Current Affairs 9 May 2020

We are here for you to provide the important Recent and Latest Current Affairs 9 May 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.

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Top 15 Current Affairs of 9 May 2020

NATIONAL AFFAIRS

Nitin Gadkari sets road construction target for next 2 years at Rs 15 lakh crore during virtual meet of MoRTH & SIAM

i.The objective of the meet was to discuss challenges being faced by the auto industry affected by COVID-19 pandemic along with few suggestions and requested support from the government to keep the smooth working of the sector.
ii.A focus on enhancing liquidity in auto business is required by exploring cheaper credits including foreign capital.
iii.During the meeting it was also informed that MoRTH officials are finalizing the scrappage policy for old vehicles as early as possible that will help in cost reduction….Click here to Read More
About Ministry of MSME:
Minister of State– Pratap Chandra Sarangi
About SIAM:
President– Rajan Wadhera
Headquarter– New Delhi

Defence Minister Rajnath Singh inaugurates 80 km link road for Kailash Mansarovar through VC

Defence Minister Shri Rajnath Singh has inaugurated 80km strategically crucial road link connecting Lipulekh pass (China Border) with Dharchula in Uttarakhand through video conferencing (VC).
i.It will help pilgrims visiting Kailash Mansarovar in Tibet as it is around 90 kms from the Lipulekh pass….Click here to Read More
About Ministry of Defence:
Headquarters– New Delhi
Minister of State– Shri Shripad Yesso Naik

SC Ruling: Cooperative banks come under SARFAESI Act, 2002; Parliament can prescribe recovery process for cooperative banks

i.Section 2(1)(c) of SARFAESI Act of 2002 empowers the cooperative banks with recovery procedures including seize and sell defaulters’ assets. The recovery procedure u/s (under section) 13 of the Act is also applicable to such banks.
ii.Constitution Bench: This 159-page unanimous judgement has been passed by a constitution bench headed by Justice Arun Mishra which also included justices Indira Banerjee, Vineet Saran, Mukesh kumar Rasikbhai Shah and Aniruddha Bose.
About SARFAESI Act, 2002:
The Act prescribes a procedure for faster recovery of dues. It allows secured creditors to take possession of the assets of a borrower who fails to pay dues within 60 days of demanding repayment….Click here to Read More

Raksha Mantri Shri Rajnath Singh approves abolition of 9,304 posts in Military Engineering Service

i.On the recommendation of the Committee of Experts (CoE), headed by Lt General DB Shekatkar, Raksha Mantri (Minister of Defence) Rajnath Singh has approved the proposal of Engineer-in-Chief of Military Engineering Services (MES), Lt Gen Sanjeev Kumar Shrivastava, for abolition of 9,304 posts in MES.
ii.The recommendations by the committee, if implemented over the next five years, can result in savings of up to Rs 25,000 crore in defence expenditure.
About MES:
The MES, which is a part of the Indian Army, provides rear line engineering support to the Armed Forces. It is one of largest construction and maintenance agencies in India….Click here to Read More

BANKING & FINANCE

AIIB grants $500 mn loan to India to deal with coronavirus disaster

Asian Infrastructure Investment Bank (AIIB) has approved a loan worth of $500 million for India’s ‘COVID-19 Emergency Response and Health Systems Preparedness Project’ to assist nation’s efforts to stop the risk posed by coronavirus (Covid-19).This is the first-ever health sector support from AIIB to India.
i.Co-financed by the World Bank (WB), the loan will help India to scale up efforts to restrict the transmission of instances, strengthen the public health system….Click here to Read More
About Asian Infrastructure Investment Bank (AIIB):
Headquarters– Beijing, China
Membership– 102 approved Members
President– Jin Liqun

NABARD disburses Rs 12,767 crore to State Co-op Banks & RRBs to extend credit to farmers

