Daily GK Updates - 7th July, 2020

NATIONAL UPDATES:

1. India’s First NPNT Compliant Drone Flight successfully completed: Mumbai based Quidich Innovation Labs Private Limited has announced that it has successfully completed the first No-Permission No-Takeoff (NPNT) compliant drone flight of India. The Directorate General of Civil Aviation (DGCA) identified the green field near Karnataka’s Tumkur were the first NPNT compliant drone flight of India was carried out. The drone used for the flight is an Asteria Aerospace (Bengaluru based company) manufactured A200 micro drone. U0000001 is the UIN of the A200 micro drone that has completed the first NPNT compliant drone flight of India. This NPNT drone flight is under the Ministry of Civil Aviation MoCA & DGCA comprehensive policy on the use of Unmanned Aerial Vehicles (UAV), which came into effect on 1st Dec 2018.

Note: Minister of State (Independent Charge) of the Ministry of Civil Aviation: Hardeep Singh Puri.

2. Government appoints Injeti Srinivas as first Chairman of IFSCA for 3 Years: Senior bureaucrat and former Corporate Affairs Secretary, Injeti Srinivas has been appointed as the first chairman of the International Financial Services Centres Authority (IFSCA) with effect from 6th July 2020, for a period of three years. Srinivas, a 1983-batch IAS officer of Odisha cadre, superannuated as the Corporate Affairs Secretary in May 2000. The IFSCA has been established by the Ministry of Finance on April 27, 2020. It is a unified authority to regulate all financial services in International Financial Services Centres (IFSCs) in the country. The body is headquartered at GIFT city in Gandhinagar, Gujarat.

3. Kolkata Port Starts new Shipping service from Kolkata to Bangladesh’s Chattogram port: The Syama Prasad Mookerjee Port Trust (SMPT), Kolkata, has introduced a new service between Kolkata Dock System (KDS) and Chattogram (Chittagong) Port, Bangladesh through Indo-Bangladesh Protocol Route, to transport containers to Chittagong by ship. This move will not only save transportation costs for importers but also help avoid congestion along roads and hence ease trade between India and Bangladesh. The vessel used for this new service will be Singapore flag carrier MV Asiatic Moon. This is the biggest vessel by size to ply between Kolkata and Chattogram till date. It can carry upto 600 containers in a single voyage to Chattogram. The vessel ‘M.V Asiatic Moon’ is expected to carry 300 containers of Indian exports to Bangladesh in its maiden voyage. The service has been launched by Zim Integrated Services in association with Bengal Tiger Lines. The port and the shipping line are also in consultations with Federation of Indian Exports Organisation (FIEO) to enable all exporters to get to know of this facility.

4. Karnataka launches Weavers’ Sammaan Yojana to provide annual financial assistance to handloom weavers: The Karnataka Chief Minister B. S. Yediyurappa virtually launched Weavers Sammaan Yojana, (Nekar Samman Yojane) on 6th July 2020. Under the scheme, state government will provide annual financial assistance of Rs 2,000 to handloom weavers in the state through Direct Benefit Transfer. The State Government has allocated Rs 10.96 crore under the programme. In the first phase of the scheme, 19,744 weavers will be covered.

5. Himachal Pradesh becomes first state of India where every household has LPG gas connections: Himachal Pradesh Chief Minister Jai Ram Thakur has announced that each and every household in the state has got access to LPG connection. With this, Himachal Pradesh has become the first state in India where 100 percent households have LPG connections. Around 1.36 lakh families of the state were benefited under the central government’s ”Pradhan Mantri Ujjawala Yojana” where gas connections were provided free of cost to women of rural areas. Apart from this, the state government had launched “Himachal Grihini Suvidha Yojana” to cover the left out families in the state, who were not covered under the Centre’s scheme. As many as 2,76,243 families in the state were provided free gas connections under this state’s scheme.

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

6. Maharashtra Govt launches ‘MahaJobs’ portal for unemployed youths of the state: Maharashtra Chief Minister Uddhav Thackeray inaugurated a web portal ‘MahaJobs’ on 6th July 2020, to provide employment opportunities to unemployed local residents (sons of the soil) of the state. The web portal can be accessed at https://mahajobs.maharashtra.gov.in/. MahaJobs portal will bridge the gap between employers and skilled, semi-skilled and unskilled local workers of the state. It will be mandatory for the people registering at the job portal, to submit the domicile certificate.

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

7. Maruti Suzuki Chairman R C Bhargava pens book “Getting Competitive: A Practitioner’s Guide for India”: Maruti Suzuki chairman R C Bhargava has written a book titled “Getting Competitive: A Practitioner’s Guide for India”. In the book Bhargava has used his experience of more than 60 years as a policymaker and industry leader to give practical suggestions on what needs to be done to make India competitive industrialised country and to create an equally just society. The book has been published by HarperCollins India.

Note: Managing Director & CEO of Maruti Suzuki: Kenichi Ayukawa; Maruti Suzuki Headquarters: New Delhi.

8. IIT Roorkee Develops “Unisaviour” – Disinfection Box to Sterilise Personal Belongings: A team of researchers at IIT Roorkee led by Prof Soumitra Satapathi, Laboratory of Integrated Nanophotonics and Biomaterials, has developed a disinfection box that can be used for sterilising a wide variety of personal belongings including medical equipment, PPE, apparels among others, against coronavirus. Termed as the ‘Unisaviour’ box, it comprises a metal coated with specially- designed highly reflective geometry to allow the calibrated passage of UVC light to disinfect personal belongings. The box also comprises an additional safety switch for UVC light. The disinfection box can also be installed easily at the public spaces such as cinema halls, malls etc to ensure the highest standard of hygiene.

9. MP Tourism board launches “Intzaar Aap Ka” campaign: In Madhya Pradesh, in order to attract tourists to the tourist places of the state; ‘Intzaar Aap Ka’ means waiting for you campaign has started on social media platforms. The Madhya Pradesh Tourism Board has been inviting tourists by describing the characteristics of each tourist destination in an attractive way with that tagline on social media platforms. Different tour packages have also been prepared according to the time and convenience of the tourists which include safe travel, stay and excursions.

Note: Chief Minister of Madhya Pradesh: Shivraj Singh Chouhan; Governor: Anandiben Patel.

INTERNATIONAL UPDATES:

1. Israel successfully launches new spy satellite ‘Ofek 16’: On 6th July 2020, Israel Space Agency successfully launched a new spy satellite called ”Ofek 16”,  that would help the country in keeping tabs on its many threats across the region. Ofek is an electro-optical reconnaissance satellite with advanced capabilities. The satellite has been developed by the Ministry of Defence, along with the state-owned Israel Aerospace Industries. The launch took place at 4 a.m. from the Palmachim air base in central Israel into space. This was the first launch of an Israeli spy satellite into space since the Ofek-11 which entered orbit in September 2016.

Note: Capital of Israel: Jerusalem; Currency of Israel: Israeli Shekel; President of Israel: Reuven Rivlin; Prime Minister of Israel: Benjamin Netanyahu.

