Current Affairs Today 17th June 2020-Download in PDF

Hello and welcome to exampundit. Here are the important Current Affairs Today 17th June 2020. These are important for the upcoming Exams. Candidates who were preparing for the examination can use these current affairs and also you can download the same as PDF.

Current Affairs Today – 17th June 2020

NEWS AT A GLANCE

1. Every year, the United Nations observes World Day to Combat Desertification and Drought on June 17.
2. The Asian Infrastructure Investment Bank (AIIB) approved 750 million USD loan to India.
3. Microsoft has launched the Money in Excel feature for Microsoft 365 Personal and Family subscribers, starting first in the US.
4. The Union Minister of Social Justice and Empowerment, Dr. Thaawarchand Gehlot is to inaugurate Composite Regional Centre (CRC) on 17 April through video conferencing amid COVID-19 pandemic.
5. India has pledged to construct a Rs.2.33 crore sanitation facility at the Pashupatinath Temple complex in Kathmandu, Nepal.
6. The Railway Board recently informed that the Indian Railways has carried 4,450 Shramik trains so far carrying 6 million migrant workers generating revenue of Rs 360 crores.
7. The Bombay High court recently sought report on Environmental Impact Assessment (EIA) of Lonar lake from the National Environmental Engineering Research Institute (NEERI) and GSI (Geographical Survey of India).
8. The Pune based Serum Institute of India is to supply Pneumonia vaccine to low-income countries.
9. Twitter launched a dedicated search prompt to serve information and updates from authoritative sources around domestic violence.
10. West Bengal government has launched a job portal ‘KarmaBhumi’ for IT professionals who have returned to the state amid the COVID-19 pandemic.
11. The Grand Anicut Dam, on the Cauvery river, near Trichy, was formally declared open by Tamilnadu state ministers Duraikannu, O S Maniyan and Kamaraj.
12. Tamil Nadu chief minister Edappadi Palaniswamy has announced a solatium of twenty lakh rupees to the family of the jawan who was martyred in the border skirmish between Indian and Chinese soldiers in Ladakh.
13. In Uttar Pradesh, a special commission has been set up for the employment generation and safeguarding the interests of workers.
14. To ease the burden on COVID Care Centres, Ahmedabad Hospitals and Nursing Homes’ Association, AHNA has launched home care initiative for mild to moderate COVID-19 patients in the city
15. A unique project to produce Neera and Palmgur has been rolled out by the Khadi and Village Industries Commission (KVIC) in Palghar district of Maharashtra.
16. Prime Minister of Kyrgyzstan, Mukhammedkalyi Abylgaziev has resigned from the post.
17. WhatsApp has launched its ‘WhatsApp Pay’ in Brazil, two years after it began testing the payments service in India.
18. IT major HCL Technologies has commenced operations in Sri Lanka, and plans to create over 1,500 local employment opportunities in the next 18 months.
19. According to the World Investment Report 2020, of UN Conference on Trade and Development (UNCTAD), India emerged as the world’s ninth largest recipient of Foreign Direct Investments (FDI) in the year 2019.
20. The Institute of Management Development recently released the World Competitive Index.
21. The Ministry of Earth Science recently released its report “Assessment of Climate Change over Indian Region”.
22. Three Chinese firms are among the 12 companies from different countries with which the Maharashtra government has signed MoUs collectively worth Rs 16,000 crore.
23. Car market leader Maruti Suzuki India (MSI) has partnered with Karur Vysya Bank to offer simpler and flexible financing schemes for new customers.
24. Maruti Suzuki India Ltd (MSIL) has partnered IndusInd Bank for vehicle financing to help spur sales after resumption of operations following lockdown relaxations.
25. Hyderabad-based Deccan Development Society has won the Prince Albert II of Monaco Foundation Award.

NEWS IN DETAILS

IMPORTANT DAYS AND THEMES

World Day to Combat Desertification and Drought observed on 17 June

• Every year, the United Nations observes World Day to Combat Desertification and Drought on June 17.
• Theme: Food, Feed Fibre-The links between consumption and land
• The World Day to combat Desertification and Drought is observed focusing on changing public attitudes towards land degradation and desertification.
• The day was proclaimed by the United Nations in 1995 after the United Nations Convention to Combat Desertification was drafted.