The National Bank for Agriculture and Rural Development(NABARD) disburses Rs 12,767crore to State Co-operative(Co-op) Banks & Regional Rural Banks(RRBs) across the country to increase their resources for extending credit to farmers during the lockdown due to the outbreak of COVID-19 pandemic….Click here to Read More
About NABARD:
Headquarters– Mumbai, Maharashtra
Chairman– Harsh Kumar Bhanwala

ECONOMY & BUSINESS

Moody’s slashes India’s GDP growth to zero in FY 21 from 2.6%

On May 8, 2020, Moody’s slashed down India’s Gross Domestic Product(GDP) growth to zero for the current fiscal 2020-21 from its earlier forecast of 2.6%. In 2021-22 India’s GDP growth rate will bounce back to 6.6%….Click here to Read More
About Moody’s:
Headquarters– NewYork, United States
President & CEO– Raymond W. McDaniel, Jr.

Coir Board signs MoU with IIT Madras to establish CoE for Coir applications

On May 7, 2020, Ministry of MSME (Micro, Small and Medium Enterprises) announced the signing of a Memorandum of Understanding (MoU) between the Coir Board and IIT (Indian Institute of Technology) Madras for setting up a Centre of Excellence (CoE) to boost the use of Coir applications….Click here to Read More
About MSME:
Headquarters– New Delhi.
Union Minister– Nitin Jairam Gadkari (Constituency- Nagpur, Maharashtra).
Minister of State (MoS)– Pratap Chandra Sarangi (Constituency- Balasore, Odisha).

   APPOINTMENTS & RESIGNATIONS         

Yes Bank appoints Neeraj Dhawan as chief risk officer

On 1st May 2020, the Yes Bank appointed Neeraj Dhawan, as Chief Risk Officer(CRO) for a period of three years with immediate effect replacing Ashish Agarwal, the current Chief Risk Officer….Click here to Read More
About Yes Bank:
MD & CEO– Prashant Kumar
COO– Anita Pai
Headquarters– Mumbai
Founded– 2004

ACQUISITIONS & MERGERS       

US-based Vista Equity Partners to buy 2.32% stake in Jio Platforms for  Rs 11,367 crore

The US-based private equity firm Vista Equity Partners to buy 2.32% stake in Reliance’s  Jio Platforms, for Rs 11,367 crore which will make Vista the largest investor in Jio Platforms after Reliance Industries and Facebook….Click here to Read More
About Vista Equity Partners:
Founder, Chairman & CEO– Robert F. Smith
About Reliance:
Corporate Office– Mumbai, Maharashtra
Chairman & Managing Director(MD)– Mukesh D. Ambani

SCIENCE & TECHNOLOGY

China successfully launches ‘Long March 5B’ rocket to space as it steps up Moon landing plans

China has successfully launched a powerful white-large cargo rocket ‘Long March 5B’and prototype spacecraft towards the space from the Wenchang Space Launch Center on the coast of southern China’s island province of Hainan at 6 p.m. (Beijing Time).
i.It was China’s ambitious major test to operate a permanent space station and send astronauts to the moon….Click here to Read More
About China:
Capital– Beijing
Currency– Renminbi
President– Xi Jinping

JNCASR Researchers Invent Economical, Energy-Efficient Wafer-Scale Photo detector for security

On 8th May 2020, the Researchers of Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) under the Department of Science and Technology, for security applications, invented an economical and energy efficient wafer-scale photo detector to detect weak scattered light and indicate unwanted activity. The photo detector is self powered and has fabricated gold-silicon which are highly photosensitive….Click here to Read More
About JNCASR:
Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR) is a multidisciplinary research institute
President– G U Kulkarni
Dean Research & Development– Chandra bhas Narayana
Location– Jakkur, Karnataka

