Hello and welcome to exampundit. Here are the important Current Affairs Today 28th May 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 – 28th May 2020
NEWS AT A GLANCE
- Every year, May 28 is marked as World Hunger Day.
- According to the Global Economic Outlook, the rating agency Fitch Ratings has slashed India’s GDP growth rate to 5% for the Fiscal Year 2021, citing the slowdown in economic activities and very stringent lockdown policy.
- SBI Research has slashed India’s economic growth forecast in the current fiscal year 2020-21 to contract to 6.8 percent from earlier 4.7 percent.
- S&P Global Ratings has slashed India’s GDP growth rate to 5% in the Fiscal Year 2021.
- The National Highways Authority of India (NHAI) has been penalised with amount of Rs 7 lakh by the Securities and Exchange Board of India (SEBI).
- Central Institute of Plastics Engineering & Technology (CIPET) has been renamed as Central Institute of Petrochemicals Engineering & Technology (CIPET), a premier national institution under the Ministry of Chemicals and Fertilizers, Govt. of India.
- Karnataka government on May 27, 2020 announced that it will be launching a new project to maintain a ‘State Health Register’ comprising the database of all its citizens.
- Uttar Pradesh government will develop 800 km roads as Herbal roads in the state.
- Industry and the economy are being hit by the increasing coronavirus (COVID-19) impact in Tamil Nadu (TN) & in the meantime, the state Government is taking various measures to restore the industry which has been hit by the virus.
- The European Union (EU) Commission has proposed a 750 billion-euro ($825 billion) recovery fund “European breakthrough” to help the bloc’s economy through the deep recession induced by the COVID-19 pandemic.
- Under its Perspective Aviation Complex for Long Range Aviation (PAKDA) programme, Russia has constructed its first Stealth Bomber.
- US Space agency NASA has announced to name its next-generation space telescop, the Wide Field Infrared Survey Telescope (WFIRST), currently under development, in honor of Nancy Grace Roman, NASA’s first chief astronomer, who paved the way for space telescopes focused on the broader universe.
- World Health Organization (WHO) on May 27 announced the creation of the WHO foundation to support critical health needs.
- Saudi Arabia has decided to extend tourist visas, which expired during the lockdown, automatically for a period of three months.
- Finance Minister Nirmala Sitaraman attended the Special Board of Governors meet of New Development bank through video conference.
- Ministry of Tourism, Government of India’s Dekho Apna Desh Webinar Series titled , “Culture & Tourism- Two sides of Goan economy on 26th May 2020 presented the Culture, history , heritage and architectural marvel that India’s most popular tourist destination ‘Goa’ offers thus bringing the participants face to face with the lesser known places, history, architecture, Culture and heritage waiting to be explored by the tourists.
- The 22nd meeting of Financial Stability and Development Council (FSDC) through video conferencing is underway in New Delhi.
- The World Gold Council released its report on Retail Gold Insights: India Jewellery Report.
- India’s leading web-based business commercial centre Flipkart has signed a Memorandum of Understanding (MoU) with Karnataka State Mango Department and Marketing Corporation, to empower mango farmers to sell their produce online.
- The Power Finance Corporation (PFC), a central PSU under Ministry of Power and India’s leading NBFC has entered into an agreement with Narmada Basin Projects Company Ltd. (NBPCL), a wholly-owned company of Govt. of Madhya Pradesh, to fund projects worth Rs.22,000 crore for 225 MW hydro-electric projects & multipurpose projects in Madhya Pradesh.
- The Asian Development Bank (ADB) and the Government of India today signed a 177 million dollar loan to upgrade 450 kilometers of state highways and major district roads in Maharashtra.
- Coca-Cola in India has partnered with United Way Mumbai to augment healthcare initiatives in 48 public hospitals across eight states in the country.
- ITC Limited entered into a Share Purchase Agreement(SPA) to acquire 100% of the equity share capital of Sunrise Foods Private Ltd(SFPL), which is primarily engaged in spices under the trademark ‘Sunrise’.
- Ola Electric acquired the Netherlands-based Etergo BV, an innovative electric scooter company for an undisclosed sum, as the former has planned to set its own line of premium electric two-wheelers, both globally and nationally.
- Taiwan President Tsai Ing-wen has won the country’s 2020 Presidential election for the second straight year.
- Marcos Troyjo from Brazil has been elected as next President of NDB.Anil Kishora from India has been elected as next Vice President and CRO of the NDB.
- New India Assurance, General Manager, SN Rajeswari, has been selected as the Chairman and MD of the Oriental Insurance Company (OIC) by Banks Board Bureau (BBB).
- Sri Lankan fast bowler, Shehan Madushanka has been suspended from all forms of cricket with immediate effect for alleged possession of heroin.
