5 January 2019 Current Affairs

Justice Dharmadhikari | FSSAI packing rules | Mutual funds | Herb Kelleher | pharma acquisition |

Posted on Jan 05, 2019 00:42 IST in Current Affairs.

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1) Retired justice Chandrashekhar Shankar Dharmadhikari, who passed away on 3 January 2019, was renowned for which landmark verdict of his? – Verdict on Human Rights during Emergency

Explanation: In his landmark ruling during the Emergency, Justice Dharmadhikari had held that apart from constitutional rights, the Right to Life is natural and a human right, and therefore, even during the Emergency, a citizen could approach the high court. Accordingly, he entertained petitions and ordered the release of those against whom there was no evidence material.

- Dharmadhikari passed away at a private hospital in Mumbai on 3 January 2019. He was 91. He was also an eminent Gandhian, freedom-fighter, legal luminary and social activist. He was appointed a judge in Bombay High Court in July 1972. He served as Acting Chief Justice here and retired in November 1989.

- Justice Dharmadhikari was a recipient of many awards, including Padma Shri and Padma Bhushan.

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2) The Indian food regulator FSSAI on 3 January 2019 notified new packaging regulations which primarily prohibit use of newspaper or recycled plastics for packing. These regulations will come into effect from which date? – 1 July 2019

Explanation: The Food Safety and Standards Authority of India (FSSAI) on 3 January 2019 notified new packaging regulations which prohibit use of newspaper or recycled plastics for packing, wrapping, storing, transporting or dispensing articles of food products.

- The new regulations will come into force from 1 July 2019.

- The new regulation defines standards for different materials used for packaging of food products. It has also prescribed overall migration and specific migration limits of contaminants for plastic packaging materials.

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3) Which mutual fund entity overtook ICICI Prudential MF to become the country’s largest asset management company (AMC) after a gap of over two years, as per the latest data ending December 2018 that was released on 3 January 2019? - HDFC Mutual Fund

Explanation: HDFC Mutual Fund has pipped ICICI Prudential MF to become the country’s largest asset management company after a gap of over two years. As of December-end, HDFC MF manages assets to the tune of Rs 3.35 lakh crore, while those of ICICI Prudential MF stood at Rs 3.08 lakh crore.

- This was disclosed in the latest data available with Association of Mutual funds in India (AMFI).

- HDFC MF was the largest asset manager since October 2011 and it held the top position till March 2016, when ICICI prudential MF had overtaken the top spot.

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4) Herb Kelleher, who died on 3 January 2019, was the co-founder of which iconic low-cost carrier? - Southwest Airlines

Explanation: Herb Kelleher, who co-founded pioneering low-cost carrier Southwest Airlines, passed away on 3 January 2019 at the age of 87.

- Kelleher set up Southwest with Rollin King, with the airline making its first flight in June 1971. Dallas-based Southwest is known for its quirky culture, closely connected with Kelleher’s maverick image, as well as its fast growth from a regional carrier into one of the biggest in the United States.

- Southwest succeeded by a strategy of offering low fares to its passengers, eliminating unnecessary services, and avoiding the typical scheduling system.

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5) New York-based pharmaceutical giant Bristol-Myers Squibb Co. is acquiring which biotech entity for $74 billion to create an oncology behemoth, as was announced on 2 January 2019? – Celgene Corp.

Explanation: New York-based pharmaceutical giant Bristol-Myers Squibb Co. on 2 January 2019 announced it would buy US biotech firm Celgene Corp. in a $74 billion cash-and-stock deal. The companies expect to close the deal in the third quarter of this year.

- In the deal, Bristol-Meyers Squibb gains Celgene’s incredibly popular Revlimid treatment for multiple myeloma.

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