Daily GK Updates - 2nd July, 2020

NATIONAL UPDATES:

1. Giriraj Singh launches the 1st Edition of 'Matsya Sampada' newsletter: Union Minister for Fisheries, Animal Husbandry and Dairying, Giriraj Singh has launched the 1st Edition newsletter “Matsya Sampada” fisheries and aquaculture published by the Department of Fisheries and the operational guidelines of Pradhan Mantri Matsya Sampada Yojana (PMMSY). The Newsletter “MATSYA SAMPADA” is an outcome of the endeavours of the Department of Fisheries to reach out to the stakeholders especially fishers and fish farmers through various means of communication, and toinform and educate them about the latest developments in the fisheries and aquaculture sector.  It would be published on a quarterly basis starting from the first quarter of the year 2020-21.

Note: Minister of State in the Ministry of Animal Husbandry, Dairying and Fisheries: Sanjeev Kumar Balyan.

2. Kerala to Implement ‘Dream Kerala Project’ for expats who lost jobs due to coronavirus: The state government of Kerala has decided to roll out a ‘Dream Kerala Project’ to help and tap the potential and experience of people returning from abroad and other states after losing their jobs due to the Covid-19 pandemic. While on one hand, the project will help the professionals to get suitable job opportunity and ensure a stable income for the returning expatriates, on the other hand it will help to harness their potential for the future of the state.

Note: Chief Minister of Kerala: Pinarayi Vijayan; Governor of Kerala: Arif Mohammad Khan; Capital of Kerala: Thiruvananthapuram.

3. Goa Govt Allocates 14,380 sqm land to set up India first Maritime Cluster: The Government of Goa has allotted over 14,380 square metres of land at Verna industrial estate to ‘Konkan Maritime Cluster’ (Goa Maritime Cluster), a consortium of 49 Goan MSME units, to set up its Common Facility Centre. The Goa Maritime Cluster will be the first Maritime Cluster of India, providing a world-class common facility for manufacturing, design and other allied services for the shipbuilding industry. The project is likely to extend direct benefits to another 180 units. The project is supported by the Government of Goa, Ministry of Shipping GoI, through Directorate General of Shipping, and Ministry of Micro, Small and Medium Enterprises. The Goa Government will contribute 10% of the total setup cost.

4. K K Venugopal & Tushar Mehta re-appointed as Attorney General and Solicitor General of India respectively: President of India has re-appointed senior advocate Shri K K Venugopal as the Attorney General for India for a period of one year with effect from 01 July 2020. The present three-year term of Venugopal, 89, ended on 30 June 2020. Venugopal took over as the Attorney General on June 30, 2017, succeeding Mukul Rohatgi. Meanwhile, the Appointments Committee of the Cabinet has also reappointed senior advocate Tushar Mehta as Solicitor General of India with effect from July 1 for a period of three years or until further orders. Suryaprakash V Raju of Gujarat High Court has been appointed as the Additional Solicitor General (ASG) of the Supreme Court (India). ACC has also appointed Chetan Sharma as the Additional Solicitor General (ASG) for Delhi High Court.

5. Shrikant Madhav Vaidya takes charge as IOC Chairman: Shrikant Madhav Vaidya has taken over as the new chairman of Indian Oil Corporation (IOC) on 01 July 2020. Prior to this, Vaidya was the Director (Refineries) on the IOC Board, since October 2019. He will also serve as the Chairman of Chennai Petroleum Corporation. He succeeds Sanjiv Singh, who has superannuated from the services of the Corporation on June 30, 2020.

Note: Indian Oil Corporation Headquarters: New Delhi; Indian Oil Corporation established: 1959.

6. Shri Ravinder Bhakar takes charge as CEO of Central Board of Films Certification (CBFC): Shri Ravinder Bhakar, a 1999 batch officer of Indian Railway Stores Service (IRSS), has taken over as the Chief Executive Officer (CEO) of Central Board of Films Certification (CBFC). Prior to this, Mr. Bhakar was posted as the Secretary & Chief Public Relations Officer of Western Railways. He succeeds Anurag Srivastava. CBFC is a statutory film-certification body in the Ministry of Information and Broadcasting of the Government of India.

Note: Headquarters of Central Board of Films Certification: Mumbai, Maharashtra; Chairperson of Central Board of Films Certification: Prasoon Josh.

7. IIT Gandhinagar develops AI based tool to detect Covid-19:  Indian Institute of Technology Gandhinagar (IITGN) has developed an Artificial Intelligence (AI)-based deep learning tool for detection of Covid-19 from Chest X-ray images. This online tool indicates the probability if a person is infected with Covid-19, which can be used for quick preliminary diagnosis before the medical test.

Note: IIT-Gandhinagar Director: Sudhir Jain.

INTERNATIONAL UPDATES:

1. Pakistan Army appoints Nigar Johar as 1st female Lt. General: Pakistan Army has appointed Major General Nigar Johar as 1st female lieutenant general. She is the 1st female officer to be promoted as Lieutenant General. The officer has been appointed as 1st female Surgeon General of Pak Army. Johar graduated from the Army Medical College, Rawalpindi, in 1985 and joined the army’s Medical Corps. In 2017, she became the third woman officer in the Pakistan Army to attain the rank of major general. The other two women major generals were Shahida Badsha and Shahida Malik.

Note: Prime Minister of Pakistan: Imran Khan; President of Pakistan: Arif Alvi; Capital of Pakistan: Islamabad.

2. New Zealand cancels the APEC Summit 2021: New Zealand has cancelled the Asia-Pacific Economic Cooperation (APEC) Summit 2021, due to the COVID-19 pandemic. This summit was to be held in Auckland, New Zealand. The 2019 leaders’ meeting was cancelled by Chile due to violent anti-government protests and the virtual APEC meeting of 2020 is being hosted by Malaysia. Deputy Prime Minister of New Zealand, Winston Peters announced that for planning and security reasons the 2021 APEC summit is cancelled and the summit will be hosted as a virtual event. New Zealand has closed its borders of every nation except for the returning citizens and residents.

Note: Executive Director of APEC: Dr Rebecca Fatima Sta Maria; Headquarters of APEC: Singapore; Established of APEC: 1989.

3. World UFO Day: 02nd July: The World UFO Day (WUD) is held on July 2 every year globally. It is a day dedicated to the existence of Unidentified Flying Objects (UFO) by World UFO Day Organization (WUFODO). WUD aims to raise awareness about the existence of UFOs and encouraging people to think about the possibility of us not being alone in the Universe. Initially, the day was observed on June 24. Later, WUFODO established July 2 to commemorate the day.

