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Important Current Affairs 6th May 2020

National

Indian Navy launches “SamudraSetu” Operation

• The Indian Navy has launched ‘SamudraSetu’ operation as a part of the nation's efforts to bring back Indian citizens from abroad. The operation’s name means ‘sea bridge’.

• Under the operation, INS Jalashwa and Magar have departed for the port of Male in the Maldives to begin the evacuation of Indian citizens.

Government launches Saras Collection on GeM Portal

• The Government has introduced a new initiative, ‘The Saras Collection’ on Government e Marketplace (GeM) portal, which will showcase exquisitely handcrafted products from finest Self Help Groups in India.

• This new platform was inaugurated by Union Minister of Rural Development Narendra Singh Tomar on 4th May 2020 in New Delhi, to help SHGs in accessing government markets.

• The Saras collection has exclusively been designed to showcase the daily utility products handmade by rural Self Help Groups (SHGs), and to provide them with access to Central and State Government buyers.

50.37 lakh people internally displaced in India in 2019: UNICEF

• More than five million people (50,37,000) were internally displaced in India due to natural disasters, conflict and violence in 2019 as per “The Lost at Home’ report”, published by the UN Children’s Fund (UNICEF).

• India has the highest number of new internal displacements in the world in 2019. Philippines, Bangladesh and China are on 2nd, 3rd and 4th spot respectively.

International

China launches large rocket ‘ Long March 5B carrier’

• China's new Long March 5B carrier rocket took its maiden flight on May 5, 2020 carrying the trial version of the country's new-generation manned spaceship and a cargo return capsule for test into space.

• The large white rocket blasted off from Wenchang Space Launch Centre in China's island province of Hainan.

• The successful launch of the spacecraft is the third step towards China's manned space program, which includes the construction of a space station.

Science and Technology

DRDO develops "UV Blaster" sanitisation tower

• Defence Research and Development Organisation (DRDO) has developed an Ultraviolet (UV) disinfection tower for disinfecting areas that are high infection prone. The tower named ‘UV Blaster’ is an area sanitizer based on ultraviolet technology.

• The equipment has been designed and developed by Laser Science and Technology Centre (LASTEC), the Delhi-based premier laboratory of DRDO, with the help of New Age Instruments and Materials Private Limited, Gurugram.

Appointments and Resignations

Indian-origin Ashok Michael Pinto nominated to IBRD as US representative

• Indian-origin Ashok Michael Pinto has been nominated to International Bank for Reconstruction and Development (IBRD) as a representative of the United States.

• Pinto's nomination was made by President Donald Trump for a period of two years. His appointment will become effective after the approval of US Senate.

Ranking

Amazon tops the BrandZ Top 75 Most Valuable Global Retail Brands 2020 Ranking

• Amazon has topped the BrandZ Top 75 Most Valuable Global Retail Brands 2020 ranking. BrandZ ranking was unveiled by WPP and Kantar. It has a brand value of $ 415.855 billion

• Alibaba is on the second rank followed by McDonald’s on the third spot.

Days

World Hand Hygiene Day

• Every year, the World Health Organization (WHO) marks the World Hand Hygiene Day  on May 5 to raise awareness among people across the globe about the importance of hand hygiene in warding off many serious infections.

• The theme for 2020 is ‘Save Lives: Clean Your Hands’.

World Asthma Day 2020

• The World Asthma Day takes place on the first Tuesday in the month of May.

• The day is annually organised by the Global Initiative for Asthma (GINA) to raise asthma awareness, care and support around the world for those people who are affected by asthma.

• The theme of 2020 World Asthma Day is Enough Asthma Deaths.

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Important Current Affairs 3rd May 2020

National

CAIT to launch national e-commerce marketplace 'bharatmarket'

for retail traders

• Confederation of All India Traders (CAIT) will soon launch a national e-commerce marketplace named ‘bharatmarket’ for all retail traders.

