Current Affairs 10 September 2020

We are here for you to provide the important Recent and Latest Current Affairs 10 September 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 20 Current Affairs of 10 September 2020

NATIONAL AFFAIRS

Karnataka CM Launches Country’s First Integrated Air Ambulance Services

i.On September 8th, 2020, Karnataka Chief Minister B S Yediyurappa launched the Country’s First Integrated Air Ambulance Services at Jakkur Aerodrome, Bangalore.It is the first air ambulance operating from South India to provide services for medical emergencies.
ii.Air ambulance firm International Critical Air Transfer Team (ICATT) will run the services in collaboration with aviation technology firm Kyathi from the HAL airport in Bengaluru.
iii.ICATT-Kyathi’s fixed wing aircraft is capable of long distance emergency medical transportation. It is combined with helicopter and land ambulance services which will provide last mile connectivity.
About Karnataka:
Chief Minister – B S Yediyurappa 
Capital – Bangalore
<<Read Full News>>

PGCIL to become 1st PSU in power sector to undertake asset monetization through InvIT model

On September 8, 2020, the Cabinet Committee on Economic Affairs (CCEA) approved to monetize state-run Power Grid Corp. of India Ltd’s (PGCIL), under Ministry of Power transmission projects that were won through a bidding process. The monetisation of assets of POWERGRID will be done through the Infrastructure Investment Trust (InvIT) model.

• This is the first time any PSU in the Power Sector will undertake asset recycling by monetising its assets through the InvITmodel and using the proceeds to fund the new and under-construction capital projects.
• In this regard, Power Grid will start with monetizing five such tariff-based competitive bidding (TBCB) assets valued at around RS 7,164 crore (as of September 2019), held in existing special purpose vehicles (SPVs).
• This decision has been taken due to COVID-19 impacted economic disruption.
• The CAPEX (Capital Expenditure) plan of POWERGRID for next two years (2020-21 and 2021-22) is Rs. 20,500 cr.

What are InvITs?
InvITs are trusts that manage income-generating infrastructure assets, typically offering investors a regular yield and a liquid method of investing in infrastructure projects.

• The InvIT was proposed by the government as an alternative fundraising route for state-owned companies to manage their funding requirements without having to depend on government support.

About run Power Grid Corp. of India Ltd’s (PGCIL):
About Chairman & Managing Director (CMD)– K. Sreekant 
Headquarter– Gurugram, Haryana

First World Solar Technology Summit organized by ISA and FICCI held Virtually; Inaugurated by PM Narendra Modi

i.On September 8, 2020, the first World Solar Technology Summit (WSTS) was held virtually which was organized by  the International Solar Alliance (ISA) along with Federation of Indian Chambers of Commerce and Industry (FICCI), as the convenor of ISA Global Leadership Task Force on Innovation, to focus on new Technologies and Innovations in the field of Solar.  
ii.The summit aims at “Let us make the sun brighter” by bringing together key stakeholders.
iii.The summit was inaugurated by Prime Minister of India Narendra Modi. 

• The summit witnessed inking of a number of agreements by ISA, including, with International Institute of Refrigeration (IIR), Global Green Growth Institute (GGI) and National Thermal Power Corporation (NTPC) Limited.

• ISA launched its technology journal, Solar Compass 360
• ISA Journal on Solar Energy (I JOSE) launched
• ISA sets up Project Preparation Facility for its member countries aided by EXIM Bank of India 
• Dharmendra Pradhan announced 5 Petroleum and Gas sector PSUs to join ISA
• India gets 10 GW proposals for setting up solar equipment manufacturing capacity
• India is working on clean energy mission with a collective mindset

About International Solar Alliance (ISA):
In November 2015, ISA was jointly launched by India and France during the 21st session of the United Nations Climate Change Conference of the Parties (COP-21) in Paris, France to promote solar energy among its Member Countries. The major objective of the organization is the deployment of 1000 GW of solar capacity and mobilization of US$ 1000 billion of investment in the solar energy sector by 2030. 
Director General– Upendra Tripathy 
Headquarter– Gurugram, Haryana
<<Read Full News>>

