Current Affairs – July 28-29, 2019

Here’s your daily summary of Current Affairs – July 28-29, 2019

National - Current Affairs - July 28-29, 2019

Pradhan Mantri Laghu Vyapari Maan-dhan Yojana Pension scheme for retailers, traders

 

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Santosh Kumar Gangwar-led labour ministry has notified the pension scheme for retailers and traders benefitting over three crore self-employed workers in the country. The scheme, which is an extension of the PM Shram Yogi Maan-dhan Yojana, will make all beneficiaries eligible for a monthly pension of Rs 3000 after the age of 60 at a miniscule monthly contribution. All shopkeepers and self-employed persons, as well as retail traders with GST turnover below Rs 1.5 crore and aged between 18-40 years, can enroll for the scheme. Government has earmarked Rs 750 crore for the scheme in the Union Budget 2019-20.

 

“Indo-Pak Relations: Beyond Pulwama and Balakot” authored by U.V. Singh released

 

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A book titled “Indo-Pak Relations: Beyond Pulwama and Balakot” authored by U.V. Singh has been released. The book was released by Former External Affairs Minister Natwar Singh. This book deals with the fundamental causes of the Indo-Pak conflict—why it is difficult, if not impossible, to have peace between the two neighbors.

 

Account Aggregator Body ‘Sahamati’ Announced

 

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Sahamati, a collective of the ‘Account Aggregator’ ecosystem was announced at an event in Mumbai featuring Nandan Nilekani, Arundhati Bhattacharya and head honchos of leading Indian banks such as ICICI, Axis, and IDFC.
The ‘Account Aggregator’ is a new class of NBFC approved by the RBI in 2016, whose primary responsibility is to facilitate the transfer of user’s financial data with their explicit consent. Currently, no such mechanism exists, even if the user wishes to share data. The Account Aggregator framework, in theory, should allow for the seamless sharing of data between financial bodies of all kinds centered around user consent (i.e ‘Sahamati’). The body hopes to expand this framework to accommodate other domains such as healthcare and telecom soon.

 

GST rate on Electric Vehicles cut from 12% to 5%

 

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The high-powered GST Council on Saturday decided to reduce the tax rate on electric vehicles (EVs) to 5 percent from the existing 12 percent, a move aimed at accelerating the adoption of eco-friendly mobility solutions. The new Goods and Services Tax (GST) rate on EVs will be effective from August 1, the finance ministry said in a statement after the 36th meeting of the GST Council.

 

Business - Current Affairs - July 28-29, 2019

IBBI Sets 1 Year Deadline for Completion of Liquidation Process

 

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In a major push for early resolution of stressed assets, the Insolvency and Bankruptcy Board of India (IBBI) on Friday said that the liquidation process of a company under the Insolvency and Bankruptcy Code (IBC) should be completed within one year of its commencement. The IBBI on Friday notified the IBBI (Insolvency Resolution Process for Corporate Persons) (Amendment) Regulations, 2019, and the IBBI (Liquidation Process) (Amendment) Regulations, 2019.
It also specifies a maximum time of 90 days from the order of liquidation for completion of compromise or arrangement, if any, proposed by the stakeholders under section 230 of the Companies Act, 2013. These will ensure that the liquidation process is closed at the earliest.

 

Apple Acquires Intel’s Smartphone Modem Business for $1 Billion

 

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Apple has announced the acquisition of chip-maker Intel’s smartphone modem business for $1 billion. Approximately 2,200 Intel employees will join Apple, along with intellectual property, equipment and leases, the Cupertino-based iPhone maker said. The transaction is expected to close in the fourth quarter of 2019. This agreement enables us to focus on developing technology for the 5G network while retaining critical intellectual property and modem technology that our team has created.

 

Sports - Current Affairs - July 28-29, 2019

Kapil Dev-led Cricket Advisory Committee to pick Team India’s next coach

 

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A Cricket Advisory Committee (CAC) led by World Cup-winning former captain Kapil Dev was entrusted with the responsibility of selecting India’s new coach, the interviews for which are expected to be conducted in mid-August. The decision was taken by the Committee of Administrators (COA) running Indian cricket after a meeting.
Apart from Kapil, the panel, which picked the women’s coach in December last year in the capacity of an ad-hoc body, comprises former women’s captain Shantha Rangaswamy and former men’s coach Anshuman Gaekwad.

