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Important Current Affairs 31st May 2020

National

MP govt starts ‘RozgarSetu’ scheme for skilled workers

• Madhya Pradesh Chief Minister Shivraj Singh Chouhan has launched a scheme ‘RozgarSetu’ for skilled workers who have returned from other states.

• As per the state government, Madhya Pradesh is the first to devise such a work plan, to provide work to the maximum number of returned skilled workers.

• The State government will act as a setu [bridge] between workers and employers so that both are benefited.

• The scheme will provide a platform to the workers and connect them with those needing them, thus fulfilling the manpower requirement of industries as well as provide employment to workers.

International

US joins G7 Group’s Partnership on Artificial Intelligence to counter China

• United States has finally joined the rest of the G7 countries in the Global Partnership on Artificial Intelligence (AI), in an effort to contain China‘s influence on AI.

• The Trump administration had been the only nation among leaders of the Group of Seven which was not the part of the Global Partnership on AI, set up by France and Canada in 2019.

• The Global Partnership on Artificial Intelligence aims to guide the responsible adoption of AI based on shared principles of “human rights, inclusion, diversity, innovation and economic growth”, among the member nations.

• G7 Members: France, Canada, Italy, Germany, Japan, UK and US.

Obituary

RajyaSabha member M.P. Veerendra Kumar passes away

• Rajya Sabha (RS) MP from Kerala and Loktantrik Janata Dal (LJD) Leader, writer and journalist,  M.P. Veerendra Kumar passed away. He was born on July 22, 1936, at Kalpetta, Wayanad district, Kerala.

• In 1996, Kumar was elected to the Lok Sabha from Kozhikde and became a ‘Union Minister of State for Finance’ and later ‘Union Minister of State for Labour’ in the United Front governments led by HD Deve Gowda and IK Gujral.

• He was elected to the Lok Sabha again in 2004. He has been a member of the Rajya Sabha since April 2016. He was a recipient of the Sahitya Academy award.

Days

World No-Tobacco Day

• World No Tobacco Day (WNTD) is observed every year on 31 May, globally to inform the public on the dangers of using tobacco  and to discourage the use of tobacco in any form.

• Theme of the 2020 WNTD is ‘Tobacco and related industry tactics to attract younger generations’.

• The Day was created by the member states of the World Health Organization (WHO) in 1987.

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Important Current Affairs 30th May 2020

National

India’s GDP growth slows to 11-year low of 4.2%

• India’s gross domestic product (GDP) grew by 4.2 per cent in 2019-20 as compared to 6.1 per cent expansion in 2018-19, the slowest growth in GDP in 11 years. The earlier estimate by various arms of the government was 5 per cent growth in ‘19-20.

• The government imposed  on March 25. However, slowing down of business activities across the world in January-March impacted the Indian economy.

• The Reserve Bank had pegged the GDP growth for 2019-20 at 5 per cent as projected by the NSO in its first and second advance estimates released earlier this year in January and February respectively.

Foundation Stone for Missile Park ‘Agneeprastha’ Laid at INS Kalinga, Visakhapatnam

• The foundation stone for setting up a Missile Park named ‘Agneeprastha’ was laid at INS Kalinga, Naval base in Visakhapatnam, Andhra Pradesh, by Commodore Rajesh Debnath, Commanding Officer Eastern Naval Command (ENC), on 28 May 2020.

• Once completed, the Missile Park will be dedicated to all the officers, sailors and support staff of the INS Kalinga, who have served in this premier naval base of the ENC since its establishment in 1981..

• ‘AGNEEPRASTHA’ will have glimpses of Missile History of INS Kalinga since 1981 till date.A 2 megawatt solar photovoltaic plant was also commissioned at INS Kalinga by Vice Admiral Atul Kumar Jain.

