Daily GK Updates - 13th May, 2020

NATIONAL UPDATES:

1. Prime Minister announces Economic Package of Rs 20 Lakh Crore: In continuation to PM Modi’s announcement of Rs 20 lakh crore boost to the economy, the Finance Minister of India, Smt. Nirmala Sitharaman has made certain announcements for relief and credit support related to businesses, especially MSMEs to support the Indian Economy’s fight against COVID-19. These are the announcements made on May 13, 2020. Some of them are mentioned below:

The Economic Package is called Aatma Nirbhar Bharat Abhiyaan. The announced measures focused on Getting back to work i.e., enabling employees and employers, businesses, especially Micro Small and Medium Enterprises, to get back to production and workers back to gainful employment.

(1) Rs 3 lakh crore Emergency Working Capital Facility for Businesses, including MSMEs- This will be available to units with upto Rs 25 crore outstanding and turnover of up to Rs 100 crore whose accounts are standard.

(2) Rs 20,000 crore Subordinate Debt for Stressed MSMEs- Provision made for Rs. 20,000 cr subordinate debt for two lakh MSMEs which are NPA or are stressed. Government will support them with Rs. 4,000 Cr. to Credit Guarantee Trust for Micro and Small enterprises (CGTMSE).

(3) Rs 50,000 crores equity infusion through MSME Fund of Funds- Govt will set up a Fund of Funds with a corpus of Rs 10,000 crore that will provide equity funding support for MSMEs. The Fund of Funds shall be operated through a Mother and a few Daughter funds.

(4) New definition of MSME- Definition of MSME will be revised by raising the Investment limit.  Additional criteria of turnover also being introduced.

(5) Employees Provident Fund Support for business and organised workers- The scheme introduced as part of PMGKP under which Government of India contributes 12% of salary each on behalf of both employer and employee to EPF will be extended by another 3 months for salary months of June, July and August 2020. Total benefits accrued are about Rs 2500 crores to 72.22 lakh employees.

(6) EPF Contribution to be reduced for Employers and Employees for 3 months- Statutory PF contribution of both employer and employee reduced to 10% each from existing 12% each for all establishments covered by EPFO for next 3 months. This will provide liquidity of about Rs.2250 Crore per month.

(7) Rs 30,000 crores Special Liquidity Scheme for NBFC/HFC/MFIs- Government will launch Rs 30,000 crore Special Liquidity Scheme, liquidity being provided by RBI. This will be 100 percent guaranteed by the Government of India.

(8) Tax related measures- The due date of all Income Tax Returns for Assessment Year 2020-21 will be extended to 30 November, 2020.

(9) The TDS rates for all non-salaried payment to residents, and tax collected at source rate will be reduced by 25 percent of the specified rates for the remaining period of FY 20-21.This will provided liquidity to the tune of Rs 50,000 Crore.

(10) The date for making payment without additional amount under the “Vivad Se Vishwas” scheme will be extended to 31 December, 2020.

2. Jharkhand’s Sohrai Khovar painting & Telangana’s Telia Rumal gets GI-Tag: The Sohrai Khovar painting of Jharkhand and Telia Rumal of Telangana have received the Geographical Indication (GI) tag from the Geographical Indications Registry. For the Sohrai Khovar painting of Jharkhand, application of GI-tag was made by Sohrai Kala Mahila Vikas Sahyog Samiti Limited. For the Telia Rumal of Telangana, application of GI-tag was made by Consortium of Puttapaka Handloom Cluster-IHDS.

The Sohrai Khovar painting is a traditional and ritualistic mural art being practised by local tribal women during local harvest and marriage seasons using local, naturally available soils of different colours in the area of Hazaribagh district of Jharkhand.

Telia Rumal cloth involves complex handmade work with cotton loom which can be only created by using the traditional handloom process and and not by any other mechanical means. The teila rumal exhibits a variety of designs and motifs in three particular colours namely red, black and white.

Note: Chief Minister of Jharkhand: Hemant Soren; Governor: Shrimati Droupadi Murmu.

Chief Minister of Telangana: K Chandrasekhar Rao; Governor: Tamilisai Soundararajan.

3. Gujarat mandates digital payment for home delivery in Ahmedabad: The Gujarat government has mandated the digital payment for all home delivery services in Ahmedabad. This step has been taken by the state government in order to prevent the spread of COVID-19 through currency notes. Therefore, the payment of all the home delivery services in the city would be cashless i.e. via digital mode of payment. Hence the Cash On delivery (COD) option will not be available to the customers. Apart from this, the state government has also issued a protocol involving the use of hand gloves, sanitation cap as well as sanitizer and Aarogya Setu app for the delivery person.

Note: Chief Minister of Gujarat: Vijaybhai R. Rupani; Governor: Acharya Dev Vrat.

