Daily GK Updates - 25th May, 2020

NATIONAL UPDATES:

1. Andhra Pradesh government releases 1st tranche of “ReStart Package”:   Andhra Pradesh government has released the 1st tranche of “ReStart Package” to help the lockdown-hit Micro, Small and Medium Enterprises (MSMEs) to reopen and become functional. The first tranche is of Rs 450 crore which will be used in clearing the pending industrial incentives that would benefit nearly 98,000 units. Under the “ReStart Package”, government will waive of all the minimum power demand charges of MSMEs of the months of April, May and June, and will provide input capital of Rs 200 crore to the firms at low-interest rates in order to bring the MSMEs back on rails. This will be done by providing loans in partnership with the Small industrial Development Bank of India at a low-interest rate. The 2nd tranche will be made on 29 June 2020.

Note: Chief Minister of Andhra Pradesh: YS Jagan Mohan Reddy; Governor: Biswa Bhusan Harichandan.

2. Defence Minister Rajnath Singh Participated in "SIDM MSME Conclave 2020": Defence Minister Rajnath Singh participated in MSMEs E-conclave, “Society of Indian Defence Manufacturers (SIDM) MSME Conclave 2020“. The SIDM MSME Conclave 2020 was jointly organized by the Society of Indian Defence Manufacturers (SIDM), Confederation of Indian Industry (CII) and the Department of Defence Production. The Theme of the E-conclave is ‘Business Continuity for MSMEs in Defence & Aerospace Sector’

More than 800 Defence MSMEs participated in it.

3. Chhattisgarh govt to observe May 25 as ‘Jhiram Tribute Diwas’: The state government of Chhattisgarh will observe May 25, 2020 as ‘Jhiram Shraddhanjali Diwas’ or ‘Jhiram Tribute Diwas’. Naxals had attacked a convoy of Congress leaders during the party’s rally in Jhiram valley on May 25, 2013. In this attack, 29 people were killed including then state Congress chief Nand Kumar Patel, former leader of opposition Mahendra Karma and former Union minister Vidyacharan Shukla. The day will be observed to pay tribute to Congress leaders who were killed in a Maoist attack in Jhiram Valley.

4. ICMR Revised Advisory on the use Of Hydroxychloroquine: The Indian Council of Medical Research has revised its advisory on the use of HCQ (Hydroxychloroquine).  According to the new advisory, the HCQ is only permitted and should only be given on the prescription of a registered medical practitioner. Three new categories has been included to whom HCQ shall be prescribed as prophylactic treatment which are: Asymptomatic Health care workers, Asymptomatic frontline workers employed in containment zones, Paramilitary and police personnel.

5. ‘Hunar Haat’ to make comeback in September with theme ‘Local to Global’:  ‘Hunar Haat’ a platform for artisans/craftsmen which helps them to generate employment, will return in September with a ‘Local to Global’ theme after an over five-month gap due to the coronavirus pandemic. It is an initiative by the Minority Affairs Ministry. Minority Affairs Minister Mukhtar Abbas Naqvi said that ‘Hunar Haat’ had provided employment and employment opportunities to more than five lakh Indian artisans, craftspeople, culinary experts in the last five years and had become popular among the people. Hunar Haat is known for Empowerment Exchange of artisans and craftsmen from across the country providing employment to more than 5 lakh. “Jaan Bhi, Jahaan Bhi” pavilion will be created for health awareness with theme Say no to panic yes to precautions. Its product will also be launched digitally from now using GeM platform.

6. BSI discovered 3 new plant species of Western Ghats: Botanical Survey of India (BSI) has discovered 3 new plant species from the evergreen forest patches of the Western Ghats in Kerala and Tamil Nadu. The new species are Eugenia sphaerocarpa of Rose apple family; Goniothalamus sericeus of custard apple and Memecylon nervosum of Kaasavu family. The species has shown purplish-blue flowers and mauve to purplish red fruits and can be characterized as small trees or shrubs.

7. CBIC sanctioned GST refund claims of Rs 11,052 crore: The Central Board of Indirect Taxes (CBIC) has sanctioned Rs 11,052 crore GST refund claims in last 47 days. The step was taken to ensure liquidity for GST taxpayers by Finance Ministry. All the pending GST and custom refunds will be issued benefiting around 1 lakh business entities including MSMEs. CBIC is the nodal national agency responsible for administering Customs, GST, Central Excise, Service Tax & Narcotics in India with headquarter at New Delhi.

8. National Skills Development Corp. will create platform for Skilled Workers: The National Skills Development Corp. along with an artificial intelligence company is working on a new platform to map skilled and certified workers. The skilled management information system aims to create a local ecosystem in every region to minimise the need to depend on migrants. The platform will map details of skilled professionals by region, as well as demand across industries, using artificial intelligence-based solutions.

INTERNATIONAL UPDATES:

1. International Missing Children’s Day: 25th May: Every year, 25 May is observed as International Missing Children’s Day (IMCD) around the world to commemorate the missing children who have found their way home, remember those who have been victims of crime, and continue efforts to find those who are still missing. The symbol for IMCD is the forget-me-not flower.  The day was proclaimed in 1983, by U.S. President Ronald Reagan. The first IMCD was observed in 2001 through the joint efforts of the International Centre for Missing and Exploited Children (ICMEC), Missing Children Europe, and the European Commission.

2. World Thyroid Day: 25th May: The World Thyroid Day is celebrated every year on May 25 to promote awareness and understanding of thyroid health and the advances made in treating thyroid diseases. The World Thyroid Day was established in 2008 by the European Thyroid Association and the American Thyroid Association.

OTHER UPDATES:

SPORTS

1. 2,749 Khelo India athletes given Rs 30,000 each: SAI: Sports Authority of India (SAI) has deposited 30,000 rupees each as out of pocket allowance in accounts of 2,749 Khelo India athletes. A total of 2,893 athletes will be given the pocket allowance with the funds for the remaining 144 athletes to be transferred by the end of this month. Athletes from 35 states and UT have been given the allowances in 21 sporting disciplines with the maximum number of them from Maharashtra (386), Haryana (381), Delhi (225), Punjab (202).

