Today Current Affairs - 2nd July 2020

by Omprasad - July 02, 2020

We are here for you to provide the important Recent and Latest Current Affairs 2 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.

Today Current Affairs

NATIONAL AFFAIRS

PM announced extension of Pradhan Mantri Garib Kalyan Ann Yojana till November, 2020

i.Pradhan Mantri Garib Kalyan Ann Yojana (PMGKAY) has been extended from July, 2020 till the end of November 2020, with an outlay of more than Rs 90,000 crore.
ii.In this regard, more than 80 crore people will be provided 5 kg free wheat or rice per month along with 1 kg free whole chana (pulses) to each family per month.
iii.Centre has provided a total of 116.34 lakh metric tonne (LMT) food grains for the April-June period. Notably, Government of India is bearing 100% financial burden of approximately Rs. 46,000 crores for food grains and approximately Rs 5,000 crore for pulses under PMGKAY.

India, Japan Hold PASSEX Naval Exercise to Promote Understanding in Indian Ocean

i.In order to promote mutual understanding, Indian Navy and Japanese Navy (Japanese Maritime Self-Defence Force) have conducted a day long Naval Exercise for tactical and communications training, towards the Malacca Strait in the Indian Ocean Region (IOR).
ii.The overall content of this PASSEX (passing exercise) was goodwill training and to promote understanding.
iii.Participants: The excercise consisted of four warships viz. Rajput-class destroyer INS (Indian Naval Ship) Rana and Kora-class missile corvette INS Kulish of Indian Navy and JS Kashima (TV 3508) and JS Shimayuki (TV 3513) of JMSDF’s training squadron.
About Japan:
Capital– Tokyo
Currency– Japanese yen
Prime Minister– Shinzo Abe
About Indian Navy:
Chief of the Naval Staff (CNS)– Admiral Karambir Singh
Integrated Headquarters MoD (Navy)– New Delhi

Central govt Implemented Amendments in the Indian Stamp Act, 1899 and Rules from 1st July, 2020

i.From July 1, 2020, Central Government has enforced the amendments to the Indian Stamp Act, 1899, and the Indian Stamp (Collection of Stamp-Duty through Stock Exchanges, Clearing Corporations and Depositories) Rules as proposed under Part I, Chapter IV of the Finance Act, 2019 on 10th December, 2019.
ii.These amendments are introducing a uniform rate of stamp duty on trading of shares and commodities which was being charged at different rates by different states.
iii.Clearing Corporation of India Limited (CCIL) under the jurisdiction of Reserve Bank of India (RBI) and the Registrars to an Issue and/or Share Transfer Agents (RTI/STAs) to act as a collecting agent.

Government Declares Entire Nagaland ‘Disturbed Area’ for 6 more Months Under AFSPA Act 1958

On 30 June, The Government of India declared the entire Nagaland as a “disturbed area” for another six months from 30 June, 2020 to 31, December, 2020 by exercising the powers conferred by Section 3 of the Armed Forces (Special Powers) Act, 1958 (No.28 of 1958).
Key Points:-

Nagaland was under Armed Forces Special Powers Act (AFSPA) for almost 6 decades, and was not withdrawn even after a framework agreement was signed in August 2015.
AFSPA is slammed by civil society groups as “draconian” came, among deteriorating law and order situation.
The AFSPA gives powers to the armed forces to arrest, and to open fire if it is necessary for maintaining public order.

About Nagaland:-
Capital: Kohima
Chief Minister: Neiphiu Rio

India-Bangladesh form 50:50 Joint Venture Company for LPG Business in Bangladesh

On 30 June, India and Bangladesh signed an agreement for formation of 50:50 Joint Venture Company (JVC) of Liquified Petroleum Gas (LPG) business in Bangladesh.
Joint Venture Company:-

It helps to reduce the cost of import of LPG for customers of Bangladesh.
The JVC takes the ‘neighborhood first’ policy of Indian Government.
The JV intends LPG export to north east India through pipeline between the nations.

