Daily GK Updates - 16th Aug, 2020

 

NATIONAL UPDATES:

 

1. PM Modi Announces One Sun, One World, One Grid (OSOWOG) initiative: PM Modi in his speech of Independence Day 2020, announced the “One Sun, One World, One Grid” (OSOWOG) plan. Under this, there will be a trans-national electricity grid, for supplying solar power across the globe. Prime Minister Narendra Modi first announced this idea of OSOWOG in 2018 during the first assembly of the International Solar Alliance (ISA). As per the draft plan prepared by the Ministry of New and Renewable Energy (MNRE), the OSOWOG will connect 140 countries through a common grid that will be used to transfer solar power. “The vision behind the OSOWOG mantra is “the Sun never sets” and is a constant at some geographical location, globally, at any given point of time.” Three phases of OSOWOG: The OSOWOG plan will be executed in three phases to share solar and other renewable energy resources:

Phase I: Indian grid will be connected with the Middle East, South Asia and South-East Asian grids

Phase II: Connect the first phase nations with the African Region countries rich in solar and other renewable energy resources.

Phase III: Global interconnection

 

2. State-of-art Katra-Delhi Express Road Corridor to be functional by 2023: The Government of India has started the work on the first-of-its-kind Katra (Jammu and Kashmir) – Delhi Express Road Corridor project. The project is estimated to be completed in three years and become functional by 2023. Once functional, the travel time from Katra to Delhi will get reduced to around six and half hours, and from Jammu to Delhi to just about six hours. It will connect Delhi with Amritsar in Punjab and Katra in Jammu and Kashmir. Katra- Delhi Express Road Corridor project is estimated to cost over Rs. 35,000 crores. The  687-kilometre-long expressway is being constructed as part of the Bharatmala project. The important cities through which this Expressway Corridor will pass include Jammu and Kathua in J&K, and Jalandhar, Amritsar, Kapurthala, and Ludhiana in Punjab.

 

3. West Bengal launches Karma Sathi Prakalpa Scheme to provide soft loans, subsidies to unemployed youth: The West Bengal government has launched a new scheme known as ‘Karma Sathi Prakalpa’ under which one lakh unemployed youth of the state would be provided soft loans and subsidies to make them self-reliant. A budget of Rs 500 crore has been earmarked for the successful implementation of this scheme. The state government would provide loans to 1 lakh youth every year to help them start their own business.

Note: West Bengal Chief Minister: Mamata Banerjee; Governor of West Bengal: Jagdeep Dhankhar

 

4. Nagaland Government Rolls-Out Centralized e-commerce platform “YellowChain”: On the occasion of Independence Day, the Chief Minister of Nagaland, Neiphiu Rio has launched “Yellow Chain”- a centralized e-commerce platform, to promote local business and entrepreneurship in the State. Yellow Chain will act as an integrated platform for the people of the state, where any Seller/Service Provider/Individual/Group can register themselves and upload their products, trades, skills, services etc. to enable the citizens/buyers to have access to their Service or Product. It may include Home service(Barber, Electrician, Plumber, Painter, Carpenter, Water Service etc.), Delivery service, IT Products & Services, Cab & Taxi Service, Health Care & Education, Fast food & Catering, Bakeries & Confectioneries, Grocery Stores, Local Product/Produces, Trainings, Pre-owned Products, Real Estate, Rentals etc. The site can be accessed at www.yellowchain.in

Note: Chief Minister of Nagaland: Neiphiu Rio; Governor of Nagaland: R. N. Ravi.

 

5. Odisha bags top position in implementation of AMRUT scheme: Odisha has emerged as the topmost state in the country for the consecutive second year in effective implementation of Atal Mission for Rejuvenation and Urban Transformation (AMRUT) scheme. Odisha has secured 85.67 percent of marks in the ranking of the states for 2020 released by the Ministry of Housing and Urban Affairs. Chandigarh and Telangana have been placed at second and third positions with 75.08 and 74.04 percent respectively. Gujarat, Karnataka, Andhra Pradesh, Mizoram, Madhya Pradesh, Chhattisgarh, and Andaman and Nicobar Islands are the top 10 states in the list. The AMRUT scheme was launched by the Union Government on 25 June 2015 to ensure that every household has access to basic services (e.g. water supply, sewerage, urban transport) and build amenities in cities which will improve the quality of life for all, especially the poor and the disadvantaged is a national priority.

 

6. Puducherry celebrates its 59th ‘De-Jure’ day: The Union Territory of Puducherry has celebrated its 59th anniversary of the “De-Jure” day on 16th August. The Puducherry administration organized a function at the Keezhoor memorial where the referendum was signed to mark the occasion. So on that day, the “De-Jure” (The Legal Merger of the UT with the Indian Union) was effected. History:

Puducherry became independent by virtue of a referendum on October 18, 1954. But the treaty of cession signed between the French and Indian governments was ratified by the French Parliament only on August 16, 1962. The referendum was taken on October 18, 1954, on whether to remain in the French regime or to merge with the Indian union. As many 178 representatives participated in the referendum in which 170 voted in favour of a merger with India and 8 against it. The referendum was taken at Keezhoor near Villianur here and to commemorate the occasion a memorial was constructed at Keezhoor.

