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Most Important Current Affairs of the Day- 14.11.2019

Most Important Current Affairs of the Day- 14.11.2019

1. BigBasket set to acquire DailyNinja in $20-25 million deal: Report

  • Bengaluru-based grocery delivery platform BigBasket is reportedly set to acquire Sequoia-backed rival DailyNinja in a $20-25 million cash-and-stock deal.
  • According to three Entrackr sources, the company is in advanced talks with the Alibaba-backed e-grocer for an acquisition.
  • Note: Last month, Doodhwala had shut down operations and transferred its subscribers base to FreshToHome.
  • Sources outlined that the deal would be in the range of $20 to 25 million. About 20% of the total deal size would be in cash.
  • Bigbasket would use DailyNinja’s core-competency in subscription commerce to ramp up BBDaily.
    BBDaily is a Milkbasket kind of service that delivers daily essentials such as milk, groceries, fruits & vegetables every morning to the subscriber’s doorstep.

    About BigBasket:

    • BigBasket is an online grocery store in India.
    • Founded: October 2011
    • Headquarters location: Bengaluru
    • Founders: Hari Menon, VS Sudhakar, Vipul Parekh, Abhinay Choudhari, VS Ramesh
    • Subsidiaries: Bloomskart Retail Private Limited, etc.
    Important Possible questions based on above News:
    1. Who is set to acquire Sequoia-backed rival DailyNinja in a $20-25 million cash-and-stock deal? BigBasket
    2. According to source, last month who has shut down its operations and transferred its subscribers base to FreshToHome? Doodhwala

2. KKR India chief Sanjay Nayar quits Coffee Day Enterprises board

  • KKR India chief executive Sanjay Nayar has resigned from the board of Coffee Day Enterprises Ltd, the operator of the Café Coffee Day chain, and its subsidiary Coffee Day Global Ltd.
  • Nayar had joined the coffee chain’s board after KKR’s investment in the company in 2010.
  • The private equity firm owns a 6.07% stake in Coffee Day.
  • Note: Separately, Coffee Day Enterprises had appointed IDFC Securities Ltd to explore divestment opportunities for the group as well as to refinance its existing debt

    About CCD:

    • Café Coffee Day is an Indian café chain. It is a subsidiary of Coffee Day Enterprises Limited.
    • Founder: V. G. Siddhartha
    • Founded: 1993
    • Headquarters: Bengaluru
    • Parent organization: Coffee Day Enterprises
    Important Possible questions based on above News:
    1. Name the KKR India chief who has resigned from the board of Coffee Day Enterprises Ltd? Sanjay Nayar
    2. Name the founder of CCD who has started its business in 1993 in Bengaluru? V.G.Siddhartha

3. Food ATM opens up in Odisha to provide free eatables to poor

  • A food ATM, named Trupti, was opened up in Odisha’s Sambalpur with an objective to provide food free of cost to the underprivileged people.
  • Sambalpur Municipal Corporation along with a local social organisation launched the food ATM, a 700-litre refrigerator, near the district headquarters hospital in Sambalpur.
  • The objective of the facility is to facilitate a source through which the poor and underprivileged can get food free of cost.
  • The ATM would enable people to donate leftover food from social gatherings and households. A refrigerator of 700 litre capacity has been installed inside the kiosk.
  • People have been asked to donate vegetarian food only for it.
  • The food ATM will remain open from 7 am to 10 pm everyday.
  • This is the second food ATM in the district after Kuchinda.
  • The food ATM at Kuchinda, managed by the NAC, was inaugurated on November 6.

    About Odisha:

    • Odisha (formerly Orissa), an eastern Indian state on the Bay of Bengal, is known for its tribal cultures and its many ancient Hindu temples.
    • Capital: Bhubaneswar
    • Governor: Ganeshi Lal
    • Chief minister: Naveen Patnaik
    Important Possible questions based on above News:
    1. What is the name of the second Food ATM which is being opened up in Odisha’s Sambalpur? Trupti
    2. Where did Odisha’s first Food ATM situated? Kuchinda

4. India’s retail inflation breaches RBI target for first time in 15 months

  • India’s retail inflation in October rose to 4.62%, breaching the Reserve Bank of India’s (RBI) medium-term target of 4% for the first time in 15 months.
  • However, core inflation, which reflects demand in the economy, fell sharply due to weak economic conditions.
  • Consumer Price Index inflation rose to 4.62 percent in October compared to 3.99 percent in September, according to data released by the MOSPI.
  • Food and beverage inflation rate accelerated to 6.93%, driven by a 26.1% surge in prices of vegetablesPulses and products gained 11.7%, while fuel and light prices fell 2.02%.

    What is inflation? 

    • The sustained increase in the general price level of goods and services in an economy over a period of time.
    What is Core Inflation? 
    • Core inflation is the change in the costs of goods and services but does not include those from the food and energy sectors.

5. Prakash Javadekar takes charge as Union heavy industries minister

  • Prakash Javadekar took charge as the Minister of Heavy Industries and Public Enterprises, two days after Shiv Sena leader Arvind Sawant resigned from the Union Cabinet.
  • Javadekar also holds information & broadcasting, and environment, forest and climate change portfolios.

    About Ministry of Heavy Industries and Public Enterprises:

    • As of November 2019, the Honorable Minister is Prakash Javadekar, and the Honorable Minister of State is Arjun Ram Meghwal.
    Important Possible questions based on above News:
    1. Who took charge as the Minister of Heavy Industries and Public Enterprises? Prakash Javadekar

6. Justice Muhammad Raffiq takes oath as Chief Justice of Meghalaya HC

  • Justice Muhammad Raffiq took oath as Chief Justice of Meghalaya High Court. Meghalaya Governor Tathagata Roy administered the oath of office and secrecy at Raj Bhavan in Shillong.
  • Mr. Raffiq succeeds Ajay Kumar Mittal who is now the Chief Justice of Madhya Pradesh High Court. He will be the eighth Chief Justice of the Meghalaya High Court.
  • Justice Rafiq started his law practice in 1984. He practised exclusively in Rajasthan High Court in almost all branches of law.
  • He has been recognized as an expert on the Indian Constitution, service, land acquisition, tax and company law cases. In 2008, he was appointed as Justice at the Rajasthan High Court. He also served as acting Chief Justice of the Rajasthan High Court twice.

