NATIONAL UPDATES:
1.
GoI and AIIB sign MoU for $500 million for Mumbai Urban Transport Project-III: The Government of
India, the Government of Maharashtra, Mumbai Railway Vikas Corporation and the
Asian Infrastructure Investment Bank (AIIB) has signed a loan agreement for a
$500 million Mumbai Urban Transport Project-III. The aim of the project is to
improve the network capacity, service quality and safety of the suburban
railway system in Mumbai. With a population of 22.8 million (2011), Mumbai
Metropolitan Region (MMR) is the most populous metropolitan region in India and
is expected to reach 29.3 million by 2031 and 32.1 million by 2041.
Note: President of Asian Infrastructure
Investment Bank: Jin Liqun; Headquarters of AIIB: Beijing, China; AIIB
established: 16 January 2016.
2.
Validity of motor vehicle documents extended till Dec 31 amid Covid-19
pandemic:
Central government on 24 August extended the validity of expiring driving
licenses and motor vehicle documents till December 31 in the wake of
coronavirus crisis. This is the third such extension after the earlier
advisories on March 30 and June 9. Ministry of Road Transport and Highways has
decided to extend the validity of Fitness, Permits, Licenses, Registration or
other documents under Motor Vehicles Act, 1988 and Central Motor Vehicle Rules,
1989 till the 31st of December 2020. “The Ministry had earlier issued
advisories on 30th March and 9th June this year regarding extension of validity
of the documents related to Motor Vehicles Act, 1988 and Central Motor Vehicle
Rules, 1989. It was advised that the validity of Fitness, Permit (all types),
License, Registration or any other concerned document(s) may be treated to be
valid till 30th of September 2020,” the statement added.
Considering the situation in country due to
Covid-19 outbreak, the ministry said that if documents mentioned in the list
reached their date of expiration on or after February 1, 2020, and fresh
documents in their place could not be granted due to the nationwide lockdown
imposed by the government, they would be considered valid till December 31,
2020.
3.
DRDO chief G Satheesh Reddy gets two-year extension: Renowned Indian
scientist, G Satheesh Reddy was given a two-year extension as the chairman of
Defence Research and Development Organisation (DRDO). He was appointed to the
post in August 2018 for two years. The Appointments Committee of the Cabinet
has approved the extension of Reddy”s tenure as the DRDO chairman and as the
Secretary of the Department of Defence Research & Development (DoDRD) for a
period of two years beyond August 26.
Note: DRDO Headquarters: New Delhi; DRDO
Established: 1958.
4.
Tata Group to launch “Super App” for digital services: Tata Group is
launching a new app named “Super App” purported to bring together the country’s
disparate sales sector to offer a range of consumer goods. The app will put the
conglomerate in competition with giants of the region like Reliance Industries
and global titans like Amazon. The app will offer food and grocery ordering,
fashion and lifestyle, consumer electronics and consumer durables, insurance
and financial services, education, healthcare and bill payments.
Note: Tata Group Chairman: Natarajan
Chandrasekaran; Tata Group Headquarters: Mumbai, Maharashtra.
5.
Manipur student develops mobile game ‘Coroboi’ amid COVID-19: A class 9 student
from Imphal, Baldeep Ningthoujam has developed a mobile game ‘Coroboi’ amid
COVID-19 pandemic. The game has become popular and most searched android-based
game worldwide and more than 20 thousand users had downloaded the game. Its
theme is Coronavirus and Lockdown. It has already made a record by become
second trending mobile game app in google play store. The game, based on COVID
guidelines is now available for Android users. According to the description of
the app on Google play store, “Coroboi, a boy from India (Manipur) is stranded
and wants to return home. Wearing Leirum Phee (Manipuri traditional cloth) and
a Mask, he will run towards his goal. He will be earning points during his
journey. If the police caught him, a fine of 5000 points will be deducted”
6.
Andhra University Researchers find rare fish ‘Mahseer’ in Sileru river: A team of
researchers from the Department of Zoology, Andhra University has spotted a
species of rare fish called Mahseer (scientific name Tor) on 24 August 2020,
from the upper part of Sileru river, in Andhra Pradesh. This species of fish is
listed under the endangered category by IUCN (International Union for
Conservation of Nature). Professor D.E. Babu, the leader of the research team
has informed that the Golden Mahseer fish, is basically found in the Himalayan
region, where the temperature around year does not exceed 20° Celsius such as
Himachal Pradesh, Uttarakhand, Nepal and Bhutan. But it is rare to find it in
Andhra Pradesh region of the country and calls for a much detailed study.
