Test: August 2020 Weekly Current Affair - 1 - UPSC MCQ

The Small Industries Development Bank of India (SIDBI) in association with TransUnion CIBIL Limited (formerly Credit Information Bureau (India) Limited) has launched a comprehensive financial education and one-stop knowledge platform for micro, small and medium enterprises “MSMESaksham”, which will guide MSMEs (micro, small and medium enterprises) seeking quick access to finance and will also support them in managing their credit obligations. The portal is focused on two key pillars of financial knowledge and access to credit.

Reliance Power and Japanese energy major JERA have inked a pact with a group of banks for full financing, totalling $642 million (approx Rs 4,798 crore), for their new gas-fired thermal power generation project in Bangladesh. Both partners will develop a new 745 MW natural gas combined-cycle power project in Meghnaghat in Bangladesh.

Great Eastern Shipping Company Ltd announced that its board has appointed former Reserve Bank of India (RBI) Governor Urjit Patel as an additional and independent director for a term of 5 years, effective from August 01, 2020.

Folk Musician, composer, Lyricist and Padmashree awardee Sonam Tshering Lepcha passed away at the age 92, at Kalimpong, West Bengal due to old age ailments. He was born on 3rd January, 1928 at Bong Busty, Kalimpong, West Bengal. He played a major role in reviving and promoting the Lepcha Culture which is one of the indegenious culture of Sikkim.

The former Taiwanese President, Mr. Lee Teng-hui died at the age of 97 at Beitou District, Taipei City, Taiwan due to infection, and heart ailments. He was born on 15th January 1923, Sanzhi, Taiwan. He was popularly known as “Mr. Democracy” for eradicating the dictatorial rule in favour of unbiased pluralism in Taiwan.

• As a part of the renovation of the Mahatma Gandhi Bridge/Setu over river Ganga in Bihar, Union Minister for Road Transport, Highways and MSMEs (Micro, Small & Medium Enterprises) Nitin Jairam Gadkari virtually inaugurated its upstream carriageway. This means the two lanes are completed of the 4-lane bridge which is being renovated at a cost of Rs 1,742 crore.
• The online ceremony was presided over by Chief Minister (CM) of Bihar Nitish Kumar. This is the first ever bridge in India using modern technology for improving the existing structure. The designing of the bridge has been done by Indian Institute of Technology (IIT) Roorkee in discussion with international consultants.

The Maharashtra government approved the Maharashtra Agribusiness Network (MagNet) project worth about Rs 1,000 crore (USD 142.9 million). The project aims to help farmers across all districts in the state for the next 6 years. This will boost the fruit and vegetable production and will improve processing and minimise the losses in the sector of perishables. 70% of the project cost will be funded by Asian Development Bank(ADB) while the rest of 30% by the state government.

Jitendra Singh, Union Minister of State-MoS (Independent Charge), Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space laid foundation stones virtually and e-inaugurated various construction works undertaken under Pradhan Mantri Gram Sadak Yojana (PMGSY)-II in Jammu and Kashmir(J&K). Jitendra Singh informed that J&K has ranked 2nd in terms of performance under PMGSY II after Himachal Pradesh.

The eSamadhan -Chief minister’s office(CMO) public grievance system of the Government of West Bengal received the SKOCH Platinum award – top award from the SKOCH foundation for the performance of grievance redressal cell of the Chief minister’s office(CMO).

In order to improve green cover in the inaccessible Aravalli area of Haryana’s Faridabad district, the Haryana forest department has used drone technology to shower 50,000 seeds pallets covered with a mixture of clay and compost. This ‘seeding drone’ is designed by an Indian Institutes of Technology (IIT)-Kanpur backed startup. Species whose seeds were disseminated included Peepal, Pilkhan, Amaltash, Bael Patra, Pahari Papri, Ronjh and Khairi.

The famous writer and documentary Filmmaker Sa. Kandasamy passed away at the age 81, in Chennai, Tamil Nadu due to heart ailments. He was born in 1940, Mayiladuthurai district, Tamil Nadu. He won the Sahitya Akademi award for his Novel ‘Visaranai Commission.’

World Breastfeeding Week is celebrated annually in the first week of August (from 1st of August to 7th of August) around 120 countries in the World. The day is celebrated to encourage breastfeeding and improve the babies’ health around the world. The theme for the year 2020 is, “Support Breast feeding for a healthier planet”.

Chief Minister of Andhra Pradesh, Y. S. Jaganmohan Reddy launched a one-month long virtual cybercrime awareness programme ‘E-Raksha Bandhan’ in Amaravati. The Aim of the Programme is to create awareness among women, youth and children on Cyber Crimes across the state. It is organized by the Andhra Pradesh Police, CID, FM Radio, Cyber Crime Prevention Against Women and Children (CCPWC), Cyber Peace Foundation (CPF) and other organisations.

