Daily Current Affairs 29 May 2020: We have collected the latest current affairs for 29 May 2020 that are important for all competitive exams like Bank, SSC, IBPS, SBI exams. The GK current affairs will help you score more in these competitive exams. Improve your general knowledge with our daily online current affairs.

Today Current Affairs - 29th May 2020

National News

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Centre Renames CIPET as Central Institute of Petrochemicals Engineering & Technology

• The government has recently renamed Central Institute of Plastics Engineering & Technology (CIPET) as Central Institute of Petrochemicals Engineering & Technology (CIPET).
• CIPET is a premier national institution under the Ministry of Chemicals and Fertilizers, Govt. of India.
• The new name has been registered under the Tamil Nadu Societies Registration Act 1975 ( Tamil Nadu Act 27 of 1975).

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.
• Customers can ask queries in English and Hindi, via text or voice on the websites of NPCI, RuPay, and UPI Chalega.

IIT Madras develops light-weight Magnesium Alloy to replace steel & aluminium in Automobile Industry

• A team of researchers at the Indian Institute of Technology Madras (IITM), along with the University of North Texas and US Army Research Laboratory, have developed a magnesium alloy with significantly improved properties, that can replace steel and aluminium in automotive and aerospace components to make vehicles more fuel efficient.
• This Magnesium alloy is lightweight, which helps lower the carbon footprint of vehicles. Lightweight vehicles need lesser fuel to run and are therefore more fuel-efficient.

Flipkart Tie-up with Karnataka Mango Board to help farmers sell produce online

• India’s leading E-commerce marketplace Flipkart has signed a memorandum of understanding (MoU) with Karnataka State Mango Department and Marketing Corporation, to enable mango farmers to sell their produce online through the Flipkart platform..
• The partnership will provide farmers with the much-needed market access to consumers and create a potential revenue stream.
• With this partnership, Flipkart is foraying into the Farmer Producer Organisation’s community further contributing to supporting the livelihood of mango growers and the farmer community in this difficult time of fighting with coronavirus.
• Consumers can place orders on Flipkart’s platform for several varieties of mangoes in batches of 3 kg.
• The varieties include Alphonso, Badami, Apoos, Banganpalli, Kesar, Neelam, Himam Pasand, Sendur and Mallika.
• Along with the Mango Board, Indian Post Offices would function as the last- mile delivery operation partners in this mango season.

Banking & Economy News

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ADB signs $177 million loan with India for state road improvements in Maharashtra

• The Asian Development Bank (ADB) and the Government of India have signed USD 177 million loan to upgrade 450 kilometers (km) of state highways and major district roads in the state of Maharashtra.
• The project will improve connectivity between rural areas and urban centers in the state enabling rural communities to better access markets, employment opportunities and services.

S&P Predicts India’s GDP at -5% for FY21

• Leading rating agency S&P Global Ratings has forecast the Indian economy to contract 5 percent in the current fiscal 2020-21.
• This means the GDP growth of India for FY21 is estimated at -5%
• The downward revision is due to the lockdown imposed to contain COVID-19 pandemic, which has curtailed economic activity severely.

Appointment News

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BBB Selects SN Rajeswari as CMD of Oriental Insurance

• The Banks Board Bureau (BBB) has selected SN Rajeswari as the new Chairman and MD of the Delhi-based Oriental Insurance Company (OIC), after an online video interview process in the wake of the lockdown.
• She will succeed AV Girija Kumar, who is retiring on 30 May 2020 on reaching 60.
• Rajeswari, a chartered accountant, is currently the second senior most General Manager and CFO of the public sector general insurance industry, New India Assurance (NIA) and will retire in May 2022.

Brazil’s Marcos Prado Troyjo Named as new President of NDB to Replace KV Kamath

• The board of governors of the New Development Bank (NDB) has unanimously elected Marcos Prado Troyjo, former deputy economy minister of Brazil, as the new President of NDB.
• He will replace KV Kamath.
• Marcos is scheduled to take charge on July 7, 2020.
• The board of governors has also appointed India’s Anil Kishora as vice president of the NDB.
• Kishora has 38 years of experience at India’s largest bank, State Bank of India (SBI).
• The Board of Governors of the NDB held a Special Meeting in virtual format on May 27, 2020, in which finance minister Nirmala Sitharaman represented India.

Sports

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Sri Lanka Cricket Suspends Pace Bowler Shehan Madushanka from all forms of cricket after heroin arrest

• Sri Lanka’s cricket board has suspended pace bowler Shehan Madushanka from all forms of the game on 26 May 2020, for alleged possession of illegal drugs.
• The 25-year-old right-arm bowler has been suspended with immediate effect and he also cannot take part in any form of the game.

Important Days

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World Hunger Day: May 28

• Every year on May 28, The Hunger Project celebrates the World Hunger Day.
• The day was started in 2011 by The Hunger Project to raise awareness about the people living in chronic hunger worldwide and celebrate sustainable solutions to hunger and poverty and to inspire everyone to be a part of the solution!
• The Hunger Project is US based organization committed to the sustainable end of world hunger.

International Day of United Nations Peacekeepers: 29 May

• 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 : May 29

• 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).
• Each year the day focuses upon a particular digestive disease and/or disorder in order to increase general public awareness of prevention, prevalence, diagnosis, management and treatment of the disease and/or disorder.
• The theme of WDHD 2020 is Gut Microbiome – A Global Perspective