DAILY GK 7 JUNE 2019

DAILY GK 7 JUNE 2019

1. MUMBAI RANKED MOST CONGESTED CITY IN THE WORLD, DELHI RANKED 4TH: TRAFFIC INDEX 2018

✔The recent study “Traffic Index 2018”, analysis of current status of traffic mobility was conducted.

✔Mumbai is the most traffic congested city among 403 cities in 56 countries with a congestion level of 65 per cent, while New Delhi ranked fourth with a congestion of 58 per cent.

✔Top five most congested North American are in the list are: Mexico City (52 per cent), Los Angeles (41 per cent), Vancouver (38 per cent), New York (36 per cent) and San Francisco (34 per cent).

2. SECOND BI-MONTHLY MONETARY POLICY OF RBI 2019-20

✔The 2nd Bi-Monthly monetary policy statement has been released. On the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee at its meeting decided to:

✔Reduce the policy repo rate under the liquidity adjustment facility by 25 basis points to 5.75% from 6.00% with immediate effect.

✔Consequently, the reverse repo rate under the LAF stands adjusted to 5.50%, and the marginal standing facility rate and the Bank Rate to 6.0%.

✔The Reserve Bank of India lowered the economic growth forecast for the current fiscal to 7% due to a slowdown in domestic activities and escalation in global trade war.

3. RBI REMOVED CHARGES FOR RTGS AND NEFT TRANSACTIONS

✔The Reserve Bank of India has removed the charges levied on Real Time Gross Settlement and National Electronic Funds Transfer transactions to boost digital payments.

✔At present, the banks levy minimum charges for transactions done through RTGS system for large-value (Rs 2 lakh and above) instantaneous fund transfers and NEFT System for other fund transfers (below Rs 2 lakh).

✔The RBI has decided to set up a committee headed by Chief Executive Officer of Indian Banks Association to examine the scope of Automated Teller Machines charges and fees.

• Inward transactions at destination bank branches (for credit to beneficiary accounts): Free, no charges to be levied on beneficiaries
• Outward transactions at originating bank branches – charges applicable for the remitter
• For transactions up to Rs 10,000 : not exceeding Rs 2.50 (+ Applicable GST)
• For transactions above Rs 10,000 up to Rs 1 lakh: not exceeding Rs 5 (+ Applicable GST)
• For transactions above Rs 1 lakh and up to Rs 2 lakhs: not exceeding Rs 15 (+ Applicable GST)
• For transactions above Rs 2 lakhs: not exceeding Rs 25 (+ Applicable GST)

4. GDP GROWTH FORECAST LOWERED TO 7% FROM 7.2% FOR FY20

✔The RBI’s MPC lowered its Gross Domestic Product growth forecast to 7% from 7.2% for FY 20 due to slowdown in domestic activities and escalation in global trade war.

✔In the April monetary policy, the growth of Gross Domestic Product for 2019-20 was projected at 7.2% – in the range of 6.8-7.1% for the first half of the fiscal and 7.3-7.4% for the second part – with risks evenly balanced.

5. CII UNVEILED NEW INDEX TO MEASURE FISCAL PERFORMANCE

✔Confederation of Indian Industry has launched a Fiscal Performance Index to assess state and central budgets. The Index incorporates qualitative assessments of revenue expenditure, capital expenditure; revenues, fiscal prudence and the level of public debt arrive at a more holistic picture of fiscal performance than the fiscal deficit to GDP ratio according to the CII.

✔The index will consider expenditure on infrastructure, education, healthcare and other social sectors beneficial for economic growth compared to other revenue expenditure. It will also consider tax revenues a more sustainable source of revenues for the government as compared to one-time income sources.

6. JAY-Z IS THE WORLD’S 1ST BILLIONAIRE RAPPER AS PER FORBES MAGAZINE

✔Jay-Z has been named the world’s first billionaire rapper by Forbes.

✔Apart from a $100 million stake in subscription-based streaming service Tidal, the 49-year-old rapper’s assets also include shares in Uber and an art collection worth $70 million each. His wife Beyonce’s net worth is estimated to be around $350 million.

7. BSF OFFICER S S CHAHAR POSTED AS BSF ACADEMY HEAD

✔S S Chahar, 1983-batch BSF-cadre officer is appointed as the Director of the Border Security Force, Tekanpur, Madhya Pradesh – an Additional Director General rank till 2021.

✔He has received honors like the Vishisht Seva Medal and police medals for meritorious and distinguished services.

8. TIJJANI MUHAMMAD-BANDE ELECTED AS UNGA PRESIDENT

✔Nigeria’s Ambassador to the UN Tijjani Muhammad-Bande was elected as the President for 74th session of United Nations General Assembly.

✔He will be succeeding Maria Fernanda Espinosa. He is the second Nigerian UNGA president after Joseph Nanven Garba.

9. GIANNI INFANTINO RE-ELECTED AS FIFA PRESIDENT

✔Swiss–Italian football administrator Gianni Infantino has been re-elected as President of Federation Internationale de Football Association.

✔He is a Lawyer from Valais region of Switzerland and Hold Italian Nationality. He was elected President of FIFA in 2016.

10. GOOGLE MAP LAUNCHED NEW PUBLIC TRANSPORT FEATURES IN INDIA

✔A web mapping service, Google map launched three India-First features targeted at Public transport users to access public transport quickly and easily.

✔It stated that Google map users now can see the bus travel times from live traffic data across 10 cities, get to know the real time train status on the platform as well as get commute suggestions that combines public transport and auto-rickshaws.

11. ‘CZAR OF INDIAN CUISINE’ JASPAL INDER SINGH KALRA DIED

✔Jaspal Inder Singh Kalra known as Jiggs kalra, celebrated chef and culinary revivalist passed away at the age of 71.

✔He has many titles like “Czar of Indian Cuisine” and “Taste maker to the Nation”. the Government of India named him as advisor to the India Trade Promotion Organization in 1997.