Current Affairs 1 August 2020

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Top 15 Current Affairs of 1 August 2020

NATIONAL AFFAIRS

AIM launched ‘AIM-iCREST’, in partnership with Bill & Melinda Gates Foundation and Wadhwani Foundation

i.On July 30, 2020, NITI (National Institution for Transforming India) Aayog’s Atal Innovation Mission (AIM), has launched AIM iCREST – an Incubator Capabilities enhancement program for a Robust Ecosystem focused on creating high performing Startups in collaboration with Bill & Melinda Gates Foundation and Wadhwani Foundation, which will provide global expertise.
ii.This is a first of its kind initiative for advancing innovation at scale in India. 
About Wadhwani Foundation:
President and Chief Executive Officer (CEO)– Ajay Kela
Chairman– Dr. Romesh Wadhwani
About NITI Aayog:
Establishment– 2015
Chief Executive Officer (CEO)– Amitabh Kant
Headquarters– New Delhi
<< Read Full News >>

Piyush Goyal Inaugurates CII National Digital Conference on “Easing Doing Business for Atmanirbhar Bharat”

On 30th July 2020, Piyush Goyal, Union Minister of Commerce and Industry, inaugurated the National Digital Conference on “Easing Doing Business for Atmanirbhar Bharat” organised by the Confederation of Indian Industry (CII) with the Department for Promotion of Industry and Internal Trade (DPIIT) to improve the business environment of India.
About Confederation of Indian Industry(CII):
Presiden– Uday Kotak
President Designate– T V Narendran
Director General– Chandrajit Banerjee
Headquarters– New Delhi
<< Read Full News >>

Prakash Javadekar represents India in 6th BRICS Environment Ministers’ Meeting

i.On 30th July 2020, Prakash Javadekar, Union Minister of Environment, Forest and Climate Change (MoEF&CC) participated in the 6th BRICS Environment Ministers’ Meeting under the presidency of Russia along with the Environment minister of Brazil, Russia, China and South Africa over a virtual platform from New Delhi. 
ii.The BRICS nations called the initiative to improve the environment and promote the circular economy in national plans for economic recovery after COVID-19.
About BRICS:
Presidency– Russia (India will assume the Presidency of BRICS in 2021)
Members– Brazil, Russia, India, China and South Africa
Establishment-2009
Theme for 2020- “BRICS Partnership for Global Stability, Shared Security and Innovative Growth”.
<< Read Full News >>

BANKING & FINANCE

SIDBI, TransUnion CIBIL launched financial knowledge platform ”MSMESaksham” for MSMEs

i.The Small Industries Development Bank of India (SIDBI) in association with TransUnion CIBIL 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. 
ii.The portal will have a consolidated list of all the schemes launched by the Centre and state governments for MSMEs. 
About SIDBI:
Chairman and Managing Director (CMD)– Mohammad Mustafa
Headquarter– Lucknow, Uttar Pradesh (UP)
About TransUnion CIBIL:
Headquarter– Mumbai, Maharashtra
<< Read Full News >>

Craft Silicon & PayU Partnered to Advance Digital Loan Repayment 

i.Craft Silicon, a global financial software solution provider has entered into a strategic partnership with PayU, India’s online payment solutions provider to innovate and accelerate the digital loan repayment solutions for small finance banks, micro-lending institutions and Non Banking Financial Company (NBFC).
ii.The partnership will enable NBFCs, Micro Finance Institutions (MFIs), and small finance institutions to  offer their customers easy loan repayment solutions on their own mobile applications or through consumer apps of their choice.
About Craft Silicon 
HeadOffice- Nairobi, Kenya
Founder and Chief Executive Officer(CEO)– Kamal Budhabhatti
About PayU:
Headquarters– Netherlands
CEO– Laurent le Moal
<< Read Full News >>

Kotak Mahindra Bank Launched a Two-Month Campaign, ‘Kona Kona Umeed’ with Offers, Discounts

Kotak Mahindra Bank has launched a special two-month campaign, ‘Kona Kona Umeed’ with offers and discounts across its suite of products to make banking and shopping more rewarding for the customers so as to boost consumer demand and lift people’s enthusiasm during this pandemic situation.

• Kotak has also tied up with over 100 brands to provide exclusive deals to its customers in categories such as shopping, essentials, personal care, education and fitness among others.

