Today Current Affairs - 24 July 2020 Current Affairs - Daily Current Affairs
We are here for you to provide the important Recent and Latest Current Affairs 24 July 2020, which have unique updates of Latest Current Affairs 2020 events from
all newspapers such as The Hindu, The Economic Times, PIB, Times of
India, PTI, Indian Express, Business Standard and all Government
official websites.
NATIONAL AFFAIRS
PM Narendra Modi Laid Foundation Stone for Manipur Water Supply Project
On 23rd July 2020, through video
conferencing Narendra Modi, Prime Minister of India laid the foundation
stone of the Manipur Water Supply Project, under the Jal Jeevan Mission designed to provide Freshwater Household Tap connections(FHTCs) to the remaining households in the Greater Imphal Planning area, 25 towns and 16 districts of Manipur.
About Manipur:
Governor– Najma Akbar Ali Heptulla
Chief Minister– N Biren Singh
Capital– Imphal
About Manipur:
Governor– Najma Akbar Ali Heptulla
Chief Minister– N Biren Singh
Capital– Imphal
PM Modi addressed virtual India Ideas Summit 2020; India-US negotiating UAV co-development programme
i.On July 22, 2020, Prime
Minister Narendra Modi delivered the keynote address at the two days
long (July 21-22) virtual India Ideas Summit 2020 which was hosted by
US-India Business Council (USIBC) under the theme “Building a Better
Future”.
ii.The year 2020 marked the 45th anniversary of the formation of the Council.
iii.The US and India are negotiating a co-development programme for the air-launched unmanned aerial vehicle (UAV), between US Air Force research labs, Indian Air Force (IAF), India’s Defence Research and Development Organisation (DRDO), and an Indian start-up company.
ii.The year 2020 marked the 45th anniversary of the formation of the Council.
iii.The US and India are negotiating a co-development programme for the air-launched unmanned aerial vehicle (UAV), between US Air Force research labs, Indian Air Force (IAF), India’s Defence Research and Development Organisation (DRDO), and an Indian start-up company.
Kakrapar Atomic Power Project’s Unit 3 in Gujarat: India’s First 700 MWe unit to Achieve Criticality
The Nuclear Power Corporation of India Limited(NPCIL) announced that, Unit-3 of Kakrapar Atomic Power Project(KAPP-3), India’s First 700 MWe (megawatt electric) and indigenously developed Pressurised Heavy Water Reactor(PHWR) in Surat, Gujarat achieved its first criticality – initiation of controlled and sustained nuclear fission reaction on 22nd July 2020(Wednesday).
About Nuclear Power Corporation of India Limited(NPCIL):
Chairman & Managing Director– Satish Kumar Sharma
Head Office– Mumbai, Maharashtra
About Nuclear Power Corporation of India Limited(NPCIL):
Chairman & Managing Director– Satish Kumar Sharma
Head Office– Mumbai, Maharashtra
India to Have 60% Renewable Energy by 2030: R K Singh at Webinar On Energy Transition
Raj Kumar Singh, Minister of
State(MoS)(IC) Power and New & Renewable Energy stated that India
will have around 60% of the installed capacity of the electricity
generation from renewable resources by 2030, in the webinar on Energy Transition at the second pre-event hosted by The World Sustainable Development Summit (WSDS) 2021 in collaboration with Energy Transitions Commission (ETC) India on 21st July 2020.
About Ministry of Power and Ministry of New & Renewable Energy(MNRE):
Minister of state (IC)– Raj Kumar Singh
About TERI – The Energy and Resources Institute:
Director General– Dr Ajay Mathur
Headquarters– New Delhi
About Ministry of Power and Ministry of New & Renewable Energy(MNRE):
Minister of state (IC)– Raj Kumar Singh
About TERI – The Energy and Resources Institute:
Director General– Dr Ajay Mathur
Headquarters– New Delhi
Jitendra Singh Launched Restructured Scheme for PM’s Awards for Excellence in Public Administration 2020 and Web Portal Virtually
i.Jitendra Singh,Minister of
State for Prime Minister’s Office(PMO), Personnel, Public Grievances,
Pensions, Atomic Energy and Space launched the restructured scheme for PM’s Awards for Excellence in Public Administration 2020 and the web portal (www.pmawards.gov.in) through video conference.
ii.Purpose of restructuring– To recognize the performance of the District Collectors with regard to outcome indicators, economic development, peoples’ participation and redressal of public grievances.
ii.Purpose of restructuring– To recognize the performance of the District Collectors with regard to outcome indicators, economic development, peoples’ participation and redressal of public grievances.