Boycott Chinese products, apps, including TikTok: Sonam Wangchuk

• Educator and innovator Sonam Wangchuk has created a buzz online after his message to boycott Chinese goods went going viral amid the escalating tension at LAC in Ladakh. In an appeal, he urged the countrymen to snub products made in China and uninstall Chinese apps.

• Wangchuk, who inspired Phunsukh Wangdu’s character essayed by Aamir Khan in the film 3 Idiots, recently released a YouTube video titled ‘China Ko Jawaab Sena Degi Bullet Se, Naagrik Dengey Wallet Se‘, explaining how people can help the country in this situation.

International

US President Trump regulates social media platforms under Section 230

• US President Donald Trump recently signed an order to regulate the social media platforms under Section 230 of the Communications Decency Act (CDA). The move is aimed at defending free speech in the states.

• The order came after Twitter labeled Trump's tweets as misleading. Section 230 is the Internet legislation of the US that paved the way of social media giants like Google, Facebook and Twitter.

Trump says US terminating relationship with World Health Organisation

• Accusing the World Health Organisation (WHO) of being “totally controlled” by China, US President Donald Trump late Friday announced the country will permanently “terminate” its relationship with the organisation and will redirect funds from the WHO to other organisations.

• The Trump administration had on Wednesday taken the significant step of saying it could no longer certify Hong Kong’s autonomy from China, which was promised before the British handed the city back in 1997.

Obituary

Ajit Jogi, the First Chief Minister of Chhattisgarh Passes Away

• Ajit Jogi, who served as the first Chief Minister of Chhattisgarh, has passed away. He was 74. Ajit Jogi had served as the first CM of the state from November 2000 to November 2003.

• He parted ways with the Congress in 2016 and went on to form the Janata Congress Chhattisgarh (J).Before taking over as the CM, Ajit Jogi served as a Rajya Sabha Member of Parliament (MP) from Madhya Pradesh.

Renowned Astrologer Bejan Daruwala passes away

• Renowned astrologer Bejan Daruwala passed away on May 29, 2020 in Ahmedabad, Gujarat. He was 88.

• Bejan Daruwalla was a world renowned Indian astrologer, who also served as an English professor in Ahmedabad. He was known to be an ardent follower of Lord Ganesha.

• His astrological techniques combined palmistry, western astrology, astrology, tarot reading, the Kabalah and I-Ching.

Appointments and Resignations

NDB elects Brazil’s Marcos Troyjo as its new President

• Marcos Troyjo has been elected as the new president of the New Development Bank (NDB). He is a former deputy economy minister of Brazil and will replace India’s KV Kamath as a president of the multilateral financial institution.

• The Finance Ministry released a statement mentioning that the elections for the post were held in a special meeting of the bank’s board of governors on May 27. The statement also mentioned that India’s Anil Kishora will be the bank’s vice-president and Chief Risk Officer.

Aiman Ezzat becomes new CEO of Capgemini Group

• Aiman Ezzat has become the new Chief Executive Officer (CEO) of French technology major Capgemini Group.

• He has replaced the presently serving Paul Hermelin who will continue to serve as the Chairman of the Board.

• The appointment of Aiman Ezzat was made at the close of the Annual General Meeting of Shareholders.

Leo Puri to become Chairman of JP Morgan South Asia and South East Asia

• Leo Puri has been announced to become the new Chairman of JP Morgan South Asia and South East Asia. He will replace Kalpana Morparia who will be serving as the chairman until the 1st Quarter of 2021.

• Leo Puri has earlier served as the Chief Executive Officer (CEO) of UTI Mutual Fund.

Wipro appoints Thierry Delaporte as its new CEO & MD

• Thierry Delaporte has been appointed by the IT major Wipro as its new Chief Executive Officer (CEO) and Managing Director (MD). He will replace Abidali Neemuch wala as the new CEO and MD of Wipro.

• Abidali Neemuchwala will relinquish his position as CEO and MD on 1st June 2020.

Days

International Everest Day

• International Everest Day is observed on 29 May every year.

