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Important Current Affairs 9th September 2020

National

First World Solar Technology Summit of the International Solar Alliance (ISA) held

• The first-ever World Technology Summit was scheduled on September 8, 2020, and it was organized by the International Solar Alliance (ISA) and FICCI on a virtual platform.

• Dharmendra Pradhan, the Union Minister of Petroleum & Natural Gas and Steel addressed the inaugural session as well as the valedictory session of the summit. More than 26000 participants from 149 countries joined the virtual Summit.

• The first world solar technology summit aims to focus on state-of-art technologies and the next-generation technologies that will help towards harnessing solar energy more efficiently.

• The Summit included signing of four agreements between

 ISA and International Institute of Refrigeration,

 ISA and Global Green Growth Institute.

 ISA and National Thermal Power Corporation,

 A tripartite agreement between India’s Ministry of New and Renewable Energy, the World Bank and the International Solar Alliance.

• ISA also launched a Journal on Solar Energy (I JOSE) that would help authors from across the globe to publish their articles on solar energy.

Tamil Nadu government releases new Electronic Hardware Manufacturing Policy 2020

• Tamil Nadu state government on September 7, 2020, released a new Electronic Hardware and Manufacturing Policy 2020 which aims at increasing the state’s electronics industry output to $100 billion by 2025.

• The policy will also be undertaking the skill training of over 1,00,000 semi-skilled and skilled people by 2024 in order to meet the incremental human resource requirement.

International

Apple’s first ‘floating’ store to be launched in Singapore

• Technology giant Apple Inc. has announced that it is going to open its first ever “floating” store, in Singapore on 10th September 2020.

• The floating Apple Store, will be located at Singapore’s posh Marina Bay Sands resort. It will be the third retail store of Apple in Singapore.

Banking and Economy

RBI announces OMO for sale, purchase of government securities of Rs 10,000 crore

• The Reserve Bank of India (RBI) will conduct simultaneous purchase and sale of government securities under the Open Market Operation (OMO) for Rs 10,000 crore each on September 10.

• The RBI on August 31 had announced that it would conduct special simultaneous purchase and sale of government securities under OMO for an aggregate amount of Rs 20,000 crore in two tranches of Rs 10,000 crore each as part of its measures to foster orderly market conditions.

• “The first auction is scheduled for September 10, 2020. It would be selling three securities totalling Rs 10,000 crore and also purchasing equal number of securities of the same amount.

Fitch Ratings Projects Indian economy to contract 10.5% in FY21

• In its September update of Global Economic Outlook (GEO), the US-based Fitch Ratings has sharply lowered the forecast for the gross domestic product (GDP) growth of India for the current fiscal 2020-21 (FY21) and now expects the GDP to contract 10.5 percent.

• Earlier in June Global Economic Outlook, the rating agency has estimated 5 percent contraction for FY21.

• The downward revision comes after India’s GDP shrank by 23.9% year-on-year in the April-June quarter, the worst performance in nearly four decades.

• The rating agency has also revised its forecast for global GDP and expects it to fall by 4.4 percent in 2020, which is a modest upward revision from the 4.6 percent contraction expected earlier.

Banks sanction loans of Rs 1.61 lakh crore to MSMEs under credit guarantee scheme

• Banks have sanctioned loans of about Rs 1,61,017 crore under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector reeling under the slowdown caused by the C-19 pandemic.

• However, disbursements against this stood at Rs 1,13,713 lakh crore till September 3.

Summits and Mou’s

AIM partnered with Freshworks to empower AIM Startup Innovators

• Atal Innovation Mission (AIM), NITI Aayog, has partnered with Freshworks Inc., a customer-engagement software company, with an aim to provide robust support to innovators and entrepreneurs in India.

• It also aims to increase the efficiency of several institutions and startups in the AIM portfolio.It also aims to foster innovation and entrepreneurship among startup innovators.

Obituary

Father of Indian Radio Astronomy Govind Swarup passes away

• Father of India’s Radio Astronomy, Prof Govind Swarup passed away.He was the founding director of National Centre for Radio Astrophysics of Tata Institute of Fundamental Research.

• Govind Swarup was the key person behind the concept, design and installation of the Ooty Radio Telescope (India) and the Giant Metrewave Radio Telescope (GMRT), which established India as one of the leading countries for radio astronomy research.

Ranking

A report on ‘Household Social Consumption: Education’: NSO

• A report on ‘Household Social Consumption: Education’ was published by the National Statistical Office (NSO).As per the report, smaller states have done better than the developed ones.

• Average literacy rate of the country is 77.7%. Kerala scored 96.2% thus has the highest literacy rate among states. Delhi stands at second position with 89% literacy rate. Uttarakhand is at number three with a literacy rate of 87.6% while Assam freezes at number four with 85.9% literacy rate.

• Andhra Pradesh ranked the worst with 66.4% literacy rate. The male literacy rate is 84.7% while the female literacy rate is 70.3%, nationally.

Bengaluru tops the list of cities for career in AI

• Hyderabad is one of the top five cities in the country to offer jobs in the field of artificial intelligence (AI), a latest report by job portal site Indeed has revealed.

• Bengaluru tops the list of destinations for a career in AI, followed by Mumbai, Hyderabad, Pune, and Chennai.

• Job searches in the field have risen 106 per cent in the past year (June 2019 to June 2020), and this has increased further by 20 per cent from March to July 2020, in line with the onset of the pandemic.

Days

International Day to Protect Education from Attack

• International Day to Protect Education from Attack is observed globally on 9th September. In proclaiming the International Day to Protect Education from Attack to be celebrated for the first time in 2020.

• The Day draws attention to the plight of more than 75 million 3-to-18-year-olds living in 35 crisis-affected countries and to their urgent need of educational support.

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