Monday 3 August 2020

ONE LINER OF THE DAY 3rd AUGUST 2020


1.On the occasion of World Sanskrit Day, All India Radio will broadcast its first-ever special program in Sanskrit.The 20-minute program titled, 'Bahujan Bhasha-Sanskrit Bhasha'.World Sanskrit Day is celebrated on the Poornima of the Shravan month.Union Education Minister: Ramesh Pokhariyal Nishank.

2.The United Arab Emirates (UAE) announced the start-up operations of its first nuclear power plant in capital Abu Dhabi. The project is expected to cover 25 percent of the country's energy needs and prevent 21 million tons of carbon emissions each year.Sheikh Mohammed bin Rashid Al Maktoum, UAE prime minister.

3.Union Minister of State for HRD, Electronics, Communication, and IT, inaugurated "Bharat Air Fibre Services" at Akola in Maharashtra. With the launch of Wireless Bharat Air Fibre, more connections will be provided on demand in a very quick time.BSNL Chairman and Managing Director, P K Purwar.

4.Two NASA astronauts returned to Earth in a dramatic, retro-style splashdown, their capsule parachuting into the Gulf of Mexico to close out an unprecedented test flight by Elon Musk's SpaceX company. SpaceX made history with this mission.Test pilots Doug Hurley and Bob Behnken rode the SpaceX Dragon.

4.Lewis Hamilton held on to win the British Grand Prix despite a puncture on the last lap to clinch an 87th career win and move within four of Michael Schumacher's Formula One record.

5.The model can be utilized to estimate key aspects of medical inventory requirements, a calculation that is required to scale up both the testing capabilities and the critical care facilities, which are essential to reduce the mortality.Jawaharlal Nehru Centre for Advanced Scientific Research(JNCASR).

6.Dalmia Bharat Group has won an award for Environment Sustainability at 18th FICCI CSR award ceremony, organized by FICCI. The award recognizes efforts of companies in integrating and internalizing Corporate Social Responsibility.Anurag Thakur,Minister of State for Finance & Corporate Affairs.

7.Scientists from the Institute of Nano Science and Tech. (INST) developed nanorods from aspirin for treating cataracts in a non-invasive way. Aspirin nanorods prevent the aggregation of crystallin protein & various peptides derived from its fragmentation.A cataract is a major form of blindness.

8.The program named as “Khadi Agarbatti Aatmanirbhar Mission” aims at creating employment for unemployed and migrant workers in different parts of the country while increasing domestic Agarbatti production substantially.Program, proposed by Khadi and Village Industries Commission.

9.World Bank has approved a dollar 202 million additional financing for the modern food storage facilities project in Bangladesh. The financing will help increase the storage capacity of Bangladesh’s grain reserves by 5.35 lakh tons for 4.5 million house.World Bank team leader for the project Christian Berger.

10.UP's Cabinet minister for Technical Education Kamal Rani Varun succumbed to COVID-19. Currently, Kamal Rani was MLA from Ghatampur in Kanpur.

11.According to a recent survey of states by JMK Research and Analytics, Rajasthan has added maximum capacity of 1,745 megawatt solar plants in the country in 2019-20, followed by Karnataka (1,443 MW) and Tamil Nadu (1,342 MW).The pipeline of projects also remains robust at 23,176 MW.

Saturday 1 August 2020

ONE LINER OF THE DAY 2nd AUGUST 2020

1.Northern Railway ran first-ever Vyapar Mala Express train to help small traders in moving their cargo via Railways in a short time, cost-effective, convenient & environment-friendly mode of transportation. Railways earned more than ₹ 94 Lakhs from this.It will cover a distance of 2,673 km from Punjab to Tripura.

2.Health Minister Dr Harsh Vardhan launched Vidyarthi Vigyan Manthan 2020-21 which is a national programme for popularizing science among students of Class 6th to 11th. It was designed to identify bright minds with a scientific attitude among the students.He represents Chandni Chowk in Delhi as an MP.

3.Minister for Road Transport Nitin Gadkari inaugurated the Mahatma Gandhi bridge over river Ganga through video conference. This over 5.5 km four-lane bridge lies at NH-19 between Patna and Hajipur. It is being constructed at a cost of Rs 1742 crore.Chief Minister of Bihar: Nitish Kumar.