- Indian Institute of Technology Madras (IITM), partnered with the University of North Texas and United States Army lab, have developed a magnesium alloy to replace the steel and aluminium in the automobile industry to reduce the carbon footprint and increase fuel efficiency.
- Indian Institute of Technology Mandi researchers have developed two low-cost portable ventilators.
- The Computer Applications Department of the National Institute of Technogy (NIT), Trichy has organised a series of web based Online Teaching Strategies workshops.
- VIBGYOR High – Marathahalli has taken the lead with one of its students innovating a contactless hand sanitiser in the times of ongoing COVID-19 pandemic.
- The National Payment Corporation of India launched Artificial Intelligence based chatbot called Pai. The Chatbot aims to increase financial inclusion in India.
- Reliance Industries Ltd (RIL) has launched a “WhatsApp chatbot” to address rights issue queries of its 2.6 million shareholders on the offering.
- Former Tamil Nadu footballer and coach R. Shanmugam passed away.
- Celebrated Urdu author, humorist and satirist Mujtaba Hussain has passed away after a prolonged illness.
NEWS IN DETAILS
IMPORTANT DAYS AND THEMES
May 28 observed as World Hunger Day
- Every year, May 28 is marked as World Hunger Day.
- The World Hunger Day is an initiative of the Hunger Project.
- In order to eliminate hunger, the Sustainable Development Goal of “Zero Hunger” was included
- May 28th 2020 is the 10th Annual World Hunger Day created by The Hunger Project to bring awareness to the more than 820 million people living in chronic hunger during an unprecedented global crisis
Significance
- The United Nations aims to increase agricultural productivity.
- This is to feed 820 million people that are with inadequate food security.
- The UN predicts that 2 billion are to come under poverty and face hunger by 2050.
Extra Shots:
UN: The United Nations is an intergovernmental organization that aims to maintain international peace and security, develop friendly relations among nations, achieve international cooperation, and be a center for harmonizing the actions of nations.
- Headquarters: New York, New York, United States
- Founded: 24 October 1945, San Francisco, California, United States
- Official languages: Arabic; Chinese; English; French; Russian; Spanish;
- Secretary general: António Guterres
BUSINESS & ECONOMY
Fitch forecasts India’s GDP growth rate to contract 5% in FY21
- Rating agency Fitch Ratings has released its latest Global Economic Outlook (GEO).
- In its Global Economic Outlook, the rating agency has forecasted the GDP growth rate of the world and individual countries.
- According to the Global Economic Outlook, the rating agency Fitch Ratings has slashed India’s GDP growth rate to 5% for the Fiscal Year 2021, citing the slowdown in economic activities and very stringent lockdown policy.
- While the Global GDP growth rate has been forecasted to fall by 4.6% in 2020.
Extra Shots:
Fitch:
- Headquarters: New York, New York, United States
- CEO: Paul Taylor
- Founder: John Knowles Fitch
- Founded: 1914, New York, New York, United States
SBI Research Downgrades India’s GDP at -6.8% for FY21
- SBI Research has slashed India’s economic growth forecast in the current fiscal year 2020-21 to contract to 6.8 percent from earlier 4.7 percent.
- This means, as per SBI Research Report, India’s GDP is estimated at -6.8% in FY21.
Extra Shots:
SBI:
- Headquarters: Mumbai, Maharashtra
- Chairman: Rajnish Kumar
S&P forecasts Indian economy to contract 5% in FY21
- S&P Global Ratings has slashed India’s GDP growth rate to 5% in the Fiscal Year 2021.
- The reduction in the growth rates has been made due to slump in the economic activities in the whole country amid lockdown imposed to contain Covid-19 pandemic.
- S&P Global Ratings stated that two months of lockdown have led to a sudden stop in the economy which has led to contaraction in the GDP growth rates of the present fiscal year.
Extra Shots:
S&P Global Ratings:
- Headquarters: New York, New York, United States
- Parent organization: S&P Global
- Founder: Henry Varnum Poor
- Founded: 1860
SEBI imposes penalty of Rs 7 lakh on NHAI
- The National Highways Authority of India (NHAI) has been penalised with amount of Rs 7 lakh by the Securities and Exchange Board of India (SEBI).
- SEBI has imposed the penalty on NHAI for delay in disclosing half yearly financial results between FY16 and FY19.
- The penalty has been imposed on the basis of SEBI’s listing obligation and disclosure norms (LODR) according to which half yearly results have to be filed within 45 days from the end of the half year.
- The National Highways Authority of India (NHAI) delayed in disclosing half yearly financial results ranging from 4 days to 78 days.
