Current Affairs

31 August, 2020

International

BRICS Sports Ministers Approve MoU for Cooperation in the field of Physical Culture and Sport

the First Meeting of the BRICS (Brazil, Russia, India, China & South Africa) Sports Ministers under the Russian BRICS Chairmanship took place through video conference. The BRICS Sports Ministers signed a Memorandum of Understanding (MoU) to strengthen and develop the cooperation in the field of physical culture and sport within the BRICS members.

6th International Military-Technical Forum “Army-2020 held in Russia; Indian Pavilion Inaugurated

The 6th International Military-Technical Forum “Army-2020” was held between August 23-29, 2020 at the Patriot Park near Moscow, Russia which was organized by Russian Defence Ministry and operated by International Congresses and Exhibitions Ltd. (ICE Ltd).
ii.During the forum, Indian Pavilion was inaugurated by Secretary (Defence Production) Raj Kumar and Indian Ambassador to Russia D.Bala Venkatesh Varma.
iii. The forum saw the discussions between global military officials, researchers and defence industry experts about the application of 3D technologies in designing, manufacturing and operating weapons and military equipment.

National

PM Modi Inaugurates College, Administration Buildings of RLB Central Agricultural University in Jhansi

Prime Minister Narendra Modi inaugurated the College, Administration Buildings of Rani Lakshmi Bai Central Agricultural University in Jhansi, Uttar Pradesh through video conference.
The Central Agricultural University is expected to improve the education infrastructure and contribute to cutting edge research in agriculture and further farmer welfare.

Union Minister Nitin Gadkari lays Foundation Stone for Road Projects worth Rs. 777 Crores

Union Minister for Road Transport & Highways Nitin Jairam Gadkari laid the foundation stone for three important bridges, two road improvement projects and four other major bridge projects across the rivers Wainganga, Bandiya, Perikota and Perimili in the Gadchiroli district of Maharashtra with an outlay of Rs. 777 Crores.
ii.The projects will be crucial for improving mobility and providing socio-economic development for the people of Gadchiroli district. The region is affected by Left Wing Extremism (LWE).

17TH ASEAN-India Economic Ministers’ Consultations held Virtually ; Co-Chaired by Union Minister

17th Association of Southeast Asian Nations (ASEAN)-India Economic Ministers Consultations was held virtually which was co-chaired by Minister of Commerce and Industry & Railways Piyush Vedprakash Goyal and Minister of Industry and Trade of Vietnam Tran Tuan Anh.
ii.The focus of the meet was to discuss the reviewing of ASEAN India Trade in Goods Agreement (AITIGA), which has been recommended by ASEAN India Business Council (AIBC) Report, submitted during the meet.
iii.The meet was attended by Trade Ministers of all the 10 ASEAN countries—Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.

Economy

Vedanta Tied Up with SBI for Long Term Syndicated Loan of Rs.10000 Crore

Vedanta announced its tie up for a long term syndicated loan facility for Rs.10000 crore with State bank of India(SBI) as facility agent and SBICAP Trustee Company limited(SBICTCL), a wholly owned subsidiary of SBI Capital Market Limited(SBICAP) as the security trustee with door to door tenor of 7 years.
ii.This loan increases the average debt maturity profile of Vedanta limited.and also improves the liquidity ratios as the near term maturities are replaced by a long term loan.

Sports

India, Russia declared joint winners of 2020 Online FIDE Chess Olympiad

India and Russia were declared joint winners of the 2020 Online FIDE (International Chess Federation) Chess Olympiad after the final was marred by internet disconnection. This was the first time that FIDE was holding the Olympiad in an online format due to the ongoing Pandemic. i.Initially, Russia were declared winners after two Indian players – Nihil Sarin and Divya Deshmukh lost out on time in the final due to a disconnection in the server.

Formula One Champion Mercedes’ Lewis Hamilton Won the Belgian Grand Prix 2020; Won this title for 4th time, Claimed his 89th GP

Formula One Champion Mercedes Lewis Hamilton(British) won the Belgian Grand Prix(GP) 2020 at Circuit de Spa-Francorchamps, Belgium. This is his 4th Belgian GP win, the record equals with Jim Clark and Kimi Raikkonen in 3rd position in all time most wins of Belgian GP, behind Michael Schumacher(6 times)and Ayrton Senna(5times). With this victory, he claimed his 89th career title.

Miscellaneous

New E-market Platform “Agriota” Launched to Bridge Gap between Indian Farmers & UAE food industry

the United Arab Emirates (UAE) has launched Agriota, a new technology-driven agri-commodity trading and sourcing e-market platform during a launch ceremony, which was also attended by Pavan Kapoor, Ambassador of India to the UAE. The market platform aims to bridge the gap between millions of rural farmers in India and the Gulf nation’s food industry.
ii.This launch followed the India-UAE Virtual Buyer Seller Meet titled “Forge a New Path in COVID-19” organised on August 20.
iii.It has been launched by Dubai’s free-zone Dubai Multi Commodities Centre (DMCC) and the government of Dubai’s authority on commodities trade and enterprise.
iv.This initiative will enable Indian farmers to connect directly, bypassing intermediaries, with the entire food industry in the UAE, including food processing companies, traders and wholesalers.

Reliance Industries acquired Future Group for Rs.24,713 crore

The Reliance Retail Ventures Limited(RRVL), subsidiary of the Reliance Industries Limited(RIL) acquired the retail and wholesale, logistics and warehousing business of the Future Group Business as going concerns on a slump sale basis for lump sum aggregate consideration of Rs 24,713 crore

Rajiv Gandhi International Airport wins CII-GBC ‘National Energy Leader’ award

The GMR led Rajiv Gandhi International Airport (Hyderabad International Airport) won the ‘National Energy Leader’ and ‘Excellent Energy Efficient Unit’ awards at the 21st National Awards for ‘Excellence in Energy Management’. It was organized by Confederation of Indian Industry (CII) and Godrej Green Business Centre (GBC).
The award was given to RINL also during the 19th edition of ‘Energy Efficiency Summit’, Virtual Conference and Exposition on Energy Efficiency held from August 6-28, 2020.

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