Top 5 Current Affairs: 1 November 2018

World Bank’s Ease of Doing Business 2019: India jumps 23 spots to 77th rank

The World Bank on October 31, 2018 released the Doing Business Report 2019 titled as ‘Doing Business 2019: Training for Reform’, assessing and ranking countries on the basis of ease of doing business in the year 2018.

As per the 2019 Report, India jumped 23 places on the Ease of Doing Business Index to 77th rank, up from 100th rank last year. This year, India’s Distance to Frontier score improved to 67.23 from 60.76 in the previous year. The Doing Business assesses 190 economies and covers 10 indicators which span the lifecycle of a business.

India's NextGen Shatabdi 'Train 18' rolled out by ICF

‘Train 18’, India's first engine-less speed train, was rolled out on October 29, 2018 by by Railway Board Chairman Ashwani Lohani at the Chennai’s Integral Coach Factory (ICF). Touted as the Next Generation Shatabdi Express, this is the first long-distance train without separate locomotive (engine).

The train was unveiled for three to four days trial outside the Coach Factory’s premises. After successful trials, the train will be handed over to Research Design and Standards Organisation (RDSO) for further trials.

Location tracking devices, emergency buttons mandatory for new public service vehicles: Government

The Union Ministry of Road Transport and Highways on October 25, 2018 notified that all new public service vehicles, except auto rickshaws and e-Rickshaws, registered on and after January 1, 2019 will have to be mandatorily equipped with Vehicle Location Tracking (VLT) and Emergency Buttons.

In case of older public service vehicles, registered up to December 31, 2018, the respective State Governments will notify the date by which these vehicles have to install Vehicle Location Tracking Device and Panic Buttons.

UN Chief appoints Noirin O'Sullivan as Assistant Secretary-General for Safety and Security

United Nations Secretary-General Antonio Guterres on October 31, 2018 appointed the Noirin O'Sullivan of Ireland as the Assistant Secretary-General for Safety and Security.

O’Sullivan succeeds Fadzai Gwaradzimba of Zimbabwe. She brings extensive experience in international safety and security management, strategic management and leadership. The Assistant Secretary-General for Safety and Security serves as a Deputy to the Under-Secretary-General for Safety and Security (USG/DSS).

Section 7 of the RBI Act, 1934: All you need to know

The Union Ministry of Finance on October 31, 2018 clarified that “the autonomy for the Central Bank, within the framework of the RBI Act, is an essential and accepted governance requirement”.

The clarification came in the wake of widespread rumours about government’s decision to invoke never-before-used powers by invoking Section 7 of the Reserve Bank of India (RBI) Act, 1934, allowing it to issue directions to the RBI Governor on matters of public interest such as liquidity for NBFCs, capital requirement for weak banks and lending to SMEs.