BANKING AND FINANCE

1. ICICI Bank introduces special FD scheme for senior citizens with higher interest: The Private sector ICICI bank has introduced a special fixed deposit (FD) scheme for senior citizens called ‘ICICI Bank Golden Years FD’ which offers an interest rate of 6.55% per annum(p.a) for deposits up to Rs 2 crores with a tenure of more than 5 years(5 years and 1 day ) to 10 years. It is applicable for resident Indians & is available from May 20 to September 30, 2020.

BUSINESS AND ECONOMY

1. Fintech startup Zaggle Joins Hand with Visa for innovative payments solutions for SMEs and Startups: India-based Fintech startup Zaggle has partnered with payments technology major Visa to launch innovative payment solutions for SMEs and startups in the country. Under this partnership, both the companies will jointly create solutions for small and medium enterprises (SMEs) and startups to improve productivity, efficiency, automate processes, and reduce costs, access to faster credit through a unique card, which would have both inbuilt forex and prepaid. Zaggle will leverage Visa’s expertise in the payments space to co-create and build new solutions for SMEs. Visa will also support Zaggle for new technological innovations and ideas. Zaggle is all set to launch ''Founders Card'' (credit card) soon. It has also announced free Zaggle SAVE Do-it-Yourself AI Powered Solution for SMEs.

OBITUARIES

1. Australian tennis player Ashley Cooper passes away: Australian tennis player Ashley Cooper passed away at the age of 83 years. Ashley Cooper won the Australian championship, Wimbledon and U.S. Nationals in 1958. He is one of only 11 men to claim three Grand Slam crowns in a calendar year. Cooper had won all four of his Grand Slam crowns by beating compatriots in the final. His career concluded in 1959 after suffering from a back injury.

2. Former TN footballer and coach Shanmugam passes away: Former Tamil Nadu football player and coach R Shanmugam passed away at the age of 77 years due to age-related issues. Shanmugam, who was born in Burma (now Myanmar) in 1943, had represented the Burmese junior and senior national teams in 1966-’67. He coached ICF, Tamil Nadu and Indian Railways in the Santosh trophy and also served as selector for Tamil Nadu and Railways.

Daily GK Updates - 24th May, 2020

NATIONAL UPDATES:

1. MoHFW constitutes committee to reform Drug Regulatory System: The Ministry of Health and Family Welfare (MoHFW) has constituted a committee to reform the Drug Regulatory System. The committee comprises of 11 members including the senior health officials, scientists and representatives of the pharmaceutical industry and is headed by Rajesh Bhushan. It has been tasked to examine the current drug regulatory system and to give recommendations for reforms in order to bring the system more efficient and to streamline it with global standards.

Note: Union Minister of Health and Family Welfare: Harsh Vardhan.

2. India becomes world’s 2nd largest manufacturer of PPE body coveralls: India has become the second-largest producer of Personal Protection Equipment (PPE) kits in the world, only behind China. PPE is important for frontline warriors to safeguard against the COVID-19 pandemic. A PPE kit basically consists of shoe cover, gloves, eye shield, mask, and gown. The Ministry of Textile has taken several steps to ensure both quality and quantity of PPE coveralls, to help India rise from zero to second largest in the world, within a very short span of time of two months. The ministry is also taking steps to ensure that only certified players across the entire supply chain are allowed to supply body coveralls to governments.

Note: Minister of Health and Family Welfare: Harsh Vardhan

3. Uttarakhand releases report on conservation of plant species: Uttarakhand has become the 1st state to release report on conservation efforts of endemic and threatened floras. ‘Ashwagandha’, ‘Giloy, Kalmegh, Sanjeevani, Brahmkamal, Thuner and ‘Chitrak’ herbs are the part of the report. As per the report, 1,145 plant species have been conserved covering 46 species that are endemic to Uttarakhand and 68 rare, endangered, or threatened species under red list of the IUCN. The report is one of the largest repositories of conserved plants.

4. Jahnabi Phookan takes charge as FICCI FLO National President: Assam-based entrepreneur Jahnabi Phookan has been appointed as the new National President of FICCI Ladies Organization (FLO) on 22 May 2020. She took over from outgoing National President Harjinder Kaur Talwar. FICCI FLO represents over 8000 women entrepreneurs and professionals across 17 chapters nationally and works aggressively towards promoting economic empowerment and equal opportunities for women. FICCI FLO is the women wing of the leading industry chamber, Federation of Indian Chambers of Commerce and Industry (FICCI).

Note: Phookan is the 37th National President of FICCI FLO

5. Govt extends validity of vehicle documents till July 31: The Union government has extended the validity of various motor vehicles related documents until 31st July 2020. No additional or late fee will be charged for delays invalidation of documents pending from February 1. Earlier, The ministry has issued an advisory on March 30, 2020, to all regarding extension of validity of the documents related to Motor Vehicles Act, 1988 and Central Motor Vehicle Rules, 1989.

6. Ladakh Police comes into existence, LG approves new insignia of Police: After the formation of Union Territory of Ladakh, separate Ladakh Police has come into being. Now, Police in Leh and Kargil districts will be called 'Ladakh police'. Ladakh Police will have its new symbols, insignia, formation sign and flag with a separate identity. LP in symmetric design and Juniper leaves (incense offered on religious occasions) covering the Ashoka and LP.  Ladakh police flag with 'Khidmat aur Himmat' reads service and courage is ready to fly high.

7. Government notifies BS-VI emission norms for quadricycles: The Ministry of Road Transport and Highways has notified BS-VI emission norms for quadricycles, paving the way for higher production of the new category of vehicle that was introduced less than two years ago. The emission norms are on the lines of the European Union’s World Motorcycle Test Cycle (WMTC). A quadricycle cannot be more than 3.6 metres long, should have an engine smaller than 800cc, and should not weigh more than 475 kgs.