• It was on this day in 1953 that Nepalese Tenzing Norgay and New Zealand’s Edmund Hillary had climbed the Mt. Everest, becoming the first humans to achieve the feat.

• The International Everest Day is held since 2008, when the legendary climber Hillary passed away.

World Digestive Health Day

• The American College of Gastroenterology is honored to join the World Gastroenterology Organisation in observing World Digestive Health Day on Friday, May 29, 2020.

• On World Digestive Health Day, ACG joins WGO in its objective to raise global awareness of the gut microbiome.

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Important Current Affairs 29th May 2020

National

NPCI Launches AI virtual assistant ‘PAi’ to create product awareness

• The National Payment Corporation of India (NPCI) has launched an artificial intelligence (AI) based chatbot called PAi, to create awareness around its products like FASTag, RuPay, UPI, AePS on a real time basis.

• PAi is developed by Bengaluru based startup CoRover Private Limited. The AI virtual assistant, PAi will be available round the clock to provide accurate information on NPCI products.

FM Nirmala Sitharaman chairs 22nd Meeting of FSDC

• The 22nd Meeting of the Financial Stability and Development Council (FSDC) was chaired by the Union Minister for Finance & Corporate Affairs Nirmala Sitharaman in New Delhi.

• The FSDC meeting featured the participation of senior officers of the Government of India as well Financial Sector Regulators. The participants of the meeting reviewed the measures taken by the Government of India and the regulators in the recent months to maintain the financial stability

International

European Union announces Euros 750 billion recovery fund

• European Union (EU) Commissioner Paolo Gentiloni recently announced that the EU has proposed a recovery fund of 750 billion euros to revive the economy of member countries.

• The proposal came as the 27-nation group has gone into deep recession, which is ravaging the economies of the nations worldwide.

Banking and Economy

ADB approves USD 177 mn loan for road projects in Maharashtra

• The Asian Development Bank on May 27, 2020 approved a USD 177 million loans for road projects in Maharashtra. The projects aim to improve connectivity to national highways, interstate roads, seaports, airports, district headquarters, rail hubs, enterprise clusters, industrial areas and agricultural areas.

• Under the project, around 450 km of state highways and major district roads will be upgraded in Maharashtra.

Science and Technology

NASA postpones its long-awaited launch of American Astronauts to ISS due to bad weather

• The National Aeronautics and Space Administration (NASA) postponed the scheduled launch of American Astronauts to the International Space Station from American soil on May 27, 2020 due to bad weather. NASA called off its most-awaited mission minutes before the launch.

• This will be the first launch of astronauts from American soil since 2011. Large crowds had gathered along Florida's Space Coast to watch the historic moment. The launch is a joint operation between NASA and SpaceX.

Sports

36th National Games postponed indefinitely

The 36th National Games, planned for October-November in Goa, was deferred indefinitely. The National Games organising board has chosen to defer National Games.

Days

World Hunger Day

• World Hunger Day is observed globally on 28 May every year. The objective of this day is to raise awareness about more than 820 million people living in chronic hunger worldwide.

• It is observed since 2011 to not only spread awareness about the malaise of chronic hunger but also to solve hunger and poverty through sustainable undertakings.

• The Hunger Project is US based organization committed to the sustainable end of world hunger.

International Day of United Nations Peacekeepers

• The International Day of United Nations Peacekeepers is observed on May 29 annually to pay tribute to all the men and women who have served and continue to serve in United Nations peacekeeping operations for their high level of professionalism, dedication, and courage and to honor the memory of those who have lost their lives in the cause of peace.

• The day was designated by United Nations General Assembly on December 11, 2002 and first celebrated in 2003.The 2020 Theme: Women in Peacekeeping: A Key to Peace.

World Digestive Health Day

• Every year, the World Digestive Health Day (WDHD) is observed on 29 May. It is organised by the World Gastroenterology Organisation (WGO) in collaboration with the WGO Foundation (WGOF).

