Current Affairs 29 August 2020

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Top 20 Current Affairs of 29 August 2020

NATIONAL AFFAIRS

Pradhan Mantri Jan-Dhan Yojana (PMJDY) Completed Six Years of Successful Implementation

i.On August 28, 2020, the 6th anniversary of Pradhan Mantri Jan Dhan Yojna (PMJDY) was observed which was launched on August 28, 2014. On this occasion, Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman reiterated the importance of this biggest financial inclusion initiative in the world. 
ii.The objective of PMJDY is to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.
iii.The Slogan of PMJDY is “Mera Khata – Bhagya Vidhaata.”
iv.It is operated by the Department of Financial Services under the Union Finance Ministry.
<<Read Full News>>

Union Minister Piyush Goyal addresses ASEAN-India Business Council Meet

i.On 28th August, 2020 Union Minister for Commerce and Industry, Piyush Goyal addressed the Association of SouthEast Asian Nations (ASEAN)-India Business Council Virtual Meet. He extended India’s friendship and partnership to ASEAN countries and expected to achieve a target of 300-billion-dollar trade through Business with them.
ii.He emphasized 3 C’s Cooperation, Collaboration & Commitment as guide for the strategic partnership between India and ASEAN countries. 
About ASEAN:
Secretary General – H.E. Dato Lim Jock Hoi 
Headquarters – Jakarta, Indonesia.
<<Read Full News>>

Indian Railways Set to Meet All its Energy Need of Over 33 Billion Units by 2030

i.On 27th August 2020, Indian Railways organised a discussion over a wide range of topics with the stakeholders, chaired by Piyush Vedprakash Goyal, Union Minister of Railways, to become 100% self-sustainable for all its energy needs and to contribute to the National Solar Mission of India.
ii.Indian Railways is set to meet its energy consumption which will be over 33 billion units by 2030.
iii.Indian Railways has developed a mega plan to install solar power plants of capacity 20 Gigawatt(GW) by utilising vacant lands by 2030.
About Ministry of Railways:
Union Minister– Piyush Goyal
Minister of State– Suresh Angadi Channabasappa
<<Read Full News>>

FM Nirmala Sitharaman chairs 41st GST Council Meeting to Discuss Compensation for Loss of Revenue to States

i.On August 27, 2020, the 41st meeting of goods and services tax (GST) Council, chaired by Union Finance Minister Nirmala Sitharaman, was held via video conferencing to discuss the issue of compensating states on account of revenue loss due to implementation of GST, and deficit in the compensation cess fund due to the fall in tax collections.
ii.During the meet, Centre offered two borrowing options to states to overcome shortfall in GST compensation cess fund viz:

• States can either borrow the full compensation deficit of Rs 2.35 lakh crore, which includes revenue loss due to transition to GST and also the Covid-led slowdown, from the markets, facilitated by the Centre and the RBI, or 
• The shortfall that’s purely due to GST implementation of Rs 97,000 crore via the RBI special window.

About GST Council:
GST Council is an apex member committee to modify or to procure any law or regulation based on the context of goods and services tax in India. The council is headed by the union finance minister Nirmala Sitharaman assisted with the finance minister of all the states of India.

• It was constituted on 15th September 2016 under Article 279A of the Constitution.

<<Read Full News>>

NITI Aayog Launches NDC–Transport Initiative for Asia(TIA) India Component 

On 27th August, 2020 NITI Aayog launched the India Component of the Nationally Determined Contributions (NDC)-Transport Initiative for Asia (TIA). The NDC-TIA India team will focus on establishing a multi-stakeholder dialogue for decarbonizing transport and providing technical support on Green House Gas emission reduction measures in India. India’s Think-Tank NITI Aayog will be the implementing agency in India.
About NITI Aayog:
Chief Executive Officer – Amitabh Kant
Headquarters – New Delhi
<<Read Full News>>

INTERNATIONAL AFFAIRS

Maldives Launches India backed Infrastructure Projects

i.On August 27, 2020, the government of Maldives launched India backed infrastructure projects viz. Hulhumale Central Park and renovation of the Arrival Jetty in Maldives during a ceremony which was attended by Foreign Minister Abdulla Shahid, Hulhumalé MP Ali Niyaz, High Commissioner Sunjay Sudhir, MD of Housing Development Corporation Limited (HDC) Suhail Ahmed and officials from the Ministry of Foreign Affairs of Maldives
ii.The project is being executed by the HDC through an approximate 10 million Maldivian Rupee grant assistance from India. 
iii.It is a part of 18 grant projects being funded by India in the Maldives under a total grant assistance of USD 6.9 million (MVR 106 million) extended in 2019.
About Maldives:
Capital– Male
Currency– Maldivian rufiyaa
President– Ibrahim Mohamed Solih
<<Read Full News>>

