Daily Current Affairs 25th July 2019 For All Government Examinations

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Govt approves merger of NIMH with ICMR-NIOH

The Union Cabinet, chaired by the Prime Minister Narendra Modi has approved to dissolve National Institute of Miners' Health (NIMH) and merge it with ICMR-National Institute of Occupational Health (NIOCH).

Also Read: Govt approves creation of sugar buffer stock of 40 LMT for 1 yr

The Cabinet has approved to dissolve National Institute of Miners' Health (NIMH), an autonomous institute under Ministry of Mines (MoM) and merge/ amalgamate with ICMR-National Institute of Occupational Health (NIOH), Ahmedabad, Ministry of Health and Family Welfare with all assets and liabilities and absorb all the employees of NIMH in NIOH in similar post/pay scale as the case may be and their pay be protected.

The merger / amalgamation of NIMH with NIOH will prove beneficial to both the Institutes in term of enhanced expertise in the field of occupational health besides the efficient management of public money........Read More

Govt approves creation of sugar buffer stock of 40 LMT for 1 yr

The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi has approved the creation of a buffer stock of 40 lakh metric tonnes (LMT) of sugar for one year from August 1, 2019 to July 31, 2020.

The government will spend an estimated Rs 1,674 crore for this purpose. The decision of approving a buffer stock is to maintain demand-supply balance and to stabilise sugar prices.

However, based on the market price and availability of sugar, this may be reviewed by the Department of Food and Public Distribution any time for withdrawal or modification.

The reimbursement under the scheme would be met on a quarterly basis to sugar mills which would be directly credited into farmers’ account on behalf of mills against cane price dues and subsequent balance, if any, would be credited to the mill’s account.

Also Read: Govt approves merger of NIMH with ICMR-NIOH

The decision will lead to an improvement in the liquidity of sugar mills, reduction in sugar inventories, stabilisation in sugar prices by alleviating of price sentiments in the domestic sugar market and thereby facilitate the timely clearance of cane price dues of farmers.......Read More

Cabinet approves Determination of ‘Fair and Remunerative Price’of sugarcane payable by sugar mills for 2019-20 sugar season

The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi has approved the proposal in respect of Determination of ‘Fair and Remunerative Price’ of sugarcane payable by sugar mills for 2019-20 sugar season.

The FRP is based on the recommendation of the Commission of Agricultural Costs & Prices (CACP) as per its report of August 2018 on the price policy for sugarcane for the 2019-20 season.

The CACP has recommended the same price for the 2019-20 sugar season as it was for the sugar season 2018-19. The CCEA also approved to provide a premium of Rs. 2.75 per qtl for every 0.1% increase above 10% in the recovery.

India Ranked 52nd in Global Innovation Index-2019

According to the Global Innovation Index (GII) rankings released by the Union Commerce and Industry Minister Piyush Goyal, India has improved its ranking in the global innovation index by five places to 52nd in 2019 from 57th position in the last year.

Global Innovation Index (GII) theme of this year which is Creating Healthy Lives - The Future of Medical Innovation.

The GII rankings are published every year by Cornell University, INSEAD and the UN World Intellectual Property Organization (WIPO) and GII Knowledge Partners. This is the 12th edition of the GII rankings of 129 economies based on 80 indicators ranging from intellectual property filing rates to mobile-application creation, education spending and scientific and technical publications.

Digital Commission upholds Rs 3,050 crore fine against Airtel, Vodafone Idea

The Digital Communications Commission (DCC) upheld the telecom regulator’s decision to levy a penalty of ₹3,050 crore on Bharti Airtel Ltd and Vodafone Idea Ltd for denying interconnection ports to Reliance Jio Infocomm Ltd.

Reliance Jio had filed a complaint with Telecom Regulatory Authority of India (TRAI) that 75 per cent of calls on its network were failing as incumbent telecom operators were not releasing the sufficient number of points of interconnection.

IDFC First Bank reports Rs 617 cr loss for June quarter

Private sector lender IDFC First Bank posted a ₹617 crore loss for the April-June quarter. The bank reported a net loss of ₹617 crore for the quarter ended June 30, 2019.

The bank had reported a net profit of Rs 181 crore in the April-June period of the previous fiscal. Bank reported loss of Rs 617 crore for the quarter ended June 30, 2019. As a prudent measure, the bank took provision coverage to 75 per cent for two identified corporate loans in the financial services sector.

India may launch $10 billion global bond sale in October: Report

The government is considering an option to raise $10 billion in one go from its first overseas bond sale as early as October, according to people familiar with the matter.

Finance Minister Nirmala Sitharaman announced the offshore bond sale plan in the annual budget, amid shrinking options to raise funds to boost spending on infrastructure.

Jonty Rhodes applies for Team India's fielding coach job

Former South Africa cricketer Jonty Rhodes has applied for the position of India's fielding coach, after the Board of Control for Cricket in India (BCCI) invited application for the position of head coach and support staff for the Indian team.

Byju's to replace Oppo on Cricket Team India jersey

Come September, there will be a new brand name on Cricket Team India jerseys. Chinese mobile-maker Oppo, which had made a winning bid of about Rs 1,079 crore for the jersey rights in March 2017 for a period of five years, will make way for Byju's, the Bangalore-based educational technology and online tutoring firm.

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Daily Current Affairs 25th July 2019 For All Government Examinations