Current Affairs Daily Digest – April 20 2019
1. Reliance Retail Q4 pre-tax profit up 77% at Rs 1,923 crore
Reliance Retail reported a 77.07 per cent increase in its pre-tax profit to Rs 1,923 crore for the January-March quarter 2019. Comparatively, Reliance Retail had registered a profit before depreciation, interest and tax of Rs 1,086 crore in the same period a year ago.
Its fourth quarter revenue saw 51.60 per cent rise at Rs 36,663 crore as against Rs 24,183 crore in the corresponding period of the last fiscal.
For the fiscal 2018-19, Reliance Retail the retail arm of RIL reported a revenue of Rs 1.30 lakh crore, an 88.68 per cent growth, the highest by any retailer in India. It had a revenue of Rs Rs 69,198 crore in FY 2017-18.
2. Airtel Payments Bank ties up with Bharti AXA for two wheeler insurance
Airtel Payments Bank has tied up with Bharti AXA General Insurance to offer two-wheeler insurance to its customers across India. This insurance will be available on My Airtel app and at over 40,000 Airtel Payments Bank — banking points, with presence even in rural India.
3. DMRC on track to be world’s first 100% solar-powered metro
Delhi Metro is now a step closer to powering all its operations with solar energy.
The Delhi Metro Rail Corporation (DMRC) started receiving solar power from Madhya Pradesh’s Rewa Solar Power Project, kick-starting an initiative to be the world’s first 100% green energy rail network.
The DMRC said the Metro received 27 megawatts (MW) power from the MP-based project and will gradually increase it to 99 MW. “The power received from Rewa will be utilised for the operational as well as auxiliary requirement of Delhi Metro.
4. NASA Astronaut Christina Koch to Set Longest Spaceflight Record by a Woman
NASA astronaut Christina Koch is set to spend the longest duration in space by a woman, surpassing the previous record of 288 days in spaceflight by astronaut Peggy Whitson. The move comes after recent changes in NASA’s change in schedule for astronomers.
Koch, on behalf of NASA, will help determine the effects of long duration spaceflight on the human body, i.e., missions which extend beyond six months. This will seemingly help expand the science of astronomy beyond present standards, and help us prepare for long duration, manned space missions to the moon, Mars and beyond.
5. Bank of Baroda join hands with Srei Equipment Finance
Second largest state-run lender Bank of Baroda and non-bank lender Srei Equipment Finance announced a co-lending for infrastructure equipment finance. Iquippo, a non profit started by Srei’s promoters, will facilitate sourcing of loans, an official statement said.
The CSR platform has helped disburse USD 400 million in loans to 70,000 customers till now.
6. Indiabulls General Insurance gets preliminary nod from Irdai
Indiabulls General Insurance, a subsidiary of Indiabulls Integrated Services said it has received preliminary approval from regulator Irdai to foray into non-life business.
In January, another subsidiary Indiabulls Life Insurance Company had received R1 approval from Insurance Regulatory and Development Authority of India (Irdai).
The company is in the process of putting in place the necessary systems and move ahead with the next step of filing its application for registration (R2) with Irdai to undertake general insurance business in India, it said.
7. Deutsche Bank appoints Kaushik Shaparia as new India head
Deutsche Bank AG has appointed Kaushik Shaparia as the chief country officer for India after its former head Ravneet Singh Gill joined Yes Bank last month. Shaparia currently serves as the Asia Pacific Head of Trade Finance & Cash Management for Corporates for Regional Operations at Deutsche Bank (China) Co., Ltd. Having been with DB for over 30 years, he is known to have contributed to the building of DB’s transaction banking business in India. Shaparia will take charge as the India head with effect from May 2019.
Separately, DB has also announced the appointment of Sanjay Agarwal as the executive chairman of client coverage for India in addition to his role as head of corporate finance. With over 30 years of banking experience, Agarwal has worked with many large Indian clients.
8. Exim Bank funds projects worth USD 267 mn in Rawanda
The Reserve Bank of India (RBI) said Exim Bank has provided soft loans of USD 266.60 million to Rawanda for various projects. The funding, done in three separate tranches to Rawanda, is to support agricultural projects, development of special economic zones (SEZs) and for financing road project in the African nation.
According to the agreements, Exim Bank will provide USD 100 million for financing the development of two SEZs and expansion of the Kigali SEZ in Rwanda; USD 100 million for financing three agriculture project schemes — Warufu Multipurpose Project, Mugesera Irrigation Project and Nyamukana Irrigation Project.
While USD 66.60 million will be funded for the Base-Butaro-Kidaho Road Project.
9. Scotland all-rounder Con de Lange dies at 38
Scotland all-rounder, Con de Lange, who had been diagnosed with a brain tumour, died at the age of 38. South Africa-born played 21 internationals for Scotland, made his debut in T20 international in June 2015 against Ireland.
In June 2017, De Lange achieved his career best figure 5-60 against Zimbabwe which handed Scotland their first one-day international victory against a Full Member.
10. Book on Jallianwala Bagh poem Khooni Vaisakhi released in UAE
India’s Ambassador to the UAE Navdeep Singh Suri has commended the launch of a book containing english translation of the Punjabi poem, Khooni Vaisakhi, saying the100-year old classic ballad about the Jallianwala Bagh massacre is now reaching a global audience.
The poem was translated by Suri whose grandfather revolutionary poet and novelist Nanak Singh, a Jallianwala Bagh survivor, wrote it after witnessing first-hand the events of April 13, 1919, when British troops fired upon crowds of protestors peacefully demonstrating against the Rowlatt Act of the British Raj, leading to the loss of well over a thousand lives.
11. Jerrie Cobb, NASA’s 1st female astronaut candidate dies
NASA’s first female astronaut candidate, pilot Jerrie Cobb, has died.
Cobb served for decades as a humanitarian aid pilot in the Amazon jungle. She emerged in 1998 to make another pitch for space, as NASA prepared to launch John Glenn on shuttle Discovery at age 77. Cobb argued unsuccessfully that the research should include an older woman.
12. Bajrang regains top spot in world wrestling rankings
India’s Bajrang Punia has regained the world number one spot in the men’s 65-kilogram freestyle category rankings. The rankings were released by United World Wrestling .
Punia, who won Gold in the Asian Games and Commonwealth Games as well as a silver in the World Championships last year, secured 58 points ahead of Akhmed Chakaev of Russia.
Bajrang, who is currently preparing for the Asian Wrestling Championship to be held in China from the 23rd of this month, had first reached the world number one spot in November last year. He won gold at the Dan Kolov-Nikola Petrov tournament in Bulgaria last month.
13. ISIS module: NIA carries out search operations in Hyderabad
National Investigation Agency (NIA ) carried out search operations in Hyderabad today in connection with the Abu Dhabi ISIS module case.
Senior officials said the searches were necessitated as new names emerged during investigations. The NIA had earlier filed a charge sheet in the Patiala House Court in Delhi in the case after taking one person into custody.
14. India rebuilds Chhyoiphel Kundeling monastery in Nepal
India has rebuilt Chhyoiphel Kundeling Monastery in Nepal. Shyalpa Tenzin Rinpoche inaugurated newly reconstructed Monastery at Lisankhu village in Sindhupalchok district .
The Monastery has been reconstructed with Government of India grant of 18.9 million Nepalese rupees. The project also included building additional infrastructure such as residences, kitchen, sanitation facilities and compound wall.
The Chhyoiphel Kundeling Monastery was established in 1946 with the active initiation and contribution of Lisankhu villagers.