NATIONAL UPDATES:
1.
International Centre of Automotive Technology (ICAT) develops automotive
technology e-portal ‘ASPIRE’: The International Centre for Automotive
Technology (ICAT) is developing technology platform for the Indian Automotive
Industry, to build a strong and self-reliant automotive industry in line with
the vision of Make in India and Atma-Nirbhar vision of Government of India. The
e-portal named ASPIRE (Automotive Solutions Portal for Industry, Research and
Education) will act as a one stop solution, for the various stakeholders from
the Indian auto industry like automotive OEMs, Tier 1 Tier 2 & Tier 3 companies,
R&D institutions and academia (colleges & universities), to come other
on a common platform and share ideas on matters involving innovation and
adoption of global technological advancements, for ushering the industry into
future with combined efforts. The portal can be accessed through
https://aspire.icat.in. It will be launched in Phases. The Phase I of the
portal has been launched on 15 July 2020, and includes connecting the users and
experts on the portal for functionality assessment. Phase II of the portal
which is expected by August 15, 2020 will include the posting of domain
specific challenges, team formation and finalizing the milestones for the
execution of projects for the said challenges and industry problems. The final
phase of the portal is expected by 15 September, 2020, with hosting of the
Grand challenges and providing an elaborate resource database and project
monitoring and execution. The International Centre for Automotive Technology
(ICAT) headquarters: Manesar, Gurugram, Haryana.
2.
Mobile App of “PM Street Vendor’s AtmaNirbhar Nidhi” launched: The mobile
application of PM Street Vendor’s AtmaNirbhar Nidhi (PM SVANidhi) has been
launched to offer user friendly digital interface to the Lending Institutions
(LIs) as well as to their field functionaries in order to source and process
loan applications to the street vendors under the scheme. The launch of the
mobile app is a step towards boosting the use of digital technology and will
ensure maximum coverage of the scheme. The mobile app will promote paper-less
digital accessing of micro-credit facilities by the Street Vendors and will
give impetus to the implementation strategy of the PM SVANidhi scheme. The
application have various features such as vendor search in the survey data,
e-KYC of applicants, processing of applications, as well as real time
monitoring. Ministry of Housing and Urban Affairs launched the PM SVANidhi
scheme to provide affordable Working Capital loan to street vendors in order to
enable them resume their livelihoods that have been adversely affected due to
COVID-19 lockdown.
Note: Minister of State (I/C) for Housing
and Urban Affairs: Hardeep Singh Puri.
3.
Ministry of Finance releases Rs 15,187 crore as grants-in-aid to 2.63 lakh
Rural Local Bodies: Ministry
of Finance has released an amount of over 15,187 crore rupees as grants-in-aid
to 2.63 lakh Rural Local Bodies (RLBs) spread in 28 States of the country. The
amount was released upon the recommendation of the Ministry of Panchayati Raj,
Department of Drinking Water and Sanitation and Jal Shakti Ministry. This
grants-in-aid forms part of the Tied Grant as recommended by the 15th Finance
Commission for the Financial Year 2020-21. It will be used by RLBs to
facilitate taking up of various developmental work concerning supply of
drinking water, rain water harvesting, water recycling, sanitation and
maintenance of Open Defecation Free status which are national priorities.
4.
Poba Reserve Forest in Assam will be upgraded to Wildlife Sanctuary: Assam Chief
Minister, Sarbananda Sonowal has announced, Poba Reserve Forest in Dhemaji
district would be upgraded to a wildlife sanctuary. The announcement was made
during a meeting with senior officials of Lakhimpur, Dhemaji and Majuli
districts at Jonai. Poba Reserve Forest declared in 1924 with an area of 10,522
hectares is home to a large number of flora and fauna.
Note: Capital of Assam: Dispur; Governor of
Assam: Jagdish Mukhi.
INTERNATIONAL UPDATES:
1.
2nd U.S.-India Strategic Energy Partnership held: Union Minister
Dharmendra Pradhan attended the 2nd Ministerial of US-India Strategic Energy
Partnership (USISPF), which was co-chaired with US Secretary of Energy Dept,
Dan Brouillette. The meeting was held in presence of US Ambassador to India
Kenneth Juster, Ambassador of India to US TS Sandhu and delegation from US and
Indian sides.
