Daily GK Update: 5 March 2020, Daily Current Affairs 2020:
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National (Current affairs)
♦ Gairsain to be summer capital of Uttarakhand
- The Chief Minister of Uttarakhand Trivendra Singh Rawat made a major announcement during the Uttarakhand budget session on March 04, 2020. The CM declared Gairsain as the summer capital of Uttarakhand during the budget session.
- In 2017, BJP had promised in its manifesto to declare Garsain as the summer capital of Uttarakhand.
- CM Rawat said that this announcement has been dedicated to the struggle of thousands of women, men and people involved in the struggle of the Uttarakhand.
Note: About Uttarakhand
- Capital: Dehradun
- Governor: Baby Rani Maurya
- CM: Trivendra Singh Rawat
International (Current Affairs)
♦ Luxembourg has launched the world’s first free nationwide public transport
- Luxembourg has become the first country with a free public transport system, with all fares for trams, trains and buses abolished as of February 29 2020. The one exception is first-class train travel, which will cost £2.60 (€3) per journey.
- The scheme was originally announced in 2018, with a summer 2019 launch planned, but delays pushed the move back to this year.
Note: About Luxembourg
- Capital: Luxembourg
- Currency: Euro
Banking and Financial
♦ Nabard infused Rs 1.46 lakh crore into rural banking system
- The National Bank for Agriculture and Rural Development (Nabard) on 4th March announced that it had infused `1.46 lakh crore in the rural banking system so far in FY20, which helps augment credit flow into agriculture and other economic activities in the rural areas.
- The development bank said that it had extended `87,069 crore to cooperative banks and regional rural banks in short-term refinance as on February 28, while long-term refinance of `59,502 crore had been provided to the banks and financial institutions.
Note: About NABARD
- Founded: 12 July 1982
- Headquarters: Mumbai
- Chairperson: Harsh Kumar Bhanwala (Next C. Govind Raju)
♦ Cabinet approves Mega Consolidation in Public Sector Banks (PSBs) with effect from 1.4.2020
- The Union cabinet on Wednesday approved the consolidation of 10 public sector banks (PSBs) into four entities, a move aimed at having fewer but stronger lenders in India. “The amalgamation is being done so that customers are able to reap the benefit of larger banks being scaled up and more fund being available for credit.
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♦ Zomato buys UberEats India for $206 million
- Ride-hailing major Uber sold its food delivery business in India to food-tech giant Zomato for $206 million according to the firm’s recent regulatory filings.
- Zomato had acquired UberEats India in January in an all-stock transaction with UberEats selling the business for a 9.99 per cent stake in the online food delivery business.
- The two companies had not disclosed the financial terms of the deal back in January.
- Zomato, apart from the payout also reimbursed $35 million in goods and services tax to the US-based ride-hailing giant.
- “The estimated fair value of the consideration received is $206 million, which includes the investment valued at $171 million and the $35 million of reimbursement of goods and services tax receivable from Zomato.
♦ Cabinet approves the Foreign Direct Investment policy 100% on Civil Aviation
- NRIs permitted to acquire upto 100% in Air India. To permit foreign investment upto 100% by those NRIs, who are Indian Nationals, in case of Air India, the Union Cabinet, chaired by the Prime Minister, Narendra Modi has approved to amend the extant FDI Policy to permit Foreign Investment (s) in Air India by NRIs, who are Indian Nationals, upto to 100% under automatic route.
♦ Ajay Bhushan Pandey appointed as the new Finance Secretary
- Government of India appointed the current Revenue Secretary Ajay Bhushan Pandey as the new Finance Secretary.
- Pandey replaces current Finance Secretary Rajiv Kumar. The Appointments Committee of the Cabinet has approved the appointment.
Note: List of Secretary
- Defence Secretary: Ajay kuamr
- New home secretar-Ajay Kumar Bhalla
- New Cabinet Secretary-Rajeev Gauba
- New foreign secretary-Harsh Vardhan Shringla
♦ Assam”s Jadav Payeng named Commonwealth Points of Light Award
- Environmental activist Jadav Payeng, popularly called the ‘Forest Man’, was named as the 128th Commonwealth Points of Light Award winner.
- Queen Elizabeth II has honoured Payeng for his exceptional voluntary service to environmental conservation. Based in Assam’s Jorhat district, 57-year-old Payeng has transformed a treeless sandbar along the Brahmaputra river into a 1,360-acre vibrant wildlife haven.
- Payeng has worked for years to transform the sandbar into a home to animals and birds of varied species, named ‘Molai forest’ after him.
♦ Mumbai set to host IOC session in 2023
- Mumbai will be hosting the International Olympic Committee’s (IOC) session in 2023. The announcement was passed by IOC president Thomas Bach.
- The committee chose India to encourage and support the National Olympic Committee of India and all the National Federations to promote and strengthen Olympic sport in the country.
- The decision by IOC committee is yet to be ratified at the 136th IOC session in Tokyo in July 2020.
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