Daily GK Updates - 11th July, 2020

NATIONAL UPDATES:

 

1. Skill Development Ministry Launches AI-based portal ASEEM to bridge Demand-Supply gap of Skilled Workforce: Mahendra Nath Pandey, Minister of State for Skill Development and Entrepreneurship (MSDE) launched ‘Aatamanirbhar Skilled Employee Employer Mapping (ASEEM)’ portal on 10 July 2020 to help skilled people find sustainable livelihood opportunities. ASEEM is an Artificial Intelligence-based platform to improve the information flow and bridge the demand-supply gap in the skilled workforce market. On one hand, the employers will be able to assess the availability of skilled workforce and formulate their hiring plans while on the other hand the portal will strengthen the career pathways of skilled workers by exploring emerging job opportunities especially in the post COVID era. The ASEEM portal can be accessed at smis.nsdcindia.org/. It is also available as an APP. ASEEM has been developed and will be managed by National Skill Development Corporation (NSDC) in collaboration with Bengaluru-based company Betterplace, specialising in blue collar employee management.

 

2. Rajasthan launches campaign “Pure for Sure” to ensure purity of milk & dairy products: The Rajasthan state government has launched a week-long campaign “Pure for Sure” to ensure purity of milk and its products. The campaign will run from July 8-July 14, 2020. Under the campaign samples of milk and dairy products will be collected for testing at Food Testing Laboratory available at the divisional level. Information related to samples will be provided by the food safety officers on the FSSAI app on daily basis.

 

3. Himachal’s Nadaun police station among best in country: Nadaun police station in Hamirpur district of Himachal Pradesh has been ranked among the best police stations of the country and the top most police station of the state in the annual ranking of police stations for 2019. The Certificate of Excellence was provided to Nadaun police station by Union Home Minister Amit Shah. Recently, the ranking of police stations is carried out by the Ministry of Home Affairs, Government of India and the same was released by the Union Home Minister in a ceremony during DGPs Conference. Following criteria are used to rank the police stations: standard of service delivery, identifying techniques of improvement in policing, addressing of cases and infrastructure.

Note: Chief Minister of HP: Jairam Thakur; Governor of HP: Bandaru Dattatraya.

 

4. Flipkart tie-up with Karnataka Govt to promote Art & Craft: Flipkart has signed a Memorandum of Understanding (MoU) with the Department of Micro, Small & Medium Enterprises (MSME) and Mines of Government of Karnataka to promote the arts, crafts and handloom sector of Karnataka. This MoU will unite the Flipkart Samarth Programme with the brands based in Karnataka like Cauvery and Priyadarshini Handlooms, part of Karnataka Handlooms Development Corporations.

Note: Flipkart Chief Executive Officer (CEO): Kalyan Krishnamurthy; Chief Operating Officer (COO): Sriram Venkataraman; Head Office: Bengaluru, Karnataka.

Karnataka chief Minister: B. S. Yediyurappa; Governor of Karnataka: Vajubhai Rudabhai Vala; Capital of Karnataka: Bengaluru.

 

5. All India Tiger Census 2018 sets new Guinness World Record for largest camera-trap wildlife survey: The fourth edition of the All India Tiger Estimation 2018 has created the Guinness World Record for being the world’s largest camera trap wildlife survey. The All India Tiger Estimation is conducted every four year since 2006, by the National Tiger Conservation Authority with technical support from the Wildlife Institute of India. In the fourth cycle of the survey, conducted in 2018-19, Camera traps (outdoor photographic devices fitted with motion sensors that start recording when an animal passes by) were placed in 26,838 locations across 141 different sites. Key Highlights of the survey:

These cameras surveyed an effective area of 121,337 square kilometres (46,848 square miles). A total of 34,858,623 photographs of wildlife were captured by the 26,838 camera traps installed. Of the total photographs 76,651 were tigers and 51,777 were leopards while the remaining were other native fauna. The photographs of tigers included 2,461 individual tigers (excluding cubs). As per the survey, India has an estimated 2,967 tigers or 75 percent of the global tiger population.

 

6. DCGI approves Itolizumab for restricted emergency use on COVID-19 patients: The Drugs Controller General of India (DCGI) has approved Itolizumab for restricted emergency use on COVID-19 patients with moderate to severe acute respiratory distress syndrome. DCGI has approved Itolizumab injection for the treatment of cytokine release syndrome in moderate to severe acute respiratory distress syndrome in patients due to COVID-19. Itolizumab injection (drug of Biocon Limited) used for the treatment of patients with active moderate to severe psoriasis.

 

7. Illustrated biography of Dalai Lama titled “His Holiness the Fourteenth Dalai Lama: An Illustrated Biography” written by Tenzin Geyche Tethong, to be released in October 2020: The biography of the current Dalai Lama titled “His Holiness the Fourteenth Dalai Lama: An Illustrated Biography”, is set to hit the stands in October 2020. The 352-page book has been written by Tenzin Geyche Tethong, one of the Dalai Lama’s closest aides and advisor of over 40 years. The book is published by Roli Books. The book features nearly 400 never seen before photographs and documents from the life and times of the Tibetan spiritual leader. It also has a personal message by the spiritual leader, along with a foreword by his younger brother, Tenzin Choegal.

 

INTERNATIONAL UPDATES:

 

1. ISRO to launch Brazil’s Amazonia-1 satellite: Indian Space Research Organization (ISRO) will launch Brazil’s Amazonia-1 satellite. This satellite is onboard the Polar Satellite Launch vehicle (PSLV) as a primary payload by August 2020. This satellite has been locally designed and tested in Brazil. It will be the first satellite for Earth observation; it will not be a hitchhiking satellite. The Amazonia-1 satellite which PSLV will launch will help in monitoring and observing the deforestation of the Amazon region. With the recent fires in the Amazon region, the role of this satellite will be much more crucial for the countries. The images sent by the Brazilian satellite will also provide help in the vegetation and agricultural areas.

Note: ISRO Director: K. Sivan, Headquarters: Bengaluru; Established: 1969.

