Current Affairs Headlines - 03 January 2019

Current Affairs Headlines - 03 January 2019 - Fifteen useful headlines - for all examinations

CA - 15 HEADLINES

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News followed by its category

1. The Union Cabinet approved the merger of Vijya Bank and Dena Bank with Bank of Baroda, which will creat country's second largest public sector lender after SBI. This merger is to try and build a stronger, better bank given the NPA crisis. (Indian Economy)
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2. The RBI has appointed an eight-member expert committee headed by former SEBI chairman U.K. Sinha to comprehensively review and propose long-term solutions for revival of the micro, small and medium enterprises (MSME) sector. The sector was hit hard by demonetisation (Nov.2016) and patchy rollout of GST (July 2017). (Governance and Institutions / Indian Economy)
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3. According to the Finance Ministry, the direct tax-to-GDP ratio of 5.98 per cent achieved during 2017-18 fiscal is the best in the last 10 years. It was 5.57 per cent in 2016-17 and 5.47 per cent in 2015-16. Tax to GDP ratio indicates the fiscal legroom available with the government to carry out projects and public spending. (Indian Economy)
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4. For the first time, Jet Airways India Ltd. has missed payment to lenders, prompting ratings agency ICRA to downgrade the rating to ‘D’ or default grade due to the default and the inability of the airline to mobilise funds to improve liquidity. The share price of the air carrier ended the day with a decline of 6.16% on the BSE. The Indian civil aviation sector is growing, but airlines companies aren't doing well. (Indian Economy)
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5. Ford India reported a 18% decline in its combined domestic and exports sales in December at 24,420 vehicles compared to 29,795 vehicles in the same month last year. (Indian Economy)
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6. Twenty four AIADMK members were suspended by Lok Sabha Speaker Sumitra Mahajan on January 2 for the next five consecutive sittings for protesting and creating ruckus continuously in the House over the Cauvery issue. Some parties allege they are working intentionally to disrupt proceedings. (Indian Politics)
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7. The government released the 6-croreth LPG connection under PMUY (Pradhan Mantri Ujjwala Yojana). LPG coverage has risen from 55% in 2014 to 90% in present. This is a commendable achievement from the health perspective of rural women.(Energy / Social Issues)
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8. The domestice-pharmacy market is poised to touch Rs. 25,000 crore by 2022, at a robust CAGR of 63%. This rapid increase is because of three reasons. First, increased access of medicines to a majority of under-served population. Second, long term drug compliance for chronic conditions and third, rising internet penetration. (Indian Economy)
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9. Suzuki Motorcycle India Pvt. Ltd. (SMIPL) reported a 34% increase in domestic sales to 43,874 units in December 2018, as against 32,786 in the year-earlier period. (Indian Economy)
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10. Oil PSUs sign agreement with IIT-Bombay to set up a Centre of Excellence in Oil, Gas and Energy. Given the dependence on crude imports, India needs to find more efficient ways of using what it imports. (Energy)
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11. On first day of 2019, estimated 395,000 babies born worldwide, most (69,944) in India, says UNICEF. India's population exceeds 135 crores now. (Social Issues / UN)
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12. Sachin Tendulkar's childhood coach Ramakant Achrekar dies in Mumbai at 87. He was the recipient of Dronacharya Award. (People and Personalities)
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13. The Vishwa Hindu Parishad (VHP) said that the Hindu society cannot wait till eternity for the construction of a Ram temple in Ayodhya. This statement came after PM Narendra Modi’s statement that he would not bring legislation for the temple before the legal process got over. (Religion / Social Issues)
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14. The Tantri of the Sabrimala shrine has closed the temple for purification rituals after the entry of two women of menstruating age on January 2. Experts say this move is in violation of Article 17 of Indian constitution that abolishes untouchability. (Constitution and Law / Religion)
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15. On the first working day of 2019, the Lok Sabha witnessed an intense battle between Congress president Rahul Gandhi and Finance Minister Arun Jaitley over the Rafale fighter aircraft deal. Mr. Gandhi accused Prime Minister Narendra Modi of “hiding in his room as he doesn’t have the guts to confront questions” and repeated his party’s demand for a Joint Parliamentary Committee (JPC) to probe the Rafale deal.  (Defence and Military / Indian Politics)
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