8. UP govt to set up a commission for employment of migrant labourers: The Uttar Pradesh government has decided to set up a Migration Commission for the employment of migrant labourers(Over 23 lakh returned) in the state. The commission has been proposed to look into various factors associated with migrant workers' rights and to prevent exploitation while providing an official framework to ensure socio-economic-legal support for them. The chief minister Mr Yogi also suggested that a scheme be launched to ensure their job security.

9. ‘Break the Chain’ cartoon campaign inaugurated by Kerala: Kerala Health Minister K K Shailaja has inaugurated the Kerala Cartoon Academy’s ‘Break the Chain’ campaign. Well-known cartoonists participated in the event and painted cartoons on walls to spread awareness amongst people about the campaign. In the first phase, 14 cities in 14 districts are selected to complete cartoon drawings. In the next phase, it will be extended to 28 cities.

10. Lok Sabha Passed Mineral Law Amendment Bill: Lok Sabha has passed the Mineral Laws (Amendment) Bill, 2020 which aims to amend Mines and Minerals (Development and Regulation) Act, 1957 along with Coal Mines (Special Provisions) Act, 2015. Commercial mining will completely be open up in the coal sector by this bill and it also intends to remove end-use restrictions to participate in coal mine auction.

INTERNATIONAL UPDATES:

1. Abhas Jha appointed as World Bank’s Practice Manager for Climate Change: World Bank has appointed Indian economist Abhas Jha as its Practice Manager for Climate Change and Disaster Risk Management for South Asia. He will be looking after nurturing, leading, and inspiring professionals for best solutions in South Asian countries. He will also ensure to connect and unite the region with Global practices for Disaster Risk Management and Climate Change. Abhas Jha joined World Bank in 2001 and has been working for South Asia since then.

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

2. Microsoft stopped online sale of Huawei laptops after US ban on Chinese tech companies: Microsoft has removed the Huawei laptops it sold on its online store. The move of Microsoft is to comply with the US President’s executive order to crack down on Chinese tech companies. Google cut off Huawei’s Android license but Microsoft stayed silent on whether it will prevent the Chinese company from obtaining Windows licenses. For now, Huawei has been granted a 90-day extension to provide software updates to Android-powered handsets and maintain continued operation of existing networks and equipment.

Note: Huawei CEO: Ren Zhengfei; Headquarters: Shenzhen, China

OTHER UPDATES:

SPORTS

1. Spanish football player Aritz Aduriz announces retirement: Spanish football player and Athletic Bilbao striker Aritz Aduriz has announced his retirement citing medical reasons. He has won 13 caps for Spain and also become the Spain’s oldest goalscorer in 2016, scoring at the age of 35 years and 275 days. He has scored 141 goals in 296 appearances for Bilbao and has also represented Real Valladolid, Real Mallorca and Valencia.

2. Mizoram Cabinet grants “Industry” status to Sports:  The Mizoram Cabinet has granted “industry” status to “sports” to invest more in sports in order to generate employment and increase value. Giving the industry status to sports would also ensure sustainability, proper registration as well as management of sports. With this move, the sports and its infrastructure will be eligible to avail the facility of subsidy, loan and assistance from the private and government sources. Mizoram is known for its love for sports, especially football which is played competitively through the Mizoram Premier League, the state’s highest football league.

Note: Chief Minister of Mizoram: Pu Zoramthanga; Governor: P.S. Sreedharan Pillai.

BUSINESS AND ECONOMY

1. Samsung India partners Facebook to enable offline retailers go digital: Samsung India has partnered with social media giant Facebook to train offline retailers to go digital. In the first phase, Samsung and Facebook have already trained more than 800 offline retailers, with more training sessions lined up in the coming weeks. The major focus of this training programme is on enabling offline retailers build a digital presence through the Facebook family of apps — Facebook, Messenger, Instagram and WhatsApp.

2. Maruti Suzuki ties up with Cholamandalam Investment & Finance; launches ‘Buy-Now-Pay-Later Offer’: The country’s largest carmaker Maruti Suzuki India announced partnership with Cholamandalam Investment & Finance Company Ltd to provide customised auto retail financing solutions to retail buyers. The new solution ‘Buy-Now-Pay-Later Offer’ is aimed to provide customers with easy financing options.

3. Patanjali launches e-commerce app ‘OrderMe’: Swami Ramdev’s Patanjali Ayurveda Limited has launched its e-commerce app named “OrderMe”. The name of the app represents the spiritual word ‘OM’ (O for Order and M for Me). OrderMe will limit its delivery and endorsing to swadeshi products.

OBITUARIES

1. Indian hockey legend Balbir Singh Dosanjh passes away: Former Indian hockey player Balbir Singh Dosanjh who was a part of three-time Olympic gold medal-winning Indian hockey team, i.e. in London Olympics (1948), Helsinki Olympics (1952), and Melbourne Olympics (1956), passed away. Balbir Singh Dosanjh was the only Indian among 16 legends who were chosen by the International Olympic Committee across modern Olympic history. He has also an unbeaten record of scoring most goals by an individual in the men’s hockey final of the Olympics, under his name.

2. Japanese professional wrestler Hana Kimura passes away: Japanese professional wrestler, Hana Kimura, passed away at the age of 22 years. The cause of the death is unknown. She has also starred in the latest season of Netflix reality series “Terrace House”. Kimura won her first title at the Japan Pro-Wrestling (JWP) Junior plate in 2016 and joined Stardom in 2019.

Daily GK Updates - 23rd May, 2020

NATIONAL UPDATES:

1. Important Cabinet Approvals: Following are the various approvals related to national level schemes made during the meeting of Union Cabinet, chaired by the Prime Minister Shri Narendra Modi on 20 May 2020.

(1) Modification in existing Partial Credit Guarantee Scheme (PCGS): approved Sovereign portfolio guarantee of up to 20% of first loss to Public Sector Banks (PSBs) for purchase of Bonds or Commercial Papers (CPs) with a rating of AA and below (including unrated paper with original/ initial maturity of up to one year) issued by NBFCs/ MFCs/Micro Finance Institutions (MFIs).