Extra Shots:
SEBI:
- Founded: 12 April 1992
- Sector: Securities market
- Jurisdiction: India
- Headquarters: Mumbai
- Type: Statutory corporation
- Chairperson: Ajay Tyagi
NHAI
- Founded: 1988
- Sector: Indian National Highway System
- Purpose: Development and maintenance of national highways
- Jurisdiction: India
- Headquarters: New Delhi
- Agency executive: Sanjeev Ranjan (Chairperson)
NATIONAL CURRENT AFFAIRS
#CIPET renamed as Central Institute of Petrochemicals Engineering &Technology
- Central Institute of Plastics Engineering & Technology (CIPET) has been renamed as Central Institute of Petrochemicals Engineering & Technology (CIPET), a premier national institution under the Ministry of Chemicals and Fertilizers, Govt. of India.
- Now CIPET will be in a position to fully devote itself for the growth of entire petrochemical sector with a focus on Academics, Skilling, Technology Support and Research.
- The primary objective of CIPET has been contributing towards the growth of the plastics industry through a combined program of education and research.
- The Institute has evolved through the years, creating closer ties with industries with the intent to create innovative plastic based solutions which are resource efficient and marketable.
Extra Shots:
CIPET:
- Founded: 1968
STATE CURRENT AFFAIRS
Karnataka to launch ‘State Health Register’ of all citizens
- Karnataka government on May 27, 2020 announced that it will be launching a new project to maintain a ‘State Health Register’ comprising the database of all its citizens.
- The health register, first-of-its-kind, will be a robust and standardized health repository of all the citizens of the state.
- Elaborating on the same, Karnataka’s Medical Education Minister K Sudhakar stated that the COVID-19 experience has demonstrated the need to maintain a robust, real-time repository of health data of each and every citizen.
- The project will be first launched in Chikkaballapur district of Karnataka on an experimental basis.
Objective:
- The Karnataka State Health Register is a futuristic project which has been undertaken keeping the interest of the citizens as the top priority. The project will include 50 percent partnership by private hospitals.
Highlights:
- Under the project, the state government will undertake the survey of all 6.5 crore people in the state.
- The survey will be conducted by a team of primary health centre officials, education department staff, ASHA workers and revenue officials.
- The officials will be visiting each and every household to collect the health data of all members of the family.
- The data will not only help the state government provide better health care, but it will also help in an efficient resource management, allocation and better implementation of various citizen-centric schemes in the state.
- The collected data will help the state government healthcare based on geography, demography and other targeted measures.
ExtraShots:
Karnataka:
- Capital: Bengaluru
- Chief Minister: B. S. Yediyurappa
- Governor: Vajubhai Vala
- National Park: Anshi NP, Bandipur NP, Bannerghatta NP, Kudremukh NP, Rajiv Gandhi (Nagarahole) NP.
Uttar Pradesh govt to develop 800 km roads as Herbal roads
- Uttar Pradesh government will develop 800 km roads as Herbal roads in the state.
- These herbal roads will have medicinal and herbal trees on both sides.
- Deputy Chief Minister and state PWD minister of state Keshav Prasad Maurya told AIR that these herbal roads will have trees like like Peepal, Neem, Sehjan along with other herb varieties like brahmi, ashvagandha and jatrofa.
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
Tamil Nadu govt inks 17 investment MoUs worth Rs15,128 cr with corporate
- Industry and the economy are being hit by the increasing coronavirus (COVID-19) impact in Tamil Nadu (TN) & in the meantime, the state Government is taking various measures to restore the industry which has been hit by the virus.
- As part of this, the state government has inked 17 memorandum of understandings (MOUs) worth Rs15,128 crore with various companies based in Germany, Finland, Taiwan, China, France, South Korea, Japan, USA, Australia, England and Netherlands, with the aim to provide employment opportunities to 47,150 people.
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.
INTERNATIONAL CURRENT AFFAIRS
EU proposes 750 billion-euro coronavirus recovery fund
- The European Union (EU) Commission has proposed a 750 billion-euro ($825 billion) recovery fund “European breakthrough” to help the bloc’s economy through the deep recession induced by the COVID-19 pandemic.
- It was announced by the commissioner Paolo Gentiloni. The aim is to tackle an unprecedented crisis.
Highlights:
- The move comes as the EU plans to enter its deepest-ever recession as the impact from the COVID-19 pandemic ravages economies.
- The plan comes following big pressure from Italy and Spain.
- If EU member states accept the deal as drafted, Italy would receive €81.8 billion, over the next three years, and Spain would receive €77.3 billion.
- Germany would receive €28.8 billion and France would receive €38.7 billion.
- The fund will be linked to the EU’s long term budget for 2021 to 2027.
