Daily Current Affairs 9 July 2020 for Banking/Insurance/SSC and other related exams.
Govt Approves Setting up Agri-Infra Fund of Rs 1 Lakh Cr to Support Start-ups, Farmer Groups
The government approved setting up an agriculture infrastructure fund with a corpus of Rs 1 lakh crore to provide financial support to entrepreneurs, start-ups, agri-tech players and farmer groups for infrastructure and logistics facilities.
- The Agri-Infra Fund was part of the Rs 20 lakh crore stimulus package announced in response to the COVID-19 disaster.
- The financial facilities of over Rs 1 lakh crore will be provided to primary agri credit societies, farmers groups, farmer producer organisations (FPOs), agri-entrepreneurs, start-ups and agri-tech players.
Ladakh LG e-launches M.O.D.I & Greenhouse Project to steer UT on sustainable path
Ladakh Lieutenant Governor RK Mathur has e-launched Mission Organic Development Initiative (M.O.D.I) and a Greenhouse Project to steer the Union Territory on a sustainable path.
- The 500 crore rupees Mission Organic Development Initiative will be implemented in three phases in Ladakh region, starting with 66 villages in the first phase this year.Another 85 villages will be certified as organic by next three years while in the final phase the rest of 90 villages from both districts’ will be declared as organic by 2025.
- The Ladakh Greenhouse Project to improve vegetable availability in Ladakh throughout the deep winters. Defence Institute of High-Altitude Research (DIHAR) has researches and developed polycarbonate greenhouse technology with a shelf life of 25 years.
- The project has been allotted a budget of INR 76.44 crores and is targeting the installation of 1676 greenhouses over a span of two years in Leh and Kargil districts.
New administrative building of IARI Jharkhand named after Late Shyama Prasad Mukherjee
The Indian Agricultural Research Institute (IARI), Jharkhand new administrative and the academic building have been named after Bharatiya Jan Sangh founder Late Dr. Shyama Prasad Mukherjee on his 119th birth anniversary.
- Shyama Prasad Mukherjee dedicated his life to the unity and integrity of the country, gave the call for one nation-one law and sacrificed his life in Kashmir.
HP becomes first state where cent per cent households have LPG gas connections: CM
Himachal Pradesh has become the first state in the country where 100 per cent households have LPG connections announced by Chief Minister Jai Ram Thakur.
- Under the central government”s ”Pradhan Mantri Ujjawala Yojana”, gas connections were provided free of cost to women of rural areas,, adding that 1.36 lakh families of the state were benefited under the scheme.
- The state government had launched ”Himachal Grihini Suvidha Yojana” to cover the left out families in the state, who were not covered under the Centre”s scheme.
4th edition of Ministerial on Climate Action held virtually
The fourth edition of the Ministerial on Climate Action (MoCA) was held, virtually for the first time, due to the ongoing pandemic.Union Environment Minister, Shri Prakash Javadekar, represented India in the meeting.
- The meeting was co-chaired by European Union, China and Canada to advance discussions on the full implementation of the Paris Agreement under the United Nations Framework Convention on Climate Change (UNFCCC) and to demonstrate continued political commitment to global climate action.
- The virtual Ministerial on Climate Action was held with prime objective of demonstrating the continued political commitment to global climate action.
The US formally announced its withdrawal from the World Health Organization
The United States has formalized its intent to withdraw from the World Health Organization (WHO).
- WHO is a United Nations body devoted to coordinating international public health efforts, including the global response to the COVID-19 pandemic.
- President Donald Trump first said he would withdraw the U.S. in May if certain conditions were not met within 30 days. The actual project of disentangling the U.S. from WHO began with a letter signed by Secretary of State Mike Pompeo. It will take one year to go into effect
Maldives, Sri Lanka eliminate measles and rubella ahead of 2023 deadline
The Maldives and Sri Lanka have become the first two countries in the region to have eliminated both measles and rubella ahead of the 2023 deadline.
- Maldives reported its last endemic case of measles in 2009 and rubella in 2015. Meanwhile, the island nation of Sri Lanka reported its last endemic case of measles in May 2016 and rubella in March 2017.
BANKING & FINANCE
Govt Halts Merger of 3 State-owned General Insurers, Will Infuse Rs 12,450 Crore
The Union Cabinet decided to halt the merger process of three state-owned general insurance companies, National Insurance, Oriental Insurance and United India Insurance, for the moment and approved fund infusion of Rs 12,450 crore to improve their financial health.
- The cabinet headed by Prime Minister Narendra Modi also decided to increase the authorised share capital of National Insurance Company Limited (NICL) to Rs 7,500 crore and that of United India Insurance Company Limited (UIICL) and Oriental Insurance Company Limited (OICL) to Rs 5,000 crore each to give effect to the capital infusion decision.
Karur Vysya Bank partners with Star Health & Allied Insurance
Karur Vysya Bank has entered into an arrangement with Star Health and Allied Insurance Co to offer a wide range of health insurance options to its customers.
- The tie-up with Star Health would help the bank provide cost effective insurance products and quick settlement of claims to its customers.
Karur Vysya Bank, Bajaj Allianz Life Insurance announce strategic partnership
Karur Vysya Bank (KVB) entered into a corporate agency partnership with Bajaj Allianz Life, one of India’s leading life insurance companies, to offer life insurance solutions to the bank’s customers.
- Through this partnership, the bank will provide Bajaj Allianz Life’s value-packed life insurance solutions to its customers and enable them to achieve their life goals in a planned manner.
Fino Payments Bank launches ‘Bhavishya’ savings account for minors
Fino Payments Bank Limited announced the launch of a savings account scheme for minors aged between 10-18 years. ‘Bhavishya’, a subscription-based savings account, can be opened by paying a nominal amount.