About Indian Oil Corporation:
Headquarters: New Delhi
Chairman: Shrikant Madhav Vaidya
Beximco LPG:
Headquarters: Dhaka, Bangladesh
Chief Executive Officer:- Mrinal Roy
Minister of Petroleum & Natural Gas: Dharmendra Pradhan

NITI Aayog in collaboration with RMI released ‘Towards a Clean Energy Economy’ report

i.The new report on clean energy transition in India titled “Towards a Clean Energy Economy: Post-Covid-19 Opportunities for India’s Energy and Mobility Sectors” brought out jointly by the National Institution for Transforming India (NITI) Aayog and the Rocky Mountain Institute (RMI) to support India’s clean energy future.
ii.The report has recommended specific actions and laid down four principles as a framework by which India can revive two of our economic powerhouses – the transport and power sectors from the COVID-19 effect that has impacted their demand and supply.
iii.India’s transport sector can save 1.7 gigatonnes (GT) of cumulative carbon dioxide emissions (CO2) and avoid about 600 million tonnes of oil equivalent in fuel demand by 2030.
About RMI India:
RMI India is an independent nonprofit organization that works towards accelerating India’s transition to a clean, prosperous, and inclusive energy future.
Headquarter– New Delhi
About NITI Aayog:
Chairman– Prime Minister of India (Narendra Modi)
Chief Executive Officer (CEO)– Amitabh Kant
Headquarters– New Delhi

MoU Signed Between Indian Oil, NTPC Ltd, and SDMC for Waste to Energy Plant in Delhi

On 30th June, A MoU (Memorandum of Understanding) was signed between the Indian Oil, NTPC Ltd and South Delhi Municipal Corporation (SDMC) on setting up a waste to energy plant at Okhla in Delhi.
Key Points:-
i) IndianOil, SDMC and NTPC came together to develop a Waste-to-energy Plant demonstration using Gasification technology at Okhla landfill in Delhi.
ii) The gas generated from waste helps in cutting imports of petroleum products and saves precious foreign exchange.
iii) The plant will result in less emission and provide usable residues.
About NTPC:
Headquarters: New Delhi
Chairman & MD: Gurdeep Singh
About Indian Oil Corporation:
Headquarters: New Delhi
Chairman: Shrikant Madhav Vaidya

Giriraj Singh Launches the 1st Edition of “Matsya Sampada” – Fisheries and Aquaculture Newsletter

On 30th June 2020, Giriraj Singh, Union Minister for Fisheries, Animal Husbandry and Dairying, launched the 1st edition of “Matsya Sampada” – newsletter fisheries and aquaculture published by the Department of Fisheries and the operational guidelines of Pradhan Mantri Matsya Sampada Yojana (PMMSY).
Ministry of Fisheries, Animal Husbandry and Dairying:
Minister– Giriraj Singh
Minister of State– Sanjeev Kumar Balyan

HRD Ministry Launches the World’s First Online B.Sc Degree in Programming and Data Science – Prepared by IIT Madras

On 30th June 2020, Ramesh Pokhriyal Nishank, Union Minister of Human Resource and Development (HRD) launched the world’s first online B.Sc Degree in Programming and Data science through the webinar, the programme was prepared by Indian Institute of Technology, Madras(IIT-Madras).
i.The programme is prepared with a focus on Data Science which is predicted to grow and provide 11.5 million job opportunities by 2026.
ii.Students who have enrolled in any on campus Undergraduate course can also apply.Diploma graduates and working professionals can also apply to the course.
Fees structure:

Total fees for the complete three level course is Rs.2,42,000
Foundation level Rs 32,000 (8 courses)
Diploma level Rs 1,12,000 (12 courses)
Degree level Rs 1,00,000 (11 courses)

Government to release commemorative stamp to honour former Prime Minister PV Narasimha Rao

On June 29, 2020 Government announced that it will release commemorative stamp to honour former Prime Minister PV Narasimha Rao. He is regarded as the ‘Father of Indian Economic Reforms’. He was born on June 28, 1921 in Warangal.

