Daily GK Updates - 30th March, 2020

NATIONAL UPDATES:

1. Govt approves Insurance Scheme for Health Workers Fighting COVID-19: Government has approved Insurance Scheme for Health Workers Fighting COVID-19’ as announced under the Pradhan Mantri Garib Kalyan Package. The following conditions exist: The scheme will provide an insurance cover of Rs. 50 lakh for ninety days (90) to a total of around 22.12 lakh public healthcare providers. It will also include accidental loss of life on account of contracting COVID-19. The insurance provided under this scheme would be over and above any other insurance cover being availed of by the beneficiary.

2. Labour Ministry Notifies Amendment in EPF Scheme 1952 to allow withdrawal of non-refundable advance by EPF members amid COVID-19: The Union Ministry of Labour and Employment has issued notification to amend the Employees’ Provident Funds (EPF) Scheme 1952 to allow withdrawal of non-refundable advance by the EPF members in the event of lockdown to fight COVID-19 pandemic. For this, the amended scheme Employees Provident Fund (Amendment) scheme, 2020, has come into force from March 28, 2020. The amendment will permit withdrawal, upto the amount of basic wages and dearness allowance for three months or upto 75% of the amount standing to member’s credit in the EPF account, whichever is less, in the event of outbreak of epidemic or pandemic.

3. Dr. Harsh Vardhan launches National Teleconsultation Centre (CoNTeC): The Union Minister of Health & Family Welfare Dr. Harsh Vardhan launched the 24×7 National Teleconsultation Centre (CoNTeC) and also interacted with Nodal Officers of Medical Colleges of States and other AIIMS of the country and reviewed the COVID-19 preparedness. The project CoNTeC, an acronym for COVID-19 National Teleconsultation Centre, has been conceptualised by the Ministry of Health & Family Welfare and has been implemented by the All India Institute of Medical Sciences, New Delhi. It is a multi-modal hub through which 2-way audio-video and text communications can be undertaken across the nation through simple mobile telephony or WhatsApp, Skype and Google Duo.

Note: Minister of State in the Ministry of Health and Family Welfare: Ashwini Kumar Choubey.

4. NSTIs to be used as quarantine centres for COVID-19: Ministry of Skill Development and Entrepreneurship (MSDE) is all set to convert National Skill Training Institutes (NSTIs) into quarantine centres for COVID-19. MSDE employees has also decided to contribute at least one day salary to PM cares Fund. MSDE will also provide 1 lakh trained personnel in healthcare skills under the Skill India Mission to contain the spread, and treatment and care of infected people in the new quarantine/ isolation/ hospital facilities.

5. Indian Railways to run special parcel trains: Indian Railways will run special parcel trains for carriage of essential items and other goods in small parcel sizes during the complete lockdown in fight against COVID-19. The Railways has made railway parcel vans available for quick mass transportation across the nation for the needy E-Commerce entities. 8 parcel special trains are being run by Railways since 22nd March and more special trains are being planned on 20 routes.

6. Government exempts farming and allied activities from COVID-19 lockdown: Agriculture, farming and allied activities have been exempted from the COVID-19 lockdown to address problems being faced by the farming community. This will also ensure uninterrupted harvesting of crops. Procurement of agriculture products, Mandis operated by the APMC or Government, Farming operations in the field and custom hiring centres related to farm machinery with fertilizers, seed, etc units have been exempted from the lockdown.

INTERNATIONAL UPDATES:

1. China conducts second combustible ice extraction in South China Sea: China extracted 861,400 cubic meters of natural gas from combustible ice during 1-month trial production at a depth of 237-304 meters in the South China Sea. China has set two world records in terms of the total gas output in a month and the daily gas production of 28,700 cubic meters. The extraction was done using horizontal well drilling technique. Combustible ice is a natural gas hydrate trapped in ice crystals under high pressure and low temperatures.

2. US announces $174 mn aid to 64 countries including $2.9 mn to India: The United States announced USD 174 million financial assistance to 64 countries including USD 2.9 million to India to help them fight the Jcoronavirus pandemic. This is in addition to the USD 100 million aid announced by the US in February. The newly announced assistance is part of a larger American global response package across multiple departments and agencies, including the Centres for Disease Control and Prevention (CDC). The funding is for 64 of the most at-risk countries facing the threat of the global pandemic. The US State Department said it is providing USD 2.9 million to help the Indian government prepare laboratory systems, activate case finding and event-based surveillance, and support technical experts for response and preparedness, and more.

OTHER UPDATES:

BANKING AND FINANCE

1. Mega merger of 10 state-run banks into four lenders will come into force from April 1: The Reserve Bank of India has announced that the schemes for the merger of ten state-run banks into four banks will take effect from 1 April 2020. The banking regulator has also announced that the branches of merging banks will operate as the branch of the banks in which these have been amalgamated, from the beginning of next fiscal year 2020-21. After the merger, the total number of PSBs will be reduced to 12 from 27 PSBs, including 7 large PSBs and 5 small PSBs. Also, the anchor bank Punjab National Bank will become the country’s second largest bank with asset size of Rs 17.94 lakh crore, after SBI (over Rs 52 lakh crore). The amalgamation is the part of RBI’s consolidation plan to create bigger size stronger banks in the public sector. The following amalgamation will take place:

(1) Oriental Bank of Commerce and United Bank of India will merge with Punjab National Bank (PNB) branches

(2) Syndicate Bank will merge with Canara Bank

(3) Andhra Bank and Corporation Bank will merge into Union Bank of India

(4) Allahabad Bank will merge into Indian Bank.

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

2. SBI raises $100 million via green bonds: State Bank of India has raised USD 100 million green bonds, the first such bond by any state-owned bank in this fiscal. The bonds were priced at 3M Libor + 80 basis points. This is the third set of green bond issue by SBI, aggregating USD 700 million. The proceeds will be used to fund the non-convention energy sector. These bonds will be issued through SBI’s London branch and shall be listed on Singapore Exchange (SGX).

AWARDS AND HONOURS

1. Santanu Das, Mirza Waheed win The Hindu Prize 2019: The winners of The Hindu Prize 2019 have been announced. The winners are:

(1) The Hindu Prize 2019 (Non-Fiction category: Santanu Das For -India, Empire, and First World War Culture: Writings, Images and Songs.

(2) The Hindu Prize 2019 (Fiction category): Mirza Waheed For- Tell Her Everything

OBITUARIES

1. Air Vice Marshal (retd) Chandan Singh Rathore Passes Away: Former Indian Air Force helicopter pilot, Air Vice Marshall Chandan Singh Rathore, passed away at his home in Jodhpur at the age of 95. He is known among the most highly decorated officers in the Indian Air Force, for his contribution during the Sino-India 1962 war and the 1971 Indo-Pak war. This valorous air warrior was also behind the planning and execution of the special helicopter operations undertaken to airlift two companies of troops of the Sylhet area.

Note: Chief of the Air Staff: Air Chief Marshal Rakesh Kumar Singh Bhadauria.