INTERNATIONAL AFFAIRS
India, Maldives signed contract for development of Geydoshu Mas Plant in Maldives’ Maradhoo and Hulhudhoo
i.On July 22, 2020, India and Maldives inked an agreement to set up Geydoshu Mas Plant (Neighborhood Fish Processing Plants) at two islands in the Addu city of Maldives namely Maradhoo and Hulhudhoo.
ii.The Contract signing ceremony was held in Addu City, which attended virtually Maldives’ Foreign Secretary Abdul Ghafoor Mohamed, High Commissioner of India to the Maldives Sunjay Sudir, along with other members of Maldives’ Ministry of Foreign affairs.
iii.This agreement is first in the series of “Indian Grant Assistance for Implementation of High Impact Community Development Projects through local bodies” in Maldives at a total cost of $5.5 million.
About Maldives:
Capital– Male
Currency– Maldivian rufiyaa
ii.The Contract signing ceremony was held in Addu City, which attended virtually Maldives’ Foreign Secretary Abdul Ghafoor Mohamed, High Commissioner of India to the Maldives Sunjay Sudir, along with other members of Maldives’ Ministry of Foreign affairs.
iii.This agreement is first in the series of “Indian Grant Assistance for Implementation of High Impact Community Development Projects through local bodies” in Maldives at a total cost of $5.5 million.
About Maldives:
Capital– Male
Currency– Maldivian rufiyaa
Turkmenistan became 25th country with Observer Status in World Trade Organization
i.On July 22, 2020, Turkmenistan became the 25th
country who was granted observer status in the World Trade Organization
(WTO) enabling the nation to establish permanent residence at WTO
headquarter in Geneva, Switzerland and monitor it’s proceedings.
ii.Turkmenistan also became the last former Soviet republic to establish formal ties with the trade body.
iii.This observer status was granted during the 5th virtual session of WTO General Council which was held from WTO headquarters and attended by representatives of its member-states.
About World Trade Organization (WTO):
Director-General– Roberto Carvalho de Azevedo (Retire on August 31, 2020)
Members– 164 countries and 25 Observer nations
ii.Turkmenistan also became the last former Soviet republic to establish formal ties with the trade body.
iii.This observer status was granted during the 5th virtual session of WTO General Council which was held from WTO headquarters and attended by representatives of its member-states.
About World Trade Organization (WTO):
Director-General– Roberto Carvalho de Azevedo (Retire on August 31, 2020)
Members– 164 countries and 25 Observer nations
Nicaragua becomes the 87th Country to sing the International Solar Alliance Framework Agreement
i.On 23rd July 2020, The Republic of Nicaragua became the 87th country to sign the International Solar Alliance(ISA) Framework Agreement, an initiative to promote sustainable energy, led by India.
ii.H. E. Jaime Hermida Castillo, Permanent Representative to the UN of the Republic of Nicaragua, signed the Agreement at the Permanent Mission of India to the United Nations, New York.
About International Solar Alliance(ISA):
Director General– Upendra Tripathy
Headquarters– Gurugram, Haryana
About Republic of Nicaragua:
President– Daniel Ortega
Capital– Managua
Currency– Nicaraguan Cordoba Oro (NIO)
ii.H. E. Jaime Hermida Castillo, Permanent Representative to the UN of the Republic of Nicaragua, signed the Agreement at the Permanent Mission of India to the United Nations, New York.