• The aim of the portal is to bring 95 percent of retail traders onboard the platform, who will be the shareholders. The portal will be run exclusively by the traders.

• The pilot of this project has been started in six cities — Prayagraj, Gorakhpur, Varanasi, Lucknow, Kanpur and Bengaluru.

• The marketplace will integrate capabilities of various technology companies to provide end-to-end services in the logistics and supply chains from manufacturers to end consumers, including deliveries at home.

CSIR-Central Road Research Institute develops “KisanSabha App”

• The CSIR-Central Road Research Institute (CSIR-CRRI), New Delhi has developed a mobile app KisanSabha to connect farmers with supply chain and freight transportation management system.

• The app will enable the farmers in seed/ fertilizer procurement as well as their harvest reaching the market, among other things and thus facilitate the timely delivery of the produce at the best possible prices.

• The KisanSabha App will also help in providing best market rates of crops by comparing nearest mandis, booking of freight vehicle at cheapest cost thereby giving maximum benefit to the farmers.

Kashmir saffron gets GI tag

• Kashmiri saffron, the pride of Jammu & Kashmir, has finally been granted Geographical Indication (GI) tag, thus symbolizing its exclusivity in the international market.

• These saffrons are cultivated and harvested in the Karewas (high lands) of Jammu & Kashmir, by the local farmers, and are known for its unique qualities, which can only be found in saffrons grown and produced in J&K.

• The unique characteristics of Kashmir saffron – longer and thicker stigmas, natural deep-red colour of stigmas, high aroma, bitter flavour, chemical-free processing and high quantity of crocin (colouring strength), safranal (flavour) and picrocrocin (bitterness).

• In India, GI registration is administered by the Geographical Indications of Goods (Registration and Protection) Act, 1999 which came into force with effect from September 2003.  Darjeeling Tea(2004) is the 1st indian product to get a GI tag.

“Ramayana” becomes Highest Viewed Entertainment Programme Globally

• The epic mythological show Ramayan, by RamanandSagar, has scripted new world wide record of becoming the most watched entertainment programme in the world in 2020 as of April 16.

• This announcement was made by Doordharshan (DD) on its Twitter handle on 30 April 2020, based on the data released by Broadcast Audience Research Council (BARC) India.

• As per DD, Ramayan has also clocked the highest viewership record on a single day and has reported a viewership of 7.7 crore as of 16 April 2020.

• Besides this, the record has also contributed to make DD as one of the most viewed channels.

Science and Technology

NASA partners with private companies for Moon-to-Mars campaign

The US space agency NASA has partnered with SpaceX, Blue Origin and Dynetics to build lunar landing systems that can carry astronauts to the moon by 2024.

The mission is accelerated under the space agency’s Moon-to-Mars campaign.For this project, the three companies will share $967 million from NASA.

Obituary

Delhi Historian RV Smith Passes Away at 81

Eminent historian, author and columnist Ronald Vivian Smith, who is best known for his writings on Delhi, passed away due to age-related ailments. He was 81.

Padma Shri Freedom Fighter HemaBharali from Assam, passes away at 101

• Assam born renowned freedom fighter and Padma Shri awardee HemaBharali passed away in Guwahati suffering from prolonged illness.She was 101.

• HemaBharali, who was born on 19 February 1919 was an Indian freedom activist, social worker, Sarvodaya leader and Gandhian known for her contributions for the empowerment of women and efforts towards the upliftment of the socially and financially challenged sections of the society.

• She had received the Padma Shri in 2005.

Appointments and Resignations

Mouhamadou Diagne Appointed Vice President of Integrity at the World Bank Group

• World Bank Group President David Malpass today announced the appointment of Mouhamadou Diagne as Vice President of Integrity (INT) at the World Bank Group.

