Daily GK Updates - 14th March,2020

NATIONAL UPDATES:

1. GoI notified Hand Sanitizers and Mask under Essential Commodity Act: Due to the ongoing outbreak of COVID-19 (Corona Virus), Government has notified an Order under the Essential Commodities Act to declare hand sanitizers and Mask as Essential Commodities up to 30th June 2020 by amending the Schedule of the Essential Commodities Act, 1955. It has also issued an advisory under the Legal Metrology Act to ensure the sale of both the items at MRP. Under the E.C Act, States can ask manufacturers to enhance the production of specific products.

Note: Union Minister of Consumer Affairs, Food and Public Distribution: Ramvilas Paswan.

2. Department of Posts Launches India’s First Digital Parcel Locker Service in Kolkata: In a first of its kind initiative, the Department of Posts has introduced a free digital parcel locker service in the state of West Bengal. The digital parcel locker service has been launched, keeping in mind working people, who cannot receive parcels because they have no one at home to receive consignments during office hours. The facility will be available in two post offices in Kolkata, namely the Nabadiganta IT Post Office in Sector 5 of Salt Lake City and another in New Town.

How will the digital parcel locker service work??

Customers will be given a specific locker number as the address where India Post will drop the parcel. Consignments will be dropped into the digital parcel locker and an SMS will be issued along with an OTP number to the customer concerned. The consignment will remain accessible to customers for seven days during which they can collect the parcel any time of the day. It will enable customers to collect their consignment from specified post offices at their convenience, however, it will be limited to consignments received through registered post or speed post.

Note: Headquarters of Indian Post: New Delhi.

3. UP Government Launches Schemes for skill development & employment generation: Uttar Pradesh Chief Minister Yogi Adityanath has launched three ambitious schemes for skill development and employment generation for youths in the state. The three schemes are Kaushal Satrang scheme, Chief Minister Apprenticeship Promotion Scheme (CMAPS) and the Yuva Udyamita Vikas Abhiyan (YUVA). The state government has also announced to depute ”Arogya Mitras” at all primary health centres to inform people about government health schemes.

UP Kuashal Satrang Yojana 2020 : Kaushal Satrang scheme is a skill development scheme with 7 components to help provide job opportunities to the youth. Under this scheme, each district will organize Mega job fair.

Yuva Udyamita Vikas Abhiyan (YUVA Hub Yojana): Yuva Hubs scheme will facilitate startups to create jobs. Yuva Hubs will be set up in each districts of the state to make youths self dependent by providing them appropriate training programmes, so that they would be able to get suitable jobs as per their qualification. An amount of Rs. 50 crore is proposed to setup YUVA Hub in every district. Overall amount of Rs. 1,200 crore has been allocated to the scheme in the UP budget 2020-21.

CM Apprenticeship Promotion Scheme (CMAPS): This is a UP Govt. Internship Scheme to impart on-job training to youths of state. In this scheme, jobless people will not only get training but will also get Rs. 2500 per month as stipend. A provision of Rs. 100 crore has been allocated to the theme. All the unemployed candidates will get this training in MSME units and government will link them with employment of definite period.

Note: Chief Minister of Uttar Pradesh: Yogi Adityanath; Governor: Anandiben Patel

4. Mumbai Central railway station to be renamed: The Mumbai Central railway station on the Western Railway route of the Mumbai Suburban rail line is set to be renamed. The Uddhav Thackeray government sanctioned a proposal for rechristening it as Nana Shankarseth Mumbai Central railway station. The station, designed by British architect Claude Batley, serves as a major stop for both local suburban and long distance trains.

Jagannath (Nana) Shankarseth (1803-1865) was a Maharashtrian philanthropist and educationist who is contributed a lot to the development of Mumbai. The first Indian to be nominated to erstwhile Legislative Council of Bombay, he was also instrumental in the formation of the Indian Railway Association, which had pushed efforts to bring railways to the country.

5. ARCI developed a cost-effective solar receiver tube technology for heat applications: Scientists from the International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI), Hyderabad developed a cost-effective solar receiver tube technology for industrial process heat applications. Solar receiver tube technology is used in Concentrating Solar Thermal (CST). The receiver tube technology absorbs solar radiation and converts it into heat for the targeted applications, especially in industries. It also exhibits high corrosion resistance suitable for Indian weather conditions. It provides a viable solution to meet the demands on industrial process heat (≤250°C) of a majority of industrial processes. The government has signed MoU with M/s. Greenera Energy India Private Limited for technology transfer. It plans to mass-produce the solar receiver tube for wider market absorption.

6. SpiceJet to set up warehousing & distribution facility at GAHSL: An Indian low-cost airline, SpiceJet has signed a pact with GMR Hyderabad Aviation SEZ Limited (GHASL). According to the pact, SpiceJet will set up warehousing, distribution and trading facility in the aerospace and industrial park of GHASL. “Ready-to-Use” industrial infrastructure is offered by the park with the flexibility of choosing land within SEZ for business purposes. The warehousing, distribution and trading facility set up will be installed within the Free Trade Warehousing Zone of multi-product special economic zone (SEZ).

Note: GMR Hyderabad Aviation SEZ Limited (GAHSL) is a fully-owned subsidiary of GMR Hyderabad International Airport Ltd (GHIAL).

Chief Executive Officer of GMR Hyderabad Aviation SEZ Limited (GAHSL): Aman Kapoor.

Chairman and Managing Director of SpiceJet: Ajay Singh.

INTERNATIONAL UPDATES:

1. US President declared a national emergency amid coronavirus: US President Donald Trump declared a national emergency unlocking up to 50 billion US Dollars in federal funds to combat the fast-spreading pandemic. The infection has killed over 5,000 people and triggered fears that the deadly outbreak will lead to a global economic recession. The declaration of a national emergency allows the Federal Emergency Management Agency to assist state and local governments and coordinate the nation's response to the crisis.

2. India ranked 2nd in KPMG’s 2020 Technology Innovation Hubs report; Top- UK: India surged back to tie the second position with China in KPMG’s 2020 global technology industry innovation survey which includes responses from more than 800 global leaders in the technology industry. UK has topped the report on technology innovation hubs. Among cities, Singapore, seventh last year, leaped to the top of this year’s global rankings. London moved up one notch to second. Bengaluru is top Indian city at 9th rank. Mumbai is the only other Indian city ranked 16th on the list of top 20 cities.