4.Union Minister of Rural Development Narendra Singh Tomar released a booklet on “Best Practices in Digital India Land Records Modernization Programme (DILRMP)” of Department of Land Resources based on the presentations made since inception of the programme.It discusses mechanisms adopted by states for land management.

5.Home Minister Amit Shah inaugurated 2-day international webinar on the theme 'Lokmanya Tilak - Swaraj to Self-reliant India' organized by Indian Council for Cultural Relations on 100th death anniversary of the freedom fighter Lokmanya Bal Gangadhar Tilak.Tilak gave slogan “Swaraj is my birthright and I shall have it”

6.Central Govt to spend nearly Rs 12 crore for funding 112 start-ups to promote Agri firms in the current FY. It is to be given to the start-ups selected by different knowledge partners &agribusiness incubators in agro-processing, food tech & value addition.Startups to be trained at 29 agri-business incubation centres.

7.Central Govt to spend nearly Rs 12 crore for funding 112 start-ups to promote Agri firms in the current FY. It is to be given to the start-ups selected by different knowledge partners &agribusiness incubators in agro-processing, food tech & value addition.Startups to be trained at 29 agri-business incubation centres.

8.Dr Harsh Vardhan presided over a meeting of the Bureau of the Executive Board as Chairman of the Executive Board of the World Health Organization virtually. The Bureau also includes the Vice-Chairs of the Executive Board and the Director-General of WHO.Parent Organisation of WHO: ECOSOC.HQ: Geneva, Switzerland.

9.According to the Ministry of External Affairs an amendment to the framework agreement on the establishment of the International Solar Alliance came into force that will enable member states of the UN to join the grouping including .those beyond the tropics.Director-General of ISA: Upendra Tripathy.HQ: Gurugram, Haryana.

10.The Asian Development Bank (ADB) signed a $200 million financing deal with Reliance Bangladesh LNG and Power Limited (RBLPL) to build and operate a 718-megawatt combined-cycle gas-fired power plant in Bangladesh. It is to ease ongoing energy shortages.The financing deal has two components of $100 million each.

11.Tribal Affairs Ministry received SKOCH Gold Award for Empowerment of Tribals through IT-enabled Scholarship Schemes project of Scholarship Division of the Ministry. 66th SKOCH 2020 Competition was entitled India Responds To COVID Through Digital Governance.Minister of Tribal Affairs: Arjun Munda.

12.Rajya Sabha MP and former Samajwadi Party leader Amar Singh passed away / Folk musician and Padma Shri awardee Sonam Tshering Lepcha passed away at Kalimpong.

Friday 31 July 2020

ONE LINER OF THE DAY 1st AUGUST 2020


1.Platform aims to guide MSMEs across their credit lifecycle, from availing credit to start & grow their businesses,managing credit lines to sustain & build structural strength of the business, & also ensuring timely closures & renewals of credit facilities.Mohammad Mustafa, IAS & CMD of SIDBI.

2.All labour laws have been subsumed into four Codes: The Code on Wages, 2019; The Occupational Health, Safety and Working Conditions Code, 2019; The Industrial Relations Code, 2019; and The Code on Social Security, 2019.The committee, headed by BJD MP Bhartruhari Mahtab.

3.Telangana gov. rolled out mobile covid-19 testing centers in containment zones and low-income group residential areas across the state. Buses are built with 'Intelligent Monitoring Analysis Services Quarantine’(iMASQ) technology by Vera Smart Healthcare.Telangana Chief Minister K Chandrasekhar Rao.

4.The HLEG was set up to recommend measurable performance incentives for states to encourage agricultural exports and to promote crops to enable high import substitution. The recommendations include a demand-driven approach and focus on 22 crop value chains.

5.This includes MoUs to be signed with States and Union Territories to provide ease of living to urban migrants in the country. The Affordable Housing Complex scheme will be implemented through two models in the country.Pradhan Mantri Awas Yojana (Urban) Mission launched in 2015.

6.The project company has now signed a loan agreement for full financing totaling $642 million with a group of banks that includes the Japan Bank for International Cooperation (JBIC). The project company agreed an EPC contract with Samsung C&T in July 2020.

7.Scientists from the University of Minnesota, US have simulated how the novel coronavirus spreads indoors via aerosols as infected people speak or exhale, and have found the features of good ventilation that can filter virus particles out of the air.

