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Important Current Affairs of 23th May

NATIONAL:

Indra Nooyi was presented with an honorary degree by the prestigious Yale University.

• Former PepsiCo chairman and CEO Indra Nooyi was presented with an honorary degree by the prestigious Yale University, her alma mater. The degree is to recognize her achievements in business and for being a global role model who encouraged women and girls to see themselves as top corporate executives. She is celebrated for her leadership and her commitment to helping women achieve success.

• Nooyi, She received a degree in Master of Public and Private Management from the university's Yale School of Management in 1980, was presented with the Honorary Doctor of Humane Letters.

• Nooyi was among 11 individuals to be presented with the honorary degrees for achieving distinction in their fields.

Others who received the honorary degrees included author and feminist activist Gloria Steinem, wildlife researcher Cynthia Moss, entrepreneur and philanthropist Strive Masiyiwa and Harvard University president Lawrence Bacow.

Indra Nooyi:

• In 2006, Nooyi became the first woman to helm the global food and beverage giant PepsiCo. She stepped down in October 2 last year as PepsiCo's CEO, after 24 years with the company, the last 12 as CEO of the global beverage giant.

• Nooyi was recently elected to the board of Amazon, on whose audit compensation committee she sits. She is a member of the World Economic Forum board of trustees and of the American Academy of Arts and Sciences.

• She is also an independent director of the International Cricket Council and chair of the compensation committee at Schlumberger, an oilfield services company, on whose board she serves.

• One of 25 women to have led a Fortune 500 company, Nooyi has appeared frequently on the Forbes and Fortune rankings of the world's most powerful women.

Cong's Ramya Haridas becomes Kerala's second-ever Dalit woman MP.

• Ramya Haridas, Congress' Lok Sabha candidate from Alathur constituency in Kerala is set to become the second-ever Dalit woman MP from the state. She defeated senior CPI(M) leader and sitting MP PK Biju with a margin of nearly 1.59 lakh votes. The 32-year-old, who has a habit of breaking into songs during rallies, recited a poem to thank the voters.

• About Ramya Haridas:

• Ramya Haridas is an Indian politician of Indian National Congress in the state of Kerala and the daughter of All India Mahila Congress leader Radha. She currently serves as the Block panchayat President of Kunnamangalam. She will be contesting from Alathur in 2019 election as All Indian National Congress candidate.

• Born: 1987 (age 32 years), Kozhikode

• Party: Indian National Congress.

Gopal becomes first HIV-infected climber to scale Everest.

• Gopal Shrestha, a 56-year-old from Nepal's Pokhara, on Wednesday became the first HIV-infected climber to scale the world's highest peak, the Mount Everest. Shrestha, who used to play football for Nepal, climbed the peak in his second attempt after being forced to abandon his first attempt due to the deadly earthquake in Nepal in 2015.

AGREEMENTS AND MOU’s:

Assam Rifles signed the charter of affiliation with the Indian Coast Guard.

• In a first, the Assam Rifles (AR) signed the charter of affiliation with the Indian Coast Guard to enhance inter-forces cooperation and interoperability. It is a permanent affiliation of Assam Rifles with the Coast Guards.

•  The charter of affiliation was signed by the Director General (DG) of the Indian Coast Guard, Rajendra Singh and DG, Assam Rifles Lt Gen Sukhdeep Sangwan on 22 May 2019.

Main Objective:

The objective of the affiliation is to promote bilateral cooperation between the two Services and contribute to joint capacity for training, sports, adventure, and sustainable development.

The affiliation includes:

• The training will involve the exchange of information and personnel of the two Forces and building camaraderie. The two will work together in humanitarian missions and other areas.

A combat battalion of Assam Rifles will soon be training onboard ICGS Shaurya (16), an offshore patrol vessel in Chennai.

• In due course of time, arrangements will be made for the exchange of personnel including those with an understanding of Land Border Management (LBM) with Assam Rifles battalions.

Over-Seas Deployment (OSD) of AR personnel on board an ICG ship, bilateral meetings between the two forces, and participation of experts from both sides in such meetings.

ADB to provide ₹5,200 cr to electrify railway tracks in India.

• The Asian Development Bank (ADB) on Wednesday said it will provide $750 million (over ₹5,200 crore) long-term financing to electrify railway tracks in India. This is the largest single non-sovereign loan ever committed by the funding agency. Indian Railway Finance Corporation (IRFC) will use the loan to install electric traction equipment along about 3,378 kilometres of existing railway lines.

About ADB:

• The Asian Development Bank is a regional development bank established on 19 December 1966, which is headquartered in the Ortigas Center located in the city of Mandaluyong, Metro Manila, Philippines. The company also maintains 31 field offices around the world to promote social and economic development in Asia.

Wikipedia

• Headquarters: Mandaluyong, Philippines

• President: Takehiko Nakao

• Membership: 68 countries

• Founded: 19 December 1966

• Purpose: Economic development

• Subsidiaries: Asian Development Bank Institute

BANKS AND ECONOMICS:

HDFC Group Overtakes Tata Group As Indias Most Valuable.

• HDFC group overtaken the 151-year-old Tata group to emerge as India’s most valuable by way of market capitalization (m-cap).

The combined market value of the five listed companies of the HDFC group – HDFC, HDFC Bank, HDFC Life, HDFC Asset Management and Gruh Finance stood at Rs 11.66 lakh crore while the combined m-cap of 29 Tata group companies stood at Rs 11.64 lakh crore, about Rs 2,000 crore less than that of the HDFC group.

About HDFC group

CEO: Aditya Puri

Headquarters: Mumbai

Founded: August 1994, India

Subsidiaries: HDFC securities, HDB Financial Services

APPOINTMENTS AND RESIGNATIONS:

N Chandrababu Naidu resigns as CM of Andhra Pradesh.

• N Chandrababu Naidu has resigned as Andhra Pradesh CM after trends showed his Telugu Desam Party (TDP) leading in only 23 Assembly seats and winning two. YS Jagan Mohan Reddy-led YSR Congress Party (YSRCP) is leading in 138 Assembly seats and has won 12. The Legislative Party meeting of YSRCP is set to take place on May 25.

About N Chandrababu Naidu:

• Nara Chandrababu Naidu is an Indian politician who was the former Chief Minister of Andhra Pradesh serving since 2014. He was the first chief minister of the state since it was divided. Wikipedia

• Born: 20 April 1950 (age 69 years), Naravaripalli

• Spouse: Nara Bhuvaneshwari (m. 1980)

• Education: Sri Venkateswara University

• Siblings: Ramamurthy Naidu

• Parents: N. Kharjura Naidu, Amanamma Naidu

• Children: Nara Lokesh

Netflix hires its first India content IP lawyer.

• Netflix has reportedly appointed Priyanka Chaudhari as director and senior counsel for content and Intellectual Property (IP) in India. Chaudhari, who worked at Balaji Telefilms as VP-Group Legal for around two years, will be Netflix's first content IP lawyer in India, the report said. Reportedly, in her new role, Chaudhari will report to Netflix's Los Angeles office.

