June 2019 Current Affairs Notes for UPSC IAS 2020 Exam
~VG Kannan Committe
- To reveiew existing patterns of costs,charges and interchange fees for ATM Transaction
- 6 Members Committee
- VG Kannan will chair the association-> senior officers from NPCI,SBI,HDFC,Confederation of ATM industry and TATA Communication payment solutions limited.
~Financial stability and Development Council
- Meeting recently held chaired by Union Finance Minister.
super regulatory body for regulating the financial sector→to strengthen ,coordination,institutionalise financial stability for bringing the healthy and efficient financial system. set up in 2010. members: RBI, SEBI, IRDA, PFRDA, Finance Secretary, Financial Services,Economic affair, and Chief Economic Adviser.
~Prime Minister’s Economic Advisory Council
- non-constitutional and non-statutory, non-permanent and independent body
- analyse all economic critical issues->inflation, microfinance, export-import changes, GDP changes and industrial output
- Bibek Debroy-> current chairman
~Libra is Facebook’s cryptocurrency
- for use in 2020
- created version of blockchain, the encrypted technology used by bitcoin and other cryptocurrencies.
- emits over 22 megatons of carbon dioxide annually.
- The Marshall Islands->“Sovereign” (SOV), Venezuela launched Petro
~UAE launches UN-developed anti-money laundering platform
- reporting platform on Drugs and Crime to curb organised crimes.
- ‘goAML->UAE’s Financial Intelligence
- prevent money laundering, financing of terrorism and other illicit financial activities.
~Railways plan a ‘Give It Up’ for train ticket
- asking passengers to sacrifice the subsidy on train tickets.
- reduce passenger subsidy on Indian Railways.
- 47 per cent subsidy given
- “Give It Up” campaign in 2015→to voluntarily surrender their LPG subsidy.
~NGOs for promotion of road safety
- Ministry of Road Transport and Highways
- grant of financial assistance->for administering “Road Safety Advocacy”
- 203 different Non-Governmental Organisations (NGOs) / Trusts / Cooperative Societies
- Financial assistance-> Rs. five lakh.
- not provide for any advance payment→reimbursement after successful ->ensure proper utilization of funds
- Registration of the NGO on Darpan Portal
- administered through a Project Management Unit (PMU)
~Surjit Bhalla Committee on Trade and Policy
- Union Minister of Finance & Corporate Affairs has informed Rajya Sabha
- headed by Dr. Surjit S. Bhalla
- boosting India’s share and importance in global merchandise and services trade.
- identifies tax reforms also to boost export and -investment channels for exports.
- recommended “Elephant Bonds”->25-year sovereign bond -> undisclosed income bound to invest 50% ->utilised only for infrastructure projects.
- reforms in Financial Services Framework-> making India a Preferred Destination for financial services.
~New National Rubber Policy
- Minister of Commerce and Industry
- support the Natural Rubber(NR) production sector and the entire rubber industry value chain.
(a)new planting and replanting of rubber (b)support for growers (c)processing and marketing of natural rubber (d)labour shortage (e)external trade (f)Centre-State integrated strategies (g)research and training (h)rubber product manufacturing and export (I)climate change concerns and carbon market
- Thailand and Indonesia are two of the leading rubber producers.
~To revise the current series of WPI
- Chairman of the Working Group: Ramesh Chand
- Nodal office: The Office of Economic Adviser,Department for Promotion of Industry & Internal Trade.
- help in presenting a more realistic picture of the price situation and its impact on people
- To review the commodity basket of the current series of WPI.
- To select the most appropriate Base Year for the preparation of a new official series of Index Numbers of WPI and Producer Price Index (PPI).
- Ministry of Commerce & Industry
~ONE NATION ONE RATION CARD
- aimed at providing freedom to beneficiaries
- reduce their dependence on shop owners
- biggest beneficiaries will be migrant workers->beneficiary can avail his share of food grain from any district in the State.
- creation of a Central Repository