4. World Sports Journalists Day: 02nd July: World Sports Journalists Day is observed on July 2 every year to celebrate the services of sports journalists for the promotion of sports & to encourage them to do better at their work. The day was established in 1994 to commemorate 70th anniversary of International Sports Press Association (ISPA). The ISPA was founded in London on the July 2, 1924 during the Summer Olympics in Paris. This year 2020 marks the 96th anniversary of AIPS.

Note: AIPS of Headquarters: Lausanne, Switzerland; AIPS of President: Gianni Merlo.

OTHER UPDATES:

SPORTS

1. Shashank Manohar steps down as ICC chairman after serving two terms: International Cricket Council (ICC) Chairman Shashank Manohar has formally stepped down from the post on 1 July 2020, after heading the sport’s global governing body for four years. Singapore’s Imran Khwaja has been appointed as interim chairman until the finalisation of the next chairman. He has served twice as the chairman of the International Cricket Council from November 2015 to March 2017 and on 24 March 2017; a resolution was passed to reinstate him as the chairman until a successor was elected.

Note: Chief Executive Officer of ICC: Manu Sahney; Headquarters of ICC: Dubai, United Arab Emirates.

2. HRD along with Sports Minister to launch 'Fit India Talks': HRD Minister Ramesh Pokhriyal and Sports Minister Kiren Rijiju held interactive session titled Fit India Talks. It is launched under Govt's flagship program Fit India with some top sports persons like PV Sindhu and Sunil Chhetri to inspire the school children. Leading sports persons will share their childhood experiences, stories of their failures, struggles and their success from common school students to world-class champions. Slogan: Fit Hai to Hit Hai India.

BANKING AND FINANCE

1. HDFC Bank Unveils ‘e-Kisaan Dhan’ app for farmers: HDFC Bank has launched a mobile app named ‘e-Kisaan Dhan’ for farmers across India as a one stop solution to provide them access to a range of services on both banking and agriculture. ‘e-Kisaan Dhan’ app will provide value-added services like mandi prices, latest farming news, weather forecast, information on seed varieties, SMS advisory, e-pashuhaat, Kisan TV, among other things. Besides this, users can also avail multiple banking services like procuring loans, the opening of Bank accounts, availing insurance facilities, calculate KCC loan eligibility online, and acquiring Government social security schemes at their fingertips. The app will also help with traditional banking services such as apply for loans, Fixed Deposits, Recurring Deposits, and Savings Accounts. The app has been launched by the bank under its ”Har Gaon Hamara” initiative to reach out to customers in the rural and under-served areas.

Note: Headquarters of HDFC Bank: Mumbai, Maharashtra; Managing Director of HDFC Bank: Aditya Puri.

2. Banks sanction over Rs 1 lakh cr loans to 30 lakh MSMEs under ECLGS: As per the data by the Ministry of Finance on 30 June 2020, banks from public and private sectors have sanctioned over Rs 1 lakh crore loans under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector as of June 26, 2020. Out of this, more than Rs 45,860 crore has already been disbursed under the 100 percent ECLGS for the micro, small and medium enterprises (MSMEs). This would help more than 30 lakh units of MSMEs and other businesses restart their businesses post the lockdown. The top lenders under the scheme are State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank and HDFC Bank.

3. Karnam Sekar retires as MD & CEO of Indian Overseas Bank: Karnam Sekar, the managing director and chief executive of public sector lender Indian Overseas Bank (IOB) has retired on June 30, 2020. Karnam had joined the bank as an OSD (officer on special duty) and whole-time director on April 1, 2019 after merger of Dena Bank and Vijaya Bank into Bank of Baroda. He was elevated as MD and CEO on July 1, 2019 after the retirement of Subramaniam Kumar. Prior to working with IOB, Sekar was MD and CEO of Dena Bank since September 21, 2018.

Note: Indian Overseas Bank Headquarters: Chennai, Tamil Nadu; Indian Overseas Bank Founded: 10 February 1937.

BUSINESS AND ECONOMY

1. Fitch slashes India’s GDP Growth Projection to 8% from 9.5% for FY22: Fitch Ratings has cut India’s growth forecast for the fiscal year 2021-22 to 8 percent from its earlier projection of 9.5 percent, in its June update of Global Economic Outlook released on 30 June 2020. However, the rating agency has retained its projection for the current fiscal which is expected to contract by 5 percent in the 2020-21. Meanwhile, Fitch projected Indian economy to grow 5.5 percent in 2022-23.

AWARDS AND HONOURS

1. India’s AI eabled MyGov Corona Helpdesk won 2 awards at CogX 2020: India’s Artificial Intelligence (AI) equipped MyGov Corona Helpdesk has been awarded with CogX 2020 under the categories of Best Innovation for Covid-19-Society and People’s Choice Covid-19 Overall Winner. CogX 2020 is a prestigious Global Leadership Summit and Festival of AI and Emerging Technology which is held annually in London. MyGov, JioHaptik Technologies Ltd and WhatsApp collaborated to develop AI enabled MyGov Corona Helpdesk in the record time of 5 days.

OBITUARIES

1. Former Mizoram Assembly speaker Upa Rokamlova passes away: Former speaker of Mizoram legislative assembly Upa Rokamlova (79 years) passes away in Aizawl. He was a veteran Congress leader and joined politics in early 1980s. He had played a crucial role in signing of the historic Mizo Peace Accord in 1986. He won Mizo state assembly elections 3 times between 1984 and 1993. He became the speaker of Mizoram Assembly in 1990 and also served as rural development Minister of Lal Thanhawla government. 

Daily GK Updates - 1st July, 2020

NATIONAL UPDATES:

1. India and World Bank inks $250 million loan agreements for access to Affordable Housing for Urban Poor in Tamil Nadu: The World Bank has signed an agreement worth USD 250 million on 29 June 2020 with the Government of India and the Government of Tamil Nadu to strengthen the state’s housing sector policies, institutions, and regulations. Of the total $250 million, $200 million will go to First Tamil Nadu Housing Sector Strengthening Program and another $50 million will be for the Tamil Nadu Housing and Habitat Development Project. These projects will help low-income groups in the state of Tamil Nadu to get access to affordable housing. The funds will be provided through the World Bank’s International Bank for Reconstruction and Development (IBRD). Both loans will have a maturity of 20 years including a grace period of 3.5 years.

Note: President of World Bank: David Malpass.

Chief Minister of Tamil Nadu: Thiru Edappadi K. Palaniswami; Governor: Banwarilal Purohit.