About Netflix:

• Netflix, Inc. is an American media-services provider headquartered in Los Gatos, California, founded in 1997 by Reed Hastings and Marc Randolph in Scotts Valley, California

• Founded: 29 August 1997, Scotts Valley, California, United States

• Films produced: Black Mirror: Bandersnatch, The Kissing Booth, MORE

• Owned by: Morgan Stanley, Reed Hastings

• Founders: Reed Hastings, Marc Randolph

• Did you know: Netflix is the world's seventh-largest internet company by revenue.

DAYS:

World Tortoise Day is observed on 23rd May.

• World turtle day is observed on 23rd May. It is sponsored yearly since 2000 by American Tortoise Rescue. The aim is to bring attention to, and increase knowledge of and respect for, turtles and tortoises, and encourage human action to help them survive and thrive. This year the day spotlights on freshwater turtles.

• The herpetologists, one who studies about amphibians and reptiles, have launched a unique initiative to gather more information about India’s freshwater turtles and tortoises.

In India:

• The India Biodiversity Portal has initiated a ‘Turtle Spotting Week’ as part of a unique exercise to document the creatures across India. The week began on 17th May and ends on 23rd May 2019.

• There are at least 28 species of freshwater turtles which can be spotted across the country and we felt that not enough attention was being given to them. Research and conservation activities in particular are limited and we wanted to encourage more people to document their findings.

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Important Current Affairs 18th May 2019

NATIONAL

Eleventh India Iran Joint Consular Committee Meeting (JCCM) in New Delhi

• India Iran Joint Consular Committee Meeting (JCCM) held in New Delhi on May 14, 2019. The Indian delegation was led by Amit Narang, Joint Secretary in Consular, Passport and Visa (CPV) division and the Iran delegation was led by Ali Asghar Mohammadi, Director General of Consular Affairs.

• The purpose of this meeting is to review the status of ongoing cooperation in consular and visa related issues and also to discuss the strategy to further expand people to people contacts and to promote friendly exchanges between India and Iran.

• Both countries have discussed some important issues between India and Iran:

Early conclusion of Agreement on Mutual Legal Assistance on civil and commercial matters.

To extend the longer duration of e-Visa for each other nationals on reciprocity.

• About Iran

♦ Capital: Tehran

♦ Currency: Iranian Rial

Indian Navy conducted missile tests to boost its anti air warfare capabilities

• The Indian Navy conducted significant missile tests boosting its anti-air warfare capabilities. The first cooperative engagement firing of the Medium Range Surface to Air Missile (MRSAM) or Barak-8 was held on the Western Seaboard.

• The firing was undertaken on the western seaboard by the INS Kochi and the INS Chennai wherein the missiles of both ships were controlled by one ship to intercept different aerial targets at extended ranges. Interestingly, one of the ships controlled the complete mission through its automated data links. The firing trials were carried out by Indian Navy, Defence Research and Development Organisation (DRDO) and the Israel Aerospace Industries (IAI).

• This was achieved by network-centric operations that helped to combine the capabilities of all military platforms in a formation. The MRSAMs are fitted onboard the Kolkata Class Destroyers. These would also be fitted on all future major warships of the Indian Navy.

Kerala State to go paperless under E Vidhan initiative

• The Kerala State Assembly is undertaking E-Vidhan, an initiative to digitize all records. The first phase of the project is expected to be completed in 14 months. The project is expected to cost aroundRs.40 crore.

•  Once the project is completed, all the Assembly proceedings like submission of notice by a member, question and answers, and all the other correspondence and business concerning the Assembly will go paperless.

• Uralungal Labour Contract Cooperative Society:

•  The state has awarded the work to Cyberpark, which is run by the Uralungal Labour Contract Cooperative Society.

• It has started working on the ambitious project, E-Vidhan to enable the state legislature to go completely paperless.

• Benefits of E-Vidhan:

• The Assembly handles hundreds of various committee reports, Bills, notices, and various other reports which demand massive paperwork. E-Vidhan will completely get rid of paper in all the business transacted by the Assembly.

• The functioning of various departments linked to the Assembly and library will also be made paperless as part of the project.

• It will save around 35 crore to 49 crore annually as the state has been spending around 40 crore for taking tonnes of paper printouts. 

INTERNATIONAL:

Kami Rita sets record by scaling Mount Everest for the 23rd time

• A Nepalese Sherpa climber Kami Rita has scaled Mount Everest for a 23rd time, breaking his own record for the Most successful ascents of the world's highest peak. Rita reached the 8,850-metre (29,035-feet) summit with other climbers via the Southeast Ridge route.

• His latest ascent took him two summits clear of two fellow Sherpas, who have successfully climbed the peak 21 times.

About Kami Rita Sherpa:

• Rita belongs to Thame village of Solukhumbu district in Nepal. Rita first scaled Everest in 1994and has been making the trip nearly every year since.

•In 2017, Kami became the third person to climb Mount Everest for the 21st time. With this, he matched the achievement of Phurba Tashi Sherpa and Apa Sherpa, both of them, have retired since then. In 2018 he summited the Mt. Everest 22nd time in 2018 and set a record of most summits on Mount Everest.

Who are Sherpa climbers?

Sherpa is one of the ethnic groups native to the most mountainous regions of Nepal and the Himalayas.

APPOINTMENTS:

Ujjivan Small Finance Bank appointed Nitin Chugh as MD and CEO

• Ujjivan Small Finance Bank appointed Nitin Chugh as its Managing Director (MD) and Chief Executive Officer (CEO) for a period of 3 years from December 1, 2019.

• The present MD and CEO Samit Ghosh’s tenure will end on November 30, 2019.

Currently, Nitin Chugh is Group Head of Digital Banking of HDFC Bank.

• About Ujjivan Small Finance Bank

♦ Headquarter: Bengaluru, Karnataka

♦ Tagline: We belive in your belief

DAYS:

International Museum Day is observed on 18th May

• International Museum Day (IMD) is an international day that is celebrated on 18th May every year. It is coordinated by the International Council of Museums (ICOM). The objective of International Museum Day (IMD) is to raise awareness of the fact that, Museums are an important means of cultural exchange, enrichment of cultures and development of mutual understanding, cooperation and peace among peoples. The theme for International Museum Day (IMD) 2019 is Museums as Cultural Hubs: The future of tradition.

History:

• IMD was officially established in 1977 with the adoption of a resolution during the ICOM General Assembly in Moscow, Russia to create an annual event with the aim of further unifying the creative aspirations and efforts of museums and drawing the attention of the world public to their activity.

• ICOM suggested a theme for the first time in 1992: Museums and Environment.

• Museums in the Society:

• The role of museums in society is changing. Museums keep reinventing themselves in their quest for becoming more interactive, audience focused, community oriented, flexible, adaptable and mobile. They have become cultural hubs functioning as platforms where creativity combines with knowledge and where visitors can also co-create, share and interact.

• At once a focal point for the community and an integral part of a global network, museums offer a platform for translating local communities needs and views into a global context.

• About ICOM:

Formed on: 1946

Location: Paris, France

• The purpose of ICOM is Conservation, continuation and communication to society of the world's natural and cultural heritage.

 World AIDS Vaccine Day is celebrated on 18th May

• May 18 is celebrated as World AIDS Vaccine Day, also known as HIV Vaccine Awareness Day. On this day, HIV vaccine advocates promote the continued urgent need for a vaccine to prevent HIV infection and AIDS. World AIDS Vaccine Day observance is headed by the National Institute of Allergy and Infectious Disease (NIAID).

