Daily Current Affairs 29th July, 2020

Daily Current Affairs 29 July 2020 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

Road in Lucknow named after former MP Governor Lalji Tandon
The Lucknow Municipal Corporation named a road and a crossing in the city after former Madhya Pradesh Governor Lalji Tandon.

• The Chauk Chauraha will now be known as Lalji Tandon Chauraha and the Lucknow-Hardoi Road will be known as Tandon Marg.

INTERNATIONAL NEWS

22 million children from South Asia missed out on early childhood education due to COVID-19: UNICEF
As many as 22 million children from South Asian countries, including India, have missed out on early childhood education in their critical pre-school year due to the ongoing Covid-19 pandemic, reveals new research by the United Nations International Children’s Emergency Fund (UNICEF).

• It zeroed in on the predicament of childcare and early childhood education globally. It analysed the impact of widespread Covid-19 closure of vital family services.
• The research further noted that lockdown has been a setback for innumerable families as they try to balance childcare and paid employment.

India to set up solar power park in Sri Lanka
India plans to build a solar power park in Sri Lanka as part of a strategy to project its presence in the Indian Ocean Region (IOR) amid Chinese attempts to lure nations into its ‘Belt and Road’ initiative.

• Leveraging its solar expertize, India’s largest power generation utility NTPC Ltd plans to set up this project in the island nation under the aegis of International Solar Alliance (ISA).

BANKING & FINANCE

Bank of Maharashtra joins hands with Uniken for Omni-channel security
In a bid to secure its Internet banking channels as also mobile, card, call centres and ATMs, among others, against cyber fraud, the state-owned Bank of Maharashtra has joined hands with Uniken, a pioneer in the field of digital security in India.

• The bank will use Uniken’s REL-ID technology for Omni-channel security.
• The REL-ID technology by Uniken has been modelled for defence-in-depth functions that will help secure the bank’s mobile apps by protecting them against phishing, pharming and malware attacks.

SBI providing USD 16 million liquidity support for local businesses in Maldives
The State Bank of India (SBI) is providing liquidity support of USD 16.20 million for local businesses and deferred loan repayment for over 200 retail accounts, the Indian High Commission in the Maldives.

• On the occasion of Independence Day of the Maldives on July 26, Indian High Commissioner Sunjay Sudhir said, assistance of USD 400 million through an extended currency swap arrangement has been made available already to tide over liquidity shortage.

SBI Card, IRCTC launch co-branded contactless credit card on RuPay platform
IRCTC and SBI Card together launched their new Co-branded Contactless Credit Card on RuPay Platform

• The new RuPay credit card is equipped with Near Field Communication(NFC) ,  technology with which, users can expedite their transactions at the POS machines by just tapping the card on the machines.

Bharti AXA General Insurance launches ‘Bohot Zaroori Hai’ campaign for farmers
Bharti AXA General Insurance, a joint venture between Bharti Enterprises, one of India’s leading business groups, and AXA, one of the world’s largest insurance companies, has launched its crop insurance campaign – ‘Bohot Zaroori Hai’ – for farmers in Maharashtra and Karnataka to encourage them about their yield protection and financial security.

• The campaign ‘Bohot Zaroori Hai’ is aimed at making the farming communities aware about the relevance and significance of crop insurance that mitigates the rural distress caused by crop failure or damage due to factors like unseasonal rains, monsoon failure, storms, floods, pests and diseases.

BUSINESS & ECONOMY

Increase in AI Adoption by One Unit Will Boost India’s GDP by 2.5 Percent: Report
A study by Google, IT industry body Nasscom and think tank ICRIER revealed, one unit increase in Artificial Intelligence (AI) intensity by Indian firms can result in a 2.5 per cent increase in the country’s gross domestic product (GDP) in the immediate term.

• In the absence of a direct measure of AI at the firm level, the model uses investments in software, databases and computer machinery as a proxy for AI.
• The research, however, found that the current rate of growth in AI investments is unlikely to increase the levels of AI intensity adequately. In order to trigger a positive growth shock, AI intensities should be sharply increased.