Extra Shots:
EU:
- Headquarters: Brussels, Belgium
- Founded: 1 November 1993, Maastricht, Netherlands
- Founders: Germany, Italy, France, Netherlands, Belgium, Luxembourg
Russia constructs its first Stealth Bomber
- Under its Perspective Aviation Complex for Long Range Aviation (PAKDA) programme, Russia has constructed its first Stealth Bomber.
- Russia is currently modernizing its military at a very fast pace.
- The Stealth Bomber is one such advancement. The bomber is the second-generation combat aircraft after Sukhoi Su-57 supersonic fighter jet
PAKDA
- The Stealth Bomber has been developed under PAKDA programme.
- The PAKDA programme is to use latest technologies to reduce its radar signature.
- This will make Russian weapons and bombers invisible to enemies.
- The first test flight of PAKDA bomber is to be conducted in 2021-22. India is one of the largest Defence Partners of Russia
Extra Shots:
Russia (Capital/Currency): Moscow/Ruble
- Prime Minister: Dmitry Medvedev
- President: Vladimir Putin
- Official Languages: Russian
WFIRST Telescope of NASA renamed after ‘Mother of Hubble’ Nancy Grace Roman
- US Space agency NASA has announced to name its next-generation space telescop, the Wide Field Infrared Survey Telescope (WFIRST), currently under development, in honor of Nancy Grace Roman, NASA’s first chief astronomer, who paved the way for space telescopes focused on the broader universe.
- The WFIRST Telescope will now be called Nancy Grace Roman Space Telescope (or Roman Space Telescope, for short). It is set to be launched in the mid-2020s.
- Nancy Roman is considered as the Mother of NASA’s Hubble Space Telescope, which was launched 30 years ago.
- It was because of Nancy Grace Roman’s leadership and vision that NASA became a pioneer in astrophysics and launched Hubble, the world’s most powerful and productive space telescope
- The Roman Space Telescope will investigate long-standing astronomical mysteries, such as the force behind the universe’s expansion, and search for distant planets beyond our solar system.
- It will be the successor to NASA’s Hubble and Webb Telescopes.
Extra Shots:
NASA:
- Headquarters: Washington, D.C., United States
- Founder: Dwight D. Eisenhower
- Founded: 29 July 1958, United States
- Administered by: Jim Bridenstine
WHO launches foundation to support the critical health needs
- World Health Organization (WHO) on May 27 announced the creation of the WHO foundation to support critical health needs.
- It is an independent grant-making entity that aims at supporting the efforts of WHO to address the global health challenges.
- WHO Director-General, Tedros Adhanom Ghebreyesus, during a virtual press conference in Geneva informed that idea for the establishment of WHO foundation goes back to February 2018 and it gives enormous pleasure to launch it officially.
- As per the Director-General, to fulfill the mandate and mission of WHO, the donor base needs to be broadened as well as the quantity and quality of funding received by WHO must be improved.
Extra Shots:
WHO:
- Headquarters: Geneva, Switzerland
- Founded: 7 April 1948
- Parent organization: United Nations Economic and Social Council
- Heads: Tedros Adhanom, Soumya Swaminathan, Jane Ellison, Peter Salama
Saudi Arabia extends tourist visas for a period of three months
- Saudi Arabia has decided to extend tourist visas, which expired during the lockdown, automatically for a period of three months.
- It will be extended automatically through the system for three months without the need for the visa holder to visit the passport department in person.
- This will be done free of charge.
- Saudi Arabia has also announced lifting of restrictions in the coming days. Restrictions in place to control the spread of coronavirus, including bans on domestic travel, holding prayers in mosques, and workplace attendance in both government and private sector are likely to be relaxed from today.
Extra Shots:
Saudi Arabia (Capital/Currency): Riyadh/ Saudi riyal (SR)
- King: Salman
- Crown Prince: Mohammad bin Salman
- Official Languages: Arabic
SUMMITS AND CONFERENCES
India attends New Development Bank Governors meet
- Finance Minister Nirmala Sitaraman attended the Special Board of Governors meet of New Development bank through video conference.
- The leaders that attended the meet elected the president, vice president of new development bank.
- The bank has so far approved 16.6 billion USD to to over 55 projects in its member countries. Mr Marcos Troyjo of Brazil was elected as the president at the meet.
- The 5th annual meet of board of governors of the New Development Bank was held in April 2020.
- During the meet, the bank allocated 5 billion USD to BRICS countries and 1 billion USD of emergency funds to India.
