Current Affairs 6th July 2019

Current Affairs 6th July 2019 - Important Points

• 1st-ever India International Cooperatives Trade Fair to be organised in India at - Pragati Maidan
• SCR commissions Longest Electrified Railway Tunnel in - India 
• MoU between India and Maldives for Shipping approved by  - Union Cabinet
• Germany’s Ursula von der Leyen appointed new President of - EU Commission
• Who will now head European Central Bank ? - IMF Chief Christine Lagarde 
• Aadhaar Card to NRIs holding Indian Passport as per - Union Budget 2019

Current Affairs 6th July 2019 - Details

1st-ever India International Cooperatives Trade Fair to be organised in India at - Pragati Maidan

The 1st Ever India International Cooperatives Trade Fair will be organised at Pragati Maidan in New Delhi. It is planned from 11-13th October 2019. It is a unique move for taking farmers, artisans and other members of associations directly to international trade arena.
Important Highlights

• Trade Fair is intended at encouraging accommodating to cooperative business within India and
  overseas leading to enhanced rural and farm wealth.
• Officialdoms Involved are Steered by National Cooperative Development Corporation, the Fair is
  being directed with support of one international group Network for the Development of Agricultural Cooperatives, Three Ministries, Four State Governments and numerous top level Indian cooperative firms.
• This initiative is a part of Agriculture Export Policy-2018 which goals at double-folding agriculture
  export and assimilating Indian farmers and agriculture products with international value chains.
• India International Cooperatives Trade Fair would be a major platform for encouraging exports by
  collectives so that it direct advantage to farmers, females, artisans and people coming from SC/ST
  communities can be guaranteed.
• It also proposals a huge opportunity for industry and business houses from India and overseas to
  figure alliances, product sourcing as well as cooperate with primary producers of a wide range of
  products and service providers.

SCR commissions Longest Electrified Railway Tunnel in - India 

South Central Railway, one of the 18 zones of Indian Railways have commissioned the longest electrified tunnel in Indian Railways.
Important Features of Longest Electrified Railway Tunnel

• The anew commissioned electrified tunnel calculates 6.6 kms.
• It is located between Cherlopalli and Rapuru Railway stations in Nellore district, Andhra Pradesh. It
  will be supportive for decongesting traffic on Vijayawada-Gudur route.
• It is part of 113 kms new railway line finished recently between Obulavaripalli– Venkatachalam –
  Krishnapatnam Port. The channel building was accomplished in a record time of 43 months.
• The height of tunnel, rail level to roof, is 6.5m and least height of contact wire is kept at 5.2m.
• The electrified tunnel is an engineering prodigy which is built in a horseshoe design. It is built
  on New Australian Tunnelling Method, at a cost of Rupees 460 crore.
  This new line would ease direct and viable connectivity between South Coast and West Coast Railway.
• It will also progress freight revenue of zone.
  About South Central Railway
• It is one of 18 Indian Railways zones with its jurisdiction area spread over states of Maharashtra,
  Telangana, and roughly portions of Madhya Pradesh.
• It has Three divisions under its management, which comprise Nanded, Secunderabad,
  Hyderabad.

MoU between India and Maldives for Shipping approved by  - Union Cabinet

Union Cabinet led by PM Narendra Modi has issued ex-post facto sanction for MoU between India
and Maldives for formation of passenger and cargo services by marine, which was inked on 8th June
2019 during the visit of Indian Prime Minister to Maldives.
Important Highlights of MoU

• This Memorandum of Understanding with Maldives has been inked with a view towards binding
  potential opportunity that lies in passenger and cargo transportation by maritime between both
  nations.
• It will pave way for transport services between Maldives and Kerala by Linking Kochi with Male and
  Kulhudhuffushi in Maldives by Sea route.
• Male is Maldives’ capital and most populous city of nations. It is positioned at a distance of 708 kms
  from Kochi.
• Kulhudhuffushi is third most populous city of Maldives. It is 509 kms away.
• Present connectivity between India and Maldives involves flights to Male and sea planes to resorts,
  which is mainly an expensive option. Thus, linkage with Kochi via sea could encourage inbound
  tourism, mainly health and wellness tourism for India.
• Also, a large number of Maldivians too travel to Kerala and other South Indian cities for
  educational determinations.
• This projected ferry service would contribute in a big way in encouraging people-to-people contact
  and to boost bilateral business between both nations.