Capital of Brazil: Brasilia; President of Brazil: Jair Bolsonaro; Currency of Brazil: Brazilian Real.

 

2. World Population Day: 11th July: World Population Day is observed globally on 11th July every year. This day is observed to raise awareness among people about the impact of a growing population and issues including gender equality, the importance of family planning, poverty, maternal health, human rights, etc. This year theme of World Population Day 2020:’ Putting the brakes on COVID-19: Safeguarding the health and rights of women and girls’. The day was established by the Governing Council of the United Nations Development Programme in 1989 in commemoration of the day in 1987, when the world reached the population of 5 billion.

Note: United Nations Population Fund Headquarters: New York, United States; United Nations Population Fund Executive Director: Natalia Kanem; United Nations Population Fund Founded: 1969.

 

OTHER UPDATES:

 

SPORTS

 

1. Manipur’s Gyanendro Ningombam becomes new Hockey India president: The Hockey India Executive Board has named Gyanendro Ningombam, as the new Officiating President of Hockey India. Earlier, Mohd Mushtaque Ahmed has resigned as Hockey India president due to personal commitments. Ningombam had served as the CEO of Manipur Hockey (2009 - 2014) and vice president of the sport’s governing body till 2018. Hockey India is the governing body with an exclusive mandate to direct and conduct all activities for both men and women's hockey in India.

Note: Hockey India Founded: 20 May 2009; Hockey India Headquarters: New Delhi.

 

BANKING AND FINANCE

 

1. IRDAI Constitutes 9-member Working Group under Suresh Mathur to study feasibility of Indian Pandemic Risk Pool: The Insurance Regulatory and Development Authority of India (IRDAI) has formed a 9-member working group to examine the feasibility of ‘Pandemic Risk Pool’. The working group will be chaired by Suresh Mathur, Executive Director of IRDAI. The main aim to this risk pool will be to address various risks which have been triggered by the Covid-19 pandemic as well as offer protection in case of a similar crisis in the future. The panel will explore the possibility of addressing these risks and any other related risks arising out of a Pandemic through the mechanism of a “Pandemic Risk Pool” and form the structure and operating model for the pool

 

2. Union Bank of India reduces MCLR by 20 basis points across tenors: Union Bank of India has announced a reduction in its marginal cost of funds-based lending rate - MCLR by 20 basis points across tenors. The revised one-year MCLR stands at 7.40 per cent (earlier 7.60 %). SBI has also reduced its MCLR by 5-10 basis points for shorter tenors. Indian Overseas Bank has cut its MCLR by up to 25 bps across tenors. Canara Bank and Bank of Maharashtra have also reduced their MCLRs by 10 bps and 20 bps, respectively, across all tenors.

 

BUSINESS AND ECONOMY

 

1. Global economy to contract by 5.2 pc in 2020: D&B Report: The global economy is likely to contract by 5.2 percent in 2020, according to Dun and Bradstreet’s (DNB) Country Risk and Global Outlook Report that covered 132 countries. The reason behind this decline is the coronanvirus, which is still spreading, and the economic prospects of countries across the world are uncertain.

 

AWARDS AND HONOURS

 

1. UNIFIL’s Indian Battalion wins annual environment award: UNIFIL’s Indian Battalion (INDBATT), the Indian battalion stationed at United Nations Interim Force in Lebanon (UNIFIL) has won the first position in the Annual Environment Award. INDBATT has won the award for a project that seeks to increase awareness and decrease waste generation by planting seedlings in their positions and areas of responsibility, preventing littering, reusing plastic bottles, building green houses and building compost pits. In all seven entities of the UNIFIL Mission were awarded for initiating and implementing innovative projects to preserve environment. The “Annual Environment Awards” were launched by UNIFIL in December 2019 to recognise environmental achievements within the Mission’s area of operations. UNIFIL is a UN-NATO peacekeeping mission established on 19 March 1978 by United Nations Security Council, to confirm Israeli withdrawal from Lebanon which Israel had invaded five days prior, in order to ensure that the government of Lebanon would restore its effective authority in the area.

Note: UNIFIL Mission Leadership: Major General Stefano Del Col.

 

DEFENSE

 

1. Boeing delivers final Apache & Chinook helicopters to IAF: Boeing India has delivered the last of the five AH-64E Apache attack helicopters to the Indian Air Force (IAF) at the Hindan Air Force Station. Boeing has completed delivery of all 22 new AH-64E Apache to the Indian Air Force (IAF). The Apaches were deployed at the Leh airbase as part of the forward movement of assets, amid the stand-off with China in Ladakh. Boeing also handed over the last five of the 15 CH-47F(I) Chinook heavy-lift helicopters to the IAF. India contracted 22 Apache helicopters and 15 Chinook helicopters from Boeing through the Foreign Military Sales programme of the U.S. government in September 2015 under a $3 billion deal.

Note: Headquarters of Boeing: Chicago, United States; Boeing Founded: 15 July 1916; President and Chief Executive Officer of Boeing: David L. Calhoun.

 

OBITUARIES

 

1. American Musician Charlie Daniels passes away: Legendary American Musician Charlie Daniels (83 years) passes away in Tennessee, US. He was a singer, songwriter and multi-instrumentalist and is known for his contributions to Southern rock, country, and bluegrass music. He was best known for ‘The Devil Went Down to Georgia’ for which he won the Grammy Award for Best Country Vocal Performance in 1979. He was inducted into Cheyenne Frontier Days Hall of Fame (2002), Grand Ole Opry, and Country Music Hall of Fame (2016). 

Daily GK Updates - 10th July, 2020

NATIONAL UPDATES:

1. Cabinet approves Rs 1 Lakh Crore ‘Agriculture Infrastructure Fund’: The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to a new pan India Central Sector Scheme-Agriculture Infrastructure Fund. Agri Infra fund will be managed and monitored through an online Management Information System (MIS) platform. The National, State and District level Monitoring Committees will be set up to ensure real-time monitoring and effective feed-back.

