Daily GK Updates - 29th April, 2020

NATIONAL UPDATES:

1. ADB approves $1.5 billion loan to India to help fund its fight against Covid-19: The Asian Development Bank (ADB) has approved USD 1.5 billion (about Rs 11,400 crore) loan to India on April 28, 2020, to help fund its fight against coronavirus pandemic. The loan amount will be used in fulfilling India’s immediate priorities. These priorities comprises of disease containment and prevention, social protection for the poor as well as economically vulnerable sections of the society, especially women and disadvantaged groups.

Note: President of Asian Development Bank: Masatsugu Asakawa; ADB was established in 1966.

2. Automobile giant Maruti Suzuki develops low cost ventilators: Automobile giant Maruti Suzuki has developed low-cost ventilators for helping the government in the fight against COVID-19. The production is going on in Gautam Buddha Nagar of Uttar Pradesh, where the company is supporting a start-up Agva Healthcare to scale-up ventilator production.

Note: Chairman of Maruti Suzuki: R. C. Bhargava; Managing Director & CEO of Maruti Suzuki: Kenichi Ayukawa; Headquarters of Maruti Suzuki: New Delhi.

3. Andhra Pradesh CM launches ‘Jagananna Vidya Deevena’ Scheme : The Andhra Pradesh Chief Minister, Y. S.Jaganmohan Reddy has unveiled the ‘Jagananna Vidya Deevena’ Scheme on 28 April 2020. The scheme has been launched to give 100% free reimbursement to those students pursuing courses post-matric like ITI to Ph.D and who hails from below poverty line family. To be eligible to avail the service under the scheme, the income of the family must be less than the Rs 2.5 lakh per annum. The Chief Minister has released over Rs. 4,000 Crores of funds for the scheme, along with Rs. 1880 crore towards pending amount left by the earlier government. Under Jagananna Vidya Deevena, fee reimbursement will be credited directly to mothers’ accounts instead of college accounts in the academic year 2020-21. This amount will be credited in four installments every year. Amount to be disbursed under the scheme will as under:

ITI Students: Rs.10, 000

Polytechnic students: Rs.15, 000

Degree students: Rs.20, 000

Note: Governor of Andhra Pradesh: Biswa Bhusan Harichandan.

4. CSIR-CMERI Develops Low-cost Robotic Device ‘HCARD’ to assist frontline COVID-19 healthcare warriors: The Durgapur-based CSIR lab, Central Mechanical Engineering Research Institute (CMERI) has developed a low-cost robotic device named HCARD, which can be used for a host of activities like collecting samples of people having symptoms of coronavirus, as well as treating COVID-19 patients. HCARD stands for Hospital Care Assistive Robotic Device. The device is equipped with various state-of-the-art technologies and works both in automatic as well as manual modes of navigation. It will be able to transport food items, medicines, testing equipment, files, personal protective equipment in a comprehensive sterilised environment. HCARD will help frontline healthcare workers in dealing with COVID-19 patients in delivering services while maintaining mandatory physical distancing. The cost of the device is less than Rs 5 lakh and the weight is not more than 80 kg, making it easy to use and affordable for healthcare facilities.

5. JNCASR scientists develops “Berberine” based Alzheimer inhibitor:  Scientists from Jawaharlal Nehru Centre For Advanced Scientific Research (JNCASR) has developed “Berberine” based Alzheimer inhibitor. To make a natural product based Alzheimer’s inhibitor, scientists from JNCASR selected isoquinoline natural product Berberine which is found in India and China. The research work of scientists from JNCASR has been published in the scientific journal iSceince.

6. AP launches ‘Covid Pharma’ mobile application: Medical and Health Department of Andhra Pradesh launched 'Covid Pharma' to keep a track of people purchasing medicines over the counter (OTC) for cough, cold and fever from medical stores across the state. Using the App, the respective pharmacies will have to take down details of persons, including their mobile number, making OTC purchase of medicines for such common ailments and report to the government.

INTERNATIONAL UPDATES:

1. G20 launches ‘Access to COVID-19 Tools (ACT) Accelerator’: G20 has launched 'Access to COVID-19 Tools (ACT) Accelerator', an international initiative to accelerate access to health tools needed to fight COVID-19. The new initiative “Access to COVID-19 Tools Accelerator” will act as global platform for action to improve connections as well as to leverage interdependencies for collective partnership, mobilizing, problem-solving, and guiding investments for new COVID-19 diagnostics, therapeutics as well as vaccines. It also aims to provide equitable access of all the tools to all the members.

Note: The G20 is the premier forum for international economic cooperation of 19 countries and EU; G20 Presidency 2020: Saudi Arabia; G20 Headquarter: Cancún, Mexico.

2. 11th Session of Petersberg Climate Dialogue held: The 11th session of Petersberg Climate Dialogue was held through video conferencing witnessing India along with 30 countries deliberating over ways and means to tackle COVID-19. Union Minister of Environment, Forest and Climate change, Prakash Javadekar representing India in the first virtual Petersberg Climate Dialogue. The session focused on enhancing collective resilience and catalyzing climate action while supporting vulnerable. It has been hosted by Germany since 2010 to provide a forum for informal high-level political discussions, focusing on international climate negotiations and climate action. It was co-chaired by the United Kingdom.

Note: Minister of State in the Ministry of Environment, Forest and Climate Change: Babul Supriyo.