• This day provides a chance to thank several volunteers, community members, health professionals and scientists those who are working and researching to find a safe and effective HIV vaccine for prevention.

HIV research also includes efforts to develop a vaccine for HIV treatment (called a therapeutic vaccine). A safe and effective therapeutic HIV vaccine could prevent HIV from advancing to AIDS, replace daily use of HIV medicines, and help eliminate HIV from the body.

NIAID:

Formed on: 1955

Headquarters: Maryland, US

NIAID is one of the 27 institutes and centers that make up the National Institutes of Health (NIH), an agency of the United States Department of Health and Human Services (HHS).

NIAID's mission is to conduct basic and applied research to better understand, treat, and prevent infectious, immunologic, and allergic diseases.

SPORTS:

Sourav Ganguly and Sanjay Manjrekar inducted in ICC commentary panel for World Cup 2019

• Former Indian cricketers Sourav Ganguly and Sanjay Manjrekar are inducted into the International Cricket Council’s (ICC) commentary panel for World Cup 2019. World Cup 2019 will begin from May 30, 2019 in England and Wales.

• The debut commentary will be made by Michael Clarke, former Australian batsman, who was the captain of the 2015 World Cup winning team and Nasser Hussain, Ian Bishop, Kumar Sangakkara, Michael Atherton, Brendon McCullum, Graeme Smith and Wasim Akram are also the part of panel.

• Other commentrators of the tournament are Shaun Pollock, Michael Slater, Mark Nicholas, Michael Holding, Isa Guha, Pommie Mbangwa, Harsha Bhogle, Simon Doull, Ian Smith, Ramiz Raja, Athar Ali Khan, and Ian Ward.

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Important Current Affairs of 15th May

NATIONAL:

India to co-chair 2020 CG of Global Facility for Disaster Reduction and Recovery.

• India was unanimously chosen by member countries as next co-chair of Consultative Group (CG) of Global Facility for Disaster Reduction and Recovery (GFDRR) for the fiscal year 2020. This decision was taken during Consultative Group meeting of GFDRR 2019 held from 13 May- 17 May in Geneva, Switzerland. This is the first time that India has been given the opportunity of co-chairing CG meeting of GFDRR.

• The Consultative Group meeting held in Geneva was the 6th Session of GPDRR 2019. The CG Meeting 2019 was co-chaired by the European Union (EU), Africa Caribbean and Pacific (ACP) Group of States, and World Bank.

GFDRR in cooperation with the UN Office for Disaster Risk Reduction (UNDRR) and EU also organized the 4th edition of World Reconstruction Conference (WRC) on May 13-14, 2019 in Geneva.

• The participants included experts, policymakers, leaders, and practitioners from various government, international organizations, academia, private sector and NGOs from both developing and developed countries.

• India and GFDRR:

In 2015, India became a member of Consultative Group (CG) of GFDRR. At the 5th session of GFDRR held in October 2018, Indiaexpressed its interest to co-chair the meet.

• India's candidature was backed by member countries because of India's consistent progress in disaster risk reduction (DRR) and also various initiatives it has undertaken to form a coalition on disaster resilient infrastructure.

Paytm Partners With Citibank To Launch 1st Credit Card- Paytm First Card.

• Digital payments company Paytm, in association with Citibank, launched its first credit card called Paytm First Card.

Paytm First Card comes with unlimited cash back and will be accepted in India as well globally.

The card is issued by Citibank and doesn’t involve any hidden fees or charges.

India had world's highest child mortality rate in 2015: Lancet study

• India had more deaths among children under five than any other country in 2015, with large disparities in the child mortality rate between richer and poorer states, a Lancet study has found. The researchers at the Johns Hopkins Bloomberg School of Public Health in the US analysed state-level Indian data on the causes of death among children under five for the years 2000-2015. They found that India made great progress during the period, reducing annual mortality among children under five from 2.5 million in 2000 to 1.2 million in 2015 - which was still the highest in the world.

BANKS AND APPOINTMENTS:

Yes Bank falls 9% after RBI appoints director in rare move.

• Shares of Yes Bank plunged up to 9% on Wednesday, falling to its lowest since November 2018. This came following the Reserve Bank of India's (RBI) appointment of former Deputy Governor R Gandhi as an additional director on the private lender's board in a rare move. The appointment comes days after Yes Bank reported a fourth-quarter loss of ₹1,507 crore.

APPOINTMENTS AND RESIGNATIONS:

RBI appointed R.Gandhi as Additional director of Yes Bank.

• The Reserve Bank of India has appointed its former Deputy Governor R. Gandhi as an additional director on the board of private sector lender Yes Bank with immediate effect. The appointment is for two years, that is till May 13, 2021.

R. Gandhi’s appointment comes against the backdrop of Yes Bank reported a loss of ₹1,507 cr for March quarter. This appointment will significantly strengthen Yes Bank's Board Composition and the Bank will immensely benefit from R. Gandhi's experience and wisdom at the Yes Bank.

• Mr.R.Gandhi:

Gandhi was RBI Deputy Governor during April 2014 and April 2017. Gandhi was the driving force for the design and implementation of  real-time gross settlement system or RTGS.

• About Yes Bank:

Founded on: 2004

Founder: Rana Kapoor, Ashok Kapur

Headquarters: Mumbai, Maharashtra

Chairman: Brahm Dutt

MD & CEO: Rana Kapoor

Yes Bank is India's 4th largest private sector Bank.

AIFF Appoints Igor Stimac As Indian Football Team Coach.

• The Indian football team has been without a coach since the departure of Stephen Constantine in January.

• Croatia's Igor Stimac has been appointed the head coach of the Indian football team for a two-year term, the All India Football Federation announced on Wednesday.

• The official announcement was made on the Indian Football Team.

• Igor stimac:

• he was part the of the Croatia team that finished third in the 1998 World Cup, and a member of the national squad which qualified for the quarterfinals of the UEFA European Championship 1996 (Euro) in England.

• Besides, he was also a part of the Yugoslavia U-19 national team which won the FIFA U-20 World Cup in 1987. 

• Stimac's major achievement was guiding Croatia to qualify for the 2014 FIFA World Cup in Brazil. During his tenure as the national coach of Croatia, he handed debuts to the likes of Mateo Kovacic, Ante Rebic, Alen Halilovic, and Ivan Perisic, amongst others.

• His last assignment was with Al-Shahania Club in Qatar.

All India Football Federation:

• The All India Football Federation, also simply known as the AIFF

• is the governing body of association football in India.

• Formed in 1937, the federation was one of founding members of the Asian Football Confederation, the overseer of football in Asia.

Maj Gen Dhingra appointed 1st chief of Armed Forces Special Ops.

• Sri Lanka Civil War veteran Major General AK Dhingra has been appointed as the first Chief of the Armed Forces Special Operations Division. The formation will have Special Forces commandos from the Army's Parachute Regiment, Navy's MARCOS and Air Force's Garud Commando Force. The forces will be trained together and will be tasked in dealing with specific operations.

ARMED FORCES SPECIAL OPS DIVISION:

•  The Armed Forces Special Operations Division has been set up by the government to undertake joint operations by three services and will have elements from the Army's Parachute Regiments SF, Marine Commandos (MARCOS) of the Navy and the Garud Commandos of the Indian Air Force

Myntra-Jabong hires former YouTube exec as marketing head.

