Daily Current Affairs 10 June 2020 for Banking/Insurance/SSC and other related exams.
Highest ever allocation of Rs 1,01,500 cr made under MGNREGS during FY 2020-21
A provision of Rs 1,01,500 crore has been made under Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) in the current financial year 2020-2021. It is the highest ever provision of funds under the programme.
- For the financial year 2020-21, a sum of Rs 31,493 crore has already been released which is more than 50 per cent of the budget estimate of the current Financial Year.
NCERT & Rotary India signs MoU to telecast e-content
To make e-learning more constructive, NCERT and Rotary India digitally signed MoU for e-learning content telecast for class 1-12 over all NCERT TV channels in the presence of Union HRD Minister Shri Ramesh Pokhariyal ‘Nishank’ in New Delhi.
- This partnership aims to make e-learning more constructive and will ensure that e-learning reaches children across the nation with NCERT approved content.
BANKING & FINANCE
World Bank lends Rs. 1,950 crore loans to W Bengal Govt for tackling COVID situation
The World Bank has given Rs. 1,950 crore loans to the West Bengal Government for tackling COVID situation and developmental work in the State.
- Rs. 1,100 crore will be spent for creating Industrial infrastructures and remaining Rs. 850 crore have been allocated for spending on various Social-Welfare schemes
PhonePe launches domestic trip insurance with ICICI Lombard
With the lockdown ending and domestic travel gradually starting across the country, PhonePe, a digital payments platform, announced the launch of a comprehensive, industry-first domestic multi-trip insurance cover in a strategic partnership with ICICI Lombard, the non-life insurance company.
- This service is exclusively available for PhonePe users. The platform provides affordable annual insurance cover for unlimited trips.
- The platform said it also caters to the needs of customers who prefer buying domestic travel insurance every time they book a ticket or a cab. With 365-day protection at Rs 499, it covers all modes of transport
BUSINESS & ECONOMY
Indian economy will shrink 5% in FY21: S&P Ratings
S&P Global Ratings said Indian economy will shrink 5 per cent in the current fiscal, saying the fiscal stimulus worth 1.2 per cent of GDP will not be enough to provide significant growth support and growth will rebound to 8.5 per cent in 2021-22. It projected growth to be 6.5 per cent in 2022-23.
- In a report on emerging markets titled ‘Financial Conditions Reflect Optimism, Lockdown Fatigue Emerges’, S&P said the services sectors, which are large employers, have been severely affected, leading to widespread job losses.
Indian Economy May Rebound with 9.5% Growth Next Fiscal After 5% Contraction This Year: Fitch Ratings
After a contraction in the current financial year, India’s economy is forecast to bounce back with a sharp growth rate of 9.5 per cent next year provided it avoids further deterioration in financial sector health said by Fitch Ratings.
- The coronavirus pandemic will lead to shrinking of the already slowing economy in 2020-21 that started in April. Fitch Ratings forecast a 5 per cent contraction in the GDP in the ongoing financial year.
India’s 800m runner Gomathi Marimuthu handed four-year ban by AIU for doping
India’s Gomathi Marimuthu will be stripped off her 2019 Asian Athletics Championships gold medal after she was handed a four-year ban by the Athletics Integrity Unit for testing positive for a banned substance.
- The ‘A’ sample of the 30-year-old runner from Tamil Nadu, who clocked 2 minutes and 2.70 seconds to win the gold medal on April 22 last year, had returned positive for a steroid in the test conducted during the Asian Championships in Doha.
- Now, Gomathi’s ‘B’ sample has also tested positive and she will need to serve out a ban till May 16, 2023. In addition, she will also need to pay a fine of Rs 1 lakh to the AIU.
Renjith Kumar honoured with “NASA Distinguished Public Service Medal”
Indian Aerospace entrepreneur, Renjith Kumar has been honoured with “NASA Distinguished Service Medal” for his administration to NASA through executive leadership, engineering contribution, technical excellence and consumer loyalty.
- He worked in relationship with NASA for over 30 years and contributed to updating the International Space Stations(ISS).
- He is CEO Emeritus of the Virginia based Analytical Mechanics Associates(AMA).
SCIENCE & TECHNOLOGY
IIT-Guwahati students develop mobile app Flyzy for contactless air travel
Students of Indian Institute of Technology Guwahati have developed a mobile application, called ‘Flyzy’, to provide a seamless air travelling experience to passengers during the pandemic.
- The aim of the mobile app Flyzy, developed as per International Air Transport Association (IATA) guidelines, is to provide contactless boarding, keeping in mind the easier baggage drop, manageable parking, better shopping experience and providing necessary updates during the whole journey
- This a hybrid software which will support face-biometric recognition in the future, without changing the complete software system of the airport.
DIAT develops disinfectant ‘Ananya’ to combat COVID-19
Defence Institute of Advanced Technology, a Deemed to be University, Pune has developed a Nano-technology based disinfectant spray to combat COVID-19 by disinfecting all types of surfaces. It has been named “ANANYA”. This can be used by anyone, from a common man to a healthcare worker, for individual as well as large scale use.
- This spray can be used on masks, PPEs, hospital linens, as well as other likely contaminated surfaces such as medical instruments, elevator buttons, door knobs, corridors and rooms etc.
Former TN footballer Balasamy passes away
Former Tamil Nadu footballer A Balasamy, who later turned into a football administrator, passed away at a city hospital due to old-age illness and diabetes. He was 82.
- Balasamy, a dedicated player, had started his career with Don Bosco Oratory (Broadway) in the 1950s in the Madras Football Association league. He later switched over to Binnys.
Former Union Minister Arjun Charan Sethi passes away
Former Union Minister Arjun Charan Sethi passed away at a private hospital. He was 79.
- An eight-time Parliamentarian from Bhadrak, Sethi was Water Resources Minister in Atal Bihari Vajpayee Cabinet from 2000 to 2004. He entered Lok Sabha from Bhadrak on a Congress ticket in 1971 and re-elected in 1980, also on a Congress ticket.
- Sethi later joined Janata Dal and was elected from Bhadrak Lok Sabha segment in 1991. He was elected to Lok Sabha from Bhadrak for five consecutive times from 1998 to 2014 on BJD ticket. He joined the BJP before 2019 Lok Sabha, but did not contest elections.
- The veteran politician was also elected to Odisha Assembly twice on Janata Dal ticket in 1991 and 1995 from Bhandaripokhari.