(2) Scheme for Formalisation of Micro food processing Enterprises (FME): It is a Centrally Sponsored Scheme for the Unorganized Sector on All India basis with an outlay of Rs.10,000 crore, to be shared by GOI and the States in ratio of 60:40.

(3) Pradhan Mantri Vaya Vandana Yojana (PMVVY): extended for further period of three years up to 31st March, 2023. The assured rate of return will be 7.40 % per annum for the year 2020-21 per annum and thereafter to be reset every year.

(4) Pradhan Mantri Matsya Sampada Yojana (PMMSY): Scheme to bring Blue Revolution through sustainable and responsible development of fisheries sector in India. Total investment– Rs. 20,050 crore, to be implemented during a period of 5 years from FY 2020-21 to FY 2024-25.

(5) Atma Nirbhar Bharat Package: Allocation of foodgrains from Central Pool to approximately 8 crore migrants / stranded migrants @ 5 kg per person per month (May and June, 2020) for two months free of cost.

(7) Special Liquidity Scheme for Non-Banking Financial Companies (NBFCs) and Housing Finance Companies (HFCs) to improve liquidity position of the NBFCs/HFCs.

(8) Emergency Credit Line Guarantee Scheme: Total corpus of Rs. 41,600 crore. It will enable additional funding of up to Rs. three lakh crore to eligible MSMEs and interested MUDRA borrowers. 100% guarantee coverage to be provided by National Credit Guarantee Trustee Company Limited (NCGTC).

(9) Issuance of the Jammu & Kashmir Reorganisation (Adaptation of State Laws) Second Order, 2020 in relation of Jammu & Kashmir Civil Services (Decentralisation and Recruitment) Act

2. India Launches Five initiatives to share its best practices and experiences in conserving biodiversity with the rest of the world: The Union Minister of Environment, Forest and Climate Change, Shri Prakash Javadekar virtually launched five key initiatives towards conservation of biodiversity on the occasion of International Day for Biological Diversity on 22 May 2020. These include:

(1) National Biodiversity Authority (NBA) and United Nations Development Programme (UNDP) ‘Biodiversity Samrakshan Internship Programme which proposes to engage 20 students with postgraduate degrees for a period of one year through an open, transparent, online competitive process.

(2) Launch of UNEP Campaign on Illegal Trafficking of Endangered Species: ‘Not all Animals Migrate by Choice’.

(3) A Webinar Series on ‘Biodiversity Conservation and Biological Diversity Act, 2002’

(4) WWF Model Conference of Parties (MCoP), to involve the younger generation so they engage in conversations around impact of humanity’s footprint on biodiversity.

(5) An awareness campaign supported by WWF to highlight the crucial role played by nature through its free ecological services provided for humankind.

3. Defence Ministry approves procurement of 26 defence items from local suppliers: The Department of Defence Production (DDP), Ministry of Defence in an attempt to further encourage procurement from local suppliers to boost ‘Make in India’, has given approval to 26 defense items out of 127 already notified clause 3(a) of the Public Procurement ( Preference to Make in India) order 2017. The government will make individual budgetary provisions for procuring Indian made defense equipment to help reduce the defense import bills & boost the Make In India scheme.

Note: Defense Minister: Rajnath Singh; Minister of State for Defence: Shripad Yesso Naik

4. CBSE launches cyber security handbook for students: Central Board of Secondary Education, CBSE has recently launched a Cyber Safety Handbook for the students of Classes 9 and 11 to ensure healthy digital habits in students. The handbook discussed topics such as digital security, digital rights and responsibilities and digital law. The three handbooks names are: ‘Cyber safety- A handbook for students’; ‘In pursuit of Excellence’ and ‘21st Century skills’. The handbook comes in the wake of the novel coronavirus outbreak and the subsequent nationwide lockdown that has forced many schools to move their teaching online.

5. Govt amends General Financial Rules to ensure procurement of goods & services below Rs 200 crore from domestic firms: The government has notified amendments to General Financial Rules (GFR) 2017 to ensure that goods and services valued less than Rs 200 crore are procured from domestic firms. This will give big boost to domestic suppliers, especially micro, small and medium enterprises (MSMEs). The amendments will ensure that henceforth global tenders will be disallowed in government procurement up to Rs 200 crore, as announced in the Aatma Nirbhar Bharat Package.

6. India’s KHUDOL declared one of Top 10 Global Initiatives to fight COVID-19: The United Nations listed the KHUDOL initiative of Manipur as one of the top 10 global initiatives to fight against COVID-19. Khudol is a crowdfunded initiative of Ya_All, an Imphal-based NGO that had created India’s first transgender football team. Under the initiative, the NGO provides food, hygiene and health of LGBTQ community, daily wage workers, people with AIDS. The organization mobilized network of 100 volunteers. Through the volunteers the organization distributed 1000 health kits, 1500 condoms and 6500 sanitary pads. The initiative entails ensuring food, health and hygiene of the LGBTQI+ community, people living with HIV, daily-wage earners, children and adolescents.

INTERNATIONAL UPDATES:

1. World Bank to rescue with $160-billion aid to 100 nations: The Covid-19 pandemic is expected to put over 60 million people into extreme poverty globally, the World Bank has said as it announced emergency operations worth $160 billion in 100 developing countries to fight the deadly virus. Of the 100 countries, home to 70 per cent of the world’s population, 39 are in Sub-Saharan Africa. Nearly one-third of the total projects are in fragile and conflict-affected situations, such as Afghanistan, Chad, Haiti, and Niger

Note: Headquarters: Washington, D.C., United States; President: David Malpass

2. USA withdraws from Open Skies treaty: The Treaty on Open Skies was signed in 2002 and recently US President Donald Trump has announced that the USA is to withdraw from Open Skies treaty accusing that Russia has not stuck to its part of the deal. This is the third international arms pact inline from which the US has pulled out since Donald Trump become President.

3. World Turtle Day: 23rd May: The World Turtle Day is observed on May 23 every year to raise awareness among people to protect turtles and tortoises and their disappearing habitats around the world. The day is being celebrated since 2000 by American Tortoise Rescue, a nonprofit organization established in 1990 for the protection of all species of tortoise and turtle.