Total Outlay: Rs 1 Lakh Crore; Duration: 10 Years, from FY2020 to FY2029; Purpose: Provide medium – long term debt financing facility to entrepreneurs, start-ups, agri-tech players and farmer groups for setting up infrastructure and logistics facilities through interest subvention and financial support; Beneficiaries: Primary Agricultural Credit Societies (PACS), Marketing Cooperative Societies, Farmer Producers Organizations (FPOs), Self Help Group (SHG), Farmers, Joint Liability Groups (JLG), Multipurpose Cooperative Societies, Agri-entrepreneurs, Startups, Aggregation Infrastructure Providers and Central/State agency or Local Body sponsored Public Private Partnership Project; Loan Disbursement Stages: 4 Years. Rs. 10,000 crore will be disbursed in the current year (2020-21) and Rs. 30,000 crore each in next three financial years. Interest subvention: 3% per annum up to a limit of Rs. 2 crore for a maximum period of seven years; Credit guarantee coverage: Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) scheme for a loan up to Rs. 2 crore.

2. PM Modi delivers inaugural address at India Global Week 2020: Prime Minister Shri Narendra Modi delivered the inaugural address on Day 1 of the India Global Week 2020, a three – day virtual conference, being organised in the United Kingdom, from 9 July to 11 July 2020. The theme for the event is ‘BeTheRevival : India and a Better New World’. India Global Week 2020 will have 5000 global participants from 30 nations across +75 sessions and +250 speakers for incisive global discussion and lively debate. This is for the first time the prime minister addressed a global audience since the outbreak of the Coronavirus pandemic. India Global Week is a pltform where India meets the World, and the World meets India, address some of the burning issues around India’s performance and impact on the world stage.

3. Asia’s Largest and World’s Second Largest Data Centre Inaugurated In Mumbai: Union Minister for Communications, Electronics and IT, Shri Ravi Shankar Prasad and Maharashtra chief minister Uddhav Thackeray jointly inaugurated the second-largest Tier IV data centre of the world in Mumbai on 8th July 2020, through online mode. The world-class ‘Yotta NM1 data centre’ building has been set up at Mumbai’s Panvel data center park, to cater to the needs of engineering and real estate businesses. It is the largest of its kind data centre in India and Asia, as well as the second largest in the world. The Yotta NM1 facility has been developed and owned by the Hiranandani Group through its fully owned subsidiary, the Yotta Infrastructure Group. The Yotta NM1 offers 7200 racks and 50MW of power with 48 hour backup. The data centre has been awarded the tier IV Design Documents Certification by Uptime Institute, USA, a globally recognised certification for data center design issued in over 98 countries. It is the first of five data centre buildings coming up at the Integrated Yotta Data Center Park, with an overall capacity of 30,000 racks and 210MW power.

4. Odisha CM Naveen Patnaik Launches India’s first Space Technology & Artificial Intelligence based system ‘BLUIS’ to monitor Government Lands: In Odisha, Chief Minister Naveen Patnaik launched Bhubaneswar Land Use Intelligence System (BLUIS), to monitor changes in all government land in the capital city Bhubaneswar by leveraging high resolution satellite imagery. With this, Odisha has become the first state in the country to tap space technology and artificial intelligence for safeguarding government lands. BLUIS is a geo-tagged repository of all the government lands in Bhubaneswar, created through high-resolution satellite imagery. Under BLUIS, a web and mobile-based solution has been developed to monitor changes in all government lands in Bhubaneswar. The mobile app also enables crowdsourcing cases of unauthorised land use and can also be used by citizens to report any unauthorised development taking place over geo-tagged government lands.

5. IIT-Hyderabad collaborates with NVIDIA to establish India’s first AI research centre: The Indian Institute of Technology Hyderabad (IIT-H) has collaborated with NVIDIA, a US-based multinational technology company, to establish India’s first ‘NVIDIA AI Technology Centre’(NVAITC) to accelerate research on Artificial Intelligence and its commercial adoption. The operations at the state-of-the-art facility commenced on July 9, 2020. The centre will focus on advancing AI research in the areas of Agriculture and Smart Cities besides Language Understanding, increasing crop yield, support safer transportation systems and better ways of managing traffic, among others.

Note: Director of IIT-H: B.S.Murty.

NVIDIA Headquarters: California, United States; NVIDIA Co-Founder, President and CEO: Jensen Huang

6. Sijo George appointed to Centre’s committee on STIP 2020: Sijo Kuruvilla George has been appointed to the Central Government’s committee on Science, Technology and Innovation Policy 2020 (STIP 2020). He is a founding CEO of Startup Village and founder of Re-think Foundation. With this, he has become the part of the eight-member panel which is led by Harkesh Mittal, who also heads the Department of Science and Technology. The Science, Technology and Innovation Policy 2020 (STIP 2020) was formulated by the Department of Science and Technology and Principal Scientific Advisor of the Union government.

7. A.K. Srikumar and Rupa Srikumar authors novel on 1962 Indo-China War titled ‘Mahaveer: The Soldier who never died’: Amid the rising tensions between India and China, the award winning author A.K. Srikumar along with his wife, Rupa Srikumar, has come up with a novel titled ‘Mahaveer: The Soldier who never died’ that tells the tale of the Indo-Chinese battle of Nuranang in 1962. It is a patriotic story of courage and selfless love of the Jaswant Singh Rawat, one of India’s legendary Garhwali soldiers from the war. The novel is published by highly noted Indian publishing house Rupa Publications.

8. National Fish Farmers’ Day: 10th July: The 20th edition of the National Fish Farmers’ Day was celebrated on 10 July 2020 by the Department of Fisheries, Ministry of Fisheries, Animal Husbandry and Dairying in association with the National Fisheries Development Board (NFDB). The day is commemorated annually in remembrance of scientists Dr K H Alikunhi and Dr. H.L. Chaudhury who had invented induced breeding technology of Indian major carps on 10 July 1957.

