Daily GK Updates - 27th July, 2020

 

NATIONAL UPDATES:

 

1. Indian Railways Constructing World’s first electrified double-stack container tunnel near Haryana: The Indian Railways is constructing the world’s first electrified double-stack container tunnel, between the Aravalli hills, on the railway’s Western Dedicated Freight Corridor near Haryana’s Sohna. Once operational, a double-stack container goods train will be able to run at a speed of more than 100 km from within this one-km-tunnel. The Dedicated Freight Corridor Corporation of India Limited (DFCCIL) is the implementing agency of the project. The D-shaped tunnel is one of the biggest Railway tunnels in India in terms of cross-sectional area, measuring 150 square metres. One end of the tunnel is near Rewari while the other end of the tunnel is at Dadri. The tunnel connects the Mewat and Gurugram district of Haryana.

 

2. HRD Ministry forms committee on retaining students in India, to be headed by UGC chairman D. P. Singh: The Union Ministry of Human Resource Development has set up a “Stay in India and Study in India” committee to form guidelines and recommend measures to make sure that more students study in India and there is a smooth transition for students returning from abroad due to COVID-19 situation. The committee will be headed by chairman of the University Grants Commission (UGC), Prof. D. P. Singh. This initiative is a part of Governments plan to retain aspiring students, who wants to study abroad, by providing appropriate opportunities for education in premier Indian institutions and addressing concerns of students returning from abroad, due to the coronavirus pandemic.

Note: HRD Minister: Ramesh Pokhriyal 'Nishank'

 

3. IIM-Kozhikode develops ‘Veli Band’ for ensuring social distancing: The Indian Institute of Management Kozhikode based incubated startup Qual5 India Pvt.Ltd has developed a wearable hand band Known as the “Veli Band”. The band will help in maintaining social distancing by sending out an alarm in case of proximity with another person. The band momentarily vibrates, sounds buzzer, and flashes LED simultaneously to notify wearers that another band is within 3 feet (1 metre), reminding them of the need to maintain social distance. The device, to be worn on the wrist, can anonymously keep track of interactions with other devices and thus not only help in maintaining a safer workplace but also aid in tracking employee movements in real-time.

Note: Chairman of IIM-K: A. Vellayan; IIM-K Headquarters: Kozhikode, Kerala.

 

4. CRPF Observes 82nd Raising Day on 27 July: The 82nd Raising Day of Central Reserve Police Force was observed on 27 July 2020. The CRPF was founded as Crown Representative’s Police on July 27, 1939 and became the Central Reserve Police Force (CRPF) on the enactment of the CRPF Act on December 28, 1949. CRPF is India’s largest Central Armed Police Force, under the authority of the Ministry of Home Affairs (MHA). Its headquarter is located in New Delhi. CRPF has the mandate to secure internal security scenario and is at the forefront to keep our nation safe. The first battalion of the force was raised on July 27, 1939, as the Crown Representative’s Police (CRP) under the British in Neemuch town of Madhya Pradesh.

Note: Director General of Central Reserve Police Force: AP Maheshwari.

 

5. Delhi Govt launches ‘Rozgar Bazar’ for job seekers and recruiters:  Delhi government has launched the portal named as “Rozgar Bazar”, a sort of marketplace for job seekers and the people recruiters. The portal will proved to be a boon for the employers as well as the job seekers. The recruiters can visit the website and update their requirements, similarly job seekers are also required to visit the portal and update their qualification, experience and requirement. The “Rozgar Bazar” portal is an effort of the Delhi Government to revive the lockdown-hit economy of Delhi. There are many people who want jobs and there are traders, businessmen, professionals, contractors who are not getting the right person for their work. This portal will fill the gap by bringing them together on one platform.

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

 

6. J&K LG announces launch of ‘Macadamisation Program’:  Lieutenant Governor, Girish Chandra Murmu has announced the launch of a ‘Macadamisation Program’ for the improvement of roads across Jammu and Kashmir. Murmu has approved a program for 100 percent Macadamisation of all roads in the Union Territory including 11,000 km of fair-weather roads. Meanwhile, Lieutenant Governor also announced a release of Rs 200 Crores to the Public Works Department as the first tranche so that the Macadamisation work on priority roads can commence. The prioritization criteria will include when a road was last macadamized, whether it was part of the grievances presented before Lieutenant Governor during his outreach tours, the present quality of the road and other similar factors.

 

7. Riva Ganguly Das appointed next Secretary (East) in External Affairs Ministry: The Modi administration announced the appointment of Riva Ganguly Das as the next Secretary (East) in the Ministry of External Affairs. Ms. Das, a 1986-batch Indian Foreign Service officer, is presently High Commissioner of India to Bangladesh. She will take over as Secretary (East) from October. She will replace Vijay Singh Thakur, who is due for superannuation on September 30.

 

8. Rajesh Bhushan appointed as new Health Secretary: Rajesh Bhushan, IAS officer of 1987 Batch, Bihar Cadre has been appointed as the new Health Secretary in the Union Health Ministry.

In another major reshuffle Ajay Tirkey has been appointed as Secretary, Department of Land Resources in the Ministry of Rural Development. Ram Mohan Mishra will take over as Secretary in the Ministry of Women and Child Development.

Sushil Kumar has been appointed as Secretary, National Commission for Scheduled Castes in the Ministry of Social Justice and Empowerment.

Anil Kumar Jain has been given additional charge as Secretary, Mines along with his post of Secretary in the Coal Ministry.

 

INTERNATIONAL UPDATES:

 

1. GoI grants medical assistance worth about USD 1Mn to DPRK:  Government of India has extended medical assistance worth about USD 1 million in the form of anti-tuberculosis medicines to North Korea. The medical assistance was extended in response to a request received from the World Health Organisation (WHO) and was granted under the aegis of an ongoing WHO anti-tuberculosis programme in the Democratic People’s Republic of Korea (DPRK). The consignment of anti-tuberculosis medicines was handed over by Indian Ambassador to DPRK Atul Malhari Gotsurve to DPRK authorities in the presence of a WHO representative.