8.The other members of the committee include former table tennis player Monalisa Baruah Mehta, boxer Venkatesan Devarajan as well as sports commentator Manish Batavia and journalists Alok Sinha and Neeru Bhatia. National sports awards given on Aug, 29.Target Olympic Podium Scheme (TOPS) CEO Rajesh Rajagopalan.

9.With this a large section of its customers would be able to access credit more rapidly from their homes, with no physical interaction. Digital Stack integrations with banks & NBFCs will provide unsecured loans within 3-5 hrs as against 3-7 days.Paisabazaar founders: Naveen Kukreja, Yashish Dahiya.

10.Contracting for the 4th consecutive month, the output of eight core infrastructure industries shrank by 15% in June due to fall in the production of coal, crude oil, natural gas, steel, cement & electricity. 8-core sectors had expanded by 1.2% in June,19.


Friday 27 March 2020

ONE LINER OF THE DAY 27th MARCH 2020


1.Government announced a package of Rs 1.7 lakh Cr for the poor who need immediate help in the wake of COVID-19 like migrant workers & poor. Insurance cover of Rs 50 lakh per person for 3 months for COVID-19 warriors who are exposing themselves to the virus.Gareeb Kalyan scheme will help the migrant and poor people.

2.UN launched a $2-b global humanitarian response plan to fight COVID-19 in the world's poorest countries. UN Secretary General Antonio Gueterres warned that the pandemic is threatening the entire human race. UN Emergency Relief Coordinator- Mark Lowcock.UN Headquarters: New York, Formed On: 24 October 1945.

3.Department of S&T has set up a COVID-19 Task Force for mapping of technologies from Research and Development labs, academic institutions, start-ups and Micro, Small and Medium Enterprises to identify the most promising start-ups that are close to scale up.Union Minister for Science & Technology- Harsh Vardhan.

4.IITGN launched Project Isaac to engage students in creative projects to enhance their critical skills while they are confined to their homes due to COVID-19. It is inspired by Isaac Newton, who was similarly sent home due to the Great Plague of London.Four different competitions are being organized by IITGN.

5.All India Institute of Medical Sciences, Delhi has set up a Task Force to build a management protocol for COVID-19. It has also constituted several committees to respond to challenges of rising number of the infections which may emerge in the coming days.AIIMS is under the Ministry of Health and Family Welfare.

6.Mahindra & Mahindra Ltd (M&M) has teamed up with two public sector undertakings (PSUs) to work with an existing manufacturer of high spec ventilators to help simplify design and scale up capacity, in the wake of the Coronavirus outbreak in the country.M&M did not disclose the name of the manufacturer.

7.The International Monetary Fund projected a contraction of global output in 2020 and recovery in 2021 as it asked the leaders of the G-20 countries to back a doubling of its USD 50 billion emergency financing capacity in the wake of the COVID-19 pandemic.Of this, $10-b: Zero interest aid for the poorest members.

8.Finance Minister Nirmala Sitharaman announced an ex-gratia amount of Rs 500 per month for the next three months to all the women Jan Dhan account holders to run their households. Around 20 crore such women account holders will be covered under this scheme.Pradhan Mantri Jan Dhan Yojana was launched on 28 August 2014.

9.India proposed setting up of a common e-platform for all SAARC nations to share expertise in jointly combatting the COVID-19 pandemic. SAARC is a regional grouping comprising Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan & Sri Lanka.SAARC was established on 8 December 1985.

10.Government will supply over the next 3 months extra 2 kg subsidised food grains under the Public Distribution System, taking the total monthly quota to 7 kg/ person. Under NFSA, 5 kg of food grains/ month is given to over 80 Cr people at subsidised price.Wheat is supplied at Rs 2/kg under National Food Security Act.

11.To provide relief to farmers affected due to the lockdown, government would transfer in the first week of April the first instalment of Rs 2,000 to each of 8.69 crore beneficiaries under the PM-KISAN scheme. Farmers receive Rs 6,000 annual from PM-KISAN.PM-KISAN Scheme is effective from 1 December 2018.

12.2 domestic research agencies, CRISIL and ICRA sharply lowered their GDP growth forecast for FY21. While CRISIL has lowered growth projection by 170 basis points, ICRA’s cut is in the range of 50-100 bps. CRISIL slashed forecast for FY21 to 3.5% from 5.2%.ICRA: GDP growth to ease from 4.4% in FY20 to 4.2% in FY21.

