Daily GK Updates - 24th July, 2020

NATIONAL UPDATES:

 

1. Kakrapar Atomic Power Project (KAPP-3) Gujarat attains its first criticality: The Unit 3 of the Kakrapar Atomic Power Project (KAPP-3) in Gujarat achieved its ‘first criticality’ at 9.36 am on 22 July 2020. KAPP-3 is India’s first 700 MWe (megawatt electric) Pressurised Heavy Water Reactor (PHWR) as well as biggest indigenously developed variant of the Pressurised Heavy Water Reactor (PHWR). Significance of attaining criticality: A nuclear reactor attains criticality when every nuclear fission event releases a sufficient number of neutrons to sustain an ongoing series of reactions or a self-sustaining chain reaction. These reactions then produces heat, which is used to generate steam that then spins a turbine to create electricity

 

2. Actor Sonu Sood Launches ‘Pravasi Rojgar’ app to help migrants find job opportunities: In order to help the migrant workers find right job opportunities in various sectors across the country, a new ‘Pravasi Rojgar’ app has been launched. This online platform is the brainchild of Bollywood actor Sonu Sood, who launched the free online platform on 23 July 2020 in Mumbai. The initiative will be supported by community outreach in the villages to find the right employment opportunities for migrant workers in different parts of the country. The app features job opportunities from over 500 reputed companies related to construction, apparel, healthcare, engineering, BPOs, security, automobile, e-commerce and logistics sectors. Support centres, with a 24-hour helpline, have been set up in seven cities including Delhi, Mumbai, Bangalore, Hyderabad, Coimbatore, Ahmedabad and Thiruvananthapuram. Apart from this, the platform will also offer specific job training programmes like spoken English.

 

3. DRDO sets up Covid testing facility at DIHAR in Leh: The Defence Research and Development Organisation (DRDO) has set up a Covid-19 testing facility in Leh, Ladakh. The testing facility was inaugurated by Ladakh Lieutenant Governor R K Mathur on 22 July 2020 and will increase the rate of testing to identify corona cases in the region. The facility has been established at the Defence Institute of High Altitude Research (DIHAR), Leh, one of the life sciences laboratories of DRDO. The DIHAR testing facility is capable of screening 50 samples per day. It can also be utilised for training manpower for Covid testing. Besides, the facility will be of great help to address future bio-threats and carrying out R&D activities pertinent to agro-animal diseases.

Note: Chairman of Defence Research and Development Organisation: G Satheesh Reddy.

Lieutenant Governor of Ladakh: RK Mathur.

 

4. Airtel Payment Bank ties up with NSDC to develop skill in rural youth: Airtel Payments Bank Ltd and National Skill Development Corporation (NSDC) have collaborated in order to train and skill young people in rural areas on financial services and helping them in finding jobs and become entrepreneurs in the sector. The collaboration has an objective to design & conduct focused skill development programs for rural youth and enabling them to adopt the tools to boost online banking and digital financial services. After the completion of skill development programmes, both the organizations will leverage their industry connections to help the trainees find jobs.

Note: Managing Director & Chief Executive Officer of Airtel Payments Bank: Anubrata Biswas.

MD & CEO of National Skill Development Corporation: Manish Kumar.

 

5. Government extends tenure of NCLT Acting President BSV Prakash Kumar for one month: The Ministry of Corporate Affairs (MCA), Government of India, has extended the tenure of the Acting President of the National Company Law Tribunal (NCLT) BSV Prakash Kumar for one more month, with effect from 5 July 2020. This is the second extension given to BSV Prakash Kumar. He was appointed as Acting President of NCLT for a period of three months from January 5 after the retirement of Justice MM Kumar as NCLT President. In April 2020, the government had extended the tenure of BSV Prakash Kumar for three months, which ended on July 5. However, since no permanent President has yet been finalized, so the government has further extended his tenure for a month till 5 August 2020.