    About Meghalaya:

    • Capital: Shillong
    • Governor: Tathagata Roy
    • Chief minister: Conrad Sangma
    Important Possible questions based on above News:
    1. Who took oath as Chief Justice of Meghalaya High Court? Muhammad Raffiq
    2. Recently Justice Muhammad Raffiq took oath as Chief Justice of which High Court? Meghalaya High Court

7. Unilever appoints Nils Andersen as chairman, replacing Dekkers

  • Unilever named non-executive director Nils Andersen as its new chairman, to utilise his deep experience across consumer goods and logistics industries to help the Dove soap maker navigate a dip in emerging market sales growth and fix its foods business.
  • Andersen will replace Marijn Dekkers, who is standing down after more than three years as chairman, to focus on his responsibilities as founder and chairman of investment and advisory firm Novalis LifeSciences, the company said in a statement.
  • Dekkers will remain on the board as non-executive director.
  • Andersen, who was appointed non-executive director of Unilever in 2015, will support chief executive Alan Jope at a time when India and China, two of the company’s biggest markets, are showing signs of slowdown.

    About Unilever:

    • Unilever is a British-Dutch transnational consumer goods company co-headquartered in London, United Kingdom, and Rotterdam, Netherlands. Its products include food and beverages (about 40 percent of its revenue), cleaning agents, beauty products, and personal care products. It is Europe’s seventh most valuable company
    • Chairman: Nils Andersen
    • CEO: Alan Jope
    • CFO: Graeme Pitkethly
    Important Possible questions based on above News:
    1. Who has been appointed as the new chairman of Unilever? Nils Andersen
    2. Who is the current CEO of Unilever? Alan Jope

8. Nita Ambani becomes first Indian trustee to join board of Metropolitan Museum of Art

  • Educationist, philanthropist, and businesswoman Nita Ambani has been named an Honorary Trustee of The Metropolitan Museum of Art. It was announced by Daniel Brodsky, the Museum’s Chairman. Nita’s election took place at the November 12 meeting of the Board.
  • She is the first Indian to be so honoured.
  • Nita Ambani is the Founder and Chairperson of the Reliance Foundation, a philanthropic organisation that has supported The Met since 2016, beginning with the exhibition Nasreen Mohamedi. That presentation was the first museum retrospective of the artist’s work in the United States and was also one of The Met Breuer’s inaugural exhibitions.
  • In 2017, the Reliance Foundation committed to support exhibitions that explore and celebrate the arts of India. The first exhibition to benefit from this gift was Modernism on the Ganges: Raghubir Singh Photographs (October 11, 2017–January 2, 2018), followed by Phenomenal Nature: Mrinalini Mukherjee (June 4–September 29, 2019), which marked the first comprehensive display of Mukherjee’s work in the United States.
    Important Possible questions based on above News:
    1. Recently who became the first Indian trustee in the 150-year history of the Metropolitan Museum of Art in New York? Nita Ambani
    2. Reliance Foundation chief Nita Ambani has recently been elected trustee of the Metropolitan Museum of Art which is located in? New York

9. ITDC appoints Kamala Vardhana Rao as its new Chairman and Managing Director

  • India Tourism Development Corporation (ITDC) has appointed G Kamala Vardhana Rao as the new Chairman and Managing Director.
  • Prior to this, Rao, an IAS officer 1990 batch from Kerala Cadre, was the Principal Secretary, Kerala government. He has also served as the Secretary of Kerala Tourism in 2014-15.
  • In a span of close to three decades, Rao has served multiple positions including Chairman of Indian Tobacco Board, Director of Fisheries Department, Director, Department of Tourism and Culture, Andhra Pradesh government.

    About India Tourism Development Corporation (ITDC):

    • The India Tourism Development Corporation (ITDC) is a hospitality, retail and education company owned by Government of India, under Ministry of Tourism. Established in 1966, it owns over 17 properties under the Ashok Group of Hotels brand, across India.
    Important Possible questions based on above News:
    1. Who has been appointed as the new Chairman and Managing Director of India Tourism Development Corporation (ITDC)? Kamala Vardhana Rao

10. UP govt launches e-Ganna app, web portal

  • Uttar Pradesh government has launched a dedicated web portal and a mobile application, e-Ganna App, for sugarcane farmers of the state. Cane supply slip will now be issued to the farmers by sugar mills online.
  • Launching the facilities at a function in Lucknow, Chief Minister Yogi Adityanath said his government is relentlessly pursuing the goal set by Prime Minister Narendra Modi to double farmers’ income.
  • The Chief Minister said during the last three years of his government, a record amount has been paid to farmers by sugar mills. He said his government will ensure that sugarcane farming becomes a profitable venture for farmers.
  • The web portal and e-Ganna App will help in eradicating cane mafia and middleman and strengthen cane development societies.
  • The portal and the App will ensure transparency in the process of getting slips, and facilitate sugarcane supply by farmers to mills and check irregularities.
    Important Possible questions based on above News:
    1. Which state government has recently launched e-Ganna app for the convenience of sugarcane farmers? Uttar Pradesh
    2. What is the name of the recently launched mobile app for the convenience of sugarcane farmers by the Uttar Pradesh government? e-Ganna

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