3. North Pole's largest-ever ozone hole finally closes: Scientists who have been observing the ozone hole at Copernicus’ Atmospheric Monitoring Service (CAMS) announced that the largest Ozone Hole recorded over North Pole has now ‘Healed Itself’ and Closed due to polar vertex which is a low pressure area and a wide expanse of swirling cold air of polar regions. Due to unusual climatic conditions, ozone hole in the Arctic region increased spanning an area of 620,000 square miles. The hole in Ozone was first identified by scientists in March 2020. Ozone layer is a portion of Earth's upper atmosphere that shields the planet from UV rays.

4. International Dance Day: 29 April: The International Dance Day is organised globally on 29 April to celebrate the value and importance of the art form dance. The day was created in 1982, by the Dance Committee of the International Theatre Institute (ITI), the main partner for the performing arts of UNESCO. The day 29 April has been chosen as it marks the birth anniversary of Jean-Georges Noverre (1727–1810), the creator of modern ballet.

Note: International Theatre Institute Founded: 1948; Headquarters of International Theatre Institute: Paris, France.

5. Merger of two unequal mass black holes detected at LIGO observatory: The gravitational wave observatories at LIGO scientific collaboration have detected a merger of two unequal-mass black holes. The event has been named as GW190412. This is the first such observation involving two black holes of unequal masses coalescing. LIGO is a large-scale physics experiment and observatory to detect cosmic gravitational waves and develop astronomical tools with headquarter in US. This once again confirms Einstein’s theory of general relativity.

OTHER UPDATES:

SPORTS

1. India loses hosting rights of 2021 men’s World Boxing Championships to Serbia: On 28 April 2020, the world boxing body, International Boxing Association (AIBA) has cancelled India’s hosting rights for the 2021 men’s World Boxing Championship, after the national federation failed to pay the host fee. Serbia’s capital Belgrade has now been given the hosting rights. The agreement to host the championship was signed in 2017 between AIBA and Boxing Federation of India. Due to the cancellation of the agreement, India would have to pay a cancellation penalty of USD 500,000. It was for the first time that the elite competition was going to be held in India.

Note: AIBA Founded: 1946; AIBA Headquarters: Lausanne, Switzerland; AIBA President: Dr Mohamed Moustahsane.

BANKING AND FINANCE

1. Axis Bank to buy 29% in Max Life Insurance, total stake to rise to 30%: Axis Bank has announced that it will acquire an additional 29% stake (for ₹1,600 crore) in Max Life Insurance. With this, the total stake of Axis Bank in Max Life Insurance will become 30%. The remaining 70% stake will be with Max Financial Services. After the completion of these transactions, Max Life would become a 70: 30 joint venture between Max Financial Services and Axis Bank.

Note: Headquarters of Axis Bank: Mumbai, Maharashtra; MD and CEO of Axis Bank: Amitabh Chaudhry.

Max Life Insurance Company Headquarters: New Delhi; MD & CEO of Max Life Insurance Company: Prashant Tripathy.

BUSINESS AND ECONOMY

1. CRISIL cuts India’s GDP growth forecast for FY21 to 1.8%: Rating agency CRISIL has cut the GDP growth rate forecast for India for 2020-21 (FY21) to 1.8% from the previous prediction of 3.5%. CRISIL has projected a total losses of Rs 10 lakh crore or Rs 7,000 per person due to the impact of lockdowns to control COVID-19 pandemic.

2. Shiv Das Meena Takes Charge as new CMD of HUDCO: Shiv Das Meena, additional secretary in the Ministry of Housing and Urban Affairs, has been appointed as the new chairman and managing director (CMD) of Housing and Urban Development Corporation (HUDCO) for a period of six months with effect from 21 April 2020. Meena is a 1989 batch IAS officer of Tamil Nadu cadre with over 30 years of experience in public service.

Note: Headquarters of HUDCO: New Delhi; HUDCO Established: 1970.

OBITUARIES

1. Veteran Bollywood actor Irrfan Khan passes away: One of the finest actors of Bollywood, Irrfan Khan passed away at the Kokilaben Dhirubhai Ambani Hospital in Mumbai after suffering from colon infection on 29 April 2020. He was 54. The actor was diagnosed with a rare form of cancer (neuroendocrine) in 2018, for which he was undergoing treatment. During his over 30 years film career, Irrfan had worked across Indian, Hollywood and British films. He was last seen in comedy drama Angrezi Medium that hit screens before the nationwide lockdown in mid-March. In 2011, Khan was awarded the Padma Shri, India’s fourth highest civilian honour for his contribution to the field of arts.

2. Grammy-nominated Singer Troy Sneed passes away: Grammy-nominated gospel singer, Troy Sneed (52 years) passed away due to complications from the coronavirus. Sneed started his music career in 1999 when he released his maiden album 'Call Jesus' in collaboration with Malaco Records. He has several hit songs within the gospel realm to his credit including Work It Out and My Heart Says Yes. For his work on the Youth For Christ’s 1999 album ‘Higher’, singer Troy Sneed was nominated for Grammy award.

3. Former Liverpool footballer Michael Robinson Passes Away: Former Liverpool striker Michael Robinson, from Republic of Ireland has passed away at the age of 61. He was diagnosed with skin cancer in 2018. Playing for the football club Liverpool, Robinson won a league, League Cup and European Cup treble in the 1983-84 season. Robinson settled in Spain after his retirement in 1989 and became a respected television commentator, pundit and presenter.