13.As the COVID-19 epidemic force, a 3-week countrywide lockdown disrupting travel, government resorted to ‘virtual signing’ to conclude strategic sales in Kamarajar Port, THDC India & NEEPCO. The Centre will receive Rs 13,500 crore from the three deals.Chennai Port Trust will acquire 67% stake in Kamarajar Port.

14.An Extraordinary Virtual G20 Leaders’ Summit was arranged to discuss the challenges posed by the COVID-19 pandemic and to forge a global coordinated response. Earlier, PM had telephonic conversation with the Crown Prince of Saudi Arabia on this subject.Saudi Arabia assumed the G20 2020 Presidency on 2019.

15.The Centre has kept the maximum sale price of genetically modified (GM) Bt cotton seeds unchanged at Rs 730 per packet for the next fiscal but scrapped the royalty to US-based technology provider Monsanto, now controlled by the global agri major Bayer.The seed value is Rs 730 and trait value zero.

16.FM Nirmala Sitharaman announced that the Centre is considering increasing wages under the National Rural Employment Guarantee Act, 2005 (MNREGA) by Rs 2,000 per worker. Each person will get 5 kg of rice or wheat over & above the existing 5 kg being given.The wage will benefit five crore families.

17.COVID-19 will impact India's economic growth ‘severely’, as the lockdown is causing major disruption across multiple sectors, including manufacturing, oil, among others, says D&B report. It expects the IIP to remain subdued by 4-4.5% during February 2020.IIP- Index of Industrial Production.

18.The SIDBI Assistance to Facilitate Emergency (SAFE) response against coronavirus scheme will offer loans to MSEs at a fixed interest rate of 5 percent and with a maximum loan repayment tenure of five years for fighting the novel coronavirus COVID-19.Loans are collateral-free & will be sanctioned within 48 hours.

19.RBI said that all banking institutions can offer 3-month moratorium on all loans for a period of 3 months. The RBI has also allowed banks to restructure the working capital cycle for companies without worrying that these will have to be classified as NPA.So far, the RBI has infused Rs 280,000 crore.

20.Financial services company Moody's Investors slashed its estimate of India's GDP growth during 2020 calendar year to 2.5 percent, from an earlier estimate of 5.3 percent & said the coronavirus pandemic will cause unprecedented shock to the global economy.The estimate for 2020 compares to 5% economic growth in 2019.

21.RBI announced substantial liquidity measures saying it will conduct up to 3-year tenure for an amount of up to Rs 100,000 Cr at a floating rate linked to policy repo rate. Liquidity must be deployed in investment grade corporate bonds & commercial papers.RBI has also cut CRR heavily by 100 bps to 3% of NDTL.

22.Reserve Bank of India offered Rs 11,772 Cr to banks through a 12-day variable rate repo auction. Before the auction, the RBI enhanced the amount of auction to Rs 50,000 crore from Rs 25,000 crore, announced earlier. RBI received Rs 11,772 crore of bids.Next variable term repo auction of Rs 25,000 Cr is on March 31.

23.The number of coal-fired power plants under development worldwide fell last year (2019), as climate concerns and competitive renewable energy projects chipped away at coal's viability, a study by four non-governmental organisations showed.Capacity under construction fell 16% last year compared with 201

24.In the wake of the coronavirus (Covid-19) outbreak, the Confederation of Indian Industry (CII) is setting up a fund- CII COVID Rehabilitation & Relief Fund (CRR)- to assist rehabilitation of small enterprises and Micro, Small & Medium Enterprises (MSMEs).President of CII- Vikram Kirloskar.

Thursday 26 March 2020

ONE LINER OF THE DAY 26th MARCH 2020


1.Union Cabinet approved continuation of the process of recapitalization of RRBs by providing minimum regulatory capital up to 2020-21 for those RRBs which are unable to maintain minimum CRAR of 9%, as per the regulatory norms prescribed by the Reserve Bank.Rs.670 Cr will be used for the RRBs Recapitalization scheme.

2.The Union Cabinet chaired by the Prime Minister; Shri Narendra Modi was apprised of a MoU signed between Ministry of Railways of Government of India with DB Engineering & Consulting GMBH of Germany for technological cooperation in the Railway Sector.The MoU was signed in February 2020.

3.In the wake of preventive measures of the central government to contain the spread of Covid-19, the National Book Trust of HRD Ministry is providing its select and best-selling titles for FREE Download as part of its initiative of #StayHomeIndiaWithBooks.The 100+ books, in PDF format, can be downloaded.

