We are here for you to provide the important Recent and Latest Current Affairs 8 August 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

India’s first ‘Kisan Rail’ flagged off from Devlali Railway Station of Maharashtra

 i.On August 7, 2020 Piyush Goyal, Union Minister of Railways and Narendra Singh Tomar, Union Minister of Agriculture & Farmers Welfare flagged off the India’s 1st Kisan Rail, a Special Parcel Train from Maharashtra’s Devlali to Bihar’s Danapur Railway station
through video link.
ii.This is the 1st ever multi commodity train of Indian Railways that carries fruits like Pomegranate, Banana, Grapes etc and vegetables like Capsicum, Cauliflower etc.
iii.The train will run on a weekly basis.
About Maharashtra:
Capital– Mumbai
Chief Minister– Uddhav Thackeray

PM Modi Addresses Conclave on Transformational Reforms in Higher Education under NEP

i.On 7th August 2020, Prime Minister Narendra Modi delivered the inaugural address at the Conclave on Transformational Reforms in Higher Education under National Education Policy(NEP) organised by the Ministry of Education in association with University Grants Commission(UGC) over a virtual platform and discussed various aspects of NEP 2020, which replaces the National Policy on Education framed in 1986 with academicians and scientists.
ii.The objective of this new policy is that the education system should ensure that the current and next generation are “future ready”, which will establish a foundation for the 21st century India- New India.
About University Grants Commission (UGC):
Chairman– Prof. D. P. Singh
Location– New Delhi
About Ministry of Education:
Union Minister– Ramesh Pokhriyal ‘Nishank’
Minister of State– Sanjay Dhotre

IBBI amended Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016

i.In exercise of the powers conferred by clause (t) of sub-section (1) of section 196 read with section 240 of the Insolvency and Bankruptcy Code, 2016 (31 of 2016), the Insolvency and
Bankruptcy Board of India (IBBI) amended the Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 by the Insolvency and Bankruptcy Board of India (Liquidation Process) (Third Amendment) Regulations, 2020.
ii.The IBBI has amended regulations for the liquidation process to provide more clarity on fee payable to liquidators.
About IBBI:
It is the regulator for overseeing insolvency proceedings and entities like Insolvency Professional Agencies (IPA), Insolvency Professionals (IP) and Information Utilities (IU) in India.
Chairperson– MS Sahoo
Headquarter– New Delhi

NHAI signs MoU with IIT Delhi to set up CoE for Advance Data Management System for Highways

 

• On 6th August, 2020 National Highways Authority of India (NHAI) signed an agreement with IIT Delhi to set up a Centre of Excellence (CoE) for use of Artificial Intelligence (AI) in data driven decision making and Advance Data Management System for Highways (ADMS Highways).
• The MoU was signed in the presence of Dr. Sukhbir Singh Sandhu, Chairman NHAI and Director of IIT Delhi Dr V Ram Gopal Rao.

 

UNESCO Recognises Venkatraipur & Noliasahi of Odisha as ‘Tsunami Ready’; India Becomes 1st Country in Indian Ocean Region to Receive the Honour

i.United Nations Educational, Scientific and Cultural Organisation (UNESCO) recognises the two coastal villages of Odisha as “Tsunami Ready” for their overall preparedness to face the tsunami.
ii.The two villages are Venkatraipur and Noliasahi.
iii.Odisha became the first state in India and India became the first country in the Indian Ocean Region to achieve this status of “Tsunami ready” from the Intergovernmental Oceanographic Commission (IOC) of UNESCO.
About Intergovernmental Oceanographic Commission (IOC):
Executive Secretary & Assistant Director General of UNESCO for IOC– Vladimir Ryabinin
Head Office– Paris, France
About Odisha State Disaster Management Authority (OSDMA):
Managing Director– Pradeep Kumar Jena
Head Office– Bhubaneswar, Odisha

Simplilearn and NSDC Announce Collaboration to Upskill Professionals in Digital Skills

i.In order to support the continuity of digital skilling of the Indian workforce, Simplilearn, a global provider of digital skills training joined hands with National Skill Development Corporation (NSDC).
ii.Under this collaboration, Simplilearn will host more than 1,000 hours of free learning in digital skills and technologies for learners across India under the categories of AI and Machine Learning, Big Data, Data Science & Business Intelligence, Cyber Security, Software Development, Project management, and Digital marketing.
iii.This partnership is aligned to the Skill India Mission.
About National Skill Development Corporation (NSDC):
Managing Director (MD) & Chief Executive Officer (CEO)– Dr. Manish Kumar
Parent Ministry– Ministry of Skill Development & Entrepreneurship
About Simplilearn:
Executive Officer (CEO)– Krishna Kumar
Headquarter– San Francisco, United states (US)