• Mouhamadou Diagne has a deep track record in protecting institutions against fraud and corruption and a strong leadership record in ensuring accountability, most recently at the Global Fund

Books and Authors

Union Culture Minister launches e-book “Prof. B.B. Lal: India Rediscovered”

• Union Culture Minister Prahlad Singh Patel launched an e-book titled “Prof. B.B. Lal: India Rediscovered”.E-book was launched on the occasion of centenary year of great archaeologist Professor B. B. Lal.

• E-book titled “Prof. B.B. Lal: India Rediscovered” has been prepared by the Ministry of culture along with Prof B BLal Centenary Celebration Committee.

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Important Current Affairs 2nd May 2020

National

Asian Paints to make hand sanitisers

•Asian Paints, India’s largest paint maker, announced on May 1, 2020 that it will start making hand and surface sanitisers under Viroprotek brand. The sanitizers will be made available in the market from next week onwards.

•The sanitisers will be manufactured at Asian Paints’ plant in Ankleshwar, Gujarat. The company stated that it has obtained all necessary permissions from authorities.

Acquisitions and Mergers

Reliance increases its stake to 26.3% in US-based tech company SkyTran

• Reliance Strategic Business Ventures Limited(RSBVL), a wholly-owned subsidiary of Mukesh Ambani-led Reliance Industries Limited(RIL), has increased its stake to 26.3% on a fully diluted basis in US-based SkyTran Incorporated(Inc), a venture-funded technology company which develops modern transport modes including personal rapid transit system.

• RIL has invested in SkyTran to play an active role in advancing solutions, especially in telecom, digital platforms and services, advanced materials, electric batteries and also to develop India’s first pod taxi prototype, a next-generation transportation system

Obituary

Veteran anti-apartheid activist Denis Goldberg passes away

• Veteran South African anti-apartheid activist Denis Goldberg passed away. He was the ally of late South African President Nelson Mandela. He played a key role in South African liberation struggle.

• He was the only white member of the African National Congress’s military wing, Umkhonto we Sizwe (MK).

Sports

FIFA launches #WeWillWin campaign to pay tribute to health workers

• Fédération International de Football Association(FIFA) has launched a campaign called “#WeWillWin”. Through this campaign FIFA tribute a special video to health workers and other professionals who ensure the society continues to function.

• Former India football captain Bhaichung Bhutia who is also featured among 50 past and present football stars.

Appointments and Resignations

Tarun Bajaj appointed as Economic Affairs Secretary

•Tarun Bajaj took charge as the new Economic Affairs Secretary on May 1, 2020. He has assumed charge at a time when the economy is under severe stress due to the ongoing situation.

•Tarun Bajaj is a 1988 batch IAS officer. He was previously serving as the Additional Secretary in Prime Minister's Office. He has succeeded Atanu Chakraborty, who retired on April 30, 2020.

Ajay Tirkey assumes charge as Secretary of WCD Ministry

•Ajay Tirkey has assumed charge as the Secretary in the Ministry of Women and Child Development. He is a 1987 batch IAS officer from Madhya Pradesh cadre.

•He succeeds Rabindra Panwar who retired on April 30, 2020. Ajay Tirkey was earlier serving as the Special Secretary and Additional Secretary in the Ministry.

Ranking

ICC Rankings: India lose top spot to Australia in test rankings

• India has lost its top spot to Australia in ICC test rankings on May 1 and has now dropped to third. The fall in the ranking was because India’s victory in 12 test matches and just one defeat in 2016-2017 was eliminated from the annual update.

• With Australia taking the top spot, India has slipped to the 3rd spot and New Zealand has gained 2nd position in the ICC test rankings.

Days

World Tuna Day

• World Tuna Day is observed globally on 2nd May every year. This day is established by the United Nations (UN) to raise awareness about the importance of tuna fish. It is observed for the first time in 2017.

• According to the UN, an outsized number of nations worldwide depend upon tuna for both food security and nutrition. At the same time, more than 96 countries have tuna fisheries, and their capacity is constantly growing.

