Daily Current Affairs 27th July, 2020

Daily Current Affairs 27 July 2020 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

J&K LG launches macadamisation programme
The Jammu and Kashmir Lieutenant Governor, G C Murmu announced the launch of a macadamisation program for roads across the Union Territory.

• Following a detailed discussion with his Advisors, the Lieutenant Governor approved a program for 100 per cent macadamisation of all roads in J&K, including 11,000 kms of fair-weather roads.
• In the meanwhile, the Lieutenant Governor announced a release of Rs 200 crores to the Public Works Department (PWD) as the first tranche so that the macadamisation work on priority roads can commence.

Government Sets Up Single-Window Clearance For Aviation Sector
The civil aviation ministry has set up a single-window clearance mechanism to expedite various investment proposals in the domestic aviation industry.

• The setting up of the ICC was announced by Finance Minister Nirmala Sitharaman in 2020-2021 Union Budget in February this year.
• The 10-member ICC will be headed by Amber Dubey, joint secretary in the aviation ministry.

DST launches Rs 15-cr fund to support India-Russia collaboration joint R&D for tech development
The Department of Science and Technology has launched the India-Russia Joint Technology Assessment and Accelerated Commercialization Programme in partnership with the Federation of Indian Chambers of Commerce and Industry (FICCI) and Foundation for Assistance to Small Innovative Enterprises (FASIE) of the Russian Federation

• The programme will run through two annual cycles with up to five projects to be funded under each cycle.
• Over a period of two years, the Department of Science and Technology will fund up to Rs 15 crores to 10 Indian SMEs/start-ups and FASIE will provide similar funding to the Russian projects.

Indian Railways to cover all wagons under RFID for tracking by 2022
The Indian Railways is to begin using Radio-Frequency Identification Tags (RFID) for tracking all wagons by the year 2022. A total of 23,000 wagons have been covered under the RFID project so far.

• Using RFID devices, it would be easier for the railways to know the exact position of wagons, locomotives and coaches. Currently, such data is maintained manually, which leaves scope for errors.

INTERNATIONAL NEWS

Hyderabad is 16th most surveilled city in the world
Telangana’s capital Hyderabad has found a place among the top 50 CCTV-surveilled cities in the world. Chennai, ranked 21st overall, comes a close second in Indian surveilled cities, while Delhi is a distant third at 33rd.

• According to a report published by the UK tech firm Comparitech, Hyderabad ranks 16th in the list and is the top-ranked Indian metropolis. With nearly 3 lakh CCTVs for a population of over one crore (2020 estimates), Hyderabad has 30 CCTVs per 1,000 people.
• Eighteen of the top 20 cities in the list are located in China, while third-ranked London is the only city situated outside of China apart from Hyderabad. In the top 50 rankings, 34 cities are in China, two – Moscow and St Petersburg – are in Russia, and Baghdad is located in strife-torn Iraq.

India and Maldives sign contract for development of Geydoshu Mas Plant in Maradhoo and Hulhudhoo
India and the Maldives signed a contract to set up Geydoshu Mas Plant (Neighborhood Fish Processing Plants) at two of the islands – Maradhoo and Hulhudhoo in the Maldives.

• These projects are undertaken under the MoU signed on 17 March 2019 for “Indian Grant Assistance for Implementation of High Impact Community Development Projects through local bodies” and will cost a total of $5.5 million.

India extends Medical Assistance worth about $1 Million to North Korea
The Indian government sent $1 million worth of anti-tuberculosis medicine to North Korea per a request from the World Health Organization (WHO).

• The medical assistance is under the aegis of an ongoing WHO anti-tuberculosis programme in DPRK.

BANKING & FINANCE

ADB, GCF commit to partnership to Boost Green Recovery from COVID-19
The Asian Development Bank (ADB) and the Green Climate Fund (GCF) agreed to partner toward a ‘green recovery’ for members confronting the harsh economic impact of the coronavirus disease (COVID-19) pandemic.

• Under Strategy 2030, ADB will ensure that 75 percent of its committed projects will support climate change mitigation and adaptation by 2030. Climate finance from ADB’s own resources will reach USD 80 billion cumulatively from 2019 to 2030.

Special Liquidity Scheme for NBFCs/HFCs: FinMin sanctions 5 proposals for Rs. 3,090 crore
The Finance Ministry said that five proposals involving an amount of ₹3,090 crore had been sanctioned under the ₹30,000 crore Special Liquidity Scheme for NBFCs and HFCs. 

• Also, 35 more applications seeking financing up to ₹13,775 crore are under process in this scheme, which was announced as part of the Aatma Nirbhar package announced by the Finance Minister Nirmala Sitharaman.

BUSINESS & ECONOMY

Reliance Industries becomes the first Indian company to reach a market capitalisation of Rs. 13 lakh crore
The market capitalisation (m-cap) of Reliance Industries Limited (RIL) crossed the Rs 13 lakh crore mark in trading session as the company’s shares rose nearly 4 per cent in intra-day trading.