• E-commerce major Flipkart-owned fashion e-tailer Myntra-Jabong has appointed former YouTube executive Harish Narayanan as head of marketing. Narayanan will be taking over from Mithun Sundar, who currently heads revenue and marketing, and will report directly to Myntra-Jabong head Amar Nagaram. The IIM Lucknow alumnus headed B2B marketing for YouTube Asia-Pacific for over 2.5 years

DAYS:

International Day of Families is observed on 15 May.

• The International Day of Families (IDF) is observed on the 15th of May every year. The Day was proclaimed by the UN General Assembly in 1993. The day reflects the importance the international community attaches to families. It was first observed in 1996.

The International Day provides an opportunity to promote awareness of issues relating to families and to increase knowledge of the social, economic and demographic processes affecting families. On this day, people across the world celebrate spending time with their families and reuniting with family members.

The theme for IDF 2019 is Families and Climate Action: Focus on SDG 13.

The SDG 13 targets include:

• Improve education, awareness-raising and human and institutional capacity on climate change mitigation, adaptation, impact reduction, and early warning

• Integrate climate change measures into national policies, strategies, and planning.

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Important Current Affairs 14th May 2019

NATIONAL:

NABARD launched Nab Ventures- its maiden fund to give support to agriculture, food, rural startups.

• NABARD (The National Bank for Agriculture and Rural Development), Nab Ventures notified its first time funding termed ‘NAB VENTURES Fund I‘ which is a Rs 700-crore venture capital fund for equity investments to provide support for agriculture, food and rural startups (which would help improve rural livelihoods)

The fund has a proposed corpus of Rs 500 crore has a greenshoe option of Rs 200 crore and has received an anchor commitment from NABARD.

The a forementioned fund is registered with SEBI as a Category II Alternative Investment Fund and would raise the resources from domestic and global investors.

India's GS Lakshmi becomes first ever female ICC match referee.

• India's GS Lakshmi has become the first ever woman to be appointed to the ICC International Panel of Match Referees and will be eligible to referee international games with immediate effect. The 50-year-old first officiated as a match referee in domestic women's cricket in 2008/09. Lakshmi has overseen three women's ODI matches and three women's T20I matches.

NABARD subsidiary announces 700 cr fund for rural startups.

• Nabventures, a subsidiary of National Bank for Agriculture and Rural Development (NABARD) has announced a 700-crore venture capital fund for investments in agriculture, food and rural-focused startups. The fund has a proposed corpus of 500 crore with an option to retain over-subscriptions of 200 crore. Till now, NABARD has contributed 273 crore to 16 alternate investment funds.

INTERNATIONAL:

GTA publisher Rockstar Games buys KBC game maker Dhruva.

• Grand Theft Auto publisher Rockstar Games has acquired Swedish developer Starbreeze AB's 91.82% stake in Bengaluru-headquartered video game studio Dhruva Interactive for over ₹55 crore. Founded in 1997 by Rajesh Rao, Dhruva Interactive is claimed to be India's first-ever game development studio. It is best known for its games Kaun Banega Crorepati, N64 Mission: Impossible and Forza Horizon.

AGREEMENTS AND MOUS:

Iran's Foreign Minister meets Swaraj in India amid US sanctions.

• Iran's Foreign Minister Javad Zarif met his Indian counterpart Sushma Swaraj in Delhi on Tuesday during his two-day visit to the country. His visit comes amid increased tensions with the US in the wake of renewed sanctions. India has reportedly stopped imports of Iranian oil after the US withdrew waivers granted to nations on the imports.

BANKS AND ECONOMICS:

HDFC ERGO General Insurance Company launched Mosquito Disease Protection Policy which will cover people against common mosquito-borne diseases.

• India’s 3rd-largest non-life insurance provider in the private sector, HDFC ERGO General Insurance Company launched a scheme termed ‘Mosquito Disease Protection Policy’ which will cover a person against common mosquito-borne diseases, namely, Dengue Fever, Malaria, Chikungunya, Japanese Encephalitis, Kala-azar, Lymphatic Filariasis and Zika Virus.

• These mosquito-borne diseases lead to financial burden due to hospitalization or affect the No Claim Bonus of any conventional Health Insurance.

• The policy by HDFC ERGO will cover hospitalization expenses. The policyholder may opt for a huge amount to be paid as a policy benefit on offering the proof of hospitalization.

The policy will also pay the beneficiary the sum insured if in case of the policyholder dies due to the disease.

• This policy also provides international cover to people and also covers all the vector-borne diseases listed in the policy document.

• The policy cover will be available for people between the age of 91 days to 65 years.Along with these benefits, the policyholders will have access to different wellness

• services, namely, discounts and specialized programs like health tips, diet consultation and other programs offered on the health mobile application of HDFC (Housing Development Finance Corporation Ltd.) ERGO.

Allahabad Bank reduced 0.05% points in benchmark lending rate.

• State-owned Allahabad Bank announced a reduction in benchmark lending rate by 0.05 percentage points across various tenors. The marginal cost of funds-based lending rate (MCLR) for a one-year loan has been reduced to 8.60% from 8.65%effective May 14.

Most of the loans including housing loans are benchmarked against MCLR for one year.

Revised MCLR:

• 1 month:  8.20%

• 3 months: 8.40%

• 6 months: 8.45%

Wholesale inflation eases to 3.07% in April.

• India's inflation measured by the Wholesale Price Index (WPI) eased to 3.07% in April from 3.18% in the previous month, driven by a fall in prices of fuel and manufactured items. However, inflation in food articles stood at 7.37%, up from 5.68% in March. This comes after India's retail inflation in April rose to a 6-month high of 2.92%.

APPOINTMENTS AND RESIGNATIONS:

LIC Mutual Fund appointed Dinesh Pangtey as CEO.

• LIC Mutual Fund appointed Dinesh Pangtey as the company's Chief Executive Officer (CEO).

• He joined LIC as a direct recruit officer in 1984

He was Director and CEO at LIC Group's private equity division LIC HFL AMC. He also served as Regional Manager Marketing channel in Western Zone spanning the states of Maharashtra, Gujarat and Goa.

• He has more than 35 years of experience across private equity, life pension, group annuation scheme and insurance sector.

Jet Airways CEO Vinay Dube resigns with immediate effect.

• Jet Airways CEO Vinay Dube has resigned from the grounded airline with immediate effect due to "personal reasons". The development comes just a day after Deputy CEO and Chief Financial Officer of the company Amit Agarwal resigned, also citing personal reasons. Jet Airways, which suspended its operations indefinitely, has only received a bid from Etihad Airways for a minority stake.

Jet Airways CFO Amit Agarwal resigns due to personal reasons.

• Debt-ridden carrier Jet Airways' Chief Financial Officer (CFO) and Deputy Chief Executive Officer Amit Agarwal has resigned from his positions at the airline, the company said in a statement on Tuesday. "[He] has resigned from services of the company due to personal reasons, with effect from May 13," the airline said. Agarwal had joined the airline in December 2015.

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Important Current Affairs of 11th May

NATIONAL:

The man with all the toys: Why Mukesh Ambani bought Hamleys.

• India's richest man has sealed another deal in his battle with Amazon and Walmart for India's online retail market, which a Morgan Stanley estimate sees at $200 billion by 2028.

