Current Affairs

29 June, 2020

International

THE Young University Ranking 2020 with 2 Indian Institutes in top 100

The Times Higher Education(THE) released THE Young University Rankings 2020 for the universities which are 50 years old or younger.
Two Indian Institutes secured their ranks in the top 100 with IIT Ropar, the best 12year old institutes of India at 62nd rank and IIT Indore at 64th rank.

At 26th position, Bengaluru Becomes India’s Only City in Top 30 Global Startup Ecosystems Ranking 2020 Released by Startup Genome

According to the report, ‘Global Startup Ecosystem Report (GSER) 2020; the New Normal for the Global Startup Economy and the Impact of COVID-19’ released by Startup Genome, Bangalore has become the only city in the country to be included in the world’s top-30 startup ecosystem ranking & placed 26th position. At the same time, the nation’s capital Delhi has been ranked 36th in the list.
i.Further, Mumbai ranked first in a parallel “100 emerging ecosystem rankings 2020” followed by Jakarta, Zurich.
About Startup Genome:
Founder– J.F. Gauthier
It is a California-headquartered innovation policy advisory and research firm.

National

Government Introduced New Floating Rate Savings Bonds, 2020 (Taxable) Scheme w.e.f July 1, 2020

The Government has notified the new Floating Rate Savings Bonds, 2020 (Taxable) Scheme in place of 7.75% Savings (Taxable) Bonds, 2018, with effect from July 1, 2020.
ii.The Floating Rate Savings Bonds, 2020 (Taxable) Scheme is going to issue a floating rate, taxable savings bond for an initial coupon of 7.15%, payable on January 1, 2021.
iii.These bonds will be issued by Reserve Bank India (RBI) on behalf of the Government of India (GoI) and will be available at State Bank of India (SBI) and other nationalised banks, as well as four private sector banks viz. IDBI Bank Ltd, Axis Bank Ltd, HDFC Bank Ltd and ICICI Bank Ltd.

President Promulgates Banking Regulation (Amendment) Ordinance, 2020 amending Banking Regulation Act, 1949

The President of India, Shri Ram Nath Kovind in exercising the powers conferred under clause (1) of article 123 of the Constitution has promulgated the Banking Regulation (Amendment) Ordinance, 2020 which will amend section 45, and 56 of Banking Regulation Act, 1949 as applicable to Cooperative Banks.
The amendments will not apply to Primary Agricultural Credit Societies (PACS) or co-operative societies whose primary object and principal business is long-term finance for agricultural development, and which do not use the word “bank” or “banker” or “banking” and do not act as drawees of cheques.

MoS of Defence Shri Shripad Naik Inaugurates Two-day Defence Conclave 2020 in Gujarat

Minister of State (MoS) of Defence Shri Shripad Naik inaugurated the two days ‘Defence Conclave 2020’ in Gujarat through video conferencing. The conclave was jointly organised by Confederation of Indian Industry(CII), Gujarat and Society of Indian Defence Manufacturers(SIDM).
i.The Conclave is held in the defence and aerospace manufacturing sector. Focusing in strong defence is a great economic growth and helps in job creation in manufacturing.
ii.It aims to strengthen the ‘Make in India’ initiative, and increase defence manufacturing.

Economy

SIDBI Set Up ‘Swavalamban Crisis Responsive Fund’ to Facilitate Free Onboarding of MSMEs on TReDS platform

Small Industries Development Bank of India(SIDBI) has informed that it has set up ‘Swavalamban Crisis Responsive Fund’(SCRF), an open-ended fund.
ii.To facilitate free onboarding of Micro, Small and Medium Enterprises(MSMEs) on Trade Receivables Discounting System(TReDS) platform.
iii.The SCRF is under the Swavalamban Resource Facility, where SIDBI partners with the Department for International Development (DFID), United Kingdom.

PhonePe Partnered with ICICI Bank on UPI multi-bank model

Flipkart-owned PhonePe announced that it has partnered with ICICI Bank on the Unified Payments Interface(UPI) multi-bank model.
ii.To provide its users the option to create and use multiple UPI IDs with ICICI Bank’s “@ibl” handle and YES Bank’s ‘@ybl’ handle on the PhonePe app.
iii.Through this partnership ICICI Bank has become the second official UPI partner of PhonePe after Yes Bank.

Sports

New Zealand Cricketer Rachel Priest Announces Retirement from International Cricket

New Zealand wicketkeeper-batswoman Rachel Priest(35 years old) announced her retirement from international cricket after she was not included in the White Ferns central contracts list announced in June 2020.

Miscellaneous

Astronomers of RedDots Team Discovered Super Earths Gliese 887b and Gliese 887c Near Red Dwarf

In the research of The RedDots team of Astronomers led by the University of Göttingen, Germany detected two super Earths Gliese 887b and Gliese 887c orbiting around the Gliese 887, the brightest red dwarf star in the sky.
ii.The RedDots team monitored the red dwarf at the European Southern Observatory, Chile using the HARPS Spectrograph.
iii.The results of the research are published in the journal Science.

Indian Navy Inducts Advanced Torpedo Decoy System ‘Maareech’ Indigenously Developed by DRDO labs-NPOL & NSTL

Indian Navy has inducted an Advanced Torpedo Decoy System (ATDS) namely ‘Maareech’ that is capable of being fired from all frontline warships.
ii.The design and development of this ATDS have been done by Defence Research and Development Organisation (DRDO) labs viz. Naval Physical and Oceanographic Laboratory (NPOL), Kochi in Kerala and the Naval Science and Technological Laboratory (NSTL), Visakhapatnam, Andhra Pradesh (AP).
iii.On the other hand, the Bharat Electronics Limited (BEL), a Defence Public Sector Undertaking (PSU), would undertake the production of this decoy system.

Union Minister Shri Narendra Singh Tomar launches Garib Kalyan Rojgar Abhiyan web portal

Shri Narendra Singh Tomar, Union Minister of Rural Development, Panchayati Raj and Agriculture & Farmers welfare, launched a web portal of the Garib Kalyan Rojgar Abhiyan(GKRA) through video conferencing from New Delhi.
i.The GKRA was launched with coordination of 12 ministries for 25 categories of works to be completed in 125 days and alloted with Rs 50,000 crore .

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