INTERNATIONAL UPDATES:

1. 15th India-EU Summit to be held on 15th July virtually: 15th meeting of India-European Union Summit will be held on 15th July in virtual mode. It will be co-chaired by PM Narendra Modi, President of European Council Charles Michel and President of European Commission Ursula von der Leyen. India-EU Summit will review cooperation covering political and security relations, trade and investment and economic cooperation. It will also discuss COVID-19 related development. 14th India-EU Summit was held on 6 October 2017 in New Delhi

2. India achieves 8th rank for cancer preparedness among 10 Asia-Pacific countries: India has been ranked at eighth position among 10 Asia-Pacific countries for cancer preparedness, according to the Economist Intelligence Unit (EIU) report titled “Cancer preparedness in Asia-Pacific: Progress towards universal cancer control”. The report is based on the findings from the EIU’s Index of Cancer Preparedness. India stood 8th with an overall score of 51.6 out of 100, which is below the regional average of 66.5. Australia (92.4) has topped the regional list, followed by South Korea (83.4) and Malaysia (80.3). The 10 Asia-Pacific countries in the list are Australia, China, India, Indonesia, Japan, Malaysia, the Philippines, South Korea, Thailand and Vietnam. Vietnam (44.5) and the Philippines (42.6) are the only nations behind India.

OTHER UPDATES:

SPORTS

1. Egyptian world squash champion Raneem al-Welily announces retirement: World’s top-ranked women’s squash player, Raneem El Welily from Egypt has announced her retirement. The 31-year-old was the first Arab woman to be world No. 1 in any sport. El Welily first took the top ranking in 2015 and after that again since December 2018. She was officially named world champion in Manchester in 2017.

BANKING AND FINANCE

1. RBI: Tamil Nadu tops market borrowings among States:  According to data from the Reserve Bank of India (RBI), Tamil Nadu has topped market borrowings among States in the country. Tamil Nadu has accounted for 17% of the borrowings done through the issue of bonds (known as state development loans). The state is followed by Maharashtra ₹25,500 crores (14%), Andhra Pradesh ₹17,000 crores (9%) and Rajasthan ₹17,000 crores (9%).

Tamil Nadu borrowings: Tamil Nadu raised ₹1,250 crores at the low-interest rate of 6.63% for the 35-year bonds and ₹1,250 crores at the rate of 4.54% for the three-year bonds in the auction conducted by RBI. On July 7, Tamil Nadu borrowed an additional amount of ₹500 crores rather than the ₹2,000 crores originally planned. The State had planned to raise ₹2,000 crores through the issue of bonds of ₹1,000 each with tenures of 35 years and 3 years respectively. Tamil Nadu had an option to raise a further ₹250 crore in each of these securities, through what is known as the ‘greenshoe’ option.

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

2. Union Bank of India CMD Rajkiran Rai gets 2-year extension:  The term of Rajkiran Rai as managing director and CEO of Union Bank of India has received an extension for a period of  two-year from the government of India. He will now serv as the managing director and CEO of Union Bank of India till May 31, 2022. He was appointed as the managing director of Union Bank on July 1, 2017, for a period of 3 years until June 30, 2020. Union Bank of India (UBI) was the anchor bank for both Andhra bank and Corporation bank which came into effect on 1 April 2020.

Note: UBI Headquarters: Mumbai.

BUSINESS AND ECONOMY

1. India’s GDP to contract by 3% in FY21: BofA: The US brokerage firm BofA Securities has projected the India’s GDP to contract by 3 percent in FY21 because of the coronavirus pandemic, assuming the economy is opened up fully from August 2020. The GDP is likely to grow at 9 percent in FY22, expects BofA, the multinational investment bank division under the auspices of Bank of America.

AWARDS AND HONOURS

1. IOC receives EU Green Building Leadership Award 2020: The headquarters of International Olympic Committee (IOC) in Lausanne has been awarded the European 2020 US Green Building Council (USGBC) Leadership Award. In addition to receiving the highest number of points of any LEED v4-certified new construction project to date, the Olympic House is the first international headquarters and the second building overall to obtain the highest (Platinum) level of the Swiss Sustainable Construction Standard (SNBS). The award was announced by the USGBC which recognises “those advancing the development of sustainable, healthy and resilient buildings, cities and communities in regions around the world”. It has been given to five organisations that are “a model for how LEED can be used to improve communities, support human health and well-being, and contribute to a more sustainable future for all”.

Note: International Olympic Committee Headquarters: Lausanne, Switzerland; International Olympic Committee President: Thomas Bach.

OBITUARIES

1. Ivory Coast PM Amadou Gon Coulibaly passes away:  Prime Minister of Ivory Coast, Amadou Gon Coulibaly passed away. The minister became unwell during a weekly cabinet meeting and was taken to a hospital where he died. He was also chosen as the ruling party Rally of Houphouetists for Democracy and Peace (RHDP)’s candidate for October’s presidential election. He served at many positions which includes technical advisor, senior civil servant, deputy and mayor of Korhogo, agriculture minister, cabinet minister. After serving as secretary general of the presidency for six years, he became the prime minister of Ivory Coast in January 2017.

Note: President of Ivory Coast: Alassane Ouattara; Ivory Coast Currency: West African CFA Franc; De facto capital: Abidjan; Administrative capital (since 1983): Yamoussoukro.

2. Former Health Minister of Goa Suresh Amonkar passes away: Dr Suresh Amonkar, the former health minister of Goa has passed away due to Covid-19 infection. He was 68. He was a two-term MLA, being elected to the Goa Assembly in 1999 and 2002, as well as served as minister in the first Manohar Parrikar cabinet in 2000 as a minister of health. He has also served as the ex-president of the Goa unit of the Bharatiya Janata Party (BJP).

Daily GK Updates - 9th July, 2020

NATIONAL UPDATES:

1. Important Cabinet Approvals: 08 July 2020: The following approvals were made on 8th July 2020 during the Union Cabinet meeting chaired by the Prime Minister Shri Narendra Modi:

(1) Extend the EPF contribution of 24% (12% employees share and 12% employers share) for another three months from June 2020 to August 2020 under PMGKY/AATMANIRBHAR BHARAT.