IMPORTANT DAYS

World Red Cross and Red Crescent Day 2020, May 8

Globally May 8th is celebrated as the World Red Cross Day and Red Crescent Day every year this day is to celebrate and acknowledge the volunteers who help the people in need and to commemorate the birth anniversary of Henry Dunant the founder of International Committee of the Red Cross(ICRC) born on 8 May 1828. The first Red Cross Day was adopted on May 8, 1948….Click here to Read More
About ICRC:
President– Peter Maurer
Vice President– Gilles Carbonnier
Founder– Henry Dunant
Headquarters– Geneva, Switzerland
Created in– 1863

World Thalassaemia Day 2020: May 8

World Thalassaemia Day (WTD) is observed every year on May 8 globally, to create awareness about the disease and help thalassaemia patients to lead a normal life despite the burden of the disease. Due to the COVID-19 pandemic, World Thalassaemia Day 2020 will be celebrated through different online activities.
Theme for the year 2020: “The dawning of a new era for thalassaemia: Time for a global effort to make novel therapies accessible and affordable to patients”….Click here to Read More
About Thalassaemia International Federation (TIF):
President– Mr Panos Englezos.
Executive Director– Dr Androulla Eleftheriou.

World Hand Hygiene Day 2020: May 5

World Hand Hygiene Day is observed every year on May 5 globally. The day is organized by the World Health Organization (WHO). The main aim of the day is to make people across the globe more aware of the importance of hand hygiene in health care facilities, thus protecting health care workers and patients from infections.
Theme for the year 2020: “SAVE LIVES: Clean your hands”….Click here to Read More
About World Health Organization (WHO):
Headquarters– Geneva, Switzerland.
Director-General– Tedros Adhanom Ghebreyesus.

STATE NEWS

UP passes ordinance to suspend most Labour Laws for 3 years

The Uttar Pradesh(UP) government has passed an ordinance ‘Uttar Pradesh Temporary Exemption from Certain Labour Laws Ordinance, 2020’, to suspend most of the labour laws for 3 years, where all factories & manufacturing  establishments will be exempt from existing labour laws except few….Click here to Read More
About UP:
National Parks (NP)– Dudhwa NP, Lakhimpur Kheri
Wildlife Sanctuary (WS)– Katarniaghat WS, Bahraich; Chambal WS,  Etawah; Chandra Prabha WS, Chandauli.
Tiger Reserve (TR)– Pilibhit TR, Pilibhit district

Yogi Adityanath launches ‘Pravasi Raahat Mitra’ app for migrant Workers

On 8th May 2020, Chief Minister Of Uttar Pradesh Yogi Adityanath launched the ‘Pravasi Raahat Mitra’ mobile application developed by the state revenue department in collaboration with United Nation Development Program to provide support for the migrant workers of Uttar Pradesh in other states to access the advantages of the government schemes. The app collects basic information like, name, address, bank details and others of the people….Click here to Read More
About Uttar Pradesh
Chief Minister(CM)– Yogi Adityanath
Governor– Anandiben Mafatbhai Patel
Capital– Lucknow
Official Animal– Barasingha
Official Bird– Sarus crane

Himanta Biswa Sarma presented Rs 1,03,762 cr Assam Budget for FY 2020-2021

i.Assam finance minister Himanta Biswa Sarma presented Budget for Assam for the financial year 2020-21.
ii.Gross State Domestic Product of Assam: At current prices is projected to be Rs 4,08,627 crore.
iii.Total expenditure: For 2020-21 it is estimated to be Rs 1,03,762 crore.
iv.Total receipts (excluding borrowings): These are estimated to be Rs 92,231 crore….Click here to Read More
About Assam:
Capital– Dispur
State animal– One-horned rhinoceros
State bird– White-winged duck

AC GAZE

UP becomes first state to provide facility of beds with ventilators in each district

Uttar Pradesh(UP)  has become the first state in the country to provide the facility of beds with ventilators in hospitals of  all 75 districts of state.In order to curb the spread of COVID-19 in every village through community surveillance, the government has constituted a Village Supervision Committee or Gram Nigrani Samiti.

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