Current affair of 10 August, 2019

1. Project ‘SWAYAM’ Launched By HRD Ministry

The Ministry of HRD has embarked on a major and new initiative Project called 'Study Webs of Active Learning for Young Aspiring Minds' (SWAYAM), which will provide one integrated platform and portal for online courses.

Key highlights:

1. This covers all higher education subjects and skill sector courses. The objective is to ensure that the every student in our country has access to the best quality higher education at the affordable cost.
2. It is intended to host about 2000 courses and 80000 hours of learning material, within two years: covering school, under-graduate, post-graduate, engineering, law and other professional courses.
3. Academicians from hundreds of institutions throughout the country are involved in developing & delivering MOOCs through SWAYAM in almost all disciplines from senior schooling to Post Graduation wherein it is intended to develop world class content. 

2. Madhya Pradesh Government Observes Adivasi Diwas

The Madhya Pradesh government is observing Adivasi Diwas today. It has also announced a holiday in 20 tribal-dominated districts. Our correspondent reports that BJP leaders would visit tribal areas to meet the people and highlight their achievements.

Key highlights:

1. The State government would facilitate achievers from the tribal community and distribute certificates to beneficiaries of various welfare schemes. The Govt also felicitate meritorious tribal students.
2. Furthermore,the MP government also plans to hold cultural events in all 89 tribal-dominated blocks.
3. Tribals form 21 per cent of MP’s population and are a decisive force in elections as they are the second largest vote bank after OBCs.

3. HSBC Launched Online Platform ‘MyDeal’

HSBC launches online platform MyDeal to raise funds via capital markets. New Delhi: HSBC has launched a new digital platform to simplify capital raising process through capital markets by providing real-time access to information such as investors' feedback, profiles, client orders and deal pricing.

Key highlights:

1. The platform—MyDeal, contains all the information relating to a client’s capital markets transaction, and is updated on real time basis.
2. MyDeal has raised over $25 billion in the first seven months through over 30 transactions globally.
3. HSBC plans to release the app through the online store for clients to use directly later this year.

4. RBI To Pay Rs 50,000 Crore Dividend To Government For FY18

The RBI has decided to pay Rs 50,000 crore as dividend to government in line with the Union Budget provisions, helping the Centre stick to its fiscal roadmap.

Key highlights:

1. The Reserve Bank of India (RBI) decided to transfer an interim dividend of Rs 28,000 crore to the government in the current financial year (2018-19 or FY19) at its board meeting on Monday.
2. The Reserve Bank, which follows July-June financial year, has paid about 63 per cent higher dividend than previous year (2016-17).
3. The RBI made a dividend payout of Rs 30,659 crore for the fiscal ended June 2017.

5. IMF Forecasts India’s GDP To Grow At 7.3% In Current Fiscal

According to International Monetary Fund, India’s gross domestic product (GDP) is poised to grow by 7.3% in the 2018-19 fiscal and 7.5% in 2019-2020 on strengthening of investment and robust private consumption.

Key highlights:

1. The IMF announced that, the near-term macroeconomic outlook for India is broadly favourable.
2. The headline inflation is projected to rise to 5.2 percent in the fiscal year 2018-19, as demand conditions tighten, along with the recent depreciation of the rupee and higher oil prices, housing rent allowances and agricultural minimum support prices.
3. Global growth remains subdued. Since the April World Economic Outlook (WEO) report, the United States further increased tariffs on certain Chinese imports and China retaliated by raising tariffs on a subset of US imports. Additional escalation was averted following the June G20 summit.

6. PayPal Enters Into Pact With HDFC Bank

The Global technology platform and digital payments leader, PayPal, and HDFC Bank, the largest credit card issuer in India, have entered into a partnership

Key highlights:

1. It aims for safer, faster and more convenient payment experience for HDFC Bank cardholders and help drive incremental digital spend.
2. HDFC Bank has more than 35 million credit and debit cards issued in India, while PayPal is available across over 200 markets globally with a network of 19 million merchants.
3. HDFC cards will be presented as a payment option during enrolment and subsequent payments, with the ability for consumers to easily open PayPal accounts and set it as their preferred payment method.

7. MOPAD: SBI Launches Unified Payment Terminal

The State Bank of India (SBI) has launched the Multi-Option Payment Acceptance Device or MOPAD, a unified payment option that accepts multiple payment methods.