About Kona Kona Umeed
i.The campaign provides offers and discounts for its products including for loans, savings accounts, current accounts, corporate salary accounts, deals on Kotak debit cards, credit cards and digital payments among others.
ii.It also includes competitive rates and attractive offers across customer segments including retail, business and agri segments.
About Kotak Mahindra Bank:
Headquarters– Mumbai, Maharashtra
Managing Director(MD) and Chief executive Officer(CEO)– Uday Kotak
Tagline– Lets make money simple

MobiKwik Launched mpay.me, a Personalized UPI Payment Link

i.MobiKwik launched mpay.me, a Unified Payment Interface (UPI) payment link service that allows users to send and receive money from any UPI payment app. 
ii.Through mpay.me, users and merchants can set up a personalized link using their mobile number.
iii.The link can be created through the MobiKwik app or the MobiKwik website and can be shared anywhere with anyone over chat, SMS, email etc. 
About MobiKwik:
Headquarters– Gurugram, Haryana
Founder CEO & Director– Bipin Preet Singh
<< Read Full News >>

ECONOMY & BUSINESS

Reliance Power, JERA ink loan agreement with banks for new power plant in Bangladesh

i.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.
ii.Both partners will develop a new 745 MW natural gas combined-cycle power project in Meghnaghat in Bangladesh.
About Reliance Power:
Chairman– Anil Dhirubhi Ambani
Headquarter– Mumbai, Maharashtra
<< Read Full News >>

 APPOINTMENTS & RESIGNATIONS          

Ivory Coast’s Defence Minister Hamed Bakayoko Appointed as PM

The Republic of Ivory Coast President Alassane Ouattara has appointed Defence Minister Hamed Bakayoko(55 years old) as Prime Minister(PM)after acting as an interim PM since the sudden death of Amadou Gon Coulibaly on July 8, 2020. Hamed Bakayoko will also hold his position as defence Minister.
Key Info
Hamed Bakayoko became acting PM on May 2, 2020 due to the absence of Amadou Gon Coulibaly.
Note– Amadou Gon Coulibaly was the presidential candidate for the ruling Rassemblement des Houphouëtistes pour le Développement et la Paix (RHDP).
About Hamed Bakayoko
i.Hamed Bakayoko since 2017 was in defence portfolio after he served as a interior minister from 2011.
ii.He has also been mayor of Abobo since 2018. He was minister of new information and communication technology in the national unity government from 2003 to 2011.
iii.He was a former radio and newspaper executive and longtime ally of Alassane Ouattara.
iv.He was a founding member of the Rally of the Republicans (RDR) party in 1994 and was in charge of the party’s daily newspaper, Le Patriote. It is part of the RHDP coalition.
v.He had been considered a possible replacement for Amadou Gon Coulibaly as the presidential candidate.
About the Republic of Ivory Coast(Côte d’Ivoire):
Capital– Yamoussoukro
Currency– West African CFA franc

Great Eastern Shipping Company Ltd Appointed Former RBI Governor Urjit Patel as Additional & Independent Director

i.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 fromAugust 01, 2020.
ii.He was appointed as the Chairman of the Governing Body of the  National Institute of Public Finance and Policy (NIPFP) for a 4 year term on June 22, 2020.
iii.He has authored a book titled ‘Overdraft: Saving the Indian Saver’. The book will be published by HarperCollins India.
About Great Eastern Shipping Company Ltd:
Registered Office–  Mumbai, Maharashtra
Chairman- K. M. Sheth
<< Read Full News >>

Varun Sridhar is appointed as the New CEO of Paytm Money

On 29th July 2020, Paytm Money, the subsidiary of One97 Communication Ltd announced the appointment of Varun Sridhar as the New Chief Executive Officer(CEO) following the resignation of former Managing Director and CEO Pravin Jadhav.

• Sridhar will report to Amit Nayyar, President of Paytm who leads the financial services business of Paytm.
• He will lead the launch and development of equity development and the mutual funds, NPS and Gold Services.