Extra Shots:
NDB:
- Headquarters location: Shanghai, China
- President: K. V. Kamath
- Founder: BRICS
- Founded: 15 July 2014, Fortaleza, State of Ceará, Brazil
- Abbreviation: NDB, or NDB BRICS
- First president: K. V. Kamath
Ministry of Tourism holds its 24th webinar titled ‘Culture & Tourism- Two sides of Goan economy’ under Dekho Apna Desh Series
- Ministry of Tourism, Government of India’s Dekho Apna Desh Webinar Series titled , “Culture & Tourism- Two sides of Goan economy on 26th May 2020 presented the Culture, history , heritage and architectural marvel that India’s most popular tourist destination ‘Goa’ offers thus bringing the participants face to face with the lesser known places, history, architecture, Culture and heritage waiting to be explored by the tourists.
- The webinar showcased the richness of Goa that extends back through centuries of profound history and cultural exchange and creativity which is beyond the famous beaches and nightlife.
- The Deko Apna Desh Webinar series is presented by Ministry of Tourism with active technical support from National e-Governance Division (NeGD) created by the Ministry of Electronics & Information Technology (MeitY) for effective citizen engagement and communication with all stakeholders using the digital experience platform.
- The sessions of webinars are now available on the https://www.youtube.com/channel/UCbzIbBmMvtvH7d6Zo_ZEHDA/featured and also on all social media handles of Ministry of Tourism, Government of India.
Extra Shots:
The Ministry of Tourism, a branch of the Government of India, is the apex body for formulation and administration of the rules, regulations and laws relating to the development and promotion of tourism in India.
- Officeholder: Prahlad Singh Patel (MOS independent charge)
- Founded: 1967
- Headquarters: New Delhi
- Jurisdiction: India
- Annual budget: 2,150 crores INR (2018–19 est., US$300 million)
- Minister responsible: Prahlad Singh Patel, Minister of State (Independent charge)
22nd FSDC meeting through video conferencing underway in New Delhi
- The 22nd meeting of Financial Stability and Development Council (FSDC) through video conferencing is underway in New Delhi.
- The meeting chaired by Finance Minister Nirmala Sitharaman is reviewing the measures to maintain financial stability in the context of COVID-19 pandemic.
RANKS AND INDICES
World Gold Council Report: 37% of Indian Women never bought gold
- The World Gold Council released its report on Retail Gold Insights: India Jewellery Report.
- According to the report, around 37% of Indian women never bought jewellery.
Highlights
- The report says that gold jewellery was the second most popular item among “Fashion and Lifestyle” shoppers next to clothes and silk sarees. Around 60% of Indian women already owned jewellery.
- The 37% of Indian women that do not buy gold are now being seen as new target by the gold industry. Of these, 44% of the women are from rural areas and 30% are from urban.
- According to the World Gold Council, the current young Indian women show least interest towards gold ornaments.
- Only 33% of women in the age group 18-24 bought gold jewellery. Their future purchase intent is low. This is a great threat to the gold market. India is one of the largest gold market in the world and decrease in gold purchase in the country will affet gold industry badly.
Extra Shots:
World Gold Council
- Headquarters: London, United Kingdom
- President: David Harquail
- Founded: 1987
- CEO: David Tait
- Subsidiaries: World Gold Council USA Inc, World Gold Council, Research Division
AGREEMENTS AND MOU SIGNED
Flipkart signs MoU with Karnataka Mango Board to support mango farmers
- India’s leading web-based business commercial centre Flipkart has signed a Memorandum of Understanding (MoU) with Karnataka State Mango Department and Marketing Corporation, to empower mango farmers to sell their produce online.
Highlights:
- This association will give farmers the genuinely necessary market access to shoppers, making a potential income stream during these testing times of coronavirus.
- As a part of the MoU, Flipkart will give its marketplace platform to the Mango Board farmer producer associations/venders, cultivators and dealers by selecting them on the platform.
- Flipkart has collaborated with different Fast-moving consumer goods (FMCG) and retail organizations to welcome a more extensive scope of essentials on its platform.
- With this association, the organization invasions into the farmer producer organisation’s community further adding to supporting the jobs of mango producers and the farmer community.
Extra Shots:
Flipkart
- Headquarter: Bangalore, Karnataka
- CEO: Kalyan Krishnamurthy
Power Finance Corporation inks MoU with NBPCL to fund projects worth Rs 22,000 crore for 225 MW hydro-electric projects & Multipurpose projects in Madhya Pradesh
- The Power Finance Corporation (PFC), a central PSU under Ministry of Power and India’s leading NBFC has entered into an agreement with Narmada Basin Projects Company Ltd. (NBPCL), a wholly-owned company of Govt. of Madhya Pradesh, to fund projects worth Rs.22,000 crore for 225 MW hydro-electric projects & multipurpose projects in Madhya Pradesh.
- The funds will be used for setting up hydroelectric projects of 225 MW and power components of 12 major multipurpose projects in the state.