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Important Current Affairs 1st May 2020

National

Chhattisgarh top state in providing employment to workers under MGNREGS

• Chhattisgarh has topped the list of states in providing employment to unskilled labourers under the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS).

• The data was released by the Union Rural Development Ministry. Chhattisgarh has provided employment to 18.51 lakh workers under MGNREGS.

• Rajasthan is on second while Uttar Pradesh is on the third.

MP govt launches ‘Jeevan Amrit Yojana’ to boost Immune system

• Madhya Pradesh government has launched ‘Jeevan Amrit Yojana’ to boost the immune system of people to fight disease.

• A target has been set to distribute this packet of 50 grams to 1 crore families of the state.

International

US to host world's largest maritime exercises this year

•The US Navy announced recently that it will host the world’s largest maritime exercises in Hawaii again this year. The drills will be held only at sea.

•The US Navy has hosted the Rim of the Pacific exercises in Hawaii every two years since the early 1970s.

•The military exercise is aimed at being a meaningful exercise with maximum training value and minimum risk to the force, allies and partners, and the people of Hawaii.

Banking and Economy

KVG bank launches “Vikas Abhaya” loan scheme

• Karnataka VikasGrameenaBank(KVGB) has launched ‘VikasAbhaya’ a loan scheme to provide some relief to Micro, Small and Medium Enterprise(MSME) borrowers.

• This scheme is for those borrowers whose business activities are disrupted on account of the current situation in Dharwad, Karnataka.

Obituary

Legendary footballer Chuni Goswami passed away at 82

• Former India footballer Chuni Goswami passed away at the age of 82 years. Apart from playing football, he had also played first-class cricket for Bengal.

• He has captained the 1962 Asian Games gold-winning Indian football team. He played 50 matches for India as a footballer from 1956 to 1964.

Appointments and Resignations

Former Axis Bank CEO Shikha Sharma named advisor to Google Pay India

Former Axis Bank CEO, Shikha Sharma named advisor to Google Pay India. Google Pay is one of the leading apps on Unified Payments Payments Interface (UPI), battling with the likes of Amazon Pay, Paytm, etc.

Ranking

India ranks 53rd in budget transparency, accountability: IBP survey

• International Budget Partnership (IBP) has provided a transparency score of 49 out of 100 to India’s Union budget process. The provided score to India is higher than the global average score of 45.

• New Zealand has topped the chart. It has a score of 87 out of 100.

Karnataka tops in total installed renewable capacity:  CRISIL

• According to a CRISIL Research report, Karnataka retained its 1st position in terms of total installed renewable capacity in FY20 followed by Tamil Nadu(2nd) & Gujarat(3rd).

• The top 3 states in overall solar energy capacity addition are Rajasthan, Tamil Nadu and Karnataka & in wind energy- Gujarat, Tamil Nadu and Maharashtra.

• Karnataka’s total renewable energy installed capacity stood at 15,232 MegaWatt(MW) as on March 31, 2020, against 13,845 MW as on March 31, 2019. It has the highest installed capacity for solar at 7,278 MW, up from 6,096 MW a year ago. Its wind energy capacity is at 4,791 MW.

Days

Ayushman Bharat Diwas is celebrated on 30 April.

• The day aims to promote affordable medical facilities in remote areas of the country based on the Socio-Economic Caste Census database.

• It will also promote health and wellness and provide insurance benefits to the poor.

• Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PMJAY), also known as the National Health Protection Mission (AB-NHPM), was launched by PM Narendra Modi on 14 April 2018, at Bijapur, Chhattisgarh.

International Workers’ Day

• The International Workers’ Day is held annually on May 1 worldwide to honour the contributions of the labourers or working class people.

• This day is also known as Workers’ Day, Labour Day as well as May Day in some of the countries.

• India celebrated the first Labour day in the year 1923 and the day is referred nationally as Antarrashtriya Shramik Diwas or Kamgar Din.

