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National Current Affairs July 2nd Week 2019⊂catid=0

M Nageswar Rao appointed as Director general of Fire Services, Civil Defence and Home Guard:

  • The Central government appointed M Nageswar Rao, Additional Director of CBI as the Director General of Fire Services, Civil Defence and Home Guard.
  • He will continue to hold the post till superannuation in July 2020.
  • Former CBI Chief Alok Verma was also given the same post.
  • The Supreme Court held Rao guilty of Contempt of Court for transferring the investigating officer heading the probe in Muzaffarpur.
  • The government decided to remove former agency director Alok Verma and his deputy Rakesh Asthana.
  • Mr. Rao as the appointment of Rishi Kumar Shukla as the new CBI director.

 New Delhi Connaught Place is the nineth most expensive office location in the world:

  • According to the report titled, “Global Prime Office Occupancy Costs survey”The annual report is done by CBRE.
  • It is an American real estate consulting firm New Delhi’s Connaught Place (CP) is the 9th most expensive office location in the world. 
  • It has an annual rent of nearly $144 per sq ft. 6 of the world’s 10 most expensive office markets.
  • For the second consecutive year, Hong Kong central District retained the top position.
  • Mumbai’s Bandra Kurla Complex and Nariman complex moved to 27th Position and 40th Position.
  • The current annual rent of BKC is valued at 90.67 sq ft.
  • Nariman point is valued at 68.37 sq ft.
  • CBRE highlighted that six of the world`s 10 most expensive office markets are found in Asia. 
  • The London (West End) is ranked 2nd followed by Hong Kong (Kowloon) and New York (Midtown Manhattan). 
  • Beijing`s (Finance Street) is at the fifth position on the list.

RIL outpace TCS to become the most valued firm by m-cap with more than 8 Lakh Crore:

  • Reliance Industries Ltd (RIL) an IT-major, Tata Consultancy Services(TCS) to become the most valued firm by market capitalization (m-cap).
  • The current m-cap of RIL is Rs 8,11,048.27 crore .
  • TCS is Rs 7,99,802.04 crore which is 11,246.23 crores less than RIL.
  • The shares of RIL increased by 2.20 % to Rs 1,279.45 on the BSE (Bombay Stock Exchange) 
  • The Intra-day surged to 2.55 % to Rs 1,283.85.
  • The Shares of TCS came down to 2.05 % to Rs 2,131.45.
  • RIL followed by TCS, HDFC Bank (Housing Development Finance Corporation,Rs 6,50,136.04 crore), HDFC (Rs 3,85,207.96 crore) and HUL(Hindustan Unilever ,Rs 3,76,545.49 crore).

Arun Kumar is appointed as the head of Directorate General of Civil Aviation (DGCA):

  • Arun Kumar is appointed as the head of aviation regulator Directorate General of Civil Aviation (DGCA) on 9 July.
  • He is currently the additional secretary in the Ministry of Civil Aviation. 
  • His appointment was approved by the PM led-Appointments Committee of the Cabinet. Department of Personnel and Training issued the order of the appointment. 
  • He will replace B S Bhullar, DGCA Chief. Bhullar was holding the office since 2016.
  • Mr. Kumar is an IAS officer of 1989 batch of Haryana cadre. Mr.Arun was heading the DGCA as an additional charge between 31 May and 9 July 2019. 


The Directorate General of Civil Aviation (DGCA) is the regulator of the civil aviation. It is headquartered in New Delhi. It functions under the Ministry of Civil Aviation. The body investigates the aviation accidents and incidents.

Govt to launch 6th tranche of CPSE ETF on July 18; raise Rs 10,000 cr:

  • The government is planning to raise up to Rs 10,000 crore from the sixth tranche of CPSE ETF which would be launched on July 18. 
  • The CPSE Exchange Traded Fund (ETF) tracks shares of 11 Central Public Sector Enterprises (CPSEs) ONGC, NTPC, Coal India, IOC, Rural Electrification Corp, Power Finance Corp, Bharat Electronics, Oil India, NBCC India, NLC India and SJVN. 
  • The follow-on fund offer (FFO) 5 will have a base issue size of Rs 8,000 crore with an option to retain over subscription of another Rs 2,000 crore. 
  • Through the earlier five tranches of the CPSE ETF, the government has already raised Rs 38,500 crore — Rs 3,000 crore from the first tranche in March 2014, Rs 6,000 crore in January 2017, Rs 2,500 crore from the third in March 2017, Rs 17,000 crore in November 2018 and Rs 10,000 crore in March 2019. 
  • The government aims to raise a record Rs 1.05 trillion through disinvestment in 2019-20, up from Rs 85,000 crore raised last fiscal.

NHAI inks deal with NIIF for funding of highway projects:

  • National Highways Authority of India (NHAI) inked a deal with quasi-sovereign wealth fund National Investment Infrastructure Fund (NIIF) to fund large greenfield road projects, which will be executed by the highway authority in the future. 
  • The MOU with NIIF will provide innovative financial models including for the 24,000 km<5 lakh croreBharatmalaPariyojana. 
  • The road sector can contribute in a big way in achieving Prime Minister`s vision to make India a $5-trillion economy in the next five years.




National Current Affairs July 2nd Week 2019⊂catid=0

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