Current Affairs of 2 January


Amitabh Chaudhry
Amitabh Chaudhry
Amitabh Chaudhry - Axis Bank announced its Managing Director and CEO Shikha Sharma has retired from the post and Amitabh Chaudhry will be the new managing director and CEO of the bank with effect from January 1, 2019.


Justice Thottathil Bhaskaran Nair Radhakrishnan
Justice Radhakrishnan
Justice Thottathil Bhaskaran Nair Radhakrishnan - Justice Thottathil Bhaskaran Nair Radhakrishnan was on January 1, 2019 sworn in as the first Chief Justice of the Telangana High Court. With this, the state of Telangana will have its first independent high court. Prior to this, Justice Radhakrishnan had been serving as the Chief Justice of the High Court of Judicature at Hyderabad for both the states of Telangana and Andhra Pradesh.

Cabinet Approved Merger Of Three PSB
Merger Of Three PSB
Cabinet Approved Merger Of Three PSB - Union Cabinet approved the proposal to merge Bank of Baroda (BoB), Vijaya Bank and Dena Bank with an aim to make it India’s third largest bank. The merger will become effective from April 1 2019. Of the three banks, Dena Bank is the weakest bank with highest NPA ratio of 11.04% and lowest business of merely Rs 1.72 lakh crore as compared to 5.4% NPA and Rs 10.2 lakh crore worth business of Bank of Baroda and 4.10% NPA and Rs 2 lakh crore worth business of Vijaya Bank.

Amendment in Aadhar Act
Amendment in Aadhar Act
Amendment in Aadhar Act - The government introduced a bill in the Lok Sabha that will allow individuals to offer voluntarily biometric ID Aadhaar as a means of identity verification for obtaining services like opening a bank account and getting a mobile phone connection. The bill also gives a minor an option to opt out of the 12-digit identity scheme on attaining the age of 18 years. The bill proposes a civil penalty of up to Rs 1 crore on entities that violate the provisions of the Aadhaar Act, with an additional fine of up to Rs 10 lakh per day in case of continuous non-compliance. 

GAFA Tax
GAFA Tax
GAFA Tax - The finance minister of France Bruno Le Maire announced that France will introduce its own tax on large internet and technology companies from January 1. France has been pushing hard for a new so-called “GAFA tax” -- named after Google, Apple, Facebook and Amazon -- to ensure the global giants pay a fair share of taxes on their massive business operations in Europe.

Paytm Payments Bank Allowed To Open New Accounts
Paytm Payments Bank
Paytm Payments Bank Allowed To Open New Accounts - The Reserve Bank of India (RBI) has allowed Paytm Payments Bank to restart opening new accounts for its consumers after almost six months of the ban. Paytm Payments Bank stopped enrolling new customers in June 2018, following an audit by the RBI, which made certain observations about the process the company follows in acquiring new customers and its adherence to know-your-customer (KYC) norms.

Automatic Exchange Of Information
Automatic Exchange Of Information
Automatic Exchange Of Information - India will start receiving from Switzerland this year information relating to financial accounts held by Indians in Swiss banks on automatic basis. Switzerland has been long perceived as one of the safest havens for illicit wealth allegedly stashed abroad by some Indians. In 2016, India and Switzerland signed a joint declaration relating to automatic exchange of information (AEOI) relating to tax.

Apache and Chinook Helicopter
Apache Helicopter
Apache and Chinook Helicopter - India will start taking deliveries of the Boeing AH-64E Apache Longbow attack Helicopters and Chinook CH 47F (I) helicopters. The delivery of Apache helicopters by the company will start in July and will be completed by March 2020 and the delivery of the Chinooks which starts in March this year too is expected to be completed by March 2020. The helicopters coming through the Foreign Military (FMS) route was inked in 2015 worth $3 billion for 22 Boeing AH-64E Apache Longbow attack Helicopters and 15 Chinook heavy-lift machines.

Jasprit Bumrah
Jasprit Bumrah
Jasprit Bumrah - The 25-year-old fast bowler Jasprit Bumrah became the highest international wicket-taker across formats in 2018. He took a total of 78 wickets in the calendar year. Bumrah surpassed South Africa's Kagiso Rabada's tally of 77 wickets to reach the milestone.

Ramakant Achrekar
Ramakant Achrekar
Ramakant Achrekar - Well-known cricket coach Ramakant Achrekar has died aged 87. Achrekar was born in 1932 and played a key role in shaping up Tendulkar’s career over the years. In 1990, Achrekar was conferred with the Dronacharya Award for Outstanding coaches in Sports and Games. He was honoured with one of the country’s highest civilian award the Padma Shri in 2010. 

Gau Kalyan Cess
Gau Kalyan Cess
Gau Kalyan Cess - The UP government has introduced a “gau kalyan” (cow welfare) cess, a 0.5% additional levy on excise items, which could include alcohol apart from toll tax, as well as several public sector infrastructure companies, to fund construction and maintenance of cow shelters across the state.

Jair Bolsonaro
Jair Bolsonaro
Jair Bolsonaro - Jair Bolsonaro, was sworn in as president of Brazil. Mr. Bolsonaro took over as President at a ceremony held in the capital Brasilia. Contesting from Social liberal party, Mr Bolsonaro,  won the presidential election by a wide margin against Fernando Haddad of the left-wing Workers Party on 28 October. 

Capital Infusion in PSB
Capital Infusion in PSB
Capital Infusion in PSB - The government has infused 10,882 crore Rupees in four public sector banks, including UCO Bank and Syndicate Bank. It is a part of 28,615 crore rupees capital infusion to be done in about half a dozen public sector lenders. UCO Bank has received 3,074 crore rupees. Besides, Bank of Maharashtra got 4,498 crore rupees, Syndicate Bank 1,632 crore rupees and Central Bank of India 1,678 crore rupees.

25 States Achieved 100% Electrification
100% Electrification
25 States Achieved 100% Electrification - The country achieved yet another milestone in the power sector with the completion of electrification in 100% households in 25 states at year end. Now, only about 10.48 lakh households are left to be electrified in 4 states - Assam, Rajasthan, Meghalaya and Chhattisgarh. The central government launched 'Pradhan Mantri Sahaj Bijli Har Ghar Yojana' (Saubhagya) in September 2017 to achieve the goal of universal household electrification in the country by 31 March, 2019.

Allahabad Bank and SBI Life Signed Pact
Allahabad Bank and SBI Life Signed Pact
Allahabad Bank and SBI Life Signed Pact - Allahabad Bank and SBI Life Insurance came together and signed a bancassurance pact, to offer a holistic financial planning solution to consumers. This will empower the consumer to address their complete financial needs under one roof. The tie-up, one of the largest Bancassurance partnerships in the country.

Growth Outlook for 2019
Growth Outlook
Growth Outlook for 2019 - In its ‘Growth Outlook for 2019’, Confederation of Indian Industry (CII) stated that the GDP growth will be in the range of 7.5% in 2019. A settled goods and services tax (GST), improving credit availability and capacity expansion from increasing investment in infrastructure are among seven key drivers that will help Indian economy grow 7.5% in 2019. 

National Health Authority
National Health Authority
National Health Authority - The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the restructuring of existing National Health Agency as "National Health Authority" for better implementation of Pradhan Mantri - Jan Arogya Yojana (PM-JAY).