2. Karnataka Government launches portal ‘Skill Connect Forum’ to connect job seekers and employers: Karnataka Chief Minister BS Yediyurappa launched a web portal called `Skill Connect Forum`on 29 June 2020, which will bring together both private entrepreneurs and job seekers on the same platform. The portal will provide information on jobs available and those who need jobs. An unemployed person will be imparted a skill and then made ready to get a job. Registration: Jobseekers can register on the portal by uploading their educational, skill qualifications and other details on https://skillconnect.kaushalkar.com. Companies or employer also must register themselves to hire the employees

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

3. Madhya Pradesh launches ‘Hamara Ghar-Hamara Vidyalaya’ campaign: In order to maintain the academic regularity of students during the Corona crisis, the Madhya Pradesh State Education Center has launched a campaign titled ‘Hamara Ghar-Hamara Vidyalaya’ which means My Home-My school scheme. The scheme will be implemented from 06 July 2020 in the state and under this scheme, children will be made to study in the school like environment at the homes. Hamara Ghar-Hamara Vidyalaya has been launched for students of classes 1 to 8 in the state. There will be daily classes from 10 am to 1 pm from Monday to Friday while Saturdays will be for recreational activities organised under Masti Pathshala. A formal timetable has also been made available by the State Education Center to family and students for this program. Reading, performing yoga, writing and listening to stories will be part of the daily routine.

Note: Chief Minister of Madhya Pradesh: Shivraj Singh Chouhan.

4. Gujarat Government launches Rs 1,369 crore ”At One Click” online cash aid for MSMEs & textile industry: Gujarat Chief Minister Vijay Rupani launched an online cash aid initiative titled ”At One Click” for micro small and medium enterprises and textile industries in the state on 26 June 2020. The state government has announced total of Rs 1,369 crore in aid for around 13,000 MSMEs in Gujarat under the program. Out of the toatl 1,369 crore aid, Rs 768 crore have been transferred in bank accounts of 12,247 MSME units in Gujarat while Rs 601 crore aid has been given to bigger industrial units including textile industry.

5. Dharmendra Pradhan Inaugurates Asia’s first-ever Continuous Galvanized Rebar manufacturing facility launched in Punjab: The Union Minister of Steel Dharmendra Pradhan virtually inaugurated Continuous Galvanized Rebar Production Facility at Mandi Gobindgarh in Punjab on 29 June 2020. The new plant is a first-of-its-kind facility in Asia to apply CGR technology that will increase life span of these rebars thereby reducing the overall maintenance cost. The facility has been developed by International Zinc Association (IZA), in collaboration with Madhav KRG Group. The project will be supported by Hindustan Zinc Limited. The Continuously Galvanized Rebar (CGR), are value added rebars for higher life and low maintenance of infrastructure to provide significant cost savings compared to other corrosion resistant rebar systems. It is estimated that the plant will produce an annual capacity of over 30,000 tonne of ZnCoat TempCore TMT bars, under the brand name ‘Jyoti’.

6. National Doctors’ Day: 01st July: The National Doctors’ Day is organised on 01 July annually in India by the Indian Medical Association (IMA), to honour the legendary physicians and emphasise on value of doctors in our lives, to offer them our respects by commemorating one of their greatest representatives. The theme for National Doctor’s Day 2020 is “Lessen the mortality of COVID 19” and includes awareness about asymptomatic hypoxia and early aggressive therapy. The day commemorates the birth anniversary of the second Chief Minister of West Bengal, Dr. Bidhan Chandra Roy who was born on July 1, 1882 and died on the same date in 1962. This year focus will be on thanking all medical professionals for their service against COVID-19

7. Chartered Accountants Day: 01st July: National Chartered Accountants Day or Chartered Accountants’ Day is held on July 1st every year in India. It is also known as ICAI Foundation Day. The day is marked to commemorate the foundation of the Institute of Chartered Accountants of India (ICAI) on July 1, 1949. 2020 marks the 72nd Chartered Accountants’ Day. The ICAI is the sole licensing and regulatory body for the financial audit and accounting profession in India, and its recommendations are followed by everyone – from the National Financial Reporting Authority to companies and accounting organizations. The National Financial Reporting Authority (NFRA) was constituted on 01st October 2018 by the Government of India under Sub Section (1) of section 132 of the Companies Act, 2013.

Note: Chairman of National Financial Reporting Authority: R.Sridharan.

Institute of Chartered Accountants of India Headquarters: New Delhi; President of ICAI: CA Atul Kumar Gupta.

INTERNATIONAL UPDATES:

1. China to join UN arms trade treaty, ‘enhance’ world peace: China will join a global pact to regulate arms sales that has been rejected by the United States, with Beijing saying it is committed to efforts to “enhance peace and stability” in the world. The Communist Party leadership’s top legislative body voted to adopt a decision on joining the UN Arms Trade Treaty that is designed to control the flow of weapons into conflict zones.

2. Russia plans to take first tourist on space walk in 2023: Russia’s Energia space corporation said it will take the first tourist on a space walk in 2023, under the terms of a new contract with a US partner. Energia has inked a contract with Space Adventures, which promises to take two space tourists to the International Space Station that year. The announcement comes days after NASA signed a deal with Richard Branson’s Virgin Galactic space tourism company to promote private missions to the station after a special training program in the US.

3. National Postal Worker Day: 01st July: The National Postal Worker Day is marked every year on July 1 globally in recognition of the contribution made by postal workers in our society. The day is a unique opportunity to say ‘thank you’ not only to postmen but also to all delivery personnel, as online shopping has become a lifeline for many of us. The day was initiated by a popular postal service provider from Seattle, United States of America in 1997 to felicitate and honour the co-postal workers for their dedication.

Note: Director-General of India Post: Arundhaty Ghosh.

OTHER UPDATES:

SPORTS

1. Kiren Rijiju launches “NADA App” for athletes: Sports Minister Kiren Rijiju has launched the National Anti-Doping Agency’s first mobile app named as “NADA App” which aims to bridge the gap between NADA and the athletes by offering easily-accessible information on various aspects of sport, prohibited substances as well as dope-testing. The NADA app is expected to act as a one-stop guide for all anti-doping and medication related information. It also offers comprehensive information on commonly-prescribed medicines.

2. Bharat Pannu secures podium place at 1st Virtual Race Across America: Lt. Col. Bharat Pannu successfully secured podium place at the 1st edition of the Virtual Race Across America (VRAAM) 2020. He secured 3rd position with total distance of 4086 km in 12 days among 17 participants. He became the first Indian to win a podium place at an international ultracycling race. He is an Indian Army Officer. Race Across America (RAAM) is a 5000 km transcontinental race from West to East coast of USA with 12 days’ time period.

