3-4 May 2019 Current Affairs

Cyclonic Storm | New Interest regime | Air staff Vice Chief | SEBI-NSE | RK Studios |

Posted on May 04, 2019 06:55 IST in Current Affairs.

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1) What is the name given to the extremely severe cyclonic storm that made landfall in eastern India on 3 May 2019 and affected the states of Odisha, Andhra Pradesh and West Bengal? – Fani (Fani is the name given to the category 4 extremely severe cyclonic storm that made landfall in Odisha in India on 3 May 2019. This name was suggested by Bangladesh. Fani is the second named storm and the first severe cyclonic storm of the 2019 North Indian Ocean cyclone season. It formed from a tropical depression that formed west of Sumatra in the Indian Ocean on 26 April 2019. Over 1.1 million people were evacuated in Odisha as precautionary measure. At least 8 persons were killed due to Fani in Odisha. Heavy rainfall was recorded in Odisha, Andhra Pradesh and West Bengal while the cyclonic storm is moving towards Bangladesh)

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2) From 1 May 2019 which bank moved into a new interest regime under which interest rate on savings accounts of some categories has been linked with repo rate? – State Bank of India (From 1 May 2019, India’s largest bank State Bank of India (SBI) moved to a new interest rate regime on large savings account deposits as well as short-term loans. The bank linked its interest rate on savings account with balance above Rs. 1 lakh and short-term loans like overdraft and cash credit facility to Reserve Bank of India's (RBI) repo rate. Thus interest will automatically change as and when RBI changes its repo rate. This will help in better transmission of RBI’s policy rates into the banking system.)

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3) Who took over as the new Vice Chief of the Air Staff (Indian Air Force – IAF) on 1 May 2019? - Air Marshal Rakesh Kumar Singh Bhadauria (Air Marshal Rakesh Kumar Singh Bhadauria took over as Vice Chief of the Air Staff on 1 May 2019, succeeding Air Marshal Anil Khosla. Bhadauria has over 4,250 hours of experience on 26 types of fighters and transport aircraft)

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4) Indian market regulator SEBI barred NSE from accessing capital markets for six months and also directed it to deposit nearly Rs. 1,000 crore in an investor fund. What is the reason for these strictures on the NSE? – Due to lapses in its algorithmic trading systems and co-location services (SEBI disclosed that NSE had failed to ensure equal and fair access to all members when they were using its algorithmic trading platform and co-location services between 2011 and 2014)

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5) Which entity purchased Mumbai’s iconic RK Studios as was announced on 3 May 2019? – Godrej Properties Limited (Godrej Properties Limited on 3 May 2019 announced that it had acquired iconic RK Studios spread around 2.2 acres in Mumbai’s Chembur area for undisclosed amount. Launched in 1948, the studio served as the headquarters of movie legend Raj Kapoor’s film production company, RK Films, and many blockbuster movies were shot on its premises, particularly in the 1970s and 80s. Godrej Properties plans to convert the 71-year old property into a residential and retail development)

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