Current Affairs 1 September 2020

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Top 15 Current Affairs of 1 September 2020

NATIONAL AFFAIRS

17TH ASEAN-India Economic Ministers’ Consultations held Virtually ; Co-Chaired by Union Minister 

i.On August 29, 2020, the 17th Association of Southeast Asian Nations (ASEAN)-India Economic Ministers Consultations was held virtually which was co-chaired by Minister of Commerce and Industry & Railways Piyush Vedprakash Goyal and Minister of Industry and Trade of Vietnam Tran Tuan Anh. 
ii.The focus of the meet was to discuss the reviewing of ASEAN India Trade in Goods Agreement (AITIGA), which has been recommended by ASEAN India Business Council (AIBC) Report, submitted during the meet.
iii.The meet was attended by Trade Ministers of all the 10 ASEAN countries—Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam.
About Association of Southeast Asian Nations (ASEAN):
2020 Chairmanship– Vietnam
Chairman– Nguyen Xuan Phuc
Secretariat – Jakarta, Indonesia
<<Read Full News>>

Union Minister Nitin Gadkari lays Foundation Stone for Road Projects worth Rs. 777 Crores

i.On 30th August, 2020 Union Minister for Road Transport & Highways Nitin Jairam Gadkari laid the foundation stone for three important bridges, two road improvement projects and four other major bridge projects across the rivers Wainganga, Bandiya, Perikota and Perimili in the Gadchiroli district of Maharashtra with an outlay of Rs. 777 Crores. 
ii.The projects will be crucial for improving mobility and providing socio-economic development for the people of Gadchiroli district. The region is affected by Left Wing Extremism (LWE). 
About Maharashtra:
Chief Minister –  Uddhav Bal Thackeray 
Nuclear Power Plant – Tarapur Atomic Power Station 
About Ministry of Road Transport & Highways:
Union Minister – Nitin Jairam Gadkari
Minister of State (MoS) – Vijay Kumar Singh (known as V.K. Singh)
<<Read Full News>>

PM Modi Inaugurates College, Administration Buildings of RLB Central Agricultural University in Jhansi

On 29th August, 2020 Prime Minister Narendra Modi inaugurated the College, Administration Buildings of Rani Lakshmi Bai Central Agricultural University in Jhansi, Uttar Pradesh through video conference.
The Central Agricultural University is expected to improve the education infrastructure and contribute to cutting edge research in agriculture and further farmer welfare.
About Uttar Pradesh:
Governor – Anandiben Patel 
UNESCO Heritage Sites – Taj Mahal, Agra Fort, Fatehpur Sikri
<<Read Full News>>

INTERNATIONAL AFFAIRS

6th International Military-Technical Forum “Army-2020 held in Russia; Indian Pavilion Inaugurated

i.The 6th International Military-Technical Forum “Army-2020” was held between August 23-29, 2020 at the Patriot Park near Moscow, Russia which was organized by Russian Defence Ministry and operated by International Congresses and Exhibitions Ltd. (ICE Ltd). 
ii.During the forum, Indian Pavilion was inaugurated by Secretary (Defence Production) Raj Kumar and Indian Ambassador to Russia D.Bala Venkatesh Varma.
iii. The forum saw the discussions between global military officials, researchers and defence industry experts about the application of 3D technologies in designing, manufacturing and operating weapons and military equipment.
About Russia:
Capital– Moscow
Currency– Russian Rouble
President– Vladimir Vladimirovich Putin
<<Read Full News>>

BRICS Sports Ministers Approve MoU for Cooperation in the field of Physical Culture and Sport

On August 25, 2020 the First Meeting of the BRICS (Brazil, Russia, India, China & South Africa) Sports Ministers under the Russian BRICS Chairmanship took place through video conference. The BRICS Sports Ministers signed a Memorandum of Understanding (MoU) to strengthen and develop the cooperation in the field of physical culture and sport within the BRICS members.
About BRICS:
BRICS Chairman (2020) – Russia
President of New Development Bank –  Marcos Prado Troyjo, Brazil
(BRICS Bank)
<<Read Full News>>

