DAILY GK 8 AUG 2019

DAILY GK 8 AUG 2019

1. PARLIAMENT PASSED THE CONSUMER PROTECTION BILL, 2019

✔The Rajya Sabha has passed the Consumer Protection Bill, 2019. The bill will lead to setting up of a Central Consumer Protection Authority to promote, protect and enforce the rights of consumers as a class.

✔The Bill seeks to strengthen the rights of consumers and provides a mechanism for redressal of complaints regarding defects in goods and deficiency in services. The bill will replace the Consumer Protection Act, 1986.

2. LOK SABHA PASSED THE TRANSGENDER PERSONS (PROTECTION OF RIGHTS) BILL, 2019

✔Lok Sabha passed the Transgender Persons (Protection of Rights) Bill, 2019 by a voice vote. It was introduced in the Lok Sabha on July 19, 2019 by the Minister for Social Justice and Empowerment, Mr. Thaawarchand Gehlot.

✔The Bill defines a transgender person as one whose gender does not match the gender assigned at birth and according to 2011 Census, there are more than 4.80 lakh transgenders in India.

✔The Bill prohibits any kind of discrimination against a transgender person.

3. THIRD BI-MONTHLY MONETARY POLICY OF RBI 2019-20

✔The Reserve Bank of India announced its third Bi-Monthly Monetary Policy Rates for 2019-20 in Mumbai. The 3-day policy review meeting by the six members of Monetary Policy Committee was headed by RBI Governor Shaktikanta Das.

✔All members of the MPC unanimously voted to reduce the policy repo rate by 35 basis points (bps) under the liquidity adjustment facility to 5.40 % from 5.75% for the 4th consecutive time.

✔The RBI’s MPC cut its Gross Domestic Product growth forecast to 6.9 percent from 7 percent for FY20 due to a slowdown in consumption and Investmnet, which is causing dampening effect on growth.

4. NEW INSURANCE PLAN “JEEVAN AMAR” LAUNCHED BY LIC

✔Jeevan Amar is a non-linked, non-participating life term insurance plan offering great flexibility to policyholders in comparison to other insurance plans by the Life Insurance Corporation of India. It is available for sale offline.

✔The policyholder cannot claim the money on maturity but will be obtained as a death claim in case of demise of the person. Policyholders can choose from two death cover options. They are level sum assured and increasing sum assured.

✔The death benefit will remain the same in the first five years and will increase by 10% of basic sum assured every year for the next 15 years or till the end of the policy term for increasing sum assured.

✔People of ages 18-65 years are eligible. The maximum maturity age is 80 yrs offering policy terms from 10 years to a maximum of 40 years. The insurance premium can be paid only once for a limited premium paid regularly. Low premium rates are offered to women.

5. INDIA’S GDP TO GROW AT 6.2% IN FY 2019-20: NCAER

✔As per the National Council of Applied Economic Research, an economic think-tank, India’s GDP growth will be 6.2% in FY 2019-20, down from 6.8% in 2018-19. The decline in estimation was due to flat growth in the agriculture sector as it depends largely on the south-west monsoon.

✔The Wholesale Price Index (WPI) inflation is projected at 2.6%.

✔The growth rates in exports and imports, in dollar terms, are estimated at 4.4% and 3.3% respectively.

6. INDIA TOPS THE TEST RANKINGS RELEASED BY ICC

✔The list was topped by India followed by New Zealand (2nd) and South Africa (3rd) respectively.

• ICC Test batsmen rankings: Virat Kohli (India) topped the list followed by Kane Williamson ( New Zealand), Steve Smith ( Australia) and Cheteshwar Pujara (India).
• ICC Test bowler rankings: Pat Cummins topped the list followed by Kagiso Rabada, James Anderson and Vernon Philander.
• ICC test all-rounder rankings: Jason Holder (West Indies) topped the list followed by Shakib Al Hasan (Bangladesh), Ravindra Jadeja( India) and Ben Stokes (England).

7. FORMER EXTERNAL AFFAIRS MINISTER AND BJP STALWART, SUSHMA SWARAJ PASSED AWAY

✔Former External Affairs Minister Sushma Swaraj passed away.

✔She was the 1st full time woman external affairs minister of India.

✔She was also the youngest cabinet minister at 25 when she joined the Haryana government in 1977 and the first woman chief minister of Delhi.

8. VETERAN BOLLYWOOD FILMMAKER J. OM PRAKASH PASSED AWAY AGED 92

✔Veteran director J Om Prakash passed away. Prakash was best known for his collaboration with two of Bollywood biggest superstars, late Rajesh Khanna and Jeetendra.

✔He also produced box office hits like Ayee Milan Ki Bela, Aaye Din Bahar Ke, Aya Sawan Jhoom Ke, Aas Paas and Aandhi.

9. NATION CELEBRATES NATIONAL HANDLOOM DAY ON AUGUST 7

✔India celebrates National Handloom Day every year on 7th August. The day is celebrated to honour the handloom weavers in the country and also highlight India’s handloom industry.

✔Bhubaneswar has been chosen as the venue for the celebrations of the day for its rich tradition of Handlooms. The prime objective of holding the National Handloom Day in Bhubaneswar is to empower women and girls.

✔National Handloom Day seeks to focus on the contribution of handloom to the socio economic development of the country and also increase the income of weavers.

10. RAJASTHAN GOVERNMENT LAUNCHES NEW HIGHER EDUCATION MODEL NAMED RACE

✔Minister of State for Higher Education Bhanwar Singh Bhati inaugurated the new higher education model, titled Resource Assistance for Colleges with Excellence (RACE) in Rajasthan.

✔This model has been launched for distribution of faculties and movable assets among the government colleges at the district level to rationalise the availability of resources. The model will create a pool for sharing of facilities which will benefit the colleges lacking infrastructure.