(2) Developing of Affordable Rental Housing Complexes (AHRCs) for urban migrants/ poor as a sub-scheme under Pradhan MantriAwasYojana – Urban (PMAY – U)

(3) Extension of time limit for availing the benefits of “Pradhan Mantri Garib Kalyan Yojana” for Ujjwala beneficiaries by three months w.e.f. 01.07.2020

(4) Extension of Pradhan Mantri Garib Kalyan package-Pradhan Mantri Garib Kalyan Anna Yojana – distribution of free of cost Whole Chana for five months from July to November, 2020

(5) Capital infusion for an overall value of Rs.12,450 crore for the three Public Sector General Insurance Companies – Oriental Insurance Company Limited (OICL), National Insurance Company Limited (NICL) and United India Insurance Company Limited (UIICL)

(6) Increase authorised share capital of NICL to Rs.7,500 crore and that of UIICL and OlCL to Rs 5,000 crore respectively.

2. AIIB provides USD 50 mn to L&T Infra Finance for renewable energy: L&T Infrastructure Finance Company Ltd (LTIFCL) has received USD 50 million from the Asian Infrastructure Investment Bank (AIIB), for funding Renewable Energy projects in the country. The loan amount is first tranche of the total USD 100-million ECB (External Commercial Borrowing) loan approved by Beijing-based AIIB. The fund will be used for on-lending large and mid-scale wind and solar power infrastructure projects in India. Also, this is the first loan by AIIB to a non-banking financial company (NBFC) in India.

Note: Managing Director & CEO of L&T Finance Holdings: Dinanath Dubhashi.

President of Asian Infrastructure Investment Bank: Jin Liqun; AIIB HQs: Beijing

3. Justice Bansi Lal Bhat term as acting chairperson of NCLAT extended: The Ministry of Corporate Affairs (MCA) has extended the term of Justice Bansi Lal Bhat as the acting chairperson of the National Company Law Appellate Tribunal (NCLAT) by three months. His extended term will begin from 15 June 2020, or until a regular chairperson was appointed. Bhat was appointed as the acting chairperson of the appellate tribunal on March 15, 2020 after the completion of the term of Justice SJ Mukhopadhaya. NCLAT was constituted under Section 410 of the Companies Act 2013

4. ‘Compact XL’ system for covid-19 tests lauched by MyLab: Mylab Discovery Solutions has launched the ‘Compact XL’ system for conducting a wide range of tests, including RT-PCR tests for COVID-19. This is India’s first machine to automate the manual processes of molecular diagnostic tests such as RNA/DNA-based tests including COVID-19 RT-PCR tests. The ‘Compact XL’ RT-PCR system can test 32 tests at a time on one system and there are options to connect multiple systems on one network. This system is designed to reduce the requirement for manpower, multiple systems can be networked together to achieve the throughput of 96 to 1000 plus samples per day. The machine is designed to automate lab operations from sample handling to RT-PCR ready tube preparation, and do these operations in one single compact benchtop machine.

Note: Mylab Discovery Solutions Executive Director: Shailendra Kawade; Mylab Discovery Solutions Managing Director: Hasmukh Rawal; Mylab Discovery Solutions Headquarters: Pune, Maharashtra.

5. Himalayan Golden Birdwing butterfly named as India’s largest butterfly: Himalayan Golden Birdwing butterfly named as India’s largest butterfly, a record an unknown specimen had held for 88 years. The female Golden Birdwing with 194 mm wingspan was recorded at Uttarakhand’s Pithoragarh district’s Didihat town, while the male Golden Birdwing with 106 mm wingspan was recorded at the Wankhar Butterfly Museum (in Shillong). The new measurements of this and 24 other species of butterflies were published in the latest issue of Bio notes, a quarterly newsletter for research on life forms. Shristee Panthee of the University of Chinese Academy of Sciences in Yunnan and Peter Smetacek of the Butterfly Research Centre at Bhimtal in Uttarakhand are the authors of the study.

6. IIT Alumni Council sings MoU with CSIR-IGIB for COVID-19 research: IIT Alumni Council and CSIR Institute of Genomics and Integrative Biology (CSIR-IGIB) has signed an agreement to jointly conduct research on COVID-19 and patient data analysis. World's largest molecular diagnostic lab 'MegaLab Mumbai' is also being set up by the council with a capacity of one crore tests It will not only create a world-leading testing and treatment ecosystem but also establish global data leadership.

7. Railways, BHEL tie up for solar power generation: Indian Railway in collaboration with Bharat Heavy Electricals Limited (BHEL) has set up a 1.7 Megawatt solar power plant at Bina, Madhya Pradesh. The project involves the adoption of innovative technology for converting Direct Current to single-phase Alternating Current for feeding directly to Railway’s overhead traction system.

Note: Chairman & MD of BHEL: Nalin Shinghal; BHEL founded: 1964; Headquarters: New Delhi, India; Union Minister of Railways: Piyush Goyal.

8. Karnataka government launches “Nekara Samman Yojane”: Karnataka government has launched a relief scheme “Nekara Samman Yojane” for weavers. The state government has allocated a sum of Rs 10.96 crore under the programme. As per the state government, the Silk, cotton, wool and other handloom weavers have been made eligible under the scheme.

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

INTERNATIONAL UPDATES:

1. Maldives & Sri Lanka eliminate measles & rubella, ahead of 2023 target: According to the World Health Organisation’s (WHO), South-East Asian Region (SEAR) office, Maldives and Sri Lanka were verified for having eliminated measles and rubella. Now, Maldives and Sri Lanka are the first two countries in the WHO South-East Asia Region to achieve measles and rubella elimination ahead of the 2023 target. The Maldives reported last endemic case of measles in 2009 and of rubella in October 2015, while Sri Lanka reported last endemic case of measles in May 2016 and of rubella in March 2017.

Note: President of Sri Lanka: Gotabaya Rajapaksa; Prime Minister of Sri Lanka: Mahinda Rajapaksa; Capital of Sri Lanka: Sri Jayawardenepura Kotte; Currency of Sri Lanka:  Sri Lankan rupee.