APPOINTMENTS & RESIGNATIONS       

Shinzo Abe, Prime Minister of Japan Resigned Due to Health Issues

On 28th August 2020, Shinzo Abe, Prime Minister of Japan announced his resignation owing to his worsening health condition due to ulcerative colitis. 65-year-old Shinzo Abe of Liberal Democratic Party(LDP) was the longest serving Prime Minister of Japan.
The elected new party leader will hold the post for the remaining 1-year term of Abe.
Note:
This is a 2nd time for Abe to resign with a year remaining in his stint.
Abe would be able to serve the rest of his term which end in September 2021
About Shinzo Abe:
i.He won his first Parliament seat in 1993.
ii.He was appointed to the cabinet for the first time as the Chief Cabinet Secretary in October 2005.
iii.He later became the Prime Minister of Japan in 2006.
iv.He was the Youngest Leader of Japan since World War II and he stepped down from his position due to ill health in 2007.
v.He was again elected and has been serving as the Prime Minister of Japan since December 2012.
About Japan:
Capital– Tokyo
Currency– Yen
UNESCO Heritage sites (natural)– Yakushima, Shirakami-Sanchi, Shiretoko, Ogasawara Islands.   

Vinay M Tonse Appointed as MD & CEO of SBI Funds Management Pvt. Ltd.; Replaced Ashwani Bhatia

Vinay M Tonse, appointed as the Managing Director(MD) and Chief Executive Officer(CEO) of SBI Funds Management Pvt. Ltd. (SBIFMPL). He replaced Ashwani Bhatia, DMD of SBI, who was appointed as MD(IT- Information Technology & SARG-Stressed Assets Resolution Group) of SBI.

• Since June 22, 2020 Vinay M Tonse was on deputation to SBIFMPL

About Vinay M Tonse
i.He started his career with SBI as a Probationary Officer(PO) in 1988.
ii.He has headed various business functions in different geographical locations in India and abroad and is an expert in handling and managing various areas of Banking like Operations, Retail Banking.
iii.Earlier to his deputation to SBIFMPL, he was heading the Chennai Circle of SBI as Chief General Manager (June 2018 to June 2020) and was responsible to manage all the branches and offices of SBI situated in Tamil Nadu and Puducherry
Other Key Positions held by him in SBI:

• General Manager, Corporate Accounts Group – II, Mumbai, Maharashtra from  November 2016 to June 2018
• Deputy General Manager, Equity & Commodities (Global Markets), Mumbai, Maharashtra from June 2013 to November 2016
• CEO of Osaka Branch, Japan from August 2009 to June 2013.

About Ashwani Bhatia
He started his career in 1985 as a PO in SBI. The following are the key Positions held by him:
Chief General Manager (SME) at SBI; President , Chief Operating Officer and Whole time director at SBI Capital Market Ltd
About SBIFMPL:
It is a joint venture between SBI and AMUNDI (France), one of the world’s leading fund management companies.
Headquarters– Mumbai, Maharashtra
Managing Director & Chief Executive Officer–  Vinay M. Tonse

ACQUISITIONS & MERGERS        

PAG to Acquire 51% Stake in Edelweiss Wealth Management for About Rs 2,200 Crore

Private equity (PE) firm PAG, (formerly known as Pacific Alliance Group (PAG)) to make a strategic investment of approximately Rs 2,200 crore (USD 300 million) for a 51 % stake in Edelweiss Wealth Management (EWM). PAG with this deal will become a majority owner of the EWM of Edelweiss Global Investment Advisors(which also houses Edelweiss Asset Management, India’s largest alternatives and asset reconstruction platform, which is not part of the investment). The EWM business includes investment banking and capital markets businesses.

• It is to be noted that this is the PAG’s 1st PE investment in India.

Key Info
i.This partnership will open up the value for shareholders and pave way for accelerated business growth powered by PAG’s capital, business expertise and global experience.
ii.After the customary regulatory approvals the investment is expected to close in 4 to 6 months, after which EWM will be demerged and listed.
iii.The investment is a part of the Edelweiss Group’s strategy to build independent capitalised and self-sufficient businesses.
Note– PAG expects to invest USD 1 billion in the next two to three years in India.
Additional Info

• EWM is the 2nd largest non-bank wealth management business in India.
• PAG is one of the world’s largest Asia-focused investment groups.