3. International Day of Mathematics: 14 March: Every year, March 14 is celebrated as the International Day of Mathematics (IDM). The theme for 2020 IDM is “Mathematics is Everywhere“.  The day was initiated by the International Mathematical Union (IMU) to celebrate the beauty and importance of mathematics and its essential role in everyone’s life. The 40th General Conference of UNESCO approved the Proclamation of March 14 as the International Day of Mathematics, on November 26, 2019.

OTHER UPDATES:

SPORTS

1. Saurashtra defeats Bengal to win the Ranji Trophy title: Saurashtra has won the Ranji Trophy Title 2019-20 by defeating Bengal in the finals. The final match was played at Saurashtra Cricket Association Stadium. Saurashtra’s first-innings total of 425, Bengal fell short by 44 runs on the 5th and final day handing the hosts a firm grip on the title. Saurashtra is one of the three teams from Gujarat state that participates in the tournament. The winning side was captained by Jaydev Unadkat. Ranji Trophy is a domestic first-class cricket championship in India.

BANKING AND FINANCE

1. HIL India Limited with UBI launched Customer Payment Portal: HIL (India) Limited, a CPSE under the MoC&F, Department of Chemicals & Petrochemicals, in association with Union Bank of India, has launched Customer Payment Portal to collect the payment through various online modes. The Portal was launched in New Delhi keeping pace with Govt. of India’s vision of ‘Digital India’. This will help the HIL customers to pay dues by any Debit Card, Credit Card, Net Banking, UPI or online wallets from their homes or offices.

2. RBI announces USD INR sell/buy swap for liquidity amid Coronavirus: Observing mismatch in US dollar liquidity across the world, The Reserve Bank has announced a six month US dollar sell/buy swap to provide liquidity to the foreign exchange market. According to RBI, financial markets are facing intense selling pressures due to coronavirus infection. All sectoral indices recorded a fall of over five per cent with shares of realty, metal, oil and gas, banking and finance sectors suffering maximum selling.

BUSINESS AND ECONOMY

1. Bill Gates resigns from Microsoft’s board: Microsoft founder Bill Gates stepping down from Microsoft’s board of directors. He wants to dedicate more time to his philanthropic priorities including global health, development, education, and his increasing engagement in tackling climate change. He also stepped down from the board of Warren Buffett’s Berkshire Hathaway Inc, where he had served since 2004.

Note: Chief Executive Officer (CEO) of Microsoft: Satya Nadella; Microsoft Founded: April 4, 1975; Headquarters of Microsoft: Washington, United States(US).

AWARDS AND HONOURS

1. India’s 1st Living Culinary Arts Museum enters Limca Book of Records: Welcome Group Graduate School of Hotel Administration (WGSHA) of Manipal Academy of Higher Education (MAHE) entered the Limca Book of Records (LBR) for establishing “India’s First Living Culinary Arts Museum” at WGSHA, Manipal, Karnataka. Celebrity chef Vikas Khanna is the Founder and curator of India’s first living culinary arts museum at WGSHA. The museum was opened in the year April 2018, spread approximately over 25,000 square feet & the structure of the museum is shaped in the form of a giant pot similar to the ones found in Harappa.

OBITUARIES

1. Former Olympic javelin champion Dana Zatopkova passes away: Former Czechoslovak Olympic javelin champion Dana Zatopkova passed away. She was an Olympic javelin champion won gold in the Helsinki Olympics in 1952 and won the Olympic silver in Rome in 1960. In 1958, she set the world record of 55.73 meters at the age of 35. She became the European champion in 1954 and 1958. She served as a coach in 1960 and retired from the role in 1980.

Daily GK Updates - 13th March, 2020

NATIONAL UPDATES:

1. Karnataka launches ‘Namaste over Handshake’ campaign for COVID-19: The state government of Karnataka has launched ‘Namaste over Handshake’ campaign with an aim to prevent the spread of COVID-19. Under the campaign, the government advises people to keep a safe distance from one another. The campaign asks people to greet each other by ‘Namaste’ instead of shaking hands in order to protect themselves from others who might be infected with the COVID-19. A health helpline number has also been shared with the locals for clarifying any misinformation or queries.

2. HP to get USD 80 Million to improve water management practices: The World Bank has signed an agreement with the Government of India and Government of Himachal Pradesh to provide USD 80 million (about Rs 600 crore) loan for implementing Integrated Project for Source Sustainability and Climate Resilient Rain-Fed Agriculture in Himachal Pradesh. The project aims to improve water management practices and increase agricultural productivity in 428 gram panchayats in 10 districts in Himachal Pradesh.

Note: President of World Bank: David Malpass; Headquarter: Washington DC.

Chief Minister of Himachal Pradesh: Jairam Thakur; Governor: Bandaru Dattatraya.

3. Digital Solutions Exchange “GOKADDAL” launched in India: The World’s first Digital Solutions Exchange in the cloud “GOKADDAL” has been launched in India. GOKADDAL is a cloud-based solutions exchange platform which focuses on four A’s i.e. Automation, Artificial Intelligence, Analytics and Augmentative Technologies. GOKADDAL brings its customers to the right solutions with right tools and right providers and hence helps them to realize their digital transformation vision. The cloud delivery platform is expected to revolutionize the way digital solutions are sourced, delivered and managed. The Dubai based emerging technology company “GOKADDAL Technologies” is a part of Merkado group.

4. “Technology Innovation Hub” to be established at IIT Mandi: The Indian Institute of Technology (IIT) Mandi will establish a Technology Innovation Hub (TIH) under the National Mission on Interdisciplinary Cyber-Physical Systems (NM-ICPS). The Technology Innovation Hub will be established with the help of Rs 7.25 crore sanctioned by the Department of Science and Technology (DST) to IIT Mandi. Through Technology Innovation Hub, human-computer interaction (HCI) research programmes will take place in IIT Mandi with focus on design and development of computer technology (interfaces). It will also include the study of interaction between humans (users) and computers.

5. UP’s Jewar Airport gets international recognition for strategic infrastructure: The first phase of the Jewar International Airport, in Greater Noida, Uttar Pradesh has been included in the world’s 100 strategic global infrastructure projects for the year 2020. Uttar Pradesh (India) and Yugoslavia are the two states chosen in the field of aviation all over the world. The Jewar International Airport project is being built by Zurich Airport International AG, at an investment of Rs 30,000 crore, on about 5000 hectares of land in Greater Noida. Once operational, Jewar Airport will be Asia’s second largest international airport after China’s Shanghai International Airport and 5th largest airport in the world. The Jewar Greenfield International Airport will boost industrial development in the state. According to the proposal, flights will start operating in 2022-23.

