Daily Current Affairs 28 & 29 June 2020 for Banking/Insurance/SSC and other related exams.
Govt Approves Additional Rs 1,691 Crore for Highway Works in J&K, Uttarakhand for 2020-21
The government has approved an additional Rs 1,691 crore for highway works by the Border Roads Organisation (BRO) in Jammu & Kashmir and Uttarakhand for 2020-21.
- Of this, Rs 1,351.10 crore has been sanctioned to BRO for road works in Jammu & Kashmir and Rs 340 crore ceiling has been approved for Uttarakhand for national highways.
- In addition, it has also given nod for additional sanction of Rs 71 crore for highway works by the state’s Public Works Department in Jammu & Kashmir, Ladakh, Sikkim and Tamil Nadu.
- Besides, it has also enhanced the total ceiling to Rs 1,955 crore for highways work for under Tribal Sub-Plan (TSP) from the existing Rs 1,081 crore.
Door-to-door Survey Under ‘Kill Corona’ Drive in Madhya Pradesh From July 1
The Madhya Pradesh government will launch a ‘Kill Corona’ campaign from July 1 to control the spread of coronavirus in the state.
- Under the campaign, door-to-door survey will be conducted and tests would also be done on citizens for other diseases.
- During the 15-day campaign, 2.5 lakh tests will be carried out and 15,000 to 20,000 samples would be collected daily.
Gadkari Announces 280-km-long Chambal Expressway between Rajasthan and MP
Union Minister Nitin Gadkari announced a new road project Chambal Expressway to facilitate traffic between Rajasthan and Madhya Pradesh.
- The 280-km-long expressway, to be constructed at a cost of Rs 6,000 crore, will go parallel to the Chambal river via Shivpuri, Bhind, Morena to Kota (Rajasthan).
Maharashtra government announces Maha Parwana plan to attract fresh investments in industries
In a bid to attract fresh industrial investments in Maharashtra, the state government announced a new plan called ‘Maha Parwana’, which will offer several incentives and offer a single-window clearance system for project execution
- In a cabinet decision, the government has decided that henceforth companies investing in a project costing Rs 50 crore or more would not be burdened with getting clearances from several departments. Such companies would be given an assurance letter (Maha Parwana).
‘Surakshit Dada-Dadi, Nana-Nani Abhiyan’ launched to ensure well-being of Senior Citizens amid COVID-19 pandemic
Surakshit Dada-Dadi, Nana-Nani Abhiyan is a collaborative effort between NITI Aayog, Piramal Foundation, and 25 Aspirational Districts to ensure the well-being of 2.9 million Senior Citizens during the COVID-19 pandemic.
- NITI Aayog has launched this campaign following the appeal by Prime Minister Narendra Modi to take care of senior citizens.
- Piramal foundation with the help of social welfare department and district administration is implementing this campaign in Surendranagar district
UP Government to form a dedicated force for industrial security
Uttar Pradesh government has decided to form a dedicated force for security of courts, metro rail, airports, industrial establishments, banks and other organizations in the state.
- Chief Minister Yogi Adityanath has directed officials to constitute the Uttar Pradesh Special Security Force (UPSSF) for this purpose.
- The force will be given special training and will be provided with security equipment. It can be placed at important establishments including religious places.
Chhattisgarh government to launch Adarsh police station scheme from July 1
In a bid to improve police stations and policing in Chhattisgarh, the police department is going to launch an ‘Adarsh Thana’ (Model Police Station) and ‘Adarsh Thana Prabhari’ (Model Thana in-charge) scheme from July 1, 2020
- Police stations which satisfy the standards of Model Police Station will be rewarded.
India-China border row: Govt grants emergency funds to armed forces for war preparedness
Amid the ongoing border tensions with China, the government has granted emergency funds to armed forces for war preparedness. The government has granted big financial power to the defence forces under which they can buy any weapon system under Rs 500 crore.
- The three services have been granted the financial powers by the Narendra Modi government to buy weapon systems under emergency requirement procedure. Now they can buy any in inventory or new weapon upto Rs 500 for each project under these powers.
NASA headquarters to be renamed for Mary W. Jackson
NASA Administrator Jim Bridenstine announced the agency’s Washington, D.C., headquarters building will be named after Mary W. Jackson, its first African American female engineer who helped inspire the story behind the book and film “Hidden Figures.”
- A mathematician and an aerospace engineer, Jackson led programs aimed at uplifting women within NASA.
- She retired from NASA in 1985 and passed away in 2005, at the age of 83.
China to join UN arms trade treaty, ‘enhance’ world peace
China will join a global pact to regulate arms sales that has been rejected by the United States, with Beijing saying it is committed to efforts to “enhance peace and stability” in the world.
- The Communist Party leadership’s top legislative body voted to adopt a decision on joining the UN Arms Trade Treaty that is designed to control the flow of weapons into conflict zones.
BANKING & FINANCE
Government launches 7.15% Floating Rate Saving Bonds
The government has announced the launch of Floating Rate Savings Bonds, 2020 (Taxable) with an interest rate of 7.15 per cent. The bonds will be available for subscription from July 1, 2020 onwards.