• The theme of WDHD 2020 is Gut Microbiome – A Global Perspective

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Important Current Affairs 28th May 2020

International

Facebook Launches its Audio-only Calling App ‘CatchUp’

• The internal R&D group of Facebook, the NPE (New Product Experimentation) Team, has come up with a calling application called Catch-Up.

• This audio-only unique app has been developed to coordinate call timings with friends and family members and enables to set up group calls with up to 8 people. The CatchUp app has currently been launched in the United States for testing purpose.

• CatchUp won’t need a Facebook account to use the service and the app works with your phone’s contacts list. Through this app, user will get to know who all in their contact list are free to talk, and which contact is offline.

Banking and Economy

Fitch forecasts India’s GDP growth rate to contract 5% in FY21

• American credit rating agency Fitch ratings has drastically projects India’s economic growth forecast to contract 5 percent in the current fiscal year 2020-21 due to a prolonged .

• This means India’s GDP is estimated to be -5% in FY21.Earlier it had predicted the same at 0.8%

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  imposed.

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.

Science and Technology

NASA renamed its telescope 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.It will be the successor to NASA’s Hubble and Webb Telescopes.

Obituary

Padma Shri awardee, Urdu Writer Mujtaba Hussain passes away

• Noted Urdu author, humorist and satirist Mujtaba Hussain passed away. He was born on July 15, 1936, in Hyderabad, Telangana. Hussain was described as the Mark Twain of Urdu.

• He began his literary career from “Siasat”, a leading Urdu daily published from Hyderabad.

Ranking

AarogyaSetu becomes world's largest contact tracing app

• Union Health Minister Dr. Harsh Vardhan said on May 27, 2020 that India’s AarogyaSetu has become the world's largest contact tracing app, reaching over 11 crore 40 lakh people in just 40 days.

• The Minister tweeted saying that the application is a classic example of coordination between government, industry and citizens. The app was recently made an open source.

• The Health Minister stated that the iOS version of the open source app will be released in the next two weeks. He further added saying that the use of the app is continuously increasing and a large number of people are benefiting from it.

Books and Authors

JK Rowling to release her latest book “The Ickabog”

• The “Harry Potter” author, JK Rowling will release her latest book, “The Ickabog”, online for free, for the children during this  period. The Ickabog’ is a story about truth and the abuse of power.

• Rowling has pledged to donate all royalties when the book is published to “groups who’ve been particularly impacted.”

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Important Current Affairs 27th May 2020

National

AarogyaSetu becomes open source

• The Government has decided to make the AarogyaSetu app an open source to show its commitment towards the core design principles of AraogyaSetu- which are transparency, privacy and security.

• Making the AarogyaSetu app open source means that the government will publish it on a public code repository and release the source code in the public domain. This move will allow developers to inspect the source code of the app and modify it for changes.

• The announcement was made by NITI Aayog CEO Amitabh Kant on May 26, 2020.

NitinGadkari inaugurates tunnel under ChardhamPariyojana in Chamba

• Union Minister of Road Transport and Highways of India NitinGadkari inaugurated the 440 metre-long tunnel, constructed below the busy town of Chamba, on Rishikesh-Dharasu road Highway(NH 94) as part of the Chardham Connectivity Project.

• The tunnel has been developed by the Border Roads Organisation (BRO).Of this BRO is constructing 250 Km of National Highways leading to holy shrine Gangotri and Badrinath.

• The Rs 12,000 croreChardham Project includes construction of National Highway with approximate length of 889 Km, to connect Gangotri, Kedarnath, Yamunotri and Badrinath.

Army Commanders’ Conference begins in New Delhi

The Army Commanders’ Conference has commenced in New Delhi. This is the first phase of the conference which has been scheduled from 27 to 29 May 2020. The Army Commanders’ Conference is an apex level biannual event that was earlier scheduled to be held in April 2020.

