Daily GK Updates - 16th March, 2020

NATIONAL UPDATES:

1. GoI pledged $10 million for Covid-19 emergency fund: Government of India has pledged $10 million towards a Covid-19 emergency fund. India has also planned a rapid response team of doctors and specialists for the South Asian Association for Regional Cooperation (Saarc) nations. India suggested Integrated Disease Surveillance Portal (IDSP) that is currently being used to detect infected patients and contact tracing.

Note: SAARC founded: 8 December 1985; Headquarters of SAARC: Kathmandu, Nepal.

Members’ country of SAARC: Afghanistan, Bangladesh, Bhutan, India, the Maldives, Nepal, Pakistan and Sri Lanka.

2. UGC is setting up 10 chairs to perform researches encouraging women: The University Grants Commission (UGC) with the assistance Ministry of Women and Child Development is setting up 10 Chairs in different fields to carry out research activities to encourage women. The initiative is called ‘Establishment of Chairs in the University in the Name of Eminent Women Administrators/ Artists/ Scientists/ Social reformers'. This initiative will inspire women to pursue higher education and to achieve excellence in their various areas of work.

3. National Vaccination Day: 16 March: In India, the National Vaccination Day (also known as National Immunisation Day (IMD)) is observed on 16 March ever year. The day is being celebrated to convey the importance of vaccination to the people of the country. The prime purpose behind the celebration of National Vaccination Day is to make all people aware of arming against polio and eradicating it completely from the world. The theme of World Immunization Week 2020: ‘VaccinesWork for All’.

Note: The day was first observed on 16 March, 1995 when the first dose of an oral vaccine against polio was given in India

World Immunization Week 2020 celebrated in the last week of April (24 to 30 April).

4. ROPAX service from Mumbai to Mandwa Commenced: ROPAX service, a Water Transport Service Project has been commenced. This will help people to travel from Bhaucha Dhakka (Maharashtra) to Mandwa in about 45 minutes to 1 hour. Mansukh Mandaviya, Minister of State for Shipping visited ROPAX services and terminal. Mumbai Port Trust has developed ROPAX jetty and terminal facilities at Bhaucha Dhakka. Whereas Maharashtra Maritime Board has developed Breakwater, ROPAX jetty and terminal facilities at Mandwa.

INTERNATIONAL UPDATES:

1. South Africa declares National Disaster over corona-virus: South Africa has announced a National State of Disaster over the corona-virus crisis as the number of infected people in the country has risen to 61. This makes it the country with the second-highest number of cases in Africa after Egypt, which has reported 110 so far. National command council is to be established and social distancing measures has been announced in order to spread awareness among the citizens.

2. India ranks 12th in women member presence on companies’ board globally: The global recruitment tendering platform MyHiringClub.com and Sarkari-Naukri.info has conducted a study titled ‘Women On Board 2020’, which reveals the presence of women member on board of a company. According to the study, India ranked 12th worldwide in women member presence on board. Norway has topped the list with 40.72 percent women on board followed by Sweden with 30.84 percent and Finland 29.91 percent respectively. The study was done online amongst 7,824 listed companies across 36 countries. Overall, the women’s director on board percentage is 14.87 percent, more than double compared to the last two years. From India, 628 listed employers participated in this study, of which 55 percent have women directors, which is 14 percent higher than previous year. Around 54 percent of employees in Asia and 39 percent in India are women.

3. US Federal Reserve slashed the key interest rate to virtually Zero Percent: Due to the growing economic impact of the coronavirus, US Federal Reserves cut down the interest rate to almost zero percent to guarantee the global financial system of enough cash to continue its operation. This was the 2nd emergency rate cut with a range of 0-0.25 % as this rate was previously seen in the financial crises of 2008. The action was coordinated with the European Central Bank, Bank of England, Bank of Japan, Bank of Canada and the Swiss National Bank.

4. Google’s free coronavirus checkup website is made live for California: Google has come up with a free coronavirus checkup website. Those staying in California, US can visit the website to take an online COVID-19 (coronavirus) screener survey through Project Baseline. After checking few eligibility criteria, People will be directed to the mobile testing sites based on capacity where they will go through a nasal swab test and will be informed in next few days if they are infected with COVID-19 or not.

OTHER UPDATES:

SPORTS

1. Badminton Star Tai Tzu Ying and Viktor Axelsen Wins All England Championship: In badminton, Taiwan’s Tai Tzu-ying beat Chinese world number one Chen Yufei 21-19, 21-15 to win the women’s single title at the All England badminton Championship on March 15, 2020 in Birmingham. This is the third All England badminton Championship title for Tai Tzu-ying. The 25-year-old previously won the All England titles in 2017 and 2018. In the men’s event, Denmark’s Viktor Axelsen won his maiden All England Championship title, beating Taiwanese top seed Chou Tien-chen 21-13, 21-14.

The All England badminton Championship was the season’s first Super 1000 World Tour tournament and has also become the last event as the Badminton World Federation (BWF) has suspensed all World Tour and sanctioned tournaments owing to the COVID-19 pandemic.

BANKING AND FINANCE

1. YES Bank to resume full banking service from March 18: The government of India has notified the reconstruction scheme for Yes Bank which has been placed under moratorium by Reserve Bank of India. The moratorium will be lifted on March 18. Under the reconstruction scheme, SBI, will hold up to 49 per cent in Yes Bank. SBI has approved an investment of Rs 7,250 crore (725 crore shares at Rs 10 each). Apart from this, 4 private banks will also chip in money in Yes Bank. These are- HDFC- Rs 1,000 Crore; ICICI Bank- Rs 1,000 Crore; Axis Bank- Rs 600 Crore; Kotak Mahindra Bank- Rs 500 Crore. The bank customers can visit any of its over 1,132 branches from Thursday during banking hours. The customers will also be able to access all its digital services and platforms.

2. GST Rate on Mobile Phones to be hiked from 12% to 18% w.e.f 01 April: The 39th GST (Goods and Services Tax) Council meeting under the Chairmanship of Finance Minister Nirmala Sitharaman was held in New Delhi on 14 March 2020. These new GST rates will be applicable with effect from 1st April 2020. The Council has announced certain changes in the GST rates of the following items:

(1) Increase in GST rates on the Mobile phones from the present 12 percent to 18 percent. (2) Slash the GST rate on Maintenance, Repair and Overhaul (MRO) services of aircraft from 18 percent to 5 percent. (3) Rationalise the GST rates on handmade and machine-made matchsticks to 12 percent. Earlier this rate was 5 percent for Hand-made matches and 18 percent for machine-made ones.

BUSINESS AND ECONOMY

1. Infosys, Qualcomm partner for smart cities solutions: Infosys has joined the Qualcomm Smart Cities Accelerator Program to offer end-to-end solutions for smart stadiums, smart venues and smart event management. This program is designed to connect cities, municipalities, govt. agencies and enterprises with Qualcomm Technologies ecosystem to help deliver greater efficiencies. These Smart Space solutions build upon Infosys' proprietary SCALE (Sustainable-Connected-Affordable-Livable-Experiential) framework for smart spaces.