• On Thursday, Reliance agreed to purchase the 259-year-old British toy store chain Hamleys from C.Banner International Holdings for $88.5 million in cash in a transaction that will “catapult Reliance Brands to be a dominant player in the global toy retail industry,” said a statement.

• The 62-year-old businessman is quietly piecing together a network of partners through stake purchases or outright acquisitions in his push for consumer business, which Ambani says will contribute nearly as much as to the conglomerate’s total earnings as its core energy business by the end of 2028.

Ex-Flipkart execs' unicorn Udaan gets ₹139 crore from parent.

• Bengaluru-based B2B online marketplace Udaan has raised over ₹139 crore from Singapore-based parent firm Trustroot Internet. The parent entity has invested over ₹400 crore in Udaan in past five months. Founded in 2016 by former Flipkart executives Sujeet Kumar, Vaibhav Gupta and Amod Malviya, Udaan had achieved the 'unicorn' tag with a billion-dollar valuation within just 26 months of launch.

INTERNATIONAL:

Uber falls below $70bn value on 1st trading day, CEO blames trade war.

• Uber ended its first day of trading with a market cap of $69.7 billion, below its last private valuation of $76 billion. CEO Dara Khosrowshahi said US-China trade tensions played a role in the stock's weak performance, adding, "You can't pick when you go public". Uber priced its IPO at $45 per share, valuing the company at $75.5 billion.

Japan tests world's fastest bullet train capable of 400 kmph speed.

• Japan has started testing world's fastest bullet train, the 'ALFA-X' version of the Shinkansen train, capable of reaching 400 kmph speed. It will be tested twice a week after midnight between Sendai and Aomori, which are around 280 kilometres apart. On entering operation, it will run at up to 360 kmph, outpacing China's Fuxing train, which runs 10 kmph slower.

BANKS AND ECONOMICS:

RentoMojo raises ₹77 crore funding co-led by Accel, Chiratae.

• Bengaluru-based furniture and appliance rental startup RentoMojo has raised ₹77 crore in the first tranche of its Series C funding round, regulatory filings revealed. The funding was co-led by Chiratae Ventures and Accel Partners and also saw participation from existing investor Bain Capital. RentoMojo was founded in 2014 by IIT Madras graduates Geetansh Bamania and Ajay Nain.

DAYS:

India celebrates National Technology Day on 11th May.

• National Technology Day is observed every year on the 11th of May in India. It is a reminder of the anniversary of Shakti. The aim of the celebration is to highlight the achievements of the scientists and engineers of India in the field of science and technology.

It also helps to encourage students towards science and technology field.

• Shakti:

The first nuclear test Pokhran with a codenamed as ‘Smiling Buddha’ was carried out in May 1974. The second test conducted was Pokhran II which was a series of five tests of nuclear bomb explosions, administered by India at the Pokhran Test Range of Indian Army in May, 1998.

Pokhran II comprised of five detonations out of which the first one was a fusion bomb while the other four were fission bombs. These nuclear tests evolved various sanctions against India by many major states, including the United States and Japan.

• Why the day is celebrated?

On 11th of May, 1998, India victoriously test fired the nuclear missile, Shakti-I at the Pokhran Test Range of Indian Army in Rajasthan in an operation administered by late president and aerospace engineer Dr. APJ Abdul Kalam. After two days, the country victoriously tested two additional nuclear weapons.

Following this, Prime Minister Atal Bihari Vajpayee announced India as a nuclear state, making it sixth country in the world that has joined the nations “nuclear club” and the first country that was not party to the Non-Proliferation of Nuclear Weapons Treaty (NPT). NPT is a global treaty signed by the UK, Russia, China, France, and the US which has the objectives to prevent the increase of nuclear weapons and attain nuclear disarmament.

AWARDS:

Actress Anne Hathaway receives star on Hollywood Walk Of Fame.

• Oscar-winning actress Anne Hathaway on Thursday was honoured with a star on the Hollywood Walk Of Fame in Los Angeles, US. Thanking her fans, she said, "I'm really very moved by every aspect of this." Anne was accompanied by her husband actor-producer Adam Shulman, her mother actress Kate McCauley, as well as her co-stars from her upcoming film 'The Hustle'.

SPORTS:

Harbhajan Singh 3rd Indian to claim 150 IPL wickets.

• Chennai Super Kings spinner Harbhajan Singh became the third Indian cricketer to claim 150 or more wickets in the history of Indian Premier League. Delhi Capitals' Amit Mishra with 157 wickets in 147 matches and Kolkata Knight Riders' Piyush Chawla, with 150 wickets in 157 matches, are the only two other Indians who have reached the mark.

World no. 3 Halep beats Bencic to reach 4th Madrid Open final.

• World number three Simona Halep defeated Belinda Bencic to reach her fourth Madrid Open final. Halep won the match with a scoreline of 6-2, 6-7(2-7), 6-0 in one hour and 57 minutes. The final will also be Halep's first of 2019. Bencic had defeated world number one Naomi Osaka in the quarter-finals.

Roger Federer beats Gael Monfils in Madrid to claim 1,200th win.

• Roger Federer on Thursday became the second player in Open Era (since April 1968) to record 1,200 match wins. The 20-time Grand Slam champion saved two match points against France's Gaël Monfils before clinching the match after a final-set tiebreak to reach quarterfinals of Madrid Open. Notably, the 37-year-old is playing in his first tournament on clay since May 2016.

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Important Current Affairs of 10th May

NATIONAL:

BharatPe launches UPI Bahi Khata for merchants for seamless networking and business expansion.

• India’s first Fintech (Financial technology) start-up enabling payments via interoperable UPI(Unified Payments Interface) QR (Quick Response) codes, BharatPe notified its venture into merchant services by launching a new app UPI Bahi Khata that allows merchants to keep a track of  their cash/credit (Udhar) sales customer wise, to request the accounts receivable from customers through SMS (Short Message Service) payment links or through WhatsApp and to record accounts that are payable to suppliers.

• The newly launched app also helps the merchants to network and collaborate with other BharatQR merchants near them to expand their businesses.

The major features on BharatPe app for merchants are: UPI Khata (Ledger), Managing Supplier Bills, Cashback, Settlements and Refer and Earn.

Water storage level of 91 major reservoirs of the country goes down by one percent.

• The water storage available in 91 major reservoirs of the country for the week ending on May 09, 2019 was 38.734 BCM, which is 24% of total storage capacity of these reservoirs. This percentage was at 25 for the week ending on May 02, 2019. The level of water storage in the week ending on May 09, 2019 was 116% of the storage of corresponding period of last year and 105% of storage of average of last ten years.

• The total storage capacity of these 91 reservoirs is 161.993 BCM which is about 63% of the total storage capacity of 257.812 BCM which is estimated to have been created in the country. 37 Reservoirs out of these 91 have hydropower benefit with installed capacity of more than 60 MW.

AGREEMENTS AND MOUS:

WTO Ministerial Meeting of Developing Countries in New Delhi.

• A WTO Ministerial meeting of developing countries is being hosted by India in New Delhi on 13-14 May 2019.  Sixteen developing countries, Six Least Developed Countries (LDC)(Argentina, Bangladesh, Barbados, Benin, Brazil, Central African Republic (CAR), Chad, China, Egypt, Guatemala, Guyana, Indonesia, Jamaica, Kazakhstan, Malawi, Malaysia, Nigeria, Oman, Saudi Arabia, South Africa, Turkey, Uganda)and DG, WTO are participating in the meeting.

