Current Affairs 10 & 11 May 2020

We are here for you to provide the important Recent and Latest Current Affairs 10 & 11 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 10 & 11 May 2020

NATIONAL AFFAIRS

Defence Ministry signs contract with Tata Power SED for Phase-II of Modernisation of Air Field Infrastructure

The Defence Ministry has signed a contract worth around Rs 1,200 crore with Tata Power Strategic Engineering Division(TPSED) for Phase-II of Modernisation of AirField Infrastructure(MAFI) of 37 airfields for Indian Air Force(IAF), Indian Navy (IN) and Indian Coast Guard (ICG)….Click here to Read More
About Defence Ministry:
Union Minister– Rajnath Singh(Constituency- Lucknow, Uttar Pradesh)
Minister of State– Shripad Yesso Naik(Constituency- North Goa)

Ramesh Pokhriyal ‘Nishank’ announces modifications in PMRF Scheme to boost  research

i.Union Human Resource Development(HRD) Minister Ramesh Pokhriyal ‘Nishank’ announced various modifications(amendments) in the Prime Minister’s Research Fellowship(PMRF)  Scheme
ii.To boost research in the country & to enable more students to avail the benefit under the scheme….Click here to Read More
About HRD ministry:
Union Minister– Ramesh Pokhriyal ‘Nishank'(Constituency- Hardwar or Haridwar, Uttarakhand)
Minister of State– Sanjay Dhotre(Constituency- Akola, Maharashtra)

Central Board of Direct Taxes amends 44G of Income-tax Rules 1962

On 7th May 2020, The Central Board of Direct Taxes(CBDT) amended Rule 44G of Income-tax Rules, 1962 for making an application to invoke the mutual agreement procedure in Form no.34F which will be called Income-tax (8th Amendment) Rules, 2020….Click here to Read More
About CBDT:
Chairman– Pramod Chandra Mody
Headquarters– New Delhi
Established– 1924

INTERNATIONAL AFFAIRS

WHO and UN’s postal agency releases commemorative stamp on 40^th anniversary of smallpox eradication

On May 9, 2020, The World Health Organization (WHO) and the United Nation (UN) postal agency released a commemorative postage stamp on the 40^th  anniversary of the eradication of smallpox. The commemorative stamp was designed and developed by Sergio Baradat, United Nations Postal Administration (UNPA) in collaboration with WHO….Click here to Read More
About WHO:
The World Health Organization (WHO) is a specialized agency of the United Nations responsible for international public health.
Headquarters– Geneva, Switzerland.
Director-general– Dr Tedros Adhanom Ghebreyesus.

ECONOMY & BUSINESS

Government hikes its market borrowing to Rs 12 lakh crore from Rs 7.80 lakh crore for FY 21: COVID-19 impact

The Government has hiked its estimated gross market borrowing to Rs 12 lakh crore(additional Rs 4.2 lakh crore) from Rs 7.80 lakh crore for Financial Year(FY) 2020-21 as per the Budget Estimates(BE) so as to tackle the expected shortfall in revenue due to the impact of COVID-19 crisis on the economy…Click here to Read More
About Finance Ministry:
Union Minister– Nirmala Sitharaman(Constituency- Karnataka)
Minister of State– Anurag Singh Thakur(Constituency- Hamirpur, Himachal Pradesh)

FM Nirmala sitharaman launches INR-USD futures and options contracts on BSE, NSE  at Gift city

Union Minister for Finance & Corporate Affairs Nirmala Sitaraman launched INR-USD (Rupee-Dollar) Futures and Options contracts on two international exchanges namely BSE’s India INX and NSE’s NSE-IFSC at the International Financial Services Center (IFSC) of Gujarat International Finance Tec-City (GIFT City) in Gandhinagar through a video conference.
i.These deals will be available for 22 hours every day & will increase economic activities and employment in the country….Click here to Read More
About Ministry of Finance:
Headquarters– New Delhi
Minister of State (MoS)– Anurag Singh Thakur

Ratings agencies Goldman Sachs & Nomura cut India’s economic growth projections for 2020-21

Goldman Sachs Group, Inc. has predicted India’s GDP (Gross domestic product) growth for 2020-21 (FY21) at -0.4% following the expansion of the lockdown.
While Nomura Holdings, Inc. has also lowered India’s FY21 GDP growth forecast to –5.2% from -0.4% predicted earlier.
i.It means both the firms predicted a contraction of 0.4 % of India’s GDP in the current financial year due to the impact of the coronavirus (COVID-19) pandemic….Click here to Read More
About Nomura Holdings, Inc:
Headquarters– Tokyo, Japan
President and Group CEO– Kentaro Okuda
About Goldman Sachs Group, Inc:
Headquarters– New York City, U.S.
Chairman and Chief Executive Officer– David M. Solomon

AWARDS & RECOGNITIONS        

Giriraj Singh presents awards to the winners of “Startup India- Animal Husbandry Grand Challenge”

Union Minister for Fisheries, Animal Husbandry and Dairying, Giriraj Singh(chief guest) presented the award to the winners of “Startup India-Animal Husbandry Grand Challenge”. Minister of State of Fisheries, Animal Husbandry and Dairying(AHD), Sanjeev Kumar Balyan & Secretary AHD,  Atul Chaturvedi were also present….Click here to Read More
Constituency of Ministers:
Giriraj Singh– Begusarai, Bihar
Sanjeev Kumar Balyan– Muzaffarnagar, Uttar Pradesh