6. Facebook launches ‘Pragati’ to boost women entrepreneurship in India: Facebook India has launched its CSR (corporate social responsibility) initiative, Facebook Pragati to promote women entrepreneurship in India. The initiative will incubate and accelerate early-stage women-led non-profits that are working to drive women entrepreneurship and to spread awareness and adoption of technology among women in India. Facebook Pragati will award four grants of up to ₹50 lakh for each non-profit to scale their work. Facebook Pragati powered by N/Core (The/Nudge Centre for Social Innovation).

Note: CEO of Facebook: Mark Zuckerberg; Facebook Headquarters: California, US.

7. J&K govt revokes detention order of former CM Farukh Abdullah: Jammu and Kashmir administration has revoked the detention order of the former Chief Minister and National Conference leader Dr Farooq Abdullah with immediate effect. Dr Farooq Abdullah has been under house arrest since 15th September last year, following the abrogation of Article 370. He was put under preventive detention at his home on Gupkar Road in Srinagar. Last week, the opposition had demanded the immediate release of former Chief Ministers of J&K.

INTERNATIONAL UPDATES:

1. India among Better-Performing Countries in Animal Protection Index 2020: The global Animal Protection Index 2020 was released by UK-based international animal welfare charity, World Animal Protection. The Animal Protection Index (API) is a comprehensive assessment of 50 countries around the world to showcase where countries are doing well, and where they fall short on animal welfare policy and legislation, so they can take steps to improve. The index ranks countries from A (being the highest score) to G (being the weakest score) according to their policy and legislation. India has attained C ranking in the index, which shows that India is one of the better-performing countries in terms of policies and legislation for animals. India shares the grade with countries like New Zealand, Mexico, France, and Spain. Sweden, the United Kingdom, and Austria are rated with the highest scores, which is encouraging.

Note: World Animal Protection founded: 1981; World Animal Protection Headquarters: London, United Kingdom; Chairman of Animal Protection: Paul Baldwin.

2. India Ranks 46th in Inclusive Internet Index 2020 by EIU; Sweden Tops: India has been ranked 46th out of 100 countries on the inclusive internet index 2020 released by the Economist Intelligence Unit (EIU). The ‘Inclusive Internet Index’ benchmarks countries on the internet’s availability, affordability, relevance and the readiness of people to use it. The annual report is commissioned by Facebook. The 4th edition of the ‘Inclusive Internet Index 2020’ covered 100 countries, representing 91% of the world’s population and 96% of global GDP. Top 3 Nations: (1) Sweden; (2) New Zealand; (3) United States. Burundi was the worst ranked country placed at 100th position.

3. Bhawna Dehariya climbs Australia’s Mount Kosciuszko: Indian mountaineer Bhawna Dehariya has successfully scaled Mount Kosciuszko (2,228-metres), the highest mountain peak in Australia on the occasion of Holi. Dehariya had scaled Mount Kilimanjaro (5, 895 meters), the highest mountain peak in Tanzania on the occasion of Diwali in the year 2019 and also felt fortunate that she had celebrated 2 biggest festivals of India at the mountain peaks. In May 2019, she also became the first women from Madhya Pradesh to scale Mount Everest.

4. TCIL signs MoU with The Gambia for MEA’s eVBAB Network Project: Telecommunications Consultants India Ltd (TCIL) signed a Memorandum of Understanding (MoU) with The Gambia. This MoU is signed for the participation in MEA’s (eVBAB) e-VidyaBharati and e-ArogyaBharati Network Project for telemedicine and tele-education in Africa. The Gambia is the 16th country to participate in the e-Network Project. It is signed by the High commissioner of Gambia, Jainaba Jagne to the Director-Technical at the TCIL, Kamendra Kumar India at New Delhi.

Note: Capital of The Gambia: Banjul; Currency of The Gambia: Gambian dalasi; President: Adama Barrow.

5. India Ranks World’s 2nd Biggest Arms Importer While Placed at 23rd in Exporters List: SIPRI Report: The Stockholm International Peace Research Institute (SIPRI) has released its annual “Trends in international arms transfers 2019” report to determine the International transfers of major arms during the five-year period 2015–19. As per the data, India was the second largest arms importer in the world during the period 2015-19. Russia was the largest supplier of arms to India. Saudi Arabia was the largest arms importer in the world during the same period. Top 5 largest arms importer in the world were Saudi Arabia, India, Egypt, Australia and China respectively, accounting for 36% of all arms imports. Apart from this, India has been ranked 23rd among the 25 largest arms exporters in the world. The largest exporters of arms during the five-year period 2015–19 were the United States, Russia, France, Germany and China respectively.

6. World Sleep Day 2020: 13 March: World Sleep Day is held every year on the Friday before Spring Vernal Equinox. In 2020, the World Sleep Day was observed on March 13, 2020. The theme of 2020 is ‘Better Sleep, Better Life, Better Planet’. Purpose: to celebrate the benefits of good and healthy sleep and to draw society’s attention to the burden of sleep problems and their medical, educational, and social aspects, and to promote the prevention and management of sleep disorders.

OTHER UPDATES:

BANKING AND FINANCE

1. SBI will buy Yes Bank shares worth Rs 7250 crore: The State Bank of India has agreed to buy shares worth Rs 7250 crore of the cash-strapped Yes Bank. The purchase of the shares will be in accordance with the draft reconstruction scheme put forward by the Reserve Bank of India. SBI’s executive committee of central board (ECCB) held a meeting on March 11 and approved to purchase 725 crore shares in Yes Bank at a price of Rs 10 per share subject to all regulatory approvals. Also, the bank’s shareholding in Yes Bank will remain within 49 percent of the paid up capital of the private sector lender. Further, it cannot reduce holding to below 26 percent before three years from the date of capital infusion.

Note: Chief Executive Officer & MD of Yes Bank: Ravneet Gill; Headquarters: Mumbai, Maharashtra.

Chairperson of SBI: Rajnish Kumar; Headquarters: Mumbai; Founded: 1 July 1955.

RBI 25th Governor: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

2. SBI removes minimum balance charges from all savings bank accounts: The State Bank of India has waived off the minimum balance charges on all savings bank accounts. SBI has waive charges for non-maintenance of Average Monthly Balance (AMB) for all 44.51 crore savings bank accounts.

