Current Affairs – June, 2019

Latest Current Affairs June, 2019 with Current Affairs, news summary on current events of National and International importance of June, 2019 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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RBI Deputy Governor Viral Acharya quits before his term ends

Viral Acharya Deputy Governor of Reserve Bank of India (RBI) has resigned from his position 6 months before the end of his term citing reason as unavoidable personal circumstances.

Acharya, who joined RBI on 23 January 2017 for a three-year term, was youngest deputy governor of RBI post economic liberalisation. He may now return to New York University Stern School of Business (NYU Stern) in August 2020 instead of February 2020.

Key Highlights

RBI Deputy Governor Viral Acharya resignation is second high profile resignation at Reserve Bank of India (RBI). In December 2018 Urjit Patel former RBI governor, also resigned about nine months before end of his schedule term citing personal reasons.

Acharya’s resignation is also significant as he resigned shortly before Bimal Jalan committee is to submit its report on whether RBI reserves could be transferred to Centre government or not.

Mr. Acharya who was in charge of the monetary policy department, created a controversy in October 2018 by strongly alluding to encroachment on autonomy of apex bank of country by government. One of the main tension points he highlighted was treatment of RBI reserves.

RBI is left with only 3 Deputy Governors- N.S. Vishwanathan, B.P. Kanungo and M.K. Jain.

Conflict: Dr. Acharya has been differing with RBI Governor Shaktikanta Das in last two Monetary Policy Committee (MPC) meetings on both growth and inflation. In latest monetary policy meeting also, RBI Governor Das and Deputy Governor Acharya differed strongly on state of fiscal deficit and how to account for that. Acharya, who was in charge of monetary policy department while ending his term warned of wrath of markets if autonomy of a central bank was compromised.

About Reserve Bank of India

RBI is India’s central banking institution, which controls issuance and supply of Indian rupee.

The RBI began its operations on 1 April 1935 in accordance with Reserve Bank of India Act, 1934. RBI was nationalised on 1 January 1949, after India gained independence on 15 August 1947.

Until Monetary Policy Committee was established in 2016, it also controlled monetary policy in India.

Vaishno Devi Shrine to have its own Disaster Response Force by 2020

Mata Vaishno Devi shrine located in Jammu and Kashmir (J&K) will get a dedicated in-house disaster response force by September 2020. For this purpose NDRF and Shri Mata Vaishno Devi Shrine Board had signed a Memorandum of Understanding (MoU) in early 2019.

Key Highlights

MoU: The Memorandum of Understanding (MoU) signed  between NDRF and shrine board in early 2019 was keeping in mind hilly terrain of region and emphasised the need for imparting Advanced Disaster Management Training to shrine board staff in batches so as to keep them in state of readiness for effectively and promptly responding to any disaster situation.

The 1st respondents in case of any eventuality will be staffs of Shri Mata Vaishno Devi Shrine Board. The training of board staffs has already begun at headquarters of 7th battalion of National Disaster Response Force (NDRF) in Punjab.

Staff Selection: The Shrine board employees who are fit and have about 15-20 years of service remaining will undergo this training capsule. It includes staff from security, medical and assistance wings, sweepers, receptionists, salesmen and catering providers etc.

Training Undertaken:

NDRF is not charging any fee for training of shrine’s board staff that is being trained for ensuring a quick response in case of any fire incident, earthquake, landslides or any other emergency situation.

The 6 week training of 1st batch of 25 staff that started on 18 May 2019 is almost heading for completion. Now, the shrine board plans to train 180 employees by September 2020 to prepare a dedicated disaster response force for shrine.

The board also plans to set up an Emergency Operation Centre as part of its disaster preparedness.

Tasks Undertaken: For further augmenting disaster management preparedness an NDRF team would conduct a comprehensive audit of disaster management stores that are set up by Shrine board at various locations on pilgrimage track and in Bhawan area so that, wherever required, these are further replenished and strengthened by adding latest gadgets and equipment.

Mock Drill: In March 2019 an NDRF team conducted a mock exercise on yatra track near Bhawan area in order to analyze and evaluate level of preparedness to most effectively and promptly respond to any emergency situation.

About Mata Vaishno Devi

It is shrine is a dediacted to Vaishno Devi also known as Mata Rani, Trikuta and Vaishnavi, who is a manifestation of Hindu Goddess Mata Adi Shakti (or Mahalakshmi/Matrika Goddess).

The religious pilgrimage shrine lies atop Trikuta hills, in Reasi district of Jammu region.

In 2019, it attracts 86 lakh pilgrims from across the world which was highest in past 5 years.

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