Daily GK Update: 20th June 2019

Important Days

1. World Refugee Day observed on 20th June

• World Refugee Day is observed on 20th June every year to raise awareness about the conditions and problems that refugee faces in their lives.
• The theme for World Refugee Day 2019 is 'Step with Refugees — Take A Step on World Refugee Day.'
• The theme focuses on that there is a need to take big and small steps in solidarity with refugees from around the world.
• Millions of people are forced to move from their homes every year to keep safe from war, persecution or natural disaster.
• According to the United Nation (UN) every minute, around 25 people have to leave everything in the search for a better and safer life.

 Source: DD News

Banking & Economy

2. At 9.8 GB per month, India has the highest data usage per smartphone

• According to a new study by Swedish telecom equipment maker Ericsson, India has the highest average data usage per smartphone, reaching 9.8 GB per month at the end of 2018.
• The report, released on 19^th June, also forecasts that this figure is likely to double to 18 GB per month per smartphone by 2024.
• The ‘Ericsson Mobility Report’ added that total smartphone subscriptions in the region are likely to reach 1.1 billion by 2024, growing at 11% CAGR.
• The total mobile broadband subscriptions in India are expected to grow from about 610 million in 2018 to 1.25 billion in 2024.
• According to Ericsson, Indian smartphone users are willing to pay more than 66% premium for 5G services.
• In 2018, mobile data traffic per smartphone per month stood at 7 GB for North America, 3.1 GB for Latin America, 6.7 GB for Western Europe, 4.5 GB for Central and Eastern Europe.

Note:

• Top telecom companies in India - Vodafone Idea, Reliance Jio and Airtel. 

Source: The Hindu

3. India to generate over 2 million outbound tourists annually by 2020: Report

• India is estimated to generate over 2 million outbound luxury and MICE tourists annually by 2020, reinforcing the country's influence as a key source market for MICE and luxury travel.
• According to the organisers of the MICE India and Luxury Travel Congress, India's outbound MICE tourism market is expected to reach US$ 9 Billion by 2025, and in 2020 India is expected to generate more than 2 Million outbound MICE tourists.
• The MILT Congress will be held from July 17-18 in Delhi and from July 23-24 in Mumbai.

Source: The Economic Times

4. IndusInd Bank-Bharat Financial merger to be effective from July 4

• IndusInd Bank and Bharat Financial Inclusion Ltd (BFIL) said their merger will be effective from July 4.
• The National Company Law Tribunal on June 10, 2019, approved the Scheme of Arrangement among BFIL, IndusInd Bank and Induslnd Financial Inclusion and their respective shareholders and creditors.
• IndusInd Bank in October last year decided to acquire the country's leading micro-finance player BFIL, which was previously known as SKS Microfinance.

Note:

• IndusInd Bank was inaugurated in April 1994 by then Union Finance Minister Manmohan Singh.
• IndusInd Bank Limited headquarters is in Mumbai, Maharashtra. 
• Romesh Sobti is the CEO of IndusInd Bank. 

 Source: The Economic Times

5. FM chairs the 20th meeting on FSDC

• The 20th meeting on Financial Stability and Development Council (FSDC) was held under the chairmanship of Finance Minister Nirmala Sitharaman in New Delhi.
• The meeting reviewed the current global and domestic economic situation and financial stability issues including, inter-alia.
• Sitharaman will present the first budget of the new government on July 5.

Note:

• The Financial Stability and Development Council (FSDC) was constituted in December 2010.
• The FSDC was set up to strengthen and institutionalise the mechanism for maintaining financial stability, enhancing inter-regulatory coordination and promoting financial sector development. 

Composition: 

• The Council is chaired by the Union Finance Minister and its members are Governor, Reserve Bank of India; Finance Secretary and/or Secretary, Department of Economic Affairs; Secretary, Department of Financial Services; Chief Economic Adviser, Ministry of Finance; Chairman, Securities and Exchange Board of India; Chairman, Insurance Regulatory and Development Authority and Chairman, Pension Fund Regulatory and Development Authority. 
• It also includes the chairman of the Insolvency and Bankruptcy Board (IBBI).

Source: The Hindu

6. DBS revises India GDP forecast for FY20 down to 6.8 per cent

• DBS Bank has revised India's GDP growth for the fiscal year 2020 downwards to 6.8 per cent year-on-year (YoY) from 7 per cent projected earlier, citing headwinds for exports amidst challenging trade outlook.