Note: Chairperson of SBI: Rajnish Kumar; Headquarters: Mumbai; Founded : 1 July 1955.

3. Amitabh Bachchan becomes brand ambassador of IDFC FIRST Bank:  IDFC FIRST Bank has signed Amitabh Bachchan as its brand ambassador. With this, Amitabh Bachchan has become the first ever brand ambassador of the bank. IDFC FIRST Bank was founded as a new entity on December 18, 2018, by the merger of IDFC Bank and Capital First.

Note: MD and CEO of IDFC FIRST Bank: V Vaidyanathan; Headquarters: Mumbai.

BUSINESS AND ECONOMY

1. Alibaba Founder Jack Ma Takes Over as Asia Richest Man, Pushing Mukesh Ambani at Second Position: Bloomberg Billionaires Index: Indian energy tycoon and Reliance Industries Chairman Mukesh Ambani is no longer Asia’s richest man as per the Bloomberg Billionaires Index, which is a daily ranking of the world’s richest people. The title of Asia’s richest man has now been taken over by the Alibaba Group Holding Ltd. founder Jack Ma with total net-worth of $45.7 billion, about $2.6 billion more than Ambani. Ambani has been pushed to second spot on the list of Asia’s richest people, with an estimated net-worth of $42.3 billion. Globally, Mukesh Ambani is the 19th richest man in the world while Jack Ma is now the 18th richest man in the world. The decline in Ambani’s net worth comes after the collapse in oil prices along with global stocks.

AWARDS AND HONOURS

1. V Praveen Rao Named for 7th Dr MS Swaminathan Award for 2017-19: V Praveen Rao, Vice-Chancellor of Professor Jayashankar Telangana State Agricultural University (PJTSAU), has won the seventh Dr MS Swaminathan Award for the period 2017-2019. He has been recognized for his contributions in the fields of agricultural research, teaching, extension and administration. The biennial national award will be conferred on him in June 2020. The award was constituted by Retired ICAR Employees Association (RICAREA) and Nuziveedu Seeds Limited (NSL) and carries a prize of ₹2 lakh and a citation.

OBITUARIES

1. Veteran Bengali actor Santu Mukhopadhyay passes away: Veteran Bengali actor Santu Mukhopadhyay passed away. He was popular for his roles in films like ‘Sansar Simante’ and ‘Bhalobasa Bhalobasa’. His other popular films includes Raja, Ganadevata and Byapika Biday. Kolkata born actor also acted in TV Serials like Isthi Kutum, Jol Nupur and Andarmahal.

Daily GK Updates - 12th March, 2020

NATIONAL UPDATES:

1. AP Government launches Mobile App ‘Nigha’ to check malpractices in civic polls: Andhra Pradesh Chief Minister YS Jaganmohan Reddy has launched a mobile app called ‘Nigha’, to prevent the corrupt practices in upcoming local body elections in the state. The app would ensure ‘clean and healthy’ polls by curbing the use of money and alcohol. Any person can complain about the wrong practices by anyone during the campaign and his/her personal details and the identity would be kept secret.

Note: Chief Minister of Andhra Pradesh: Y. S. Jaganmohan Reddy; Governor of Andhra Pradesh: Biswa Bhushan Harichandan; Capital of Andhra Pradesh: Amaravati.

2. Main Event of International Day of Yoga (IDY) 2020 to be held in Leh, Ladakh: The International Day of Yoga event will be organized in the capital of Ladakh i.e. Leh on the occasion of International Day of Yoga. The International Day of Yoga is observed globally every year on 21st of June. On this day, Indian Prime Minister leads a mass demonstration of Yoga every year which also features a 45-minute yoga drill based on Common Yoga Protocol. The International Day of Yoga aims to aware the world about the various benefits of practicing yoga. In 2019, the event was held in Ranchi. The AYUSH Ministry is the nodal body to oversee the annual celebrations. The first International Day of Yoga was observed all over the world on June 21, 2015 at Rajpath in New Delhi.

3. ‘Fagli’ festival celebrated in Kinnaur district of Himachal Pradesh: The traditional ‘Fagli’ festival was celebrated in Yangpa village of Kinnaur district, Himachal Pradesh to observe the “victory of good over evil”. This festival is celebrated to mark the end of winter or the beginning of spring. It is celebrated in the entire valley on the moonless night or Amavasya.

Note: Chief Minister of Himachal Pradesh: Jai Ram Thakur; Governor of Himachal Pradesh: Bandaru Dattatraya.

4. Google India Launches ‘DigiPivot’ Skill Programme Designed for Women: Google India has introduced a skilling programme ‘DigiPivot’ designed for women to empower them with digital marketing knowledge and tools as well as mentorship on strategic leadership skills. The programme aims to provide an opportunity for 200 women professionals to re-skill themselves. DigiPivot is open to both women professionals who are currently working as well as those who are keen to return to the workforce with 4-10 years of experience in consulting, analytics, branding and sales and support with passion for digital marketing. The programme is completely sponsored by Google and has been developed jointly in association with Avtar, a career portal service for women, and the Indian School of Business, Hyderabad. Applications for registration are open from March 6 and the last date for registration is March 21. Selected participants will go through 18-week learning programme and engagement (both offline and online).

Note: Google CEO: Sundar Pichai; Headquarters: California, United States.

5. Biennial Civil Aviation Business Exhibition ‘Wings India 2020’ Begins in Hyderabad: The four-day civil aviation business exhibition and air show titled ‘Wings India 2020’ kick-started on 12 March 2020 at Begumpet airport, Hyderabad. It will continue till March 15. However, the programme will be formally inaugurated on 13 March 2020 by the Minister for Civil Aviation Hardeep Singh Puri. The theme of the biennial event is ‘flying for all’. The event has been organized by Federation of Indian Chambers of Commerce and Industry (FICCI) along with Ministry of Civil Aviation and Airports Authority of India (AAI). “Wings India 2020” is a civil aviation business exhibition and air show which is organized once in every two years. 

Note: Union Minister of Civil Aviation: Hardeep Singh Puri.

6. Maharashtra govt approves implementation of "happy hour" for autorickshaws: Maharashtra government has approved the implementation of "happy hour" for autorickshaws as recommended by Khatua panel. A government resolution states that fares will be slashed by 15 per cent between 12 noon and 4 pm. The decision will however not be applicable to local taxis and app-based taxis. The new concept will turn lean hours to happy hours, especially for housewives and senior citizens who normally don't have a fixed schedule for their outings.