4.NTPC has increased total installed capacity to 58,816 MW with the commissioning of 2nd unit of 660 MW at Khargone Super Thermal Power Project, Madhya Pradesh. NTPC now has 55 power stations, including 24 coal-based & 7 combined cycle gas/liquid fuel.Others: 2 hydro, 1 wind, 11 solar & 10 joint venture stations.

5.Cabinet chaired by PM Modi has given its approval for continuation of Rebate of State & Central Taxes & Levies (RoSCTL) from 1st April 2020 onward until such time that the scheme is merged with Remission of Duties and Taxes on Exported Products (RoDTEP).RoSCTL comes under the Ministry of Textiles.

6.State-run banks have stepped up with emergency funds to help companies continue operations & pay employee salaries, as corporates seek help to tide over the crisis caused by Covid-19. SBI’s credit line is up to ₹200 Cr & Indian Bank’s is up to ₹100 Cr.BoB sanctioned an ad hoc limit of ₹200 Cr, UBI- Up to 50 Cr.

7.The National Health Authority (NHA) has decided to cover Covid-19 treatment of the poorest of the poor in private hospitals under Ayushman Bharat- the central government’s health insurance scheme for the deprived, launched on September 2018.NHA expects to cover cost under viral infection packages.

8.Indian Railways focuses on world-class stations. The Indian Railway Stations Development Corporation Limited is developing a first-of-its-kind ‘Form Based Codes’ for the development of railway land with support from Shakti Sustainable Energy Foundation.PDA is also a nodal agency for the station development.

9.International Advanced Centre for Powder Metallurgy & New Materials, a R&D Centre of Department of Science & Technology, has developed ultrafast laser surface texturing technology, which can improve the fuel efficiency of internal combustion engines.Created textures were tested in an engine test rig.

10.Scientists from Agharkar Research Institute (ARI), Pune, Maharashtra an autonomous institute under the Department of Science & Technology, Government of India, have developed a biofortified durum wheat variety MACS 4028, which shows high protein content.

11.Uttar Pradesh government has decided to launch massive campaign for identification of those person who have recently returned from abroad and calling over 10,000 village heads to ensure that such persons remain in quarantine. CM helpline service is 1076.

12.Election Commission has decided to allow usage of indelible ink on persons for stamping for home quarantine by health authorities in view of COVID-19. Health Ministry may standardise the mark and the location on the body where the mark has to be applied.Chief Election Commissioner of India- Sunil Arora.

13.If the 21-day long national lockdown leads to 80% production loss, the economy will take a hit of ₹35,000-40,000 Cr daily, shaving off ₹6.3-7.2 lakh Cr cumulatively, says Care Ratings. The assessment is based on the FY20 real GDP of ₹140-150 lakh Cr.

14.Former India midfielder Abdul Latif, who was also a key member of bronze medal winning team at the 1970 Bangkok Asian Games died in Guwahati. / Albert Uderzo, co-creator and illustrator of the ‘Asterix’ comic book series, has died at the age of 92.

15.International Telecommunications Union is launching a ‘Global Network Resiliency Platform’ to help protect telecoms networks during the COVID-19 crisis. The platform will assist the government & private sector to ensure that networks are kept flexible.ITU Secretary General, Hulin Zhao.

16.Jana Small Finance Bank along with NPCI launched a UPI QR-based loan instalment payment facility for its customers. The move comes at a time when banks are advising their customers to operate maximum banking services from the safe confines of their home.Payment mode is available for P2P & P2M payments.

17.The U.S. Centers for Disease Control and Prevention has introduced an AI bot called ‘Clara’ to help people assess potential symptoms of COVID-19The CDC has partnered up with CDC Foundation and Microsoft Azure’s Healthcare Bot service to create Clara.Bot is currently only available in the US on the CDC website.

18.Hours after the state announced total lockdown due to the COVID-19 outbreak, Chief Minister Naveen Patnaik launched Mo Jeeban programme & urged people to take a pledge to stay indoors. The objective of the programme is to keep everyone safe in the state.Odisha Governor- Ganeshi Lal, Capital- Bhubaneshwar.

19.Iqbal Singh Bains was appointed as Madhya Pradesh (MP) Chief Secretary by the newly sworn Chief Minister Shivraj Singh Chouhan of the state. He was the successor of CS M Gopal Reddy. This was the 1st appointment made by the new CM Shivraj Singh Chouhan.Madhya Pradesh Governor- Lalji Tandon.