Source: The Economic Times

7. India extends $15 mn assistance to Niger for holding AU summit

• India has extended USD 15 million assistance to Niger for organising the African Union (AU) summit scheduled to be held in Niamey early next month.
• The summit is scheduled to be held in Niamey from July 7-8. It will also be the first time that Niger is scheduled to host an AU summit.
• India is also establishing the Mahatma Gandhi International Convention Centre (MGICC) in Niamey under grant assistance.

Note:

• African Union (AU), international organization established in 2002 by the nations of the former Organization of African Unity (OAU).
• There are 54-member nations; the only African country that is not a member is Morocco.
• The AU's headquarters are at Addis Ababa, Ethiopia
• The AU's bodies include the Assembly of the AU, the Pan-African Parliament, the African Court of Justice and Human Rights, the AU Commission (its secretariat), the African Central Bank, African Monetary Fund, and other organs and agencies.

 Source: Business standard

8. SEBI permits stock exchanges to introduce futures on commodity indices

• Capital markets regulator SEBI permitted stock exchanges with commodity derivative segment to introduce futures on indices.
• SEBI in a circular said, the stock exchanges, willing to start trading in futures on commodity indices, are required to take prior approval for launching such contracts.
• The regulator has directed the stock exchanges to submit a proposal with contract specifications and risk management framework for approval before launching any futures contract on an index.

Note:

• The Securities and Exchange Board of India is the regulator for the securities market in India. 
• It was established in the year 1988 and given statutory powers on 30 January 1992 through the SEBI Act, 1992. 
• SEBI Chairman – Ajay Tyagi 
• SEBI headquarters – Mumbai 
• SEBI is the regulator of the capital market.

Source: News on air

9. India to cross China's population by 2027: United Nations

• As per a United Nations report, India is projected to surpass China as the world's most populous country in 2027 and will have almost 1.64 billion inhabitants by 2050.
• UN Under-Secretary-General for Economic and Social Affairs Liu Zhenmin said the report offers a roadmap indicating where to target action and interventions.

Key highlights of the report

• India is expected to add nearly 273 million people between 2019 and 2050 and remain the most populated country through the end of the current century.
• The population of Nigeria is projected to grow by 200 million.
• Together, India and Nigeria could account for 23 per cent of the global population increase to 2050," the report has said.
• China, with 1.43 billion people in 2019, and India, with 1.37 billion, have long been the two most populous countries of the world, comprising 19 and 18 per cent, respectively, of the global total in 2019.
• India is still among the countries where the working-age population (25-64 years)is growing faster than other groups.

World Population

• The UN report 'The World Population Prospects 2019' added that the world's population is expected to increase by two billion people in the next 30 years -- from 7.7 billion currently to 9.7 billion in 2050.
• In China, the population is projected to decrease by 31.4 million, or around 2.2 per cent, between 2019 and 2050.
• The Central and the Southern Asia region is expected to see a 25% increase in population till 2050.
• The rate of population growth is the highest in sub-Saharan Africa, where the fertility rate stand at 4.6 births per woman over a lifetime.

Population Growing Older

• By 2050, one in six people in the world will be over age 65 (16 per cent), up from one in 11 in 2019 (9 per cent).
• The number of persons aged 80 years or over is projected to triple, from 143 million in 2019 to 426 million in 2050.

Average life expectancy

• The report also projected people would survive longer in the future, with global average life expectancy expected to reach 77.1 years in 2050 against 72.6 years currently.
• In 1990, the average life expectancy worldwide was 64.2 years.

Source: India Today

State Affairs

10. Himachal Pradesh makes GPS device must for trekkers

• The Himachal Pradesh government make it mandatory for trekkers to carry a GPS device to tackle any exigency.
• Additional Chief Secretary Shrikant Baldi said that - It would be made mandatory for trekkers to have a GPS device so that they can be provided with all possible help in case of an emergency.
• Being a disaster-prone state, it is essential to pay special attention to disseminating weather advisories and installing early warning systems in Himachal Pradesh.

Note:

• Chief Minister of Himachal Pradesh is Jai Ram Thakur.
• Present Governor of Himachal Pradesh is Acharya Dev Vrat.
• Capital of Himachal Pradesh is Shimla.

