Daily Gk update: 28th May 2020, Daily Current Affairs

Daily GK & Current affairs is very important for any Government and other Competitive Exams. All the important updates based on current affairs 2020 are included in this Daily Current Affairs 28 May 2020 article.

Daily GK Update, 28 May 2020, Daily Current Affairs 2020:

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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 Daily Current Affairs 2020Daily 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, IBPSSBI POSSCRailways  , SBI Clerk 2020 and State Exam of 2020.

National (Current Affairs)

♦Aarogya Setu becomes world’s largest contact tracing app: Dr Harsh Vardhan

Aarogya Setu becomes world's largest contact tracing app: Dr Harsh Vardhan

  • Health Minister Dr. Harsh Vardhan on 27th May said, Aarogya Setu has become world’s largest contact tracing app reaching over 11 crore 40 lakh people in 40 days.
  • Government launched the Aarogya Setu mobile app on 2nd of April to help augment the efforts of limiting the spread of COVID-19. The app is available in 12 languages and on Android, as well as iOS platforms. The key pillars of Aarogya Setu have been transparency, privacy and security.

International (Current Affairs)

♦Taiwan President Tsai Ing-wen Begins Her Second Term

Taiwan President Tsai Ing-wen Begins Her Second Term

  • Taiwan President Tsai Ing-wen took the oath for her second four-year term on 27th May, buoyed by record-high popularity as the country continues its successful response to the COVID-19 pandemic.
  • Tsai also pledged to engage in dialogue with Beijing provided it respects Taiwan’s sovereignty and rejects its “one country, two systems” formula, reiterating the cross-strait stance that fueled her landslide re-election victory in January.
  • Congratulatory Video Messages from 2 Indian BJP MPs; virtual ceremony attended by Sohang Sen. Meenakshi Lekhi: Constituency- New Delhi (NCT of Delhi), Rahul Kaswan: Constituency- Churu (Rajasthan).

Note: About Taiwan

  • Capital: Taipei
  • Currency: Taiwan dollar

Banking and Financial 

ADB, India sign $177 million loan for state road improvements in Maharashtra

ADB, India sign $177 million loan for state road improvements in Maharashtra

  • The Asian Development Bank (ADB) and the Government of India on 28th May signed a $177 million loan.
  • Purpose:  To upgrade 450 kilometers (km) of state highways and major district roads in the state of Maharashtra. Overall the project will upgrade 2 major district roads and 11 state highways, with combined length of 450 km, to 2-lane standard across seven districts of Maharashtra, and improve connectivity to national highways, interstate roads, seaports, airports, rail hubs, district headquarters, industrial areas, enterprise clusters and agricultural areas.

Note: ADB Provide loan different sector 2020

  • ADB- 346 million (connection in rural areas of Maharashtra)
  • ADB-USD 1.5 billion (Help fund its fight against coronavirus pandemic)
  • ADB- $100 million ( Indian infrastructure sector through the government-promoted National Investment and Infrastructure Fund’s (NIIF))

Sebi imposes a penalty of Rs 7 lacs on NHAI for disclosure lapses

Sebi imposes a penalty of Rs 7 lacs on NHAI for disclosure lapses

  • Capital markets regulator Sebi on 26th May imposed a penalty of Rs 7 lakh on the National Highways Authority of India (NHAI) for delay in making timely disclosure about financial results.
  • Sebi had conducted an examination in the matter of NHAI from financial year 2015-16 to 2018-19.

Note: About SEBI

  • Headquarters: Mumbai
  • Founded: 12 April 1992
  • Chairman: Ajay Tyagi

S&P projects Indian economy to contract 5% in FY21

S&P projects Indian economy to contract 5% in FY21

  • S&P Global Ratings on 28th May forecast Indian economy to contract 5 per cent (Means -5%) in FY 21 as the lockdown imposed to contain COVID-19 pandemic has curtailed economic activity severely.
  • Earlier rating agencies Fitch and Crisil too had projected a 5 per cent contraction for the Indian economy.

Note: India GDP projected F21

  • Moody-0%
  • India Ratings & Research-5%
  • ICRA—(-5%)
  • World Bank:5% to 2.8%
  • ADB– 4%
  • UN-2%
  • IMF-9%
  • SBI– (-)6.8%
  • CIRIS: (-) 5%
  • Fitch: (-) 5%

♦Ola Electric acquires Etergo, to launch electric two-wheeler in 2021

Ola Electric acquires Etergo, to launch electric two-wheeler in 2021

  • Ola Electric on 27th May acquired the Netherlands-based Etergo BV, an innovative electric scooter company known for its award-winning AppScooter for an undisclosed sum, and announced its foray into the premium electric two-wheeler market, both globally and nationally.
  • Aims: Aiming to launch its global electric two-wheeler in India in 2021, Ola Electric is currently running several pilots to deploy electric vehicles and charging solutions across cities with a focus on two and three wheelers, and aims to build a suite of electric and smart urban mobility solutions for citizens.

