Daily Current Affairs 18th March, 2020

Daily Current Affairs 14 March 2020 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

Govt set up an ambitious target to achieve sales of around 70 lakh hybrid and electric vehicles in 2020
The government has set an ambitious target to achieve sales of around 70 lakh hybrid and electric vehicles by the end of this year said by Heavy Industries Minister, Prakash Javadekar

• FAME scheme was formulated to promote the manufacturing of electric and hybrid vehicle technology under the National Electric Mobility Mission Plan 2020.

Haryana’s Amin village renamed Abhimanyupur
Haryana Chief Minister Manohar Lal Khattar gave his nod to rename Amin village to Abhimanyupur after Mahabharta warrior Arjuna’s son Abhimanyu.

Home Ministry sets up 24×7 helpline to address visa, travel restriction queries
The Home Affairs Ministry has issued a 24×7 helpline to answer queries regarding visa and travel restrictions as well as to facilitate foreigners in India in availing of consular service

• The ministry has launched this helpline to assist passengers stranded at airports due to the coronavirus outbreak.
• The helpline number is 011-24300666 and passengers can also mail at support.covid19-boi@gov.in

INTERNATIONAL NEWS

PM Modi participated in the 100th Birth Anniversary of Bangabandhu Sheikh Mujibur Rahman via Video conference
Prime Minister Narendra Modi participated in the 100th Birth Anniversary celebrations of Jatir Pita Bangabandhu, Sheikh Mujibur Rahman in Bangladesh through video message.

• India and Bangladesh’s soul relationship have been founded on common legacy, Our this legacy, the relationship of souls, Bangbandhu’s shown path is also guiding the relationship of partnership, progress and prosperity between the two countries

BANKING & FINANCE

India to provide Nepalese Rupees 107 million for constructing three school buildings in Nepal
India pledged to provide a grant of Nepalese Rupees 107 million to Nepal for the construction of three school buildings and help in creating better facilities for the students.

• The Embassy of India and the Ministry of Federal Affairs and General Administration signed two Memorandum of Understandings (MoUs), one with the Mahakali Municipality, Darchula and second with the Mukhiyapatti Musharniya Rural Municipality, Dhanusha, for the construction of two new school buildings, the Indian Embassy

Payment aggregators to be be regulated entities: RBI
The Reserve Bank said it will regulate activities of payment aggregators (PAs) given the important functions of these intermediaries in the online payments space.

• As per the guidelines on regulation of PAs and payment gateways (PGs), the existing PAs should achieve a net-worth of Rs 15 crore by March 31, 2021 and a net-worth of Rs 25 crore on or before March 31, 2023.

BUSINESS & ECONOMY

J’khand third State to launch star rating for industries
Jharkhand announces an ambitious Star Rating Program, which ranks industries based on their emission levels.

• The Jharkhand State Pollution Control Board (JSPCB), signed a Memorandum of Understanding (MoU) with the University of Chicago Trust (UC Trust), announcing the Star Rating Program for industries in the state.
• It will categorizes industries from 1 star to 5 star, with 1 star being the least compliant and 5 star being the most compliant to pollution standards set by the regulator.

 India’s first flying car factory to come up in Gujarat
Flying car-maker PAL-V of The Netherlands will set up a manufacturing plant in Gujarat and has set a target of commencing production by 2021

• A Memorandum of Understanding was signed in the presence of Gujarat Chief Minister Vijay Rupani between state Industries Principal Secretary MK Das and Carlo Maasbommel, vice president of PAL-V’s international business development.

Microsoft India, NASSCOM Foundation launch initiative to empower people with disabilities
Microsoft India and NASSCOM Foundation launched the Innovate for Accessible India campaign aimed at empowering people with disabilities with the technology and tools required for better integration into society and access to equal opportunities.

• The campaign will be an aggregator of workable technology solutions developed using Microsoft cloud, artificial intelligence and other technologies that address gaps faced by people with disabilities, especially in acquiring services and support in education, skill building, employment, mobility, rehabilitation and other government services.

COVID-19: Facebook to give USD 100 million in cash grants, ad credits to small businesses 
With the widespread impact of the COVID-19, Facebook has announced its efforts at helping small businesses which are most affected by the crisis.

• In a Facebook post, COO Sheryl Sandberg wrote that the company is investing USD 100 million in cash grants and ad credits for up to 30,000 eligible small businesses in over 30 countries where the company operates.

Manikaran Power becomes the first member of India’s gas trading platform
The gas trading platform of Indian Energy Exchange (IEX) has found its first member in Manikaran Power Ltd (MPL). Called the Indian Gas Exchange (IGX), it will be India’s first gas trading platform. 

• IGX would offer spot and forward contracts at Dahej, Hazira and Kakinada. While Petronet LNG Ltd (PLL) operates a LNG terminal at Dahej, Shell operates another one at Hazira. Kakinada is the landfall point for natural gas being produced from the Krishna Godavari basin.

S&P lowers India’s growth forecast to 5.2% for 2020 amid Covid-19 pandemic
S&P Global Ratings lowered India’s economic growth forecast to 5.2 per cent for 2020, saying the global economy is entering a recession amid the coronavirus pandemic.

• The agency had earlier projected a growth rate of 5.7 per cent during the 2020 calendar.
• Asia-Pacific economic growth in 2020 will be more than halve to less than 3 per cent as the “global economy enters a recession”.

SPORTS

ATK FC create history, beat Chennaiyin to lift ISL trophy 3rd time
ATK FC lifted the Indian Super League (ISL) trophy for the record 3rd time following a 3-1 win against Chennaiyin FC in the final held at the Jawaharlal Nehru Stadium in Margao.

• The match was played behind closed doors in the wake of the coronavirus outbreak. Javi Hernandez’s (10′) and Edu Garcia’s (48′) goals put ATK on the domination position but Nerijus Valskis (69′) reduced their advantage to set up a tense end to the contest.

APPOINTMENTS

Iraqi President Salih appoints Adnan al-Zurfi as new PM-designate
Iraqi President Barham Salih appointed Adnan al-Zurfi as the country’s new prime minister-designate in an effort to resolve a months-long political crisis.

• Al-Zurfi has 30 days to form his cabinet which would then go for a vote of confidence in Iraq’s fractious Parliament.
• Al-Zurfi will succeed interim Prime Minister Adel Abdul Mahdi, who quit in December following a widespread mass demonstrations against the government that many Iraqis see as corrupt, failing to provide them with basic services, and obliged to neighbouring Iran.

Former Air India CMD Ashwani Lohani appointed chairman of APTDC
Former Chairman and Managing Director of Air India Ashwani Lohani has been appointed as the Chairman of Andhra Pradesh Tourism Development Corporation (APTDC) for one year.

• Lohani had previously served as chairman of the Railway Board and CMD of the India Tourism Development Corporation

HSBC confirms Noel Quinn as new CEO
Asia-focused banking giant HSBC appointed Noel Quinn as its chief executive, ending months of speculation as the coronavirus crisis causes global upheaval and hits banks hard.

• Quinn had been serving as interim CEO and has already launched a broad restructuring plan for the troubled bank.
• He took over as acting CEO after the shock ousting in August of John Flint, and was tasked with initiating a transformation of the sprawling international bank, which spans more than 50 countries but makes the vast majority of its profit in Asia.

Click here to read Daily Current Affairs