About Edelweiss Group:
Headquarters– Mumbai, Maharashtra
Chairman & CEO–  Rashesh Shah
About PAG:
Group Chairman and Chief Executive Officer– Weijian Shan
Headquarter – Hong Kong

SCIENCE & TECHNOLOGY

Narendra Singh Tomar launched Integration of “ICAR-IIHR Seed Portal with SBI’s YONO Krishi Web Application 

i.On August 26, 2020, Narendra Singh Tomar, Union Minister of Agriculture & Farmers’ Welfare virtually launched the integration of State Bank of India’s (SBI) YONO (You Only Need One) Krishi platform with government’s online seed portal Indian Council of Agriculture Research (ICAR) and Indian Institute of Horticulture Research (IIHR) to help the farmers i in increasing the crop production along with the crop quality and income generation.
ii.With this integration farmers will also be able to purchase seeds certified by the research institute.
iii.The Guest of Honor of this virtual launch event was Rajnish Kumar, Chairman, SBI.
About ICAR-IIHR:
Director- Dr. M.R. Dinesh
Head Office– Bengaluru, Karanataka
<<Read Full News>>

SPORTS

Sri Lanka Cricketer Tharanga Paranavitana retires from International Cricket

On 27th August, 2020 Sri Lankan Opening batsman Nishad Tharanga Paranavitana announced retirement from all forms of International Cricket at the age of 38. 
i.He has represented Sri Lanka in 32 Test Matches scoring 1792 runs including two hundreds and 11 fifties.
ii.He is Sri Lanka’s highest ever run-getter in first-class cricket with 12, 522 runs.
iii.Paranavitana made his debut against Pakistan in February 2009 and played his final game for the national team in November 2012.

West Indies Cricketer Dwayne Bravo becomes first bowler to scalp 500 wickets in T20s

On 26th August, 2020 West Indies All-Rounder Dwayne John Bravo became the first bowler in Cricket to scalp 500 wickets in Twenty20 (T20s). He achieved the feat in the Carribean Premier League (CPL)2020 match between his team Trinbago Knight Riders and St Lucia Zouks. 
Bravo took the wicket of Rahkeem Cornwall (18) to register his 500th wicket.
i.Dwayne Bravo achieved the feat in his 459th match in the shortest format.
ii.The pacer has taken wickets at an average of 24.62 and an economy rate of 8.25.
iii.Sri Lanka’s Lasith Malinga is the second-highest wicket-taker in T20 cricket with 389 scalps from 339 matches followed by Sunil Narine (383), Imran Tahir (374), and Sohail Tanvir (356).

Bayern Munich Won the UEFA Championship League 2019-20

On 23rd August 2020, Bayern Munich (FC Bayern München), German football club won their 6th Championship in the Union of European Football Associations(UEFA) Champions League 2019-20. Bayern Munich became the champions of Europe by defeating the first time finalists Paris Saint Germain(PSG) 1- 0 at the finals held in Estadio da Luz, Lisbon, Portugal.
Key Points:
i.32 teams participated in the UEFA Championship league 2019-2020, the 65th season of Europe Premier Club Football Tournament organised by UEFA.
ii.The League began on 25th Jun 2019 and concluded on 23rd August 2020.
Highlights:
i.Bayern München made 11 out of 11 in the competitions this season and became the first team to do so.
ii.Kingsley Coman,French footballer, scored the 500th goal for FC Bayern München scored in  UEFA Champions League and became the third side to do so in the competition after Barcelona (517) and Real Madrid (567).
iii.Robert Lewandowski, striker of Bayern Munich became the top scorer of this season with 15 goals.
About UEFA:
President– Aleksander Čeferin
General Secretary- Theodore Theodoridis
Headquarters– Nyon, Switzerland

Ayaka Takahashi, Japan’s 1st Olympic Gold medalists in Badminton Announces Retirement

Japan’s Ayaka Takahashi, who won gold medal(Japan’s 1st gold medal in badminton) in Rio Olympics in 2016 Women’s Doubles Badminton along with Misaki Matsutomo, announced that she will end her career(retires) on August 31, 2020 as she has a doubt whether her inner fire and body will get through another year. She cited the postponement of the Tokyo Olympics 2020 to 2021 due to the COVID-19 pandemic as one of the reasons.
Key Info
i.Ayaka Takahashi played with Misaki Matsutomo for over 10 years. They won 5  national championships between 2011 and 2016 and remained the world No. 1 pair for 18 months.
ii.The pair is nicknamed “Takamatsu”,  has won many titles at the international stage and has been a dominant pair in the women’s doubles category.
iii.They won gold medal in Olympics after beating Denmark’s Christinna Pedersen and Kamilla Rytter Juhl 2-1 .