BANKING & FINANCE

Vedanta Tied Up with SBI for Long Term Syndicated Loan of Rs.10000 Crore

i.On 31st August 2020, Vedanta announced its tie up for a long term syndicated loan facility for Rs.10000 crore with State bank of India(SBI) as facility agent and SBICAP Trustee Company limited(SBICTCL), a wholly owned subsidiary of SBI Capital Market Limited(SBICAP) as the security trustee with door to door tenor of 7 years.
ii.This loan increases the average debt maturity profile of Vedanta limited.and also improves the liquidity ratios as the near term maturities are replaced by a long term loan.
About Vedanta Limited:
Chief Executive Officer(CEO)– Sunil Duggal
Headquarters– Mumbai, Maharashtra
About State Bank of India(SBI):
Chairman– Rajnish Kumar.
Headquarters– Mumbai, Maharashtra.
Tagline– The banker to every Indian; With you all the way; Purely banking nothing else; The nation banks on us.
<<Read Full News>>

AWARDS & RECOGNITIONS

Rajiv Gandhi International Airport wins CII-GBC ‘National Energy Leader’ award

On August 28, 2020 The GMR led Rajiv Gandhi International Airport (Hyderabad International Airport) won the ‘National Energy Leader’ and ‘Excellent Energy Efficient Unit’ awards at the 21st National Awards for ‘Excellence in Energy Management’. It was organized by Confederation of Indian Industry (CII) and Godrej Green Business Centre (GBC).
The award was given to RINL also during the 19th edition of ‘Energy Efficiency Summit’, Virtual Conference and Exposition on Energy Efficiency held from August 6-28, 2020.
About CII:
President (2020-21) – Mr. Uday Kotak
President-Designate (2020-21) -T V Narendran
Headquarter – New Delhi, Delhi.
<<Read Full News>>

ACQUISITIONS & MERGERS 

Reliance Industries acquired Future Group for Rs.24,713 crore

On 30th August 2020, The Reliance Retail Ventures Limited(RRVL), subsidiary of the Reliance Industries Limited(RIL) acquired the retail and wholesale, logistics and warehousing business of the Future Group Business as going concerns on a slump sale basis for lump sum aggregate consideration of Rs 24,713 crore
Objective:
To enhance its retail business of RIL and increase their e-commerce capacity against Amazon.com.
Features:
i.This acquisition is a part of the scheme where Future Group merges with companies including Future Retail, Future Lifestyle Fashions, Future Consumer, Future Supply Chains and Future Market Networks into Future Enterprises Limited(FEL).
ii.RRFLL will take over some borrowings and current liabilities related to the business and discharge the balance consideration by cash.
Other investments under the scheme:
i.Reliance Retail and Fashion Lifestyle Ltd (RRFLL), a wholly owned subsidiary of RRVL has also proposed to invest Rs 1,200 crore in the preferential issue of equity shares of Future Enterprises to acquire 6.09% of post-merger equity.
ii.RRFLL has also proposed to invest Rs.400 crore in the preferential issues of equity warrants which will result in RRFLL to acquire an additional 7.05% of FEL
Note:
The slump sale of FEL would include Big Bazaar, fbb, Foodhall, Easyday, Nilgiris, Central and Brand Factory.
About RIL:
CEO– Mukesh Ambani
Headquarters– Mumbai,Maharashtra
About Future Group Business:
Founder & CEO– Kishore Biyani
Headquarters– Mumbai, Maharashtra

DoT & SEBI Approved Brookfield Infrastructure Partners Proposal to Acquire Reliance Telecom Tower Assets

The Department of Telecommunications’ (DoT) and The Securities and Exchange Board of India-SEBI(with certain clauses) has given approval to Reliance Jio Infocomm (RJio), to sell units worth Rs 25,215 crore in Tower Infrastructure Trust to Brookfield Infrastructure Partners L.P. It also approved a downstream foreign investment of Rs 105.35 crore to acquire remaining 49% paid up equity share capital in Reliance Jio Infratel Pvt Ltd (RJIPL) and increase the foreign capital in the firm to 100%

• Earlier the deal was approved by National Company Law Tribunal (NCLT) and The Ministry of Home Affairs-MHA (only the equity part of the deal).
• RJio and RJIPL is a wholly-owned subsidiary of Reliance Industries Ltd (RIL).

Note– SEBI and DoT gave their approval separately.
Key Info
i.For further hike in stakes, the conditions include compliance with Infrastructure Investment Trusts (InvITs) regulations, investment of Rs 25,215 crore by Brookfield and other investors and compliance with RBI guidelines, among others. 
ii.DoT’s approval does not provide any assured returns to foreign investors when they leave(exit).
Additional Info– The tower assets were created by RJio using RIL’s funds and third-party loans.
Background
i.Brookfield to take control of Reliance Jio Infocomm’s (RJio) tower infrastructure had 
agreed to invest Rs 25,215 crore on July 19, 2019.
ii.The tower assets of RJio were to be transferred to RJIPL, a special purpose vehicle
iii.Separately, a tower infrastructure trust was to be registered, sponsored by Reliance Industrial Investments and Holdings (RIIH), a wholly-owned subsidiary of RIL.
iv.In December, 2019 the companies had signed a binding deal for the purpose.
About RIL:
Headquarters– Mumbai, Maharashtra
Chairman & Managing Director– Mukesh D. Ambani
About Brookfield Infrastructure Partners L.P
Headquarters– Toronto, Canada
CEO – Sam Pollock (Managing Partner of Brookfield)

