Daily Current Affairs 24th July, 2020

Daily Current Affairs 24 July 2020 for Banking/Insurance/SSC and other related exams.


Employees’ Welfare Scheme launched in Arun Jaitley’s name in Rajya Sabha
The Rajya Sabha secretariat has launched an Employees’ Welfare Scheme in the name of former Union finance minister Arun Jaitley, who was also the Leader of the House in the Rajya Sabha.

  • The scheme has been formulated and approved based on the decision of Sangeeta Jaitley, wife of the senior leader who passed away in August last year.
  • The scheme will be funded by the pension his family receives as he has been a member of the upper house.
  • The scheme seeks to benefit group “C” employees of the secretariat by awarding their children three scholarships for higher technical and professional education.

FCC, NPCI host world’s largest virtual fintech event
To bring together fintech and BFSI ecosystems across the globe, the Fintech Convergence Council (FCC), the flagship fintech committee of Internet & Mobile Association of India (IAMAI) along with National Payments Corporation of India (NPCI) and the Payments Council of India (PCI) host the Global Fintech Fest (GFF), an international virtual event.

  • The event is presented by the Department of Economic Affairs (DEA), Ministry of Finance, Government of India and the Reserve Bank of India (RBI).
  • The two-day event themed ‘Fintech: With and Beyond Covid’ with over 100 speakers. It will have more than 10,000 participants from 50 countries

AP signs MoU with Amul to empower women SHGs
Andhra Pradesh Government has signed an MoU with the milk cooperative giant AMUL (Anand Milk Union Limited) to provide fillip to the empowerment of women self-help groups and by encouraging the milk cooperatives in government sector.

  • AMUL will help the women groups and give dairy farming in cooperative sector an opportunity and exposure to world class infrastructure, technology and marketing opportunities which would improve their standard of living and in self-reliance of women.

Delhi Government launches new scheme ‘Mukhya Mantri Ghar Ghar Ration Yojna’
Delhi Chief Minister Arvind Kejriwal launched “Mukhya Mantri Ghar Ghar Ration Yojana” to help the eligible beneficiaries get ration delivered at home.

  • Under the scheme, wheat, flour, rice and sugar packed hygienically in bags will be delivered to the doorstep of people.

Haryana CM launches e-Sachivalaya portal
Haryana CM Manohar Lal Khattar launched e-Sachivalaya portal, a digital platform, facilitating people to take online appointments for virtual meetings with the CM , Deputy CM , Ministers and other Heads of Depts.

  • The portal was launched to provide citizen-centric services to the people in a transparent and seamless manner by making the maximum use of the information technology.
  • After taking the appointment, the person will be given a time slot for the virtual meeting within 24 hours.

CCI approves Krishnapatnam port acquisition by Adani Ports, SEZL
The Competition Commission of India has approved the acquisition of Krishnapatnam Port Company Limited by Adani Ports and Special Economic Zone Limited.

  • The proposed combination envisages acquisition of equity shareholding along with management control of Krishnapatnam Port Company Limited by Adani Ports and Special Economic Zone Limited.

India Business Council hosts 2020 India Ideas Summit
India Business Council hosted the 2020 India Ideas Summit which was addressed by the Prime Minister Narendra Modi. The two-day summit’ organised by USIBC also marked the 45th anniversary of the formation of the council and is based on the theme ‘Building a Better Future’.

  • The Summit convenes business and government leaders for discussions on the future of the U.S.-India Partnership and the trends shaping globalization, trade and investment, and the future of work in the COVID-era and beyond.

Actor Sonu Sood launches job hunt app ‘Pravasi Rojgar’ for migrant workers
Actor Sonu Sood launched Pravasi Rojgar app to offer support to workers in finding right job opportunities in various sectors across the country.

  • The Pravasi Rojgar app will provide all the necessary information and right linkages to find jobs.

India ranks among 10 worst countries for working people: ITUC
India is among the 10 worst countries for working people, according to the seventh edition of the International Trade Union Confederation (ITUC) Global Rights Index that ranks 144 countries on the degree of respect for workers’ rights.

  • The others include Bangladesh, Brazil, Colombia, Egypt, Honduras, Kazakhstan, the Philippines, Turkey and Zimbabwe.
  • The Middle East and North Africa is the worst region in the world for working people for seven years running due to the ongoing insecurity and conflict in Palestine, Syria, Yemen and Libya coupled with the most regressive region for workers’ representation and union rights


Oxford COVID-19 vaccine ‘AZD1222’ early trial shows positive result
The human trial of COVID-19 vaccine candidate developed by the University of Oxford and backed by AstraZeneca Plc has shown a positive result. Officially known as AZD1222, the vaccine has prompted a protective immune response in hundreds of people who got the shot.

  • The researchers said that they found their experimental COVID-19 vaccine produced a dual immune response in people aged 18 to 55.
  • The vaccine uses a weakened version of chimpanzee adenovirus as a vector, infused with the genetic material of SARS-CoV-2 spike protein.

