Category: National Current Affairs

IMF lowers India GDP forecast for FY21, decreases by 4.5%

June 24, 2020

• The International Monetary Fund (IMF) sharply cut India’s growth outlook for the present fiscal year (2020-21) to a minus (-) 4.5 percent from 1.9 expansion expected in April owing to an extended COVID-19 lockdown and hindered economic revival.

Karnataka Bank originates KBL Micro Mitra for micro-enterprises

June 24, 2020

• Karnataka Bank has started a new item KBL Micro Mitra, wherein financial support up to Rs.10 lakhs can be given to the Micromanufacturing and service enterprises either for functioning capital or for investment purposes.

India’s GDP to sink 3.1% in 2020: Moody’s

June 24, 2020

• Moody’s Investor Service further lowered its growth forecast for India to -3.1% this calendar year correlated to 0.2% in April.
• The June 2020 update of its Global Macro Outlook, published on 22nd June, expected a marginally greater rebound at 6.9% in 2021, as opposed to 6.2% in the April update.

Cooperative banks to be drawn under RBI supervision

June 24, 2020

• The Union Cabinet permitted the inclusion of co-operative banks under supervisory controls of the Reserve Bank of India while declaring a Rs 1,542 crore year-long interest subvention scheme for microloan borrowers.

Rajasthan govt to start “Indira Rasoi Yojna”

June 24, 2020

• Rajasthan Chief Minister Ashok Gehlot on 22nd June declared that his government will soon start the “Indira Rasoi Yojna” for the poor to make sure that ‘‘no one sleeps hungry’‘ in the state.

Mumbai civic body on Mission Zero for 6 wards in city’s suburbs to check COVID-19 cases

June 24, 2020

• Civic chief IS Chahal on 23rd June started ‘Mission Zero’, as part of the Brihanmumbai Municipal Corporation’s (BMC) fast action plan to control increasing COVID-19 cases in the suburbs. He also introduced 50 ambulances given to BMC as part of a public-private partnership.

Haryana govt and Reliance Jio TV agreement to train 52 lakh students

June 24, 2020

• Haryana government and Reliance Jio TV have started an agreement that is expected to serve around 52 lakh school children in rural areas. This new agreement is made under the Chief Minister’s Distance Education Programme in order to extend education in rural areas without jeopardizing social distancing during the Covid-19 pandemic.

HRD Minister Ramesh Pokhriyal Nishank starts YUKTI 2.0 platform for innovators

June 24, 2020

• The Ministry of Human Resource Development (MHRD) has started a new platform, named Yukti 2.0, which is an online depository for innovative concepts aimed at fostering and promoting innovation among students and teachers. The portal, named Yukti 2.0, was originally promoted with the name Massive Indian Novelty Depository (MIND).

Yes Bank pairs-up Affordplan to start co-branded cashless healthcare card called ‘Swasth Card’

June 23, 2020

• Yes Bank Limited, an Indian public bank, has tied hands with Delhi-based fintech startup Affordplan, to start a first of its kind co-branded healthcare card called ‘Swasth Card’ under Swasth program with the plan to allow families plan and manage their finances for their healthcare needs.

Rs 3,100 crore from PM CARES designated to purchase ventilators, help migrants and develop a vaccine

June 23, 2020

• Prime Minister’s Office (PMO) announced the Trust has planned to allot Rs 3,100 core for the fight against COVID-19. 50,000 ‘Made-in-India’ ventilators will be bought from the PM CARES Fund which will be provided to government run COVID hospitals in all States/UTs for better treatment of the critical COVID-19 cases.