- Some of the major multipurpose projects to be financed under the MoU are Basaniya Multipurpose Project Dindori, Chinki Boras Multipurpose Project Narsinghpur Raisen Hoshangabad, Sakkar Pench Link Narsinghpur Chhindwara, Dudhi Project Chhindwara Hoshangabad, etc.
Extra Shots:
Power Finance Corporation
- Headquarters: New Delhi
- Owner: Government of India
- CMD: Rajeev Sharma
ADB, GoI sign 177 million loan to upgrade major roads, highways in Maharashtra
- The Asian Development Bank (ADB) and the Government of India today signed a 177 million dollar loan to upgrade 450 kilometers of state highways and major district roads in Maharashtra.
- Overall the project will upgrade two major district roads and 11 state highways, with combined length of 450 km, to two-lane standard across seven districts of Maharashtra, and improve connectivity to national highways, interstate roads, seaports, airports, rail hubs, district headquarters, industrial areas, enterprise clusters and agricultural areas.
- It will also focus on training the Maharashtra Public Works Department project staff to build their capacity in climate change adaptation and disaster resilient features in road design, road maintenance planning and road safety.
Extra Shots:
ADB:
- Headquarters: Mandaluyong, Philippines
- President: Masatsugu Asakawa
- Founded: 19 December 1966
- Purpose: Economic development
- Motto: ADB is committed to achieving a prosperous, inclusive, resilient and sustainable Asia & the Pacific, while sustaining its efforts to eradicate extreme poverty.
Coca-Cola partners with United Way Mumbai to provide PPE and hygiene aid kits to the frontline warriors
- Coca-Cola in India has partnered with United Way Mumbai to augment healthcare initiatives in 48 public hospitals across eight states in the country.
- Apart from large-scale support to public hospitals and healthcare workers, the partnership has also committed to serving 65000+ public service personnel such as sanitation workers, police staff and community health workers across the nation.
- This initiative is a part of Coca-Cola’s commitment of INR 100 crores towards helping the healthcare system and communities to combat the crisis and contain the spread of the pandemic.
Extra Shots:
Coca-Cola:
- CEO: James Quincey
- Founder: Asa Griggs Candler
- Founded: 29 January 1892, Atlanta, Georgia, United States
- Headquarters: Atlanta, Georgia, United States
ACQUISITION & MERGER
ITC to acquire 100% equity of Sunrise Foods by share purchase agreement
- ITC Limited entered into a Share Purchase Agreement(SPA) to acquire 100% of the equity share capital of Sunrise Foods Private Ltd(SFPL), which is primarily engaged in spices under the trademark ‘Sunrise’.
- The value of the deal is not disclosed but expects to be around Rs 1,800 crores to Rs 2,000 crores.
Highlights:
- The acquisition will help increase penetration of the Sunrise brand across the country & leverage ITC’s position in the country’s Fast-Moving Consumer Goods (FMCG) market.
- The acquisition is subject to fulfilment of various terms and conditions as specified in the SPA.
Extra Shots:
SFPL(Sunrise):
- Headquarters: Kolkata, West Bengal
ITC:
- Registered Office: Kolkata, West Bengal
- CMD: Sanjiv Puri
Ola Electric acquires AppScooter maker Etergo, to launch 2-wheeler EV in 2021
- Ola Electric acquired the Netherlands-based Etergo BV, an innovative electric scooter company for an undisclosed sum, as the former has planned to set its own line of premium electric two-wheelers, both globally and nationally.
Highlights:
- Ola electric will launch its global electric two-wheeler in India in 2021.
- It aims to build a suite of electric and smart urban mobility solutions for citizens with a focus on two and three wheelers.
- Etergo BV has developed an all-electric state-of-the-art AppScooter, which has won multiple awards across the world for its innovative design and engineering.
- It uses a swappable, high energy battery that delivers a range of up to 240 km (149 miles).
- Ola Electric is working with India’s leading power distribution companies for developing a conducive Electric Vehicle (EV) ecosystem through the establishment of battery swapping and charging stations in New Delhi which will further extend across the country.
- It should be noted that in 2019, Ola electric gained the unicorn status. A unicorn is a privately held startup company valued at over $1 billion.
Extra Shots:
Ola Electric:
- Chairman: Bhavish Aggarwal
- Headquarter: Bengaluru, Karnataka
Etergo BV:
- Co-founder and CEO: Bart Jacobsz Rosier
- Headquarter: Amsterdam, Netherlands
APPOINTMENT IN NEWS
Taiwan President Tsai Ing-wen Takes Oath for Her Second Four-year Term
- Taiwan President Tsai Ing-wen has won the country’s 2020 Presidential election for the second straight year.
- The 63-year-old President Tsai took the oath for her second four-year term on 20 May 2020.
- She is from the Democratic Progressive Party.
