Daily Current Affairs 28th February, 2020

Daily Current Affairs 28 February 2020 for Banking/Insurance/SSC and other related exams.


RAISE 2020 Summit to be held in New Delhi
The Government of India (GoI) announced the mega event, RAISE 2020- ‘Responsible AI for Social Empowerment 2020,’ to be held from April 11-12 in New Delhi. RAISE 2020 is India’s first Artificial Intelligence summit to be organized by the Government in partnership with Industry & Academia.

  • RAISE 2020 is a first of its kind, global meeting of minds on Artificial Intelligence to drive India’s vision and roadmap for social empowerment, inclusion and transformation through responsible AI

NITI, Nasscom launch AI-based modules to ’empower young minds at schools’
With an imperative to empower the youngest minds of the country with the latest technologies, an AI-based Module was launched for students in Indian schools by NITI Aayog, Atal Innovation Mission (AIM) in collaboration with the National Association of Software and Services Companies (NASSCOM).

  • The module contains activities, videos, and experiments that enable students to work through and learn the various concepts of AI.


India and Turkmenistan receive AFC grassroots charter bronze memberships
The All India Football Federation (AIFF) and the Football Federation of Turkmenistan (FFT) are the latest to join the rising trend of AFC Member Associations benefiting from the game-changing AFC grassroots charter after they both were awarded their bronze memberships for their continuous efforts in strengthening the grassroots movement in their respective countries.

Sri Lankan Govt withdraws from UNHRC resolution on war crimes
Sri Lankan Prime Minister Mahinda Rajapaksa  said that his government will withdraw from co-sponsoring a UN Human Rights Council resolution on accountability for war crimes. 

  • The UNHRC resolution 40/1 was co-sponsored by Sri Lanka and 11 other countries. The main aim of the resolution is investigation of war time violence against Tamil Tiger rebels.


India Post Payments Bank reaches milestone of 20 million customers
India Post Payments Bank (IPPB) has achieved the milestone of two crore customers, providing a major impetus to the government’s efforts in furthering financial inclusion in unbanked and underbanked areas across the country.

  • On average, IPPB has been opening and maintaining a run rate of 33 lakh accounts per quarter.

ADB approves another $2 million to help Asia Pacific tackle coronavirus
The Asian Development Bank (ADB) has approved a further two million dollars to help developing countries in Asia and the Pacific contain the outbreak of the novel coronavirus (COVID-19) and improve resilience to this and other communicable diseases.

  • The funds will be available for all ADB developing member countries in updating and implementing their pandemic response plans including buying emergency supplies and equipment, assessing health system and economic impacts to improve future resilience, and coordinating better regionally to prevent, detect, and respond to animal and human disease outbreaks.

Bob Iger steps down as Disney CEO, replaced by Bob Chapek
Bob Iger is stepping down from his position as the Chief Executive Officer of The Walt Disney Company. Disney has announced that Bob Chapek will assume the role of CEO effective immediately.

  • Iger is staying with the company and assuming his role as executive chairman. Iger’s chairman contract continues through December 31, 2021. Iger will continue to lead the company’s creative endeavors.

Bharti AXA General 1st to use WhatsApp to deliver policy and renewal documents
Bharti AXA General Insurance has started delivering policies and renewal premium to its customers through messaging platform WhatsApp. It plans to sell private car, two-wheeler and travel insurance through a WhatsApp chatbot soon.

  • The company is the first among non-life insurers in India to introduce the entire bouquet of service initiatives such as policy documents, renewal notices and claim intimation for its customers by using WhatsApp chatbot

Finance secretary Rajiv kumar launches ”Baroda Startup Banking” initiative for start-ups in 15 cities
Finance Secretary Rajiv Kumar inaugurated Baroda Startup Banking, an initiative aimed at making the bank a preferred banking partner for the start-up community and establishing connect with at least 2,000 start-ups over the next two years.

