Daily Current Affairs, 30th January 2019

1) National Salt Satyagraha Memorial Inaugurated At Dandi

•In commemoration of the 150th Birth Anniversary of Mahatma Gandhi, Prime Minister of India Narendra Modi dedicated grand and iconic ‘National Salt Satyagraha Memorial’constructed by the Central Public Works Department at Dandi, Gujarat to the Nation.

•This prestigious work entrusted to CPWD by the Ministry of Culture, Govt. of India has been completed by the dedicated team of CPWD in 20 months’ time well within the sanctioned amount of Rs. 72.23 crores.

2) Ministry Of Textiles Launched ‘Artisan Speak’

•Ministry of Textiles and Government of India launched Artisan Speak at Elephanta Caves (UNESCO heritage site) to strengthen the handlooms and textiles sector of India. The event has been held to showcase the GI Textiles of India, through a confluence of fashion, music, and dance.

•Many textiles companies signed agreements with the Office of Development Commissioner (Handlooms), Ministry of Textiles on the occasion. Under the agreements, the Weavers Service Centres (WSCs) under the Office of DC (Handlooms) will enable textile firms to directly source their requirements from handloom clusters, as per defined quality, cost and time constraints. This will also result in better price realization and improved market understanding for weavers.

3) Civil Aviation Ministry Launched First GI Store In Goa

•The Civil Aviation ministry launched the country’s first Geographical Indication (GI) store at Dabolim International Airport in Goa. Union Minister for Civil Aviation Suresh Prabhu stated that the GI stores will promote local products made by the artisans and handicrafts at the airport. The store is set up by Airports Authority of India in partnership with The Cashew Export Promotional Council of India.

4) First Swadesh Darshan Project Inaugurated In Sikkim

•K.J. Alphons, Union Minister for Tourism has inaugurated the first project under the Swadesh Darshan Project of the Union Ministry of Tourism at the Zero Point, Gangtok, Sikkim. This project was sanctioned by the Ministry of Tourism in June 2015 for Rs. 98.05 crores.

•Swadesh Darshan Scheme is one of the flagship scheme of Ministry of tourism for development of thematic circuits in the country in a planned manner. Under this scheme, the Government is focussing on the development of quality infrastructure in the country with the objective of providing better experience and facilities to the visitors and on fostering economic growth.

5) EPFO’s Central Board of Trustees Notifies 3 New Committees

•Employees’ Provident Fund Organisation has notified three new committees on Finance, Investment and Audit Committee (FIAC), the Pension and EDLI Implementation Committee (PEIC) and the Exempted Establishments’ Committee (EEC). All the 3 committees will continue to have central government representatives as well as 2 representatives each of the employers and the employees and domain experts.

•While the FIAC will oversee investments made by portfolio managers and ensure timely investment of PF kitty for optimum returns, PEIC will review the function of the Employees’ Pension Scheme, 1995 and the Employees Deposit Linked Insurance Scheme, 1976. The EEC will oversee the working of exempted establishments and move suggestions for CBT for improvement in the working of these exempted establishments.

6) Dilip Sadarangani Appointed As Chairman Of Federal Bank

•Kerala based private sector lender Federal Bank has appointed Dilip Sadarangani as the part-time chairman. The appointment of Sadarangani, who has been on the bank’s board since 2013, has been cleared by the Reserve Bank.

7) RBI To Inject Rs 37,500 Crore Through OMO In February

•The Reserve Bank of India has stated that it will inject Rs 37,500 crore into the system through the purchase of government securities in February to increase liquidity.

•RBI stated that it has decided to conduct the purchase of government securities under Open Market Operations (OMOs) for an aggregate amount of Rs 375 billion in the month of February 2019 through three auctions of Rs 125 billion each during the 2nd, 3rd and 4th week. There will be no auction during the first week due to the scheduled Monetary Policy Committee  (MPC) meeting.

8) India Ranks 54th In ‘Bloomberg Innovation Index’ Of 60 Economies

•India has been ranked in Bloomberg’s 2019 list of most innovative countries in the world – 2019 Bloomberg Innovation Index – for the first time ever. India has grabbed the 54th spot with a score of 47.93 out of 100 in the Innovation Index of 60 economies.

•South Korea has topped the Index for the sixth time in a row with a total score of 87.38, followed by Germany and Finland.

9) FDI Rose 18% In FY18 To Rs 28.25 Lakh Crore: RBI data

•Reserve Bank of India has released a data on “Census on Foreign Liabilities and Assets of Indian Direct Investment Companies, 2017-18” which shows that the Foreign Direct Investment (FDI) has increased 18% to Rs. 28.25 lakh crore in FY18.

•FDI increased by Rs 4,33,300 crore, including revaluation of past investments, during 2017-18 to reach Rs 28,24,600 crore in March 2018 at market value. Overseas direct investment (ODI) by Indian companies increased by 5% to Rs 5.28 lakh crore.

•The census showed that Mauritius continued to be the largest source of FDI in India (19.7%) followed by the US and UK. In case of overseas investment by Indian companies, Singapore (17.5%) was the major destination, followed by the Netherlands and Mauritius.