GENERAL AWARENESS–CURRENT AFFAIRS MONTH OF JUNE–2019 List of Important Days June 1 - World Milk Day (Theme – “Drink Milk: Today & Everyday”) June 1 - Global Day of Parents June 2 - International Sex Workers Day June 3 - World Bicycle Day June 4 - International Day of Innocent Children Victims of Aggression June 5 - World Environment Day (Theme – “Beat Air Pollution”) This year’s host country: China. June 8 - World Oceans Day (Theme – “Gender and Oceans”) June 8 - World Brain Tumor Day June 15 - ASEAN Dengue Day (Theme - “End Dengue: Starts With Me”) June 15 - World Elder Abuse Awareness Day (WEAAD) June 17 - World Day to Combat Desertification and Drought (Theme - “Let’s Grow the Future Together”) June 20 - World Refugee Day (Theme - “#StepWithRefugees — Take A Step on World Refugee Day”) June 21 - World Music Day (Fête de la Musique) June 21 - 5th International Yoga Day (Theme – “Yoga for Heart”) June 23 - International Olympic Day June 23 - World Public Service Day June 23 - International Widows Day June 25 - Day of the Seafarer (Theme – “I Am On Board with gender equality”) June 25 - 44th anniversary of the Emergency June 26 - International Day Against Drug Abuse and Illicit Trafficking (Theme – “Health for justice, justice for health”) June 26 - International Day in Support of Victims and Nature. June 29 - National Statistics Day. (Theme - “Sustainable Development Goals (SDGs)”) Reserve Bank of India • The Reserve Bank of India (RBI) was observed Financial Literacy Week across the country from 3rd to 7th June 2019. − Theme: 'Farmers and how they benefit by being a part of the formal banking system'. • The Reserve Bank of India (RBI) has barred SR Batliboi & Co, a member firm of EY, from auditing commercial banks for a year starting April 1, 2019. • To boost digital transactions, the Reserve Bank of India (RBI) decided to remove charges levied by it for transactions processed in the RTGS and NEFT systems. • In it's 2nd bi-monthly monetary policy review, the RBI reduced its repo rate by 25 bps to 5.75% to boost growth after GDP growth slowed to a five-year low of 5.8% last quarter. − The Reverse repo rate under the LAF stands adjusted to 5.50 per cent, and the Marginal Standing Facility (MSF) rate and the Bank Rate to 6.0 per cent. CSB, Ch-17, Ph: 044-24333346 GA/June’19/Page-1 • The Reserve Bank of India (RBI) has revised its GDP growth forecast for the current fiscal to 7% from the earlier projection of 7.2%. • The Reserve Bank of India (RBI) has diluted its earlier guidelines on bad loans and has now mandated banks to undertake a review of a borrower account within 30 days of default. − The resolution plan should be implemented by the lenders within 180 days after the initial review period. • The Reserve Bank of India (RBI) fined Kotak Mahindra Bank ₹2 crore for not furnishing details about the shareholding of its promoter and its plans for complying with stake dilution norms. • The Reserve Bank of India (RBI) has relaxed the norms for no-frills accounts, directing banks to provide cheque books and other facilities to basic account holders. • Over 53,000 cases of bank frauds worth ₹2.05 lakh crore were reported in India between 2008-09 and 2018-19, the Reserve Bank of India (RBI) recently revealed. − The highest of 6,811 cases were reported by the ICICI Bank involving ₹5,034 crore. − This was followed by the State Bank of India (SBI) which reported 6,793 cases worth ₹23,735 crore. • The Reserve Bank of India (RBI) has asked banks to ensure their ATMs are fixed to a wall, pillar, or floor by September 30, 2019, to enhance their security. − Additionally, all ATMs shall be operated for cash replenishment only with digital One Time Combination locks. • The Reserve Bank of India (RBI) has imposed a ₹1-crore penalty on HDFC Bank for not complying with its KYC and anti-money laundering norms. • The Reserve Bank of India (RBI) has launched an application titled Complaint Management System (CMS) on its website for lodging complaints against banks and NBFCs with a view to improve customer experience in timely redressal of grievances. • The Reserve Bank of India (RBI) has urged citizens not to pay heed to rumors regarding the genuineness of coins of 50 paise, ₹ 1, ₹ 2, ₹ 5 and ₹ 10 denomination of various sizes, themes and designs. • The Reserve Bank of India (RBI) said all data related to payments must be stored in systems located only in India and data processed abroad will have to be brought back to the country within 24 hours. − The RBI had issued a directive in April 2018 on 'Storage of Payment System Data'. Other Banks • The Oriental Bank of Commerce has written to the Finance Ministry saying that it is ready for a merger and proposed Indian Bank and Corporation Bank as possible partners. • Indian multinational, public sector banking and financial services company Bank of Baroda