Current Affairs 25 June 2020

We are here for you to provide the important Recent and Latest Current Affairs 25 June 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 25 June 2020

NATIONAL AFFAIRS

MSMEs Launches Funding Scheme “Distressed Assets Fund–Sub-ordinate Debt for MSMEs” to Help the Distressed MSME Sector

On 24 June 2020, Nitin Gadkari(Minister of Micro Small and Medium Enterprises) launched the Credit Guarantee Scheme for Sub-ordinate debt(CGSSD) which is also called the “Distressed Assets Fund–Sub-ordinate Debt for MSMEs” to provide Rs 20000 crore guarantee cover to two lakh MSMEs. 
The scheme was formally launched by Shri Nitin Gadkari, after the completion of formalities including approval of CCEA and consultation with the Finance Ministry, SIDBI and RBI among others.
Highlights of Scheme:-

• Promoters  of MSMEs are given credit equal to 15% of their stake(Equity plus debt) or Rs 75 lakh, whichever is lower.
• The maximum tenure for repayment will be 10 years.
• The scheme will be operationalised through Credit Guarantee Fund Trust for MSEs (CGTMSE).

About MSME:
Minister of MSME: Nitin Gadkari
Minister of State (Independent Charge): Pratap Chandra Sarangi
<< Read Full News >>

India Retains its Position as 3rd-largest Economy on PPP basis for 2017; China Tops: World Bank Data

i.In accordance with the World Bank Data under the International Comparison Program (ICP), revealed by India’s National Statistical Office (NSO) of Ministry of Statistics & Programme Implementation (MoSPI), India has retained its position as the third-largest economy in terms of purchasing power parity (PPP) for 2017 as it accounted for 6.7% or $8,051 billion out of world total of $119,547 billion of global Gross Domestic Product (GDP).
ii.India has followed China (16.4%) and the United States-US (16.3%) which ranked 1st and 2nd respectively.
iii.Overall 19 economies, representing nearly 64% of the global population, contributed three-quarters of global GDP.
About World Bank:
Headquarters– Washington, D.C., United States
member Countries– 189
President– David Robert Malpass
About MoSPI:
Minister of State (Independent Charge)– Rao Inderjit Singh
<< Read Full News >>

INTERNATIONAL AFFAIRS

India Committed USD 10 mn to UNRWA Over Next 2 Years During Extraordinary Virtual Ministerial Pledging Conference 

i.During an Extraordinary Virtual Ministerial Pledging Conference for United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), India has announced a contributing United States (US) $10 million towards UNRWA over the coming two years.
ii.From Indian side, the conference has been addressed by Minister of State (MoS) for External Affairs, Vellamvelly Muraleedharan.
iii.India provides 250 annual scholarships to Palestinian youth and officials, apart from regular customised training programmes, and our current project grant is around US$72 million.
About UNRWA:
Headquarters– Amman, Jordan;Gaza, Israel
Commissioner-General– Philippe Lazzarini
About Ministry of External Affairs (MEA):
Union Minister– Dr. Subrahmanyam Jaishankar
Foreign Secretary– Harsh Vardhan Shringla
<< Read Full News >>

Covid-19 to Push Additional 120 Million Children into Poverty in South Asian Region : UNICEF Report

On 23rd June 2020, The United Nations Children’s Fund (UNICEF) released its first report focusing on the South Asian region on the impacts of COVID-19 on children states that around 240 million children are classified as poor and the current COVID-19 situation will affect an additional 120 million children, a total of 360 million children will be pushed into poverty and food insecurity in the next 6 months.
About UNICEF:
Executive Director– Henrietta Fore
Headquarters– New York, United States of America
About UN:
Secretary General– António Guterres
Headquarters– New York, United States of America
<< Read Full News >>

