current affair for june 08 2019

1. The government launched Swachh Survekshan 2020 League

Shri Hardeep S Puri, Hon’ble Minister of State (I/C) for Housing & Urban Affairs will be launching Swachh Survekshan 2020 League at the Ministry of Housing and Urban Affairs (MoHUA), New Delhi on 6 June 2019. Swachh Survekshan League 2020 will be a quarterly cleanliness assessment of cities and towns in India and will be integrated with Swachh Survekshan 2020, the 5th edition of the annual cleanliness survey of urban India to be conducted between January - February 2020 by MoHUA under the aegis of Swachh Bharat Mission- Urban (SBM-U).

2. RBI Issued Fresh Prudential Framework For Resolution Of Stressed Assets

Moody's Investors Service Monday said the Reserve Bank's new prudential framework for stressed asset resolution is 'credit positive', but flagged the slower-than-expected progress of resolution under Insolvency and Bankruptcy Code as a key hurdle. "The RBI's revised framework for the resolution of stressed assets is credit positive because it brings back the focus on the need for the timely resolution of such assets, and the buildup of loan loss provisioning against those assets," Moody's Investors Service VP Financial Institutions Group Alka Anbarasu said.

3. Bajaj Finserv &Motherhood hospitals ink partnership to provide a Lifecare finance facility

In a bid to expand its Life Care Finance segment, Bajaj Finserv, through it's lending arm Bajaj Finance Ltd, today announced its partnership with motherhood hospitals, a comprehensive network of women & children hospital. The partnership will enable patients at all motherhood hospitals to avail Life Care Finance (LCF) from Bajaj Finserv that converts their medical and wellness bills into an interest-free EMI finance loan.

4. Fincare SFB, Kookmin Bank added in the second schedule of RBI Act

Fincare Small Finance Bank and Kookmin Bank have been included in the second schedule of the Reserve Bank of India Act, according to RBI notifications. Fincare Small Finance Bank was included in the Second Schedule to the Reserve Bank of India Act vide notification dated March 28, according to an RBI notification on Thursday. The central bank in a separate notification said that Kookmin Bank has been included in the Second Schedule vide notification dated April 4. Fincare Small Finance Bank in a statement said that as a Scheduled Commercial Bank, it can now broad-base its lines of funding and liquidity facilities.

5. YES Bank conducts e-auction for forest produce

Asit Oberoi, the global head-transaction banking group, YES Bank said that this was done in April under the A.R.T approach along with their fintech partner, Sparsh Technologies. YES BankNSE -3.51 % has conducted the first e-auction of forest produce in Dhanora Mahasangh in Maharashtra, something it will now aim to replicate in other states. Asit Oberoi, the global head-transaction banking group, YES Bank said that this was done in April under the A.R.T approach along with their fintech partner, Sparsh Technologies.

6. Business Confidence Index drops 9.1% in Q4 of 2018-19: NCAER

The business confidence of India Inc dropped in the fourth quarter (Q4) of the financial year 2018-19 (FY19), showed a survey by the National Council of Applied Economic Research (NCAER). The Business Confidence Index (BCI) plunged 9.1 percent to reach 115.4 points during the period on a quarter-on-quarter (q-o-q) basis. On a year-on-year basis, the index was down 12.2 percent, showed the survey by the think tank.

7. India’s GDP growth may expand to 7.2 percent in 2019-20: Goldman Sachs

It can be recalled that the growth had dipped to a nearly five year low of 5.8 percent for the March quarter at 5.8 percent, dragging down FY19 growth to 6.8 percent. American brokerage Goldman Sachs on Friday pegged the Indian GDP growth to accelerate to 7.2 percent in 2019-20 on lower oil prices, political stability, and removal of infrastructure bottlenecks. Risks to the estimate, which is higher than the RBI's projection for a 7 percent growth, are on the "downside" because of the issues in the non-bank lenders, it said.

8. Sunder Pichai, Adena Friedman to receive 2019 Global Leadership award

The award would be conferred upon Sundar Pichai, and Friedman during the next week's 'India Ideas Summit'. With companies like Google and Nasdaq at the forefront, bilateral trade in goods and services has grown by nearly 150%. Google's India-born CEO Sundar Pichai and Nasdaq president Adena Friedman have been chosen for the prestigious Global Leadership Awards 2019 by business advocacy group USIBC in recognition of the two companies' contribution as the leading technology-driven platforms.

9. China to host 2023 Asian Cup confirmed by Asian Football Confederation (AFC).

China will stage the 2023 Asian Cup after all the other countries in the running dropped their bids, the Asian Football Confederation confirmed on Tuesday, a possible dry-run for hosting a World Cup. It will mark the second time China has hosted the quadrennial continental tournament, after the 2004 edition when it finished runners-up to Japan. “It's great for China, a great honour for China to be hosts of the 2023 Asian Cup. We are ready and confident of staging a successful tournament,” Chinese FIFA Council member Du Zhaocai said at the AFC Extraordinary Congress in Paris.

10. World oceans day observed on June 8, 2019

Every year World Ocean Day is celebrated on 8th June since 2009, This is an opportunity to raise global awareness regarding the challenges faced by the international community. Let us know in detail about the current theme, history, and importance of World Ocean Day.  

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