• Ministers from Bangladesh, CAR and South Africa have confirmed their participation. Vice Ministers, senior officials and ambassadors willbe representing other countries.

India and China sign protocol for Export of Indian Chilli Meal.

• Commerce Secretary, Anup Wadhawan and Vice Minister, General Administration of Customs of China (GACC), Li Guo, held a meeting in New Delhi today to discuss trade related issues of pending Indian request for clearance of agricultural products.

• Both sides appreciated each other’s concerns and agreed to resolve market access issues expeditiously in order to achieve the vision of the leaders of both India and China by promoting a more balanced trade.

• At the end of the meeting a protocol was signed for export of chilli meal from India to China.

20th Conference of Regional Heads of Customs Administration (RHCA) of Asia Pacific Region of the World Customs Organisation (WCO) concludes in Kochi.

• The Central Board of Indirect Taxes and Customs (CBIC) had organised a Conference of the Regional Heads of Customs Administration of Asia Pacific Region of the World Customs Organisation (WCO) in Kochi from 08th to 10th May, 2019. India hosted this Conference in its capacity as Vice-Chair of the Asia Pacific Region of WCO which it assumed on 1st July, 2018 for a two-year period.

• The Conference took stock of the progress made in carrying forward the programmes and initiatives of WCO to promote, facilitate and secure cross-border trade in the Region and the capacity building and technical assistance required by Member Administrations to achieve these goals.

WTO Ministerial Meeting of Developing Countries in New Delhi.

• A WTO Ministerial meeting of developing countries is being hosted by India in New Delhi on 13-14 May 2019.  Sixteen developing countries, Six Least Developed Countries (LDC)(Argentina, Bangladesh, Barbados, Benin, Brazil, Central African Republic (CAR), Chad, China, Egypt, Guatemala, Guyana, Indonesia, Jamaica, Kazakhstan, Malawi, Malaysia, Nigeria, Oman, Saudi Arabia, South Africa, Turkey, Uganda)and DG, WTO are participating in the meeting.

• Ministers from Bangladesh, CAR and South Africa have confirmed their participation. Vice Ministers, senior officials and ambassadors willbe representing other countries.

BANKS AND ECONOMICS:

Flipkart gives ₹700cr ESOPs to senior, mid-level staff: Report.

• Bengaluru-based e-commerce platform Flipkart has reportedly issued around $100 million (₹700 crore) worth of Employee Stock Ownership Plan (ESOP) to its senior and middle-level staff. Employees have been allotted these new shares at a price of $125-$130 per unit, the report claimed. The Walmart-owned company is also considering an Initial Public Offering (IPO) for 2021, the report further added.

Uber raises $8.1 billion in IPO, valued at $82 billion.

• Ride-hailing giant Uber priced its IPO shares at $45 apiece to raise $8.1 billion at a valuation of over $82 billion. Shares were priced close to the bottom of its targeted $44-50 range. Uber, which was earlier said to be seeking a valuation of $120 billion, has reportedly taken a conservative stance over its rival Lyft's post-IPO share falls.

APPOINTMENTS AND RESIGNATIONS:

Change of Command at Air Force Station Faridabad.

• Group Captain Chandra Shekhar Bhatt took over the command of Air Force Station Faridabad from Group Captain Kaushik Das. The change of command took place in a Ceremonial parade at Station Parade ground.

• Group Captain Bhatt was commissioned in the Logistics branch of IAF in 1990. During his career, the officer has held various appointments in Operational bases and Depots. For his distinguished service, the officer has been commended by Air Officer Commanding-in-Chief (AOC-in-C) and Chief of the Air Staff (CAS).

Ajoy Mehta appointed as Chief Secretary of Maharashtra.

• Brihanmumbai Municipal Corporation (BMC) commissioner Ajoy Mehta has been appointed as the new Chief Secretary of Maharashtra. He will succeed UPS Madan who has been named as the special advisor to Maharashtra Chief Minister Devendra Fadnavis. A 1984-batch IAS officer, Mehta holds.

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Important Current Affairs 6th May 2019

NATIONAL:

DPIIT recommends relaxation in Income Tax rules to facilitate fundraising by start-ups.

• The Department for Promotion of Industry and Internal Trade (DPIIT) brought relaxation in the income tax rules related to residential properties’ sale and carry-forward of losses, in order to facilitate fundraising by start-ups.

• The relaxation laws are part of the ‘Startup India Vision 2024‘ that’s been prepared by the DPIIT.

• The DPIIT recommended amendments in Section 54GB of the Income Tax Act, that is, capital gain on transfer of residential property not to be charged in certain cases and Section 79 that states, carry forward and set off of losses would be done for specific companies.

• The DPIIT has proposed to reduce shareholding requirements of founders from 50% to 20% and compulsory tenure from 5 years to 3 years.

• Start-up promoters need to hold 100% shares for carrying forward of losses.

Startup India, launched in January 2016 is the flagship initiative of the government.

It intends to build a strong ecosystem for the growth of start-up businesses for driving sustainable economic growth and increase employment opportunities.

Bandana sets Guinness World Records on Longest Dancing Marathon by an Individual.

• An 18-year old girl from Nepal named Bandana set a Guinness World Records on'Longest Dancing Marathon by an Individual'. She danced exclusively to Nepalese music continuously for 126 hours (over five days).

• She broke the record set by India's Kalamandalam Hemlatha, who danced continuously for 123 hours and 15 minutes in 2011.

She performed classical dance form Mohiniyattam and set the record at age of 37.

BigBasket receives $150 million in funding, becomes the newest unicorn.

• Supermarket Grocery, which runs and operates the online grocery brand BigBasket, has received $150 million in a financing round led by South Korea’s Mirae Asset- Naver Asia Growth Fund, UK’s CDC Group, and existing investor Alibaba, said the company on Monday.

• This round has boosted the company’s valuation to over $1 billion, pushing it to the coveted ‘unicorn’ club.

INTERNATIONAL:

US to hike tariffs on USD 200 bn of Chinese goods.

• President Donald Trump announced on 5th May that the U.S. would raise tariffs on $200 billion of Chinese goods to 25% from 10th May because trade talks are moving too slowly, as they attempt to renegotiate. Mr.Trump’s action came ahead of the arrival of a major Chinese delegation to Washington for the latest round of talks around, it is believed, could possibly lead to a deal.

• For 10 months, China has been paying Tariffs to the USA of 25% on 50 Billion Dollars of High Tech, and 10% on 200 Billion Dollars of other goods. 10% will go up to 25%. The two sides have imposed tariffs on $360 billion in two-way trade since 2018. But Mr.Trump and Chinese leader Xi Jinping agreed to a truce in December to refrain from further escalation.

• The two sides have imposed tariffs on USD 360 billion in two-way trade since 2018. But Trump and Chinese leader Xi Jinping agreed to a truce in December to refrain from further escalation. Trump said that he wants to reduce the huge US trade deficit with China, which in 2018 totalled $378.73 billion if trade in services is included.

• Besides a greater opening of the Chinese market to US goods, Trump is pressing for structural changes such as Beijing ending its practice of forcing US companies that operate in China to share their technology. Trump is also demanding that China halt theft of intellectual property and subsidies to state-owned companies.