PFC signs MoU with NBPCL to fund various projects in Madhya Pradesh

• Power Finance Corporation (PFC), the central PSU under Ministry of Power has signed anMoU with Narmada Basin Projects Company Ltd. (NBPCL), a wholly-owned company of Govt. of Madhya Pradesh, to fund various power projects to be executed in the State of Madhya Pradesh.

• The funds of worth Rs 22,000 crore will be deployed by NBPCL for setting up hydroelectric projects of 225 MW along with power components of 12 other major multipurpose projects to be executed in Madhya Pradesh.

Banking and Economy

Worst recession hits India in the current fiscal year: CRISIL

• The research and rating agency CRISIL has revised its forecast downwards again and expects Indian economy to contract 5 percent in fiscal 2020-21. This was 1.8 percent in last prediction.

• This means India’s GDP growth for FY21 has been estimated to be -5%.It also said that the pre- gross domestic product (GDP) rate in India will not be possible for the next three fiscals.

• Extension in , higher economic costs and an economic package are the three basic reasons for the downward revision.

Days

NGMA commemorates 115th Birth Anniversary of Ramkinkar Baij

• The National Gallery of Modern Art organised a virtual tour to commemorate the 115th Birth Anniversary of iconic artist Ramkinkar Baij. The virtual tour was titled as “Ramkinkar Baij | Journey through silent transformation and expressions”.

• The virtual tour was conducted in five different themes namely: Portrait, LifeStudy, Abstract & Structural Composition, Nature Study & Landscape and Sculptures.

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Important Current Affairs 26th May 2020

National

Fintech startup Zaggle joins hands with Visa to launch payment solutions for SMEs, startups

• In order to launch innovative payment solutions for small and medium enterprises (SMEs) and startups, a Fintech startup Zaggle has partnered with payments technology major “Visa”.

• Both the companies will work towards enhancing the productivity and efficiency of the SMEs and startups. They will also automate the processes and reduce the costs simultaneously focusing on easy and faster credit.

India hands over war game centre named as “INDIA” to UPDF

• The Indian Association Uganda (IAU) and Indian Military Advisory and Training Team for Uganda Peoples Defence Forces (UPDF) have jointly set up military war game centre called ‘INDIA’ at the Uganda Senior Command and Staff College in Kimaka in Jinja District of Uganda with a cost of over 1 billion Ugandan shillings or $2,65,000.

• The centre was inaugurated by the Ugandan President Yoweri Kaguta Museveni.

Sports

Italy beat Serbia to win the inaugural UEFA eEURO 2020

• Italy has won UEFA eEURO 2020, beating Serbia in the final to clinch the inaugural virtual European Championship.

• Italy emerged triumphant by defeating Serbia 3-1 in the best-of-five series.

• The UEFA EURO 2020 eTournament was the biggest ever national team efootball competition, featuring all 55 UEFA national associations.

American tennis star Jamie Hampton announces retirement

• American tennis player and former world number 24 Jamie Hampton has officially announced her retirement from professional tennis, bringing a sudden halt to her career.

• The right hander player then suffered numerous injuries and was unable to play against Venus Williams in the semi finals of ASB Classic in Auckland in 2014.

Days

World Thyroid Day

• World Thyroid Day is observed globally on 25 May every year. The main purpose of the WTD is to aware of the importance of Thyroid and the prevention and treatment of thyroid diseases.

• The World Thyroid Day was established in 2008 by the European Thyroid Association and the American Thyroid Association.

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Important Current Affairs 25th May 2020

National

Prakash Javadekar launched major initiatives on International Biodiversity Day

The Union Minister of Environment, Forest and Climate Change, Shri Prakash Javadekar virtually launched five key initiatives towards conservation of biodiversity on the occasion of International Day for Biological Diversity on 22 May 2020.

• National Biodiversity Authority (NBA) and United Nations Development Programme (UNDP) ‘Biodiversity Samrakshan Internship Programme which proposes to engage 20 students with postgraduate degrees for a period of one year through an open, transparent, online competitive process.