Note: Supreme Leader of North Korea: Kim Jong-un; Capital of North Korea: Pyongyang; Currency: North Korean won.

 

2. Sahil Seth appointed as the adviser to BRICS CCI committee: Sahil Seth has been appointed as an honorary adviser to BRICS Chamber of Commerce and Industry (CCI) young leaders steering committee for 2020-2023. He is presently serving as the Deputy Commissioner of Mumbai Customs. BRICS CCI promotes commerce and industry in the BRICS nations and is a support system for the MSME segment of businesses and young entrepreneurs from across all different geographies.

Note: BRICS: Brazil, Russia, India, China, South Africa. HQs: Shanghai, China

 

OTHER UPDATES:

 

SPORTS

 

1. Haryana to host 4th Khelo India Youth Games in 2021: Haryana will host the fourth edition of the Khelo India Youth Games in 2021, in Panchkula. The games will be held after the 2021 Tokyo Olympics, which is scheduled to take place from July 2021. The announcement was made by the Haryana’s chief minister Manohar Lal Khattar and Union sports minister Kiren Rijiju via video conference. Haryana has done well in all three editions of KIYG. While they came second in both 2019 and 2020 editions (200 medals in 2020 and 159 medals in 2019) Haryana won it in 2018 with 102 podium finishes (38 gold, 26 silver, 38 bronze). Usually the Khelo India Youth Games take place in January every year, however, this time owing to the pandemic, the games have been postponed to a later date (yet to be decided).

Note: Governor of Haryana: Satyadeo Narayan Arya; Chief Minister of Haryana: Manohar Lal Khattar.

 

2. Sri Lankan Bowler Sripali Weerakkody retires from international cricket: Sri Lankan woman medium-pace bowler, Sripali Weerakkody has announced to retire from international cricket with immediate effect. The 34-year-old Sripali Weerakkody, represented Sri Lanka in 89 Women’s One Day Internationals and 58 Women’s Twenty20 Internationals. Weerakkody was also a member of the 2014 Asian Games bronze medal winning Sri Lankan team.

 

BANKING AND FINANCE

 

1. RBI signs $400 mn currency swap with Sri Lanka: The Reserve Bank of India (RBI) has signed an agreement for extending a $400-million currency swap facility to Sri Lanka. This currency swap is used to boost the foreign reserves and ensure the financial stability of the country, which is badly hit by the COVID-19 pandemic. The currency swap arrangement will remain available till November 2022. Sri Lanka was set to enter into an agreement with the RBI for a currency swap worth $400 million under the South Asian Association for Regional Cooperation (SAARC) framework. In the swap arrangement, a country provides dollars to a foreign central bank, which, at the same time, provides the equivalent funds in its currency to the former, based on the market exchange rate at the time of the transaction. The parties agree to swap back these quantities of their two currencies at a specified date in the future, which could be the next day or even two years later, using the same exchange rate as in the first transaction. Sri Lanka’s forex reserves were at $ 6.7 billion in June 2020 while India’s forex reserves were at $ 517.63 billion till July 17.

Note: Governor of RBI: Shaktikanta Das; Headquarters: Mumbai; RBI Founded: 1 April 1935, Kolkata; 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.

 

2. Naveen Tahilyani Appointed as MD & CEO of Tata AIA Life Insurance: Tata AIA Life Insurance has appointed Naveen Tahilyani as the new Chief Executive Officer & Managing Director. Tahilyani will take over from current Chief Executive Officer, Rishi Srivastava, who is moving to Group Agency Distribution, AIA Group, Hong Kong as Chief Executive Officer. This is the second time that Naveen Tahilyani is being appointed as MD & CEO. Prior to this, he was the CEO and Managing Director of Tata AIA from the year 2015 to 2018. Naveen Tahilyani was the CEO, Group Partnership Distribution at AIA Hong Kong till 2019.

Note: Tata AIA chairman: Saurabh Agrawal

 

AWARDS AND HONOURS

 

1. Kannan C S Warrier receives 2019 National Award of Excellence for Outstanding Research in Forestry: Coimbatore-based Kannan Warrier, , Senior principal of Institute of Forest Genetics and Tree Breeding (IFGTB) scientist gets Indian Council of Forestry Research and Education’s National Award of Excellence for outstanding research in forestry, including conservation of endangered sacred groves in the Alappuzha district of Kerala. The award also recognises his research on three productive clones of casuarina, known as kattadi and savukku. Warrier has 27 years of forestry research experience and has published 232 research articles.

 

OBITUARIES

 

1. Tanzania’s Former President Benjamin Mkapa passes away:  Tanzania’s Former President, Benjamin Mkapa passed away. He served as the third president of the country, from 1995 to 2005, before handing over power to the fourth president Jakaya Kikwete. He held several cabinet posts, such as foreign minister and information minister and also served as ambassador to the United States before he was elected president.

Note: President of Tanzania: John Magufuli; Capital of Tanzania: Dodoma; Currency of Tanzania: Tanzanian shilling. 

Daily GK Updates - 26th July, 2020

 

NATIONAL UPDATES:

 

1. DST launches programme for India-Russia S & T cooperation: The Department of Science and Technology has launched ‘India-Russia Joint Technology Assessment and Accelerated Commercialisation Programme’. The objective of this program is to connect the Indian and Russian science and technology (S&T) led SMEs and start-ups for joint R&D for technology development and for cross-country technology adaptation. The programme has been jointly launched in partnership with the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Foundation for Assistance to Small Innovative Enterprises (FASIE) of the Russian Federation. FICCI will implement the programme in India, on behalf of DST and same will be done by FASIE in Russia. The programme will run over a period of two years and up to five projects will be funded each year. DST will fund up to Rs 15 crores to 10 Indian SMEs/start-ups and FASIE will provide similar funding to the Russian projects. Projects under the program will be mainly based on leading S&T focus areas, such as, IT & ICT, medicine and pharmaceuticals, renewable energy, aerospace, alternative technologies, environment, new materials, biotechnologies, robotics, and drones.

