Daily Current Affairs 3rd April, 2020

Daily Current Affairs 3 April 2020 for Banking/Insurance/SSC and other related exams.

NATIONAL NEWS

25 lakh poor in A.P. to get house sites on April 14 under Navaratnalu-Pedalandariki Illu programme 
The A. P government has issued modified guidelines for the distribution of 25 lakh house sites to the poor in urban and rural areas under Navaratnalu – Pedalandariki Illu (houses for all the poor) programme as per the directions of the High Court.

  • It is in the process of tying up with HUDCO and other organisations for securing loans apart from getting necessary approvals under Pradhan Mantri Awas Yojana (PMAY).

GoI brings COVID-19 tracker app Aarogya Setu
The government of India has launched its official Covid-19 tracking app Aarogya Setu, the app has been developed by Ministry of Electronics and Information Technology — through Public-Private Partnership under guidance of NIC — in just over four days.

  • The app uses smartphones’ location data and Bluetooth to see if a user has been near a Covid-19 infected person.
  •  The app will share user data with the government in case anyone has been in contact with a person who has tested positive for coronavirus.

Donations for PM-CARES Fund granted 100% tax exemption under IT Act, 1961
In order to encourage contributions for the fight against the coronavirus pandemic, the Centre has decided to make all donations towards the newly established PM-CARES Fund eligible for 100 per cent tax deduction. 

  • As the date for claiming deduction under section 80G of the IT Act has been extended up to June 30, the donation made up to that date will also be eligible for deduction from income of FY 2019-20.

NCC offers its volunteer cadets for national duty to fight COVID-19 under ‘Ex NCC Yogdan’
National Cadet Corps (NCC) has offered a helping hand to civilian authorities in the country’s fight against COVID-19 by extending the services of cadets under ‘Exercise NCC Yogdan’.

  •  It has issued guidelines for temporary employment of its cadets to augment relief efforts and functioning of various agencies involved in battling the pandemic.
  • The tasks envisaged for NCC cadets include, manning of helpline/call centres; distribution of relief materials/medicines/ food/essential commodities; community assistance; data management and queue & traffic management

Delhi Govt launches COVID-19 helpline on WhatsApp
Chief Minister Arvind Kejriwal-led Delhi government launched a dedicated helpline number on WhatsApp to ensure that citizens have an easy access to credible information around the COVID-19 crisis.

  • A dedicated WhatsApp helpline number – +91 88000 07722 free-to-use and will act as a central source for accurate, trustworthy and up-to-date information on the ongoing pandemic.

AP Govt starts door to door distribution of pensions in state
Andhra Pradesh government started door to door distribution of welfare pensions to the beneficiaries across the state.

  • Village or ward volunteers began distributing the welfare pensions from about 6 am in Amaravati.
  • The government were distributed to 31 lakh beneficiaries out of the total 59 lakh pensioners in the state


INTERNATIONAL NEWS

India, China mark 70 years of diplomatic relations
India and China exchanged warm words of greetings and spoke of the partnership between the world’s two most populous nations.

  • The occasion was the 70th anniversary of the establishment of diplomatic ties between the two countries, a landmark event.
  • Both countries agreed last year to hold 70 events—35 each in India and China—to mark the occasion but the plan had to be put on hold due to the pandemic


BANKING & FINANCE

SBI lists USD 100 mn green bonds on India INX
BSE’s India International Exchange (India INX) said state-owned SBI has listed green bonds of USD 100 million (about Rs 750 crore) on its debt listing platform.

  • The bank has listed green bonds of USD 100 millionunder itsUSD 10 billionglobal medium term note programme on India INX’s Global Securities MarketGreen Platform(GSM).


BUSINESS & ECONOMY

India’s fiscal deficit may shoot to 6.2% of GDP in FY21: Fitch Solutions
According to Fitch Solutions, India’s fiscal deficit in 2020-21 may shoot up to 6.2 per cent of the GDP from 3.5 per cent government estimate as a fallout of the Covid-19 economic stimulus package.

  • Underpinning the revised forecast are weaker revenue collection as a result of a sharp virus-driven downturn in economic activity and higher expenditures aimed at softening Covid-19’s economic shock

IBM offers ‘Watson Assistant for Citizens’ to quickly address covid-19 queries
IBM is offering its AI platform ‘Watson Assistant for Citizens’ free of cost for at least 90 days, which will provide reliable information on covid-19 related queries.

