Current Affairs 29 May 2020

We are here for you to provide the important Recent and Latest Current Affairs 29 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 20 Current Affairs of 29 May 2020

NATIONAL AFFAIRS

Government withdrew 7.75% Savings (Taxable) Bonds scheme due to declining interest rates

i.These bonds offered higher interest rate as compared to bank fixed deposits and other financial investment instruments offering equal degree of safety.
ii.7.75% Savings (Taxable) Bonds scheme was popular among retail investors for safety of principal and a regular income. NRIs were not eligible for making investments in these bonds. However, Interest on the Bonds is taxable.
About Reserve Bank of India (RBI):
Headquarters– Mumbai, Maharashtra
Formation– 1 April 1935
Governor– Shaktikanta Das
Deputy Governors– 4 (Bibhu Prasad Kanungo, Mahesh Kumar Jain, Michael Debabrata Patra, one is yet to be appointed).
<< Read Full News >>

CIPET renamed as Central Institute of Petrochemicals Engineering &Technology

On May 28, 2020, Central Institute of Plastics Engineering & Technology (CIPET) was renamed as Central Institute of Petrochemicals Engineering and Technology. CIPET is a premier national institution under the Ministry of Chemicals and Fertilizers, Government of India (GOI).
About CIPET:
Director- General– S. K. Nayak.
Headquarters– Guindy, Chennai, Tamil Nadu (TN).
<< Read Full News >>

INTERNATIONAL AFFAIRS

672 million children will be trapped in to poverty by the end of 2020 due to COVID-19 Impact: UNICEF report

According to the report “Children in monetary poor households and COVID-19: Technical Note” released jointly by the UNICEF (United Nations Children’s Fund) & Save the Children, the economic crisis caused by the coronavirus  (COVID-19) epidemic may increase the number of children living in poor households in low- and middle-income countries by 86 million (or an increase of 15%) to reach 672 million by the end of 2020.
i.According to the report, 2/3 of these children falling in the poverty line live in all of Sahara Africa and South Asia.
About United Nations Children’s Fund (UNICEF):
Headquarters– New York, US
Executive Director– Henrietta Fore
About Save the Children:
Headquarters- London, United Kingdom
<< Read Full News >>

 BANKING & FINANCE

ADB & India signs USD 177 million loan for road improvements in Maharashtra

On May 28,2020 The Asian Development Bank(ADB) and the Government of India signed a  USD 177 million loan to upgrade  11 state highways & 2 major district roads  with a combined length of 450 km to a 2-lane standard across seven districts of Maharashtra. 
About ADB:
Headquarters– Mandaluyong, Metro Manila, Philippine
President– Masatsugu Asakawa
<< Read Full News >>

ECONOMY & BUSINESS

India’s GDP growth to contract 5% in FY21: S&P Global Ratings

S&P Global Ratings (previously Standard & Poor’s) has projected India’s GDP (Gross Domestic Product) growth for the current fiscal year FY 21( 2020-21) to contract by 5 % from 1.8 % growth projected in April 2020, due to the lockdown imposed for the prevention of the coronavirus (COVID-19) pandemic, which severely affected economic activity in the country.
i.Earlier this week, rating agency Fitch & Crisil also forecast a negative growth of 5 % in the Indian economy.
About S&P Global Ratings:
Headquarters– New York, U.S.
President– John Berisford
<< Read Full News >>

Tech firm Vakrangee joins hands with LIC to distribute micro insurance products

Tech firm Vakrangee Limited (VL) has entered into the Corporate Agency (Registration Code CA0249) partnership with Life Insurance Corporation of India (LIC) to distribute latter’s micro insurance products in unserved and underserved areas through its Nextgen Vakrangee Kendra network spread across India.
About Vakrangee Limited:
Managing Director & CEO– Mr. Dinesh Nandwana
About Life Insurance Corporation of India (LIC):
Headquarters– Mumbai, Maharashtra     
Chairman– M R Kumar 
<< Read Full News >>

HIL(India) to supply 25 tonnes of pesticides to Iran to control locust invasion

On May 24, 2020 HIL, (India) Limited (Formerly- Hindustan Insecticides Limited) a Public sector undertakings(PSU) under Department of Chemicals and Petrochemicals, Ministry of Chemicals and Fertilizers is in process to produce & supply 25  tonnes  Malathion Technical to Iran for the Locust Control Program under government arrangements.
About NVBDCP
It was launched in 2003-04 by merging National anti -malaria control programme, National Filaria Control Programme and Kala Azar Control programmes
About MEA:
Union Minister– Subrahmanyam Jaishankar
Minister of State– V. Muraleedharan(Constituency- Vadakara, Kerala)
<< Read Full News >>

APPOINTMENTS & RESIGNATIONS          

Brazil’s Marcos Prado Troyjo elected as new President of NDB; SBI’s Anil Kishora vice-prez

i.Marcos Prado Troyjo will succeed eminent Indian banker Kundapur Vaman Kamath who took over as the first president of the bank in 2015.
ii.Nirmala Sitharaman attended Special Board of Governors meeting of NDB for the appointment of President through video-conference .
About NDB:
Formation– July 2015
Headquarters– Shanghai, China
Membership– Brazil Russia India China South Africa (BRICS)

• Recently, the bank has granted USD one billion loan to India under emergency assistance programme to fight COVID-19 in the country.
• Since its inception, NDB has approved 55 projects of member countries for an amount of $16.6 billion, which is quite a remarkable achievement. 

