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Important Current Affairs of 10th May

NATIONAL:

BharatPe launches UPI Bahi Khata for merchants for seamless networking and business expansion.

• India’s first Fintech (Financial technology) start-up enabling payments via interoperable UPI(Unified Payments Interface) QR (Quick Response) codes, BharatPe notified its venture into merchant services by launching a new app UPI Bahi Khata that allows merchants to keep a track of  their cash/credit (Udhar) sales customer wise, to request the accounts receivable from customers through SMS (Short Message Service) payment links or through WhatsApp and to record accounts that are payable to suppliers.

• The newly launched app also helps the merchants to network and collaborate with other BharatQR merchants near them to expand their businesses.

The major features on BharatPe app for merchants are: UPI Khata (Ledger), Managing Supplier Bills, Cashback, Settlements and Refer and Earn.

Water storage level of 91 major reservoirs of the country goes down by one percent.

• The water storage available in 91 major reservoirs of the country for the week ending on May 09, 2019 was 38.734 BCM, which is 24% of total storage capacity of these reservoirs. This percentage was at 25 for the week ending on May 02, 2019. The level of water storage in the week ending on May 09, 2019 was 116% of the storage of corresponding period of last year and 105% of storage of average of last ten years.

• The total storage capacity of these 91 reservoirs is 161.993 BCM which is about 63% of the total storage capacity of 257.812 BCM which is estimated to have been created in the country. 37 Reservoirs out of these 91 have hydropower benefit with installed capacity of more than 60 MW.

AGREEMENTS AND MOUS:

WTO Ministerial Meeting of Developing Countries in New Delhi.

• A WTO Ministerial meeting of developing countries is being hosted by India in New Delhi on 13-14 May 2019.  Sixteen developing countries, Six Least Developed Countries (LDC)(Argentina, Bangladesh, Barbados, Benin, Brazil, Central African Republic (CAR), Chad, China, Egypt, Guatemala, Guyana, Indonesia, Jamaica, Kazakhstan, Malawi, Malaysia, Nigeria, Oman, Saudi Arabia, South Africa, Turkey, Uganda)and DG, WTO are participating in the meeting.

• Ministers from Bangladesh, CAR and South Africa have confirmed their participation. Vice Ministers, senior officials and ambassadors willbe representing other countries.

India and China sign protocol for Export of Indian Chilli Meal.

• Commerce Secretary, Anup Wadhawan and Vice Minister, General Administration of Customs of China (GACC), Li Guo, held a meeting in New Delhi today to discuss trade related issues of pending Indian request for clearance of agricultural products.

• Both sides appreciated each other’s concerns and agreed to resolve market access issues expeditiously in order to achieve the vision of the leaders of both India and China by promoting a more balanced trade.

• At the end of the meeting a protocol was signed for export of chilli meal from India to China.

20th Conference of Regional Heads of Customs Administration (RHCA) of Asia Pacific Region of the World Customs Organisation (WCO) concludes in Kochi.

• The Central Board of Indirect Taxes and Customs (CBIC) had organised a Conference of the Regional Heads of Customs Administration of Asia Pacific Region of the World Customs Organisation (WCO) in Kochi from 08th to 10th May, 2019. India hosted this Conference in its capacity as Vice-Chair of the Asia Pacific Region of WCO which it assumed on 1st July, 2018 for a two-year period.

• The Conference took stock of the progress made in carrying forward the programmes and initiatives of WCO to promote, facilitate and secure cross-border trade in the Region and the capacity building and technical assistance required by Member Administrations to achieve these goals.

WTO Ministerial Meeting of Developing Countries in New Delhi.

• A WTO Ministerial meeting of developing countries is being hosted by India in New Delhi on 13-14 May 2019.  Sixteen developing countries, Six Least Developed Countries (LDC)(Argentina, Bangladesh, Barbados, Benin, Brazil, Central African Republic (CAR), Chad, China, Egypt, Guatemala, Guyana, Indonesia, Jamaica, Kazakhstan, Malawi, Malaysia, Nigeria, Oman, Saudi Arabia, South Africa, Turkey, Uganda)and DG, WTO are participating in the meeting.

• Ministers from Bangladesh, CAR and South Africa have confirmed their participation. Vice Ministers, senior officials and ambassadors willbe representing other countries.

BANKS AND ECONOMICS:

Flipkart gives ₹700cr ESOPs to senior, mid-level staff: Report.

• Bengaluru-based e-commerce platform Flipkart has reportedly issued around $100 million (₹700 crore) worth of Employee Stock Ownership Plan (ESOP) to its senior and middle-level staff. Employees have been allotted these new shares at a price of $125-$130 per unit, the report claimed. The Walmart-owned company is also considering an Initial Public Offering (IPO) for 2021, the report further added.

Uber raises $8.1 billion in IPO, valued at $82 billion.

• Ride-hailing giant Uber priced its IPO shares at $45 apiece to raise $8.1 billion at a valuation of over $82 billion. Shares were priced close to the bottom of its targeted $44-50 range. Uber, which was earlier said to be seeking a valuation of $120 billion, has reportedly taken a conservative stance over its rival Lyft's post-IPO share falls.

APPOINTMENTS AND RESIGNATIONS:

Change of Command at Air Force Station Faridabad.

• Group Captain Chandra Shekhar Bhatt took over the command of Air Force Station Faridabad from Group Captain Kaushik Das. The change of command took place in a Ceremonial parade at Station Parade ground.

• Group Captain Bhatt was commissioned in the Logistics branch of IAF in 1990. During his career, the officer has held various appointments in Operational bases and Depots. For his distinguished service, the officer has been commended by Air Officer Commanding-in-Chief (AOC-in-C) and Chief of the Air Staff (CAS).

Ajoy Mehta appointed as Chief Secretary of Maharashtra.

• Brihanmumbai Municipal Corporation (BMC) commissioner Ajoy Mehta has been appointed as the new Chief Secretary of Maharashtra. He will succeed UPS Madan who has been named as the special advisor to Maharashtra Chief Minister Devendra Fadnavis. A 1984-batch IAS officer, Mehta holds.