Current Affairs Today 07th November 2019 | Current Affairs News


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Government sets up Rs.25,000 crore fund to revive stalled housing projects

  • The Union Cabinet approved the setting up of aRs 25,000-crore alternative investment fund (AIF) to revive around 1,600 stalled housing projects across top cities in the country.
  • The government will put in 10 thousand crore rupees in the Alternative Investment Fund (AIF) while State Bank of India and Life Insurance Corporation will provide  15 thousand crore rupees taking the total size to  25 thousand crore rupees
  • The AIF will be a special window to provide priority debt financing for completion of projects in the affordable and middle-income categories,
  • The government has decided to include projects declared as non-performing assets and those which are undergoing insolvency at the National Company Law Tribunal (NCLT) to be considered for financing from the AIF.
  • The funding will be possible only if they are registered under the Real Estate (Regulation and Development) Act or RERA.
  • However, those which have already got orders from NCLT for liquidation will not be considered.

PM Modi inaugurates Global Investors’ Meet at Dharamshala

  • Prime Minister Narendra Modi inaugurated the global investors meet at Dharamshala
  • The two day Global Investors’ Meet will be attended by diplomats, leaders from the corporate sector, senior policymakers, development agencies, entrepreneurs and investors from across the world.
  • The Investor Meet is being organised by Himachal Pradesh to attract foreign investment and create employment opportunities in the state.


Odisha government signs pact with Tata Strive, Tech Mahindra for skill upgradation

  • The Odisha state government signed agreements with Tata Strive and Tech Mahindra to add new dimensions in skilling and employability of the youth
  • The agreement between Directorate of Technical Education and Training and Tata Strive is aimed at imparting life skills to the students of all 49 government Industrial Training Institutes (ITIs) in the state
  • The pact between Tech Mahindra and the Biju Patnaik University of Technology will see setting up of a centre for excellence in artificial intelligence and machine learning. It will work on the proof of concept for real-life business problems to keep up with the market demand and enhance employability of engineering students.
Odisha CapitalBhubaneswar
Odisha CMNaveen Patnaik
Odisha GovernorGaneshi Lal


IndusInd Bank appointed Sumant Kathpalia as new MD & CEO

  • IndusInd Bank has appointed its consumer banking head Suman Kathpalia, as its new Managing Director (MD) and Chief Executive Officer (CEO).
  • He will replace Romesh Sobti, who will be retired in March 2020.
  • Before joining Indus Ind Bank, Sumant Kathpalia headed consumer loans vertical at ABN Amro Bank and joined Indus Ind Bank in 2008.
Indus Ind Bank CEORomesh Sobti
Indus Ind Bank HeadquartersMumbai
Indus Ind Bank TaglineWe make you feel richer

Sheikh Khalifa bin Zayed Al Nahyan re-elected as President of UAE

  • The UAE Supreme Council has re-elected His Highness Shaikh Khalifa Bin Zayed Al Nahyan as President of the UAE for a fourth five-year term
  • President Sheikh Khalifa was first elected President of the UAE by the Supreme Council of the Union on 3rd November, 2004 following the death of his father Shaikh Zayed Bin Sultan Al Nahyan
UAE CapitalAbu Dhabi
UAE CurrencyDirham
UAE PMSheikh Mohammed bin Rashed al-Maktoum

Sudhir Mital elected as president of Gymnastics Federation of India

  • Former Competition Commission of India chairman Sudhir Mital and Shantikumar Singh were on elected as president and general secretary respectively, of the Gymnastics Federation of India(GFI)
  • Mital, a retired IAS officer of Punjab cadre, was a former president and served as GFI chief from 2003 to 2007. He served as chairman of Competition Commission of India in 2018 after joining the organisation in 2014 as a member.
  • Shantikumar, a former national level gymnast from Manipur, had earlier served as GFI treasurer from 2011 to 2015 and then got elected as secretary in the 2015 elections.


Ujjivan Small Finance Bank Launches Instant Digital Savings and Instant Fixed Deposit Account

  • Ujjivan Small Finance Bank launches Digital Savings Account along with Fixed Deposit and Privilege Savings Account to offer distinctive banking and digital services to its customers.
  • Instant Savings Account will allow customers to instantly open and operate a savings account through mobile phones or a computer with just two documents – Aadhaar Card and Pan Card
  • One can deposit up to a maximum amount of Rs. 1 Lakh in this account and additional deposits can be done by ensuring due full KYC in Ujjivan SFB’s respective branches.
  • Instant FD can also be opened to a maximum of Rs. 1 Lakh without a Savings Account.
  • Customers will also enjoy unlimited free transaction on Ujjivan SFB ATM and six free transactions on other bank ATMs every month with Digital Savings Account.
  • Ujjivan SFB has also launched a Privilege Savings Account that offers Platinum Debit card, domestic airport lounge access, home branch facility across 552 Ujjivan SFB branches with unlimited transaction on any ATM and a higher accidental insurance cover of Rs. 2 Lakh
Ujjivan Small Finance Bank
MD & CEOSamit Kumar Ghos


Tech Mahindra acquires New York-based BORN Group for $95 million

  • IT major Tech Mahindra Ltd has acquired New York headquartered media outsourcing firm Born Group Pte. Ltd for $95 million.
  • Born Group offers end-to-end digital engagement, such as strategy consulting, content creation, digital production, eCommerce and CMS (Content Management System) implementations and data driven UX (User Experience).
  • Born is owned by private equity firm True North and Zodius Capital
  • Tech Mahindra will acquire the Indian subsidiary of Born Group – Born Commerce Private Ltd


Documentary on Real Kashmir Football Club bags BAFTA & Scotland Awards

  • A documentary on Real Kashmir Football Club has bagged the prestigious British Academy of Film and Television Awards (BAFTA) and Scotland Awards at a glittering ceremony in Glasgow, Scotland.
  • The documentary narrates the journey of former Rangers ace David Robertson as the coach of Real Kashmir FC, which in its first season finished third in the I-League, which is currently India’s second tier football league.
  • The hour-long film, which was aired by BBC Scotlandearlier this year, won in the ‘Single Documentary’ category.
  • The director of the show, Clark was also nominated in the ‘Director – Factual’ category but he missed out of the award to Matt Pinder, who was adjudged winner for his film ‘Murder Case’.

