Daily Current Affairs – 6 February 2020

Daily Current Affairs – 6 February 2020

Daily Current Affairs :- Current Affairs section is the most important part of almost every competitive exam whether be it SSC, Banking , Insurance or State PCS examination. In this post candidates will find the important national and international news from the exam point of view. These news are incorporated from different sources like The Hindu newspaper , The Indian express and Press information Bureau (PIB).Here, is the current affairs for 17 January 2020.


National News

International Day of Zero Tolerance for Female Genital Mutilation: 6 February

  • International Day of Zero Tolerance for Female is observed globally on 6 February.
  • This day is sponsored by the United Nations for their efforts to eradicate female genital mutilation.
  • It was first introduced in 2003.
  • Theme: Unleashing Youth Power.

PM Modi sets target of 5 billion dollars for defence exports in next five years

  • Prime Minister Narendra Modi has stated that his government has set a defence export target of 5 billion dollars in the next five years.
  • Inaugurating the DefExpo, Mr Modi stated, in 2014, the export of defence equipment from India was about 2,000 crore rupees.
  • In the last 2 years, it has gone up to 17,000 crore rupees. In the next five years, our target is export of 5 billion US dollars, which is about 35,000 crore rupees.
  • Theme “India: The Emerging Defence Manufacturing Hub”.

Union Cabinet clears the setting up of Major Port at Vadhavan

  • The Union Cabinet chaired by Prime Minister Narendra Modi has given its in-principle approval for setting up a new Major Port at Vadhavan near Dahanu in Maharashtra.
  • The new Major Port will be established on the basis of land lord model.
  • The projected cost of the Vadhavan Port is over Rs 65,000 crore.
  • For the implementation of the project, a Special Purpose Vehicle (SPV) will be formed along the Jawaharlal Nehru Port Trust (JNPT) which will act as the lead partner with equity participation of 50% or more.

5 IIITs to get the status of Institution of National Importance

  • The Union Cabinet gave its approval to confer the status of Institution of National Importance to five Indian Institutes of Information Technology, IIITs.
  • Briefing reporters after the Cabinet meeting in New Delhi ,Information and Broadcasting Minister Prakash Javadekar stated, the Five IIITs in PPP mode at Surat, Bhopal, Bhagalpur, Agartala and Raichur will now be able to use the nomenclature of Bachelor of Technology, BTech or Master of Technology or PhD degree.
  • The cabinet has approved introduction of the Indian Institutes of Information Technology Laws (Amendment) Bill, 2020.

Indian Oil & Phinergy to jointly make metal-air batteries in India

  • Indian Oil has picked up a minority equity stake in Israel’s battery developer Phinergy to jointly set up a facility in India to manufacture metal-air batteries for electric vehicles.
  • This collaboration helps in the field of Al-Air battery system including research & development, customization, manufacturing, assembly, sale and service of aluminium-air energy systems technology.

Cabinet gives in principle approval to set up a new major port in Maharashtra

  • Union Cabinet has given in principle approval to set up a new major port at Vadhavan near Dahanu in Maharashtra.
  • The total cost of the project is likely to be over 65 thousand crore rupees. Vadhavan port will be developed on land lord model.
  • A Special Purpose Vehicle, SPV will be formed with Jawaharlal Nehru Port Trust as the lead partner with equity participation equal to or more than 50 per cent to implement the project.

Eastern Railways partners with Amazon India to set up kiosk

  • Eastern Railways has partnered with Amazon India to set up a pick-up kiosk at the Sealdah railway station in Kolkata, West Bengal.
  • This follows after the successful pilot of pickup kiosks in four railway stations across Mumbai in 2019.
  • A kiosk is a small open-fronted hut or cubicle from where newspapers, refreshments, tickets, etc will be sold.

Fitch forecasts India’s GDP growth at 5.6% for Financial Year 2021

  • Fitch Ratings has estimated India’s GDP growth of 5.6% in the next FY21 in its India Economic Outlook.
  • This forecast is lower than the projection made by the government’s Economic Survey.
  • For the current fiscal 2019-20 (FY 20), GDP is projected at 4.6%.
  • Fitch has also estimated that in the fiscal year 2022, government debt will remain 70% of total GDP.