has named businessman Vijay Kalantri (Chairman and Managing Director of Dighi Port), as a "wilful defaulter" along with his son Vishal Kalantri. − A bankruptcy court last month approved JNPT's resolution plan to buy Dighi Port for ₹853 crore. • State-owned UCO Bank declared Yashovardhan Birla as a wilful defaulter after his company Birla Surya failed to repay loans of ₹ 67.65 crore. • To ensure greater transparency and accountability, the Jammu and Kashmir Bank will now come under the purview of Right to Information Act and Central Vigilance Commission (CVC) guidelines. • State-owned Punjab National Bank (PNB) has put on sale 6 Non-Performing Assets (NPAs) amounting to over ₹1,000 crore. − The reserve price for this has been fixed at over ₹341 crore. CSB, Ch-17, Ph: 044-24333346 GA/June’19/Page-2 • IndusInd Bank announced that its merger with Bharat Financial Inclusion (BFIL) will be effective from July 4. − The Hyderabad-based NBFC's current Chief Executive Officer (CEO) M R Rao will take charge as the consolidated entity's CEO. Insurance • The government has reduced the total rate of contribution towards the Employees’ State Insurance (ESI) scheme from 6.5% to 4% for the first time since 1997. • Indian banking and financial services company HDFC is going to acquire Apollo Hospitals' entire 50.8% stake in Apollo Munich Health Insurance and 0.4% held by some employees for ₹1,347 crore. − After this deal, Apollo Munich is proposed to be merged with HDFC ERGO General Insurance Company. • The government is looking at demerging National Insurance Company, United India Insurance Company and Oriental Insurance Company into smaller units. High Courts and Sessions Courts • The Punjab and Haryana High Court has accorded the status of "legal person or entity" to all animals in Haryana, granting them the "corresponding rights, duties and liabilities of a living person". − The verdict comes nearly a year after Uttarakhand High Court passed a similar order "to protect and promote greater welfare of animals". • Botswana's High Court ruled in favor of decriminalizing same-sex relations, saying the colonial- era laws were discriminatory and unconstitutional. • The Bombay High Court confirmed the Maharashtra government's decision to grant quota to Marathas in government jobs and educational institutions. − However, it said that the 16% quota is not justifiable and should be reduced to 12% or 13%. Central Government • The government extended the ₹6,000 per year PM-KISAN scheme to all farmers in the country. − The revised scheme envisages to cover around 2 crore more farmers increasing the coverage of PM-KISAN to around 14.5 crore beneficiaries. • The Centre has shortlisted 5 cities, Delhi, Shimla, Mysore, Ahmedabad and Ranchi to hold National Programme of the International Yoga Day this year. • Union Cabinet has accorded ex-post facto approval for the extension of the term of the Commission to examine the issue of Sub-categorization of Other Backward Classes by 2 more months upto 31st July this year. • The Union Cabinet has approved the extension of President's rule in Jammu and Kashmir for another 6 months, beginning from July 3. • The Central Government has approved the formation of Defence Space Research Agency (DSRO) to develop weapon systems and capability enhancing technologies for space wars. • Government has decided to remove the requirement of minimum educational qualification for transport vehicle drivers. • The government is considering selling controlling stakes in some of the smaller state-run banks to raise funds for the rural housing programme. • The Government has set up 713 Krishi Vigyan Kendras and 684 Agricultural Technology Management Agencies at the district level in the country for dissemination of technologies among the farming community. CSB, Ch-17, Ph: 044-24333346 GA/June’19/Page-3 • The Centre is planning to launch a "One Nation One Ration Card" scheme for beneficiaries to access the Public Distribution System from any PDS shop in India. • The Indian government is planning to build its Own Chat App and making its use by government employees compulsory for official communications to cut reliance on foreign firms and apps. • The government has reduced interest rate on Small Savings Schemes, including Public Provident Fund (PPF), which will now fetch 7.9% interest rate for the July-September quarter, down from existing 8%. States • The Rajasthan government has decided to ban production, distribution, advertisement and sale of e-cigarette in the state. • The Punjab government has decided to make it mandatory for all online aggregators to ensure that food supplied by them have hygiene rating as per the guidelines of Food Safety and Standards Authority of India (FSSAI). • The state of Telangana (29th state of India) was celebrating the 5th anniversary of its foundation on June 2.