INTERNATIONAL AFFAIRS

Prime Minister Mahinda Rajapaksa registers landslide victory in Sri Lankan Parliamentary elections

i.Parliamentary elections in Sri Lanka were held on 5 August 2020 to elect 225 members to Sri Lanka’s 16th Parliament.
ii.Sri Lanka Podujana Peramuna (SLPP) headed by Prime Minister Mahinda Rajapaksa has won 145 (plus five more seats from allies) in the elections, securing two-thirds majority in the parliament

• The two-thirds supermajority will give them powers to change the constitution.
• Samagi Jana balawega (SJB) led by Sajith Premadasa has emerged as the main opposition party with 54 seats.
• Former Prime Minister Ranil Wickremsinghe’s United National Party (UNP) has got only a single seat.
• Predominant Tamil National Alliance (TNA) which represents north and east tamil speaking regions has won only ten seats.
• The new parliament is set to meet for the first time on August 20.

iii.Sri Lanka is a democratic republic and unitary state, which is governed by a semi-presidential system, a mixture of parliamentary and presidential system.
Indian Prime Minister Narendra Damordas Modi congratulated Mahinda Rajapaksa on the imminent victory of the Sri Lanka Podujana Peramuna (SLPP).
About Sri Lanka:
Capital – Sri Jayawardenepura Kotte (legislative), Colombo (executive & judicial)
President – Gotabaya Rajapaksa
Prime Minister – Mahinda Rajapaksa

FAO Introduce New Platform to Reduce Global Food Loss and Waste

 On 29th July 2020, The Food and Agriculture Organisation(FAO) unveiled a new Platform,  “Technical Platform on the Measurement and Reduction of Food Loss and Waste” to support the global reduction of food loss and waste.
The official launch of the platform will be on the first International Day of Awareness of Food Loss and Waste(IDAFLW) which will be observed on 29th September 2020.
Platform:
The platform will have information on measurement, reduction policies, alliance, actions and examples of models that were successful in reducing the food loss and wastages in the period of global pandemic.
The related portals from the development patterns will also be provided in this platform.
Importance of reduction of food loss and wastage:
The reduction of food loss and wastages will support in improving the food safety, security and nutrition.
This will result in reducing the emission of greenhouse gases, reduction in pressure on natural resources and increase the global productivity and economic growth.
Platform to reduce food waste and loss: http://www.fao.org/platform-food-loss-waste/en/
About Food and Agriculture Organisation(FAO:
Director-General-  QU Dongyu
Headquarters– Rome, Italy

BANKING & FINANCE

Highlights of Monetary Policy Committee (MPC) on August 4-6, 2020

 i.To state “2020-21 Resolution of the Monetary Policy Committee (MPC)” a three day meeting of Reserve Bank of India’s (RBI) six-member MPC, headed by Shaktikanta Das was held from August 4-6, 2020 where it was forecasted that India’s real gross domestic product (GDP) will contract in the first half (H1) of FY21 as well as full FY 2020-21.
ii.The central bank kept the repo rate unchanged at 4%, reverse repo rate at 3.35%, and marginal standing facility (MSF) rate and the Bank Rate at 4.25%. Following key decisions taken during the meet:

• Resolution Framework for COVID-19-related Stress: RBI sets up panel under KV Kamath for one-time restructuring of loans
• RBI announces additional special liquidity facility of Rs 5000 cr each for NHB & NABARD
• RBI introduced ASISO facility to help banks manage liquidity in COVID-19 scenario
• RBI enhanced loan to value ratio to 90% of value of gold pledged
• RBI extended provisions of restructuring of MSME loans for borrowers with loan outstanding upto Rs 25 cr
• RBI to bring start-ups under priority sector lending category
• RBI to set up ‘Innovation Hub’ to promote financial inclusion, efficient banking
• Positive Pay mechanism for all cheques above Rs 50,000

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).