Note: President of Russia: Vladimir Putin; Capital of Russia: Moscow; Currency: Russian Ruble.

 

2. Employees’ Welfare Scheme launched in Arun Jaitley’s name in Rajya Sabha: The Rajya Sabha secretariat has launched an Employees’ Welfare Scheme in the name of former Union finance minister Arun Jaitley, who was also the Leader of the House in the Rajya Sabha. The scheme has been formulated and approved based on the decision of Sangeeta Jaitley, wife of the senior leader who passed away in August last year. The scheme will be funded by the pension his family receives as he has been a member of the upper house. The scheme seeks to benefit group “C” employees of the secretariat by awarding their children three scholarships for higher technical and professional education.

 

3. Haryana CM launches e-Sachivalaya portal: Haryana CM Manohar Lal Khattar launched e-Sachivalaya portal, a digital platform, facilitating people to take online appointments for virtual meetings with the CM , Deputy CM , Ministers and other Heads of Depts. The portal was launched to provide citizen-centric services to the people in a transparent and seamless manner by making the maximum use of the information technology. After taking the appointment, the person will be given a time slot for the virtual meeting within 24 hours.

 

4. Electric potter wheels distributed under “Kumhar Sashaktikaran Yojana”:  Under the “Kumhar Sashaktikaran Yojana” of the Khadi and Village Industries Commission (KVIC), Union Home Minister Amit Shah distributed 100 electric potter wheels to 100 trained artisans in Gandhinagar, Gujarat. The step was an effort to empower and associate the marginalized potters’ community. During the distribution of electric potter wheels, the minister assured the potters stating the arrangements made to help potters to sell their products, including tie-up with the Railways and proper marketing channels.

Note: Chairman of Khadi and Village Industries Commission: Vinai Kumar Saxena.

 

5. PM Modi lays foundation stone of Manipur water supply project worth Rs 3,000 crore: Prime Minister Narendra Modi laid the foundation stone of the Rs 3,050-crore Manipur Water Supply Project under the Jal Jeevan Mission-Har Ghar Jal Scheme. The video conference event was held at the City Convention, Imphal, attended by Manipur Chief Minister N Biren Singh, Manipur Governor Najama Heptulla, MLAs and ministers. Addressing the event, PM Modi said the project would reduce the water problems facing the state, and would be a huge relief for the women of Manipur. Apart from Greater Imphal, the project is to benefit 25 small towns and 1,700 villages in the state, said the PM.

 

6. Punjab approves world bank-supported US$ 286 million canal water supply project: The Punjab Cabinet on Wednesday approved a US$ 285.71 million project for canal-based water supply for Amritsar and Ludhiana cities under World Bank financing. The International Bank for Reconstruction and Development (IBRD) would finance US$ 200 million (70%) and Punjab Government US$ 85.71 million (30%), as per the proposal mooted by the Local Government department for the adoption of Resettlement Policy Framework (RPF) under Punjab Municipal Services Improvement Project. A decision to this effect was taken in a Cabinet meeting chaired by Chief Minister Captain Amarinder Singh held through video conferencing. The project would have four components including strengthening urban and water supply service management with a total cost of US$ 11.61 million, improving water supply infrastructure at US$ 240.38 million, besides Land Acquisition and Rehabilitation & Resettlement involving the cost of US$ 15.62 million, COVID-19 crisis response to the tune of US$ 10 million and project management at US$ 7.6 million, in addition to Front End Fee of US$ 0.5 million.

 

7. Kargil Vijay Diwas: 26th July: Kargil Vijay Diwas is celebrated every year on July 26 since the year 1999, to mark India’s victory over Pakistan in the Kargil conflict. The day is dedicated to our Kargil War’s Heroes and is named after the successful Operation Vijay. This year India is celebrating the 21 years of victory in Kargil war. It was in 1999 that a high altitude mountain war broke out along the peaks of Kargil near the Line of Control, the de-facto border that divides Kashmir between the two nations. After this, India successfully took command of the high outposts which had been lost to Pakistan. This year wreath lying ceremony will take place at Drass War Memorial

 

8. UP Governor Anandiben Patel Gets Additional Charge of Madhya Pradesh Post Demise of Lal Ji Tandon: The Uttar Pradesh Governor Anandiben Patel has been given the additional charge of Madhya Pradesh with effect from 24 July 2020. This decision was taken after the demise of Lal Ji Tandon, Governor of Madhya Pradesh on 21 July 2020. Anandiben Patel will discharge the functions of the Governor of Madhya Pradesh, in addition to her own duties, until the appointment of a regular incumbent for the office of the Governor of Madhya Pradesh. Earlier on June 28, Patel was given the additional charge of Madhya Pradesh during the absence on leave of Governor Lalji Tandon. She has served as the former Chief Minister of Gujarat, she was the first female chief minister of the state.

 

INTERNATIONAL UPDATES:

 

1. EU approves biggest green stimulus in history with $572 Billion plan: European governments approved the most ambitious climate change plan to date, agreeing to pour more than 500 billion euros ($572 billion) into everything from electric cars to renewable energy and agriculture. At a marathon five-day summit in Brussels, heads of government reached a deal on an unprecedented economic rescue plan and seven-year budget for the region worth €1.8 trillion ($2 trillion). The plan is part of Europe’s bid to become the world’s first climate-neutral continent by 2050. Germany’s recovery plans are among the greenest so far, with about a third of the €130 billion ($145 billion) recovery budget going into areas such as public transport and development of green hydrogen.