2. India Ranks 117th in 2020 SDG Index, Sweden Tops: Sustainable Development Report 2020 has been released with SDG Index and Dashboards for all UN member states. It is published by Cambridge University Press and prepared by independent experts at the Sustainable Development Solutions Network and Bertelsmann Stiftung. India has been placed at 117th in SDG index 2020 with overall score of 61.92. Sweden has topped the 2020 SDG Index with a score of 84.7 followed by Denmark and Finland. SDG index 2020 ranked 166 nations on 17 sustainable development goals

3. World Chocolate Day: 07th July: World Chocolate Day (also known as International Chocolate Day) is an annual observance taking place globally on 7th July. The day is said to be chosen to celebrate the introduction of chocolate to Europe in 1550. It is marked by eating chocolates and sharing with dear ones.

OTHER UPDATES:

SPORTS

1. Valtteri Bottas wins Austrian Grand Prix 2020: Mercedes driver Valtteri Bottas (Finland) has won the Austrian Grand Prix 2020. Austrian Grand Prix 2020 was the first race of 2020 Formula one season. Ferrari’s Charles Leclerc finished second while McLaren’s Lando Norris came third. Another Mercedes racer Lewis Hamilton being handed a 5 second penalty that dropped him from second place to fourth. The event was held at the Red Bull Ring without spectators.

BANKING AND FINANCE

1. Yes Bank launches instant loan disbursement facility ‘Loan in Seconds’: The private sector lender Yes Bank has launched an instant personal loan disbursal facility called ‘Loan in Seconds’ for its retail customers. The bank’s account holders pre-identified by the bank can avail this facility digital loan disbursal facility in a completely paperless and hassle-free way, without going to the bank branch and without submitting any type of documents. Eligible customers will receive a communication with the link to apply for instant personal loan.

Note: Yes Bank Headquarters: Mumbai, Maharashtra; Yes Bank MD & CEO: Prashant Kumar.

2. SBM India ties up with Mastercard to facilitate cross border remittances: SBM Bank India (promoted by Government of Mauritius) and Mastercard have joined hands to facilitate cross-border payments and remittances services by using ‘Mastercard Send’. Mastercard Send is a secured and innovative solution– crafted to modernize domestic and cross-border payments and remittances. Customers can make real-time domestic business-to-consumer transfers quickly and efficiently through this. SBM Bank India is the first bank to receive universal banking licence from the RBI to set up and operate as a scheduled commercial bank through the wholly-owned subsidiary mode.

Note: Mastercard CEO: Ajaypal Singh Banga; Mastercard Headquarters: New York, United States.

SBM Bank CEO: Parvataneni Venkateswara Rao; SBM Bank Headquarters: Port Louis, Mauritius.

BUSINESS AND ECONOMY

1. U.S. GDP Expected to Contract 4.6% in 2020: Goldman Sachs: The Goldman Sachs Group Inc. economists have revised down their estimates for the U.S. economy which is expected to contract 4.6% in 2000, worse than the earlier estimate of 4.2%. However, the growth is expected to rebound to 5.8% in 2021.

2. Citi projects India’s FY21 GDP forecast at -6%: Brokerage firm Citi, has projected India’s GDP for FY21 to contract by 6%. The projection has been lowered by Citi, as compared to its earlier estimate of -3.5%. Citi has reduced the projection for the following reasons: Spread of the Corona Virus, Virus concentration risk and Macro Indicators.

DEFENSE

1. India, Indonesia Coast Guards signs MoU to boost maritime relations: The Indian Coast Guard (ICG) and Bakamla RI (Indonesian Coast Guard) have signed a memorandum of understanding on ‘Maritime Safety and Security’ to boost maritime relations. This MoU will strengthen cooperation by augmenting information exchange mechanisms. This real-time Maritime Domain Awareness will then be the foundation for controlling and responding to incidents of piracy, smuggling, drug trafficking, illegal migration and other such maritime crimes which will bring safety and security to the region and also result in protection of our precious marine environment.

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

Capital of Indonesia: Jakarta; The currency of Indonesia: Indonesian rupiah; President of Indonesia: Joko Widodo.

OBITUARIES

1. Oscar-winning Italian film composer Ennio Morricone passes away: Oscar-winning Italian film composer, Ennio Morricone passed away. He was born in Rome in 1928. He scored more than 500 films. He won his Oscar for his work on Quentin Tarantino’s The Hateful Eight (2015) and also was nominated for his original scores for Terrence Malick’s Days of Heaven (1978), Roland Joffe’s The Mission (1986), Brian De Palma’s The Untouchables (1987), Barry Levinson’s Bugsy (1991) and Giuseppe Tornatore’s Malena (2000).

Daily GK Updates - 6th July, 2020

NATIONAL UPDATES:

1. Vice President Venkahiah Naidu Launches India’s First Social Media Super App ‘Elyments’: Honorable Vice President of India, Shri M Venkaiah Naidu, launched an indigenous social media app ‘Elyments’ on 5th July 2020, through video conferencing. Elyments is a first Made-in-India social media super-app, developed by Bengaluru-based software company, Sumeru Software Solutions Pvt Ltd, in close competition with similar platforms like Facebook, Whatsapp and Instagram. India has more than 500 million social media users, but most of these social media platforms are owned by companies outside India, which creates doubt regarding the privacy of data and data ownership. The initiative is a step forward towards becoming Aatma Nirbhar Bharat and also boosting the economy of the country.

Key Features of Elyments: (1) The app combine the features of popular social media apps and present it on a single unified app. (2) Social media Terms such as – contacts, friends, followers– have all been brought together in Elyments. (3) With end-to-end encryption, Elyments ensures that users data remains safe from prying eyes. All the servers are hosted in India, thus providing a fast and breezy experience. (4) It will provide basic facilities like: Audio/Video conference calls; Private/ Group chats; Secure payments via Elyments Pay; Public profiles that users can Follow/Subscribe; Curated commerce platform to promote Indian brands; Regional voice commands. Elyments is available in more than eight Indian languages. It can be downloaded from all app stores and Google Play Stores across the world. The app has already seen downloads of over 200,000 times.

2. Delhi govt to launch “Paudhelagao, ParyavaranBachao” campaign: Delhi government will launch a mega tree plantation drive under the ‘Paudhelagao, ParyavaranBachao’ campaign. The campaign aims to reduce air pollution by increasing green cover in the national capital. It has been planned that during the campaign, in 17 days, 31 lakh of tree saplings will be planted under the campaign. Out of the 31 lakh saplings, 20 lakh saplings will be of big trees and the remaining 11 lakh saplings will be of shrubs that will be planted on both sides of the road.

Note: Governor of Delhi: Anil Baijal; Chief Minister of Delhi: Arvind Kejriwal; Delhi Environment Minister Gopal Rai.

3. CBSE partners with Facebook to launch free virtual training program for teachers and students: The Central Board of Secondary Education (CBSE) has partnered with social media giant Facebook to launch free and comprehensive training program in virtual mode for teachers and students of its affiliated schools. The first phase of the training program is scheduled from August 2020 to November 2020. The registration process for the first phase of the training program will be held from 6th to 20th July 2020. Schools have to online nominate their teachers and students for the training programs. The participants will also receive a joint e- certificate from CBSE and Facebook on successful completion of the course. In the second phase, CBSE will introduce the training program on digital safety and augmented reality for 30 thousand students in each category.

Note: CBSE chairman: Manoj Ahuja; Headquarters of CBSE: New Delhi.

