Daily Current Affairs 12th July, 2020

Daily Current Affairs 12 July 2020 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

PM Modi inaugurates Asia’s Mega solar project in MP’s Rewa
Prime Minister Narendra Modi inaugurated the 750 MW Solar Project set up at Rewa, Madhya Pradesh through video-conferencing. The 750 MW plant is Asia’s largest Mega Solar Power Project which comprises of three solar generating units of 250 MW each located on a 500-hectare plot of land situated inside a Solar Park.

  • The Solar Park has been developed over a total area of 1500 hectares, by the Rewa Ultra Mega Solar Limited (RUMSL). RUMSL is a Joint Venture of Solar Energy Corporation of India (SECI) and Madhya Pradesh UrjaVikas Nigam Limited (MPUVN).
  • It  will reduce emission equivalent to approximately 15 lakh tonne of carbon dioxide every year.

Ministry of Tribal Affairs, Facebook host webinar for sensitization of MPs on GOAL project
Ministry of Tribal Affairs hosted a Webinar along with Facebook India in New Delhi for sensitization of Members of Parliament from Scheduled Tribe (ST) Constituencies on Going Online As Leaders (GOAL) Project.

  • Going Online As Leaders (GOAL) is a digital skilling and mentorship initiative that will engage renowned leaders and experts in their domains-from business, education, health, politics, arts and entrepreneurship among others, to personally mentor scheduled tribe youths across India through digital mechanisms.


BANKING & FINANCE

Maharashtra govt, SBI to set up stress fund for stuck slum rehabilitation projects
The government of Maharashtra along with the State Bank of India is setting up a stress fund to restart stuck slum rehabilitation projects in the Mumbai Metropolitan Region (MMR) and other urban areas of the state.

  • The government will infuse Rs 700 crore to Rs 1,000 crore in this fund aimed at providing financial support to revive such projects.
  • SBI will bring in a much larger amount and also be responsible for managing the fund. Slum Rehabilitation Authority will act as a certifying agency

IRDAI gives its nod to Insurance companies to launch corona Kavach Health Insurance Policies
Given the rapid increase in COVID-19 cases in the country, the Insurance Regulatory and Development Authority of India, IRDAI, has allowed 30 general and health insurers to launch short-term ‘Corona Kavach’ health insurance policies.

  • The policy will cover medical expenses occurred due to coronavirus disease.
  • This policy can be availed by persons between the age of 18 to 65 years. People can avail the Corona Kavach policy for Self, spouse, parents, parents-in-law and dependent children up to 25 years of age.
  • Home care expenses benefit up to a period of 14 days will also be covered in the policy for those seeking treatment within the comfort of their own homes, on the advice of a medical practitioner

ADB, Education Above All Foundation agree to work together for quality Primary Education for out-of-school children
The Asian Development Bank (ADB) and the Qatar-based Education Above All (EAA) Foundation have signed an agreement to carry out $100 million in joint projects to put out-of-school and at-risk children into quality primary education.

  • The two organizations will implement projects in up to 10 countries to ensure that at least 320,000 out-of-school children, including refugees and internally displaced children, realize their right to a quality primary education.
  • The 10 countries initially selected for projects are Afghanistan, Bangladesh, India, Indonesia, Myanmar, Nepal, Pakistan, Papua New Guinea, Philippines, and Sri Lanka.


BUSINESS & ECONOMY

T-Hub partners with MeitY and Digital India to lead program for hardware startups
T-Hub announced its partnership with the Ministry of Electronics and Information Technology (MeitY) and Digital India.

  • T-Hub will lead Digital India’s Scale Up program for hardware and IoT startups across India.
  • MeitY and Digital India aim to provide scale up opportunities to the startups and make them ready in terms of product, investment and new market access.

Flipkart signs MoU with Karnataka govt to Promote local art, craft and handloom
Homegrown e-commerce marketplace Flipkart has signed an MoU with Karnataka MSME and Mines department to promote the states arts, crafts and handloom sectors by bringing them on to e-commerce and providing market access.