BUSINESS & ECONOMY

750 million USD loan approved by AIIB to India

• The Asian Infrastructure Investment Bank (AIIB) approved 750 million USD loan to India.
• The fund granted is to be used by the GoI to strengthen battle against the impact of COVID-19 on the poor and vulnerable.
• The aid was cofinanced by the Asian Development Bank (ADB).
• The funds are to be used for improving informal sector, safety nets for the needy and and strengthen heath care system of the country.
• The total sovereign loans to India that were already approved by AIIB amounts to 3.6 billion USD.
• This includes the recent emergency response of the bank that amounted to 500 million USD.
• The loan allocated is the second for the country under AIIB COVID-19 Crisis Recovery Facility (CRF).

Extra Shots:

AIIB:

• Headquarters: Beijing, China
• Region served: Asia and Oceania
• Membership: 102 Members
• Main organ: Board of Governors; Board of Directors
• Purpose: Crediting
• Formation: 16 January 2016 (Open for business); 25 December 2015 (Entry into force Articles of Agreement)
• Legal status: Treaty

Microsoft launches ‘Money in Excel’ to help users manage finances

• Microsoft has launched the Money in Excel feature for Microsoft 365 Personal and Family subscribers, starting first in the US.
• ‘Money in Excel’ is a template and add-in for Excel that allows users to securely connect bank, credit card, investment, and loan accounts to Excel and automatically import your transaction and account information into an Excel spreadsheet.

How to use:

• If you’re a current Microsoft 365 Personal or Family subscriber, simply go to this link to download the template.
• Once downloaded, open the Excel template and follow the on-screen prompts to connect your financial accounts using a secure third-party plugin supported by Plaid (Plaid currently supports most major U.S. financial institutions).
• Once your account information is verified, the workbook will be updated with your latest transaction history and is now ready for use.
• Once your financial accounts are connected, Money in Excel will automatically import your transaction information from all your accounts into one workbook.
• You no longer need to spend hours manually setting up a personal finance spreadsheet from scratch; Money in Excel does it for you in just a few seconds,
• Every time you want to update the workbook with the latest transactions, just click the Update button and get the latest snapshot of your transactions and accounts without ever leaving Excel.
• Once your transaction information is imported into Excel, it’s easy to track your spending habits to help stay on course and get closer to your financial goals.

Benefits:

• With the help of easy-to-read graphs, you can quickly track how your spending compares month over month.
• Money in Excel will alert you to increases in your subscription fees, changes in bank and overdraft charges, or any big purchases that were posted during the month.

Extra Shots:

Microsoft:

• CEO: Satya Nadella
• Founded: 4 April 1975, Albuquerque, New Mexico, United States
• Headquarters: Redmond, Washington, United States
• Founders: Bill Gates, Paul Allen

NATIONAL CURRENT AFFAIRS

Thaawarchand Gehlot to inaugurate CRC for persons with disabilities in Ranchi

• The Union Minister of Social Justice and Empowerment, Dr. Thaawarchand Gehlot is to inaugurate Composite Regional Centre (CRC) on 17 April through video conferencing amid COVID-19 pandemic.
• The Centre is located inside Namkum Block Office, Khijri, Ranchi.

CRC-Ranchi:

• CRC-Ranchi will provide rehabilitation services including Physical medicine, Physiotherapy, Occupational therapy, Audiology and Speech Therapy, Psychology, Prosthetics & Orthotics, Special Education, Early intervention & treatment, etc., to persons with disabilities in Jharkhand and adjoining areas.
• CRC will implement various schemes of the Department of Empowerment of Persons with Disabilities including skill development programme for PwDs.
• The Centre aims to contribute towards the vision of “Sabkaa Saath, Sabkaa Vikaas, Sabkaa Vishwaas” of GoI.
• CWC is to distribute 46 numbers of wheelchairs, 80 nos. of tricycles, 64 nos. of crutches, 40 nos. of smartphones, 2 nos. of sewing machines, 2 nos. of laptops and 2 nos. of mobile repairing kits amongst Divyangjan following social distancing norms and provide necessary rehabilitation services to needy Divyangjan.
• The centre will operate as an extended arm of Swami Vivekanand National Institute of Rehabilitation Training & Research, Cuttack, Odisha.

