Current Affairs Daily Digest – April 28 2019
1. Tony Award-Winning Playwright Mark Medoff Dies At Age 79
Mark Medoff, whose Tony Award-winning play Children of a Lesser God opened the stage for deaf actresses, died at his home in Las Cruces, N.M., at the age of 79.
He had been suffering from multiple myeloma and renal failure, The Associated Press reported, citing his daughter Jessica Bunchman.
Medoff wrote 30 plays and is best known for the groundbreaking Children of a Lesser God, the story of a young deaf woman and her love affair with her speech teacher.
2. Kerala CBSE schools set up new unit
Heralding a change in the running of CBSE Schools in Kerala, representatives of over 350 schools met in the city and announced the formation of a new body – Kerala State Council of CBSE Schools (KSCCS).
The new Council has been formed at a time when CBSE Schools are faced with a number of issues which include recognition certificate from the state government, rules framed under the Right to Education Act, proposed guidelines regarding salary, fees and service conditions. Another core area that KSCCS aims to address is faculty enhancement programmes.
3. About 200 US companies seeking to move manufacturing base from China to India: Report
About 200 American companies are seeking to move their manufacturing base from China to India post the general elections, a top US-based advocacy group has said, observing that there is a fantastic opportunity with firms looking at alternatives to the Communist giant.
The US-India Strategic and Partnership Forum’s (USISPF) President Mukesh Aghi said that the companies are talking to them about how to set up an alternative to China by investing in India.
4. India Pavilion inaugurated at Abu Dhabi International Book Fair 2019
The India Pavilion at the 29th Abu Dhabi International Book Fair was inaugurated by Deputy Prime Minister of United Arab Emirates, Shri Saif Bin Zayed Al Nahayan on 24th April, 2019 in the presence of UAE’s Minister of Culture and Knowledge Development, Shri Noura Bint Mohd Al Kaabi; Indian Ambassador Shri Navdeep Suri and Chairman of National Book Trust Prof.Govind Prasad Sharma.India has been designated as the Guest of Honour for the Book Fair, which is being held from 24th – 30th April, 2019.
The India Pavilion lays special focus on the life and philosophy of Mahatma Gandhi. It displays the 100 volume series titled Collected Works of Mahatma Gandhi, apart from various publications on freedom struggle.
5. Axis Bank plans to raise ₹35,000 crore
Private sector lender Axis Bank said it plans to raise rs35,000 crore debt instrument, including in foreign currency, to fund business growth. The decision in this regard will be taken at the annual general meeting held on July 20.
The board has already given an approval to raise funds in Indian or foreign currency by issue of debt instruments including but not limited to long-term bonds, non-convertible debentures, perpetual debt instruments and tier-II capital bonds up to an amount of ₹35,000 crore, Axis Bank said .
6. USTR places India on ‘Priority Watch List’ for IP rights violations
The US placed India on its ‘Priority Watch List’ alleging lack of “sufficient measurable improvements” to its Intellectual Property (IP) framework on long-standing and new challenges that have negatively affected American right holders over the past year.
The US Trade Representatives (USTR) in its report identified 11 countries, including India, in its ‘Priority Watch List’. China, Indonesia, Russia, Saudi Arabia and Venezuela are among others. It has also placed 25 countries, including Pakistan and Turkey, on the Watch List.
7. Abhishek Verma wins gold at Beijing World Cup, earns Tokyo Olympics quota
India’s Abhishek Verma won gold in the 10m air pistol event after shooting a score of 242.7 in the final at the Beijing World Cup . His medal assured India of a second berth in the event at next year’s Tokyo Olympics. Russia’s Artem Chernousov (240.4) won silver, while South Korea’s Seungwoo Han (220) won bronze.
Verma had finished fourth in the qualification round with a score of 585. Shahzar Rizvi (576) and Arjun Singh Cheema (571), the other Indians in action, finished 32nd and 54th respectively.
It was 29-year-old Verma’s first medal at a World Cup. He was making his second senior World Cup appearance, having finished 24th in his debut at the New Delhi event in February. He won silver at the Asian Championships in Taoyuan earlier in the year.
8. Star golfer Gaganjeet Bhullar wins outstanding achievement as player award
Arjuna awardee and star Indian golfer Gaganjeet Bhullar won the outstanding achievement as a player award at the fourth edition of the annual India Golf Industry Association (GIA) awards at the Delhi Golf Club .
The GIA awards were held along with the 8th India Golf & Turf Expo (IGTE), South Asia’s largest golf trade show.
Kapurthala-born Bhullar won the 2018 Fiji International, a European Tour event, and also holds the rare distinction of becoming the youngest golfer on the Asian Tour to achieve nine career victories on tour.
