Current Affairs

25 March, 2020

International

Protecting peatlands can help attain climate goals: FAO-UN report

In accordance with the Food and Agriculture Organization (FAO) of the United Nations (UN) report, Peatlands are facing degradation and need to be urgently monitored. The report authored by 35 experts comprised information as well as recommendations to countries on restoring and managing peatland.

Sri Lanka contributes $5 mn to SAARC corona emergency fund

The Government of Sri Lanka has pledged to contribute $5 million to the SAARC (South Asian Association for Regional Cooperation) Corona Emergency Fund proposed by Prime Minister (PM) Narendra Modi on March 15, 2020 with an initial grant of $10 million from India to deal with the novel coronavirus (COVID-19) pandemic.
About SAARC:
Establishment– 8 December 1985
Headquarters– Kathmandu, Nepal
Secretary–General– H. E. Mr Esala Ruwan Weerakoon
Members (8)– Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, and Sri Lanka.

National

IIT-Madras to organize India’s 1st Global Hyperloop Pod Competition

Indian Institute of Technology (IIT) Madras will organize India’s 1st Global Hyperloop Pod Competition named as ‘Indian Hyperloop Pod Competition’, to increase the awareness & enthusiasm about Hyperloop in India.

ICMR recommended hydroxychloroquine for caregivers of COVID-19 patients

The National Task Force for the novel coronavirus constituted by Indian Council of Medical Research (ICMR) has recommended the use of hydroxychloroquine for healthcare workers or persons staying with and caring for positive COVID-19 patients. This protocol has been approved by the Drug Controller General of India (DGCI), Dr V. G. Somani.

Economy

S&P slashes India’s GDP growth estimate for FY21 to 5.2 % from 6.5%

Standard & Poor’s (S&P) Global Ratings, the world’s leading provider of independent credit ratings, has slashed India’s economic growth forecast to 5.2 % from 6.5 % estimated earlier for fiscal year-FY 21 (April 2020 to March 2021) due to the spread of coronavirus (COVID-19), which has affected the economy worldwide.
About S&P Global Ratings:
Headquarters– New York, United States
President & Chief Executive Officer(CEO)– Douglas L. Peterson

NABARD provides Rs 42,213 crore for building rural infrastructure

National Bank for Agriculture and Rural Development (NABARD) provides financial support of Rs 42,213crore in the Financial Year(FY) 2019-20 for building rural infrastructure.
About NABARD:
At the insistence of the Government of India (GOI), Reserve Bank of India constituted a committee to review the arrangements for institutional credit for agriculture and rural development (CRAFICARD) on 30 March 1979, under the Chairmanship of B.Sivaraman, to review the arrangements for institutional credit for agriculture & rural development. On the committee’s recommendation, NABARD came into existence on 12 July 1982 with the approval of the Parliament by Act 61 of 1981 with an objective to promote sustainable, equitable agriculture and rural development.
Headquarters– Mumbai
Chairman– Harsh Kumar Bhanwala

RBI opens Rs 59000cr emergency credit line for Yes Bank; a move after 16 years

After the Reserve Bank of India’s (RBI) reconstruction plan for Yes Bank, the latter has resumed its standard operations from last week. Now, to keep the liquidity of the bank for paying back to its depositors stable, RBI has opened an emergency line of credit of Rs 59,000 crore.

RBI: On lending by banks to NBFCs is classified as a priority sector in FY21

To boost credit disbursement in the targeted segment like agriculture, Micro, Small & Medium Enterprises (MSME) and housing sector, RBI has extended the priority sector classification for bank loans to Non-Banking Financial Company (NBFC) for on-lending for the FY 2020-21.

Sports

Canada becomes 1st country to back out of Tokyo Olympics 2020

The Canadian Olympic and Paralympic Committee jointly announced that it would not send any of its athletes to participate in the Tokyo Olympics 2020 which is scheduled on July 24, 2020 in Japan, due to the spread of Coronavirus disease rapidly across the world. Thus, Canada becomes the first country to back out of Tokyo Olympics 2020.

Miscellaneous

US successfully tested its first nuclear-capable hypersonic missile

In a major development, the United States (US) Navy and Armyhas successfully tested its common hypersonic glide body (C-HGB), a first unarmed prototype of a hypersonic missile capable of carrying nuclear warheads. The test was carried out at the Pacific Missile Range Facility in Kauai, Hawaii and was monitored by Missile Defense Agency (MDA) of US Department of Defence i.e. The Pentagon.

IndusInd Bank MD & CEO Romesh Sobti retires

Private sector lender IndusInd Bank Managing Director (MD) & Chief Executive Officer (CEO), Ramesh Sobti, 70 years old, retired. The bank’s consumer head, Sumant Kathpalia will serve as the MD and CEO of IndusInd bank for the period of 3 years.

Shivraj Singh Chouhan becomes the CM of MP

Shivraj Singh Chouhan(61) took oath as Chief Minister(CM) of Madhya Pradesh(MP)for the 4th time. He will succeed Kamal Nath who was in power for 15 months.
About MP:
Governor– Lalji Tandon
National Park (NP)– Kanha NP, Mandla; Bandhavgarh NP, Umaria; Madhav NP, Shivpuri; Sanjay NP, Sidhi; Van Vihar NP, Bhopal; Panna NP, Panna, Chhatarpur; Satpura NP, Pachmarhi; Pench NP, Seoni, Chhindwara; Mandla Plant Fossils NP, Mandla.

Zoya Akhter honoured with IIFTC Tourism Impact Award 2020 held in Mumbai, Maharashtra

Zoya Akhter honoured with IIFTC Tourism Impact Award 2020 during the 8th India International Film Tourism Conclave (IIFTC) held in Mumbai, Maharashtra.The award was presented by NaheedNenshi– Mayor of Calgary, Alberta (Canada) in recognition of her outstanding contribution to world tourism through her cinema.She has promoted tourism through her films like 2011 ‘Zindagi Na Milegi Dobara’ which was shot in Spain, and 2015 comedy-drama ‘DilDhadakne Do’ shot in Turkey.

Author Ruchika Tomar wins PEN/Hemingway Award 2020

The Indian-origin American author Ruchika Tomar is named as the winner of the annual PEN/Hemingway Award 2020 for her 1st novel (debut) ”A Prayer for Travelers”. She hails from California & is currently working as a lecturer at Stanford University.

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Daily Current Affairs | 11th July 2020

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