INTERNATIONAL UPDATES:
1.
India, Uzbekistan conduct first meeting of National Coordination Committee: India and
Uzbekistan held the first meeting of their National Coordination Committee on
August 24, 2020. The committee has been set up to monitor the implementation of
the mutually agreed projects between India and Uzbekistan. The National
Coordination Committee was constituted under the directions of Prime Minister
Narendra Modi and Uzbekistan President Shavkat Mirziyoyev. The first meeting of
the committee was co-chaired by the Minister of State for External Affairs, V.
Muraleedharan and Deputy Prime Minister of Uzbekistan and Minister of
Investments and Foreign Trade, Sardor Umurzakov. Key Highlights:
(1) During the National Coordination
Committee's meeting, the two nations comprehensively reviewed the ongoing and
planned activities of bilateral economic and trade cooperation between the two
nations including the status of negotiations for concluding a Preferential
Trade Agreement, Bilateral Investment Treaty and mutual market access for
agricultural produce for both nations.
(2) The committee also reviewed the
implementation of projects identified under India’s Lines of Credit and the
India-Uzbekistan Entrepreneurship Development Centre at Tashkent. It also
reviewed the cooperation agreement between India's Gujarat and Uzbekistan's
Andijan region.
(3) The co-chairman of the meeting
expressed satisfaction at the progress achieved by the two nations in mutual
projects and expressed hope that the expeditious completion of the projects
will further strengthen bilateral trade and investment between India and Uzbekistan.
(4) The Union Minister of State V.
Muraleedharan further extended an invitation to Deputy PM Umurzakov to visit
India as per mutual convenience.
Note: Uzbekistan Capital: Tashkent;
Currency: Uzbekistani soʻm.
2.
External Affairs Ministry co-hosted 6th ASEAN-India Network of Think Tanks: The Ministry of
External Affairs, Government of India has organized the 6th Round Table of
ASEAN-India Network of Think Tanks (AINTT) in association with Thailand
Ministry of Foreign Affairs. The theme of the two-day long symposium was
‘ASEAN-India: Strengthening Partnership in the Post COVID Era’. It was jointly
inaugurated by External Affairs Minister S. Jaishankar and Deputy Prime
Minister and Foreign Minister of Thailand Don Pramudwinai. ASEAN-India Network
of Think Tanks was formed at the 7th ASEAN-India Summit, which was held in
Thailand in 2009. The aim of AINTT is policymaking for India and the ASEAN
countries for future co-operative actions. The 1st Round Table on AINTT was
held in 2012. Highlights of Round Table:
(1) India raised some concerns over the
UNSC’s approach during the pandemic outbreak, the conflict between USA and WHO
after the COVID-19 outbreak, the future direction of global issues in
post-pandemic conditions.
(2) India asked for a cooperative solution
to all issues and suggested the adoption of strategic autonomy to formulate its
own interest without any influence.
OTHER UPDATES:
SPORTS
1.
Bayern Munich wins UEFA Champions League 2019-20: German
professional sports club, Bayern Munich won the UEFA Champions League 2019-20
title by defeating Paris Saint-Germain 1-0. The final was played in Lisbon,
Portugal. Bayern Munich has become the first European Cup winners who won all
their matches during the tournament. This is the sixth European Champions
League title for Bayern Munich. Bayern Munich joins deposed champion Liverpool
as six-time champions of Europe, only behind AC Milan (7) and Real Madrid (13).
2.
German Golfer Sophia Popov wins Women’s British Open 2020: German Golfer
Sophia Popov won the Women’s British Open 2020 title (rebranded as 2020 AIG
Women’s Open) by defeating Thailand’s Jasmine Suwannapura by two strokes at
Royal Troon in Scotland. She went to the final round by 3-shot lead and
completed with 68 golf shots. Jasmine Suwannapura from Thailand was the
runner-up after shooting 67 shots. Sophia Popov is ranked as the 304 in the
world ranking. Sophia has now become the first female golfer from Germany to
win the LPGA Tour’s major title.
BANKING AND FINANCE
1.