       SCIENCE & TECHNOLOGY

New E-market Platform “Agriota” Launched to Bridge Gap between Indian Farmers & UAE food industry

i.On August 29, 2020, the United Arab Emirates (UAE) has launched Agriota, a new technology-driven agri-commodity trading and sourcing e-market platform during a launch ceremony, which was also attended by Pavan Kapoor, Ambassador of India to the UAE. The market platform aims to bridge the gap between millions of rural farmers in India and the Gulf nation’s food industry.
ii.This launch followed the India-UAE Virtual Buyer Seller Meet titled “Forge a New Path in COVID-19” organised on August 20.
iii.It has been launched by Dubai’s free-zone Dubai Multi Commodities Centre (DMCC) and the government of Dubai’s authority on commodities trade and enterprise.
iv.This initiative will enable Indian farmers to connect directly, bypassing intermediaries, with the entire food industry in the UAE, including food processing companies, traders and wholesalers.
About United Arab Emirates (UAE):
Capital– Abu Dhabi
Currency– UAE Dirham
President– Sheikh Khalifa bin Zayed Al Nahyan
<<Read Full News>>

SPORTS

Formula One Champion Mercedes’ Lewis Hamilton Won the Belgian Grand Prix 2020; Won this title for 4th time, Claimed his 89th GP

Formula One Champion Mercedes Lewis Hamilton(British) won the Belgian Grand Prix(GP) 2020 at Circuit de Spa-Francorchamps, Belgium. This is his 4th Belgian GP win, the record equals with Jim Clark and Kimi Raikkonen in 3rd position in all time most wins of Belgian GP, behind Michael Schumacher(6 times)and Ayrton Senna(5times). With this victory, he claimed his 89th career title.  
Note– This victory is Lewis Hamilton’s 5th win in 7 races this year(2020)
Key Info
i.Mercedes’ Valtteri Bottas came second while Red Bull’s Max Verstappen finished in third position.
ii.Renault’s Daniel Ricciardo finished fourth followed by Red Bull’s Alexander Albon
iii.With this win, the 6 time Formula One World Champion is close to German great Schumacher’s F1 record of 91. 
iv.Lewis Hamilton holds the records for the all-time most; career points (3588), pole positions (93),podium finishes (157), most grand slams in a season (3) and the most points in a season.

India, Russia declared joint winners of 2020 Online FIDE Chess Olympiad

i.On 30th August, 2020 India and Russia were declared joint winners of the 2020 Online FIDE (International Chess Federation) Chess Olympiad after the final was marred by internet disconnection. This was the first time that FIDE was holding the Olympiad in an online format due to the ongoing Pandemic. i.Initially, Russia were declared winners after two Indian players –  Nihil Sarin and Divya Deshmukh lost out on time in the final due to a disconnection in the server. 
ii.However,India lodged a protest against the controversial decision which was reviewed and FIDE announced Gold Medals for both India and Russia.
iii.This was India’s maiden appearance in the final of the tournament, and Russia had not won a Chess Olympiad since 2002.
Team India at Chess Olympiad 2020:
The Indian squad at the Chess Olympiad 2020 included Vishwanathan Anand, Vidit Santosh Gujarati (captain), P. Harikrishna, Koneru Humpy, Dronavalli Harika, Bhakti Kulkarni, Nihal Sarin, Divya Deshmukh, R. Praggnanandha, Vantika Agrawal, R. Vaishali and Arvindh Chithambaram.
i.The first round ended in a 3-3 draw after all six games ended in a draw.
ii.Russia won the second round 4.5-1.5 after Nihal Sarin and Divya Deshmukh lost out on time, due to disconnection with the server.
iii.India appealed against it and International Chess Federation Fide’s president Arkady Dvorkovich decided to award the gold medal to both the teams.
iv.India had beaten Poland in the semi-final to qualify for the final.