• Launch of UNEP Campaign on Illegal Trafficking of Endangered Species: ‘Not all Animals Migrate by Choice’.

• A Webinar Series on ‘Biodiversity Conservation and Biological Diversity Act, 2002’

• WWF Model Conference of Parties (MCoP), to involve the younger generation so they engage in conversations around impact of humanity’s footprint on biodiversity.

• An awareness campaign supported by WWF to highlight the crucial role played by nature through its free ecological services provided for humankind.

Andhra Pradesh Launches Rs 1,110 crore Mega ReSTART Package for MSMEs

• In Andhra Pradesh, Chief Minister YS Jagan Mohan Reddy has announced Rs 1,110 crore ReSTART package for MSMEs to strengthen the sector during this emergency situation as well as create employment.

• The government immediately released Rs 450 crore as the first instalment under the scheme, which would benefit nearly 98,000 units. These units employ more than 10 lakh people who were facing hardships.

MoHFW constitutes committee to reform Drug Regulatory System

The Ministry of Health and Family Welfare (MoHFW) has constituted a committee to reform the Drug Regulatory System. The committee comprises of 11 members including the senior health officials, scientists and representatives of the pharmaceutical industry. The committee is being headed by Rajesh Bhushan, Officer on Special Duty to the Union health minister.

Obituary

Hockey legend Balbir Singh Sr dies at 96

• Former Indian hockey player Balbir Singh Dosanjh passed away. He was a part of three-time Olympic gold medal-winning Indian hockey team, i.e. in London Olympics (1948), Helsinki Olympics (1952), and Melbourne Olympics (1956).

• In 1956 Olympics, he was the captain of the Indian team that won the gold medal after defeating Pakistan in the finals. The three-time Olympic-medal winner was battling multiple health issues.

• He is survived by three sons Karanbir, Kanwalbir, and Gurbir and a daughter Sushbir. He was conferred with one of India's prestigious awards, Padma Shri in 1957.

Appointments and Resignations

Indian-origin Siddhartha Mukherjee appointed to Commission on Economic Recovery of New York

• Indian-American physician Siddhartha Mukherjee has been appointed as the Member of Commission on Economic Recovery of New York. The commission focuses on jumpstarting the economy of the state.

• On the other hand, Indian-origin Satish Tripathi has been appointed as the Member of the commission.

Days

International Missing Children’s Day

• Every year, 25 May is observed as International Missing Children’s Day (IMCD) around the world to commemorate the missing children who have found their way home, remember those who have been victims of crime, and continue efforts to find those who are still missing.

• The symbol for IMCD is the forget-me-not flower.

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Important Current Affairs 24th May 2020

National

LokSabha Passed Mineral Law Amendment Bill

• LokSabha has passed the Mineral Laws (Amendment) Bill, 2020 which aims to amend Mines and Minerals (Development and Regulation) Act, 1957 along with Coal Mines (Special Provisions) Act, 2015.

• Commercial mining will completely be open up in the coal sector by this bill. Another important feature of this bill is that it intends to remove end-use restrictions to participate in coal mine auction.

Banking and Economy

KKR invests in Reliance Jio for 2.32% stake

• KKR invests Rs 11367 crore in Reliance Jio Platforms to buy a stake of 2.32 percent in a fully diluted basis. The deal is subject to regulatory and customary approvals. This is fifth global investment deal in last one month.

• Earlier, Facebook, Silver Lake, Vista Equity and General Atlantic invested in the Jio Platforms. Know all about KKR-Jio deal here.

Acquisitions and Mergers

IRDAI approves Union Bank to continue with its 30% holding in India First Life Insurance

Insurance Regulatory and Development Authority of India(IRDAI) has approved the proposal of the state owned lender Union Bank of India-UBI(which holds 25.1% stake in Star Union Dai-Chi Life) to continue with its 30% holding in IndiaFirst Life Insurance.

