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Sunday, May 10, 2020

DAILY GK 9 MAY 2020


DAILY GK 9 MAY 2020
1. SC RULING: COOPERATIVE BANKS COME UNDER SARFAESI ACT, 2002
·        Supreme Court passed a ruling that co­operative banks established under a State law or multi-State level societies come under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act of 2002.
·        In this regard, the Section 2(1)(c) of SARFAESI Act of 2002 empowers the cooperative banks with recovery procedures including seize and sell defaulters’ assets.
·        The recovery procedure u/s (under section) 13 of the Act is also applicable to such banks.
·        SARFASI rights enable cooperatives get better control over handling defaults and on the negotiation table with defaulters.
2. RAJNATH SINGH APPROVES ABOLITION OF 9,304 POSTS IN MES
·        On the recommendation of the Committee of Experts (CoE), headed by Lt General DB Shekatkar, Raksha Mantri (Minister of Defence) Rajnath Singh has approved the proposal of Engineer-in-Chief of Military Engineering Services (MES), Lt Gen Sanjeev Kumar Shrivastava, for abolition of 9,304 posts in MES out of the total 13,157 vacancies of the Basic and Industrial staff.
·        The decision has been taken to increase combat capability and rebalance defence expenditure of Armed Forces and to make MES an effective organisation with a leaner workforce so that complex issues can be handled in an efficient and cost effective manner.
·        The recommendations by the committee, if implemented over the next five years, can result in savings of up to Rs 25,000 crore in defence expenditure.


3. NABARD DISBURSES RS 12,767 CRORE
·        The National Bank for Agriculture and Rural Development(NABARD) disburses Rs 12,767 crore to State Co-operative(Co-op) Banks & Regional Rural Banks(RRBs) across the country to increase their resources for extending credit to farmers during the lockdown due to the outbreak of COVID-19 pandemic.
·        In total there are 33 State Co-ops & 45 RRBs in the country & are vital intermediaries in the rural credit structure.
4. US-BASED VISTA EQUITY PARTNERS TO BUY 2.32% STAKE IN JIO
·        As per the Reliance Industries Limited’s statement, the US-based private equity firm Vista Equity Partners to buy 2.32% stake in Reliance’s  Jio Platforms, for Rs 11,367 crore which will make Vista the largest investor in Jio Platforms after Reliance Industries and Facebook.
·        After this investment, Jio platforms will have an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.
·        Facebook has bought a  9.99% stake in Jio Platforms for Rs 43,574 crore on April 22.
·        The deal was followed by US private equity firm Silver Lake, the world’s largest tech investor, bought 1.15% stake in Jio Platforms for Rs 5,665.75 crore on May 4.
5. WORLD RED CROSS AND RED CRESCENT DAY 2020, MAY 8
·        Globally May 8th is celebrated as the World Red Cross Day and Red Crescent Day every year this day is to celebrate and acknowledge the volunteers who help the people in need and to commemorate the birth anniversary of Henry Dunant the founder of International Committee of the Red Cross(ICRC) born on 8 May 1828.
·        The first Red Cross Day was adopted on May 8, 1948.
6. WORLD THALASSAEMIA DAY 2020: MAY 8
·        Theme: “The dawning of a new era for thalassaemia: Time for a global effort to make novel therapies accessible and affordable to patients”.
7. YOGI ADITYANATH LAUNCHES ‘PRAVASI RAAHAT MITRA’ APP
·        CM Yogi Adityanath launched the ‘Pravasi Raahat Mitra’ mobile application developed by the state revenue department in collaboration with United Nation(UN) Development Program to provide support for the migrant workers of Uttar Pradesh in other states to access the advantages of the government schemes.
·        Also UP has become the first state in the country to provide the facility of beds with ventilators in hospitals of  all 75 districts of state.
·        In order to curb the spread of COVID-19 in every village through community surveillance, the government has constituted a Village Supervision Committee or Gram Nigrani Samiti.
·        UP government has passed an ordinance ‘Uttar Pradesh Temporary Exemption from Certain Labour Laws Ordinance, 2020’, to suspend most of the labour laws for 3 years.

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