Key info about PV Narasimha Rao

i.PV Narasimha Rao served as 9th prime minister from 1991 to 1996.
ii.He is the only non-Gandhi who completed a full term as prime minister. He was also the 1st prime minister of the country to hail from South India.
iii.His 100th birth anniversary was celebrated on June 28, 2020.

What is a commemorative stamp?

It is a limited-issue postal stamp to commemorate a a place, event, person, or object
of historical importance. This stamp is owned by collectors and sold privately through auctions and online

INTERNATIONAL AFFAIRS

UNGA President Tijjani Muhammad-Bande Launched ‘Alliance for Poverty Eradication’; India Joins as Founding Member

On 30 June, India became a founding member of the United Nation(UN)’s ‘Alliance for Poverty eradication’ launched by Tijjani Muhammad-Bande, President of the 74th United Nation’s General Assembly(UNGA).
Objective: – It aims to focus on efforts to boost the global economy and eradicate poverty after COVID 19 pandemic.
Key Points:-

Over 271 million people of India have moved out of poverty between 2006 to 2016, according to the United Nations Development programme.
Approximately 2.1 billion people are classified as poor across the globe, among which 767 million are living in extreme poverty.

About United Nations:-
Headquarters: New York, United States.
Secretary-General: Antonio Guterres

WTO Dispute Settlement Body Sets Up Panel Against India’s ICT Duties Based on EU’s Complaint

The World Trade Organization (WTO) Dispute Settlement Body (DBS) has established a panel after the European Union (EU) has dragged India into the Dispute Settlement System of WTO for the second time against import duties on ICT (information and communication technology) products, including mobile phones, cameras, headphones and earphones, imposed by the country.
i.India is levying a fee upto 20 % on them & these charges will affect the EU’s exports of 400 million euros annually.
About World Trade Organisation (WTO):
Headquarters– Geneva, Switzerland
Director-General- Roberto Azevêdo

New Zealand Cancels the 2021 APEC’s Auckland Summit & Opts to Virtual Summit

On 30th June 2020, New Zealand cancelled the 2021 Asia-Pacific Economic Cooperation (APEC) forum that was scheduled to be held in Auckland, due to the COVID-19 pandemic and is opting to lead a virtual summit.
About APEC:
Executive Director– Dr Rebecca Fatima Sta Maria
Headquarters– Singapore
Established– 1989

Uganda, First African Country to Submit Results of REDD+ to UNFCCC

On 24th June 2020, Uganda became the first African country to submit the results for Reducing Emissions from Deforestation and forest Degradation (REDD+) to the United Nations Framework Convention on Climate Change (UNFCCC), which has opened the way for potential results based payments to Uganda.
The submitted documents will help Uganda to claim the funds through the Green Climate Fund’s forest conservation scheme
REDD+ results:
In the documents prepared by the Ministry of Water and Environment, the REDD+ Secretariat and National Forestry Authority, Uganda claims that

Uganda has reduced the carbon dioxide emission by 8070694 tonnes for 2015-2017.
Deforestation was reduced from an average of 50,147 hectares(ha) per year over the 15-year reference period (2000-2015) to 28,095 ha per year over the 2-year results period (2015-2017).

Result based payment:
The payment comprises the final REDD+ phase and will provide financial assistance to the developing countries that proves that they have stopped the process of deforestation over a certain period of time backed by the technical evaluations of the United Nations (UN).
About REDD+:
UNFCCC developed the Redd+ mechanism to reduce the emissions due to deforestation and forest degradation.
About UNFCCC:
Executive Secretary– Patricia Espinosa (Mexico)
Headquarters– Bonn, Germany

BANKING & FINANCE

World Bank Approves USD 750 Million MSME Emergency Response Program for India

i.The World Bank approved a USD 750 million Micro, Small, and Medium Enterprises(MSMEs) Emergency Response Program to support severely impacted MSMEs in India due to COVID-19 crisis.
ii.The International Bank for Reconstruction and Development(IBRD) will provide the loan.
iii.This program will address the immediate liquidity and credit needs of around 1.5 million applicable MSMEs.
iv.Maturity Period of the loan– The loan has a maturity of 19 years including a 5-year grace period.
About World Bank:
Headquarters- Washington, D.C., United States
President- David R. Malpass