International News

Bhutan to charge Rs 1200 entry fee for Indian tourists

  • Entry into Bhutan will no longer be free for Indian tourists.
  • The Bhutan government passed legislation imposing an entry fee on tourists from India, Bangladesh and Maldives, according to media reports.
  • The fee will be charged from July 2020.
  • Tourists from India, Bangladesh ad Maldives will have to pay a ₹1,200 fee for entering the country.
  • The fee is called a ‘Sustainable Development Fee’ (SDF).
  • The decision comes in light of the increasing number of ‘regional tourists’ to the region and its effect on Bhutan’s ecology.
  • SDF goes directly to the Bhutan government and the government coffers as direct revenue.
  • The fee is meant to help the government tackle the sharp rise in the number of tourists in terms of traffic control.
  • India is the main source of visitors to the country.
  • India’s share in visitors to Bhutan is more than 69 per cent with more than 19 lakh tourists visiting the country.

To fight novel coronavirus World Health Organisation calls for USD 675 million

  • Geneva-based WHO has called for 675 million US dollars in donations for a plan to fight the novel coronavirus.
  • This announcement was made by the Director-General of WHO Tedros Adhanom in Geneva.
  • They are launching a strategic preparedness and response plan and requesting 675 million dollars to fund the plan for the next three months.
  • 60 million US dollars of the funds would be for WHO operations while the remainder would go to countries requiring assistance to guard against the deadly virus.
  • World Health Organisation was sending 500,000 masks and 40,000 respirators to 24 countries from its warehouses in Dubai and Accra.
  • Director-General of WHO also hailed a 100 million dollar donation from the Bill and Melinda Gates Foundation announced earlier.

Cabinet approves India-Sri Lanka Alliance Air flights

  • The Union Cabinet has granted ex-post facto dispensation to Alliance Air, a 100 per cent subsidiary of Air India, to fly on international sectors between India and Sri Lanka.
  • A special dispensation is allowed for the interim period till Alliance Air deploys minimum of 20 aircraft or 20 per cent of total capacity, whichever is higher for domestic operations.
  • India has close bilateral ties with Sri Lanka and our interest is to increase connectivity and to expand people to people contacts between the two countries.
  • Prior to this approval, there was no commercial operation scheduled from Palaly and Batticaloa airports.

BANKING & FINANCE

RBI announces external benchmarking of loans for medium enterprises from April 1

  • More measures to incentivise bank credit to productive sectors, extends one time restructuring scheme for MSMEs
  • Even as it has maintained the status quo on rates, the Reserve Bank of India (RBI) announced a slew of measures to ensure more liquidity to various sectors as part of the Statement on Developmental and Regulatory Policies that it released along with the sixth bi-monthly monetary policy statement.
  • The RBI announced that it has decided to link pricing of loans by scheduled commercial banks for the medium enterprises also to an external benchmark effective April 1, 2020.

DICGC increases the insurance coverage for depositors to 5 lakh

  • Deposit Insurance and Credit Guarantee Corporation (DICGC) increases the insurance coverage for depositors in all insured banks from Rs 1 lakh to 5 lakh with effect from February 4, 2020, with the approval of Government of India.
  • The rate of premium payable by the insured banks will be raised from 10 paise per Rs 100 of assessable deposits to 12 paise per Rs 100 of assessable deposits per annum.

Union Cabinet Approves Amendments to Banking Regulation Act to regulate co-operative banks

  • The Union Cabinet has approved amendments to the Banking Regulation Act to empower India’s Central Bank (Reserve Bank of India) to have better control over urban co-operative banks and multi-state cooperative banks.
  • These amendments will apply to the urban co-operative banks and multi-state cooperative banks.
  • In present, cooperative banks are governed by dual control of cooperative societies as well as the Reserve Bank of India.
  • While the role of cooperative society includes incorporation, registration, management, recovery, audit, supersession of board of directors and liquidation, the central bank’s role is responsible for regulatory functions.

Reliance General launches health insurance plan “Infinity”

  • Reliance General Insurance Company Limited has launched a comprehensive health insurance plan named “Reliance Health Infinity”.
  • The policy offers 90 days pre and 180 days post hospitalization cover, along with sum insured ranging from Rs 3 lakh to Rs 1 crore, and free restore benefits.

All-in-One Android PoS device unveiled by Paytm

  • India’s largest pay ments platform Paytm (owned by One97 Communications) has announced the launch of an All-in-One Android PoS device for merchant partners across the country.
  • This device helps merchants to accept payments through Paytm Wallet, UPI-based apps, debit and credit cards and, most importantly, cash.