- Tsai won the election with majority vote of 74.9%, the highest among nationwide elections since 2008 as well as the highest vote share won by a DPP candidate in presidential elections ever.
Extra Shots:
Taiwan (Capital/Currency): Taipei/New Taiwan dollar
- President: Tsai Ing-wen
- Official Languages: Mandarin Chinese
Marcos Troyjo elected as next President of NDB
- Marcos Troyjo has been elected as next President of New Development Bank (NDB).
- He was unanimously elected during the Special Board of Governors meeting of the NDB which was held through the video-conference.
- He will be taking charge as the President of NDB from July 7, 2020.
- India was represented by the Union Minister of Finance & Corporate Affairs Nirmala Sitharaman in the video-conference.
NOTE:
- Marcos Troyjo from Brazil has been elected as next President of NDB.
- Anil Kishora from India has been elected as next Vice President and CRO of the NDB.
Extra Shots:
NDB:
- Headquarters location: Shanghai, China
- President: K. V. Kamath
- Founder: BRICS
- Founded: 15 July 2014, Fortaleza, State of Ceará, Brazil
- Abbreviation: NDB, or NDB BRICS
- First president: K. V. Kamath
SN Rajeswari becomes new CMD of Oriental Insurance Company
- New India Assurance, General Manager, SN Rajeswari, has been selected as the Chairman and MD of the Oriental Insurance Company (OIC) by Banks Board Bureau (BBB). She will replace AV Girija Kumar, who retiring this month end after reaching 60.
- BBB had conducted virtual interviews of five senior general managers of the public sector general insurance industry, with two years of residual services untill May 2022,to select a CMD of OIC.
- Rajeswari is a qualified charted accountant and currently the second senior-most GM of the public sector general insurance industry and would be retiring in May 2022.
- She had started her career as an insurer with the Chennai base United India Insurance(UII) and was later shifted to NIA as a deputy general manager(DGM).
Extra Shots:
Oriental Insurance Company
- Headquarters location: New Delhi
- Owner: Government of India
- Founded: 12 September 1947
- Number of employees: 15,000
- CMD: A V Girija Kumar
- Subsidiary: The Oriental Insurance Company Limited, Asset Management Arm
SPORT CURRENT AFFAIRS
Sri Lanka’s Shehan Madushanka suspended after heroin arrest
- Sri Lankan fast bowler, Shehan Madushanka has been suspended from all forms of cricket with immediate effect for alleged possession of heroin.
- The decision to suspend will stand until the board conducts a full inquiry of the matter.
- Madushanka took a hat-trick against Bangladesh on his one-day international debut in January 2018.
- He also played two T20 matches against Bangladesh in 2018 but has not played an international since due to injuries.
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Sri Lanka(Capital/Currency): Colombo, Sri Jayawardenepura Kotte/ Sri Lankan rupee
- President: Gotabaya Rajapaksa
- Official Languages: Sinhala and Tamil.
SCIENCE & TECHNOLOGY
IIT Madras creates light-weight alloy to replace steel, aluminium in cars
- Indian Institute of Technology Madras (IITM), partnered with the University of North Texas and United States Army lab, have developed a magnesium alloy to replace the steel and aluminium in the automobile industry to reduce the carbon footprint and increase fuel efficiency.
Highlights:
- There has been an excellent deal of specialising in lowering the carbon footprint of vehicles by using light-weight material in their bodies.
- Lighter vehicles consume less fuel to run and are therefore play a strategic role in increasing energy-efficiency.
- Vehicular emissions alone contribute 27 per cent of total CO2 emissions currently.
- One of the lightest and energy-efficient structural materials, magnesium alloys are potential candidates to exchange steel and aluminium alloys in automotive and aerospace components since their density is two-thirds of aluminium and one-quarter of steel.
IIT Mandi Researchers Develop Low-cost Portable Ventilators
- Indian Institute of Technology Mandi researchers have developed two low-cost portable ventilators.
Highlights:
- The developed prototypes are easy to use and can be taken to remote locations in case of a medical emergency.
- The developed prototype is a mechanised Artificial Manual Breathing Unit (AMBU) bag with options to control breath rate and volume of air going into the patient’s lungs.
- The unique feature of the developed product is, apart from manual operation, it can be controlled by a mobile application over wifi as well.
- For the same, the smartphone application, ‘IIT Mandi Ventilator’ has been developed at IIT Mandi.
- This mobile application can start-stop the ventilator and change the Breath/ Minute (BPM) rate.
- The designed prototype uses a slider-crank mechanism to pump air and is easy to manufacture, assemble and operate.
- Designed especially for COVID-19 pandemic, this low-cost ventilator can be operated manually as well as using a smartphone app connected over Wifi.
- It can offer some protection to our medical staff, who can operate the ventilator remotely.