4. India’s Largest COVID-19 facility ‘Sardar Vallabhbhai Patel COVID19 Hospital in Delhi becomes operational: On 5th July 2020, Delhi Lieutenant Governor Anil Baijal inaugurated the 1000-bedded Sardar Patel Covid Care Centre and Hospital (SPCCCH) at Radha Soami Satsang Beas in Chhatarpur area, located at Air Force land near airport in Delhi. It is the largest COVID-19 facility in India and has been developed by the Defence Research and Development Organisation (DRDO) in a record time of 12 days. The hospital will operated by medical team of doctors, nurses and support staff from Armed Forces Medical Services. The facility has 250 intensive care units (ICU) beds and the capacity to house and treat 10,000 coronavirus patients at the same time. Apart from this, DRDO has decided to name all the different wards of new Sardar Vallabhbhai Patel COVID-19 Hospital in Delhi after the Indian Army troops who lost their lives in the Galwan valley clash last month.

5. Odisha Govt Launches ‘Balaram Yojana’ to Provide Agricultural Loan To Landless Farmers: Odisha government has launched ‘BalaramYojana’ to provide crop loans to landless farmers. Under the new scheme, the landless cultivators will get loans through joint liability groups (JLGs). Under this scheme, the government has set a target to provide farm loans to 7 lakh landless farmers in the next two years. The Institute on Management of Agricultural Extension (IMAGE) will coordinate to implement the scheme at the state level, the Agricultural Technology Management Agency (ATMA) will coordinate at the district level. The scheme was designed in collaboration with the National Bank for Agriculture and Rural Development (NABARD).

Note: Odisha Capital: Bhubaneswar; Governor: Ganeshi Lal; Chief Minister: Naveen Patnaik

6. Former RBI governor Urjit Patel pens book on dealing with NPA issue titled ‘Overdraft: Saving the Indian Saver’: Former RBI Governor, Urjit Patel, has written a book titled ‘Overdraft: Saving the Indian Saver’ which focuses on the non-performing assets (NPAs) issue that has afflicted Indian banking in recent years, its causes and Patel’s efforts as the RBI Governor in dealing with it. The book is likely to be released on 31 July 2020. It has been published by HarperCollins India.

INTERNATIONAL UPDATES:

1. Russian President Vladimir Putin records victory in Presidential polls: President of Russia, Vladimir Putin has recorded a victory in the recently held Presidential polls. With a victory, he is set to stay in power until the middle of the next decade i.e. until 2036. Russians citizens went to the polls to cast ballots in a nationwide referendum on Constitutional Amendments. A preliminary tally of results was released by the Central Election Commission of Russia after processing 50% of ballot, and stated that 76.24% of the citizens voted in support of the amendments.

Note: Russia Capital: Moscow; Currency: Russian Rouble; Prime Minister: Mikhail Vladimirovich Mishustin

2. India-Afghanistan inked 5 MoUs for development of educational infrastructure in Afghanistan: In order to strengthen the bilateral development partnership, the Government of India has inked 5 Memoranda of understanding (MoUs) with Afghanistan under the former’s high impact community development projects (HICDP) programme.  The objective behind these MoUs is the development of educational infrastructure in four Afghan provinces namely Nooristan, Farah, Badakhshan and Kapisa. The projects to be taken up under the five MoUs include the construction of classrooms, a higher education building and a road within the campus of Albironi University.

Note: Afghanistan Capital: Kabul; Currency: Afghan afghani; President: Ashraf Ghani

3. World Zoonoses Day: 6th July: World Zoonoses Day is held every year on July 6 to raise awareness for the risk of zoonotic diseases. Zoonoses are infectious diseases (virus, bacteria and parasites) that can spread from animals to humans, and vice versa, either with direct contact with animals or indirectly, vector-borne or food-borne. It was on July 6, 1885, when Louis Pasteur successfully administered the first vaccine against Rabies virus, which is a zoonotic disease. The day emphasizes about Zoonotic disease and problems caused by them. It urges people to take the right action. The day aims to show how this disease can be prevented after taking precautionary measures.

OTHER UPDATES:

SPORTS

1. Chess Player Akash becomes India’s 66th Grandmaster: The 23 year-old G. Akash from Chennai, Tamil Nadu (TN) becomes the country’s 66th Grandmaster with rating of 2495. Akash got his third GM norm in the National senior chess championship in Majhitar (Sikkim) last year, but his rating fell short of the required Elo mark of 2500. He played another five tournaments across the world to reach that rating. The title was confirmed at the recent meeting of International Chess Federation (FIDE) Council. He has won the national title in 2012.

Note: FIDE Headquarters: Lausanne, Switzerland; President: Arkady Vladimirovich Dvorkovich

2. Quinton de Kock named men’s Cricketer of the Year in CSA’s virtual awards:          White-ball skipper Quinton de Kock was named the men’s ‘cricketer of the year’ at Cricket South Africa’s (CSA) annual awards ceremony, held virtually due to the COVID-19 pandemic. The 27-year-old also bagged the Test cricketer of the year. The complete list of awards:

Men’s Cricketer of the Year: Quinton de Kock

Women’s Cricketer of the Year: Laura Wolvaardt

Test Cricketer of the Year: Quinton de Kock

Women’s ODI Cricketer of the year: Laura Wolvaardt

Men’s ODI and T20 Player of the Year: Lungi Ngidi

Women’s T20 Player of the Year: Shabnim Ismail

Fans’ Favourite Player of the Year: David Miller

International Men’s Newcomer of the Year: Anrich Nortje

Women’s Newcomer of the Near: Nonkululeko Mlaba

BANKING AND FINANCE

1. V Suryanarayanan appointed new MD of Chola MS General Insurance: Cholamandalam MS General Insurance Company has announced the appointment of V Suryanarayanan as its new managing director. Suryanarayanan succeeds S S Gopalarathnam, who retired after serving the company for over 41 years. Cholamandalam MS General Insurance is a Joint Venture between diversified conglomerate Murugappa Group and Japan- based Mitsui Sumitomo Insurance Company Ltd.

BUSINESS AND ECONOMY

1. WhatsApp Launches its 10-week long brand campaign ”It’s Between You” in India: Facebook-owned messaging platform WhatsApp has launched its brand campaign titled ”It’s Between You” in India on 4th July 2020, highlighting the core belief that when privacy is deeply felt people can communicate as their ‘true selves using Whatsapp.’

(1) 60-second ads: Under the campaign, two 60-second ads have been created, showcasing stories about how Indians are using Whatsapp to communicate in a secure manner with their closest relationships. Both the short films highlight how the features of Whatsapp like texts, video calls or even a voice message (which is end-to-end encrypted) help replicate in-person conversations. WhatsApp collaborated with Indian Bollywood director Gauri Shinde and advertising agency BBDO India to create the two sixty seconds ads.

(2) 10 weeks long campaign: The campaign will run for 10 weeks in India on a number of national and regional television channels and digital platforms. These films will be available in English and seven regional languages that include Hindi, Bengali, Assamese, Oriya, Gujarati, Marathi and Kannada.

AWARDS AND HONOURS

1. India’s Freya Thakral wins “The Diana Award 2020”: A 13-year-old student of the British School New Delhi, Freya Thakral has received the 2020 Diana Award for her “Recycler App”. She developed this App to connect users with waste-handlers as a measure to help the ragpickers of Delhi. Recycler App is a web-based mobile application which connects the users with waste handlers. The service through the app is provided in the south Delhi region with plans to extend to the other parts with an aim to transform the lives of the ragpicker community.