• The oil-to-telecom conglomerate’s stock rose as much as 3.73 per cent to hit a fresh all-time high of Rs 2,078.90 per share.

India will be looking at a demand drop in electricity between 7-17 percent by 2025: TERI
According to TERI’s new report, demand for electricity in India will be lower by 7 to 17% due to covid-19 by 2025.

• The report, titled ‘Bending the Curve: 2025 Forecasts for Electricity Demand by Sector and State in the Light of the COVID Epidemic’, also suggests policy-makers, developers, distribution companies, and investors need to be better prepared for the future, if the decline in demand growth persists.
• All 10 of India’s largest power-consuming states will see a demand drop between 5 to 15%.

SPORTS

India’s Mixed Relay Team Silver at 2018 Asian Games upgraded to Gold
The silver medal that the Indian 4×400 mixed relay quartet of Mohammed Anas, M.R. Poovamma, Hima Das and Arokia Rajiv won at the 2018 Asian Games in Jakarta has been upgraded to gold.

• Additionally, Anu Raghavan moved from fourth place to bronze medal position in the women’s 400m hurdles.
• This after the Bahrain squad, which finished first in the 4×400 mixed relay final, was disqualified with Kemi Adekoya of Bahrain being handed a four-year ban by the Athletics Integrity Unit (AIU) for failing a dope test.

Haryana to host 2021 Khelo India Youth Games
Haryana will host the fourth edition of the Khelo India Youth Games after the 2021 Tokyo Olympics, the state’s chief minister Manohar Lal Khattar and union sports minister Kiren Rijiju announced. The Games will be held in Panchkula.

ISL Becomes First League From South Asia to be Inducted in World Leagues Forum
The Indian Super League (ISL) was inducted into the World Leagues Forum (WLF), becoming the first league from South Asia and seventh in Asia to join the association of professional football leagues which includes the likes of the Premier League, La Liga and Bundesliga, amongst others.

• This recognition from WLF is a testimony to Indian football’s rise on the global stage, and the role that ISL is playing in it.

Microsoft, NBA Team Up to put Virtual Fans in Basketball Arenas
Microsoft Corp and the NBA said they have joined forces to put “virtual” fans in the stands of each game using Microsoft’s Teams app and giant screens.

•  The two will equip each game court with 17-foot-tall (5.2 m) LED screens that wrap three sides of the arena.
• The virtual stands will be filled with fans who use the Teams app to log in and sit alongside each other using a new feature of the app called “Together mode” meant to simulate a group of people sitting in a room.

APPOINTMENTS

DG RPF Arun Kumar nominated as Vice-Chairman of International Union of Railways
International Union of Railways, UIC, Paris, has nominated Director General of54r2 Railway Protection Force, Arun Kumar, as Vice-Chairman of its security platform.

• Mr Kumar will take over as chairman of the platform from July 2022 to July 2024. The decision was taken in the 96th General Assembly of the Union. 

AWARDS

Mukesh Ambani becomes fifth-richest in the world as net worth swells past $75 billion
India’s richest man Mukesh Ambani is climbing up the global rich list very fast, and is now the fifth-richest in the world, climbing two ranks from barely a couple of weeks ago.

• According to the Forbes Real-Time Billionaires List, Ambani, 63, has seen his net worth swell to $75.1 billion, from 69.9 billion, when he had become the world’s seventh richest and surpassed Warren Buffet.
• Ambani has overtaken Elon Musk, Larry Elison and Warren Buffet, and is just behind Mark Zuckerberg, who enjoys a net worth of $88.9 billion.

SCIENCE & TECHNOLOGY

WHO launches Covid-19 Law Lab to aggregate legal info from over 190 countries
The World Health Organisation (WHO) launched its Covid-19 Law Lab to gather and share pandemic-related legal documents from over 190 countries across the world.

• The initiative is meant to help countries “establish and implement strong legal frameworks to manage the pandemic”.
• It is a joint project of the United Nations Development Programme (UNDP), WHO, the Joint United Nations Programme on HIV/AIDS (UNAIDS) and the O’Neill Institute for National and Global Health Law at Georgetown University.

India builds World’s first-ever Electrified Rail Tunnel capable of running Double Stack Container Trains
The Indian Railways is in the process of building the world’s first electrified tunnel which is capable of running double stacked container trains.

• The tunnel when complete will be around 1 kilometre long and is situated near Rewari and Dadri in Haryana. 
• The tunnel will also navigate a steep gradient on both the uphill and downhill slope of the Aravalli range.
• The tunnel will be constructed with a cross-sectional area of 150 square metres to leave enough space for the movement of double stack containers. It is one of the biggest tunnels in the country if one considers the cross-sectional area.

OBITUARIES

Tanzania’s Former President Benjamin Mkapa passes away
Former Tanzanian president Benjamin Mkapa was suffering from malaria and died of a heart attack. He was 81.

• Mr Mkapa became Tanzania’s president following the country’s first multiparty election in 1995 and went on to lead the country up to 2005.
• He is credited for boosting tax collections, instituting austerity measures to curb wasteful expenditure and opening doors to foreign investors

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