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Important Current Affairs 16th July 2020

National

Madhya Pradesh Tops in the Implementation of PM SVANidhi

• Madhya Pradesh has topped in implementation of the Pradhan Mantri Street Vendors AtmaNirbhar Nidhi (PM SVANidhi) by sanctioning an interest-free loan of around Rs 15.50 crore to 15,500 street vendors in the state.

• PM SVANidhi is a central sector scheme to help and formalize the street vendors involved in small businesses across the country. The scheme is funded by the Ministry of Housing and Urban Affairs.

DRDO develops P7 Heavy Drop System

• The Defence Research and Development Organisation (DRDO) has developed P7 Heavy Drop System that is capable of para dropping military stores up to 7-ton weight class from IL 76 aircraft.

• The system is fully indigenous and is being manufactured by L&T who makes the platform system, parachutes manufactured by Ordnance Factory.

International

UK bans companies from sourcing 5G equipment from Huawei

• The United Kingdom has imposed a ban on its telecom companies from sourcing 5G equipment from Chinese telecom company Huawei. The announcement was made by UK’s Digital Secretary Oliver Dowden after a meeting chaired by UK Prime Minister Boris Johnson.

• UK’s Digital Secretary informed the British parliament that from the end of this year, telecom providers must not buy any 5G equipment from Huawei. Under the new guideline, the British telecom operators will be required to remove all 5G-related equipment, supplied by Huawei, from their infrastructure by 2027.

Tunisia’s Prime Minister Elyes Fakhfakh resigns

• Prime Minister of Tunisia, Elyes Fakhfakh has submitted his resignation to the President of Tunisia.

• His resignation has come after a campaign to oust him in a vote of no confidence gathered momentum and to avoid more conflicts between state institutions in the country.

Summits and Mou’s

Google-Jio partnership to 5G in India: Reliance Industries 43rd  AGM 2020

• Reliance Industries Chairman and Managing Director, Mukesh Ambani has confirmed the Google will be Reliance Industries' new strategic partner. The announcement was made during the 43rd Annual General Meeting on July 15, 2020.

• The new strategic partner was introduced by Mr. Ambani after he mentioned all the entities that have invested in Jio Platforms. He informed that Google will invest 33,737 crores for a 7.7 percent stake in Jio Platforms.

• Reliance Jio in partnership with Google will develop an android-based smartphone operating system to increase access to smartphones. The main objective is to accelerate India's digital economy.

Appointments and Resignations

ADB appoints Ashok Lavasa as new Vice President

• Election Commissioner Ashok Lavasa has been appointed as the Vice President of the Asian Development Bank. The development comes just a few months before Lavasa was scheduled to take over as the Chief Election Commissioner (CEC).

• In his new position, Ashok Lavasa will be looking after the Private Sector Operations and Public-Private Partnerships. Ashok Lavasa has more than two years left in his term at the Election Commission of India. He would have retired as the CEC in October 2022.

Books and Authors

A book titled “If It Bleeds” authored by Stephen King released

• A new book titled “If It Bleeds”, a collection of four stories, authored by Stephen King has been released. The book published by Hachette India.

• The book has the story centres around a bomb at Albert Macready Middle School. It is a sequel to his bestselling work, “The Outsider”.

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