About International Solar Alliance(ISA):
Director General– Upendra Tripathy
Headquarters– Gurugram, Haryana
About Republic of Nicaragua:
President– Daniel Ortega
Capital– Managua
Currency– Nicaraguan Cordoba Oro (NIO)
Ravi Shankar Prasad Represented India in the G20 Digital Economy Ministers Virtual Meeting Hosted by Saudi Arabia
On 22nd July 2020, The Union Minister of
Electronics and Information Technology represented India in the virtual
meeting of the G20 Digital Economy Minister under the presidency Saudi
Arabia.
About G20 or Group of Twenty:
Members– Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Republic of Korea, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom (UK), United States (US), and European Union (EU).
Spain is a permanent guest invitee to the G20 meetings.
Chairman– Saudi Arabian King Salman bin Abdulaziz Al Saud
Current Presidency– Saudi Arabia
About G20 or Group of Twenty:
Members– Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Republic of Korea, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom (UK), United States (US), and European Union (EU).
Spain is a permanent guest invitee to the G20 meetings.
Chairman– Saudi Arabian King Salman bin Abdulaziz Al Saud
Current Presidency– Saudi Arabia
BANKING & FINANCE
Airtel Payments Bank Partnered with NSDC to Skill Rural Youth for Financial Services Sector Jobs
i.Airtel Payments Bank Ltd has partnered with National Skill Development Corporation (NSDC) to train and skill the youth in rural India.
ii.This will enable them to find employment opportunities and become entrepreneurs in the financial services sector.
iii.The knowledge and training imparted to youth is to render financial and banking services more accessible to rural and semi-urban India.
About Airtel Payments Bank:
Headquarters– New Delhi, India
Managing Director(MD) and Chief Executive Officer(CEO)– Anubrata Biswas
About NSDC:
Headquarters– New Delhi, India
MD & CEO- Manish Kumar
ii.This will enable them to find employment opportunities and become entrepreneurs in the financial services sector.
iii.The knowledge and training imparted to youth is to render financial and banking services more accessible to rural and semi-urban India.
About Airtel Payments Bank:
Headquarters– New Delhi, India
Managing Director(MD) and Chief Executive Officer(CEO)– Anubrata Biswas
About NSDC:
Headquarters– New Delhi, India
MD & CEO- Manish Kumar
Bank of Baroda Launched ‘Insta Click Savings Account’, 100% Paperless Digital Self-Assisted Online Savings Account
i.India’s third-largest public sector bank, Bank of Baroda(BoB) launched ‘Insta Click Savings Account’, a 100% paperless digital self-assisted online savings account.
ii.It can be activated in real-time i.e; the customer can transact using the Baroda M Connect Plus application with the MPIN received on the mobile number.
iii.It also offers an option to subscribe to a wide range of digital channels like mobile banking, Internet banking, UPI (unified payments interface), and debit card.
About BoB:
Headquarters- Vadodara, Gujarat
MD and CEO– Sanjiv Chadha
Non-Executive Chairman- Hasmukh Adhia
ii.It can be activated in real-time i.e; the customer can transact using the Baroda M Connect Plus application with the MPIN received on the mobile number.
iii.It also offers an option to subscribe to a wide range of digital channels like mobile banking, Internet banking, UPI (unified payments interface), and debit card.
About BoB:
Headquarters- Vadodara, Gujarat
MD and CEO– Sanjiv Chadha
Non-Executive Chairman- Hasmukh Adhia
ECONOMY & BUSINESS
India’s GDP to contract by 6% in FY21: DBS
i.As per the report of DBS(Formerly, Development Bank of Singapore), Singaporean brokerage, India’s Gross domestic Product(GDP) will contract by 6%(-6%) in FY21 as the economy is yet to stabilise the COVID -19 infection curve and the due to the caseload in the economically key states.
ii.This will affect the economy badly. In its earlier forecast, the brokerage had forecasted the growth as -4.8%.
ii.This will affect the economy badly. In its earlier forecast, the brokerage had forecasted the growth as -4.8%.