INTERNATIONAL UPDATES:

1. WHO officially declares COVID-19 as a pandemic: The World Health Organization has officially declared COVID-19 as a pandemic as it spread freely to more than 100 countries around the world. According to WHO chief Tedros Adhanom Ghebreyesus, the number of cases and deaths are likely to rise in the coming days and weeks. UN chief Antonio Guterres has urged world governments to urgently scale up their response to the novel coronavirus if they are to stand a chance of stemming its spread. A pandemic is declared when a new disease for which people do not have immunity spreads around the world beyond expectations. COVID-19 is a disease caused by the novel coronavirus which originated in China.

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

2. Five Indians named in WEF’s Young Global Leaders list 2020: Geneva-based World Economic Forum (WEF) has released the list of members for the Forum of Young Global Leaders (YGL) for the year 2020. The 2020 list consists of 115 Young Global Leaders (YGLs) from various fields. The Forum of Young Global Leaders is dynamic global community of exceptional people, under the age of 40, with the vision, courage and influence to drive positive change in the world. The members are inducted in the forum for a five-year period. Five Indians have been included in the 2020 list of YGLs namely:

Byju Raveendran – Founder & CEO of Byju Classes’

Gaurav Gupta – Co-Founder of Zomato

Tara Singh Vachani – CEO of Antara Senior Living

Vinati Mutreja – Managing Director and CEO of Vinati Organics Limited)

Swapan Mehra – CEO of Iora Ecological Solutions

Note: Note: Headquarters of World Economic Forum: Cologny-Geneva, Switzerland; Founder of World Economic Forum: Klaus Schwab; President of World Economic Forum: Borge Brende; World Economic Forum founded: January 1971.

3. Singer Taylor Swift Named as Google’s most-searched for woman in music of 2020: The search engine Google honoured the women folk on the occasion of International Women’s Day on 8 March 2020 by sharing data for the most-searched women on the Internet in 2020 in the following 4 discipline: Music, Sports, Comedy, Novelists

Music – Singer Taylor Swift

Sports – Tennis player Serena Williams

Comedy – American actress Awkwafina

Novelists – American Novelist Toni Morrison

Note: Google CEO: Sundar Pichai; Headquarters: California, United States.

4. World Kidney Day: 12 March 2020: The World Kidney Day (WKD) is observed annually on the Second Thursday in March. In 2020, the World Kidney Day is being celebrated on 12 March 2020. The theme of WKD 2020 is ‘Kidney health for everyone everywhere– from prevention to detection and equitable access to care’. The day aims to raise global health awareness on the importance about conditions of the kidney and the impact of kidney disease and its associated health problems worldwide. WKD is a joint initiative of the International Society of Nephrology (ISN) and the International Federation of Kidney Foundations (IFKF).

OTHER UPDATES:

SPORTS

1. Pankaj Advani wins 34th National Snooker title: Ace Indian cueist Pankaj Advani clinched the National 6-Red Snooker Championship with a convincing 7-3 final over Maharashtra’s Ishpreet Singh in Ahmedabad.  It is overall 34th national title for Advani. In the women’s edition, Amee Kamani overcame Vidya Pillai 4-2 to win the title.

2. Mohun Bagan are the Hero I-League Champions 2019-2020: Indian football heavyweights Mohun Bagan clinched their second I-League title with a 1-0 win over Aizawl FC at Kalyani, West Bengal. Their first I-League title came in 2014-15 season. Bagan lifted the title even when four rounds are still to go in the season. With this win, Mohun Bagan has 39 points from 16 matches.

3. PCI puts national & state championships on hold till April 15: The Paralympic Committee of India has decided to put on hold all national and state championships till 15th April in the wake of the novel coronavirus outbreak. The PCI was scheduled to host national para-athletics championship in Mysore. National swimming championship was to be held also from 28th March 2020 in Bengaluru. Shooting World Cup and the Indian Open golf tournament were impacted due to COVID-19 both of which have been postponed for later this year.

4. Tiger Woods to be inducted into World Golf Hall of Fame in 2021 class: American golfer Tiger Woods (15 major titles winner) will be inducted into the World Golf Hall of Fame as part of the class of 2021. Woods was among 10 finalists named in March as candidates for 2021. His 93 worldwide victories include a record-tying 82 US PGA Tour titles. He won his 15th major title at the Masters last April, ending an 11-year major drought after career-threatening injuries. The 2021 class was chosen by Hall's selection committee, a 20-member panel.

5. Chennaiyin FC's Schembri to retire from professional football: Chennaiyin FC's Maltese forward Andre Schembri (33-years) announced he will retire from professional football after the Indian Super League final against ATK FC in Goa. He will be aiming to go out on a high, hopefully by helping CFC win its third ISL title. Schembri, the first Maltese player to feature in ISL, has been an integral part of Chennaiyin's success this season.

BANKING AND FINANCE

1. PhonePe partners with ICICI Bank for UPI Transactions: UPI App PhonePe which earlier partnered with YES Bank, for UPI, has now partnered with ICICI Bank for UPI transactions. This comes after YES Bank has been placed under moratorium by Reserve Bank of India due to which UPI transactions at PhonePe got disrupted.

Note: The parent organization of Phonepe: Flipkart; Phonepe founded: December 2015; CEO of Phonepe: Sameer Nigam; Headquarters location: Bengaluru, Karnataka.

2. SBI cuts fixed deposit rates, MCLRs in 2nd reduction in a month: State Bank of India has announced a reduction in its MCLR or marginal cost of funding-based lending rates by 10-15 basis points across tenors, and a cut in its fixed deposit interest rates. The SBI has reduced retail term deposits (less than Rs 2 crore) by 10 to 50 basis points for a few tenors. The new rates for home loans and fixed deposits will take effect from 10th March. The SBI also reduced bulk FD rates by 15 bps for deposits with tenors of 180 days and above.

BUSINESS AND ECONOMY

1. Japanese company Hakuhodo acquires AdGlobal360: Indian MarTech Company, AdGlobal360 has been acquired by Japanese company Hakuhodo Inc for an undisclosed sum. Adglobal360 is India’s fastest growing MarTech Company headquartered in Gurugram, Haryana. The MarTech Company facilitates its customers with end to end digital solutions.

Note: CEO of AdGlobal360: Rakesh Yadav.

President of Hakuhodo International: Nobuaki Kondo.