Source: Business standard

11. Unemployed graduates to get up to Rs 3,500 in Rajasthan

• Unemployed youth having graduation or equivalent degree will be given unemployment allowance up to Rs 3,500 by the Rajasthan government, an official statement said.
• They will get the benefit of the Chief Minister Yuva Sambal Yojana from February this year.
• The state government has implemented the scheme from February this year after rechristening the earlier Akshat Yojana.
• To be eligible for the scheme, applicants should be natives of Rajasthan.
• Under the scheme, male applicants will get Rs 3,000 per month whereas women and differently-abled will get Rs 3,500 per month.
• The amount will be given for two years or until they get employed.

Note:

• Chief Minister of Rajasthan is Ashok Gehlot.
• Present Governor of Rajasthan is Kalyan Singh.
• Capital of Rajasthan is Jaipur.

Source: The Economic Times

International Affairs

12. Mexico ratifies US-Mexico-Canada agreement

• Mexico has ratified the US-Mexico-Canada agreement. This makes it the first country to give the new North American trade deal final approval despite recent tensions with the US.
• The Mexican government called the deal's passage a clear message in favour of an open economy and deepening economic integration in the region.
• Mexico President Andres Manuel Lopez Obrador claimed the deal would bring in more foreign investment and jobs in Mexico, and access to the US market.
• The deal aims to replace the North American Free Trade Agreement (NAFTA), which helped turn Mexico into an exporting powerhouse over the past 25 years.
• It now falls to Canada and the US to ratify the deal.
• The three countries signed the agreement on 30th November after a year of negotiations triggered by US President Donald Trump's insistence on replacing NAFTA.

About NAFTA

• The North American Free Trade Agreement was implemented in 1994 to encourage trade between the United States, Mexico, and Canada.
• NAFTA’s purpose was to encourage economic activity among North America's three major economic powers.
• President Trump made a campaign promise to repeal NAFTA, and in August 2018, he announced a new trade deal with Mexico to replace it.
• In Sept. 2018, Canada joined the deal: the United States-Mexico-Canada Agreement (USMCA), which was signed on Nov. 30, 2018.

Source: News on air

13. WHO offers a new tool for action against antimicrobial resistance

• WHO offers a new tool “AWaRe” to contain rising antimicrobial resistance and make antibiotic use safer and more effective.
• WHO has launched a global campaign that urges countries to adopt its new online tool called AWaRe.
• The campaign aims to achieve a 60 per cent increase in the use of antibiotics under the Access group cheap, ‘narrow-spectrum’ drugs (that target a specific microorganism rather than several) and also lower the risk of resistance.
• It also reduces the use of the antibiotics most at risk of resistance from the Watch and Reserve groups.

AWaRe tool  - The tool aimed at guiding policy-makers and health workers to use antibiotics safely and more effectively. It’s another objective is to limit drugs that are at risk of resistance.

The tool, known as ‘AWaRe’, classifies antibiotics into three groups:

• Access — antibiotics used to treat the most common and serious infections
• Watch — antibiotics available at all times in the healthcare system
• Reserve — antibiotics to be used sparingly or preserved and used only as a last resort.

About WHO

• The World Health Organization is a specialized agency of the United Nations (UN) that is concerned with international public health.
• It was established on 7 April 1948, headquartered in Geneva, Switzerland.
• The WHO is a member of the United Nations Development Group.
• Tedros Adhanom is working as a Director General of WHO since 2017.  

Source: WHO

Sports

14. Folksam Grand Prix: PU Chitra wins 1500m gold

• Asian champion PU Chitra won the women's 1500m gold at the Folksam Grand Prix in Sollentuna, Sweden.
• She produced the best time of her season so far by clocking 4 minutes 12.65 seconds (4:12.65s).
• She is a gold medal winner in Asian Championships held in Doha, Qatar in April 2019.
• Asian Games gold medallist India’s Jinson Johnson won the silver in the men's 1500m clocking 3:39.69.

Source: The Times of India 

15. Archery Association of India de-listed by the world body

• Archery's world body has de-listed the Archery Association of India (AAI) as a member and given it a month's time to either get its house in order or face suspension.
• World Archery (WA) said it will wait till 31st of next month before deciding on AAI's suspension. The WA will wait for the Supreme Court's verdict on the controversial elections of the AAI.
• The decision to de-list AAI will not prevent Indian archers from taking part in international events under the national flag in competitions for which entries have already been made.

Source: News on air

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