Both sides reviewed the progress of the
U.S-India Strategic Energy Partnership and emphasized the centrality of
industry in expanding energy access and security between our economies. Energy
related trade between the countries touched $8 billion in 2019 and is expected
to increase by 20 percent in 2020. The USISPF gathering discussed how
metallurgical coal and bioethanol will become part of U.S.-India energy trade.
As India plans a cleaner and greener economy, Minister Pradhan discussed his
intention of additional cooperation with U.S. energy labs on areas such as
carbon capture, clean coal technologies, battery storage and large-scale grid
integration of renewable energy. MoU was signed on Strategic Petroleum
Reserves, storing oil and for India’s first-ever Solar Decathlon in 2021 USAID
tied-up with POSOCO to develop India’s National Open Access Registry (NOAR).
Public-private Hydrogen Task Force has also been launched.
2. India
Ranks Third In Global Manufacturing Risk Index 2020, China Tops: Cushman &
Wakefield Report: India
is the third top-most country among 48 nations, in the 2020 Global
Manufacturing Risk Index (MRI), for having the most-suitable locations for
global manufacturing in terms of cost competitiveness and operating conditions.
The annual Global Manufacturing Risk Index (MRI) report was released by the
US-based property consultant Cushman & Wakefield, to rank the most suitable
locations for global manufacturing among 48 countries in Europe, Americas, and
the Asia-Pacific. China and the United States retain the top two positions
respectively in MRI 2020, while India has moved one place higher from previous
edition of the report, to rank third in MRI 2020. Each of the country has been
assessed in four key areas: Bouncebackability, Conditions, Costs and Risks. The
MRI 2020 report also includes analysis of the impact of Covid-19 on the global
manufacturing sector and the ability of the countries to restart their manufacturing
sectors once confinement measures are relaxed and business starts to return to
normal.
3. At
273 million, India recorded world’s largest reduction in poverty from 2005-16:
Oxford-UN study: About
273 million Indians were lifted out of multidimensional poverty, over a period
of 10 years, between 2005-2006 and 2015-2016, according to a study conducted by
the Oxford Poverty and Human Development Initiative (OPHI) in collaboration
with the United Nations Development Programme. The study titled ‘Charting
pathways out of multidimensional poverty: Achieving the SDGs’ was based on a
global multidimensional poverty index (MPI) which annually measures the
complexities of poor people’s lives, individually and collectively. The report
noted that, India has recorded the largest reduction in the number of people
living in poverty, among the 75 countries studied in MPI. Four countries namely
India, Armenia, Nicaragua and North Macedonia, have reduced their MPI by half
or more in 5.5 to 10.5 years. 65 out of 75 countries significantly reduced
their multidimensional poverty levels, and of these 65, 50 also reduced the
number of people living in poverty.
4.
India in partnership with Chile & UN’s FAO Co-Hosted Event, “On the road to
the International Year of Fruits and Vegetables 2021”: India and Chile
joins the Food and Agriculture Organization (FAO) of the United Nations (UN)
and co-hosted the official launch of 2021 International Year of Fruits and
Vegetables, the side event of 2020 High-level Political forum – “On the road to
the International Year of Fruits and Vegetables 2021. Chile had championed to
declare the year 2021 as an ‘International Year of Fruits and Vegetables’ by UN
General Assembly in 2019
5.
New Android malware titled ‘BlackRock’ discovered: New Android
malware titled ‘BlackRock’ has been discovered that steals data from 337 apps
including Gmail, Amazon, Netflix, Uber, etc. It has enhanced features related
to stealing passwords and credit card details and is based on the leaked source
code of another malware strain ‘Xerxes’. It collects data through ‘Overlays’
technique. When a user interacts with legitimate app, it places a fake window
on top that asks for login before the user enters the actual app.
OTHER UPDATES:
SPORTS
1.