 

A high-level committee formed to strategize preparations for 2020, 2024 Olympics

 

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A high-level 10-member Committee has been constituted on Friday under the Chairmanship of Sports Minister Kiren Rijiju to coordinate and strategize the preparation for the 2020 and 2024 Olympics. The objective of the committee is to ensure that the performance of the Indian athletes is optimized in the Olympics and other multidisciplinary events.
The committee comprises prominent sportspersons like Olympic medallists — tennis ace Leander Paes and shooter Gagan Narang. Other prominent names in the committee include Secretary of Department of Sports Radhey Shyam Julaniya, Indian Olympic Association President Narinder Batra, IOA Secretary General Rajeev Mehta, President of Indian Athletics Federation Adille Sumariwalla and Boxing Federation of India chief Ajay Singh among others.

 

The 3rd edition of Khelo India Youth Games to be held in Guwahati in 2020

 

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Union Youth Affairs and Sports Minister Kiren Rijiju announced the schedule of the third edition of ‘Khelo India’. The Games will see a participation of more than 10,000 athletes and officials. It will be conducted in partnership with IOA, SGFI, and Assam as host State.
The third edition of the Khelo India will take place at Guhawati in Assam from January 18 to 30 next year. Khelo India is national level multidisciplinary grassroots games in India held for two categories, mainly U-17 years school students and U-21 college students.

 

Mary Kom, Six Other Indians Clinch Gold Medal In 23rd President’s Cup

 

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MC Mary Kom, the six-time world champion, defeated Australia’s April Franks 5-0 in the 23rd President’s Cup to clinch the gold medal in a one-sided 51kg category final in Labuan Bajo, Indonesia. The Indian boxers finished their campaign with nine medals, including seven gold and two silver, helping the contingent win the ‘Best Team’ award. The women boxers had a flawless record in the finals, winning all the four gold medals on offer, the men had mixed fortunes and had to settle for two silver along with three gold.

 

Max Verstappen wins the German Grand Prix 2019

 

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Max Verstappen took full advantage of his rivals’ calamities on Sunday to win an epic, rain-lashed and wildly-spectacular German Grand Prix for Red Bull ahead of Sebastian Vettel of Ferrari. The 21-year-old Dutchman secured his second win of the season and seventh of his career, finishing ahead of four-time world champion Vettel, who had started 20th and last on the grid. New dad Daniil Kvyat of Toro Rosso was third as he secured only his third Formula One podium.

 

Awards - Current Affairs - July 28-29, 2019

Sudarsan Pattnaik wins People’s Choice Award at Boston International Sand Art Championship

 

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Renowned Indian sand artist and Padma Awardee Sudarsan Pattnaik has won the People’s Choice Award at a prestigious sand sculpting festival in the US, wowing the American public with his sculpture that highlighted the message of combating plastic pollution in oceans. Pattnaik was among the 15 top sand artists selected from across the world to participate in the 2019 Revere Beach International Sand Sculpting Festival in Boston, Massachusetts. He won the People’s Choice Award for his sand sculpture ‘Stop Plastic Pollution, Save Our Ocean’.

 

Meryl Streep to receive inaugural TIFF Tribute acting award

 

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Meryl Streep will be the first recipient of an acting award bestowed as part of the Toronto International Film Festival. The festival’s organizers announced that Streep will receive the inaugural TIFF Tribute Actor Award during a Sept. 9 charity gala. The glitzy fundraiser will support the festival’s year-round efforts to promote films and the industry’s leading creators. Organizers are also set to honour Participant Media with the TIFF Impact Award as well as announce other award recipients in the coming weeks. Streep stars in Steven Soderbergh’s upcoming Panama Papers film The Laundromat with Gary Oldman and Antonio Banderas. The film will have its North American premiere at TIFF.

 

Vidisha Baliyan Becomes First Indian To Win Miss Deaf World Pageant

 

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Vidisha Baliyan, 21, a girl from Uttar Pradesh’s Muzaffarnagar city was just crowned Miss Deaf World 2019, held in Mbombela, South Africa. Thus, she became the first Indian to win this crown. Vidisha, who is a modeling student of Asian Academy of Film & Television, was honoured on July 22. She was chosen among the 11 finalists from 16 participating countries in the final round. She was trained for the pageant in Gurugram and Noida.

 

Obituary - Current Affairs - July 28-29, 2019

Former Union Minister S. Jaipal Reddy passes away at 77

 

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Sudini Jaipal Reddy, a former Union Minister and senior Congress leader passed away during the early hours on Sunday. He was 77-years-old. A firebrand student leader at the Osmania University, during the ‘60s, Jaipal completed his post-graduation in political science and diploma in Journalism. He was active in the Telangana movement before becoming a full-fledged politician in the early ‘70s as a Congress MLA. In an illustrious career spanning over five decades, Jaipal rose to become the Best Parliamentarian, Union Minister for Information & Broadcasting, Urban Development & Petroleum as well as Science and Technology at different points in time.

 

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