India to construct sanitation facility at Pashupatinath Temple, Nepal

• India has pledged to construct a Rs.2.33 crore sanitation facility at the Pashupatinath Temple complex in Kathmandu, Nepal.
• It will improve the infrastructure in the holy shrine for the pilgrims.

Highlights:

• Pashupatinath Temple project will be constructed under the Nepal-Bharat Maitri: Development Partnership as a high impact community development scheme by India.
• Under the initiative, India has pledged to extend financial assistance amounting to NRs Rs.2.33 crore for the sanitation facility that would be implemented by the Kathmandu Metropolitan City.
• The project will be implemented as per the norms laid out by the Nepal Government in 15 months.
• India’s assistance for the infrastructure development at the Pashupatinath Temple complex comes amid a raging border row between the two countries.

Note: In Nepal, Pashupatinath Temple is the largest temple complex. It has stretched on both sides of the Bagmati River. Thousands of worshippers from Nepal and India visit the temple every day.

Shramik Trains generated Rs 360 crores revenue

• The Railway Board recently informed that the Indian Railways has carried 4,450 Shramik trains so far carrying 6 million migrant workers generating revenue of Rs 360 crores.

Highlights

• The average fare of Shramik special train was around Rs 600 per ticket.
• Though the revenue seems bigger, the Railways collected only 15% of cost of operations. The operating cost of a special migrant train was around Rs 75-80 lakhs.
• The demand for the Shramik special trains is reducing.
• This proves that majority of the workers have been sent back home.
• In May 22, 2020, the demand for Shramik trains from the states was around 200.
• The number had come down to 38 in June 1, 2020.

High Court seeks EIA on Lonar lake colour change

• The Bombay High court recently sought report on Environmental Impact Assessment (EIA) of Lonar lake from the National Environmental Engineering Research Institute (NEERI) and GSI (Geographical Survey of India).

Highlights

• The expert team from Geographical Survey of India and NEERI are to examine the findings of glass formation on the surface of the lake.

Lonar Lake

• The Lonar Lake in Maharashtra is an oval shaped lake that was formed by a meteorite hit on the earth around 50,000 years ago.
• The colour of the lake had recently turned pink.
• The area around the lake is an eco-sensitive zone as it consists of the Ejecta Blanket that is made up of the same material as that found on the moon.
• The lake is a National Geo-Heritage monument.T

The lake turn pink

• Experts believe that the Lonar lake turned pink due to increased salinity in the water and also due to the presence of algae.
• The amount of water in the lake has reduced thereby increasing its salinity and turning the lake pink.

National Geo-Heritage Monument

• The National Geo-Heritage Monument are areas of national importance and are notified under Geological Survey of India for protection, maintenance, promotion and enhancement of geotourism.
• There are 34 National Geo-Heritage Monuments in India.
• The respective state governments are responsible to protect these sites.

India to supply Pneumonia Vaccine to low-income nations

• The Pune based Serum Institute of India is to supply Pneumonia vaccine to low-income countries.
• The Institute is one of the leading manufacturers of vaccines and immunobiological drugs.

Highlights

• The Serum Institute of India and UNICEF have signed an agreement to supply pneumonia vaccine to low income countries.
• Under the agreement, the institutes are to provide 10 million Pneumococcal Conjugate Vaccine that will help prevent pneumonia to low income countries
• The Pune based Serum Institute of India is to supply Pneumonia vaccine to low-income countries.
• The Institute is one of the leading manufacturers of vaccines and immunobiological drugs.
• The Serum Institute of India and UNICEF have signed an agreement to supply pneumonia vaccine to low income countries.
• Under the agreement, the institutes are to provide 10 million Pneumococcal Conjugate Vaccine that will help prevent pneumonia to low income countries

GAVI Alliance

• The Serum Institute of India along with UNICEF and GAVI alliance are to supply the vaccine at 2 USD per does.
• This is 43% less than GAVI price of 3.50 USD under the Advance Market Commitment

Advance Market Commitment

• Under Advance Market Commitment, the GAVI alliance provided incentives to the pharmaceutical companies to develop and produce suitable vaccines.
• This was done to provide sustainable prices to the vaccines.
• The AMC was launched in 2009. It has so far prevented deaths of 700,000 children in 60 developing countries.
• The AMC programme is set to end this year (2020).
• The programme was launched by Canada, UK, Russia, Bill and Melinda Gates Foundation and Norway.