President of the Maldives: Ibrahim Mohamed Solih; Capital of Maldives: Male; Currency of the Maldives: Maldivian Rufiyaa.

2. US formally notifies UN about its withdraw from WHO: The Trump administration has formally notified the United Nations of its decision to withdraw from the World Health Organization (WHO), breaking off over 70 years ties with the global health body amid the expanding coronavirus pandemic. The US has accused the WHO of siding with China on the outbreak of the virus, alleging that WHO misled the world in responding to the outbreak, resulting in deaths of over half a million people globally, including over 1 lakh 30 thousand in America. The withdrawal notice was sent to U.N. Secretary-General Antonio Guterres on 6th July 2020 and will take effect on July 6, 2021. The US contributes around $400-$500 million to the WHO each year. In April, the US stopped funding to WHO as the Trump administration reviewed the ties. A month later, President Donald Trump announced the US was terminating the relationship.

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

3. India ranks 34th in JLL’s Global Real Estate Transparency Index; UK Tops: The US-based JLL and LaSalle’s biennial Global Real Estate Transparency Index (GRETI) 2020 was released on 7th July 2020 to rank countries having the most transparent operating environments for real estate investors, developers and corporate occupiers. India is ranked at 34th position globally on the index, with higher levels of transparency due to regulatory reforms, enhanced market data and sustainability initiatives. India’s rank has improved by five notches from 39 in 2018 to 34 in 2020. United Kingdom has topped the GRETI 2020 Index, followed by United States and Australia at second and third position. This is the 11th edition of GRETI ranking and covers 99 countries and territories, and 163 city regions. It is a biennial index whose 11th edition is released in 2020.

OTHER UPDATES:

BANKING AND FINANCE

1. KVB tie-up with Bajaj Allianz Life to offer life insurance solutions: Karur Vysya Bank has signed an agreement with Bajaj Allianz Life Insurance to offer life insurance solutions to its customers. Bajaj Allianz’s products will be available at the Bank’s 780 branch offices spread across India. Under this partnership, all retail and group products of Bajaj Allianz Life Insurance will be made available to the Bank’s customers, including savings, retirement, investment, protection and critical illness life insurance products. KVB will also benefit from the advantage to offer their customers a value-packed life insurance solution for their financial requirements under a single roof.

Note: Headquarters of Karur Vysya Bank: Karur, Tamil Nadu; Chairman of Karur Vysya Bank: N. S. Srinath.

Bajaj Allianz Life Insurance Headquarters: Pune, Maharashtra; Bajaj Allianz Life Insurance MD & CEO: Tarun Chugh.

2. CBDT & SEBI signs MoU for data exchange: Central Board of Direct Taxes (CBDT) and Securities and Exchange Board of India (SEBI) signs MoU via video conference. It will facilitate the sharing of data and information between SEBI and CBDT on an automatic and regular basis. It will also facilitate exchange of any information available in their respective databases. Data Exchange Steering Group has also been constituted to review the data exchange status.

Note: Chairperson of CBDT: Pramod Chandra Mody; Headquarters of CBDT: New Delhi.

Chairman of Securities and Exchange Board of India: Ajay Tyagi; Headquarter: Mumbai.

BUSINESS AND ECONOMY

1. Google Rebrands its Social Networking App Google+ as Google Currents: Internet search giant Google has officially relaunched its former social networking platform Google+ as Google Currents on 7th July 2020. The new app is targeted more towards businesses and enterprise users. The company launched Google Plus as a social network platform to compete with the likes of Facebook. However due to low usage and some security bugs that were recently discovered, Google+ was shut down in April 2019. The latest version of the app is available for download on Android and iOS system. However, the URL plus.google.com will continue to function and automatically redirect users to currents.google.com.

2. USAID & MNRE announce new partnership to develop clean energy: The Ministry of New and Renewable Energy (MNRE) and US Agency for International Development (USAID) have partnered on 7th July 2020 to increase India- US collaboration for clean energy development. Under the partnership, the USAID-supported South Asia Group for Energy (SAGE), a US government consortium, will provide advanced technical knowledge on clean energy development from America’s national laboratories to MNRE’s National Technical Institutions and other public institutes. SAGE will provide a formal platform for collaboration on clean energy development to make MNRE National Institutions act as a powerhouse of science, engineering, and technology for India and the entire South Asia region.

Note: MNRE Secretary: Indu Shekhar Chaturvedi

DEFENSE

1. Akash Missile: BDL signs licence agreement & ToT with DRDO: Bharat Dynamics Limited (BDL) has signed License Agreement and Transfer of Technology (ToT) with Defence Research and Development Organisation–Defence Research and Development Laboratory (DRDO–DRDL) for Akash Missile Weapon System (Indian Army Variant). Akash Missile is the first medium-range Surface to Air missile produced in India which can engage multiple targets from multiple directions. The missile flies at a speed of nearly 860 meters per second at a maximum altitude of 18 km.

OBITUARIES

1. Veteran bollywood actor Jagdeep passes away: Veteran Bollywood actor-comedian, Jagdeep passed away. He was born as Syed Ishtiaq Ahmed Jafri, the legendary actor was popularly known as Jagdeep, his stage name. He was the father of popular comedian Javed Jaffrey. He was best known for his roles in films such as Sholay, Purana Mandir and Andaz Apna Apna. He was last seen in 2012 movie Gali Gali Chor Hai, in which he played the role of a police constable.

2. Kannada TV actor Susheel Gowda passes away: Kannada TV actor Susheel Gowda died by suicide at his hometown in Mandya in Karnataka. He was 30 years old. He had a stint in television before landing a role in a Kannada movie titled Kamarottu Checkpost. He also acted in Duniya Vijay-starrer Salaga which is yet to be released.  Apart from acting, Sushil Kumar was an instructor in a gym in Bengaluru but was out of work following the cessation of all film activities due to the COVID-19 lockdown and closure of gym.