India Became 12th Largest Holder of US govt Securities with Holdings of $157.4 bn in April end 2020; Japan tops

i.In accordance with the data from the United States (US) Treasury Department, India became the 12th largest holder of US government securities at the end of April, 2020 with holdings of worth $157.4 billion, which has increased marginally by $0.9 billion in comparison to March month’s $156.5 billion.
ii.The country with maximum exposure to US government securities is Japan at US$1.266 trillion followed by China and the United Kingdom (UK) at the second and third positions, respectively at the end of April 2020.
About US govt Securities:
The US dollar/ Treasury Securities (Bills, Notes, Bonds, Inflation-Protected Securities) backed by the US treasury department are one of the safest asset class for any central bank with regards to investment, despite getting the lowest returns.
About US:
Capital– Washington, D.C.
President– Donald John Trump
<< Read Full News >>

BANKING & FINANCE

World’s First Gold-backed US Digital Gold Currency Launched in India, GCC, Middle East and Africa by IBMC

i.IBMC Financial Professionals Group in partnership with US Gold Currency Inc and Blockfills introduced the world’s first monetary gold-backed US Gold digital currency in India, Gulf Cooperation Council (GCC), Middle East and Africa. It was launched from Dubai, United Arab Emirates (UAE) at a specially designed IBMC Hybrid Event in the virtual presence of officials from the US Gold Currency, Asia-Africa Development Council, GSEF and Blockfills USA.
ii.Each US Gold digital currency is backed by US American Eagle one ounce (33.931 gram) gold coin, minted by US Federal Agency, US Mint. 
About IBMC Financial Professionals Group:
Chairman– Sheikh Khalid Bin Ahmed Al Hamed and 
Chief Executive Officer (CEO) & Managing Director (MD)– Mr Sajith Kumar PK
About USGold:
US Gold Currency, Inc. provides the American Gold Eagle coin in a Digital Blockchain Receipt – the “USGold Token”, each one fully collateralized 1:1 with a 1oz American Gold Eagle coin. Referred to as “USG” – for the US Gold Dollar.
Headquarter– Jackson, Wyoming, US 
About Blockfills:
Headquarter– Chicago, US
<< Read Full News >>

ECONOMY & BUSINESS

India’s GDP to contract by 5.3% in FY21, bounce back in FY22: Ind-Ra

i.In accordance with the India Ratings and Research (Ind-Ra), India’s Gross domestic Product (GDP) is likely to shrink by 5.3% in FY20-21, the lowest GDP growth in the Indian history. It will contract in each quarter in FY21 (April 2020 to March 2021). For FY21-22, it is expected that GDP growth would bounce back in the range of 5-6%. 
ii.This will be the lowest GDP growth in the Indian history (Indian GDP data is available from FY51) and sixth instance of economic contraction, others being in FY58, FY66, FY67, FY73 and FY80; the previous low was negative 5.2% in FY80.
About Ind-Ra:
It is a 100% owned subsidiary of the Fitch Group.
Chief Executive Officer (CEO) & Managing Director (MD)– Rohit Karan Sawhney
Headquarter– Mumbai, Maharashtra
<< Read Full News >>

AWARDS & RECOGNITIONS        

Gulabbai Sangamnerkar & Madhuvanti Dandekar to get Lifetime Achievement Award: Maharashtra

i.Maharashtra Culture Minister Amit Deshmukh announced that Vithabai Narayangaokar lifetime achievement award 2018-19 will be conferred upon the senior tamasha (folk art) artist, Gulabbai Sangamnerkar.
ii.Sangeetacharya Annasaheb Kirloskar musical theatre lifetime achievement award 2019-20 will be given to Veteran theatre actress-singer Madhuvanti Dandekar.
About Maharashtra
Capital– Mumbai
Chief Minister– Uddhav Thackeray
Governor– Bhagat Singh Koshyari
<< Read Full News >>