Extra Shots:

UNICEF:

• Headquarters: New York, New York, United States
• Head: Henrietta H. Fore
• Founded: 11 December 1946, New York, New York, United States
• Founders: United Nations General Assembly, Ludwik Rajchman
• Parent organizations: United Nations General Assembly, United Nations Economic and Social Council

Twitter launches dedicated tool to curb domestic violence in India

• Twitter launched a dedicated search prompt to serve information and updates from authoritative sources around domestic violence.

Highlights:

• Twitter has partnered with the Ministry of Women and Child Development the National Commission for Women in India to expand its efforts towards women.
• The search prompt will be available on iOS, Android and on mobile.twitter.com in India, in both English and Hindi languages
• This is an expansion of Twitter’s #ThereIsHelp prompt, which was specifically put in place for the public to find clear, credible information on critical issues.
• The feature will be reviewed at regular intervals by the Twitter team to ensure that all related keywords generate the proactive search prompt, said the company.
• Violence against women and girls across Asia Pacific is pervasive but at the same time widely under reported.
• This initiative by Twitter will provide big support to the survivors, who would otherwise be easily isolated without access to relevant information and help.

Extra Shots:

Twitter:

• CEO: Jack Dorsey
• Founded: 21 March 2006, San Francisco, California, United States
• Headquarters: San Francisco, California, United States
• Founders: Jack Dorsey, Evan Williams, Noah Glass, Biz Stone

STATE CURRENT AFFAIRS

WB govt launches “Karmabhumi” a job portal to help IT professionals

• West Bengal government has launched a job portal ‘KarmaBhumi’ for IT professionals who have returned to the state amid the COVID-19 pandemic.
• IT professionals can use the portal ‘Karmo Bhumi’ to connect with companies based in the state.
• A web portal will act as a medium between the professionals and IT companies in Bengal.
• There are around 700 IT and ITeS companies at Salt Lake Sector V and Rajarhat where at present around 2.5 lakh people work.
• IT professionals now connect to IT companies of Bengal through karmabhumi.nltr.org.

Extra Shots:

West Bengal:

• Established on: 26 January 1950
• Capital: Kolkata
• Governor: Jagdeep Dhankhar
• Chief Minister: Mamata Banerjee

Grand Anicut Dam declared open by Tamil Nadu

• The Grand Anicut Dam, on the Cauvery river, near Trichy, was formally declared open by Tamilnadu state ministers Duraikannu, O S Maniyan and Kamaraj.
• The move is expected to ensure adequate availability of water for mitigating close to three and a half lakh hectares of farm land in the Delta region.
• The opening of the dam had been slightly delayed so that increased quantity of water could be ensured. Farmers in far flung Cauvery delta districts like Tiruvaroor and Nagapattinam have been anxiously awaiting the opening of Grand Anicut, locally known as the Kallanai.
• The sowing for the Kuruvai crops depends mainly upon the opening of Kallanai.
• Though the dam is situated about 15 to 20 kms away from Trichy city, it falls under the administrative jurisdiction of Thanjavoor district, often described as the “rice bowl of Tamilnadu”.

Extra Shots:

Tamilnadu

• Capital: Chennai
• Chief Minister: Edappadi K.Palanisamy
• Governor: Banwarilal Purohit
• Chief Justice of Madras High Court: Vijaya Kamlesh Tahilramani
• National Park: Guindy NP,Gulf of Mannar Marine NP, Indira Gandhi (Annamalai) NP,             Mudumalai NP, Mukurthi NP.