CBDT launched revised Form 26AS; Details of Specified Financial Transactions included
i.In order to enhance the flow of information between taxpayers and tax authorities, the Central Board of Direct Taxes (CBDT) has launched a revised auto-generated Form 26AS namely “Annual Information Statement (AIS)” from this assessment year of 2020-2021 w.e.f. June 1.
ii.The key difference between the new and old form is that the former will also reflect the details of “specified financial transactions (SFT)” i.e. all high-value transactions of individuals, companies, partnership firms, etc. which are filed with the tax department under Section 285BA of the Income-tax Act, 1961.
iii.The SFTs are included in the Part E of the improved Form 26AS.
About Central Board of Direct Taxes (CBDT):
CBDT, a part of the Department of Revenue in the Ministry of Finance works as the policy making body for the Income Tax department.
Chairperson– Pramod Chandra Mody
Headquarter– New Delhi
ii.The key difference between the new and old form is that the former will also reflect the details of “specified financial transactions (SFT)” i.e. all high-value transactions of individuals, companies, partnership firms, etc. which are filed with the tax department under Section 285BA of the Income-tax Act, 1961.
iii.The SFTs are included in the Part E of the improved Form 26AS.
About Central Board of Direct Taxes (CBDT):
CBDT, a part of the Department of Revenue in the Ministry of Finance works as the policy making body for the Income Tax department.
Chairperson– Pramod Chandra Mody
Headquarter– New Delhi
RIL becomes the 1st Indian company to reach Market Cap of Rs 13 lakh crore; Becomes 48th largest company in market cap globally
Reliance Industries Limited (RIL) becomes the 1st Indian company to reach Market Capitalisation (m-cap) of Rs 13 lakh crore. It becomes the world’s 48th largest company by m-cap, ahead of Abbott Labs, Oracle, Chevron and Unilever. It also crossed the stock price of Rs 2000 for the 1st time.
- Globally, Saudi Aramco is the company with the highest market cap of $1.7 trillion, followed by Apple, Microsoft, Amazon, and Alphabet.
- Reliance is the 10th highest m-cap company in Asia. China’s Alibaba Group is ranked 7th globally.
- The United States listed Reliance Jio among the companies that are becoming “Clean Telcos”(who reject doing business with tools of the Chinese Communist Party’s surveillance state, like Huawei)
Key Info:
i.RIL is India’s most valuable
listed company, the second-placed TCS has a market capitalisation of Rs
8.2 lakh crore, followed by HDFC Bank at Rs 6.2 lakh crore.
ii.It has added Rs 10 lakh crore to its m-cap in the last six years , of which Rs 4 lakh crore were added in the last 10 months,
iii.It’s m-cap had crossed USD
150 billion on June 19, 2020. In total, RIL has added USD 25 billion in
market valuation within a month.
Highlights
i.The aggregate m-cap of RIL stands at Rs 13.17 lakh crore or USD 176.4 billion.
ii.RIL’s partly paid-up shares listed separately have a m-cap of Rs 46,702.88 crore.
iii.RIL’s partly paid-up shares crossed the Rs 1,100 level for the first time.
About RIL
Headquarters– Mumbai,Maharashtra
CEO– Mukesh Ambani
Recent Related News:
i.Pune-based Mylab becomes the 1st Indian firm to make diagnostic test kits for coronavirus.
ii.Indian Oil Corporation (IOC), becomes 1st company to begin the supply of BS-VI fuel across country.
ACQUISITIONS & MERGERS
CCI Approved Acquisition of Krishnapatnam Port Company Limited by Adani Ports and SEZ Limited
The Competition Commission of India(CCI) has approved the acquisition of Krishnapatnam Port Company Limited(KPCL) by Adani Ports and Special Economic Zone Limited(APSEZ). The proposed combination envisages acquisition of equity shareholding and full management control of KPCL by APSEZ
Key Info
i.APSEZ is a customer-facing integrated port infrastructure services provider. Currently it is present across 10 domestic ports in six maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha. It manages the logistics chain
ii.KPCL is a developer and operator of the deep water port at Krishnapatnam, Andhra Pradesh in accordance with the concession agreement on Build-Operate-Share-Transfer basis with the Government of Andhra Pradesh for a period of thirty years.
Note– APSEZ informed that it will acquire 75% stake for a total consideration of Rs 13,572 crore from the CVR Group in January 2020. The balance stake will be held by the CVR Group.