 

6. Alok Misra becomes new CEO & Director of MFIN: Microfinance Institutions Network (MFIN) has appointed Alok Misra as its new Chief Executive Officer & Director. The appointment will be effective from 1st August 2020. Dr Misra takes over from the present CEO, Harsh Shrivastava, who has put down his papers after spending over 2 years at MFIN. Misra is currently serving as the professor and chairperson of public policy and governance at MDI Gurgaon. He has 28 years of professional experience in international development, rural finance, microfinance, inclusive finance, and research and has worked with 22 countries.

Note: MFIN Headquarters: Gurgaon, Haryana.

 

7. AIIMS Nagpur launched smart wristband to tracks Covid-19 patients:  All India Institute of Medical Sciences (AIIMS), Nagpur has designed and developed a ‘smart wristband’ for effective tracking and monitoring of Covid-19 positive and suspect patients. The new device, a wristband is designed in collaboration with IIT Jodhpur and IIT Nagpur, looks to overcome the limitations of existing online mobile apps used for tracking and monitoring coronavirus patients. The device will operate on a technology that is more effective than the GPS system. The data collected through wristband will be collected and archived on cloud facilitating monitoring by health workers from a distance.

 

INTERNATIONAL UPDATES:

 

1. Turkmenistan gets observer status in World Trade Organization: World Trade Organization (WTO) General Council has granted the “Observer” status to the central Asian country Turkmenistan. With this, Turkmenistan has become the last former Soviet republic to establish formal ties with the trade body. Turkmenistan has become the 25th observer of the organization. Turkmenistan will now be able to reap the benefits of acquisition of the status as it would help the country to develop its economy, promote multilateral cooperation, attract foreign investment and develop international trade relations.

Note: Director-General of World Trade Organization: Roberto Azevedo; World Trade Organization (WTO) headquarter: Geneva, Switzerland

President of Turkmenistan: Gurbanguly Berdymukhamedov; Capital: Ashgabat; Currency: Turkmen manat.

 

2. Nicaragua becomes 87th country to sign International Solar Alliance Framework Agreement: Nicaragua has become the most recent country to join the International Solar Alliance (ISA) Framework Agreement, an initiative led by India to promote sustainable energy. The agreement on behalf of the Central American country Nicaragua was signed by the Permanent Representative to the United Nations Jaime Hermida Castillo at the Permanent Mission of India to the United Nations in New York on 22, July 2020. With this, Nicaragua has become the 87th country to sign the agreement.

Note: International Solar Alliance Headquarters: Gurugram, Haryana.

Capital of Nicaragua: Managua; Currency of Nicaragua: Nicaraguan Cordoba; President of Nicaragua: Daniel Ortega.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. FamPay launches ‘numberless card’ for teenagers: India’s first Neobank for teenagers, FamPay has launched India’s first numberless card, “FamCard”. Teenagers can now use FamCard like a debit card to make payments independently, without asking parents for physical cash or their debit/credit card. FamCard is a numberless card, all the card details are saved on the FamPay app and there is no need to refer to the physical card to fill in details during online transactions. If in any case card gets stolen, there’s no fear as the card can be paused, blocked, and managed at fingertips on the app. The numberless card will give cashless convenience to millions of teens and their parents. Minors can also pay online/offline by using FamCard as it doesn’t require any bank account. Every transaction is protected with device locks like a fingerprint, Face ID, pattern lock, or PIN. The numberless card can be ordered once the account is set up on the app, after both the parent and teen complete their KYC online. FamPay app is available for both Android and iOS on the Google Play Store and Apple Store respectively. The FamCard is an innovative consumer solution for India’s Gen-next population.

Note: FamPay Headquarters: Bengaluru, Karnataka; FamPay Founders: Kush Taneja & Sambhav Jain.

 

2. Bank of Baroda rolls out ‘Insta Click Savings Account’: India’s third-largest public sector bank, Bank of Baroda (BoB) has launched ‘Insta Click Savings Account’. Insta Click Savings Account is a 100% paperless digital self-assisted online savings account. This account uses a new form of digital KYC (know-your-customer) and Aadhaar-based OTP (one-time personal identification number) authentication of the customer, which can be operated from the bank’s website, through mobile phone, IPad, laptop, and PC. The account is activated in real-time, which means the customer can start transacting, using the Baroda M Connect Plus application with the MPIN received on the mobile number, immediately.

