Daily Current Affairs - 05th Jul 2020

ADB Becomes Observer Of Network For Greening The Financial System

  • The Asian Development Bank (ADB) has joined the central banks and supervisors Network for Greening the Financial System (NGFS) as an observer.
  • NGFS, launched at the Paris One Planet Summit on December 12, 2017, is a group of central banks and supervisors willing to share best practices and contribute to the development of environment and climate risk management in the financial sector while mobilising mainstream finance to support the transition toward a sustainable economy.
  • ADB joins the ranks of the World Bank, the International Finance Corporation, the International Monetary Fund, and the Organisation for Economic Cooperation and Development as NGFS observers.

AIR begins broadcast of its first ever news magazine programme in Sanskrit

  • All India Radio (AIR) FM news channel broadcasted its first-ever news programme in Sanksrit language for 20 minutes duration. All India Radio has named the news programme ‘Sanskrit Saptahiki’.
  • Sukti, Prasang, Saptahiki, Sanskrit Darshan, Gyan Vigyan, Bal Vallari, Ek Bharat -Shreshtha Bharat and Anvikshiki will be featured in the News Magazine.

Banks disburses over Rs 50,000 crore loans to MSMEs under credit guarantee scheme

  • The finance ministry said banks have disbursed Rs 52,255.53 crore loans under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector reeling under economic slowdown caused by the COVID-19 pandemic.
  • This is against the sanction of Rs 1.10 lakh crore under the 100 per cent ECLGS for micro, small and medium enterprises (MSMEs).
  • Under ECLGS, banks were incentivized so that credit of up to Rs 3 lakh crore can be provided to MSMEs and businesses across the country.
  • National Credit Guarantee Trustee Company (NCGTC) will be providing a 100 percent guarantee for the loans sanctioned by the banks under the ECLGS.

China's 2-time Olympic Champion and Badminton Legend Lin Dan Announces Retirement

  • China's two-time Olympic badminton champion Lin Dan, one of the sport's greatest singles players, announced his retirement.
  • The 37-year-old, who won the Olympics singles titles in Beijing in 2008 and the 2012 London Games, has won all the sport's major titles, including five world championships' gold medals.
  • He is nicknamed as “Super Dan” by world badminton fans. He became the 1st and only player to complete the “Super Grand Slam”.

Delhi govt launches e-learning portal for school children

  • Delhi Deputy Chief Minister and education minister Manish Sisodia launched an e- portal, ‘Learning through E-Resources Made Accessible for Delhi’(LEAD) for its students to strengthen the children’s online education.
  • It is developed by the State Council of Educational Research and Training (SCERT), the Delhi government.
  • The state government will upload its curriculum and share teaching-learning material on the ministry of Human Resource Development’s(HRD) online platform, DIKSHA through this portal.

Himachal Pradesh to provide tap connections to all rural households by 2022

  • Himachal Pradesh is planning 100% coverage by August 2022, ahead of national goal by 2024.
  • By doing so, Himachal Pradesh will be one of the leading states to accomplish the ambitious target of providing tap connection to each rural household.
  • The State Government of Himachal Pradesh has set a target to provide 2.44 lakh rural households with Functional Household Tap Connection (FHTC) during the current Financial Year 2020-21 out of the remaining 7.52 lakh.

IndiaFirst Life to offer exclusive COVID-19 and Hospital Cash Cover to Bank of Baroda Credit Cardholders

  • IndiaFirst Life Insurance Company Limited (IndiaFirst Life), promoted by Bank of Baroda and Union Bank of India, has associated with BOB Financial Services Limited (BOB Financial), a wholly owned subsidiary of Bank of Baroda, to offer a unique group insurance covering that provides financial support upon hospitalisation or on COVID-19 diagnosis.
  • The cover will provide financial support to the BOB credit card customers upon their hospitalisation or on COVID-19 diagnosis.

India’s first NPNT compliant drone flight successfully completed

  • Mumbai based Quidich Innovation Labs Private Limited has announced that it has successfully completed the first No-Permission No-Takeoff (NPNT) compliant drone flight of India.
  • The drone used for the flight is an Asteria Aerospace (Bengaluru based company) manufactured A200 micro drone.
  • For Micro and above category drones, obtaining UIN was made compulsory for the operators and pilots of the drone. U0000001 is the UIN of the A200 micro drone that has completed the first NPNT compliant drone flight of India.