INTERNATIONAL AFFAIRS

India & Angola Held its 1st Joint Commission Meeting Virtually; Inked 3 Pacts

i.On September 7, 2020 India- Angola Joint Commission held its 1st meeting through video-conferencing. 
ii.During the meeting India and Angola agreed to expand their trade relations and also discussed cooperation in health, pharmaceuticals, defence, agriculture, food processing, digitization and telecom.
iii.The session was co-chaired by Dr. Subrahmanyam Jaishankar, External Affairs Minister of India, and  Ambassador Téte António, Minister of External Relations of the Republic of Angola. There were 3 pacts signed between India and Angola.
About Angola:
Capital– Luanda
Currency– Angola Kwanza
<<Read Full News>>

India’s child mortality rate declines from 3.4 million in 1990 to 824,000 in 2019: UN report

According to ‘Levels & Trends in Child Mortality’ Report 2020, India’s child mortality rate has declined from 3.4 million in 1990 to 824,000 in 2019. The report was prepared by the United Nations Inter-Agency Group for Child Mortality Estimation (UN IGME). 
The Report shows that the number of global under-five deaths dropped to its lowest point on record in 2019, down to 5.2 million from 12.5 million in 1990.
The new mortality rates have been released United Nations Children’s Fund (UNICEF), the World Health Organization (WHO), Population Division of the United Nations, Department of Economic and Social Affairs and the World Bank Group.
About United Nations (UN):
Secretary General – António Guterres
Headquarters – New York (United States of America)
<<Read Full News>>

UNICEF to Lead Global Procurement, supply of COVID Vaccines

The United Nations Children’s Fund (UNICEF) will be leading the procurement and supply of COVID-19 Vaccines to ensure that all countries have safe, fast and equitable access to initial doses of Vaccines, when they are available. The procurement and distribution will involve 170 Economies, and has the potential to make it the Largest and Fastest ever kind of operation.
UNICEF will collaborate with Pan American Health Organization (PAHO), to lead efforts for procuring and supplying doses of Covid-19 vaccines on behalf of the COVAX Global Vaccines Facility for 92 low and lower middle-income countries.
About United Nations Children’s Fund (UNICEF):
Executive Director – Henrietta H. Fore
Headquarters – New York (United States of America)
<<Read Full News>>

BANKING & FINANCE

India, ADB Sign $500 Million Loan For Delhi-Meerut RRTS Corridor, 1st of its kind in India

i.On September 8, 2020, Government of India (GoI) and Asian Development Bank (ADB) signed a $500 million loan agreement for the Delhi-Meerut RRTS (regional rapid transit system) Investment Project. 
ii.This is the first tranche of a total $1billion (about Rs 7,485 crore) facility. Click Here to Read
The loan agreement was inked by Sameer Kumar Khare, additional secretary (Fund Bank and ADB) of Department of Economic Affairs (DEA), and Kenichi Yokoyama, country director of ADB’s India Resident Mission.
iii.This modern, high-speed 82-km Delhi-Meerut, Uttar Pradesh RRTS corridor, a first of its kind in India, will improve regional connectivity and mobility in the national capital region (NCR). 
About Asian Development Bank (ADB):
Headquarters– Mandaluyong, Metro Manila, Philippine
President-Masatsugu Asakawa
Members– 68 Countries
<<Read Full News>>

PayU Finance Launches First-of-its-kind Digital Revolving Credit Line called ‘LazyPlus’

PayU Finance, India’s leading alternative lending platform, has launched the first-of-its-kind digital revolving credit line called ‘LazyPlus’, which combines power of Unified Payments Interface (UPI) and Buy-Now-Pay-Later concept.
It is part of response to the market’s demand for easy access to credit across online and offline platforms and pay-later options.
i.Customers can set up their accounts using a 2-minute Know Your Customer (KYC) process which seamlessly integrates into LazyPay app. 
ii.Based on the user’s credit history and payment behavior, LazyPlus will offer a credit limit (upto INR 1 lakh) to users for undertaking UPI transactions in both online & offline modes.
iii.The users don’t need to link their bank account with UPI to access credit via Lazy Plus.
iv.Using the Revolve feature, the users can make part-repayments in case they are unable to repay in a monthly billing cycle. 
v.The feature enables users to pay Minimum Amount Due (MAD) and transfer the total outstanding amount to the next payment cycle, with standard interest rate.

