India Current Affairs - 2019

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India’s forex reserves at new life-time high of $430.57 bn

According to latest Reserve Bank of India (RBI) data, India’s foreign exchange (forex) reserves surged to new life-time high of US $430.572 billion in week to August 9, 2019. It was on account of rise in foreign currency assets, the major component of the overall reserves. In the previous reporting week ended on August 2, 2019 forex reserves had declined by US $697.2 million to US $428.952 billion.

Various components of Forex reserves (in reporting week)

Foreign currency assets (FCA): It increased by US $15.2 million to US $398.739 billion.

It is expressed in dollar terms and includes effect of depreciation/appreciation of non-US currency units (US Dollar) like euro, pound and yen held in reserves.

Gold reserves: It surged by US $1.591 billion to US $26.754 billion.

Special drawing rights (SDR) with the International Monetary Fund (IMF): Increased US $6.7 million to US $1.441 billion.

Reserve position with IMF: It rose by US $7 million to US $3.636 billion.

India win historic gold at 2019 Junior Track World Cycling Championship

Indian men’s cyclist team created history by clinching the Team Sprint gold medal at World Junior Track Cycling Championships in Frankfurt, Germany. The team comprised of Esow Alben, Ronaldo Singh, James Singh and Rojit Singh. This is India’s 1st-ever gold in a global cycling competition.

Key Highlights

This is India’s historic 1st gold win at a world cycling event, senior or junior.

In first round of men’s team sprint, India clocked fastest time at 44.764 seconds, beating China’s time of 46.248s.

To claim the top honours, Indian cyclist team defeated Australia in final, clocking 44.681 seconds in gold medal race. Great Britain took bronze home.

Currently, the Indian men’s junior team is ranked No. 2, behind Malaysia

In individual Men’s Keirin Event at World Junior Track Cycling Championships in Frankfurt, Esow Alben of India won bronze medal by finishing behind Greece’s Konstantinos Livanos who won gold and Australia’s Sam Gallagher who won silver.

Esow Alben: At present, Esow Alben, the cycling star from Andaman and Nicobar Islands is top-ranked junior cyclist in world in sprint and keirin events. In 2018, he had become 1st Indian to win a medal at the Junior Track Cycling World Championships when he won silver in men’s Keirin event.