APPOINTMENTS & RESIGNATIONS     

Edu-tech firm ELSA Corp appoints Indian cricketer Ajinkya as its brand ambassador for India, Middle East, ANZ & SAARC

ELSA Corp (English Language Speech Assistant Corporation) India, the education technology company based out of the US (United States), has appointed Indian Test team vice-captain Ajinkya Madhukar Rahane as its brand ambassador for India, Middle East, ANZ (Australia & New Zealand) and SAARC.
i.Now Rahane will work with company’s mobile app ‘ELSA Speak’ to popularize it among Indian people who want to better their English pronunciation….Click here to Read More
About ELSA Corp:
Headquarters– California, US
Co-Founder & CEO– Vu Van

  ACQUISITIONS & MERGERS        

74% stake of SeQuent bought by Carlyle for Rs 1,587 crore

On 8th May 2020, The Carlyle Group, an United States(US) based private equity firm acquired 74% stake in SeQuent Scientific Limited, the largest animal healthcare company from India for Rs.1,587 crore($210 million) for Rs.86 a piece….Click here to Read More
About SEBI:
Chairman– Ajay Tyagi
Chief Vigilance Officer (CVO)– ArtiChhabraSrivastava
Headquarters– Mumbai
Established– April 12, 1992

Britain’s GlaxoSmithKline sells 5.7 % stake in Hindustan Unilever for $3.35 billion

British firm GlaxoSmithKline plc (GSK) has sold its 5.7 % stake in Hindustan Unilever Limited (HUL) for $3.35 billion (about 254.8 billion rupees) in the stock market through a largest ever block deal.
i.In an another big transaction, French firm Societe Generale S.A has acquired 1.29 crore shares in HUL worth of Rs 2,453.58 crore from British drugmaker GlaxoSmithKline Pte….Click here to Read More
About GlaxoSmithKline plc:
Headquarters– Brentford, United Kingdom
Chief executive Officer– Emma Walmsley

SCIENCE & TECHNOLOGY

IIT-Delhi startup launches reusable antimicrobial mask NSafe

With increasing demand for face masks to contain transmission of deadly COVID-19 virus, IIT (Indian Institute of Technology)- Delhi startup company named Nanosafe solutions has developed and launched an antimicrobial and washable face mask “NSafe” that can be reused upto 50 launderings….Click here to Read More
About Delhi:
Chief Minister (CM)– Arvind Kejiwal.
Governor– Anil Baijal.

CSIR receives approval for clinical trial of two drugs, ‘phytopharmaceutical & favipiravir’ to treat COVID-19

On May 8, 2020, The Council for Scientific and Industrial Research (CSIR) received approval from Drug Controller General of India (DCGI) for its two clinical trial drugs- “favipiravir” and “phytopharmaceutical”- to combat coronavirus (COVID-19)….Click here to Read More
About CSIR:
President– Shri Narendra Modi.
Director-General– Dr Shekhar C. Mande.

BOOKS & AUTHORS

“Finding Freedom: Harry and Meghan and the Making of a Modern Royal Family”  by Omid Scobie and Carolyn Durand set to release in August

Biography of Britain’s Prince Harry and his wife Meghan Markle “Finding Freedom: Harry and Meghan and the Making of A Modern Royal Family” by royal reporters OmidScobie and Carolyn Durand scheduled to release on 11th August tops the pre order charts as it went online in Amazon….Click here to Read More

IMPORTANT DAYS

Time of Remembrance and Reconciliation for Those Who Lost Their Lives during the Second World War: May 8-9

The Time of Remembrance and Reconciliation for Those Who Lost Their Lives during World War II is a two day international event observed every year on May 8 & 9 to pay tributes to the millions of people who lost their lives during World War II. This year marks the 75^th anniversary of World War II. The duration of the World War ll was from 1939 to 1945 and on May 8, 1945, the forces of Nazi Germany unconditionally surrendered….Click here to Read More
About United Nations (UN):
Headquarters– New York City, United States (US).
Secretary General– António Guterres.

World Migratory Bird Day 2020, 9th May

On 9th May 2020, World Migratory Bird Day(WMBD) is an annual global celebration campaign to  raise awareness of the needs for the conservation of migratory birds and their habitats. This day was initiated in 2006 by the Secretariat of the Agreement on the Conservation of African-Eurasian Migratory Waterbirds(AEWA). The United Nations Environment Programme(UNEP) marked May 9th as WMBD. The theme of this year’s WMBD is “Birds Connect Our World”….Click here to Read More
About UNEP:
Executive Director– Inger Andersen
Deputy Executive Director– Joyce Msuya
Headquarters– Nairobi, Kenya

STATE NEWS

Sikkim Assembly passes a budget of Rs 9,100 crores for FY21

The Sikkim Legislative Assembly with a 32-member state legislature passed the budget of Rs 9,100 crores  for fiscal 2020-21 comprising Rs. 7343.60 as revenue expenditure, and Rs. 1756.40 as capital expenditure in the 2nd Session of 10th Assembly (Budget Session 2020-21) on March 24….Click here to Read More
About Sikkim:
Capital– Gangtok
Chief Minister (CM)– Prem Singh Tamang (Golay)
Governor– Ganga Prasad

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