Note: Diana Award: The Diana award was established in 1999 in memory of Princess Diana, to recognise the social works and humanitarian efforts of youngsters across the United Kingdom (UK) and around the world. The award is given on July 1st to commemorate the birth anniversary of Princess Diana and it is supported by Prince Willam and Prince Harry.

Note: United Kingdom Prime Minister: Boris Johnson; Capital: London; Currency: Pound sterling

Daily GK Updates - 5th July, 2020

NATIONAL UPDATES:

1. UP Government launches “Mission Vriksharopan-2020” drive: The UP government has launched a mega plantation programme called "Mission Vriksharopan-2020’. Under this campaign, more than 25 crore saplings were planted on 5th July in Uttar Pradesh. Under the Programme, in plantation sites, geo-tagging will be done. The tree plantation drive was launched on the occasion of Guru Poornima and hence several people were seen planting saplings to pay respect to their mentors. The plantation drive also focusses upon prevention of malnutrition, biodiversity conservation and plantation along the banks of Ganga and tributaries.

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

2. Delhi Government launches LEAD portal for easy access to school study material: The government of Delhi has launched an online education portal named LEAD (Learning through E-Resources Made Accessible for Delhi) which will provide over 10,000 instructional material and course content for the students of classes 1 to 12. Through the LEAD portal, students would easily be able to access study material, textbooks, and course content as per the syllabus of the CBSE, NCERT and Delhi government’s curriculum online. It will include digital QR coded textbooks, explanatory videos, practice questions and evaluation. The LEAD portal has been developed by the State Council of Educational Research and Training (SCERT). The Delhi government will connect this portal with the Ministry of Human Resource Development’s (HRD) online portal, DIKSHA for teaching and training material.

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

3. Union Minister Hardeep Singh Puri launches toolkit for Swachh Survekshan 2021: The Union Minister of Housing and Urban Affairs, Hardeep Singh Puri virtually launched the toolkit for Swachh Survekshan-2021. The 2021 edition will be the sixth edition of the annual cleanliness survey of urban India conducted by Ministry of Housing and Urban Affairs. The Swachh Survekshan-2021 indicators will mainly focus on parameters pertaining to wastewater treatment and reuse along with faecal sludge. The minister has also announced a new category of awards titled Prerak Dauur Samman as part of Swachh Survekshan-2021. The Prerak Daaur Samman will have five additional sub- categories. These are: (1) Divya (Platinum), (2) Anupam (Gold), (3) Ujjwal (Silver), (4) Udit (Bronze), (5) Aarohi (Aspiring)

The SS 2021 survey will categorise cities on the basis of six indicator-wise performance criteria, which are, segregation of waste into wet, dry and hazard categories; processing capacity against wet waste generated; processing and recycling of wet and dry waste; construction & demolition (C&D) waste processing; percentage of waste going to landfills; and sanitation status of cities.

4. President Ram Nath Kovind Inaugurates Dharma Chakra Day 2020 Celebrations: President of India Shri Ram Nath Kovind has virtually inaugurated the celebrations for the Dharma Chakra Day 2020 Organized by International Buddhist Confederation (IBC), in Partnership with Union Ministry of Culture, from the Rashtrapati Bhawan at New Delhi on the occasion of Asadha Poornima (also known as Guru Purnima), a Full Moon day or Purnima that occurs in the Hindu month of Ashadha (July) as per Indian sun calendar. It marks Buddha’s First Sermon to his first five ascetic disciples at Sarnath near Varanasi, UP. It is also known as Guru Poornima by both Buddhists as well as Hindus as a day to mark reverence to their Gurus.

Note: Ministers of State (I/C) of Culture: Prahalad Singh Patel.

5. Airtel’s Ajai Puri appointed Chairman of telecom body COAI: Telecom industry body Cellular Operators Association of India (COAI) has appointed Bharti Airtel chief operating officer for India and South Asia, Ajai Puri, as its new Chairman for 2020-21. Puri has replaced Vodafone Idea CEO Ravinder Takkar as the chairman of the COAI on rotation basis. He has been working with Airtel since 2004. Apart from this, Reliance Jio President P K Mittal has been appointed as the vice-chairman of the industry body.

6. Himachal Pradesh to provide tap connections to all rural households by 2022: A meeting via video conferencing was held between Union Jal Shakti minister Gajendra Singh Shekhawat and Himachal Pradesh CM Jairam Thakur.  They discussed the implementation of Jal Jeevan Mission in the state.  During the meeting, Thakur said that the state is planning 100% coverage of Functional Household Tap Connection (FHTC) by August 2022, ahead of national goal by 2024. The Jal Jeevan Mission was launched by PM Modi on 15th August 2019.

7. SERB launches ‘Accelerate Vigyan’ scheme to strengthen scientific research mechanism: The Science and Engineering Research Board has launched a new scheme called ‘Accelerate Vigyan’ to provide a single platform for research internships, capacity building programs and workshops across the country. The primary objective of this inter-ministerial scheme is to encourage high-end scientific research and prepare scientific manpower, which can lead towards research careers and knowledge-based economy. Accelerate Vigyan will initiate and strengthen mechanisms for identifying research potential, mentoring, training and hands-on.

INTERNATIONAL UPDATES:

1. India stands third largest contributor to e-waste in 2019, China tops: UN Report: A United Nations led report has found that India is the third largest contributor to e-waste in the world in 2019. As per the report titled ‘Global E-waste Monitor 2020’, the world dumped a record 53.6 million tonnes of e-waste in 2019. Of this, just 17.4 percent was recycled. China was the biggest contributor to e-waste in the world, contributing 10.1 million tonnes of e-waste. United States was second with 6.9 million tonnes. India, with 3.2 million tonnes, was third. Together these three countries accounted for nearly 38 percent of the world’s e-waste in 2019. The report also says that the way in which we produce, consume and dispose of e-waste is unsustainable, because of the overall damage done to the environment from all the un-recycled waste.

2. Jean Castex named as new French prime minister: French President Emmanuel Macron appointed a public Servant, Jean Castex as the new Prime Minister of France. He has replaced the former french Prime Minister Edouard Philippe who resigned from the post ahead of a government reshuffle. He is known for his role in drafting the strategy to lift lockdown measures in the country in the French Media. He is known as Mr Deconfinement of French Media. He has worked as an advisor to former French President Nicolas Sarkozy. He has several years of work experience in the health Ministry of France.

Note: France Capital: Paris; Currencies: Euro

3. India Ranked 31st in INFORM Risk Index 2020 for Humanitarian crises & Disasters: Research centres INFORM operating under European Commission released its report, “Shared Evidence for Managing Crises and Disasters”. The report ranks the countries based on “INFORM Risk Index” that is calculated considering humanitarian crises and disaster in the region. The index considers the following while framing the index: (1) Natural Factors: Tsunami, Earthquake, Drought, Flood, Epidemic and Tropical Cyclones. (2) Human Factors: Human Conflicts and conflict risks. (3) Socio-Economic factors: Inequality, vulnerable people, deprivation and aid dependency. (4) Institutional and Infrastructure: Governance, Communication, and Access to health systems. Notably, this report is produced by the United Nations Office for the Coordination of Humanitarian Affairs (UN-OCHA) on behalf of all INFORM Partners.

