Daily GK Updates - 23rd March, 2020

NATIONAL UPDATES:

1. Production Incentive Scheme for Electronics Manufacturing approved: The Union Cabinet has approved Production Incentive Scheme for Large Scale Electronics Manufacturing. The Government of India has proposed production linked incentives through Production Incentive Scheme to boost domestic manufacturing and to attract large investments in mobile phone manufacturing. Cabinet has also approved financial assistance to the Modified Electronics Manufacturing Clusters Scheme (EMC2.0) for development of world class infrastructure through Electronics Manufacturing Clusters.

2. Martyrs Day (Bhagat Singh, Sukhdev Thapar, and Shivaram Rajguru): March 23: Every year, March 23 is observed as Martyrs Day (Shaheed Diwas or Sarvodaya Day) to pay tribute on death anniversary of the freedom fighters Bhagat Singh, Sukhdev Thapar, and Shivaram Rajguru, who laid their lives for the freedom of India. It was on March 23 in 1931, in Lahore (Pakistan), that these three were hanged to death for assassinating John Saunders, a British police officer in 1928. They had mistook him for British police superintendent James Scott, who had ordered lathi charge, which eventually led to the death of Lala Lajpat Rai.

3. Punjab becomes 1st state to impose curfew amid COVID-19: The state government of Punjab has imposed a curfew across the state with no relaxations. The Punjab government has taken this decision to stop the spread of coronavirus.

Note: Chief Minister of Punjab: Captain Amarinder Singh; Governor of Punjab: VP Singh Badnore.

4. UP government announces Rs. 1,000 financial aid to 35 lakh labourers: UP government has announced that around 35 lakh labourers in the state will get Rs. 1,000 each as financial aid while free ration for one month will be provided to 1.65 crore construction workers amid the coronavirus outbreak. CM Y Adityanath directed officials to release of payment to MGNREGA workers in the state and to make food grains available to the poor in cities and villages. This payment will be sent directly to their accounts through direct bank transfers.

5. Hamid Ansari releases "My Encounters in Parliament" book: Former Vice-President 'Hamid Ansari' has launched Bhalchandra Mungekar's book "My Encounters in Parliament". The book has been written by Bhalchandra Mungekar, Indian economist, Social worker and a former Rajya Sabha member. He specialises in agricultural economics and is an expert on B. R. Ambedkar.

INTERNATIONAL UPDATES:

1. Netflix establishes $100 mn fund for film and TV workers: Netflix Inc (NFLX.O) has announced the formation of $100 million fund to help workers on film and television productions that have been impacted due to the global coronavirus outbreak. Out of $100 million fund, company will contribute $15 million to third parties and non-profit organizations that were providing emergency relief suspended crew and cast members in countries where Netflix has a large production base.

Note: Chief Executive Officer of Netflix: Reed Hastings.

2. World Meteorological Day: March 23: The World Meteorological Day is celebrated every year on 23 March to commemorate the date of the establishment of the World Meteorological Organization in 23 March 1950. The day also highlights the contribution that the National Meteorological and Hydrological Services make to the safety and well-being of society. The theme for 2020 World Meteorological Day is “Water and Climate Change”.

Note: The World Meteorological Organization (WMO) is an intergovernmental organization with its headquarters in Geneva, Switzerland. World Meteorological Organization has a membership of 191 member states and territories.

3. SAARC Disaster Management Centre launched COVID-19 website: The SAARC Disaster Management Centre has launched a website for information related to the COVID-19 pandemic in the region which is grown to 960 cases. The website shows the number of coronavirus cases in the member states while updating the numbers regularly. The website is www.covid19-sdmc.org.

4. Priyanka Chopra works jointly with WHO to spread awareness over COVID-19: Actor Priyanka Chopra works jointly with the World Health Organisation (WHO) to spread awareness over COVID-19. Priyanka urged followers to rely on authentic sources of information about coronavirus and arranged an Instagram live with top personnel of the World Health Organization (WHO) to raise awareness about the pandemic.

Note: President of the World Health Organisation: Tedros Adhanom Trending; Headquarters of WHO: Geneva, Switzerland; WHO founded: 7 April 1948.

5. 'Wonderchicken': oldest fossil of modern bird discovered: The oldest fossil of a modern bird "wonder chicken" dating from the age of dinosaurs, has been discovered. It includes a nearly complete skull hidden inside nondescript pieces of rock and dates to more than 66 million years ago. That's less than 1 million years before the asteroid impact that killed off all the large dinosaurs. The seagull-size shorebird had features of ducks and chickens as well as turkeys.

6. Cannes film festival not to take place as planned in May: The Cannes film festival (the world's biggest film festival will not take place as planned in May (12 to 23rd in France) because of the coronavirus. According to the board, in light of the pandemic, they are now looking at rescheduling it to the end of June-beginning of July. Several other film festivals, including Tribeca, SXSW and Edinburgh have already been cancelled or rescheduled. 

OTHER UPDATES:

BANKING AND FINANCE

1. RBI to conduct variable rate Repo auctions for Rs 1,00,000 crores: As a pre-emptive measure to tide over any frictional liquidity requirements on account of dislocations due to COVID-19, the RBI has decided to conduct the following fine-tuning variable rate Repo auctions for Rs 1,00,000 crores in two tranches of Rs 50000 crore on 23rd and 24th March 2020. As a special case, Standalone Primary Dealers will be allowed to participate in these auctions along with other eligible participants.

Note: RBI 25th Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

2. CRISIL Lowers India’s GDP Growth for FY’21 to 5.2% from 5.7%: Credit ratings agency CRISIL has pulled down the growth forecast for India’s GDP for the financial year 2020-21 by 50 basis points (bp) to 5.2 percent from its previous forecast of 5.7%. The slash in the growth forecast is due to the Covid-19 pandemic.

OBITUARIES

1. Veteran director M.R. Viswanthan passes away: Veteran Tamil film director Meenakshisundaram Ramasamy Viswanathan (74-years) popularly known as Visu passed away in Chennai. He was an actor, director and writer who also hosted live-debates on television. He started his career as an assistant under the legendary filmmaker K Balachander. Veteran Kollywood star Visu had acted in over 60 films and directed around 25 films, some of them considered as gems of Tamil cinema. Visu was also commissioned by the Government of Tamil Nadu to make his 1992 film, 'Neenga Nalla Irukkanum'.

2. Former Real Madrid President Lorenzo Sanz Passes Away at 76 after Contracting Coronavirus: The former Real Madrid President Lorenzo Sanz has passed away after being tested postive for the novel COVID-19 pandemic. He was 76. Sanz was in charge of the Spanish football club from 1995 to 2000, in which they won two Champions League titles and one La Liga crown among other trophies.