OBITUARY

Veteran Assamese Folk Singer Archana Mahanta Passed Away

Veteran Assamese folk singer Archana Mahanta passed away at the age of 72  in Health City hospital, Guwahati, Assam following a brain stroke. She was also a reputed artist of All India Radio(Guwahati). She is the wife of late Khagen Mahanta( known as ‘Bihu King’) and mother of Angaraag ‘Papon’ Mahanta, popular Indian singer and founder of the folk-fusion band Papon and The East India Company
Key Info
i.She and her late husband had performed together on many occasions, popularising Assamese folk music. 
ii.The pair is known for their performance of Bihu and traditional folk songs of Assam.
iii.Their family represents one of the most influential families in Assamese music.
iv.Apart from Angaraag ‘Papon’ Mahanta she has a daughter, Kingkini Mahanta.

Former Supreme Court Judge Justice A.R. Lakshmanan Passed Away

Former Supreme Court judge Justice, A.R. Lakshmanan(full name- Arunachalam Lakshmanan), died at the age of 78 in a private hospital in Trichy(Tiruchirappalli or Tiruchi), TamilNadu following a heart attack. Currently he was the sitting representative of Tamil Nadu in the Mullai Periyar Panel headed by Justice A.S.Anand. He served as the chairman of the Law Commission (18th Law Commission) after his retirement. He was born in Devakottai in Sivaganga district, TamilNadu on March 22, 1942.
About A.R. Lakshmanan
Graduation & Enrollment as Advocate
He got a degree in law from the Madras Law College in 1966, after which he enrolled as an advocate in 1968.
Judge & Other post
In 1990 he was appointed as the judge of Madras High Court, before which he had  served as a government pleader, Tamil Nadu government and also as a standing counsel to banks 
Chief Justice
He was elevated as the Chief Justice of Kerala High Court in 1997. He served as the Chief Justice of the Rajasthan High Court & Andhra Pradesh High Court in 2000 & 2001 respectively.
Supreme court judge- He was appointed as the supreme court judge on  December 20, 2002 and retired on March 22, 2007.
Books- He has authored several books in Tamil and English which include ”Neethiyin Kural (The voice of justice) and ”The Judge Speaks,” a compilation of lectures on various judicial and social issues.
Note- He was a part of a bench that banned smoking in public places. 

STATE NEWS

Assam Cabinet Approves ‘Assam Skill Development University Bill’

On 27th August, 2020 the Government of Assam approved the ‘Assam Skill Development University Bill’, which provides for setting up of World Class Skill University at Mangaldoi, Darrang District at a cost of 900 crore rupees.
Assam Industry and Commerce Minister Chandra Mohan Patowary made the announcement about the setting up of the university, after a cabinet meeting.
The University will be the first of its kind in the North-East Region and will be financed by Asian Development Bank (ADB).
About Assam:
Capital – Dispur
UNESCO World Heritage Site – Kaziranga National Park, Manas Wildlife Sanctuary.
<<Read Full News>>

Kerala CM Pinarayi Vijayan Inaugurates State’s First Marine Ambulance ‘Pratheeksha’ in Kochi

On 26th August, 2020 Kerala Chief Minister Pinarayi Vijayan inaugurated the State’s First fully equipped Marine Ambulance ‘Pratheeksha’. It was acquired by the Fisheries Department at Kochi for rescue operations at sea. ‘Pratheeksha’ – built by Cochin Shipyard Ltd (CSL) is the first of the three marine ambulances ordered by the state.
About Kerala:
Governor – Arif Mohammad Khan
National Parks – Eravikulam National Park, Silent Valley National Park, Pampadum Shola National Park, Mathikettan Shola National Park, Anamudi Shola National Park.
<<Read Full News>>