INFORM report has ranked India as the 31st World’s most dangerous place to live due to the high risks of natural disaster, poverty and social injustice with global risk index of 5.4. The report consists of 191 countries with Singapore as the least dangerous nation. North Korea stands at 39th and South Korea was ranked at the 150th. Somalia is ranked World’s 1st most dangerous nation followed by Central African Republic, and Yemen. China was ranked 71, Pakistan at 17, Sri Lanka at 96.

Note: United Nations Office for the Coordination of Humanitarian Affairs (UN-OCHA) Under-Secretary-General for Humanitarian Affairs and Emergency Relief Coordinato: Mark Lowcock; Headquarter: New York, United States (US) & Geneva, Switzerland

OTHER UPDATES:

SPORTS

1. Foreign and Indian coaches to have a 4-year contract: Sports Minister Kiren Rijiju: The Union Minister of Youth Affairs and Sports, Shri. Kiren Rijiju has announced that the Foreign and Indian coaches, who are training Indian Athletes, will now have a four-year contract in alignment with the Olympic cycle. This decision has been taken with focus on the 2024 and 2028 Olympics and ensures that Olympic-bound athletes’ gets to train consistently with the same coach, resulting in improved performance of athletes and ensure more medals for India. The 4-year contract of coaches will be given on the basis of the performance of a coach and recommendation from the respective NSFs. However, the contracts will be reviewed annually and extended on the basis of a coach’s overall performance, indicated by the performance of athletes in major international events.

BANKING AND FINANCE

1. IRDAI sets up nine-member Working Group Headed by G Srinivasan, to study the suitability of offering of Surety Bond by Indian Insurance Industry: Insurance Regulatory and Development Authority of India (Irdai) has decided to examine the feasibility of introducing surety bonds by insurance companies for road contracts in the country. For this, the insurance regulator has set up a nine-member working group to study the legal framework and suitability of the Indian insurance industry or any other sector to offer such bonds. The Working Group will be headed by G Srinivasan, Director, National Insurance Academy. Responsibility of the WG: (1) To study the current Indian legal and regulatory framework with reference to Surety Bonds. (2) To assess the suitability of the Indian Insurance Industry or any other sector to offer Surety Bonds. (3) To provide justification for the recommendations being made by the group, with special reference to the legal and regulatory perspective. (4) The insurance legal/regulatory framework does not permit underwriting of bonds that guarantee performance and bid securities as they are financial instruments and not conventional insurance products.

Note: IRDAI Chairman: Subhash Chandra Khuntia

2. HDFC Bank to offer ‘ZipDrive’ online instant auto loans: HDFC Bank has offered car loan facility titled ‘ZipDrive’ exclusively for HDFC Bank customers. It is an instant New Car Loan process through which can be availed with Net Banking anytime, anywhere. Customers can opt for their choice of car model, dealer, loan amount within eligible limits and tenure online along with on-road 100% funding. Main Features: Instant disbursal of loan, 24/7 Online Loan, Negligible Paperwork. It is a technology-enabled loan product where credit assessment is done by banking software. The offering is now being extended to Tier 2 and 3 cities, such as Bhimavaram in Andhra Pradesh, Hardoi in Uttar Pradesh, Thalassery in Kerala, and Balasore in Odisha among other places, across India.

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

BUSINESS AND ECONOMY

1. NPCI to set up Rs 500-crore Smart data centre in Hyderabad to handle digital transactions: The National Payments Corporation of India (NPCI) is setting up its own ‘Smart Datacentre’ in Hyderabad, Telangana, at an investment of Rs. 500 crore. The foundation stone for this Tier-IV data centre was laid by Telangana Information Technology and Industries Minister KT Rama Rao at Narsingi village in Hyderabad. The Smart Data Centre is being constructed by L&T and will be built with an Internet of Things (IoT) based building- management system that will have eight layers of security, conforming to top global standards of data centres. The centre will protect the systems from natural calamities, ensuring smooth processing of data and further enhance acceptance infrastructure for digital payments so as to encourage customers towards digital transactions.

Note: MD & CEO of NPCI: Dilip Asbe

Daily GK Updates - 4th July, 2020

NATIONAL UPDATES:

1. German tech firm SAP India launches Global Bharat program: The Global Bharat program has been launched by the German technology firm SAP India. The programme has been designed to equip Indian micro, small, and medium enterprises (MSMEs) with digital technologies in order to make them globally competitive. SAP India will also provide MSMEs access to their enterprise resource planning (ERP) software under the Global Bharat program. It will compliment the Indian government’s vision to empower the MSME sector by offering them access to global marketplace, digital skilling for the workforce and transforming business processes.

2. MSME Ministry launches new portal for registration of MSMEs under the name Udyam Registration: The Union Ministry of Micro, Small and Medium Enterprises (MSME) has launched the new fully online process of Classification and Registration of MSME enterprises from 1st July, 2020. For this, the Ministry has launched a new portal called Udyam registration, which will felicitate online, paperless and self-declaration based registration. No documents or proof are required to be uploaded for registering an MSME. An enterprise that will be registered using the new process will be known as Udyam and its Registration Process will be known as ‘Udyam Registration’.

3. ISRO’s Mars Orbiter Mission captures image of Mars’ biggest moon ‘Phobos’: The Mars Orbiter Mission (MOM), also known as Mangalyaan mission, of the ISRO, has captured the image of the closest and biggest moon of Mars, named Phobos. The image was taken on July 1, 2020, by the Mars Colour Camera (MCC) onboard MOM, when the MOM was about 7,200 km from Mars and 4,200 km from Phobos. The Spatial resolution of the image is 210 m. Phobos is largely believed to be made up of carbonaceous chondrites. Stickney, the largest crater on Phobos along with the other craters (Shklovsky, Roche & Grildrig) are also seen in this image.

4. Centre Extends Tenure of Sukhbir Singh Sandhu as NHAI Chairman: The Appointments Committee of the Cabinet has approved the extension of the tenure of senior bureaucrat Sukhbir Singh Sandhu as the Chairman of National Highways Authority of India (NHAI) for a period of six months, beyond July 21, 2020, up to January 21, 2021. Sandhu, a 1988 batch IAS officer of Uttarakhand cadre, took charge of the post in October 2019.

5. DAC approves capital acquisition of various platforms & equipment worth Rs 38,900 crore: Defence Acquisition Council (DAC) accorded approval for Capital acquisitions of various platforms and equipment required by the Indian Armed Forces. Proposals for an approximate cost of 38900 Crore rupees were approved. The equipments are to be manufactured in India involving Indian Defence Industry with participation of several MSMEs as prime tier vendors. The Indigenous content in some of these projects is up to 80 percent of the project cost. The cost of these Design and Development proposals is in the range of 20400 crore rupees.

6. AIIMS, IIT-Delhi develop app to provide real-time information on plasma therapy donors for COVID-19 patients: Resident doctors of AIIMS with the help of IIT-Delhi students have developed a mobile application to track real-time Covid-19 patients in the hospital, who can become potential plasma donors 28 days after recovery along with those who have been discharged. The app named COPAL-19 has details of patients who have already been discharged from AIIMS, those currently undergoing treatment and their blood groups so that patients who require plasma therapy can get it in time without any hassle.