Note: Chief Minister of Puducherry: PV. Narayanasamy; Lieutenant Governor of Puducherry: Kiran Bedi.

 

INTERNATIONAL UPDATES:

 

1. India Extends USD 1 Million Assistance To Antigua and Barbuda To Combat COVID-19: India has provided financial aid of USD 1 million to Antigua and Barbuda to combat the COVID-19 outbreak. The government has also provided 10,000 hydroxychloroquine tablets to the Government of Antigua and Barbuda as a gesture of goodwill in support of its fight against COVID-19. Apart from this, USD 1 million, has also been offered to each Caribbean Community (CARICOM) country by the Indian government. CARICOM is a group of twenty developing countries in the Caribbean. These assistances will be used to improve health infrastructure and capacities by procuring ventilators, full cover goggles, disposable impervious gowns, face shields, examination gloves and disposable masks among others.

Note: Antigua and Barbuda Capital: Saint John's; Currency: Eastern Caribbean dollar

 

2. India will fund Greater Male Connectivity Project through USD 400 mn Line of Credit & USD 100 mn grant: External Affairs Minister Dr S Jaishankar has announced that India will fund the implementation of Greater Male Connectivity Project through a 400 million dollar Line of Credit and 100 million dollar grant. This 6.7 kilometre bridge project connecting Male with Gulhifalhu Port and Thilafushi industrial zone will help revitalise and transform Maldivian economy.  The External Affairs Minister announced that regular cargo ferry service between India and Maldives will be started to boost trade and commerce. India is also starting an air travel bubble with Maldives to sustain and promote the dynamic people-to-people ties between the two countries.

 

OTHER UPDATES:

 

SPORTS

 

1. Lewis Hamilton won Spanish Grand Prix 2020: Mercedes Formula 1 racer Lewis Hamilton (Great Britain) has won Formula One Spanish Grand Prix 2020 at Circuit de Barcelona-Catalunya, Spain. This was his 4th win of Formula 1, 2020 series and 88th Formula-1 victory of his overall victory. He made outright record 156th podium finish during his masterful victory at the Spanish Grand Prix. Max Verstappan (Red Bull – Netherlands) bagged the second position, followed by Valtteri Bottas (Mercedes- Finland).

 

BANKING AND FINANCE

 

1. RBI approves Rs 57,128 crore as surplus to the Central Government for 2019-20: The Reserve Bank of India has approved Rs 57,128 crore as surplus to the Central Government for the accounting year 2019-20. The decision was taken at the 584th meeting of the Central Board of RBI under the chairmanship of Shri Shaktikanta Das, Governor RBI. As per Section 47 of RBI Act, profits of RBI are to be transferred to the government after financial stability and other considerations. This year’s surplus transfer is 67.5% less than the 2018-2019. RBI has also decided to maintain the Contingency Risk Buffer at 5.5%.

 

2. RBI mandates system-based asset classification for UCBs: The Reserve Bank of India (RBI) asked urban co-operative banks (UCBs) with assets of ₹2,000 crore or more to implement system-based asset classification from 30 June 2021. System-based asset classification refers to asset classification (downgrading as well as upgrading) carried out by computerized systems of a bank in an automated manner. It said that UCBs with assets of ₹1,000 crore or above but less than ₹2,000 crore as on 31 March 2020, having self-assessed themselves as being under “Level III or Level IV” on comprehensive cyber security framework for UCBs shall implement it from 30 September 2021.

 

3. GoM approves e-way bill for intra-state gold movement: The Group of Finance Ministers has approved bringing the intra-state movement of gold within the ambit of the e-Way bill. However, the panel of ministers has left the final decision to introduce it or not to the individual states as they would be the correct authority to take a call regarding this. What is an e-Way Bill?

This is kind of an electronic challan which shows that tax has been fully paid before goods are moved from one place to other, within the state (intra-state) or outside the state (inter-state). This is required for carrying any consignment of goods of value exceeding Rs 50000. The threshold of value of goods decided can be higher for intra-state activities. The e-Way bill is generated from the GST Common Portal for this bill by the registered persons or transporters who cause movement of goods before the commencement of such movement. Coming to the e-way bill, it has two parts – Part A and Part B. Part A has invoice details whereas Part B is about the vehicle details such as registration, number, etc. Such details might create a security issue and that is why gold and precious stones were kept outside the ambit of the e-Way bill.

 

OBITUARIES

 

1. Former Indian cricketer Chetan Chauhan passes away: Former Indian cricketer and Minister of Uttar Pradesh Chetan Chauhan (73 years) passed away due to COVID-19 complications. He played 40 Tests matches during his 12-year career and scored 2084 runs with 16 half-centuries and 2 wickets. He also played Ranji Trophy for Maharashtra and Delhi. He was conferred with Arjuna Award in 1981. He was Minister for youth and sports in the state of Uttar Pradesh Cabinet in 2018 and has also served as Minister of Sainik Welfare, Home Guards, PRD and Civil Security in the UP Cabinet.