Tamil Nadu CM announces solatium of Rs 20 lakh to family of jawan who martyred in Ladakh

• Tamil Nadu chief minister Edappadi Palaniswamy has announced a solatium of twenty lakh rupees to the family of the jawan who was martyred in the border skirmish between Indian and Chinese soldiers in Ladakh.
• In a statement he has said one of the family members of the slain jawan K. Palani from Ramanathapuram district will be offered a Government job.

Extra Shots:

Tamilnadu

• Capital: Chennai
• Chief Minister: Edappadi K.Palanisamy
• Governor: Banwarilal Purohit
• Chief Justice of Madras High Court: Vijaya Kamlesh Tahilramani
• National Park: Guindy NP,Gulf of Mannar Marine NP, Indira Gandhi (Annamalai) NP,             Mudumalai NP, Mukurthi NP.

UP cabinet gives nod to set up workers welfare commission

• In Uttar Pradesh, a special commission has been set up for the employment generation and safeguarding the interests of workers.
• State Cabinet gave its nod to set up Uttar Pradesh workers welfare commission the UP Kamgar Shramik Sevayojan Avam Rozgar Aayog, the commission will have an executive board in which many ministers and representatives of different worker’s organizations will be members.
• Within a few hours of its formation the commission held its first meeting also at the Chief Minister’s residence to discuss ways to increase opportunities for workers and labourers in the state.
• Issue of safeguarding the interests of workers and labourers of the state was also discussed.

Extra Shots:

Uttar Pradesh:

• Capital: Lucknow
• Chief Minister: Yogi Adityanath
• Governor: Anandiben Patel
• State formed in: 24 January 1950
• Literacy Rate: 67.68%
• Nation Park: Dudhwa National Park

AHNA in Ahmedabad launches home care initiative for COVID-19 patients

• To ease the burden on COVID Care Centres, Ahmedabad Hospitals and Nursing Homes’ Association, AHNA has launched home care initiative for mild to moderate COVID-19 patients in the city from today.
• Initially seven private hospitals have been included in the programme but the association aims to include 50 hospitals in the coming days.
• President of AHNA Dr Bharat Gadhvi said, 80 to 85 per cent of the patients in the city fall under this category who do not require special medical attention.
• Such patients will be covered under the programme.
• He said, people falling in high risk groups such as pregnant women, senior citizens and patients with comorbidity have not been included in the initiative.
• The current plan includes teleconsultation by physicians, daily tele consultation by a qualified nurse, training on vital handlings, personal visit by a nurse twice in 10 days.
• He said, the cost of the package is 699 rupees per day. However, the hospitals are free to reduce the cost.

Extra Shots:

Gujarat:

• Capital: Gandhinagar
• Chief Minister: Vijay Rupani
• Governor: Acharya Devvrat
• State formed on: 1 May 1960
• Literacy Rate: 79.31%
• National Park: Vansda NP, Blackbuck NP, Gir Forest NP, Marine NP, Gulf of Kutch

KVIC launches project to produce Neera and Palmgur in Maharashtra

• A unique project to produce Neera and Palmgur has been rolled out by the Khadi and Village Industries Commission (KVIC) in Palghar district of Maharashtra.
• The KVIC launched project aims to promoting Neera as a substitute to soft drinks along with generating self-employment opportunities for Adivasis as well as traditional trappers.
• Indian state Maharashtra is home to more than 50 lakh palm trees.
• As a part of project, KVIC distributed tool kits to local artisans for extraction of Neera and making palmgur.
• The tool kit comprised of canteen burners, perforated moulds, food grade stainless steel Kadhai, along with other equipment namely knives, rope and axes.
• Neera is a nutrient-rich health drink consumed in many Indian states, and is extracted from the palm trees before sunrise.

Extra Shots:

KVIC: The Khadi and Village Industries Commission is a statutory body formed in April 1957 by the Government of India, under the Act of Parliament, ‘Khadi and Village Industries Commission Act of 1956’.