  • The partnership under the Flipkart Samarth programme will enable local artisans, weavers and craftsmen of Karnataka to showcase their hallmark products to a pan-India customer base.


APPOINTMENTS

Gyanendro Ningombam elected as new Hockey India President
Hockey India Executive Board held an Emergent Executive Board meeting naming Manipur’s Gyanendro Ningombam as the Officiating President of Hockey India.

  • This was following the resignation letter of Mohd Mushtaque Ahmad received by Hockey India due to his personal and family commitments.

Indian-American Scientist Appointed Acting Head of Top US Agriculture Research Organisation
Prominent Indian-American scientist Dr Parag Chitnis has been appointed as the Acting Director of the prestigious National Institute of Food and Agriculture (NIFA), which drives all federally funded agricultural research in the US.

  • Chitnis was named Associate Director for Programmes earlier this year and leads implementation of NIFA’s approximately USD 1.7 billion research projects.
  • In his new position, Parag Chitnis will replace Dr Scott Angle, who has accepted the position of Vice President of Agriculture and Natural Resources at the University of Florida in Gainesville.

Singapore PM Lee Hsien Loong wins elections 
Singapore Prime Minister Lee Hsien Loong has secured a “clear mandate” with his ruling People’s Action Party (PAP) winning 83 of the 93 contested parliamentary seats in the general election held amidst the COVID-19 pandemic, with the Opposition gaining ground by winning a record 10 seats.

  • The ruling party, in power since independence in 1965, secured 61.24 per cent of the total votes cast in the election, down from 69.9 per cent in 2015.
  • The opposition Workers’ Party secured 10 seats and defeated a team in the Group Representation Constituency of Sengkang led by former Minister in the Prime Minister’s Office Ng Chee Meng who is also the Secretary-General of the power National Trades Union Congress (NTUC).


SCIENCE & TECHNOLOGY

Govt launches ASEEM portal to help skilled people find sustainable livelihood opportunities
Union Ministry of Skill Development and Entrepreneurship  launched Aatamanirbhar Skilled Employee-Employer Mapping (ASEEM) portal to help skilled people find sustainable livelihood opportunities.

  • The portal will map details of workers based on regions and local industry demands and will bridge demand-supply gap of skilled workforce across sectors.
  • ASEEM portal will provide employers a platform to assess the availability of skilled workforce and formulate their hiring plans.


ENVIRONMENT

Average global temperature could rise by 1.5 degrees Celsius in next 5 years: WMO
Global temperatures will continue to warm over the next five years, and may even temporarily rise to more than 1.5 degrees Celsius above pre-industrial levels, the World Meteorological Organization (WMO) said in its “Global Annual to Decadal Climate Update for 2020-2024”

  • This is significant as the countries under 2015 Paris Agreement had agreed to try and limit the average global temperature rise to below 2°C by the end of the century.
  • The annual global temperature is likely to be at least 1 degrees Celsius warmer than pre-industrial levels (defined as the 1850-1900 average) in each of the coming five years and is very likely to be within the range of 0.91 – 1.59 degrees Celsius.
  • This year, large land areas in the northern hemisphere are likely to be over 0.8 degrees Celsius warmer than the average temperature in the 29-year period between 1981 and 2010.


OBITUARIES

Ivory Coast PM Amadou Gon Coulibaly passes away
Amadou Gon Coulibaly, Ivory Coast’s prime minister and the governing party’s candidate for an October presidential election, died just days after returning from two months of medical treatment in France. He was 61.

  • Coulibaly served at many positions which includes technical advisor, senior civil servant, deputy and mayor of Korhogo, agriculture minister, cabinet minister.
  •  After serving as secretary general of the presidency for six years, he became the prime minister of Ivory Coast in January 2017.


IMPORTANT DAYS

World Population Day
World Population Day is an annual event, observed on July 11 every year, which seeks to raise awareness of global population issues.

  • The theme for this year is “How to safeguard the health and rights of women and girls now” amid the coronavirus pandemic.


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