 

2. India Ranks 3rd among top 10 countries gaining forest area in the world: FAO: India has been ranked third among the top 10 countries that have gained in forest areas in the last decade (2010-2020) as per the latest Global Forest Resources Assessment (FRA) released by the United Nations Food and Agriculture Organization (FAO). FRA is a comprehensive assessment brought out by FAO after every five years since 1990 to assess the state of forests, their conditions and management for all member countries. Key points to the report of FRA 2020:

(1) Top 10 countries which recorded the maximum average annual net gains in forest area during 2010-2020 are China, Australia, India, Chile, Vietnam, Turkey, the United States, France, Italy and Romania; (2) India accounts for two percent of total global forest area; (3) The Asian continent reported the highest net gain in forest area in 2010-2020, with 1.17 million hectares (ha) per year net increase in forests. (4) India reported 0.38 percent annual gain in forest (266,000 ha) of forest increase every year at an average, during the same period. (5) The forest area managed by local, tribal and indigenous communities in India increased from zero in 1990 to about 25 million ha in 2015. (6) The report also assessed the employment in the forestry sector (including logging) with data from 136 countries (that represent 91 percent of the world’s forests ). India reported the maximum employment in the forestry sector in the world. (7) Globally, 12.5 million people were employed in the forestry sector. Out of this, India accounted for 6.23 million, or nearly 50 per cent.

 

3. ADB, GCF Commit To Partnership To Boost Green Recovery From COVID-19: The Asian Development Bank (ADB) and the Green Climate Fund (GCF) agreed to partner toward a 'green recovery' from the impact of COVID 19. This collaboration focuses on enhancing the steps to reduce the carbon emission and for climate-resilient development in Asia-Pacific. ABD has offered a support package of USD 20 billion for COVID-19. Under Strategy 2030, ADB will ensure that 75% of its committed projects will support climate change mitigation and adaptation by 2030.

 

4. Maldives celebrates 55th Independence Day on 26 July 2020: Maldives celebrated its 55th Independence Day on 26 July 2020. 2020 also marks 55 years of establishment of diplomatic ties between India and the Maldives. President Ramnath Kovind and Prime Minister Narendra Modi extended their greetings to the neighbouring country on the occasion. Both leaders have written to Maldives President Ibrahim Mohamed Solih conveying their greetings and assuring continued support to development and democracy in Maldives. Indian high commission in Male while extending its greetings, said India will continue to support post-COVID economic recovery in Maldives and additional financial assistance will be announced soon. It said India first’ policy of Maldives and Neighbourhood first policy of India has set the foundation of the growing relationship.

Note: Maldives Capital: Malé; Currency: Maldivian rufiyaa; President Ibrahim Mohamed Solih

 

OTHER UPDATES:

 

SPORTS

 

1. Run to the Moon initiative raises Rs 19 lakh for Sport’s unsung warriors: 'Run to the Moon’ initiative has raised Rs 19 lakhs for unsung warriors of Indian Sports. It was an initiative of IDBI Federal Life Insurance and NEB Sports in which 14,000 runners participated across the world covering 9,08,800 kilometres over the 30-day span. It was led by badminton coach Pullela Gopichand and Arjuna Awardees Ashwini Nachappa and Malathi Holla. It was aimed at raising funds for needy coaches and sports support staff to make ends meet amid COVID-19

 

2. Indian 4x400m relay squad’s Silver medal at 2018 Asian Games upgraded to Gold: The silver medal which was won by the Indian 4×400 mixed relay quartet of Mohammed Anas, M.R. Poovamma, Hima Das and Arokia Rajiv at the 2018 Asian Games in Jakarta has been upgraded to gold. This decision was taken following the disqualification of original winners Bahrain on account of a four-year doping ban handed to Kemi Adekoya by the Athletics Integrity Unit (AIU) for failing a dope test. Additionally, with Adekoya’s disqualification, India’s Anu Raghavan has moved from fourth position to bronze medal position in the 400m hurdles final. Now India has become the first winner of the 4x400m mixed relay event, which was introduced in the Asian Games in 2018.

Note: President of Athletics Federation of India: Adille J. Sumariwalla.

 

BANKING AND FINANCE

 

1. Partha Pratim Sengupta takes over as new MD & CEO of Indian Overseas Bank: Indian Overseas Bank (IOB) has appointed Partha Pratim Sengupta as its new managing director and chief executive. The 57 year-old Sengupta will serve the post up to the date of attaining the age of superannuation, December 31, 2022, or until further orders, whichever is earlier. The post of the MD and CEO at IOB was lying vacant after the superannuation of Karnam Sekar, who retired on June 30, 2020. Prior to this, Sengupta was the deputy managing director of State Bank of India (SBI).

 

BUSINESS AND ECONOMY

 

1. Ganesh Lakshminarayanan to be new chief of Airtel’s enterprise business: Bharti Airtel Ltd has appointed Ganesh Lakshminarayanan as chief executive officer (CEO) of the company’s enterprise business. Lakshminarayanan will succeed Ashish Arora, who has been promoted as the CEO for global business. Arora will look at expanding Bharti Airtel’s global networks, including submarine cable systems, to serve international and domestic customers.

 

AWARDS AND HONOURS

 

1. Kala Narayanasamy honoured with President’s Award in Singapore:  Indian-origin nurse, Kala Narayanasamy in Singapore has been conferred with the President’s Award for Nurses for serving on the frontline during the COVID-19 pandemic. Kala Narayanasamy, who is the Deputy Director of Nursing at Woodlands Health Campus, has been conferred with this award for utilising the infection control practices that she had learned during the 2003 severe acute respiratory syndrome (SARS) outbreak, in the current pandemic. Kala Narayanasamy was among the five nurses given the award, the Ministry of Health announced. Each recipient was awarded a trophy, a certificate signed by President Halimah Yacob and SGD 10,000 (USD 7,228).

The President’s Award for Nurses in Singapore recognises the efforts of nurses who have shown sustained outstanding performance and contributions to patient care delivery, education, research and administration.

 

2. Liverpool’s Jordan Henderson wins 2020 FWA Footballer of the Year award: Jordan Henderson, the captain of Premier League club Liverpool has been named the 2019-20 Footballer of the Year by the Football Writers’ Association (FWA). The 30-year-old Henderson has played in 30 of Liverpool’s league matches so far this season and scored four goals. Kevin De Bruyne, Marcus Rashford and Virgil van Dijk are the runner-up. The Football Writers’ Association Footballer of the Year is an annual award given since the 1947–48 season, to the player who is adjudged to have been the best of the season in English football. 