♦ITC to acquire 100% equity share capital of Sunrise Foods

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  • ITC Limited has entered into a Share Purchase Agreement (SPA) on May 23, 2020 to acquire 100% of the equity share capital of Sunrise Foods Private Limited (SFPL), a company primarily engaged in the business of spices under the trademark ‘Sunrise’, subject to fulfilment of various terms and conditions as specified in the SPA.
  • Sunrise is a clear market leader in eastern India in the fast-growing Spices category with a rich heritage and brand legacy of over 70 years. Over the years, the brand has built a loyal consumer franchise, anchored on a differentiated product portfolio tailored to regional tastes and preferences, both in the basic and blended spice segments.

♦Flipkart, Karnataka  Mango Board tie up to help farmers sell online

Flipkart, Karnataka  Mango Board tie up to help farmers sell online

  • Flipkart and Karnataka State Mango Department and Marketing Corporation signed a memorandum of understanding (MoU) on 26th May, enabling mango farmers sell their fresh produce online through the Flipkart platform.
  • This mango season, consumers would have access to various varieties of the fruit across the districts of Bengaluru urban, Kolar, Haveri, Hubballi-Dharwad and Belgaum.

Appointment 

♦Brazil’s Marcos Troyjo is NDB’s new President, India’s Anil Kishora is VP

Brazil’s Marcos Troyjo is NDB’s new President, India’s Anil Kishora is VP

  • Marcos Prado Troyjo, former deputy economy minister of Brazil will replace KV Kamath as the president of the New Development Bank’s (NDB), a multilateral financial institution set up to mobilise resources for infrastructure and sustainable development projects in BRICS and other emerging economies.
  • The board of governors also appointed Anil Kishora, an Indian, as vice president of the NDB. Kishora, a banker, has 38 years of experience at India’s largest bank, State Bank of India (SBI). Before joining the NDB, he worked as the deputy managing director and chief risk officer of the state-run SBI.

Note: About NDB

  • Headquarters location: Shanghai, China
  • Founded: 15 July 2014
  • Founder: BRICS ( Brazil, Russia, India, China and South Africa)

BBB selects SN Rajeswari as CMD of Oriental Insurance

BBB selects SN Rajeswari as CMD of Oriental Insurance

  • SN Rajeswari, General Manager, New India Assurance (NIA), has been selected by the Banks Board Bureau (BBB) as the Chairman and MD of the Delhi-based Oriental Insurance Company (OIC) after an online video interview process in the wake of the lockdown.
  • With this move, there are clear indications that the Centre is not in a hurry to implement the 2-year old proposal to merge three PSU general insurers, OIC, National Insurance Company (NIC) and United India Insurance.
  • The BBB had conducted virtual interviews of five senior general managers of the public sector general insurance industry — with two years of residual services till May 2022 — to select a CMD for OIC on 27th May.

IOC appoints Narinder Batra as member of Olympic Channel Commission

IOC appoints Narinder Batra as member of Olympic Channel Commission

  • Indian Olympic Association (IOA) president Narinder Batra has been appointed as a member of the Olympic Channel Commission.
  • In a letter to International Olympic Committee president Thomas Bach, Batra, who had become an IOC member in June last year, expressed his gratitude after being selected for the role.

Note: About International Olympic Committee

  • Headquarters: Lausanne, Switzerland
  • President: Thomas Bach
  • Founded: 23 June 1894, Paris, France

Obituary 

♦Noted Urdu writer and Padma Shri awardee Mujtaba Hussain passes away aged 83

Noted Urdu writer and Padma Shri awardee Mujtaba Hussain passes away aged 83

  • Renowned Urdu writer and Padma Shri winner Mujtaba Hussain passed away on 27th May in Hyderabad after suffering cardiac arrest.
  • Mujtaba Hussain was known for his humorous writings and columns in Urdu newspapers and books. Some of his notable works include his autobiographical satire titled Apne Yaad Mein, and his other writings like Urdu ke sheher urdu ke log, Behar hall, Safar lakht lakht and Mera Column. He was awarded the Padma Shri in 2007.

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