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Important Current Affairs 27th April 2020

International

World Bank ties-up with AIMA to organize virtual workshop on “Contract Management during Emergency situations”

World Bank (WB) has joined hands with AIMA (All India Management Association), one of the most renowned business schools in India, to organize a virtual workshop called “The Contract Management during Emergency situations” with the aim to create awareness on the implementation of the bank-funded projects.

Banking and Economy

HDFC acquires 6.43% stake in Reliance Capital

• HDFC has acquired 6.43% stake in debt-trapped Reliance Capital by invoking pledged shares.

• Apart from this, Housing Development Finance Corporation Ltd (HDFC) has acquired 8.21% stake in Reliance Infrastructure Ltd, and 6.97% stake in Reliance Power Ltd.

Transcorp becomes the 1st non-bank company to receive RBI nod to enter into co-branding arrangements

• The Leading forex and payment solutions provider Transcorp International Ltd(TIL) becomes the 1st non-bank company to receive Reserve Bank of India(RBI) nod to enter into co-branding arrangements for prepaid Instruments.

• It has also launched its multi-wallet RuPay-powered prepaid cards which allow corporate houses to pay wages, incentives, reimbursements & recurring payments to their employees or beneficiaries.

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Important Current Affairs 26th April 2020

National

UP becomes 1st state with in-house facility of virtual courts

• Uttar Pradesh has become the 1st state with a software-based in-house facility of virtual courts, where requisite infrastructure in Allahabad High Court and all its courts for hearing cases through video conferencing.

• Based on an Apex Court directive to develop video conferencing system for hearing cases while maintaining the social distance, Allahabad High Court has launched a new software, through which multiple court proceedings at High Court and district courts across the state can be conducted virtually within the court premises without the need of internet service.

International

NASA Develops high-pressure ventilator 

• The National Aeronautics and Space Administration (NASA) has developed an easy-to-build high-pressure ventilator named VITAL.

• VITAL stands for Ventilator Intervention Technology Accessible Locally.

• VITAL will help to treat patients with milder symptoms, so that the limited number of traditional ventilators available in the country can be used for treatment of patients with more severe symptoms.

Banking and Economy

Singapore’s Caladium increases its stake in Bandhan Bank to 4.49%

• Caladium Investment PTE Ltd, an affiliate of GIC, Singapore, has increased its stake in Kolkata-based private sector lender Bandhan Bank by 1.1% to 4.49% as on March 31, 2020.

• Caladium Investments held 7.22 crore shares in Bandhan Bank at the end of the fourth quarter of FY20.

• It had a stake of 3.39 percent in the bank at the end of the third quarter as on December 31, 2019.

Obituary

Former Australian all-rounder Graeme Watson passes away

• Former Australian cricketer Graeme Watson passed away. He was a middle-order batsman and a medium-pace bowler. He featured in five Tests from 1966-67 to 1972 and two ODIs in 1972.

• The all-rounder earned a national call up during the 1966-67 tour of South Africa.

Appointments and Resignations

Sanjay Kothari Sworn in as Central Vigilance Commissioner

• Sanjay Kothari has been appointed as the new Central Vigilance Commissioner (CVC), the anti-corruption watchdog of India, on 25 April 2020.

• Mr Kothari, a 1978 batch (retired) IAS officer of Haryana cadre, was the Secretary to the President of India, before being nominated to the new role.

• The post of the chief of the Central Vigilance Commission (CVC) was lying vacant since June 2019 after completion of K V Chowdary’s tenure.

Days

World Intellectual Property Day

• The World Intellectual Property Day is observed annually on 26 April to raise awareness of how patents, copyright, trademarks and designs impact on daily life and to celebrate creativity, and the contribution made by creators and innovators to the development of societies across the globe

• The event was established by the World Intellectual Property Organization (WIPO) in 2000.

• The World Intellectual Property Day 2020 is ‘Innovate for a Green Future.’