20.Indian football captain Sunil Chhetri was picked among 28 past and present stars for world governing body FIFA's campaign to combat the COVID-19 pandemic. FIFA and WHO have teamed up to combat the coronavirus by launching a new COVID-19 awareness campaign.Campaign: ‘Pass the message to kick out coronavirus’.


Wednesday 25 March 2020

ONE LINER OF THE DAY 25th MARCH 2020


1.In Tamil Nadu, a new district is going to be formed after bifurcating the Nagappattinam district. The new district will be headquartered at Mayiladuthurai. CM Edappadi Palaniswamy made the announcement saying, it would be the 38th district in the state.Its main water source comes from the Kollidam River.

2.First Made in India Test Kit to diagnose COVID-19 got the commercial approval by the CDSCO. It would cost 1/4th of the current procurement cost and is faster as it screens and detects the infection within 2.5 hours as compared with over 7 hours by others.CDSCO- Central Drugs Standard Control Organisation.

3.World Health Organization has initiated a global mega trial of the 4 most promising drugs that may cure the novel coronavirus. The mega trial is called Solidarity, under which the study, testing & development of antidote against coronavirus will be made.Drugs: Remdesivir, HIV drug, interferon-beta & malaria medicine.

4.Reliance Industries in collaboration with the Brihanmumbai Municipal Corporation has set up India's first COVID-19 dedicated hospital in Mumbai that includes a negative pressure room that helps in preventing cross-contamination and helps control infection.It is a 100-bedded hospital.

5.US regulators have lifted import restrictions on Ipca Laboratories in an effort to increase supplies of a malaria drug touted by Trump as a potential coronavirus treatment. Chloroquine and hydroxychloroquine were 1st approved in the U.S. decades ago.Ipca: International pharmaceutical company based in Mumbai.

6.Ministry of Statistics and Programme Implementation issued a circular granting one-time dispensation for utilizing funds under the Members of Parliament Local Area Development Scheme (MPLADS) to address the challenges in the fight against Coronavirus.It will be used for purchase of equipment’s for govt hospitals.

7.FM Nirmala Sitharaman announced that last date for filing of income tax return for the financial year 2018-19 has been extended till 30th June of this year. She said, interest on delayed payment of income tax reduced to 9 per cent from the 12 per cent.PAN-Aadhar linking have also been extended till 30th June.

8.Tamil Nadu CM Edappadi K Palaniswami said that, to attract new investments into the state, an EV park will be set up at Manalur SIPCOT Industrial Estate near Chennai at an expected cost of Rs 148 Cr. A NABARD-assisted Rs 2,934 Cr plan is also announced.This fund will create modern infrastructure in the parks.

9.Invest India- India’s national Investment Promotion & Facilitation Agency- under the Commerce ministry has launched the Invest India Business Immunity Platform to help businesses and investors get real-time updates on India’s active response to COVID-19.Invest India has also announced a partnership with SIDBI.

10.Maharashtra Chief Minister Uddhav Thackeray announced the creation of a WhatsApp chatbox-912026127394- to enable citizens to get coronavirus-related information. Maharashtra has reported the highest number of COVID- 19 cases (107) among states so far.Maharshtra Governor- Bhagat Singh Koshyari.

11.The Reserve Bank, which has been snapping up greenbacks in the past two years, has also been lapping up US treasury bills and the holdings touched a record high in January. The holdings rose by more than $2 billion between December 2019 and January 2020.RBI follow Safety, Liquidity & Return (SLR) principle.

12.The government may consider suspending section 7, 9 and 10 of the Insolvency and Bankruptcy Code for 6 months if the present situation doesn't improve beyond April 30. Threshold for default under IBC was being raised to Rs 1 crore from Rs 1 lakh earlier.IBC gives time-bound process to resolve insolvency among firms.

13.Cognizant Technology Solutions has entered into an agreement to acquire Lev. Lev helps businesses simplify & modernise their marketing campaigns using Salesforce Marketing Cloud to provide data-driven insight & personalisation across the customer journey.Lev is a privately held, digital marketing consultancy in US.