Daily GK Updates - 8th July, 2020

NATIONAL UPDATES:

1. World Bank provides $400 million for Namami Gange programme: The World Bank has signed loan agreement worth $400 million with the Government of India on 7th July 2020 to enhance support for the Namami Gange programme that seeks to rejuvenate the Ganga river. The $400 million operation includes loan of $381 million and a proposed Guarantee of up to $19 million. This is the first-ever IBRD Guarantee for wastewater treatment and also the first IBRD Guarantee in the water sector in India. The World Bank has been supporting the government’s efforts since 2011.

Note: President of World Bank: David Malpass.

2. PM Modi to unveil Asia’s largest solar plant in MP: Prime Minister Narendra Modi will inaugurate Asia's largest 750 MW Rewa Ultra-Mega Solar plants in Madhya Pradesh via video conferencing on July 10. A Rewa Ultra-Mega Solar plant is constructed in the Rewa district of Vindhya region of Madhya Pradesh. It is one of the largest single-site solar power plants in Asia.

Note: Chief Minister of Madhya Pradesh: Shivraj Singh Chouhan; Governor: Anandiben Patel (additional charge)

3. NHRC sets up panel, headed by Dr K S Reddy, to assess Covid-19 impact on human rights: The National Human Rights Commission (NHRC) has constituted an 11-member expert committee to study the impact of Covid-19 on human rights and future response of the government. The expert panel would be headed by Dr K S Reddy, president of Public Health Foundation of India. Key Functions of the expert committee: (1) Assess the impact of Covid-19 on human rights of people, especially marginalised and vulnerable sections of the society, including migrant labourers; (2) Suggest the future policy for the Centre and state governments based on the best practices being followed abroad and even in India.

4. West Bengal Government Launches Document Scanning App ‘SelfScan’: The Chief Minister of West Bengal, Mamata Banerjee has launched a new document scanning app called ‘SelfScan’. It has been developed by the state’s information technology department. The app has been launched by the state after the Indian government banned 59 Chinese applications in the country. The new SelfScan app by the state government of West Bengal is an alternative to the popular document scanning Chinese mobile app CamScanner.

Note: Chief Minister of West Bengal: Mamata Banerjee; Governor: Jagdeep Dhankhar.

5. NSDC Partners with Microsoft to empower Indian youth with digital skills: The National Skill Development Corporation (NSDC) and Microsoft have entered into a strategic partnership on 8 July 2020, to provide digital skills to over 1 lakh youth in India over the next 12 months, to transform India into a skilled nation. The NSDC-Microsoft partnership is an extension of Microsoft’s global skilling initiative to help 25 million people worldwide acquire new digital skills needed for the Covid-19 economy. Under this partnership Microsoft will integrate its learning resource centre ‘Microsoft Learn’ with NSDC’s eSkill India digital portal to provide free access to personalised learning resources and conduct digital skilling awareness drives, to equipp the next generation of learners with the skills they need to thrive in a digital economy.

Note: CEO & MD of National Skill Development Corporation: Manish Kumar.

6. Jharkhand launches immunization drive for 44K kids of migrant workers: The Jharkhand health department has launched a major campaign to immunize the deprived children. The Jharkhand Health Department identified the children during an intensive door-to-door survey. The children between age group of zero to five who stayed with their parents at workplace in different states were deprived of immunization due to ignorance or time crunch due to work pressure. A senior official in the state health department, who monitors immunization said they have set a target to immunize 8.30 lakh children between the age group of zero to five this year.

7. Govt launches PM FME scheme to help micro food processing enterprises: The government launched a Rs 10,000 crore scheme for micro enterprises which offers 50% subsidy for storage and transportation to prevent distress sale by farmers. The scheme, called Pradhan Mantri Formalisation of Micro Food Enterprises (PM FME), aims to bring in new technology, apart from affordable credit to help small entrepreneurs penetrate new markets. The scheme will be implemented for five years until 2024-25. It will generate investment of Rs 35,000 core, generate 900,000 jobs and help 800,000 units.

8. COVID-19 War Room to be set up in Delhi to check the spread of virus: The Delhi government will set up a ‘COVID-19 War Room’, which will 24×7 monitor the city’s fight against the novel coronavirus, and suggest measures to effectively deal with the prevailing situation. The ‘COVID-19 War Room’, which is being set up at the Delhi Secretariat, will be manned by around 25 experts. It is expected to become operational in the next few days.

INTERNATIONAL UPDATES:

1. 4th edition of the virtual Ministerial on Climate Action held: The fourth edition of the virtual Ministerial on Climate Action was co-chaired by European Union, China and Canada. In the meeting, India was represented by the Union Environment Minister, Shri Prakash Javadekar. The meeting witnessed the countries deliberating on how countries are aligning economic recovery plans with the Paris Agreement as well as the critical enabling conditions to ensure continued climate action. The virtual Ministerial on Climate Action was held with prime objective of demonstrating the continued political commitment to global climate action. It also aimed to further the discussions on the full implementation of the Paris Agreement under the United Nations Framework Convention on Climate Change (UNFCCC). It was attended by Ministers and representatives of about 30 countries and was held virtually in view of the ongoing COVID-19 pandemic.

2. Germany to become first major economy to phase out coal, nuclear power: German lawmakers have finalized the country’s long-awaited phase-out of coal as an energy source, backing a plan that environmental groups say isn’t ambitious enough and free marketeers criticise as a waste of taxpayers’ money. Bills approved by both houses of parliament envision shutting down the last coal-fired power plant by 2038 and spending some 40 billion euros ($45 billion) to help affected regions cope with the transition. The plan is part of Germany’s ‘energy transition’ – an effort to wean Europe’s biggest economy off planet-warming fossil fuels and generate all of the country’s considerable energy needs from renewable sources.

3. Coronavirus will cost global tourism at least $1.2 trillion: UNCTAD: The world’s tourism sector could lose at least $1.2 trillion, or 1.50 per cent of the global gross domestic product (GDP), having been placed at a standstill for nearly four months due to the coronavirus pandemic, United Nations Conference on Trade and Development (UNCTAD) said in a report. The UN’s trade and development body warned that the loss could rise to $2.2 trillion or 2.80 per cent of the world’s GDP if the break in international tourism lasts for eight months, in line with the expected decline in tourism as projected by the UN World Tourism Organization (UNWTO).