BUSINESS AND ECONOMY

1. Swiggy ties up with ICICI Bank to launch payment platform, Swiggy Money: The online food delivery platform Swiggy launched its own digital wallet ‘Swiggy Money’ in partnership with ICICI Bank to provide its customers with a single-click checkout experience. Swiggy Money will enable its customers to store money virtually that can be used for any food orders made through the Swiggy app. The Bengaluru-based company is leveraging ICICI Bank’s ‘Insta wallet service’ which is built on a cloud platform with API integration, which enabled the startup to create a wallet for customers instantly. Existing ICICI customer can avail the services instantly start whereas Non-ICICI customers can start by providing details of a government ID to ICICI Bank.

Note: Headquarters of Swiggy: Bengaluru, Karnataka; CEO of Swiggy: Sriharsha Majety.

Headquarters ICICI Bank: Mumbai, Maharashtra; CEO of ICICI Bank: Sandeep Bakhshi.

AWARDS AND HONOURS

1. Former RBI Governor C Rangarajan Conferred with First ‘P C Mahalanobis Award in Official Statistics’ for lifetime achievements: Former Reserve Bank of India governor Chakravarthi Rangarajan, has been conferred with the first Prof. P C Mahalanobis Award in Official Statistics for lifetime achievements on the occasion of the National Statistics Day on 29 June 2020, by the Ministry of Statistics and Programme Implementation (MoSPI). He was awarded for his contribution in providing solutions in the issues related to the estimation of national income. He served as Deputy Governor of RBI (1982-1991) and as Governor RBI (1992-1997). He also served as the Governor of Andhra Pradesh (1997-2003). He was awarded with Padma Vibhushan in 2002. He was the chairman of 12th finance commission and PM's Economic Advisory Council (2005-2008). The award has been instituted by MoSPI from 2020, and will henceforth be awarded annually for outstanding and meritorious contribution of an individual for the development and promotion of official statistics.

Note: Ministry of Statistics and Programme Implementation (MoSPI): Rao Inderjit Singh.

Chairman of the National Statistical Commission (NSC): Bimal Kumar Roy.

Director of Indian Statistical Institute: Sanghamitra Bandyopadhyay.

OBITUARIES

1. Legendary comedian Carl Reiner passes away: Writer, director, actor and comedy legend Carl Reiner passed away of natural causes at an age of 98. Reiner was a recipient of nine Emmy awards, five of which were for ‘The Dick Van Dyke Show’. Some of his most popular films as a director are ‘Oh God,’ ‘The Jerk,’ and ‘All of Me.’ 

Daily GK Updates - 30th June, 2020

NATIONAL UPDATES:

1. PM extends “Pradhan Mantri Gareeb Kalyan Anna Yojana” till November 2020: Prime Minister Narendra Modi has addressed the nation. This is the Prime Minister’s 6th address to the people of India since the outbreak of coronavirus pandemic in the country. India will enter into the Unlock 2 phase from 1st July onwards, the guidelines for which have been released by the Ministry of Home Affairs on 29 June 2020 itself.  Important Announcements by the Prime Minister:

(1) Pradhan Mantri Gareeb Kalyan Anna Yojana will be extended till the end of November, an extension to cost over Rs 90 thousand crores. Over 80 cr people to get free food grain till Diwali and Chhath pooja.

(2) Pradhan Mantri Garib Kalyan Yojana, 20 crore accounts have received 31,000 crores in their Jan Dhan Accounts.

(3) PM urges the citizens to take the pledge of Vocal for Local and work for the betterment of the society and country at large.

(4) One Nation One Ration Card will be implemented on whole India. This will especially benefit those people who leave their native-place, native-state to find work in some other state.

2. Government of India bans 59 Chinese apps: The Ministry of Electronics & Information Technology has announced that “Government of India Bans 59 Chinese mobile apps”, which are prejudicial to sovereignty and integrity of India, defence of India, the security of the state and public order”. The Ministry of Information Technology, invoking its power under section 69A of the Information Technology Act read with the relevant provisions of the Information Technology (Procedure and Safeguards for Blocking of Access of Information by Public) Rules 2009 and in view of the emergent nature of threats has decided to block 59 apps. Some of the apps are:  TikTok, Shareit, UC Browser, Helo, Likee, Club Factory, Beutry Plus, WeChat, Weibo, Xender, ES File Explorer, etc.

Note: Union Minister of Electronics and IT: Ravi Shankar Prasad.

Union Minister of State in the Ministry of Electronics and IT: Dhotre Sanjay Shamrao.

3. India’s first lichen park developed in Pithoragarh district of Uttarakhand: India’s first lichen park has been established in Kumaon’s Munsiyari village of Pithoragarh district in Uttarakhand, by the state forest department, to protect, conserve and cultivate lichen, which are the best bioindicators of the pollution levels. The park is spread across an area of 1.5 acres, with over 80 species of lichens collected from across the Himalayan state. Lichens are found in the Himalayas at a height of about 5000 metres, and are important species as they are the natural indicator of pollution levels in an area. If pollution levels increase in a certain area, the lichen species decline there. . The project aims to study the distribution of different lichen species, their habitat, their morphological and physiological aspects, surveying and literature review, the establishment of species, current threats to their habitat including anthropological and climatic factors, and coming up with suitable conservation strategies and protection strategies. These Jurassic-era lichen species are used in food, perfumes, dyes and traditional medicines.

Note: Chief Minister of Uttarakhand: Trivendra Singh Rawat; Governor: Baby Rani Maurya.

4. Maharashtra launches world’s largest plasma therapy trial ‘Project Platina’: Maharashtra Chief Minister Uddhav Thackeray virtually launched world’s largest convalescent plasma therapy trial project ‘Project Platina’ on 29 June 2020, for treating critical COVID-19 patients. The state government has approved Rs 16.65 crore for the project from the Chief Minister’s Relief Fund. 21 centres have been picked for the trial, including 17 medical colleges under the department of medical education and drugs, the government of Maharashtra and four BMC medical colleges in Mumbai. Under the project, critical patients will receive two doses of 200 ml of plasma recovered from COVID-19 patients. The treatment will be provided free of cost to all coronavirus patients under the trial project. Plasma is the liquid part of the blood which have antibodies to the coronavirus, thereby fight the infection and helping critically-ill patients to recover.

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

5. Madhya Pradesh to Launch Door-To-Door “Kill Corona” Drive From July 1: The Madhya Pradesh government has announced to launch 15-day long ‘Kill Corona’ campaign in the state from 1st July 2020 to control the spread of coronavirus in the state. Under the campaign, a door-to-door survey will be conducted and tests would also be done on citizens for other diseases. Around 2.5 lakh tests will be carried out and 15,000 to 20,000 samples would be collected daily.