JK Government Launches E-Auction Portal for Kashmir Saffron

On 28th August 2020, The government of Jammu and Kashmir launched the e-auction portal www.saffroneauctionindia.com created by its department of agriculture to promote the trade of Kashmir Saffron. The department under the aegis of India International Kashmir Saffron Trading Centre (IIKSTC) in partnership with NSE-IT established the portal.
Aim:
i.To promote the e-trading of Geographical Indications(GI) tagged “Kashmir Saffron” between registered growers and buyers.
ii.To ensure the access to quality “Kashmir Saffron” to the buyers.
Key Points:
i.The e-auction portal will avoid the interference of any middlemen and secure a better price for the produce of the farmers.
ii.The saffron will be tested by the centre, which has the facilities to dry the Saffron with the use of the latest technology vacuum.
iii.This Saffron will be packed with code to prevent manipulation.
Recent Related News:
i.J&K Lt Governor launches salary tracker mobile app “MeraVetan (Version – 1)” for government employees
ii.Jammu and Kashmir, launched a Student Health Card scheme for school children aimed to improve the health and overall wellbeing of over 12 lakh students of government schools.
About Jammu & Kashmir:
National Park– Dachigam National Park, Kishtwar high altitude National Park, Dachigam National Park, Kazinag National Park, Salim Ali National Park or City Forest National Park
Wildlife sanctuary– Overa Aru Wildlife Sanctuary, Achabal Wildlife Sanctuary, Hirpora Wildlife Sanctuary, Ramnagar Wildlife Sanctuary, Nandini Wildlife Sanctuary.

UPEIDA Signed a Deal with BOB-led Consortium of 6 Banks to Fund Bundelkhand Expressway Project

On 25th August 2020, The Uttar Pradesh Expressway Industrial Development Authority (UPEIDA) signed a deal with the consortium of 6 banks led by Bank of Baroda (BoB) for  funding construction of Bundelkhand Expressway project.

• This deal will boost the funding and construction works of the project.
• This will also create job opportunities on the local baiss in the villages amid the global pandemic.

6 bank consortium:
The consortium of banks includes Bank of Baroda, Union Bank of India, Bank of Maharashtra, Indian Bank, Bank of India and UCO Bank.
Bank of Baroda accepted the leadership of this consortium.
UPEIDA, which is responsible for the construction of the Bundelkhand Expressway project, has taken a loan of Rs.5900 crores from 6 banks.
Bundelkhand Expressway project:
i.The foundation of the 296 kilometer Bundelkhand Expressway project was laid by Prime Minister Narendra Modi in Chitrakoot, Uttar Pradesh(UP).
ii.This four lane expressway, expandable to 6 lanes that connects the Bundelkhand area to New Delhi through Yamuna Expressway and Agra-Lucknow Expressway will boost the infrastructure of UP.
iii.The construction of the expressway was divided into six phases which will be handled by APCO Infratech(1&2 phase), Ashoka Buildcon(3rd Phase), Gawar Construction Limited (4th & 5th Phase) and Dilip Buildcon(6th Phase).
About UPEIDA:
CEO– Awanish Kumar Awasthi
Additional CEO– Shrish Chandra Verma
Headquarters– Lucknow, Uttar Pradesh

‘Iraada’ Campaign Launched to Cover Eligible Left-Out Beneficiaries under Social Welfare Schemes: J&K

In Jammu and Kashmir, Dr Sagar D. Doifode , Doda District Deputy Commissioner(DCC) launched ‘Iraada’ campaign to include eligible left-out beneficiaries, who have not yet been enrolled to receive the financial assistance benefits under various social welfare schemes, which includes old age pension, widow and handicap scheme. In other words, the campaign is for 100% coverage under social welfare schemes.
Key Info
i.Dr Sagar D. Doifode appealed to the Panchayati Raj Institutions (PRIs) and Civil Society members to help the administration to identify left-out beneficiaries.
ii.People through call( 9596989834, 9906109868, 9797505101) can submit full details so that their names shall be verified and accordingly submitted for further course of action.
Recent Related News:
i.The Union Home Minister, Amit Shah launched ‘Vriksharopan Abhiyan’ the tree plantation campaign of the Coal Ministry in the presence of Shri Pralhad Joshi, Union Minister of Coal, Mines and Parliamentary Affairs.
ii.United Nations Children’s Fund (UNICEF) India joined hands with Federation of Indian Chambers of Commerce and Industry’s (FICCI) Socio Economic Development Foundation (SEDF) to initiate UNICEF’s “#Reimagine Campaign” for the support of most vulnerable populations and children during the ongoing COVID-19 response and its aftermath in India.
About Jammu and Kashmir:
Lt Governor– Manoj Sinha
Capital– Jammu(winter), Srinagar(summer)

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