Daily GK Updates - 25th July, 2020

 

NATIONAL UPDATES:

 

1. Union Minister Nitin Gadkari launches ‘RestartIndia’ advisory platform for MSME sector: The Union Minister for Micro, Small and Medium Enterprise (MSMEs), Shri Nitin Gadkari launched a mentoring platform ‘www.restartindia.in’, on 23 July 2020, with the main objective to help the sector in restarting businesses across the country. This website has been developed jointly by Muthoot Fincorp and INKtalks as an open platform for advisory support, and is in sync with Atmanirbhar project. The portal will act as a single platform to bring together professionals/ experts from various fields and industry domains, to address the questions and provide information on various schemes and initiatives of the government. This in turn will help the MSME sector, particularly the nano and micro enterprises, by bringing global management information and expertise to the doorstep. The objective of RestartIndia is to raise the self-confidence primarily of small businesses by creating an environment for the re-establishment and progress of their businesses.

 

2. APSEZ becomes the first Indian port to sign up for Science Based Targets Initiative (SBTi): Adani Ports and Special economic Zone Limited (APSEZ) has become the first Port in India and 7th Port in the world to sign the commitment letter to Science Based Targets initiative (SBTi). Overall, 43 Indian companies have signed a commitment letter to SBTi, till date from a total of 909 companies. What is SBTi?

The science-based targets are the targets adopted by companies to reduce greenhouse gas (GHG) emissions that are in line with meeting the goals of the Paris Agreement – to limit global warming to well-below 2°C above pre-industrial levels and pursue efforts to limit warming to 1.5°C. Through SBTi, companies commit to set science-based emissions reduction targets, across their entire value chain, which in turn provides companies with a clearly defined pathway to future-proof growth by specifying how much and how quickly they need to reduce their greenhouse gas emissions. Committed companies have 24 months to have their targets approved and published by the SBTi. The Science Based Targets initiative (SBTi) is collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF)

 

3. India’s first honey testing laboratory set up at NDDB in Anand district of Gujarat: India’s first dedicated honey testing laboratory has been set up at the National Dairy Development Board (NDDB) in Anand district of Gujarat. The ‘World Class State of Art Honey Testing Laboratory’ was inaugurated virtually by Union Agriculture Minister Narendra Singh Tomar on 24 July 2020, with the aim to boost exports and ensure better rates to farmers. The facility has been established by NDDB with support of National Bee Board (NBB). The new lab will test honey as per the norms specified by the food safety regulator FSSAI. The purity of honey, adulteration, chemical substances, residues, heavy metals or antibodies can be checked to help for quality production of honey and its export to other countries.

 

4. Prakash Javadekar launches piloting of National Transit Pass System: Environment Minister Prakash Javadekar virtually launched piloting of the National Transit Pass System at Indira Paryavaran Bhawan in Delhi. The National Pass System enhances seamless movement of forest produce. The pilot project will be functional in Madhya Pradesh (MP) and Telangana, and by this Diwali, it will be operational in pan India. NTPS will replace manual paper-based transit system by online transit system enabling ease of movement of timber, bamboo and other minor forest produce.

 

5. TRIFED enters into partnership with IIT, Delhi for Unnat Bharat Abhiyan: Tribal Cooperative Marketing Development Federation of India, TRIFED has entered into a partnership with IIT, Delhi for the Unnat Bharat Abhiyan (UBA) which is a flagship national programme of the Ministry of Human Resource Development. To cement and formalize this partnership, a tri-partite Memorandum of Understanding was signed between TRIFED, IIT, Delhi and Vijnana Bharati. Tribal entrepreneurs under TRIFED’s Van Dhan Programme will now be able to get access to the expertise of the entire network of over 2,600 academic and research institutions under UBA. Speaking about the significance of this agreement and the pivotal role it will play in tribal development, Managing Director of TRIFED Pravir Krishna said that TRIFED is actively working on convergences with various Ministries for skill development for Tribal Livelihoods.

 

6. Transgenders in Odisha to get benefit under Madhu Babu Pension Yojana: The Odisha Government has included transgender community under Madhu Babu Pension Yojana, which aims at providing financial assistance to destitute elderly, differently-abled persons and widows in the state. Madhu Babu Pension Yojana (MBPY) is a social security scheme launched by the state government. Under this scheme, around 5,000 transgenders will recieve Rs 500, Rs 700 and 900 per month as a pension under various categories depending on their age

 

7. FCC, NPCI host world’s largest virtual fintech event: To bring together fintech and BFSI ecosystems across the globe, the Fintech Convergence Council (FCC), the flagship fintech committee of Internet & Mobile Association of India (IAMAI) along with National Payments Corporation of India (NPCI) and the Payments Council of India (PCI) host the Global Fintech Fest (GFF), an international virtual event. The event is presented by the Department of Economic Affairs (DEA), Ministry of Finance, Government of India and the Reserve Bank of India (RBI). The two-day event themed ‘Fintech: With and Beyond Covid’ with over 100 speakers. It will have more than 10,000 participants from 50 countries

 

8. Cipla is all set to launch Favipiravir for COVID-19 treatment: Pharmaceutical firm Cipla is all set to launch Favipiravir, developed by the Council of Scientific and Industrial Research (CSIR) in a cost-effective process, for the treatment of COVID-19 patients. An off-patent anti-viral drug, Favipiravir, originally discovered by Fuji Pharma in Japan, has shown promise in clinical trials for the treatment of COVID-19 patients, especially in mild and moderate cases. CSIR-Indian Institute of Chemical Technology (CSIR-IICT) developed a cost-effective process using locally available chemicals to synthesise this Active Pharmaceutical Ingredient (API) and transferred the technology to Cipla. Cipla has scaled up the process in their manufacturing facility and approached DCGI (Drug Controller General of India) for permission to launch the product in India. Given that DCGI has given restricted emergency use for Favipiravir in the country, Cipla is now all set to launch the product to help patients suffering from COVID-19.

