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Important Current Affairs 6th June 2020

National

India to donate USD 15 million for Global Vaccine Alliance

• India has pledged to make donation of USD 15 million for GAVI - Global Alliance for Vaccines and Immunisation. The donation was made during the virtual Global Vaccine Summit that was hosted by United Kingdom (UK).

• Prime Minister Modi attended the meeting and mentioned that the huge demand for the vaccine in India will make it cheaper.

Ayush Ministry launches 'My Life, My Yoga' international competition

• The Ministry of Ayush launched the My Life, My Yoga international video-blogging competition on June 5, 2020. The competition invites participation from people across the globe.

• The participants have been asked to post a 3-minute video on their social media accounts by tagging the Ministry of Ayush to participate in the competition.

• The participants can also use the hashtag “My Life, My Yoga” in the comment section on the social media platforms while sharing their video blogs. The winners will be awarded Rs 1 lakh cash prize.

Important Cabinet Approvals

The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi held meeting. Following are the major approvals given during the meet:

• Renaming of Kolkata Port as Syama Prasad Mookerjee Port. The Kolkata Port is the first Major Port as well as the only riverine port of the country.

• Re-establish Pharmacopoeia Commission for Indian Medicine & Homoeopathy (PCIM&H) as Subordinate Office under Ministry of AYUSH by merging into it Pharmacopoeia Laboratory for Indian Medicine (PLIM) and Homoeopathic Pharmacopoeia Laboratory (HPL)- the two central laboratories established at Ghaziabad since 1975.

• Setting up of an “Empowered Group of Secretaries (EGoS) and Project Development Cells (PDCs) in Ministries/Departments of Government of India for attracting investments in India”. This new mechanism will reinforce India’s vision of becoming a US$ 5 trillion economy by 2024-25.

• Signing the Memorandum of Understanding between the Government of the Republic of India and the Royal Government of Bhutan on Cooperation in the areas of Environment.

Banking and Economy

RBI creates Payment Infrastructure Development Fund

• The Reserve Bank of India created Payment Infrastructure Development Fund of Rs 500 crores. The apex bank has made an initial contribution of Rs 250 crores towards the funds. The rest of the fund is to come through the card issuing banks.

• The fund has been created to increase point of sale infrastructure and other digital payment infrastructure in the country.

• The funds are being allocated in line with the measures proposed in the vision document on payment and settlement systems in India 2019-21.

• The funds are to be governed through an advisory council. However, the funds will be administered and managed by RBI.

IndusInd Bank Launches India’s First Mobile-based current account opening facility

• IndusInd is the first bank in India to introduce this assisted mobile application based facility which will enable the Bank to open current accounts for self-employed individuals and businesses digitally, in just a few hours.

• The IndusInd app uses multiple ‘Application Programme Interface’ (APIs) and enables secured validation of KYC documents from authorised government platforms such as the Goods and Service Tax (GST), Ministry of Corporate Affairs (MCA), National Securities Depository Limited (NSDL), Import Export Code (IEC) and Aadhaar.

Axis Bank MasterCard and World line launches ‘Soft POS’, first financial payments service

• Axis Bank Ltd, Mastercard India & World line India partnered to launch a digital point-of-sale(POS) solution ‘Soft POS’, the 1st financial payments service in India to transform everyday smartphones into merchant POS terminals.

• Soft POS provides a cost-effective card acceptance solution for all micro-merchants and SMEs in India by eliminating the need to invest in a POS device. The app allows banks to have complete visibility of a merchant’s transactions, which makes it easier for small merchants to get business loans.

• It helps offline merchants and Kirana stores accept payments using their smartphones.Merchants can accept contactless payments directly by their own Android smartphones, this functionality is called “Tap on Phone” which means a cardholder can tap his/her contactless card on the merchant Smartphone with NFC functionality and so encourages social distancing.

• The solution enables merchants to accept payments through various digital form factors which include Bharat QR, sending payment links to customers and accepting Near Field Communication(NFC) based technology payments to boost contactless payments in the country.

Acquisitions and Mergers

Jio-Mubadala deal for 1.85% Stake in Jio Platforms

• Abu Dhabi-based firm, Mubadala Investment Company has recently invested into Reliance Jio Platforms to acquire 1.85 percent stake in the company. Under this deal, Mubadala will be investing Rs 9,093.60 crore into Jio Platforms., the telecom branch of Mukesh Ambani-led Reliance Industries Limited (RIL).

• The Jio-Mubadala deal awaits regulatory and customary approvals. It is the sixth such deal in last 1.5 months. The other five deals were carried out with Facebook, Silver Lake, General Atlantic, Vista Equity Partners and KKR.

Appointments and Resignations

Brajendra Navnit becomes India’s new ambassador to WTO

• India has appointed Brajendra Navnit as India’s new ambassador to the World Trade Organization (WTO). He is a 1999 batch IAS officer of Tamil Nadu cadre. He will be posted at the Permanent Mission of India (PMI) to the WTO in Geneva.

• Navnit, who recently completed his tenure as Joint Secretary in the Prime Minister’s Office. He replaces JS Deepak at the PMI, whose two-year extended term ended on May 31.

Swapna 1 Months ago
thank you
Vinita verma 1 Months ago
Thanku sir इतनी जानकारी देने के लिए

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