  • The platform that brings together Watson Assistant, Natural Language Processing, and AI search capabilities, that help in understanding and responding to common questions about coronavirus.

Global economy could shrink by almost 1% in 2020 due to COVID-19 pandemic: United Nations
The global economy could shrink by up to 1 per cent in 2020 due to the coronavirus pandemic, a reversal from the previous forecast of 2.5 per cent growth, the UN has said, warning that it may contract even further if restrictions on the economic activities are extended without adequate fiscal responses.

  • The analysis by the UN Department of Economic and Social Affairs (DESA) said the COVID-19 pandemic is disrupting global supply chains and international trade.
  • In the worst-case scenario, the world economy could contract by 0.9 per cent in 2020

SCTIMST ties up with Wipro 3D to make automated ventilators
Sree Chitra Tirunal Institute for Medical Sciences and Technology, an institute of National Importance of the Department of Science and Technology, has joined hands with Wipro 3D to build a prototype of an emergency ventilator system.

  • The ventilator system is going to be based on an artificial manual breathing unit (AMBU), developed by the institute.
  • AMBU bag or a bag-valve-mask is a hand-held device used to provide positive pressure ventilation to a patient who is either not breathing or who is breathing inadequately.

India’s growth to slow to 4 pc in FY20, recover to 6.2 pc in FY21
Asian Development Bank (ADB) projects India’s gross domestic product (GDP) will slow to 4 per cent in the fiscal year 2020 ending on March 31, 2021 due to a weak global environment and continued efforts to contain the novel coronavirus (COVID-19) outbreak in the country.

  • The Asian Development Outlook (ADO) 2020 forecasts a recovery in India’s economy in FY21 with a growth of 6.2 per cent supported by government reform. India’s economy recorded 5 per cent growth in FY19.

ADB warns global cost of virus could top $4 trillion
The coronavirus pandemic could cost the global economy $4.1 trillion as it ravages United States, Europe and other major economies, the Asian Development Bank warned.

  • The estimated impact is equivalent to nearly five percent of worldwide output based on a range of scenarios, but the lender said losses from “the worst pandemic in a century” could be higher.
  • The Manila-based bank said a shorter containment period could pare the losses to $2 trillion.


APPOINTMENTS

Pravin Jadhav resigns as MD and CEO of Paytm Money
Paytm Money managing director and CEO Pravin Jadhav has resigned over rumoured differences with the company.

  • Jadhav, who built Paytm’s wealth management arm into India’s leading mutual fund platform, reportedly quit over issues related to employee stock options (ESOPs) and remuneration.


AWARDS

Indian Railways’ Chittaranjan Locomotive Works creates world record for manufacturing most locomotives in a year
Indian Railways’ manufacturing unit, Chittaranjan Locomotive Works(CLW) has earned the unique distinction of manufacturing most locomotives in a year. CLW got the recognition from the Limca Book of Records.

  • The Chittaranjan Locomotive Works located in West Bengal produced 402 locomotives in the financial year 2018-19. CLW surpassed their own record of producing 350 locomotives which they had manufactured during the year 2017-18.


OBITUARIES

Tony Lewis of ‘DLS method’ fame passes away
Tony Lewis, renowned in cricket for creating the DLS system, passed away at the age of 78.

  • The Duckworth-Lewis-Stern method, formerly just the DL method which was introduced in 1997 and adopted officially by the ICC (International Cricket Council) in 1999.
  • DSL method is used to revise run chases in a fair manner in rain-affected matches

Gurbani maestro Nirmal Singh Khalsa, Padma Shri awardee, dies of coronavirus
Nirmal Singh Khalsa, a noted singer of Sikh ‘Gurbani’ hymns, died of the novel coronavirus in Amritsar. He was 62.

  • Nirmal Singh Khalsa was the former Hazoori Ragi (priest/singer) at the Golden Temple in Amritsar. Khalsa was credited with having knowledge of all 31 ‘raags’ in the Gurbani of the Guru Granth Sahib.
  • Nirmal Singh Khalsa received the Padma Shri in 2009 for his contribution to Gurbani music


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