Ram Nath Kovind, President of India as per the powers conferred on him by Section 1 of Article 148 of the Constitution of India has appointed Girish Chandra (GC) Murmu as 14th Comptroller and Auditor General (CAG) of India, with effect from the date he assumes charge of his office. He succeeds Rajiv Mehrishi who completes his term on August 8,2020 as he attains the age of 65. GC Murmu will take oath on August 8, 2020 at the Rashtrapati Bhawan. He is the first tribal person to become CAG of India. He will have a tenure up to November 20, 2024.

The International Financial Services Centres Authority (IFSCA) announced the establishment of an expert committee headed by Pradip Shah, Chairman of Indasia Fund Advisors Pvt Ltd. to suggest ways to develop the international retail businesses in International Financial Services Centres (IFSC).

Former Guyanese housing minister Mohamed Irfaan Ali (40 years old) became the President of the country after he was declared as the winner of the disputed March 2, 2020 general election following a recount. He is a member of the opposition People’s Progressive Party (PPP). He succeeds David Arthur (A.) Granger.

Hyderabad’s (Telangana) Rajiv Gandhi International Airport has received a mass fever screening system to enhance the screening process of passengers. There are two more scanners in the Airport. The thermal scanner has been provided by the Union Ministry of Health and Family Welfare in coordination with Asian Development Bank funded by the United Nations Children’s Fund (UNICEF).

The Central Government has given the go ahead for Indian Premier League to be rescheduled in the United Arab Emirates from September 19 to November 10, 2020 (13^th edition of IPL). The Board of Control for Cricket in India has got “verbal clearance” from the Government and will receive the official letter in a day or two.

Former Samajwadi party leader and Rajya Sabha MP (Member of Parliament) Amar Singh, had passed away at the age 64, in Singapore due to Kidney ailments.  He was born on January 27, 1956 at Aligarh in Uttar Pradesh. He had gone through kidney transplant in the year 2011. From 5th July 2016 to 1st August 2020, he was re-elected as the member of Parliament, Rajya Sabha. (Constituency: Uttar Pradesh) (preceded by Ambeth Rajan)

On 1st August 2020, Union Minority Affairs Minister Mukhtar Abbas Naqvi informed that country observed the 1st Muslim Women Rights Day across India in accordance with the 1st anniversary of the passage of Muslim Women Act (Protetion on Rights on Marriage Act) 2019 on 1st August 2019 which against the act of triple talaq or talaq-e-biddat and help to achieve gender equality for Muslim women as Muslim Women Rights Day.

Ministry of Defence (MoD) publicized a draft ‘Defence Production & Export Promotion Policy (DPEPP) 2020 for public feedback by August 17, 2020 after which the policy would be promulgated by the MoD. The policy aims to achieve a manufacturing turnover of $25 bn or Rs 1,75,000 crore, including exports of $5 bn or Rs 35,000 Crore in aerospace and defence goods and services by 2025. The Department of Defence Production (DDP) will be the nodal department for coordination on various components of the DPEPP 2020 and to achieve the objectives set in this Policy.

• In a boost to the railways’ efforts to use technology to ease infrastructure work, for the first time in India, Railway is using New Track Construction (NTC) machine for the entire track laying of the Dedicated Freight Corridors.
• The projects will be implemented by Dedicated Freight Corridor Corporation of India Limited (DFCCIL). Currently, there are seven NTC machines that have been deployed along the Dedicated Freight Corridor (DFC) alignment.
• Four NTC machines are deployed in the Eastern DFC viz. Allahabad – New Bhaupur, Allahabad – Pandit Deen Dayal Upadhyaya junction, Bhaupur – Bhadan, Khurja Dadri sections and in Western DFC, three NTC machines are deployed at Palanpur-Makarpura, Gothangam-Baroda and Anchali-Sachin sections respectively.
• Notably, The Khurja-Dadri section is the connecting link between the Eastern and Western DFCs on which freight trains run at a speed of 100 kmph ensuring fast logistics movement. The project is expected to be completed by 2022.

The Reserve Bank of India(RBI) has approved Sashidhar Jagdishan as the next Managing Director(MD) and Chief Executive Officer(CEO) of HDFC Bank for a period of 3 years, effective from the date of taking charge i.e., October 27, 2020 under Section 35B of the Banking Regulation Act 1949. He will succeed Aditya Puri, the bank’s longest serving CEO (26 years- since September 1994). Aditya Puri will retire on October 26, 2020, on attaining the age of 70.

The Nobel Peace Prize winner (1998) and prominent Northern Ireland politician John Hume passed away at 83 in a Londonderry nursing home due to a long period of illness. He was born on January 8, 1937 in Derry(Londonderry), Northern Ireland (a part of the United Kingdom- UK). He is the only person to receive the three major peace awards (Gandhi Peace Prize, Nobel Peace Prize & Martin Luther King Award).

RBI has decided to set up a new mechanism for stressed assets that need rescuing. In this regard, RBI will set up a committee under Kundapur Vaman Kamath, the former chairman of BRICS (Brazil, Russia, India, China and South Africa) Bank and ICICI (Industrial Credit and Investment Corporation of India) Bank to set the parameters and benchmarks for this programme aimed at the resolution of stressed loans. This committee will also evaluate resolution plans where debt is more than Rs 1,500 crore.