4. International Day to End Obstetric Fistula: 23rd May: The International Day to End Obstetric Fistula (IDEOF) is observed every year on 23rd May by the United Nations (UN). The day is being observed to significantly raise awareness and intensify actions towards ending obstetric fistula, as well as urging post-surgery follow-up and tracking of fistula patients. The theme for International Day to End Obstetric Fistula 2020 is “End gender inequality! End health inequities! End Fistula now!”. In 2003, the United Nations Population Fund (UNPF), and its partners had launched a global campaign to End Obstetric Fistula.

Note: Secretary-General of United Nations: António Guterres.

OTHER UPDATES:

SPORTS

1. Naomi Osaka becomes world’s highest-paid female athlete: Japanese tennis star Naomi Osaka has become the highest paid female athlete in the world, topping American great Serena Williams. According to the Forbes magazine, Osaka earned $37.4 million in the last 12 months from prize money and endorsements, $1.4 million more than Williams, setting an all-time earnings record for a female athlete in a single year.

BANKING AND FINANCE

1. IRDAI allows Union Bank of India to continue 30% holding in IndiaFirst Life Insurance: Insurance Regulatory and Development Authority of India (IRDAI) has allowed Union Bank of India’s proposal to continue with its 30 prcent holding in IndiaFirst Life Insurance with the condition that the lender will hold no control in the management of the insurer. Earlier, the bank was expected to divest either the entire stake in IndiaFirst Life Insurance, or a considerable part of it, as IRDAI guidelines restrict a lender to own more than 10 percent stake in two insurance companies. The state-owned lender also holds 25.1 percent stake in Star Union Dai-Chi Life and it received a promoter stake in IndiaFirst Life Insurance in April previously held by Andhra Bank following its ‘mega’ merger on April 1 with Andhra Bank and Corporation Bank.

Note: About IRDAI: Founded: 1999; Headquarters: Hyderabad; Chairperson: Subhash Chandra Khuntia

BUSINESS AND ECONOMY

1. Flipkart partners Vishal Mega Mart for home delivery of essentials: Walmart-owned Flipkart said it has partnered with retail store chain, Vishal Mega Mart for home delivery of essential items in 26 cities in the country, including Delhi-NCR, Bengaluru and Kolkata. Under the partnership, consumers will be able to order products from over 365 Vishal Mega Mart stores and get them delivered at their doorstep by Flipkart. Consumers can order essential products like flour, rice, oil, pulses, beverages and other items from various brands as well as Vishal’s own labels.

AWARDS AND HONOURS

1. Bengaluru doctor Hema Divakar gets “Global Asian award”: Bengaluru-based medical doctor Hema Divakar was honoured with the ‘Global Asian of the Year 2018-19’ award in Dubai recently for her yeomen services and contributions to the women’s healthcare ecosystem, in India, said its organiser ‘Asia One’ magazine’s publisher. Hema received the award at the Asian Business & Social Forum 2019 under the ‘In Service of the Society and the Nation’ category from UAE’s Trade Promotion Director Mohammed Naser Hamdan Al Zaabi.

OBITUARIES

1. Renowned vocalist Shyamala G Bhave passes away: Renowned vocalist Shyamala G Bhave, who had an equal command over Hindustani and Carnatic style of music, has passed away. She was 79. She was bestowed with the title of “Ubhaya Gaana Vidushi (expert in both styles)” by Sir M Visvesvaraya, the 19th Diwan of Mysore. 

Daily GK Updates - 22nd May, 2020

NATIONAL UPDATES:

1. Government launches scheme to solarise Konark sun temple & Konark town: A scheme has been launched by the central governemnt for complete solarization of Konark Sun Temple and Konark town in Odisha to develop the historical Sun Temple town of Konark as Surya Nagri. As a part of scheme, 10 Mega Watt grid connected solar project along with various solar off-grid applications such as solar trees and solar drinking water kiosks would be set up in the area. For the execution of project, Government of India will provide a 100% Central Financial Assistance (CFA) support of around Rs 25 Crores through Ministry of New & Renewable Energy.

Note: Chief Minister of Odisha: Naveen Patnaik; Governor: Ganeshi Lal.

Ministers of State for New and Renewable Energy: Raj Kumar Singh.

2. Uttar Pradesh governement rolls out ‘UP Start-up Fund’: Uttar Pradesh government has set up ‘UP Start-up Fund’ to support the registered start-up ventures present across different verticals in Uttar Pradesh. An MoU has been signed between the Uttar Pradesh government and the Small Industries Development Bank of India, and the fund will be managed by SIDBI. Initial contribution of Rs 15 crore has been made to the fund. This fund will take part in Securities and Exchange Board of India (SEBI) approved Alternative Investment Funds and would not be invested directly into start-ups.

Note: Chief Minister of Uttar Pradesh: Yogi Aditya Nath; Governor: Anandiben Patel.

3. IGNOU’s “Online Master’s Programme in Hindi” launched by HRD Minister: Union HRD Minister Shri Ramesh Pokhriyal ‘Nishank’ has launched the IGNOU’s Online Master’s Programme in Hindi via Facebook Live session. This programme is expected to strengthen “Padhe India Online” initiative. The programmer is launched to focus on Hindi language role in India and other countries. IGNOU has also launched various other programmes namely: MA in Gandhi and Peace Studies, BA in Tourism Studies, certificate course in Arabic, certificate in information technology, certificate programme in Library and Information Science. It will go live on IGNOU’s Gyan Darshan TV Channel, Gyan Dhara, and Facebook page.

Note: Union Minister of Human Resources Development: Ramesh Pokhriyal ‘Nishank’.

4. NTPC & ONGC partners to set up JVC for Renewable Energy Business: A Memorandum of Understanding (MoU) has been signed by NTPC Limited, and Oil and Natural Gas Corporation Limited (ONGC) to form a Joint Venture Company for Renewable Energy business. This partnership will enable both the companies to accelerate their mark in the field of Renewable Energy as the two companies will explore the setting up of offshore wind and other Renewable Energy Projects in India as well as overseas. This tie-up will increase NTPC’s Renewable Energy capacity addition program and also the presence of ONGC in the Renewable Power business.