About Varun Sridhar:
i.Varun served as the CEO of FinShell India, a part of OPPO, Chinese mobile electronics company where he launched the realme PaySa, a mobile fintech platform.
ii.He worked with BNP Paribas for almost 8 years.
iii.He has experience in financial service solutions and wealth management which will support the targets of Paytm money, to launch new businesses like equity brokerage in the financial year 2020-21.
Note:
Paytm Money acquired the approval from Securities and Exchange Board of India (SEBI) to start the stock broking services on its platform.
Other appointments:
Amit Kapoor, former CFO of Aviva India, joined Paytm Money as its new CFO and vice president.
About Paytm Money:
CEO– Varun Sridhar
Headquarters– Bengaluru, Karnataka

ACQUISITIONS & MERGERS   

TATA Capital Growth Fund invests 30 Million USD for 0.85% Stake in Biocon Biologics

On 31st July 2020, Biocon Biologics India approved the primary equity investment of around Rs.225 crore (30 Million USD) by Tata Capital Growth Fund for a 0.85% minority stake in Biocon Biologics, biosimilar business, at an equity valuation of around Rs. 26,250 crore (3.5 billion USD) and enterprise valuation of around Rs. 30,400 crore (4 billion USD).
Features of this equity infusion:
i.Biocon gained 0.78% to Rs.406.55 and holds 95.25% stake in Biocon Biologics after the completion of this transaction.
ii.This equity infusion by TATA Capital will support the growth of Biocon Biologics through the prudent capital allocations.
iii.Through the investments in the Research and Developments (R&D) and high quality manufacturing infrastructure Biocon Biologics will meet the requirements of the patients across the globe.
Note:
True North Parking, a private equity firm, invested 74 million USD in Biocon Biologics in 2019 at a valuation of 3 billion USD.
About Biocon Biologics:
Biocon Biologics, a fully integrated, innovation-led global biopharmaceuticals company is the subsidiary biosimilar business of Biocon.
CEO– Dr. Christiane Hamacher
Headquarters– Bengaluru, Karnataka
Recent Related News:
i.Tata Power Limited, an Indian electric utility company, has acquired 51% stake in TP Central Odisha Distribution Ltd (TPCODL), a wholly-owned subsidiary of Grid Corporation of Odisha (GRIDCO), for a consideration of Rs 178.5 crore.
ii.Tata Power announced that its subsidiary Tata Power International Pte Ltd(TPIPL) has acquired a 10% stake in Adjaristsqali Netherlands BV(ABV) from the International Finance Corporation(IFC) for USD 150,000 (about Rs 1.13 crore).

     SCIENCE & TECHNOLOGY

Mars 2020 mission: NASA’s Mars rover ‘Perseverance’ launched to seek signs of ancient life

i.On July 30, 2020, the United States’ (US) 5th Mars Mission “Mars 2020” initiated by NASA (National Aeronautics and Space Administration) after launching  the biggest Mars rover named “Perseverance”, which was lifted off by United Launch Alliance (ULA) Atlas V 541 rocket from Florida’s Cape Canaveral Air Force Station, United States (US). 
ii.The rover will land on Jezero Crater of Mars on Feb. 18, 2021 with duration of at least one Mars year (about 687 Earth days). The outlay of mars mission 2020 is around $2.7 billion.
iii.7 Instruments carried by Rover along with 1st ever Spacesuit Material & Helicopter Ingenuity, and Mars Chunk (SaU008).

• • Sayh al Uhaymir 008 (SaU008): A piece of a meteorite called Sayh al Uhaymir 008 (SaU008) carried on board NASA’s Mars 2020 rover mission. This 450 million years old chunk of a Martian meteorite was discovered on the Earth in Oman in 1999 and preserved at the Natural History Museum in London, United Kingdom (UK) since 2000.
  • Spacesuit Material: The rover carried the first samples of 5 different spacesuit materials that will be exposed to the brutal high-radiation environment for testing. The materials are Vectran, Teflon, Nomex, Gore-Tex, and Kevlar. 

• Helicopter: The rover is also carrying a small helicopter named Ingenuity, which aims to be the first aircraft to fly on another planet. 

<< Read Full News >>

OBITUARY

Folk musician and Padma Shri awardee Sonam Tshering Lepcha died at 92 in Kalimpong, West Bengal

On July 30, 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. 
About Sonam Tshering Lepcha
Career
i.Sonam Tshering Lepcha started his career as a soldier.
ii.He composed songs with traditional musical instruments collected from various parts of Sikkim and became the first Lepcha to feature on the All India Radio (AIR) in 1960.
iii.He was the founder of a museum in Kalimpong which has collections of ancient weapons, rare musical instruments and manuscripts.
iv.He composed over 400 folk songs, 102 folk dances and 10 dance dramas.
Awards
i.He received the Sangeet Natak Akademi Award of the Sangeet Natak Akademi in 1995.
ii.The Government of India awarded him the fourth highest civilian honour of the Padma Shri in 2007, for his contributions to folk music.
iii.The Sangeet Natak Akademi selected 100 eminent performing artists during the 150th birthday celebration of Rabindranath Tagore and Tshering Lepcha was included in the list of 50 for the Tagore Akademi Ratna Award in the year 2011.
iv.He was awarded with the Lifetime Achievement award by the Gorkhaland Territorial Administration (GTA) in 2020.
About Sikkim
Capital – Gangtok
Currency – Indian Rupee
Chief Minister – Prem Singh Tamang
About Lepcha Culture
Language – Lepcha, Sikkimese (Dranjongke), Dzongkha, Nepali
Religion – Mun, Buddhism
Populated at – Sikkim and Darjeeling, India and Nepal.

