Daily GK Updates - 18th May, 2020

NATIONAL UPDATES:

1. NRAI partners with DotPe to build tech platform for online payments and ordering: National Restaurants Association of India (NRAI) has partnered with DotPe (a fintech start-up) to build its own tech platform that would enable them with online payments for digital ordering, bill settlements, and contactless dining. NRAI is the apex body of the Food and Beverage Industry in India. This partnership would directly take on existing food-tech aggregators, Zomato and Swiggy. NRAI is also exploring synergies with social media platforms such as WhatsApp, Facebook, and Instagram to provide and ordering facilities and visibility for restaurant partners who could potentially be its members.

Note: President of NRAI: Riyaaz Amlani; NRAI Founded: 1982; NRAI Headquartered: Delhi

DotPe was founded by the erstwhile PayU co-founder and Managing Director: Shailaz Nag; DotPe Headquarters: Gurgaon, Haryana.

2. Severe Cyclonic Storm ‘Amphan’ Circling over central parts of South Bay of Bengal: A Severe Cyclonic Storm ‘Amphan’ (pronounced as UM-PUN) has positioned over the central parts of South Bay of Bengal and is likely to intensify further into a Very Severe Cyclonic Storm during next 12 hours. As per the information by the India Meteorological Department, on 16 May 2020, a depression over southeast Bay of Bengal (BoB) intensified into cyclonic storm ‘AMPHAN’ over the central parts of south BoB and further intensified into a severe cyclonic storm on 17 May, 2020. It is currently lies centred at about 960 km south of Odisha’s Paradip, 1110 km south-southwest of West Bengal’s Digha and 1,230 km south-southwest of Bangladesh’s Khepupara. Amphan cyclone’s name was suggested by Thailand.

3. Non-functional FASTag Vehicle to be charged double toll fee: Double toll fee will be charged on the vehicles with invalid or non-functional FASTag on the national highways. Prior to this, vehicle user without FASTag were paying twice toll fee. Also, vehicle not fitted with FASTag entering into 'FASTag lane' shall pay twice fee equivalent to the category of vehicles. The new amendment in National Highways Fee Rules is issued by the Ministry of Road Transport and Highways. FASTag employs radio frequency for making toll payment.

4. ARCI & SCTIMST jointly develops biodegradable metal implants: International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI) and Sree Chitra Tirunal Institute of Medical Sciences (SCTIMST), Thiruvananthapuram have jointly developed next-generation Iron-Manganese (Fe-Mn) based alloys for biodegradable metal implants. These Fe-Mn based alloys are suitable for biodegradable stent and orthopedic implant applications. The team is yet to achieve control in corrosion rate to employ advanced manufacturing processes to form complicated shapes.

Note: ARCI Headquarters: Hyderabad, Telangana; ARCI Chairperson: Dr Anil Kakodkar; ARCI Director: Dr G. Padmanabham.

SCTIMST Headquarters: Thiruvananthapuram, Kerala; SCTIMST President: Dr Vijay Kumar Saraswat; SCTIMST Director: Dr Asha Kishore.

5. Jayatu Jayatu Bharatam song released: 'Jayatu Jayatu Bharatam - Vasudev Kutumbakkam' song has been composed by 211 singers to increase the nations will power and evoke the spirit of self-reliance in the current pandemic. The song features Lata Mangeshkar, Asha Bhonsle, Sonu Nigam, Shankar Mahadevan, Shaan, Usha Uthup, Prasoon Joshi, etc. This historic anthem is released in 14 languages. It is dedicated as a salutation to every Indian who has stood together as a family in these difficult times.

INTERNATIONAL UPDATES:

1. Benjamin Netanyahu Secures Fifth Term as Israeli Prime Minister: Israel’s Prime Minister Benjamin Netanyahu has secured a historic fifth straight term to form his government, after a controversial power-sharing deal with rival-turned-partner Benny Gantz. On 7 May 2020, President Reuven Rivlin officially granted Netanyahu, two-week mandate to form his government, following which, Netanyahu announced the formation of his coalition government on 17 May 2020. Under the three-year coalition deal, Netanyahu will serve as Prime Minister for the coming 18 months, which would keep him in power until November 13, 2021. Till then Benny Gantz will serve as the Defence Minister of the country. After 18 months, both of them will swap their roles and Netanyahu will become Defence Minister while Gantz will be the new Prime Minister.

Note: Capital of Israel: Jerusalem; Currency of Israel: Israeli shekel.