 

INTERNATIONAL UPDATES:

 

1. WHO launches New COVID-19 Law Lab for implementing legal frameworks for the global Pandemic response: The World Health Organization (WHO) has launched COVID-19 Law Lab on 22 July 2020, which is a database of laws that countries have implemented in response to the pandemic. The main aim of this law lab is to ensure that laws protect the health and wellbeing of individuals and communities and that they adhere to international human rights standards. The new Lab (at www.COVIDLawLab.org) is a joint project of United Nations Development Programme (UNDP), the World Health Organization (WHO), the Joint United Nations Programme on HIV/AIDS (UNAIDS) and the O’Neill Institute for National and Global Health Law at Georgetown University. The COVID-19 Law Lab initiative will gather and share legal documents from over 190 countries across the world to help states establish and implement strong legal frameworks to manage the pandemic.

 

2. NASA to Launch ASTHROS Mission to study Cosmos using football stadium-sized balloon: NASA has planned to launch a new mission ‘ASTHROS’, to observe wavelengths of light invisible from the Earth, in a bid to find answers about formation of giant stars in the galaxy. Under the mission NASA will send a telescope, on a football stadium-sized balloon, high into the stratosphere. The telescope mission ASTHROS stands for Astrophysics Stratospheric Telescope for High Spectral Resolution Observations at Submillimeter-wavelengths The mission is likely to be launched in December 2023 from Antarctica, and will be managed by NASA’s Jet Propulsion Laboratory. ASTHROS mission will spend about three weeks drifting on air currents above the icy southern continent to observe far-infrared light, or light with wavelengths much longer than what is visible to the human eye at an altitude of about 130,000 feet (40 km) roughly four times higher than commercial airliners fly.

 

OTHER UPDATES:

 

SPORTS

 

1. Ben Stokes overtakes Jason Holder to be world’s top-ranked all-rounder: England’s Ben Stokes has overtaken West Indies captain Jason Holder to become the number one ranked all-rounder in the world. The 29-year-old scored 254 runs and took three wickets as England beat West Indies at Old Trafford to level the three-Test series at 1-1. Stokes is the first English all-rounder to top the rankings since Andrew Flintoff in May 2006.He has also climbed to a career-best third position in the batting rankings. The left-hander is joint third with Australia’s Marnus Labuschagne and behind only Australia’s Steve Smith and India captain Virat Kohli.

 

BANKING AND FINANCE

 

1. RBI releases the Financial Stability Report, July 2020: The Reserve Bank of India (RBI) has released the 21st Issue of the Financial Stability Report (FSR), which reflects the collective assessment of the Sub-Committee of the Financial Stability and Development Council (FSDC) on risks to financial stability, and the resilience of the financial system in the context of contemporaneous issues relating to development and regulation of the financial sector. Highlights: (1) In response to COVID-19, a combination of fiscal, monetary and regulatory interventions on an unprecedented scale has ensured normal functioning of financial markets.

(2) The overleveraged non-financial sector, simmering global geopolitical tensions, and economic losses on account of the pandemic are major downside risks to global economic prospects.

(3) Actions undertaken by financial sector regulators and the Government to mitigate the impact of COVID-19 eased operational constraints and helped in maintaining market integrity and resilience in the face of severe risk aversion.

(4) Bank credit, which had considerably weakened during the first half of 2019-20, slid down further in the subsequent period with the moderation becoming broad-based across bank groups.

(5) The capital to risk-weighted assets ratio (CRAR) of Scheduled Commercial Banks (SCBs) edged down to 14.8 per cent in March 2020 from 15.0 per cent in September 2019 while their gross non-performing asset (GNPA) ratio declined to 8.5 per cent from 9.3 per cent and the provision coverage ratio (PCR) improved to 65.4 per cent from 61.6 per cent over this period.

(6) Macro stress tests for credit risk indicate that the GNPA ratio of all SCBs may increase from 8.5 per cent in March 2020 to 12.5 per cent by March 2021 under the baseline scenario; the ratio may escalate to 14.7 per cent under a very severely stressed scenario.

(7) Network analysis reveals that total bilateral exposures among entities in the financial system declined marginally during 2019-20; with the inter-bank market continuing to shrink and with better capitalisation of public sector banks (PSBs), there would be reduction in contagion losses to the banking system under various scenarios in relation to a year ago.

 

2. PhonePe partnered with ICICI Lombard to offer Hospital Cash cover: Digital payments platform PhonePe partnered with 'ICICI Lombard' to launch ‘Hospital Daily Cash benefit’ under Group Safeguard Insurance. It is a customised hospitalisation policy that allows PhonePe users to get an assured amount on hospitalisation due to injury or illnesses including Covid-19. PhonePe users aged 18-65 can get this policy without prior medical tests. PhonePe users can buy the insurance through the app, from the “My Money” section.

 

BUSINESS AND ECONOMY

 

1. India’s GDP to contract 6% in FY21: DBS: Singaporean brokerage firm DBS Bank Ltd has estimated that the Indian economy will contract by 6 percent in FY21 (2020-21). In its previous forecast,, DBS had estimated – 4.8 percent growth for FY21. The reason for this downward revision is the prolonged sub-normal reopening as the country is yet to stabilize the infection curve and the pandemic is going to take a deeper economic bite.