Note: Chairman & Managing Director of NTPC Limited: Gurdeep Singh.

Chairman & Managing Director of Oil and Natural Gas Corporation Limited: Shashi Shanker.

5. “Rajiv Gandhi Kisaan Nyay Yojana” launched in Chhattisgarh:  Chhattisgarh government has launched “Rajiv Gandhi Kisan Nyay Yojana”, a farmer centered scheme that aims to stimulate the rural economy in the state, amid the COVID-19 pandemic. Under the Rajiv Gandhi Kisan Nyay Yojana, Rs 10,000 per acre will be deposited in the bank accounts of farmers (based on registered area and area under cultivation, during Kharif crop season 2019), as agriculture assistance grant for sowing crops such as paddy, maize and sugarcane. The state government had allocated Rs 5,756 crore in the budget 2020-21, for the scheme. The amount will be given to the farmers in four instalments and at least 19 lakh farmers will benefit from the scheme. The scheme was jointly launched by Congress Chief Sonia Gandhi and Chhattisgarh Chief Minister Bhupesh Baghel on 21 May 2020, to mark the death anniversary of former Prime Minister Rajiv Gandhi.

Note: Governor: Anusuiya Uikey.

6. Mysore, Indore, Surat among 6 cities declared as ‘5-star garbage-free cities’: The Union Minister of Housing and Urban Affairs, Hardeep Singh Puri announced results of garbage-free star rating of cities. The garbage-free star rating initiative was launched under the Swachh Bharat Mission to achieve the goal garbage-free nation. A city can be declared as “Garbage Free” if it complies with the conditions as prescribed under this protocol. The star rating is based on 25 key parameters and ranges from 1 star, 3 star, 5 star and 7 star.

Ambikapur (Chhattisgarh), Rajkot, Surat, Mysore, Indore and Navi Mumbai have got the ‘5-star garbage-free cities’ rating. Karnal, New Delhi, Tirupati, Vijayawada, Chandigarh, Bhilai Nagar, Ahmedabad are among ‘three-star garbage free rating. The cities with one star garbage free ratings include: Andhra Pradesh: GVMC Visakhapatnam, Sattenapalli, Chiralla, Palamaneru; Chattisgarh: Berla, Baramkela, Chikhalakasa, Katghora, Pakhanjur; New Delhi: Delhi Cantt; Haryana: Rohtak; Madhya Pradesh: Gwalior, Bandawar, Sardarpur, Maheshwar, Hathod, Khandwa, Shahganj; Uttar Pradesh: Noida, Gajraula, Ghaziabad, Aligarh, Lucknow, Jhansi

INTERNATIONAL UPDATES:

1. Airtel Africa & UNICEF partners to support children & families affected by COVID-19: UNICEF and Airtel Africa has partnered to support children & families affected by COVID-19. The partnership aims to provide children with access to remote learning and enable access to cash assistance for their families through mobile cash transfers. Airtel Africa will zero-rate the selected websites which are hosting educational content and will provide children with remote access to digital content at no cost. The partnership will benefit the children and families in 13 countries in sub-Saharan Africa namely: Zambia, Congo, Nigeria, Gabon, Kenya, Madagascar, Malawi, Niger, Rwanda, Tanzania, Democratic Republic of the Congo, Uganda and Chad.

Note: Chief Executive Officer of Airtel Africa: Raghunath Mandava.

Executive Director of UNICEF: Henrietta H. Fore; Headquarter of UNICEF: New York, US.

2. Union Minister Harsh Vardhan to Take Charge As Chairman of WHO Executive Board: The Union Minister of Health and Family Welfare, Harsh Vardhan, will take charge as the Chairman of the World Health Organization (WHO) Executive Board on May 22, 2020, at the Executive Board meeting of WHO. Mr Vardhan would succeed Dr Hiroki Nakatani of Japan as the Chairman of the 34-member WHO Executive Board. The chairman’s post is held by rotation for one year among regional groups.

Note: WHO is a UN body responsible for international public health that consist of two bodies: World Health Assembly and Executive Board. India is a member state of WHO’s South East Asia Region.

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

3. International Day for Biological Diversity: 22th May: International for Biological Diversity (IDB) is observed every year on May 22 to raise awareness about the issue of significant reduction in biological diversity due to certain human activities. Theme for International Day for Biological Diversity 2020 is “Our solutions are in nature”. This day was earlier declared to be observed on 29 December by UN General Assembly in 1993. However, UN General Assembly in 2000 declared 22 May as IDB to commemorate adoption of Nairobi Final Act on Biological Diversity Convention.

Note: Secretary-General of United Nations: António Guterres.

4. CSIRO develops ‘heat resistant’ corals to fight bleaching: Researchers from CSIRO, Australia's national science agency, Australian Institute of Marine Science (AIMS) and the University of Melbourne has successfully developed a potential agent helping coral reefs to increase their heat tolerance. The agent built using ‘directed evolution’ will manipulate the microalgae, which is a key factor in the coral's heat tolerance. This came in the wake of threat over coral reefs due to global warming.

OTHER UPDATES:

BANKING AND FINANCE

1. RBI reduces Repo Rate by 40 bps to 4.0% in Monetary Policy Committee (MPC) Meet May 20 to 22, 2020: The Reserve Bank of India in its Monetary Policy Committee (MPC) meeting on May 22, 2020 has decided to:

Reduce Repo Rate by 40 bps to 4.00% from 4.40% earlier.

Reverse Repo rate is adjusted to 3.35% from 3.75%.

Marginal Standing Facility (MSF) rate is also reduced from 4.65% to 4.25%.

Bank Rate stands at 4.25%.

Terms and conditions of the extant MSF scheme has no changes as per the monetary policy.

2. FM exempts B2B firms from using only electronic payment modes: Finance Ministry exempted B2B transactions companies having more than Rs 50 crore turnover from using only electronic payment modes like RuPay or BHIM-UPI. The provision of paying only through online mode was inserted by Government by section 269U in the finance act, 2019. The step is taken by Central Board of Direct Taxes (CBDT), a statutory authority under the Department of Revenue in the Ministry of Finance.