2. Indian-origin Hinduja-Reuben Brothers Shares Second Spot in Annual UK Rich List 2020: The pair of Indian-origin siblings, Reuben and the Hinduja brothers, shares the second spot in the Britain’s annual rich list, with a fortune of 16 billion pounds each. ‘The Sunday Times Rich List 2020’ has been topped by British inventor-entrepreneur James Dyson tops with 16.2 billion pounds. Srichand and Gopichand Hinduja, the Hinduja Group of companies owner in UK, lost 6 billion pounds to slip to second position from the top slot in 2019. Mumbai-born David and Simon Reuben lost 2.66 billion pounds over the past year, but their second position in the tally remains unchanged from 2019. The Rich List estimates the 1,000 richest people in the UK, based on identifiable wealth including land, property, other assets such as art, and shares in companies. It does not include the amount contained in people’s bank accounts.

3. Book titled “Wuhan Diary: Dispatches from a Quarantined City” released in ebook format:  The book called “Wuhan Diary: Dispatches from a Quarantined City” authored by Chinese literary writer Fang Fang released in the ebook format. It is a compilation of online diary entries and social media posts that document 60 days Wuhan lockdown during COVID-19. In the following days & weeks, author’s nightly postings gave voice to the fears, frustrations, anger, and hope to millions of her fellow citizens, which reflect the psychological impact of forced isolation, the role of the internet as both community lifeline and source of misinformation, and the lives of neighbours and friends taken by the deadly virus. The book is expected to be translated into 15 languages.

4. International Museum Day: 18th May: The International Museum Day is celebrated on 18 May to raise awareness about the fact that “Museums are an important means of cultural exchange, enrichment of cultures and development of mutual understanding, cooperation and peace among peoples.” Theme of International Museum Day 2020: “Museums for Equality: Diversity and Inclusion”. It is coordinated by the International Council of Museums (ICOM). It was first observed in 1977.

Note: President of International Council Of Museums: Suay Aksoy.

5. World AIDS Vaccine Day: 18th May: World AIDS Vaccine Day, (also known as HIV Vaccine Awareness Day), is observed annually on May 18 to promote the continued urgent need for a vaccine to prevent HIV infection and AIDS. The concept of World AIDS Vaccine Day was proposed on May 18, 1997, during commencement speech at Morgan State University made by then-President Bill Clinton, which underlined the need of a vaccine to curb the spread of HIV. The first World AIDS Vaccine Day was thus observed on May 18, 1998 to commemorate the anniversary of Clinton’s speech.

OTHER UPDATES:

BANKING AND FINANCE

1. Zubair Iqbal Appointed as the New MD of J&K Bank: The Jammu & Kashmir Government has appointed senior vice president of HDFC Bank Zubair Iqbal, as the new Managing Director (MD) of Jammu and Kashmir (J&K) Bank, for a period of three years. RK Chibber, who currently holds the position of Chairman and Managing Director (CMD) of J&K Bank, will continue to serve as the Chairman of the bank for next three years. The appointments are based upon the continuous directions by the Reserve Bank of India (RBI) to separate the positions of Chairman and Managing Director for better governance.

Note: Jammu and Kashmir Bank Headquarters: Srinagar; Jammu and Kashmir Bank Limited was incorporated on 1st October 1938 and commenced its business from 4th July 1939 at in Kashmir (India).

BUSINESS AND ECONOMY

1. Investment firm Bernstein projects India’s GDP growth for FY21 at -7%: Bernstein, an investment management firm based in the United States, has projected India’s GDP growth rate for FY21 at -7.0%. This means India’s GDP will contract by 7% in FY21 as per Bernstein.

2. Goldman Sachs projects India’s GDP growth rate for FY21 at -5%: The global investment banking group, Goldman Sachs has predicted India’s GDP growth for FY21 at -5.0%. Earlier it has predicted the same at -0.4%. It means as per Goldman Sachs the GDP of India will contract by 5.0% in FY21.

DEFENCE

1. Indian Army to launch Three Years Short Service scheme: Indian Army is considering recruiting common citizens for three-year tenure under the ‘Tour of Duty (ToD) or ‘Three Years Short Service’ scheme. Under the project, 100 officers and 1,000 men will be initially tested for recruitment. ToD will be a voluntary engagement of civilians. Also, youths who will join this short service will experience tax-free 3-year period, and will be given preference in public sector jobs as well as post-graduate courses.

OBITUARIES

1. Marathi Writer Ratnakar Matkari passes away: Renowned Marathi dramatist, litterateur, theatre personality Ratnakar Matkari (81 years) passes away due to coronavirus. He was honoured with both Sangeet Natak Akademi and Sahitya Akademi. His film ‘Investment’ bagged National Award in Regional Category section. He wrote his first play titled ‘Vedi Manasa' that was broadcasted on Mumbai Akashwani. His famous works include: Arannyak based on Mahabharata, Lok Katha 78, Dubhang, Ashwamedh, Chaar Diwas Premache and Indira.