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Important Current Affairs 25th April 2020

National

E-Gram Swaraj Portal/App & Swamitva Scheme Launched

• Prime Minister Narendra Modi on April 24, 2020 to mark the National Panchayati Raj Day 2020 launched the E-Gram Swaraj Portal/App and Swamitva Scheme for the development of rural areas of the country.

• The E-Gram Swaraj Portal will contain the details of all development works carries out in villaged panchayats and the Swamitva Scheme will contain all the land records of villages. It will use drones in surveying and mapping of properties in villages and will help in reducing disputes over property.

CISF launches app ‘e-karyalay’ for movement of files

• Central Industrial Security Force (CISF) has launched an e-office application named ‘e-karyalay’. This application helps to enables the movement of files and documents of CISF without physical touch.

MyBookMyFriend campaign launched on World Book Day

• The Union Minister of Human Resource Development, Ramesh Pokhriyal Nishank has launched a campaign on Twitter called #MyBookMyFriend, on the occasion of the World Book Day on 23 April.

• He has also urged everyone to read at least one book on the World Book Day and share the same on social media using the ‘#MyBookMyFriend’.

International

China donates USD 30 million more for WHO

• China on April 23, 2020 announced to donate USD 30 million more to the global health agency World Health Organization (WHO).

• Earlier, China had donated USD 20 million to the WHO, which seeks funding of over USD 1 billion.

Banking and Economy

RBI permits banks to issue Electronic Cards for Overdraft Accounts

• The Reserve Bank of India has allowed banks to issue electronic cards to natural persons having Overdraft Accounts. Such accounts must be of the nature of personal loan without any specific end-use restrictions.

• Earlier banks were allowed to issue debit cards to customers having Saving Bank/Current Accounts but not to cash credit/loan, account holders.

Sports

Iran’s Alireza Firouzja beats Magnus Carlsen in Banter Blitz Cup final

• 16-year-old Iranian refugee, Alireza Firouzja beats World Chess Champion Magnus Carlsen in the final of the Banter Blitz Cup 2020 and to claim the $14,000 prize.

• Firouzja, an Iranian now living in Paris, is is the second-youngest player to reach a rating of 2700 from Fédération Internationale des Échecs (FIDE), the body that governs international chess competition. He is ranked 21st in the world.

Days

Manipur commemorates “Khongjom Day”

• Manipur commemorated the “Khongjom Day” on April 23, 2020. The day is observed to pay tribute to the state’s warriors who fought in the 1891 Anglo-Manipur war.

• The Anglo-Manipur war was fought between the Kingdom of Manipur and the British Government.

World Malaria Day

• World Malaria Day (WMD) is commemorated every year on 25 April to recognize global efforts to control malaria. It is a grassroots campaign with an objective to keep malaria high on political agenda, mobilize additional resources ane empower communities to take ownership of malaria prevention and care.

• Theme 2020: Zero Malaria Starts with Me.

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Important Current Affairs 20th April 2020

National

“National List of Intangible Cultural Heritage of India” launched

• The “National List of Intangible Cultural Heritage (ICH) of India” has been launched by the Union Minister for Culture (I/C) Prahlad Singh Patel.

• The National List of Intangible Cultural Heritage of India has been classified in the following 5 broad domains:

a. Oral traditions and expressions, including language as a vehicle of the intangible cultural heritage

b. Performing arts

c. Social practices, rituals and festive events

d. Knowledge and practices concerning nature and the universe

e. Traditional craftsmanship

Uttar Pradesh Becomes First Indian State to Geotag Community Kitchens & Shelters

• Uttar Pradesh has been reported to become the first state in the country to geotag all its community kitchens and community shelters across 75 districts of the state, so as to provide adequate information to the general public regarding the location of shelter homes and community kitchens amid lockdown.

• There are 7,368 community kitchens and community shelters across 75 districts in the state which produce 12 lakh food packets a day.