Former Taiwan president, Lee Teng-hui dubbed as “Mr. Democracy” passed away at the age of 97 in Taipei City, Taiwan

On July 30, 2020, 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. 
About Lee Teng-hui
Education

• He was educated under Japanese colonial rule in 1945 in Japan’s culture. He was a fluent Japanese speaker.
• He served in the Japanese army and the surrender of the army after World War II put him in Kyoto University in Japan.
• He joined the elite National Taiwan University and later the Universities of Iowa State and University of Cornell, where he earned a doctorate in agricultural economics.

Career

• He became the first democratically elected president in March,1996.
• After the death of Chiang Kai-shek’s son, Chiang Ching-kuo, he became the fourth president of Taiwan in the year 1988. 
• He also served as the 2nd Chairman of the Kuomintang between the year 1998 – 2000.
• In the year 2000, Lee Teng lost the presidential election with former human rights lawyer Chen Shui-bian.
• Lee was expelled from the Nationalist party as he supported the pro-independence party candidates in 2001. 
• In 2011, he was marked for the crime of corruption during his time in office which was later proved not guilty.

Facts about Republic of China(Taiwan)
i.The Taiwan government was established in 1949 by Chiang Kai-shek.
ii.After Lee Teng-hui, sworn as the president in March 1996, a series of threats like war games and missile tests led by China in waters around Taiwan in an attempt to scare voters.
iii.Provided the series of threats, the United States sent a carrier task force as a warning to the Beijing Government.
iv.During the election rally in 2012, Lee registered that he wanted Taiwan to be the country of democracy, freedom, human rights and dignity. 
About Taiwan
Capital – Taipei
President – Tsai Ing-wen
Currency – New Taiwan dollar (NT$)

Malayalam Actor Anil Murali passed away at the age of 51

On 30th July 2020, Anil Murali, Veteran Malayalam actor who acted in more than 200 movies in Tamil, Malayalam and Telugu, passed away at the age of 51 at the hospital in Kochi, Kerala where he was admitted due to liver ailments on 22nd July 2020. He hails from Thiruvananthapuram, Kerala.
Anil Murali:
i.Anil Murali started his acting career as a part of the malayalam tele serials.
ii.He first starred in the film Kanyakumariyil Oru Kavitha in 1993.
iii.His most known works in malayalam include Ivar, Lion, Babakalyani, Nasrani, Puthiya Mukham, Pokkiri Raja, City of God and his Tamil and Telugu films include Nimirndhu Nil, Thani Oruvan, Ragile Kasi and Janda Pai Kapiraju.
iv.He last appeared in the film Forensics starring Tovino Thomas in February 2020.
v.His last film Professor Dinkan starring Dileep and Namitha Pramod will be released posthumously.

IMPORTANT DAYS

World Ranger Day 2020 – July 31

World Ranger Day is celebrated annually on July 31 around the world and it is promoted by the 54-member association of the International Ranger Federation (IRF). The day celebrates the accomplishments done by rangers around the world and honours those who have died in the course of their duties.
Who is a Ranger?
A Ranger is a person who will preserve and protect parklands and natural protected areas. They are typically called park ranger or forest ranger.
Universal Ranger Support Alliance:
i.IUCN-WCPA (International Union for Conservation of Nature – World Commission on Protected areas) has joined with the IRF and six other conservation organisations to form URSA (Universal Ranger Support Alliance). 
ii.URSA has prepared a global action plan to help support rangers achieve their goals. 
iii.The plan has 5 main elements: Better pay, working conditions and equipment, Better opportunities for training and learning, Fairer employment opportunities and conditions, More trust and accountability, Better representation and advocacy. 
History of the day
The first World Ranger Day was observed in 2007 on the 15th anniversary of the founding of the IRF with its official charity, The thin Green line foundation.
About International Ranger Federation
President – Chris Galliers 

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