7. NLC India and Coal India form JV to develop solar and thermal power assets: The Central Government-owned NLC India Ltd and Coal India Ltd have inked a Joint Venture Agreement on 3rd July 2020 for formation of a Joint Venture Company (JVC) to develop 5000 Megawatt of Solar and Thermal Power assets across the country. Both companies will have 50:50 equity share in the joint venture company. NLC India Limited is a government of India owned ‘Navratna’ company in the fossil fuel mining sector and thermal power generation. Coal India Limited is an Indian state-owned Maharatna coal mining and refinery company headquartered in Kolkata. It is the largest coal-producing company in the world.

Note: Headquarter of Coal India: Kolkata, West Bengal; Chairman and managing director of Coal India Ltd.: Pramod Agrawal

8. Maharashtra Govt. signed MoU with UKIBC for Sustainable Business Relation: The UK India Business Council signed a Memorandum of Understanding (Mou) with Maharashtra Industrial Development Corporation (MIDC). MIDC is the premier industrial infrastructure development agency of the Government of Maharashtra. This business framework between the UKIBC and Government of Maharashtra will help the State to proactively better its business environment and strengthen its collaboration with British business.

Note: Maharashtra Capital: Mumbai; Governor: Bhagat Singh Koshyari; CM:  Uddhav Thackeray

INTERNATIONAL UPDATES:

1. India Joins as Founding Member of UNGA’s Alliance for Poverty Eradication: The UN General Assembly (UNGA) President Tijjani Muhammad-Bande formally launched the “Alliance for Poverty Eradication”. The Alliance aims to provide a forum for UN member states to raise awareness about the danger that poverty poses to world peace, human rights and sustainable development and also deliberate on measures that need to be instituted so as to get the world economy working in the aftermath of the COVID-19 pandemic. India has joined the Alliance as a founding member. With this, India will not only get success towards poverty alleviation but will also be able to share its experience in areas of agriculture, use of technology and investment from which other nations can learn.

2. ADB Becomes Observer for the Network for Greening the Financial System (NGFS): The Manila, Philippines based Asian Development Bank (ADB) has joined the Central Banks and Supervisors Network for Greening the Financial System (NGFS). ADB’s inclusion as Observer will help the institution to fulfill its corporate strategy, ‘the Strategy 2030’, particularly in tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability; fostering regional cooperation and integration; and strengthening governance and institutional capacity.

What is NGFS: NGFS was launched at the Paris One Planet Summit on 12 December 2017. It is a group of central banks and supervisors willing to share best practices and contribute to the development of environment and climate risk management in the financial sector, while mobilizing mainstream finance to support the transition toward a sustainable economy.

Other Observers of NGFS: The other NGFS Observers are World Bank, the International Finance Corporation, the International Monetary Fund, and the Organisation for Economic Co-operation and Development.

Note: President of Asian Development Bank: Masatsugu Asakawa; Headquarters: Mandaluyong, Philippines; Founded: 19 December 1966

3. World Allergy Week 2020: 28 June to 4 July 2020: Each Year World Allergy Organization (WAO) organises World Allergy Week to raise awareness of the impact of allergy in our communities. The World Allergy Week 2020 is being celebrated from 28 June to 4 July 2020. The theme for 2020 is “Allergy care does not stop with COVID-19.”

4. International Co-operative Day 2020: 04th July: The International Co-operative Day is held annually on the first Saturday in July since 1923 by the International Co-operative Alliance to celebrate the co-operative movement and to increase awareness of cooperatives. In 2020, the International Co-operative Day is being observed on 04 July, 2020. The theme of International Co-operative Day 2020 is:  “Cooperatives for Climate Action”.

OTHER UPDATES:

SPORTS

1. Two-time Olympic winning Chinese Badminton Superstar Lin Dan Announces Retirement: The two-time Olympic badminton champion Lin Dan from China has announced his retirement on 4 July 2020. The 37-year-old, won the Olympics singles titles in Beijing in 2008 and the 2012 London Games. Dan, one of the sport’s greatest singles players, has also won five World Championship and six All England titles.

BANKING AND FINANCE

1. ICICI Bank launches instant loan against mutual fund units: Private sector lender ICICI Bank has launched a facility that enables retail customers to get loan of up to Rs.1 crore instantly by pledging their holdings in both debt and equity schemes of mutual funds. ICICI Bank has launched ‘Insta Loans against Mutual Funds’ in partnership with ‘Computer Age Management Services’ (CAMS). ‘Insta Loans against Mutual Funds’ is an extension of the Insta LAS, an instant loan facility against equity shares, which the bank had launched over a year ago. The fully digital and paperless facility empowers the customers to avail this loan as an overdraft (OD) in a matter of few minutes, without visiting a branch and submitting physical documents.

2. Union Bank revamps Insurance distribution channels post merger: The Union Bank of India has expanded its insurance distribution channels after the amalgamation of Andhra Bank and Corporation Bank with it with effect from April 1, 2020. Now the bank will offer Insurance products of three life insurers, four general insurers and two standalone health insurers. Prior to amalgamation Union Bank was distributing insurance products of one life insurer, 3 general insurer and one stand alone health insurer, under corporate agency tie-up agreements. They were SUD Life Insurance Co Ltd, Bajaj Allianz General Insurance, New India Assurance Co Ltd and Chola M.S. General Insurance Co Ltd and Religare Health Insurance Co Ltd. Post-amalgamation, the bank has decided to continue corporate agency agreement with India First Life Insurance Company Limited and LIC of India under Life Insurance segment, United India Insurance under General Insurance segment and Manipal Cigna Health Insurance under Health Insurance Segment.

BUSINESS AND ECONOMY

1. Reliance launches unlimited free conferencing app JioMeet: Billionaire Mukesh Ambani-led Reliance Industries has launched a video conferencing app, JioMeet, with unlimited free calling facility. It is a close competitor of US-owned Zoom app. The JioMeet video conferencing app is available to work across Android, iOS, Windows, macOS and web since July 2 after beta testing. JioMeet supports HD audio and video call quality and allows up to 100 participants at a time. It offers features like screen sharing, meeting schedule feature and more. Unlike Zoom, it does not impose a 40-minute time limit. Calls can go on for as long as 24 hours, and all meetings are encrypted and password-protected.

2. Intel Capital to buy 0.39% stake in Jio Platforms for Rs 1,894.50 crore: US based Electronic chip maker Intel’s investment arm, Intel Capital to buy 0.39% stake in Reliance Industries Limited (RIL)’s Jio Platforms  for Rs 1,894.50 crore. The announcement was made by Reliance Industries Limited on 3rd July 2020. With this investment, equity value in Jio Platforms rose to Rs 4.91 lakh crore. In a matter of 11 weeks since 22nd April 2020, this was the 12th foreign investment in Jio Platforms. With this investment, RIL holds 74.91% stake in Jio and 25.09% by the investors.

Note: Intel Headquarters: California, U.S; Chief Executive Officer: Robert (Bob) H. Swan

RIL Headquarters: Mumbai, Maharashtra; Chairman & Managing Director: Mukesh Ambani

AWARDS AND HONOURS

1. Indian author Kritika Pandey wins 2020 Commonwealth Short Story Prize: Indian author Kritika Pandey, who won the 2020 Commonwealth Short Story Prize for the Asia region on 2 June 2020, has been declared as the overall winner of the 2020 Commonwealth Short Story Prize. The 29-year-old has won the 5,000 pound award for her story The Great Indian Tee and Snakes. Pandey, a resident of Ranchi, Jharkhand, was chosen the overall winner from among the five regional winners, in a virtual ceremony in London on 30 June 2020.