Lewis Hamilton wins 2020 Hungarian Grand Prix: Lewis Hamilton won
the Formula-1 Hungarian Grand Prix 2020 at Hungaroring, Mogyoród, Hungary. Max
Verstappen (Dutch-Red Bull) was second, followed by Valtteri Bottas (Mercedes-
Finland) at the third spot. Hungarian Grand Prix 2020 (Formula 1 Aramco Magyar
Nagydij) was the third race of 2020 Formula-One World Championship. The other
two Formula 1 Championship were held in Austria.
Note: Capital of Hungary: Budapest; The
currency of Hungary: Hungarian forint; President of Hungary: Janos Ader.
BANKING AND FINANCE
1.
Share of Industrial Credit in Total Bank Credit Dips to 31.5% in March: RBI
Data: According
to Reserve Bank data, the share of industrial credit in total bank credit
declined to 31.5 per cent in March 2020 as against 33.1 per cent a year ago.
The share of individuals in total bank credit has increased to 40.1 per cent in
March 2020 (37.4 per cent a year ago and 30.8 per cent five years ago), whereas
that of the private corporate sector has declined. Bank credit growth
(year-on-year) continued to decelerate across all population groups and stood
at 6.3 per cent in March 2020. However, bank branches in rural areas maintained
a double-digit growth.
2.
Income Tax Department launches tool for Banks to ascertain TDS applicability
rates on cash withdrawals: The Income Tax Department launched a new tool for the
banks and post offices that will ensure tax deduction at source (TDS) on the
cash withdrawals beyond the threshold. With the help of the tool, post offices
and banks will be able to ascertain the TDS applicability rates on the cash
withdrawals of above Rs. 20 lakh in case a person is a non- filer of the income
tax return and that of above Rs. 1 crore in case of a filer of Income-tax
return. On the cash withdrawal exceeding Rs. 20 lakhs, TDS will be deductible
at the rate of 2% and it will be deductible at the rate of 5% if the amount
exceeds 1 Crore, in case the person withdrawing is a non- filer of the income
tax return
AWARDS AND HONOURS
1.
Marianna Vardinoyannis of Greece & Guinean Morissana Kouyate wins
prestigious 2020 Nelson Mandela Prize: Marianna Vardinoyannis of Greece, and
Doctor Morissana Kouyaté of Guinea has been recognised by the United Nations
for the 2020 Nelson Mandela Prize. The winners were announced by the President
of the UN General Assembly, Tijjani Muhammad-Bande, on 17 July 2020. The
laureates will be honored during a virtual ceremony on 20 July, in light of the
COVID-19 pandemic. Vardinoyannis is a Greek philanthropist known for fighting
childhood cancer and for a world without borders in health for about 30 years.
Kouyate is Human rights activist known for his contribution towards violence
against women and girls in Africa. The Nelson Mandela Prize is awarded in every
five years to recognize those who dedicate their lives to the service of
humanity, by promoting the purposes and principles of the United Nations, while
honouring Nelson Mandela’s life, and legacy of reconciliation, political
transition, and social transformation was 1st awarded in 2015.
OBITUARIES
1.
Civil rights leader Cordy Tindell Vivian passes away: A civil rights
veteran, The Rev Cordy Tindell Vivian who worked alongside the Rev Martin
Luther King Jr, passed away. Vivian led the Southern Christian Leadership
Conference (SCLC) and became its interim president in 2012. He also helped in
organizing the Freedom Rides to integrate buses across the south and trained
waves of activists in non-violent protest. Vivian was honored by the Barack
Obama with the presidential medal of freedom in 2013. Vivian also played an
instrumental role in passing of the the Voting Rights Act when he tried to
register Black voters in Selma, Alabama, that sparked hundreds, then thousands,
to march across the Edmund G Pettus bridge.
2. Eminent Mathematician Prof. C S Seshadri Passes away: One of the eminent Indian mathematician of the post-Independence era, Professor C S Seshadri, has passed away. He was 88. He was the founder and Director-Emeritus of the Chennai Mathematical Institute, an institute for the study of mathematics in India. Prof. Seshadri is known for his work in algebraic geometry. The Seshadri constant (in algebraic geometry) is named after him. He was a recipient of country’s third highest civilian honor, Padma Bhushan in 2009. He also received Shanti Swarup Bhatnagar Award and Srinivasa Ramanujan Medal.
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