Oil tumbles, China stocks plunge over 4% after Trump vows tariff hike.

• Global financial markets tumbled on Monday after US President Donald Trump unexpectedly jacked up pressure on China to reach a trade deal, saying he would hike US tariffs on Chinese goods this week.

• Equity markets, which had been largely expecting a trade accord, fell sharply across export-reliant Asia as further talks were thrown into doubt.

• Chinese shares plunged more than 4% at one point, while US stock market futures fell close to 2 %. Oil prices plunged and the Chinese yuan tumbled.

BANKS AND ECONOMICS:

Yes Bank slips 3 notches to 10th spot as most valued bank.

• Private lender YES Bank Ltd has slipped three notches to 10th spot, in terms of market valuation, for the first time, as its shares slumped over 30% in the last four sessions after the bank reported a surprise net loss in its March quarter earnings.

• YES BANK is now the 10th most valued bank from seventh earlier, slipping below market valuation of state-run lenders - Bank of Baroda and Punjab National Bank.

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Important Current Affairs of 5th May

NATIONAL:

ISRO planning to send a probe to study sun early next year

• Indian Space Research Organizationis planning to send a probe to study the sun early next year.ISRO chairman Dr K Sivan currently scientists are exploring possibilities to study more about Sun and the probe named Aditya-L1 will be sent to observe the solar corona, the outer layers of the Sun.

• The satellite would be ed in a halo orbit around the L1 (Lagrangian point 1) of the Sun-Earth system so that it has the advantage of continuously viewing the Sun without any occultation or eclipses.

• The L1 is 1.5 million kms from t the mission to send Indian astronauts to space by 2022 is well on stream. The provided by ISRO, officials were able to forecast the landfall area and this helped in taking precautionary measures in advance.

NHA sets up unit to boost innovations

• The National Health Authority (NHA), the implementing body for the Ayushman Bharat-Pradhan Mantri Jan Arogya Yojna (AB-PMJAY), has set up a unit to promote innovations that reduce dependence on imported technologies to make quality health care affordable.

• The NHA “innovation unit” comprises a four-member team that will sift through applications from start-ups, including organisations and individuals, offering technologies that lower cost. Ayushman Bharat is the Modi government’s flagship public health insurance scheme.

• “Lot of start-ups offer affordable health care by innovating on expensive technologies that exist. Many have approached us with proposals to develop cost-effective machines, gadgets, diagnostic kits, data privacy technology etc to bring down the cost significantly,” said Dinesh Arora, deputy CEO, Ayushman Bharat.

Odisha death toll in Cyclone Fani rises to 16; Puri without power, water

• A day after Cyclone Fani wreaked havoc at the pilgrim town of Puri with wind speed in excess of 220 km per hour, the district administration still grappling with the devastation which includes damage to parts of the Jagannath temple.

• So far 16 people across Odisha have been killed in the cyclone due to wall collapse, falling of trees and flying debris. But officials said the death toll may go up as rescuers are unable to reach several places of the coastal districts which are still inaccessible.

• “Till now we are unable to reach disconnected blocks like Krushnsprasad, Bramhagiri and Astaranga. Though we have managed to somehow clear the national highway connecting Bhubaneswar and the roads in the town, many interior roads are still inaccessible.

INTERNATIONAL:

Donald Trump, Vladimir Putin discuss new nuclear accord possibly including China

• U.S. President Donald Trump said he and Russian President Vladimir Putin discussed on Friday the possibility of a new accord limiting nuclear arms that could eventually include China in what would be a major deal between the globe’s top three atomic powers.

• Trump, speaking to reporters as he met in the Oval Office with Peter Pellegrini, prime minister of the Slovak Republic, also said he and Putin discussed efforts to persuade North Korea to give up nuclear weapons, the political discord in Venezuela, and Ukraine during a call that stretched over an hour.

• The 2011 New START treaty, the only U.S.-Russia arms control pact limiting deployed strategic nuclear weapons, expires in February 2021 but can be extended for five years if both sides agree. Without the agreement, it could be harder to gauge each other’s intentions, arms control advocates say.

BANKS AND ECONOMICS:

Huawei overtook Apple to become Worlds 2nd largest smartphone maker

• The Chinese electronics giant Huawei has surpassed Apple to become the No. 2 smartphone vendor worldwide, according to statistics from the International Data Corp. (IDC).

• South Korean consumer electronics giant Samsung continues to top the list with 20.9% market share.

• Huawei was the only smartphone maker in the top three that saw an increase in shipments in the first quarter of 2019.The company saw year-over-year growth of 50.3% in the first quarter and claimed 19% of the worldwide market share.

Apple holds 11.7% of the worldwide market share as of the first quarter of 2019, while Huawei now claims 19%.

• Chinese smartphone maker Xiaomi sits on the fourth position in the list.

The fifth position is captured by another Chinese smartphone maker - Oppo.

AWARDS AND RECOGNITION:

Nileena M S won the ACJ Award for Investigative Journalism

• The article titled 'Coalgate 2.0'authored by Nileena M S and published in The Caravan magazinein March 2018 has won the ACJ Award for Investigative Journalism, 2018.

• The award, which comprises a trophy, a citation, and Rs. 2,00,000 cash prize. It was presented to the winner by John Micklethwait, Editor-in-Chief of Bloomberg News,who was the chief guest at the journalism school's annual convocation ceremony.

World Press Freedom Prize 2019 awarded to Myanmar Journalists

• The World Press Freedom Prize also known as UNESCO/Guillermo Cano World Press Freedom Prize 2019 is formally conferred every year by Director-General of UNESCO, on occasion of World Press Freedom Day observed on 3 May.

• In 2019 award would be shared by two jailed Myanmar journalists Wa Lone and Kyaw Soe Oo who reported on alleged human rights violations in the state of Rakhine, Myanmar. The Reuters reporters are serving a seven-year prison sentence in Myanmar. They are charged with breaking the country's secrets law for their journalistic investigation on the military's brutal crackdown and killings of Rohingya Muslims in Rakhine state.

• Recognised for:

The award recognises their exceptional courage in reporting on alleged human rights violations in the Myanmar's state of Rakhine. Both Wa Lone and Kyaw Soe Oo's documentary on the taboo topic regarding crimes committed against Rohingyas landed them behind the bars. The award paid a tribute to their courage, resistance and commitment to freedom of expression.

DAYS:

World Laughter Day is celebrated on the first Sunday of May of every year

• World Laughter Day is celebrated on the first Sunday of May of every year. The first celebration was on May 10, 1998, in Mumbai, India. The celebration of World Laughter Day was meant to be a positive manifestation for world peace and to build up a global consciousness of brotherhood and friendship through laughter and run-on sentences.

•  Its popularity has grown exponentially with that of the Laughter Yoga movement, which is now counting over 6000 Laughter Clubs worldwide on all 5 continents.

World Laughter Day was created in 1998 by Dr. Madan Kataria, founder of the worldwide Laughter Yoga movement.

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Important Current Affairs of 4th May

NATIONAL:

HealthKart to raise 173 cr from Belgium's Advent Management.

• Gurugram-based health and fitness products platform HealthKart is raising about ₹173 crore from Belgium-based Advent Management, Entrackr revealed. It has raised around ₹346 crore worth preference and equity capital since July last year.