Daily GK Updates - 3rd July, 2020

NATIONAL UPDATES:

1. World Bank approves $750 mn emergency response fund for India’s COVID-hit MSME sector: The World Bank has approved loan worth $750 million to address the immediate liquidity and credit needs of India’s micro, small, and medium enterprises (MSMEs), severely impacted by the Covid-19 crisis. The World Bank Group will address the above issues along with its private sector arm, the International Finance Corporation (IFC) by supporting the government’s initiatives in order to protect the MSME sector by unlocking liquidity, strengthening Non-Banking Financial Company and Small Finance Bank, and enabling financial innovations. The World Bank’s MSME Emergency Response program will provide financial support to some 1.5 million viable MSMEs. With this, the World Bank’s total commitment has reached to $2.75 billion to support India’s emergency Covid-19 response.

2. Union HRD Minister and Union Health Minister jointly inaugurate Drug Discovery Hackathon 2020 (DDH2020): Union Minister for Human Resource Development Shri Ramesh Pokhriyal ‘Nishank’ and Union Minister for Health and Family Welfare and Ministry of Science and Technology Dr. Harsh Vardhan jointly launched Drug Discovery Hackathon through video conferencing on 2nd July 2020. The Hackathon is a joint initiative of the Ministry of Human Resources Development, All India Council for Technical Education (AICTE) and Council of Scientific and Industrial Research (CSIR). It is a first of its kind national initiative for supporting drug discovery process inviting students, academicians, researchers and professionals to participate in the Hackathon and work towards developing drugs to tackle Covid-19. However, to attract international talent, the hackathon will be open to participation from across the globe as well from varied fields like computer science, chemistry, Pharmacy, medical sciences, basic sciences and biotechnology.

3. GoI declares entire Nagaland as “disturbed area” for 6 months: The Government of India has declared the entire Nagaland as “disturbed area”. The declaration has been made for a further period of six months i.e. till end December. Supporting the declaration, Ministry of Home Affairs mentioned in its notification that the area comprising the whole Nagaland is in a disturbed and dangerous condition and hence the use of armed forces for “the maintenance of public order” is necessary. Nagaland has been placed under the coverage of the Armed Forces (Special Powers) Act (AFSPA) for almost six decades. The Armed Forces (Special Powers) Act (AFSPA) empowers the armed forces to search and arrest, and to open fire if it seems necessary for “the maintenance of public order”.

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

4. IIT Kanpur develops virtual classroom teaching setup ‘Mobile Masterjee’: A team of engineers at the Indian Institute of Technology (IIT), Kanpur has developed an innovative classroom-to-home teaching setup titled ‘Mobile Masterjee’, to overcome the disruption in normal classroom teaching caused due to Covid-19 lockdown. The device is targeted at helping the rural schools to overcome the teaching and learning challenges posed by the pandemic. This virtual classroom system has been designed to record the lectures/instructions by the teachers using smartphones. The gadget allows for fixing the smartphone at various locations and heights, and to self record the lectures for communicating to the students. It also allowed for writing on a sheet of paper apart from giving the option of recording blackboard teaching. It is lightweight and compact, and has adjustments to fit sheets/book on it for delivering instructions to pupils.

5. IIT Madras launches world’s first online BSc degree in Programming and Data Science: The Indian Institute of Technology (IIT) Madras has introduced world’s first-ever online BSc degree programme in Data Science and Programming. The programme was launched by Union Human Resource Development (HRD) Minister Ramesh Pokhriyal ‘Nishank’ and Minister of State for HRD Sanjay Dhotre. The course will be offered in three different stages– Foundational Programme, Diploma Programme and Degree Programme.

6. Parminder Chopra assumes charge as Director (Finance) of PFC: Parminder Chopra has been appointed as the Director (Finance) of Power Finance Corporation (PFC). She succeeded N.B. Gupta whose tenure ended on June 30, 2020. Prior to this, she was working as an Executive Director (Finance) at Power Finance Corporation (PFC). She has 32 years of experience in handling crucial and core finance functions like fund mobilisation, asset-liability management, stressed asset resolution.

7. ‘Surakshit Dada-Dadi, Nana-Nani Abhiyan’ launched to ensure well-being of Senior Citizens: Surakshit Dada-Dadi, Nana-Nani Abhiyan is a collaborative effort between NITI Aayog, Piramal Foundation, and 25 Aspirational Districts to ensure the well-being of 2.9 million Senior Citizens during the COVID-19 pandemic. NITI Aayog has launched this campaign following the appeal by Prime Minister Narendra Modi to take care of senior citizens. Piramal foundation with the help of social welfare department and district administration is implementing this campaign in Surendranagar district.

8. Venkaiah Naidu Virtually Releases book ‘Future of Higher Education – Nine Mega Trends’ by CA V Pattabhi Ram: The Vice President of India, Shri. M. Venkaiah Naidu virtually released a book titled “Future of Higher Education – Nine Mega Trends”, during an event hosted by ICT Academy. The book has been authored by CA V Pattabhi Ram, Author, Public Speaker, and Teacher. It is based on a survey of around 5000 educators across India, who were part of ICT Academy’s “SkyCampus” Digital Knowledge Series. The book will cover the new norms in the key areas of higher education such as Student-Teacher relationship, Learning methods, Laboratories, Examinations, etc; all taking a paradigm shift during this COVID pandemic.

Note: ICT Academy Headquarters: Chennai, Tamil Nadu; ICT Academy Chairman: Lakshmi Narayanan.

9. Sanjay Dwivedi appointed as Director General of IIMC: The Appointments Committee of the Cabinet (ACC) has approved the appointment of Professor Sanjay Dwivedi as the Director General of the Indian Institute of Mass Communication (IIMC). He is presently serving as the Registrar of Makhanlal Chaturvedi National University of Journalism and Communication, Bhopal.

INTERNATIONAL UPDATES:

1. Indra Mani Pandey appointed as India's Permanent Representative to UN: Senior diplomat Indra Mani Pandey (1999 batch IFS officer) has been given charges of India's next Permanent Representative to United Nations and other international organisations in Geneva. He will succeed Rajiv K Chander. He is currently the additional secretary in Ministry of External Affairs (MEA). He has served as Indian Representative to Damascus, Cairo, Islamabad, Kabul, Muscat, and Geneva. He also served as joint secretary of Disarmament and International Security Affairs, MEA

2. Edouard Philippe resigns as Prime Minister of France: The French government led by Prime Minister Edouard Philippe and his government submitted their resignations on 03 July 2020. French President Emmanuel Macron named Jean Castex, as the country’s new prime minister. The 49 year old Edouard Philippe had served as Prime Minister of France from 15 May 2017 to 3 July 2020.

Note: France Capital: Paris; Currencies: Euro, CFP franc

3. India-Bangladesh sets up 50:50 Joint Venture Company for LPG business in Bangladesh: The State-owned Indian Oil Corp (IOC) and Bangladesh’s Beximco LPG have entered into an agreement for the formation of a 50:50 Joint Venture Company (JVC) for importing liquefied petroleum gas in Bangladesh. The agreement was signed between IOC Middle East FZE, Dubai, a wholly-owned subsidiary of IOC, and RR Holdings Ltd, UAE, the holding company of Beximco LPG of Bangladesh. The Joint Venture Company will help reduce the cost of import of LPG in Bangladesh and make it more affordable for the consumers of the country.

