Daily Current Affairs - 28th Jun 2020

1971 war hero Sqn. Ldr. Parvez Jamasji passes away

  • Sqn Ldr Parvez Jamasji (retd), who was awarded the Vir Chakra for gallantry during the 1971 Indo-Pakistan war, has died.
  • During the operations against Pakistan in December 1971, Flight Lieutenant Parvez Rustom Jamasji was serving with a helicopter unit. His Helicopter flown by him was attacked twice by machine gun and twice by mortars.

27th June: MSME Day

  • The United Nations on 6th April 2017 has adopted a resolution as per which 27th June to be observed every year as the day of Micro, Small and Medium Enterprises (MSME).
  • As per the International Council for Small Business data, MSMEs on average contribute 50 percent in the GDP and generate 70 percent employment in an economy.
  • This year’s MSME day is to raise awareness and remind the governments of the important role that MSMEs have played in their economy over the decades.

Arjun Munda launches tribes India products on GeM and new website of TRIFED

  • Union Minister of Tribal Affairs, Arjun Munda has inaugurated the TRIBES India store on the Government e-Marketplace (GeM).
  • The TRIBES India store on Government eMarketplace can now help in facilitating purchases by the government. The new website (trifed.tribal.gov.in) has all relevant details about the schemes and initiatives to benefit tribal communities.

Bengaluru in world's top 30 startup ecosystem list

  • According to the report, ‘Global Startup Ecosystem Report (GSER) 2020; the New Normal for the Global Startup Economy and the Impact of COVID-19’ released by Startup Genome, Bangalore has become the only city in the country to be included in the world’s top-30 startup ecosystem ranking & placed 26th position.
  • The nation’s capital Delhi has been ranked 36th in the list.
  • Mumbai ranked first in a parallel “100 emerging ecosystem rankings 2020” followed by Jakarta, Zurich. The list of emerging startup hubs also includes Chennai, Hyderabad and Pune.

D.C. statehood approved by U.S. House for first time in history

  • For the first time since the establishment of the District of Columbia 230 years ago, the House of Representatives voted to declare the city to be the nation’s 51st state, a legislative milestone that supporters say begins to right historical wrongs.
  • In 1790, Washington D.C was carved out from the states of Virginia and Maryland. D.C stands for District of Columbia.
  • The Republican Party has voiced their opposition against the Bill from the beginning. At the Senate, the Bill is even unlikely to be introduced as the Republican Party has a majority with 53 out of the 100 seats.

Dexamethasone added in treatment protocol

  • June 2020, the Union Ministry of Health and Family Welfare has released an updated Clinical Management Protocol under Dexamethasone was advised as an alternative to Methylprednisolone.
  • Further, the Ministry has also stated that the Dexamethasone drug to be only used for COVID-19 positive patients who require oxygen support or those with an excessive inflammatory response.
  • Dexamethasone is a type of corticosteroid medication that is being used for the treatment of a wide range of conductions such as eye pain after eye surgery, asthma, skin diseases, etc. The steroid has immunosuppressant and anti-inflammatory effects.

Government launches 7.15% floating rate bonds

  • The Government has notified the new Floating Rate Savings Bonds, 2020 (Taxable) Scheme in place of 7.75% Savings (Taxable) Bonds, 2018, with effect from July 1, 2020.
  • The Floating Rate Savings Bonds, 2020 (Taxable) Scheme is going to issue a floating rate, taxable savings bond for an initial coupon of 7.15%, payable on January 1, 2021.
  • These bonds will be issued by Reserve Bank India (RBI) on behalf of the Government of India (GoI) and will be available at State Bank of India (SBI) and other nationalised banks, as well as four private sector banks viz. IDBI Bank Ltd, Axis Bank Ltd, HDFC Bank Ltd and ICICI Bank Ltd.

Govt decides to provide facility of SMS filing of NIL statement of Form GSTR-1 from July 1

  • In a major relief to the Goods and Service Tax taxpayers, the government has decided to provide the facility of SMS filing of NIL statement of Form GSTR-1 from 1st July.
  • The Central Board of Indirect Taxes and Customs, CBIC said that the filing of NIL statements through SMS would improve ease of GST compliance for over 12 lakh registered taxpayers.
  • The taxpayer needs to send SMS to 14409 to initiate the SMS facility and after getting six digit code, the taxpayer can confirm their Nil statement.

Gujarat government launches “At One Click” initiative for MSMEs

  • For 12,247 Micro, Small, and Medium Enterprises (MSMEs) and bigger industrial units (including the textile industry) in the state, the Gujarat Government has launched an online cash aid initiative. The initiative is named as ‘At One Click’. The initiative was launched by the Chief Minister of Gujarat Vijay Rupani.
  • ‘At One Click’ is an online aid initiative for which the Gujarat Government has committed Rs 1,369 crore of financial aid for the MSMEs and bigger industrial units (including the textile industry).

