DAILY GK 6 AUG 2019
1. CENTRE
TO REPEAL OF ARTICLE 370 AND 35A THAT GRANTS SPECIAL STATUS TO J&K
✔Government
announced to repeal Article 370 [except the first clause 370 (1)] and Article
35A which grants special status to Jammu and Kashmir (J&K).
✔Union
Home Minister Amit Shah introduced the Jammu and Kashmir Reorganization Bill,
2019 in Rajya Sabha which seeks to bifurcate the state of Jammu and Kashmir
into 2 Union territories – J&K a Union Territory with Legislature, and
Ladakh Union Territory without Legislature.
✔President
Ram Nath Kovind in “concurrence” with the “Jammu and Kashmir government”
promulgated Constitution (Application to Jammu and Kashmir) Order, 2019 which
states that provisions of the Indian Constitution are applicable in the state.
It comes into force “at once”, and shall supersede the Constitution
(Application to Jammu and Kashmir) Order, 1954.
2. RBI
IMPOSES FINE ON 9 COMMERCIAL BANKS FOR NON-COMPLIANCE RELATING TO REPORTING OF
FRAUDS
✔India’s
central banking institution RBI has imposed a penalty on nine commercial banks
for violations of norms including delay on the reporting of fraud in the
account of Kingfisher Airlines by two banks.
- Punjab
National Bank - Rs 50 lakh- Delay in
reporting of fraud in the account of Kingfisher Airlines.
- Oriental
Bank of Commerce - Rs 1.5 crore - Delay in reporting fraud in the account
of Kingfisher Airlines.
- United
Bank of India - Rs 1 crore - Non-compliance relating to reporting of
frauds.
- Punjab
& Sind Bank - Rs 1 crore - Non-compliance
relating to reporting of frauds.
- State
Bank of India - Rs 50 lakh - Non-compliance
relating to reporting of frauds.
- Bank
of Baroda - Rs 50 lakh - Delay in reporting fraud in an account.
- Federal
Bank - Rs 50 lakh - Delay in reporting fraud in an account.
- Corporation
Bank - Rs 1 crore - Non-compliance with the directions on cybersecurity
framework and frauds classification and reporting.
- UCO
Bank - Rs 1 crore - Delayed reporting of fraud.
3. INSTANT
DEMAT ACCOUNT OPENING FACILITY LAUNCHED BY FEDERAL BANK FOR THE CUSTOMERS
✔Instant
Demat account opening facility which will help clients to open Demat account
instantly without any heavy paper works, was launched jointly by MD & CEO
of Federal Bank, Shyam Srinivasan and G.V Nageswara Rao, MD& CEO of NSDL.
✔The
Demat account can be opened by the customers in matter of a minute by logging
into FedNet which is the federal bank’s internet banking portal.
✔Doorstep
service for opening trading accounts is also equipped by the federal bank.
✔Banks
can disburse the loans against securities through LAS (Loan Against Securities)
facility
4. WALMART
TOPS EUROMONITOR’S 2019 LIST OF INDIA’S TOP RETAILERS
✔As
per the latest report “Top 100 Retailers in Asia 2019” by market research firm,
Euromonitor International, Walmart Inc has topped the rankings in India for 2018.
✔Amazon
(US) came on the second spot followed by Mumbai based retail company Future and
Reliance Group (4th position ) with $3.6
Bn GMV.WalmartKey points:
✔The
Indian list also includes Tata Group (5th) &One 97 Communications’
e-commerce unit, Paytm Mall (6th).
✔For
the list of the top 100 retailers in the whole Asian region, Alibaba Group
Holding Ltd (China) was ranked first.
5. NOEL
QUINN NAMED AS THE NEW HSBC’S INTERIM CEO
✔CEO
of HSBC John Flint steps down from his post after 1.5 years and is to be
replaced by Noel Quinn, head of HSBC’s global commercial banking unit.
✔The
lender bank also announced buyback of $1 Billion.
6. GOOGLE
BACKED FIRM -FYND’S MAJORITY STAKE ACQUIRED BY RELIANCE INDUSTRIES
✔7
year old Mumbai startup Fynd, which is a Google backed firm, is now acquired by
Reliance industries.
✔Reliance
industries will now be owning 87.6% stake in Fynd.
✔The
acquisition has been made at a cost of 2.95 Billion Indian rupees( $42.33 million).
7. LEWIS
HAMILTON WINS 7TH HUNGARIAN GRAND PRIX, TAKING HIS EIGHTH VICTORY OF THE SEASON
✔Formula
One Mercedes driver Lewis Hamilton hunted down Max Verstappen to win the
Hungarian Grand Prix for a record-extending seventh time and surge 62 points
clear in the championship standings.