Appointments and Resignations

Indian economist, AbhasJha appointed to key World Bank position in South Asia

• Indian economist, AbhasJha has been appointed as the Practice Manager for Climate Change and  Risk Management for South Asia at World Bank.

• AbhasJha’s appointment comes at a time when Cyclone Amphan has badly hit West Bengal, Orissa in India and Bangladesh.

Ranking

India Became Second Largest Manufacturer Of PPE In The World

• India has become the second-largest manufacturer of Personal Protective Equipment in the world following China which is currently leading producer of PPE in the world.

• At present, India is producing 2.06 lakh PPE kits every day which is the maximum capacity of the country. A PPE kit basically consists of shoe cover, gloves, eye shield, mask, and gown.

Days

International Day to End Obstetric Fistula

• International Day to End Obstetric Fistula (IDEOF) is observed on 23 May. The day is celebrated by the United Nations.

• In 2003, the United Nations Population Fund (UNPF), formerly known as the United Nations Fund for Population Activities (UNFPA) and its partners had launched a global campaign to End Obstetric Fistula.

• The theme for 2020 IDEOF is “End gender inequality! End health inequities! End Fistula now!”.

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Important Current Affairs 23rd May 2020

National

UP Government Signs MoU with SIDBI for ‘UP Start-up Fund’ to Boost Employment

• The Uttar Pradesh government under Chief Minister Yogi Adityanath has launched the ‘UP Start-up Fund’ on 20 May 2020, to boost job creation in the state.

• The fund will motivate more and more youths to establish their own startups in the state as well as provide employment opportunity to large number of migrant, coming to the state, as per their skill.

• The fund has been set up under the UP Information Technology and Start-up Policy 2017.The ‘UP Start-up Fund’ will be in the form of Fund of Funds.CM Adityanath handed over cheque of the initial contribution of Rs 15 crore towards the Fund, while signing the MoU with SIDBI.

• The Small Industries Development Bank of India (SIDBI) will be the fund manager.

Banking and Economy

NTPC, ONGC to set up Joint Venture Company for Renewable Energy Business

•National Thermal Power Corporation Limited (NTPC) has signed a Memorandum of Understanding with the Oil and Natural Gas Corporation Limited (ONGC) to set up a joint venture company for the renewable energy business.

•The agreement will enable both companies to increase their presence in the renewable energy sector. Under the MoU, NTPC and ONGC will jointly explore the setting up of offshore wind and other Renewable Energy Projects in India and overseas.

•The two companies will also explore opportunities in the field of E-mobility and ES (Environmental, Social and Governance), storage and sustainability projects.

RBI reduces Repo Rate by 40 bps to 4.0% in Monetary Policy Committee (MPC)

The Reserve Bank of India in its Monetary Policy Committee (MPC) meeting on May 22, 2020 has decided to:

• Reduce Repo Rate by 40 bps to 4.00% from 4.40% earlier.

• Reverse repo rate has been reduced to 3.35%

• The marginal standing facility (MSF) rate and the Bank Rate stands at 4.25%

• The MPC decided to continue with the accommodative stance.

Obituary

Four-time Grand Slam singles champion Ashley Cooper passes away

•Former world no. 1 and four-time Grand Slam singles champion, Ashley Cooper passed away recently at the age of 83 after a prolonged illness. Cooper had won three of the four majors -the Australian Open, Wimbledon and US championships in 1958.

•Cooper had also won four doubles titles at Grand Slam tournaments. He achieved the top rank in 1957. The Australian was recognised as the world's best amateur player during the years of 1957 and 1958.

Appointments and Resignations

Assam’s Jahnabi Phookan Takes Charge as FICCI FLO National President

• Assam-based entrepreneur Jahnabi Phookan has been appointed as the new National President of FICCI Ladies Organization (FLO) on 22 May 2020.

