Daily GK Updates - 9th July, 2020

NATIONAL UPDATES:

1. Important Cabinet Approvals: 08 July 2020: The following approvals were made on 8th July 2020 during the Union Cabinet meeting chaired by the Prime Minister Shri Narendra Modi:

(1) Extend the EPF contribution of 24% (12% employees share and 12% employers share) for another three months from June 2020 to August 2020 under PMGKY/AATMANIRBHAR BHARAT.

(2) Developing of Affordable Rental Housing Complexes (AHRCs) for urban migrants/ poor as a sub-scheme under Pradhan MantriAwasYojana – Urban (PMAY – U)

(3) Extension of time limit for availing the benefits of “Pradhan Mantri Garib Kalyan Yojana” for Ujjwala beneficiaries by three months w.e.f. 01.07.2020

(4) Extension of Pradhan Mantri Garib Kalyan package-Pradhan Mantri Garib Kalyan Anna Yojana – distribution of free of cost Whole Chana for five months from July to November, 2020

(5) Capital infusion for an overall value of Rs.12,450 crore for the three Public Sector General Insurance Companies – Oriental Insurance Company Limited (OICL), National Insurance Company Limited (NICL) and United India Insurance Company Limited (UIICL)

(6) Increase authorised share capital of NICL to Rs.7,500 crore and that of UIICL and OlCL to Rs 5,000 crore respectively.

2. AIIB provides USD 50 mn to L&T Infra Finance for renewable energy: L&T Infrastructure Finance Company Ltd (LTIFCL) has received USD 50 million from the Asian Infrastructure Investment Bank (AIIB), for funding Renewable Energy projects in the country. The loan amount is first tranche of the total USD 100-million ECB (External Commercial Borrowing) loan approved by Beijing-based AIIB. The fund will be used for on-lending large and mid-scale wind and solar power infrastructure projects in India. Also, this is the first loan by AIIB to a non-banking financial company (NBFC) in India.

Note: Managing Director & CEO of L&T Finance Holdings: Dinanath Dubhashi.

President of Asian Infrastructure Investment Bank: Jin Liqun; AIIB HQs: Beijing

3. Justice Bansi Lal Bhat term as acting chairperson of NCLAT extended: The Ministry of Corporate Affairs (MCA) has extended the term of Justice Bansi Lal Bhat as the acting chairperson of the National Company Law Appellate Tribunal (NCLAT) by three months. His extended term will begin from 15 June 2020, or until a regular chairperson was appointed. Bhat was appointed as the acting chairperson of the appellate tribunal on March 15, 2020 after the completion of the term of Justice SJ Mukhopadhaya. NCLAT was constituted under Section 410 of the Companies Act 2013

4. ‘Compact XL’ system for covid-19 tests lauched by MyLab: Mylab Discovery Solutions has launched the ‘Compact XL’ system for conducting a wide range of tests, including RT-PCR tests for COVID-19. This is India’s first machine to automate the manual processes of molecular diagnostic tests such as RNA/DNA-based tests including COVID-19 RT-PCR tests. The ‘Compact XL’ RT-PCR system can test 32 tests at a time on one system and there are options to connect multiple systems on one network. This system is designed to reduce the requirement for manpower, multiple systems can be networked together to achieve the throughput of 96 to 1000 plus samples per day. The machine is designed to automate lab operations from sample handling to RT-PCR ready tube preparation, and do these operations in one single compact benchtop machine.

Note: Mylab Discovery Solutions Executive Director: Shailendra Kawade; Mylab Discovery Solutions Managing Director: Hasmukh Rawal; Mylab Discovery Solutions Headquarters: Pune, Maharashtra.

5. Himalayan Golden Birdwing butterfly named as India’s largest butterfly: Himalayan Golden Birdwing butterfly named as India’s largest butterfly, a record an unknown specimen had held for 88 years. The female Golden Birdwing with 194 mm wingspan was recorded at Uttarakhand’s Pithoragarh district’s Didihat town, while the male Golden Birdwing with 106 mm wingspan was recorded at the Wankhar Butterfly Museum (in Shillong). The new measurements of this and 24 other species of butterflies were published in the latest issue of Bio notes, a quarterly newsletter for research on life forms. Shristee Panthee of the University of Chinese Academy of Sciences in Yunnan and Peter Smetacek of the Butterfly Research Centre at Bhimtal in Uttarakhand are the authors of the study.

