interface (UPI) as a payment method on its platform as it looks to double its monthly user base by the end of the year. The integration of UPI will simplify the mutual fund payment experience for millions of ETMONEY users as the company continues its journey to simplify the financial lives of new age Indians.

Bandhan Bank had, in January, announced the merger of Gruh Finance with it. The move was taken to bring down promoter holding in the bank to 61 per cent from 82.3 per cent.

12. BoM partners with M1Xchange for MSME bill discounting

State-owned Bank of Maharashtra (BoM) has partnered with M1Xchange TReDS platform for MSME bill discounting.

Trade Receivables Discounting System (TReDS) is a digital platform to support micro, small and medium enterprises (MSMEs) to get their bills financed at a competitive rate through an auction where multiple registered financiers can participate.

In addition to TReDS platform of Receivables Exchange of India Ltd (RXIL) & Invoicemart (A.TREDS Ltd), the bank has now on-boarded as financier on the TReDS platform of M1Xchange of Mynd Solutions, BoM said in a statement.

13. CRISIL board gives nod for transfer of ratings business to new subsidiary

CRISIL Ltd, a diversified global analytics company, will transfer its ratings business to its proposed new wholly-owned subsidiary.

The board of CRISIL, gave the nod for the transfer, which is being done to comply with SEBI norms of last year. CRISIL proposes to undertake the transfer of its ratings business through a scheme of arrangement in terms of Section 230 to 232 of the Companies Act, 2013, to be approved by the stock exchanges and the National Company Law Tribunal.

14. DHA appoints Gursimran Singh as Vice President

Gursimran Singh has been appointed Vice President of the Delhi Hockey Association (DHA)..

Singh, whose appointment was announced in the presence of DHA General Secretary Mahesh Dayal, is a National-level hockey player.
Gursimran Singh represented the CBSE national team in 2011 and participated in the National School Games in 2012.

In 2013, Singh played in the Hockey India Junior National Championship as one of the youngest players in the tournament, and in 2017, he represented India in the 44 Pesta Indoor Hockey Tournament in Malaysia.

15. OYO launches initiative for asset owners’ growth

OYO Hotels & Homes launched the Open Partner Engagement Network (OPEN), an initiative for a year, to help its asset-owner partners in the country in growing their businesses.

“OYO Hotels & Homes has announced the launch of ‘OPEN’ to reiterate its commitment to asset owner’s success and start an industry-first series of year-long initiatives to help its ‘8,700+’ asset owner partners in India reach their business goals.
Under the initiative, the hospitality company announced a set of six promises, including “transparent payment protocols” whereby “asset owners would receive 18 per cent interest (from OYO) on delayed payments and resolution for exceptions will be done before the due date”.

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