• FICCI FLO is the women wing of the leading industry chamber, Federation of Indian Chambers of Commerce and Industry (FICCI).

• Phookan is the 37th National President of FICCI FLO. She succeeds Harjinder Kaur Talwar.

Days

World Turtle Day

The World Turtle Day is observed on May 23 every year to raise awareness among people to protect turtles and tortoises and their disappearing habitats around the world.

International Day for Biological Diversity

The United Nations celebrates International Day for Biological Diversity on 22 May every year to raise awareness about the issue of significant reduction in biological diversity due to certain human activities.

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Important Current Affairs 22nd May 2020

National

Rajiv Gandhi Kisan Nyay Yojana launched in Chhattisgarh

• Chhattisgarh CM Bhupesh Baghel has launched the Rajiv Gandhi Kisan Nyay Yojana to mark the 29th anniversary of former PM Rajiv Gandhi. The scheme launched with financial outlay of Rs. 5,700 crore aims to stimulate the economy of rural areas of the state amid the situation.

• The scheme was announced in the Chhattisgarh Budget 2020-21.

Beneficiaries under Ayushman Bharat crosses 1 crore mark

• The number of beneficiaries under the ‘Ayushman Bharat’ scheme has crossed the one crore mark. This was informed by Prime Minister Narendra Modi.

• Pradhan Mantri Jan Arogya Yojana-Ayushman Bharat was launched in 2018 by PM Modi as the biggest government-sponsored healthcare scheme in the world.

Science and Technology

Sun goes into ‘Solar Minimum’ state

• Space agencies recently reported that the sun has entered the ‘Solar Minimum’ state and is soon going to make entry into the deepest period of sunshine recession.

• The Solar minimum is currently underway and is a deep one.

Sports

NADA Suspends Power lifters Savita Kumari and Ankit Shishodia for violating anti-doping rules

The National Anti-Doping Agency (NADA) has provisionally suspended Power lifters Savita Kumari and Ankit Shishodia for violating anti-doping rules.

Appointments and Resignations

Crisis expert Carmen Reinhart appointed World Bank Chief Economist

• World Bank Group has appointed Carmen Reinhart as its new Vice President and Chief Economist. Her appointment will be effective from June 15, 2020. She was a Senior Policy Advisor and Deputy Director at the IMF and Vice President and Chief Economist of the investment bank Bear Stearns.

• She has been listed among Bloomberg Markets Most Influential 50 in Finance, Foreign Policy’s Top 100 Global Thinkers, and Thomson Reuters’ The World’s Most Influential Scientific Minds.

Govinda Rajulu Chintala appointed NABARD chairman, Shaji KV and PVS Surya kumar appointed as DMD of NABARD

• The appointments committee of the union cabinet appointed Govinda Rajulu Chintala as Chairman of National Bank for Agriculture and Rural Development (NABARD). He was the successor of Harsh Kumar Bhanwala.

• P V S Suryakumar: Suryakumar served as the chief general manager (CGM) of the NABARD, will hold the postof DMD of NABARD till his superannuation on July 31, 2023.

• Presently, Dr. Harsh Kumar Bhanwala is serving as the Chairman of NABARD.

Days

Anti Terrorism Day 2020

• Anti Terrorism Day 2020 is observed on 21st May every year in India. The day marks the death anniversary of India’s seventh Prime Minister Rajiv Gandhi on 21 May 1991.

• He was killed in Tamil Nadu in a campaign by the Tamil Tigers Eelam (LTTE) a terrorist group. After this assassination, V.P. Singh government has decided to observe 21st May as Anti Terrorism Day.

World Metrology Day

• World Metrology Day is observed globally on 20th May every year. Many nations on this day, internationally collaborate to create awareness about metrology and its advancement in the respective field.

• This year theme for World Metrology Day: Measurements for global trade. This theme was chosen to create awareness of the important role measurement plays in facilitating fair global trade, ensuring products meet standards and regulations, and satisfying customer quality expectations.

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