TVS Motor Chairman Venu Srinivasan bags Deming award in Tokyo

  • Venu Srinivasan Chairman of TVS Motor Company has been conferred with the prestigious Deming ‘Distinguished Service Award For Dissemination and Promotion Overseas
  • Srinivasan becomes the first industrialist from India to be bestowed this award for his contributions in the field of total quality management (TQM).
  • The award, which is sponsored by the Japanese Union of Scientists and Engineers (JUSE), was presented at a ceremony held in Tokyo, Japan
  • Indian companies have won the maximum Deming Prize (28) followed by Japan (19), Thailand (12), China (3) and others
  • The Deming Prize is the highest award for TQM in the world.  Deming ‘Distinguished Service Award for Dissemination and Promotion Overseas’ is given to individuals who have made outstanding contributions in the dissemination and promotion of Total Quality Management (TQM)


Biennial Commonwealth Law Ministers’ Conference begins in Colombo, Sri Lanka

  • The biennial Commonwealth Law Ministers’ Conference began in Colombo
  • The theme of the conference is Equal Access to Justice and the Rule of Law.
  • Union Minister for Law and Justice Ravi Shankar Prasad will be representing India at the conference
  • The four day conference seeks to address challenges faced by millions of people seeking to resolve legal problems or disputes
Sri Lanka CapitalColombo, Jayawardenepura Kotte
Sri Lanka CurrencySri Lankan rupee
Sri Lanka PresidentMaithripala Sirisena

First ever ‘BIMSTEC Ports’ Conclave’ held in Vishakhapatnam

  • The Minister of State (I/C) for Shipping,Shri Mansukh Mandaviya will inaugurate tomorrow the first ever ‘BIMSTEC Ports’ Conclave’at Visakhapatnam in Andhra Pradesh
  • The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is an International Organization involving a group of countries in the South Asia and South East Asia namely, Bangladesh, India, Myanmar, Sri Lanka, Thailand, Bhutan and Nepal
  • The conclave will discuss on how ports can become centres for industrialisation and tourism. Safety and security of ports, ease of doing business, green port operations and other aspects will also be deliberated


HRD Minister and Harsimrat Kaur launched 3 books on Guru Nanak

  • Human Resource Development Minister Ramesh Pokhriyal Nishank and Food Processing Industries Minister Harsimrat Kaur Badal unveiled three books on Guru Nanak DevJi in New Delhi.
  • The books were launched in the run-up to 550th Birth Anniversary celebration of Guru Nanak DevJi at a function at Sri Guru Teg Bahadur Khalsa College.
  • The National Book Trust has published these titles – ‘Guru Nanak Bani’, ‘Nanak Bani’, and ‘Sakhian Guru Nanak Dev’ to spread the message of Guru Nanak Dev’s writings among readers of Indian sub-continent. These books, published originally in Punjabi, shall be translated into 15 major Indian languages


GRSE delivers fast patrol vessel, ‘Annie Besant’ to Indian Coast Guard

  • Defence PSU Garden Reach Shipbuilders and Engineers Ltd (GRSE) delivered ‘Annie Besant’ fast patrol vessels (FPV) to the Indian Coast Guard.
  • This is second in the series of five FPVs being built by GRSE for the Coast Guard and the 101st warship to be delivered by the shipyard.
  • The FPV, a medium range surface vessel with a length of 50 m, width of 7.5 m and displacement of around 308 T, is capable of operations in the maritime zones of India
  • The vessel is designed for a maximum speed of 34 knots with an endurance of more than 1500 nautical miles
  • The powerful, fuel-efficient platforms are designed to perform multipurpose operations like patrolling, anti-smuggling, anti-poaching and rescue operations.
Garden Reach Shipbuilders and Engineers Ltd (GRSE)
GRSE Chairman & CEORear Admiral VK Saxena,
GRSE HeadquartersKolkata

Coast Guard’s two-day rescue exercise ‘ReSAREX- 19’ conducted off Goa shore

  • The Indian Coast Guard (ICG) tested its efficiency and preparedness during the Regional Level Search and Rescue Workshop and Exercise 2019 (ReSAREX- 19) conducted off Goa coast
  • The two days event organised by the Coast Guard District Headquarters – 11 (Goa) comprised of search and rescue workshop and table top exercise conducted on November 5 and was followed by search and rescue exercise at sea on November 6
  • Five ICG ships, Dornier aircraft, two Chetak helicopters were used for the workshop, he said, adding that resources from Captain of Ports, State Marine Police, Indian Mission Control Centre (Bengaluru), Goa state administration, Goa Medical College and Marmugao Port Trust were also pressed into service.


Former Maharashtra minister Babasaheb Dhabekar passed away

  • Former Maharashtra minister Babasaheb Dhabekar has passed away
  • Dhabekar was the water resources minister when the Shiv Sena-BJP alliance government was in power in the 90s.

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