• The state government has tied up with Google to ‘Geo-map’ the locations of all these establishments on the Google Maps app for ease of beneficiaries.

Banking and Economy

HDFC Bank launches Safety Grid campaign 

• The bank has created physical markers of HDFC Bank logo on the ground using the outer grid logo. This campaign helps people waiting in the queue at a shop or an establishment.

• The Safety Grid will be painted in front of the space leading to various retail outlets such as pharmacies, grocery stores, and ATMs. The safety grid distance of 1 metre is prescribed by the World Health Organization.

Obituary

Oscar-winning Animator and Film director Gene Deitch passes away at 95

• Oscar-winning animator, film director and producer, Gene Deitch passed away. His movie “Munro” won the Oscar award in the animated short film category in 1960.

•  He directed some episodes of “Tom and Jerry” and also some episodes of “Popeye the Sailor” series. He received the Winsor McCay Award for his lifelong contribution to animation in 2004.

Days

UN Chinese Language Day

• UN Chinese Language Day is observed on April 20 annually.The UN Department of Public Information established the day in 2010 to celebrate multilingualism and cultural diversity as well as promote equal use of all six of its official working languages throughout the organization.

• The day has been chosen to pay tribute to Cangjie, who is a mythical figure who is presumed to have invented Chinese characters about 5,000 years ago.

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Important Current Affairs 19th April 2020

National

Government revises FDI Policy, bar automatic investments from neighbouring countries

• The Central Government revised the FDI policy making it difficult for overseas investment from neighbouring countries into Indian firms. 

• The revised rules of FDI policy are applicable only to the countries that are in India’s neighbourhood and share a common land border with India. This includes China and other nations such as Nepal, Bhutan and Myanmar.

• According to reports, the changes in India’s FDI policy are in line with similar measures undertaken by many European countries which aims to restrict foreign investments from China during the on-going crisis and market disruption due to it.

Rs.10 lakhs Compensation for all Postal employees

• The Postal employees including Gramin Dak Sevaks are performing various departmental duties as well as serving the social cause in the crisis times.

• Therefore, it has been decided to grant payment of compensation of Rs. 10 lakhs to all the Postal employees including Gramin Dak Sevaks (GDS) succumbing to the disease while brought on duty. .

Government Amends Credit Guarantee Fund for Micro Units (CGFMU) scheme to Increase Default Coverage to 75%

• The Ministry of Finance has announced amendment in Credit Guarantee Fund for Micro Units (CGFMU) scheme, which covers micro loans up to Rs 10 lakh extended under the Pradhan Mantri Mudra Yojana.

• Apart from this, the ministry has also reduced the burden of defaults that the lender had to bear under the scheme from the first 5% of the amount in default to 3%.

Books and Authors

‘Shuttling to the Top: The Story of P.V. Sindhu’ Authored by V. Krishnaswamy Released

• The book titled “Shuttling to the Top: The Story of P.V. Sindhu”, written by sports journalist V. Krishnaswamy, was released on 13 April 2020.

• The book narrates the journey of badminton player PV Sindhu, from her early life to becoming a world champion, and what lies ahead.

• The book has been published by HarperCollins Publishers India.

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Important Current Affairs 18th April 2020

National

India removes ban on export of Paracetamol formulations

• The Central Government recently removed the ban on the export of formulations that are made from Paracetamol. The information was shared in a notification released by the Directorate General of Foreign Trade (DGFT).

• The formulations including the fixed-dose combinations will now be made available with immediate effect for export purpose.

Banking and Economy

RBI cuts reverse repo rate by 25 bps to 3.75%, announces Rs 50,000 crore TLTRO 2.0

• On 17 April 2020, the Reserve Bank of India (RBI) Governor Shaktikanta Das took several important decisions to ensure adequate liquidity in the system to ease the financial stress.

• RBI has decided to undertake targeted long-term repo operations (TLTRO-2.0) for total amount of Rs 50,000 crore to begin with in tranches of appropriate sizes. RBI might increase this amount in future as per requirement.

