Professional Documents
Culture Documents
August 12 - 18, 2019
August 12 - 18, 2019
August 12 - 18, 2019
Economy…………............................................................06
Finance & Banking...........................................................10
Governance & Polity........................................................11
Social Issues…………......................................................16
International News...........................................................17
National News……...........................................................18
Environment & Ecology…...............................................22
Defence & Security….………………………………………23
Science & Technology…..................................................24
Art & Culture..………..…...................................................25
Facts of the Week ............................................................30
Final clearance for India’s longest ropeway over sea project to be issued soon
India’s first and longest sea ropeway project that will connect Mumbai with the
Elephanta Caves, is scheduled to start by the end of the year 2019.
The 8-km ropeway will begin from Sewri in Mumbai’s east coast and end at Raigad
district’s Elephanta Island.
The caves see an annual footfall of nearly seven lakh visitors and are one of the must-
visit places around Mumbai. Presently, it takes around an hour for the 10-km cruise from
Mumbai and vice versa.
State-run oil marketing companies to buy biodiesel made from used cooking oil
On the occasion of World Biofuel Day, the Minister of Petroleum and Natural Gas released
the Expression of Interest (EOI) for procurement of biodiesel made from Used Cooking Oil
(UCO).
The entrepreneurs setting up biodiesel plants (using used cooking oil as their raw material) to
get remunerative price and assurance of complete offtake of production by the oil
companies for the purpose of blending with normal diesel.
The Minister also launched a ‘Repurpose Used Cooking Oil (RUCO)’ sticker and a phone
app to enable the collection of used cooking oil.
Restaurants and hotels interested in supplying used cooking oil can affix the sticker to
show availability.
The announcement comes just a day after the Food Safety and Standards Authority of
India (FSSAI) directed Food Safety Commissioners to ensure that Food Business Operators
(FBOs), whose consumption of edible oils for frying is more than 50 litres per day, stop
reusing the oil more than three times.
FSSAI is planning to launch a mobile app for tracing and tracking used cooking oil.
FSSAI is also planning to ask cooking oil manufacturers to come out with colour charts
(either on the product or in a booklet along with the product) that will help people to identify if
the oil is fresh or re-used.
The order is aimed at ensuring that reused cooking oil is neither directly used in food
preparation nor re-enters the food chain i.e. to set in safety standards in the food
industry.
When used multiple times, cooking oil becomes acidic and darkens in colour. This may
alter the fatty acid composition of the oil.
PM may launch farm pension scheme next month, enrolment to start from Aug
1
Recently the central government has started the registration of beneficiaries under the pension
scheme for farmers i.e. Pradhan Mantri Kisan Maan-Dhan Yojana (PM-KMY).
Salient Features
The scheme has been started to provide social security to all landholding Small and
Marginal Farmers (farmers whose land holdings are less than two hectares of land in the
country).
Under this scheme, a fixed pension of Rs.3,000/- will be provided to all eligible small and
marginal farmers.
It is a voluntary and contribution based pension scheme.
Pension will be paid to the farmers from a Pension Fund managed by the Life Insurance
Corporation of India.
Farmers will have to contribute an amount between Rs.55 to Rs.200 per month in the
Pension Fund till they reach the retirement date i.e. the age of 60 years.
The Central Government will also make an equal contribution of the same amount in the
pension fund.
Those farmers who are of the age of 18 years and above and upto 40 years are eligible to
join the scheme.
Spouses of the Small and Marginal farmers are also eligible to join the scheme separately and
they will also get separate pension of Rs.3000 when they reach the age of 60 years.
The eligible farmers can enrol in the scheme at the nearest Common Service Centre (CSC).
It can be noted that, to augment the income of the Small and Marginal Farmers (SMFs),
the government has recently launched the new Central Sector Scheme, namely, “Pradhan
Mantri Kisan Samman Nidhi (PM-KISAN)’’.
Air India first flight over North Pole from Delhi to San Francisco
On the nation’s Independence Day, Air India will become the 1st Indian airline to fly over
the North Pole while connecting New Delhi and North America. The inaugural flight over
the Polar region will take flight on August 15, 2019 and will fly from New Delhi to San
Francisco.
