Current Affairs of 5 February


Sangeet Natak Akademi Awards
Sangeet Natak Akademi Awards
Sangeet Natak Akademi Awards - The President, Ram Nath Kovind will confer the prestigious Sangeet Natak Akademi Awards for the year 2017 at Rashtrapati Bhawan. The General Council of the Sangeet Natak Akademi selected 42 artists from the field of Music, Dance, Theatre, Puppetry and Overall contribution/scholarship in the Performing Arts for the Sangeet Natak Akademi Awards 2017 at its meeting in Imphal, Manipur that was held on June 8, 2018.

INSTEX  is New Transactional Channel
INSTEX  is New Transactional Channel
INSTEX  is New Transactional Channel - The United Kingdom along with other European nations such as Germany and France set up a new transaction channel called ‘INSTEX’ that will allow companies to continue trading with Iran despite US sanctions. INSTEX is short for ‘instrument in support of trade exchanges’. Though the payment channel is a project of Britain, France and Germany, it will receive the formal endorsement of all 28 EU members.

Shehri Samridhi Utsav
Shehri Samridhi Utsav
Shehri Samridhi Utsav - The Union Ministry of Housing & Urban Affairs launched the Shehri Samridhi Utsav, an initiative that aims to extend the outreach of Deendayal Antyodaya Mission – National Urban Livelihoods Mission (DAY-NULM) to the most vulnerable. The event will facilitate access of Self-Help Group (SHG) members to the other government schemes.

No Charges on Kisan Credit Card
No Charges on Kisan Credit Card
No Charges on Kisan Credit Card - The Indian Banking Association issued advisory guidelines requesting banks to waive off the processing, documentation, inspection, ledger folio charges and all other service charges for crop loans up to Rs 3 Lakhs or for the Kisan Credit Card Scheme. The move aims to provide direct benefit to farmers and ease the pressure on them.

India And Poland Signed MoU
India And Poland Signed MoU
India And Poland Signed MoU - The Union Ministry of Coal signed a Memorandum of Understanding with Ministry of Energy, Republic of Poland in New Delhi on cooperation in the field of coal mining. The MoU was signed between Haribhai Parathibhai Chaudhary, Minister of State for Coal and Mines and Grzegorz Tobiszowski, Secretary of State for Poland’s Ministry of Energy.

Two Regional Rural Banks Merged
Two Regional Rural Banks Merged
Two Regional Rural Banks Merged - Two regional rural banks (RRBs) - Pallavan Grama Bank and Pandyan Grama Bank - will be merged to form the Tamil Nadu Grama Bank as per the Finance Ministry notification. The integration will be effective from April 1. The new Tamil Nadu Grama Bank will be under the sponsorship of Indian Bank with head office in Salem.

ADB Bought Stake in Annapurna Finance
Annapurna Finance
ADB Bought Stake in Annapurna Finance - The Asian Development Bank (ADB) has bought a 14% stake in micro-financier Annapurna Finance for Rs 137 crore. ADB has backed MFIs to help achieve its broader objective of reducing poverty in Asia and the Pacific.

Best Practices In The Budget Formulation
Budget Formulation
Best Practices In The Budget Formulation - Assam occupied the top slot in the ranking of best practices in the Budget formulation, followed by Andhra Pradesh and Odisha, as per a survey by Transparency International. The survey is based on 4 parameters which include public disclosure, budgetary process, post-budget fiscal management and efforts to make the budget more transparent and citizen-friendly. The states which figured lower in the ranking were Meghalaya, Manipur and Punjab.

P V Bharathi
P V Bharathi
P V Bharathi - The former executive director of Canara Bank, P V Bharathi assumed charge as Chief Executive Officer (CEO) of the Corporation Bank. P V Bharati became the first woman CEO of the bank.

Committee For Environment Clearance
Committee For Environment Clearance
Committee For Environment Clearance - A committee, chaired by Union Environment Minister Harsh Vardhan, has accorded wildlife clearance to the Mumbai-Ahmedabad high speed train corridor that encroaches upon a flamingo sanctuary and the Sanjay Gandhi National Park, the home to leopards, in Mumbai. The project for one of India’s first ‘bullet trains’ was inaugurated by Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe in Ahmedabad in September, 2017. It is expected to be ready by 2022.

Earth’s North Magnetic Pole Shifting
Earth’s North Magnetic Pole Shifting
Earth’s North Magnetic Pole Shifting - Earth’s north magnetic pole has been drifting so fast in the last few decades that scientists say that past estimates are no longer accurate enough for precise navigation. The magnetic north pole is wandering about 55 kilometers a year. It crossed the international date line in 2017, and is leaving the Canadian Arctic on its way to Siberia. The constant shift is a problem for compasses in smartphones and some consumer electronics. Airplanes and boats also rely on magnetic north, usually as backup navigation.

Committee on Angel Tax
Committee on Angel Tax
Committee on Angel Tax - The government decided to set up a five-member working committee to look into the angel tax issue. ‘Angel tax’ is a tax on the excess capital raised by an unlisted company through the issue of shares over and above the fair market value of those shares. This excess capital is treated as income and taxed accordingly. According to a January 16 notification, start-ups whose aggregate amount of paid-up share capital and share premium after the proposed issue of share does not exceed Rs. 10 crore are eligible for exemption from the tax.

Kerala Set up Price monitoring and Research Unit-
Price monitoring and Research Unit-
Kerala Set up Price monitoring and Research Unit- Kerala has become the first State to set up a Price Monitoring and Research Unit (PMRU) to track violation of prices of essential drugs and medical devices under the Drugs Price Control Order (DPCO). The move comes more than five years after the National Pharmaceutical Pricing Authority (NPPA) proposed such a system for the States and the Union Territories.

Kala Ghoda Festival
Kala Ghoda Festival
Kala Ghoda Festival - The Kala Ghoda festival, India’s largest multi-cultural street festival begins in Mumbai to celebrate its 20 years of art and culture through cinema, theatre, dance, literature, and sculpture.

Sopan Festival
Sopan Festival
Sopan Festival - The 6-day long music and dance festival 'Sopan 2019', to encourage young artists to take up traditional art took place in New Delhi.  It was Organised by Sahitya Kala Parishad and the New Delhi government, in partnership with New Delhi Municipal Council (NDMC).

Nayib Bukele
Nayib Bukele
Nayib Bukele - Nayib Bukele has claimed victory in the El Salvador's presidential election.