Current Affairs

 India’s new e-commerce policy came into effect From February 1, 2019. A new set of policy rules had been formed for the e-commerce companies. Department for Promotion of Industry and Internal Trade (previously DIPP) gave them a 60-day window period for aligning themselves to the government’s modified foreign direct investment (FDI) rules.
Important Highlights of the new policy:
  • 1. Bars online retailers from selling products through vendors in which they have an equity interest.
  • 2. Also bars them from entering into exclusive deals with brands for selling products only on their platforms.
  • 3. All online retailers will be required to maintain a level playing field for all the vendors selling their products on the platform, and it shall not affect the sale prices of goods in any manner.
  • 4. Disallows e-commerce players to control the inventory of the vendors. Any such ownership over the inventory will convert it into inventory based model from marketplace based model, which is not entitled to FDI.
  • 5. The e-commerce retailer shall be deemed to own the inventory of a vendor if over 25% of the purchases of such a vendor are through it.
  • 6. Restricts marketplaces from influencing prices in a bid to curb deep discounting. With this, special offers like cashback, extended warranties, faster deliveries to some brands will be prohibited, with the view to provide a level playing field.
Source- The Hindu

 India captain Mithali Raj has become the first woman cricketer to play 200 ODIs,adding another achievement to her illustrious career. The 36-year-old is also the highest run-getter in ODIs with 6622 runs at an average of 51.33, including 7 hundreds. Mithali made her ODI debut way back in 1999. She has also played 10 Tests and 85 T20s.
Source: The Hindu

 Qatar defeated four-time champions Japan 3-1 in the final to win their first ever Asian Cup. Qatar forward Almoez Ali broke the record of most goals in a single Asian Cupafter netting his ninth goal with an overhead kick, breaking Ali Daei’s 1996 record. This was the first time that Japan lost in an Asian Cup final.
Source: NDTV

  Midfielder Ki Sung-yueng has announced his retirement from the South Korean national team. The midfielder though decided to retire after the 2018 FIFA World Cup in Russia yet decided to compete in the 2019 AFC Asian Cup, which held in the United Arab Emirates,under the new national team coach Paulo Bento. He made his international debut on September. 5, 2008 and ended his international career as the eighth-most capped South Korean player.
Source: The Business Standard

 Golfer Vani Kapoor has become the first Indian to grab Australian Ladies PGA Tour (LPGA) after securing 12th Rank tied with three others in the first-ever qualifying tournament at the Ballarat Golf Club in Australia. Total 81 players participated in the Qualifying tournament out of which top-20 earned the card for LPGA.
Source: India Today

 The INS Dronacharya team won the Regatta trophy in the Kochi Area Pulling Regatta 2019 of the Southern Naval Command (SNC) held in the Ernakulam Channel. Anti-Submarine Warfare (ASW) School & Diving School secured the runners up position. The Boat Pulling Regatta is one of the most prestigious and traditional naval sportingactivities conducted by the Navy. Six teams, formed from all major units of SNC based at Kochi, participated in the regatta.
Source: The Business Standard

 Ministry of External Affairs announced that Sanjiv Ranjan has been appointed as new Ambassador to the Republic of Colombia. Ranjan, who is the current Ambassador to Argentina, is expected to take up the assignment shortly. Ranjan who is a 1993 batch Indian Foreign Service officer holds a bachelors in Economics from Delhi University and an M.A. in International Relations from Jawaharlal Nehru University.
Source: MEA

  Yes bank Senior group President and head of retail and business banking, Pralay Mondalresigned from his post. He will serve his notice until 31st March 2019. Pralay Mondal joined Yes Bank in 2012. The bank recently named Ravneet Gill as its new MD and CEO. Former CEO Rana Kapoor has demitted office and Ajai Kumar will be the interim chief till Gill takes over.
Source: The Money Control

  On the recommendation of Cabinet Secretary P K Sinha, the government constituted a committee under the Central Electricity Authority (CEA) to explore prepaid payments by state electricity distribution companies to power plants. The formed committee, consist of the chairman of distribution companies of Tamil Nadu and Maharashtra, and representatives from Union power ministry and power associations to look into problems of delayed payments from distribution companies to power generators. The CEA led committee has been asked to submit its recommendations to the power ministry in one month.
Source: The Economic Times

 World Wetlands Day is celebrated every year on the 2nd of February to raise global awareness on the value of wetlands for humanity and the planet. The theme of World Wetlands Day 2019 is ‘Wetlands and Climate Change’. Wetlands play a critical role in storing carbon and reducing the impact of extreme weather events associated with climate change. They reduce flooding, replenish drinking water, filter waste, provide urban green spaces and are a source of livelihoods.
Source: WWD.org


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