About KPCL:
Headquarters– Nellore, Andhra Pradesh
Group Chairman– C.Visweswara Rao
Managing Director– C.Sasidhar
About APSEZ
Head Office– Ahmedabad, Gujarat
CEO– Karan Adani
Recent Related News:
i.CCI approved BP Global’s proposed 49% acquisition of Reliance BP Mobility Limited.
ii.CCI approved proposed acquisition of 100% shares and control of Tech Data Corporation by Tiger Midco LLC.
Key Info
i.APSEZ is a customer-facing integrated port infrastructure services provider. Currently it is present across 10 domestic ports in six maritime states of Gujarat, Goa, Kerala, Andhra Pradesh, Tamil Nadu and Odisha. It manages the logistics chain
ii.KPCL is a developer and operator of the deep water port at Krishnapatnam, Andhra Pradesh in accordance with the concession agreement on Build-Operate-Share-Transfer basis with the Government of Andhra Pradesh for a period of thirty years.
Note– APSEZ informed that it will acquire 75% stake for a total consideration of Rs 13,572 crore from the CVR Group in January 2020. The balance stake will be held by the CVR Group.
About KPCL:
Headquarters– Nellore, Andhra Pradesh
Group Chairman– C.Visweswara Rao
Managing Director– C.Sasidhar
About APSEZ
Head Office– Ahmedabad, Gujarat
CEO– Karan Adani
Recent Related News:
i.CCI approved BP Global’s proposed 49% acquisition of Reliance BP Mobility Limited.
ii.CCI approved proposed acquisition of 100% shares and control of Tech Data Corporation by Tiger Midco LLC.
SCIENCE & TECHNOLOGY
China Launches Tianwen-1: China’s First Rover Mission to Mars
i.On 23rd July 2020, The Tianwen-1, China’s first fully homegrown Mars Mission, was launched in a Long March 5 Rocket from the Wenchang Satellite Launch Center in Hainan Island at 12:41 a.m. EDT (0441 GMT).
ii.The Tianwen-1 is carrying the duo of an orbiter and a lander or rover; this combination of craft was never launched towards mars.
About China:
President– Xi Jinping
Capital– Beijing
Currency– Renminbi
ii.The Tianwen-1 is carrying the duo of an orbiter and a lander or rover; this combination of craft was never launched towards mars.
About China:
President– Xi Jinping
Capital– Beijing
Currency– Renminbi
SPORTS
ISL becomes 1st league in South Asia and 7th in Asia to join the World Leagues Forum
The Hero Indian Super League (ISL) joins
the World Leagues Forum (WLF), the association of Professional football
leagues. It is the first league from South Asia and seventh in Asia
to join the WLF.
The Premier League, La Liga and Bundesliga are also part of the association of Professional football leagues and also the most supported leagues by the people.
Highlights:
i.In 2014, when ISL begun, India has been raising its standard to achieve world class standard, claimed by The Founder and chairperson of Football Sports Development limited (FSDL), Mrs. Nita Ambani
ii.Jerome Perlemuter, the General Secretary of the World Leagues Forum welcomed the joining of ISL to WLF.
About WLF:
Chairman – Enrique Bonilla (LIGA MX)
General Secretary – Jerome Perlemuter (from April 2017)
Members – 42 members.
About ISL:
First season began 12 October 2014.
Co-promoters – Reliance, Star India and supported by the All India Football Federation (AIFF)
The Premier League, La Liga and Bundesliga are also part of the association of Professional football leagues and also the most supported leagues by the people.
Highlights:
i.In 2014, when ISL begun, India has been raising its standard to achieve world class standard, claimed by The Founder and chairperson of Football Sports Development limited (FSDL), Mrs. Nita Ambani
ii.Jerome Perlemuter, the General Secretary of the World Leagues Forum welcomed the joining of ISL to WLF.
About WLF:
Chairman – Enrique Bonilla (LIGA MX)
General Secretary – Jerome Perlemuter (from April 2017)
Members – 42 members.
About ISL:
First season began 12 October 2014.
Co-promoters – Reliance, Star India and supported by the All India Football Federation (AIFF)
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