Cabinet approves amendment to bring cooperative banks under regulatory control of RBI

  • Union Cabinet has decided to bring Cooperative banks under the regulatory mechanism of Reserve Bank of India.
  • Briefing media persons after the Cabinet meeting, Information and Broadcasting Minister Prakash Javadkar stated the move will ensure greater accountability and transparency in the functioning of Cooperative Banks.
  • Mr Javedkar stated Cooperative Banks need to fulfill regulatory requirements set for scheduled commercial banks.

Instamojo buys digital commerce platform GetMeAShop for $5 million

  • Fintech start-up Instamojo has acquired GetMeAShop, a digital commerce platform for MSMEs, for $5 million in an equity deal.
  • This acquisition, which is its first since inception in 2012, will allow Instamojo to branch into software offerings as it aims to help small businesses adopt and leverage technology without any prior technical know-how.
  • Launched as a payment gateway for micro, small and medium enterprises (MSMEs), Instamojo later branched into an e-commerce platform for merchants to list and sell their products and services online.
  • Over the past five quarters, Instamojo also introduced credit products and logistics services — mojoCapital and MojoXPress.

Summit & Conference

22nd India International Seafood Show

  • 22nd India International Seafood Show 2020 is one of the largest Seafood Fairs in Asia.
  • It is a biennial show and a common forum for Seafood processors, Exporters, Importers, Aquaculturists, Processing Machinery manufacturers and allied industries to meet under one roof.
  • 22nd India International Seafood Show 2020 will be held on 07th-09th February 2020 ,
  • The theme of this year’s seafood show is “Blue Revolution- Beyond Production to Value Addition”.

Prime Minister inaugurates DefExpo in Lucknow

  • Prime Minister Shri Narendra Modi, inaugurated the 11th edition of DefExpo in Lucknow, Uttar Pradesh.
  • India’s biennial military exhibition seeks to showcase the potential of the country as a global defence manufacturing hub.
  • The 11th edition of Def Expo promises to bring new technologies, technological solutions, where Defence manufacturing companies from India and abroad showcase their products and services in the Defence arena, on a single platform.
  • DefExpo 2020 has become one of India’s largest defence exhibition platform as well as one of the Top DefExpo in the world.
  • This time more than a thousand defence manufacturers and 150 companies from all over the world are part of this Expo.
  • The Theme of the Expo is ‘India: The Emerging Defence Manufacturing Hub’ with main focus on ‘Digital Transformation of Defence’.

Appointment

Sourav Ganguly to be Indian team’s Goodwill Ambassador for Tokyo Olympics

  • The Indian Olympic Association has invited BCCI President Sourav Ganguly to become the Goodwill Ambassador of the Indian contingent at the Tokyo Olympics.
  • The Tokyo Olympic Games will be held from July 24 to August 9.

Award

Big Bang Boom Solutions Wins Prestigious SKOCH Award

  • India’s fastest growing startup in the defence sector, Big Bang Boom Solutions Pvt. Ltd. (BBBS) was accorded the prestigious SKOCH award.
  • At a recently held glittering ceremony at New Delhi, Big Bang Boom Solutions was conferred the highest individual honour for Boron Nitrate Based Personal Hybrid Combat Armor.
  • It bags two prestigious wins in Defence India Startup Challenge from the Ministry of Defence under the aegis of iDex.

Science & Technology

HAL & Israel Aerospace Industries to jointly make armed UCAVs

  • Hindustan Aeronautics Limited (HAL) for the 1st time, will sign a partnership pact with Israel Aerospace Industries (IAI) at the DefExpo 2020 in Lucknow, Uttar Pradesh.
  • This pact is signed for manufacture advanced Unmanned Combat Aerial Vehicles (UCAVs) in India.

Molecule to treat ALS identified

  • IITH research team hopes ‘AIM4’ will help arrest the disorder, which is only managed.
  • A drug molecule that promises to help in the treatment of Amyotrophic Lateral Sclerosis (ALS), a rare disease of the nervous system, has been identified by researchers at the Indian Institute of Technology Hyderabad (IITH).
  • With no known drugs to treat ALS, which is a debilitating neurodegenerative disease, the molecule code named ‘AIM4’ raises expectations.
  • Treatment options are limited to two drugs available for management of the condition.

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