AWARDS AND HONOURS

1. Maharaja Ranjit Singh named greatest world leader in BBC Poll: Maharaja Ranjit Singh has been named as the “Greatest Leader of All Time” in a poll conducted by ‘BBC World Histories Magazine’. He was the 19th-century ruler of the Sikh Empire in India. Singh’s name was nominated by Lockwood, who is an assistant professor of history at the University of Alabama, as a modernising and uniting force, whose reign “marked a golden age for Punjab and north-west India”.

DEFENCE

1. ITBP chief SS Deswal given additional charge of BSF DG: Senior IPS officer Surjit Singh Deswal (1984-batch Haryana cadre) took over the additional charge of Director General (DG) of Border Security Force (BSF). Currently, Mr. Deswal is the Director-General of Indo-Tibet Border Police. He has succeeded Director-General Vivek Johri, who has been appointed Director-General of Madhya Pradesh Police.

2. Lt Gen Dhillon appointed Defence Intel Agency chief: Former 15 Corps Commander, Lt Gen KJS Dhillon, has been appointed as the Director-General, Defence Intelligence Agency (DIA) and Deputy Chief of Integrated Defence Staff (Intelligence) under the Chief of Defence Staff. He will replace Lt Gen AS Bedi who assumed the appointment in February 2018. DIA and DCIDS is a department that comes under the Chief of Defence Staff in the newly created Department of Military Affairs. DIA and DCIDS are responsible for collating technical as well as human intelligence for the three armed forces.

Note: 28th Chief of Army Staff: General Manoj Mukund Naravane; Chief of Defence Staff: Bipin Rawat; Headquarters of Indian Army: New Delhi.

Daily GK Updates - 11th March, 2020

NATIONAL UPDATES:

1. New Delhi hosts National Conference on Women in Police and CAPFs: Union Minister for Women and Child Development Smriti Zubin Irani has inaugurated the “National Conference on Women in Police and CAPFs (Central Armed Police Forces)”. The national conference was held in New Delhi and was organized by the Bureau of Police Research and Development (BPR & D). During the conference, a hand-out- ‘BPR & D Mirror- Gender Bender’ and a book titled “To Greater Heights” was also released by Smriti Irani.

2. GoI constitutes committee to decide modalities of Kisan Rail: The Union Government of India has constituted a committee to decide modalities of Kisan Rail. This committee has been formed under the Ministry of Agriculture and Farmers Welfare along with representatives of the Indian Railways. “Kisan Rail” is planned to be set up through the public-private-partnership (PPP) mode and will facilitate a cold supply chain to transport the perishable goods. It was proposed by Union Finance Minister Nirmala Sitharaman during her budget speech of 2020-21 to set up a seamless National Cold Supply Chain for perishables like fish, milk and meat.

Note: Union Minister of Railways: Piyush Goyal.

Union Minister of Agriculture & Farmers Welfare: Narendra Singh Tomar.

3. Andhra Pradesh ranked 1st in overall implementation of Poshan Abhiyan: Andhra Pradesh has been ranked 1st in the country for the overall implementation of Prime Minister’s Overreaching Scheme for Holistic Nourishment (POSHAN) Abhiyaan. The above ranking was released in a NITI Aayog’s report named as “Transforming Nutrition in India: POSHAN Abhiyaan”. The 2nd anniversary of POSHAN Abhiyaan is being recognized by celebrating Poshan Pakhwada from 8th-22nd March 2020. Tamil Nadu has topped the list of the states in terms of the number of participants in the programme.

Note: Chief Minister of Andhra Pradesh: Y. S. Jaganmohan Reddy; Governor: Biswa Bhushan Harichandan; Capital: Amaravati.

4. Gujarat ranks 1st in domestic solar rooftop installations: Gujarat has topped the list for domestic solar rooftop installations with 64% of domestic solar installations. Nearly 50,915 systems being fixed on domestic rooftops in the State to achieve renewable power generation goals as on March 2, 2020. The State government of Gujarat has adopted a solar rooftop scheme “Surya Gujarat” to cover about eight lakh domestic electricity consumers under the scheme by 2022. Maharashtra stands on the second position with 5,513 installations as on the same date.

Note: Chief Minister of Gujarat: Vijay Rupani; Governor: Acharya Dev Vrat.

5. Govt suspends e-visa and existing visa's for France, Germany, Spain: The Union government has asked people to refrain from travelling to China, Italy, Iran, South Korea, Japan, France, Spain and Germany. The Health Ministry advised them to avoid non-essential travel abroad. All passengers having travel history to China, Hong Kong, South Korea, Japan, Italy, Thailand, Singapore, Iran, Malaysia, France, Spain and Germany are advised to undergo self-imposed quarantine for a period of 14 days from the date of their arrival.

6. Government Sets-up High level committee to prepare investigation manual for SFIO: The Ministry of Corporate Affairs (MCA) has set up a 12-member high level committee to prepare an investigation manual for probe agency Serious Fraud Investigation Office (SFIO). The panel would be chaired by Corporate Affairs Secretary Injeti Srinivas. The Serious Fraud Investigation Office (SFIO) probes white-collar crimes such as wage theft, fraud, bribery, Ponzi schemes, insider trading, labor racketeering, embezzlement, cybercrime, copyright infringement, money laundering, identity theft, and forgery. The committee shall be responsible to devise a standard operating procedures and methodologies for the investigating officers for carrying out effective investigations in tune with provisions of relevant Acts.

7. CISF celebrated 51st raising day on 10th March: Central Industrial Security Force (CISF) celebrated the 51st raising day on 10 March. The day was celebrated by CISF personnel and their families. On this day, the CISF was set up under an Act of the Parliament of India with a strength of 2,800 forces in 1969. CISF was subsequently made an armed force of the Republic of India by another Act of Parliament passed on 15 June 1983.

8. Culture Minister inaugurates an exhibition 'Jallianwala Bagh' in New Delhi: Culture  Minister Prahlad Singh Patel has inaugurated an exhibition titled 'Jallianwala Bagh' in New Delhi on 130th Foundation Day of National Archives of India (NAI). The exhibition is an endeavour to commemorate the centenary of the Jallianwala Bagh Massacre covering a period from 1915 to 1950. The present exhibition is primarily presented with the help of original and digital copies of archival documents relating to the Jallianwala Bagh Massacre.

Note: Chief Minister of Delhi: Arvind Kejriwal; Lieutenant Governor: Anil Baijal.