Note: Bank of Baroda Headquarters: Vadodara, Gujarat; Bank of Baroda MD & CEO: Sanjiv Chadha.

 

3. Amazon Pay ties up with Acko to sell auto insurance: Digital payments major, Amazon Pay has launched vehicle insurance in partnership with Bengaluru-based startup Acko General Insurance. Amazon Pay, a payments unit of Amazon India, will help customers purchase insurance effortlessly and Amazon Prime members will get extra benefits including additional discounts. Amazon has been selling third-party insurance products but this partnership will enable an easy-to-use integrated buying experience for its customers. Policyholders will also have an option for instant cash settlements for low-value claims, making it beneficial for customers. Additionally, customers can select from a list of add-ons like zero-depreciation and engine protection and they will be able to pay for the insurance using Amazon Pay balance, UPI, or cards.

Note: Amazon Pay Headquarters: Seattle, Washington United States; CEO & MD for Amazon Pay India: Mahendra Nerurkar.

Acko General Insurance Ltd Founder: Varun Dua; Acko General Insurance Ltd Headquarters: Mumbai.

 

BUSINESS AND ECONOMY

 

1. CCI approves acquisition of Krishnapatnam port by Adani Ports & SEZL: Acquisition of Krishnapatnam Port Company Limited (KPCL) by Adani Ports and Special Economic Zone Limited (Adani Ports) has been approved by the Competition Commission of India (CCI). According to the proposed combination, Adani Ports will acquire equity shareholding along with management control of KPCL. Adani Ports is a customer-facing integrated port infrastructure services provider and manages the logistics chain. KPCL operates the deep water port at Krishnapatnam, Andhra Pradesh, as per the the concession agreement on Build-Operate-Share-Transfer basis with Government of Andhra Pradesh for a period of thirty years from the date of commercial operations. It is also entitled for a further period of 20 years. Adani Ports is a customer-facing integrated port infra-services provider in 6 maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu, Odisha.

Note: Chairperson of Competition Commission of India: Ashok Kumar Gupta.

 

DEFENSE

 

1. Indian Navy’s Largest solar power plant commissioned at Indian Naval Academy in Kerala: The largest solar power plant of the Indian Navy has been commissioned at the Indian Naval Academy, Ezhimala, located near Payyanur, in Kannur district of Kerala. The 3 MW Solar Power Plant was commissioned via virtual conferencing, by Vice Admiral Anil Kumar Chawla on 23 July 2020.  It is a 3 MW Solar Power Plant which has been set-up in line with the Indian Government’s initiative of ‘National Solar Mission’ which aims to achieve 100GW of solar power by 2022. The 3 MW Solar Power Plant established at Indian Naval Academy, Ezhimala is the largest in the Indian Navy and has an estimated life of 25 years. Kerala State Electronics Development Corporation Ltd (KELTRON) has executed this project. The project will also support Naval Station Ezhimala in decreasing the carbon foot print.

Note: Chief of Naval Staff: Admiral Karambir Singh.

 

OBITUARIES

 

1. Eminent danseuse & choreographer Amala Shankar passes away:  Eminent danseuse and choreographer Amala Shankar passed away. She was honored with the West Bengal government’s Banga Bibhusan award in 2011 for her contributions to art. First performance of Amala Shankar was in Kaliya Daman which was staged in Belgium in 1931. She also acted in the film “Kalpana” which was released in 1948.

 

2. Legendary Jazz Singer Annie Ross passes away: Legendary Jazz Singer, Annie Ross passed away. She was a popular jazz singer in the 1950s before crossing over into a successful film career. Ross appeared in “Superman III,” “Throw Momma From the Train” and Robert Altman’s films “The Player” and the Oscar-nominated “Short Cuts.” In 2014, Ross released the album “To Lady With Love,” a tribute to Billie Holiday.