Weekly Current Affairs April 1 to April 07 2019

Published on Saturday, April 13, 2019

India’s First Carbon-positive Settlement

  • Phayeng Village in Manipur (Imphal West district) has become India’s first carbonpositive settlement.
  • A village is given the carbon-positive tag if it sequesters more carbon than it emits, slowing the accumulation of greenhouse gases and mitigating the effect of climate change.

ISRO’s PSLV-C45 Places Emisat

  • The Indian Space Research Organisation placed Defence Research Development Organisation-developed electronic intelligence satellite Emisat and 28 foreign satellites in orbits from Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh.
  • Emisat, weighing 436kg, is meant for helping the military locate hostile radars.
  • It is country’s first Electronic Surveillance Satellite and will be used for Electronic Signals Intelligence (ELINT).

Hump-backed Mahseer Declared Endangered

  • International Union for Conservation of Nature has placed Hump-backed Mahseer found in Cauvery River basin in Red List of Threatened Species.
  • It means, this freshwater first is a critically endangered species.
  • The fish is also called the tiger of the water

Changing Business and Opportunities for Employer and Business Organizations

  • ILO’s report titled “Changing Business and Opportunities for Employer and Business Organizations" lists the percentage of work activities that can be automated using current technology. In the case of India, 51.8% of activities can be automated
  • Japan and Thailand run the risk of 55.7% and 54.8%, respectively, of their activities being automated.
  • Over 40% of activities can be automated across the world.
  • Also, automation threatens to impact women more than men, suggests the report. It points out that women “are a large component of the workforce in retail, business processing outsourcing and textiles/clothing/footwear". This is primarily because automation threatens sectors where women form a major part of the workforce. 

    Ways and means of RBI

    • The Reserve Bank of India, in consultation with the Government of India, has decided that the limits for Ways and Means Advances (WMA) for the first half of the financial year 2019-20 (April 2019 to September 2019) will be Rs 75000 crore.
    • The temporary loan facility provided by RBI to the Centre and State govt. is known as Ways and Means Advances.
    • The WMA scheme for Central Govt. was introduced on April 1, 1997, replacing the system of adhoc Treasury Bills to finance the Central Government deficit.
    • The WMA scheme was designed to meet temporary mismatches in the receipts and payments of the government.
    • The WMA is to be vacated after 90 days and is charged at repo rate.
    • The Overdraft Facility is provided when the WMA limit is breached but not beyond 10 consecutive working days.
    • The interest rate on Overdrafts would be 2% more than repo rate.

    NPA Divergence Closure Norms

    • The Reserve Bank of India has asked banks to disclose bad loan divergences in their financial statements if the additional provisioning exceeds 10 percent of profit before provision and contingencies.
    • It has been decided that banks should disclose divergences, if "the additional provisioning for NPAs assessed by RBI exceeds 10 percent of the reported profit before provisions and contingencies for the reference period".
    • RBI further said disclosure has also to be made if the additional gross NPAs identified by RBI exceed 15 percent of the published incremental gross NPAs for the reference period.

    First Bi-Monthly Monetary Policy of RBI FY20

    • RBI has reduced the current Repo Rate from 6.25% to 6% as part of First Bi-Monthly Monetary Policy of FY20 (As of April 5, 2019).
    • Also, RBI cuts GDP growth forecast to 7.2% from 7.4% for 2019-20.
    • Reverse Repo Rate : 5.75%
    • Marginal Standing Facility Rate : 6.25%
    • Bank Rate : 6.25%
    • CRR – 4%
    • SLR – 19.25%

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