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Important Current Affairs 12th June 2020

National

Population of Asiatic Lions in Gujarat’s Gir Forests increase by 28.87 percent in five years to 674

• The population of Asiatic Lions in the Gir forest region of Gujarat has witnessed a massive jump of 28.87 percent in the last five years, from 523 in 2015 to 674 in 2020.

• The state forest department conducted an exclusive population estimation exercise called Poonam Avalokan (full-moon night estimation exercise), on the night of June 5 and 6 when there was full moon.

• The population of 674 comprises of 161 males, 260 females, 116 sub-adult lions and 137 cubs. It is the highest growth rate recorded so far.

“Panchvati Yojna” launched in Himachal Pradesh

• Himachal Pradesh Chief Minister Jai Ram Thakur has launched “Panchvati Yojana” for the senior citizens of rural areas of the state. Under the “Panchvati Yojana”, state government of Himachal Pradesh will set up parks and gardens in every development block with all the necessary amenities.

• State government is eying to develop 100 such parks in the state in the current financial year.

International

Apple becomes first US company to hit $1.5 trillion market cap

• On 10 June 2020, US based tech-giant Apple Inc’s market capitalization surpassed $1.5 trillion, making it the first U.S. company to reach that mark.

• Market capitalization is the share price multiplied by the number of outstanding shares of the company’s stock, yielding the company’s overall stock market value.

• At a current price of around $352 per share and with roughly 4.3 billion shares outstanding, Apple’s market capitalization is now at around $1.53 trillion.

Banking and Economy

RBI releases Framework for sale of Loan Exposure and Securitization of Standard Assets

The Reserve Bank of India recently released draft framework for “Sale of Loan Exposures” and “Securitization of Standard Assets”.

The guidelines issued are applicable to Scheduled Commercial Banks. This includes All India Financial Institutions such as EXIM Bank, NABARD, Non-Banking Financial Companies.

The Guidelines has proposed Two Capital Measurement approach. This includes Securitisation External Ratings based approach and Securitisation Standardised Approach.

Fitch Ratings Projects Indian economy to grow at 9.5% in FY22

• Fitch Ratings has forecast India’s GDP growth rate of 9.5 percent in the fiscal year 2021-22.

• Earlier, Fitch Ratings had forecast a 5 percent contraction in the GDP in the ongoing financial year 2020-21.

• Further, it estimates that India’s GDP growth is likely to return to higher levels than ‘BBB’ category peers after the global crises.

OECD Projects India’s GDP at -7.3% for FY21 if  strikes again

• The Organization for Economic Co-operation and Development (OECD), in its OECD Economic Outlook, has projected India’s economy to contract 7.3 percent in the current fiscal year 2020-21 if there is a second wave of the  () later this year.

• However, OECD expects the economy to contract 3.7 percent during the year 2020 if there is no second wave. Further, for the fiscal year 2021-22, GDP is estimated at 8.1 percent in case of a second wave and at 7.9 percent in other case, i.eno second wave.

Acquisitions and Mergers

Empays partners with Mastercard to enable contactless ATM withdrawals

• Cloud-based payment solutions provider, Empays Payment Systems India has partnered with Mastercard to launch contactless ATM solution in India due to virus.

• Under the partnership, Mastercard will help Empays to launch ‘Cardless ATM powered by Mastercard.

Obituary

Former member of Planning Commission, A. Vaidyanathan passes away

• The former member of the Planning Commission, A. Vaidyanathan passed away. He was a member of the perspective planning division of the Planning Commission from 1962 to 1972.

• He was also a professor at the Madras Institute of Development Studies and Centre for Development Studies.

Days

World Day Against Child Labour

• The World Day Against Child Labour is held every year on June 12 to raise awareness and activism to prevent child labour.

• The theme for 2020 is “C-19 – Protect children from child labour now, more than ever”.

• It is an International Labour Organization (ILO)-sanctioned holiday first launched in 2002, and is intended to foster the worldwide movement against child labour in any of its forms.

World Accreditation Day (WAD)

• The World Accreditation Day (WAD) is celebrated every year on 9 June to promote the role of accreditation in trade & economy.

• The theme for WAD 2020 is “Accreditation: Improving Food Safety”.

Narendra kumar 1 Months ago
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