• Founded: 1956
• Purpose: To plan, promote, facilitate, organise and assist in the establishment and development of khadi and village industries
• Headquarters: Mumbai
• Agency executive: Vinai Kumar Saxena (Chairperson)
• Parent agency: Ministry of Micro, Small and Medium Enterprises
• Type: Statutory corporation

INTERNATIONAL CURRENT AFFAIRS

PM of Kyrgyzstan Mukhammedkalyi Abylgaziev resigns from post

• Prime Minister of Kyrgyzstan, Mukhammedkalyi Abylgaziev has resigned from the post.
• He resigned due to citing an ongoing criminal investigation into the assignment of national radio frequencies.
• The Kyrgyz parliament raised the issue of the offer of radio frequencies, which was trailed by various representatives requesting Abylgaziev demonstrate his honesty against charges of debasement.
• He was delegated as a leader by President Sooronbai Jeenbekov in April 2018.

Extra Shots:

Kyrgyzstan (Capital/Currency): Bishkek/Kyrgyzstani som

• Prime Minister: Resigned
• Official Languages: Kyrgyz,Russian

WhatsApp launches payments service in Brazil

• WhatsApp has launched its ‘WhatsApp Pay’ in Brazil, two years after it began testing the payments service in India.
• In 2018, the Facebook-owned company had started testing the service in India, which allows users to utilise the messaging platform to send and receive money.
• Brazil is the first country where it is widely rolling out payments in WhatsApp.
• Facebook CEO Mark Zuckerberg said WhatsApp is working with local banks, including Banco do Brasil, Nubank, Sicredi as well as Cielo, the leading payments processor for merchants in Brazil.
• It has built payments with security in mind and a special six digit PIN or fingerprint will be required to prevent unauthorised transactions.
• WhatsApp has about 400 million users in India.
• It has been testing its payments service in India – based on UPI – with about a million users.

Extra Shots:

WhatsApp Messenger, or simply WhatsApp, is an American freeware, cross-platform messaging and Voice over IP service owned by Facebook, Inc. It allows users to send text messages and voice messages, make voice and video calls, and share images, documents, user locations, and other media.

• Initial release date: 3 May 2009
• Developer(s): WhatsApp Inc. (Facebook, Inc.)
• Written in: Erlang
• Owner: Facebook
• Original authors: Brian Acton, Jan Koum

HCL Tech starts operations in Sri Lanka, to create over 1,500 employment opportunities

• IT major HCL Technologies has commenced operations in Sri Lanka, and plans to create over 1,500 local employment opportunities in the next 18 months.
• HCL Technologies plans to create over 1,500 new local employment opportunities for freshers and experienced professionals within the first 18 months of kick-starting its operations from its office in Colombo.
• A key part of HCL’s business and development strategy in Sri Lanka will be to use local talent pool in the country for global assignments
• The company is keen on hiring and engaging with the highly skilled and talented people of Sri Lanka.
• Our delivery centre in Sri Lanka will play an important role to serve our Fortune 500 and Global 2000 clients and partners throughout the globe
• HCL had joined hands with the BOI of Sri Lanka in February this year to launch its local entity — HCL Technologies Lanka (Private) Limited — and set up its first delivery centre in the region.
• Through this entity, HCL will provide services to global clients in the areas of applications and system integration services and infrastructure services.
• HCL will also implement its Work Integrated Education Program to foster growth by actively cooperating with local information and communication technology and engineering institutions to develop and train the local talent pool.
• For freshers, HCL will focus on hiring A Level, Higher National Diploma students through HCL ESOFT Training & Hiring Program

Extra Shots:

HCL Tech:

• CEO: C Vijayakumar
• Founded: 11 August 1976
• Headquarters: Noida
• Founders: Shiv Nadar, Arjun Malhotra
• Parent organization: HCL Enterprise

RANKS AND INDICES

India 9^th largest recipient of FDI in 2019, US Tops: UN Report

• According to the World Investment Report 2020, of UN Conference on Trade and Development (UNCTAD), India emerged as the world’s ninth largest recipient of Foreign Direct Investments (FDI) in the year 2019.
• World Investment Report 2020 is the 30th edition of the annual report.
• The report reveals that India received USD 51 billion (approximately Rs 38.79 crore) in foreign investment in 2019, an increase of 20 percent over the previous year 2018 (USD42 bn).
• In the developing Asia region, India was among the top five host economies for FDI.
• United States is the largest recipient of FDI in 2019 at $246 billion.
• China, Singapore, Netherlands and Ireland are the top 5 largest recipient of FDI in 2019 respectively.
• In 2019, global FDI flows increased marginally by 3 percent, to $1.54 trillion.
• The report has also predicted that the global foreign investment flows (FDI) is likely to plunge by up to 40% in 2020.
• However, FDI is projected to decrease by a further 5% to 10% in 2021 and to initiate a recovery in 2022.