OBITUARY

Dr S Padmavati, India’s 1st Female & Oldest Cardiologist, Founder of AIHF & NHI, Padma Awardee Died of COVID-19

i.Dr S. Padmavati Sivaramakrishna Iyer( S. I. Padmavati or S. Padmavati), India’s 1st Female & Oldest Cardiologist died at the age of 103 in National Heart Institute(NHI) due to COVID-19 infection. 
ii.She was the founder of All India Heart Foundation (AIHF) and NIH, New Delhi, India and established the 1st cardiac clinic and catheterization laboratory at the Lady Hardinge Medical College in India(Delhi). 
iii.She is popularly known as the “GodMother of Cardiology”. She is  the recipient of Padma Bhushan(1967) and Padma Vibhushan(1992).
<<Read Full News>>

Black Panther Star Chadwick Boseman Passed Away at 43

On 28th August 2020, Chadwick Boseman, hollywood star well known for his role as T’Challa in the film Black Panther (2018) of the Marvel Superhero Franchise passed away at the age of 43 in his residence at Los Angeles, United States of America(USA) due to colon cancer.
He was born in Anderson, South Carolina.
Career:
i.He played minor roles in television before 2013.
ii.He played Jackie Robinson in the sports drama “42” with Harrison Ford in 2013 and James Brown in Get on Up in 2014.
iii.He portrayed Thurgood Marshall, First African American Supreme Court Justice of the US in the movie Marshall in 2017.
iv.He debuted into the marvel cinematic universe as Black panther in the Marvel Film, Captain America: Civil War (2016) and also starred in the films Avengers: Infinity War and Avengers: Endgame.
vi.He also worked in the film 21 bridges (2019) which he co-produced and Da 5 Bloods (2020).
v.His last film, Ma Rainey’s Black Bottom, will be released posthumously on Netflix.
Note:
i.His movie Black Panther was the first superhero film to get an Oscar nomination for best picture. 
ii.The picture won three Academy awards for the best Original score, for best costume design and best production design categories.

Katyayani Shankar Bajpai, Ex Indian Ambassador and Chairman of Delhi Policy Group Died

On August 30, 2020, Katyayani Shankar(KS) Bajpai( also known as K.Shankar Bajpai)former Indian Ambassador(envoy) to the United States(US), Pakistan, Netherlands and China passed away at the age of 92. He co-founded the Delhi Policy Group(DPG), an independent think tank in 1994 with other eminent public intellectuals & remained its chairman since then. He served as the  Former Indian Secretary, External Affairs Ministry. He was born on March 30, 1928, in Jaipur, Rajasthan.

• The 1952 batch Indian Foreign Service(IFS) officer is a doyen of Indian foreign policy and one of the key persons behind the growth of Indo-US relations.

Key Info
i.He is the Son of Girija Shankar Bajpai (1st Secretary-General of the Ministry of External Affairs).
ii.It is to be noted that he is the only diplomat who served as the ambassador to China, Pakistan and the US, when there was a strain relationship with each and India was managing 3 most challenging relationships.
About Katyayani Shankar Bajpai
i.He joined the IFS in 1952 and retired in 1986. Post retirement, he was  involved with various American universities including University of California(1987-88), and was also a visiting professor in University of California, Berkeley,(1989-92).
ii.He became the 1st Professor of Non-Western Studies at Brandeis University in Massachusetts in 1992.
iii.He has served as the Chairman of the National Security Advisory Board from 2008-2010. 
Note– DPG primarily focuses on international and strategic issues of critical national interest.

IMPORTANT DAYS

International Day of the Victims of Enforced Disappearances 2020: August 30

i.United Nations(UN)’s International Day of the Victims of Enforced Disappearances is annually observed on 30th August to create and raise awareness that enforced disappearance is a crime and it should not be used like a tool to deal with the situations of conflicts. 
ii.The first International Day of the Victims of Enforced Disappearances was observed on 30th August 2011.
ii.The Rome Statute of the International Criminal court and the International Convention of the Protection of All persons from Enforced Disappearance adopted the UNGA resolution 20th December 2006, states that, forced disappearance qualifies as a crime against humanity.
<<Read Full News>>

September to be Observed as “Nutrition month”: PM Modi in Mann ki Baat

i.On 30th August 2020, during the monthly radio broadcast programme “Mann ki Baat”, Prime Minister Narendra Modi announced to celebrate the September 2020 as “Poshan Maah” or “Nutrition Month”. 
ii.The month will be celebrated across India to educate everyone on the importance of optimum nutrition.
iii.The nutrition month was celebrated earlier in September 2018 and 2019.
iv.Agriculture Fund of India with information about the crops of each district and their nutrition value are being prepared.
<<Read Full News>>

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