 

AWARDS AND HONOURS

 

1. Central Marine Fisheries Research Institute adjudged the best research institute under ICAR: The Central Marine Fisheries Research Institute (CMFRI) has been adjudged as the best research institute of the Indian Council of Agricultural Research (ICAR). CMFRI won the Sardar Patel Outstanding ICAR institutions award, the highest award of the ICAR with a cash prize of ₹10 lakh, in the category of the large institutions. This is in recognition of CMFRI’s excellent performance in marine fisheries research during the 2014-19 period 

Daily GK Updates - 24th July, 2020

NATIONAL UPDATES:

 

1. Kakrapar Atomic Power Project (KAPP-3) Gujarat attains its first criticality: The Unit 3 of the Kakrapar Atomic Power Project (KAPP-3) in Gujarat achieved its ‘first criticality’ at 9.36 am on 22 July 2020. KAPP-3 is India’s first 700 MWe (megawatt electric) Pressurised Heavy Water Reactor (PHWR) as well as biggest indigenously developed variant of the Pressurised Heavy Water Reactor (PHWR). Significance of attaining criticality: A nuclear reactor attains criticality when every nuclear fission event releases a sufficient number of neutrons to sustain an ongoing series of reactions or a self-sustaining chain reaction. These reactions then produces heat, which is used to generate steam that then spins a turbine to create electricity

 

2. Actor Sonu Sood Launches ‘Pravasi Rojgar’ app to help migrants find job opportunities: In order to help the migrant workers find right job opportunities in various sectors across the country, a new ‘Pravasi Rojgar’ app has been launched. This online platform is the brainchild of Bollywood actor Sonu Sood, who launched the free online platform on 23 July 2020 in Mumbai. The initiative will be supported by community outreach in the villages to find the right employment opportunities for migrant workers in different parts of the country. The app features job opportunities from over 500 reputed companies related to construction, apparel, healthcare, engineering, BPOs, security, automobile, e-commerce and logistics sectors. Support centres, with a 24-hour helpline, have been set up in seven cities including Delhi, Mumbai, Bangalore, Hyderabad, Coimbatore, Ahmedabad and Thiruvananthapuram. Apart from this, the platform will also offer specific job training programmes like spoken English.

 

3. DRDO sets up Covid testing facility at DIHAR in Leh: The Defence Research and Development Organisation (DRDO) has set up a Covid-19 testing facility in Leh, Ladakh. The testing facility was inaugurated by Ladakh Lieutenant Governor R K Mathur on 22 July 2020 and will increase the rate of testing to identify corona cases in the region. The facility has been established at the Defence Institute of High Altitude Research (DIHAR), Leh, one of the life sciences laboratories of DRDO. The DIHAR testing facility is capable of screening 50 samples per day. It can also be utilised for training manpower for Covid testing. Besides, the facility will be of great help to address future bio-threats and carrying out R&D activities pertinent to agro-animal diseases.

Note: Chairman of Defence Research and Development Organisation: G Satheesh Reddy.

Lieutenant Governor of Ladakh: RK Mathur.

 

4. Airtel Payment Bank ties up with NSDC to develop skill in rural youth: Airtel Payments Bank Ltd and National Skill Development Corporation (NSDC) have collaborated in order to train and skill young people in rural areas on financial services and helping them in finding jobs and become entrepreneurs in the sector. The collaboration has an objective to design & conduct focused skill development programs for rural youth and enabling them to adopt the tools to boost online banking and digital financial services. After the completion of skill development programmes, both the organizations will leverage their industry connections to help the trainees find jobs.

Note: Managing Director & Chief Executive Officer of Airtel Payments Bank: Anubrata Biswas.

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

 

5. Government extends tenure of NCLT Acting President BSV Prakash Kumar for one month: The Ministry of Corporate Affairs (MCA), Government of India, has extended the tenure of the Acting President of the National Company Law Tribunal (NCLT) BSV Prakash Kumar for one more month, with effect from 5 July 2020. This is the second extension given to BSV Prakash Kumar. He was appointed as Acting President of NCLT for a period of three months from January 5 after the retirement of Justice MM Kumar as NCLT President. In April 2020, the government had extended the tenure of BSV Prakash Kumar for three months, which ended on July 5. However, since no permanent President has yet been finalized, so the government has further extended his tenure for a month till 5 August 2020.

 

6. Alok Misra becomes new CEO & Director of MFIN: Microfinance Institutions Network (MFIN) has appointed Alok Misra as its new Chief Executive Officer & Director. The appointment will be effective from 1st August 2020. Dr Misra takes over from the present CEO, Harsh Shrivastava, who has put down his papers after spending over 2 years at MFIN. Misra is currently serving as the professor and chairperson of public policy and governance at MDI Gurgaon. He has 28 years of professional experience in international development, rural finance, microfinance, inclusive finance, and research and has worked with 22 countries.

Note: MFIN Headquarters: Gurgaon, Haryana.

 

7. AIIMS Nagpur launched smart wristband to tracks Covid-19 patients:  All India Institute of Medical Sciences (AIIMS), Nagpur has designed and developed a ‘smart wristband’ for effective tracking and monitoring of Covid-19 positive and suspect patients. The new device, a wristband is designed in collaboration with IIT Jodhpur and IIT Nagpur, looks to overcome the limitations of existing online mobile apps used for tracking and monitoring coronavirus patients. The device will operate on a technology that is more effective than the GPS system. The data collected through wristband will be collected and archived on cloud facilitating monitoring by health workers from a distance.

 

INTERNATIONAL UPDATES:

 

1. Turkmenistan gets observer status in World Trade Organization: World Trade Organization (WTO) General Council has granted the “Observer” status to the central Asian country Turkmenistan. With this, Turkmenistan has become the last former Soviet republic to establish formal ties with the trade body. Turkmenistan has become the 25th observer of the organization. Turkmenistan will now be able to reap the benefits of acquisition of the status as it would help the country to develop its economy, promote multilateral cooperation, attract foreign investment and develop international trade relations.

Note: Director-General of World Trade Organization: Roberto Azevedo; World Trade Organization (WTO) headquarter: Geneva, Switzerland

President of Turkmenistan: Gurbanguly Berdymukhamedov; Capital: Ashgabat; Currency: Turkmen manat.

 

2. Nicaragua becomes 87th country to sign International Solar Alliance Framework Agreement: Nicaragua has become the most recent country to join the International Solar Alliance (ISA) Framework Agreement, an initiative led by India to promote sustainable energy. The agreement on behalf of the Central American country Nicaragua was signed by the Permanent Representative to the United Nations Jaime Hermida Castillo at the Permanent Mission of India to the United Nations in New York on 22, July 2020. With this, Nicaragua has become the 87th country to sign the agreement.

