Important Current Affairs of 6th July

NATIONAL:

Rajya Sabha passed the Indian Medical Council (Amendment) Bill 2019.

• The Rajya Sabha passed the Indian Medical Council (Amendment) Bill, 2019 on 4 June. The Bill was introduced by Health Minister Harsh Vardhan. It allows for the supersession of the Medical Council of India (MCI) by a Board of Governors for a two-year period from 2018 till 2020. The Bill will also allow for the increase in the number of members in the Board of Governors to 12 from the existing seven. As the Bill has been passed by both Houses, it will replace an ordinance that was promulgated onFebruary21.

The panel of eminent professionals will run the scam-tainted Medical Council of India (MCI) so that medical education can be regulated in the best manner.

The BoG will have eminent people that includes directors of AIIMS and PGI, Chandigarh. The board will prevail until a council is constituted. The medical education can be regulated by the introduction of the BoGs in the best manner.

Tata Steel Kalinganagar included in WEF's Global Lighthouse Network.

• Tata Steel Kalinganagar (TSK) in World Economic Forum's (WEF) Global Lighthouse Network a community of manufacturers showing leadership in applying Fourth Industrial Revolution technologies to drive financial and operational impact.

TSK in Odisha's Jajpur district is the first and the only Indian manufacturing plant to be included in the WEF's Lighthouse Network, it said.

The addition of 10 new factories including TSK to its Global Lighthouse Network carried out.

The factors join a network of 16 existing lighthouses across multiple geographies and industries.

US clears SoftBank's $2.25 billion investment in General Motors-backed Cruise

Amazon's Jeff Bezos finalises divorce with $38 billion settlement.

They serve as beacons to guide others to overcome challenges in upgrading systems and applying cutting-edge technologies such as artificial intelligence, big data analytics and 3D printing.

The factories were selected based on their success in integrating these technologies to increase efficiency and drive innovation.

About Tata Steel

Founded: 25 August 1907, Jamshedpur

Headquarters: Mumbai

CEO: T. V. Narendran

India to sell bonds overseas for 1st time to finance budget deficit.

• The government on Friday said it will sell sovereign bonds overseas for the first time to finance the fiscal deficit. Ex-RBI Governor C Rangarajan opposed the plan saying India will have to bear the exchange-rate risk if it borrows in foreign currency. The government set the fiscal deficit target at 3.3% of GDP for FY20, from 3.4% set in February.

AGREEMENTS AND MOU’S:

Union Cabinet approved the MoU between India and Maldives for the establishment of passenger and cargo services by sea.

• The Union Cabinet approved the MoU between India and Maldives for the establishment of passenger and cargo services by sea. It was signed during the visit of Prime Minister Narendra Modi to Maldives on 8 June 2019.

Aim:

• The Ferry service would help to harness the potential opportunity in both passenger and cargo transportation by sea between the two countries. Ferry services between Maldives and Kerala is connected by Kochi with Male  and Kulhudhuffushi in Maldives by Sea route. Ferry service would contribute in a big way in promoting people to people contact and to boost bilateral trade between two nations.

• India and Maldives relation:

• India is a leading development partner of Maldives and has established many of the leading institutions of Maldives.

• Currently, India has provided $100 million Stand-by Credit Facility (SCF) to Maldives, including long-term loans and revolving credit for trade.

Maldives:

• President: Ibrahim Mohamed Solih          

• Capital: Male

• Currency: Maldivian Rufiyaa

• The Maldives is a tropical nation in the Indian Ocean

• It is composed of 26 ring-shaped atolls, which are made up of more than 1,000 coral islands

• It’s known for its extensive reefs, beaches and blue lagoons.

BANKS AND ECONOMICS:

Punjab & Sind Bank sets up centralised hub 'Cen-MARG' to process retail and MSME loans.

• Punjab & Sind Bank set up a centralized hub named "Centralised MSME & Retail Group" (Cen-MARG) for processing retail and Micro, Small and Medium Enterprises (MSME) loans for better efficiency of branches in business acquisition. It is headquartered in New Delhi.

It will ensure qualitative improvement in credit appraisal, improved turnaround time, uniform documentation, and efficient monitoring.

Cen-MARG linked with pan-India branches of the bank in a phased manner.

The bank is main aim to bring about much-enhanced customer satisfaction through this initiative.

The launch of Cen-MARG and retail credit will be performed at the Cen-MARG,

They will help branches focus better on lead generation for retail lending and MSME and enhanced customer service.

About Punjab & Sind Bank:

Headquarters: New Delhi 

MD & CEO: S Harisankar

Tag line: Where service is a way of life

APPOINTMENTS AND RESIGNATIONS:

BMW's 4-year CEO quits.

• German automaker BMW has announced that Harald Krüger has decided to not seek a second term as the CEO, after serving at the role for about four years. Krüger, a 27-year company veteran, served at the luxury carmaker's board for 10 years. This comes months after BMW posted its weakest quarterly earnings in about a decade for the first quarter.

Mindtree CEO, Chairman, and COO resign days after L&T takeover.

• Mindtree Co-Founders Rostow Ravanan, Krishnakumar Natarajan and NS Parthasarathy have resigned from the mid-sized IT company following the hostile takeover by engineering major Larsen & Toubro (L&T). The three serve as CEO, Executive Chairman, and Executive Vice Chairman and Chief Operating Officer (COO) respectively. All of them have also asked Mindtree to declassify them as promoters.

Rohit 1st batsman in history to smash 5 hundreds in a World Cup.

• India opener Rohit Sharma reached the three-figure mark against Sri Lanka off 92 balls in 2019 World Cup on Saturday to become the first-ever batsman to smash five hundreds in a World Cup. Rohit overtook ex-Sri Lanka captain Kumar Sangakkara, who slammed four hundreds in the 2015 edition. Rohit also equalled Sachin Tendulkar's record for most World Cup hundreds (six).