ACQUISITIONS & MERGERS   

Adani Power to Acquire US-based AES Corporation’s 49% Equity Stake in Odisha Power Generation Corporation for USD 135 million

i.Adani Power Ltd (APL) has signed an agreement to acquire the 49% of stake(a total of 89,30,237 equity shares) in Odisha Power Generation Corporation(OPGC) from the affiliates of the US-based global energy company, AES Corporation(AES) for USD 135 million (around Rs 1,019 crore).
ii.The remaining 51% stake in OPGC is held by the Government of Odisha.
About OPGC:
Headquarters- Bhubaneswar, Odisha
Chairman– Nikunja Bihari Dhal, IAS
Managing Director– Indranil Dutta
About APL:
Headquarters– Ahmedabad, Gujarat
Chief Executive Officer(CEO)– Vneet S. Jaain
<< Read Full News >>

     SCIENCE & TECHNOLOGY

HRD Ministry Launches YUKTI 2.0 for Higher Education Institutes

i.On 23rd June 2020,Ramesh Pokhriyal ‘Nishank’, The Union Minister of Human Resource Development, launched “YUKTI 2.0”, a platform to support the startups incubated in the institutes of higher education over the virtual platform.
ii.YUKTI 2.0 is a logical extension of YUKTI, which will help in fostering the innovation and entrepreneurship culture in the academic institutions.
Ministry of HRD:
Minister– Ramesh Pokhriyal ‘Nishank’
Minister of State– Sanjay Dhotre
<< Read Full News >>

SPORTS

World Karate Federation provisionally de-recognised the Karate Association of India

i.The World Karate Federation (WKF) has provisionally de-recognised the Karate Association of India(KAI) with immediate effect from June 21 for infighting and violating the WKF statutes during its 2019 elections.
ii.KAI can present an appeal to the Disciplinary and Legal Commission within 21 days after the Executive Committee’s notification of the provisional affiliation or disaffiliation and/or the final affiliation or disaffiliation decision by the Congress.
About WKF:
Headquarters– Madrid, Spain
President– Antonio Espinós
<< Read Full News >>

OBITUARY

Batman,Hollywood Director Joel Schumacher passed away

On 22nd June 2020, the Costume designer cum Film Director Joel Schumacher who suffered from cancer for the past one year passed away at the age of 80 in New York, United States of America(USA). He was born on August 29, 1939 in New York, USA.
Career:
i.He was the production designer for telefilm Killer Bees in 1974.His most well known directed movies are St Elmo”s Fire”, “Falling Down” as well as two “Batman” movies
ii.He became a writer in the late 1970’s for the films like “Sparkle” , “Car Wash” and film adaptation of Broadway musical “The Wiz”.
iii.He debuted as a director for the sci-fi comedy “The Incredible Shrinking Woman” in 1981.
Achievements:
He received the Distinguished Collaborator Award from the Costume Designers Guild and was nominated for the Daytime Emmy Award for the mental health documentary ‘Half of Us’ in 2011.

Former Karnataka Basketball Player K Raghunath Passed Away at 74

On June 24, 2020 Former Karnataka Basketball Player K Raghunath passed away at 74 due to age-related complications. He was one of the founding members of the Beagles Basketball Club(BC), Bengaluru.He was popularly called as pappachi.
About K Raghunath
i.Raghunath started his basketball career in 1958. He has been a part of the Bangalore University team for 5 years, where he served as a captain for 2 years & also won 3 championships.
ii.He represented the Indian All- Star team in Srilanka(1962). In the 1960s he played for the state with distinction.
iii.He worked in Asian Paints for over 25 years & still contributed to the success of Beagles BC.
About Karnataka:
Capital– Bengaluru 
Chief minister– B. S. Yediyurappa
Governor– Vajubhai Rudabhai Vala

STATE NEWS

Government of Haryana and Reliance Jio TV partners to educate 52 Lakh students

On 23rd June 2020, Kanwar Pal, Education Minister of Haryana announced that The Government of Haryana under the Chief Minister’s Distance Education Programme signed an agreement with Reliance Jio TV to benefit around 52 lakh rural students during the COVID-19 pandemic.
About Reliance Industries Limited:
Chairman and Managing Director– Mukesh D. Ambani
Founder Chairman– Dhirubhai Ambani
Headquarters– Mumbai, Maharashtra
About Haryana:
Governor– Satyadeo Narain Arya
Chief Minister– Manohar Lal Khattar
Capital– Chandigarh
<< Read Full News >>