Note: Chief Minister of Madhya Pradesh: Shivraj Singh Chouhan; Governor: Lalji Tandon; Capital: Bhopal

6. India’s first Plasma Bank to be set up in Delhi to treat COVID-19 patients: The Delhi government is all set to establish India’s first plasma bank in the national capital to fight the novel coronavirus. Delhi Chief Minister Arvind Kejriwal has announced that the plasma bank will be set up at the Institute of Liver and Biliary Sciences in south Delhi’s Vasant Kunj. It will serve the purpose of coordination between plasma donors and recipients. The Minister has also requested those who have recovered from the infection to donate plasma to help other patients. The plasma bank will start its operation by 2nd July 2020.

Note: Governor of Delhi: Anil Baijal

7. India-China border row: Govt grants emergency funds to armed forces for war preparedness: Amid the ongoing border tensions with China, the government has granted emergency funds to armed forces for war preparedness. The government has granted big financial power to the defence forces under which they can buy any weapon system under Rs 500 crore. The three services have been granted the financial powers by the Narendra Modi government to buy weapon systems under emergency requirement procedure. Now they can buy any in inventory or new weapon upto Rs 500 for each project under these powers.

8. DCGI approves human clinical trials of COVAXIN: Drug Controller General of India (DCGI) has given approval to ‘COVAXIN’ for human clinical trials. It is the 1st potential COVID-19 Vaccine developed in India. It is developed by Hyderabad-based Bharat Biotech, in association with Indian Council for Medical Research (ICMR). It is an inactivated vaccine which is created from a strain of the infectious SARS-CoV-2 virus. It has shown good results in the pre-clinical studies with effective immune responses.

INTERNATIONAL UPDATES:

1. Lazarus Chakwera Takes Charge as the new President of Malawi: Malawi’s opposition leader Lazarus Chakwera has been sworn in as the 6th President of the country on 28 June 2020, after being declared as the winner of the southern African country’s historic presidential election. The 65-year-old, leader of the Malawi Congress Party- MCP, defeated the incumbent President Peter Mutharika with 58.57% of votes. Peter Mutharika, 79, of the Democratic Progressive Party, secured 39.4% of the total votes. Lazarus Chakwera will have five-year term as Malawi president after historic win.

Note: Malawi Capital: Lilongwe; Currency: Malawian Kwacha

2. India & Bhutan inks JV Agreement for 600 MW Kholongchhu hydroelectric project: India and Bhutan have signed a concession agreement, on 29 June 2020, for the construction of 600 MW Kholongchhu hydroelectric project (KHEL), in Bhutan’s less developed eastern region of Trashiyangtse. KHEL will be the first joint venture project under an Inter-Governmental Agreement (IGA) signed in 2014. The joint venture partners of the project are Satluj Jal Vidyut Nigam Limited (SJVNL) from India and Bhutan’s Druk Green Power Corporation Limited (DGPC). The project will be constructed as a 50:50 joint venture, and not as a government-to-government agreement. Kholongchu is expected to be completed in the second half of 2025 and generate about 2568.88 million units annually. Once the project is commissioned, the JV partners will run it for 30 years, called the concession period, after which the full ownership will transfer to the Bhutan government.

Note: Capital of Bhutan: Thimphu; Prime minister of Bhutan: Lotay Tshering; The currency of Bhutan: Bhutanese ngultrum.

3. International Day of Parliamentarism: 30th June: The United Nations International Day of Parliamentarism is held on June 30 to celebrate parliaments and the ways in which parliamentary systems of government improve the day-to-day lives of people the world over. It was first observed in 2018 as adopted by UN General Assembly. The 2020 event is the third edition of the celebration. The day marks the anniversary of the Geneva-based Inter-Parliamentary Union, the global organization of parliaments, that was established on June 30, 1889.

Note: Inter-Parliamentary Union Headquarters: Geneva, Switzerland; Inter-Parliamentary Union President: Gabriela Cuevas Barron; Inter-Parliamentary Union Founded: 1889; Inter-Parliamentary Union Secretary-General: Martin Chungong.

4. International Asteroid Day: 30th June: The International Asteroid Day, also known as Asteroid Day is a United Nations proclaimed day observed globally on June 30 ever year to raise awareness about asteroids and what can be done to protect the Earth, its families, communities, and future generations from a catastrophic event. The event marks the anniversary of the Siberian Tunguska event that took place on June 30, 1908, and was the most harmful known asteroid-related event on Earth in recent history. The first International Asteroid Day was held in 2015.

Note: United Nations Office for Outer Space Affairs (UNOOSA) Director: Simonetta Di Pippo.

OTHER UPDATES:

SPORTS

1. German former professional footballer Mario Gomez announces retirement: Former Germany footballer Mario Gomez has announced his retirement from the sport on 28 June 2020. The 34 year old has represented the Germany national team over a period of 11 years between 2007 and 2018. He played as a striker and has scored 31 goals in 78 appearances for the national team. He is considered as one of the best German forwards of his time.

BANKING AND FINANCE

1. Government launches 7.15% Floating Rate Saving Bonds: The government has announced the launch of Floating Rate Savings Bonds, 2020 (Taxable) with an interest rate of 7.15 per cent. The bonds will be available for subscription from July 1, 2020 onwards.  As per the Reserve Bank of India (RBI) press release, the interest rate on these bonds will be reset every six months, the first reset being on January 01, 2021. There is no option to pay interest on cumulative basis i.e. interest will be payable in every six months instead of having an option to receive it at maturity.

2. YES Bank launches full service digital savings account: India-based Yes Bank has launched a full service digital savings account with video KYC facility as part of its strategy to build up a transformed digital bank. The digital savings account includes virtual Debit Card that can be used for online transactions, fund transfers and shopping. This new initiative will eliminate the need for the branch visit, physical documentation or any in-person interaction while ensuring physical distancing for customers.

BUSINESS AND ECONOMY

1. Indian economy expected to contract 5% in FY21: S&P Ratings: The GDP growth of India is expected to contract by 5 percent in the fiscal year 2020-21, according to latest forecast by S&P Global Ratings. The growth is expected to rebound in 2021-22 at 8.5%. Summary:

2. Instamojo launches InstaCash to solve the liquidity challenge for MSMEs: Instamojo, has launched ‘InstaCash’ to enable merchants to gain access to working capital. Merchants can avail loans for upto Rs 1 lakh, for a period of 7–14 days. Instamojo will transfer the amount to the customer once the request has been placed. The company has also introduced mojoPlus which enables merchants to earn points on transactions and redeem it to avail discounts on Instamojo fees.