4. Bangladesh launches 'Digital Haat' for sacrificial animals: Bangladesh has launched ‘Digital Haat’ for online sale and purchase of sacrificial animals ahead of Eid-Ul-Azha. The step is taken to save the cattle farmers and traders from financial loss amid the Corona and also to stop further transmission of the infection in the country. For buying and purchasing animals, people have to register for free over this platform. This will be promoted through govt website and social networking sites

ICT State Minister: Zunaid Ahmed Palak

5. Dwayne ‘The Rock’ Johnson becomes Instagram’s highest-paid celebrity: Wrestler-turned-actor, Dwayne ‘The Rock’ Johnson has been named Instagram’s highest-paid celebrity. Dwayne has dethroned Kylie Jenner as Instagram’s highest-paid celebrity. According to social media marketing firm Hopper HQ, Johnson has 189 million followers while Jenner has 183 million followers. Also on this year’s list were pro soccer player Cristiano Ronaldo, who charged about $889,000 per post and Jenner’s Sister Kim Kardashian, who could charge $858,000.

OTHER UPDATES:

SPORTS

1. Sumit Nagal wins PSD Bank Nord Open tournament in Germany: Rising tennis star Sumit Nagal has become the first Indian to win an international tournament in the Covid-19 era after he lifted the PSD Bank Nord Open trophy, a locally organised clay court tournament in Germany.  Nagal, , who is currently India’s highest-ranked singles player at 127, recently defeated second seed German Daniel Masur 6-1, 6-3 in the final match at the tournament held at the Pinneberg tennis club.

BANKING AND FINANCE

1. Fino Payments Bank launches ‘Bhavishya’ Savings Account for minor children: Fino Payments Bank Limited (FPBL) has launched a savings bank account ‘Bhavishya’ for minor children aged between 10 and 18 years on 7th July 2020 to make children banking ready from early age and inculcate a savings habit among them. Bhavishya is an annual subscription-based savings account, which can be opened with just Rs. 349 (inclusive of GST). Initially, the bank is introducing the Bhavishya Savings Account in Uttar Pradesh, Bihar and Madhya Pradesh and gradually it will launch in other states. Key Features of Bhavishya Savings Account:

(1) Monthly Average Balance requirement: Nil; (2) Free Platinum RuPay Debit card which can be used at ATMs only to withdraw cash with Aadhaar authentication; (3) Accidental Insurance/Permanent disability cover of upto Rs.2 Lakhs linked with Rupay Platinum Debit Card

(4) Upto 5 free ATM transactions in a month; (5) Free cash deposit limit upto Rs.25,000 per month; (6) Free cash withdrawal at Fino Bank branches; (7) For security reasons minor should have a mobile number that is different from the parent’s number; (8) Upon attaining 18 years of age, the BhavishyaSavings Account will be upgraded to regular savings account on submission of Re-KYC with updated info.

2. Karur Vysya Bank ties up with Star Health Insurance for health insurance products: The Karur Vysya Bank (KVB) has entered into a partnership with Star Health and Allied Insurance Co to provide a wide range of health insurance options to its customers. According to the partnership, all the health insurance products of Star Health & Allied Insurance will be made available through all 780 branches of the Karur Vysya Bank. This agreement will help the bank to provide cost-effective insurance products and quick settlement of claims to its customers.

Note: Headquarters of Karur Vysya Bank: Karur, Tamil Nadu; Chairman of Karur Vysya Bank: N. S. Srinath; KVB President: J Natarajan.

3. Equitas Small Finance Bank launches video KYC account: Equitas Small Finance Bank Limited has launched a facility of opening account through video KYC. With this, any person anywhere in the country can open a savings account with Equitas Small Finance Bank; complete the full KYC through video with the Bank employee. The new video KYC account is a step forward towards our vision. This will ensure contact less, no branch visit and hassle free account opening and transactions for customers.

BUSINESS AND ECONOMY

1. Ola partners with PhonePe for digital payments: Mobility platform Ola has entered into a partnership with digital payments platform PhonePe to expand payment options for riders. The partnership will help the mobility platform enable better digital payments experience on its Ola app. Ola customers across the country will now be able to pay for their ride using PhonePe. It will also benefit the digital payments platform in order to help it expand its user base. Ola’s customers can use all of PhonePe’s payment options, including the PhonePe wallet, to make payments in addition to UPI.

Note: CEO of Ola: Bhavish Aggarwal; Headquarters location of Ola: Bengaluru, Karnataka.

CEO of Phonepe: Sameer Nigam; Headquarters location of Phonepe: Bengaluru, Karnataka.

2. UKIBC Appoints Jayant Krishna as new group CEO: Jayant Krishna has been appointed as the new Group Chief Executive Officer (CEO) of the the UK India Business Council (UKIBC). His appointment will be effective from August 3, 2020. Jayant is the first Indian to be appointed as UKIBC Group CEO. Krishna takes over from Richard Heald, who held the position at the Council for a term of 10 years, since September 2010. Prior to this, Jayant Krishna has served as the CEO of Prime Minister’s Skill India mission as well as the Executive Director & Chief Operating Officer of the National Skill Development Corporation (NSDC). Richard is being alleviated to take the role of Chair from 1 September 2020. He will be succeeding the current Chair, Lord Davies of Abersoch.

OBITUARIES

1. British actor Earl Cameron passes away: British film and television actor Earl Cameron (102 years) passed away. His first appearance on screen was in 1951 film Pool of London. He was appointed as the Commander of the Order of the British Empire (CBE) in the 2009 New Year Honours. He was also worked in 1965 Bond movie Thunderball and Doctor Who and 2005 film The Interpreter along with Sean Penn and Nicole Kidman. Queen with Hellen Mirren (2006) and Inception (2010) are his other famous films.