NABARD rolls out Debt and Credit Guarantee Product: The National Bank
for Agriculture and Rural Development has revealed a dedicated debt and credit
guarantee product named as “Structured Finance and Partial Guarantee Program
for Non-Banking Finance Companies (NBFC)-Micro Finance Institutions (MFIs)”.
The newly launched product seeks to offer undisturbed flow of credit to the
last mile in rural areas hit by the pandemic. The Structured Finance and
Partial Guarantee Program for NBFC-MFIs include offering partial guarantee on
pooled loans offered to small and mid-sized MFIs. It will help in facilitating
Rs 2,500 crore funding in the initial phase which is expected to be scaled up
in the future. The program is targeting to cover over 1 million households
across 28 States and 650 districts. Nabard has signed a pact with Vivriti
Capital and Ujjivan Small Finance Bank for this.
Note: Chairman of National Bank for
Agriculture and Rural Development: Govinda Rajulu Chintala.
BUSINESS AND ECONOMY
1.
Businesses with annual turnover of up to Rs 40 lakh are now exempted from GST: Finance Ministry:
The Ministry of Finance on 24 August announced that businesses with an annual
turnover of up to Rs 40 lakhs are exempt from GST and those with a turnover up
to Rs 1.5 crore can opt for the Composition Scheme and pay only one per cent
tax. Earlier, the GST exemption limit
was Rs 20 lakh. In a series of tweets, the Ministry also informed that
significant reliefs have been extended to the construction sector, particularly
the housing sector which has been placed at the 5 per cent tax rate.
Significant relief has been extended to the construction sector, particularly
the housing sector. It has now been placed at the 5% rate. GST on affordable
housing has been reduced to 1%. Once GST was implemented, the tax rate on a
large number of items was brought down. As of now, the 28% rate is almost
solely restricted to sin and luxury items. Out of a total of about 230 items in
the 28% slab, about 200 items have been shifted to lower slabs. The Ministry of
Finance said that the taxpayer base has almost doubled since the rollout of
GST.
The move comes as another relief for
businesses across the country, which is dealing with the adverse effects of the
coronavirus pandemic. Earlier, the Central government had also announced an
economic package to revive the economy.
AWARDS AND HONOURS
1.
NLCIL bags “Swachhta Hi Seva award” for transforming Neyveli Township: The Government of
India Navratna, NLC India Limited (NLCIL) has bagged the award for making an
extremely valuable contribution in the implementation of the “Swachhta Hi Seva
Programme”. Rakesh Kumar, CMD of NLCIL hailing the efforts of NLCIL in
transforming the entire Neyveli into a plastic-free, clean and green campus,
and announcing the “Swachhta Hi Seva 2019” Award. The Swachhta Hi Seva Award
was conferred to the following three units of NLCIL:
Township Administration Office: First rank
Thermal Power Station-1: Second rank
Mines Sub-Stores: Third rank
About Swachhta Hi Seva programme: The
Swachhta Hi Seva programme, an initiative of the Swachch Bharat Mission, was
launched by Hon’ble Prime Minister Shri Narendra Modi in September 2019. NLCIL
Implemented the programme in two phases: the first phase from September 11,
2019, to November 2, 2019; and the second phase from October 3 to October 27,
2019.
Note: NLCIL Founded: 1956; NLCIL
Headquarters: Neyveli, Chennai, Tamil Nadu.
DEFENCE
1.
India Pavilion Inaugurated at Army-2020 International Military and Technical
Forum In Russia: The
ARMY 2020 International Military and Technical Forum has been organised in
Moscow, Russia from August 23 to 29, 2020. The forum is being organised by the
Russian Defence Ministry since 2015, at the Patriot Park near Moscow. The India
Pavilion at the 6th edition of the International Military-Technical Forum was
inaugurated by Secretary (Defence Production) Raj Kumar and Indian Ambassador
DB Venkatesh Verma. Delegations from at least 70 nations have confirmed their
participation in the high-profile event. Over 730 pieces of Russian weapons and
equipment, as well as 28,000 exhibits from industrial enterprises will be
showcased for a free inspection. For the first time, a line of 23 tanks and
armoured vehicles were deployed in an open area in Patriot Park. Discussions
will also be held among global military officials, researchers and defence
industry experts about the application of 3D technologies in designing,
manufacturing and operating weapons and military equipment.
Note: President of Russia: Vladimir Putin; Capital of Russia: Moscow; Currency: Russian Rouble; Prime minister: Mikhail Mishustin.
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