Rajasthan Government to Launch ‘Indira Rasoi Yojna’

On 22nd June, the Chief Minister of Rajasthan, Ashok Gehlot announced ‘Indira Rasoi Yojna’ (Indira kitchen scheme), to provide pure nutritious food to the poor twice a day at concessional rates. A sum of Rs 100 crore will be spent every year on this scheme.This yojna has been created in memory of great leader Indhira Gandhi.

Key Points:-

• Mr. Gehlot made the announcement during a video conference while inaugurating an awareness campaign on COVID-19.
• The respective district collectors will head the scheme in every district.
• The government will line up with NGOs for successful implementation.
• The rates for the meals have not been finalised yet.

Previous Food Scheme:-

• The previous meal scheme of Rajasthan, Annapuran Rasoi Yojana was launched in December 2016 .It was launched by Vasundhra Raju, the then Chief Minister of Rajasthan.
• The food were provided at rates of Rs 5 and Rs 8 for breakfast and lunch respectively and was expired on March 31st 2020.

About Rajasthan:
Capital: Jaipur
Chief Minister: Ashok Gehlot

Tripura Government to launch ‘Ektu Khelo, Ektu Padho’ for school students

i.Tripura Education Minister Ratan Lal Nath informed that, ‘Ektu Khelo, Ektu Padho’(Play little, Study little’), an initiative for school students upto class VIII will be launched on June 25. 
ii.Students with access to android phones will get audio and video contents on learning activities,projects with fun and gaming activities through WhatsApp. Others will get through SMS.
About Tripura:
Capital– Agartala
Governor– Ramesh Bais
Chief Minister– Biplab Kumar Deb
<< Read Full News >>

Jharkhand to Launch Employment Guarantee Scheme “Mukhyamantri SHRAMIK Yojna” for Urban Poor

On 21st June 2020, Jharkhand is set to launch a 100-day employment scheme “Mukhyamantri SHRAMIK (Shahri Rozgar Manjuri For Kamgar) Yojna” to enhance the livelihood and security of urban poor. This scheme is in line with the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS).
About Jharkhand:
Governor– Draupadi Murmu
Chief Minister– Hemant Soren 
Capital– Ranchi
<< Read Full News >>

Madhya Pradesh Madhya Kshetra Vidyut Vitaran Company Introduces Nishtha Vidyut Mitra Scheme for Women Empowerment

On June 22, 2020 The Madhya Pradesh Madhya Kshetra Vidyut Vitaran Company Limited(MPMKVVCL) introduced the Nishtha Vidyut Mitra Scheme for women empowerment. Under this scheme, women Self-Help Groups at Gram Panchayat level will act as Nishtha Vidyut Mitra.
Gist about the scheme
i.The scheme will increase the revenue collection of the company & women will also earn additional income as the company will pay an incentive to Nishtha Vidyut Mitra for recovery of dues and new connections. 
ii.It has been implemented in the Gram Panchayats of all 16 districts of Bhopal, Narmadapuram, Gwalior and Chambal divisions of the company’s jurisdiction.
Role of Women Self-Help Groups in the scheme
i.The women Self-Help Groups will encourage consumers to pay bills online or through the Upay App. They will rectify various consumer complaints like faulty meters and replace them with new connections through online processes. 
ii.They will provide information about the electricity theft and illegal use of electricity to the company.
About MPMKVVCL:
Headquarters– Bhopal, Madhya Pradesh
Managing Director- Vishesh Garhpale

AC GAZE

world’s largest chariot festival Rath Yatra in Puri: Odisha

World’s largest chariot festival Rath Yatra of Jagannath temple held in coastal district of  Puri, Odisha under curfew, After Supreme Court had decided to allow it to be held with the coordination of the temple committee, State and Central government without compromising with the health issue pertaining to COVID-19.

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