SBI Mutual Fund Launched SBI Magnum Children’s Benefit Fund (Investment Plan)

i.On September 8, 2020 SBI Mutual Fund launched SBI Magnum Children’s Benefit Fund (Investment Plan), an open-ended fund for parents to invest for their children. 
ii.It is a part of SBI Magnum Children’s Benefit Fund that currently has a savings plan, a predominantly debt-oriented offering.
iii.The New Fund Offer (NFO) is open for subscription from September 8 and will close on September 22, 2020. 
iv.The fund will have a lock-in for 5 years or until the child attains the age of 18, whichever is earlier.
About SBI Mutual Fund:
Headquarters– Mumbai, Maharashtra
Managing Director & Chief Executive Officer–  Vinay M. Tonse
<<Read Full News>>

ECONOMY & BUSINESS

WE HUB Partners with NutriHub to Promote Women Entrepreneurs in Agri Sector

On 5th September 2020, WE HUB, India’s first State led incubator for women led startups, under the Government of Telangana partnered with NutriHub, first of its kind incubator to provide the needs of the startups in the nutricereal sector, to support women entrepreneurs in the agriculture sector in both urban and rural areas.
Vilas A Tonapi, Director of Indian Council of Agricultural Research – Indian Institute of Millets Research(ICAR-IIMR) and Deepthi Ravula, CEO of WE HUB signed the Memorandum of Understanding(MoU).
NutriHub is a Technology Business Incubator supported by the Department of Science & Technology(DST) and hosted by ICAR-IIMR,Hyderabad.
Features of MoU:
i.This MoU will initiate virtual brand co-creation and co-incubation mechanism to support more women entrepreneurs to start agri businesses.
ii.NutriHub will support the WE HUB startups in technical advice, testing, product development, laboratory access, equipment and technical staff through its existing R&D facility.
iii.This will also assist in technical and product development support, technology transfer and cross learning for women entrepreneurs.
iv.They will provide a better understanding about the industry landscape and will support the women entrepreneurs to scale up and sustain in the industry.

Vodafone Idea unveils new integrated brand identity ‘Vi’

On September, 07, 2020 Vodafone Idea virtually unveiled their new integrated brand identity ‘Vi’ (Pronounced as We) and a new logo.  It comes two years after the merger of Vodafone and Idea. 
i.The Brand Integration marks the completion of the largest telecom merger in the world, it will set the company on a future journey to provide strong digital experiences to 1 billion Indians on its 4G Network.
ii.Ogilvy, the agency which has been working with Vodafone for many years has executed this rebranding exercise.
iii.The logo is short, simple and refers to the origin of two brands and reflects the collective nature of the Indian society.
About Vodafone-Idea Ltd:
Chief Executive Officer (CEO) & Managing Director (MD) – Ravinder Takkar
Headquarters – Mumbai (Maharashtra)

SBI Modernized its Payment Switching System using ACI’s Retail Payments Solution

i.ACI Worldwide(ACI), a global provider of real-time digital payment software and solutions has modernized payments infrastructure of State Bank of India (SBI)’s Automated Teller Machine(ATM) and Point-of-Sale (POS). Modernization was done using ACI’s enterprise-class Retail Payments solution.
ii.SBI, in addition to transaction processing, also protects its payments and eases fraud using ACI’s fraud management solution for debit cards, mobile banking, internet banking, pre-paid and UPI(Unified Payments Interface) payments.
About State bank of India(SBI):
Headquarters– Mumbai, Maharashtra
Chairman– Rajnish Kumar
Tagline– The banker to every Indian; With you all the way; Purely banking nothing else; The nation banks on us.
About ACI Worldwide 
HeadQuarters- Naples, Florida, United States
President & Chief Executive Officer– Odilon Almeida
<<Read Full News>>

India’s FY21 GDP to contract 14.8%; worst hit: Goldman Sachs

In accordance with the American brokerage Goldman Sachs, Indian economy is the worst-hit among major economies as its gross domestic product (GDP) forecast for FY2020-2021 is contracted to 14.8% from 11.8% estimated earlier. This forecast is the most pessimistic (defeatist) one among all the analysts till now.

• For FY2021-22 the GDP is estimated to clock a 15.7% growth.
• It should be noted that India has the second-largest number of COVID-19 infections (40 Lakh). Though there was nearly a two-month-long lockdown that sharply contracted the economic activity but was unable to contain the number of infections.