Who will now head European Central Bank ? - IMF Chief Christine Lagarde 

International Monetary Fund MD Christine Lagarde has been established as new leader of
European Central bank. Her nomination would make her 1st female to lead powerful institution of
European Central bank.
Important Highlights

• After Lagarde’s recommendation as President of European Central bank, she declared to
  temporarily surrender her responsibilities as head of International Monetary Fund. She will now
  step-down 2 years prior to end of her 2nd 5-year term as International Monetary Fund Chief.
• She would be succeeding Mario Draghi, whose term finishes on 31st October 2019.
  About Christine Lagarde
• The 63 years old French lady, was the 1st female to lead IMF when she started the job in 2011.
  In 2005 she was prearranged France’s trade minister and in 2007 as finance minister.
• She will next lead European Central Bank preparatory November 2019.
  About European Central Bank
• European Central bank was recognized on 1st June 1998 with HQ in Ostend district, Frankfurt,
  Germany.
• It is the central bank of 19 European Union nations which have accepted Euro.
• It is European Union’s one truly federal institution which is accountable for administering of Euro and Monetary policy of Eurozone. It is one of the largest monetary areas worldwide.
  Following United States Federal Reserve, European Central bank is most influential central bank
  in world.

Germany’s Ursula von der Leyen appointed new President of - EU Commission

Germany’s Ursula von der Leyen was designated by EU leaders as bloc’s next Chief Executive
that means as European Commission president. She will be substituting Jean-Claude Juncker.
About Ursula von der Leyen
The 60-years old Leyen, is the only minister who has been in Merkel’s government since German
leader took office in 2005.
She is Chancellor Angela Merkel’s defines minister and fellow conservative party member.
She was supported by Angela Merkel but there was resistance to her proposal within the German
coalition ending in her designation as a compromise.
This would be 1st time a German holds top European Union job since Walter Hallstein was leader
of Commission of European Economic Community above 50 years ago.
To direct world full of bruising trade wars, renewed geopolitical tension around Iran, and calling for
augmented transparency and representation within European Union itself.
More about European Commission
It is an institution of European Union that was initiated on 1st January 1958 with its Headquarter
It is responsible for executing decisions, proposing legislation, upholding European Union treaties
and managing day-to-day business of EU.
Role of European Union Commission President leads executive branch, sets policy agenda and
controls a cabinet of commissioners.

Aadhaar Card to NRIs holding Indian Passport as per - Union Budget 2019

Finance Minister Nirmala Sitharaman suggested to release Aadhaar card to those Non-Resident
Indians who are having Indian passports following their arrival in India. Prior to this, it was taking
above 180 days to get Aadhaar card to Non-Resident Indians. She has also declared to merge the
Non-Resident Indians investment route with FPI investment route.
Recent declaration by Finance Minister will ease Non-Resident Indians in getting KYC done
rapidly and utilise the card for advancing financial transactions within the nations. Release of quick
Aadhaar to Non-Resident Indians may permit them to utilise the card number for filing Income Tax
Returns also.
Important Points to Know

• According to the present Aadhaar laws, every inhabitant shall be approved to obtain an Aadhaar
  number by presenting his demographic and biometric data by undergoing the procedure of
  enrolment. 
• The Act defines that residency as, "An individual who has stayed in India for a time period/periods
  amounting in all to 182 days/above in the 12 months instantly preceding the date of application for
  enrolment. Specialists believe that, if you are applying for Aadhaar today, you have to go back 1 year from the date of application and measure if you have spent above 182 days in India.
• This means that it does not matter whether people are Non-Resident Indians/foreign national, if he
  has stayed in India for above 182 days, he will be entitled to apply for Aadhaar.