Note: International Solar Alliance Headquarters: Gurugram, Haryana.

Capital of Nicaragua: Managua; Currency of Nicaragua: Nicaraguan Cordoba; President of Nicaragua: Daniel Ortega.

 

OTHER UPDATES:

 

BANKING AND FINANCE

 

1. FamPay launches ‘numberless card’ for teenagers: India’s first Neobank for teenagers, FamPay has launched India’s first numberless card, “FamCard”. Teenagers can now use FamCard like a debit card to make payments independently, without asking parents for physical cash or their debit/credit card. FamCard is a numberless card, all the card details are saved on the FamPay app and there is no need to refer to the physical card to fill in details during online transactions. If in any case card gets stolen, there’s no fear as the card can be paused, blocked, and managed at fingertips on the app. The numberless card will give cashless convenience to millions of teens and their parents. Minors can also pay online/offline by using FamCard as it doesn’t require any bank account. Every transaction is protected with device locks like a fingerprint, Face ID, pattern lock, or PIN. The numberless card can be ordered once the account is set up on the app, after both the parent and teen complete their KYC online. FamPay app is available for both Android and iOS on the Google Play Store and Apple Store respectively. The FamCard is an innovative consumer solution for India’s Gen-next population.

Note: FamPay Headquarters: Bengaluru, Karnataka; FamPay Founders: Kush Taneja & Sambhav Jain.

 

2. Bank of Baroda rolls out ‘Insta Click Savings Account’: India’s third-largest public sector bank, Bank of Baroda (BoB) has launched ‘Insta Click Savings Account’. Insta Click Savings Account is a 100% paperless digital self-assisted online savings account. This account uses a new form of digital KYC (know-your-customer) and Aadhaar-based OTP (one-time personal identification number) authentication of the customer, which can be operated from the bank’s website, through mobile phone, IPad, laptop, and PC. The account is activated in real-time, which means the customer can start transacting, using the Baroda M Connect Plus application with the MPIN received on the mobile number, immediately.

Note: Bank of Baroda Headquarters: Vadodara, Gujarat; Bank of Baroda MD & CEO: Sanjiv Chadha.

 

3. Amazon Pay ties up with Acko to sell auto insurance: Digital payments major, Amazon Pay has launched vehicle insurance in partnership with Bengaluru-based startup Acko General Insurance. Amazon Pay, a payments unit of Amazon India, will help customers purchase insurance effortlessly and Amazon Prime members will get extra benefits including additional discounts. Amazon has been selling third-party insurance products but this partnership will enable an easy-to-use integrated buying experience for its customers. Policyholders will also have an option for instant cash settlements for low-value claims, making it beneficial for customers. Additionally, customers can select from a list of add-ons like zero-depreciation and engine protection and they will be able to pay for the insurance using Amazon Pay balance, UPI, or cards.

Note: Amazon Pay Headquarters: Seattle, Washington United States; CEO & MD for Amazon Pay India: Mahendra Nerurkar.

Acko General Insurance Ltd Founder: Varun Dua; Acko General Insurance Ltd Headquarters: Mumbai.

 

BUSINESS AND ECONOMY

 

1. CCI approves acquisition of Krishnapatnam port by Adani Ports & SEZL: Acquisition of Krishnapatnam Port Company Limited (KPCL) by Adani Ports and Special Economic Zone Limited (Adani Ports) has been approved by the Competition Commission of India (CCI). According to the proposed combination, Adani Ports will acquire equity shareholding along with management control of KPCL. Adani Ports is a customer-facing integrated port infrastructure services provider and manages the logistics chain. KPCL operates the deep water port at Krishnapatnam, Andhra Pradesh, as per the the concession agreement on Build-Operate-Share-Transfer basis with Government of Andhra Pradesh for a period of thirty years from the date of commercial operations. It is also entitled for a further period of 20 years. Adani Ports is a customer-facing integrated port infra-services provider in 6 maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu, Odisha.

Note: Chairperson of Competition Commission of India: Ashok Kumar Gupta.

 

DEFENSE

 

1. Indian Navy’s Largest solar power plant commissioned at Indian Naval Academy in Kerala: The largest solar power plant of the Indian Navy has been commissioned at the Indian Naval Academy, Ezhimala, located near Payyanur, in Kannur district of Kerala. The 3 MW Solar Power Plant was commissioned via virtual conferencing, by Vice Admiral Anil Kumar Chawla on 23 July 2020.  It is a 3 MW Solar Power Plant which has been set-up in line with the Indian Government’s initiative of ‘National Solar Mission’ which aims to achieve 100GW of solar power by 2022. The 3 MW Solar Power Plant established at Indian Naval Academy, Ezhimala is the largest in the Indian Navy and has an estimated life of 25 years. Kerala State Electronics Development Corporation Ltd (KELTRON) has executed this project. The project will also support Naval Station Ezhimala in decreasing the carbon foot print.

Note: Chief of Naval Staff: Admiral Karambir Singh.

 

OBITUARIES

 

1. Eminent danseuse & choreographer Amala Shankar passes away:  Eminent danseuse and choreographer Amala Shankar passed away. She was honored with the West Bengal government’s Banga Bibhusan award in 2011 for her contributions to art. First performance of Amala Shankar was in Kaliya Daman which was staged in Belgium in 1931. She also acted in the film “Kalpana” which was released in 1948.

 

2. Legendary Jazz Singer Annie Ross passes away: Legendary Jazz Singer, Annie Ross passed away. She was a popular jazz singer in the 1950s before crossing over into a successful film career. Ross appeared in “Superman III,” “Throw Momma From the Train” and Robert Altman’s films “The Player” and the Oscar-nominated “Short Cuts.” In 2014, Ross released the album “To Lady With Love,” a tribute to Billie Holiday.