9. Naveen Patnaik releases book titled “The Adventures of the Daredevil Democrat”: A comic book titled “The Adventures of the Daredevil Democrat’ has been released by the chief minister of Odisha Naveen Patnaik on the occasion of the 104th birth anniversary of former Odisha CM Late Biju Patnaik in Bhubaneswar, Odisha. The book is prepared by Kalinga Basis Belief and printed by New Delhi-based the Inventive Workshop, chronicles Biju’s childhood, his bicycle journey from Cuttack to Peshawar, his daredevilry as a pilot, his Kashmir mission function, his contribution for contemporary Odisha and Indian politics.

INTERNATIONAL UPDATES:

1. “COVID-19 Therapeutics Accelerator” fund launched: “COVID-19 Therapeutics Accelerator” is a new fund which has been launched by the Bill & Melinda Gates Foundation, Wellcome and Mastercard. The $125 Million fund has been launched to accelerate technologies to fight against the COVID-19 epidemic and has been designed to identify, assess, develop and scale treatments to the COVID-19 disease outbreak. The fund aims to assess new and repurposed drugs and biologics to cure patients suffering from COVID-19 in the immediate term, and also capable of curing other viral pathogens in the future.

2. India remains second-largest arms importer in 2019: As per news report by Stockholm International Peace Research Institute, India retains its position as the second-largest arms importer in the world followed by Saudi Arabia. The SIPRI report shows how Russia gradually lost the lucrative Indian arms market over the years, though the communist country remains a key supplier. On the other hand, China accounted for 51% of Pakistan’s arms imports in 2010-14 and for 73% in 2015-19. Pakistan was ranked at 11th position.

3. Joy Bangla to be national slogan of Bangladesh: The two-judge bench of High Court of Bangladesh has ordered that ‘Joy Bangla’ will be the national slogan of Bangladesh. The court also directed the authorities to ensure that teachers and students use the slogan after assembly. The government has been asked to submit the compliance report to the court within three months. ‘Joy Bangla’ was the main slogan during the liberation war of Bangladesh fought against Pakistan in 1971.

OTHER UPDATES:

SPORTS

1. PV Sindhu wins BBC Indian Sportswoman of Year Award: PV Sindhu has won the inaugural edition of BBC Indian Sportswoman of the Year Award for 2019. She was conferred the award during the BBC award ceremony held in New Delhi. She was nominated for the award along with four other contenders namely para-badminton player Manasi Joshi, boxer Mary Kom, sprinter Dutee Chand and wrestler Vinesh Phogat. BBC has also conferred former Indian sprinter PT Usha with the Lifetime Achievement award. She has been awarded for her contribution to Indian sports.

2. Mahim Verma to resign from BCCI VP: Mahim Verma will resign from the vice-president post of the Board of Control for Cricket in India (BCCI). Earlier, Mr.  Verma elected as the Uttarakhand Cricket Association (UCA) secretary. Mr. Verma was appointed as the BCCI's vice-president on October 23 last year.

AWARDS AND HONOURS

1. V Praveen Rao wins MS Swaminathan Award for the period 2017-2019: Telangana Agricultural University Vice-Chancellor V Praveen Rao has won the 7th Dr MS Swaminathan Award. He has won the award for the period 2017-2019. He has been awarded for his contributions in the fields of agricultural research, teaching, extension and administration. Praveen Rao handled 13 research & 6 consultancy projects on micro-irrigation in India, Israel and South Africa. This biennial national award was constituted by Retired ICAR Employees Association (RICAREA) and Nuziveedu Seeds Limited (NSL). It carries a prize of Rs. 2 lakh and a citation.

DEFENCE

1. Nupur Kulshrestha becomes 1st woman DIG of Indian Coast Guard: Nupur Kulshrestha becomes the first woman to be promoted as Deputy Inspector General (DIG) of Indian Coast Guard. She joined Indian Coast Guard in 1999. The Indian Coast Guard is a multi-mission organization, conducting round-the-year real-life operations at sea and works in close coordination with the Indian Navy, the Department of Fisheries, the Department of Revenue (Customs) and the Central and State police forces.

Note: Director-General of Indian Coast Guard: Krishnaswamy Natarajan; Headquarters of Indian Coast Guard: New Delhi.

OBITUARIES

1. Swedish actor Max von Sydow passes away: Max von Sydow, the Swedish actor who was nominated for two Oscars during his career passed away. The actor featured in various films and TV series. Max Von Sydow was nominated for Oscars as best actor in 1988 for Pelle the Conqueror. He was also nominated for Academy awards in the category of best supporting actor for his role in movie “Extremely Loud & Incredibly Close”.

Daily GK Updates - 10th March, 2020

NATIONAL UPDATES:

1. Government Reconstitutes National Platform for Disaster Risk Reduction (NPDRR) Under the Chairmanship of Amit Shah: The government has reconstituted the National Platform for Disaster Risk Reduction (NPDRR). The Union Home Minister Amit Shah is the chairperson of this NPDRR, which is a multi-stakeholder and multi-sectoral decision making body on disaster management.

Other Members of NPDRR: Members- Defence Minister Rajnath Singh and Finance Minister Nirmala Sitharaman, External Affairs Minister S Jaishankar, Agriculture Minister Narendra Singh Tomar, HRD Minister Ramesh Pokhriyal ‘Nishank’, Health Minister Harsh Vardhan, Housing and Urban Affairs Minister Hardeep Singh Puri. Minister of each state government and union territory dealing with disaster management, a member of the state disaster management authority, mayors of Delhi, Mumbai, Kolkata, Chennai, Bangalore and Hyderabad, and municipal commissioners of these cities Vice-Chairpersons- Minister of state in-charge of disaster management in the home ministry and the vice-chairman of the National Disaster Management Authority. Ex-officio members- Ten chairpersons of urban local bodies, to be nominated by the urban development ministry, 10 representatives of Panchayat Raj Institutions, to be nominated by the panchayat raj ministry, four Lok Sabha members, two Rajya Sabha members, and the Union home secretary and secretaries of departments concerned.

Functions of the NPDRR: Review the progress made in the field of disaster management from time to time. Appraise the extent and manner in which the disaster management policy has been implemented by the central and state governments, and other agencies concerned, Advise on coordination between the central and state governments.

2. Tamil Nadu tops in Poshan Abhiyan’s participants list:  The Central Government is implementing the flagship programme Poshan Abhiyan for improving the nutritional status of Indian citizens. This programme helps children, adolescents, pregnant women, and lactating mothers by leveraging technology. The importance of being given to the programme is evident from the fact that as many as 14 Central Departments and all the State Governments are being involved in the programme. Tamil Nadu tops the list of the states in terms of the number of participants in the programme. The Integrated Child Development Scheme has been in force for long in the southern state that has got rejuvenated with the Centre’s Poshan Abhiyaan mission. The programme is revitalizing India by reaching out to the children and mothers across the nation.