- As per the Reserve Bank of India (RBI) press release, the interest rate on these bonds will be reset every six months, the first reset being on January 01, 2021.
- There is no option to pay interest on cumulative basis i.e. interest will be payable in every six months instead of having an option to receive it at maturity.
Instamojo launches InstaCash to solve the liquidity challenge for MSMEs
Instamojo, has launched ‘InstaCash’ to enable merchants to gain access to working capital. Merchants can avail loans for upto Rs 1 lakh, for a period of 7–14 days.
- Instamojo will transfer the amount to the customer once the request has been placed.
- The company has also introduced mojoPlus which enables merchants to earn points on transactions and redeem it to avail discounts on Instamojo fees.
Money in Swiss banks: India at 77th place, accounts for just 0.06% of all foreign funds
India has moved down three places to 77th rank in terms of money parked by its citizens and enterprises with Swiss banks at the end of 2019, while the UK has retained its top position, as per the latest data from Switzerland’s central bank.
- An analysis of the latest annual banking statistics released by the Swiss National Bank (SNB) showed that India remains ranked very low when it comes to money parked by Indian individuals and enterprises in Swiss banks, including through their India-based branches, accounting for just about 0.06% of the aggregate funds parked by all foreign clients of Switzerland-based banks.
- Funds parked by Indian individuals and enterprises in Swiss banks, including through India-based branches, fell by 5.8% in 2019 to 899 million Swiss francs (₹6,625 crore).
World Bank Clears $500 Million Loan to Improve Quality of Education System in Six States
The World Bank said its Board of Executive Directors has approved $500 million (about Rs 3,700 crore) loan to improve quality and governance of school education in six Indian states.
- The board approved a loan for Strengthening Teaching-Learning and Results for States Program (STARS) on June 24, 2020.
- Prior to STARS, the bank had provided a total assistance of more than $3 billion towards this goal.
BUSINESS & ECONOMY
Indian Economy in Deep Trouble as Growth Expected to Shrink by 5 Percent, Says S&P
S&P Global Ratings said Indian economy is in deep trouble with growth expected to contract by 5 per cent this fiscal.
- In its report titled ‘Asia-Pacific losses near USD 3 trillion as balance sheet recession looms’, S&P projected the region’s economy to shrink by 1.3 per cent in 2020, but grow by 6.9 per cent in 2021.This implies a loss nearing USD 3 trillion output over these two years
Grandmaster P. Harikrishna joins world elite in Chessable Masters
The presence of Grandmaster P. Harikrishna is sure to see a major spike in Indian interest in the million-dollar Magnus Carlsen Chess Tour that continues with the $150,000 Chessable Masters.
- Hari, the first Indian on the Tour, is part of a 12-player field that includes the world’s top six – Magnus Carlsen (Norway), Fabiano Caruana (USA), Ling Diren (China), Ian Nepomniachtchi (Russia), Maxime Vachier-Lagrave (France) and Alexander Grishcuk (Russia) – on the classical format ranking list.
Vini Mahajan replaces Karan Avtar to become Punjab’s first woman chief secretary
Senior IAS officer Vini Mahajan took over as the Punjab’s first woman chief secretary, replacing Karan Avtar Singh.Mahajan is set to remain in the post until her retirement in October 2024.
- A 1987-batch IAS officer, Mahajan is the wife of state’s director general of police (DGP) Dinkar Gupta. She will also hold the additional charge of principal secretary, personnel and vigilance.
Sanjita Chanu to receive Arjuna award after IWF drops doping charges
Two-time Commonwealth Games gold medal winning weightlifter K. Sanjita Chanu, who was recently exonerated from doping charges, will get the Arjuna award for 2018, said Indian Weightlifting Federation (IWLF) Secretary Sahdev Yadav.
- Yadav informed Sanjita, who fought a long battle for over two-and-a-half years before seeing her name being cleared of doping charges by the International Weightlifting Federation (IWF) earlier this month.
SCIENCE & TECHNOLOGY
Indian Navy inducts indigenously developed Torpedo Decoy System Maareech
Anti-Submarine Warfare capability of the Indian Navy received a major boost with the induction of Advanced Torpedo Decoy System Maareech capable of being fired from all frontline warships.
- ‘Maareech’ has been designed and developed indigenously by the Defence Research and Development Organization (DRDO) and it is capable of detecting, locating and neutralizing incoming torpedo.
- The Bharat Electronics Limited, a Defence PSU, would undertake the production of this decoy system.
1971 war hero Sqn. Ldr. Parvez Jamasji passes away
Sqn Ldr Parvez Jamasji (retd), who was awarded the Vir Chakra for gallantry during the 1971 Indo-Pakistan war, has died. He was 77.
- During the operations against Pakistan in December, 1971, Flight Lieutenant Parvez Rustom Jamasji was serving with a helicopter unit.
- The former pilot was commissioned in 1965 and retired in 1985.