Saudi Aramco to buy 20% in RIL’s petro arm for $15 billion
Mukesh Ambani-led Reliance Industries announced that it was selling a 20 % stake in its
flagship oil and chemical business to Saudi Aramco for $15 billion. This will be the second-
largest foreign investment in India.
Saudi Aramco is Saudi Arabia’s national oil company which is responsible for managing
the nation’s petroleum wealth. Currently, the company is said to account for around 87 per
cent of Saudi Arabia’s budget.
Heavily influenced by the Al Saud royal family, Saudi Aramco is controlled by the Supreme
Council for Saudi Aramco (SCSA) led by crown prince Mohammed bin Salman, the nation’s
de facto ruler.
Saudi Aramco is the world’s most profitable company. With a net profit of $46.9 billion
so far this year, Saudi Aramco has made more money than Apple and Alphabet (the parent
company of Google) combined, this despite having witnessed a 12 per cent fall in half-year
net profit.
Since 2016, when Crown Prince Mohammed bin Salman took charge of the company, Saudi
Aramco is on the path of investing in non-oil sectors such as technology, part of the country’s
plan to become less dependent on petroleum.
Significance of recent deal:
This will be the second-largest foreign investment in India. Saudi Aramco’s proposed
investment in RIL is second only to the $16-billion infusion by Walmart in Flipkart in 2018.
The investment, subject to due diligence and regulatory approvals, will help RIL, India’s largest
private sector company, cut its debt of Rs 1.54 lakh crore ($22 billion).
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Saudi Aramco has been supplying crude oil to RIL’s Jamnagar refinery — the world’s
largest — for over 25 years.
Government issues guidelines for ₹1 trillion partial credit guarantee for NBFCs
Government of India has issued a scheme to provide a one-time partial credit guarantee
to PSBs for purchase of pooled assets of financially sound NBFCs.
'Partial Credit Guarantee offered by Government of India (GoI) to Public Sector Banks
(PSBs) for purchasing high-rated pooled assets from financially sound Non-Banking
Financial Companies (NBFCs)/Housing Finance Companies (HFCs)’.
The objective of scheme is to address temporary asset liability mismatches of otherwise
solvent NBFCs/HFCs without having to resort to distress sale of their assets for meeting their
commitments.
The window for one-time partial credit guarantee offered by GoI will open from the date of
issuance of the Scheme by the Government for a period of 6 months, or till such date by which
Rs. 1 lakh crore assets get purchased by banks, whichever is earlier.
Eligible NBFCs/HFCs:
The NBFCs registered with RBI under the Reserve Bank of India Act, excluding those
registered as Micro Finance Institutions and Core Investment Companies.
HFCs registered with National Housing Bank (NHB) under the National Housing Bank Act.
Micro Finance Institutions and Core Investment Companies are not covered under the
Scheme.
Now, banks can directly buy gold from depositors for monetisation plan
In a move to revive the flagging Gold Monetisation Scheme, the Reserve Bank of India
(RBI) has made it easier for depositors to hand over their holdings of Gold.
RBI has liberalised the GMS, 2015, allowing depositors to directly deposit their bullion
with either banks, refiners or Collection and Purity Testing Centres (CPTCs).
Earlier, the Banks, CPTCs and Refineries had to sign a tripartite agreement for this.
Chhattisgarh doubles OBC quota, hikes SC benefit; reservation total 22% over
ceiling
Chhattisgarh Chief Minister Bhupesh Baghel announced an increase in reservations for
OBCs and Scheduled Castes in state government jobs and education.
Chhattisgarh government will increase the quota for Scheduled Castes by 1 % while nearly
doubling reservation for OBCs from 14 % to 27 %. The quota for Scheduled Tribes remains
at 32 %.
Once in effect, it will mean Chhattisgarh will have a total of 72 % reservation (32 % for
STs, 13 % for SCs and 27 % to OBCs), the highest in the country and far above the 50 %
cap on quotas mandated by the Supreme Court.
The state government is still considering the 10% centre mandated EWS quota for the
general category. if implemented, it would take the reservation to 82 %.
Rs 5,000 will be given to those farmers having 1 acre or less agricultural land.
