Daily GK Update: 27 April 2020, Daily Current Affairs 2020:
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National (Current affairs)
♦King George Medical University in Lucknow becomes 1st govt hospital to successfully launch Plasma Therapy Treatment for COVID-19
- The King George Medical University in Uttar Pradesh has become the first government hospital in the country to successfully launch the plasma therapy treatment for the COVID-19 patients
- First dose of the plasma therapy was given yesterday to a 58-year old patient. Vice Chancellor of the KGMU Prof MLB Bhatt termed it a proud moment for university and said that we were preparing for the Plasma Therapy right from the approval from Indian Council of Medical Research. The plasma was already secured from the three recovered COVID-19 patients who were treated at KGMU itself.
♦World Bank ties-up with AIMA to organize virtual workshop on “Contract Management during Emergency situations”
- World Bank (WB) has joined hands with AIMA (All India Management Association), one of the most renowned business schools in India, to organize a virtual workshop called “The Contract Management during Emergency situations”.
- Aim: To create awareness about the likely impact of the coronavirus (COVID -19) pandemic on the implementation of the bank-funded projects.
Note: About World Bank
- Headquarters: Washington, D.C., United States
- Parent organization: World Bank Group
- Membership: 189 countries (IBRD); 173 countries (IDA)
- Founded: 1944
♦NTPC launched Hydrogen Fuel bus and car project for Leh, New Delhi
- India’s largest power producer, NTPC Ltd, has invited Global Expression of Interest (EoI) to provide 10 Hydrogen Fuel Cell (FC) based electric buses and an equal number of Hydrogen Fuel Cell-based electric cars in Leh and Delhi.
- Aim: The first of its kind move aims to procure Hydrogen Fuel Cell-based vehicles is a project in the country. It will provide complete solutions from green energy to the fuel cell vehicle. It will support renewable energy for the generation of hydrogen and develop the storage and dispensation facilities under the pilot projects at Leh and Delhi.
Note: About NTPC
- Founded: 1975
- Headquarters: New Delhi, India
♦IIT-Kharagpur ranked top in India, 57th globally in THE Impact Rankings
- IIT-Kharagpur was ranked the most impactful Indian institute and 57th globally in Times Higher Education Impact Rankings 2020 out of over 766 universities from 89 countries and regions. The index ranked higher educational institutes in terms of social and economic impact they make in society. University of Auckland topped the list followed by University of Sydney and Western Sydney University.
Banking and Financial
♦RBI announces ₹50,000 crore special liquidity facility for mutual funds
- The Reserve Bank of India on 27th April announced a special liquidity facility of ₹50,000 crore for mutual funds in the wake of the winding up of six debt funds by Franklin Templeton.
- “Heightened volatility in capital markets in reaction to COVID-19 has imposed liquidity strains on mutual funds (MFs), which have intensified in the wake of redemption pressures related to closure of some debt MFs and potential contagious effects therefrom. The stress is, however, confined to the high-risk debt MF segment at this stage; the larger industry remains liquid.
♦Ind-Ra cuts India’s FY21 GDP growth further to 1.9%
- India Ratings (Ind-Ra) has further slashed its growth expectations for the economy to 1.9% for the ongoing fiscal, down from 3.6% in March, according to its latest report on Monday.
- This will be the lowest GDP growth in the last 29 years and is based on the assumption that the partial lockdown will continue till mid-May, the report said. The last time India experienced such low levels of growth was during FY1992 at 1.1%.
Note: India GDP projected F21
- India Ratings & Research-3.5%
- World Bank:1.5% to 2.8%
- ADB– 4%
- UN- 4.8
- IMF- 1.9%
♦CARE Ratings expects GDP growth at 1.1% in FY21
- CARE Ratings on 25th April said the country’s GDP growth is likely to decline to 1.1 per cent in the current financial year 2020-21 due to the coronavirus pandemic. The domestic rating agency added that the estimate has a “downward bias”, saying predicting the recovery is very difficult at present.
♦Transcorp becomes the 1st non-bank company to receive RBI nod to enter into co-branding arrangements
- Transcorp International Ltd has received RBI nod for entering into co-branding arrangements for Prepaid Instruments that can be used in over 35 lakh stores and online gateways. With this, Transcorp has become one of the first non-bank companies to obtain this authorization from RBI, the company said in a statement.
- Transcorp will be launching API based co-branded partnerships for Digital, Physical and Contactless cards with select marquee clients on its own BINs. These cards can be used by partners, financial institutions and corporate houses to facilitate their core business activities while allowing safe transactions to serve their existing and new customers even if they do not have a bank account.
♦India third largest military spender in world, after US and China
- India has become the third largest military spender in the world, after the US and China, according to a Stockholm International Peace Research Institute (SIPRI) report. This is the first time that India and China are among the top three military spenders.
- India’s “tensions” and “rivalry” with Pakistan and China are among the main reasons for its increased military expenditure. India’s military spending grew by 6.8 percent to $71.1 billion in 2019, according to the SIPRO report on “Trends in World Military Expenditure, 2019”. This was the highest military spending in South Asia.
♦Umar Akmal banned for three years from all forms of cricket for corruption charges
- Umar Akmal has been banned from all forms of cricket for three years on corruption charges, the Pakistan Cricket Board (PCB) announced on 27th
- “Umar Akmal handed three-year ban from all cricket by Chairman of the Disciplinary Panel Mr Justice (retired) Fazal-e-Miran Chauhan,” the Pakistan Cricket Board said in a tweet.
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