Note: Poshan Abhiyan is a government mission to ensure the nutrition of children, women, and pregnant mothers in impoverished areas.

Chief Minister of Tamil Nadu: Edappadi K Palanisamy; Governor: Banwarilal Purohit

3. Sanitary pad disposal bags to be made mandatory from Jan 2021: According to Union Environment Minister Prakash Javadekar, The Union Government has decided to make sanitary napkin disposal bags mandatory from January 2021. He has stated that Sanitary napkin makers will be asked to supply a biodegradable bag with each napkin from January 2021. He said cleanliness norms in force in municipal areas will now be applicable to villages having a population of more than 3,000.

Note: Prakash Javadekar is present Union Minister of Environment, Forest and Climate Change, Union Minister of Information & Broadcasting and Heavy Industries & Public Enterprises.

4. ‘COVA Punjab’ mobile app launched by Punjab Govt.: Chief Secretary of Punjab, Karan Avtar Singh has launched a mobile application, COVA Punjab. COVA stands for Corona Virus Alert. This app has been developed by the Department of Government Reforms and Public Grievances in consultation with the Health and Family Welfare Department to spread awareness by sharing various travel and preventive care advisories.

Note: Chief Minister of Punjab: Captain Amarinder Singh; Governor: VP Singh Badnore

5. India plans to launch Chandrayaan-3 by first half of 2021: According to the Minister of State in the Prime Minister’s Office, Jitendra Singh, a possible schedule for the launch of Chandrayaan-3 is planned to be implemented in the first half of 2021. The preparation of Chandrayaan-3 has been done by taking lessons from the previously launched Chandrayaan-2, a Moon mission which was launched in 2019, in which the Indian Space and Research Organisation (ISRO)’s Vikram Lander lost contact following a hard landing on the Moon’s surface. Chandrayaan-3 will be designed to increase design, capacity with a cost of around Rs 610 crore, including Rs 360 crore for the launch rocket.

Note: Headquarters of ISRO: Bengaluru,Karnataka; Chairman of ISRO: K. Sivan; ISRO established: 15 August 1969.

INTERNATIONAL UPDATES:

1. India Gets Observer Status in Indian Ocean Commission: India has been admitted to the Indian Ocean Commission (IOC) as an observer state. This makes India, the fifth nation to receive Observer status in IOC. The other four observers are China, Malta, European Union and International Organisation of La Francophonie (OIF). With this move, India would lead to greater security cooperation with countries in East Africa. It facilitates collective engagement of India with the islands in Western Indian Ocean (WIO). It also boosts Indian cooperation with France that has strong presence in the WIO and lends depth to India’s SAGAR (Security and Growth for All in the Region) policy of PM Narendra Modi 2015.

Note: Established in 1982, IOC is an inter-governmental organization that coordinates maritime governance in the south-western Indian Ocean. The IOC is composed of five African Indian Ocean nations namely: Comoros, Madagascar, Mauritius, Réunion (an overseas region of France), and Seychelles. Secretary General– Hamada Madi

2. Ashraf Ghani Takes Oath as President of Afghanistan for Second Term: Afghanistan’s incumbent President Ashraf Ghani took oath of the post for a second term on 9 March 2020. He was elected for the first term on 21 September 2014.

Note: Capital of Afghanistan: Kabul, Currency: Afghan afghani

OTHER UPDATES:

SPORTS

1. Manpreet Singh and Rani Rampal bags Player of the Year Award 2019 at Hockey India 3rd Annual Awards: Indian hockey players Manpreet Singh and Rani Rampal claimed the Dhruv Batra Player of the Year Award 2019 for Men and Women respectively during the 3rd Annual Hockey India Awards 2019 in New Delhi on 8 March 2020. Harbinder Singh won the prestigious Hockey India Major Dhyan Chand Lifetime Achievement Award 2019. List of Winners:

Hockey India Dhruv Batra Player of the Year (Male): Manpreet Singh

Hockey India Dhruv Batra Player of the Year (Female): Rani Rampal

Hockey India Major Dhyan Chand Lifetime Achievement Award: Harbinder Singh

Hockey India Jugraj Singh Award for Upcoming Player of the Year (Men – Under 21) 2019: Vivek Sagar Prasad

Hockey India Asunta Lakra Award for Upcoming Player of the Year (Women – Under 21) 2019: Lalremsiami

Hockey India Ajit Pal Singh Award for Midfielder of the Year 2019: Mandeep Singh

Hockey India Pargat Singh Award for Defender of the Year 2019: Harmanpreet Singh

Hockey India Baljit SIngh Award for Goalkeeper of the Year 2019: Krishan B Pathak

Hockey India Jaman Lal Sharma Award for Invaluable Contribution 2019: Sports Authority of India

Hockey India Presidents Award for Outstanding Achievement 2019: Government of Odisha

BANKING AND FINANCE

1. Moody’s Slashes India’s growth projection for 2020 to 5.3%: The ratings agency Moody’s Investors Service has revised the growth projections for India to 5.3% in 2020 from earlier prediction of 5.4% , in its latest Global Macro Outlook, as a result of the Covid-19 outbreak. On 17 February, Moody’s had reduced India’s growth projection from 6.6% to 5.4% for 2020. It has also revised the 2020 baseline growth forecasts for all G-20 economies and expects these countries, to grow by 2.1% in 2020, 0.3 percentage point lower than our previous forecast. It must be noted that OECD had slashed India’s growth forecast for 2020-21 by 110 basis points to 5.1%.

BUSINESS AND ECONOMY

1. Mahindra-Ford venture set to name Anurag Mehrotra as Chief Executive: The Managing Director of Ford India, Anurag Mehrotra was appointed as the Chief Executive officer for the new joint venture formed by Mahindra and Ford with effect from April 1, 2020. This joint venture is formed to develop and sell Ford branded cars in India and other emerging markets. The joint venture created is valued at $275 million (Rs 1,925 crore).  Mahindra will own the controlling stakes of 51 per cent, while Ford will own 49 percent stakes in the new company.

Other appointments: Pankaj Sonalkar will be the chief operating officer of the Joint Venture; Sachin Arolkar will take charge of the finances and Abhimanyu Sen will take charge of Human Resources.