<< Read Full News >>

IOC appoints Narinder Batra as member of Olympic Channel Commission

On May 27, 2020, Indian Olympic Association (IOA) President Dr Narinder Dhruv Batra, 63 years old, was appointed as a member of the Olympic Channel Commission. Batra also heads the International Hockey Federation (FIH).
About International Olympic Committee (IOC):
Headquarters– Lausanne, Switzerland.
President– Thomas Bach.
<< Read Full News >>

JP Morgan’s Kalpana Morparia to retire & Leo Puri to take over

Leo Puri, the former Managing Director(MD) and Chief Executive Officer(CEO) of UTI Mutual Fund, will take charge as the chairman of JP Morgan, South and Southeast Asia after Kalpana Morparia(70 years old) retirement in 2021. She will stay in the company till Q1 of 2021.
About Kalpana Morparia
Kalpana Morparia is the latest among the senior-most women bankers to step down from their positions in the banking industry
About Leo Puri
Puri’s previous roles include senior partner and co-head of Asia Financial Services at McKinsey & Company and managing director for Warburg Pincus, India, where he was responsible for building the firm’s franchise in the country.
<< Read Full News >>

Zomato elevates food-delivery CEO Mohit Gupta as co-founder

Deepinder Goyal, Founder and (CEO) Chief Executive Officer of food ordering platform Zomato has virtually- appointed Mohit Gupta, the CEO- of its food delivery business as one of its co-founder. 
About Zomato:
Headquarters– Gurugram, Haryana.
Founders– Deepinder Goyal and Pankaj Chaddah.
<< Read Full News >>

SCIENCE & TECHNOLOGY

IAF operationalised its 2nd squadron No. 18 ‘Flying Bullets’ with the indigenous LCA Tejas Mk-1 Final Operational Clearance

The Indian Air Force(IAF) operationalised its 2nd squadron(Sqn) No. 18 ‘Flying Bullet’ equipped with Light Combat Aircraft (LCA) Tejas (Mk-1)Final Operational Clearance(FOC) at its Sulur Air Force Station in Coimbatore, Tamil Nadu. 
About ADA:
It is a Society under the Department of Defence Research and Development, Ministry of Defence, Government of India .
About DRDO:
Headquarters– New Delhi, India
Chairman– G. Satheesh Reddy
Defence Minister– Rajnath Singh( COnstituency- Lucknow, Uttar Pradesh)
<< Read Full News >>

ISRO receives patent for highland soil simulant for future lunar missions

i.This soil simulant represents the regolith (loose unconsolidated rock and dust that sits atop a layer of bedrock) of lunar highland region.
ii.It is made in bulk from anorthosite rocks, a sample similar to regolith identified and picked out from Sittampundi Anorthosite Complex, almost 67 km from Salem, in Tamil Nadu.
iii.It will be useful for scientific studies of lunar terrain relating to mobility/trafficability of rover for scientific explorations.
About ISRO:
Headquarters– Bengaluru, Karnataka
Parent organisation– Department of Space
Director– Kailasavadivoo Sivan
<< Read Full News >>

IMPORTANT DAYS

World Hunger Day 2020: May 28

World Hunger Day (WHD) is observed every year on May 28 globally. The objective of this day is to raise awareness about more than 820 million people living in chronic hunger worldwide. The day seeks sustainable solutions to hunger and poverty and to inspire everyone to be a part of the solution.
About The Hunger Project:
Headquarters– New York, United States (US).
<< Read Full News >>

STATE NEWS

Ladakh inaugurates the 1st Solar Lift Irrigation Plant of Kargil

Ladakh’s Director of Animal, Sheep Husbandry and Fisheries Mohammad Raza inaugurated the 1st Solar Lift Irrigation Plant of Kargil with five kilowatt(KW) Solar Plant and 3 Horsepower(HP) Submersible Pump(installed by Kargil Renewable Energy Agency- KREDA)  at Yak Breeding Farm, Bodh Kharboo.
About RGM:
It was launched in December 2014 with an outlay of Rs 2025 crore.
About KREDA:
Headquarters– Ladakh, Jammu & Kashmir
Project Director/CEO– Kacho Ahmed Khan
About Ladakh:
Lieutenant Governor– Radha Krishna Mathur 
<< Read Full News >>

The Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006 modified by Maharashtra Gov.

Maharashtra Governor Bhagat Singh Koshyari has made certain modifications in Section 6 of the Scheduled Tribes and Other Traditional Forest Dwellers (Recognition of Forest Rights) Act, 2006, (also called as Forest Rights Act-FRA) in its application to the Scheduled Areas of the State of Maharashtra.
About Maharashtra:
Capital– Mumbai
Chief Minister– Uddhav Thackeray
National Parks(NP)– Tadoba NP, Gugamal NP, Navegaon NP & Sanjay Gandhi NP.
<< Read Full News >>

Senior IAS officer Vishwas Mehta appointed as new Chief Secretary of Kerala

On May 27, 2020, The State Cabinet of Kerala appointed Additional Chief Secretary (Home) Vishwas Mehta as Chief Secretary (CS) of Kerala and will continue to hold the office till February 28, 2021. He will be the successor of Tom Jose, who retires on May 31, 2020.
About Kerala:
State tree– Coconut tree.
State fruit– Jackfruit.
<< Read Full News >>

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