Daily Current Affairs, 17th August 2019

1) High-level committee constituted to review Defence Procurement Procedure

•Union government has constituted a 12-member high-level committee to revise and align the procedure of Defence procurement with the aim of strengthening the ‘Make in India’ initiative. The panel will be headed by the Director-General (Acquisitions).

•The panel has been tasked to review the Defence Procurement Procedure (DPP) 2006 and the Defence Procurement Manual (DPM) 2009. The committee will revise and align the procedures with the aim of ensuring seamless flow from asset acquisition to life cycle support.

2) India contributes $1 million to UN fund

•India has contributed $1 million to the UN Special Purpose Trust Fund for the Resident Coordinator System. The Special Purpose Trust Fund (SPTF) is a specific fund housed within the UN Secretariat.

•The fund was established to receive, consolidate, manage and account for all contributions and financial transactions of the new Resident Coordinator system in a transparent and effective way.

3) Tawlhlohpuan, Mizo Puanchei & Tirur betel vine gets GI tag

•Tawlhlohpuan & Mizo Puanchei from Mizoram, and Tirur betel vine from Kerala has received the Geographical Indication tag. GI is an indication used on products that have a specific geographical origin and possess qualities or a reputation that are due to that origin. The Geographical Indication comes under the Department for Promotion of Industry and Internal Trade.

Some features of the products bestowed with the GI tag:

•Tawlhlohpuan: It is a medium to heavy, compactly woven, good quality fabric from Mizoram. It is known for warp yarns, warping, weaving & intricate designs that are made by hand.

•Mizo Puanchei: It is a colourful Mizo shawl/textile, from Mizoram and is considered as the most colourful among the Mizo textiles.

•Tirur betel vine: This product from Kerala is valued both for its mild stimulant action and medicinal properties. It has many industrial and cultural usages and is considered as a remedy for bad breath and digestive disorders.

4) “Aadi Mahotsav” begins in Leh-Ladakh

•National Tribal Festival “Aadi Mahotsav” has begun in Leh-Ladakh. The theme of the festival is “A celebration of the spirit of Tribal Craft, Culture and Commerce”.

•The 9 day Adi Mahotsav will showcase traditional art and handicrafts and cultural heritage of the country. Tribal Affairs Ministry and Tribal Cooperative Marketing Development Federation of India (TRIFED) has jointly organized the festival.

5) India’s forex reserves reaches life-time high of $430.57 bn

•India’s forex reserves has reached the highest ever valuation of $430.57 bn. As per the latest RBI data, India’s foreign exchange reserves increased by $1.620 billion in the week to 9 August due to rise in foreign currency assets. Foreign currency assets expressed in dollar terms includes the effect of appreciation/depreciation of non-US units like the euro, pound and yen held in the reserves.

6) Padma Shri awardee Damodar Ganesh Bapat passes away

•Damodar Ganesh Bapat from Chhattisgarh, a noted social worker and Padma Shri award winner, passed away. He was known for his social work in tribal areas in Chhattisgarh. He dedicated his life to the treatment and service of leprosy patients.

•For his service to the society, he was awarded the fourth highest civilian award of India i.e. Padma Shri award in 2018.