India’s FY21 GDP to Contract by 6 Percent amid Rising Covid-19 Cases: Report
Expecting prolonged restrictions in movements due to rising COVID-19 cases, a foreign brokerage has cut India’s FY21 GDP estimate sharply to a contraction of 6 per cent as against 4 per cent earlier , according to the report by Bofa Securities.

• In  the “bear case” scenario, if the vaccine against the novel coronavirus is delayed, the GDP contraction can go up to 7.5 per cent. 
• The analysts at Bofa said they now expect the current restrictions to stretch till mid-November because of a spike in the number of cases and added that as per its base case, 1 percentage point of GDP is lost for every month of lockdown

APPOINTMENTS

Andrej Plenković re-elected as Prime Minister of Croatia
Croatia’s parliament has approved a new government led by a conservative party that won a parliamentary election earlier this month.

• Prime Minister Andrej Plenković’s government won support in the 151-member assembly in a 76-59 vote.
• Plenković was the prime minister of the previous government which was also led by his Croatian Democratic Union (HDZ) party.

Somalia’s Deputy PM Mahdi Mohammed Gulaid appointed acting  Prime Minister
President Mohamed Abdullahi Mohamed has appointed Mahdi Mohammed Gulaid as the Acting Prime Minister of Somalia following the House of the People’s motion of no confidence against the government of Prime Minister Hassan Ali Khayre.

• Earlier, the country’s parliament ousted Khaire by a vote of no confidence.

Activist Archana Soreng in UN Chief’s New Youth Advisory Group on Climate Change
A climate activist from India has been named by UN Secretary-General Antonio Guterres to his new advisory group comprising young leaders who will provide perspectives and solutions to tackle the worsening climate crisis, as the global body mobilizes action as part of the COVID-19 recovery efforts.

• Archana Soreng joins six other young climate leaders from around the world who have been named by Guterres to his new Youth Advisory Group on Climate Change.
• The other selected members of the group are climate activist Nisreen Elsaim of Sudan, Fiji’s Ernest Gibson, the co-coordinator for 350 Fiji, a regional youth-led climate change network, young economist Vladislav Kaim of Moldova who is committed to ensuring green and decent jobs for youth.

Former Coal India chief Anil Kumar Jha appointed member of key green panel
The government has appointed former chairman of Coal India, Anil Kumar Jha, as the chairman of a key panel that deals with violation of environment rules.

• Jha will head an Expert Appraisal Committee formed by the environment ministry. The panel appraises projects that are commissioned without obtaining prior environmental clearance and have been termed as cases of violation.
• The panel was earlier constituted in June 2017 for three years. Its tenure has now been extended till June 2021.

SCIENCE & TECHNOLOGY

 PM Modi launches three high throughput COVID-19 testing facilities in Noida, Mumbai, Kolkata
Prime Minister Narendra Modi launched three high throughput COVID-19 testing facilities via video conferencing.

• These facilities are located at the National Institutes of Indian Council of Medical Research, at Kolkata, Mumbai and Noida. These hi-tech testing facilities will boost the testing capacity by almost 10,000 daily tests. 
• In a small span of time, there are almost 1,300 such labs in the country now.

ENVIRONMENT

Centre to convert ravines of Chambal region into arable land with World Bank support
The Centre, in collaboration with the World Bank, has decided to convert large area of ravines in Gwalior-Chambal belt of Madhya Pradesh into arable land, and a preliminary report for the same will be prepared in a month.

• More than 3 lakh hectares of rugged land is not cultivable and if this area is improved, then this will help in the integrated development of the Bihad area in Gwalior-Chambal region.
• The project will not only help in improving agricultural development and environment but will also create employment opportunities and lead to substantive development of the region.

OBITUARIES

 Mother India actress Kumkum passes away
Veteran Bollywood actress Kumkum, who featured in classic Hindi movies such as ‘CID’, ‘Mr X in Bombay’ and ‘Mother India’, passed away in Mumbai. She was 86.

• The actress has worked in more than 100 movies in her entire career. She was famous for appearing alongside Kishore Kumar on the silver screen.

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