6. IIT Alumni Council sings MoU with CSIR-IGIB for COVID-19 research: IIT Alumni Council and CSIR Institute of Genomics and Integrative Biology (CSIR-IGIB) has signed an agreement to jointly conduct research on COVID-19 and patient data analysis. World's largest molecular diagnostic lab 'MegaLab Mumbai' is also being set up by the council with a capacity of one crore tests It will not only create a world-leading testing and treatment ecosystem but also establish global data leadership.

7. Railways, BHEL tie up for solar power generation: Indian Railway in collaboration with Bharat Heavy Electricals Limited (BHEL) has set up a 1.7 Megawatt solar power plant at Bina, Madhya Pradesh. The project involves the adoption of innovative technology for converting Direct Current to single-phase Alternating Current for feeding directly to Railway’s overhead traction system.

Note: Chairman & MD of BHEL: Nalin Shinghal; BHEL founded: 1964; Headquarters: New Delhi, India; Union Minister of Railways: Piyush Goyal.

8. Karnataka government launches “Nekara Samman Yojane”: Karnataka government has launched a relief scheme “Nekara Samman Yojane” for weavers. The state government has allocated a sum of Rs 10.96 crore under the programme. As per the state government, the Silk, cotton, wool and other handloom weavers have been made eligible under the scheme.

Note: Chief Minister of Karnataka: B.S. Yediyurappa; Governor: Vajubhai Vala.

INTERNATIONAL UPDATES:

1. Maldives & Sri Lanka eliminate measles & rubella, ahead of 2023 target: According to the World Health Organisation’s (WHO), South-East Asian Region (SEAR) office, Maldives and Sri Lanka were verified for having eliminated measles and rubella. Now, Maldives and Sri Lanka are the first two countries in the WHO South-East Asia Region to achieve measles and rubella elimination ahead of the 2023 target. The Maldives reported last endemic case of measles in 2009 and of rubella in October 2015, while Sri Lanka reported last endemic case of measles in May 2016 and of rubella in March 2017.

Note: President of Sri Lanka: Gotabaya Rajapaksa; Prime Minister of Sri Lanka: Mahinda Rajapaksa; Capital of Sri Lanka: Sri Jayawardenepura Kotte; Currency of Sri Lanka:  Sri Lankan rupee.

President of the Maldives: Ibrahim Mohamed Solih; Capital of Maldives: Male; Currency of the Maldives: Maldivian Rufiyaa.

2. US formally notifies UN about its withdraw from WHO: The Trump administration has formally notified the United Nations of its decision to withdraw from the World Health Organization (WHO), breaking off over 70 years ties with the global health body amid the expanding coronavirus pandemic. The US has accused the WHO of siding with China on the outbreak of the virus, alleging that WHO misled the world in responding to the outbreak, resulting in deaths of over half a million people globally, including over 1 lakh 30 thousand in America. The withdrawal notice was sent to U.N. Secretary-General Antonio Guterres on 6th July 2020 and will take effect on July 6, 2021. The US contributes around $400-$500 million to the WHO each year. In April, the US stopped funding to WHO as the Trump administration reviewed the ties. A month later, President Donald Trump announced the US was terminating the relationship.

Note: Headquarters of WHO: Geneva, Switzerland; Director-general of WHO: Tedros Adhanom.

3. India ranks 34th in JLL’s Global Real Estate Transparency Index; UK Tops: The US-based JLL and LaSalle’s biennial Global Real Estate Transparency Index (GRETI) 2020 was released on 7th July 2020 to rank countries having the most transparent operating environments for real estate investors, developers and corporate occupiers. India is ranked at 34th position globally on the index, with higher levels of transparency due to regulatory reforms, enhanced market data and sustainability initiatives. India’s rank has improved by five notches from 39 in 2018 to 34 in 2020. United Kingdom has topped the GRETI 2020 Index, followed by United States and Australia at second and third position. This is the 11th edition of GRETI ranking and covers 99 countries and territories, and 163 city regions. It is a biennial index whose 11th edition is released in 2020.

