- Recently, Home Ministry in a notification declared Jamaat-ul-Mujahideen- Bangladesh, also known as Jamaat-ul-Mujahideen- India or Jamaat-ul-Mujahideen- Hindustan as a banned terrorist organization. The Home Ministry has given the reason for banning the outfit due to its committed acts of terrorism, promoted acts of terrorism and recruitment of youths for terrorist activities in India. The outfit was banned under the first schedule to the Unlawful Activities (Prevention) Act, 1967.
- On May 24, 2019, Union Cabinet has passed a resolution for the dissolution of 16th Lok Sabha for the formation of new Government after the Prime Minister Narendra Modi led the Bharatiya Janta Party (BJP) won the Lok Sabha elections. The tenure was supposed to end on June 3, 2019. Official data from the Election Commission showed that BJP had secured 303 seats (352 with the coalition) out of 542, 22 more than 2014 elections. Indian National Congress led by Rahul Gandhi secured 52 seats. The process of constituting 17th Lok Sabha will begin after the handover of the list of newly elected members to the President Ram Nath Govind, the head of the Parliament, by the Election Commission. The dissolution of the Lower House is announced as per Article 83 (2) of the Indian constitution. It is speculated that the swearing-in of the new government will be held on May 30, 2019.
- Indian delegation participated in 2nd Shanghai Cooperation Organisation (SCO) Mass Media Forum at Bishkek in Kyrgyzstan. It is a 4-day forum inaugurated by the President of Kyrgyz Republic, S.Jeenbeko held from 23-26 May 2019. The Indian delegation was represented by the Ministry of Information & Broadcasting which included TVK Reddy, Addl. Director General and Ankur Lahoty, Asst. Director. The main aim is to strengthen the exchange & cooperation in the field of mass media amongst SCO countries. Indian delegation featured the vital role of the Ministry of Information and Broadcasting in the development of the mass media landscape within the country. The SCO Member states adopted the resolution of media forum which calls for establishing successful collaborations of Mass Media Organisations of the SCO member countries. The delegation invited all the SCO member delegates to the Golden Jubilee edition of International Film Festival of India to be held in Goa in November 2019.
- World Health Organisation (WHO) in its report, introduced a new strategy to prevent & control snake bite envenoming, a neglected tropical disease which affects 1.8 to 2.7 million people every year and 81,000 to 1,38,000 people died. The objective of this strategy is to halve the number of deaths and cases of disability due to snake envenoming over the next 12 years. This new strategy unveiled by WHO was developed by a 28 member panel of Global experts in consultation with WHO regional offices, the scientific and research community, health foundations, advocacy groups, and other stakeholders. The impact of snake venom is very serious. It can cause paralysis that stops breathing, bleeding disorders, irreversible kidney failure and tissue damage that can cause permanent disability and limb loss. According to WHO reports, the most affected people with snake bites are living in the world’s tropical and poorest regions, and children are worse affected due to their smaller body size.
- China has been using CGFC-11 or Trichlorofluoromethane, a banned Ozone-depleting chemical. This was published in the journal Nature. It is against the 1987 Montreal Protocol. As per the study released in May 2018, emissions of CFC-11 were on the rise since 2013. It witnessed 25% since 2012. Between 2008 and 2012, eastern China emitted an average of about 6400 metric tonnes of CFC-11 per annum and it was increased to 13,400metric tonnes per annum from 2014 to 2017. China is the world’s largest Polyurethane foam market. According to the UK based Environmental Investigation Agency (EIA), the Chinese foam manufacturers have been using CFC-11 illegally to save on the higher cost of alternatives such as hydrochlorofluorocarbons like HCFC-141b and factories in Shandong province were still making and using gas to manufacture foam insulation.
- The full form of LCR is the Liquidity Coverage Ratio.
- The Reserve Bank of India (RBI) has introduced the “Liquidity Risk Management Framework for Non-Banking Financial Companies and Core Investment Companies” for public comments by June 14, 2019. The eligible entities for this draft framework are all deposit-taking NBFC’s; non-deposit taking non-banking financial companies (NBFCs) with an asset size of over Rs.100 crore and all core investment companies (CICs) registered with RBI.
- Reserve Bank of India (RBI) has introduced the “Liquidity Risk management Framework for Non- Banking Financial Companies and Core Investment Companies” for public comments by June 14, 2019. To introduce Liquidity Coverage Ratio (LCR) for all deposit-taking NBFC’s and non-deposit taking NBFC’s with an asset size of Rs.5000 core & above. Starting from April 2020, NBFC’s will have to maintain a minimum of 60% of LCR as highly liquid assets which will be increased to 100% by April 2024. LCR is the proportion of highly liquid assets set aside to meet short term obligations.
- Corporation Bank has launched a new product named ‘Corp SME Suvidha’ for GST registered Micro, Small & Medium Enterprises (MSME). It was launched by P V Bharathi, Managing Director & Chief Executive Officer of Corporation Bank in Mangaluru in presence of Gopal Murli Bhagat, Executive Director, and general managers. The newly designed product is part of a bank’s efforts to provide the best products to the MSME sector. During the financial year 2018-19, the bank had settled altogether 987 claims under the Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), 776 claims for the last fiscal along with 45 claims of April 2019 were settled. Under PMSBY, 211 claims for the last fiscal along with 10 claims of April 2019 were settled.
- United Nation (UN)’s International Labour organization (ILO) in its report titled “Women in Business and Management: The business case for change” revealed that those companies which improve gender diversity especially at the top, perform better and rake in higher profits. The report was based on the findings on a survey of nearly 13,000 companies across 70 countries. During the survey, around 57% of the people acknowledged that growing the number at the top made it easier to attract & retain talent and around the same, the number of people had acknowledged that it approves creativity, innovation, and openness and also enhance the company’s reputation. The ILO’s report also analyzed data from 186 countries between 1991 and 2017 which revealed that increasing women’s employment is directly associated with more economic growth at the national level. The data from the report also showed that in the last decade women’s employment has grown worldwide but, they still remain 26% less likely to hold a job than men.
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