• The funds availed by banks under TLTRO-2.0 should be invested in grade bonds, Commercial Papers, Non-Convertible Debentures of NBFCs with at least 50% going to mid-sized NBFCs and MFIs.

• RBI has announced the allocation of Rs 50,000 crore as special refinance facilities to All India financial institutions (AIFIs) such as NABARD, SIDBI, NHB to enable them to meet sectoral credit needs. These advances to the above organizations will be charged as per the RBI policy repo rate of 4.40%.

• Out of total allocation of Rs 50,000 crore, National Bank for Agriculture and Rural Development (NABARD) will receive the amount of Rs 25,000 crore for the refinancing of Regional Rural Banks, cooperative banks and microfinance institutions.

• Out of total allocation of Rs 50,000 crore,Small Industries Development Bank of India (SIDBI) will receive Rs 15,000 crore or on-lending and refinancing to scheduled commercial banks, non-banks and microfinance institutions.

• The National Housing Bank will receive Rs 10,000 crore to support housing finance companies.

• RBI has also decided to reduce the reverse repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 4% to 3.75% with immediate effect while the policy repo rate will remain unchanged at 4.4%, Marginal Standing Facility (MSF) rate and the Bank rate will remain unchanged at 4.65%.

• The RBI has increased the ways and means advances (WMA) limit of states by 60% over and above the level as on March 31, 2020. The increased limit will be available till September 30, 2020.

• In respect of all accounts for which lending institutions decide to grant moratorium or deferment, and which were standard as on March 1, 2020, it has been decided that the 90-day NPA norm shall exclude the moratorium period. It indicates that there would an asset classification standstill for all such accounts from March 1, 2020 to May 31, 2020.

• RBI decides to extend the period for resolution plan by 90-days, citing the challenges faced during the resolution of stressed assets in the current volatile environment.

• RBI has refrained the scheduled commercial banks and cooperative banks from making any further dividend payouts from profits pertaining to the financial year ended March 31, 2020 until the further instructions.

• To ease the liquidity position at the level of individual institutions, the RBI has brought down the Liquidity Coverage Ratio (LCR) requirement for Scheduled Commercial Banks from 100% to 80% with immediate effect.

Science and Technology

NASA discovers habitable zone planet 300 light years away

• NASA’s Kepler Space Telescope has discovered an Earth-sized planet in a habitable zone around a star that could support liquid water. The exoplanet, named as Kepler-1649c, was discovered by a team of of transatlantic scientists.

• The findings are based on the data provided by Kepler as well as Transiting Exoplanet Survey Satellite (TESS).

Obituary

Freedom Fighter RV Bhuskute passes away at 94

• Freedom fighter R V Bhuskute, who had participated in the Quit India Movement, has passed away of prolonged illness. He was 94

• Hailing from Maharashtra’s Raigadh district, Bhuskute has also written several books on land laws.

Sports

Mascot for Hangzhou 2022 Asian Para Games unveiled

• “Feifei” to be the mascot for Hangzhou 2022 Asian Para Games, China. The 4th Asian Para Games are going to be held from October 9-15, 2022, featuring 22 sports with Taekwondo and Para-Canoe to form their Games debuts. The mascot helps to bring the Games to life for everybody, from the athletes to the spectators.

• Theme 2020- Shared Cultures, Shared Heritage, Shared Responsibility.

Days

International Day For Monuments and Sites

• The International Day for Monuments and Sites (World Heritage Day) is observed on 18 April each year to promote awareness about the diversity of cultural heritage of humanity, their vulnerability and the efforts required for their protection and conservation.

• Theme 2020- Shared Cultures, Shared Heritage, Shared Responsibility.

• The International Day for Monuments and Sites was proposed by the International Council on Monuments and Sites (ICOMOS) on 18 April 1982 and approved by the General Assembly of UNESCO in 1983.

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