Daily Current Affairs 26th July, 2020

Daily Current Affairs 26 July 2020 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

HRD Ministry Sets up Panel to Form Guidelines for More Students Studying in India
The HRD Ministry has set up a committee to form guidelines and suggest measures to ensure that more students study in India and there is a smooth transition for students returning from abroad due to COVID-19 situation.

  • The committee headed by D. P. Singh, chairman of the University Grants Commission (UGC) is also supposed to recommend a mechanism to increase the intake in well-performing universities.
  • The committee will present its report within 15 days.


BANKING & FINANCE

Banks’ Gross NPA May Rise to 12.5% by March 2021, Shows RBI’s Financial Stability Report
Gross non-performing assets of all banks may jump to 12.5 per cent by the end of this fiscal under the baseline scenario, from 8.5 per cent in March 2020, according to the Financial Stability Report (FSR) released by the Reserve Bank.

  • Under the ‘very severely stressed scenario’, gross NPA of banks may increase to 14.7 per cent by March 2021.
  • The resilience of Indian banking in the face of macroeconomic shocks was tested through macro stress tests which attempt to assess the impact of cumulative shocks on banks balance sheet and generate projections of gross non-performing asset (GNPA) ratios and capital to risk-weighted assets ratio (CRARs) over a one-year horizon under a baseline and three adverse — medium, severe and very severe — scenarios.

RBI Signs Documents to Extend $400 Million Currency Swap Facility to Sri Lanka, Says Indian Mission 
The Reserve Bank of India has signed necessary documents for extending a USD 400 million currency swap facility to Sri Lanka to boost the island nation’s draining foreign exchange reserves due to the coronavirus pandemic.

  • The currency swap arrangement will remain available till November 2022.


BUSINESS & ECONOMY

Adani Ports signs up for Science-Based Targets initiative
Adani Ports and Special Economic Zone Ltd (APSEZ) has signed up for the Science-Based Targets initiative (SBTi) becoming the first Indian port to commit to set science-based emissions reduction targets across their entire value chain that are consistent with keeping global warming to 1.5°C above pre-industrial levels.

  • The Science-Based Targets initiative (SBTi) is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).
  • It encourages the best practices in science-based target setting and independently evaluates the companies’ targets. APSEZ has join the group of 43 Indian companies who have signed a commitment letter to SBTi.


SPORTS

Bengal Adjudged Top Performer Under AIFF Performance Assessment of States
Bengal was named as the best performing state by the All India Football Federation under its performance assessment system based on various criteria like grassroot development, conduct of leagues and other competitions.

  • Maharashtra and Kerala were declared second and third respectively under the point-based assessment system that indicates the performance of the states on the various operational verticals.


APPOINTMENTS

Sahil Seth appointed as honorary adviser for BRICS CCI
Sahil Seth, Deputy Commissioner of Mumbai Customs, has been appointed as an honorary adviser to the steering committee for the BRICS Chamber of Commerce and Industry (CCI) young leaders for the period 2020-2023.

  • Mr. Seth who is a 2011 batch Indian Revenue Service Officer, expressed his pleasure on being appointed as an honorary advisor which gives him a chance to represent his country. He added that BRICS CCI young leaders is a step in motivating the youth of India.

Rajesh Bhushan appointed as new Health Secretary
Rajesh Bhushan, IAS officer of 1987 Batch, Bihar Cadre has been appointed as the new Health Secretary in the Union Health Ministry.

  • In another major reshuffle Ajay Tirkey has been appointed as Secretary, Department of Land Resources in the Ministry of Rural Development. Ram Mohan Mishra will take over as Secretary in the Ministry of Women and Child Development.
  • Sushil Kumar has been appointed as Secretary, National Commission for Scheduled Castes in the Ministry of Social Justice and Empowerment.
  • Anil Kumar Jain has been given additional charge as Secretary, Mines along with his post of Secretary in the Coal Ministry.


AWARDS

Jordan Henderson wins 2020 FWA Footballer of the Year award
Liverpool captain Jordan Henderson has been named the Football Writers’ Association (FWA) Footballer of the Year for the 2019-20 Premier League season.l

  •  The Reds midfielder played a central role as the Anfield club stormed their way to the Premier League title, their first English top-flight crown in 30 years.
  • Henderson has played in 30 of Liverpool’s league matches so far this season and scored four goals.

Kashmir Saffron Gets GI Certification
The J&K administration issued the certificate of geographical indication (GI) registration for saffron grown in the Kashmir Valley, even as the saffron crop sees both decline in its production as well as shrinking of the land under cultivation.

  • With the GI tag, Kashmir saffron will acquire more prominence in export market and will help farmers get the best price for it.


SCIENCE & TECHNOLOGY

Russia successfully holds flight test of 3D-printed aircraft engine
Russia has for the first time conducted a successful flight test of MGTD-20, a 3D-printed aircraft engine, and its production is scheduled for 2021-2022.

  • The flight tests were held at Kazanbash aviation center in Tatarstan.
  • With the new technology, the production time of the main engine elements has been reduced by 20 times and the cost of their production has been reduced by more than two times.

India, Israel jointly develop ultra rapid testing kit for COVID-19; results within 30 sec
India and Israel have jointly developed an ultra rapid testing kit for COVID-19.

  • The testing kit which has proven it’s efficacy in lab results will now be subjected to broader trials.
  • Indian DRDO scientists along with Defence Research Wing of Israel have been conjointly working on the COVID testing kit.


OBITUARIES

Noted Urdu journalist, satirist Nusrat Zaheer passes away
Renowned Urdu writer and translator Nusrat Zaheer passed away in Saharanpur in Uttar Pradesh at the age of 69.

  •  He spent most of his life in active literary journalism and had his own unique identity in the Urdu world. He wrote columns for Roznama Sahara for a long time.
  • Until recently, he used to write a regular weekly column titled, ‘Nami Danam’ (‘I don’t know’) for the Urdu daily Inquilab

Veteran Urdu poet Shams Jalnavi passes away
Noted Urdu poet Mohammad Shamshuddin, popularly known as ‘Shams Jalnavi’, died Maharashtra due to old age problems. He was 95.

  • Jalnavi penned hundreds of ”ghazals”, ”shers” and ”nazms” (a genre of Urdu poetry) in his lifetime.
  • He used to attend ”mushairas” (poetic congregations) across the country

Prominent child rights activist Achyuta Rao passes away
Prominent child-rights activist and founder of Balala Hakula Sangam, a child rights organisation, Achyuta Rao succumbed to Covid-19 at a private hospital in the city in Hyderabad . He was 58.

  • Achyuta Rao, who founded the Balala Hakkula Sangham in 1985 along with his wife Anuradha, was considered the voice of children, dispossessed of their rights and was one to never give up fighting for their rights. He was also a past member of the State Committee for Protection of Child Rights


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