4. Manoj Ahuja Appointed as new Chairperson of CBSE: Manoj Ahuja, a 1990 batch IAS officer of Odisha cadre, has been appointed as the new chairperson of the Central Board of Secondary Examination (CBSE). Before this, he was serving as special director at Lal Bahadur Shastri National Academy of Administration. He replaces Anita Karwal who has been appointed as the secretary at the Department of School Education and Literacy.

Note: Headquarters of CBSE: New Delhi; CBSE was established on 3 November 1962.

5. Indian Railways mandate Aarogya Setu mobile application: The Indian Railways has now made installation of Government’s Aarogya Setu mobile application mandatory for passengers before commencing their journey. The step is applicable to all the passengers who are either availing the special train or passenger train services. Passengers, who do not have the app installed on their mobile phones, might be asked to do so after their arrival at the station.

Note: Union Minister of Railways: Piyush Goyal; Minister of State of Railways: Angadi Suresh Channabasappa.

6. CFTRI develops Spirulina groundnut Chikki to boost immunity: The Mysuru-based Central Food Technological Research Institute, CFTRI has developed Spirulina groundnut Chikki that can provide micro-nutrients and boost immunity of people during this time of pandemic. Spirulina is a biomass of cyanobacteria (blue-green algae) that can be consumed by humans and animals. The Income Tax Department of Karnataka and Goa region has distributed 500 kilograms of CFTRI Chikkies to migrant labourers in Bengaluru and surrounding areas.

INTERNATIONAL UPDATES:

1. China Launches Two Satellites to Test Space-based Communications Technology: China successfully launched two satellites into orbit on 12 May 2020, to test the space-based Internet of Things (IoT) communications technology. The satellites, Xingyun-2 01 and 02, were launched by a Kuaizhou-1A (KZ-1A) carrier rocket from the Jiuquan Satellite Launch Center in northwest China. The satellites will be useful to conduct tests on technologies including space-based IoT communications, inter-satellite laser communications and a low-cost commercial satellite platform.

2. External Affairs Minister held virtual joint commission with Denmark: External Affairs Minister Dr S Jaishankar held his first virtual joint commission with Denmark Foreign Minister Jeppe Kofod and reviewed bilateral ties. The two leaders discussed COVID-19 and close cooperation in green and sustainable economic recovery. The joint meet strengthened focus on clean technology, urbanization, renewable energy, green solutions, and food processing.

3. ASSOCHAM organises Indo-Bangladesh “Virtual Conference”: Associated Chambers of Commerce and Industry of India (ASSOCHAM) has organised the Indo-Bangladesh “Virtual Conference”. Union DoNER Minister of State (I/C) Dr Jitendra Singh addressed the virtual conference. The conference featured the participation of Minister of Commerce Bangladesh Tipu Munshi, Chief Minister of Meghalaya Conrad Sangma and Riva Ganguli Das High commissioner to Bangladesh.

Note: Prime Minister of Bangladesh: Sheikh Hasina; Capital: Dhaka; Currency: Taka.

4. India up at 74th place on WEF’s global energy transition index: India has moved up two positions to rank 74th on a global ‘Energy Transition Index’ with improvements on all key parameters of economic growth, energy security and environmental sustainability. Sweden has topped the Energy Transition Index (ETI) for the third consecutive year and is followed by Switzerland and Finland in the top three. Surprisingly, France (ranked 8th) and the UK (7th) are the only G20 countries in the top ten. The WEF said the “emerging centres of demand” such as India (74th) and China (78th) have made consistent efforts to improve the enabling environment, which refers to political commitments, consumer engagement and investment, innovation and infrastructure, among others.

Note: The founder and Chairman of WEF: Klaus Schwab; WEF Headquarters: Geneva, Switzerland.

OTHER UPDATES:

SPORTS

1. FIFA postpones U-17 Women’s World Cup India to 2021:  FIFA U-17 Women’s World Cup India 2020 has been postponed to 2021 due to coronavirus pandemic. FIFA-Confederations Covid-19 Working Group has taken the decision to hold the U-17 Women’s World Cup in India from February 17-March 7, 2021. Japan and North Korea have qualified from the two available slots for Asian teams, with India qualifying for the main tournament as hosts. The tournament was originally scheduled to be held from November 2 to 21 this year.

Note: President of FIFA: Gianni Infantino; Founded: 21 May 1904; Headquarters: Zurich, Switzerland.

2. China Wins FIDE Chess.com Online Nations Cup: China won the inaugural $180,000 FIDE Chess.com Online Nations Cup following a 2-2 draw against USA. China was adjudged the winner on the basis of its topping the points table in the round-robin stage. China won $48,000, USA $36,000 and others received $24,000 each. The Superfinal concluded 6 days online competitive chess at the highest level between 6 international teams full of top grandmasters. Co-organized by FIDE and Chess.com, the event had a peak of over a million concurrent viewers across all languages and broadcast partners.