Extra Shots:

UNCTAD:

• Headquarters location: Geneva, Switzerland
• Head: Mukhisa Kituyi
• Founder: United Nations General Assembly
• Founded: 30 December 1964
• Formation: 30 December 1964; 55 years ago
• Parent organizations: United Nations General Assembly, United Nations Secretariat

Institute for Management Development releases World Competitive Index

• The Institute of Management Development recently released the World Competitive Index.
• India ranked 43rd in the ranking.

Highlights

• In 2019, India was at the 43rd ranking.
• Since 1989, India had ranked 41st in the World Competitiveness Ranking. However, it slipped to 45th rank in 2017 and secured 44th in 2018.
• The continuous low ranking of India is mainly due to poor infrastructure and insufficient education investment.
• According to the ranking, India has improved in long term employment growth, foreign currency reserves, overall productivity, education.
• On the other hand, India had declined in taxes, real GDP growth, competition legislation, exchange rate stability.

Other Countries

• Singapore secured the top position in the ranking system.
• Denmark was at the second position, followed by Switzerland, Netherlands, Hong Kong.
• The ranking is created by the business school based in Singapore and Switzerland.
• China slipped from 14th place to 20th and US moved to 10th place.
• Among the BRICS countries, China topped followed by India, Russia, Brazil and South Africa.

GoI Report: Average Temperature in India to raise by 4.4 degree Celsius

• The Ministry of Earth Science recently released its report “Assessment of Climate Change over Indian Region”.
• According to the report, the average surface temperature of India could increase up to 4.4 degree Celsius by the end of 2100 as compared to the temperature between 1976 and 2005.

Climate Forcing

• The report says that with the RCP (Representative Concentration Pathway) increasing to 4.5, the temperature of India could rise to 2.4 degree Celsius.
• The Representative Concentration Pathway calculates Radiative Forcing or Climate Forcing.
• Climate Forcing is the difference between sunlight absorbed by the Earth and the energy that is radiated back from the earth.

Findings of the report

• According to the report, the frequency of warm days and warm nights are to increase by 55% and 70% respectively as compared to 1976-2005.
• The heat waves in the country are expected to increase by 3 to 4 times.
• The average temperature of the country increased by 0.7 degree Celsius as compared to the period between 1900 and 2018.
• The increase in temperature has been largely associated with global warming.
• The report predicts that the average temperature in the Hindukush-Himalayan region could increase by 5.2 degree Celsius.

Extra Shots:

Ministry of Earth Science

• Departments: India Meteorological Department
• Minister responsible: Dr. Harsh Vardhan
• Founded: 2006
• Headquarters: Prithvi Bhavan, Lodi Road New Delhi
• Annual budget: 1,800 crores INR (2018-19 est., US$250 million)
• Officeholders: Y. S. Chowdary (Minister of State), Harsh Vardhan (Minister)

AGREEMENTS AND MOU SIGNED

Maharashtra govt inks MoUs worth Rs 5,000 crore with three Chinese firms

• Three Chinese firms are among the 12 companies from different countries with which the Maharashtra government has signed MoUs collectively worth Rs 16,000 crore.
• The investment of the three Chinese companies is collectively worth over Rs 5,000 crore.
• All the three Chinese companies- Hengli Engineering, PMI Electro Mobility Solutions JV with Photon and Great Wall Motors will invest in Talegaon in Pune district
• Hengli Engineering will invest Rs 250 crore, PMI will invest Rs 1,000 crore in the auto sector
• MoUs were also signed with companies from other countries like the USA, Singapore and South Korea.
• They are from diverse sectors like automobile, logistics, banking, engineering and mobile production

Extra Shots:

Maharashtra:

• Capital: Mumbai
• Chief Minister: Uddhav Thackeray
• Governor: Bhagat Singh Koshyari
• National Parks: Chandoli National Park, Nawegaon National Park, Gugamal National Park, Pench National Park, Sanjay Gandhi (Borivilli) National Park, Tadoba National Park
• Wildlife Sanctuaries: Amba Barwa WLS, Bor WLS, Great Indian Bustard WLS,
• Lonar WLS, Melghat WLS, Gangewadi New Great Indian Bustard WLS, etc.