OTHER UPDATES:

BANKING AND FINANCE

1. KVB tie-up with Bajaj Allianz Life to offer life insurance solutions: Karur Vysya Bank has signed an agreement with Bajaj Allianz Life Insurance to offer life insurance solutions to its customers. Bajaj Allianz’s products will be available at the Bank’s 780 branch offices spread across India. Under this partnership, all retail and group products of Bajaj Allianz Life Insurance will be made available to the Bank’s customers, including savings, retirement, investment, protection and critical illness life insurance products. KVB will also benefit from the advantage to offer their customers a value-packed life insurance solution for their financial requirements under a single roof.

Note: Headquarters of Karur Vysya Bank: Karur, Tamil Nadu; Chairman of Karur Vysya Bank: N. S. Srinath.

Bajaj Allianz Life Insurance Headquarters: Pune, Maharashtra; Bajaj Allianz Life Insurance MD & CEO: Tarun Chugh.

2. CBDT & SEBI signs MoU for data exchange: Central Board of Direct Taxes (CBDT) and Securities and Exchange Board of India (SEBI) signs MoU via video conference. It will facilitate the sharing of data and information between SEBI and CBDT on an automatic and regular basis. It will also facilitate exchange of any information available in their respective databases. Data Exchange Steering Group has also been constituted to review the data exchange status.

Note: Chairperson of CBDT: Pramod Chandra Mody; Headquarters of CBDT: New Delhi.

Chairman of Securities and Exchange Board of India: Ajay Tyagi; Headquarter: Mumbai.

BUSINESS AND ECONOMY

1. Google Rebrands its Social Networking App Google+ as Google Currents: Internet search giant Google has officially relaunched its former social networking platform Google+ as Google Currents on 7th July 2020. The new app is targeted more towards businesses and enterprise users. The company launched Google Plus as a social network platform to compete with the likes of Facebook. However due to low usage and some security bugs that were recently discovered, Google+ was shut down in April 2019. The latest version of the app is available for download on Android and iOS system. However, the URL plus.google.com will continue to function and automatically redirect users to currents.google.com.

2. USAID & MNRE announce new partnership to develop clean energy: The Ministry of New and Renewable Energy (MNRE) and US Agency for International Development (USAID) have partnered on 7th July 2020 to increase India- US collaboration for clean energy development. Under the partnership, the USAID-supported South Asia Group for Energy (SAGE), a US government consortium, will provide advanced technical knowledge on clean energy development from America’s national laboratories to MNRE’s National Technical Institutions and other public institutes. SAGE will provide a formal platform for collaboration on clean energy development to make MNRE National Institutions act as a powerhouse of science, engineering, and technology for India and the entire South Asia region.

Note: MNRE Secretary: Indu Shekhar Chaturvedi

DEFENSE

1. Akash Missile: BDL signs licence agreement & ToT with DRDO: Bharat Dynamics Limited (BDL) has signed License Agreement and Transfer of Technology (ToT) with Defence Research and Development Organisation–Defence Research and Development Laboratory (DRDO–DRDL) for Akash Missile Weapon System (Indian Army Variant). Akash Missile is the first medium-range Surface to Air missile produced in India which can engage multiple targets from multiple directions. The missile flies at a speed of nearly 860 meters per second at a maximum altitude of 18 km.

OBITUARIES

1. Veteran bollywood actor Jagdeep passes away: Veteran Bollywood actor-comedian, Jagdeep passed away. He was born as Syed Ishtiaq Ahmed Jafri, the legendary actor was popularly known as Jagdeep, his stage name. He was the father of popular comedian Javed Jaffrey. He was best known for his roles in films such as Sholay, Purana Mandir and Andaz Apna Apna. He was last seen in 2012 movie Gali Gali Chor Hai, in which he played the role of a police constable.

2. Kannada TV actor Susheel Gowda passes away: Kannada TV actor Susheel Gowda died by suicide at his hometown in Mandya in Karnataka. He was 30 years old. He had a stint in television before landing a role in a Kannada movie titled Kamarottu Checkpost. He also acted in Duniya Vijay-starrer Salaga which is yet to be released.  Apart from acting, Sushil Kumar was an instructor in a gym in Bengaluru but was out of work following the cessation of all film activities due to the COVID-19 lockdown and closure of gym.