- This low-cost ventilator can be operated manually as well as using a smartphone app connected over Wifi.
- It can offer some protection to our medical staff, who can operate the ventilator remotely.”
- There is also an emergency switch on the ventilator and the mobile application that stops the ventilator and alarms in case of any malfunction.
NIT Trichy organises series of web based Online Teaching Strategies workshops
- The Computer Applications Department of the National Institute of Technogy (NIT), Trichy has organised a series of web based Online Teaching Strategies workshops.
- The first of this series is being attended by 50 women faculty of the Maharani Lakshmi Ammanni College for Women, Bangalore.
- The course objectives include learning methods for virtual classrooms, wide spread use of Video conferencing techniques for teaching etc.
- The course uses free or open source tools and provides hands-on training in the software for the participants.
- It is part of a series of training workshops for facilitating faculty of self-financing institutions across India to seamlessly transform into virtual classrooms.
VIBGYOR’s student innovator develops contactless sanitiser in the times of COVID-19
- VIBGYOR High – Marathahalli has taken the lead with one of its students innovating a contactless hand sanitiser in the times of ongoing COVID-19 pandemic.
- VIBGYOR Group of Schools, a leading chain of K-12 schools, has been at the forefront during the lockdown with students across schools taking part in innovative and creative tasks by investing in their talents across their 39 schools across India.
- VIBGYOR’s vision has always been to nurture young minds by giving them an environment where they can grow intellectually, artistically, and morally.
- Nishaad Chachra of Grade 8, developed an automatic and completely contactless hand sanitiser which can be used across airports, railway stations, educational, government institutions and office spaces, keeping in mind Government of India’s social distancing norms amidst COVID-19 pandemic, which has brought India to a standstill.
WEBPORTALS & APPS IN NEWS
NPCI launched Pai: An Artificial Intelligence Virtual Assistant
- The National Payment Corporation of India launched Artificial Intelligence based chatbot called Pai. The Chatbot aims to increase financial inclusion in India.
Highlights:
- The PAI can be accessed 24/7.
- It provides information about NPCI products.
- The queries can be sent by the users through text or voice.
- In order to send queries, the users shall use websites of RuPay, NPCI and UPI. Currently, PAI is available in English and Hindi languages.
- It is to be launched soon in other languages as well.
- The AI based chatbot was created by Bengaluru based startup CoRover Private Limited.
Services
The Services provided by NPCI are as follows:
- Bharat Bill Payment System: It is a one-stop bill payment system.
- BharatQR: It is a code developed for ease of payments and interoperability.
- BHIM: A mobile application for unified payment interface
- Cheque Truncation System
- IMPS (Immediate Payment Service): A real time inter bank payment system
- National Common Mobility Card
- FASTag
- RuPay
- Unified Payment Interface
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NPCI:
- Headquarters location: Mumbai
- Founded: 2008
- Type of business: Section 8 Company
- Founders: Reserve Bank of India, Indian Banks’ Association
RIL rolls out WhatsApp chatbot to address rights issue queries
- Reliance Industries Ltd (RIL) has launched a “WhatsApp chatbot” to address rights issue queries of its 2.6 million shareholders on the offering.
- With a task of executing massive Rs 53,125 crore rights issue amid a nationwide lockdown, RIL has turned to WhatsApp Chatbot which has been developed by Jio Haptik Technologies.
- This chatbot is the first one which has been rolled out for a public offering and is available on WhatsApp.
- As with the lockdown it would have been difficult to manage sufficient call centre service, this chatbot will address the queries of the shareholders such as: important dates related to its rights issue, rights entitlement a shareholder is eligible for, how to trade their rights entitlement, and what to do if one has physical shares and sample forms, etc
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RIL:
- Headquarters: Mumbai,Maharashtra
- CEO:Mukesh Ambani
OBITUARY
Former Tamil Nadu footballer Shanmugam passes away
- Former Tamil Nadu footballer and coach R. Shanmugam passed away.
- Shanmugam, who was born in Burma in 1943, represented the Burmese junior and senior national teams in 1966-67.
- Shanmugam played for Mohun Bagan in 1968, Indian Railways in the 1969 Nowgong senior Nationals, Tamil Nadu in the 1970 Jalandhar & ’71 Chennai senior Nationals. He’s played for the Integral Coach Factory (ICF) from 1969-77 in the top-tier of the Chennai Football Association (CFA) league.
Noted Urdu Writer and Satirist Mujtaba Hussain passes away at 84
- Celebrated Urdu author, humorist and satirist Mujtaba Hussain has passed away after a prolonged illness. He was 84.
- He was awarded the Padma Shri, the country’s fourth-highest civilian award, in 2007.
- Hussain was described as the Mark Twain of Urdu.