Note: Instamojo is one of the top rated payment gateway & eCommerce platform in India.

AWARDS AND HONOURS

1. Beyonce Honored with Humanitarian Award at BET Awards 2020: The 20th edition of the annual BET Awards 2020 took place with a series of virtual performances on 28 June 2020. The renowned American Popstar Beyonce was honored with the 2020 Humanitarian Award during the event. Beyonce, 38, was honoured for her longstanding philanthropic work with her BeyGOOD Foundation, including her recent COVID-19 relief efforts such as #IDIDMYPART, a mobile testing initiative. The award was presented by the former First Lady Michelle Obama.

Note: The BET Awards is an American award show that was established in 2001 by the Black Entertainment Television network to celebrate African Americans and other American minorities in music, acting, sports, and other fields of entertainment over the past year.

OBITUARIES

1. Kannada novelist Geetha Nagabhushan passes away: Kannada novelist Geetha Nagabhushan (78 years) passes away at Kalaburagi, Karnataka. She was the 1st woman Kannada literature writer who was awarded with Kendra Sahitya Akademi and Nadoja award. Her works shows resistance to patriarchy and gender stereotypes. She wrote 27 novels, 50 short stories, 12 plays and 2 poetry collections. Works: Thavare Huvu, Baduku (novel), Jwalantha and Jogini (play). She was the President of 76th Karnataka Sahitya Academy.

Daily GK Updates - 29th June, 2020

NATIONAL UPDATES:

1. Union Minister Harsimrat Kaur Badal launches Pradhan Mantri Scheme for Formalization of Micro Food Processing Enterprises: The Union Minister of Food Processing Industries, Harsimrat Kaur Badal formally launched Pradhan Mantri Scheme for Formalization of Micro Food Processing Enterprises as a part of Atma Nirbhar Bharat Abhiyan on 29 June 2020. The scheme aims to enhance the competitiveness of the existing individual micro enterprises by increasing their access to credit, modern technologies among other things. Salient Features of the scheme: (1) The All India Centrally Sponsored Scheme has an outlay of Rs.10,000 crore for 5 years from 2020-21 to 2024-25; (2) Provide employment to about nine lakh skilled and semi-skilled workers.; (3) Cover 2,00,000 enterprises; (4) Expenditure will be shared by Government of India and States at 60:40; (5) About Rs. 35,000 cr investment is expected under the programme.

2. Arjun Munda inaugurates Tribes India store on GeM: Union Minister of Tribal Affairs, Arjun Munda has inaugurated the TRIBES India store on the Government e-Marketplace (GeM) and the TRIFED’s new website (trifed.tribal.gov.in). The store will help in facilitating purchases by Government. The newly launched website contains all important information about the schemes as well as initiatives underway to the benefit of tribal communities. The products and the website were launched during a webinar organised by TRIFED, Ministry of Tribal affairs with focus on “TRIFED Goes Digital” and “Be Vocal for Local”.

Note: Chairman of TRIFED: Ramesh Chand Meena.

3. Anandiben Patel took additional charge as MP’s Governor: Anandiben Patel has been given additional charge as Governor of Madhya Pradesh. President Ram Nath Kovind has appointed Anandiben Patel under Articles 155 and 160 of the Constitution. She is currently serving as the Governor of Uttar Pradesh since 2019. She will be discharging the functions of the Governor of Madhya Pradesh in addition to her own duties, as the present governor of Madhya Pradesh Lalji Tandon is undergoing treatment in Lucknow.

Note: Chief Minister of Uttar Pradesh: Yogi Adityanath; Chief Minister of Madhya Pradesh: Shivraj Singh Chouhan.

MP's Chief Minister: Shivraj Singh Chouhan

4. Piyush Goyal chairs 49th Governing Council Meeting of NPC: Shri Piyush Goyal, Commerce & Industry Minister and President of NPC Governing Council chaired the 49th Governing Council Meeting of National Productivity Council (NPC). The participants in the meeting deliberated on increasing the productivity levels of the India in various sectors and put forward various suggestions such as interlinking of academia and industry for creation of a highly skilled labor force, identification of Champion sectors which has the potential to drive the economy, sector formulation of specific action plans by NPC especially in agriculture and logistics sectors, and adoption of technology to increase the productivity.

5. National Statistics Day: 29th June: Government of India celebrates the National Statistics day on 29th June on the birth anniversary of Prof. P C Mahalanobis. The National Statistics Day is celebrated to create awareness among youth about the role of statistics in socio-economic planning and policy formulation. The National Statistics Day was first celebrated on 29th June 2007. Professor Prasanta Chandra Mahalanobis is known as the father of Indian Statistics. The theme of Statistics Day 2020 is selected as SDG- 3 (Ensure healthy lives and promote well-being for all at all ages) & SDG- 5 (Achieve gender equality and empower all women and girls).

Note: Minister of State (Independent Charge) of the Ministry of Statistics and Programme Implementation: Rao Inderjit Singh.

INTERNATIONAL UPDATES:

1. G20 Extraordinary Virtual Education Ministers’ Meet: The G20 Extraordinary Virtual Education Ministers’ Meeting was held to address the widespread disruptions caused by the COVID-19 pandemic in the education sector. Union HRD Minister Shri Ramesh Pokhriyal ‘Nishank’ represented India in the meeting. The meeting held under the presidency of Saudi Arabia, was convened to deliberate the effects of the COVID 19 pandemic on the education sector, to discuss how different governments are dealing with it and how the Member States can collaborate to further the cause of education in these difficult times.

2. India among Switzerland’s top-3 partners for getting info on bank accounts: India is among the top-three countries to get detailed information from Switzerland on request about bank accounts and beneficiary ownership of entities established by their residents in the Alpine nation, as per the latest study by Organisation for Economic Cooperation and Development’s (OECD’s) Global Forum on transparency and exchange of information for tax purposes. The Global Forum’s latest peer review report on exchange of information on request, during the period from July 2015 to June 2018, features India among the top-three jurisdictions, helping India to launch prosecution against a large number of alleged tax evaders. The report is topped by France and Germany.

Note: OECD headquarters: Paris, France

3. World Bank Approves USD 500 mn loan to improve quality of education system in 6 Indian States: The World Bank has approved loan worth $500 million (about Rs 3,700 crore) for Strengthening Teaching-Learning and Results for States Program (STARS) to improve quality and governance of school education in six Indian states. The STARS program builds on the long partnership between India and the World Bank (since 1994), for strengthening public school education and to support the country’s goal of providing Education for All. The six states are Himachal Pradesh, Kerala, Madhya Pradesh, Maharashtra, Odisha, and Rajasthan. It will be implemented through Samagra Shiksha Abhiyan.

