Current Affairs

2 September, 2020

International

India-Japan-Australia to Launch Resilient Supply Chain Initiative in the Indo-Pacific region

India, Japan and Australia agreed to launch a trilateral Supply Chain Resilience Initiative (SCRI) in the Indo-Pacific region. The initiative will help in building a resilient supply chain with focus on free, transparent trade & investment environment in the region.
The initiative was decided at a virtual meeting comprising Australia’s Minister for Trade, Tourism and Investment, Senator Simon Birmingham, India’s Minister of Commerce and Industry Piyush Goyal, and Japan’s Minister of Economy, Trade and Industry, Kajiyama Hiroshi.

Japan extends Emergency Loan of JPY 50 Billion for India to Fight Covid-19 Pandemic

Japan extended an Emergency Support Loan of up to 50 Billion Japanese Yen (Approximately Rs 3, 500 Crore) to help India’s response to the COVID-19 crisis. The financial support will support India’s implementation of health, medical policies and development of hospitals equipped with ICUs.
ii.This is the largest amount of financial assistance announced by any country to support India’s response to the Covid-19 crisis.

National

Defence Minister Rajnath Singh Launched Life Insurance Scheme for More than 10000 Cantonment Employees

efence Minister Rajnath Singh launched “Chhavni COVID: Yodha Sanrakshan Yojana” a group life insurance scheme through the Life Insurance Corporation (LIC), for more than 10000 employees working in the 62 military cantonment areas across India.
ii.The scheme will benefit the employees of all the 62 cantonment boards and will provide a cover of Rs.5 lakhs each in the event of any fatal misfortune.
iii.The insurance scheme was launched during the two-day webinar organised by the Ministry of Defence and Directorate General of Defence Estates(DGDE) to improve the implementation of Central Sponsored Schemes(CSS) in the 62 cantonments around India at Delhi.

Coal Ministry organised Webinar on Coal Gasification and Liquefaction

webinar on Coal Gasification and Liquefaction was organized by Ministry of Coal and Mines which was addressed by Union Minister of Coal and Mines Pralhad Joshi along with Anil Kumar Jain, Secretary, Coal and Dr Vijay Kumar (VK) Saraswat, Member NITI (National Institution for Transforming India) Aayog.
ii.The objective behind this webinar was to discuss the road map for achieving the 100 million tonnes (MT) coal gasification target by 2030 with investments worth over Rs4 lakh crores.

MoD inked Contracts Worth Rs 2580 Cr with Indian Companies for Supply of Pinaka Regiments to Indian Army

the Acquisition Wing of Ministry of Defence (MoD) has signed contracts with Bharat Earth Movers Ltd. (BEML), Tata Power Company Ltd. (TPCL) and Larsen & Toubro (L&T) for supply of Six Pinaka Regiments to the Regiment of Artillery of the Indian Army at an approximate cost of Rs. 2580 Crores.

Economy

India’s Real GDP likely to Contract by 10.9% in FY21, All 4 quarters to Witness Negative Real Growth: SBI Ecowrap Report

The State Bank of India’s (SBI) Ecowrap report estimated that the real Gross domestic Product(GDP) for FY21 is expected to shrink by around 10.9%(-10.9%), a decline of full year growth, against its earlier estimate of 6.8%.
ii.The report comes after India’s economy contracted by a record 23.9% in 1st (April-June) quarter of FY21.

“Fraud & Risk Management in Digital Payments” Report Released: PayPal & DSCI

The Report, “Fraud & Risk Management in Digital Payments” has been jointly developed by The National Association of Software and Service Companies (NASSCOM)’s Data Security Council of India (DSCI) and PayPal Payments Pvt. Ltd. (PayPal).
ii.It is to be noted that Online banking and digital transactions has massively grown in India due to Lockdown(COVID-19 pandemic), however, the threat landscape has also grown dynamically.
iii.The report attempts to address the emerging concerns and underlying causes.

European Investment Bank to Invest € 650 Million in Kanpur’s 1st City Metro Line

The European Investment Bank (EIB) will invest 650 million euro(€) in the construction of Kanpur’s(Uttar Pradesh) 1st city metro line.
ii.The 32.4 km urban rail line, with 18 elevated and 12 underground stations is EIB’s 2nd biggest operation outside the European Union(EU) till date.
iii.It is the 2nd metro rail project supported by the EIB in Uttar Pradesh(UP).
iv.Uttar Pradesh Metro Rail Corporation Ltd (UPMRC) is the promoter-Financial intermediary for this project.

Sports

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Miscellaneous

Former President & Bharat Ratna Awardee Pranab Mukherjee passes away

Former President Pranab Kumar Mukherjee passed away after developing a lung infection at the Army’s Research and Referral Hospital, New Delhi, he was admitted for a Brain Surgery. He had also tested Positive for Coronavirus.
i.He served as the 13th President of India From 2012-2017. He was India’s only non-Prime Minister who was the leader of the Lok Sabha

CSIR-CMERI Developed & Installed the World’s Largest Solar Tree in Durgapur

Council of Scientific and Industrial Research – Central Mechanical Engineering Research Institute (CSIR – CMERI) developed the world largest Solar Tree with customisable features for application in different locations and installed it in the residential colony of CMERI at Durgapur, West Bengal.
ii.The annual capacity of the tree to generate clean and green power is around 12000 to 14000 units.

Hemant Khatri assumed charge as CMD of Hindustan Shipyard Limited; Succeeds Rear Admiral L V Sarat Babu

Retired Commodore Hemant Khatri succeeds Rear Admiral L V Sarat Babu (Retd) and assumed charge as the Chairman and Managing director(CMD) of Hindustan Shipyard limited(HSL), Visakhapatnam, Andhra Pradesh, is a Miniratna public sector undertaking (PSU) of the Ministry of Defence. Previously he was serving as the Director of Strategic Projects HSL.

Pramod Chandra Mody gets 6 Months Extension as Chairman of CBDT

The Appointments Committee of the Cabinet (ACC), Government of India (GoI), has approved the extension of the re-appointment of Pramod Chandra Mody as Chairman, Central Board of Direct Taxes(CBDT) for 6 months with effect from September 1, 2020 to February 28, 2021 or until further orders, whichever is earlier. His term was to end on August 31, 2020.

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