FDI Up by $19 bn in FY20; Portfolio Investment Down by $13.7 bn: IIP Data Released by RBI

i.In accordance with the India’s International Investment Position (IIP) data as at end-March 2020, released by Reserve Bank of India (RBI), Foreign Direct Investment (FDI) in the country has raised by $19 billion while portfolio investment declined by $13.7 billion during 2019-20.
ii.International financial assets of Indian residents increased by US$ 73.9 billion due to the rise in reserve assets and overseas direct investment by US$ 64.9 billion and US$ 13.0 billion, respectively, though other investments declined marginally during the year.
iii.International financial liabilities increased by US$ 16.3 billion as direct investment and other investments rose by US$ 19.0 billion and US$ 11.0 billion, respectively.
About Reserve Bank of India (RBI):
Headquarters– Mumbai, Maharashtra
Formation– 1 April 1935
Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, one is yet to be appointed).

HDFC Bank Launches ‘e-Kisaan Dhan’ App for Farmers

i.HDFC Bank has launched ‘e-Kisaan Dhan’ App for Farmers in India. This app provides information and knowledge to farmers which will help them to meet the needs of the rural ecosystem.
ii.With this app, farmers can access a bouquet of services in banking and agriculture, through their mobile phones.
iii.The app provides the users information in regard to new government schemes and ways to access them.
About HDFC Bank:
Headquarters– Mumbai, Maharashtra
Chairman– Deepak S. Parekh
Managing Director– Aditya Puri

ECONOMY & BUSINESS

Fitch Slashes India’s Growth Forecast For FY22 to 8%; Projects Contraction at 5% For FY21

On June 30, 2020, Fitch Ratings Inc in its June 2020 update of Global Economic Outlook (GEO), has lowered India’s growth forecast for FY 2021-22 to 8% from 9.5 % projected in may 2020 due to the toughest lockdown imposed by the central government to prevent the outbreak of Coronavirus (COVID-19).
However, Fitch has not made any change in its previous estimate of a 5% decline in the economy during the current financial year (FY 2020-21).
About Fitch Ratings:
Headquarters– New York, US
President– Ian Linnell

SAP India Rolls Out Global Bharat Program to Digitalise MSMEs

On June 29, 2020, SAP India Private Limited, a subsidiary of Germany based enterprise technology firm, in partnership with NASSCOM Foundation, United Nations Development Programme (UNDP) and Pratham InfoTech Foundation, has rolled out Global Bharat program to equip micro, small and medium enterprises (MSMEs) by providing them access to global marketplace, digital skilling for the workforce and transforming business processes.
About SAP India Private Limited:
Location– Bengaluru, Karnataka
President and Managing Director– Deb Deep Sengupta

AWARDS & RECOGNITIONS

India’s AI enabled “MyGov Corona Helpdesk” wins two global award at 4th Annual CogX 2020

i.India’s Artificial Intelligence(AI) enabled “MyGov Corona Helpdesk” won two awards under the categories “Best Innovation for Covid-19 – Society” and “People Choice Covid-19 Overall Winner” in 4th CogX, the annual Global Leadership Summit and Festival of AI and Emerging Technology held in London from June 8th to 10th
ii.The AI enabled Helpdesk was designed, developed and deployed by JioHaptik Technologies Limited in collaboration with the WhatsApp team in 5 days.
MyGov Corona Helpdesk:
CEO & Co-founder of JioHaptik– Aakrit Vaish
CEO of MyGov– Abishek Singh
About CognitionX:
Founder & CEO– Charlie Muirhead
Co Founder– Tabitha Goldstaub
Headquarters– London, United Kingdom

