07 February 2019 - Daily Current Affairs

07 February 2019 - Daily Current Affairs

1. RBI cuts repo rate by 25 basis points to 6.25%

• The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) decided to reduce the key policy rate or the repo rate by 25 bps to 6.25% in bimonthly policy review of 2018-19.
• The three-day policy review meeting by the Monetary Policy Committee (MPC) began headed by RBI Governor Shaktikanta Das in Mumbai.
• Reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.5% to 6.25% with immediate effect.
• The reverse repo rate under the LAF stands adjusted to 6.0 per cent.
• The marginal standing facility (MSF) rate and the Bank Rate to 6.5 per cent.

Current Policy Rates:

Policy Repo Rate	6.25%
Reverse Repo Rate	6.0 %
Marginal Standing Facility Rate	6.50%
Bank Rate	6.50%

 International Affairs

2. Trump nominates US treasury diplomat David Malpass to head World Bank

• Donald Trump (US President) has nominated senior Treasury official ‘David Malpass’(62-years) as the chief of the World Bank for a five-year term.
• He would replace Jim Yong Kim, if voted by the Directors of the World Bank Group.
• Traditionally, the World Bank Group President has always been an American citizen nominated by the United States (the largest shareholder in the World Bank Group).
• At present, David Malpass is the Under Secretary of the Treasury for International Affairs.
• The position of Managing Director of International Monetary Fund has gone to Europe.
• Bulgarian Kristalina Georgieva is the interim President of the World Bank Group since 1 February 2019.

Note:

• The President of the World Bank Group is responsible for chairing the meeting of the Boards of Directors and for overall management of the World Bank Group.

3. Macedonia signs accord to join NATO

• Macedonia formally signed an agreement to join NATO (the North Atlantic Treaty Organization) to become the 30^th member of the US-led alliance.
• According to Macedonia’s Foreign Minister Nikola Dimitrov, the country will never walk alone once in the alliance.
• The admittance of a new member highlighted that all European nations who meet the entrance criteria could join the regional alliance.
• The Macedonia-NATO accord follows a deal with Greece ending a 27-year-old dispute over Macedonia's name.
• The most recent member state to be added to NATO is Montenegro on 5th June 2017.

Note:

• The North Atlantic Treaty Organization (NATO) is an intergovernmental military alliance between 29 North American and European countries.
• NATO constitutes a system of collective defence for its independent members' states agree to mutual defence in response to an attack by any external party.
• NATO’s Headquarters located in Haren, Brussels Belgium.

  National Affairs

4. CCEA approves Broadcasting Infrastructure and Network Development scheme of Prasar Bharti

• The Cabinet Committee on Economic Affairs (CCEA) has approved the Broadcasting Infrastructure and Network Development scheme of Prasar Bharti.
• An amount of 1054 Crore rupees have been approved for a three years period.
• CCEA also approved the creation of Agri-Market infrastructure fund for development and up-gradation of Gramin Agriculture Markets.
• A corpus of 2 thousand crore rupees will be created with NABARD.
• CCEA also approved the continuation of the Central Sector Scheme of Exploration of Coal and Lignite for a period of 3 years from 2017-18.

5. Smriti Irani launches India Size project in Mumbai

• The Textile Minister Smriti Irani has launched the India Size project (first-of-its-kind project in the history of the country) in Mumbai.
• The objective of the India Size to arrive at a standard Indian Size for the ready-to-wear clothing industry.
• India size project will benefit manufacturers, consumers and generate data which will help tap into the potential of the sector.
• The Minister also launched a Study of Apparel Consumption in India, study report will release by July 2019.

6. Arunachal's Nyishi tribe celebrates Boori Boot Yollo festival

• The Nyishi tribe of Arunachal Pradesh is celebrating its Boori Boot Yollo festival (52nd) to welcome spring and a successful harvest.
• Boori Boot Yollo is observed every year in the month of February.
• The festival witnessed the grand display of Punu/Jajin and Boori Yapa dance.

7. Taj Mahal, Agra Fort, Qutub Minar among top 10 Revenue-Generating Monuments

• The Culture Minister Mahesh Sharma has revealed the top revenue-generating monuments in the country between 2015 to 2018.
• The top revenue-generating monuments during 2015-18 is Taj Mahal.
• Others in the top 10 list for the period of 2015-2018 include Agra Fort, Red Fort, Qutub Minar, Sun Temple in Konark, Humayun's Tomb, Mamallapuram, Ellora caves, the group of monuments in Khajuraho, and the Ajanta caves in Aurangabad.
• Tourism contributes nearly 9.4% of the country's GDP and supports 8% of its total employment.

8. BPRD to organize 2nd National Conference of Micro Missions of National Police Mission

• Today, Former Governor of Jammu and Kashmir N. N. Vohra has inaugurated the 2nd National Conference of Micro Missions of National Police Mission in New Delhi.
• The conference has been organised by the Bureau of Police Research and Development (BPRD).
• It will discuss the issues of skills and competence at the grass-root level, Attitudinal changes in Police, Gender sensitization, harnessing technology and Community Policing.
• National Police Mission Awards has been given to 09 officers for their contribution in Micro Missions and successful preparation of the implementable projects.

Note:

• The National Police Mission Division of BPRD strives to transform the Police Forces of the country into an effective instrument for the maintenance of Internal Security.  
• To achieve the mandate of NPM, eight micro missions are working under BPRD. BPRD organizes Conference on National Police Mission annually.

9. Cabinet approves the establishment of Rashtriya Kamdhenu Aayog

• The Union Cabinet has approved the proposal for the establishment of Rashtriya Kamdhenu Aayog for conservation, protection and development of cows and their progeny.
• It will lead to the development of the cattle population in the country including the development and conservation of indigenous breeds.
• Rashtriya Kamdhenu Aayog was announced in the budget on the 1st of this month.

Note:

• The Aayog will work in collaboration with Veterinary, Animal Sciences or Agriculture University or departments or organizations of the Central or State Government engaged in the task of research in the field of breeding and rearing of the cow, organic manure, biogas etc.

Sports

10. Vidarbha grab second successive Ranji Trophy Title 2018

• Vidarbha defeated Saurashtra by 78 runs to retain the Ranji Trophy 2018-19 edition (85th season) at the Vidarbha Cricket Association in Nagpur.
• Left-arm spinner Aditya Sarwate (Vidarbha), with eleven wickets in the match to steer Vidarbha to domestic glory.
• The Ranji Trophy is a domestic first-class cricket championship played in India between teams representing regional and state cricket associations.

Here are the details of the scores:

• Vidarbha: 312-10 (120.2) & 200-10 (92.5).
• Saurashtra:  307-10 (117) & 127-10 (58.4)

Note:

• The competition currently consists of 37 teams, with all 29 states in India and two of the seven union territories having at least one representation.
• The competition is named after first Indian cricketer who played international cricket, Ranjitsinhji, who was also known as 'Ranji'.