3. Franklin MF ropes in Kotak Mahindra Bank to wind-up 6 schemes: In April 2020, Franklin Templeton Mutual Fund company had closed 6 of its debt schemes in consultation with SEBI. SEBI had advised it to bring in an independent advisor on board ahead of the unitholders’ vote on the winding-up process. In compliance with it, Franklin Templeton MF has appointed Kotak Mahindra Bank to expedite the process of monetizing the assets in the portfolios of the six wound-up schemes and make payouts to the affected investors.

BUSINESS AND ECONOMY

1. “iTurmeric Fincloud” platform launched by Intellect Design Arena :  “iTurmeric FinCloud” is a cloud-ready, API-first, microservices-based platform which has been launched by the Intellect Design Arena Ltd, a full spectrum banking and insurance products company. This platform has been launched through IBM public cloud and enable the new digital banks’ systems to be tested and run in isolation or in parallel with core legacy systems. The platform comprises of various facilities such as retail banking, lending, origination, and corporate banking API.

Note: Chairman & Managing Director of Intellect Design Arena Limited: Arun Jain.

2. Facebook Launches Shopping Platform ‘Facebook Shops’ for Small Businesses: Facebook has announced the launch of a new feature, ‘Facebook Shops’, on its platform as an important tool for small businesses to create online stores on Facebook and Instagram. The new service was launched by Facebook CEO Mark Zuckerberg. Facebook Shops will allow businesses to sell their product both on Facebook and Instagram by setting up storefronts on the apps. The new initiative will bring more local businesses online and help them to survive amid the coronavirus pandemic, while also creating big new business opportunities for Facebook itself.

Daily GK Updates - 21st May, 2020

NATIONAL UPDATES:

1. Didi Vehicle Service Launched in Jhabua district of Madhya Pradesh by Rural Livelihood Mission for safe delivery of rural women: In the tribal-dominated Jhabua district of Madhya Pradesh, the women of Rural Livelihood Mission have started an initiative called ‘Didi Vehicle Service’ for pregnant rural women for the safe delivery, at a time of COVID-19 outbreak. The service has been launched for 29 villages of 10 Gram Panchayats of Petlavad development block of Jhabua. The service is completely free and the women will bear the expenses of Didi vehicle service through the interest, they earn on their savings. The vehicle under the “Didi Vehicle Service” will also be available for other emergency services.

Note: Chief Minister of Madhya Pradesh: Shivraj Singh Chouhan; Governor: Lal Ji Tandon.

2. Maharashtra launches ‘Mee Annapurna’ programme: ‘Mee Annapurna’ initiative has been launched in Maharashtra by an IRDA licensed insurance intermediary “Integrated Risk Insurance”. This initiative has been launched by Integrated Risk Insurance as a part of its commitment as a Corporate Social Responsibility towards the welfare of the farmers and agriculture community in Maharashtra. Under the scheme, 1500 marginalized and small farmers will be provided free of-cost skill-based training across 35 districts in Maharashtra providing sustainable livelihood by engaging them in crop cutting experiments and audits. The programme revolves around 3 aspects: Expertise, Engagement and Entitlement.

Note: Chief Minister of Maharashtra: Uddhav Thackeray; Governor: Bhagat Singh Koshyari.

3. Dilip Oommen appointed as the new President of Indian Steel Association (ISA): Dilip Oommen, has been sworn in as the new President of the Indian Steel Association (ISA) on 19 May 2020 for a period of two years till May 2022. He will replace Tata Steel CEO TV Narendran, who stepped down as President on May 1. Oommen is a veteran of the steel industry with more than 37 years of experience and an alumnus of Indian Institute of Technology, Kharagpur (IIT-K).

Note: Indian Steel Association Headquarters: New Delhi; Indian Steel Association Established: 2014.

4. National Anti Terrorism Day: 21th May: In India, the National Anti Terrorism Day is observed on May 21 to commemorate the death anniversary of former Prime Minister of India, Rajiv Gandhi. The day is also observed to spread the message of peace, harmony, and humankind and to promote unity among the people. Rajiv Gandhi was India’s youngest Prime Minister. He was appointed as the sixth Prime Minister of the country and served the nation from 1984 to 1989. He was killed in Tamil Nadu in a campaign by the Tamil Tigers Eelam (LTTE) a terrorist group on May 21, 1991 by a human bomb.

5. J&K launches ‘SUKOON’ initiative to beat COVID-19 stress: Jammu & Kashmir’s Department of Information and Public Relations has launched programme ‘SUKOON: COVID-19 Beat the Stress’. The programme is launched to spread awareness about psychological impact of lockdown and its measures. It will be telecasted on Doordarshan Kashmir Channel at 9 PM every Tuesday. Eminent doctors, psychiatrists and scientists will be chairing the show sharing their knowledge of stress management.

Note: Lieutenant Governor Jammu and Kashmir: Girish Chandra Murmu.

6. Pradhan Mantri Matsya Sampada Yojana launched: Pradhan Mantri Matsya Sampada Yojana (PMMSY) has been approved by the cabinet with an investment of Rs 20,000 crore. The yojana aims to bring about Blue Revolution through sustainable and responsible development of fishery sector. Central share will be 9,407 crore rupees, State share of Rs. 4,880 crore and beneficiaries' share of Rs 5,763 crore. It will be implemented for 5 years (2020-21 to 2024-25) creating employment with other facilities boosting fishery in India.

7. DGDE & eGov Foundation partners for Online Management of Cantonment Boards: The Directorate General Defence Estates (DGDE), Ministry of Defence and eGov Foundation has inked an Memorandum of Understanding (MoU) for Online Management of Cantonment Boards. Both entities will work together to drive e-governance and enhance citizen services across all cantonment boards in the country. These services will be delivered under a cloud-based platform DIGIT (Digital Infrastructure for Governance, Impact & Transformation) under e-Chhawani program. It will consist of Dashboards, Web Portals, Trade License, Fire NoC system, Public Grievance Redressal System, Property Tax, and Water & Sewerage Charges.