All Rounder Ravinder Jadeja Named the Most Valuable Player of India by Wisden

Spin bowling all rounder, 31 years old Ravinder Jadeja, was named India’s Most Valuable Player(MVP) of the 21st century by Wisden for his contribution in both batting and fielding.
Jadeja’s MVP rating is around 97.3 which is second only to Muttiah Muralitharan of Sri Lanka making him the second most Valuable Test Player of the 12th Century.
Indian Cricket Team:
Captain– Virat Koli
Vice-Captain– Rohit Sharma
About Board of Control for Cricket in India (BCCI):
President– Sourav Ganguly
Headquarters– Mumbai, Maharashtra

APPOINTMENTS & RESIGNATIONS

Rajkiran Rai G, Union Bank of India MD & CEO Term Extended for 2 years

Government extends the term of Rajkiran Rai G as the Managing Director(MD) and Chief Executive Officer(CEO) of Union Bank of India(UBI) by 2 years till May 31, 2022.
About Rajkiran Rai G
i.The 3 year term of Rajkiran Rai G as MD & CEO of UBI was to end on June 30, 2020. He took charge of UBI on July 1, 2017.
ii.Prior to the appointment in UBI, he was an executive director at Oriental Bank of Commerce.
iii.He has over 3 decades of experience in the banking field.
About UBI:
Headquarters- Mumbai, Maharashtra
Chairman & Part-Time Non-Official Director– Kewal Handa

Ravinder Bhakar Assumes Charge as CEO of Central Board of Films Certification

i.Ravinder Bhakar, a 1999 batch officer of Indian Railway Stores Service(IRSS), assumed charge as the Chief Executive Officer(CEO) of Central Board of Films Certification(CBFC). He succeeds Anurag Srivastava.
ii.Prior to this appointment Ravinder Bhakar served as the Secretary & Chief Public Relations Officer of Western Railways. He also served as an Indian Engineering Services officer.
About CBFC:
Headquarters– Mumbai, Maharashtra
Chairperson– Prasoon Josh

Shrikant Madhav Vaidya Assumes Charge as the Chairman of Indian Oil Corporation

On July 1, 2020 Shrikant Madhav(S M) Vaidya assumed charge as the chairman of Indian Oil Corporation(IOC). He succeeds Sanjiv Singh who has superannuated.
About Shrikant Madhav Vaidya
Other additional post
i.In addition to the post, he will serve as the Chairman of Chennai Petroleum Corporation Ltd, refining subsidiary of IndianOil, and Indian Oiltanking Ltd, a joint venture.
ii.He will also be on the Hindustan Urvarak & Rasayan Ltd board, a joint venture setting up fertiliser plants.
iii.He is on the board of Ratnagiri Refinery & Petrochemicals Ltd, will take over as its Chairman. He will also be a Director on the Board of Petronet LNG Limited.
Key info
i.Prior to this elevation he had been Director (Refineries) on the IndianOil Board since October 2019.
ii.He has a decade-long association with the Panipat Naphtha Cracker Complex, India’s largest cracker plant.

IMPORTANT DAYS

National Doctors Day 2020 – July 1

i.India Celebrates July 1st as the National Doctors Day to honour the doctors and physicians and to recognise their 24×7 service to the society and to express gratitude towards the professionals of the medical sector for their service.
ii.Indian Medical Association(IMA) observed the first National Doctors Day on 1st July 1991.
iii.The theme of 2020 Doctors Day is “Lessen the Mortality of COVID-19”
About Indian Medical Association:
National President– Rajan Sharma
Honorary Secretary General– R.V. Asokan
Headquarters– New Delhi

72nd National Chartered Accountants Day 2020: July 1

i.National Chartered Accountants Day is celebrated annually on July 1 to honor the Chartered Accountant(CA).
ii.The day marks the establishment of the Institute of Chartered Accountants of India(ICAI) in 1949 under the Chartered Accountants Act, 1949. This year 2020 is the 72nd celebration of the day.
iii.ICAI organised a virtual national CA summit 2020 from June 29 to July 1, 2020. The theme of the event is,‘Transforming the Future: Enabling Excellence, Augmenting Trust’.
About ICAI:
Headquarters– New Delhi, India
President– CA. Atul Kumar Gupta

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