Rs 10,000 will be given to those farmers having 2 acres of agricultural land.
Rs 15,000 will be given to those farmers having 3 acres of agricultural land.
Rs 20,000 will be given to those farmers having 4 acres of agricultural land.
Rs 25,000 will be given to those farmers having 5 acres of agricultural land.
warm air or
warm, salty seawater, some of it from North America's Gulf Stream.
If much of the damage is from the water, there's a lot higher potential for Greenland to melt
more quickly than thought.
Water brings more heat to something frozen faster than air does. That's because 90% of
the heat energy from climate change goes into the oceans.
And that means seas rising faster and coastal communities being inundated more.
Vice President calls on the government and civil society to work hand-in-hand
to preserve India’s rich cultural heritage
The Vice President of India, Venkaiah Naidu applauded Archaeological Survey of India
(ASI) for restoring ‘Shyamoli’.
‘Shyamoli’ is the heritage house of late Rabindranath Tagore.
Shyamoli is an experimental mud-house built at Santiniketan in 1935.
The house has been recently renovated by the Archaeological Survey of India as a deposit
work and is a property of Visva-Bharati at present.
No more joy for those who make Andhra's famous Kondapalli toys
While Kondapalli toys - cultural icons of Andhra Pradesh - are growing in popularity, its
creators are being neglected.
Kondapalli Toys are the toys made of wood in Kondapalli village of Krishna district,
Andhra Pradesh. Bommala Colony translates to Toys Colony in Kondapalli is the place
where the art of crafting takes place.
It was registered as one of the geographical indication handicraft from Andhra Pradesh
as per Geographical Indications of Goods (Registration and Protection) Act, 1999.
The artisans mainly work on producing figures of mythology, animals, birds, bullock
carts, rural life etc., and the most notable one is Dasavataram, dancing dolls etc.
The artisans who make the toys are referred as Aryakhastriyas (also known as Nakarshalu),
who have their mention in the Brahmanda Purana.
Awards
Union Home Minister’s Medal for Excellence in Investigation
Appointments
Guatemala’s new president
Alejandro Giammattei has been elected as new president of Guatemala. He defeated
former first lady Sandra Torres for the president’s seat. Giammattei will succeed corruption
tainted outgoing President Jimmy Morales.
Events
9-Day National Tribal Festival “Aadi Mahotsav” ready for A Colourful Start at
Leh-Ladakh on 17th August, 2019
The 9-Day National Tribal Festival “Aadi Mahotsav” will began on 17th August, 2019 at
Polo Ground, Leh-Ladakh.
Aadi Mahotsav (National Tribal Festival) is a joint initiative of Ministry of Tribal Affairs,
Government of India & Tribal Cooperative Marketing Development Federation of India
(TRIFED).
The 9 day event will be held from 17th August till 25th August, 2019.
The theme of the festival is: “A celebration of the spirit of Tribal Craft, Culture and
Commerce”.
The event will see around 160 Tribal artisans from more than 20 states across the
country, actively participating and showcasing their masterpieces.
The event will have two reputed local cultural troupes presenting Ladakhi folk dances. The
troupes will perform:
Jabro Dance: a nomadic dance and song of people inhabiting eastern Ladakh and
Spawo dance: a heroic song and dance associated with a legendary hero of Himalayan
region called K’sar.
Important Days
Sports
Nehru Trophy Boat Race and Champions Boat League called off
Like 2018, the Kerala government has put off 2019 edition of Nehru Trophy Boat Race
(NTBR) scheduled for 17th August 2018 following heavy rains and wind.
Nehru Trophy Boat Race is a popular Vallam Kali (boat race) held in the Punnamada Lake
near Alappuzha, Kerala on the second Saturday of August every year.
The most popular event of the race is the competition of Chundan Vallams (snake boats).
Hence the race is also known as Snake Boat Race in English.
Other categories of boats such as Churulan Vallam, Iruttukuthy Vallam, Odi Vallam etc.
also participates in the competition.
It is organized by the Nehru Trophy Boat Race Society under the guidance of the district
administration.
Vembanad is the longest lake in India, which spans several districts in Kerala. It is known
as Punnamada Lake in Kuttanad, Kochi Lake in Kochi.