IMF approves an emergency financial assistance worth 356.5 million dollars for Myanmar

  • The IMF Executive board has approved an emergency financial assistance worth 356.5 million dollars for Myanmar to address challenges posed by the COVID 19 pandemic.
  • The assistance for Myanmar has been approved under the Rapid Credit Facility and Rapid Financing Instrument to meet the urgent balance of payment and fiscal needs of the country. It will also support the government’s plans to boost spending especially on health and social safety nets.

Indian Navy inducts indigenously developed anti-torpedo decoy system Maareech

  • The Indian Navy has inducted an advanced anti-torpedo decoy system called ‘Maareech’.
  • ‘Maareech’ has been designed and developed indigenously by the Defence Research and Development Organization (DRDO) and it is capable of detecting, locating and neutralizing incoming torpedo.

PhonePe partners with ICICI Bank on UPI Multi-Bank

  • PhonePe, India’s leading digital payments platform, announced that it has partnered with ICICI Bank on UPI multi-bank model giving its users the option to create and use multiple UPI IDs with ICICI Bank’s “@ibl” handle and YES Bank’s ‘@ybl’ handle on the PhonePe app.
  • This addition, in partnership with ICICI Bank, enables quick and contactless payments to over 200 million registered PhonePe users.

Piyush Goyal chairs 49th Governing Council Meeting of National Productivity Council

  • Shri Piyush Goyal, Commerce & Industry Minister and President of NPC Governing Council chaired the 49th Governing Council Meeting of National Productivity Council (NPC).
  • NPC is an autonomous body which comes under the Department for Promotion of Industry & Internal Trade (DPIIT), Ministry of Commerce & Industry, Government of India.
  • The participants in the meeting put forward various suggestions such as interlinking of academia and industry for creation of a highly skilled labor force, identification of Champion sectors which has the potential to drive the economy.

Reserve Bank of India extends enhanced borrowing limit to banks under MSF till Sept 30

  • The Reserve Bank of India (RBI) has decided to extend the enhanced borrowing facility provided to the banks to meet their liquidity shortages till September 30.
  • The RBI, as a temporary measure, had increased the borrowing limit of scheduled banks under the marginal standing facility (MSF) scheme from 2 per cent to 3 per cent of their Net Demand and Time Liabilities (NDTL) with effect from March 27, 2020.
  • Under the MSF, banks can borrow overnight funds at their discretion by dipping into the Statutory Liquidity Ratio (SLR).
  • The marginal standing facility rate currently stands at 4.25 per cent. The RBI has also extended the relaxation on the minimum daily maintenance of the Cash Reserve Ratio (CRR) at 80 per cent for a further period of three months till September 25, 2020.

Sero survey in Delhi begins to map exposure to coronavirus

  • As a part of one of the five aspects of the revised COVID-19 response plan of New Delhi, the Delhi Government jointly with National Centre for Disease Control will conduct the Sero Survey across the National Capital from 27th June 2020.
  • ELISA (Enzyme-linked immunosorbent assay) based antibody kit developed by the National Institute of Virology (NIV) will be used for the Survey.
  • A Sero Survey is for determining the presence of antibodies in the blood sample of an individual. The presence of the COVID-19 Immunoglobulin G (IgG) antibody in the blood sample of an individual will suggest past exposure to the COVID-19 virus.

Vini Mahajan is Punjab’s first woman Chief Secretary

  • The Punjab government appointed 1987 batch Indian Administrative Service(IAS) Officer Vini Mahajan as the Chief Secretary, by which she becomes the 1st woman to hold this post.
  • With her elevation it is also for the first time in Punjab’s history that both the civil and police administrations in the state are headed by an IAS-IPS couple. Mahajan is the wife of state DGP Dinkar Gupta.

WHO-led coalition needs $31.3 bn to fight COVID-19

  • A coalition led by the World Health Organization (WHO) to combat the outbreak of the COVID-19 pandemic has informed on 26th June 2020 that it would require USD 31.3 billion in the next 12 months for continuing its fight against the pandemic.
  • The coalition is known by the name ACT-Accelerator initiative, where ACT stands for Access to COVID-19 Tools. The ACT-Accelerator was launched in April 2020 as a global initiative by the WHO. Under the initiative, the coalition intends to develop 2 billion doses of COVID-19 vaccines by the end of 2021.

Yes Bank launches mobile payment app 'Yuva Pay’

  • Yes Bank launched its digital wallet solution ‘Yuva Pay’ in partnership with UDMA Technologies to enable contactless payments for its customers.
  • The digital wallet issued under minimum KYC regulations to Yes Bank will offer bill payments via Bharat Bill Pay and provide Unified Payments Interface (UPI) facility to customers.
  • For feature set users, Yuva Pay will leverage Interactive Voice Response Services (IVRS) wherein all transactions are processed securely via OTP and T-PIN (telephone pin) authentication.