4. International Day of the Tropics: 29th June: The International Day of the Tropics is a United Nations designated day, observed on 29 June every year. The main purpose of the day is to raise awareness about the specific challenges faced by tropical areas, the far-reaching implications of the issues affecting the world’s tropical zone and the need, at all levels, to raise awareness and to underline the important role that countries in the tropics will play in achieving the Sustainable Development Goals. It was on this day in 2014, that Nobel Laureate Aung San Suu Kyi launched inaugural State of Tropics Report which is the culmination of collaboration between 12 leading tropical research institutions, and offers unique perspective on Tropics.

OTHER UPDATES:

SPORTS

1. Indian umpire Nitin Menon inducted in ICC Elite Panel: Indian umpire Nitin Menon has been included in the International Cricket Council’s (ICC’s) Elite Panel of Umpires for the upcoming 2020-21 season on 29 June 2020. The 36-year-old is the only third Indian umpire to feature in the prestigious panel after former captain Srinivas Venkatraghavan (2002) and Sundaram Ravi (2010). Menon replaces Nigel Llong of England in the list of 12 umpires for the season. He is the youngest umpire to join the elite panel. Earlier, Nitin Menon was a part of Emirates ICC International Panel of Umpires. He has officiated 3 Tests, 24 One Day Internationals and 16 T20 Internationals.

BANKING AND FINANCE

1. Sidbi sets up Swavalamban Crisis Responsive Fund to facilitate free onboarding of MSMEs on TReDS platform: The Small Industries Development Bank of India (SIDBI) has set up ‘Swavalamban Crisis Responsive Fund’ to support free onboarding for micro, small and medium enterprises (MSMEs) on trade receivables discounting system (TReDS). The initiative aims to offer relief to the MSMEs from severely crunched cash flow, during these challenging times. The free onboarding of MSMEs would be available till September 2000. It is an open-ended fund with the target to onboard 10,000 MSMEs during this period. Usually, an MSME has to pay a fee of Rs 5,000 to Rs 10,000 for getting registered on a TReDS platform. Three TReDS platforms namely Receivables Exchange of India Ltd (RXIL), M1xchange and Invoicemart will help MSMEs to gain access to working capital through invoice discounting via multiple financiers.

2. PhonePe partners with ICICI Bank on UPI multi-bank model: Flipkart-owned PhonePe has partnered with ICICI Bank on UPI multi-bank model giving its users the option to create and use multiple UPI IDs with ICICI and Yes Bank”s handles. The ‘@ibl’ handle for ICICI Bank users and ‘@ybl’ handle for YES Bank users will enable easy, quick and contactless payment services to over 200 million registered PhonePe users. The PhonePe customers will now be able to choose between multiple handles for their UPI IDs, thus making payments easy, secure and accessible to all.

Note: Phonepe founded: December 2015; CEO of Phonepe: Sameer Nigam; Headquarters: Bengaluru, Karnataka.

BUSINESS AND ECONOMY

1. Bangalore, Delhi, Mumbai Make Global Startup Ecosystem List: Two Indian cities made it onto the top 40 of the world’s most favourable ecosystems to build a globally successful startup, topped by the Silicon Valley in California. Bangalore was ranked 26th and Delhi 36th in The Global Startup Ecosystem Report 2020′ by Startup Genome, with Mumbai topping a parallel Top Emerging Ecosystems ranking. London and New York also overtook Silicon Valley in the connectedness ranking, a factor based on the number of tech meetups in the ecosystem and a life sciences-focused measure of accelerators and incubators, research grants, and R&D anchors in the ecosystem.

Daily GK Updates - 28th June, 2020

NATIONAL UPDATES:

1. India is the first country in the world to control Locust through Drones: India has become the first country in the world to control locust by using drones, as the Centre deployed drones, tractor mounted sprayers and fire tender vehicles to undertake locust control in the country. Under Make in India initiative, the Department of Agriculture, Cooperation & Farmers’ Welfare (DAC&FW), Agriculture Ministry has indigenously developed a vehicle mounted Ultra-low volume (ULV) sprayer for locust control. In total 60 ground control teams of Locust Circle Offices and 12 drones are being used for locust control operations in the affected areas. The need of aerial spray for locust control was felt as the ground control vehicles sprayers can spray up to a height of 25-30 feet only. The tractor mounted sprayers also have a limitation in reaching inaccessible areas and tall trees. Locust is a crop-threatening migratory pest that has entered the country through the India-Pakistan border.

2. Chhattisgarh announces Godhan Nyay Yojana: The Chhattisgarh government, led by Chief Minister Bhupesh Baghel has launched ‘Godhan Nyay Yojana’ in the state to make animal husbandry commercially profitable, prevent open grazing by cattle, solve the problem of stray animals on roads and for environment conservation. Under the scheme, the state government will procure cow dung from Livestock owners on fixed rate.  The cow dung will be used for the production of vermi-compost, which would then be sold through cooperative societies, to meet the fertilizer requirement of farmers. It is an effective initiative for cow dung management as well as to make animal husbandry more profitable. The scheme will be implemented in the state from Hareli Festival. It is an important festival of Chhattisgarh’s ‘Gond’ Tribe and is celebrated in The new moon day of Srawan (Sawan Amavsya) month of the Hindu calendar between July and August in rainy season.

3. Ministry of Culture to celebrate Sankalp Parva from 28th June to 12 July 2020: Union Minister of State for Culture and Tourism (Independent charge) Shri Prahlad Singh Patel has announced that the ministry has decided to celebrate ‘Sankalp Parva’ from 28th June to 12 July 2020. This initiative is line with the Prime Minister of India Shri Narendra Modi’s call for planting at least five trees either in Office campus or wherever it is possible, to ensure clean and healthy environment of the country. The Ministry of Culture has asked all its Subordinate Offices, Academies, Attached Institutions, Affiliated Institutions to plant the five trees as identified by PM Modi, in its campus or at the surroundings wherever it is possible. These trees are “Bargad”, “Awla”, “Pepal”, “Ashok” and “Bel” and represent the herbal heritage of our country. However, people may do plantation of any other sapling of their choice, incase of non availability of the saplings of these trees.

4. Battery Swapping Facility Quick Interchange Service launched in Chandigarh: V P Singh Badnore, Governor of Punjab-cum-Administrator, UT, Chandigarh, along with the Minister of Petroleum and Natural Gas & Steel Dharmendra Pradhan inaugurated Battery Swapping Facility Quick Interchange Service (QIS) at Chandigarh.  Battery swapping technology offers the best alternative to slow charging and helps the drivers to make optimum use of the operational hours. The battery swapping model is initially targeted at the commercial segment, i.e., electric autos, rickshaws and electric 2W also and the electric vehicle which is either factory fitted or retrofitted.