ACQUISITION & MERGER

Maruti partners with Karur Vysya Bank for flexible financing schemes

• Car market leader Maruti Suzuki India (MSI) has partnered with Karur Vysya Bank to offer simpler and flexible financing schemes for new customers.
• Through the partnership with the bank, the company is seeking to offer prospective buyers special scheme of up to 100 per cent on road funding with six months holiday period on all models, except van EECO), loans for both salaried and self-employed customers and repayment period up to 84 months
• Apart from “attractive rates of interest”, the partnership will offer loans to customers with non-income proof as well
• Karur Vysya Bank offers customers in-principle loan sanction in 15 minutes and existing customer of the bank can get their loans disbursed on the same day with the entire process from application to disbursement of the loan being digitalised with no manual intervention.
• The schemes through the partnership will be available across Maruti Suzuki’s network of 3,086 new car retail outlets across 1,964 cities and towns, along with with 780 branches of Karur Vysya Bank across 22 states across India.

Extra Shots:

Karur Vysya Bank:

• Headquarters: Karur
• Founded: 1916
• CEO: P. R. Seshadri K Venkataraman
• Founders: M. A. Venkatarama Chettiar, Athi Krishna Chettiar
• Tagline: Smart Way to Bank

Maruti Suzuki partners IndusInd Bank for vehicle financing

• Maruti Suzuki India Ltd (MSIL) has partnered IndusInd Bank for vehicle financing to help spur sales after resumption of operations following lockdown relaxations.

Highlights:

• Through the partnership, consumers can avail of low EMI scheme for the first three months starting at Rs 899 per lakh; step-up scheme with EMI starting with Rs 1,800 per lakh; up to 100 per cent on-road funding for customers with valid income proof
• Moreover, customers who do not have valid income proof can avail of up to 100 per cent ex-showroom funding, the statement added. The offers are valid for all Maruti Suzuki models
• IndusInd Bank has offered a variety of finance options including low EMI scheme, step-up and balloon payment options and funding 100 per cent on-road price for the vehicles.
• These special structured schemes like low EMI scheme, balloon and step-up EMI schemes will ease the pressure on immediate cash-flow of consumers.

Extra Shots:

IndusInd Bank

• CEO: Sumant Kathpalia
• Headquarters: Pune
• Owner: Hinduja Group
• Founder: S. P. Hinduja
• Subsidiaries: Indusind Bank Ltd, Asset Management Arm, IndusInd Financial Inclusion, Indusind Bank Limited
• Tagline: We Make You Feel Richer

NATIONAL & INTERNATIONAL  AWARDS

Deccan Development Society wins Prince Albert II of Monaco Foundation Award

• Hyderabad-based Deccan Development Society has won the Prince Albert II of Monaco Foundation Award.
• This honour is one of the most pined for natural honours on the planet for the year 2020.
• The honour was declared by the Prince Albert II of Monaco Foundation Vice President and CEO, Olivier Wenden.
• The honour of 40,000 Euros (roughly Rs 35 lakhs) has been given to the general public.
• This is in acknowledgement of “the people who devote their activities and associations for their profound duty to saving our planet, in every one of the Foundation’s three need zones: Constraining the impacts of environmental change, Saving biodiversity, Overseeing water assets and battling against desertification.
  

  Download Daily Current Affairs 17th June 2020 – Click Here

  For More Daily Current Affairs – Click Here

  Click Here to Join Our What’s App Group & Get Instant Notification on Study Materials & PDFs

  Click Here to Join Our Official Telegram Channel