Key Points:
-As per the Goldman Sachs forecast, India will contract 13.7% for the September 2020 quarter and 9.8% for the December 2020 quarter in comparison to 10.7% and 6.7% contractions, respectively.
-The brokerage firm is expecting a real GDP growth of 27.1% in the April-June 2021 quarter, on the condition if 70% of the lost output in June 2020 is recovered in June 2021.
About Goldman Sachs:
Chairman and Chief Executive Officer (CEO)– David Michael Solomon
Headquarter– New York, United States (US)

AWARDS & RECOGNITIONS        

Sir David Attenborough, British Broadcaster is Honoured with Indira Gandhi Peace Prize

On 7th September 2020, Over a virtual event, Former Prime Minister Manmohan Singh conferred the Indira Gandhi Peace Prize for the year 2019 upon Sir David Attenborogh, a British broadcaster. Sonia Gandhi, President of Congress was also present during the event.
About Indira Gandhi Prize:
i.The Indira Gandhi Prize for Peace, Disarmament and Development was instituted by the Indira Gandhi Memorial Trust in 1986.
ii.The award consists of a citation along with a cash award of Rs.25 lakhs.
iii.The award is presented to individuals or organisations who are working to ensure international peace and development, ensuring that scientific discoveries are used to expand the scope of freedom and better humanity and creating new international economic order.
About David Attenborough:
i.Sir David Attenborough (94 years) is known as the world’s leading authority on the natural world because of his prodigious creativity in educating mankind with films and movies about the natural world.
ii.He authored documentaries showcasing the natural world to create awareness on the needs of preserving it and tackle the environmental issues.
iii.He wrote and presented the BBC nature documentary series, “The Living Planet: A Portrait of the Earth”, which stated that humans have overrun the planet.

APPOINTMENTS & RESIGNATIONS          

Cricketers Smriti Mandhana and Bhuvneshwar Kumar Became the Brand Ambassadors of Playerzpot

On 8th September 2020, Playerzpot, India’s leading sports gaming platforms signed cricketers Smriti Mandhana and Bhuvneshwar Kumar as their brand ambassadors. The cricketers will feature in the future brand campaigns of Playerzport and promote Playerzpot through engagement activities.

• Smriti Mandhana and Bhuvneshwar Kumar will support playerzpot to widen the reach of the brand among the target audience.

Key Points:
i.Playerzpot provides a platform for the sports enthusiast to connect with sports over a virtual platform with a customer centric approach.
ii.The playerzpot portal provides fun activities with security and safety amid COVID-19 pandemic by confining the sports within screen.
iii.The portal provides a fast paced and dynamic gaming experience to its users.
About Smriti Mandhana:
Smriti Mandhana who hails from Mumbai, Maharashtra is the only 2nd Indian Cricketer to feature in a foregin T20 league.
About Bhuvneshwar Kumar:
Bhuvneshwar Kumar made his ODI debut in 2012 against Pakistan and made his test debut in 2013 against Australia.

ACQUISITIONS & MERGERS        

Silver Lake Set to Invest Rs.7500 Crore for 1.75% Stake in Reliance Retails

i.On 9th September 2020, Silver Lake, US based global technology investment firm, is set to invest Rs.7500 crore in Reliance Retail Ventures Limited(RRVL), a subsidiary of Reliance Industries Limited (RIL). 
ii.This investment will provide Silver lake a 1.75% stake in RRVL.
iii.This investment will enhance the retail presence of RIL in the domestic market.
About Silver Lake:
Co-CEO–  Egon Durban
Managing Director– Joerg Adams
Headquarters– Carlifornia, United States of America
About Reliance Industries Limited(RIL):
Founder– Dhirubhai Ambani
Chairman & MD– Mukesh Ambani
<<Read Full News>>

SCIENCE & TECHNOLOGY

Northrop Grumman Named its NG-14 Cygnus Spacecraft as ‘SS Kalpana Chawla’ after Former Astronaut Kalpana Chawla

i.An American global aerospace and defense technology company ,Northrop Grumman Corporation(Northrop Grumman) has named its next Cygnus Spacecraft, NG-14 as ‘SS Kalpana Chawla’ after Dr Kalpana Chawla, a former  NASA(National Aeronautics and Space Administration), United States of America-USA Astronaut. 
ii.She was selected in honor of her outstanding place in history as the 1st woman of Indian descent to go to space. 
iii.S.S. Kalpana Chawla is the 2nd Cygnus to be named for a member of the STS-107 crew. 
About Northrop Grumman Corporation:
Chairman, Chief Executive Officer and President– Kathy J. Warden
HeadQuarters- Virginia(officially the Commonwealth of Virginia), United States
<<Read Full News>>