3. French cyclist Remy Di Gregorio banned by UCI for 4 years: French cyclist Remy Di Gregorio has been banned for 4 years by the International Cycling Union (UCI) for using a form of banned blood-boosting hormone EPO (Erythropoietin). Remy Di Gregorio had tested positive for the hormone during a long-distance trip from Paris to Nice during a doping test on March 8, 2018. His suspension starts from the date of the test so he is going to be suspended until 7 March 2022.

Note: International Cycling Union (UCI) Headquarters: Aigle, Switzerland; International Cycling Union (UCI) President: David Lappartient.

BANKING AND FINANCE

1. BRICS’ New Development Bank provides USD 1 billion loan to India to fight COVID-19: The New Development Bank of the BRICS countries has fully disbursed USD one billion emergency assistance loan to India to help it contain the spread of COVID-19 and reduce human, social and economic losses caused by the coronavirus pandemic. The ‘Emergency Assistance Program Loan’ to India was approved by the NDB Board of Directors on April 30, and it is aimed at supporting the Indian government to contain the spread of COVID-19 and reduce human, social and economic losses caused by the coronavirus outbreak.

AWARDS AND HONOURS

1. Sania Mirza becomes 1st Indian to win Fed Cup Heart Award: Indian tennis player Sania Mirza becomes 1st Indian to win Fed Cup Heart Award 2020 for Asia/Oceania zone. She beats Indonesia’s 16-year-old Priska Madelyn Nugroho for this category & received the award for her successful return to the court after becoming a mother. She is one of 4 winners chosen by a public vote, alongside Anastasija Sevastova of Latvia (wins Qualifiers award), Estonian Anett Kontaveit (Europe/Africa I zone) and Mexico’s Fernanda Contreras Gomez (Americas I zone).

Note: Fed cup is the world’s largest annual international team competition in women’s sport with 108 nations entered in 2019 was launched in 1963. Fed Cup Heart Award is an International Tennis Federation (ITF) initiative established in 2009 to recognise players representing their countries in the Fed Cup by BNP Paribas.

International Tennis FederationHeadquarters: London, United Kingdom; International Tennis Federation President: David Haggerty.

2. Indian Journalist Siddharth Varadarajan Conferred with Deutsche Welle Freedom of Speech Award: Indian journalist Siddharth Varadarajan is among the 17 recipients of the 2020 Freedom of Speech Award presented by German public news outlet Deutsche Welle on the occasion of the World Press Freedom Day. The award was presented to journalists worldwide who have disappeared or been arrested or threatened because of their reporting on the COVID-19 pandemic. 17 journalists from 14 countries have been given the award, on behalf of all media professionals around the world, for showing “outstanding commitment to human rights and freedom of expression in the media”.

Note: Deutsche Welle Freedom of Speech Award: Since 2015, German public news outlet Deutsche Welle has presented the Freedom of Speech Award annually to a person or initiative that has shown outstanding commitment to human rights and freedom of expression in the media.

OBITUARIES

1. US actor and comedian Jerry Stiller passes away: US comedian Jerry Stiller (92 years) passes away. He was renowned for his recurring role as George Costanza’s father on TV’s Seinfeld for which he was also nominated for Emmy Awards in 1997. His other popular roles include that of Arthur Spooner in TV sitcom “The King of Queens”. He received joint star on the Hollywood Walk of Fame along with his wife Meara in year 2007. He also wrote an autobiography, Married to Laughter, about his 50-plus years marriage to soul mate and comedic cohort Meara, who died in 2015

2. TV actor Shafique Ansari passes away: Actor Shafique Ansari, best-known for his appearance in TV series ‘Crime Patrol’, has passed away of cancer. He was 52. Ansari was battling with thoracic cancer for two years and some months ago, he was also diagnosed with a lung infection. Shafique Ansari was a member of The Cine & TV Artistes’ Association (CINTAA) since 2008. He began his career as an assistant director and writer and was screenwriter for Amitabh Bachchan and Hema Malini starrer Baghban (2003). Some of his other films as a writer are Dost (1974); Izzatdaar (1990); Pratiggya (1975); Dil Ka Heera(1979).

3. Former national TT champion Manmeet Singh Walia passes away: Former national table tennis champion Manmeet Singh Walia, who was suffering from rare ALS (amyotrophic lateral sclerosis) disease for nearly two years, has died in Montreal, Canada. He was 58. One of the finest and consistent performers in the ’80s, Manmeet became the national champion in 1989 when he beat S Sriram in the men’s singles final in Hyderabad. He had represented the country at multiple international events after making his debut at the Asian Championships in 1980 along with eight-time national champion Kamlesh Mehta.