- The bank will initially introduce the Bhavishya savings account in UP, Bihar, and MP and gradually in other states.
- Benefits of Bhavishya savings account includes, no minimum account balance requirement and a free debit card, which can be used at ATMs only to withdraw cash with Aadhaar authentication.
BUSINESS & ECONOMY
RIL Becomes First Domestic Firm to Cross Rs 12 Lakh Crore M-cap Mark
RIL added another feather to its cap as its market valuation crossed Rs 12 lakh crore mark, a first by any domestic company.
- The company’s market valuation rose by Rs 40,508.8 crore to Rs 11,73,677.35 crore at close of trade on the BSE.
- RIL’s partly paid-up shares crossed Rs 40,000 crore in market cap, thereby taking the aggregate market capitalisation of RIL to Rs 12.14 lakh crore (USD 163.1 billion).
At $500 billion, India has world’s fifth-largest foreign exchange reserves
India has accumulated the world’s fifth-largest foreign exchange reserves after China, Japan, Switzerland and Russia, according to the International Monetary Fund.
- Data from the central bank showed reserves were at $506.8 billion as of June 26, 2020.
- The level of reserves is enough to cover 13 months of imports and is equivalent to nearly a fifth of the country’s gross domestic product
NSDC, Microsoft join hands to provide digital skills to over one lakh youth
The National Skill Development Corporation (NSDC) and Microsoft announced a strategic partnership aimed at providing digital skills to over 1 lakh youth in the country over the next one year.
- Microsoft will collaborate with NSDC’s eSkill India portal to provide free access to learning resources and conduct digital skilling awareness drives, equipping the next generation of learners with the skills they need to thrive in a digital economy.
SCIENCE & TECHNOLOGY
CA Mamata Banerjee launches West Bengal govt’s ‘Self Scan app’
West Bengal Chief Minister Mamata Banerjee launched a mobile application ‘Self Scan’, developed by the state’s information technology department, to scan documents and said it reflects patriotism. It is an alternative to CamScanner.
- The state government’s ‘Self Scan’ app came days after the Centre banned 59 Chinese mobile applications and amid a call for boycott of Chinese goods.
- The Self Scan App allows users to scan documents using the built-in camera features of the Self Scan App that lets users select an image and then convert the file to a PDF document later.
Bangladesh govt launches ‘Digital Haat’ for sacrificial animals before Eid-Ul-Azha
The government of Bangladesh has launched a ‘Digital Haat’ for online sale and purchase of sacrificial animals ahead of the festival of Eid-Ul-Azha.
- The initiative has been taken to save the cattle farmers and traders from financial loss amid the Corona pandemic and also to stop further transmission of the infection in the country.
Sijo Kuruvilla George appointed to Centre’s committee on science and tech policy
The founding CEO of Startup Village and founder of Re-think Foundation, Sijo Kuruvilla George, has been selected as member of Central Government’s Expert Committee on Science and Technology Policy.
- It was the Department of Science and Technology and Principal Scientific Advisor of the Union government that formulated the Science, Technology and Innovation Policy 2020 (STIP 2020).
- The expert committee team is tasked with updating the existing 2013 policy with a thrust to be given to scientific innovations.
UK India Business Council appoints Jayant Krishna as Group CEO
The UK India Business Council said Jayant Krishna will take over as its new Group Chief Executive Officer from August 3.
- Krishna has previously led key initiatives of the Skill India mission as CEO, and Executive Director and Chief Operating Officer of the National Skill Development Corporation.
- He will be the first Indian CEO of UKIBC and the first CEO of the Council to be based in India
MCA extends term of Justice Bansi Lal Bhat as acting chairperson NCLAT by three months
The ministry of corporate affairs (MCA) extended the term of Justice Bansi Lal Bhat as acting chairperson of the National Company Law Appellate Tribunal (NCLAT) by three months.
- The extension was applicable from June 15, or until a regular chairperson was appointed.
- He took over the appellate tribunal as acting chairperson on March 15, after Justice SJ Mukhopadhaya completed his term in the office.
Kannada TV actor Susheel Gowda passes away
In a tragic piece of news, actor Susheel Gowda died by suicide at his hometown in Mandya in Karnataka. He was 30 years old.
- He had a stint in television before landing a role in a Kannada movie titled Kamarottu Checkpost. He also acted in Duniya Vijay-starrer Salaga which is yet to be released.
- Apart from acting, Sushil Kumar was an instructor in a gym in Bengaluru but was out of work following the cessation of all film activities due to the COVID-19 lockdown and closure of gym.
Veteran bollywood actor Jagdeep passes away
Veteran Bollywood actor and comedian Jagdeep passed away die to age related issues. He was 81. His original name was Syed Ishtiaq Ahmed Jaffrey. He was the father of popular comedian Javed Jaffrey.
- Jahdeep was best known for his role as Soorma Bhopali in “Sholay”.He also played memorable roles in “Purana Mandir” and in “Andaz Apna Apna” as Salman Khan’s father.
- Jagdeep appeared in around 400 films but it is his role as Soorma Bhopali in 1975 film “Sholay” that is etched in audiences’ minds even today.
British film and TV actor Earl Cameron passes away
Earl Cameron, who was among the first Black actors to break into significant roles in British film, died at age 102.
- The actor first appeared on screen in the 1951 film Pool of London. He was appointed as the Commander of the Order of the British Empire (CBE) in the 2009 New Year Honours.
- Cameron also starred in 1965 Bond movie Thunderball and Doctor Who. He also starred in 2005 film The Interpreter along with Sean Penn and Nicole Kidman.