14.Adani Transmission Ltd said that it has bought back non-convertible debentures (NCDs) worth Rs 125 Cr. Adani Transmission- an Adani group company- is the country's largest private transmission firm with a cumulative network of more than 14,800 circuit km.Moody's assigned Baa2 to Adani's $400 mn senior secured bonds.

15.PM Modi announced allocation of Rs 15000 crore to strengthen healthcare infrastructure to fight coronavirus in India. This includes testing facilities, personal protection, isolation beds, ICU beds, ventilators and training medical and paramedical staff.He also announced complete lock down of the country for 21 days.

16.World economy is facing severe economic damage from the coronavirus pandemic that could be even more costly than in 2009 & will require an unprecedented response, IMF chief Kristalina Georgieva said. IMF is ready to deploy all $1 trillion lending capacity.Global economy contracted by 0.6% in 2009 due to 2008 crisis.

17.A man in Yunnan Province of China died shortly after he was tested positive for Hanta virus. The symptoms of Hanta Virus are similar to that of COVID-19. The Hanta Virus, also called the Orthohanta virus spreads through rats. It causes haemorrhagic fever.Hanta also causes renal syndrome.

18.In a first major step for the unorganised sector to tide over the COVID-19 during lockdown period, the central government directed states to transfer cash into the bank accounts of construction workers from the unutilised welfare funds earmarked for them.Labour Ministry directed the states to transfer Rs 52,000 Cr.

19.The Japan leg of the Tokyo Olympic torch relay has been cancelled due to the coronavirus outbreak, Yoshiro Mori said. The move comes after PM Shinzo Abe & International Olympic Committee President Thomas Bach agreed to postpone the games by roughly 1 year.Yoshiro Mori: President of the Tokyo 2020 organizing committee.

20.RBI said bank credit to registered NBFCs towards agriculture, MSEs & housing sector up to prescribed limits will be treated as priority sector loans during the next FY starting April. The move will help boost credit disbursement in the targeted segments.PSL for bank loans to NBFCs for on-lending for 2020-21 extended.

21.Kotak Mahindra Group has launched Kotak Silk Loans -with attractive rates and special offers across a range of loan categories especially for women borrowers. Kotak Silk Savings Programme is to empower women in their journey towards financial independence.Uday Kotak- Managing Director & CEO, Kotak Mahindra.

22.International Day of Solidarity with Detained & Missing Staff Members is observed on 25 March remember the fallen personnel who served for the cause of peace in the world. In 2018, 16 UN staff members were kidnapped or abducted, and one thus far in 2019.United Nations was formed on 1945.

23.Every year on 25 March, the International Day of Remembrance of the Victims of Slavery and the Transatlantic Slave Trade honours and remember those who suffered & died at the hands of the brutal slavery system & raise awareness about of racism & prejudice.A memorial has been erected at UN Headquarters in New York.


Tuesday 24 March 2020

ONE LINER OF THE DAY 24th MARCH 2020


1.In Madhya Pradesh, senior BJP leader Shivraj Singh Chauhan has become Chief Minister of the state for the fourth time. Governor Lalji Tandon administered him the oath of office & secrecy at a simple ceremony held at Raj Bhavan. He will succeed Kamal Nath.Chouhan worked as the CM of the state for almost 13 years.

2.Parliament passed the Finance Bill, 2020. In the Union Budget 2020, the government proposed to spend Rs 30,42,230 Cr in the next FY, 12.7% higher than the revised estimate of 2019-20. By passing the Bill, these financial proposals have been given effect.Government expects that receipts will increase by 16.3%..

3.Goldman Sachs expects the global real Gross Domestic Product to contract by 1% in 2020, a sharper economic decline than in the year following the 2008 global financial crisis. It sees the real GDP in advanced economies contracting ‘very sharply’ in Q2.24% drop in the United States for Q2 is predicted.

4.The coronavirus pandemic and the resulting lockdowns led UBS to sharply cut India's growth forecast for the next financial year starting April 1, to 4% from the 5.1% estimated earlier. UBS Securities said it expects India to clock a 4.8% growth in FY20.RBI is most likely to cut rates at the April 3 review meet.

5.S&P cut its estimate for India's GDP growth in the fiscal starting April 1 to 5.2% from its earlier estimate of 6.5%, as it saw the outbreak of COVID-19 costing economies around the globe. Total and permanent income loss for Asia-Pacific will be $620-b.Standard & Poor's is the provider of the popular S&P 500 Index.