9. CPWD constitutes committee to formulate design policy for building construction
Apr 25 The Central Works Public Department (CPWD) has constituted an expert committee to formulate a design policy for building construction and infrastructure development.
A government official said the committee has been set up under the chairmanship of CPWD’s Additional Director General M K Sharma.
The move is aimed at reviving building construction and infrastructure development at all levels in the CPWD which comes under the Housing and Urban Affairs Ministry.
10. IRDAI forms panel to review microinsurance framework
The Insurance Regulatory and Development Authority of India (IRDAI) set up Suresh Mathur Committee to review regulatory framework on micro insurance,and to recommend measures to increase demand for such products.
It was formed because of less than desired offtake of micro insurance products despite of their inherent benefits in the country. India was seen to be an exciting market and a pioneer in micro insurance sector in world, but its market penetration remains low.
It is a 13-member panel chaired by IRDAI’s Executive Director Suresh Mathur, and comprises of representatives from IRDAI, life, general and health insurance companies in public and private sectors and NGOs.
11. Claire Polosak becomes first female umpire to officiate men’s ODI
Australia’s Claire Polosak will become the first female umpire to officiate in a men’s one-day international at the ICC World Cricket League Division Two on Saturday.
Polosak will stand in the final between tournament hosts Namibia and Oman.
The 31-year-old became the first woman to umpire an Australian men’s domestic fixture in October 2017. Polosak has overseen 15 women’s ODIs and stood in the semi-final of the Women’s World Twenty20 in 2018.
She and Eloise Sheridan became the first female umpires to officiate on-field together in a professional match in Australia in last year’s Women’s Big Bash League.
12. Sebi reduces minimum net worth requirements for clearing corp in IFSC
Sebi in its circular provided the methodology to determine the minimum net worth requirements for clearing corporations that included capital requirement based on credit risk, business risk, orderly winding down or recovery of operations and legal and operational risks assessment.
Clearing corporations operating in international financial services centre should have at least Rs 100 crore net worth from three years of commencing operations, Sebi said Friday as it reduced the minimum requirement level. This net worth requirement in the form of liquid assets has been brought down from the earlier Rs 300 crore.
However, the minimum net worth required to be held in liquid assets for clearing corporations on the commencement of operations remains the same as Rs 50 crore or the capital determined as per the Sebi norms.
13. Non-deposit taking firms now come under ombudsman scheme for NBFCs
The Reserve Bank of India,extended the coverage of Ombudsman Scheme for Non-Banking Financial Companies (NBFCs) 2018 to eligible non-deposit taking NBFCs with asset size of over ₹100 crore.
It had made an announcement to this end earlier this month in the Statement of Developmental and Regulatory Policies that came with the Monetary Policy Statement.
“The NBFC-Infrastructure Finance Company, Core Investment Company, Infrastructure Debt NBFC and an NBFC under liquidation are excluded from the ambit of the scheme,” the RBI said in a statement.
14. HDFC Bank and Max Bupa launch AnyTimeHealth machines to distribute health insurance products
Max Bupa, one of India’s leading standalone health insurance players, and HDFC Bank, one of India’s leading private sector banks, announced the launch of ‘digital first’ propositions for the bank’s 40+ million customers, spread across its 5,000+ branches.
Max Bupa is committed to provide the best bespoke and comprehensive health insurance solutions and services to HDFC Bank’s customers through a slew of digital touch points like AnyTimeHealth (ATH) machines, deep integration with HDFC Bank Net banking and digital seller apps like InstaInsure.
As part of the corporate agency arrangement with HDFC Bank, Max Bupa provides comprehensive and customisable product variants to the bank’s customers, through multiple digital touch points.
15. Canara Bank, Canara HSBC OBC Life launch ‘Webassurance’
Public sector lender Canara Bank and its life insurance partner Canara HSBC Oriental Bank of Commerce Life Insurance announced the launch of ’Webassurance’
Four life insurance products of Canara HSBC OBC Life would be made available to customers of Canara Bank, covering the key needs of child future, savings and investments, retirement planning and protection, a release issued here said.
“This initiative integrates together the digital capabilities of the bank and the company to provide a convenient and hassle-free option for the bank customers to fulfil their insurance needs.
16. RBI extends deadline for legal entity identification
The RBI, extended the deadline for Legal Entity Identifier (LEI) codes for participation in non-derivative markets. Now, the deadline for entities with net worth of over Rs1,000 crore to get the code is December 31, 2019, against the earlier deadline of April 30 this year.
This is also the deadline for those with net worth between ₹200 crore and ₹1,000 crore, while for entities with net worth of less than ₹200 crore, the deadline has been extended to March 31, 2020.