Healthkart was founded by Prashant Tandon and Sameer Maheshwari in 2011 after raising $1 million from Kae Capital and Sequoia Capital.

Vodafone Idea signs multi-million dollar IT deal with IBM.

• India's largest telecom operator Vodafone Idea Ltd on Friday announced a five-year multi-million-dollar IT outsourcing deal with tech giant IBM.

• "This engagement will also contribute to Vodafone Idea's merger synergy objectives by reducing its IT related costs," the telecom firm said in a statement.

• The company did not divulge the size of the deal but some reports pegged it at about $700 million.

INTERNATIONAL:

Warren Buffett finally embraces Amazon as Berkshire acquires stake.

• Warren Buffett has said that he underestimated Amazon.com Inc.’s Jeff Bezos. Now one of Buffett’s deputies is willing to put money behind the tech giant.

BANKS AND ECONOMICS:

RBI imposed penalty on 5 pre paid payment instrument issuers and Yes Bank.

• The Reserve Bank of India imposed a monetary penalty on five pre-paid payment instrument issuersincluding Vodafone m-pesa and Phonepe, for violating regulatory guidelines. A penalty of Rs.3.05 crore has been imposed on Vodafone m-pesa and Rs. 1 crore each on Mobile Payments, PhonePe and G.I.

• Technology Private Ltd. Also, a penalty of Rs. 5 lakh has been imposed on Y-Cash Software Solutions.

• RBI said it had imposed a penalty of Rs. 29.67 lakh on Western Union Financial Services Inc., USA., and Rs. 10.12 lakh on MoneyGram Payment Systems Inc, USA, for non-compliance of regulatory guidelines.

• The penalties on Western Union and MoneyGram had been imposed by the central bank under the provisions of the Payment and Settlement Systems Act, 2007, for compounding of the contravention.

APPOINTMENTS AND RESIGNATIONS:

Myntra appoints Virat Kohli, Anushka Sharma as first brand ambassadors.

• Flipkart-owned fashion e-commerce platform Myntra n Friday announced that it had appointed celebrity couple Virat Kohli and Anushka Sharma as its first brand ambassadors.

• The platform declined to reveal the brand deal size or period of association. According to celebrity management sector estimates, Myntra may be shelling out upwards of ₹10 crore for the couple as brand endorsement fee.

DAYS:

International Firefighters Day is observed on 4th May.

• International Firefighters' Day (IFFD) is observed on 4th  May of every year. It was instituted after a proposal was emailed out across the world on January 4, 1999, due to the deaths of five firefighters in tragic circumstances in a bushfire in Australia. May 4 used to be a traditional Firefighters' Day in many European countries because it is the day of Saint Florian, patron saint of firefighters.

• Fire prevention and the need for more intensive and thorough training is one of the main aspects of International Fire Fighters Day. Firefighters and their agencies around the world are constantly stressing fire prevention: in schools, to the community, at public events, at assemblies and even to their own families. The safest way to keep firefighters alive and home to their families is training. This ideal is one that International Fire Fighters Day stresses.

• The Ribbon:

One of the most significant symbols of International Fire Fighters Day is the red and blue ribbon. This ribbon is cut precisely five centimeters long and one centimeter wide, with the two separate colors conjoined at the top. The red and blue were chosen because the red stood for the element of fire whereas the blue would represent the element of water. Coincidently, red and blue are also the colors recognized worldwide to signify emergency services; therefore, red and blue being the best choice of color to reco2. gnize an international day.

Coal Miners Day is observed on 4th May every year:

• Coal Miners Day is observed on 4th May every year to highlight the toughest profession and the people working in coal mines. On this day several organisations, communities raises funds and awareness for other organisations in the coal mining area and workers.

This day show appreciation for the sacrifices, honour the accomplishments and remember the tragedies that these hardworking individuals experience.

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Important Current Affairs of 3rd May

NATIONAL:

BSNL launches Bharat fibre for high speed broadband Internet service with local channel partner in Pulwama.

• ‘Bharat Fibre’, the state-owned telecom firm, BSNL (Bharat Sanchar Nigam Limited) became the 1st operator to start optical fibre-based high-speed broadband service in Pulwama.

• The Bharat Fibre services with reliable and high-speed internet are provided on the optical fibre by FTTH (fibre-to-the-home) service up to the customer premises.

The service was launched by BSNL Chief General Manager of Jammu and Kashmir Circle, Rana Ashok Kumar Singh, in the presence of Srinagar General Manager Telecom District Zafar Iqbal and BSNL’s channel partner, Mir Nazir.

• The Internet services generally remain unaffected even during the vagaries of weather.

BSNL provides the FTTH service with a monthly charge of Rs 777-16,999 in around 160 telecom districts with a minimum speed of 2 megabit-per-second (Mbps).

The ‘Bharat Fibre’ service launched on a revenue sharing basis in a business collaborative model with the local channel partner of Pulwama area.

PayPal India launched One Touch with the help of Google Smart Lock for seamless transactions.

• PayPal India used Google Smart Lock and launched its OneTouch experience in India.

OneTouch feature permits Indian consumers to register their android device with PayPal and stay logged into PayPal for further PayPal purchases on that device, thus removing the issue of repeated log-ins and enabling a seamless payments experience.

The integration with Google Smart Lock will offer a hassle-free payment procedure as well as maintain security to prevent fraud.

• India becomes the first market where the feature of Google Smart Lock has been integrated.

• PayPal’s Buyer Protection feature will provide an extra layer of security to this feature for eligible transactions, that is, if items that are purchased online mismatch with the description of the product that was sold, the Buyer Protection feature enables them to claim a refund for eligible transactions.

Godrej Properties buys Mumbai's iconic RK studio.

• Godrej Properties Ltd (GPL) on Friday said it has bought Mumbai's iconic R.K. Studios, founded by legendary film actor Raj Kapoor, for an undisclosed amount.

• The company will develop the property, spread across 2.2 acres, into a project spanning 0.35 million sq ft of saleable area comprising modern residential apartments of various configurations as well as a luxury retail experience, Godrej Properties said in a filing to the BSE.

DAYS:

World Press Freedom Day is celebrated on 3rd May

• World Press Freedom Day is celebrated on 3rd May every year. It was started by theUN General Assembly in 1993, on a recommendation from UNESCO. The day aims to celebrate the fundamental principles of press freedom, assess its state around the world, defend the media from attacks on their independence and to pay tribute to journalists who have laid down their lives in the exercise of their profession.

• The theme for this year's World Press Freedom Day is Media for Democracy: Journalism and Elections in Times of Disinformation. The theme discusses current challenges faced by media in elections, along with the media’s potential in supporting peace and reconciliation processes. UNESCO's mandate is freedom of the press and freedom of expression. UNESCO believes that these freedoms allow for mutual understanding to build sustainable peace.

SPORTS:

India retains top spot in ICC Test rankings.

• India retained its top position in the ICC Test rankings while England remained the number one ODI side in the latest annual rankings released in Dubai.

New Zealand secured second place in Test series.

• India bagged prize money of USD 1 million

• New Zealand bagged USD 500,000.

• South Africa finished third with 105 points

Australia finished fourth with 104 points winning prize money of USD 200,000 and USD 100,000 respectively.

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