Note: Chief Executive Officer of eGov Foundation: Viraj Tyagi.

Director General Defence Estates: Smt Deepa Bajwa.

INTERNATIONAL UPDATES:

1. World Bank names American Economist Carmen Reinhart as its Chief Economist: American economist and Harvard University Professor, Carmen M. Reinhart, has been named as the new Vice President and Chief Economist of the World Bank on 20 May 2020. Her appointment will be effective from June 15, 2020. She replaces Pinelopi Goldberg, who left on March 1 after only 15 months on the job. She was a Senior Policy Advisor and Deputy Director at the IMF and Vice President and Chief Economist of the investment bank Bear Stearns

Note: WB Headquarter: Washington, D.C., US.

2. World Metrology Day: 20th May:  World Metrology Day is observed globally on 20th May every year. Many nations on this day internationally collaborate to create awareness about metrology and its advancement in the respective field. This year theme for World Metrology Day: ‘Measurements for global trade’. This theme was chosen to create awareness of the important role measurement plays in facilitating fair global trade, ensuring products meet standards and regulations, and satisfying customer quality expectations.

Note: International Organization of Legal Metrology Headquarters: Paris, France; International Organization of Legal Metrology Founded: 1955.

3. International Tea Day: 21th May: The International Tea Day is observed annually on May 21 by United Nations Food and Agriculture Organization (FAO) to raise awareness of the deep cultural and economic significance of tea around the world and promote its importance in fighting hunger and poverty. Tea producing countries make a lot of profit but the condition of the labourers working in the tea plantations is very bad. Therefore, the purpose of International Tea Day is to encourage the status of tea workers, workers’ rights, daily wages, social security, employment security, and health. The day was adopted by United Nations on December 21, 2019.

Note: Food and Agriculture Organization Director-General: QU Dongyu; Food and Agriculture Organization Headquarters: Rome, Italy; Food and Agriculture Organization Founded: 16 October 1945.

4. World Day for Cultural Diversity for Dialogue and Development: 21th May: The World Day for Cultural Diversity for Dialogue and Development is held every year on May 21 to celebrate the richness of the world’s cultures and highlight the significance of its diversity as an agent of inclusion and positive change for achieving peace and sustainable development. In 2001, UNESCO adopted the Universal Declaration on Cultural Diversity and in December 2002, the UN General Assembly declared May 21 to be the World Day for Cultural Diversity for Dialogue and Development.

Note: Director-General of UNESCO: Audrey Azoulay; UNESCO formation: 4 November 1946; UNESCO headquarters: Paris, France.

5. Health Minister participated in NAM health Minister’s meet: Harsh Vardhan (Union Minister of Health & Family Welfare) participated in the Non-Aligned Movement (NAM) Health Ministers’ meeting through video conference. The Health Minister’s meeting was chaired by Mr. Ogtay Shiraliyev, Minister of Health, Republic of Azerbaijan. The meeting was organized to share the concern of COVID-19 pandemic and its proper preparedness, prevention, resilience-building, and greater national, regional and international collaboration.

OTHER UPDATES:

SPORTS

1. NADA provisionally suspends powerlifters Savita Kumari & Ankit Shishodia: Two Indian Powerlifters namely Savita Kumari & Ankit Shishodia have been provisionally suspended by the National Anti Doping Agency (NADA). The powerlifters have been provisionally suspended for violating the anti-doping rules.

Note: Director General of National Anti Doping Agency: Navin Agarwal.

The National Anti-Doping Agency is an independent Anti-Doping Organization for India having a vision of dope free sports with headquarters at New Delhi.

BANKING AND FINANCE

1. Govinda Rajulu Chintala appointed as chairman of NABARD: The Appointments Committee of the Union Cabinet has appointed Govinda Rajulu Chintala as the Chairman of National Bank for Agriculture and Rural Development (NABARD). He is presently serving as the Chief General Manager at NABARD and will remain on the post till his superannuation in July 2022. Presently, Dr. Harsh Kumar Bhanwala is serving as the Chairman of NABARD. Apart from him, Shaji KV (General Manager of Canara Bank) and P V S Suryakumar have been appointed as deputy managing directors in the NABARD.

Note: Headquarter of NABARD: Mumbai.

2. Government Notifies Cut in EPF Contribution to 10% Three Months till July 2020: The Ministry of Labour & Employment has announced a cut in the rate of employees’ provident fund (EPF) contributions to 10 percent from the existing 12 percent, for three months till July 2020. This means that the new rate would be applicable on May-June-July salary period. The existing rate of contribution by both employee and employer is 12%. The decision is estimated to infuse liquidity of Rs 6,750 crore in next three months. This reduction of the EPF contributions will be applicable for those workers who are not eligible for 24 percent EPF support under PM Garib Kalyan Package and its extension. However, the Central Public Sector Enterprises (CPSEs) and public sector undertakings (PSUs) will continue to contribute 12 percent.

BUSINESS AND ECONOMY

1. Flipkart partners with Bajaj Allianz to offer digital, hassle-free motor insurance: India’s homegrown e-commerce marketplace Flipkart and Bajaj Allianz General Insurance Company, India’s leading private general insurer have partnered to offer a digital motor insurance policy to Flipkart customers. The interested consumers can avail the motor-insurance policy on the Flipkart app. Benefits of the motor insurance include:

(1) For 4 Wheeler: MOTOR OTS (Motor On the Spot): Motor OTS allows consumers to self-inspect their vehicle in case of an accidental damage; Zero Depreciation; 4000+ Network Garages; 24×7 Roadside Assistance

(2) For 2 Wheeler: Instant Support: Round the clock assistance and instant resolution of customer queries through SMS, toll-free number, WhatsApp Service, Missed Call Facility, chat bot BOING; Hassle Free Renewal; Transfer of NO-CLAIM BONUS: NCB – a unique feature wherein consumers get a reward for every claim-free year. Consumers can transfer up to 50% the NCB from their previous policy when they switch insurers.