 

Exim Bank extends USD 250 million line of credit to Mozambique to improve the power supply quality

On August 3rd, 2020 Export-Import (EXIM) Bank on behalf of Indian Government, extended a Line of Credit (LoC) of USD 250 million (about Rs. 1,870 Crores) to Mozambique to improve the power supply quality of the country.
Agreement
The Agreement was signed through exchange between Saroj Khuntia, General Manager of EXIM Bank and Adriano Isaias Ubisse, National Directorate of Treasury, Ministry of Economy and Finance, Mozambique.
About Mozambique:
Capital – Maputo
Currency – Mozambican metical
President – Filipe Nyusi
Prime Minister – Carlos Agostinho do Rosário

ADB signed USD 200 mn financing deal with Reliance Bangladesh LNG and Power Limited for 718 mw power plant in Bangladesh

The Asian Development Bank (ADB) has signed a USD 200 million financing deal with the Reliance Bangladesh LNG and Power Limited (RBLPL) to build and operate a 718 megawatt (mw) combined-cycle gas-fired power plant in Bangladesh.

• The project will reduce the current energy deficit and lead to more private sector investment in the country’s electricity sector.

Location of the Plant
The plant is proposed to be set up on land allotted by Bangladesh Power Development Board (BPDB), in Meghnaghat, Narayanganj District near Dhaka.
Financing Deal
The financing deal has two components of dollar 100 million each.

• ADB will provide USD 100 million and will also manage the other part worth USD 100 million from the Leading Asia’s Private Infrastructure Fund (LEAP).

Pros of the Project
i.The power plant will minimise the dependence of Bangladesh on electricity imports.
ii.It will also reduce the share of environmentally harmful and expensive fuels like coal and oil in the energy mix of the country.
About LEAP
It was established in 2016 with USD 1.5 billion capital commitment for the Japan International Cooperation Agency (JICA).
About ADB Bank
Headquarters– Mandaluyong, Philippines
President– Masatsugu Asakawa

 

 ACQUISITIONS & MERGERS

LIC acquired 4.23% Stake of YES Bank

Life Insurance Corporation of India(LIC) has acquired 4.23% Stake(105.98 crore shares) of YES Bank by purchasing from the open market. With this acquisition, the hold of LIC in YES Bank has increased from 0.75%(19 crore shares) to 4.98%(125 crore shares).

• Period of acquisition is between September 21, 2017, and July 31, 2020.

Moody’s Upgraded Yes Bank’s long-term foreign currency issuer rating 
i.Recently, Moody’s Investors Service has upgraded the long-term foreign currency issuer rating of YES Bank by a notch to “B3” from “Caa1” after a Rs 15,000-crore capital raising.
ii.The bank still remains under non-investment grade.
B rating– It is considered speculative and are subject to high credit risk,
CAA rating– It is considered to be speculative of poor standing and are subject to very high credit risk
About YES Bank:
Headquarters– Mumbai, Maharashtra
Managing Director(MD) and Chief Executive Officer(CEO)– Prashant Kumar
Tagline– Experience our Expertise
About LIC:
Headquarters– Mumbai, Maharashtra
Chairman– M.R.Kumar

SCIENCE & TECHNOLOGY

Ministry of Jal Shakti  launched a New Version of the India Water Resources Information System

 i.The Ministry of Jal Shakti(MoJS) has launched a new version of the India Water Resources Information System (India-WRIS) with new functions and features. It is open to the public, and accessible through the web portal www.indiawris.gov.in.
ii.The MoJS has established a dedicated organization, National Water Informatics Centre (NWIC) to maintain and update India-WRIS.
iii.The system includes time series data obtained through manual readings and telemetry data received by means of GPRS or satellite.
About MoJS
Union Minister– Gajendra Singh Shekhawat
Minister of State– Rattan Lal Kataria

SAI with CISCE and CBSE launches Khelo India mobile app Online Training Programme for PE Teachers & Principals

On 6th August 2020, the Sports Authority of India(SAI) in association with Council for the Indian School Certificate Examinations(CISCE) and Central Board of Secondary Education(CBSE) will host an online training programme through the Khelo India Mobile App (KIMA) to train the Physical Education (PE) teachers and head of the institutions from CISCE schools on “Khelo India Fitness Assessment of School Going Children”.
About Sports Authority of India(SAI):
Director General– Sandip Pradhan
Executive Director– Anjan Kumar Mishra
Head Office– Jawaharlal Nehru Stadium, Delhi