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January 02, 2019

2nd January 2019 Daily Current Affairs - PDF Download

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Dear Great Ambitionists, here are today's (2nd January 2019) Important Current Affairs updates. You can download the pdf version of these current affairs from below link. Happy Reading :)

Daily Current Affairs of 2nd January 2019

International Current Affairs
  • The United States and Israel officially quit the United Nations Educational, Scientific and Cultural Organization (UNESCO) with the close of 2018.
    • The countries had announced their decisions in 2017 of withdrawing from the agency, accusing it of bias against Israel.
    • Note : The withdrawals will not greatly impact UNESCO financially since it has been dealing with a funding slash ever since 2011 when both Israel and the US stopped paying dues after Palestine was voted in as a member state.
  • India and Pakistan exchanged the list of nuclear installations and facilities covered under the Agreement on the Prohibition of Attack against Nuclear installations between them.
    • Note : Under the 1988 agreement, the two countries inform each other of nuclear installations and facilities on the 1st of January every year.
Banking, Business & Economic Affairs
  • The Cabinet today approved the merger of Vijaya Bank and Dena Bank with Bank of Baroda
    • The merged bank will become India's second-largest state-run bank (after State Bank of India) and will "help create a strong globally competitive bank", the government said. 
    • The merger will become effective April 1, and employees of Dena Bank and Vijaya Bank will be absorbed into Bank of Baroda.
  • The government is going to infuse ₹10,884 crore in 4 state-run banks.
    • They are :
      • Bank of Maharashtra : ₹4,498 crore
      • UCO Bank : ₹3,076 crore
      • Bank of India : ₹5,500 crore
      • Oriental Bank of Commerce :₹2,159 crore
  • The Reserve Bank of India (RBI) has allowed a one-time restructuring of existing debt of up to 25 crore rupees for the companies which have defaulted on payment but the loans given to them have continued to be classified as standard assets. 
    • The decision will help the Micro, Small and Medium Enterprises (MSMEs) which are facing cash crunch in the wake of demonetisation and GST implementation.
  • The founder of FreeCharge, Kunal Shah, has recently launched his new venture titled Cred, a financial services platform targeting consumers with high creditworthiness.
    • Cred allows users to keep track of due dates of multiple credit cards and pay their credit card bills in one place. 
    • It also rewards customers for paying bills on time.
  • India has cut import taxes on crude and refined palm oil from Southeast Asian (ASEAN) countries following a request from suppliers. 
    • The duty on crude palm oil was lowered to 40% from 44% while that on refined palm oil was cut to 50% from 54%
    • Malaysian shipments of refined palm oil will be taxed at 45% compared with 54% earlier.
  • The Department of Industrial Policy and Promotion (DIPP), under the ministry, has issued a notification clarifying the defence products' list requiring a compulsory licence under Industries (Development & Regulation) Act, 1951 (IDRA), and Arms Act, 1959 in consultation with Ministry of Home Affairs and Department of Defence Production.
    • According to this notification, manufacturing of items of Defence aerospace and Warships will now be covered by Industries (Development and Regulation) Act and will not require any licence from the commerce and industry ministry.
Science & Technology
  • World’s largest science meet ‘Indian Science Congress (ISC)-2019’ is going to be held at Jalandhar, Punjab. 
    • Prime Minister Narendra Modi will inaugurate the 106th edition of ISC-2019 on 3rd January 2019. 
    • The event will conclude on 7th January 2019.
    • Theme of 106th ISC 2019 : ‘Future India: Science and Technology’ 
  • As part of its outreach programme, the Indian Space Research Organisation (ISRO) has launched a new initiative titled Samwad with Students
    • With this initiative, the Indian Space agency will engage youngsters across the country in activities concerning space science.
New Appointments
  • The government today gave Life Insurance Corporation's (LIC) senior-most Managing Director (MD) Hemant Bhargava additional charge as the the insurer's interim Chairman
    • He is going to replace VK Sharma who retired yesterday. 
  • Amitabh Chaudhry has been appointed as the new MD and CEO of Axis bank with effect from January 1, 2019. 
    • The 54-year-old IIM Ahmedabad alumnus, who served as the MD and CEO of HDFC Life previously, has been appointed for 3 years.
    • The present MD & CEO, Shikha Sharma has retired on 31st December 2018. 
  • Former India batsman Sachin Tendulkar's childhood coach Ramakant Achrekar (86) passed away.
    • Besides Tendulkar, he had also coached ex-India cricketers Vinod Kambli, Pravin Amre, Sameer Dighe and Balwinder Singh Sandhu.
    • He was conferred with Dronacharya Award in 1990 and Padma Shri in 2010 for his services to cricket. 
Sports Current Affairs
  • For the 1st time in history, 20-time Grand Slam winner Roger Federer and 23-time Grand Slam winner Serena Williams played a professional match against each other in a mixed doubles match at Hopman Cup today.
    • Federer along with his partner Belinda Bencic defeated Serena and her partner Frances Tiafoe.

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