Current Affairs Daily Digest – August 06 2019
1. Lalit Kala Akademi celebrates 65th Foundation Day
Lalit Kala Akademi celebrated its 65th Foundation Day on August 5th, 2019. Union Minister of State (Independent Charge) of Culture & Tourism inaugurated the celebrations in New Delhi.
It is also known as National Academy of Art. It is India’s national academy of fine arts established by Central Government for promoting and propagatiIt is also known as National Academy of Art. It is India’s national academy of fine arts established by Central Government for promoting and propagating understanding of Indian art, within and outside country.
2. Maharashtra launches Mission Shakti sports initiative
Film Actor Aamir Khan launched Mission Shakti, a Maharashtra government’s initiative to train athletes from tribal areas for international sports events such as Olympics. It will help Maharashtra government to hunt for talented athletes in remote areas of Chandrapur and Gadchiroli.
3. IIFL Finance to raise up to crore through bonds
IIFL Finance will raise up to â‚¹1,000 crore through a public issue of bonds The main or the purpose of business growth and expansion. The bonds will offer yield of 10.5% per anum for tenor of 69 months and 10% for shorter tenor of 15 months for the secured category, the non-banking financial company (NBFC).
The UK-based CDC Group-backed IIFL Finance will issue secured and unsecured redeemable non-convertible debentures (NCDsaggregating to â‚¹100 crore, with a green-shoe option to retain over-subscription up to â‚¹900 crore (aggregating to a total of â‚¹1,000 crore)
4. Rajya Sabha approves resolution abrogating Article 370
Rajya Sabha approved a resolution abrogating Article 370 for Jammu and Kashmir and a bill to bifurcate the state into two Union Territories with Home Minister Amit Shah saying the controversial provisions were responsible for poverty and lack of development in the state.
Allaying opposition fears of all hell breaking loose after the move, Shah replying, “nothing will happen” and it won’t be allowed to turn into another battle torn Kosovo. “It was heaven on earth and will remain so,” he said replying to the debate on the resolution and the bill which were taken up together.
5. ScooNews Global Educators Fest 2019
The 3rd edition of ScooNews Global Educators Fest will be held on Udaipur, the city of lakes, revolves around the theme of ‘Education for Sustainability: Moving On from Conformity to Creativity’.
6. Repo rate could touch 5 pc level by March 2020: SBI report
The Reserve Bank of India (RBI) may cut repo rate by 25 basis points (bps) in its August 7 policy meet and further reduce it by 50 to 75 bps to achieve the level of less than or equal to 5 per cent by March 2020, according to State Bank of India’s research report ‘Ecowrap’.
7. Former Myntra-Jabong CEO Ananth Narayanan joins Medlife
Over six months after his exit from Walmart-owned Myntra, Ananth Narayanan is back into the CEO’s shoes with e-pharmacy platform Medlife, said the company. Narayanan has joined as the company’s co-founder and CEO and will be involved in the firm’s day-to-day operations, apart from handling fundraising and mergers and acquisitions.
8. Mohali gets first 3-D traffic signal
“Traditional methods of traffic police to control and regulate traffic are very much labour-intensive and two-dimensional. Employing the 3-D technique to make traffic signal fully actuated and on a real-time basis is first of its kind in the country. This will be a major leapfrog towards better and economical traffic management system,” said Dr Sharad Satya Chauhan, ADGP (Traffic), while addressing the media.
9. Bill to increase number of SC judges in Lok Sabha
Against the backdrop of nearly 60,000 pending cases in the Supreme Court, a bill to increase the number of judges in the top court from 30 to 33 was introduced in Lok Sabha. As of now, the Supreme Court has a sanctioned strength of 30 judges, plus the chief justice of India — 31 judges.