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Important Current Affairs 15th April 2020

National

Atal Innovation Mission, NITI Aayog & National Informatics Centre (NIC) jointly launches CollabCAD

• The Atal Innovation Mission (AIM), NITI Aayog and National Informatics Centre (NIC) have come together to jointly launch an innovative platform called CollabCAD for ATL schools to enable students create 3D Computer Aided Designs. It will enable students to utilize indigenous, state-of-the-art made-in-India software for 3D modeling/slicing to use 3D printing.

• CollabCAD is a collaborative network, computer enabled software system to provide a total engineering solution ranging from 2D drafting and detailing to 3D product design.

• The initiative will provide a great platform for students of Atal Tinkering Labs (ATLs) across the country to create and modify 3d designs with free flow of creativity and imagination.

Banking and Economy

Global Economy to shrink in 2020, India to grow at 1.9%

• International Monetary Fund (IMF) on April 14 has mentioned that the world economy is expected to shrink by 3.0% in 2020. 

• In its 2020 World Economic Outlook, IMF predicted the partial rebound in 2021 with the world economy growing at a rate of 5.8%. But it mentioned that the predictions are marked with uncertainty.

• While projecting the economic growth of countries, the IMF has forecasted the Indian economy to grow by 1.9% in 2020-2021. Its estimate for India is in the line with forecasts made by other International agencies.

Barclays predicts India’s GDP growth for CY2020 at 0%; For FY21 at 0.8%

• Barclays has predicted the GDP growth for India in Calendar Year 2020 at 0%. It means no economic growth.

• For FY21, Barclays has predicted GDP growth for India at 0.8%.

Appointments and Resignations

Birupaksha Mishra becomes new Executive Director of Union Bank of India

• Birupaksha Mishra becomes new Executive Director of Union Bank of India, after its amalgamation with Corporation Bank and Andhra Bank. Prior to this, Birupaksha Mishra was Executive Director at Corporation Bank.

• He started his banking career as a Probationary Officer in the year 1984. He has worked in various parts of the country and has handled Credit and Credit Monitoring Portfolio of the Bank and headed  IT vertical of the Bank.

Days

First Edition of World Chagas Disease Day Observed on 14 April 2020

• The first-ever World Chagas Disease Day is being held on 14 April 2020 and henceforth, it will be held annually.

• The aim of the day is to raise the visibility and public awareness of people with Chagas Disease (also called American trypanosomiasis) and the resources needed for the prevention, control or elimination of the disease.

• The WHO approved the designation of Chagas Disease Day on May 24, 2019 at the 72nd World Health Assembly.

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Important Current Affairs 1st April 2020

National

GoI extends validity of expired Driving Licences and Vehicle Registration till 30 June

• The Ministry of Road Transport and Highways has announced an extension on the validity of documents like driving licenses, permits and registration that are expired since 1 February.

• The Ministry has directed all states and Union Territories (UT) to treat the documents as valid till 30 June.

Banking and Economy

Mega merger of 10 PSU Banks comes into effect

• The mega merger of 10 PSU banks into 4 comes into effect from April 1, 2020. As per the merger, the Oriental Bank of Commerce and the United Bank of India have now be merged with the Punjab National Bank with the latter being the Head Bank.

• In another merger, Corporation Bank and Andhra Bank are merged into Union Bank of India. The branches of the merged banks will work as the branches of Head or Anchor bank.

As per the consolidation scheme, the details of 10 state-run banks into 4 are mentioned below-

• United Bank of India and Oriental Bank of Commerce will merge into Punjab National Bank

• Syndicate Bank will merge into Canara Bank

• Allahabad Bank into Indian Bank

• Corporation and Andhra Banks will be merged in Union Bank of India

The objective behind the merger:

The major objectives of the merger are:

• To help India make a USD 5 trillion economy

• Reducing the lending cost

• Enhancing the capacity in order to increase credit

• To bring next-generation technology for the banking sector

• Banks that have strong national and international reach

• To improve the ability to raise market resources.

Government cuts Interest Rates on Small Saving Schemes

• The Central Government recently slashed the interest rates on small saving schemes such as PPF for the April-June quarter of 2020-2021.

• The Small Saving Schemes include Public Provident Fund (PPF), Kisan Vikas Patra, Senior Citizen Saving schemes (SCSS) and Sukanya Samriddhi Yojana.

Obituary

Legendary historian Arjun Dev passes away

• The legendary historian and educationist, Professor Arjun Dev passed away. He was born on November 12, 1938, in Leiah, West Punjab (now in Pakistan).

•  He served as a historian at the National Council of Education Research and Training (NCERT).

Days

International Transgender Day of Visibility

• International Transgender Day of Visibility observed globally on 31st March every year.

• The day is dedicated to celebrating transgender people and raising awareness of discrimination faced by transgender people worldwide, as well as a celebration of their contributions to society.

Utkal Divas or Odisha Day is celebrated on 1 April

• Utkal Divas (Odisha Day) is celebrated every year on 1st April all over Odisha. Odisha Day is celebrated in the memory of the formation of the state as a separate province on 1 April 1936.

•  This year marks the 83rd Utkal Divas or the foundation day of Odisha. Odisha was born as a separate state on April 1, 1936, on a linguistic basis.

•  The state was carved out of the combined Bengal-Bihar-Orissa province.

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