Daily GK Updates - 7th February, 2019

NATIONAL UPDATES:

1. CCEA approves Broadcasting Infrastructure and Network Development scheme of Prasar Bharti : The Cabinet Committee on Economic Affairs (CCEA) has approved the Broadcasting Infrastructure and Network Development scheme of Prasar Bharti.An amount of 1054 Crore rupees have been approved for a three years period.CCEA also approved the creation of Agri-Market infrastructure fund for development and up-gradation of Gramin Agriculture Markets.A corpus of 2 thousand crore rupees will be created with NABARD.CCEA also approved the continuation of the Central Sector Scheme of Exploration of Coal and Lignite for a period of 3 years from 2017-18.

2. Smriti Irani launches India Size project in Mumbai : The Textile Minister Smriti Irani has launched the India Size project (first-of-its-kind project in the history of the country) in Mumbai.The objective of the India Size to arrive at a standard Indian Size for the ready-to-wear clothing industry.India size project will benefit manufacturers, consumers and generate data which will help tap into the potential of the sector.The Minister also launched a Study of Apparel Consumption in India, study report will release by July 2019.

3. Arunachal's Nyishi tribe celebrates Boori Boot Yollo festival : The Nyishi tribe of Arunachal Pradesh is celebrating its Boori Boot Yollo festival (52nd) to welcome spring and a successful harvest. Boori Boot Yollo is observed every year in the month of February. The festival witnessed the grand display of Punu/Jajin and Boori Yapa dance.

4. BPRD to organize 2nd National Conference of Micro Missions of National Police Mission : Former Governor of Jammu and Kashmir N. N. Vohra has inaugurated the 2nd National Conference of Micro Missions of National Police Mission in New Delhi.The conference has been organised by the Bureau of Police Research and Development (BPRD).It will discuss the issues of skills and competence at the grass-root level, Attitudinal changes in Police, Gender sensitization, harnessing technology and Community Policing.

5. Cabinet approves the establishment of Rashtriya Kamdhenu Aayog : The Union Cabinet has approved the proposal for the establishment of Rashtriya Kamdhenu Aayog for conservation, protection and development of cows and their progeny.It will lead to the development of the cattle population in the country including the development and conservation of indigenous breeds.Rashtriya Kamdhenu Aayog was announced in the budget on the 1st of this month.

INTERNATIONAL UPDATES:

1. Trump nominates US treasury diplomat David Malpass to head World Bank : Donald Trump (US President) has nominated senior Treasury official ‘David Malpass’(62-years) as the chief of the World Bank for a five-year term. He would replace Jim Yong Kim, if voted by the Directors of the World Bank Group. Traditionally, the World Bank Group President has always been an American citizen nominated by the United States (the largest shareholder in the World Bank Group).At present, David Malpass is the Under Secretary of the Treasury for International Affairs.

2. Macedonia signs accord to join NATO : Macedonia formally signed an agreement to join NATO (the North Atlantic Treaty Organization) to become the 30th member of the US-led alliance.According to Macedonia’s Foreign Minister Nikola Dimitrov, the country will never walk alone once in the alliance.The admittance of a new member highlighted that all European nations who meet the entrance criteria could join the regional alliance.The Macedonia-NATO accord follows a deal with Greece ending a 27-year-old dispute over Macedonia's name.

OTHER UPDATES:

BANKING/FINANCE:

1. RBI cuts repo rate by 25 basis points to 6.25% : The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) decided to reduce the key policy rate or the repo rate by 25 bps to 6.25% in bimonthly policy review of 2018-19.The three-day policy review meeting by the Monetary Policy Committee (MPC) began headed by RBI Governor Shaktikanta Das in Mumbai.Reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.5% to 6.25% with immediate effect.

SPORTS:

1. Vidarbha grab second successive Ranji Trophy Title 2018 : Vidarbha defeated Saurashtra by 78 runs to retain the Ranji Trophy 2018-19 edition (85th season) at the Vidarbha Cricket Association in Nagpur.Left-arm spinner Aditya Sarwate (Vidarbha), with eleven wickets in the match to steer Vidarbha to domestic glory.The Ranji Trophy is a domestic first-class cricket championship played in India between teams representing regional and state cricket associations.