International Day of Cooperatives :4th July

  • The United Nations celebrates the International Day of Cooperatives every year on the first Saturday of July to increase awareness of cooperatives.
  • In the year 2020, the International Day of Cooperatives will be celebrated on 4th July with a focus on the contribution of cooperatives to combat climate change.
  • UN has also appealed to spread the word: “#Coops4ClimateAction” to celebrate the International Day of Cooperatives 2020.

KKR to acquire 54% stake in JB Chemicals for about $500 million

  • The United States-based global investment firm- Kohlberg Kravis Roberts (KKR) & Co. Inc. will buy the majority of 54 percent stake in JB Chemicals and Pharmaceuticals. 54 percent stake of Mumbai based JB Chemicals and Pharmaceuticals is worth Rs 3,109 crore.
  • In India, this will be the second investment by KKR in a space of two months. KKR has invested Rs 11,367 crore for a 2.32 percent stake in Reliance Industries Limited’s Jio Platforms. The investment in Jio Platforms was the largest Investment of KKR in Asia to date.

NLC India and Coal India to form 50:50 JV to develop solar and thermal power assets

  • A Navratna Company of Government of India- NLC India Limited has signed an agreement with a Maharatna Company- Coal India Limited to form a Joint Venture Company (JVC) for developing Solar and Thermal power assets. In the Joint Venture Company, both NLC and Coal India will have equal 50:50 equity.
  • Solar and Thermal power assets of 5000 megawatts (5 GW) will be developed by the joint venture company. The Joint Venture Company will be set up under Ministry of Coal.

Odisha to provide Rs 1,040 crore credit to 7 lakh landless farmers

  • The Government of Odisha launched 1st of its kind scheme, ‘Balaram’ to provide agricultural credit of Rs 1,040 crore to landless farmers facing hardships during COVID 19.The Scheme is designed in collaboration with National Bank for Agriculture and Rural Development (NABARD).
  • Around seven lakh landless cultivators will be benefited from the programme in the next two years.
  • The banking sector will be mobilised through the State Level Bankers Committee (SLBC) for extending credit support to farmers and sharecroppers who don’t get loans due to lack of resources.

PM launches Aatmanirbhar Bharat Innovation Challenge to identify the best Indian Apps

  • The Prime Minister Narendra Modi has launched Aatmanirbhar Bharat Innovation Challenge to identify the best Indian Apps that are already being used by citizens and have the potential to scale and become world class Apps in their respective categories.
  • Prime Minister Narendra Modi has urged people of tech community to participate in Aatmanirbhar Bharat App Innovation Challenge. This will run in two tracks- Promotion of Existing Apps and Development of New Apps.

President Ram Nath Kovind inaugurates Dharma Chakra Day

  • In partnership with the International Buddhist Confederation (IBC), the Union Ministry of Culture will be organizing the celebrations for the Dhamma Chakra Day.
  • After Buddha Poornima or Vesak, Dhamma Chakra Day is the second most sacred day in Buddhism.
  • The day is celebrated all over the world to commemorate the first sermon that Gautama Buddha gave to his five ascetic disciples (five monks). The first sermon by Gautama Buddha is recorded in Buddhist text- Dhammacakkappavattana Sutta. Gautama Buddha gave the first sermon at the Deer Park in Rsipatana (present-day Sarnath in Uttar Pradesh).


  • A Memorandum of Understanding (MoU) was signed between the non-profit organization UKIBC- UK India Business Council and the MIDC-Maharashtra Industrial Development Corporation. MIDC is the Maharashtra Government’s premier agency for industrial infrastructure development.
  • The MoU will help in strengthening the collaboration of Maharashtra Government with the businesses in the United Kingdom (UK), also it will proactively improve the business environment in the state.
  • UKIBC is headquartered in London and was founded in 1993 to foster, promote and increase the business relations and the bilateral trade between the two countries (the United Kingdom and India).