15-18 January 2019 Current Affairs

India’s youngest chess GM | New SC Judges | ICC CEO | EXIM Bank | Retail Broking leader |

Posted on Jan 18, 2019 08:07 IST in Current Affairs.

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1) On 15 January 2019 who became India’s youngest chess Grandmaster (GM)? - D. Gukesh

Explanation: 12-year old D. Gukesh on 15 January 2019 became overall the 59 and the youngest chess Grandmaster (GM) from India as he defeated Dinesh Sharma in the ninth round of the Delhi International Open.

- He thus broke the record of R. Praggnanandhaa set in June 2018. For the record, Gukesh reached the landmark at the age of 12 years, seven months and 17 days. Praggnanandhaa did it in 12 years, 10 months and 13 days. Gukesh is now World’s second youngest GM.

- It is worth mentioning that the record for world’s youngest Grandmaster stands in name of Sergey Karjakin (Russia) at 12 years and seven months. This record was created in 2002.

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2) The Union government on 16 January 2019 cleared the names of which two new judges for Supreme Court who were subsequently appointed judges in the apex court? - Justice Dinesh Maheshwari and Justice Sanjiv Khanna

Explanation: The elevation of the two justices, Justice Dinesh Maheshwari and Justice Sanjiv Khanna, was cleared by the government in separate orders on 16 January 2019.

- With the swearing-in of justices Maheshwari and Khanna on 18 January 2019, the strength of SC Judges has now gone up to 28. Their tenure as judges of the SC would be till 14 May 2023 and 13 May 2025 respectively. The total posts of judges in the apex court stands at 31.

- Justice Sanjiv Khanna, who was a judge in the Delhi High Court would be in line to become the Chief Justice of India after Justice DY Chandrachud in November 2024.

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3) On 16 January 2019 who was appointed as the International Cricket Council's (ICC’s) new Chief Executive Officer (CEO) replacing David Richardson? - Manu Sawhney

Explanation: Manu Sawhney, the India-born former managing director of ESPN Star Sports, has been appointed as the International Cricket Council's (ICC) new chief executive officer. He replaces David Richardson (South Africa), whose contract expires after the World Cup in the UK later this year.

- Sawhney was the unanimous choice following a global recruitment process led by ICC chairman Shashank Manohar and the nominations committee.

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4) The Union Cabinet on 16 January 2019 announced how much capital infusion in state-owned Exim Bank to expand its business? – Rs. 6,000 crore

Explanation: The Union Cabinet approved a capital infusion of Rs. 6,000 crore in state-owned Export Import Bank of India (EXIM) to expand its business on 16 January 2019. The Union Cabinet, chaired by Prime Minister Narendra Modi, also approved an increase in the bank’s authorised capital from Rs. 10,000 crore to Rs. 20,000 crore.

- The infusion of capital into Exim Bank would enable it to augment capital adequacy and support Indian exports with enhanced ability. Exim Bank is the principal export credit agency in India and the infusion will give an impetus to new initiatives.

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5) ICICI Securities Ltd lost its position as the leader in retail broking segment to which entity for third quarter of 2018-19 as was reported in media reports on 15 January 2019? – Zerodha

Explanation: As per media reports of 15 January 2019, Broking firm ICICI Securities Ltd.’s active customer base grow at a modest 10% in the third quarter of 2018-19 while rival firm Zerodha’s active customer base surge to 847,000 as of December, marginally higher than ICICI Securities’ base of 845,000.

- Thus ICICI Securities Ltd. lost the crown of being the largest retail broking firm to Zerodha.

- The silver lining for ICICI Securities was that average daily trading volume continued to remain robust, providing some visibility on earnings from its broking operations.

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