Note: Prime Minister of Bangladesh: Sheikh Hasina; Capital: Dhaka; Currency: Taka.

Chairman of Indian Oil Corporation: Sanjiv Singh.

4. International Plastic Bag Free Day: 03rd July: The International Plastic Bag Free Day is held on July 3 around the world to spread awareness that a plastic bag free world is possible and that sound environmental alternatives to single use plastic bags are available. 2020 is the 11th edition of the celebrations. The day is an initiative by Bag Free World for the purpose of getting rid of the single-use of plastic bags around the world and promoting environmental conservation by encouraging us all to stay away from the use of plastic bags and instead look for more eco-friendly alternatives.

OTHER UPDATES:

SPORTS

1. Ravindra Jadeja Rated As India’s Most Valuable Test Cricketer In 21st Century by Wisden Magazine: Indian all-rounder Ravindra Jadeja has been named as India’s most valuable Test player in the 21st century by the Wisden magazine. With the ‘Most Valuable Player’ (MVP) rating of 97.3, the 31-year-old Jadeja is also rated as the second most valuable Test player worldwide, only after Sri Lanka legend Muttiah Muralitharan. Since making his debut in 2012, Jadeja has played in 49 Tests, scoring 1,869 runs with one century and 14 fifties. He has picked up 213 Test wickets. Wisden used CricViz, a detailed analysis tool in cricket to analyse his performance.

Note: President of BCCI: Sourav Ganguly; Headquarters of BCCI: Mumbai, Maharashtra.

BANKING AND FINANCE

1. GoI approves Special liquidity scheme for NBFCs/HFCs: The Government of India has launched a Special Liquidity Scheme worth Rs. 30,000 crore for improving the liquidity position of Non-Banking Financial Company (NBFCs) and Housing Finance Company (HFCs). 

Who will manage the Scheme: The Scheme will be managed by SPV (SLS Trust). SPV (SLS Trust) has been set up by SBICAP which is a subsidiary of the State Bank of India. RBI will provide funds for this Scheme by subscribing to government-guaranteed special securities issued by the SLS Trust. The total amount of such securities issued outstanding shall not exceed Rs. 30,000 crores at any point of time. The Scheme was announced by Union Minister for Finance Nirmala Sitharaman on 13th March 2020.

Aim of the scheme: to ensure availability of fund to NBFC and HFC sector and hence improve the liquidity position of NBFCs/HFCs.

Duration of the scheme: The Scheme will remain open for 3 months for making subscriptions by the Trust. The period of lending (CPs/NCDs of NBFCs/HFCs for short duration of upto 90 days) by the Trust shall be for a period of upto 90 days.

Use of Fund by NBFC and HFC: NBFC and HFC cannot use this financing to expand assets. The financing would be used by the NFBCs/HFCs only to repay existing liabilities. Outlay of the Scheme: Rs 30,000 Crore

Eligibility criteria for NBFC and HFC: CRAR/CAR of NBFCs/HFCs should not be below the regulatory minimum, i.e., 15% and 12% respectively as on March 31, 2019; the net non-performing assets should not be more than 6% as on March 31, 2019

2. Government extends the term of Union Bank of India’s CEO Rajkiran Rai by another two years: The government of India has extended the term of Union Bank of India’s Managing Director (MD) and Chief Executive Officer (CEO) Rajkiran Rai by two-years amid the bank’s ongoing merger exercise. Rai’s term was to end on June 30, 2020. His term has now been extended till May 31, 2022, or until further orders, whichever is earlier. Rai was appointed the MD and CEO of Union Bank of India in May 2017 for a period of three years. It must be recalled that Union Bank has been merged with Andhra Bank and Corporation Bank, which came into effect on April 1, 2020. The merger has made Union Bank the fifth largest public sector bank in the country with assets of over Rs 14.5 lakh crore.

BUSINESS AND ECONOMY

1. Care Ratings Forecast India’s GDP to contract by 6.4% in FY21: Care Ratings has revised India’s GDP growth forecast for the current financial year 2020-21 to (-) 6.4 percent. The rating agency had earlier projected a decline in GDP growth of 1.5-1.6 per cent in FY21. This decline is because the economic activity continues to be under restriction due to the lockdown on account of the COVID-19 pandemic.

AWARDS AND HONOURS

1. Two Indian Americans to be honoured with '2020 Great Immigrants' Award: Author Siddhartha Mukherjee and Harvard’s Economics Professor Raj Chetty have been named for '2020 Great Immigrants' awards by the Carnegie Corporation of New York. The award is being given to 38 immigrants this year. Siddhartha Mukherjee has been honoured for using “his communication skills to educate the public and build awareness about COVID-19 through forums and his widely read essays.” Raj Chetty made into the list for launching “a real-time data tracker to measure the economic impact of the pandemic and assisted decision-makers as they implemented new public policies.” Siddharth Mukhjerjee has been conferred with Pulitzer Prize for 'The Emperor of All Maladies: A Biography of Cancer' and Padma Shri in 2014.

DEFENSE

1. India and Japan conduct PASSEX naval exercise in Indian Ocean Region: The Indian and Japanese navies conducted a small exercise PASSEX (passing exercise), towards the Malacca Strait in the Indian Ocean Region (IOR). From India, Rajput-class destroyer INS Rana and Kora-class missile corvette INS Kulish, took part in the exercise and from Japan, JS Shimayuki and JS Kashima participated. It was 15th PASSEX exercise undertaken by the navies of the two nations in the last 3 years. PASSEX exercise is conducted for the goodwill training and understanding

Note: Capital: Tokyo; Currency: Japanese yen; Prime minister: Shinzō Abe

OBITUARIES

1. West Indies former cricketer Everton Weekes passes away:  West Indies former cricketer, Everton Weekes passed away. He made his first-class debut at the age of 19-year and his Test debut in 1948 at 22. His test career spanned between 1948 to 1958, in which he played 48 Tests & scored 4455 runs at an average of 58.62. He retired in 1958, after which he had served as a coach, administrator, and ICC match referee. Weekes was honoured with Knight of the Order of St Michael and St George (KCMG) for his services to cricket in 1995 & was inducted into the ICC Hall of Fame in 2009.

2. Renowned Choreographer Saroj Khan passes away in Mumbai: Renowned Bollywood choreographer Saroj Khan (71 years) passes away in Mumbai due to cardiac arrest. She joined the Indian film industry as a child artiste, playing the younger Shyama in Nazarana. She became background dancer in 1950s films like Bimal Roy’s Madhumati and later became an assistant choreographer. Her 1st independent choreography was in Geeta Mera Naam. She got famous with the song Hawa Hawai. She choreographed nearly 2000 songs from movies Tezaab, Veer-Zaara, Lagaan, Tanu Weds Manu Returns, Manikarnika. The legendary artiste was a recipient of three National Awards for films Devdas, Jab We Met and Sringaram (Tamil). She won Filmfare Awards for movies like Hum Dil De Chuke Sanam, Guru, Khalnayak and Chaalbaaz.