EU approves biggest green stimulus in history With $572 Billion plan
European governments approved the most ambitious climate change plan to date, agreeing to pour more than 500 billion euros ($572 billion) into everything from electric cars to renewable energy and agriculture.

  • At a marathon five-day summit in Brussels, heads of government reached a deal on an unprecedented economic rescue plan and seven-year budget for the region worth €1.8 trillion ($2 trillion).
  • The plan is part of Europe’s bid to become the world’s first climate-neutral continent by 2050.
  • Germany’s recovery plans are among the greenest so far, with about a third of the €130 billion ($145 billion) recovery budget going into areas such as public transport and development of green hydrogen.

Nicaragua becomes the 87th Country to sign ISA agreement
Nicaragua has become the latest country to join the International Solar Alliance Framework Agreement, an initiative led by India to promote sustainable energy.

  • With this, Nicaragua has become the 87th country to sign the agreement.
  • The ISA is an alliance of 121 countries, most of them being sunshine countries which lie either completely or partly between the Tropic of Cancer and the Tropic of Capricorn.

Turkmenistan gets observer status in World Trade Organization
Turkmenistan has been granted Observer status by the World Trade Organization (WTO ) General Council. Turkmenistan has become the last former Soviet republic to establish formal ties with the trade body


Airtel Payments Bank partners NSDC to train rural youth for financial services jobs
Airtel Payments Bank Ltd has collaborated with National Skill Development Corporation (NSDC) to train and skill young people in rural areas on financial services, enabling them to find jobs and become entrepreneurs in the sector.

  • The partnership aims at designing and conducting targeted skill development programs for rural youth that will focus on adoption of tools to boost online banking and digital financial services at a time when the smartphone market is growing and usage of 4G has increased due to stay-at-home restrictions.

PhonePe, ICICI Lombard team up to offer Hospital Cash cover
Digital payments platform PhonePe announced the launch of its Hospital Daily Cash benefit under Group Safeguard Insurance in partnership with private insurer ICICI Lombard.

Nomura estimates India’s GDP to contract by 6.1% in FY21
Economic activity continues to remain weak and will lead to a 6.1 per cent contraction in India’s GDP in the current fiscal, a foreign brokerage said.

  • The Reserve Bank is likely to pause at the upcoming policy review in August and cut rates by 25 basis points each in the October and December reviews, Japanese brokerage Nomura said in a report.


Ben Stokes overtakes Jason Holder to be world’s top-ranked all-rounder
England’s Ben Stokes has overtaken West Indies captain Jason Holder to become the number one ranked all-rounder in the world.

  • The 29-year-old scored 254 runs and took three wickets as England beat West Indies at Old Trafford to level the three-Test series at 1-1.
  • Stokes is the first English all-rounder to top the rankings since Andrew Flintoff in May 2006.He has also climbed to a career-best third position in the batting rankings.
  • The left-hander is joint third with Australia’s Marnus Labuschagne and behind only Australia’s Steve Smith and India captain Virat Kohli.

Lionel Messi wins the Pichichi trophy with 25 goals in La Liga
Lionel Messi won a record seventh top scoring title, also known as the Pichichi award, in the La Liga after netting twice in Barcelona’s 5-0 rout of Alaves in the final round.

  • Messi ended with 25 goals, four more than Karim Benzema, who did not score in Real Madrid’s 2-2 draw at Leganes.


Ganesh Lakshminarayanan to be new chief of Airtel’s enterprise business
Bharti Airtel Ltd has appointed Ganesh Lakshminarayanan as chief executive officer (CEO) of the company’s enterprise business.

  • Lakshminarayanan will succeed Ashish Arora, who has been promoted as the CEO for global business.
  • Arora will look at expanding Bharti Airtel’s global networks, including submarine cable systems, to serve international and domestic customers.

Saba Karim resigns from General Manager Cricket Operations BCCI
Saba Karim, the former India wicketkeeper, has resigned from his post as general manager cricket operations in the Indian cricket board.

  • He is the second big name to resign recently after the CEO Rahul Johri was relieved of his services last week.
  • The 52-year-old Karim, who played one Test and 34 ODIs for India, was appointed by the BCCI in December 2017.


Kannan C S Warrier receives 2019 National Award of Excellence for Outstanding Research in Forestry
Coimbatore-based Kannan Warrier, , Senior principal of Institute of Forest Genetics and Tree Breeding (IFGTB) scientist gets Indian Council of Forestry Research and Education’s National Award of Excellence for outstanding research in forestry, including conservation of endangered sacred groves in the Alappuzha district of Kerala.

  • The award also recognises his research on three productive clones of casuarina, known as kattadi and savukku.
  • Warrier has 27 years of forestry research experience and has published 232 research articles.

Indian-Origin Singapore Nurse gets President’s Award for COVID services
A 59-year-old Indian-origin nurse, Kala Narayanasamy in Singapore has been conferred with the President’s Award for Nurses for serving on the frontline during the COVID-19 pandemic.

  • Kala Narayanasamy was among the five nurses given the award, the Ministry of Health announced.
  • Each recipient was awarded a trophy, a certificate signed by President Halimah Yacob and SGD 10,000 (USD 7,228).

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