  • The initiative was launched simultaneously across 15 cities in the country.
  • The products include customised current accounts, state-of-the-art payments gateways, corporate credit cards, corporate salary accounts and credit facilities apart from other existing products of the bank.


Harsimrat Kaur Badal launches MIEWS Portal for Monitoring prices of TOP crops
Food Processing Minister Harsimrat Kaur Badal launched a MIEWS Web Portal that will forecast wholesale prices of three key vegetables – tomato, onion and potato (TOP) – for three months and enable the government to monitor the supply situation for timely market interventions in case of a price crash during a glut.

  • The Market Intelligence and Early Warning System (MIEWS) Web Portal can be accessed at http://miews.nafed-india.com.

Ordnance Factory Boards to be first govt cos to use centralised invoicing platform
State-owned suppliers of arsenal and protective military gear to India’s defence personnel could become among the first government entities to join the centralized invoicing platform, TReDS, helping smaller vendors access working capital easily.

  • The adoption of TReDS by the 41 Ordnance Factory Boards of the defence ministry would allow MSME vendors to avail financing facilities through the platform by collateralizing the receivable invoices under sovereign guarantee. These vendors sell parts that go into making tanks, complex artillery pieces, or even daily-use items such as helmets or gloves.

DPIIT amended FDI Policy to allow 100% FDI for insurance intermediaries
The Department for Promotion of Industry and Internal Trade (DPIIT) has amended the foreign direct investment (FDI) policy to allow 100% FDI for insurance intermediaries, which includes insurance brooking, insurance companies, third party administrators, surveyors and loss assessors

  • This will bring in global practices in the country, which will include new insurance products and selling strategy.


AIBA cancels European Forum 2020 in Italy due to coronavirus outbreak
The International Boxing Association (AIBA) has cancelled AIBA European Forum 2020 in Assisi, Italy in view of the novel coronavirus outbreak.

  • The AIBA European Forum 2020 was scheduled for February 29 but the decision to cancel the forum was taken by the AIBA leadership in the best interests of the delegates.


Sahitya Akademi’s Translation Prize 2019 awarded to English translation of ‘Kusumabale
Sahitya Akademi’s Translation Prize for 2019 in the category of translation into English has been awarded to Kannada novel Kusumabale by Devanur Mahadeva, rendered into English by Susan Daniel.

  • The award carries a purse of ₹50,000 and a copper plaque. It will be presented later in the year


Offshore patrol vessel “VAJRA” to enhance coastal security launched
The sixth Offshore Patrol Vessel ”Yard 45006 VAJRA” to enhance coastal security was formally launched at Chennai, Tamil Nadu.

  • According to Coast Guard, ‘Vajra’ is the sixth in the series of seven offshore patrol vessels project that is designed and indigenously built by Larsen and Toubro Shipbuilding in line with the Centre’s ‘Make in India’ vision.
  • The ship would be utilized for day and night patrol/surveillance along with anti-terrorist/ anti-smuggling operations in the Exclusive Economic Zone (EEZ) as well as Coastal Security.


Maharashtra to undertake the genetic study to conserve the native species of cattle
With an aim to conserve the native species of cattle and domesticated animals in the Marathwada region of Maharashtra, the state government is planning to undertake their genetic study.

  • Under this project, the genetic traits of Osmanabadi goat, Red Kandhari cow, Deoni bull, Caravan or Pashmi dogs will be studied. Their abilities and adaptation capabilities will also be analysed.
  • The project, to be funded by the Maharashtra government, will help in the conservation of the native species of animals in the region.


Right to Protein declares February 27 as India’s first ‘Protein Day’
Right to Protein, a national-level public health initiative has launched India’s first ‘Protein Day’ on February 27,2020 to draw public attention, raise awareness, and educate India on the health benefits of protein.

  • Globally many countries recognize February 27 as Protein Day and from this year India will also join this movement.
  • The theme of India Protein Day 2020 is set to act as a reminder for all Indians to daily ask themselves and others .

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