OBITUARY

Telugu Actor Jaya Prakash Reddy Passed Away at 74

On 8th September 2020, Veteran Telugu Actor Jaya Prakash Reddy, popularly known as JP passed away at the age of 74 at his residence in Guntur, Andhra Pradesh due to cardiac arrest.
He was born on 8th May, 1946 in Kurnool, Andhra Pradesh.
About Jaya Prakash Reddy:
i.Jaya Prakash Reddy made his debut in the Telugu film industry in the film, Brahma Puthrudu (1988).
ii.He was well known for his supporting role as villain and comedian in both tamil and telugu films like Chennakesava Reddy, Temper, Preminchukundam Raa, Seethayya, etc, and Anjaneya, Uthamaputhiran, Aaru etc.
iii.He starred in more than 100 films across Tamil, Telugu and Kannada industries.
iv.His last film was Sarileru Neekevvar (2020) starring Mahesh Babu.

STATE NEWS

Telangana Govt and UK India Business Council Renewed their MoU to Strengthen the State’s Industrial Development

i.On September 8, 2020 The UK India Business Council (UKIBC) renewed its Memorandum of Understanding (MoU) with the Industries and Commerce Department, Government of Telangana. This will bolster the industrial development of the state. 
ii.Mr. Jayesh Ranjan, Principal Secretary, Industries and Commerce Department, Government of Telangana and Mr. Kevin McCole, Managing Director, UKIBC signed the MoU virtually in the presence of Mr. Andrew Fleming, Deputy High Commissioner, British Deputy High Commission – Hyderabad and UK businesses.
About UK India Business Council (UKIBC):
Head Office– London, United Kingdom
Group Chief Executive Officer– Mr Jayant Krishna
About Telangana:
National Park– Mrugavani National Park, Kasu Reddy National Park, Vanasthali National Park
Airport– Rajiv Gandhi Hyderabad International Airport (Recently in News).
<<Read Full News>>

UiPath Partners with APSSDC to Train Student in Robotic Process Automation

i.On 9th September 2020, as a part of an Academic Alliance Programme in Andhra Pradesh, UiPath, a Robotic Process Automation (RPA) software company partnered with Andhra Pradesh State Skill Development Corporation (APSSDC) to provide students with training in robotic process automation.
ii.This is designed to bridge the skill requirements and build RPA resiliency of more than 50000 students in one year.
About Andhra Pradesh State Skill Development Corporation (APSSDC):
Chairman– Challa Madhusudhan Reddy
MD & CEO– Arja Srikanth
Headquarters– Guntur, Andhra Pradesh
About UiPath:
Co-Founder & CEO– Daniel Dines
Co-Founder & CTO– Marius Trica
Headquarters– New York, United State of America
<<Read Full News>>

Delhi CM Launches Online Portal for filing of Consumer Complaints 

On 8th September, 2020, Delhi Chief Minister Arvind Kejriwal launched the E-Filing consumer complaint system. Using this online portal, consumers can file consumer complaints from the comfort of home. Delhi is the first state to have this system. 
Delhi State Consumer Disputes Redressal Commission (DSCDRC) launched the portal via delhistatecommission.nic.in, it has been developed by National Informatics Centre (NIC). State Bank of India (SBI) is providing payment gateway for payment of fees digitally
About Delhi:
Governor – Anil Baijal
Wildlife Sanctuary – Asola Bhatti Wildlife Sanctuary
<<Read Full News>>

Uttar Pradesh SRLM signs MoU with UN World Food Programme for take-home ration Scheme

On September 8, 2020, Uttar Pradesh State Rural Livelihood Mission (SRLM) signed a Memorandum of Understanding (MoU) with United Nations World Food Programme (WFP), through which Take-Home ration will now be manufactured and supplied by Women self-help groups (SHGs).  
The agreement between WFP and SRLM’s representatives Yogesh Kumar, Mission Director, SRLM and Adeel Abbas was signed today in the presence of the State’s Chief Minister, Yogi Adityanath.
About Uttar Pradesh
Chief Minister – Yogi Adityanath
International Airports – Chaudhary Charan Singh International Airport, Lucknow and Lal Bahadur Shastri International Airport, Varanasi
<<Read Full News>>

AC GAZE

Veteran filmmaker Johnny Bakshi passes away at 82

On September 5 2020 Eminent producer-director Johnny Bakshi who was born in Pune, passed away at the age 82 due to Cardiac arrest reported by Arogya Nidhi hospital in Mumbai, Maharashtra.

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