Key highlights:

1. Under this, customers will be able to pay through credit or debit cards, Bharat QR, Unified Payments Interface (UPI) and SBI Buddy (e-wallet) at a Point of Sale (PoS) terminal.
2. This initiative aims at providing digital convenience to customers and ease of doing business for merchants at the same time. A charge-slip as a proof of payment will be available for customers who pay through MOPAD.
3. The merchants get a single management information system (MIS) for all types of digital transactions, helping them to have total control over cash flows. This multipurpose initiative is expected to enhance the digital ecosystem and help the bank in driving the economy towards a less-cash society.

8. Government Extends TRAI Chief RS Sharma’s Tenure

The Unique Identification Authority of India (UIDAI), which issues Aadhaar, had thereafter asked people not to share their unique identification number publicly or pose such challenges to others.

Key highlights:

1. The government has extended the term of RS Sharma, the high-profile chairman of the Telecom Regulatory Authority of India (Trai), by another two years, a day before he was due to demit office.
2. This is the first time that aTrai chairman has been given a second term since the inception of the authority in 1997.
3. He was in July 2015 named as the TRAI chief for a three-year period. He is a 1978-batch (retired) IAS officer of Jharkhand cadre. Sharma has also worked as the Director General and Mission Director in the UIDAI.

9. Government Appoints S Gurumurthy On RBI Board

The government has appointed Chartered Accountant Swaminathan Gurumurthy, who is associated with the Rashtriya Swayamsevak Sangh affiliate Swadeshi Jagran Manch, on the board of the Reserve Bank of India.

Key highlights:

1. The Appointments Committee of the Cabinet has approved his appointment as non-official director on the central board of the RBI for a period of four years.He is also the editor of Tamil magazine Thuglak.
2. The government has also appointed businessman Satish Kashinath Marathe as another non-official director on the RBI board for four years.
3. The latest appointments take the total government appointed directors on the RBI board to 10, the maximum permitted. Besides, the government also has two government officials on the board. 

10. Michelle Bachelet Appointed As Next UN Human Rights Chief

United Nations Secretary-General António Guterres, following approval by the General Assembly, has appointed Michelle Bachelet of Chile the next United Nations High Commissioner for Human Rights.

Key highlights:

1. The UN Secretary-General Antonio Guterres has chosen former Chilean President Michelle Bachelet to be the world body’s new human rights chief.
2. Bachelet’s appointment will also needs to be approved by the 193-member UN General Assembly.
3. She would replace Jordan’s Zeid Ra’ad al-Hussein, who is stepping down at the end of the month after one four-year term.

11. Global Innovation Index, GII- 2018 Launched In India

Government and industry must synergise their efforts to promote R&D and innovation in the country. This was stated by Shri. Ratan P Watal, Principal Adviser, NITI Aayog & Member Secretary of the Economic Advisory Council to the Prime Minister at the India launch of Global Innovation Index 2018 in New Delhi on Wednesday 8th August 2018.

Key highlights:

1. The event was organized by the Confederation of Indian Industry (CII) – one of the founding partners of GII along with the World Intellectual Property Organization (WIPO), in collaboration with the Department of Industrial Policy and Promotion (DIPP).
2. India’s rank on the Global Innovation Index (GII) has improved from 60 in 2017 to 57 in 2018. India has been consistently climbing the GII ranking for the past two years.
3. Launching the index, Mr Watal said, “The culture of spending on research and development is growing in India and we are seeing the results in the form of improvements in rankings such as the GII.”

12. World Biofuel Day – 10 August

World Biofuel Day to be observed on 10th August 2019. World Biofuel Day is observed every year on 10th of August to create awareness about the importance of non-fossil fuels as an alternative to conventional fossil fuels and highlight the various efforts made by Government in the biofuel sector.

Key highlights:

1. Biofuels have the benefits of reduction of import dependence, cleaner environment, additional income to farmers and employment generation.  
2. Biofuel programme also compliments Government of India’s initiatives for Make in India, Swachh Bharat and increasing farmers income.  
3. A number of initiatives have been undertaken to increase production and blending of biofuels since 2014.
4. The National Policy on Biofuels, released by the Government of India in 2018, envisages production of biofuel from UCO. Food Safety and Standards Authority of India (FSSAI) is implementing a strategy to divert UCO from the food value chain and curb current illegal usage.