Note: Chairman of Indian Oil: Sanjiv Singh.

5. Health Minister Dr Harsh Vardhan releases annual TB Report 2020: Health Minister Dr Harsh Vardhan released the annual TB Report 2020 through a virtual event. According to the report, over 24 lakh TB patients have been notified in 2019. This amounts to a 14 percent increase in TB notification as compared to 2018. There has been a reduction in the number of missing cases to 2.9 lakh cases as against more than 10 lakhs in 2017. Private sector notifications increased by 35 percent with 6.78 lakh TB patients notified. The Minister also released a Joint Monitoring Mission report, a manual on Direct Benefit Transfer to TB patients under NIKSHAY system

6. Govt Approves Additional Rs 1,691 Crore for Highway Works in J&K, Uttarakhand for 2020-21: The government has approved an additional Rs 1,691 crore for highway works by the Border Roads Organisation (BRO) in Jammu & Kashmir and Uttarakhand for 2020-21. Of this, Rs 1,351.10 crore has been sanctioned to BRO for road works in Jammu & Kashmir and  Rs 340 crore ceiling has been approved for Uttarakhand for national highways. In addition, it has also given nod for additional sanction of Rs 71 crore for highway works by the state’s Public Works Department in Jammu & Kashmir, Ladakh, Sikkim and Tamil Nadu. Besides, it has also enhanced the total ceiling to Rs 1,955 crore for highways work for under Tribal Sub-Plan (TSP) from the existing Rs 1,081 crore.

INTERNATIONAL UPDATES:

1. Micheal Martin takes over as the Prime Minister of Ireland: Micheal Martin has been appointed as the Taoiseach (Prime Minister) of the Republic of Ireland on 27 June 2020. The 59-year-old will lead a three-party coalition government consisting of Fianna Fáil, Fine Gael and the Green Party. Martin is serving as the 15th Taoiseach of the country. He succeeds Leo Varadkar. He has been the leader of the Fianna Fáil party since 2011. Irish Lower House has 160 seats including the seat of the speaker who is generally not involved in the voting. Micheal Martin won the election by receiving 93 votes in favour, 63 votes against and 3 votes in abstention.

Note: Ireland's capital: Dublin; Currency: Euro; President of Ireland: Michael D Higgins

2. Gudni Johannesson Re-elected as President of Iceland for second 4-year term: The current President of Iceland, Gudni Johannesson has been re-elected as the head of the state. The former history professor won his second four-year term with 92.2 percent of the 168,821 votes cast. It is the second-highest margin of victory in the history of Iceland’s presidential elections. Vigdis Finnbogadottir, the first woman in the world to be democratically elected as head of state, holds the record, winning re-election in 1988 with 94.6 percent of the vote.

Note: Iceland Capital: Reykjavík; Currency: Icelandic króna

3. IIT-Ropar Emerges as best Indian University in ‘THE Young University Ranking 2020’: The Times Higher Education (THE) has released the ‘THE Young University Rankings 2020’ which list the world’s best universities that are 50 years old or younger. The 2020 ranking includes 414 universities from across the globe, up from 351 in 2019. Overall, 26 Indian universities appear in the ranking of 2020, while only two Indian universities made it into the top 100, and none could enter the ’50 under 50′ category. The best Indian university among the youngest institutes in the country is IIT-Ropar, in Punjab. It is ranked at 62nd spot. The other Indian university in top 100 is IIT Indore at 64th rank. The overall ranking has been topped by The Hong Kong University of Science and Technology. The universities are judged across all their core missions – teaching, research, knowledge transfer and international outlook – to provide the most comprehensive and balanced comparisons available.

List of top 10 Universities

Rank 1: The Hong Kong University of Science and Technology

Rank 2: Nanyang Technological University, Singapore

Rank 3: Paris Sciences et Lettres – PSL Research University, Paris

Rank 4: Sant’Anna School of Advanced Studies – Pisa

Rank 5: Korea Advanced Institute of Science and Technology (KAIST)

Rank 6: Maastricht University

Rank 7: City University of Hong Kong

Rank 8: Pohang University of Science and Technology (POSTECH)

Rank 9: Sorbonne University, France

Rank 10: Pompeu Fabra University, Spain

OTHER UPDATES:

BANKING AND FINANCE

1. RBI extends enhanced borrowing limit under MSF till 30 September: In March 2020, the Reserve Bank of India, had increased the borrowing limit of scheduled banks under the marginal standing facility (MSF) scheme from 2 percent to 3 percent of their Net Demand and Time Liabilities (NDTL) as a temporary measure to deal with cash crunch caused by coronavirus pandemic. This relaxation was effective from March 27, 2020 and was granted till June 30, 2020. Now, RBI has decided to extend this enhanced borrowing facility provided to the banks to meet their liquidity shortages till September 30, 2020. Apart from this, the Central Bank has also extended the relaxation on the minimum daily maintenance of the Cash Reserve Ratio (CRR) at 80 percent for a further period of three months till September 25, 2020. On March 27, the minimum daily maintenance of the CRR was reduced from 90 percent of the prescribed CRR to 80 percent till June 26, 2020 due to the hardships faced by banks in terms of social distancing of staff and consequent strains on reporting requirements.

2. IRDAI sets up panel on insurance for use drones: The Insurance Regulatory and Development Authority of India (IRDAI) has formed a working group to suggest insurance products covering the various risks involved in the use of drones. The nine-member panel headed by Anjan Dev, General Manager of The New India Assurance Co, has been asked to study and understand the insurance needs of Remotely Piloted Aircraft System (RPAS) owners and operators. Irdai has tasked the group to make recommendations relating to design and development of product/s meeting the needs of RPAS owners and operators, including third party liability.

AWARDS AND HONOURS

1. United Nations honours Kerala’s Health Minister KK Shailaja for efforts to fight pandemic: The state Health Minister of Kerala, KK Shailaja, has been honoured by the United Nations, during a virtual conference organised as a part of the occasion of the United Nations Public Service Day on 24 June 2020. The 63-year-old minister was honored for her efforts to tackle the coronavirus pandemic in the state by adopting the three strategies of “Trace, Quarantine, Test, Isolate and Treat”, “Break the Chain” and “Reverse Quarantine.” Shailaja was among 10 other world leaders invited to speak on the occasion. She was the only speaker from the country to speak at the event on the strategies adopted by Kerala to curb COVID-19 transmission.