Daily GK Update: 23 and 24 May 2020, Daily Current Affairs 2020:
Here we are regularly update the Daily GK Update & Current affairs 2020. If you are preparing for Government Job Exams then it is very important for you to read the Current Affairs 2020, Daily GK Update 2020. All the important updates based on current affairs 2020 are included in this Daily Current Affairs 2020 article. All the serious candidates are advised to bookmark this page and read the GK Update on daily basis. It will help you mug up the important current affairs 2020 / Daily GK Update for LIC, IBPS, SBI PO, SSC, Railways , SBI Clerk 2020 and State Exam of 2020.
National (Current Affairs)
♦‘Hunar Haat’ to make comeback in September with theme ‘Local to Global’
- ‘Hunar Haat’ a platform for artisans/craftsmen which helps them to generate employment, will return in September with a ‘Local to Global’ theme after an over five-month gap due to the coronavirus pandemic. It is an initiative by the Minority Affairs Ministry.
- Minority Affairs Minister Mukhtar Abbas Naqvi said on 23rd May that ‘Hunar Haat’ had provided employment and employment opportunities to more than five lakh Indian artisans, craftspeople, culinary experts in the last five years and had become popular among the people.
International (Current Affairs)
♦World Bank to rescue with $160-billion aid to 100 nations
- The Covid-19 pandemic is expected to put over 60 million people into extreme poverty globally, the World Bank has said as it announced emergency operations worth $160 billion in 100 developing countries to fight the deadly virus.
- Of the 100 countries, home to 70 per cent of the world’s population, 39 are in Sub-Saharan Africa.
About World Bank
- Headquarters: Washington, D.C., United States
- President: David Malpass
- Membership: 189 countries (IBRD); 173 countries (IDA)
♦Microsoft stopped online sale of Huawei laptops after US ban on Chinese tech companies
- Microsoft has removed the Huawei laptops it sold on its online store. The move of Microsoft is to comply with the US President’s executive order to crack down on Chinese tech companies.
- Google cut off Huawei’s Android license but Microsoft stayed silent on whether it will prevent the Chinese company from obtaining Windows licenses. For now, Huawei has been granted a 90-day extension to provide software updates to Android-powered handsets and maintain continued operation of existing networks and equipment.
Note: About Huawei
- CEO: Ren Zhengfei
- Headquarters: Shenzhen, China
Banking and Financial
♦RBI governor Shaktikanta Das address to the press conference: Highlights
RBI Governor Shaktikanta Das said the GDP growth in FY21 is expected to be in negative territory. Besides, the Reserve Bank of India (RBI) also slashed repo rate by 40 basis points (bps) to 4 per cent and maintained the stance ‘accomodative’. Consequently, reverse repo rate now stands at 3.35 per cent from 3.75 per cent earlier.READ MORE…………
♦IRDAI allows Union Bank of India to continue 30% holding in IndiaFirst Life Insurance
- Insurance Regulatory and Development Authority of India (IRDAI) has allowed Union Bank of India’s proposal to continue with its 30 prcent holding in IndiaFirst Life Insurance with the condition that the lender will hold no control in the management of the insurer.
- Earlier, the bank was expected to divest either the entire stake in IndiaFirst Life Insurance, or a considerable part of it, as IRDAI guidelines restrict a lender to own more than 10 percent stake in two insurance companies.
- The state-owned lender also holds 25.1 percent stake in Star Union Dai-Chi Life and it received a promoter stake in IndiaFirst Life Insurance in April previously held by Andhra Bank following its ‘mega’ merger on April 1 with Andhra Bank and Corporation Bank.
Note: About IRDAI
- Founded: 1999
- Sector: Insurance
- Headquarters: Hyderabad
- Chairperson: Subhash Chandra Khuntia
♦CCI approves 100% acquisition of Emami Cement by NVCL
- The Competition Commission of India (CCI) has approved acquisition of 100% of the total issued and paid up share capital of Emami Cement Limited (ECL), on a fully diluted basis, by Nuvoco Vistas Corporation Limited (NVCL).
- The proposed combination pertains to the acquisition of 100% of the total issued and paid up share capital of Emami Cement Limited (“ECL”), on a fully diluted basis by Nuvoco Vistas Corporation Limited (“NVCL”).
♦UN downgraded the global economy growth forecast to 2.7% in 2019
- United Nations (UN) in its mid-year report on economic prospects named “World Economic Situation and Prospects (WESP) 2019 Mid-year Update” diminished the global economic growth forecasts for 2019 to 2.7% and for 2020 to 2.9%. In the January predictions, the economic growth was projected at 3% for both years.
- The reason behind the lowering of the forecast is high trade tensions, uncertainty over political policies and a complicated confluence of internal and external factors affecting most of the developed and developi ng economies. Among developed economies, United States’ will grow at 2.3%, while the European Union’s overall economy will expand at 1.5%, Japan at 0.8% and Russia at 1.4%.
♦Telangana records 15% GSDP growth in FY19 with Rs. 8,66,875 crore
- Telangana recorded 15% Gross State Domestic Product (GSDP) growth for the Financial year ended March 31 , 2019 with Rs.8,66,875 crore. For the year 2018, it stood at Rs. 7,53,804 crore.
- The capital expenditure for the year was Rs. 47,038 crore and this was the main reason for recording the highest growth rate.
- The total capital expenditure from 2014-15 to 2018-19 was Rs. 1,64,51 9 crore.
Note: About Telangana
- Capital: Hyderabad
- Governor: Tamilisai Soundararajan
- Chief minister: K. Chandrashekar Rao
♦Bengaluru doctor Hema Divakar gets “Global Asian award”
- Bengaluru-based medical doctor Hema Divakar was honoured with the ‘Global Asian of the Year 2018-19’ award in Dubai recently for her yeomen services and contributions to the women’s healthcare ecosystem, in India, said its organiser ‘Asia One’ magazine’s publisher on 19th May.
- Hema received the award at the Asian Business & Social Forum 2019 under the ‘In Service of the Society and the Nation’ category from UAE’s Trade Promotion Director Mohammed Naser Hamdan Al Zaabi.
♦23 May: International Day to End Obstetric Fistula
- International Day to End Obstetric Fistula (IDEOF) is observed on 23 May. The day is celebrated by the United Nations. In 2003, the United Nations Population Fund (UNPF), formerly known as the United Nations Fund for Population Activities (UNFPA) and its partners had launched a global campaign to End Obstetric Fistula.
- Theme 2020:”End gender inequality! End health inequities! End Fistula now!”.
Revision Important Day (May)
- May 11: National Technology Day
- May 12: International Nurses Day
- May 15: International Day of the Family
- May 17: World Telecommunication Day; World Hypertension Day
- May 18: World AIDS Vaccine Day; International Museum Day
♦23rd May: World Turtle Day
- The World Turtle Day is celebrated annually on May 23, since 2000. The main aim behind the celebration of this day is to spread awareness about the protection of the natural habitat of turtles and tortoises.
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