6.RBI has preponed the second tranche of purchase of Rs 15,000 crore of government securities under open market operations (OMOs) to March 26. The OMO purchase auction was earlier scheduled for March 30. RBI will buy four government bonds in the auction.

7.Fitch Ratings said that the outlook of Tata Chemical’s (TCL) long-term foreign-currency issuer default rating (IDR) was stable at ‘BB+’ following reduced energy costs, which will support a healthy margin. TCL has global presence in US, the UK and Kenya.TCL is the world's third-largest soda ash producer.

8.IRDAI asked life insurers to provide customers an additional window of up to 1 month for paying renewal premiums in view of troubles caused by lockdowns after the COVID-19 outbreak. Board meetings due till June 30 could be held through videoconferencing.IRDAI Chairman- Subhash Chandra Khuntia.

9.UN will create a fund to prevent the spread of COVID-19 & support the treatment of patients globally. Purpose of the fund is to assist developing countries with weak health systems in addressing the crisis as well as to tackle the long-term consequences.Norway suggested to create the global coronavirus fund.

10.Amazon.com Inc is teaming up with a research program funded by Bill Gates to pick up and deliver coronavirus test kits in Seattle. The Seattle Coronavirus Assessment Network is collecting nasal swabs from a sample of people across King County.Seattle: Group of medical, health & research organizations.

11.Automotive manufacturer Toyota Motor Corp and Nippon Telegraph & Telephone Corp will form a capital tie-up to work together in smart-city development, making large investments in each other, Japan’s only public broadcaster NHK (Nippon Hoso Kyokai) stated.NTT is a Japanese telecommunications company.

12.The 2020 Olympic & Paralympic Games in Tokyo have been thrown into further doubt after Canada became the first major country to withdraw due to the outbreak of COVID-19. Japan's PM Shinzo Abe has admitted for the 1st time that the games could be postponed.The games are currently due to begin on 24th July 2020.

13.World Tuberculosis Day, falling on 24 March each year, commemorates the day in 1882 when Dr Robert Koch astounded the scientific community by announcing that he had discovered the cause of tuberculosis, the TB bacillus. 2020 World TB Day Theme: It's Time.Aim: To raise public awareness about TB epidemic.

14.The Union cabinet, chaired by PM Narendra Modi, approved signing of an extradition treaty between India & Belgium. The treaty would provide a legal framework for seeking extradition of terrorists, economic offenders and other criminals from and to Belgium.Belgium Capital- Brussels, Currency- Euro.

15.In a major relief to the residents of Lachen in northern Sikkim, the BRO opened a 360-feet long bailey suspension bridge over the Teesta river for traffic in Munshithang near Chungthang town. The roads approaching the bridge have also been constructed.BRO- Border Roads Organisation.

16.Singapore overtook Hong Kong as the world's freest economy for the first time since 1995 in the latest Heritage Foundation Index of Economic Freedom. The Index was first published in 1995 and Hong Kong has topped the charts ever since; that is until 2020.India is at the 120th place among the 186 countries.

17.Karur Vysya Bank (KVB) has launched Enkasu, a pre-paid card in Karur. In response to the digital initiative of the Government of India, the bank undertook a Quit Cash Movement in Karur - a movement to reduce the usage of cash in the district of Karur.Enkasu works on Near Field Communication Technology.

18.Indian Oil Corporation (IOC) began the supply of the world’s cleanest petrol & diesel across the country. All 28,000 petrol stations of IOC’s across India are dispensing BS-VI ultra-low sulphur grade fuel to reduce the pollution from vehicles in the air.April 1, 2020 is the deadline for starting supply of Euro- VI.

19.The Norwegian Academy of Science and Letters has awarded the Abel Prize for 2020 to Hillel Furstenberg, Hebrew University of Jerusalem & Gregory Margulis, Yale University, USA. Due to the corona pandemic there will not be a physical Laureate ceremony.Honouring of the Abel Prize Laureates will be announced later.

20.International Day for the Right to the Truth Concerning Gross Human Rights Violations and for the Dignity of Victims is observed on 24 March to honour those who have devoted their lives to & lost their lives in the struggle to protect human rights for all.UN proclaimed the day on 21 December 2010.

21.International Day for Achievers is observed annually on March 24, to honour the achievers who have shown determination and confidence on their journey. On this day achievers from different fields are honoured for motivating people to achieve their goals.The achievers can be Scientist, Teacher, Social worker etc.,